Tag Archives: Portland State University

Tips For Selling A Tenant-Occupied House

Image result for tenants in house

Selling a property while tenants are still living there creates a unique set of challenges. Depending on your relationship with your tenants, they could complicate the sale by not giving your real estate agent access to the home for showings. They also might not be motivated to keep the house in show-ready condition.

Be sure to discuss your plans with your tenants well in advance of putting up the for-sale sign. Be considerate of their housing needs and concerns about moving. Most Realtors® suggest that you give tenants 24-hours’ notice before a showing whenever possible.

Offering to hire a housecleaning service on a weekly basis would demonstrate your appreciation for your tenant’s cooperation. Or, you could reduce their rent slightly while the house is on the market. A little generosity can go a long way.

Five Star award recipient 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, Realtors

Direct 503.380.9634

Email- Homesforyou@frontier.com

View ALL available Houses on the market on my website

Licensed in the State of Oregon

***I’M ALWAYS HAPPY TO HELP YOU AND YOUR REFERRALS***

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Transform Your Yard Into An Edible Landscape

Image result for transform your landscape veggies

Lawns take up three times as much space as cornfields in the U.S., according to a study from NASA. All that real estate, plus the water and fertilizer required to maintain pristine yards, means that Americans spend a massive amount of resources on a “crop” that no one eats.

Over the past decade, “edible landscapes” have grown in popularity as some designers and homeowners are looking to transform “sterile lawns” into spaces that are both beautiful and productive. These re-imagined landscapes can range from small raised beds to full-yard takeovers, and they often include native perennials, fruit trees, herbs, and other food-producing plants.

It has been said that edible landscapes can have many benefits including producing fresh food for your family and community, increasing biodiversity, saving natural resources, and using less fertilizer.

Companies that offer edible landscaping often provide design, installation and maintenance services, plus many offer workshops or one-on-one mentoring so you can learn how to care for your new yard. These organizations often work with homeowners associations to make sure lawns are both productive and aesthetically pleasing.

If you’re interested in creating your own edible landscape, here are some of the best plants to consider:

·         Perennial herbs: Try sage, lavender, rosemary, oregano, mint, or thyme, which tend to attract fewer animals than annuals and biennials such as parsley, basil and cilantro.

·         Peppers and beans: Animals are most interested in the leaves of these plants, and taking a few precautions can limit any damage to the produce itself.

·         Edible flowers: While a fun, surprising addition to any salad, make sure you’re careful about what products you use to feed and spray your edible flowers.

·         Eggplant and artichokes: These are both beautiful and nutritious additions to your landscape and most animals will leave them alone thanks to their prickly leaves.

Five Star award recipient 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, Realtors

Direct 503.380.9634

Email- Homesforyou@frontier.com

View ALL available Houses on the market on my website

Licensed in the State of Oregon

***I’M ALWAYS HAPPY TO HELP YOU AND YOUR REFERRALS***

Are millennials slackers or geniuses?

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Millennials often get a bad rap for being unemployed, living with their parents, and putting off getting married or having kids, but, according to an article from Business Insider, there’s more to 18- to 30-year-olds than meets the eye!

  1. Millennials do most of their shopping in physical stores.  Sure, they are tech savvy and frequently shop online. But millennials haven’t completely abandoned stores and shopping malls. They like to touch and feel products before they buy them, and still appreciate the experience of shopping in a store. In fact, millennials still complete 54% of shopping in physical stores, according to the report.
  2. Millennials save more money than the national average. “Contrary to popular rhetoric regarding a highly challenged consumer who may be burdened with debt and living ‘paycheck to paycheck,’ our survey of millennials suggests the majority of the demographic (74% of total responses) saves money every month compared to 26% who do not,” the report says.
  3. Millennials are planning to buy homes. They are delaying home-buying and marriage and kids, but they are planning to get to those life milestones eventually. When asked what they are saving for, millennials said (1) a house, (2) a car, and (3) retirement.
  4. Millennials aren’t just relying on Uber and Lyft to get around. They are actually buying cars. Like with homeownership, many millennials have delayed purchasing cars. But car buying among this demographic is rapidly rising and will continue to grow, according to the report. About 64% of millennials plan to buy a car in the next two years, and most of those who don’t plan to buy a car already own one, according to the data. Only 5% of respondents said car-sharing services like Uber and Lyft serve as a replacement for owning a car.

 

Five Star award recipient 2011-2017 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, Diversity Specialist, HOWNW, CSA-Certified Staging Agent, Oregon First, Realtors

Direct 503.380.9634, Email- homesforyou@frontier.com

See ALL available homes at my website!

