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Buyer Closing Costs

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Today we are going to be talking all about closing costs! Check out the video below to learn all about them! If you don’t like videos, read on below.

Last week we went through closing costs when you are selling a home, but there are also closing costs associated with purchasing a home.  Most buyers are aware that they need to save up for a downpayment. They also know they need to pay for inspections. But, many people don’t realize there are also quite a few fees that you need to budget for.  

I had a buyer a couple of years ago that had to let their dream home go because they didn’t have enough cash to close on the home. This could have been solved if they had know to budget for an extra 3%.  I really don’t want you to end up in that situation. So here are my 3 tips for buying a home when it comes to closing costs.  

Write out a budget

Meet with your realtor and write out a budget. Depending on the time of year that you are buying, closing costs can vary from 2-4% of the purchase price. That means if you are buying a $500,000 houses here in Portland, you can expect your closing costs to be about $15,000.  We have a great buyers guide for you once you are ready to get serious about buying a home. You can download it HERE

Be honest about what you can afford

Take a look at your finances and budget for what makes sense.  Just because you are approved for a $500,000  house doesn’t mean that is what you should spend.  If you only have $7,000 to put towards closing costs, we may want to look at buying a cheaper home.  You don’t want to move in and be immediately house poor, so lets come up with a real budget and decide what kind of purchase makes the most sense to you.  

Stretch your money

Make a plan for your money to go farther.  Depending on the health of the overall market, we may be able to ask the seller to pay for some, or all, of your closing costs. This means that your money can go farther.  While this is an option in all markets, if we end up writing an offer on a home with multiple offers, the chances of our offer being accepted and getting closing costs covered is very low.  There are things we can do to combat this, so we just need to sit together to plan everything out.  

Closing costs are not a fun part of the real estate transaction. They do however pay for your new deed, so they are crucial to buying a home.  If you want to sit down to discuss the specifics about what fees are covered, or if you just have general real estate questions, I would love to chat with you anytime! 

Be sure to follow us on Facebook, Instagram, and Youtube so you are always up to date with what we are doing!  You can also sign up for our monthly newsletter and we will send you fun events happening in Portland.  

Thanks for joining me today and I will talk to you soon!

Straightaway Cocktails

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We headed out to try the relatively new tasting room for straightaway cocktails this week. You may have seen some of the cans of white wine spritzer on the shelves of your local new seasons and that had me very curious!

straightaway cocktails building, Portland Oregon

We sampled both the cocktail flight and the spritzer flight, both of which come paired with a little snack. The cocktails were all delicious, perfectly strong, and less sweet than you would imagine for a pre-made cocktail.

Straightaway Cocktails has 6 pre-mixed cocktails tat you can sample or buy. These 6 classic cocktails are the Lintik, a gin martini, a cosmo, a negroni, an old fashioned, or a paper plane. Each cocktail has a unique twist on to give you a little surprise, as an example, the martini also has a dash of orange bitters. My favorite of the bunch was the cosmo, not just because I am a vodka girl, but also because it had a really nice dry citrus bite to it. Each cocktail comes with it’s own pairing snack, which for the most part, were wonderfully flavored popcorns. We tried a mexican chocolate popcorn with the negroni and they both really complimented each other.

The Spritzers are served on a tray with a nice amount of kettle chips. These help you get that salty element you crave while drinking a white wine spritzer. There are 4 choices; the last word, the apertivo, the fiore, and the negroni. They are all made with sparkling pinot gris, a liqueur, and some bitters that vary drink to drink.

The staff was incredibly kind, knowledgeable, and very excited that we were in to visit. We were given really great pairing notes and information about where all the delicious snacks and flavors were sourced from. You can’t get a full sized cocktail in the tasting room, but just doing the smaller platters was a ton of fun! they have a small shop inside the tasting room so you can bring a bottle home with you. I bought a sample pack just in time for the holidays.

Have you tried this awesome new distillery yet? Check out the menu and website here! Let us know what you think in the comments!

Holiday Shopping

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With black Friday arriving it is time to do some holiday shopping. When you live in a place as awesome as Portland, it is easy to shop local! There are lots of places having sales all week for you to take advantage of. Whether you’re shopping for family, friends, or yourself, we hope you find something wonderful on this list!

Sloan

  • 735 NW 23rd ave ·· 3526 SE Hawthorne blvd ·· 3824 N Mississippi Ave
    • On Trend women’s apparel and accessories

Twill Boutique

  • 3539 SE Hawthorne blvd
    • Youthful women’s fashion boutique stocking jewelry, dresses and sportswear, much of it US made.

