Category Archives: 2018 REAL ESTATE FORECAST

Looking back at 2018 and ahead to 2019 in our Portland-Metro Real Estate Market.

December Residential Highlights
December brought cooling across the board to the Portland metro area. Pending sales, at 1,599, fell 9.0% short of the 1,757 offers accepted last year in December 2017 and 16.0%
short of the 1,904 offers accepted last month in November 2018.
Closed sales (1,846) fared similarly, ending 21.4% lower than in December 2017 (2,350) and 13.9% lower than in November 2018 (2,144). This is the coolest December
for closings in Portland metro since 2013, when 1,821 were recorded. New listings, at 1,255, cooled 22.4% from December 2017 (1,617) and 45.7% from November 2018
(2,310). Total market time rose to 64 days in December, with inventory decreasing slightly to land at 2.5 months.

Average and Median Sale Prices
Comparing 2018 to 2017 through December, the average sale price rose 5.5% from $428,700 to $452,400. In the same comparison, the median sale price rose 5.3% from $379,900 to $400,000.

Year to Date Summary

1-15-19 stats

Activity in 2018 was mixed compared to 2017. New listings (41,287) increased 1.2%. ending sales (29,809) decreased 4.9% and closed sales (29,771) decreased 5.9% this year.

The Portland-Metro real estate market is still a strong market but seeing some signs of slowing. In my opinion, it’s more of a balancing out. 2019 is expected to be a dynamic market and providing plenty of opportunities for both Seller’s and Buyer’s. For more information taking advantage of the opportunities please call, email, or text me.

Five Star award Winner 2011- 2019 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, Diversity Specialist-HOWNW, Earth Advantage Broker, MASTERS CIRCLE, CSA-Certified Staging Agent, Oregon First, Washington First

Direct 503.380.9634, Email- rachel@rachelsheller.com

View an accurate list of  ALL available Houses on the market on my website.

Licensed in the State of Oregon and Washington

My business is referral based.
If you’ve enjoyed my service, please refer me!

12 Home improvement goals to make this year

Image result for goals in the new year

12 Home improvement goals to make this year

Try to tackle one task each month to keep your home in great shape.

January: Change your HVAC filter.
Try to change your filter every 4-6 weeks to help your HVAC system run efficiently.

February: Wash the inside of your windows.
Use glass cleaner or distilled white vinegar on the glass. Dampen a microfiber cloth with warm water and dish soap to clean windowsills.

March: Change the batteries in your smoke detectors.
Do this at least once each year and test smoke detectors monthly.

April: Inspect your indoor plumbing.
Check for dripping faucets, leaks under sinks and water spots on the ceiling. Hire a plumber if you find any issues.

May: Paint a room.
Use canvas drop cloths to protect your floors and inexpensive paper or plastic ones to cover furniture.

June: Examine your home’s exterior.
Look for cracks in the driveway, holes in the siding, and tree branches or roots that are too close to your home. Call a professional for anything that needs attention.

July: Wash the outside of your house.
Power washers can damage your siding, so use a siding cleaning kit attached to a regular garden hose instead.

August: Treat for pests.
Hire an exterminator to treat for termites, spiders and other pests. Consider setting up a monthly or quarterly contract.

September: Clean the gutters.
Clear out leaves and debris. Have a professional inspect the gutters and downspouts for damage.

October: Inspect the chimney.
Hire a chimney sweep to clean and inspect your chimney, even if you don’t use the fireplace often.

November: Get organized.
Clean out kitchen cabinets and organize overflowing closets to prepare for the holidays.

December: Deep clean the floors.
Shampoo carpets and give wood floors a good cleaning. Check for exposed nails or boards that need to be repaired.

Five Star award Winner 2011- 2018 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, Diversity Specialist-HOWNW, Earth Advantage Broker, MASTERS CIRCLE, CSA-Certified Staging Agent, Oregon First, Washington First

Direct 503.380.9634, Email- rachel@rachelsheller.com

View ALL available Houses on the market on my website

Licensed in the State of Oregon and Washington

My business is referral based.
If you’ve enjoyed my service, please refer me!

The latest Portland-Metro real estate stats as of 12-18-2018

December 2018 market stats

November Residential Highlights

Portland saw some cooler activity this November. New listings, at 2,310, fell 4.4% short of the 2,416 new listings offered last year in November 2017 and 25.5% short of the 3,100 new listings offered last month in October 2018.

Closed sales (2,144) fared similarly, cooling 10.2% from November 2017 (2,387) and 12.1% from October 2018 (2,440).

Pending sales (1,904) ended 19.7% under the 2,371 offers accepted last year in November 2017 and 23.3% under the 2,484 offers accepted last month in October 2018. The last November with fewer pending listings was in 2013, when 1,827 offers were accepted.

Total market time rose to 57 days in November, with inventory increasing slightly to 2.8 months.

Average and Median Sale Prices

Comparing 2018 to 2017 through November of each year, the average sale price rose 5.6% from $429,000 to $453,100. In the same comparison, the median sale price rose 5.3% from $379,900 to $400,000.

Year to Date Summary

Activity so far in 2018 is mixed compared to 2017. New listings (39,974) are up 2.2%. Pending sales (28,290) and closed sales (27,786) are down 4.5% for the year so far.

Each City and neighborhood is different. For more information on your particular location please call,e mail, or text anytime.