Licensed in the State of Oregon

***I’M NEVER TOO BUSY FOR YOU AND YOUR REFERRALS***

Lets make the most of this Oregon sun!!

 

silhouette of friends jumping on beach in sunset

Creative Ways to Use Sunlight

Solar panels aren’t the only way to harness the sun’s energy. Try these creative ways to use sunlight and cut energy costs while protecting the planet.

Skylights
This one might seem simple, but skylights have many hidden benefits. If you love the ambiance of natural light, a skylight provides ample illumination with privacy that windows facing your neighbors do not. This energy-efficient window allows you to ditch the light switch and save on electricity.

Solar backpack
Low battery shouldn’t keep you from enjoying the outdoors. The ECEEN Solar Backpack allows you to hike, bike and enjoy sunlight while your backpack stores energy. The ECEEN Solar Backpack utilizes high-efficiency solar cells to provide power for your phone, GPS system or MP3 player.

Outdoor clothesline
Give your dryer a rest and hang your clothes in the yard. As long as the temperature outside is above freezing and it’s sunny, your clothes will be just fine on the line. Use clothespins to make sure laundry doesn’t blow away, and give it a few hours to dry. Once clothes are dry, use a steamer or the air-tumble cycle on your machine to get any wrinkles out, while still reducing energy usage.

Mood booster
Without enough sun exposure, serotonin levels in the body can drop. Low serotonin levels can be linked to Seasonal Affective Disorder (SAD), which is a form of depression caused by seasonal changes in weather and sun exposure. Phototherapy, or exposure to the sun, can help boost your mood.

 

Five Star award recipient 2011-2017 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, Diversity Specialist, HOWNW, CSA-Certified Staging Agent, Oregon First, Realtors

Direct 503.380.9634, Email- homesforyou@frontier.com

See ALL available homes at my website!

Licensed in the State of Oregon

***I’M NEVER TOO BUSY FOR YOU AND YOUR REFERRALS***

 

PORTLAND’S NEW REQUIRED ENERGY AUDIT FOR SELLERS IN PORTLAND STARTING JANUARY 1, 2018

PORTLAND’S NEW REQUIRED ENERGY AUDIT FOR SELLERS IN PORTLAND STARTING JANUARY 1, 2018

If you live in Portland, and are thinking of selling in 2018. This is information you need to know. Below is information regarding the City of Portland’s energy audit mandate. THIS IS REQUIRED IF YOU SELLER AFTER 1-1-18 in PORTLAND

On January 1st, 2018, a new rule will go into effect requiring sellers of homes within the Portland city limits to:

  • Obtain a home energy performance report, including a home energy score, from a licensed home energy assessor.
  • Provide a copy of the home energy performance report to all licensed real estate agents working on the seller’s behalf.
  • Include the home energy score and the attached home energy performance report in any real estate listings.
  • Provide a copy of the home energy performance report to prospective buyers who visit the home while it is on the market.
  • Provide a copy of the home energy performance report to the City of Portland for quality assurance and policy compliance. The energy efficiency industry has developed scores and labels for building energy performance, but their use has not been widespread. Requiring home energy scores is one of the policy tools the City has available to catalyze change in the residential sector. Energy Trust of Oregon, in partnership with non-profit lender Craft3, now offers a moderate income energy upgrade financing program. There are also new specialized energy efficiency mortgage products available exclusively to buyers of homes that have a U.S. Department of Energy Home Energy Score.
  • Does this policy affect housing affordability?
  • In today’s market, it costs between $150-$250 to obtain a home energy performance report. The policy does not require upgrades. According to Home Mortgage Disclosure Act data for Multnomah County, the majority of people transacting in the real estate market – almost 80 percent – are not low income. In many instances, these buyers are paying a premium for Portland homes. The modest cost of acquiring the score will be a very small line item in the total transaction. The City is working on solutions to cover the cost of the home energy report for low income-qualified sellers.

    An information policy requirement like home energy scoring will not constrain the supply of affordable housing. Housing affordability is primarily a function of supply and demand. The City currently faces a shortage of housing options, especially affordable housing, and is helping to increase supply through zoning and direct investment in affordable housing. The requirement, however, will help those buyers understand the full costs of home ownership, including energy cost?

  • What is a “home energy performance report”?

    A home energy performance report is defined in Oregon Revised Statutes 469.703 and 469.040 and in Oregon Administrative Rule OAR 330-063-0000, and includes the following information:

    • A score and an explanation of the score.
    • An estimate of the total annual energy used in the home, by fuel type.
    • An estimate of the total monthly or annual cost of energy purchased for use in the home, in dollars, by fuel type.
    • The current average annual utility retail energy price, by fuel type. 
  • Is the City proposing any exemptions, waivers or deferrals to the policy?

