Tag Archives: rachelsheller

Almost 40% of U.S. homeowners are mortgage free!

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More Americans are living mortgage-free. This article by Shelly Hagan will show you how.

About 37% of U.S. households are “free and clear,” meaning they no longer have a home mortgage to pay, according to a Zillow data analysis. This number ticked upward after the Great Recession and over the past 10 years, the share of homeowners paying off their mortgages has risen 5.5 percentage points.

“In general, higher home equity is financially preferable and the rise in mortgage-free ownership is in line with brighter economic conditions, which is why we’ve seen the free-and-clear share increase over the last decade,” said Javier Vivas, director of economic research at Realtor.com.

An aging population and change in owner demographics is another reason for the increase, according to Zillow. Younger Americans are likely to wait longer to a buy a home due in part to rising living costs and student debt. As a result, older Americans comprise a larger share of total homeownership and have had years to pay off a home as well as build wealth. This trend could reverse as younger generations age and enter the real estate market.

Trade-offs associated with paying off a mortgage include abrupt changes to the value of the home and the opportunity cost of other higher investment returns when mortgage rates are low, Vivas said.

Mortgage characteristics vary by state and those with lower housing prices typically have higher rates of fully-paid mortgages. In 2017, the most recent available data, West Virginia had the highest share of “free and clear” ownership at 54%. Maryland and the District of Columbia were on the other end of the spectrum with rates of 27% and 24%, respectively.

Over the last decade, the median price of an existing home in the U.S. has increased by more than 60% — or an addition of more than $100,000 in equity for homeowners without a mortgage.

Zillow analyzed data from the American Community Survey, which occurs annually and includes about 3.5 million responses. The Bureau of the Census also runs the American Housing Survey (AHS), which looks at mortgage characteristics. While the upward trend in “free and clear” homes is evident in both surveys, the AHS suggests the rate is higher — at 40% of total owner-occupied units. The AHS is conducted every other year and covers a smaller sample size of 115,000 units.

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 this 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!

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1 Level Living At It’s Finest In Argay Terrace! Move In Ready! Asking $384,999

3860 NE 143rd Avenue Portland, OR 97230

Asking $384,999, RMLS# 19193754

1 level home kept in pristine condition. 3 good sized bedrooms, 2 ½ bathrooms, 2 car attached garage, central air, .17 Acre  corner lot, private fenced back yard with serene & mature landscaping,  18 X 12 covered patio, sprinkler system, and potential for smaller RV parking. Beautiful Kitchen was completely remodeled featuring all appliances, soft close drawers, pantry, eating bar, eating area & so much more! Fabulous family room with fireplace & solar tube. Spacious master suite with GORGEOUS remodeled bathroom with mini step into shower, plus walk in closet. Your gonna love the Argay neighborhood! For more information, photos and virtual tour go to my website.

RACHEL SHELLER
Principle Broker,Realtor,CRS, ABR, GRI, SRES, CSA, HOWNW, MASTERS CIRCLE, Five Star award 2011-2019, Oregon First Realty
Direct-503-380-9634 rachel@rachelsheller.com

Metro Areas With Significant Home Appreciation

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For most Americans, the home they own is their largest investment and most valuable asset. These 10 metro areas have some of the highest home appreciation percentages over the past five years, reports Realtor.com®.

1.     Santa Maria, CA – 95 percent

2.     Nashville, TN – 89.4 percent

3.     College Station, TX – 85.3 percent

4.     Charlotte, NC – 82.9 percent

5.     Omaha, NE – 73.5 percent

6.     Grand Rapids, MI – 72.5 percent

7.     Fort Wayne, IN – 67.9 percent

8.     Columbus, OH – 66.4 percent

9.     New Orleans, LA – 62.4 percent

10.  Lexington, KY – 61.7 percent

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 this 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!

Terrific Tri-Level with potential for second living area $329,999 RMLS#19131229

16939 SE Kelly Street Portland, OR 97236

Asking $329,999 RMLS# 19131229

Terrific Tri-Level home situated on a corner lot in a great Portland Neighborhood. 3 full bedrooms with bonus/4th bedroom, 2 bathrooms, big 19 X 12 family room, and potential for RV parking. Lower level might be used as second living are? In 2012: new roof, siding, windows, wall insulation, exterior paint and kitchen update (new flooring, counter tops, back-splash and appliances). Back yard is fenced and feels a private oasis! Welcome home! For more information go to my website.

