Area Real Estate News & Market Trends

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!

www.hatchhomesgroup.com

Feb. 28, 2019

Oregon SB 608 introduced as nation's first statewide rent control law

Oregon Gov. Kate Brown signs nation's first statewide rent control law

Oregon Gov. Kate Brown signed into law a first-in-the-nation rent control bill Thursday and called on the Legislature to turn its attention to funding new housing initiatives. Because of an emergency clause,

Senate Bill 608′s rent control and eviction protections go into effect immediately.

How does it affect landlords and tenants?

Multifamily NW has provided a document to help landlords navigate the changes with the passing of SB 608. This document was generated by Multifamily NW.

 

Posted in Market Updates
Nov. 20, 2018

You Won't Want to Miss This New Listing

Posted in Market Updates
May 17, 2018

Meet Our Most Experienced Agent, Angela Stevens

 

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.

Posted in Market Updates
Sept. 27, 2017

Join Our Class and Become a Homebuyer Expert

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.

Posted in Market Updates
Sept. 7, 2017

A Few Important Numbers From the Portland Real Estate Market

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!

Posted in Market Updates
Aug. 29, 2017

How I Use Real Estate Conventions to Better Myself for My Clients

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.

Posted in Market Updates
Aug. 14, 2017

We're Hosting a Warehouse Sale

You won’t want to miss this warehouse sale event.

Looking to buy a Portland home? Search all homes for sale here. Looking to sell your Portland home? Use our free home evaluation tool here.

Today I’m excited to announce that I’m partnering up with my client Adrienne to host an event.

At this event, we’ll be featuring items from Adrienne’s online eco-fashion store, Faerie’s Dance.

There will also be a doTERRA essential oils representative and a doctor specializing in whole life wellness plans. Many other female entrepreneurs are expected to attend, as well.

There will also be coffee and cakes provided for your enjoyment.

Additionally, there will be a raffle drawing for various prizes every half hour throughout the day.

“You won’t want to miss this warehouse sale event.”

One prize we’ll be raffling off early in the day will be two tickets to the Street of Dreams.

You won’t want to miss this warehouse sale event, which will take place Saturday, August 26th from 11 a.m. to 5 p.m..

The sale will actually be located at an urban farm I sold about five years ago at 12400 SE Crest Drive, Happy Valley, Oregon.

We hope you see you there.

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.

Posted in Market Updates
July 31, 2017

Curious About Local Real Estate?

Receive the Latest Local Market Stats

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.

Posted in Market Updates
July 25, 2017

What Is Happening in the Portland Market?

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.

Posted in Market Updates
June 19, 2017

What Advice Do We Have for First-Time Homebuyers?

There is a lot that goes into buying your first home. To make things a little easier, here is my list of tips to keep in mind during the first-time home buying process.

Buying your first home can be an incredibly exciting time.

However, it also requires a huge commitment and investment, and can have repercussions in your life for years to come.

That’s why I want to share my three top tips to help first-time homebuyers protect themselves during this crucial period:

1. Know what you can afford The fact is, your mortgage is only a part of what you will need to pay when you buy a home.

Homeownership comes with other expenses as well, including closing costs, taxes, property insurance, maintenance costs, and homeowner association fees.

Once you have a clear idea of all of these items, you can compare this to your stable income and your current monthly expenses.

This way, you can figure out the kind of home you can honestly afford, without getting carried away, and without getting bogged down in debt.

2. Choose your lender wisely Choosing a lender is not something you should base only on the lowest rate.

A competent and trustworthy lender will offer you advice on how to improve your credit.

The right lender will also help you take advantage of special homebuyer programs that might benefit you.

And ideally, your lender will work with you to get pre-approval for your loan. This can strengthen your offer immensely, particularly in hot markets like the one we’re seeing around Portland.

So how do you find the right lender specifically for you?

While it can be a good idea to start shopping online, it’s often best to get recommendations from friends who have already worked with a lender, or from a real estate agent you trust.

3. Don’t overlook the details There are many details that go into buying a home, and missing any of them can be a costly mistake.

For example, I always advise buyers to get a professional inspection (this is separate from an appraisal, which the seller is likely to get).

Yes, an inspection will set you back about $300, but it can save you thousands of dollars down the line, and it can even prevent you from making a decision to buy a home that you would later regret.

A second example is understanding the fine print in the various contracts you will be signing.

If there’s anything that isn’t clear to you, talk to your real estate agent and have it spelled out.

Trust me — there are no dumb questions. The process of buying a home can be intimidating, and that’s why professional real estate agents are there to help.

These three quick tips are only the start of the things you need to watch out for when buying your first home.

If you are simply curious about the kinds of homes that are available on the Portland market right now, check out this complete listing:

And if you need more advice, or you are ready to start looking for a home, get in touch with me at (503) 748-8310. I love working with first-time homebuyers, and I can help you get to your perfect new home with minimum hassle.

Posted in Market Updates