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June 2021

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The latest market update is out for June of 2021. Inventory is starting to creep back up and the buying frenzy is starting to calm down. This is really good news for buyers that are still in the market. We are seeing homes get a couple of offers instead of 20 and houses selling for 100K over list price are becoming increasingly rare. If you are a seller, there is still a good market out there and plenty of buyers, it just isn’t the feeding frenzy it was back in March. If you want to get into the details, continue on below!

The first things we notice is the average sales price. We haven’t quite hit 600k as our average to live in Portland proper, but we will by next month. This is over a 20% increase from last year and a 2% increase from just last month. I know we say this a lot, but if you are on the fence about buying, get off of it. Things are going to continue to climb and gain equity, so waiting is only making it harder to buy.

The other big stat that jumps out is the amount that things are selling over the list price. Earlier I mentioned that things were starting to cool off. That is true though this number doesn’t show it. The thing to remember is that 13% average is from homes that went pending in May and closed in June. May was one of our busiest months. Things have settled back down between 8-10% over as of recently.

The other bit of good news for buyers is that listings are finally starting to climb up above the closed sales. Things are still selling quickly, but at least everyone has multiple options when they are deciding what to buy. If you are a seller, make sure you are situating yourself with the right listing agent, the right price, and the right marketing so you can stand out among the crowd.

If you want to chat about specifics whether it is buying or selling, we are happy to do so! Just call or email us and we would love to talk with you about your unique situation! You can also look for homes HERE if you are ready to get started.

Portland’s Best Shaved Ice

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This summer started off with some extreme heat, and now that it’s settled, we are still looking for ways to keep our cool. What’s better than a frosty treat on a hot summer day? Quite simply nothing. This week, we sought out Portland’s Best Shaved Ice! For some of us, shaved ice reminds us of our childhood at the local fair, and for others, it’s a memory of family outings that ended in a sweet treat. However you like your shaved ice, all of these shops will bring you right back to the joy you felt as a kid.

Wailua Shave Ice Portland

1022 W. Burnside St. Unit O
Portland OR. 97209

Open Mon – Tue 12pm- 5pm,
Wed 12pm – 7 pm, Fri – Sun 12 pm – 7 pm
Menu Here

Manoa Shave Ice

333 S State St Suite B, Lake Oswego, OR 97034

Open Tue – Sun 12 pm- 8 pm
Menu Here

Snow Bunny Coffee

1415 NW 11th Ave, Portland, OR 97209

Open Mon – Fri 6 am – 6 pm & Sat – Sun 7 am – 5 pm

Ohana Dessert and shave Ice

6320 NE Sandy Blvd Portland, OR 97213
&
10608 SE Main St. Milwaukie, OR 97222
Open 7 days 11 am – 9 pm
Menu Here

Next time you find yourself wandering around town looking for a sweet treat to cool off, check out one of Portland’s Best Shaved Ice shops. If you’re not quite ready to go down memory lane with shaved ice, check out some of our other Portland favorites Here. Let us know if we’ve missed your favorite, and we will check them out too!

2021 Summer Tips

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Hey Friends, Today we are going to be talking about summer home maintenance tips for 2021! If you prefer to see the video, you can do that HERE

Today we have 5 tips to help you ensure you extend the life of your home, appliances and make ti though the summer in style!  

Tip 1: HVAC

Have your furnace and AC serviced. There is nothing worse than having your AC go out during a heat wave.  If you don’t think you need a technician to come out, make sure to replace all your filters so things are running efficiently.  

Summer AC
Tip 2: Windows and Doors

Check your window screens and weatherstripping around the house.  Even the smallest holes in the screens can allow mosquitos and other pests into your home while you are trying to get a some fresh air. Also check the seals around your windows and doors, if you do have the AC running we want to be sure we aren’t wasting precious cold air by allowing it to escape outside.  This will also help your energy bills go down, so its a win-win. 

window sealing
Tip 3: Power Wash

Power wash and reseal your deck or patio.  We want to make sure your deck and patio make it through the whole summer.  Power washing can remove any pollen, grime, or buildup that may have accumulated during the spring and winter months.  If you have a wooden deck resealing it will ensure that you get many more seasons out of your deck and it will look great. 

power washing
Tip 4: Dishwasher

This is an easy, but often overlooked one.  Clean your dishwasher. We don’t think of this often because it cleans our dishes, but it can get food buildup and soap scum which leads to a less than ideal clean. Run the dishwasher on the highest heat setting with a bowl of white vinegar in the top rack. Your dishes will have never sparkled so much. 

dishwasher
Tip 5: Gutters

And lastly, clean out your gutters.  They likely have some buildup from the spring and winter and need to be cleaned out.  This ensure that when those rare heavy summer rains do show up, everything is draining the way it is supposed to. 

gutters

Hopefully this gives you a couple quick things to do to spruce up your house, if you think we missed any really important tips, let us know in the comments!  Otherwise have a great weekend and enjoy your summer of 2021! 

