Finding Your Portland Real Estate Superhero

To adults and kids alike, superheroes seem to have time-tested appeal. Some think it’s because they look different. Indeed, some superheroes dress uniquely. Others believe superheroes represent the ‘good guy’ and these days, we can always use more good guys and gals.  Yet others suggest that superheroes are in the rescue business and we all have an area in our lives where we could use help. Whatever the reason, it’s undeniable that superheroes hold a unique place in our imagination.

Click here or on the above play button to hear the audio podcast of this article.

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Clark Kent Could Have Easily Passed As A Realtor

Do Real Estate Superheroes Exist?
So fighting bad guys is an expected vocation for a superhero. But how could there possibly be Portland area Realtor superheroes? And would they use x-ray glasses to view inside homes to find potential problems, carry an anti-kryptonite pen to protect against real estate ‘evil doers,’ or hold their trusty multiple listing lockbox keycard in a utility belt? 

The Realty Reality
While not superhuman, some real estate agents stand far apart from others. And when hundreds of thousands of dollars are literally on the line during your next home sale or purchase, chances are you’ll feel better throughout the entire process when working with a truly ‘super’ Realtor. But is it possible to easily locate a terrific real estate agent that’s not only experienced, but also dedicated, plus recognized for excellence among his or her peers? Find out in this edition of the Oregon Real Estate Podcast.

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‘Superhero’ Defined
Superheroes are considered to be more than mere heroes, in part because their achievements transcend what is humanly possible. Superheros are often portrayed as heroes with extraordinary, superhuman powers. So while no Realtor is superhuman, in comparing performance, it’s clear that sometimes a single real estate agent can outperform several other, less productive Realtors.  There are different reasons why this is true and part of it relates to the ‘Pareto principle,’ better known as the ’80-20′ rule, where 20% of a group is frequently responsible for as much as 80% of the results.

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Some Superheroes Have a Handy Utility Belt to Get the Job Done

What’s In Your Utility Belt?
Effective Portland area Realtors are more likely to avail themselves of advanced tools on behalf of their buyer and seller clients.  But it doesn’t stop there. That’s because in addition to ‘high tech’ expertise like sophisticated monitoring of real estate activity for their clients, a ‘superhero’ Realtor also combines it with ‘high touch.’ This means they help buyers and sellers with access to not only their own specialized experience and knowledge, but also to an often vast and diverse network of other experienced professionals, such as reputable mortgage lenders, roofers, 1031 tax deferred exchange experts, electricians, surveyors, title companies and repair firms.

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“Luke…I Am Your Appraiser”

But Why Even Hire A ‘Superhero?’ 
In considering the use of your own real estate ‘superhero,’ it helps to understand what they’re able to achieve better than other Realtors. After all, why use a ‘superhero’ when any old hero will do?

To begin, it’s helpful to understand that an agent is your representative. He or she advises and acts in your best interest, which includes ‘fighting’ on your behalf. So who or what might a real estate ‘superhero’ fight?  Enter the real estate ‘super villain.’ In Portland area real estate, you’re not likely to run into comic book characters or movie baddies like Darth Vader, Lex Luthor or The Joker. Instead,  the kind of ‘super villain’ behavior you’re more likely to encounter is both real and potentially ‘deal-killing.’

The potential list of treacherous adversaries is long. Issues that could put the kibosh on your real estate transaction (while potentially costing you a lot of money) include dry rot, deferred maintenance (think leaky roof), a poor home inspection, title report issues, a low appraisal or a picky loan underwriter. If you’re a homebuyer, you can add certain challenging homeseller attititudes to the potential list of transaction implosions and if you’re a homeseller, you might include certain ham-fisted home buyer attitudes. The bottom line is that in order to deal with a multiplicity of potentially detrimental factors affecting your home purchase or sale, it’s clearly best to be prepared. And when you’re knee deep in transaction challenges, that’s not the time to wish you were working with someone more qualified.

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It’s A Bird…It’s A Plane…It’s The CRS Realtor
There are literally millions of real estate agents and as you might expect, not all of them are the same. As with any profession, experience, proficiency and dedication to clients can vary widely.

Most Portland area Realtors are indeed capable of providing good service, reasonable counsel and some helpful information. The fact is however, that some Realtors have considerably more experience, training and better results. It’s also undeniable that CRS designees are equipped to provide their home buying and home selling clients with advanced real estate insights, knowledge and competence. CRS holders hold an average of double the experience of Realtors without the Certified Residential Specialist designation. This illustrates a clear track record with elite standing.

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Realtors Holding the CRS Designation Outperform Those Who Don’t

But what differentiates a real estate superhero from other real estate agents? Here are a few examples.

