Portland, OR Real Estate Podcast with Stellar Realty NW

Real Estate Predictions for 2017

Info@StellarNW.com (Stellar Realty NW) — Tue, 7 Mar 2017 11:37:00 -0800

Portland is one of the top markets in the country. Will that trend continue in 2017?

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This past year was another great one for the Portland real estate market. Multiple sources have already predicted another hot year in 2017, and we’re excited to bring you some of the latest numbers and predictions that show us where we’re heading.

The National Association of Realtors predicts a 4% increase in home sales, with more than six million sales in Portland. That makes us one of the strongest markets in the nation. Freddie Mac predicts a 4.7% increase in sales, while Zillow predicts a 3.2% increase and CoreLogic predicts a 5% rise.

Our market is a national leader in growth, and the regional MLS reported that the average sale price in 2016 was over $400,000. That’s a record high for Portland, with prices expected to rise even more this year.

Along with Denver and Seattle, Portland is one of the top markets in the country for predicted growth in 2017. Zillow predicts a 7.5% increase in prices and Vero Forecast predicts an 11.1% increase.

"There is a tremendous demand for housing."

Low interest rates strengthened the market even further this past year. They hovered around 3.5% for the most part but slightly increased after the election and toward the end of 2016. The Mortgage Banker’s Association predicts that rates will rise in 2017, but not above 5%. That still puts us in the “historically low” range for interest rates.

Those are the predictions for our 2017 real estate market, but what are some of the factors that influence them?

For one, Portland is one of the top relocation markets in the country. That creates a tremendous demand for housing here. Inventory is already low and with the large influx of homebuyers, demand is at an all-time high. We will continue to remain one of the strongest real estate markets in the nation.

With rates and prices expected to rise this year, now is a good time to buy or sell while demand is high and interest rates are low. If you have any questions for us, don’t hesitate to give us a call or send us an email. We would love to hear from you.

5 Ways to Get Your Home Ready for Sale

Info@StellarNW.com (Stellar Realty NW) — Fri, 20 Jan 2017 09:37:00 -0800

There are five simple things you can do to your home to get it ready for sale.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

Here are five ways you can prepare your home for sale:

1. Clean & declutter. Remove any excess furniture and belongings that are on the countertops or shelving to make the interior space feel more open.

2. Depersonalize. Remove any photos or personal items that are specific to your family and lifestyle so that the new buyers can picture their family in that space.

"The way the home looks from the curb
is what draws buyers inside."

3. Do minor repairs. You don’t necessarily need to retile the bathroom or remodel the kitchen, but you do want to take care of other minor things, like making sure the doors and cabinets open and close correctly, patching up holes and nicks in the walls, or repainting the walls and trimming where needed.

4. Enhance curb appeal. Make sure that the exterior of the home and yard is clean and tidy. One thing that makes a big impact is adding bright and colorful flowers and pots. Remember, it’s the way the home looks from the curb that draws buyers inside.

5. Detach emotionally. Start to think of it as a house rather than your home. You want to visualize the new buyers moving in and yourself moving on to the next stage of your life.

If you have any questions or would like more information regarding this topic, please feel free to give me a call or send me an email. I look forward to helping you in any way I can.

The Advantages of Using a Local Lender

Info@StellarNW.com (Stellar Realty NW) — Mon, 12 Dec 2016 14:39:00 -0800

If you need financing, you should reach out to your Realtor in order to find
a local lender that can provide better service than a larger institution.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

Should you reach out to your Realtor in order to find a local lender? Yes. Real estate agents have access to many local lenders, credit unions, and mortgage companies.

Larger institutions can’t service your financing needs as well as mortgage companies. They usually offer limited products, whereas mortgage companies usually offer 15 products or more. You’ll also face a better chance of pre-approval with a mortgage company because they offer more loan products to choose from and are more flexible with down payments and credit scores.

The advantages of working with a preferred lender are numerous. Our preferred lenders have amazing customer service, they’re great to work with, and they’re always available after hours and on the weekends.

If you have any questions about our preferred lenders or what’s going on in the real estate market, please give me a call or send me an email. I look forward to hearing from you.

