Leaky basement? Adapting to this rainy year.

Wow what a winter we’ve had. 

If you haven’t had water in your basement or crawl space before, this may have been the year that you did. In fact, if you have a crawl space instead of a basement and you haven’t looked in it lately, it would be a good idea to check it during or after the next heavy rain and see if it is dry. 

I’ve gathered some resources for you for moisture issues and I may post more of them in upcoming newsletters, but feel free to email me if you need the whole list sooner rather than later. I am not an expert in these areas; most of what I have learned is gleaned from listening to hundreds of home inspections over the years. I like to learn something new at every home inspection. 

First the basics. Keep your gutters clean and your downspouts unclogged. Go outside in a heavy rain and look at how they are flowing. Are the gutters overflowing? All the water should be flowing down the downspouts without backing up or spilling over. This can mean cleaning your gutters and downspouts more than once or twice a year. If your downspouts are disconnected from the storm sewer, the water should be directed away from house, first touching the ground at least 4 to 6 feet away from the house or going into a “drywell” in the ground or other storm management system.

www.theconservationfoundation.org rain garden design

Some people use rain gardens or beautifully arranged pebbles to guide the water away from the house. 

If your downspouts are still connected to the storm sewer, and you suspect they are backing up or broken, you might try checking out Grumpy’s Drains. One of their specialties is clearing rain drains, the drains that go from your downspouts to the street or storm sewer. 

Another drainage company my clients have gotten help from in the past is Ability Plus Drainage (Greg Brimhall). They, like many drainage contractors, get very busy at times like these and can be challenging to reach and schedule with.  But keep trying. This company is very knowledgeable and can sometimes design creative solutions that are more affordable than a complete waterproofing job, including french drains and other methods.

If keeping stormwater away from your house doesn’t do the job, many contractors will recommend a sump pump. These have a variety of features, and sometimes more than one is needed, so do the research before having one put in. Other steps may include sealing the foundation from the exterior, which usually involves digging down to get access to the foundation. 

Keeping water out of your basement or crawl space is an important step in preventing mold in your home and resolved basement moisture problem is a plus for resale. Check with me for a list of contractors for this or other projects. I’d be happy to help. 

The Value of Working with an Agent

Popular internet-based real estate marketplaces like Zillow, Trulia, and Craigslist have made searching for your dream home a whole lot easier on your own. However, every home is unique (just like these kittens!). There are several important things to remember about why having a real estate professional on your side can make the process much better! Here are just a few ways your M Agent beats the internet:

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    • Internet-based real estate marketplaces often give an estimate of a listing based on market prices of homes around the area. While these estimates and pricing calculators have gotten better over the years, especially at identifying trends in an area, nothing beats an agent’s local knowledge and resources in seeking out homes that are within your budget. If you are selling, online services don’t reflect what is really special about your home that makes it stand out from the competition. They can’t take that into consideration when pricing.

 

    • Your agent’s experience and knowledge can help you put your best foot forward at the negotiation table. You want someone on your side with access to the best facts and figures without undermining either the buyer or seller. While you may have some idea about how the market is playing out, a real estate professional will likely know just a bit more than you. Agents at M also have the benefit of working at a brokerage where there are forums for other agents to offer their support and expertise.

 

    • Your agent is there to understand your needs and your desires — the internet can’t really do that for you. By putting you first, and gaining your trust, your agent will be able to help you achieve your real estate goals, be it finding your first home or selling your third!

 

    • Not all homes for sale have an online presence — some homes exist just under the radar. Typically, agents will let each other know of new pocket listings that might be of interest, or share exclusive listings before they even hit the market. (See for yourself and check out my sneak peeks!) This is valuable information, especially in this current market.

 

    • When you’re working with an agent, especially an M Realty Agent, you know that they have your best interests in mind. The internet may let you quickly search for that house you drove past, but your agent can show you a house that you may have not considered, but is perfect for you.

 

There are many other things your M Agent can do for you — shuffling through mountains of paperwork is just one of them. If you’d like to learn more about what I can do for you, don’t hesitate to reach out.

Mt Tabor — 7644 SE Clay

$401,000 — 2 Bedrooms, 1 Bath — 923 SF

East Tabor eco-friendly garden retreat near the Park! Huge glorious trees, & sun for pesticide-free & organic gardens too! Updated bath & cool checkerboard kitchen. Loft space above garage. Two bdrms + study opens to patio & sunny backyard w abundant berries, natives, herbs, rain barrels, view of park, & tiny art shed. Majestic Giant Sequoia and Western Red Cedar trees. Sewer 2008. Newer metal roof & newer furnace!

