Agent Profile
Tony and Libby Kelly, MBA, M.Ed. are ranked in the top 1% of REALTORS in Portland Metro. They have been featured on HGTV's "House Hunters" 3 Episodes & "My House is Worth What?" 4 Episodes.
Tax Credit Deadline
Everyone should now know about the economic stimulus package, the credit is good for up to $8,000, or 10% of the purchase price, and applies to people who have not owned a home in the previous three years. Unlike previous credits, this one does not have to be repaid. Obviously this is something you want to get in on if you can, which is exactly the point.
This program ends on Dec. 1st, and because it usually takes around 90 days to close on a house after a contract is signed, some potential buyers are about to let an opportunity pass them by. In fact, many of the best properties are already gone in the lower price points because of those who already took advantage.
Many of the homes left are short sales which are much more difficult than bank owned properties. Because the seller has to get approval from the bank (to forgive a portion of their loan) the process can be extremely lengthy. Getting a bank to simply agree to the sale can take 3 months and by then the deadline will be over.
Many are starting to worry about a Cash for Clunkers effect. Once the credit expires, and the urgency isn’t there anymore, will the housing market start heading back down again?
PLEASE CHECK OUT OUR WEBSITE http//:www.TonyandLibby.com
13672 SW Willow Top Lane, Tigard OR
Spectacular Light and Bright Bull Mountain Gem. This elegantly appointed home features slate tile flooring, vaulted ceilings, cook’s kitchen with custom tile backsplash & wine fridge in center island, two decks with views, modern light fixtures, true designer interior paint/colors, huge lower level family room or fantastic master suite, plus office. Private gated community.
Market Report for Portland, Oregon
Portland real estate inventory dropped to 8.2 months, the lowest level since August 2007 according to the RMLS Market Action report released today. Many say six months of inventory is market equilibrium. Anything higher indicates a buyer’s market and anything less is a seller’s market. Is that an outdated model in a new economy?Monthly average sales price was up from May but median price was down. Average price is now just shy of $300,000 and median is $249,900. North Portland days on market is 93 contrasting Lake Oswego/West Linn’s 230 days. Days on market calculations have changed so there is no comparison to 2008. Southeast Portland has the greatest number of homes sold this year: 1056.
As always the “buy now” question is individual and local. Under the current rules (and no saying they won’t change) the first time buyer credit purchase has to close on or before November 30th. We’ve had buyers lock under 5.0% on 30 year fixed mortgages lately but those rates are VERY dynamic and of course each individual has to qualify. There’s no saying rates won’t drop and prices won’t drop
Market Report for Beaverton
The median sales price for homes in Beaverton OR for Apr 09 to Jun 09 was $236,500. This represents a decline of 0.7%, or $1,750, compared to the prior quarter and a decrease of 15.5% compared to the prior year. Sales prices have appreciated 19.3% over the last 5 years in Beaverton.
The average listing price for Beaverton homes for sale on Trulia was $306,185 for the week ending Jul 22, which represents a decline of 2.5%, or $7,876, compared to the prior week and a decline of 3.1%, or $9,841, compared to the week ending Jul 01. Average price per square foot for Beaverton OR was $149, a decrease of 12.4% compared to the same period last year. Popular neighborhoods in Beaverton include Cooper Mountain – Aloha South, Sexton Mountain, Cedar Hills – Cedar Mill North, West Beaverton, Central Beaverton, and Highland.
Home Inspection before you Close the Deal in Portland
In the past ten years or so, it has become almost a necessity to have your dream home inspected by a registered home inspector prior to closing the deal. Years ago, we went full blast into a house not always aware of its pitfalls and lengthy list of repairs. We are talking about resale homes or homes which have been lived in before in Portland.