How to Pick the Best Offer on Your House

Info@StellarNW.com (Stellar Realty NW) — Tue, 29 Nov 2016 08:41:00 -0800

When you're considering multiple offers on your home, there are many other
variables besides price to consider before making a decision.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

When you’re selling your home and juggling multiple offers, is the highest offer always the best?

Not necessarily. There are a lot of other variables in play, including the terms of the loan, whether or not it’s a cash offer, some contingencies, and the length of the closing. You should consider four things before accepting a buyer’s offer:

Their financing
The length of the closing period
The terms of the loan
Any contingencies

Sometimes cash buyers are better than financed offers; however, cash buyers usually come in lower. A qualified professional can help you select the right offer by recognizing the strengths and weaknesses of each one.

If you have any questions about buying or selling real estate, feel free to give me a call or shoot me an email. I look forward to hearing from you.

A Quick Tour of the Sellwood Neighborhood

Info@StellarNW.com (Stellar Realty NW) — Thu, 17 Nov 2016 11:29:00 -0800

Today we're taking a quick look at the Sellwood neighborhood in Portland, located on the east bank of the Willamette River. It's a walkable neighborhood with tons of great amenities.

Buying a home? Click here to perform a full home search

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Today, we wanted to take you on a quick tour of the lovely Sellwood neighborhood in Portland. Sellwood is located on the east bank of the Willamette River, near the southern end of Ross Island. It's about two miles long and a mile wide.

Sellwood is a teardrop-shaped area that's rich in natural and recreational amenities, including four public parks. Sellwood also boasts a full range of businesses and services, like specialty retail stores, antiques, grocery stores, hardware stores, banks, and dry cleaners to name a few.

It's a very walkable neighborhood for both errands and exercise.

One of the great parks is Sellwood Riverfront Park, which stretches 7.6 acres along the river in Southeast Portland. The park has a boat dock, canoe launch, an off-leash dog area, paths, and riverfront views. It's a popular area for celebrating the Fourth of July thanks to the great views of the downtown fireworks. The park is just south of the famous Oaks Amusement Park and Roller Rink.

Sellwood has a New Seasons Market nestled right in the middle. New Seasons is a locally-owned chain of grocery stores that supplies many locally-sourced items and sells home goods and wellness products as well.

In the video above, you can see a good example of a Sellwood house. This bungalow was built in 1904 and is 1,899 square feet with three bedrooms and one bathroom. This home sold for $500,000 in November 2015.

I hope you enjoyed this look at Sellwood! If you're interested in buying or selling a home in Portland, give me a call or send me an email. I'd love to work with you!

How Does Housing Inventory Affect Your Home’s Value?

Info@StellarNW.com (Stellar Realty NW) — Mon, 7 Nov 2016 08:13:00 -0800

What do you need to know about current housing inventory? Here is a brief rundown.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

Why is housing inventory an important statistic to track on the market? Housing inventory is measured in months of inventory. This is basically how many months it would take for all of the available homes to sell if no new homes were listed on the market. A good housing inventory would be about four to five months of houses on the market. If that number is smaller than four, it means that the home buyers are dominating the market and that there are relatively few sellers. In that market, home sellers have the advantage. A number over five would mean that buyers have the advantage in the market.
How does housing inventory affect your home’s value? While your home’s value is affected by size, location, and condition, a tight real estate market—or one with a lower inventory—will always drive prices up. It’s the law of scarcity. If you’d like to know the current housing inventory in your area or have any other questions related to real estate, please give me a call or send me an email. I’d be happy to help you!

A Tour of the Woodstock Neighborhood

Info@StellarNW.com (Stellar Realty NW) — Mon, 31 Oct 2016 12:33:00 -0700

We recently took a tour of the Woodstock neighborhood, and I wanted to give you a look. This neighborhood has some great shops and restaurants, and plenty of architectural charm.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

Today I'm excited to give you a quick tour of the Woodstock neighborhood in Portland.

This area has some great restaurants, grocery stores, health care facilities, and many kinds of shops, all within walking distance. My person personal favorite is New Seasons, which has a rooftop bar.

The neighborhood has many mid-century homes and some turn of the century homes, as well as new construction. In the video above, you can see a quaint mid-century ranch with two bedrooms and two bathrooms, which sold in March 2016 for just under $400,000.

