If one of the goals on your list is selling your house and making a move this year, you’re likely juggling a mix of excitement about what’s ahead and feeling a little sentimental about your current home.
A great way to balance those emotions and make sure you’re confident in your decision is to keep these three best practices in mind when you’re ready to sell.
1. Price Your Home Right
The housing market shifted in 2023 as mortgage rates rose and home price appreciation started to normalize once again. As a seller, you still need to recognize how important it is to price your house appropriately based on where the market is today. Hannah Jones, Economic Research Analyst for Realtor.com, explains:
“Sellers need to become familiar with their local market and work closely with a local agent to make sure their listing is attractive to buyers. Buyers feeling the pressure of affordability are likely to be pickier, so a well-priced, well-maintained home is the ticket to drumming up big demand.”
If you price your house too high, you run the risk of deterring buyers. And if you go too low, you’re leaving money on the table. An experienced real estate agent can help determine what your ideal asking price should be, so your house moves quickly and for top dollar.
2. Keep Your Emotions in Check
Today, homeowners are staying in their houses longer than they used to. According to the National Association of Realtors (NAR), since 1985, the average time a homeowner has owned their home has increased from 6 to 10 years (see graph below):
This is much more than what used to be the norm. The side effect, however, is when you stay in one place for so long, you may get even more emotionally attached to your space. If it’s the first home you bought or the house where your loved ones grew up, it very likely means something extra special to you. Every room has memories, and it’s hard to detach from the sentimental value.
For some homeowners, that makes it even tougher to separate the emotional value of the house from fair market price. That’s why you need a real estate professional to help you with the negotiations and the best pricing strategy along the way. Trust the professionals who have your best interests in mind.
3. Stage Your Home Properly
While you may love your decor and how you’ve customized your house over the years, not all buyers will feel the same way about your vibe. That’s why it’s so important to make sure you focus on your home’s first impression, so it appeals to as many buyers as possible.
Buyers want to be able to picture themselves in the home. They need to see themselves inside with their furniture and keepsakes – not your pictures and decorations. As Jessica Lautz, Deputy Chief Economist and Vice President of Research at NAR, says:
“Buyers want to easily envision themselves within a new home and home staging is a way to showcase the property in its best light.”
Fun Things to do this week…
Queer Goes Nothing: A Comedy Storytelling Show
A comedy storytelling event! Featuring Portland’s best queer comedians! They’ll be vulnerable and funny, so… queer goes nothing!
When: Wed, May 8, 7–9 pm
Where: Portland Pickles Public House Boise | 3932 N Mississippi Avenue Portland, OR 97227
The Beast
For a film that begins in 1910 during the Great Flood of Paris, The Beast feels achingly alive with the anxiety of existing in 2024. Based in part on Henry James’s 1903 novella, The Beast in the Jungle, about a man who believes his whole life is steered toward an impending catastrophe, the latest and tenth film by Bertrand Bonello finds that same “deep-seated feeling that something ….
When: Every day, through May 9
Where: Cinema 21 Nob Hill | 616 NW 21st Portland, OR
THIS WEEKS REAL ESTATE UPDATE
Numbers help tell a story.
Numbers are powerful, especially when it comes to real estate! Whether you are assess whether it’s a good time to buy, sale or invest these numbers can be very valuable in determining offers or best sales price! PLEASE FEEL FREE TO REACH OUT WITH ANY QUESTIONS
Portland, OR 97230
Wed May 08 2024
This week the median list price for Portland, OR 97230 is $499,000 with the market action index hovering around 49. This is less than last month’s market action index of 51. Inventory has decreased to 41.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller’s Market
The market has been cooling over time and prices plateaued for a while. Despite the consistent decrease in MAI, we’re in the Seller’s zone. Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Portland, OR 97220
Wed May 08 2024
This week the median list price for Portland, OR 97220 is $486,950 with the market action index hovering around 66. This is an increase over last month’s market action index of 62. Inventory has increased to 30.
Fairview, OR 97024
Wed May 08 2024
This week the median list price for Fairview, OR 97024 is $512,500 with the market action index hovering around 71. This is an increase over last month’s market action index of 54. Inventory has increased to 5.
Troutdale, OR 97060
Wed May 08 2024
This week the median list price for Troutdale, OR 97060 is $544,000 with the market action index hovering around 60. This is less than last month’s market action index of 62. Inventory has increased to 14.
Gresham, OR 97080
Wed May 08 2024
This week the median list price for Gresham, OR 97080 is $559,900 with the market action index hovering around 49. This is an increase over last month’s market action index of 44. Inventory has increased to 69.
Portland, OR 97236
Wed May 08 2024
This week the median list price for Portland, OR 97236 is $517,450 with the market action index hovering around 48. This is an increase over last month’s market action index of 44. Inventory has increased to 30.
Portland, OR 97211
Wed May 08 2024
This week the median list price for Portland, OR 97211 is $550,000 with the market action index hovering around 61. This is an increase over last month’s market action index of 57. Inventory has increased to 41.
Portland, OR 97232
Wed May 08 2024
This week the median list price for Portland, OR 97232 is $794,000 with the market action index hovering around 58. This is less than last month’s market action index of 69. Inventory has increased to 8.
2 of the Factors That Impact Mortgage Rates
If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates. Over the last couple of years, they hit record lows, rose dramatically, and are now dropping back down a bit. Ever wonder why? Read more
Experts Project Home Prices Will Increase in 2024
Even though home prices are going up nationally, some people are still worried they might come down. In fact, a recent survey from Fannie Mae found that 24% of people think home prices will actually decline over the next 12 months. Read more
Have you heard of HOMEBOT?
Find out everything you need to know about your homes current value here! Learn more
Are you thinking about selling your home?
FIND OUT HOW MUCH YOUR HOME IS WORTH?
RECIPE OF THE WEEK!
Salmon En Croute
Ingredient Checklist
- 1/2 c. (1 stick) unsalted butter, plus more for baking dish
- Kosher salt
- 1 lb. elbow macaroni
- 1/2 c. all-purpose flour
- 5 c. whole milk
- 1 tsp. mustard powder
- Freshly ground black pepper
- 12 oz. shredded cheddar (about 3 c.)
- 8 oz. shredded Gruyère (about 2 c.)
- 3 oz. finely grated Parmesan (about 1 1/2 c.), divided
- 1 c. panko bread crumbs
- 3 tbsp. extra-virgin olive oil
Instructions Checklist
- Preheat oven to 375°. Grease a 13″x9″ baking dish with butter. In a large pot of boiling salted water, cook macaroni, stirring occasionally, until al dente, 5 to 6 minutes. Drain
- In a large saucepan over medium heat, melt 1 stick butter. Sprinkle flour over and cook, stirring, until slightly golden, 2 to 3 minutes. Pour in milk and whisk until combined. Add mustard powder; season with salt and pepper. Bring to a simmer over medium-high heat and cook, stirring, until sauce starts to thicken, about 2 minutes.
- Remove pan from heat and whisk in cheddar, Gruyère, and 1 cup Parmesan until melted and smooth. Stir in macaroni and transfer to prepared dish.
- In a small bowl, combine panko, oil, and remaining 1/2 cup Parmesan. Sprinkle over macaroni; season with more pepper.
- Bake mac and cheese until bubbly and golden, 25 to 30 minutes. Let cool 10 minutes.
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