RMLS just issued the November publication of the Market Action report.  Inventory levels are still incredibly high in the Metro Portland area.  At November’s rate of sales, the 14,435 active residential listings at month’s end would last about 8.3 months.  This is down slightly from October 2007’s 8.4 months of inventory.  What does this mean for local real estate?  That it’s still a buyer’s market since buyer’s have so many homes to choose from.  If you are selling a home, you need to remain very realistic about your list price.  Homes priced evenly slightly higher than market value are not generating buyer traffic or offers. 

You can lower your list price by reducing the amount of real estate commission you pay out.  Check out my Fee for Service packages on my web site, www.PointClickandPack.com, for more details about how you can save money on commissions and still get optimum exposure for your home on RMLS and the public Internet sites.

I look forward to hearing from you soon and assisting with your sale!

Most people are aware that we’re now in a buyer’s market. For the past few months, sellers have watched as more and more homes have come on the market allowing buyers greater negotiating power over sales price and repair issues.

My firm belief is that there are only two things that sell a house, price and location. You can’t do much about a house’s location, but you can price it lower than market if your house sits on a busy street or near commercial or industrial property. If the seller is firm about keeping their sales price at a particular price point, there are a couple of other ways they can try to improve their chances of getting a great offer.

1. Offer incentives such as a credit towards the buyer’s closing costs or a decorating allowance if the house is dated or in need of new carpeting.

2. For condominiums or townhouses, offer to pay up to six month’s worth of home owner association dues.

3. Offer a higher buyer’s agent commission (BAC) to make the house more attractive for Realtors to show and sell. The standard BAC is 2.7% of the sales price. A good incentive BAC would be 3% or 3.15%. I’ve even seen commissions offered at 3.5% and would absolutely LOVE to sell one of those!

4. Include in the house sale something unusual of value. This incentive would typically only apply to high end homes where some sellers have included a new car with the house. Lesser expensive value items may include upgrading the kitchen appliances to stainless steel.

5. Think about hiring a professional staging company to give you ideas about how to reposition your furniture and accessory items, remove unnecessary clutter and/or paint accent walls so that your home elicits a WOW factor when buyers enter for showings.

When you sell your home, make sure you know about the other homes in your area that are also on the market. These houses are your direct competition since any buyer looking at your house will probably also see these and will be making comparisons amongst all houses toured.

Also, consider my fee-for-service packages which allow sellers to save real estate commissions on the listing end and may therefore enable sellers to pass on those savings to the buyer in the form of pricing their home at a lower price point initially or offering one of the incentives above. You can see full details about all of my fee-for-service packages on my web site, www.PointClickandPack.com.

Low interest rates and higher inventories of homes for sale have turned many locales into buyer’s markets. But rather than rush into the complex process alone, house-hunters should consider hiring their own agent. Buyers should take the time to find a Realtor who will provide them with the level of representation they desire.

I am an Accredited Buyer’s Representative and am a member of the Real Estate Buyers Agent Council, (REBAC). As such, I have extensive training and education when working with buyers and provide a professional level of service and expertise in the market. This training also assists me when working with sellers, as I understand what other buyer’s agents look for when showing homes to their clients and can help you prepare your home so that it shows in its best light. I look forward to working with you and serving your Portland real estate needs!

Buyers Agent

As an Accredited Buyer’s Representative, what I offer my clients is unique. I not only facilitate a transaction, but I also provide personalized service. As your Buyer’s Agent, you will receive the following benefits:

• I show absolute loyalty to my customers, am a good listener, and will work to meet your individual needs.
• I’ll provide you with instant details about the most recent homes for sale. I have access to all homes for sale daily, and will provide them to you via e-mail, fax or phone. In addition, I check my e-mail about 4 times a day and return correspondence within 24 hours.
• I will represent your interests in the best possible light to other Realtors and Sellers when presenting your offers and will work hard to give you an edge at the bargaining table.
• I’ll provide you with names and phone numbers of inspectors, lending officers, and other professionals in the industry who have gained my trust.
• I offer a Handy Andy service to take care of those minor issues that arise just after you move in.
• You’ll always have my full attention!