Thanks for joining me on the tour. If you have any questions about this wonderful neighborhood, give me a call or send me an email. I'd be happy to help you!

How The Appraisal Process Works

Info@StellarNW.com (Stellar Realty NW) — Fri, 14 Oct 2016 14:05:00 -0700

You may know that getting an appraisal is an important part of any home purchase transaction, but do you know how the process works?

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

One of the most crucial aspects of buying or selling a Portland home is the appraisal of the property. Here are some of the key parts of the process:

What is an appraisal? A non-biased third party will physically come to the property and inspect the interior and exterior of the home. The appraiser will then pull comparisons from the neighborhood—typically homes that have sold or are currently pending within a close radius—gather the information, put it into a very thorough report, and come up with a value. Upon finishing the report, the appraiser will then send it to the lender, the lender will contact the buyer, and the buyer will be able to pick the report apart to find out how the value was calculated.

How do appraisals affect the home buyer? The appraisal is performed to protect the buyer from overpaying for the property.

How do appraisals affect the home seller? If the appraisal comes in below the sales price, the borrower will not be able to obtain a loan to purchase the property. If this is the case, either the seller will have to lower their sales price to accommodate the appraised value, or the buyer can come in with a larger down payment to make up the difference.

If you have any other questions about the appraisal process and what to expect during it, or you’re thinking about buying or selling Portland real estate, give me a call or send me an email. I’d be happy to help you!

Explore the Mississippi Ave. Neighborhood in North Portland

Info@StellarNW.com (Stellar Realty NW) — Fri, 16 Sep 2016 15:06:00 -0700

Today we’re touring Mississippi Avenue, a fantastic neighborhood in north Portland that features great restaurants and an eclectic combination of home styles.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

Mississippi Avenue is a north Portland neighborhood that runs just east of the I-5 between Skidmore and Freemont. This neighborhood is a cozy pocket of Portland near the PCC Cascade campus and allows easy access to the interstate and the MAX.

My favorite eatery in Mississippi Ave is Prost! Stop by Prost! for a great German meal with beer and sausage. The best thing to order for lunch is the German Pretzel Sandwich with German potato salad and a Franziskaner beer.

"Mississippi Avenue is a great, cozy pocket of Portland."

Of course, for a true taste of Portland cuisine, you should visit Homegrown Smoker Vegan BBQ. I recommend the Slowsmomofo Sandwich with Mac-No-Cheese. It’s delicious!

For a true Portland recycling experience, hop into the Rebuilding Center. You can find a variety of affordable building materials and things you didn’t even know you needed.

The average home price on Mississippi Avenue is $450,000. This neighborhood features an eclectic combination of home styles including new homes, quaint bungalows, old Portland craftsman homes, and Victorians. In fact, a gorgeous Victorian home that was built in 1896 sold this May for $700,000. The 3,000 square foot home has four bedrooms, two bathrooms, and a carriage house that was converted into an additional dwelling. This is just one innovative way that Portland is answering the call for more housing.

If you have any questions about this neighborhood or other areas in Portland, give us a call or send us an email. We would be happy to help you!

Maintaining Your Heating/Cooling Systems

Info@StellarNW.com (Stellar Realty NW) — Thu, 25 Aug 2016 11:48:00 -0700

With summer nearly over, I’m sure you (like us) have been reminded just how much we use our air conditioning. Soon, in the winter, you’ll be reminded of how often you use the furnace, too.

It’s one of the major systems in your home, and a surprise issue with one of these systems can be a nightmare if handled improperly. That’s why we wanted to share a video from Angie’s List that we recently saw about proper maintenance of your heating and cooling systems.

If either unit is having issues, did you know you can actually hire technicians who are specially trained to work on certain brands? For example, if you have a Trane system, you can find a tech who is trained specifically to work on Trane products.

Secondly, always remember to get a second opinion when someone recommends that you replace a system because oftentimes a repair will do. You want to be certain when it comes to a part of your home that should last 20 years, especially considering the cost of a replacement.

Unfortunately, as the video points out, there are a lot of people out there in that deal in these systems and prey on customers that don’t know any better. If you’re hiring a company, you should investigate them by checking out their web reviews or social media pages.

Also, be proactive with service with on these systems. If you wait until the system is broken down and needs repair to get it checked out, you’re now at their mercy.

