We’ve all been there: you get that email from Zillow telling you how much more your home is worth than what you paid for it even a few short years ago. It’s an enticing idea, to think your house has gained so much equity, and that you could profit off of that. And Zillow’s Zestimate tool, which gives you a quick estimate of your home’s value has been around for years. On top of that, the site gets a ton of traffic, and it’s generally a good idea to have your home listed there. So that must mean the Zestimate is pretty reliable, right? Think again. While the Zestimate is undoubtedly tempting, it doesn’t tell the whole story. And Zillow...
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Is the Zillow Zestimate Accurate? 2021 Update
April 19, 2021
We’ve all been there: you get that email from Zillow telling you how much more your home is worth than what you paid for it even a few short years ago. It’s an enticing idea, to think your house has gained so much equity, and that you could profit off of that. And Zillow’s Zestimate tool, which gives you a quick estimate of your home’s value has been around for years. On top of that, the site gets a ton of traffic, and it’s generally a good idea to have your home listed there. So that must mean the Zestimate is pretty reliable, right? Think again. While the Zestimate is undoubtedly tempting, it doesn’t tell the whole story. And Zillow...
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Zip codes are just another part of our everyday life, right? We use them, but most of the time don’t think much about them. But understanding how the zip codes work in your area helps when you’re buying or selling a home. Knowing your zip code, or the zip code you’d like to live in, may prove to be a useful tool in your real estate arsenal. Keep reading to find out how to understand Portland zip codes, and how they can help you. How Do Zip Codes Work? Let’s start off with some basics. The US Postal Service instituted zip codes back in 1963 as a way of streamlining delivery. We’re talking about a time when suddenly air shipping...
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Portland Zip Code Map: 2021 Update
April 16, 2021
Zip codes are just another part of our everyday life, right? We use them, but most of the time don’t think much about them. But understanding how the zip codes work in your area helps when you’re buying or selling a home. Knowing your zip code, or the zip code you’d like to live in, may prove to be a useful tool in your real estate arsenal. Keep reading to find out how to understand Portland zip codes, and how they can help you. How Do Zip Codes Work? Let’s start off with some basics. The US Postal Service instituted zip codes back in 1963 as a way of streamlining delivery. We’re talking about a time when suddenly air shipping...
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Selling a tenant occupied home has never been trickier. A landlord must be aware of constantly changing local regulations, whether it be state, county, or city and at the same time keep an eye on federal emergency regulations. All of the above governmental agencies can override any existing lease between the homeowner and tenant. Selling a Home with a National Eviction Mandatorium in Place Right now we are still in a Federal national eviction mandatory that lasts until June 30th, 2021, and could be extended further. In effect, no homeowner in all 50 states can simply let their contract with the tenant expire or remove a tenant for issues like non-payment. If a homeowner evicts a tenant under Federal protections...
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How to Sell a Home with a Tenant Inside in 2021
April 14, 2021
Selling a tenant occupied home has never been trickier. A landlord must be aware of constantly changing local regulations, whether it be state, county, or city and at the same time keep an eye on federal emergency regulations. All of the above governmental agencies can override any existing lease between the homeowner and tenant. Selling a Home with a National Eviction Mandatorium in Place Right now we are still in a Federal national eviction mandatory that lasts until June 30th, 2021, and could be extended further. In effect, no homeowner in all 50 states can simply let their contract with the tenant expire or remove a tenant for issues like non-payment. If a homeowner evicts a tenant under Federal protections...
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According to the latest RMLS data, Portland may be hitting another record low for housing inventory. The 90 day average sits at 550 active listings, down from 891 last year. Portland’s inventory crisis consistently topped the list of biggest Portland real estate news stories over the past year, with the pandemic making a clear impact. We’ve theorized that fewer folks were willing to sell during the pandemic, but that Covid-19 doesn’t appear to have deterred buyers. With demand consistently outstripping supply, inventory suffers. But what happens now that we’re entering the busy season for Portland real estate? The weather is getting nicer, and more folks are getting those vaccines. So will Portland see more homes go on the market? April...