X-Ray Vision
Because CRS Realtors are experienced and complete far more transactions than the average agent, many times they see can through and avoid problems, before they occur. This helps prevent missteps from an agent’s ‘on the job training.’ 

Benefits Beyond A Single Transaction
Another key benefit to working with a CRS Realtor is their networking advantage. So whether you expect to buy or sell around Portland, or if you’ll have a real estate transaction in another state, the CRS referral network is a proven way for you to connect with another ‘high caliber’ Realtor who holds the CRS designation. 

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Speaking of High Caliber: Faster Than A Speeding Referral
The CRS organization has an entire system devoted to a virtually seamless referral system for buyers and sellers who seek a super Certified Residential Specialist Realtor. For example, I recently received a phone call from an Idaho CRS agent working with buyers from Oregon. These buyers found their ‘perfect’ Idaho home and needed to sell their Oregon home in order to purchase the Idaho property. The Idaho CRS Realtor suggested they work with a local CRS agent to most effectively sell their Oregon home. Mere minutes upon receiving a phone call from the Idaho CRS agent, I was in contact with these Oregon homeowners, then proceeded to list and successfully sell their property, all in short order.  

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Only 3% of Realtors Have Attained The CRS Designation

You May Never Have Met A CRS
It’s hardly surprising if you don’t recall ever meeting a Certified Residential Specialist. A CRS Realtor is in the top 3 percent of real estate agents in the United States. That means 97% of the Realtors you’re likely to run into aren’t a CRS. So what makes working with a CRS so much better?

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Clinical Specialization Meets Bedside Manner
To put the topic of Realtor proficiency in another context, if your 5 year old has a broken arm, do you want a pediatric orthopedic specialist to examine, accurately diagnose, then properly set the youngster’s bone, or would any young intern fresh out of medical school be your first choice?  After all, both are doctors. A similar principal applies to selecting an agent. The surprising thing here is that in choosing your next Realtor, it typically costs the same or less to go with the professional having more experience and proficiency. 

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Similarly, there’s an understandable difference between an agent who just received a real estate license and one who has been diligently working full time in the field for decades. But taking it another step beyond mere experience are those who hold  accreditation for advanced real estate performance. The CRS designation isn’t easy to earn. It involves what is usually a multi-year advanced course regimen, plus documented real estate production and typically years of ‘in the field’ real estate experience. These recognized levels of education, training, production, time-tested experience  and provable success amount to a higher standard of achievement.  

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A Bundle of ‘Keys’ to Your Next Real Estate Transaction
To most homebuyers and homesellers, one key to a Realtor’s stellar real estate performance is consistent performance. Another is experience. Yet one more is education. The advantage to you as a homebuyer or homeseller in working with a CRS Realtor is that you get the entire bundle of keys and reduce your chances of being ‘locked out’ in your next transaction. 

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The Answer:
While the usual term for CRS is Certified Residential Specialist, some might consider agents holding this esteemed real estate degree as being more of a Certified Real Estate Superhero. That’s because it takes a lot to attain the CRS designation and the positive results of working with a CRS designee speak for themself. Some have even compared CRS credentials as akin to the CPA of real estate.

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Portland Native Roy Widing, CRS

What if there was a way you could locate a real estate ‘superhero’ for your next Oregon transaction? Thanks to the CRS referral network, there actually is an easy way to find a ‘super’ Realtor, no matter where you live. Perhaps the simplest is to contact a CRS, like Oregon Real Estate Podcast host, Roy Widing, CRS with Certified Realty. If you’d like to reach a CRS Realtor in a different state or region of the United States, Roy can connect you with a number of qualified Certified Residential Specialists near you and at no charge. From there you can interview one or more CRS Realtors and make your own decisions. 

Do you have real estate questions? Contact Realtor Roy Widing, CRS using the convenient form below.

Garthwick Real Estate’s Magic Number

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Superabundant Real Estate Information Can Seem Like Drinking Water From A Fire Hydrant

TMREI: Too Much Real Estate Information
Sometimes absorbing the sea of Garthwick neighborhood real estate information is more like drinking from a fire hydrant. Yet, out of all the seemingly helpful real estate data bandied about, there is one especially helpful number, which when understood, can provide near-magical clarity to both Garthwick neighborhood homebuyers and homesellers.

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You Needn’t Be a Magician to Understand Garthwick Area Home Inventory

What Is It?
What is this ‘magic’ number and what does it represent? Simply put, it’s the current figure for housing inventory, typically expressed in months of projected home supply.

Listen to the audio podcast presentation of this helpful program on Garthwick real estate by clicking here or on the above link.

