Sellers

This month's reports from S&P and PMI both suggest that sellers could increase their net proceeds by bringing their home to market now instead of waiting for conditions to improve.  Earlier this month when looking at the Portland Market Report, we observed increasing sales velocity and balanced levels of inventory in many neighborhood.  We are advising many of our sellers to get their homes ready for market now instead of waiting until later in the Spring or early summer.

Eleven MSAs in S&P's 20 city composite are reporting new lows.  Portland is one of these eleven markets. The 20 city composite is now withing 2% of the March '09 trough.  If the current trend continues, the housing market will enter into a "double-dip recession."

In this month's PMI…

We just finshed reviewing the final Portland real estate sales stats for February 2011 and want to share the following highlights:

North Portland.  Very little change from January.  This area has stabalized in a fairly balanced market.  Inventory is flat, properties priced to sell are moving in approximately 2 months.  Price per sq. foot stats are down $17/sf, caused by no sales over the last 90 days above $500K.

Northeast Portland.  Positive trends in pending sales which increased by 34 units, cleariong some of the aged inventory from the market.  This indicates that the time good for sellers to bring their NE Portland homes to market, and for investors to purchase into the positive momentum.

Southeast Portland.  New Sales increased 43 units,…

As we approach spring, take note of storm and water damage to your home.  Most houses sustain at least a few problems during the winter months. Make the repairs now, before starting on any remodeling or other major warm-weather projects.

Check for damage to your roof

Signs include missing, curling, broken or cracked shingles. Pooling or ponds of water that fail to drain from flat roofs may indicate low areas and inadequate drainage. Moss growth can also cause damage to shingles.

Serious roof leaks are not caused by missing or damaged shingles, but rather by broken or improperly installed roof flashing. Repair or replace it, as needed.

Clear gutters & downspouts.

Water damage often comes from clogged gutters…

See the latest in the areas remodeling and design trends at the Build, Remodel & Landscape Show.  Professionals will be on site to talk with the public about the latest and greatest in cabinets, countertops, flooring, windows, additions, basement finishing, and outdoor landscaping. 

Call us or send an email for your free tickets!

"I'm done looking at Short Sales."   Any broker that helps large numbers of buyers will report hearing this phrase uttered in disgust by frustrated buyers who cannot get a timely response from the bank's asset manager on their short sale offer.  Sellers in the Portland market are frustrated too.  I've noticed that they're not typically as vocal with their frustration. 

If I was facing a short sale, I know that I wouldn't want to draw attention to my problems by complaining that the bank is taking too long to make a decision. It's difficult enough to ask for help, so holding the bank accountable to respond in a timely manner seems too much to ask for.  

A speedy resolution is best for all parties:

• Sellers can move on with their lives and down-size…