Listed by: Laurie Sonnenfeld @ M Realty LLC

SOLD — 6 Days on Market

Cully — 4729 NE 78th Ave

$275,000 — 2 Bedrooms, 1 Bath — 774 SF

Nestled in the blossoming Cully neighborhood on a quiet street near Roseway delights & Sacajawea off-leash park! Bright, sunny 1950 cottage maintains much of its original charm. Hardwood floors. Enjoy native plants, fruit trees, a sweet garden with strawberries, a rain barrel & a deck in the fenced yd. Attached garage. Appliances included. Updated furnace, insulation, fresh paint & some new windows. Room for more improvements & updates.

Listed by: Laurie Sonnenfeld @ M Realty LLC

SOLD — 8 Days on Market

A lush yard and established plantings adorn the front of the home, while an attached garage (with bike hooks) opens to the back yard and provides room for your car, tools, and toys.

Around back, a large grassy area and a raised deck call for relaxation amidst the fruit trees and strawberry garden. Rain barrels help make good use of rain water, and the disconnected downspouts come with a rebate on your water bill.

Besides the apple and pear trees, the site boasts vine maples, rhodies, disease resistant dogwoods, budlea (butterfly bush), a honey locust, a black willow, snake bark maple, a bamboo leaf oak, spirea, a raywood ash (turns burgundy in the fall) and a golden chain tree!
Inside, the living room is light and bright, with gleaming hardwood floors illuminated by generous windows. The cozy kitchen is equipped with ample storage, corner display shelves, a gas range, a pot rack, and a sun-splashed dining area.

Ladd’s Addition — 2145 SE Ladd Ave.

$654,000 — 4 Bedrooms, 2 Baths — 2782 SF

Much bigger than it looks! Beautiful *bright* 1924 bungalow in historic Ladd’s Addition near Hawthorne & Division cafes. Stunning vintage built-ins. Lovely cherry wood kitchen w Silestone quartz countertops. Generous light shines through a multitude of windows. Possible art studio in shop/garage that has plumbing. Sunny yard. Possible sep living quarters. Park 2 cars off street. High-rated, high achieving schools.

Listed by: Laurie Sonnenfeld @ M Realty LLC

SOLD — 15 Days on Market

Westmoreland — 1306 SE Yukon, right on the Bluff

$408,500 — 2 Bedrooms, 1 Bath — 1694 SF

On the bluff in Westmoreland! Fabulous rare opportunity for gorgeous, sunny view of Oaks Bottom Wildlife Sanctuary & river (river mostly in winter). 2 blocks to cafes. Watch abundant birds & wildlife from living & dining of 1915 cottage. Update & make it your own! Hardwoods in entry and maybe under carpet. One level + unfin basement. Sunny yard & decks. Estate. As-is price.

Listed by:  Laurie Sonnenfeld @ M Realty LLC

SOLD — 135 Days on Market

River Rd — 986 SE River Forest Rd

$345,000 — 3 Bedrooms, 2 Baths — 1066 SF

Hidden gem in River Forest paradise. Mid-century-modern! Serene view of River Forest Lake across the road. Easy 1-level living. Stunning hardwoods, vaulted ceiling, skylights, 2 baths. Updated kitchen w eco-friendly paperstone counters. Lovely yard w trees & sun. Established natural gardens, 3-room deck & fire pit. Wonderful community near Trolley Trail bikeway, Oak Grove village cafes, and new MAX.

Listed by: Laurie Sonnenfeld @ M Realty LLC

SOLD — 5 Days on Market

The River Forest neighborhood is a peaceful natural watershed paradise. Residents make up a lively and interactive community including a fine assortment of artists and musicians. Look forward to the series of neighborhood art shows, a 4th of July parade and the Valentine’s Day stroll. Several homes have been awarded certification for sustainable landscaping or backyard wildlife habitat.

River Forest Lake and the Willamette River are in close proximity, while a variety of shops and cafes in Oak Grove Village provide a place to bump into your neighbors while having coffee, lunch, or browsing for treasures. The nearby Trolley Trail bikeway and the upcoming 2015 MAX Light Rail stop offer a variety of commuter options. The Trolley Trail bikeway is a 6 mile trail from downtown Milwaukie to Gladstone. Its north end is close to the Springwater Corridor, a convenient way to bike downtown.

At night the quiet stillness underscores the occasional sounds of wildlife. The level of darkness makes the stars pop out, encouraging sky watching and peaceful sleep.  You’ll feel like you are miles outside of civilization, even though you are only a short drive from downtown Portland.

