Four Easy Ways to Add Value to Your Portland Home

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 With the spring selling season in full swing here in Portland, I wanted to share four inexpensive ways to add some value to your home. These things can easily be done right before a sale, and they can put some extra cash in your pocket at closing.

1. Appliances: Many of our homes have older appliances within them, and you might be surprised at how inexpensive it is to get new appliances. A company I know of called ABT is able to swap out all of your appliances to get you the stainless steel that buyers like to see these days. 
2. Painting: This may be one of the easiest ways to add value to your property. Fresh paint is an extremely cost-effective way to add value to your home, and can go a long way to make buyers believe that your home is brand new. Just make sure that colors throughout your home are uniform, and buyers typically prefer lighter earth tones. 
3. Staging: We provide a free stager when you work with us, and she will come out to arrange your home in an enticing way. Homes that are dolled up and staged often sell for more money than homes that have not been altered prior to selling. This is a fantastic way to put some extra cash in your pocket at closing.
4. Depersonalize and declutter: Buyers don't like to see messy homes, and they also need to imagine themselves living within the space of your home. Cleaning up and organizing your home can go a long way towards making potential buyers feel more comfortable within your home. Remove any collections of photos, art, or other personal items. You don't need your home to be empty, but don't let your particular lifestyle be readily apparent to everyone who walks inside your home. 

As you prepare to sell your home this spring, I hope that these tips will be able to put some more money in your pocket. Often times the repairs that you think might net you more money are not the ones that you need to be making. Be sure to speak with us before your home sale so you don't waste your money on unnecessary repairs.

As always, consider me your #1 resource for real estate in Portland!

How Does Portland Real Estate Compare to the Rest of the Country?

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Today I will be discussing something a little different than what I usually cover. Today I'll be discussing the S&P Case-Shiller Home Price Index Report. This report covers the entire US, so we can compare our Portland market to the rest of the country. This report is made up of 2 composites, a 20-city composite and a 10-city composite. Portland was part of the 20-city composite, which makes it pretty fascinating to me.

Some of the highlights of the report were:

• On average, the cities in the study appreciated by an average of 4.5%
• The report also shows how the housing recovery is slowing down, but this should not be alarming because the recovery has been swift as of late
• In the last twelve months, the Portland market has appreciated by 6.8%
• In 2015 I think we could expect appreciation right around 5% in the Portland area, which is a healthy amount of appreciation

Hopefully you have found this information helpful, and if you have any other questions, please don't hesitate to contact me.

Why Now Is the Time to Buy

Selling your Portland home? Check out our free home value report
Buying a Portland home? Search all homes for sale

  

Affordability is at an all-time high right now. Interest rates are low (below 4%), and loan products from Fannie Mae and Freddie Mac are allowing consumers to buy with only 3% down. Even rates for private mortgage insurance have dropped, and this can save you thousands of dollars over the life of your loan. It's difficult for me to imagine a better time to purchase, and on top of these financial incentives, I have five more reasons why owning a home is beneficial to you.

1. Home ownership leverages your money: If you purchase a home, it's likely going to appreciate in price, so you own an investment that you should make a profit on. Other than regular maintenance, there is not a whole lot you have to do to profit off of this investment. 
2. You're paying anyway: You have to pay for housing either way, so why help to pay off someone else's mortgage when you rent a home? When you own a home, your monthly payments go towards an investment that you can gain equity in.
3. It's a forced savings account: You're making a monthly payment, a portion of which goes toward your principal balance, and in 15 or 30 years, you will have the savings of your home's value. 
4. Tax incentives: Property taxes are deductible, and mortgage interest is tax-deductible. There are many tax cuts that you receive when you own a home as opposed to when you pay rent on a property. 
5. A home protects against inflation: When inflation occurs, your home gains value, so your equity increases and your wealth does too.

If you're renting right now, I highly suggest you start considering a home purchase. Homes are wonderful investments for the future, and there are actually a lot more benefits to home ownership than I could discuss in the time frame of this video.

If you need any help with buying or selling real estate in the Portland area, please feel free to contact me. I'm always happy to help!