Monthly Archives: November 2011

Meriwether 404 – SOLD!

Posted on by
Reply

Buyer's Agent, Buyer, Seller, Seller's Agent, Escrow

There are some real estate transactions that just come together and move smoothly from start to finish.  Such is the case with the recent Jackson Group listing sold at the Meriwether in South Waterfront.  Real estate is not easy these days, even when the stars are aligned, and this one was not special in that way.  There were challenges.  Challenge #1:  the sale might have been a “short sale” except for the fact that the seller was willing and able to write a big check to his lender.  Challenge #2:  negotiations were long and deliberate, back and forth, and though this is normal today, being normal does not mean that the outcome is mutually satisfactory.  Challenge #3:  every deal these days has its share of complications – the condo certification, the appraisal, the inspection, the HOA issues, the insurance . . . we take all this in stride as Realtors and do what we must, and our clients find it an endless series of “issues” that we help them get through.

The uncommon outcome here is that both the buyer and the seller achieved their goals and were satisfied with the outcome.  The seller was “short” though willing to write the check, have the sale and move forward.  The buyer was careful and wanted a “deal” and came to a resolution that was energizing.  Mutual Acceptance was also mutual satisfaction!  The brokers knew each other from a prior transactions and have mutual respect.  They worked for consensus.  Goals were reached by all.

Achieving everyone’s purpose was not done because a buyer took advantage of a seller.  She didn’t.  And it was not because the seller made a killing.  He didn’t.  It is because they each kept their personal “big picture” in mind throughout the process and appreciated the other side along the way.  The brokers kept the lines of communication open and moving forward, helping the clients navigate the complicated and emotional process with willing cooperation.

It’s not everyday that we see group hugs at the closing table.  The Jackson Group is grateful for the many terrific people we work with everyday, all year, selling homes in Portland.  To each one of them we say “Happy Thanksgiving” and Thank you!

Becky, Matt, Sarah and Hillary

Becky Jackson’s Market Review by Zip Code

Posted on by
Reply

It’s the season of “economic forecasts” for the coming year, and I have been attending and listening.  The report is that our national and local economies are, in fact, in recovery – even though we cant tell. The trend is positive, but with a very flat curve.  No surprise in this, and yes, the segments of the economy that are the drag are housing and unemployment, each tightly related to the other.

Hearing all this I thought it was appropriate to take a look at real data for housing in our neighborhoods.  I am attaching the most recent reports for our most active zip codes so that you can check your own neighborhoods and those around you click here.  We will, as before, have a complete year-over-year comparison at the end of the year.  And please let us know if you would like a more detailed report emailed to you that includes specific information about your zip code.

What I observe from the attached charts is that we are, really, seeing a stabilization of home values in many areas of Portland.  The Jackson Group works all over the metropolitan area with a focus on “inner” area neighborhoods.  I see in the graphs for these inner area zip codes a flattening, and in some cases, upturn in home values.  Our multiple listing data shows us that Portland overall has an average price decline of 4.2% for the 12 months (September to September) but the “for sale” inventory has dropped to the 6-7 month range, which is very close to market equilibrium.  Looking at closer in neighborhoods that inventory level is even lower, producing the “opportunity” for price strength to return.  I believe when we get a 12 month cycle that does not include last winter we will see a price appreciation statistic that reflects a lower rate of decline that the –4.2% we have now.

The Jackson Group has experienced a outstanding year compared to any since the bubble burst.  Today’s real estate market is one that requires knowledge and a culture of care.  We attribute our success to our ability to deliver excellent service at competitive rates (especially when you consider that you get 4 accomplished people on the team compared to the market standard of the lone ranger realtor)!  More importantly, we are focused on leading our clients and our colleagues with better knowledge, accountability, innovative approaches along with our strong team culture in order to help our clients get to the solution they seek.

As you meet and greet your friends and associates through the upcoming holidays, and the subject of real estate comes up (as it always does) we ask you to remember the Jackson Group as your “go-to” resource.  We are here for you!