You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!
Welcoming a new team member to the Hatch homes Group
LeAnn Raschke comes to Hatch Homes Group as a newly minted residential real estate agent with a well rounded background which includes construction management, commercial real estate and property management, wedding and event planning and small business ownership. With this experience, LeAnn is well versed in guiding clients through life’s largest landmarks, with a heavy focus on project management and contract negotiation.
Hailing from the great state of Wisconsin, by way of Washington and California, LeAnn is a midwesterner down to the core but Portland, OR is truly where her heart resides, along with her husband and two rescue pomeranians. Having lived in Portland for a little over 5 years, LeAnn has spent many of them exploring all of Portland Metro for the best bites, brews and views and can definitely give you pointers when you choose to settle into your new home here.
As your agent, LeAnn prides herself:
In her ability to predict and problem solve roadblocks that may present themselves during the home buying or selling process
In her direct and effective communication style, allowing no questions to go unanswered
In her passion for historical architecture, which can help you find your diamond in the rough
As a professional real estate agent, LeAnn understands that buying or selling a home is more than just a transaction, it’s a life-changing experience and she is dedicated to providing exceptional, personalized service by relentlessly working on your behalf to help you achieve your real estate goals.
This month John and Melody are visiting family in UK and currently spending a week in Ireland. Real Estate is considerably cheaper in most places in Ireland and with land prices being lower the homes outside the cities are considerably bigger than in England. We are struck with the cleanliness and how most yards are well maintained and with the plentiful rainfall everything is very green. It is also interesting that many large homes do not have garages designed to keep cars in. Ireland had the longest boom in Europe up to 2008 and the biggest bubble burst and subsequently has big lending restrictions (like Canada) which will probably keep growth more stable in the future. Interest rates however are considerably cheaper than in the USA (as they are in the UK). The big concern is what will happen with Brexit in a couple of months which, in Ireland is a particular concern as Northern Ireland is part of the UK and the remaining bulk of Ireland is independent and will remain as part of the European Union. If you are thinking of investing in Real Estate anywhere out of Portland then contact us as we have numerous contacts outside Oregon and the USA.
Our Current Listings! ⬇️⬇️⬇️
7017 SE 28th Ave, Portland, OR 97202 Price: $839,900
Picturesque Eastmoreland home, just blocks from the hot Westmoreland shops. Fantastic floor-plan with bedroom plus full bath on every level! Entertainers dream with living room opening up to yard and pool. Finished Basement with sealed concrete floors.
8170 SW Ridgeway Dr, Portland, OR 97225 NEW Price: $675,000
Lovingly maintained mid century home in great, desirable location. MAIN LEVEL LIVING, beautiful hardwood floors, big windows, retro charm, bonus art studio with separate entry to the private yard. Enchanting rear patio to enjoy quiet summer evenings shaded from the sun. Rare .42 acre lot with mature groomed landscaping and fruit trees for all the family to enjoy. 2 blocks from park, pool and library, easy commute.
3125-3135 SE Van Water St, Portland, OR 97222 Price: $1,524,000
Do you know someone that wants to start a restaurant? Run a venue? Live in a magical property and get rental income at the same time?
Please share our amazing Moroccan Oasis Compound on the border of Portland and Milwaukie. Owner contract available, please reach out to Angela for more information.
11830 NW Holly Springs Ln Unit 304, Portland, OR 97229 Price: $269,900
Was a model home with designer interior finish package. Gourmet kitchen with slab granite bar, tile counter tops with mosaic glass and tile backsplash. Attractive cozy fireplace and good light. Fridge, washer and dryer PLUS moveable A/C unit included. High demand location with good access to restaurants, coffee shop, market of choice and transit center! Large master. Light and bright. Covered deck with generous storage. Lovely quiet unit.
2211 SW 1st Ave Unit 202 Portland, OR 97201 Price: $419,000
BEST VALUE FOR 3 BEDROOMS DOWNTOWN! Corner unit with West & Northeast views. Two balconies- all bedrooms have access to a balcony! Open dining and living room with pass-through bar to kitchen. New paint and flooring in baths and kitchen. Desirable Lincoln tower with pool. Complex has secured entry, 2 pools, parking and more.
Sold this month! ⬇️⬇️⬇️
13711 SW Silent Fox Ter, Sherwood, OR 97140 SOLD $312,900
508 SE Bronte Way, Hillsboro, OR 97123 SOLD $305,000
5919 SE 99th Ave, Portland, OR 97266 SOLD $376,000
9824 SE Kela Ct, Happy Valley, OR 97086 SOLD $464,200
13379 NW Payne Dr, Portland, OR 97229 SOLD $742,600
Did you miss our latest American Dream TV episode?
