Thursday, October 19, 2017 / by Daniel McDuffee
Residential Energy Performance Rating
If you are a homeowner in the Portland metro area you may have heard that Oregon passed a law requiring home sellers to get a home energy assessment before selling their home. Fortunately, this law doesn’t take effect until January 1, 2018. If you are thinking of selling your home next year you might be curious how this could affect you. Below are some important things to know about this new requirement.
Who does this new law affect?
The home energy score is only required for homeowners in the city of Portland (Multnomah County). Other counties are not currently required to have the energy score assessment. Homeowners only have to have an assessment done if they are listing their home for sale, so until you go to sell this will not affect you. To find out if your home must have a mandatory home energy score go to PortlandMaps.com and look at jurisdiction for your address. If Portland is listed as the city, you have to get a hom ...
Wednesday, October 11, 2017 / by David Mcduffee
If you are anything like most buyers, once you decide to buy a home you will likely rush out to open houses and get an agent to start showing you lots of homes. I don’t blame you.. Seeing homes is the best part of buying real estate. I want to warn you, however, that this could lead to some major missteps in the home buying process and make the experience far less smooth and enjoyable than it could be. In order to have the best home buying experience and get the home of your dreams, I urge you to talk to a lender and get pre-approved for a home loan before seeing even one home. Here’s why:
Knowing exactly what you can afford helps to manage expectations
Knowing exactly what you can afford before shopping for a home allows you to manage your expectation of what type of home you will be buying. If you are shopping for homes in the $400k price range and find out you can only get pre-approved for $300k, you are going to be highly disappointed when you have to shop at a much l ...
Thursday, October 5, 2017 / by Daniel McDuffee
As a Realtor I have seen countless homes. Working with buyers I can see first hand what kind of things instantly create an emotional reaction, good or bad. The more of these tips you are able to do before you list your home, the more likely your sale will go smoothly and net you the most money.1. Depersonalize your homeTake down your family pictures, unique knick-knacks, nude art and anything else that is highly individualized. You may love those zany lamps you've had for years, but the more personal your home is the less a buyer will be able to imagine themselves living there. When you are getting ready to sell your home, you want to make it into an empty canvas a potential buyer can paint their dreams onto.2. Remove all smellsA bad smell can kill the appeal of an otherwise perfect home, and homeowners have often gone "nose blind" to these smells. Ask your real estate professional if you have any potentially unpleasant smells in your home. Cooking odors from spices or fish, pet ...
Wednesday, September 27, 2017 / by David Mcduffee
It’s that time of year again when you’re about to get your annual property tax statement. They can be confusing, but they have information on them that’s important to understand. This is also the statement you provide your tax professional if you are eligible to deduct the property tax from your federal income taxes. One of the many benefits of home ownership.
Your tax statement is mailed out in October, and they are due by 11/15/2017. You may choose to pay in full by that date and receive a 3% discount, or 2/3 of the amount and receive a 2% discount, or 1/3 of the full amount with the other two installments due 2/15 and 5/15. This statement covers the tax period from 7/1/2017 to 6/30/2018, so some of the tax covers months already past and some covers months yet to come.
You will get a yellow tax statement if you set up a tax impound account when you purchased your home. This means you don’t have to pay the tax assessor directly. It will be paid out of your im ...
Wednesday, September 20, 2017 / by David Mcduffee
One question we are often asked by potential buyers is, “If I buy when the real estate prices are high, won’t I lose money when I sell my home?” We have no way to tell the future, and we can’t be certain what the market will look like in one year, five years or even six months for that matter.
What we do know is this; the real estate market has NEVER had a permanent decline. For example, before our most recent recession (beginning in 2008), home prices were the highest they had ever been. During the recession home prices dropped dramatically, and almost everyone who bought just before the recession paid more than their home was worth when the market declined. This was considered one of the worst recessions in history, largely due to home loan fraud and sub-standard mortgages.
Fast forward to today.. The average home price in many parts of the country, Portland included, has exceeded the previous market high point, and we have personally helped nu ...