Tag Archives: Real Estate Bottom

OOPS…Not So Fresh Lately!

Busy Times!

Busy Times!

For those of you that have tried blogging, you know it can be challenging keeping up. My most recent FRESH BLOG was back in November! Soooo, for those of you that are avid fans of my blog and that call me to complain when I am late in posting (that’s pretty much just my business accountability partner Jim)…I sincerely apologize for the delay!

It is for good reason that I am behind. Real estate is BUSY! I had several calls in December from sellers that wanted to sell and buyers that wanted to buy. When January came along and the holidays were officially over, I was off and running. In January and February, I had four listings go on the market and each listing received multiple offers within one or two days of hitting the market! Thank goodness for my incredible Transaction Coordinator…the paperwork is a nightmare in multiple offer situations.

Since then I have had two additional listings hit the market and several buyers that are actively searching. These buyers are learning very quickly that if they don’t make a fast decision about a new listing on the market, it will be GONE.

The real estate headlines are all saying that as well. There is an inventory shortage in Portland Metropolitan and interest rates are low. These are the main factors driving the bee hive of activity.

It is an opportune time to sell for many that have been waiting AND it’s still a great time to buy if you are committed, pre-approved and ready to act fast.

Have a great March!  Sincerely……… Kevin    www.KevinGormanSells.com

P.S. –  I stopped in at an open house this past weekend and it was buzzing with activity. There must have been 15-20 people that visited at the same time as me… and I was only there for about 15 minutes.. I took the picture below of the entry on my way out! Needless to say the home was listed as “pending” 3 days later.

Open House Shoes

Open House Shoes

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Filed under Buying a Home, Kevin's Life, Oregon Real Estate, Portland Real Estate, Real Estate and More, Selling a Home, The Economy

Gloom, Doom and Zoom – A Piece of My Journey

Thinking back on it, I probably could have picked a better time in American history to become a Realtor. When I passed my license exam in 2006, I remember the real estate news headlines were mentioning topics like sub-prime mortgages, short sales, foreclosures rising, possible housing bubble burst and the U.S. economy faltering. Hmmm…

A couple of years later, an agent in my office showed me the sign he made from a cardboard box that said “HUNGRY REALTOR- WILL WORK FOR LISTINGS”. He was joking….right?

During that first five and a half years of my RE career, I think I learned more about what a “distressed market” is than anyone would care to. I had to quickly educate myself on short sales, foreclosures, loan modifications, government programs, legal issues, tax consequences, local market issues, the overall economy. I distinctly remember that none of those topics were on the real estate exam! Hmmm….

I found myself sitting on prospective clients couches numerous times, watching them tear up as they talked about the fear of losing their home. My job had become one  Realtor, and counselor as people shared their emotions and reached out for my opinion. People were truly in distress. Many of these meetings resulted without a paycheck for me, but I was proud to have played an important role in guiding them with their options. 

…and then January of 2012 came. There were not as many clouds in the sky, even here in Portland…did you notice? The news headlines started using phrases like “market stabilizing” and “sales increase”, “possible bottom” and even  “Inventory Shortage”…go figure!

My business is much, much better this year. This will be my best year yet as a Realtor. My clients include active investors, excited first time buyers and optimistic sellers, all expressing hope. On top of that, I’m seeing that all of the professionals associated with the real estate business are very busy… realtors, lenders, contractors, title companies, appraisers, home inspectors, etc.  I realize the market and many people still have healing to do, but all I can say right now is…whew, what a relief.

Thanks for reading FRESH BLOG….Oh, and here are a few 2012 headlines:

HOME PRICES CONTINUE TO RISE

US HOME PRICES EDGE UP IN MAY

HOME VALUES RISE FIRST TIME IN 5 YEARS

HOUSING MARKET TURNS CORNER

MORTGAGE RATES DROP AGAIN

PORTLAND’S RESIDENTIAL MARKET IS SIZZLING

BANKS SPEEDING UP SHORT SALE PROCESS

BUILDER CONFIDENCE EDGES UP IN JUNE

KEVIN GORMAN –    www.KevinGormanSells.com

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Filed under Real Estate and More

Whoda Thought?

It keeps coming up with every buyer client this year so I thought it was time to get it into Fresh Blog.

For several months we have been noticing it here in Portland Metro and now we are seeing it in the other national news as well. There is a shortage of home inventory. The homes that show well and are priced right are selling almost immediately… and often with multiple offers to the seller. The shortage seems to be most prevalent in the lower to mid price ranges.

If you are currently house hunting and you find a good one that you love, don’t delay. Have your REALTOR write the offer immediately and try to lock that seller in. You will have a contractual time period to inspect the home (in Oregon usually 10 business days) and back out if you need to.

Buyers that are slower to decide, or that are shopping without a lender pre-approval letter in hand, are losing out to buyers that are organized and ready to pull the trigger.

Check out this recent Los Angeles Times article: Home Inventory Shortage

Enjoy today….

and if you can…

Kevin Gorman   www.KevinGormanSells.com

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Filed under Buying a Home