A home inspector will come to the house, for a set fee, with his ladder and flashlight, check list and various other tools and do a very thorough search of your house from stem to stern. There will be nothing left unturned from the garage, cellar, septic tank to the roof and all that is in between. There are many different inspectors available and you should shop around and get references. The basic list of checks is available online which should act as a guideline for the basic inspection. The inspector could give you a ball park figure of what it would cost to fix the items or you should hire a contractor to do a written estimate. Every resale home in Portland should have a comprehensive check done.
However, more features of the home need to be checked. A comprehensive check of the home, as part of a conditional offer on a resale home, should be done automatically. This will give the buyers peace of mind that they know what, if anything needs repairs and how much it could cost, based on a contractor’s evaluation. A simple glance at the floors and walls is not enough. Real Estate in Portland is cautioning for better home inspections before a deal is signed.
Make sure that the inspector checks for pests which could eat away and rot the wood in your home, the presence of any chemicals or old insulation such as formaldehyde, asbestos, rodents or any foundation issues below the grade. Pay particular attention to rot, mildew or dampness.
If you find that the house has too many repairs to make and they are prohibitive for you to undertake, the conditional offer may become null and void. Talk this over with your agent and lawyer first. If the repairs are as simple as repairing a set of kitchen cupboards, you might wish to take this on yourself. Remember that there are other houses to look at and it is a buyer’s market right now. The interest rates are phenomenal and the world is your oyster. Don’t feel pressured into buying a house which requires extensive renovations and repairs. Furthermore, if you have the inspection done, and it shows little repair is required, then you can command a higher price in the real estate market in Portland.
Whatever your decision, Tony and Libby Kelly will be pleased to offer their advice on any home or inspection questions.
Checklist for Selling a Home in Portland
When you try to sell your home, try to make it look like no one lives there. It sounds silly, but no one wants to see your fridge door with hundreds of magnets and pictures. Purchasers are not fancy about seeing your laundry on the floor or the baby’s diaper pail full to the brim. So here are some good tips to follow in order to get your house sold in Portland:
1. Paint all rooms a neutral colour if they are brightly coloured. Areas such as bedrooms, bathrooms and so on should be a taupe or beige colour which most purchasers can imagine their own furniture in. In Homes for Sale in Portland everyone can see the potential of your home in neutral shades.
2. Call a junk man or garbage removal company and start loading up the truck. Nothing is sacred, put all unused or overgrown articles in the dumpster or truck. Fill it and fill it again
3. Remove anything that smells old or musty such as old sofas or blankets from the basement. Old clothes in bags or boxes might have a damp and musty smell. Get rid of these culprits
4. Clean up the basement and wash all floors or steam clean carpeting. Repaint any cement floors and fix up the laundry center. Use organizational cupboard and storage units to store all articles.
5. Go through the bathrooms and remove any old prescriptions, old bottles of cream or shampoos, stuff that clutters up the vanity. Everyone takes out their makeup and brushes.
6. Get one bottle of hand wash and use it for hand washing and one set of hand towels that are set out for company. Put all other family towels away in individual bedrooms.
7. Bedrooms must be de-cluttered and all bedding washed and changed. Fresh bedspreads or duvets should be used and all toys and stuffed animals put into storage until after the sale.
8. Put all good items which you don’t need any more into a yard sale. Get rid of old furniture, clothing, kitchen gadgets and appliances, nick-knacks and old books. Make it a neighbourhood sale.
9. Now sterilize the kitchen from top to bottom, including the cupboards, pantry, sinks and counters, fridge, stove and dishwasher. Everything gets a super scrub using a disinfectant.
10. Clean the bathrooms similarly from top to bottom and remove all mould or mildew signs. Tiles and tub should glisten. See your realtor before you redo a bathroom in Portland.
11. The foyer should be free of shoes and backpacks, coats and bags. Pretend that it is the first thing that the purchaser sees and smells and it should pass the test for cleanliness and tidiness.
12. The living room should be free of any magazines or newspapers, ash trays, and used dishes. Polish all furniture and vacuum thoroughly. Spray with Febreeze or another air freshener.
