4023 SE Long St – Portland

This slideshow requires JavaScript.

What a fantastic new listing!

After looking at so many older homes recently, it’s nice to see a newer house with charm and modern amenities. Not to mention, an awesome floor plan that has excellent flow. There is something so practical about having all the bedrooms, the laundry room and two full bathrooms on one level. Check out all the other features below!

* Asking Price $385,000
* 3 Bedrooms, 2.5 Bathrooms
* 1956 Flowin Square Feet
* Built in 2007
* 1-Car Attached Garage – extra deep for storage!
* Built-in Vacuum for convenience and air quality
* Air Conditioning
* Forced Air/ Gas Heat
* Brazilian Cherry Hardwood Floors
* Gas Fireplace
* Master suite has vaulted ceilings, a full bathroom and a walk-in closet
* Gorgeous, gourmet kitchen with an eat bar, eat area, granite counters and stainless appliances
* Formal dining room with wainscoting
* Cozy living room with a gas fireplace
* And just in time for summer – a spacious, fenced backyard with a stamped concrete patio, covered deck area and a small dog run
* Close to Woodstock shops and restaurants, Reed College, public transportation and Trader Joes
* MLS ID 12551565

Finding Portland…

How sweet it is to live in such an incredible city! Thanks to Uncage the Soul for producing this wonderful video.

<p><a href=”http://vimeo.com/41011190″>Finding Portland</a> from <a href=”http://vimeo.com/uncagethesoul”>Uncage the Soul Productions</a> on <a href=”http://vimeo.com”>Vimeo</a>.</p>

Local Market Update

Local Market Update.

Portland Metro Numbers:

The Average sales price for February of 2012 rose 4.3% compared to February of 2011. Month to month, comparing January 2012 to February 2012, the average sales price went up from $249,100 to $255,100 (2.4%) and the median sales price rose from $207,500 to $211,000 (1.7%).

Comparing January-February 2012 with the same period in 2011 shows closed sales increased 17.9%. Pending sales were up 26.3%, and new listings decreased by 15%. That’s right, inventory is still down. I currently have active buyers in various price ranges and my biggest hurdle is a lack of listings. So much so that new listings in Portland’s inner city, historic neighborhoods are once again seeing multiple offers. However, listings that are overpriced tend to get overlooked and chase the market down. Strategic pricing is crucial.

With prices creeping up and inventory down, supply and demand is in full swing. I suspect this will be a busy spring/summer market.

Piedmont Fixer – $179,000

Location, charm and value!

624 N Holland St, Portland OR 97217
ML# 12286781
$179,000
2285 Sq Ft
Built in 1921 – 1 owner
2 Bedrooms
1 Bathroom
Bonus Room
Sun Porch
Fenced Backyard
Detached Garage / Carport
Forced Air/ Electric heat
Asbestos Siding
Woodlawn elementary
Roosevelt High School
Property Taxes: $2,171

This slideshow requires JavaScript.

Listing Shortage!

In my opinion, real estate statistics that include the entire Portland Metro area can be a little misleading. Keep in mind that these numbers encompass Beaverton, Aloha, Gresham and Hillsboro, just to name a few. If you’re really curious about market stats in your neighborhood, it will take a more thorough evaluation and market analysis to get accurate figures.

For the year, the average sales price for the entire Portland Metro area has dropped 6.7% and the median sales price declined 7.9%. These figures don’t weed out bank owned or short sale listings. However, distressed homes sell for a lot less than homes sold by conventional sellers. Buyers see the difference between a home that has been lovingly cared for versus one that has been abandoned due to financial duress. This glut of distressed property is contributing to our sluggish price rebound.

Inventory has dropped dramatically in the last few years. New residential listings are down 11.7% year-to-date. Where we really feel this statistic is in Portland’s trendy, historic, inner-city neighborhoods. Especially, in the $250,000 – $450,000 range. The neighborhoods that are highly walkable, close to public transportation, freeway access and urban amenities have always been in high demand. And those are some of the areas experiencing a drastic decline in inventory. Buyers are lined up and ready to pounce. They just need listings!

Anyone who thinks that now is a poor time to list your house, please call me. We have lots to discuss!

REMINDER: Home Loans Available for Buyers with Under 20% Down Payment

Ø    USDA Rural Home Loan program:  This program for low- and very low-income households, provides financing for the purchase of eligible properties in rural areas. No down payment loans are available.

Ø    Veteran’s Administration (VA) Home Loans:  eligible veterans can obtain financing with no down payment.  These loans also have more lenient credit standards for individuals who have have had credit challenges in the past.

Ø    Federal Home Administration (FHA) Home Loans:  These loans became the most common source of financing for individuals with smaller down payments. The minimum down payment for FHA eligibility is 3.5% of the purchase price of the property.

