What happens when you get a new job in another city and need to relocate? Or your dream home becomes available? Should you sell your current home, or should you consider becoming a landlord and rent it out? Becoming a landlord is like having a small side business and requires that you stay abreast of Portland landlord laws and rules. Of course, you can always hire a property manager to handle most of the tasks required to successfully rent property, but keep in mind that they typically take anywhere from 8%-12% of your monthly rental income for their services. You can also rent now and sell later, however, selling a home with a tenant inside can present its own set...
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Should I Sell my House or Rent it Out?
August 17, 2022
What happens when you get a new job in another city and need to relocate? Or your dream home becomes available? Should you sell your current home, or should you consider becoming a landlord and rent it out? Becoming a landlord is like having a small side business and requires that you stay abreast of Portland landlord laws and rules. Of course, you can always hire a property manager to handle most of the tasks required to successfully rent property, but keep in mind that they typically take anywhere from 8%-12% of your monthly rental income for their services. You can also rent now and sell later, however, selling a home with a tenant inside can present its own set...
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Determining the value of an estate can be a hassle but is typically required in order to pay the proper amount of taxes. Often called an inheritance tax, all assets of the deceased be properly valued at the date of death or six months following the date of death. The executor is required to explain how the value was determined and must include proof. Appraiser or Realtor? When it comes to real estate, often a licensed real estate appraiser is hired to perform the date of death appraisal. Certainly this is a fine path to take. It is also possible for the executor to “substantiate” the value of the real estate property with alternative documentation. Once such possible alternative to...
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Getting a Date of Death Value from a Realtor in Oregon
August 15, 2022
Determining the value of an estate can be a hassle but is typically required in order to pay the proper amount of taxes. Often called an inheritance tax, all assets of the deceased be properly valued at the date of death or six months following the date of death. The executor is required to explain how the value was determined and must include proof. Appraiser or Realtor? When it comes to real estate, often a licensed real estate appraiser is hired to perform the date of death appraisal. Certainly this is a fine path to take. It is also possible for the executor to “substantiate” the value of the real estate property with alternative documentation. Once such possible alternative to...
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Real estate agents want your business and they especially want a new listing. While most agents are trained and licensed to put your interests first, it is also important to learn the essentials and advocate for yourself. We will help you understand the basic costs of selling a home (beyond commissions), the best time of the year to sell a home, what statistically makes a home sell, the basics on Realtor commission, and some basic rules of thumb when negotiating with a home buyer during your home sale. In our opinion, five things to know about home selling that the real estate agent you’re talking with may not tell you. 1. The cost to sell a home (beyond commissions). The...
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Selling a Home for the First Time? 5 Things Your Agent May Not Tell You
August 12, 2022
Real estate agents want your business and they especially want a new listing. While most agents are trained and licensed to put your interests first, it is also important to learn the essentials and advocate for yourself. We will help you understand the basic costs of selling a home (beyond commissions), the best time of the year to sell a home, what statistically makes a home sell, the basics on Realtor commission, and some basic rules of thumb when negotiating with a home buyer during your home sale. In our opinion, five things to know about home selling that the real estate agent you’re talking with may not tell you. 1. The cost to sell a home (beyond commissions). The...
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We stay on top of all real estate market activity in Portland’s suburbs and report our findings to you in our Portland Suburb Real Estate Market Reports. The suburb of Sherwood, just 16 miles southwest of Portland, offers a unique lifestyle with easy access to city amenities, and we’ve deemed it one of the safest suburbs in the Portland metro area. In this article, we’re reporting on how the real estate market is performing in Sherwood, Oregon. Sherwood, Oregon Decline in Real Estate Inventory According to Fidelity National Title, as with pretty much all of Portland’s other suburbs, inventory in Sherwood is low, holding it in this perpetual seller’s market we’ve seen for the past two years. Sherwood’s Real Estate...
