Ask any real estate agent in the Portland, Oregon area and they will all say the same thing. The number one goal when taking on a listing is to Get The Listing Sold Fast! Working with the right Portland real estate agent can make or break the transaction. This is where the Godfrey Real Estate Group comes in. Here are a few items that can help with the process.
The seller should willingly be able to allow access to the home, condo, or apartment for any potential purchasers if they are realistically looking to sell fast. The more that the seller is unable to allow this to occur, the more likely the property will stay on the market even longer, potentially leading to less sales and even less value. Although Portland’s current market calls for fast sales and high turnaround, it would be wise to still stick with the tried and true method of traditional selling.
People make their first impressions based solely on the look and feel of the Portland home for sale. The better it looks, the better you look. Wax the floors, paint the walls, get rid of the old debri in any room and show the property. Whether looking to lease or sell, it doesn’t matter, presentation is key to the success of the transaction. The more presentable the home is, the more likely it is to sell fast.
Now has never been a better time to sell as the market is recovering, inventory is low and the prices are rising daily. We have heard this enough times to understand that yes, now is a great time to sell. The only issue is whether or not the buyer has available funds to purchase. This is where financing comes in. A good mortgage on the property can make or break any Portland real estate sale. Make sure that the buyer is serious when looking to purchase your property and allow them ample time to get the finances in order. This is tedious, we know, but a necessity when making the sale.
THE PRICE IS RIGHT
The price is always right. Even Bob Barker and Drew Carey could tell you that selling Portland real estate is all dependent on the price. Now in this current sellers market, negotiating may not be necessary and the listing price may actually end up being too low. That’s not a bad issue to have after all. The old marketing saying goes “put the price just below where the consumer won’t pay for it”. This will increase your profits and bring a happy seller, buyer and lender.
It is obvious to see that from a one year stand point, the Portland real estate market, housing interest rates and real estate in general is back. With a rise in interest rates of over 1%, as well as an increase in overall prices, the difference in payment is dismal to the average 2013 Portland home buyer. To say that $216 a month is a small increase is a vast understatement.
As projected, interest rates are set to sky rocket again in the next few months. Now is the best time to buy as interest rates will continually rise leaving certain home buyers looking at lower priced homes as monthly payments will drastically increase. Don’t get left in the dusk looking at what you could have had the month prior. Find your Portland Real Estate now and be glad that you did!
The company RealtyTrac has recently announced their Q1 2013 U.S. Foreclosure & Short Sales Report™. After thoroughly reading through all of the report, one of the most interesting and intriguing aspects of the actual report itself was the lack of completed Short Sales. According to the report, Portland real estate properties not in foreclosure that have been sold as short sales from the bank in the first quarter were accounted for an approximate 15% of all residential Oregon real estate sales. This is actually down an amazing 10% from the previous quarter (4th quarter of 2012) and down a very astonishing 35% from the first quarter of 2012.
Daren Blomquist, vice president at RealtyTrac, was also intrigued by the lack of short sales occurring:
“We expected foreclosure-related sales to be lower given the downward trend in new foreclosure activity nationwide over the past two and a half years, but the decrease in non-foreclosure short sales was a bit of a surprise given the 11 million homeowners nationwide still underwater.”
Certain Real Estate Heavy Markets Still Heavily Impacted
Although the overall United States numbers of real estate short sales are currently down, there are still a few markets in which this category is still a large issue. Here are the top six states with the highest percentage of short sales:
- Rhode Island (44%)
- Connecticut (42%)
- Massachusetts (40%)
- Nevada (29%)
- Florida (26%)
- Ohio (24%)
Here are the major real estate markets with the highest percentages of short sales:
- Boston (38%)
- Cleveland (33%)
- Memphis (32%)
- Las Vegas (32%)
- Detroit (30%)
Why is there a Decrease in Short Sales?
Even though the overall decrease is still very shocking to most home buyers, sellers and agents, Blomquist explains why this phenomenon may have taken place:
“Rising home prices in many markets are stunting the continued growth of short sales by reducing incentive for both underwater homeowners and lenders. Underwater homeowners may be willing to stick it out a few more months or even years in the hope that they will be able to walk away with money at the closing table and without a hit to their credit rating, and for lenders a failed short sale may no longer translate into bigger losses down the road given that average prices of bank-owned homes are rising — at a faster pace than non-distressed home prices in many markets.”
Even with this dramatic decrease in short sales, they are still going to remain a vital part of the real estate industry as 15% is a substantially significant number when looking at millions of homes being sold. However, the overall decrease is a great sign that the Portland housing market is turning around and the bidding wars that are occurring are going to be sticking around for as long as the inventory remains so low.
If you are thinking of selling your Portland home, now is the best time to do it. With low inventory and high amounts of buyers, you will see an offer within days of listing! Contact us at the Godfrey Real Estate Group and see how we can help make your real estate sale that much simpler! With mega agent Lori Godfrey, you can expect to have your home marketed, listed and staged beautifully!
