Category Archives: Selling a Home

We’ll Take It!!

Gotta GoHome buying in the Portland metro area remains fast and competitive. Most buyers have learned from their agent or from experience that there really is no time to “sleep on it” once they find a home they like. Sellers continue to receive multiple offers within a day or two of hitting the market. I sometimes tell my buyers to wear slip on shoes during our tours because they won’t have time to tie laces!

It’s a wild ride for sure. There does not seem to be a major slowing on the horizon. Low inventory and big demand continues as people from out of the state and country continue to move here, many flush with cash. The urban growth boundary also will continue to limit new construction of homes and apartments.

In case you have been traveling the outer galaxy and didn’t know…prices have escalated quickly. First time buyers under $300k price point ($200k for condo & townhomes) are struggling and being forced to sacrifice from their original wish list. Many are needing to push their search further out (more commute time) than they had hoped. They are also considering homes that are smaller, have fewer features or are in less desirable condition.

It’s definitely not a piece of cake out there for buyers, sellers or real estate professionals. It’s extremely fast paced, demanding and emotional for us all.. That said, it still continues to be one of the best times to buy in Portland metro for two main reasons. (2) Home values are projected to continue to increase due to supply and demand. (1) Low interest rates. Real estate is a long term investment, and 10 years from now, homeowners will be grateful that they battled this market and bought a home at under 4% interest rates… and in one of the most beautiful places in the world.

Okay, that’s it for now … gotta run!

                   Kevin  G.           KevinGormanSells.com

carry-money-house

 

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Filed under Buying a Home, Oregon Real Estate, Portland Real Estate, Selling a Home

Are You Rich Yet?

Want to know your home’s approximate appreciation percentage for 2015? Cool, no problem! The information is within…and here’s how I obtained it for you:

We Realtors in the Portland and SW Washington areas subscribe to the Regional Multiple Listings Service (RMLS) which is one of our main tools in helping us list and sell properties. In addition, the RMLS provides us a monthly report entitled the “Market Action Report” which details tons of local real estate data. We use this data to help us inform and advise our clients on the state of the current market.

The RMLS has divided the region into separate areas and assigned each area a number. This allows statistics to be extracted that are specific to the individual areas.

So what’s your number? You can check the map below to find what area and number your home is located within. Then, you can check the 2015 year end report link (also below) to see your appreciation rate and other interesting market data.

Since this report is available monthly, I can provide this information to you upon request, just say the word!

2016 will be another “Seller’s Market”. I would be happy to answer your questions about listing or buying a home in 2016.

RMLS Area Map

Area Report Click here for the 2015 year end data on your area.

 

Cheers!      Kevin G.

www.KevinGormanSells.com 

PEAK

 

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Filed under Buying a Home, Portland Real Estate, Selling a Home

SCAMMERS TARGET MY LISTING!

I recently listed an adorable vacant home in North Portland. This property was a rental property and owned by my clients for several years.

We had been on the market about 5 days, when I got a call from a woman asking how much the rent for the house was. I assumed that she misread the meaning of my sign out front and explained to her that the home was for sale and not for rent. She then politely said “no thanks” and hung up.

House TrapThe next day I got another call asking how much the rent was. I tried to explain that all my advertisements were about selling the home and not renting it. This person pointed out to me the URL of the rental properties website. I looked it up and sure enough, someone had copied all my marketing pictures and my descriptive dialogue to create a fake rental ad. Sheesh!

I actually had heard this scam was occurring to vacant home listings elsewhere in the Universe, but I really didn’t think it would happen to me….because, you know….I’m a nice guy, right?

That said, this is just one of the numerous tactics that thieves are using to bilk money out of innocent renters. They trick people into believing that they own the home and convince these folks to send deposits and rents to them before crawling back into the black digital ooze that they reside in. 

Needless to say, I reported the scam to the website operators. In the future, I am going to have a sign such as the one below inside a front window facing out of all my vacant home listings:

This Home Is Only FOR SALE

 

 

 

 

 

If you would like to read more about this activity, here is a good article on Scambusters.org http://www.scambusters.org/rentalscam.html

As usual, just when I think I have experienced it all, something from left field comes flying at me. Recently one of my homes in escrow had a major fire and the whole top of the house needs to be rebuilt before closing! Maybe I’ll tell you about that next time?

Until then my friend ~ 

             Kevin 

PEAK

www.KevinGormanSells.com

 

 

 

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Filed under Real Estate and More, Selling a Home, Uncategorized