Arden

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We had the pleasure of dining at Arden last week, and it was phenomenal. I’m a true portlander when it comes to food. I LOVE farm to table NW Cuisine. After following Arden on instagram and participating in some of the weekly wine talks, I was beyond excited to try this pearl district gem.

Arden Patio

They have a great wine list with multiple options in all styles, including sparkling (yay!). A temporary patio if you are not yet comfortable dining indoors, and a waitstaff that is both friendly and helpful when its time to make a decision.

We wanted to try basically everything on the menu, but luckily our waiter helped us narrow things down to items that would pair well with each other and our sparkling wine. We ended up choosing a burrata salad, smoked trout toast, and foie gras to start with.

The vegetables were all fresh, crisp and absolutely shined in these dishes. The trout toast was my favorite of the three. It featured toast with a smoked trout aioli, smoked trout slices, peas, radishes, lemon zest and a bit of dill. I highly recommend you trying this one!

To finish out the meal we shared the goat cheese gnocchi and a side of blistered radishes. The gnocchi was light and fluffy and complimented by a fabulous pea puree, parmesan cheese and prosciutto. The radishes were simple, but delicious! And to finish the meal we just had to try a dessert. They had a basque style cheesecake served with rhubarb that was absolutely divine.

The menu changes frequently and I know I will be back to try some things again soon. If you want to check out the menu before you head in, you can find that here. If you do go check them out, let us know what you think!

Pro Tips:

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How to Buy a Home when you need to Sell

So you are ready to move? Whether it is downsizing, upsizing, or just getting into a different area, needing to sell first can feel like a huge obstacle. Luckily we have 11 awesome tips to help you buy before you sell so this transition is as smooth as possible!

You can download our full guide, or continue below to read the highlights!

Buy when you need to sellDownload

Tip 1:

Get a Bridge Loan

If downpayment and closing cost funds are keeping you out of your dream home, consider a short term loan. A bridge loan will give you cash to use towards your next purchase.  This allows you to purchase a home with no additional contingencies!  After you move, you use the funds from the sale of your current home to pay the loan back.

Tip 2:

Use a HELOC – Home Equity Line of Credit

This is one of the most common strategies that we are seeing.  Use the equity in your home to get a line of credit to pay for your new home.  This also allows you to purchase first with no additional contingencies.

Tip 3:

Buy New Construction

Builders commonly have additional inventory allowing you to plan out your move date in advance.  This allows you to line up the closing of your current home and the closing of your new home with some overlap to ensure you only move once.

Tip 4:

Custom Build a Home

Similar to buying new construction, this allows you to line up your closing dates and your moving dates. Most custom home builders have in-house financing that will allow you to sell your home and build simultaneously.

Tip 5:

Borrow from your 401K

This allows you to temporarily pull a “loan” from your 401k.  Having this loan allows you to have the cash on hand to make strong offers with no additional contingencies. There are some special circumstances so be sure to discuss this option with your financial planner and/or CPA.

Tip 6:

Seller Carried Financing

This isnt a very common option, but if the seller owns the home outright, they will sometimes carry a short term loan for you while you wait for your home to sell.  This option requires an attorney and usually has higher interest rates associated with it.

Tip 7:

Negotiate a Lease Back

With a strong sellers market, we can list your home and ask the new buyers to give us time in the home after it has sold.This can give us an additional 60 days to find and close on your new home.

Tip 8:

Use Sale Subject To

With a strong sellers market, most buyers just want to “win” a home.  We can ask to have a close date that is subject to you finding a replacement property.  Most people want to have some idea of how long that will take, so we often see in contract within 60 days.  This is a great option especially when paired with a rent back.

Tip 9:

Look in Less Desirable Areas or Price Ranges

If you don’t have a strong preference for a certain area we can focus on locations that are not as competitive.  This allows us to have more control in our offer terms and closing dates. Also, if you have some pricing flexibility, we can find price ranges that don’t have as much competition.