Ragan’s Boutique

  • 1925 NE 42nd Ave #A
    • Carrying a wide variety of sizes and styles in unique women’s fashion

Sweet Jayne

  • 1914 NE Broadway st.
    • Eclectic boutique offering fashionable closeout womenswear & inventive, locally-made jewelry.
sweet jayne boutique
Photo Courtesy of Sweet Jayne

Modo Boutique

  • 729 E Burnside st #103 ·· 2025 NE Alberta st
    • Snug store stocking an ever-changing selection of womenswear, shoes & accessories on consignment.

Adorn

  • 3366 SE Division st ·· 4120 NE Fremont st ·· 1016 SW Washington st
    • Brand-name women’s clothing, shoes & accessories in a chic, stylish boutique setting.
adorn boutique
Photo courtesy of Adorn

Frock Boutique

  • 1439 NE Alberta st
    • Store stocking clothing & accessories for women, men & kids made by local, independent designers.

Say Say Boutique

  • 1010 SW Morrison st
    • Intimate women’s fashion boutique featuring casual clothing from independent designers.

Monique’s Boutique

  • 429 NW 10th Ave
    • offering innovative clothing and accessories for women who value quality, style and comfort.
monique boutique
photo courtesy of moniques

Silver Lining

  • 7044 SE Milwaukie Ave
    • Women’s consignment shop specializing in brand-name apparel, shoes & accessories.

North of West

  • 203 SW 9th Ave
    • Hip, design-focused women’s shop featuring clothing, bags & jewelry, along with home accents.
north of west boutique
photo courtesy of North of West

We hope that enjoy all your holiday shopping! Did we miss your favorite place? Let us know in the comments!

Cascade Brewing

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This week we went and checked out Cascade Brewing! This sour ale brewery has so much variety we will have to go back multiple more times to try everything on the menu.

I love sour ales, so if you don’t this is likely not the place for you. They do typically have 3 or 4 non sour beers on the menu, but they are no where near as good as the sour ales. My favorite thing about Cascade is that they use fresh, local ingredients and truly experiment with their beers. I tried the Brunch Line, which is very Portland. Its a sour wheat ale that is aged in white wine barrels with willamette valley chardonnay grapes and orange zest. It does taste a bit like a mimosa.

We went during happy hour and were able to try both the pretzel with beer cheese, and the smoked albacore tuna melt. The pretzel was perfectly salted and toasted to perfection. The albacore sandwich isn’t your grandma’s tuna sandwich. With both cheddar and gruyere cheese, the sandwich was delicious and well balanced.

We will absolutely be heading back to cascade brewing for some beer very soon!

If you want to see the current offering of beers, you can see the menu here. or check out the full website

Do you have somewhere that you want us to feature? Let us know in the comments!!

Seller Closing Costs

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Today is all about closing costs and specifically about the closing costs sellers are responsible for. We made a great video for you to watch, but if you would rather just read along, skip ahead!

One of the most common mistakes that sellers make when it comes to listing their home, is failing to budget appropriately. I see this especially often when it comes to closing costs.

Sellers in Portland should expect to pay about 7% of the total sales price in closing costs. On a typical home priced at 500,000, a seller should anticipate allocating about $35,000 toward closing costs. That number is inclusive of most fees, however, it will vary depending on your specific situation.  If you have equity in your home, these fees will be deducted from your proceeds.  However, in some cases, a seller may be required to actually bring money to the closing table.  We don’t want this to happen to you. Here are my top 3 tips so we are fully prepared before listing your home.

Discuss the true cost of selling

Before you decide to list your property, meet with a local real estate expert. You want to discuss the true cost of selling your home. As a licensed Realtor®, I’m able to provide you with resources like a closing checklist and a seller net sheet. These will help you to better understand the home selling process, your responsibilities as a seller, and what you can expect to net from the sale of your home.

Budget for Closing Costs

Work with your Realtor® to understand and budget for Closing Costs. Sellers in the Portland market are typically responsible for paying; Commissions, mortgage payoff, title search fees, transfer taxes, city recording fees, unpaid property taxes, and any other liens that may be on the property. We want to have a clear idea of what these numbers add up to.

Factor in the unexpected

In competitive markets, it’s common for a seller to offer a concession toward a buyer’s closing costs.  This is done as an added incentive. As an example, it can be done after we may have had weeks of slow activity, or as a result of an issue that arises during a home inspection.  Often times, this practice can make your home seem more appealing to a buyer that may not otherwise have thought of buying your home because they didn’t have the cash to cover potential repairs or their own closing expenses.