As always, for any real estate questions for the Syracuse area, feel free to give me a call or send me an email. I’d be happy to answer them for you!

How to Stand Out When Buying in Portland

Info@StellarNW.com (Stellar Realty NW) — Wed, 25 May 2016 14:14:00 -0700

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation
Call me at (503) 427-9233 for a FREE home buying or selling consultation

How can you stand out as a buyer in the competitive Portland real estate market? There are a few ways to achieve this.

Pre-approval from your lender and a competitive offer. A pre-approval shows you are qualified for a mortgage and are financially able to buy their home. These days, sellers won’t take an offer seriously without a pre-approval letter, especially in competitive markets like Portland. Don’t even consider making a lowball offer. Sellers have a slight edge in this market, so if you want your offer to stand out, you need to show that you’re serious.

Quick timelines on inspections and appraisals. Sometimes, a competitive offer price isn’t even enough. To many sellers, favorable time lines like those on inspections, appraisals, and closing carry more value than a few thousands dollars. The buyer’s agent should reach out to the listing agent to find out the seller’s goals and if they want to close quickly or if they want to close after their children are done with the school year.

"Find an agent that you can trust."

Trust for your agent. Your agent is a real estate professional who works full-time studying the market in order to get you the best deal. They’re also expert negotiators who can get you the best deal on a home and find ways to make your offer more attractive to a home seller.

We can help with all of these factors. If you have any questions, don't hesitate to reach out.

See All That Wonderful Dunthorpe Has to Offer

Info@StellarNW.com (Stellar Realty NW) — Thu, 5 May 2016 17:53:00 -0700

Located just minutes south of downtown and right next to Lewis And Clark College, this safe community offers the best of both worlds with huge estates and an amazing school system. The Riverdale school district in Dunthorpe has the high school and the elementary school with 18 students per classroom and an average of $14,000 spent on each student.

I’m joined by Andre, who just moved to Dunthorpe from Pasadena, California, to talk about Dunthorpe and his favorite parts of living here.

“The location allows us to be almost in a country-like environment right here in Dunthorpe, and yet we are 10 minutes away from Lake Oswego, we are 15 minutes away from downtown, we have access to the Five Freeway very easily, and we have a number of ways that we can go downtown,” Andre said. “The access from this position is outstanding.”

Andre has already found several favorite restaurants here in “The City of Restaurants,” as he says, including Tucci and A Cena for Italian and Tavern on Kruse for a modern option, and of course a number of restaurants he frequents downtown both on the East Side and West Side.

Lewis and Clark offers a wonderful library, lectures, and music, all of which Andre plans to take advantage of, living just walking distance from the college.

I also want to show you this beautiful custom home built in 2007 between the Willamette River and Highway 43 on Riverwood road, in one of the most exclusive parts of Dunthorpe. It recently sold in 2015 for just under $1.6 million.

Take a look at Elk Rock Gardens, one of my favorite spaces in all of Dunthorpe. Elk Rock Gardens boasts about six acres of English gardens designed by an amazing firm in New York City that also designed Central Park. It’s a great place for a picnic where you can sit knowing you can be here seven days a week.

Thanks so much for joining me in our tour through the beautiful Dunthorpe neighborhood. Please feel free to reach out to me with any questions. I look forward to hearing from you!

What Are Our Favorite Places in Milwaukie?

Info@StellarNW.com (Stellar Realty NW) — Wed, 17 Feb 2016 12:09:00 -0800

Today we are excited to give you a tour of one of our favorite areas in Portland, Milwaukie. Milwaukie offers a small-town charm, but is just a few minutes away from downtown. It was recently voted one of the top 50 places in the country to raise a family. Milwaukie is close to the river, and there are over 100 parks in the area, offering great hiking, backpacking, and cycling options. Today we are going to highlight some of the great things about Milwaukie, from the food to the real estate. Let’s get started.

Bob’s Red Mill Natural Foods was started by local resident Bob Moore, who founded the company in 1978. Today, they produce over 400 different products and are known as the leaders for grain production in the United States.

Another great local spot is Wine:30 wine bar. It’s a great, cozy neighborhood bar, with an open-air atmosphere and complete with comfy furniture. They have a great patio area, which is built on top of a few parking spots in the street. They offer local music throughout the week and a daily happy hour from 4-6 p.m.

