South Hillsboro Project - Update!

By now you've probably heard of the South Hillsboro Project.  It's the section of Hillsboro south of TV HWY, between 209th and 229th, that BIG area of farmland.  It's 1400 acres that will soon be everything from apartments, to senior living, condo and townhomes, detached homes, as well as retail, offices, even schools and parks.  South Hillsboro is going to have it all.  I posted a blog article on it about a year ago, check that out here.



Check out the full map and all the details at the City of Hillsboro.

South Hillsboro, otherwise known as SoHi, is going to have 8,000 dwellings!  That's likely to be over 20,000 people!  Fifty-seven percent of the homes will be single family detached homes with lot sizes ranging from 3,500 square feet to 10,000 square feet.  Twenty-two percent will be single family attached homes (condos and townhomes) and 21% will be multi-family homes. They will be putting in three grade schools, a middle school and possibly a high school.  It's going to be a mixed use community, kind of like Orenco Station with commercial and residential together, a focus on high performance homes and access to public transportation.   

They are partnering up with Energy Trust of Oregon for cash incentives, Solar World for solar kits to builders at reduced costs, Oregon Department of Energy for energy tax credits, PGE for Nest Smart Thermostats Pilot Program and electric vehicle ready charging infrastructure and Earth Advantage for technical assistance outreach and training.  Wouldn't it be great if they could get those new glass tile roofs from Tesla! 

A couple of the developers are Newland Communities and Pahlisch Homes, but there are many more.  Before any of the homes can be built, the intersection at Cornelius Pass has to be completed.  This means taking the current intersection that tees at TV Highway and punching it over the railroad tracks and into the new SoHi development.  Once that is completed, they'll be able to start on construction.  Here's the current expectations for the first five years of construction.  Keep in mind that this timeline has evolved more times that we can probably count, but this is what the current plan is.

First 5 Years:	2017	2018	2019	2020	2021	Total
SingleFamilyDetach	226	265	285	202	202	1180
Condo/Townhomes	148	160	164	181	181	834
Apartments	124	123	123	108	108	586
Retails/Office	27,000	26,000	26,000	23,700	23,700	126,400

With 500 residences scheduled the first year, this is going to increase the housing market considerably! 

In order to have this new section of Hillsboro, the city is going to be improving and changing some of the intersections in that area.  In 2017, the intersection at 229th and TV Highway, by the Fred Meyer and Key Bank, will be a cul-de-sac south of the railroad tracks and will no longer go across TV Highway.  The intersection at 209th and TV Highway, which is currently very congested, will get widened in 2019.  They are also planning on widening Cornelius Pass north of TV Highway to Johnson in 2019.  Finally, the intersection at Century and TV Highway will get worked on in 2020. 

The South Hillsboro Project is going to completely change the face of Hillsboro.  Basically they are adding a small town into an already existing one.  It sounds like they are going to have high standards and make this a community that anyone would be proud to live in!  There's even talk of a Street of Dreams in SoHi too.  I can't wait to watch the community grow.  Next time you're driving down TV Highway between 209th & 229th, look at the farmland to the south and you'll see that the dirt work has started!

Interested in more?  Check out my live video:

7 Rules When Shopping For a Home

We all want to be courteous and follow the rules when looking for that perfect home, but sometimes we don't know what's the right and wrong thing to do.  The first thing that people often fumble on is taking off their shoes.  Remember, when you enter a home that's for sale, you are just one of many people that will be touring that home.  That's a lot of foot traffic and to keep that home looking great, take those lovely shoes off!  Here's the exception - if you look around and the carpet has more stains than a frat house, then this rule doesn't apply.  Leave your shoes on and protect your socks!

To open or not to open, that is the question.  Buyers frequently ask me if they can open that closet door, or if they can look into the pantry or kitchen cabinets.  The answer is yes!  As a buyer, it's important to understand the house that you want to buy and that means all the little spaces too.

When deciding to walk into the backyard, look first to see if the grass has any landmines you need to avoid.  Just because you don't have a dog and have a spotless yard, doesn't mean the sellers are in the same situation.  The last thing you want to do is step in doggie doo or even worse, track it back inside the house!

Be careful of what you say.  I often hear clients talking about what they want to pay for a house or other sensitive information in places that might be overheard by a neighbor or even the seller themselves.  It's best to hold off on sensitive conversations until back in the car or at the Realtor's office. 

Leave no trace behind.  You know the old saying when you're in the woods, that you should pack out what you pack in? It's similar for home shopping.  When you enter a seller's home, you don't want to leave any of your personal belongings or trash.  I can't tell you how many times I've seen people almost leave their cell phone behind!

Here's the question that people are usually embarrassed to ask.  Can I use the restroom?  The answer is yes!  No one expects you to hold it all day while you tour home after home.  However, check to make sure it works first.  There's nothing worse than using the restroom, only to find out that the water has been turned off or the plumbing is broken.