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Do you happen to know what it is that differentiates the average Portland real estate agents from the high dollar, top producing mega agents in this modern real estate industry? In all honesty, the answer to that question is quite simple. Trust and Knowledge. Top producing agents have the experience to convey exactly what you need to know about the market, the overall industry, your housing opportunities and what to expect. By displaying this information, you can easily trust these individuals or teams as they are the backbone of your goal. Great Oregon real estate agents or teams already anticipate any and all concerns that a buyer or seller may wonder and is completely prepped to state ease any worry by taking the time to easily and efficiently answer all questions that you may have.
Are you ready to put your current Portland real estate agent to the test? Let’s see if you already know these answers based off of their experience.
Four Major Real Estate Questions Being Asked Today
Here are four main real estate oriented questions all buyers and sellers are currently asking:
- As the real estate market recovers nicely, should I try to sell on my own?
- Where do you expect the home prices to be headed?
- Is this a new ‘housing bubble’ that is forming?
- How does a rise in interest rates impact me as a buyer?
Do you know the answers to these questions? If you are unaware of any of these answers, then it may be time to ask the real estate agent you are working with. If you then still do not have substantial answers, then that may be clear enough to know that the agent you are working with does not have your ultimate trust in selling your home. A top producing agent is very noticeable if you take a look at these few questions. Obviously, your questions may change from time to time, but these will stay dominant in an industry laced with bidding wars and low inventory.
The Godfrey Real Estate Group has been described as the number one real estate service in Portland, Oregon. With countless properties listed and sold over the past 12 months, Lori Godfrey and her team of experts work tirelessly to create a seamless transaction for all listed homes, as well as buyers looking for their dream property. With a market geared towards the sellers, bidding wars are happening on a daily basis and now has never been a better time to sell your property for above market value return.
Contact the top rated Portland Real Estate group and sit back, relax and enjoy the easiness of how the real estate process should be! Ask about a free Comparative Market Analysis and see how your property sits to the rest in your neighborhood.
The Godfrey Real Estate Group
1915 NW Amberglen Parkway
Beaverton, OR 97006
Many Americans are chatting about the reasons why right now is the ideal time to buy new Portland real estate. We have already gone over the reasoning as to why now is the opportune time to purchase a home, but lets dive a little deeper into why selling your Portland home right now makes complete sense. We have compiled 5 reasons as to why right now is the best time to sell.
1.) Demand for All Oregon Real Estate Is Extremely High
Any real estate available is currently selling at the quickest pace since late 2009 when the market jumped due to the home buyer tax credit. The current Existing Home Sales Report by the National Association of Realtors (NAR) stated that monthly real estate sales have substantially increased 9.7% over the previous month from last year. Total homes and properties sold have been above year-ago levels for 22 consecutive months. Buyer traffic Is up to an unheard of 31 percent higher than one year ago and these Oregon real estate buyers are quite serious about purchasing.
2.) Supply Is Slowly Starting to Increase
The total property inventory this previous month rose 11.9% to a whopping 2.16 million homes for sale. This, as of right now, displays a 5.2-month inventory supply at our current rate of sale, compared with an extremely low 4.3 months in January. Most Portland real estate experts are expecting inventory to continually raise as negative equity slowly starts to escape most sellers homes. Bidding wars are occurring, and selling your home now may result in a higher price than originally thought.
3.) New Home Construction Is Coming Back With A Bang
During the previous few years, new homes were not a worry for competition when looking to sell your previously owned property. As the market starts recovering faster though, national builders such as David Weekly, D.R. Horton, Meritage Homes and KB Homes are making a drastic change to their building strategy. Although there are multiple differences that you must look into when comparing new versus pre-owned homes, this is still an upcoming threat to look at.
4.) Interest Rates Are Drastically Rising
Shown from Freddie Macs Primary Mortgage Market Survey, real estate interest rates for a traditional 30-year mortgage have increased to an unprecedented 3.98%, which ultimately represents a substantial rise of more than ½ point since January of this year. What is even scarier, is that even the experts in the field of mortgage rates are still expecting them to increase. For example, Polyana da Costa, senior mortgage analyst at Bankrate.com said: “Rates are unlikely to keep going up so quickly and should remain below 5%.” Whether you are looking to increase or downsize your current living situation, purchasing a home one year from now will be much greater than the rates you can receive at this moment.
5.) Its Time to Make the Move You Have Wanted To
Put down on paper the reasons why you would even think about moving and lets take a quick look at what is available for you right now. You have the ultimate power again to take back all of the control of your living situation by just letting us help you sell your house today. The time has officially come when you and your family can make the move, for the right price, and enjoy what truly matters in life, being with the ones you love. Oregon real estate is on the rise and this sellers market is just getting better. We have shown you statistics that state that the bidding war is just beginning and now is the best time to sell.
The Godfrey Real Estate Group specializes in listing and selling of Portland real estate. As a top rated Keller Williams Sunset Corridor team, we have closed on average 30+ transactions yearly when the typical agent only does 8-12. With aggressive marketing and sales techniques, the Godfrey Real Estate Group can provide you with a sale faster than most real estate agents. List your property with us today and enjoy the benefit of an easy transaction with multiple offers.
The Godfrey Real Estate Group
1915 NW Amberglen Parkway
Beaverton, OR 97006