Wednesday, August 15, 2012

SW Washington Market Report

The RMLS Market Action for July was released today.  Here are the highlights from SW Washington -

  • Average sales price in July rose 7.6% over July 2011
  • Closed sales grew 6.5% over July 2011
  • Average sales price year to date is stable compared with last year
  • Inventory remained unchanged at 5.4 months
Homes that are priced well are selling quickly and with mortage rates still incredibly low, now is a excellent time to make a move.  The market trends all summer indicate we have hit the bottom of the market and prices are starting to rise.

Whether buying or selling, my objective in every transaction is to simplify the process for my clients while helping them make wise, long-term financial decisions.  If you'd like a better real estate experience, give me a call today!

OR - 503.212.2322
WA - 360.977.8329

Sunday, August 5, 2012

9 Ideas for Staging Your Home

Here's nine tips for staging your home, three cheap and easy things every seller should do, three "mid-sized" tasks that provide a good return, and three big projects that will maximize the value you get for your home.

Simple Staging

1. Clean up and de-clutter - If you are serious about selling your house, you are going to be packing soon anyway, so get an early start but putting away as much "stuff" as possible.  There's nothing wrong with your stuff, except that its "yours."  You want buyers to be able to focus on the house and envision their stuff in there.  You don't want buyers to spend their time looking at your awesome vacation photos and miss seeing the house.  Quick tip: A mixture of one-part vinegar/one-part water for getting finger prints off of stainless steel appliances.  Also, a mix of bleach and water is great for cleaning grout lines.

2.  Touch-up the paint - Hopefully if you did any painting, you had some leftover you can use to touch up any scratches or dings on the wall.  If you've personalized any rooms (very bright or very bold colors) repainting with a more neutral color will appeal to a broader range of buyers.  Quick tip: If you have one room that is a little too small, like a eat-in nook or family room, try painting it the same color as the adjacent room.  Matching colors make the rooms flow together and make the smaller room appear larger.

3.  Make luxurious bathrooms - some inexpensive bath soaps, candles, lotions placed on the bathroom counters will give your home a "high-end" feel that buyers like.

Mid-Sized Projects

1.  Lay fresh mulch - If you are getting ready to sell immediately, it is probably too late to make drastic changes in the landscaping.  But, putting down some fresh mulch will upgrade the curb appeal of your house instantly.  Don't buy mulch from a big home store, though.  You can save a lot of money purchasing from a wood recycling facility, like H&H in Vancouver or Compost Products in Portland.  Quick tip: Wood recyling places also except yard debris and wood scraps for a small fee, so if you have some shrubs that need major pruning you can drive in with a load of yard debris and drive out with some fresh mulch.

2.  Update cabinet hardware - You can update kitchens and bathrooms just by adding new hardward to your cabinets and drawers.  Replace brass knobs and pulls with more contemproary brushed nickel or oil-rubbed bronze pieces.  Quick tip: If you have wood cabinets that have seen better days, rub some orange oil over them to help return some of their lost luster and shine.

3.  Purchase new towels or linens - Putting a contemporary comforter or new towels in a bedroom or bathroom will make draw buyers attention and make the home feel new, even if it is not.  The best part is after your home sells, you will have already have new towels for your new home!

Big Projects

1.  Update appliances - HGTV's staging experts say that most sellers get a dollar-for-dollar return when they purchase new appliances.  Not only will they give your kitchen a newer feel, having the manufacurers warranty will give the buyers some extra piece of mind...just be sure to save all the purchase and warranty information to pass on to the buyers.

2.  Re-finish cabinets - If your cabinets need a little more than new hardware and a coat of wood polish, but you don't want to purchase new ones, consider having the cabinets refinished.  It's cheaper than replacing them but gives the appearance of a brand new kitchen.

3.  Paint your trim - Repainting your baseboards, window, and door trim white will lighten up the entire house.  It can be a time-consuming project, but will make your home stand out from the competition.

Friday, July 27, 2012

Home Prices Increase

Low inventory and great interest rates are starting to have an impact on home values, as one national home values index showed a small increase in year-to-year home prices.  This is the first increase in over five years.  The most recent RMLS Market report also showed positive movement on price.  Compared with June 2011, average sale price last month grew 4.8%.  The median sales price grew 7.9%.  The Portland Metro area had similar gains with an 8.6% increase in median sales price.

Thinking about selling your home?  Get a free home value report instantly right here.

Read the full article on national home values here.

Thursday, July 26, 2012

Snowman Foundation - Open House

Help support an amazing charity and get to hear a live performance by Michael Allen Harrison this weekend at Sherman Clay Pianos.  The Snowman Foundation helps provide access to the musical arts for children who otherwise might not be able to afford it.  It is an incredible foundation and the managing director is one of my previous clients.  It's a cause well worth supporting!

Monday, July 23, 2012

Distressed Property Stats

Last week the RMLS released quarterly stats regarding distressed property sales.  Distressed properties are either short sales or bank-owned homes and have a negative impact on home values.  Here's a quick summary of the numbers:

  • In the second quarter of 2012, the number of new listings that were non-distressed properties increased from 71.2% to 81.2%. 
  • The percentage of short sales dropped from 15.0% to 9.9%, while bank owned listings dropped from 13.9% to 8.9%. 
  • Non-distressed property sales as a percentage of all transactions also increased from 61.1% to 69.9%. 
  • The overall number of new listings and sales also increased.  There were 14,565 new listings from January to the end of March compared with 17,817 new listings from April through June.  Closed transaction increased from 7,621 to 10,540.

If this trend continues it will have a positive impact on home values in the Portland and Vancouver markets.  Many buyers view bank-owned houses as the best value on the market, and competition for the new listings has risen, increasing the number of multiple offer situations.  Buyers looking for a bargain should be receiving updated bank-owned listings daily or they risk missing out on an opportunity.  If you'd like to receive a daily updates with new bank-owned homes, send me an e-mail at johnblom@hasson.com.

Source RMLS Blog: www.rmlsbenefits.com

Monday, June 4, 2012

New Listing - 6919 N Mears St, Portland



Great new listing in North Portland - Beautiful 3 bedroom/1 bath with recently remodeled kitchen, newer roof and windows, and a fresh coat of interior and exterior paint.  1188 square feet - listed for $165,000. 

Get more info on 6919 N Mears St

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