Milwaukie is also home to one of the largest farmers’ markets in Portland. You’ll find over 75 local vendors with organic meats, produce, baked goods, garden crafts, and more. There are also local artists there every Sunday.

Milwaukie’s Riverfront Park is an 8.5 acre park spanning along the Willamette River. It was recently renovated to include a new boat launch, parking, restrooms, a public lawn, and a riverside path.

The orange light rail system connects Milwaukie to the city of Portland and travels across the Tilikum Crossing Bridge, which you usually don’t get to go through in a car.

If you have any questions for us about this area, or anything else real estate related, we would love to hear from you. Give us a call or send us an email today!

West Linn Neighborhood Tour

Info@StellarNW.com (Stellar Realty NW) — Wed, 10 Feb 2016 12:58:00 -0800

West Linn is located in Clackamas County and it’s where I was born and raised. There are some lovely old homes in this rustic area, and if you’ve never been in the area, I recommend you come and take a look.

Holloran Winery and Oswego Hills Vineyard are popular spots for locals. McMenamins is where I’m shooting this video, and this restaurant was the first brew house in West Linn. Their Sunflower IPA is their signature beer, and this is because their beer garden is lined with sunflowers.

If you come here, you need to see the Williamette Falls. There is an intricate lock system built by the pioneers that settled here, and these falls are the 17th widest in the United States!

West Linn was established back in 1913, and in 2011 CNN and Money Magazine ranked West Linn as the 69th best place to live in America. We were also voted as the top place to live in Oregon!

We are also named ‘Tree City USA’ by the Arbor Day foundation for our commitment to urban forestry. Developers like to come to West Linn and renovate old homes into new and beautiful ones. We are actually doing this right now and will be selling 3,000 sq. ft. homes for about $575,000.

If you want to find out more about West Linn, please don’t hesitate to contact me!

How We Helped Monty Find a Home on a Budget

Info@StellarNW.com (Stellar Realty NW) — Wed, 2 Dec 2015 10:36:00 -0800

"I was very happy. I worked with Caralee, and she worked hard to stick to my rigid budget. She got me in the house I wanted and stayed within my price range. She even stayed with me late at night putting in a counter offer on my home, when she didn't have to. She did a great job!"
-Monty Foust, Home Buyer

Portland Real Estate Classes for Buyers and Sellers

Info@StellarNW.com (Stellar Realty NW) — Mon, 9 Nov 2015 11:27:00 -0800

I'm extremely excited to announce that the Oregon Association of Realtors has picked me to be an instructor for real estate classes aimed at educating consumers. I was one of twelve agents chosen out of the entire state of Oregon, so I'm very humbled and honored to have this opportunity.

I've worked out a deal with Stellar Realty's owner, Paul Campbell, and he's also agreed to teach one class per month. I will also teach one class per month, and these two classes will be aimed at first-time home buyers, and then the other portion will be aimed at investing in real estate.

If you're interested in learning more about these classes, please don't hesitate to contact us or resister here! You won't want to miss out on any of this information!

Portland Neighborhood Spotlight: John's Landing

Info@StellarNW.com (Stellar Realty NW) — Thu, 22 Oct 2015 08:36:00 -0700

Today, I want to give you a behind the scenes look at one of Portland's most established neighborhoods: John's Landing.

John's Landing used to be known as Fulton and is positioned east of the I-5 between the Tualatin and Willamette rivers. It follows the Willamette River for three miles, stretching north to South Waterfront and south to the Sellwood Bridge. John's Landing is home to both commercial and residential properties, including our very own Stellar Realty office!

Just across the street is Jolly Roger, a great pit stop whether you're looking for food or something to drink; we really like to do Thursday night trivia! Down the street you'll find the amazing Zen Salon; I recommend Melissa - she's great for girls and guys alike!

There is a great variety a homes in the John's Landing neighborhood. Properties range from gorgeous old foursquares to bungalows and condos! Seeing these great old homes is a great reminder of the home maintenance we should all be doing in our current homes: cleaning your furnace filter; inspecting your tub and sink drains; cleaning your carpets and windows; checking the batteries in your smoke detectors; and inspecting your roofing, among other things. For a complete list, check out the Better Homes and Gardens Maintenance Checklist!