IT’S A GOOD LIFE!!

RACHEL SHELLER
Principle Broker, Realtor,CRS, ABR, GRI, SRES, CSA, HOWNW, MASTERS CIRCLE, Five Star award 2011-2019, Oregon First Realty
Direct-503-380-9634 rachel@rachelsheller.com

Big 4 Bedroom, 3 Baths, 3 Car Garage Gorgeous Gresham Home $419,999 RMLS# 19647189

112 SE Anderson Lane Gresham, OR 97080 Asking $419,999 RMLS# 19647189

This beautiful contemporary 1996 year built home is situated in one Gresham’s very finest neighborhoods. This spacious home has 4 bedroom, 3 full baths, 3 car garage, corner lot, HUGE master w/walk in closet, vaulted, jetted tub, double sinks & french doors. Brand new flooring in lower bath. Large kitchen with new flooring, eating bar, eating area, gas cook top, all kitchen appliances included, pantry, newer quartz counters & back splash. new roof/gutters/gutter guards/exterior paint in 2018. Just a block away is a great Green-space, a few blocks away to Powell Valley grade School. This home is in excellent move in condition. 4 full bedrooms or 3 bedrooms plus an office-your choice, 3 full bathrooms, 3 car garage, corner lot, open & bright floor plan. Fenced back yard. Your gonna love this one!!

For more info, photos, or virtual tour please go to my website.

IT’S A GOOD LIFE!!

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

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 this 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!

White Walls? Positive or Negative?

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Fresh, crisp white walls have always been popular, but keep in mind that all whites are not the same. Depending on the natural light that flows into the room as well as the interior lighting used at night, the color white can change from warm and inviting to cold and stark.

Here are three points to consider before painting your walls white.

1.     Avoid that sterile hospital look
White is associated with cleanliness, which is why many kitchen and bathroom walls are painted white. However, white walls paired with white trim and white cabinets can seem boring and sterile. Creating some texture on the walls with paintable beadboard wallpaper can increase the visual appeal of the room.

2.     Classic, formal and refined
The age of your house as well as its architectural style may create the “need” for white walls. For example, houses that are decorated with antiques and more formal furnishings often draw attention to the interior decor by having a neutral white background. Ultramodern houses with dramatic architectural lines and curves also appear more prominent against simple white walls.

3.     White expands spaces
White walls make rooms appear larger and lighter. Small bedrooms, baths and closets can benefit from this optical illusion. It’s also valuable to keep white in mind when you’re getting your house ready to sell and want to make the best impression on potential buyers.

For more information please call, email, or text.

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 this 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!

Home Flipping Can Be Highly Profitable

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During the Great Recession (2007-09), many properties lost equity as the housing market began falling. Short-term investors then started buying up properties that had fallen into foreclosure in order to flip them at a profit.

By contrast, flipping houses in today’s seller’s market is all about buying fixer-upper properties, making improvements and then reselling them to millennials and other first-time buyers.

Since the data firm CoreLogic first began tracking quarterly statistics on home flipping in 2002, the highest rate of home flipping as a percentage of all residential properties sold occurred during the first quarter of 2018 at 11.4 percent.

This upward trend continued last year with a higher rate in the fourth quarter than any previous fourth quarter – reaching almost 10.9 percent of all home sales. This marked the culmination of 12 consecutive quarters with residential flipping rates increasing on a year-over-year basis.

While flipping rates as a percentage of all homes sold vary widely across the U.S., the numbers tend to be highest in the Sun Belt. Eight of the top 10 metro areas are located in the southern half of the country: Birmingham, AL; Memphis, TN; Tampa, FL; Las Vegas, NV; Camden, NJ; Phoenix, AZ; Palm Bay, FL; Philadelphia, PA; Lakeland, FL; and Atlanta, GA.

Most of the metros where flipping has the highest rate of return on investment (ROI) are in areas that have a significant number of older homes to flip: Detroit, MI; Philadelphia, PA; Pittsburgh, PA; Cleveland, OH; Akron, OH; Baltimore, MD; Buffalo, NY; Wilmington, DE; Toledo, OH; and Milwaukee, WI.

IT’S A GOOD LIFE!!

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

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

Direct: 503.380.9634, Email- rachel@rachelsheller.com

View this 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!