13. If you have a dining room, set up a table of your best dishes and sterling. Put candles on the table and napkins, lower the lights and set up the room as if you were having company.
14. Turn on all lights and open a window in all rooms during the warmer weather or make sure the thermostat is set to 70 degrees for comfort.
15. If you have an air conditioner, put it on low during the cool seasons and full during the hotter days of summer. Portland homes for sale can weather any temperature.
16. Put out a vase of flowers, make a dozen cookies before the viewing or Open House. Now ask a neighbour or friend to go through the house and make comments or suggestions.
17. Do whatever it takes, inside or outside, to put your house on the market and get it sold! Good Luck! See your realtor when listing your home for sale in Portland.
Ask Tony and Libby Kelly any questions you may have when getting ready to sell your house. They have years of experience in the Portland area. You will get a better price if you follow the advice above.
Be Energy Efficient in Beaverton
This summer make sure that your house is kept conditioned in every sense of the word. Here are the main sensible ways in which you can avoid huge energy bills during the summer.
· Make sure your central air-conditioning system runs efficiently by keeping it clean. Have it checked annually by a professional in your real estate area of Beaverton
· Keep the air-conditioning off during the day while you are at work. Turn it on just before bed-time to cool the house down before retiring for the night.
· Clean or replace your furnace filter at least every 90 days, even during the summer, since your A/C uses the furnace’s motor. Clean filters can save up to 5 per cent in annual energy use. This will assist in saving money to put toward your new home in Beaverton.
· Install a programmable thermostat, which is more accurate than a mercury-filled one and adds flexibility in warming and cooling. Set the temperature above 25 degrees or higher in the summer to save on energy costs. If you want it cooler, consider that every degree below 25 degrees could add an extra 3 to 5 per cent to your energy bill.
· Turn off the lights, ovens and coffee makers when they’re not needed. Your A/C unit will thank you for it, as it will have less hot air to contend with.
· Close doors and windows. Don’t let warm air in and cool air out. Keeping drapes closed on sunny days can save on electricity costs.
· Shade the windows. Awnings, trees and shrubs can also help to reduce A/C costs. Look at Homes for Sale in Beaverton
· Dust off those ceiling fans. Turn them on before turning up the A/C to help lower the temperature.
· Open the windows at night when the breezes and cooler air can help to lower the house temperature. Close them and the drapes in the morning to keep the cool air inside.
· Ceiling fans are still a bargain for bedrooms and living rooms. Check the building recycling stores for older models
· Don’t keep opening and shutting the fridge or freezer doors. Take out all the ingredients you will need for a meal and then keep the door shut.
· Have cold drinks in a jug with ice on the counter for children to help themselves. Water is the best!
· Children and seniors should stay in the shade, have plenty of drinks and cold treats and have a fan nearby when sleeping
· Pure cotton, linen or silk clothing is the best to wear during a hot, humid day
· Let babies have a nap in a diaper only when it is hot and humid
· Have a quick cool shower instead of a hot bath.
· Allow children to play in a wading pool or a sprinkler for the lawn with an adult supervising
· Water your lawn on the days allowed and in the evening to prevent burning the grass
· Enjoy the summer, ride a bike and have a picnic supper! Your new home is Beaverton will be a treat this summer and autumn.
Make sure you talk to Tony and Libby Kelly who showcase homes in Beaverton. They have been featured on the HGTV “House Hunters” and “My House is Worth What”
Accept an Offer on your House in Beaverton
Six tips that will give you the 23confidence to know when to accept, reject or counter an offer on your home.
Review the bidding price for your home in Beaverton
Unless there is a hot prospect looming on the horizon, most real estate agents will suggest accepting an offer if it is within three to five percent of your asking price.
· Consider the buyer’s contingencies for a sale in Beaverton
They may only want to buy your home pending its inspection, the sale of their house or other conditions such as repairs or inclusion of appliances. You can negotiate these points by presenting a counter-offer.