Last, but not least, be careful where you walk inside and out of a home.  If that deck doesn't look like the most stable piece of craftsmanship ever, then be careful walking out on to it.  It's not your home, so you don't know where the tricky spots are; you want to watch out for the rickety handrail or the steps to the basement that look like they might not hold the weight of a fly. 

Shopping for a home can be endlessly entertaining.  Knowing how to avoid the basic mishaps will keep you having fun and protect the seller's home at the same time!

Think Twice Before You DIY

I love watching the DIY Network, for the uninformed that's Do It Yourself.  I could watch it for hours and get a few neat ideas of things to DIY, but most of all I like laughing at all the ridiculous things that people do.  I'm not an electrician, nor am I a plumber, so I'll never try to replumb my bathroom or rewire my kitchen.  It's important to know one's limitations, mainly because I don't want to fry myself or flood my house.  I also happen to know many good contractors who can professionally do these things for me!

Before you DIY, consider this helpful TRICK.  Time.  Resale.  Insurance.  Cash.  Knowledge.  Do you have the time to do the project right?  Think this one through realistically.  However long you think this project is going to take, double it.  DIY projects can be a pain in the-you-know-what and they always take longer than you expect. 

If you do it yourself, is it going to effect the resale of your house later on?  When you go to sell your home, do you think the buyer's inspector is going to call out any of those DIY projects as not being done correctly?  Or what happens if you do an addition that needs permits and you don't know it at the time, so you fail to get the permit?  That is probably going to cost you when it comes time to sell. 

Insurance is one you may not think about, but what happens if you accidently flood your house while doing plumbing fixes or hurt yourself while trying to use a saw?  You laugh now at the ridiculous nature of this, but it could happen!

Cash in the bank is not only necessary, but you're also going to need more than you think.  Unexpected things come up in any project, just ask a contractor.  If you're trying something for the first time, you're more likely to have unexpected things come up because it's all new to you.  If you are going to take on a project yourself, allow for extra money in your budget to cover for the unexpected.

Last but not least, do you have the knowledge to actually do this project?  I'm not a cabinet maker nor am I the best mathematician on the planet.  I know enough to know that accuracy in measuring is paramount and you know what I would never DIY?  Kitchen cabinets.  I'd leave that to the professionals. 

DIY can be an excellent way to save money.  But make sure to evaluate the TRICKiness part of your project before you get started!  If you do decide to take on that bathroom make over, think about donating that old bathroom vanity to Habitat for Humanity.  It's a tax write off, you don't have to pay to trash it and it could help someone in need. 

Now for a good laugh, check out these DIY fails of DIY gone wrong, oh so wrong!

Style Matters - What's hot in 2016

One of my favorite things about my job is getting to see all sorts of homes, with every type of floor plan and decorating style.  It's fun to observe what works and doesn't work.  There are the obvious no-no's that we all could point out - like don't paint rooms in hideous colors or have so much furniture in a room, that you practically have to walk through it sideways.  However, focusing on positive ideas to freshen up your home are fun thoughts indeed!

Caught in the center of attention lately are three things: eccentric lighting features, barn doors and the mix of combining earthy materials like wood, metal and stone.   All you have to do is go to this year's Street of Dreams in Tumwater at Pete's Mountain and you will see these themes all over each of the five spectacular homes.   I was in awe at all the unique lighting features throughout the five mansions.  It was almost like they couldn't stand the thought of having a simple ceiling light.

 

Each of the homes used track style barn doors in various innovative ways.  We've seen these becoming more popular and often used as closet or pantry doors, but now they are edging into every room of the home.  They are the primary doors of bedrooms, or right at the top of a grand staircase separating off the den, looking both stunning and functional.  If you've been thinking about changing out a bedroom door, why not think about a barn door? 

 

Last, but not least, I've always been a fan of mixing different types of styles or materials.  There's something about having stone and wood together, making each one better than they would have been by themselves.  Anytime you can bring the warmth of wood and combine it with the crisp lines of metal or take the jagged edges of stone and tie them in with big strong beams, the result is lovely! 

 

If you want more ideas, head on out to the Street of Dreams.  The name very much implies where your mind will go.  You'll be dreaming of all the unique ways to dress up your home!

   

Summer Selling Tips and Tricks

If you're thinking of selling your home this summer, here are four things to do that could help your home sell fast and at a price that sizzles!

Tip one, the week or two before you list your home, have a garage sale.  A garage sale is not only a great way to de-clutter your home (because too much stuff is never good), but it's also a great way to get the word out that your house is for sale!  Make sure and chat up the people who come through the garage sale and let them know that your home will be listed soon.  Have your realtor's card handy (keep a stack ready), so that you can pass them out to anyone who seems interested in your home. 

Second tip, water your lawn.  You don't have to have a lawn that's right out of HGTV, but you do want to make it look like you care.  Keep it green and mowed!

Third big tip, make your yard just as inviting as the inside of your home.  Even if you aren't a big gardener, plant some flowers (and don't forget to water them).  I know you won't be around to benefit from planting a garden, but prospective buyers love it!  Who wouldn't love moving into a new home that already has some tomatoes growing.  Summer is the easiest time to make your home have great curb appeal!  