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Market Update: Will Portland Climb Out of the Inventory Slump?
April 13, 2021
According to the latest RMLS data, Portland may be hitting another record low for housing inventory. The 90 day average sits at 550 active listings, down from 891 last year. Portland’s inventory crisis consistently topped the list of biggest Portland real estate news stories over the past year, with the pandemic making a clear impact. We’ve theorized that fewer folks were willing to sell during the pandemic, but that Covid-19 doesn’t appear to have deterred buyers. With demand consistently outstripping supply, inventory suffers. But what happens now that we’re entering the busy season for Portland real estate? The weather is getting nicer, and more folks are getting those vaccines. So will Portland see more homes go on the market? April...
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The Portland real estate market has been quite volatile since the advent of COVID 19 in early 2020. No one predicted the seller’s market we are in now. After COVID 19 hit, home became more important than ever to the entire country, somehow at the same time dramatically decreasing inventory and dramatically increasing buyer demand. While we are in the traditionally hot spring sellers season, it feels hotter than anything I’ve experienced as a local sellers agent since 2003. Inventory should increase over the span of the year and this fall should be a much easier time to buy in the Portland real estate market. How many buyers will come through my home before it sells? Many homeowners are watching...
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How Many Showings to Sell a Home? 2021 Update
April 9, 2021
The Portland real estate market has been quite volatile since the advent of COVID 19 in early 2020. No one predicted the seller’s market we are in now. After COVID 19 hit, home became more important than ever to the entire country, somehow at the same time dramatically decreasing inventory and dramatically increasing buyer demand. While we are in the traditionally hot spring sellers season, it feels hotter than anything I’ve experienced as a local sellers agent since 2003. Inventory should increase over the span of the year and this fall should be a much easier time to buy in the Portland real estate market. How many buyers will come through my home before it sells? Many homeowners are watching...
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Our awareness of the threat of seismic activity in the Portland area increases every year, and with it concerns for both sellers and buyers. Recent studies show that at least one local fault is more active than previously thought. And this discovery increases the likelihood that other faults in the area may put Portland at risk for an earthquake sooner rather than later. But the good news is, with increased knowledge comes increased ability to confront the situation. For example, it seems that each year, better and more comprehensive maps help us understand where the most vulnerable spots are. And then there’s seismic retrofitting, a process that makes homes better equipped to handle an earthquake. Portland is once again ahead...
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Portland Seismic Retrofit Guide: 2021 Earthquake Readiness
April 7, 2021
Our awareness of the threat of seismic activity in the Portland area increases every year, and with it concerns for both sellers and buyers. Recent studies show that at least one local fault is more active than previously thought. And this discovery increases the likelihood that other faults in the area may put Portland at risk for an earthquake sooner rather than later. But the good news is, with increased knowledge comes increased ability to confront the situation. For example, it seems that each year, better and more comprehensive maps help us understand where the most vulnerable spots are. And then there’s seismic retrofitting, a process that makes homes better equipped to handle an earthquake. Portland is once again ahead...
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Given the pandemic, home buyers are increasingly turning to the internet to vet homes before seeing them in person. But while this trend may have intensified due to Covid-19, it didn’t start there. Why see a ton of homes in person when you can filter them by searching online? Prospective buyers, especially millennials, increasingly look toward online photos in their home search. In fact, according to inman.com, 44% of millennials surveyed indicated that they would buy a home solely based on its online photos. Virtual home staging presents a more affordable alternative to traditional home staging, focusing on drumming up online interest. Today we’ll take a look at how virtual home staging works, what it costs in Portland, and how...
