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Home Selling in 97203 : Real Estate Advice

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  • Local Info0
  • Home Buying4
  • Home Selling5
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Activity 68
Sat Dec 19, 2009
The Stephen FitzMaurice Team answered:
Yes! Of course, we can't know the future, but things are looking up in the overall Portland market. The strongest neighborhoods will recover the fastest!
0 votes 2 answers Share Flag
Wed Feb 10, 2010
Tom Inglesby answered:
You should talk to your account. There are rules about converting a personal residence to a rental but it can be done. The rules changed this year when selling a home that you used to be able to live in 2 of the past 5 years and have 2 homes that you claimed as both of your personal residences. This year the IRS says that you will have to discount the house that you do not live in the number of years that it is vacant another word’s you don't get the 3 free years. If you lived in it only 2 years of the past 5 years you only get a $200,000 deduction instead of 100% for your residential exclusion of a married couple of $500,000. This new law went into effect January 1, 2009. It is going to start getting many people upset that they were never told about this? The sooner you sell the more money goes into your pocket if you have been living in the beach house or even if you have not. Now is the time to sell while rates are low about 4.6% which is great as a buyer an even better as a seller since the buyers can afford more house while keeping their payment where they want them. Good Luck.

Tom Inglesby, Broker
RE/MAX Equity Group inc
ABr,CRS, ES S.T.A.R eco-broker
503-319-9035
... more
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Sat Nov 21, 2009
Dirk Knudsen and Kirra Krussman answered:
Yes.

My Team.

Top Re/Max team in 2006 and 2007 and 25 years in the business.

We have great marketing and will do a super job for a very competitive fee.

503-799-8383

Thanks and best wishes;

Dirk Knudsen
Re/Max Metro Gold
Principal Broker
... more
0 votes 12 answers Share Flag
Tue Apr 17, 2012
June Lizotte, Retired Broker answered:
Hi Michael,

Thank you for your question. Unless the law has changed the answer is yes. In fact, the property shouldn't be sold (actually listed) until it's gone through probate, but verify that with the attorney for the estate. as you haven't indicated what stage of the probate you are in.

If you are indeed the legal heir and need help with the listing of the property please allow me to assist you along the way as you prepare to sell. You will want to know the value of the property based on how the market has been doing with properties with similar features. I can do all the work necessary to make that determination. If you are the heir you can be doing a lot to prepare for getting the property listed as it gets closer to the close of probate. Feel free to contact me if you desire to discuss the process. It will be important to know at what stage of probate your are in as well..as timing is important. There are required notices that will be posted to see if there is anyone claiming rights to any of the inheritance and other time-consuming details that can delay probate.

June Lizotte, Real Estate Broker
Providing REAL Service
Prudential NW Properties
6400 SE Lake Rd., Suite 200
Portland, OR 97222
jlizotte@prunw.com
503-310-8032
... more
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Fri Jun 5, 2009
Bill Eckler answered:
When trying to make a broad generalization such as this it's important to keep it real. Stay with similar property in the same general location, priced in the same price range.

We know that today's typical buyer is looking at property in a lower price range than a few years ago. This is mainly because of the RE market and the impact of short sales and foreclosures on the overall market.

Ask your real estate professional to provide you with comparisons that can help you to have a better understanding of the "average days on market" (ADOM) for homes similar to yours.

Good luck
... more
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Fri Jun 5, 2009
Bill Eckler answered:
The real report card on a real estate professional's effectiveness is how long it take then to produce a buyer for your home. Tied to this thought is the reality of the connection between the number of showings and a sale. We know that the more a property is shown the greater the chances of it being sold. Conversely, we can expect that if you are not getting showings your chances of selling are greatly deminished.

If you are getting showings and your agent is doing everything they promised they would do to promote your home, consider it a job well done. Additionally, if you are getting many showings and no offers, consider lowering your price...

Good luck
... more
0 votes 3 answers Share Flag
Wed Sep 30, 2009
Bill Eckler answered:
Successfully selling a home is all about "Price and Visibility". The first feature buyers consider when viewing a home it its price.....then they look at the features it offers.

Visibility takes on many faces and greatly enhances the sale of the home: a comprehensive marketing plan, advertising, internet presence, corporate visibility, and yes, open houses all add to a homes marketability.