With over 41 thousand views, our first episode of the American Dream TV was a success! Angela and Michele are having a blast talking about their 2 passions- Real Estate and this fine city. We would love for you to watch our latest segments! Follow us on our Facebook page https://www.facebook.com/hatchhomes/ We will have a new episode once a month! If you know anyone that wants their home and neighborhood featured on TV, please let us know!
Did you know Angela, Michele, and Jennifer have several episodes of their podcast show now?
Have a listen here and find them on Spotify, Soundcloud and Apple podcasts, Please subscribe, comment/like and share too! Thanks!
Metropolitan Monthly Market Update
July Residential Highlights Closed sales had the strongest numbers this July in the Portland metro area. At 2,994, closings outpaced July 2018 (2,736) by 7.6% and June 2019 (2,756) by 6.8%. This was the strongest July for closings in the area since 2015, when 3,452 closings were recorded. Pending sales, at 2,998, fell 2.4% short of July 2018 (3,071) and 2.8% short of June 2019 (3,083). Similarly, new listings (3,966) ended 8.0% under the 4,312 offered last year in July 2018 and 7.4% under the 4,281 offered last month in June 2019. Inventory decreased slightly in July to end at 2.3 months. During the same period, total market time rose by one day to 43 days. There were 6,797 active residential listings in the Portland metro area this July. Year to Date Summary Activity is mixed so far in 2019 compared with 2018. New listings (26,629) are up 0.7%, while pending sales (18,778) are down 2.3% and closed sales (16,903) are down 3.1% Average and Median Sale Prices Comparing 2019 to 2018 through July, the average sale price has increased 1.0% from $453,600 to $458,300. In the same comparison, the median sale price has increased 2.0% from $400,000 to $408,000.
Portland Market Trends
Trends in Portland show a 1% year-over-year rise in median sales price and a 0% rise in median rent per month.
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As our most experienced agent, Angela Stevens is a vital member of the Hatch Homes Group.
Angela Stevens has served the Hatch Homes Group for 10 years and, after Melody and I, is our most experienced team member. She also happens to be our daughter.
Angela started off as a transaction coordinator before handling the marketing for our listings. She then did a lot of short sale negotiations as the market bottomed out, which educated her about distressed properties. A few years after that, she decided to get her real estate license and become a buyer specialist. This transition helped her focus on working with both buyers and sellers and she feels this is the reason she can net sellers more money on their home sale.
“We’re proud of the contributions Angela has made for our team.”
Angela chose real estate because it allowed her to combine her passion for art and creativity and her passion for entrepreneurship. She loves the architecture of houses and the design aspect of the real estate business, and this industry fulfills her desire to be a businessperson.
We’re very proud of Angela and the contributions she’s made to our team. Last year, we made her a partner of Hatch Homes, and now she’s being appointed team leader. In this new position, she feels that her experience will enable her to carry on her knowledge and educate the people she interacts with. She looks forward to strengthening her relationship with her team so they can do better and, in turn, help her do better and lead by example.
If you have any questions or are looking to buy or sell a home in our market, don’t hesitate to reach out to us. We’d be happy to help.
On October 21st, Michele Descombes will be teaching a class instructing homebuyers about the home buying process and discussing what they need to know about our market.
On October 21st at the Umpqua Bank in the Pearl, Michele DesCombes will be teaching another home buying class.
This class is intended for anyone who is interested in buying a home, whether you’ve owned one before, it’s been awhile since your last purchase, or this is your first home purchase.
During this session, Michele will be covering a lot of great information about our market. As you might’ve noticed, it’s has shifted a little bit in favor of buyers, even though inventory is still a little low. She’ll also discuss what your options are in the home buying process as well as which loan programs are available for first-time homebuyers or low-income buyers who can qualify for a grant.
“All types of homebuyers are welcome to join us.”
If you’re renting right now, you’re probably paying at least 30% of your income on your rent. If you were to purchase a home using a grant program or any of the fantastic loan programs available out there, you could pay as little as 15% of your income.
Michele will be teaching with Mac Dengsot of Umpqua bank, a home loan specialist. They both can answer your questions about anything regarding the process.
To find out how, all you have to do is sign up and register here. We hope to see you there!
If you have any questions, don’t hesitate to reach out to us. We’d love to speak with you.
What is happening in the Portland real estate market? We have six important statistics to share with you today.
It’s time for your Portland real estate market update. There are a few important market statistics that we want to share with you today.
