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How to Compete in this Market

October 15, 2020 by Jessica Berger and Tekela Fisher 1 Comment

The best words to hear after you have been out house hunting are, “Your offer has been accepted!” You did the hard work of finding your dream home, putting together a thoughtful offer, and waited patiently for what seemed like days to get the news back. Unfortunately, in our current market of high demand and low inventory, it’s becoming more and more rare to hear those fantastic words. Luckily, we have tools in place to help you get your offer accepted and to stand out against the competition, even if that competition is paying all cash.

Portland bungalow

It seems like every offer is competing these days. In the close-in neighborhoods with ‘Pinterest perfect’ homes, you could be competing with 12 or more other people. We know it is tough out there, but before you get discouraged, know that we have quite a few tricks up our sleeves to help make your offer stand out. Here are our top 4 recommendations to help get you that accepted offer phone call.

#1 Make a stronger offer

There is no way to know exactly what the competition is offering, but we can still make our strongest possible offer up front. In most cases, money talks, so offer over the list price and don’t ask for any concessions. Going in with a strong offer up front shows you are serious and that you don’t want to play any games. We can also write in an escalation clause. That allows you to set a cap and offer a set amount over the next best offer.

#2 Write a love letter

I know, its cheesy. But for most people, a home is a sentimental place. They want to know the home is going to someone that will love it just as much as they did. Tell them earnestly why you love the home and how you imagine yourself living there. A sweet case of serendipity may just win over their hearts.

#3 Waive or shorten some contingencies

The contract is written to strongly favor the buyers in the transaction. There are multiple opportunities that allow you back out of buying the house but there are none for the sellers. You can sway the contract a bit more in their favor by shortening or removing some of the contingencies. You can remove the contingency for the seller property disclosures, shorten the inspection period, and waive the right to re-negotiate price based on the appraisal. Discuss each of these options in detail with your agent. There are varying levels of risk with each contingency, so it’s important to know all the options before removing them.

#4 – Pay their closing costs

This isn’t something we see very often which means it could really sway your offer to be more favorable. Sellers have to pay title and escrow fees just like buyers do. We can offer to cover those costs to help bring the sellers net proceeds up just a bit. You could also offer to pay the commission which typically come out of the seller proceeds, but that is a much larger monetary commitment.

#5 – Surprise them

Do you have a special talent? A huge wine collection? Access to lots and lots of pizza? You can offer anything that you would like to get the sellers to accept your offer. I have had clients offer to brew the seller any type of beer that they would like (only in Portland right?). I have had clients offer free pizza for a year, a weekend get away at a beach cabin, the sky is truly the limit! The trick here is that you cannot attach any monetary value to it. We are giving it to them in exchange for the home, but it needs to be as a gift.

Even after doing all of these things, we may still have been beat out by a higher offer but it is important not to give up. The right home is out there, and when it is meant to be, it will be. Though it’s not on this list, having a great real estate agent on your side is crucial. Having positive working relationships with other brokers in the city has gotten our offers chosen over other (higher!) offers on many occasions. IF you want to get to know either or both of us a little better head over to our about us pages. You can read about Jessica here and Tekela here. Also, you can read our quick guide and meet our favorite lenders here. Lastly, if you want to look at the homes available on the market, you can find those here!

5 & Dime

August 18, 2020 by Jessica Berger and Tekela Fisher Leave a Comment

Our hot spot of the week this week is my favorite patio in FoPo, the 5 & Dime! It’s been almost 2 years since this rad neighborhood spot opened. I am still as excited about it today as I was on opening day! The drinks are cold and the service is warm. What more could you ask for??

First off, I love the decor in this place. From the Anthony Bourdain portrait to the Blazers art and neon signs, everything in here feels hip and effortless. Currently, you will only be able to see it on the way to the bathroom with your mask on, but I applaud the owners for the efforts they have put in to keep everyone safe! They have expanded their outdoor seating area so that there are more tables. All of them have proper spacing and sanitizer as well.