Our view is that, "anything in any condition can be sold if properly priced and it the public knows of its availability. Do open houses at least monthly.

Good luck
The Eckler Team
... more
0 votes 14 answers Share Flag
Sun May 17, 2009
Dirk Knudsen and Kirra Krussman answered:
Is this 107th home your listing??

Need the info to be able to help!

Thanks

Dirk Knudsen
Re/Max Hall of Fame
0 votes 7 answers Share Flag
Tue May 5, 2009
Jean Pritchard answered:
Madison,

When you read your CC&R's, does it address fences, I was on the board of a large condo complex for 7 years and chairperson for 2 of those years. There can be a definate difference in CC&R's and maintenance and upkeep issues of a condo. This may not be an issue, or it could possibly be handled with a vote of the current owers. I'd really like to read your CC&R's and talk to you about this. Call me at 503-680-4449, or e-mail me at jeanprit@msn.com and let's discuss this issue more fully with you.

Jean Pritchard
Amerivest Realty of Portland
503-680-4449
jeanprit@msn.com
... more
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Mon May 4, 2009
Dirk Knudsen and Kirra Krussman answered:
Sean..

Sounds like your in a tough spot.
Do you have an agent???
You need to speak to them or their principal broker right away. If the contingency is that simple than you need to define the "sale" part.

It is probably referring to having their home in escrow. If that is the case and they can not prove that they have a sale in the next few days than there will be no deal.

But there is more to the story and those contracts have lots of fine print and room for interpretation. So you need to calm down a bit and rationally look at the contract.

Get some help either from your broker or if you are not represented get help. I could look over the file for you if you need an opinion can not do much without a better understanding of the contract and its specific terms. This is never easy.

Most likely there might be a way out or a win win. Not always however.
This may require you to get some legal help.

So let me know what we can do.
Best wishes to you;

Dirk Knudsen
Re/Max Metro Gold
Re/Max Hall of Fame
dirkknudsen@gmail.com
... more
0 votes 3 answers Share Flag
Mon Aug 3, 2009
Janeese Jackson answered:
Actually we've been experiencing the "downdraft" for awhile. We're back to 2005/2006 pricing in lots of areas! The properties move if priced competitively. Real estate has always been about location, condition and price. It's even more important now! The challenge is finding that "sweet spot" in the pricing hierarchy. You almost have to run the comparable data, coupled with your gut reaction and undercut the market.
Janeese Jackson, Principal Broker
Real Estate Resource
503-709-0802
... more
0 votes 8 answers Share Flag
Fri Oct 10, 2008
Dallas Texas answered:
GREAT QUESTION: Contact a title company where they can process paperwork transfer of title THAT is if the property is owned free & clear. http://www.lynn911.com http://www.homes-for-sale-dallas.com ... more
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Thu Oct 30, 2008
Lana Lavenbarg answered:
First of all in Oregon I have been told you have to have an attorney draw up the lease - you can only write the offer - but again - that is just my understanding. The lease and option are set up for whatever the buyer and seller will agree to - some sellers will do a lease having $10,000 up front released to them as the "option money" (in an offer we would call that earnest money). It is non-refundable and they decide whether or not it is applied to the purchase price. Affter that - the amount of the payment each month can be handled 2 different ways. Either one as just a rental payment or 2nd as rental payment plus extra to go toward the down payment. The total payment will not go toward the purchase price. Again that payment and the amount depends on what the buyer and seller agree to. and then - the final purchase price - in what? A year? Is the buyer going to be happy paying whatever price is agreed on today? What if prices go up? Will the seller be happy that they agreed to the "lower" price - or if prices go down more? Will the buyer be happy with the price then? So - many things to think about and negotiate. I hope this helps a little. ... more
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Fri Sep 5, 2008
Gloria Matthews answered:
Well, I might be able to save you some time or money. ......Find your contract, or call your agent, or even your agents managing broker. Read your contract very carefully. While I am in Washington, not Oregon, I bet the contract says that YOU the buyer have the ultimate responsibility for verifying information.

Often as realtors, we rely on county records or an appraisal as the source of our information. We do our best to provide accurate information.