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Garthwick Neighborhood Real Estate Inventory is Different Than Bingo

Housing inventory is also sometimes known as home inventory or housing backlog. Why is this number so important? Once you understand the single figure that defines our current supply of local available Oregon homes for sale, you have an instant ‘snapshot’ on whether you’re in a buyer’s market, seller’s market, or more of a balanced real estate market. Armed with that information, you’re far more ready to do battle in the real estate trenches and more likely to avoid some usual minefields. 

‘Normal’ Home Supply
Among real estate experts, a ‘normal’ range for home supply in parts of Oregon is frequently cited as somewhere between three to six months. For example, if the home supply figure is three, then hypothetically our market would be ‘out of homes’ in three months, provided no new homes were placed for sale. In other words, if our regional home inventory figure is within three to six months, we’re typically experiencing a normal market, meaning one not far from a balance of supply and demand, also called equilibrium. In a way, it’s kind of like an absorption rate for how fast supply is used up.

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Your Mileage May Vary
It’s helpful to understand that home inventory figures are more of an average for a region. In Oregon, major real estate regions include Portland, Bend, Eugene, Salem and the Oregon Coast. So if your property is located in Garthwick, you’re likely to use the Portland area figure as the bellwether for housing backlog. If your home is located in Keizer, you’re likely to see the Salem inventory figure as the closest approximation of local home supply. It’s also likely that your specific area could be somewhat different altogether, based on a variety of hyper-local factors affecting both demand and supply. That said, home inventory is a convenient ‘thumbnail’ sketch to help assess what kind of market you’re in.

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What’s The Practical Impact of Housing Inventory?
Consider real estate and inventory like a pipeline. If more flows through it, the product is plentiful and therefore the cheaper it is to buy. So with a lower, dwindling home supply and the spigot turned down, the reverse is true.  When the local real estate environment favors sellers, it’s typically because there are more buyers and it’s considered a ‘seller’s market.’ In that case, expect a short market time and an environment where homesellers receive multiple offers, often at or above listing price. If the supply of homes is higher, it’s considered a ‘buyer’s market.’ This means you can expect a longer market time, with homesellers seeing few, if any offers…and frequently for less than the asking price.  

One advantage to Garthwick homesellers is that like Eastmoreland, Alameda or the West Hills, there is a distinctly low number of available properties in these desirable neighborhoods.

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Negotiation is Expected, But Most Garthwick Homesellers Don’t Like ‘Armwrestling’ With Buyers

It’s routinely a good idea for buyers to get a ‘heads up’ before making an offer to determine how ‘hot’ or ‘cold’ the market is. Otherwise, if you ‘lowball’ a just-listed home in a seller’s market, you may be lucky to even get a counteroffer instead of an outright rejection by sellers experiencing lots of calls and showings on their property. Coming in with an offer that’s too low sometimes causes offended sellers to refuse to seriously consider a possible follow up offer.

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The Number of Competing Garthwick  Area Homes for Sale Affects Market Time

What’s the Big Deal About Housing Inventory?
One reason housing inventory is so important is because it helps buyers and sellers to better manage expectations. Most buyers are interested in how long it may take to find the ‘right’ house. Inventory affects this. Alternatively, most sellers are interested in how long it may take to find a motivated and qualified buyer. Inventory affects this, too.

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Garthwick Homesellers Can ‘Jumpstart’ Activity With Accurate Pricing

That’s because a high home inventory tends to slow down the market time and low inventory frequently provides a ‘jump start’ to activity. One way sellers can help to avoid an excessively long market time is to review comparable local home sales information provided by their Realtor to ensure proper, market pricing.

Another reason housing inventory is crucial is because it can significantly impact so many other important factors. In other words, inventory is a ‘driver’ for market time, selling price, appraisal results, lendability and more.

Okay, So Inventory Is Important. What Does It Look Like?

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Portland Metro Sample Home Inventory

The above image provides a good example of fluctuating home inventory. As Oregon’s real estate market bounced back from the severe market downturn of the Great Recession, the home inventory for some areas reduced from more than 20 months of housing supply to less than three.

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It’s Wise to Consult An Experienced Realtor Before You Leap Into the Market

Contact the Experts
Thinking about selling your Garthwick property? Know the market before diving in! Contact veteran Oregon Realtor Roy Widing with your questions and for a free consultation on what your Garthwick area property could sell for today using the contact form below or call (800) 637-1950.

Portland’s ‘Perfect Storm’

Recent housing data from the Regional Multiple Listing Service (RMLS) shows Portland home prices continue to strengthen.

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This ramp up in home values is due in part to a decrease in available properties for sale. 

