The Best of PDX Real Estate

April Market Action Report

clarksuz — Thu, 17 May 2012 15:46:42 +0000

The April Market Action report from RMLS is available to view. This publication highlights residential real estate information from the Portland Metro Area. Click here to see it.

Planting Tomatoes!

clarksuz — Mon, 14 May 2012 16:37:04 +0000

May is the month to plant your edible garden. The possibilities are endless, but tomatoes are always a favorite and grow well in our Northwest weather.

There are many varieties to choose from. Some favorites include Big Boy, Big Beef and Bonnie Star. For best results you should plant top quality semi-hardened transplants from blossoms rather than planting seeds directly in the ground. Plants should be watered for 12-14 hours before transplanting. When planting, each plant should be two feet apart in rows. The rows should be three to five feet apart. Supporting the tomato plans with cages is a good idea. Tomatoes LOVE heat…consider the sunniest part of your yard to grow your tomatoes.

Tomatoes grow well in rich, well-drained soils. They should be watered regularly and deeply. Avoid over-fertilizing your tomatoes as too much nitrogen can cause problems. The harvest times will vary depending on the variety of tomatoes, when they turn orange or red and are still firm they are ready to be picked. For best results, tomatoes should ripen on the vine, but can be harvested early if you leave the vegetable on the vine and allow it to ripen.

Public Transportation May Add Value to Your Home

clarksuz — Wed, 09 May 2012 18:17:21 +0000

Portland is continuing to invest in mass transportation. As a homeowner or investor you may wonder how your homes proximity to mass transit impacts value, as many people believe it has a negative effect. New studies show that properties near, but not directly adjacent to mass transit actually increase in value. In a study of 15 rail systems across the county, researchers concluded “…light rail transit has enhanced residential property values 2% to 18% in Portland, Sacramento, San Diego, and Santa Clara, with larger changes in cities with commuter rail systems.” Being too close to mass transit may be detrimental to property values. If a home is so close to a rail line that homeowners hear and feel train noise may be difficult to sell.

Source: houselogic.com

Is it really a buyers market?

clarksuz — Wed, 02 May 2012 16:29:27 +0000

In Portland our inventory continues to drop and new listings are not coming on the market. Portland inventory is currently down to 5 months and Portland was recently listed as number three by MSN for major markets with real estate shortages.

“A year ago, buyers could wait three months and still find the same home sitting on the market, but that’s no longer the case with decent listings. Prices aren’t shooting up, but many properties are selling at list price or above.”

Home sellers in Portland are experiencing multiple offers on their homes. The supply is not keeping up with demand and there are currently more buyers than sellers in our market.

If you are a buyer remember that inventory is low, and you will have to act quickly if you find a home you want to purchase.

If you are a seller now may be one of the best times to sell your home.

Portland Inventory is low – now is a good time to sell

clarksuz — Fri, 23 Mar 2012 13:57:30 +0000

In Portland, the inventory of homes on the market is low. As we head in to the spring selling period there are fewer homes on the market than in the past two years. The inventory in months for February 2012 is down almost 60% at 6.5 versus 10.9 in 2011. If you are considering selling your home, now is a good time to do it. If you have questions about the Portland real estate inventory levels or any other real estate questions please don’t hesitate to give us a call.

Spring Cleaning Tips

clarksuz — Tue, 20 Mar 2012 17:24:51 +0000

It’s just about that time of year to start to think about spring cleaning. Whether preparing your home to sell or just need a boost of freshness, spring is an ideal time for home owners to catch up on cleaning projects. Here are some tips to get you started:

Formulate a plan
Set reasonable goals
Make sure you have the cleaning supplies needed
Focus on one area of your house at a time
De-clutter before cleaning
Donate of throw away unneeded items as you go

Click here for a spring cleaning checklist from Martha Stewart.

Short Sales

clarksuz — Thu, 15 Mar 2012 18:39:49 +0000

More banks are agreeing to a sale at a lower cost than a home owner’s mortgagebalance in order to avoid having the property fall into foreclosure, which can be more costly for a lender.

In the fourth quarter of 2011, there were more than 88,000 short sales, a rise of 15 percent compared to a year prior. Short sales made up 10 percent of all home sales sold in the fourth quarter.

Banks are now more willing to do short sales and that trend will likely “show up in more local markets in 2012 as lenders recognize short sales as a better option for many of their non-performing loans,” said RealtyTrac CEO Brandon Moore.

Entering in to a short sale transaction is not for the faint hearted. The success rate will depend on many factors and you could wait months to find out if it will even get approved. If you’d like to learn more about short sales please don’t hesitate to give us a call.

got a permit?

clarksuz — Fri, 27 Jan 2012 20:16:23 +0000

Thinking about remodeling your home this year? Then you should also be preparing to get a permit from the city. Building permits are required by law and there are legal consequences if you are caught working without one.

A building inspector has the right to require you to halt and reverse your remodel if you are found to have unknowingly violated any building codes. You will then be required to get the necessary permits and correct any unsafe work, usually at a higher rate than if the proper permits had been obtained in the first place.

Trying to sell a property in today’s market that has been remodeled without permits is a property disclosure item and will likely be required to be corrected prior to the sale closing. Trust me, it’s a huge hassle to go through this process retroactively!

PDX Holiday Shopping Guide

clarksuz — Thu, 01 Dec 2011 23:35:29 +0000

Have you heard about Portland’s “pop-up” shops? Several temporary shops selling everything from artwork to clothing have “popped up” around downtown Portland. They feature locally designed & handcrafted items that would make excellent gifts for everyone on your list. These shops offer a fabulous opportunity to support local small businesses while completing your holiday shopping. Additionally, Thursday evenings throughout December are known as “Downtown Holidates,” which offer free parking at participating garages, special events at stores, and live music! For detailed information please visit the Downtown Portland website. The holiday season is a fantastic time to explore our wonderful city and support our local businesses–we hope you have fun completing your holiday to-dos!

Interest Rates are falling……

clarksuz — Thu, 22 Sep 2011 19:56:19 +0000

Wow! Today interest rates are between 3.75% and 4.07% (according to Wells Fargo). If there was ever a time to make your move to refinance or buy, this is it! The Federal Reserve announced Wednesday that it is going to invest in long-term Treasury securities over the next nine months, so interest rates are expected to drop even lower, if you can believe that. This move is one of many strategies to stimulate economic growth in the economy. The Clark Group can help educate you about buying a home and find the right lender to meet your needs. Visit www.movingtopdx.com and connect with a professional, knowledgeable and caring real estate team. Finding the home that moves YOU! (information sourced from http://realtormag.realtor.org/, September 22, 2011)