Perhaps I dont have enough information about your particular issue, but in general....you had your opportunity to measure, or have it measured, in the pre-close process of discovery....inspection and appraisal, prior to closing.
... more
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Thu Sep 4, 2008
Barry Lynn Miller J.R. answered:
That is a question better served by a tax accountant please don't take advice from this site you might get the right advice not saying you want just ask a professional in that field heaven help you follow the wrong advice ... more
0 votes 7 answers Share Flag
Thu Aug 28, 2008
Gloria Matthews answered:
You are very specific about finding an agent with experience in these units. I hope you are not swarmed with eager agents who dont have the experience you are looking for!! I am an agent in washington, however I do have the means of locating the person you are looking for...let me know if I can help you find them

gloria matthews
gloria@ggmatthews.com
Jensen White Realty
... more
0 votes 8 answers Share Flag
Thu Oct 9, 2008
Tom Inglesby answered:
Here is a good company http://www.realtyimaging.com/ that will take pictures and post for you. Cost depends on what you want done but most companies will be under $150. Any RE/MAX agent with a camera can take pictures and download for free a tour with music. Good Luck,
Tom Inglesby, Broker
RE/MAX Equity Group Inc.
... more
0 votes 11 answers Share Flag
Sun Feb 17, 2013
Sarah Eubanks answered:
Doug...

You may want to have your agent follow up with those agents who have been through the home. Get their opinion on pricing. If you can afford to sell it for less, you may want to drop the price. Remember, though, that you are in control of what you want to do. Do not feel as though you must cater to everyone as there is a buyer for every home. Best of luck to you! :) ... more
0 votes 7 answers Share Flag
Sun Jul 20, 2008
Chris Courtney answered:
Hi Las Vegas,

Lease-options can be tricky, but here are some general points on how they work.

1. The lease is the contract that establishes rent for the property which may or may not include a premium above the rent rate. The 'premium' remains in an escrow account and accumulates over the life of the lease agreement such that when the buyer chooses to exercise the option, monies have stacked up that serves as partial downpayment. Meanwhile, the monthly rent monies pass through an escrow company to the seller. So, if your monthly rent is $1,000, try and afford $1,200 or $1,500 so those additional monies stack up over time. You may also choose an interest bearing account that a title company will assist you with establishing. Those monies are also protected in escrow should you choose to not exercise the option, but you will be losing the option 'price'.

2. The option 'price' is a price which may or may not be credited to the eventual price of the subject property. The seller & you as buyer may negotiate this option price and there is no standard. The option is a recorded document. The option has an expiration date. Additionally, provisions within the option agreement for transferability and setting property price are agreed. You do not typically set the price on the property at the time of option agreement, but in the future when the option is chosen to be exercised. As the buyer, If you set price now, the property may decline in value when you choose to exercise the option such that appraisal may be an issue and moreso buying a property for more than what it is worth. On the other hand, the property may appreciate in value over this time. Typically, any seller under good counsel will agree to setting the price when the option is chosen to be exercised. This is so the seller may gain in appreciation, but in this market who can predict pricing 2-5 years from now.

3. Lastly, hire a good attorney to handle the paperwork. If there is a broker involved, they don't get paid until the option is exercised and the property actually sells. This may relieve a seller who would want to collect enough monies now to cover any requested broker fees and which would ultimately become more expensive for you up front.

You can search real estate for sale at www.HouseNow.com.

Good luck!

Regards,

Chris Courtney
541-912-1405 cell
... more
0 votes 7 answers Share Flag
Thu Jul 17, 2008
Gloria Matthews answered:
I am in washington, but believe it will be consistant that a lease/option must be written as TWO separate documents. the Option to buy (price/terms, etc) and the price you pay for that option, and the lease and terms. Each contract must refer to and relate to the other and specific terms.

Another method I have used is a Purchase and Sale Contract (committment to purchase), with a delayed close and an early occupancy lease.

both methods are viable, both have strengths and advantages, both have potential pitfalls to either buyer or seller.

I just attended a seminar sponsored by a lending bank and an attorney to have a round table on these issues.

Best wishes, I hope you find the advice you are looking for.

gloria matthews
Jensen White
360-600-3042
... more
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