Yes. There are a limited number of circumstances in which the home energy score policy does not apply. These exemptions are listed below. Note that if a sale is transacted without ever going on the market publicly, the home energy score requirement is not triggered.

General Exemptions

  • A foreclosure sale.
  • A trustee’s sale.
  • A deed-in-lieu of foreclosure sale.
  • Pre-foreclosure sale in which seller has reached an agreement with the mortgage holder to sell the property for an amount less than the amount owed on the mortgage.
  • The property qualifies for sale at public auction or acquisition by a public agency due to arrears for property taxes.
  • A court appointed receiver is in control of the asset due to financial distress.
  • The senior mortgage is subject to a notice of default.
  • The covered building has been approved for participation in Oregon Property Tax Deferral for Disabled and Senior Citizens.
  • Equivalent program as determined by the Director.

Low-Income Exemptions

Low-income sellers may be exempt from compliance with the home energy score policy. Sellers may qualify for an exemption if any one of the following apply:

  • Demonstrated household income is at or below 60 percent of median household income for the Portland-Vancouver-Hillsboro, OR-WA Metropolitan Statistical Area.
  • Low income seller is approved for participation in Oregon Low-Income Home Energy Assistance Program.
  • Low income seller is approved for participation in Free and Reduced Price Meals through Oregon Department of Education.
  • The responsible party is otherwise unable to meet the obligations as determined by the Director.

As the implementation date for the policy gets closer, BPS will post further information here about the steps for obtaining an exemption. BPS intends to make this a quick and easy notification process that will

What is a “home energy performance report”?

A home energy performance report is defined in Oregon Revised Statutes 469.703 and 469.040 and in Oregon Administrative Rule OAR 330-063-0000, and includes the following information:

  • A score and an explanation of the score.
  • An estimate of the total annual energy used in the home, by fuel type.
  • An estimate of the total monthly or annual cost of energy purchased for use in the home, in dollars, by fuel type.
  • The current average annual utility retail energy price, by fuel type. The City will spot-check a variety of listing services, including RMLS, Craigslist, home sales apps like Zillow, Trulia and Redfin. We will cross-reference this information with the City’s public database of disclosed scores and County Assessor records. The City intends to monitor and evaluate the policy’s performance within 30 months of the effective date of the policy. The evaluation will include but is not limited to accuracy of disclosed information, rates of compliance, other program impacts and recommendations for ongoing review. If evaluation suggests widespread lack of compliance, then the penalties may come into fuller effect. The proposed effective date for the policy is January 1, 2018. Rulemaking is proposed to begin in July, 2017.ADUs that are part of the primary residence will automatically be captured in the home performance energy assessment, which is based on all the rooms within the outer envelope of the home. Detached ADUs will not be covered by the policy. The policy would apply to all single-family homes sold within Portland city limits. The City of Portland will receive the home energy performance report from the seller and will make the information available to the general public through Portland Maps. As of July 2016, the market rate cost to obtain a home energy performance report is between $150-$250. This is the cost of having a trained, certified home energy assessor conduct a 45-minute, in-home assessment and generate the report based on the data gathered from the home visit. The information obtained through a home energy assessment goes beyond a typical home inspection, including a review of the home’s mechanical systems, insulation, air sealing and opportunities for cost-effective energy efficiency upgrades. Sellers pay a private-sector home energy assessor for the cost of the home energy performance report, not the City. Home energy scores are a market-based solution for making home energy performance more transparent in the home buying process.
  • What software tools will be eligible to produce a score in Portland?  The U.S. Department of Energy’s Home Energy Score tool supplies the energy data as required by HB 2801 for a home energy performance report. The report includes a score that is a number on a scale from one to ten, where ten represents a more energy-efficient home and five is the performance of the average home. This number provides an easy-to-understand reference point for the comparison of energy performance between single-family homes.
  • Like miles-per-gallon labels for cars, the Home Energy Score is an asset rating, which is based on how the home is built, not how the home is used. An asset rating considers the structural characteristics and large equipment in a building. Asset ratings rely on a home energy assessment, which includes an on-site inspection. Asset ratings provide the homeowner and perspective buyers with the ability to identify:
  • The City will align with tools and software that are compliant with Oregon House Bill 2801, which became law in 2013 and gives authority to the Oregon Department of Energy (ODOE) to approve home energy scoring tools in Oregon. The City will provide temporary waivers to homebuilders using software tools that do not meet the Oregon standard, including new homes with Energy Trust of Oregon Energy Performance Scores (EPS) or Home Energy Rating System (HERS).
  • Experience from Austin, Texas suggests that as the volume of home energy assessments increases, the retail cost of the assessment declines. The cost of a home energy performance assessment in Austin is currently stable at $125.
  • When will the policy take effect?
  • The City does not intend to impose penalties for non-compliance initially. However, the draft code language includes a provision that allows the Director to assess a civil penalty of up to $500 after 90 days of non-compliance and another $500 for every 180 days out of compliance thereafter.
  • Thank you Oregon first for your article and good information. For the entire article please call me and I’ll send you a link.  If you would like more information, please call, email, or text me anytime.