A great restaurant in the area is Fulton Pub & Brewery, one of the infamous McMenamins restaurants. The story behind this pub is quite interesting. Although the McMenamins didn't open this pub until 1988, legend has it that the pub dates back to 1926, before it was a prohibition era hangout that served home cooked meals and offered pinball games, candy, and ice cream. To learn more about McMenamins and the passport program they have, click here.

One of the best parts about John's Landing is Willamette Park. There's plenty of room to play for the kids and plenty of room for adults as well. Across the river is the Oregon Yacht Club, to the south is the Sellwood Bridge, and to the North is the downtown area. It's a great place for recreation of all kinds, but especially boating!

If you have any questions about John's Landing, or if you want to search for homes in the neighborhood, visit Caralee.PortlandPropertyFinders.com. I would love to hear from you!

How We Helped Kathy Through the Buying and Selling Process

Info@StellarNW.com (Stellar Realty NW) — Thu, 8 Oct 2015 10:38:00 -0700

"We purchased a home and sold a home with Stellar Realty. I worked with Caralee Angell, and she is just amazing! We bought our new home, moved, and sold our previous home. In buying our new home, we knew what we were trying to find, but Caralee really listened to our unspoken needs. She could tell when we were in love with a house and when we weren't. We almost talked ourselves into buying a house that we wouldn't of been as great as the one we eventually found. We ended up spending less money for a better house, in a better location, because Caralee really listened to us. She was always in our corner and acted as an advocate for us! In selling our previous home, Caralee provided great advise for what we should and shouldn't fix before selling. In fact, there was one repair that needed to be done in our garage, and Caralee's dad actually came over to fix it! She gave us great advice on how to price our home and it sold in no time!"
-Kathy Stevens, Home Seller and Buyer

Check Out the Mount Tabor Neighborhood

Info@StellarNW.com (Stellar Realty NW) — Fri, 25 Sep 2015 09:03:00 -0700

Today, I'm going to give you a tour of one of my favorite neighborhoods in Portland - the Mount Tabor Neighborhood! This great location is nestled in Southeast Portland, an ideal location close to downtown, freeways, parks and other venues.

Our first stop is Mount Tabor Park. This park is actually on top of an inactive volcano. The park offers miles of hiking trails that cover 196 acres. These trails are great for biking or hiking. There are tennis courts, picnic areas, and a playground. There is something for everyone at Mount Tabor. Stop by for a beautiful view of the downtown skyline, and the best sunset you've ever seen.

Tilikum Crossing Bridge is the only bridge in Portland reserved for cyclists, pedestrians, and the MAX light rail. This is my favorite way to get to Mount Tabor from downtown Portland! It only takes 10 to 15 minutes to go from downtown Portland to the Mount Tabor neighborhood, and there are many great public transportation options for you, such as the bus line.

Mount Tabor also offers a variety of locally owned businesses. There are great bars, restaurants, bookstores, and pubs! Hawthorne Boulevard is one of the most well-known streets in this neighborhood. Cup and Saucer is one of my favorite breakfast places. You must try their homemade scones!

Albina Press Coffee Shop is just west of Mount Tabor Park. Portlanders are very serious about their coffee, and Albina does it right. They also serve Stumptown coffee, a local coffee that is very popular. Albina provides a cozy atmosphere.

On the Portland food scene, food carts are our claim to fame. There are pods of food carts all over town, such as this one, Good Food Here, located at the base of Mount Tabor. This pod definitely lives up to its name. There is a huge variety of food: Korean, tacos, seafood, vegan, vegetarian, and more! Good Food Here offers a heated, outdoor eating tent. It's a great place to check out if you want to try a few different things, or if you don't have time to prepare a meal at home.

Tabor Tavern is located right in the heart of the neighborhood. The food is amazing, and there are rotating taps of beer, cider, and local wines available as well. I recommend their Caesar salad. Happy hour is from 3:00 to 5:30, so be sure to stop by!

Overall, the Mount Tabor neighborhood is a great place to live. In addition to the parks and restaurants, Mount Tabor offers a wide diversity of homes. If you have any questions, give me a call or send me an email. I look forward to hearing from you!