The Residence: This 1965 mid-century modern home is nestled in the River Forest neighborhood of Oak Grove. An enticing view of River Forest Lake across the road can be enjoyed from the dining room and the cozy front porch. The lovely south-facing backyard features an established natural garden, a tool shed with water and electric, and a three-room deck and firepit–a serene retreat excellent for relaxing and entertaining.

Enter the threshold into the bright and airy living room. Stunning hardwoods are illuminated by skylights and a sliding glass door to a secret courtyard retreat, open only to you, the sun and the sky.

High, vaulted ceilings open up the space and carry into the dining area. The beautifully updated kitchen boasts eco-friendly paperstone counters, stainless steel appliances, a sizable pantry and a counter depth fridge. A master suite with bath, along with second and third bedrooms and bath are tucked away down the hall for privacy.

Summer Selling Starts in January

It’s hard to believe, but selling your home by summer 2013 can mean starting at the beginning of the new year. Starting preparations in January helps create an easy and smooth selling experience so you can focus on the next step. On average, it takes about 4 to 6 weeks to get your home ready to go on the market. That might include two to four weeks for minor repairs and freshening to get top value, and another two weeks for our marketing team in the M Media Truck to capture the story of your home and create all of the amazing materials to show your home to its best advantage. Professional staging needs to be squeezed in there too.

That means your home would be ready for the market in February or early March, which is an ideal time to start marketing a home in Portland. Buyers are usually waiting eagerly for new listings in the late winter and early spring. Sellers who wait until May or June to list their homes have a lot more competition in the marketplace, which can sometimes mean a lower sales price.

Based on the average days on market for homes in Portland, your home could receive an offer in two to six weeks, depending on a variety of factors. That gets us into April. The transaction could close by May, and you would be ready to move on to the next step by June.

Starting in January allows you to take the time you need to sell and prepare for what comes after. Let’s strategieze about the best timing and how to sell your home in 2013.

What’s happening with home prices

The Year in Review:

What a wild year it has been in Portland real estate. In popular neighborhoods, we’ve seen multiple offers and many homes selling in a week or less. So many homes sold last year that a shrinking supply of listings led to even more competition among buyers. Sellers thought it was a bad time to sell, so most people held off on listing their homes. Skinny inventory resulted in rising prices.

Have we seen the bottom of the market? It sure looks that way. Especially in the close-in neighborhoods, and many of the popular neighborhoods farther out, too.

On the other hand, despite the rising competition among buyers, some homes stayed on the market a long time, as you may have noticed.

Why?

the house didn’t have what most buyers wanted, or
it wasn’t marketed well, or
it wasn’t staged or priced right, or
it had some quirk or oddity or location issue.

For these reasons, it didn’t sell. It stayed on the market for a couple of months or many more, and if the sellers were motivated, they made the necessary adjustments, and they stuck with it until their turn eventually came up.

A divided market. The market this year has been divided into homes that sold almost immediately (quick-sellers), and homes that didn’t sell for months or longer (lingerers). In my 25 years in this business, I’ve seen divided markets before. The good news is, I know quite a few ways to turn a lingerer into a quick-seller.

What’s it been like for buyers? Buyers have had trouble finding homes to look at. There are very few homes for sale. My buyers keep a close watch on the Looking Glass home searches I send them. They are looking day and night. When a house is new on the market, the house show “green” for 24 hours and they jump on those first. When they see something good, guess what? A bunch of other buyers have noticed it too, and we line up with other brokers and their clients waiting to get in for showings. It really is like that. Multiple offers? We are talking 4, 6, even 10 offers if the house looks like a good deal. Of course this drives up the price. It can be a roller coaster for my buyer clients, but more often than not, if my buyers write an offer they get the house.

For sellers? The quick-sellers were of course very pleased and grateful to have a good offer from an earnest buyer, or even multiple offers.

Prices. We are in a rising market. The prices of the quick-selling homes are rising. In fact, it’s important to be careful not to under-price.

For the lingerer houses it’s still been a rough ride. With the right adjustments, those houses have sold in 2012 too. I have outstanding tools to identify the factors that have created a lingering house and turn it into a quick-seller. One difficulty, perhaps not obvious to people outside of the real estate profession, is that homes that stay on the market longer tend to sell for less.  There are many reasons, but a home that sells quickly usually sells for substantially more than a home that is on the market a long time. That’s why we evaluate pricing very carefully. Having the right price encourages buyers to make offers right away.