Sellers Agent

My objectives are to communicate the results of my activities on a weekly basis to you, assist you in getting the highest possible dollar value for your property (in the least amount of time and with the least amount of inconvenience to you), and get as many qualified buyers as possible into your home until it is sold.

Prepare Your Home For Sale
I will spend as much time as needed to go over the entire property with you, both inside and outside. I will make a list with you of suggestions and recommendations about your home so it will show at its very best during its time on the market.

The Multiple Listing Service
I will professionally represent your home to the Multiple Listing Association exposing your home to every agent in the area.

Follow Up
Throughout the duration of your listing, I will follow up with Realtors from the Multiple Listing Service that have shown your home to get their client’s responses and comments.

Direct Marketing
I will professionally create and produce flyers for your home to be placed in the flyer box on the yard sign. In addition, I will mail postcards to the surrounding neighborhoods promoting your home.

Internet Web Sites
I will continuously advertise your home on the RMLS web site with a property description, photograph and school district information. I will e-mail and fax photos and a detailed description of your home to select agents. Your home will be marketed on the #1 most visited web site by Buyers, Realtor.com, as well as on my personal web site, www.pghazi.com.

Broker’s Open Houses
I will hold open houses for the real estate agents in the Multiple Listing Association on a regular basis until the property is sold. Broker’s open houses are held every Tuesday.

Open Houses
I will hold public open houses whenever possible.

Advertising
On open house weekends, I will advertise your home in The Oregonian Sunday Real Estate Section.

My Communication With You
I will keep in touch with you at least once a week as my work progresses either verbally or via e-mail.

Offers
I will represent you upon the presentation of all contracts to help in negotiating the best possible price and terms for you.

Escrow and Closing
I will handle all follow-up and keep you informed on all mortgage, title, and other closing procedures.

This marketing program is my commitment to you! It is my goal to provide you the latest in marketing and customer service. I will work hard to represent you in the prompt sale of your home at the best possible price. Since I build my business on referrals from satisfied clients, the highest compliment you can pay me is to refer me to all of your friends and family for all of their real estate needs. I look forward to serving you!

Who pays the commission and how much is it?

The commission is paid by the Seller and is negotiated with the listing Broker based on the sale price of the home.

What is the MLS?

The Multiple Listing Service is an association to which property listings are submitted. Almost all real estate companies belong and share their listings. The MLS is the main database to obtain information and all members have equal opportunity to sell the properties listed.

What is earnest money?

Earnest money is a good faith deposit a Buyer makes when they make an offer to purchase a home. The earnest money is usually applied to the down payment and/or closing costs of the Buyer. However, if the Buyer breaks the terms of the contract by misrepresenting their financial status, failing to provide earnest money when due, or by failing to complete the transaction in accordance with contract, the earnest money can be lost to the seller. The earnest money is refunded to the Buyer if the seller does not accept the Buyer’s offer, the Seller cannot provide marketable title, the Seller fails to complete the transaction in accordance with the contract, or the Seller fails to complete any condition which the Buyer has made an express contingency in the agreement.

What is an appraisal?

An appraisal verifies the value of the property by looking at other recent sales in the area. It is performed by a licensed appraiser who is selected by the Buyer’s bank or lender. An appraisal is primarily done to assure the lender that they are not loaning more money than the house is worth.

What is title?

A title search is done before a home sale can be completed. A title search ensures that the Buyer is getting all the rights to the property (title) that he or she is paying for. The title company insures there are no recorded liens against the property that will affect the marketability of the title.

What is escrow?

Escrow is the independent, impartial party who prepares and records closing documents according to the terms of the Earnest Money Agreement. The escrow company obtains all necessary documentation to clear title to the property and collects all required funds from the appropriate parties.

What is closing?

Closing is the point in time when the title is transferred and recorded with the County. It is also when the Seller is paid. It may or may not be the date the Buyer takes possession. Closing and possession are often different. Also note that closing is not the same as signing!