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Sell your Home with Virtual Staging
April 5, 2021
Given the pandemic, home buyers are increasingly turning to the internet to vet homes before seeing them in person. But while this trend may have intensified due to Covid-19, it didn’t start there. Why see a ton of homes in person when you can filter them by searching online? Prospective buyers, especially millennials, increasingly look toward online photos in their home search. In fact, according to inman.com, 44% of millennials surveyed indicated that they would buy a home solely based on its online photos. Virtual home staging presents a more affordable alternative to traditional home staging, focusing on drumming up online interest. Today we’ll take a look at how virtual home staging works, what it costs in Portland, and how...
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As we’ve noted before, school rankings and performance have a tangible impact on real estate prices. Areas with high-performing schools will see more demand and therefore higher price tags. This is even more true today, in the age of the internet. More school information than ever is available at your fingertips. While what makes a good school is very subjective (data points won’t describe the dedication of a teaching staff, for example), having this information is a great way to get a feel for where to find great schools. Under the Fair Housing Act, Realtors can’t “steer” you towards a certain school district. These regulations are meant to prevent discrimination; real estate agents shouldn’t be pushing a client towards a...
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The 5 Highest Rated K-8 Schools in Portland in 2021
April 3, 2021
As we’ve noted before, school rankings and performance have a tangible impact on real estate prices. Areas with high-performing schools will see more demand and therefore higher price tags. This is even more true today, in the age of the internet. More school information than ever is available at your fingertips. While what makes a good school is very subjective (data points won’t describe the dedication of a teaching staff, for example), having this information is a great way to get a feel for where to find great schools. Under the Fair Housing Act, Realtors can’t “steer” you towards a certain school district. These regulations are meant to prevent discrimination; real estate agents shouldn’t be pushing a client towards a...
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Real Estate Commission is not typically split 50/50 between the sellers and buyers agent. Many sellers assume that real estate commission, whether they are paying their real estate agent 6%, 5%, 4%, or something else, is simply split 50/50 with the buyers agent. This would be a false assumption. All real estate commissions and negotiable and there are no set standards. What we can do is report on what sellers agents are offering buyers agents in a local real estate market. Buyers agent commission is typically advertised in local MLS systems by sellers agents. In the Portland, Oregon real estate market, RMLS is the system used by most sellers agents, and all the listings in RMLS have some rate of...
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Portland Real Estate Buyers Agent Commission Rates 2021
March 31, 2021
Real Estate Commission is not typically split 50/50 between the sellers and buyers agent. Many sellers assume that real estate commission, whether they are paying their real estate agent 6%, 5%, 4%, or something else, is simply split 50/50 with the buyers agent. This would be a false assumption. All real estate commissions and negotiable and there are no set standards. What we can do is report on what sellers agents are offering buyers agents in a local real estate market. Buyers agent commission is typically advertised in local MLS systems by sellers agents. In the Portland, Oregon real estate market, RMLS is the system used by most sellers agents, and all the listings in RMLS have some rate of...
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It’s not exactly a secret that Portland has been on the forefront of urban movements, now popularized, for decades. This city values the environment alongside its citizens’ enjoyment of it. From biking to hiking, from walking the neighborhood to getting out of town, Portland wants its people out there. (And its environment protected all the while.) Unsurprisingly, Portland maps show up to the challenge! In honor of this, today we’ll look at the top 5 Portland maps that showcase our city’s dedication to livability and sustainability. What Makes Portland a Livable City? The question of livability is no doubt debatable and subjective. But for our purposes here, we’re looking at a few key factors. First, mobility. How easy is it...
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Top 5 Portland Maps for Sustainability and Livability in 2021
March 29, 2021
It’s not exactly a secret that Portland has been on the forefront of urban movements, now popularized, for decades. This city values the environment alongside its citizens’ enjoyment of it. From biking to hiking, from walking the neighborhood to getting out of town, Portland wants its people out there. (And its environment protected all the while.) Unsurprisingly, Portland maps show up to the challenge! In honor of this, today we’ll look at the top 5 Portland maps that showcase our city’s dedication to livability and sustainability. What Makes Portland a Livable City? The question of livability is no doubt debatable and subjective. But for our purposes here, we’re looking at a few key factors. First, mobility. How easy is it...
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