Late Summer Scoop: Portland Real Estate
Happy late Summer! Overall the Real Estate market in Portland continues to out perform many other areas of the country, and yet our market continues to be extremely polarized as well. I’m seeing inventory at the entry level market (lower price ranges) and also boutique products like condos, sit on the market and struggle to make gains if they were just sold not too long ago. Time is such an essential element to making a profit in Real Estate, and that rings very true as of late, more than in years past where the market was making such fast gains. But we all knew it wasn’t sustainable, and now we’re seeing a recalibration occur over the past couple years especially.
That said, the market can still be fiercely competitive, and recently I wrote an offer on a home (and won) beating out 13 other offers on a little home in NE Portland’s hot little Cully neighborhood. If priced very competitively, multiple offers are still happening, and often on the cute houses, and I’m really not seeing much of a drop in activity until you hit the Jumbo loan amount of $832,750 (loan amount not sales price) or are looking in areas that have been impacted by the job market more than most (think Intel and Nike – areas that bring in worker buyers). Confusing? Yes it is! But as always, it’s going to be important to hone in with me if you’re looking to buy or sell, so we can strategize accordingly. For the most part, having it be more of a buyers market, and having rates parked pretty firm in the 6’s this year, does make it a better time than it has been in recent years past, to make a move, and buy something new.
And though it’s a tricky market, never fear! I’m here to help you navigate the ever changing market, and the most important thing to remember is that with a plan and me there to guide you every step of the way, we can execute your housing goals and needs, and with as little stress as possible, too.
What’s going on around town
Summer isn’t done with us yet…and August is here to prove it. The Portland and the SW Washington area has been buzzing with festivals, food events, and community gatherings that remind us why we love calling this place home. Next up is the NW Veg Fest. Check out the event info here!
Summertime in the garden
With the weather being relentlessly hot (and smoky at times) I’ve found it more difficult than ever to keep a good looking yard and garden, but I continue to try, and find joy in the little wins along the way. Speaking of – would you look at the size of my prized pumpkin?! It’s growing and growing and taking up a whole lot of space, which is just fine by me since it’s been an atrocious year again for tomatoes, but hopefully that’s just me needing to balance out my soil, and not an issue we are all sharing. Here’s to hoping on that front. As the weather keeps changing, so do our seasons in life, and I’m starting to come to peace with the fact that sometimes there’s less to give to the garden, so I can water other areas that need tending. Do what you can, and let go of the rest! That’s my motto.
Be Prepared
Speaking of hot and smoky weather, emergency preparedness is always somewhere on my mind. Lately it’s jumped back up to the forefront, so I’m extra glad to be inviting you to join us for a free, practical emergency preparedness workshop hosted by Urban Nest Realty Oct 1st. A trained Neighborhood Emergency Team (NET) volunteer will share simple, affordable ways to prepare for severe weather, earthquakes, and other potential disasters. Register here!
And in the meantime, here’s a few quick tips to keep the smokey weather out of your house:
- Purchase some extra air filters not only for your furnace, but also for any extra purifiers you may still have stashed away from Covid days / our last wildfire season.
- Seal the big gaps around the home where air is seeping in from outside. It will help you save on your AC bill and keep the smoke out.
- If you don’t have central AC, you can strap an air filter to the back of your fan and filter the air that way in a pinch.
- Have a go bag ready (for your pets, too) and a plan if you need to leave quickly.
What I’ve been up to
Life on all fronts has been trucking along nicely, and we are about to have a kiddo starting their SENIOR year of high school here in a few days!! How does time fly like this?! It’s really wild and such a gift to see the passage of time through the parental lens. It goes wayyyy too fast! I’ve also been enjoying the busy real estate season and opportunity to be of service and re-connect with many clients during various life changes. It’s really such an honor to be a trusted resource. I’ve also been trying to stay active amidst the wild summer real estate schedule, and have recently been spending more time on my bicycle. It really is so cool to experience the city from a bike vs walking or driving. Lastly, but not least, I’ve somehow managed to ‘’befriend’’ a rabbit that has decided my overgrown wildflower garden is their perfect home, so that means I’ll be leaving it wild and unpruned for the foreseeable future. Literally this bunny is bringing so much joy to our family (including the cats) that it’s fine Felix (what we have named the bunny) is probably also enjoying some of my garden veg, too. Eat up friend. There’s plenty to go around.
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