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Sherwood, Oregon Real Estate Market Update
August 10, 2022
We stay on top of all real estate market activity in Portland’s suburbs and report our findings to you in our Portland Suburb Real Estate Market Reports. The suburb of Sherwood, just 16 miles southwest of Portland, offers a unique lifestyle with easy access to city amenities, and we’ve deemed it one of the safest suburbs in the Portland metro area. In this article, we’re reporting on how the real estate market is performing in Sherwood, Oregon. Sherwood, Oregon Decline in Real Estate Inventory According to Fidelity National Title, as with pretty much all of Portland’s other suburbs, inventory in Sherwood is low, holding it in this perpetual seller’s market we’ve seen for the past two years. Sherwood’s Real Estate...
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When looking for a new home near a city center like Portland, Oregon, how much do you consider the county where the property is located when making your decision? Counties have important features and facets that can impact quality of life, and their boundaries are not always clear. County policies and practices trickle down to suburban cities and towns, then to individual neighborhoods. Portland is located in Multnomah County, but Multnomah reaches beyond the confines of the city’s boundaries. Also, Portland’s tri-county area consists of Clackamas, Multnomah, and Washington Counties, Oregon’s three most populated, with 1,826,725 total residents, according to Census.gov‘s 2021 report. Multnomah County makes up 803,377 of that number, with Washington County at 600,811 and Clackamas County at...
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Moving near Portland, Oregon? Check out these 7 County Options.
August 8, 2022
When looking for a new home near a city center like Portland, Oregon, how much do you consider the county where the property is located when making your decision? Counties have important features and facets that can impact quality of life, and their boundaries are not always clear. County policies and practices trickle down to suburban cities and towns, then to individual neighborhoods. Portland is located in Multnomah County, but Multnomah reaches beyond the confines of the city’s boundaries. Also, Portland’s tri-county area consists of Clackamas, Multnomah, and Washington Counties, Oregon’s three most populated, with 1,826,725 total residents, according to Census.gov‘s 2021 report. Multnomah County makes up 803,377 of that number, with Washington County at 600,811 and Clackamas County at...
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If you’re planning to sell your Portland home, you’ll want to think about potential home hazards that might need to be addressed before putting it on the market. If you have an older home, chances are, it has (or had) a heating oil tank, whether it’s in use or not. To ultimately make the sale, you may need to get a certification letter from the Department of Environmental Quality (DEQ) and/or have a new site assessment done. This can apply even to those who have had their oil tanks previously decommissioned but not certified through Oregon DEQ. Testing and then decommissioning is voluntary during your home ownership, but often becomes involuntary after a buyer’s home inspection. Discovered leaking oil tanks...
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How Much Does it Cost to Decommission an Oil Tank?
August 5, 2022
If you’re planning to sell your Portland home, you’ll want to think about potential home hazards that might need to be addressed before putting it on the market. If you have an older home, chances are, it has (or had) a heating oil tank, whether it’s in use or not. To ultimately make the sale, you may need to get a certification letter from the Department of Environmental Quality (DEQ) and/or have a new site assessment done. This can apply even to those who have had their oil tanks previously decommissioned but not certified through Oregon DEQ. Testing and then decommissioning is voluntary during your home ownership, but often becomes involuntary after a buyer’s home inspection. Discovered leaking oil tanks...
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A known city in its own right, Beaverton is nestled between the Tualatin Valley farmlands and the West Hills and one of Portland’s fastest-growing, thriving suburbs. With a population of 97,494, up from 89,803 in 2010, it’s easy to see why so many people are making Beaverton home. The city’s 16 square mile land mass, Washington County’s second largest city, is only seven miles west of Portland and boasts over 100 parks, restaurants, shops, wineries, historic landmarks, and highly recognized corporations. In 2021, we deemed Beaverton the top Portland suburb. We thought we’d take an even closer look to see what makes Beaverton such a unique city. Here’s what we found. Beaverton, Oregon Wants to Make the World a Better...
