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Her rule: “If you compete you can sell, if you’re not willing to compete, you won’t sell.”
Sanders recommends taking “out the obnoxious yellow carpet in the back bedroom... If you’re going to leave in the green shag carpet, why would a buyer buy your house?”
She says it’s been a struggle to convince sellers that there is a different market out there now.
Bellairs agrees it can be a challenge to show people how the national problems are not necessarily the local problems.
“We still have a good market,” he said. “But we don’t have a market like 2005 and 2006.”
In fact, he said, “Oregon has one of the best markets. It’s steady and predictable.”
He says he usually doesn’t have a problem convincing sellers of the necessity of cleaning up their homes. With the exception of the “extremely hot market” in 2005 and 2006, this is what he has always advised.
Sanders recently sold a house on Bull Mountain in less than a week. Of course, it took the sellers around 30 days to get the house ready.
“They did everything,” she said. And it sold.
Another part of looking at the market locally instead of nationally is for sellers to understand exactly what sort of home they are trying to sell.
“It depends on where you are and what you have,” said Sanders.
If, for example, it’s a townhouse up at Progress Ridge in Beaverton, Sanders says, “There are way more townhouses than we can absorb for a long time. It’s probably not going to sell.”
Here’s where the Realtors come in.
“We take your house and look at it specifically,” said Sanders.
Bellairs says most sellers understand that this housing market is “not a market to sit back and hope your home sells. I’m having people coming to me . . . and saying, ‘You’re the expert. I need to listen.’”
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If Portland is so different from other markets, then why does this article sound EXACTLY like what was being published in other markets 6-12 months ago?
Is it really more likely that Portland will be completely different than other places, or is it more likely that Portland is simply late?
"All real estate is local", but the national housing slowdown is now driven by problems on the finance side. And the finance side is NOT local or even national; it is global.
(email verified)
Mon, Aug 27, 2007 at 06:13 AM
Thank God for those valiant professionals at the Tigard Times, tirelessly toiling to clear up common misperceptions, like the national credit crunch affecting the oh-so-special and local OR markets. Especially nice the way they rely on those industry ‘professionals’ for unchallenged and unsubstantiated opinions. Never mind those Gloom-n-Doomers at the WSJ or NYT, corporate journalism and perma-bullishness is alive and well in Tigard!
(email verified)
Mon, Aug 27, 2007 at 06:27 AM
Classic puff piece by a local newspaper highly reliant upon RE advertising revenue. "It's different here/this time" - the most dangerous quote in finance. Go on, sheeple, everyone else is doing it! Prior poster nailed it on the time lag. Portland incomes simply do not support the price multiple (nor do rents). Educate yourself with a focus on independent thought, and save compulsively. Live within your means. Life is a lot more fun reading this stuff from afar than living it.
(email verified)
Mon, Aug 27, 2007 at 07:54 AM
The Portland market is indeed different than nearly all other markets. The biggest difference lies with the presence of the Urban Growth Boundary whose intended purpose is to preserve the amount of open space and farm land through residential density. The unitended consequence is that it helps maintain land prices. New construction prices tend to dictate prices in the Portland market. Since land prices are inflated because of the scarcity due to the UGB new home prices tend to rise. When new home prices rise the re-sale market would fall. We would be in a world of hurt now if there was an abundance of building lots. Maybe the UGB is not so bad.
Beaverton
(email verified)
Sun, Sep 02, 2007 at 11:30 AM
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Re: Local broker: Market here ‘alive and well’
Well it stands to reason, 50 states you know, nothing is going to be the same with all of us. Informitive and well written. Also it was fun to read, and the quotes gave infomation, not just restating what was already said.
"New to Portland"
(email verified)
Thu, Aug 23, 2007 at 01:19 PM