How Will Changing FHA Guidelines Affect You?

Info@StellarNW.com (Stellar Realty NW) — Fri, 28 Aug 2015 09:21:00 -0700

Today, Shelby Spencer of Primary Residential Mortgage joins us to discuss some of the changes to FHA Guidelines starting September 14.

The biggest change to look out for is with student loans, which can no longer be removed from the debt ratio if they are deferred. This means that all contracts or offers written after September 14 will be affected by these changes. Another change comes to large deposits; we used to only need to source large deposits of around 2% of the sales price, but deposits of 1% or more now need to be documented. In addition to these changes, know that funds can no longer be used as assets; you can't create a stronger profile with gift funds, although they can be used as a down payment.

With the inventory as tight as it is; there is a good chance some of the pre-approved FHA buyers may find themselves losing their previously issued pre-approved status before they get an accepted offer. The new FHA guidelines take effect with FHA case numbers assigned on or after 9/14/15. (Case numbers can only be assigned when a property has been identified.)

The following bullet points are just a few of the areas that could affect buyers. I recommend that all FHA pre-approved buyers contact their loan officer to review their situation against the new guidelines. Here are some of the areas that are affected (I will cover them in more detail soon):

Federal Tax Liens
Mixed Use Property
Bankruptcy less than 2 years
Occupant borrower has no credit score
Self-employed borrower's income is greater than 20% declining from the previous year
Installment debts with less than 10 months remaining
Deferred loan payments (student loans)
30-day credit accounts
More than 3 jobs and/or profession changes in the last 12 months
2- to 4-unit properties
Retaining current home as a rental
Nontaxable income (like social security income)
Earnest money deposits greater than 1% of sales price
Using gifted funds for any reserve requirements

As long as everyone is aware of these changes up front, closing times shouldn't be too affected. Of course, the best way to prepare yourself for these changes is to reach out to a professional and begin the process sooner than later. You can reach Shelby at SSpencer@Primeres.com or (503) 572-8865. Of course, if you have questions or concerns on the real estate side of things, don't hesitate to reach out to us. We would love to hear from you!

The Top 10 Renovations that Are Sure to Save You Money

Info@StellarNW.com (Stellar Realty NW) — Mon, 10 Aug 2015 08:26:00 -0700

Today I'd like to share an interesting video I found on HGTV. It documents the ten best renovations that you can make on your home that won't cause you to go broke! Renovations can get expensive, but here are some ideas to help you get more bang for your buck.

10. Using subway tiles is an inexpensive way to redo your kitchen and add a retro feel to it.

9. Speaking of a retro feel, using vintage furniture and fixtures can look and feel great on your wallet.

8. You can create an 'art wall' by collecting used wood. This hand-crafted, old-school look is sure to impress your guests.

7. Instead of ripping out your hardwood floors entirely, just replace the ones that cannot be used anymore. Lacing new boards in with old ones has an eye-catching look.

6. Changing the knobs on your cabinets and doors can create a whole different feel in a kitchen.

5. Instead of updating your entire bathroom, just refinish your tub. It makes everything else look new again.

4. Painting your home by yourself can be a huge money-saver.

3. Hiring a good Realtor can save you money as well. They know how to negotiate deals and get you the best price on a home that you're buying or selling. Talk to me about this!

2. Waterproofing your roof can save you tons and tons of money down the road. Being proactive about major structural issues in your home is always a good idea.

1. The last couple saved nearly $20,000 renovating their home because they knew a good mill-worker. While I can't promise that you'll save that much, I do know good contractors that can offer you discounts on their services!

So, there you have it. Ten easy ways to save money while renovating your home. While these are all great ideas, I'd prefer if you spoke with me before you went about ripping up your house.

Not all renovations are necessary if you're trying to get top dollar before a sale. Often times the most expensive renovations will not make you the most money back - if you get any money back at all.

Please don't hesitate to reach out to me if you have any questions about this video, or if you have any Portland real estate needs!

What's Happening in Lake Oswego?

Info@StellarNW.com (Stellar Realty NW) — Mon, 8 Jun 2015 14:27:00 -0700

Today we're in Lake Oswego, a charming town just south of Portland, and one of our favorite destinations when we just want to get away for a while.

