Hey Drew, help us out on a key principle of Real Estate 101: “Inspection & Appraisal…what’s the difference?” Your straight answer in 60 seconds is right here.
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Agents offer their market predictions
We are well into 2020! With warmer weather approaching, now is the time to consider getting a leg up on eventual challenges that Portland home sellers may face this year. According to Zillow’s metrics, the Portland area is currently experiencing a neutral market. Although home prices have stayed relatively steady over the past year with a very minimal decline, Zillow predicts they will start to rise this year.
The year to come will certainly have its challenges, but don’t fret: If you are selling your home this year, there are ways to mitigate the issues you might run into in the process.
1. Pricing a home right despite fluctuating values
According to 500 of America’s top agents who participated in HomeLights Q4 survey, overpricing was the number one challenge for their seller clients in 2019. The problem with overpricing is it can make your property appear stale, attracting low-ball offers.
- First off, make sure you list with a top agent in the Portland area who can guide you on the current market. (The Drew Coleman Team was #4 locally last year….just saying!)
- Check out this free online home value estimate tool that uses real estate data to give you an idea of what your home is worth.
- Refer to comparable sales, or “comps”, to get an idea of the prices similar homes nearby are going for. (Related: What to do in the case an appraisal does come back low? You have a few options.)
- Understand the state of the market. Knowing the reasons behind fluctuating values in your area could change the way you price your home. Check out Drew’s latest monthly market report for more details on Portland trends.
2. Bending to buyer demands
When preparing a home for sale, it’s best not to avoid those maintenance issues you’ve been neglecting for a while. Fixing them may well be part of a buyer’s demands, from structural defects to safety concerns and code violations. About 14 percent of top agents surveyed said this was the biggest challenge for home sellers in 2019. It will benefit you – and your eventual bargaining position – to be proactive in addressing these.
- Stay on top of regular cleaning. Getting face-to-face with the dirt and grime of your house might reveal small repairs you otherwise wouldn’t notice. Our team can make some great recommendations if you opt to hire some help.
- Peruse maintenance checklists to identify areas that may not usually receive much attention.
- Don’t forget to scrutinize the basement, attic, garage, and outside spaces to anticipate repairs likely to be requested by a potential buyer.
- Hire a professional for any needed structural maintenance on the roof, foundation, plumbing, and heating and cooling aspects of your home.
3. Managing expectations of the home-selling process
Don’t underestimate the time commitment needed for the entire process of selling a home. About 7 percent of top agents believe the uncertainty and time that comes with selling will be a greater challenge for home sellers this year.
At the moment, median listing prices in Portland are $449,950 (higher than what they are selling for, at $434,600). However, as the market balances out and potentially heads towards a seller’s market, patience might be the key to selling your home for more.
- Do your research. Home sellers should check the facts to find out what factors might affect the home-selling process in their area. An experienced agent will be a resource for quality insight.
- Again, make sure you have priced your house correctly. Overpricing could mean you’ll be waiting a while for the right buyer to come along.
- Expect the unexpected. Keep calm during the potentially long process and know that many factors are out of your hands. That’s where a top agent comes in – to address unexpected issues and help keep you relaxed.
Now, shake off those winter blues! It’s expected that 2020 might throw a detour or two your way, but with these and other resources, you’ll be in good shape from the start.
There’s something to be said for a change of scenery…
Especially after more than 20 years living between Kansas and Missouri. Moving to a new city gives you months’ worth of opportunities to answer the question, “What brought you here?” For the dozens of times I’ve answered, I’m certain it could be distilled down to “I like it here” and “It’s extremely chill, and good.”
It’s not substantive or satisfying to the person who asked, but it’s true. And after months of living here, it’s clear what makes Portland a perfect place to call home.
There are perks, like seeing the fog roll into the city on the drive to work, but the best parts of Portland make you feel as though you’ve lived here forever––or at least you should have.
Moving to Portland in the hottest months of the year, when it’s arguably too hot to think thoughts, much less say them out loud, won’t make you appreciate the climate until the leaves change. Settling into the crisp, gorgeous fall months, you’re reminded of why so many people call this home. This city evokes a sense of comfort that’s somehow familiar and refreshingly new at the same time.
Fall in the Northwest is a dream come true, and if you love cloud cover and rain, cool temperatures and so many pretty trees, it’s hard to do better. The vibrant colors of the leaves against the overcast skies, the misty mornings and fog rolling down the hills and into the city––it all culminates in an atmosphere not easily replicated.
Settled on the Willamette River with a view of rolling hills and valleys covered in trees, probably the most striking difference in Portland vs. Kansas and Missouri is the stunning nature near and throughout the city––including, as you know, the Pacific ocean. A drive in literally any direction offers some breathtaking sights, and a short drive west brings you to the coast. Drive east, and you’re at the base of Mount Hood. The beauty of the surrounding woods, mountains, rivers and lakes, and the convenience of being within a drive of it all can’t be overstated. It’s awe inspiring on a daily basis.
As tempting as it is though, you can’t just go live in the woods.
Fortunately Portland is a diverse and good-sized city that invites both exploration and recreation. There’s a general buzz and excitement around the city; people have an overwhelming spirit of community and civic pride. It’s rich in culture and encourages creativity. People are excited to live here and even more excited to tell you why. There’s an overwhelming sense of belonging and inclusion, as well as an abundance of opportunities.
Portland and its surroundings create a beautiful melding of lush nature and a bustling city. It’s not only an ideal place for a home; it’s a uniquely serene and growing city steeped in culture and art. You may move to Portland because you fall in love after visiting, but before too long you’ll wonder why you weren’t here sooner.