The Seating

The cocktail menu at 5 & Dime is always rotating, and always fabulous. With different themes for each like ‘High School Reading List’ or ‘American Gods’. The seasonal list right now is music-based, and I have been loving the Mary J Blige nod to the Aperol Spritz. If I’m feeling less bubbly (as if) I tend towards their delicious draft Negroni.

While current restrictions mean that their delightful snack boards are on hold for the time being, you can still order some pizza or knots from Atlas pizza next door to soak up all of those tasty libations.

My favorite thing about the 5 & Dime is that they have something for everyone. You can get a cheap beer or a finely-tuned cocktail, a dive bar aesthetic that’s elevated just the right amount, great service with a sense of humor, and most of all, a friendly neighborhood welcome!

Check them out here!

What is your favorite neighborhood haunt? Let us know in the comments!

The Open House

June 11, 2020 by Jessica Berger and Tekela Fisher Leave a Comment

Today we are taking you behind the scenes of everything we do to prep for an open house! We made this great video for you to enjoy! If you prefer to read about it, we have that included below for you!

The first and most important thing that we do to prepare for an open house is to research the current trends in the neighborhood. We are constantly watching overall trends, but we want to be able to answer neighborhood specific questions to prospective buyers as well. We pull together a list of comparable properties, every other open house in the neighborhood, and our buyer book and head off to the house.

The Big Set Up

All of our open houses are marketed on multiple websites and through facebook ads, but you never know who might be driving by, so we also place many signs around the neighborhood to make it easy to find us.

Once we are at the house we want everyone to feel like they are already home. We have both sweet and savory snacks available, white or rose wine, sparkling water, and plenty of napkins. We also want to turn all the lights on so the home shows the best it can no matter the weather. This also gives a chance to get even more familiar with the property. We look for the furnace, water heater, and any quirks that people may have questions about.

Open houses are one of the most fun things you can do as a realtor. You get to meet quite a few people and usually spend a couple hours inside a gorgeous house. If you are starting to think about getting into the market, we are happy to send you weekly open house lists. Just fill out the form below! You can also search for homes by clicking HERE

The Listing

June 11, 2020 by Jessica Berger and Tekela Fisher Leave a Comment

Today we are taking you behind the scenes of everything we do to prep and win a listing appointment! We made this great video for you to enjoy! If you prefer to read about it, we have that included below for you!

The first and most important thing that we do to prepare for an upcoming listing appointment is to research the current trends in the neighborhood. We are constantly watching overall trends, but pricing a home and creating a personalized market plan requires specific data about which homes have just sold, how long they were on the market, and many other factors. We pull together all the market data, put together a personalized marketing guide, print the contract and head over to the potential new listing!

The Interview

A listing appointment is when we are truly being interviewed. We put our best foot forward and show everything that we have to offer. Typically we are going to be competing against 2 or 3 other agents so it is critical that we set ourselves apart. One big thing we do is send our ‘7 tips for Selling your Home’ booklet to the potential client before we even meet them. You can download it HERE if you want to check it out.

Some other big differences you can expect to get from us are the scope of our marketing knowledge and the brand power we bring. We are well-versed in running social media ads so we can guarantee the listing will get many more views than any neighbor’s listing. We also have the power of the Sotheby’s brand behind us. That gives us access to all of their marketing partners. We get to see our listings on the New York Times, Wall Street Journal, Mansion Global and many, many more websites around the world. The home is also marketed directly to our global Sotheby’s network. It may just be the perfect fit for an investor or someone relocating here to Portland.

Marketing

In the video above, our listing proposal stood out and we won the listing over at least one other agent. It always feels good to win, but now that we have the contract signed, it is truly time to get to work. Here is quick list of everything we have to coordinate in the week before the listing goes on the market.

Professional photos are the most important step at this stage. NEVER hire an agent that tells you they can take the photos on their phone. They won’t look good and you only get 1 chance to make a first impression. We also do a stunning walkthrough video, 3D tour, and drone pictures. Your home will be the best looking one on the block when we are finished.

The home in our video went pending for full price after only 4 days on the market. If you need some guidance about what to do to sell your home, we would love to come and interview with you! If you want a quick snapshot of your home’s value, you can find that HERE. Or if you prefer to check in on your neighbors homes, you can search for everything on the market HERE. You can also fill out the form below and we will be in touch soon!