We're in the Millennium Plaza Park of Lake Oswego, where there is fine dining, movies, music, and much more. It's a wonderful little area for anyone and everyone looking to relax for a bit. Maybe if you're lucky your parents will take you to Salt & Straw for a gourmet ice cream cone.

One of the great parts about this area is the school system. Both high schools in Lake Oswego were in the top 15 in Oregon, and this is just one of many reasons why people are choosing to move here.

Our favorite neighborhood in Lake Oswego is called First Addition, and it was established in 1888, making it the oldest neighborhood in the town, and also the most desirable.

If you're interested in properties in this town, please don't hesitate to ask us about them. There is a lot of buzz surrounding this community right now, so don't miss your chance to invest before it's too late.

To find a home in Lake Oswego, visit http://bit.do/LakeOswegoHomes.

What's Happening in the Portland Real Estate Market?

Info@StellarNW.com (Stellar Realty NW) — Fri, 15 May 2015 08:15:00 -0700

It's spring already, and the Portland real estate market is off to a hot start. We only have three months of inventory, and that is down from last month. We're seeing multiple offers and people are scrambling to win offers on good homes.

Despite some arguments that Portland is caught in a seller's market, it's actually a pretty great time to buy a home. Interest rates are around 4%, and affordability is sky-high right now. Nobody is certain when interest rates will rise again, but just a 1% increase in rates could cost you thousands of dollars. For example, just a 1% increase in the mortgage interest rates on a $400,000 home could cost you an extra $85,000 over the life of the loan!

Although this is a tough market for buyers, now is an excellent time to buy a home. Your dollar will push you further than it ever has before. With this being said, it's also a good time to sell your home and move up into a nicer one.

For more information, click here to check out the fantastic article in the Portland Monthly for April 2015.

If you have any other questions about the Portland real estate market, please don't hesitate to contact us!

How Can You Make the Most of the Portland Market?

Info@StellarNW.com (Stellar Realty NW) — Thu, 26 Feb 2015 08:40:00 -0800

There are many great Portland area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home,click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (503) 427-9233 for a FREE home buying or selling consultation to answer any of your real estate questions.
Today, Stellar Realty's principal broker is here to give us an update on the Portland market!

Right now, the market is great! We're very lucky here in Portland, as we're on a list of the 13 best places to move to! Last year, Portland and the surrounding areas gained about 7% in the real estate market, and prices are predicted to continue rising for at least the next three years. During their current ascent, average home sales have risen from $311,000 to $333,000.

Another thing we've noticed is that inventory has been quite low, it's currently only at 3.5 months! Homes that are priced well and in great condition are being snatched up incredibly fast, which has been very frustrating for some of the buyers we're working with. Despite the difficult conditions, buyers are still trying to submit lowball offers, and while that worked four or five years ago, no one is having much luck with conditions the way they are. Homes are disappearing before we have time to look at them and write a proper offer.

Sellers currently have the upper hand. The most important thing for them to decide is whether they want to get top dollar for their home by making some repairs or put it on the market right away and see what they can get for it. Either way, you should be able to get buyers to pay a fair price for your home. You need to ask yourself where you're looking to go after the move - do you want to upgrade or downsize? Here at Stellar, we have the experience and expertise to help you make your decision an informed one!

If you have any questions about the Portland area market, or if you would like our assistance in any way, please don't hesitate to give us a call or shoot us a quick email. We would love to hear from you!

Is the Winter a Good Time to Sell a Home?

Info@StellarNW.com (Stellar Realty NW) — Wed, 5 Nov 2014 06:49:00 -0800

There are many great Portland area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (503) 427-9233 for a FREE home buying or selling consultation to answer any of your real estate questions.

Is the Winter a Good Time to Sell a Home?

Today we are here to answer the question to whether or not you should still continue to list your house during the winter season. We actually think it is a great idea to list your home during the winter season, although conventional wisdom might tell you otherwise.

The big advantage to selling in the winter is that buyers are more serious at this time of year. Let's be honest, if you are looking for a home in the cold winter weather during the holidays, you are going to be serious about buying a home. In our experience, buyers are definitely more serious during this time of year.

If you have any questions for us at all, give us a call or send us an email. See you next time!