Sell your house for less with my fee for service packages.  There’s no need to pay a 6% real estate commission on the sale of your Portland, OR house.  My fee for service packages allow sellers to choose the level of real estate service they want and to only pay for the services they need.  With these savings, sellers can either attain a higher profit on their sale or afford to reduce the list price of their home by the amount of real estate commission savings and therefore possibly achieve a faster sale. 

You can see full details of all of my fee for service packages at www.PointClickandPack.com.  Click on the Fee for Service link in the middle of the Home page.  I look forward to assisting with your sale!     

Buyer’s are still getting the pick of the litter with current inventory levels so high in Metro Portland and the surrounding suburbs.  Increasing interest rates, a large housing availability, and fewer numbers of buyers and investors entering the market, are all factors which have been at work to fuel this slow market time.

In addition, continuous media banter about housing bubbles bursting and the real estate slump in many metropolitan areas, has nervous buyers on edge and has deterred some from buying now.  It should be noted that CNN recently reported that Portland, OR is NOT experiencing the bursting housing bubble that supposedly exists in the major east coast and midwest markets.  In fact, even though housing prices have gone down, overall housing prices have continued to appreciate in the Metro Portland area, just at a lower rate than sellers have become accustomed to.

If you are thinking about buying a home or investment property, now would be the perfect time to do so.  Although interest rates continue to rise, on a relative historical basis, they are still low - hovering just under 6% for a 30 year fixed loan.  In addition, the longer market times are forcing motivated sellers to drop their list prices to try to get a faster offer.

I would love to assist you with your Portland purchase.  Please contact me today at phyllis@pointclickandpack.com or at 503-421-2407.

CNN just reported today that nationally, real estate prices have dropped 1% from February 2006 to February 2007.  However, in some markets, prices have risen 2% - 5%.  Portland, Oregon was the number one city on the CNN list for rising real estate prices.

If you need assistance buying or selling a home in Portland, please contact me today at phyllis@pointclickandpack.com.  I look forward to assisting with all of your real estate needs.

When a real estate transaction fails in Portland, OR, who gets to keep the earnest money, the buyer or the seller? 

The buyer has three ways out of the standard earnest money agreement; (1) property disclosure law; (2) inspection contingency; and (3) preliminary title report. 

The property disclosure is the buyer’s right of revocation under Oregon law.  It consists of four pages which list, in check-box format, general statements of what the seller knows about the house since they’ve owned the home.   The buyer has 5 business days to revoke his/her offer for no reason whatsoever after RECEIPT of this document.  If the buyer is not given the disclosure form until just prior to closing, the buyer can technically terminate the transaction and keep the earnest money up to closing.  However, most listing agents and brokerages stay on top of this law and issue the disclosure form immediately upon offer acceptance.

The standard inspection contingency is 10 business days after offer acceptance.  After the home inspection, the buyer typically issues an inspection addendum and asks for repairs or a price reduction in lieu of repairs.  If the buyer decides to terminate the transaction instead of asking for repairs, the buyer keeps the earnest money.

The preliminary title report is issued by the escrow officer within 5 business days of offer acceptance.  The buyer then has 5 additional business days, once they receive their mailed copy, to challenge the title report if any unacceptable liens or encumbrances show up on the report or if any codes, covenants and restrictions (CCR’s) appear which would interfere with the buyer’s enjoyment of the property.  If the seller can remove the lien/encumbrance or change the CCR, the buyer cannot terminate the transaction based on the report.  However, if the seller cannot remove the item in question, the buyer can back out and keeps the earnest money.

All of these contingency periods normally run concurrently within 10 business days after offer acceptance.  Once all three contingencies have been satisfied, and if the buyer has not terminated the transaction as a result of one of these contingencies, then the buyer’s earnest money becomes at risk if the buyer wants to terminate prior to closing.  The earnest money would then go to the seller as liquidated damages for keeping their house off the market while waiting for the buyer to perform.

There is one exception to the seller’s ability to keep the earnest money after all contingencies have been satisfied, and that is if the buyer’s financial status changes in the form of a job loss, job transfer outside of 50 miles from the subject property, or some other unforeseen financial set-back that would preclude the buyer’s ability to secure a loan.

For additional information about Portland’s real estate market, please don’t hesitate to call me at 503-421-2407 or visit me online at www.PointClickandPack.com.  I look forward to assisting with all of your real estate needs.

Each time I get a call from a new buyer or seller, the question that inevitably comes up is about the current housing inventory in Portland.  What the caller is really trying to determine is whether we are in a buyer’s market or a seller’s market.

Right now, Portland is experiencing a buyer’s market because the amount of homes available for sale exceeds the number of buyers looking to purchase.  The Market Action report, which is published by RMLS every month, shows that in February 2007, (our most current statistics at this writing), the number of new listings is up 18.9% when compared with the inventory in January-February 2006.  However, the number of closed sales decreased by 7.9%. 