Planning ahead will ensure that we both have a pleasant transaction together.  You will have a clear idea of exactly where you will be financially, and there won’t be any what-ifs left to think about.  If you have some questions or want any guidance, please feel free to reach out to me and I am happy to walk you through the specifics.  

Are you ready to see what your home is worth? Check the value now! Click Here

Belmont Station

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For our Hot Spot this week I visited Belmont Station over the weekend during a beer release event and we had the best time. This small bar is heaven for anyone who loves beer.

There are 2 sections to Belmont Station, one side is a very diverse bottle shop. They have all your favorites, some of their own favorites, and rare beers you have never heard of. They take very special care of the nearly 1,400 bottles to ensure they stay fresh. For anyone that appreciates beer, it would be very easy to spend a long time perusing the selection at hand.

The other side is the taphouse. You can choose a beer from their 34 draft tap list. They tend to serve beer mostly from the Pacific Northwest, but they also usually have on a European beer and a couple from elsewhere around the country.

The “beertenders” were incredibly knowledgeable, very friendly, and quick to get to you. All the beers we tried were perfect fresh and tasted brand new. I would definitely recommend checking out this incredible beer destination.

Want to see what they currently have on tap? Head over to thier website here

Have you been yet? What is your favorite beer or experience so far? We hope to hear from you in the comments!

Do you also love our Hot Spot Belmont Station? If you want to check out our other hot spots you can do that here

Portland’s Best – Steakhouses

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In a city that claims to be “one of the best for vegans” there are still many residents that love to enjoy a delicious steak. We have our fair share of places to get a perfectly seared steak so we wanted to share our favorites with you.

We love to support locally owned businesses so everything on this list is a true Portland steakhouse. Listed Alphabetically, here are our favorites!

Clyde's prime rib steak

Clyde’s Prime Rib

5474 NE Sandy Blvd
Portland, OR 97213

Website

Clyde’s keeps it old school. With a dimly lit dining room it brings us back to what Portland used to be. While the prime rib is reason enough to go, they also have many other cuts of beef that are sure to please. Clyde’s also offers live music in the bar overnight of the week.

Imperial PDX steak and sides

Imperial

410 SW Broadway
Portland, OR 97205

Website

Vitaly Paley’s wood fired restaurant, you will find tons of delicious cuts of meat on this menu. They have a trusty flat iron and ribeye always on the menu, and they frequently will pass out a specialty cuts list with the menus.

Laurelhurst market steak

Laurelhurst Market

3155 E Burnside St
Portland, OR 97214

Website

Laurelhurst Market is frequently named the city’s best steak house. Everyone that works here can give you the fine details about every cut of steak on the menu. They also serve them with wonderful accoutrement – like the pictured grilled flatiron with chanterelles and shrimp.

ox portland steak for 2

Ox

2225 NE Martin Luther King Jr Blvd
Portland, OR 97212

Website

This James Beard Award winning Latin American restaurant is all about the smoky flavors. There is a wood fired oven front and center in the restaurant which they use to cook all their steaks. The steak is served with the best chimichurri you have ever had and you can order a myriad of amazing vegetable sides.

portland city grill steak

Portland City Grill

30, 111 5th Ave
Portland, OR 97204

Website

This restaurant should be on your must visit list. The 30th floor restaurant offers panoramic views of the city. Whether you are a long time local, or a new visitor, the crew never gets old. They have a variety of steaks you can order from along with sauces and sides for your choice of beef.

urban farmer portland steakhouse

Urban Farmer

525 SW Morrison St
Portland, OR 97204

Website

This open-concept lobby/restaurant serves up some delightful steaks. You have a variety of options once you have chosen the cut of steak you’d like to enjoy. For example, you can have 8oz, grass fed, Oregon tenderloin, or you can have the 8oz, grain finished, California tenderloin.

We hope that you are able to get out and enjoy some of these great steak houses! Are you interested in seeing our other “Best of” lists? Check them all out here

Did we miss your favorite? Add it in the comments!

Feature Friday at Training Day

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This month for our Feature Friday we visited with Megan Marchello of Training Day PDX! She owns a barefoot gym in southeast Portland and did a great job of making us sweat in just a short amount of time.

We also learned a ton about how your stance, and how you treat your feet, will affect your whole workout. Check out the full video below!

Be sure to check out this awesome gym and support local business!

Do you have somewhere that you think we should visit? Let us know in the comments!