I hope you will choose to participate! It’s a great time to sell or buy a home in Portland. Rates are down. Inventory remains low. There are great opportunities in the market now. Be honored to chat.

Thinking to purchase a new home but a bit scared of the current interest rates? Here are a few things to consider:

• Some buyers were waiting for home pricing to drop, we’re not seeing much of that although the market has slowed a bit. We never have enough homes for sale to meet the demand here in the Greater Portland Metro area…. so pricing is holding pretty steady.

• Some buyers are waiting for rates to drop, which some economists do think will happen. But here’s the deal – they might not. So 7-8% now, may look good if they go up to 10% later…. and rates going up greater reduces your buying power . If you qualify for a $650,000 home at 7.5% interest rate…. if it hit 8.5% you may be looking at $600,000 homes instead. For the same payment. How frustrating.

• Let’s say the rates do drop, then all those buyers who are waiting will be jumping into the market. And again, we have little inventory. Now as a buyer you are pressured to make very quick decisions, and most likely will be competing with multiple other offers. Having to pay $25,000-$50,000 over asking price for a home at a lower rate, doesn’t save you any money vrs paying asking price now at a higher rate and potentially refinancing later if and when hopefully rates do drop.

One great strategy for buying now would be to have your agent negoiate a rate buy down from the seller of your potential home. Best of all worlds! Get the better rate, get your home while there isn’t a feeding frenzy, have a moment to be sure you are buying the right home for you. Depending upon your life circumstances and goals, it could be an exceptional time to buy your next home.

Happy to help you strategize! If you are considering a purchase in the next two years I’d be honored to help. Let’s talk about your unique situation and some options.

A passion project of mine! ReFit works with home owners who have fallen on both extreme financial and health challenges to make their homes safer, to keep people in their homes longer. We build wheelchair ramps, install safety bars, remodel unsafe bathrooms etc.

While I’ve been volunteering with them for years, it’s been such an honor to lead the team this year as President of the Board. I couldn’t have had a more exceptional team. I have so enjoyed working with everyone and look forward to serving as a volunteer again in 2024.

This photos is from our most recent fundraiser – we did Pups with Santa photos! Special shout out to Elle Photography for taking exceptional photos and donating her time. If you would like to volunteer with ReFit we are looking to add members to our Developement, Communication and Project Committees and would love to chat. You can also help by going online to donate, and attending one of our many fundraising events!

And as always – if you are looking to sell or buy in the Greater Portland Metro area I’d love to help you strategize. It’s an interesting market right now – and unique opportunities are presenting themselves on both sides !

It’s the time of year to consider all the great things…

What did we accomplish in 2023?  

And what are our goals for 2024?

Where did we give back? 

How are our relationships? 

 

How is our health?

Two ways I like to give back…. 

As a realtor, the homeless have always touched my heart. I just finished my annual coat drive benefiting the Blanchet House and my clients, friends, vendors and neighborhood brought over 178 coats. So grateful for all the participation and loving support.  

  

Another place I am honored to participate is by being on the ReFit Executive Board. ReFit works with people who own their own home, and due to financial and health issues are in need of a “refit.”  It might be a wheelchair ramp, safety bars, an accessible shower, etc.  and with volunteer contractors we help them out.  Keeping people in their homes longer by making these tweaks is so gratifying.

If you are looking for a place to give back in 2023, I trust you can find a way that feeds your soul. I’d love to chat with you about the opportunities to serve with ReFit if that appeals to you.

May your holiday season be bright and full of love. 

Maybe you need a stellar real estate agent and choose to call me. 

And may 2024 be everything you dream of and more!

Home buying do’s and don’ts for your loan process!

You’ve found your home, your stellar agent got your offer accepted, now let’s be careful to keep your loan on track!  Here are the top three things to do and NOT to do at this stage of the game.

Do’s:

-Promptly respond to all lender requests, this is an ongoing process and until you have keys in hand there will be ongoing lender needs.  Don’t slow your escrow. Stay on top of it.

-Contact your insurance agent of choice early in the process and let them know about your new purchase and arrange for insurance on your new home.

-Continue to make all payments on time. Your lender will have to pull your credit again a day or two before closing.

Don’ts:

-Apply for any new credit of ANY kind. Do not finance anything until after closing.

-Don’t scare the underwriting team. Don’t co-sign on another person’s loan, change your address or name.

-Don’t quit or change jobs until home is closed. Changes to employment or income during this month could cost you your new home.

There are more things to do and not do!

Happy to have a conversation with you to be sure it all goes well.