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Quick real estate update September 2018

Selling my home next steps

Why listings expire how to fix next time

The Tax Cuts and Jobs Act of 2017 (‘The Act’) was signed into law at the end of 2017. The Act has made some fairly dramatic changes to how many homeowners will file their taxes this year. This abbreviated summary addresses certain parts of The Act that may affect homeowners. The Act is
generally effective starting in 2018.

State and Local Tax Deductions.

In the past, an unlimited amount of state and local tax deductions were deductible on your Federal tax return. Now, on Schedule A, there is a $5,000 limit if filing single or married filing separately; $10,000 limit for married filing jointly.


Mortgage Interest Deduction.

If your home was purchased after December 14, 2017, the mortgage interest deduction is subject to new limits. ...

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June 2018 Real Estate Update – Portland Metropolitan Area (Per Regional Multiple Listing Service Market Action, June 2018 reporting period.)

Both year-to-date and in the month of June 2018 there has been a bit of mixed results. New listings are up year-to-date about 2.7% compared to the first six months of a year ago. However, pending sales are down 1.7% and closed sales are down 2.2% for the same period. It appears that a sellers realize there has been a slight softening in the marketplace, they feel a slight sense of urgency to get their home sold, if they have been planning to.

Comparing 2018 to 2017 through June of each year, the average sale price rose 6.2% from $427,000 to $453,400. The median sale price rose 6.7% from $375,00...

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Portland-area real estate: 15 most in-demand neighborhoods

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Today, I want to talk a little about Comparative Market Analysis that real estate agents put together and compare that to an appraisal that is performed by appraisers and online valuations on sites like Zill ow and other, similar sites. A comparative market analysis is put together by a real estate - they do not charge for this. The real estate agent is looking at your home and learning about the location, condition, floor plan, amenities, any special terms you will offer and the square feet and lot size. With that in mind, they will compare your home to homes currently on the market, homes that are currently, pending, homes that have sold recently, and canceled and expired homes to get a sense of how your home would be perceived by buye...

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Looking for a new home can be an exciting and challenging experience. Having a real estate professional that takes the time to understand your unique needs and lifestyle is important.
I will work hard to not only find you the perfect home, but also handle every last detail of the purchase process, from negotiating the terms of the sale to recommending moving companies.

To help you get started on buying your new home, take advantage of these valuable resources.

Step 1: Decide to BuyThe decision to purchase your first home is one of the biggest and best decisions you could ever make. After all, a home is the largest (and most emotional) investment most people will ever make. So, how do you know if it’s the right time for you to buy your...

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1. Are you a full-time professional real estate agent? How long have you worked full time in real estate? How long have you been representing buyers? What professional designations do you have? Knowing whether or not your agent practices full time can help you determine potential scheduling conflicts and his or her commitment to your transaction. As with any profession, the number of years a person has been in the business does not necessarily reflect the level of service you can expect, but it is a good starting point for your discussion. The same issue can apply to professional designations.

2. Do you have a personal assistant, team or staff to handle different parts of the purchase? What are their names and how will each of them help m...

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When a buyer makes an offer to purchase a home, included in the standard Residential Real Estate Agreement in Oregon is a section on Buyer Representation Regarding Financing. There are several items included there that are important for both a Buyer and Seller of real estate in Oregon to know and understand.

1) As of the date of signing the agreement, Buyer shall submit to lender a completed loan application within an agreed upon number of days, if a loan is required. What constitutes a loan application is enumerated.2) Buyer will complete all necessary paperwork in the future in a timely manner and exercise best efforts to obtain the loan.3) Buyer agrees that if they intend to proceed with the loan transaction, within ten business days f...

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The standard Oregon Residential Real Estate Agreement has several contingencies that are included or can be included in the contract. It is helpful for both Seller and Buyer in a residential real estate transaction to know and understand the contingencies available to the Buyer, so they can better understand the ‘ins and outs’ of the agreement. I am a licensed real estate professional – not an attorney! You may want to seek legal counsel if you have questions regarding any points made here or regarding any real estate transaction you are involved with.

1. Financing Contingencies – There are three financing contingencies included in the standard contract: 1) Buyer must qualify for a loan from Lender, 2) Property mus...

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