So there is your (very) short course on the answer to “what’s up with prices?” I’d love to tell you more. Let’s talk about your plans for 2013. Contact me if you’d like to learn more about your home’s value or making a purchase, or any other real estate questions. Happy 2013!

Kerns — 2114 NE Everett

$306,000 — 2 Bedrooms, 1 Bath — 1810 SF

Sunny, spacious, charming 1923 bungalow. Near hot new cafes like Luce, as well as Whole Foods, Laurelhurst Theater, Screen Door, 28th Ave, food carts and more. Light pours in! Beautiful hardwoods. Big kitchen & bedrooms. Bonus area in attic. Sunny garden spots. Buckman school! Bike-friendly cute detached garage on east side.

Listed by: Laurie Sonnenfeld @ M Realty LLC

SOLD — 91 Days on Market

Concordia — 6335 NE 26th Ave

$362,500 — 3 Bedrooms, 1.1 Baths — 2428 SF

Mid Century Modern in Concordia near New Seasons & Kennedy School. Spacious and open living & dining with “Modern” details. Lots of light with big windows everywhere. Classic “racetrack” ceiling. Big party room w fplc. New high eff gas furnace. Storms. Patio (or inexpensively depave it for sunny garden!). Either Jefferson or Madison HS.

Listed by: Laurie Sonnenfeld @ M Realty LLC

SOLD — 28 Days on Market

Roseway — 7625 NE Stanton

$272,000 — 3 Bedrooms, 1 Bath — 2013 SF

Beautiful Cape Cod with character. Hardwoods! Tucked away on charming street 6 blks from Roseway Theater & cafes (Pho Vinh & more!). Near parks & k-8 school. Updated kitchen opens to big, sunny yard w garden & privacy. Double living rm + formal dining. Spa tub & separate shower. Listing agent related to seller. Sqft includes 193sf garage.

Listed by: Laurie Sonnenfeld @ M Realty LLC

SOLD — 3 Days on Market

Hawthorne — 1605 SE 22nd

$410,000 — 3 Bedrooms, 2 Baths — 2426 SF

Bike-friendly Heart of Hawthorne retreat in Colonial Heights w attached garage/Artist studio. Fabulous organic gardens! Vintage oak floors w/inlay & built-ins. Lots of space! City views from upstairs skylight. Tremendous potential in tall bsmt. Beautiful built-in cedar sauna. Major upgrades include roof, central air, sewer, more. Near cafes, New Seasons!

Listed by: Laurie Sonnenfeld @ M Realty LLC

SOLD — 71 Days on Market

Brooklyn — 920 SE Franklin

$390,000 — 3 Bedrooms, 3 Baths — 3057 SF

Gorgeous craftsman bungalow 3 level. DUPLEX + 3rd kitchen & bath in bsmt. Near PSU, OHSU, New Seasons, new Max. Sunny 1200 sf main floor 2 bdrm w/fplc, wrap-around porch, hdwd, natural woodwk & built-ins. Lg bright loft-like upper flat. Easy restore to single family. Big yd w/garden.Garage. Seller is listing agent.

Listed by: Laurie Sonnenfeld @ M Realty LLC

SOLD — 151 Days on Market

Beautiful 1913 craftsman duplex for sale.  Natural woodwork! Hardwood floors and fireplace. Built-ins.  Big kitchen in large main floor 2 bedroom flat.  Sweet upstairs loft-like apartment too. And semi-finished basement with 3rd kitchen and bath.

Wraparound porch, garage, big back yard, and oversized garage.

Bike friendly and close to Brooklyn neighborhood cafes and Clinton Bike Blvd, People’s Food Co-op and New Seasons. Springwater Corridor and Esplanade too!

A few minutes to PSU/downtown, more.  House next door is going to be beautiful–still in the design phase.

Historic low rates, again…

I can only say I am amazed that mortgage rates have dropped this low again.

I’m hearing about 4.25% and 4.5% fixed rates. Today, Wednesday the 10th, I am hearing about rates for 30 year fixed loans with normal fees, under 4%. Even for investment purchases. Buyers who are able are moving forward with purchases to take advantage of the rates. Let me know if you want to know more. I can refer you to several reputable sources to get pre-approved for a purchase loan or a refinance. If you are self employed, the low rates will help you get financing. If you have to take an interest rate increase now because of credit or self employment, it won’t hurt as much because the starting rates are so low. If you’ve been considering buying a home in Portland Oregon, or a doing refi, call me. Now is the time.