Five Star award recipient 2011-2017 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

Diversity Specialist, HOWNW, CSA-Certified Staging Agent

Oregon First, Realtors, Direct 503.380.9634, Email-    homesforyou@frontier.com

View ALL available Houses on the market visit my website

Licensed in the State of Oregon

***I’M NEVER TOO BUSY FOR YOU AND YOUR REFERRALS***

LATEST PORTLAND/METRO RE STATS

September Residential Highlights

months-of-inventory-10-13-16

The Portland/Metro area saw some clouds roll in our real estate activity this September 2016.

Pending sales (2,857) fell 3.8% short of September of last year (2,971) and 14.1% short of the 3,325 offers accepted last month in August 2016. This is expected as the market tends to cool a bit right after the school season starts. The swing of the market does lend itself to a further cooling. It is still very strong seller’s market, but sellers are having to try a little harder for the sales, as we are seeing an increases of “fail sales.” You will begin to see this a little more with more frequent price reductions, if a home is a priced a little on the high side in the first place.  Buyers are still making offers in high numbers on homes that are very competitively priced. Consequently, the total market time increased by only one day, climbing to 35 days.

Average And Median Sales Prices; Prices continue to rise in the Portland metro area. Comparing 2016 to 2015 through September, the average sale price rose 11.4% from $352,500 to $392,600. In the same comparison, the median sale price rose 13.1% from $305,000 to $345,000. Even though the prices have rose (The September numbers were coming off the HOT summer selling season) we are currently in the middle of a slight adjustment. Prices cannot continually increase in price by 11 % every month. It wouldn’t be long before no one could afford a home. I think we will see more modest increase in sales price and the buyers becoming more picky.

Please call, email, or text me if you would like to talk about selling your home and/or buying in todays market. I would love the opportunity to talk with you.

Months of inventory; What it means 

A quick gauge of the health, and swing of the real estate market is done by looking at the months of inventory on the market. Six months of inventory is considered a healthy, balanced market.

0-5.5 months of inventory- Seller’s Market

6.5 months on up of inventory- Buyer’s Market 

The very latest numbers sit us at 2.0 months of inventory. We are in a Seller’s  Market. We have been in a sellers’ market for well over 3 full years. Our numbers are on the rise. I expect a higher number next month.

 Five Star award recipient 2011, 2012, 2013, 2014, 2015 & 2016 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

Diversity Specialist, HOWNW, CSA-Certified Staging Agent

Oregon First, Realtors, Direct 503.380.9634, Email-    homesforyou@frontier.com

View ALL available Houses on the market on my website 

Licensed in the State of Oregon 

***I’M NEVER TOO BUSY FOR YOU AND YOUR REFERRALS***

    My business is primarily based around referrals
from my clients.  If you or someone you know is
thinking about buying or selling real estate,
please feel free to pass along my information
or just let me know!

 

PORTLAND/METRO MOST CURRENT REAL ESTATE STATS & NUMBERS

house with picket fence

October Residential Highlights

October brought some cooling to real estate activity in the Portland metro area, but pending sales were still on the rise this was the strongest October for pending sales in the area since October 2005. Inventory in the Portland metro area decreased slightly in October to 1.8 months. Remember 6 months is considered a balanced market. Anything under 6 months is considered a sellers’ market and above 6 months is considered a buyers’ market. We are in a STRONG sellers’ market right now. We have actually been in a sellers’ market for well over 3 years.

Total market time in holding steady at 46 days (Time it takes to get an accepted offer on your home).

Sale Prices and the Future of Real Estate

Prices continue to rise. The median sale price rose a whopping 7.0% for all areas (All neighborhoods are different-for your call, email or text me).

The interest rates are still very low making it affordable to purchase even though the prices are rising. The economic forecasts I have heard say we are in in for another year of increased prices!

This is very good news people! If you are waiting to make a more or wished you would of done it before the crash NOW is the time! Call, email, or text me for information on selling or buying residential property. You’ll be glad you did!

Five Star award recipient 2011, 2012, 2013, 2014, 2015 & 2016 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-Oregon First, Realtors

Direct 503.380.9634 Email-    homesforyou@frontier.com

View ALL available Houses on the market @ my Web Site-