First of all, there are 98 bumpable listings on the market right now. That means that these listings are contingent on something happening on the buyer’s or seller’s side of the transaction in order for the sale to go through.
This is really important. In the past, sellers have been cautious about contingent home offers. Most of the time, sellers would wait to find their next home before putting their current home on the market. It’s very promising that there are 98 bumpable listings. With all of those contingent offers, we’ll likely see 98 new homes hit the market soon, which is good news for buyers.
Next, there are 197 expired homes. That means these homes failed to sell in the last few months. As your agents, we look at why those listings failed to sell so that you don’t end up in the same situation.
Another important thing to know is that 612 homes are back on the market. Buyers these days are more particular on what they want from a home. They expect the home to be in good condition for a certain price. On the other side, sellers are not willing to negotiate repairs, so these deals are falling apart and those homes are coming back on the market.
That is great news for buyers. Those 612 homes increase inventory. Plus, you may even get a second chance at a home that you liked earlier but didn’t get a chance to make an offer on.
“There is a disparity between buyer’s expectations and how sellers view the current market.”
Sellers should take note that in the last week alone, we had 783 price changes. Although Portland is still in a strong seller’s market, it’s not as strong as some people may think. You can’t overprice your home in this market, and those 783 price changes prove that. We’re here to guide you. We can help you avoid that price adjustment by pricing your home correctly from the start.
Finally, the number of closed sales in July dropped by 12%, while the number of pending sales dropped 7.9%.
All in all, these numbers indicate that our market is shifting into a more balanced, healthy market. We are not in the housing bubble that everyone feared. Prices are still very healthy, and inventory is still fairly low, which makes it a good time to sell your home.
That said, these numbers do show a disparity between buyer expectations and what sellers believe they can get out of the current market. Don’t forget those 612 homes that went back on the market after their deal fell apart.
As we mentioned earlier, there is slightly more inventory for buyers to choose from these days. Make sure you take advantage of the updated inventory and low mortgage rates now.
If you have any questions about buying or selling in our current market, just give us a call or send us an email. We would be happy to help you!
How do real estate conventions help my team and I perform better for our clients? Today I’m bringing you those answers from one I recently attended in Las Vegas.
Today I’m in Las Vegas at the Tom Ferry Success Summit—a real estate convention.
Real estate conventions are something we engage in frequently because doing so helps us maintain our constant commitment to being on the cutting edge of real estate.
Technology is a large portion of this. In fact, Zillow, Google, and others are here at this same convention, where I have been for the past week.
“My team and I have a constant commitment to being on the cutting edge of real estate.”
It’s incredibly important for us to make our buyer and seller transactions even smoother.
One of the ways we achieve this is by networking with other Realtors. Recently, for example, I sat down for a drink and conversation with an HGTV star who actually works in Portland.
Being face to face with these fellow professionals really helps me to build a larger database. This means that whether our clients are looking to move to another state or even another country, I can help refer them to the right agent.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!
Get Local Market Reports Sent Directly to You
You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.
We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.
Now that we’re halfway through the year, I sat down with my daughter, Angela, to give you a look at what’s happening in our market.
Now that we’re over halfway through the year, it’s time for us to take a look at what’s going on in our market. Recently, I was joined by my daughter Angela, the team leader for Hatch Homes Group, to talk about why it is that Realtors are feeling a little bit uneasy about certain aspects of the market.
The number of days homes are spending on the market has risen a little bit, more listings have come on the market, and there have been more price reductions, as well. So why is all of this happening?
As Angela explained, it’s likely caused by an uptick in inventory. She also mentioned, though, that homes that aren’t priced correctly are the only ones really having a problem getting off the market. Homes that are priced right are moving as quickly as ever and with record-low inventory.
Buyers are more discerning, as well. Right now, buyers are less willing to settle for a property with problems. So, poorly-prepared homes are really struggling when it comes time for them to undergo inspections. For this reason, we’re experiencing a lot more terminations.
“Homes that are priced right are moving as quickly as ever.”
This is what makes it so important for sellers to meet with realtors; doing so can help them avoid termination.
With all of this considered, many people are wondering if we’re in a bubble. Well, we actually saw this same thing happen last year. According to Angela, there is cause to be optimistic.
Sellers who were trying to buy and sell at the same time are now finding themselves in a good position, as there is a little more inventory for them to choose from. The same can be said for buyers, as well.
In fact, this is a better opportunity than we’ve seen for buyers in a long time. It’s also a good opportunity for sellers to get the most out of the market. And, because so many people are attracted to the lifestyle, we’re continuing to see an influx of population here in Portland.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.