Ø    Conventional financing with Private Mortgage Insurance: Private Mortgage insurance companies have returned to the market in competitive fashion and now provide the required mortgage insurance for borrowers with as little as 3% down. Borrowers must have an above average credit history.

As always, let me know if you have any questions. I’m happy to help!

Chelsea Ausland
Certified EcoBroker
Earth Advantage Broker
Portland Monthly 5-Star Agent
Metro West Realty
Cell: 503-548-7973
Fax: 503-692-0592
www.AuslandHomes.com

** Source: Portland Metro Multiple Listing Service, Dec 2011 reporting period. Mark McGinnis w/ Mortgage Trust.

What NOT to do when applying for a home loan!

Thanks to Michael Hammel with Guild Mortgage for the following pointers!

8 things you should NEVER do when applying for a home loan! 

This is a list of things to steer clear of when you are seeking to obtain financing for a home. The following items may prove to be a detriment when you wish to move forward with the loan process. Here we go!

1.     Don’t stop making your mortgage, rent, auto or any other payments!
Some clients believe once your home is listed, or a refinance has been started, no more payments are required! Wrong! If you have a late payment, even on a silly $10.00 monthly credit card it could mean the difference between YES and NO on your loan. Late payments on a Mortgage or Rent can mean a Decline on a home loan for 12 to 24 months!

2.     Don’t buy or lease an auto!
Lenders look carefully at your monthly debt obligations. A large payment such as a car lease or purchase can greatly impact those ratios and prevent you from qualifying for a home loan. I once approved someone, the loan was all done and the day of closing she showed up in a new $45,000 Truck on a 48 month loan. The new truck payment exceeded what her new house payment would have been! She ended up “driving” her new house.

3.     Don’t move assets from one bank account to another!
These transfers show up as new deposits and complicate the application process, as you must then disclose and document the source of funds for each new account. The lender can verify each account as it currently exists. You can consolidate your accounts later if you need to. If you are getting funds from a gift, PLEASE notify us immediately! The transfer of the funds has to be done and documented a certain way to be used towards down payment and costs.

4.     Don’t change jobs if you can help it!
A new job may involve a probation period, which must be satisfied before income from the new job can be considered for qualifying purposes. If your job is Part time or Temporary, PLEASE let us know right away as it affects your approval!

5.     Don’t buy new furniture or major appliances for your “new home!”
If the new purchases increase the amount of debt you are responsible for on a monthly basis, there is the possibility this may disqualify you from getting the loan, or cut down on the available funds you need to meet closing costs. New furniture, refrigerator or bed does you zero good if the house you bought it for is no longer yours.

6.     Don’t run a Credit report on yourself or have anyone pull your credit!
This will show as an inquiry on your lender’s credit report and could lower your Credit score 7-10 points per credit pull! If you are approved for a “score driven” loan (one that requires a certain score to qualify) you may have just lost your approval. Loans that do not have score requirements need inquiries explained in writing and/or documented.

7.      Don’t attempt to consolidate bills before speaking with your lender!
Moving around Credit balances can destroy your credit score! Ask first before you change any balances around.

8.     Don’t pack or ship information needed for the loan application!
Important paperwork such as W-2 forms, divorce decrees, and tax returns should not be sent with your household goods. Duplicate copies take weeks to obtain, and could stall the closing date on your transaction.

Christmas House in Grant Park!

This slideshow requires JavaScript.

After months of looking and less than a week till Christmas, we finally found my clients the perfect home! I sold their adorable bungalow in the Piedmont neighborhood last summer. Since then, they’ve been renting in Alameda and absolutely love that part of Portland. We’ve been actively hunting for houses in various neighborhoods around town with the best schools, but good listings have been few and far between. Wanting the historical charm of an old neighborhood and the modern amenities and functional layout of a new home was proving very hard to find. Thankfully, there are still a select few builders that are buying and restoring homes in Portland’s close-in neighborhoods. Reilly Signature Homes restored the home they are purchasing on 3572 NE Morris St. Reilly Signature Homes has been building and restoring homes for the past 25 years. Their style, craftsmanship, attention to detail and eco-minded upgrades puts a buyer’s mind at ease. From the moment we first walked through the front door, everything felt right. My clients were in love with the layout, quality, spacious and open kitchen, large closets, period fixtures, finished basement and brand new everything! It was home!!! And just in time for Christmas!

Neighborhood Info -
Grant Park is located in NE Portland. It is bordered by the Sullivan’s Gulch, Irvington, Alameda, Beaumont-Wilshire, Rose City Park and Hollywood neighborhoods. The Grant Park community has a family-friendly feel, with quiet, residential streets lined with old Portland style homes.  The gem of the neighborhood is Grant Park, with large mature trees, and a nice playground, as well as a dog park area.  Grant Park adjoins Grant High School. Grant Park is conveniently located near coffee shops, restaurants, and shopping in popular commercial areas lining Broadway, and along Fremont St. This neighborhood boasts gorgeous homes, good schools, public transportation, easy access to downtown Portland and walkability to many urban amenities.

