12 Tips for Selling Your Home in a Down Market

Great tips and advice from businessinsider.com.  Below are just a few of the tips gleaned from the article.  Click here or on any of the bullets below to read the entire article and get more in depth information and advice!

• “Price it right from the get-go!” – Comps! Comps! Comps!  Comparable sales (not unsold listings), of homes that have actually sold in your neighborhood (that are similar to yours) are truly the best indicator of what your home’s current value is at this point.  The National Association of Realtors has reported that nearly half of all sellers accepted offers that were less than 90% of the asking price.

• “Put your best foot forward” – Some of the most impactful actions you can take when it comes to selling are often times just addressing the little things.  Which also means that these efforts are generally some of the most cost effective methods of making your home stand out.  Try paying extra attention to the details of your home.  Replacing that worn or missing caulking, sharpen up the landscaping with more timely trimmings or making sure the windows truly shine can all help your house chirp ”buy me!” just a little bit louder.

• “Be flexible” – Today’s real estate market is clearly a buyers market so be prepared to flex in all directions when it comes to attracting and keeping buyers on the line.  Offering incentives such as paying the buyer’s closing costs or leaving behind those beautifully matched appliances are a great start!

• “Don’t fall victim!” – Scams abound in these distressed times of ours.  Always proceed with caution when approached by “investors” seeking out desperate homeowners.

• “Finance 101″ – Realize that it’s harder for a buyer to obtain financing these days due to more stringent borrowing standards and intensified scrutiny from lenders.  It is also important to always take the time to consider cash offers even if they are lower than you had hoped to receive.  No one wants to just “give it away” but you also don’t want the bank to come and take it away either!  Counter offers are always an option!

As always if you or anyone you know has any questions regarding buying or selling real estate in the Portland or Wilsonville metro areas then please feel free to contact us at anytime!

- The Kennedy Team
RE/MAX equity group
503-981-9146
kennedyteamhomes@gmail.com

So Where is the Most Affordable Place to Buy in Oregon?

We're having a sale! Ground Floor - Housing!!

Glad you asked!  According to a recent survey published by Coldwell Banker RE LLC, Woodburn is Oregon’s most affordable home market and Lake Oswego is the least affordable among the 21 real estate markets surveyed.

Utilizing a unique take on the residential industry that looks solely at the prices of four-bedroom, two-bathroom homes listed between September of 2010 and March of 2011.  It should be noted that only markets with at least 10 homes on the market that met the criteria during the survey period were included in the report.

The average price of a Woodburn midsize home was $198,812, marking it as the 763rd cheapest market currently in the U.S.  Additionally Woodburn is one of only 775 U.S. cities where such a home commands $200,000 or less.

Whereas Lake Oswego’s (Oregon’s most expensive city to own in), average 4 bed, 2 bath home costs an average of $524,100, ranking it as 2,113th in the nation for comparative affordability.  Interesting stuff you say?  Read on for the complete list of Oregon cities, ranked from the most affordable to least affordable:

1. Woodburn: Average price, $198,812; national rank, 763.
2. Lebanon: Average price, $200,422; national rank, 782.
3. Pendleton: Average price, $214,027; national rank, 936.
4. Keizer: Average price, $216,665; national rank, 964.
5. Prineville: Average price, $222,213; national rank, 1010.
6. Coos Bay: Average price, $243,854; national rank, 1192.
7. Klamath Falls: Average price, $257,250; national rank, 1303.
8. Roseburg: Average price, $269,506; national rank, 1396.
9. Albany: Average price, $272,840; national rank, 1415.
10. Beaverton: Average price, $277,341; national rank, 1435.
11. Silverton: Average price, $277,708; national rank, 1437.
12. Redmond: Average price, $278,029; national rank, 1440.
13. Salem: Average price, $286,850; national rank, 1488.
14. Eugene: Average price, $287,946; national rank, 1495.
15. Springfield: Average price, $1291,632; national rank, 1508.
16. Bend: Average price, $311,521; national rank, 1598.
17. Medford: Average price, $332,625; national rank, 1666.
18. Portland: Average price, $356,769; national rank, 1752.
19. Tigard: Average price, $371,877; national rank, 1795.
20. Corvallis: Average price, $373,200; national rank, 1802.
21. Lake Oswego: Average price, $524,100; national rank, 2112.

January 14th 2011 is the deadline for Oregon’s Mortgage Assistance Program!!

Mortgage Assistance Program

If anyone you know has lost income or is unemployed and is having trouble making their mortgage payments, please pass this information on to them.  This mortgage assistance program has been established to help 5,000 Oregon households pay their mortgages for up to one year.

The application deadline is Jan. 14th 2011.  However as of Jan. 5th our sources have informed us that OHSI has only received 2,500 applications!  That’s why we’re working to help spread the word to as many Oregonians as we can.

There is a simple anonymous test on the website that you can take to see what your chances of qualifying for the program are.

As always, if you or anyone you know, has any real estate related questions or needs we are here to help!

- The Kennedy Team

Oregon Real Estate Blog

Hello dear friends…  Well we’ve finally done it!  We are now official “bloggers” thanks to our new “Much Ado About Something” Oregon real estate blog.  Here you will be able to read the latest stats and info regarding the real estate market here in Portland and the surrounding metro areas.  Check back often for updates and continued analysis of the housing trends for Portland, Oregon and the nation.