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5 Things You Didn’t Know About Beaverton, Oregon
August 3, 2022
A known city in its own right, Beaverton is nestled between the Tualatin Valley farmlands and the West Hills and one of Portland’s fastest-growing, thriving suburbs. With a population of 97,494, up from 89,803 in 2010, it’s easy to see why so many people are making Beaverton home. The city’s 16 square mile land mass, Washington County’s second largest city, is only seven miles west of Portland and boasts over 100 parks, restaurants, shops, wineries, historic landmarks, and highly recognized corporations. In 2021, we deemed Beaverton the top Portland suburb. We thought we’d take an even closer look to see what makes Beaverton such a unique city. Here’s what we found. Beaverton, Oregon Wants to Make the World a Better...
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In our recent article, Top 5 Portland Real Estate Market News Stories so Far 2022, we touched on the most recent update on the Portland Residential Infill Project (RIP1): the development and implementation of RIP2. Portland’s residential infill project, in addition to new home construction rates, and updated ADU (additional dwelling unit) guidelines, help us understand whether or not Portland’s housing supply will increase enough (or not enough) to meet housing demand over time. Here, we’re delving deeper into the expansion of Portland’s new zoning, RIP2, that will allow the construction of multiple additional dwelling units (ADUs) on single-family lots with fewer restrictions. In June, 2022 RIP2 passed and is in effect throughout Portland, Oregon. First, let’s look at what...
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RIP2 Portland Residential Infill Project Update
August 1, 2022
In our recent article, Top 5 Portland Real Estate Market News Stories so Far 2022, we touched on the most recent update on the Portland Residential Infill Project (RIP1): the development and implementation of RIP2. Portland’s residential infill project, in addition to new home construction rates, and updated ADU (additional dwelling unit) guidelines, help us understand whether or not Portland’s housing supply will increase enough (or not enough) to meet housing demand over time. Here, we’re delving deeper into the expansion of Portland’s new zoning, RIP2, that will allow the construction of multiple additional dwelling units (ADUs) on single-family lots with fewer restrictions. In June, 2022 RIP2 passed and is in effect throughout Portland, Oregon. First, let’s look at what...
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The real estate market is shifting fast in Portland, Oregon and around the country. We’ve got your latest month by month report on the Portland market here. If you’re looking for tips on remodeling to improve your home value before going to market, we’ve got that too. You Can’t Trust Online Home Value Estimates When the real estate market is shifting fast, online estimates designed by algorithms get worse and they weren’t good to begin with. In fact, Zillow’s Zestimate is so bad, it nearly bankrupted the company in 2021 when they briefly turned into an online cash home buyer before loosing half a billion dollars in the process. But again, when the real estate market is actively shifting, the...
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Portland Home Value Estimate, Realtor Vs. Online 2022
July 29, 2022
The real estate market is shifting fast in Portland, Oregon and around the country. We’ve got your latest month by month report on the Portland market here. If you’re looking for tips on remodeling to improve your home value before going to market, we’ve got that too. You Can’t Trust Online Home Value Estimates When the real estate market is shifting fast, online estimates designed by algorithms get worse and they weren’t good to begin with. In fact, Zillow’s Zestimate is so bad, it nearly bankrupted the company in 2021 when they briefly turned into an online cash home buyer before loosing half a billion dollars in the process. But again, when the real estate market is actively shifting, the...
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Waking up and strolling over to a bathroom without entering an open hallway or main living area in your home is a big deal. A bathroom directly connected to a bedroom, an en suite, French for following or after, is a desired convenience that causes homes to sell for more, a lot more. Perhaps you’re considering adding a suite to your home to increase home value or you’re contemplating the future resale value of a home you want to buy. Either way, let’s find out exactly how more homes with bathroom suites sell for than those that do not have them. To figure this out I’m looking at a select number of homes that fit within what I’d consider to...
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Homes with a Bedroom Suite Sell 25% Faster and for 5% More than those without.
July 27, 2022
Waking up and strolling over to a bathroom without entering an open hallway or main living area in your home is a big deal. A bathroom directly connected to a bedroom, an en suite, French for following or after, is a desired convenience that causes homes to sell for more, a lot more. Perhaps you’re considering adding a suite to your home to increase home value or you’re contemplating the future resale value of a home you want to buy. Either way, let’s find out exactly how more homes with bathroom suites sell for than those that do not have them. To figure this out I’m looking at a select number of homes that fit within what I’d consider to...
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