Listing Details
3572 NE Morris St. Portland, OR 97212
ML# 11520629
List Price $649,000
Reilly Signature Homes complete re-creation
2702 Sq Ft
4 Bedrooms
3 ½ Bathrooms
Finished Basement
Gourmet Kitchen w/ Granite Island and Stainless Appliances
Gleaming Hardwood Floors
Wood Burning Fireplace
Custom Tiled Baths
Custom Lighting
Energy Efficient, New Mechanical Systems
Insulated Windows
Period, Custom Details
Zonal Heating
Schools: Beverly Cleary, Grant

Listing courtesy of
Susie Hunt Moran
Principal Broker
Windermere Real Estate

2011 Kibble Drive for the Humane Society

This slideshow requires JavaScript.

This year’s mini kibble drive for the Humane Society was such a success that I plan on making it a Christmas tradition!

Thank you to all my friends, family and clients that donated bags of dog food to the Humane Society!

HAPPY HOLIDAYS!

 

The not so cookie cutter house…

This slideshow requires JavaScript.

Listing Address: 22213 SW 107th Ave, Tualatin, OR 97062

As I drove into the Brookwood Park neighborhood, only a few blocks from Ibach Park, my brain was automatically conjuring up images of The Stepford Wives. The newer developments in Tualatin are so perfectly manicured… and some homes have become, well, predictable to say the least. Builders have built the same floor plan time and time again. So it is a pleasure to introduce my new listing, where thinking outside the box and having an impressive eye for design have set this house apart! 22213 SW 107th boasts absolutely stunning mill work, 5 star interior design, custom details and fixtures, light pouring in from every angle, an open and spacious layout with a European style “eat in” kitchen. Honestly, this home is anything but cookie cutter!

The warmth of the home comes from the use of custom features like wainscoting and cherry hardwoods throughout the main level. Natural light pours in from all angles. Beginning when you enter the home, the ceiling opens to the upper level where there’s a wide hallway that receives even more light from the open staircase. A study with French doors, a stunning master suite, two large bedrooms, a full bathroom and a laundry room with tons of storage complete the upper level.

What impressed me the most about this house was the unique, spacious, open and functional kitchen design. The kitchen is designed around the social chef. The main eating area is centered in the middle of the kitchen, which makes entertaining and family dining a social experience. Practicality aside, this kitchen is stunning! Italian marble countertops, Bertazzoni 6-burner gas range, stainless appliances, wine cooler, farm-style sink, bar sink, custom Pottery Barn lighting, craftsman style fixtures and so much more! For fancier occasions, there is still a formal dining room connected and open to the kitchen.

All of these elements combine to make this house a timeless beauty. Call me to schedule a private showing!

LISTING DETAILS:
ML # 11286277
2867 sq ft
4 Bedrooms
2. 5 Bathrooms
2 Car Attached Garage
Built in 2010
Forced Air/ Gas Heat
95% Efficient Furnace
AC Ready
Built-in Vacuum System
Wired for Sound System
Gas Fireplace
Custom Mill Work
Cherry Hardwoods

SCHOOLS:
Byrom Elementary
Hazelbrook Middle School
Tualatin High School

EXTERIOR DETAILS:
Sprinkler System
Built-in Play Structure
Stamped concrete patios
Pergola
Flagstone Patio
Raised Garden Beds
Wrought Iron Gate
BBQ Gas Hook-up

Think LOCAL!

The 2011 real estate market is a strange place indeed. National news is misleading as real estate is locally driven. If you are looking for a well taken care of home in a close-in Portland neighborhood, listings are sparse.

In my opinion, the market is in the process of adjusting. We are a supply and demand driven industry. When supply goes down, demand goes up.  For example, based on current, local statistics, closed sales grew 13.4% in September 2011 compared to September 2010. Pending sales were also up 17.5%, and new listings dropped 29.5% (info obtained through RMLS). However, historically, as home prices increase due to demand, more people are inclined to sell, which improves the market. What does this mean for the Portland market? Signs point to an upswing!

So when I showed my buyers this beautiful gem in the historic Overlook neighborhood (pictures below), they were thrilled. Great price, great location and wonderfully cared for over the years. They found the right house because they were patient and had a thorough understanding of the market in this particular neighborhood. This knowledge prepared them to jump when the house was right! And with a strong offer in a multiple offer situation, my buyers prevailed. It’s a great feeling going into an offer situation feeling well informed.

With interest rates so low, it’s still an excellent time to buy a new house. Just make sure you stay informed on all the specifics surrounding the market in which you want to buy.

This slideshow requires JavaScript.

Special thanks to Noel Jackson with the Hasson Company! Fantastic listing Noel!