Author Archives: Mike

July Portland Real Estate Market Action Report

  Here’s the new Portland Metro Real Estate Report. It’s really more of the same. About 2,000 less active listings while we actually listed about 300 more than last year at this time.  It’s a Seller’s Market indeed. But, as I’ve been saying, typically prices top out in July and that is showing in the chart.  It seems likely prices could drop some more as Summer ends which is good for buyer’s. Seller’s in good areas with good homes that have been staged right will Continue reading →

July 2015 Portland Market Action Report

This has been a rare year so far.  Inventory has shrunk for four straight months and it might continue for a couple more months.  As you see in the chart below, we actually have a normal amount of homes hitting the market, but the buyer’s are grabbing them faster than donuts on a breakroom table on a Friday. This might be actually be the best time to list your home.  New listings typically ease off around this time of year but we see that sales Continue reading →

The June Shift Has Happened Again

If you’ve talked to me lately, you’ve heard me say that for the last few years prices have topped out in July.  In February or March we notice the market speeding up and get a lot of multiple offer situations, especially in good neighborhoods. Well, the shift has happened. I wondered if we had enough momentum to carry us deeper into the Summer but it doesn’t look like it.  I saw a thread of local Realtors talking about how they noticed the shift. It means Continue reading →

What does Days On Market really mean? Here’s The Truth

It means almost nothing, especially on a large scale.  In real estate we try to find numbers that normalize the ups and downs of activity.  Similarly, the inventory number is a theoretical number that says, if sales continue at this pace and no new homes were added to the market, this is how many months it would take to deplete the inventory.  That situation would never happen but it is a number to look at to show trends but it’s not perfect. Just like Days Continue reading →

June 2015 Portland Metro Real Estate Report

It’s more of the same this month. We have rising prices and falling inventory. The main culprit for rising prices is the lack of inventory.  We currently have about 2000 less listings than we had the previous last two years but 500 more pending homes than the previous two years. The inventory has dropped to 1.7 months which means at the current pace of sales, if no new listings came on the market, all of the homes would be sold in 1.7 months.  This creates a Continue reading →

The Value Of A Home

I have been reading a lot lately from people talking about pricing. Homes are only less subjective than art and collectibles. What is the White House worth? I got into an online discussion with an appraiser from the Southwest. He believed that only a licensed appraiser can determine the value of a home. Asking a Realtor®, in his opinion, was like asking your tax attorney to take care of your divorce. Sure.  This from an industry that only needs three comparables to justify a price. Continue reading →

The Draw Of the Flaw

I stole the headline from the Washington Post because it is so good.  Buying a home with real or perceived flaws can allow you to be in a neighborhood at a discount. It is just best that you understand why there is a discount. Powerlines are often an issue for many.  No one has determined conclusively whether or not it is bad for you and for the conspiracy leaning folks, would the government admit to it and incur the cost of burying the lines?  In Continue reading →

I Don’t Double-End Sales (Representing Both Sides)

There’s two kinds of dual agency. One is where two people from the same office are helping the seller and buyer respectively.  The other kind is when one agent represents both the buyer and seller. Agents call it double-ending or double-siding sales.  While I have a couple of friends I truly respect and trust that will do this, it is just something I cannot do. Would you want the same person coaching you and the opposing team at the same time? Of course not. How can I truthfully Continue reading →

Things To Do In Portland April 17-19

April 17 – 26th Hood River Valley Blossom Festival April 17 – 18th Cascade Brewing Barrel House Wild & Sour Invitational April 17 – 19th OMSI Sci Fi Film Festival April 17th Starting tonight, Blade Runner at the Hollywood Theater in 33mm print. Harrison Ford is young! April 17 – 18th 11th Annual Art of Storytelling FREE April 18th Record Store Day April 18 – 19th NW Pet Fair April 18th Chocolate Decadence Tour April 19 – 19th Linework NW Portland’s premier festival of illustration. Continue reading →