Tip 10:

Write a Contingent Offer

We can write an offer that is contingent upon the sale of your current home.  This allows us to find the home you want before putting your home up for sale.  Depending on market conditions, it can be difficult to have this extra contingency accepted.

Tip 11:

Rent for a Bit

If you want to sell at the peak of the market and have additional time to look for a home, this can be a great option.  Find a short term rental to move into to remove the timeline crunches of finding a new home.

Now that you know your options, are you ready to see what your home might be worth? Or are you ready to see what options are on the market? You can do both right here!

Home Value
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Or, if you would rather chat with us before jumping right in, fill out the form below and we will get back to you right away!

Slappy Cakes

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Slappy Cakes is a Portland favorite and one of the most fun restaurants that you can visit in SE Portland.  With griddles on nearly every table, you can order and make your very own pancakes at your table.  They always have buttermilk, chocolate, and vegan batter, but there is also a rotating seasonal flavor to keep you coming back.  This time around it was a lemon poppy seed which paired perfectly with our fruit. 

Slappy cakes

I went as a special mom and daughter date, so we ordered all the berries, chocolate chips, and whipped cream.  The pancakes are light and fluffy, and the flavor combination was perfect.  In the past I have ordered chorizo and goat cheese toppings, so if you are feeling adventurous, be sure to check that out! If you aren’t in the mood for pancakes, they also have all the breakfast staples.  Hash, Benedict, Scrambles, Candied Bacon.  This place will truly please everyone in the family. 

Because I was having a mommy and me date, we ordered some fresh squeezed orange juice.  They have multiple juice options, but if you are in the mood for something a little stronger they also have a fantastic cocktail menu.  I highly recommend the Slappy Cakes Bloody Mary!

We constantly go back to this restaurant for the fun atmosphere and the yummy food and drinks, have you been to visit yet?  Make sure to let us know when you go! 

Kimura

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This week we headed out to try something new. I’d never had a japanese toast before, but I’d only heard good things. Located on the very popular Williams corridor and next to another favorite hotspot, Kayos Ramen, you can come to Kimura for lunch or dessert! Shokupan, also known as japanese milk bread, is a soft and spongy this bread that you can order with a huge array of toppings.

image courtesy of https://kimuratoast.com

The toast reminded me of a mix of a croissant and french toast. It was thick and spongy like a good french toast, but delicate and buttery like a delicious croissant. I chose to have mine topped with strawberries and cream which perfectly complimented the warm sunny day.

kimura - strawberry toast

Naturally I enjoyed my toast with my favorite beverage, a glass of champagne, but they also have a wide range of other drinks to choose from. There are multiple wine options, coffee and espresso with coffee beans from Proud Mary Coffee, teas from Smith Tea Maker, and of course, Matcha tea and lattes.

We are definitely going to be going back to visit again to try some different toasts and house made butters. Let us know if you have stopped by yet and what your favorite dish is. You can also check out their website and menu Here. If you want to see what else we love, all of our hot spots can be found Here. See you next week!

March Market Update

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The real estate market in Portland is showing no signs of slowing down. As we head into spring we fully expect to see the same trends continue. If you are on the fence about buying, I’d jump off now even though it is competitive. Interest rates will keep climbing as we continue through the year and that will only lessen your buying power as home prices also continue to climb.

Breakdown

The average sales price jumped up to $542,000 from $514,000 in just a month. That also gives us a 14% increase from last year. Portland has been seeing a 10-14% increase in sales price since way back in 2018. Even if you are buying at these higher prices, you are still going to be gaining equity over the next couple years.

As we see the weather change we are also seeing more homes come onto the market. This is good news for buyers, but things are still very competitive out there. Homes are selling for an average of 8.5% over list price, in some neighborhoods this is close to 12%. Make sure you are taking to your realtor about specifics so you can be making informed decisions whether you are writing offers or planning on listing your home.

As we mentioned above, if you are waiting for the bubble to pop or the other shoe to drop, you may be waiting for a long time. The market is healthy and climbing and most economists agree this will continue for at least another year. Once inventory finally starts to stabilize we will see a slow down and plateau, but it shouldn’t cause prices to drop. If you have specific questions feel free to reach out and we would love to chat with you! Lastly, if you need some tips to get your offer accepted, head over to THIS POST to read all the things we are doing to win for our buyers.