Tag Archives: www.rachesheller.com

Home-buying affordability rule

The 36 percent rule is a guideline for consumers to help determine how much money they can comfortably spend on monthly debt payments, according to NerdWallet.com. The rule is based on dividing monthly mortgage payments (principal, interest, taxes, and insurance) and other monthly debt (vehicles, credit cards and student loans) by gross monthly income.

For example, an annual household income of $89,000 divided by 12 months equals a gross monthly income of $7,417. The 36 percent rule means the maximum monthly spending on all household debt should be about $2,670.

While lenders use the 36 percent rule in evaluating mortgage applications, they also consider other factors such as the amount of cash available for the down payment and closing costs, the borrowers’ credit scores and the amount of unsecured debt.

When buying a home, rely on an experienced real estate professional who will ensure that you are making the best purchase for your current need and household budget.home-167734__340

To get started on your journey to home ownership please call, email, or text anytime.

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 properties 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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A low home appraisal can stall mortgage approval

What happens when a buyer and seller agree on a price, but then the lender’s appraisal comes back lower than the agreed-upon amount? Until the financing is approved, the deal can fall through. This is why you see the words “Contract Pending” on the agent’s yard sign.

Approximately 10 percent of real estate agents report on a monthly basis that a low home appraisal negatively impacted a sale, according to the National Association of Realtors®.

Here are some ways that sellers and buyers can protect themselves from a low appraisal.

Sellers

  • Before you list your property, pay to have an appraisal done. In a seller’s market where some buyers are making offers significantly above the listing price, sellers need to understand how critical the appraisal is to closing the deal.
  • Do your homework and use a qualified appraiser who has a membership designation such as SRA or MAI from the Appraisal Institute.
  • Be sure the appraiser is comparing your home to the latest data about homes just sold or under contract in your area. Also, highlight any improvements to your home or landscaping that may positively affect the selling price.

Buyers

  • Ask your lender to choose one name among 2 or 3 qualified appraisers that you recommend.
  • Meet with the appraiser when the inspection is being done, and ask questions about the process.
  • If you receive a low appraisal, follow up and ask questions. The appraiser or supervisor may have overlooked the newest information.

I anticipate this happening more in the future. For information on pricing your home, or buy strategically to do all possible to prevent appraisal woes, please call, email, or text me to talk more about it.

IT’S A GOOD LIFE!

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

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-    homesforyou@frontier.com

View a current list of ALL available Houses on the market go to my website

Licensed in the State of Oregon

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

 

Your offer has been accepted: what’s next?

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Learning that your offer for your new home has been accepted is one of the most exciting times in the purchasing process. But, that excitement can be short-lived if you are not prepared for what comes next. Here are a few things to do after your offer has been accepted:

Celebrate!
You found your new home. Don’t let the moment slip by without acknowledging this major accomplishment.

Communicate with your agent.
After the excitement settles, try not to panic when you see your to-do list. Your agent will guide you through the process. There are so many steps to take after an offer has been accepted, and unexpected issues can pop up. So, prepare yourself to maintain a positive mindset.

Closing considerations.
Prior to the closing, you’ll have to schedule inspections and appraisal, work out the cost of any necessary repairs, and confirm financing. Don’t worry, though, you are almost there.

Remember, an experienced real estate professional will be there every step of the way to help you with all the details. You’ll be unlocking the front door of your new home before you know it!

For more information on buying or selling a home, please call,e mail, or text Rachel.

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, Realtors

Direct 503.380.9634, Email-    homesforyou@frontier.com

View a CURRENT & ACCURATE list of ALL available Houses on the market on my website

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

Licensed in the State of Oregon and Licensed in the State of Washington

What is the appreciation in your location? Take a look!

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How does your area stack up? Keep in mind each City has many neighborhoods that are priced differently than the average. You can call me for a detailed estimated sale price for your home. Appreciation rates are in the positive numbers all across the board. West Portland may be a little sluggish on appreciation, but prices are generally higher in that location, so you can only increase so much….

Days on the market are looking good too. That is the time it takes to sell your home, on average. Even though we are in a sellers market still (but that is changing-more in another blog) you can still over price your home and it will sit on the market  longer, or worse, not sell at all.

This was a quick peek at the latest real estate numbers. For more information specific to you, please call, email, or text. I look forward to hearing from you!

IT’S A GOOD LIFE!!

Five Star award Winner 2011-2018 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-    homesforyou@frontier.com

View ALL available Houses on the market go to my website.

Licensed in the State of Oregon and Washington

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

 

 

 

Old house vs. new house?

old house, new house

Old house vs. new house?

One of the primary decisions for buyers is whether to choose a newer home or an older “fixer-upper.” The correct answer really reflects your personal preferences. Consider these questions:

Upfront costs: How much can you afford? You’ll probably pay more for a newer home, but that extra cost might be made up in the long term by not having to pay for repairs and maintenance on an older home.

Maintenance: Love it or loathe it? Older homes inevitably need repairs, replacements and upgrades. If you’re handy and enjoy working on projects around the house, then an older property may be just what you want.

Home design: Vintage or modern? In an older home, you get a sense of historic tradition and attention to detail. Newer homes tend to offer the latest and greatest trends, such as open floorplans and energy efficiency.

If you want the best of both worlds, consider buying an older home with “good bones” (foundation, plumbing, electrical) and renovating it, depending on your budget of course.

For more information on getting started please call, email, or text me.

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- homesforyou@frontier.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!

SELLING YOUR HOME ? How much is it worth?

Selling your home

Call or email today to get started. Together we’ll explore the possibilities in our ever-changing real estate market.

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-  homesforyou@frontier.com

View a current list of ALL available Houses on the market on my website.

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

Licensed in the State of Oregon and Washington

 

CLIENT TESTIMONIAL FOR RACHEL SHELLER

I have had the extreme good fortune to work with Rachel Sheller 3 times under 3 different circumstances.  I first encountered Rachel when she was representing the buyer as I was selling my parents’ home/property.  This was a rural property with an older home and some quirks as many rural properties tend to have. When issues came up which needed to be addressed, Rachel got right on the problem, came up with a way to address it and got the problem solved. I have never been so impressed with a realtor.  I had only had bad experiences with realtors in multiple transactions in the past and went into this sale with lots of skepticism. It sure made the emotional sale of my childhood home a lot easier, especially since she had brought a buyer who was perfect for the property.

I was so impressed with Rachel that I sought her assistance when looking for an economical place to buy for my daughter to live in and eventually for her to purchase. Given the very hot local real estate market, there was not a lot available, but she found a property which fit what we were looking for and in a very short period of time. When my daughter decided she would like to follow her dream to live in a foreign country, I again sought Rachel out to assist in sale of the same property. In spite of a less than cooperative HOA and an “interesting” buyers agent, she again problem-solved, had resources available to provide needed assistance with issues which were impairing the sale and helped get a swift sale above the asking price.

 

Rachel is professional through the entire home sales/buying process and shows true enthusiasm for her work.  She clearly knows the local market inside and out as well as the legal requirements in the real estate sales process. I could not be more impressed with the job she had done in these real estate transactions. On top of everything, she is just a great human being!

-Vereleta

 

Thank you Vereleta! I truly feel bless to of met you through unconventional ways, and to of had the opportunity to serve you and your family. I hope to continue to be of service to you and yours for many years to come.  

 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-  homesforyou@frontier.com

View a current list ALL available Houses on the market  on my website

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

Licensed in the State of Oregon and Washington