Category Archives: Selling a Home

Portland Mandatory Energy Audits

Effective January 01st 2018, Portland home sellers will be required to complete a home energy scoring and assessment report prior to publicly listing their home for sale. This report must be obtained from a licensed home energy assessor. The results of the score and report must be disclosed to all prospective buyers at the time the home goes on the market. This applies to all sellers, whether they are using a Realtor or not. The city council adopted the home energy score ordinance Portland City Code Chapter 17.108 on December 14, 2016, which applies to owners of single family residences only.

The score card will look like this:

PDX Score

I am told the estimated cost to hire a licensed energy assessor is $150 – $250. Homes will be rated between 0-10 with 10 being most energy efficient. Homeowners planning to sell should schedule an assessor several weeks before publicly listing their property.

Why did the city of Portland approve this ordinance?… click here:  Portland Home Energy Score

What are your thoughts?

Happy to answer your questions about this or any other real estate topics. Thanks for blogging!

Kevin Gorman   – www.KevinGormanSells.com – 503-367-4869

carry-money-house

 

 

 

 

 

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Filed under Portland Real Estate, 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