Category Archives: Coaching for Buyers

How are you doing in this real estate market?

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Our neighbor states in The West have been known for their high market volatility, yet we know that here in Portland our markets are characterized more by slow, steady and small changes. Have a look at our recent report.  statistics-by-zipcode

We show you the real statistics about your own neighborhood in charts of homes sale values by zip code for the last four years for many of the areas of Portland that we know matter to you. There are some ups and some downs, but the high volatility we associate with the busting of the housing bubble is not the reality of our Portland area. The information comes from sold data from the RMLS and may not include sales that were done privately.

If you are interested in our report, please contact us with a request and we will send it on. Or, if you have received our report and want more information, or want to learn about a zip code or area that is not included, that’s another good reason to get in touch. .

In recent conversations, many of our friends and clients have asked how we are doing in this credit crisis. While the current market has brought us significant challenges, we are managing through it. We have worked with several buyers recently for whom new loans could have been a challenge, but we have sourced stable lenders with programs that have enabled us to do some loans with 5% and 10% down payments. Credit is available if properly documented and sourced with good lenders. Additionally, we are working with a number of buyers who see this part of the economic cycle as an opportunity to be exploited and they are actively seeking the right property at advantageous terms.

For our sellers we are doing our best to promote properties – especially online, where most buyers are looking – with quality photos and virtual tours and we recommend staging or top notch condition for all showings. We are advising sellers to do everything possible to prepare their homes to ‘shine’ compared to the competition and to price them to be positioned strategically and offer value relative to other homes for sale. We keep our sellers informed about market activity and buyer feedback with weekly reports as we know good communication and information is essential for all of us to make important decisions about how to take care of business today.

We have great properties for sale – and if you see anything on our website that may be of interest to you or a friend of yours, just let us know how we can help.  503-416-4177

Becky

Buy NOW First Time Home Buyers!

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Although the headlines would lead you to believe that credit is no longer available for first time home buyers, the Jackson Group has helped a number of first time home buyers this past summer -  working though the challenges to reach a happy closing with each client.

There are misconceptions about the market these days, the first being that first-time home buyers no longer qualify for a loan. Au contraire!  This summer, we helped 4 first-time home buyers purchase their first home. Each buyer had a down payment and the sellers helped out with the closing costs. In the end, the buyers are enjoying pride of home ownership,  lower prices, low interest rates and a quality home in a desirable area. They are also going to benefit from a $7500 tax credit for 2008 for first time home buyers only. What a deal!

Our buyer clients found deals that were NOT foreclosures. Distressed properties are not always the best place to look for a deal.  Many individual sellers have the capacity to accept an offer lower than their asking price. The truth is, most sellers active in this market are aware of the new dynamic in prices and are willing to accept less for their home than they would have last year.

Our advice to buyers in this market is to get your finances in order- talk to a mortgage broker (and class us if you want a good referral) and learn what you can afford today.  See if the picture today makes a difference, and if so, buy now! Prices are low and interest rates are lower and there are many good homes on the market in Portland to choose for your own.