Muse

March 9, 2020 by Jessica Berger and Tekela Fisher Leave a Comment

As everyone knows, we LOVE bubbly. All things sparkling, from Cava to Champagne, Pet Nat to Prosecco. We even run a monthly Champagne Meet-up group to explore and celebrate bubbles all over the city. This last meet-up we went to Muse Winebar and now it is our Hot Spot of the week!

There were many things to love at this hip new wine bar. The lighting and decor gave the feel of a dimly cozy wine cellar, with Edison bulbs and black and white photos dotting the walls. The size was just right as well, intimate but still large enough to accommodate our group of 13.

Photo credit: https://www.instagram.com/musewinebar/

Another thing we adored about Muse Winebar was the level of service. Kai, one of the owners, was our server for the evening and he was exceptional. He had a high level of knowledge about everything in his collection and was really great about telling us about the different processes and derivations of the sparklings we were tasting. He was very warm and accommodating, and helped everyone to get exactly what they were looking for.

Photo credit: https://www.instagram.com/musewinebar/

In addition, they had no less than 6 sparklings by the glass (be still, my heart!) AND they do wine flights of 3 or 5 half pours of your choice, so many in our group decided to sample almost every bubble on the list. We also tried several of the food accompaniments: a few cheeses, chocolates, and bread, which were all delicious complements to our flights of wine and lively conversations.

Photo credit: https://www.instagram.com/musewinebar/

We are very much looking forward to returning to experience more of the welcoming atmosphere and delicious wine that Muse Winebar has to offer!

Have you tried Muse Winebar yet? What did you love? Let us know in the comments! Plus, check out our previous Hot Spots here!

January 2020 Market Stats

February 18, 2020 by Jessica Berger and Tekela Fisher 1 Comment

The time has come to once again look back on the market and reflect on how healthy the market has been. January of 2020 was a great month for Portland. Home prices are up 6.3% from January of last year! Despite all the recession rumors, everyone that owns a home is still making money. Interest rates are still insanely low. If you are thinking of buying, do it now before home prices jump up even more. If you want to read more about all the specifics, continue on past the graphic below!

January 2020 Real Estate Market Statistics
What these numbers mean to you

We also saw a significant jump in new listings, pendings, and sold homes. Many people entered the real estate market after the holidays which explains this big jump. While it is good to see homes coming on the market, we are still sitting around only 2.2 months of inventory. If no one else puts their home on the market, every single home will be sold in just over 2 months. As a buyer, this means there will be competition on all those ‘Pinterest perfect’ homes and you should expect multiple offers. As a seller, this means there is almost no competition and as long as you are priced appropriately, you should expect to sell quickly.

Despite this, we surprisingly saw the average days on market climb as well. If you separate this stat out by price point it paints a very different picture. Homes under $500,000 are, on average, selling in 7 days or less. Houses up to $1 million are selling in about 30 days. Homes over $1 million are selling in 60-100 days on average. If you want specifics on how long your home may take to sell, send us a message and we will happily send you some data.

Ready to make a move?

You sometimes hear us say “now is the perfect time to move” but whether you are a buyer or a seller, there are some really strong cases to be made about 2020 being the right year to do it. If you want to look at homes currently on the market you can do so here. If you want an instant evaluation of what your home is worth, you can do so here. Take advantage of the current interest rates to get yourself into a new and amazing home! You’ll be glad you did.

Does our analysis match your perception of the market? How did you feel January of 2020 went? Let us know in the comments!

February Events

January 30, 2020 by Jessica Berger and Tekela Fisher 1 Comment

February 2020 is here and we are excited about so many events all over Portland! Whether you are looking for a fun day with the family or a great new festival to check out, we have you covered below!

Dragons Love Tacos

Saturday February 1st-February 16th

Oregon Children’s Theatre presents a fun and dance-filled tale of a boy, his dog, and a quartet of hungry dragons. Based on the book by Adam Rubin, this show is sure to delight.

