Tag Archives: Realtor

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

Why Are You Remodeling?

Well, I suppose it depends on whether you are seeking an emotional or a financial pay off. Most people are seeking both when they remodel. Keep in mind that you will not get a 100% return on the cost of your remodel project through the increased value of the home. Spending a ton of money on big projects may give you the emotional joy that you want, but the financial return may not float your boat.

Owners should consider their purpose for projects and make remodel decisions by weighing the emotional and financial costs. Setting expectations before launching into a project could save some heartache down the road.

As an example, I was recently asked if homeowner who is getting ready to sell should update their kitchen cabinets and bathroom before putting the home on the market. The home is clean and will show well, but is a bit outdated with original 80’s look and feel. After thinking it through, I suggested the seller not pay for any updating or remodel projects. This is because the local real estate market in their city is actually experiencing an inventory shortage of active listings. In this case, the home will sell as is, and quickly. Remodel projects would cost too much money and time that would not be returned back to this homeowner from the sale…so why bother? Let the new buyer/owner pay for these updates.

Here is a link to Remodel Magazine‘s website which has issued their the 2011-12 Cost Vs Value Report. Cost vs Value returns are reported by region and compared with the national average. CHECK IT OUT before you spend that hard earned nestegg. If after considering all the costs and returns, you decide to go for it, then do your best to make it a joyful experience!

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Have a sunny week, wherever you may be ~

Kevin Gorman   www.KevinGormanSells.com

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Filed under Household Tips