Spoiler: Price it right! Click the link below to watch the video. To cherry pick content, use this timed outline:
0:00 – 0:24 Intro
0:25 – 0:38 The goal – right pricing
0:39 – 1:21 How a home’s value is estimated
1:22 – 2:29 Marking to market in PDX’s current white-hot market
2:30 – 3:56 Marking to market by segments – $1M homes in 97229 are hot, hot, hot
3:57 – 4:40 Overpricing – a mistake in any market
4:41 – 5:07 Underpricing slightly can attract multiple offers
5:08 – 5:32 Buyers need home value estimates too
5:33 – 5:39 Closing
Tis the season for…housing market forecasts! Whether you plan to buy, sell or stay put next year, watch Episodes 5 and 6 of Homing in on Portland to get the jump on the Metro market now
After a remarkable year despite the pandemic, what lies ahead for Portland’s housing market in 2021? Based on a review of some of the best research and forecasts, my 2-part market preview offers insights for homeowners planning to stay put as well as prospective buyers and sellers. Click the play buttons below to watch Episodes 5 and 6 of Homing in on Portland. Once you reach youtube, click the “Show More” links in the descriptions below the screens for timed outlines that enable you to cherry pick content.
Can I help you make real estate plans for 2021? Call or email me at (503) 705-5725 or catherinequoyeser@kw.com
Are you a fan of Portland walks and walkability? Here – in 6 buckets – are tips and resources to learn and enjoy more
Episode 2 of my vlog counts the many ways Metro area walks and walkability enhance our lives. In case you didn’t catch it on Youtube or Instagram, you’ll find the video at the bottom of this blog post. The written tips and resources below are a companion piece. I hope they deepen your understanding and appreciation of where you live.
Bucket 1: Get walk scores
Find the walk score of your home or a listed property if you’re looking to buy. Just enter the address in the search window on this home page
Bucket 2: Learn how walkability affects home values
You’ll find Portland-specific data in the graphics of this Redfin article
Bucket 3: Join a Meetup walking or hiking group and let someone else plan your next outing (outdoor groups remain active in the pandemic)
- Positively Portland architectural history walking tours are a favorite of mine. Eric Wheeler helps you get to know Portland neighborhoods and home styles.
- NW Wilderness
- Trails Club of OR
- Portland Hiking Group
- 55+ Fitness and Fun with Physical Activities
Bucket 4: Buy or borrow guidebooks to memorable walks in Portland and Oregon, some tailored to active seniors and kids
The links below the images will take you to amazon.com, but you may be able to find the e’books on the virtual shelves of your neighborhood public library.
Bucket 5: Brush up on walkability, the 15-minute city, and Portland’s complete neighborhoods
- Global in perspective, this Bloomberg article lauds Portland as model city in car-centric America
- This Bureau of Planning & Sustainability piece defines ‘complete neighborhoods’ and presents the city’s 2035 access goal
- Our ParkScore courtesy of The Trust for Public Land
- Our score and national ranking courtesy of WalkScore
Bucket 6: Last but not least and because a picture’s worth 1,000 words, here’s a slide show of the nature walk just steps from my door – meant to inspire you to get more joy out of your neighborhood or to visit mine
Are you planning to buy or sell a home in Cedar Mill or Cedar Hills? First take the temperature of these neighborhood markets with my quarterly newsletters tracking hot and cold prices, activity and speed!
As Oregon enters a new Coronavirus “freeze,” I’m more determined than ever to provide valuable content across all channels, including Facebook, LinkedIn, Instagram and this website. Public health concerns limit opportunities for face-to-face communication. But video can help to offset social distancing, offering a more personal and compelling alternative to the written word.
So going forward, my blog will do double duty as a vlog. Click the play button below to view Episode 1 of Homing in on Portland. (It’s short and sweet at just under 1.5 minutes.) Then subscribe to either or both of my quarterly newsletters by sending your name and email address to catherinequoyeser@kw.com
Homing in on Portland’s neighborhood housing markets – They’re not easy to track but here’s your guide to Cedar Hills and a leg up on the rest of the west side
The Portland Business Journal has good news for lots of homeowners on Portland’s west side. The zip code 97229 (Forest Heights, Bethany, Cedar Mill) continues to be one of the Metro area’s hottest neighborhoods and 97225 (Cedar Hills & Raleigh Hills) broke into the ranks of the top 10 in the 1st quarter of this year.
I feel fortunate to have had a front row seat on the trends. I recently listed homes in the areas (two in Cedar Hills and one in Cedar Mill) and repped buyer clients in the sale of a 4th in Cedar Mill. On average, the three listings sold in 2.3 days at 99.5 percent of asking price.
I aim to be a realtor of choice for area residents. So last month I created a quarterly newsletter on real estate activity in Cedar Hills. Market data is readily available for cities, towns and zip codes. But that’s not the case for neighborhoods, though they’re probably a more meaningful affiliation for most people.
So my work was cut out for me. I did my best to copy by hand the intricate boundaries of Cedar Hills from the map published by its homeowners association in a small search window on the Regional Multiple Listing Service (RMLS) website. I decided to include two small islands surrounded by the neighborhood (Forest Hills Village and Lynnridge) and two areas on its fringes (Belvidere and 2015-13 Partition Plat). I delivered or mailed Homing in on Cedar Hills to about 300 homeowners and linked it to a Facebook ad for digital access.
While working on the newsletter, I consulted Q2 neighborhood rankings for context. I wondered if 97225 had kept its spot among the top 10. But it proved impossible to track that trend because at the time Portland Business Journal published the so-called “Heat Index” – overall rankings based on equal weighting of volume of sales, speed of sales, and average sale price – only in the 1st and 3rd quarters of the year.
I reached out to Brandon Sawyer, the journalist on the hottest neighborhoods beat, to ask if he could share the info and to suggest that the Heat Index be published every quarter. He not only obliged on both counts, but wrote me into his August 21 article.
It turns out 97229 and 97225 slipped in the overall rankings, taking 6th and 29th place in Q2. Still, not bad. And 97225 took 7th for average sale price – 2 places ahead of 97229.
If I can answer any questions about your neighborhood market or you’d like to “subscribe” to Homing in on Cedar Hills, dear readers, drop me a line (catherinequoyeser@kw.com or 503-705-5725). The next issue comes out in October and I’m thinking of launching a counterpart for Cedar Mill.
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