1111 SW Broadway, Sat shows at 2 pm and 5 pm, Sundays 11 am and 2pm, $15-$37.

More Info

Portland Winter Light Festival

Portland winter light festival
February 6th-8th

The Winter Light Festival is celebrating it’s 5th year and is an amazing event to attend with the whole family. There are many light installations, performers, pop-up events, and things to do. Check out the website below for all the details!

SW and SE Portland, Free

Website

Zwicklemania

zwicklemania, Portland
Saturday February 15th

More than 100 breweries across the state open their doors for tours, tastings, meet-the-brewer sessions, and of course, free samples. This free event runs from 11 a.m.-4 p.m.  Check out the website below for all the details about breweries that are participating and to plan your route!

Multiple locations throughout Portland, prices vary

Website

Omsi After Dark: PrOMSI

Saturday, February 15th

Tease your hair to the heavens, take an awkward photo with your date and hit the pre-spiked punch. Shoot off water rockets, concoct chemical creations, and explore the wonders of OMSI with no kids in sight! Enjoy a glass of wine while learning about robots, tornados, or fossils. Talk to a brewer about the science behind beer, or sample products from local artisans.

1945 SE Water Ave, $16

Tickets and Info

Circa 33 9th Annual Prohibition Party

Saturday, February 22nd

Dress up for a swanky night on the town with your best pearls, boas, and beaded flapper dresses- or wear your best suit, suspenders and fedora as a tribute to the mafia and muscle of the bootlegger era. Enjoy themed craft cocktails and food, available for one night only, as a tribute to the most popular 1930s libations and treats.

3348 SE Belmont St, $20

Tickets here

Portland Sinful Walking Tour: Shanghaiers, saloons, skullduggery 

Portland Walking Tour
Saturday, February 29th

It’s the monthly Portland Walking Tour! Learn about all the Sinful past of P-Town, or as we call it – Portland’s naughty bits!! Enjoy walking around Old Town, hearing about the history stuff, and help us celebrate the Leap Year! 

118 NW Couch, $18

Tickets and Info

Brewstillery Festival

Portland Brewstillery Festival
Saturday, February 29th

What better way to stay warm this winter than Breweries and Distilleries teaming up to create the perfect pairings. Each pairing will consist of a 4oz beer pour and a 1/4 oz spirit taste. Only like beer? Then just drink beer. You can pick and choose, although we strongly recommend going for the pairing. 

Stormbeaker Brewing, 832 N Beech st, $25

Tickets and Info

Which of these February events are you most excited for? Did we miss an awesome February event in Portland that you want to tell us about? Let us know in the comments!

Want to make sure you don’t miss our monthly events list? Subscribe below and we will email it to you each month!

Tea House at The Chinese Garden

January 28, 2020 by Jessica Berger and Tekela Fisher Leave a Comment

The Chinese Garden is one of the true treasures of downtown Portland. The rest of Chinatown is known more for its nightclubs, but this oasis is something you should add to your “must visit” list.

There are events most days, ranging from Tai Chi in the courtyard to artist meetings and craft events. Check out the calendar over on their website to find something fun to coincide with your visit here.

Lan Su was built by Chinese artisans from Suzhou, our sister city in China. It is considered one the most authentic Chinese gardens outside of China. After you finish walking through all of the pavilions, head over to the tea house for some superb Chinese tea.

There are many types of teas to choose from but I highly recommend doing the full tea ceremony. The ceremony allows you to choose a style of tea and observe the leaves and aroma more fully. You are also able to take in the unfolding of the aroma as you continue to add infusions of water to the leaves.

In addition, there are many lovely snacks to nibble on while you are tasting the teas. They stick to authentic Chinese fare so the snacks really complement the tea quite well. Whether you want something sweet, savory, or a small meal, the tea room has you covered.

We tried the steamed buns which were filled with sautéed seasonal vegetables. The buns were perfectly doughy and they weren’t overfilled. We also had the seasonal vegetable dumplings. They were steamed and topped with a light black bean sauce. Overall we were really happy with the food and can’t wait to visit again.

Have you been to check out the Chinese garden or the tea house yet? Let us know what you thought in the comments!

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