Real Estate Information

If you are enjoying my blog and want to get to my blog directly, you can now access it www.asksarita.net.  Easy access for information about real estate, Portland, and anything you might want to know about... Thanks for visiting my website and blog and I appreciate your business and support.

As part of my EA-STAR training, I learned of a cool tool that I wanted to share with you.  It calculates your ecological footprint, or how much land area it takes to support your lifestyle, and it factors things like your diet, your travel/driving habits, how many goods you use that require shipping, that sort of thing.  I was shocked at my results, and am using it as a baseline to try and make some positive (or should I say negative) changes to reduce the amount of area I take up...

Check it out and please let me know what you think... http://www.footprintnetwork.org/en/index.php/GFN/page/calculators/

I recently completed my EA-STAR certification.  This is a designation offered by the Earth Advantage Institute which says I am committed to understanding eco-friendly and sustainable building techniques and practices.

In the class we had an interesting discussion about "Green-ness" - the question was is it a trend?  My first inclination was no, green is here to stay, and there are different shades of green.  Whereever you are on the continuum, you can strive to be greener and keep getting better at making sustainable choices.  And vote with your dollars, i.e. purchase from companies that are committed to the same values you hold when it comes to being aware and as kind as possible to the planet we live on.

A colleague actually answered the question differently, and I agree with his answer.  Green is a trend, that is it is a newer concept that people are taking about and trying to understand.  And yes, some agents are marketing using this new trend.  So it is a trend, but it is not a fad.  Cell phones were trends too, like smart phones and flat panel TVs.  They are here to stay, unlike fads that come and go (disco and feathered hair come to mind!). 

I will add interesting resources and tidbits from time to time.  If you want to learn more about what I learned and if you have questions, call or email me.  I'd be happy to share my learnings so we can learn from each other!

The Portland area housing marketing is showing some signs of improvement.  Inventory has started to decrease, and it has decreased every month in 2009.

To look at inventory, we use a term called "inventory in months".  This is calculated by taking all the listings in MLS, and dividing them by the current monthly rate of sales for that month.  So, in essence, if there were no new listings, this is the number of months it would take to burn, or sell off, all of the listings.

To put this number in perspective, in our market about 6 months is a balanced market.  Greater than 6 months is a buyer's market, and less than 6 months is a seller's market.

From the chart above you can see July's decrease to 7.3 months (from June's 8.2 months) shows steady improvement - and it sure is a far cry from the 19.2 months in January!

Another interesting datapoint from the July market stats is the highlights chart, below.  The excitement to note is that closed sales for July 2009 were higher than July 2008 (by 8.6%) - this marks the first time closed sales have increased since April 2007.  Pending sales also went up from July 2009 to July 2008.  So the sales going up and the inventory going down is a sign that some much needed improvement in our housing market is under way.

With first-time homebuyers needing to close on a property by 11/30/2009 to take advantage of the $8,000 tax credit, everyone is scrambling to get pre-approved, look at properties, and make a run at something before time runs out.

Many folks call me looking for more information about what the tax credit is and isn't.  The following is an excerpt directly from the IRS:

First-time homebuyers may be able to take advantage of a tax credit for homes purchased in 2008 or 2009. The credit:

• Applies to purchases that close after April 8, 2008, and before Dec. 1, 2009.
• Applies only to homes used as a taxpayer's principal residence.
• Reduces a taxpayer's tax bill or increases his or her refund, dollar for dollar.
• Is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed.

Click here to read more and please note, I am not a tax advisor or real estate attorney.  If you want tax or legal advice, please call a CPA or attorney.

Whether I am in line at the grocery store or at a BBQ in the neighborhood, people want to know about the housing market.  I don't wear a Realtor nametag or anything, but those who know me or once we start talking about what we do, the curiousity and the questions begin. 

I often wonder what would happen if I didn't run into those people.  What would they do to get answers and who would they turn to?  Maybe they don't have a Realtor in their life?  Or maybe, and most likely, they want information but feel funny about "bothering" an agent to get information, knowing they are not interested in buying or selling right now.

Well, I am pleased to offer a "self-service tool" that lets you (or friends, colleagues, family, etc.) get periodic updates of market conditions in your area.  This tool is perfect for people who don't want to contact an agent but want information, and want it to be real-time.

Visit www.MarketSnapshotPortland.com to sign up and get market info the way you want it.  The market snapshot will be customized to your preferences and will be emailed to you right away.  It will then update you every 4 weeks or at a frequency more suitable for you.

Then, when you are ready to "bother" a Realtor or if you simply have questions, askSarita.com.  I am here as a resource for your real estate needs.  And I am happy to be bothered!

I am constantly surprised with the way the media portrays the real estate market.  Two things seem to be consistently true - 1) the media’s radar is on a national level, and 2) there is a lag between actual activity and the point at which it becomes a story and gets reported.  One bit of good news was a recent article about the best and worst real estate markets.  Portland, Oregon, ranked #4!  It was nice to see some positive news!  It says to me that we are in a good spot, and it seems to be getting better and better, too.  When it comes to news, get a local perspective.  It is all local.  If you have questions about your home’s value, call me and we can talk about what things are doing now, and revisit it semi-annually.  Read the article here: http://realestate.msn.com/article.aspx?cp-documentid=18080758.

The Street of Dreams this year is featuring Pearl condos.  Traditionally this annual show featured estate-type homes, all mansion-like in size and magnitude, with a flair for showcasing the latest bells and whistles that represent the latest and greatest in home construction, technology, eco-focus, and luxury livability features.  This year the tour is focusing condos and will highlight the strides made in green building. 

The 2009 NW Natural Street of Dreams “Views of the Pearl” opens August 1 and showcases four of Portland’s premiere condominium home developments, featuring nine incredible penthouses ranging in price from $1 to $2.5 million. With a focus on LEED standard and eco-friendly materials, the dream condos include the latest in home innovations and design, including wrap around balconies and hot tubs with a stunning city view. New to the show is the Pearl Pass, which is not only your ticket to the show, but also a savings card to over 80 Pearl area businesses.

Hope you enjoy it, and if you do go, please drop me a line and let me know what you thought. 

I can’t believe it is August 2009 and I am finally entering the world of blogging.  I don’t know what intimated me so much about it - whether it is the need to try and be hip and witty or the fact that I am not a great writer (both very true statements BTW)!  I think honestly I was afraid of the need to keep it fresh and updated.  I believe worse than not having a blog is having one with posts from 22 months ago and no other updates!

So, for now I will go for baby steps - update when I can, and strive to provide valuable information from my perspective as a Portland-based real estate agent.  Thanks for visiting, come back often and please let me know what you want to know about so I can make this something worth coming back to.  Thank you.

Welcome to my blog... this is a place you can come for information about the Portland Real Estate Market and any questions you have. Whether you want to know specifics about a property or buying or selling a home... or if your request is for a contractor referral or the pros/cons of remodeling, AskSarita. I am your real estate resource and I am here to help.