From Drab To Fab In Just One Day!

In an era where HGTV changed buyers’ expectations on how a house on the market should present itself, we knew that this house needed more than just a quick de-clutter to stand out in the crowd and attract a prospective buyer. To bring out the vintage vibe and hide the flaws in this southwest Portland mid-century ranch we needed some help -so we turned to a professional. Meet interior design genius – Justin Riordan, creative director of Spade and Archer Design. With his help this ranch went from drab to fab in just one day, and received a full price offer after just 3 days on the market!

To find out more about how our real estate team successfully markets and sells homes in the Portland area contact us at 503.497.5328 or visit my website at www.RuthPriceProperties.com

Check out more of Spade and Archer’s post and before and after photos of this transformation along with other projects at: www.Spade-Archer.com
9455 SW 62nd Dr, Portland OR

Hot Price Ranges In Portland Oregon – What Homes Are Selling

At them moment it’s hard to determine if what is reported in the media is fact, speculation or just plain theory. I hope these numbers shed some light on the ultimate question most people have right now – is anything selling out there?

If you are a buyer or seller in today’s market its crucial to look at factual information and base your decisions on good data as well as your goals – not any other “general” news reports.

 

Whatever side of the fence you are on, looking at what’s selling will identify trends and help forecast what you might encounter while in the real estate market.

 

SELLERS – If you have a marketable home in the “Hot Price Ranges” then your odds of finding a buyer with minimum time on the market are good.

 

BUYERS   If are searching for homes in the “Hot Price Ranges” then chances are that that you will most likely find a at market value but with increased competition for the great homes from other buyers.

 

Here is how sales for the month of January 2009 stack up along with the “Hot Price Ranges” for each area.

A note about the source of data - I am only taking into consideration residential family homes that have sold in the City of Portland only. All data used reflects property that has sold through a Realtor and comes directly from the Portland Association of Realtors. Though increasingly rare in this market these numbers do not reflect any homes that might have sold without a Realtor.
 

Total Homes Sold in City of Portland in January – 299

 

Southeast Portland – 121 homes

Hot Price Ranges

            $100,000-$200,000 – 51 homes

            $200,000-$300,000 – 46 homes

            $300,000-$400,000 – 17 homes

 

Northeast Portland – 85 homes

Hot Price Ranges

            $200,000-$300,000 – 30 sales

            $300,000-$400,000 – 16 sales

 

West Portland – 71 homes

Hot Price Ranges

            $200,000-$300,000 – 20 homes

            $300,000-$400,000 – 17 homes

            $500,000-Above    – 23 homes

 

North Portland   – 22 sold homes

Hot Price Ranges

            $100,000-$200,000 – 8 sales

            $200,000-$300,000 – 9 sales

Contact Ruth Price – broker with the Hasson Co. Realtors – for more information about the market, to find out your home’s value or with questions.

503.802.8845 or pricer@hasson.com

 

 

 

 

Positioning Your Home To Sell

 

High inventory of homes on the market is driving buyers to make more calculated decisions about which homes they will be making offers on. If you find yourself as a seller in 2009 here are some thoughts and tips to consider. The key to successfully selling your home this year is making it stand out from the rest not only by pricing it correctly but also through marketing and presentation.

 

PRICE YOUR HOME TO SELL

Recent Comparables Only – When determining a price for your home recent sold comparable homes are a good indicator of an approximate value. Use only comparables that are no older than three months. Using anything older than three months will most likely result in overpricing your home.

 

The Competition – Buyers are looking at everything on the market that fist their wish list and it would only make sense that you know what your home is competing against. Pay a visit to the homes for sale that will be competing with yours to see how your home measures up. Don’t fall into the “my house is better than theirs trap” – because buyers won’t. Be honest and willing to admit your homes’ flaws and adjust your asking price accordingly.

 

Price Well – The value of your home is determined mainly by what an able and read buyer is willing to pay for it in the current market. The goal is to have your home be the next one to sell the moment it hits the market. Now that you know the competition and the previous sales, price your home with that in mind.

 

IT’S ALL IN THE PRESENTATION

Fix & Repair – Give perspective buyers a sense that your home has been well maintained and that everything is perfect. Make sure everything works, doors and windows open and shut easily, none of the light bulbs are out, cabinet doors are not loose, etc… Do not forgo anything that is in need of repair no matter how small. Buyers will notice.

 

Model Home – Strive for perfection in the presentation of your home. If needed, the expense for professional help from a stager or interior designer to simplify, organize and stage your home costs less that you think and will be money well spent in the end.

 

Clean House – Your home must sparkle at all times while on the market -thus creating one of the biggest frustrations about having your home for sale. To help you stay on top, consider a house cleaning service that comes out on a weekly basis during the time your home is on the market. Have the windows cleaned, the carpet shampooed and the whole house deep cleaned prior to marketing the home.

 

MARKETING

Professional Only – Professional looking marketing materials and photos of your home are a must. Hiring a photographer to take high resolution photos of your home along with its’ special features is money well spent. This helps your home stand out when buyers are searching through high inventory.

 

Internet Is King – Over 90% of buyers start their home search on the internet. Make sure the marketing for your home focuses mainly on on-line exposure. The more on-line marketing your home has the better. You can forgo all print advertising since the returns are very minimal.

 

Showings – Be prepared to show your home on a moment’s notice. Being as flexible as possible increases your chances of selling. If time allows, prep your home for the showing by turning on all the lights, playing music and depending on the season turning on your fire place and water features.  

 

AT LAST

Reduce – If the home has been marketed correctly and there are no offers within 30-60 days and/or your competition has come down in price be prepared to reduce. The longer your home sits on the market the less money you will end up getting in the end.

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