· Determine the buyer’s ability to pay for a home for sale in Beaverton
A lender qualification letter will reveal if the buyer has the funds to make monthly mortgage payments.
· Carefully review any seller-binding stipulations in the contract
Pay special attention to escape clauses that allow the buyer to cancel the deal and walk away.
· Make sure all agreements between you and the buyer are in writing for any Property for sale in Beaverton
The purchase agreement should state any conditions and agreements such as inclusion of the refrigerator or repairs to the home. The maximum amount you’ve agreed to pay for repairs should also be included.
· An accepted offer becomes a binding contract when you are interested in real estate in Beaverton
There is no way to change your mind without both the buyer and seller agreeing to all changes. Be sure you understand the entire Offer to Purchase document and all the clauses. If you are in doubt, have your lawyer review an offer before you sign your acceptance.
You can always trust the word of Tony and Libby Kelly who will work tirelessly for you when it comes to finding a home in Beaverton, Oregon.
Looking Up
It looks as thought the housing market maybe turning around. Home prices posted their first quarterly increase in three years. The Standard & Poor’s/Case-Shiller’s U.S. National Home Price Index released Tuesday rose nearly 3 percent from the first quarter.
Home prices are about the same level as early 2003. While this is much lower than the peak in 2006, those numbers were inflated anyway.
Las Vegas and Detroit were the only two of the 20 city index that did not see home prices rise, while Dallas and Denver clocked their fourth-straight monthly increase.
We still have a long way to go to recover completely because all 20 cities still show annual declines, but it is nice to take a step in the right direction.
http://www.oregonlive.com/business/index.ssf/2009/08/index_shows_quarterly_increase.html
PLEASE CHECK OUT OUR WEBSITE http//:www.TonyandLibby.com
The Bright Side
Homes have not been this affordable in nearly two decades. In the second quarter of this year the typical American family, making the nation’s median income of $64,000 a year, could afford to buy 72.3% of all homes sold in the United States. The same time last year it was only 55% of homes. This affordability, combined with the federal tax credit and historically low mortgage rates, is drawing in the first-time buyers.
Affordable specifically means a family making the metro area’s median income who devote no more than 28% of their take-home pay toward housing costs.
The reason for this affordability is that home values have dropped. 30% of all homes sold during the second quarter went for less than what the sellers originally paid. This was mostly the newer home owners who had bought in the last five years when prices were rising rapidly.
So although home owners have watched the value of their investment plummet, the silver lining is affordable housing. Affordable housing means interested buyers. Interested buyers means an economic recovery.
PLEASE CHECK OUT OUR WEBSITE http//:www.TonyandLibby.com
Portland OR Market Report
July Residential Highlights
Closed sales in the Portland metro area for July 2009 eclipsed last July’s total by 8.6%, marking the first time same month closed sales have increased since April 2007. Pending sales also grew 8.3%. New listings dropped 25.4%. Comparing July 2009 with June 2009, closed sales increased 11.9% (1,988 v. 1,776) and pending sales were up a slight 0.3% (2,170 v. 2,164). New listings fell 8.2% (3,907 v. 4,257). Inventory was down to 7.3 months, dropping for the sixth consecutive month, down from 10 months last July. Inventory is falling at a time where it has historically risen. Along with an upswing in closed sales, the drop can be attributed to the fact that the number of homes on the market (14,503 in July) has seen little fluctuation in 2009
Year-to-Date
Comparing January-July 2009 with the same period in 2008, closed sales are down 18.7% and pending sales decreased 10%. New listings dropped 23.4%.
Sale Prices
The average sale price for July 2009 was down 15.2% compared to July 2008, while the median sale price declined 13.3%. Month-to-month, the average and median sale price were mixed when compared with June levels; the average sale price was down 3.7% ($288,600 v. $299,800) and the median sale price was up 0.04% ($250,000 v. $249,900).
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Keller Williams Realty Portland Premiere
17700 SW Upper Boones Ferry Rd
Portland, OR 97224