PortlandMetroArea-page-001While a ‘normal’ housing market usually has 3 to 6 months of home supply, we’re now at only 1.2 months of inventory…and falling.

A Seller’s Market
With increased demand and dwindling supply, what’s happening in Portland real estate right now could be called a seller’s ‘perfect storm.’ 

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A ‘Perfect Storm’ Is Not The Norm

That’s because we’re witnessing a combination of attractive interest rates and very low home inventory, which continue to fuel a rise in prices.

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A Portland Real Estate Cocktail In One Word: Hot 

Even with growing home prices, current low interest rates help serve up a palatable real estate cocktail that could help buyers to afford their purchase…if they can just find a home. 

The Rest of the Story
As you might guess, individual Portland neighborhoods can vary significantly on selling price, buyer demand and other key factors, like how long it takes for a house to sell.
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Click here or on the above image to see the latest Portland area real estate figures. Make sure to check out page 2 for interesting stats on your nearby town or neighborhood. 

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‘Oregon’s Choice Since 1950’

Thinking about selling your Portland area home? It’s a wise move to sell in a seller’s market. Contact our sponsor, Certified Realty, for a free consultation of what your property could sell for in today’s market by using the convenient form below. 

Website Keeps Garthwick Residents Safer

Few things are as important to Garthwick residents as personal safety. So wouldn’t it be neat if you could type in a local address to determine crime statistics and also find out if a sex offender lives nearby, for free?

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You too can combat crime!

Well believe it or not, there is such a website and it’s called PortlandMaps.com.

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The information you’ll find at PortlandMaps.com is not limited to Portland, but includes much of the greater Portland Metro area.

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Most Garthwick Residents Would Want To Know If Any Of These Jokers Lived Nearby

Along with local crime information, there’s much more that the website PortlandMaps.com offers. This includes maps (of course), plus transportation information, along with environmental reports and utility projects. 

Here’s a list of some information PortlandMaps.com provides within the Portland Metro area:

  • Assessor/Tax Lot Information
  • Aerial Photography
  • Building Footprints
  • Building Permits
  • Census
  • Crime Data
  • Elevation
  • Parks
  • Mass Transit
  • Natural Hazard
  • Schools
  • Urban Growth Boundary
  • Underground Storage Tanks
  • Water/Sewer
  • Zip Code
  • Zoning Maps

Can’t wait to get started? Then click here!

Why Use A Realtor, In 30 Seconds

A very telling article was recently released in a national real estate journal. In just two images, it explains why the vast majority of homesellers work with a Realtor.

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Click on Image to Enlarge

The infographic on the left shows the huge percentage of homesellers who hire a Realtor.

The infographic on the right shows why. Homesellers average a 25% higher selling price with a Realtor.

Thinking about selling your Garthwick property? Don’t leave money on the table. Certified Realty sponsors Garthwick.com and is Oregon’s choice since 1950. Contact Certified Realty for a FREE report on what your Garthwick home could sell for in today’s market using the convenient form below.

Garthwick Real Estate Update

A unique Garthwick property sold recently, with several interesting facts about the home and the transaction.

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Recently sold Garthwick home

First, the sold house on Manchester Place is large, with more than 3,750 square feet of living space. With four bedrooms and three full baths, this is a house that is a considerably bigger than it appears from the street. 

Garthwick
Classsic living room

With a little less than half an acre, the lot size is roomy, too.

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Spacious backyard

The property was on the market this year for the first time in a third of a century. Garthwick homes have a reputation for happy owners and a below-average turnover rate.

Garthwick
Cheery yellow interior

The initial list price for the home was $925,000, later adjusted to $875,000. The final purchase price was just over $805,000.

Garthwick
Updated kitchen

Thinking about selling your Garthwick home? For a FREE report on what your property could sell for in today’s market, contact our sponsor, Certified Realty with the convenient contact form below. Certified Realty has been selling Garthwick area homes since 1950!

 

 

 

Curious About Your Home’s History?

The Oregon Historical Society is holding an upcoming class for those curious about their home’s history.

Your House in History: A Building History Workshop

“Researching Buildings Using Local Archives”

Saturday, March 22, 10:00 a.m. – Noon

$20, $15 for OHS Members

RSVP: libreference@ohs.org or 503.306.5240

Do you want to learn more about the history of your house or building? Are you curious about who lived in your house or what businesses operated in your building?

Learn about the various resources available for uncovering building histories in the Davies Family Research Library at the Oregon Historical Society as well as at other local institutes and online.

The workshop will cover accessing and utilizing the different resources for researching the history of a building, including photographs, city directories, databases and maps.

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