Five Star award Winner 2011-2019 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, MASTERS CIRCLE, Earth Advantage Broker, Diversity Specialist-HOWNW, CSA-Certified Staging Agent, Oregon First, Washington First

Direct 503.380.9634, Email- rachel@rachelsheller.com

View ALL available Houses on the market on my website.

Licensed in the State of Oregon and Washington

My business is referral based.
If you’ve enjoyed my service, please refer me!

 

Are rising home prices beginning to level off?

prices leveling

Are rising home prices beginning to level off?

Economists who study real estate trends across the nation are starting to suggest that ever-escalating home prices, bidding wars and inventory shortages may begin leveling off.

“The signs are pointing to a market that’s shifting toward buyers,” reports the chief economist of Realtor  .com . “But in most places, we’re still a long way from a full reversal.”

It isn’t realistic to expect an overnight change in the current market trends. However, median home list prices were up 7 percent year-over-year this past August, according to the National Association of Realtors®, which is lower than similar year-over-year list prices in 2017 at 10 percent and in 2016 at 9 percent.

Another plus for buyers is the increasing number of homes on the market. At the end of the 2018 summer selling season, 18 of the 45 largest housing markets had an increase in listings over the previous year. This is a boon for buyers, who have been scrambling to find affordable listings and then often end up in a bidding war.

For more information on the current market status in your neighborhood please call, email, or text me.

Five Star award Winner 2011-2019 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, MASTERS CIRCLE, Earth Advantage Broker, Diversity Specialist-HOWNW, CSA-Certified Staging Agent, Oregon First, Washington First

Direct 503.380.9634, Email- rachel@rachelsheller.com

View ALL available Houses on the market on my website.

Licensed in the State of Oregon and Washington

My business is referral based.
If you’ve enjoyed my service, please refer me!

 

The value of homeownership

kids buying

According to the real estate data firm CoreLogic, it pays to be a homeowner.

Over the past year, the average equity in a home with a mortgage increased by more than $16,000 nationwide. That amounts to an average annual increase of nearly 12.5 percent.

Homeowners in California gained an average of $48,800, the highest increase in equity of the 50 states. Other highly competitive markets saw significant increases as well. Home equity in Washington rose an average of $41,100; in Nevada, $32,200; in Hawaii, $29,600; and in Massachusetts, $23,500.

Are YOU ready to earn equity in Oregon or Washington? Call, text or email me to get started.

Five Star award Winner 2011-2018 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, MASTERS CIRCLE, Earth Advantage Broker, Diversity Specialist-HOWNW, CSA-Certified Staging Agent, Oregon First, Washington First

Direct 503.380.9634, Email- rachel@rachelsheller.com

View ALL available Houses on the market on my website.

Licensed in the State of Oregon and Washington

My business is referral based.
If you’ve enjoyed my service, please refer me!

 

77% of Americans agree it’s a good time to sell

77% of Americans agree it’s a good time to sell

Escalating home pricesfor FB - Copy - Copy - Copy in the past few years have made many homeowners hesitant to sell, fearing they won’t be able to afford their next house. However, optimism may be on the rise.
A record-high 77 percent of Americans indicated that they believe now is a good time to sell, according to the third-quarter Housing Opportunities and Market Experience (HOME) survey. The National Association of Realtors® (NAR) says the rising confidence indicates a “healthy shift” in the market.
The HOME survey also asked homeowners and renters about considerations when choosing a new neighborhood. Approximately 70 percent of respondents said highly rated schools are “very” or “somewhat” important in choosing a home.

Two other key factors in neighborhood preference are its proximity to where friends and family live and its proximity to jobs with a short commute.

“When you buy a home, you do not just buy the house; you buy a community – neighbors, parks, stores, and schools,” NAR President Elizabeth Mendenhall says. “Realtors® understand the unique qualities of the neighborhoods in their area and can help individual families find and purchase the right home in the right neighborhood.”

Call me to get started !

Five Star award Winner 2011-2018 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, MASTERS CIRCLE, Earth Advantage Broker, Diversity Specialist-HOWNW, CSA-Certified Staging Agent, Oregon First, Washington First

Direct 503.380.9634, Email- rachel@rachelsheller.com

View ALL available Houses on the market on my website.

Licensed in the State of Oregon and Washington

My business is referral based.
If you’ve enjoyed my service, please refer me!

How the new tax law affects home equity debt

If you’re considering getting a home equity loan or home equity line of credit (HELOC), make sure you understand how the tax rules have changed.

First of all, it’s important to clarify that acquisition debt is when money borrowed against your home is used to buy, build or improve a primary or secondary home. Home equity debt is when the money is used for something other than your home, such as paying student loans or funding a business.

Under previous tax laws, taxpayers could deduct interest on home equity debt – no matter what the money was used for – as long as the total mortgage debt was below $1 million, according to Realtor.com®.

The Tax Cuts and Jobs Act suspends this deduction unless the loan is used to “buy, build or substantially improve” a home, according to the IRS. Acquisition debt is still tax deductible, but the total debt limit was lowered from $1 million to $750,000.

Keep receipts from your home improvement projects and consult a tax professional to help you navigate your specific situation.

Five Star award Winner 2011-2018 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, MASTERS CIRCLE, Earth Advantage Broker, Diversity Specialist-HOWNW, CSA-Certified Staging Agent, Oregon First, Washington First

Direct 503.380.9634, Email- rachel@rachelsheller.com

View ALL available Houses on the market on my website.

Licensed in the State of Oregon and Washington

My business is referral based.
If you’ve enjoyed my service, please refer me!