February 2007 housing inventory is 5.2, which means that if no new buyers enter the market and no new sellers put their homes on the market, it will take 5.2 months to completely sell out of all homes available for sale now.   If you compare this inventory to February 2006, when the rate was 2.7, (meaning we would sell out of homes in 2.7 months), it’s easy to see how many more homes are currently for sale versus the number of buyers looking to buy.

So, is it wise for sellers to list their homes for sale now?  Due to outside circumstances such as job transfers, change in family status, or financial issues, many sellers don’t have a choice.  But even in today’s market, if a seller lists their house at or slightly under market value, (within $5,000),  the seller should get an offer on their home.  What sellers should not expect in our current level of market activity is multiple offers within days of listing.

My fee-for-service packages allow sellers to save money on the listing side of real estate commissions.  These savings, if passed along to buyers in the form of a lower sales price on the initial MLS listing, could get sellers a faster sale on their homes.  You can see full details of all of my fee-for-service packages on my web site, www.PointClickandPack.com.  I look forward to working with you towards a successful closing!  

With fee-for-service packages, sellers are able to choose the level of professional real estate services they need and pay the listing side of the commission accordingly.  Keep in mind that the standard buyer’s agent commission in Metro Portland is 2.7% of the sales price. 

My fee-for-service packages start with a flat fee MLS listing only, which typically appeals to sellers interested in selling for-sale-by-owner, and go all the way up to full-service, which has no up-front fee.  Full details of all of my packages can be found on my web site, www.PointClickandPack.com.  Click on the Fee for Service link on the Home page.

I look forward to assisting with your sale!

2720 SE Steele

Buildable lot. City encourages mixed use - commercial/residential. Could be manufacturing facility, retail or residential. Need to do half-street improvement with any development. Easement on west side of property serves businesses behind lot. No set-back regulations along easement - can build right up to it. Zoning height limit = 30′

Lot Description: Slightly irregular lot size. Refer to plat map for boundaries. Borders industrial zoning. Check with the city if you need industrial usage. Close to Reed College and Eastmoreland Golf Course.

See more pictures at www.PointClickandPack.com.  Click on the My Listings link.

Nobody wants to be a crime victim.  Here are some easy do-it-yourself weekend projects to make your Portland, OR home safer from intruders.

1. Install dead bolts on all locks. 

2. Install motion-detector lights in the driveway and/or on the front porch.  Pathway lighting is also an effective deterrent.  Remember that it’s more risky to break-in to a well-lit house than a dark house.

3. If you are going to be away from your home for an extended time frame, add timers to some of your interior lights.  Timers will turn particular lights on and off at specified times each day and will give anyone who is watching your house the appearance that someone is home.

4. Trim large shrubs at the bottom to make them less likely hiding spots. 

5. Install a peep hole in your front door so you always know who’s on the other side before opening.

6. Purchase a locking screen door and keep this door locked if you want to leave your front main door open to get some fresh air in the house during the summer months. 

7. Leave a car in the driveway if you will be away on vacation.  It gives the appearance that someone is home.

8. After purchasing a new home, change all of the locks.  You never know to whom the previous owner gave a key and then forgot that person had it.

For more safety ideas, go to www.cnn.com/openhouse or contact me today at www.PointClickandPack.com.  I look forward to working with you! 

With global warming becoming more and more of a threat, Portland home owners are beginning to make small changes in the ways in which they live to try to be more enviromentally-friendly.  Here are some energy-efficient facts for making your kitchen greener from www.cnn.com/openhouse.

1. Using a dishwasher is 35% more water efficient than hand washing your dishes.  

2. Cooking on a gas range is 50% more efficient than cooking on an electric range.

3. The most energy-efficient style of refrigerator is one in which the freezer is on the bottom.  The least energy-efficient style is the side-by-side.

4. If you purchase new appliances, look for appliances with “Energy Star” stickers, as these utilize energy-efficient features.  In addition, in Oregon, you will get a tax credit for purchasing these appliances.

5. Change all of your light bulbs to the new long-lasting energy-efficient bulbs.  These cost more at first but do last much longer than standard bulbs and they cut down on your electric bill.

For more energy-efficient tips, or if you’re looking for a new home utilizing environmentally-friendly materials and appliances, contact me today at www.PointClickandPack.com. 

Find out what your home is worth in today’s market.  For your FREE online market analysis, go to www.PointClickandPack.com.  I’ll email your market value to you within 24 hrs. 

Also, please visit my Fee-For-Service page to find out how you can save money on real estate commissions while listing your house on the Portland MLS. 

I look forward to assisting with all of your real estate needs.