Lastly,  keep your home cool!  Buyers are out seeing lots of homes and it can get exhausting, especially in the summer heat.  Let them experience a cool retreat when they open your front door.  If you have AC, keep it at a cool, inviting temp.  If you don't have AC, open the windows in the evening and the morning to let out the warm air and let the cool air flow in.  Keeping buyers pleasantly cool while they tour your home keeps them comfortable and more interested. 

Keep your cool and you too can sell your home with ease this summer!

Do you need a Realtor®?

The real estate market is speeding along, homes are flying off the shelves and people sometimes ask "why do I need a real estate agent?"  So, why do you?  Why not just try and sell the home yourself?

 

There are all sorts of boring stats that I can throw at you (some of which I've thrown at you before), but I actually want you to read this article and I fear that stats will just make you skip right over this and on to something more exciting.  The nuts and bolts of it is, do you know HOW to sell your home?  Do you know all the steps that are necessary to keep yourself out of trouble?  A Realtor® does more than just putting up a for sale sign in your yard.  

It's a Realtor's®  job watch out for you and make sure that you cross all your T's and dot all your I's.  I know all the forms and documents that you need to deliver to the buyer's agent.  I know each and every deadline that is important to both send and receive things by.  It's my job to watch your back and make sure that if the buyer doesn't get their repair addendum in on time, that you don't have to pay for any unnecessary repairs.  
 
A Realtor® not only does research on what your home can sell for, by looking up details on past comparable sale prices but also weighs out condition, location and amenities that can sway the flat numbers.  Trying to determine the value of your home by going it alone, or using Zillow, can be a huge mistake.  Huge.  Did you know that Zillow admits that they are off by more than 6.8% on half of their estimates in the Portland area?  That means that if you have a $400,000 home, Zillow's estimate of value could be off by more than $27,000!  That's a pretty big margin of error.  I hope you aren't using Zillow to estimate the price of your home.  I use real world variables to find the value of your home, verses a computer that is just calculating hard numbers and not taking into account any of the variables that can greatly move those numbers around.  As a real estate professional it's my job to help you look at what your needs are and how different pricing strategies can get your needs met.
 
Besides the paperwork, the pricing strategies and the research that a Realtor® does for you, what else do they do?  A Realtor® puts your home in the RMLS, making sure that any and all buyers see your home.  What good does it do to price your home right, if no buyers can find it?  You don't want to rely on Craig's List and having people drive by your home to see the for sale sign in order to know your home's for sale, right?  Of course not.  You're not selling a toaster, a VCR or an old Elliptical that you don't use anymore.  You're selling your home.  This entails a whole different marketing strategy.  And a Realtor® is just the person to make sure you get it right, the first time.
 
I hope that I've helped you brush away any thoughts of giving it a go by your lonesome first, because let me tell you, in real estate, first impressions count and count big.  Putting a house up For Sale By Owner and then realizing a month or two later that you're out of your league and need a Realtor's® help, well shoot, you've just given the public two months of a wrong impression of your house and there's no erasing that!
 
Going back to the beginning, if you're the type that needs stats and lists to recognize the benefits of a Realtor®, well I've got you covered too! Give me a call or drop me an email and I'll get you all squared away! 
       

2016 Market Trends - Oregon is HOT HOT

Ever wonder how Oregon's real estate market compares with the rest of the country?  Sure you do!  We all know that the local real estate market is hot right now, but so is it nationally.  Almost the entire country is expecting good growth within the year for home prices.  Some states are better than others, but Oregon is killing it! 

According to the Realtors Confidence Index, Washington, Oregon and Colorado are expecting 5% to 7% growth in home prices in the next 12 months!  Just look at that map, wow!  Anyone else thinking what I'm thinking about what those three states have in common?  Haha, who knows if that has anything to do with it or not, but it's great to see strength in Oregon!

Realtors Confidence Index, March 2016 Survey of Realtors.

Not only is excellent growth still expected for the year, but Oregon is among the top of the USA for speed of home sales.  Oregon, Washington, Colorado, Kansas, Minnesota, and Alaska are all at 30 days or less for median days on the market.  Interestingly enough, most of the east coast is sitting longer on the market, median time period is 60-90 days.  What does this mean for you?  Be confident in Oregon's real estate market!

Read the full article from the National Association of Realtors here.

Is Oregon in a Real Estate Bubble?

© Judy Ben Joud | Dreamstime Photos

Have you been wondering if we are in a housing "bubble" and will that bubble pop?  As home prices keep rising, it's a question that has been raised often. 

Here's a simplified look:  In the pre-2008 era, home prices were going up and up as more people got into the game and loans were being given out like candy.  Then towards the later part of 2008, when home prices started declining, those that needed to refinance to avoid the higher interest rates of their adjustable-rate mortgages, found they couldn't.  What came next was people starting to default on their loans. 

So are we in that same pre-2008 zone again and is another crash coming?  First let me say that I am not a mystic, not into parrot astrology, nor do I consult the spirit world.  I do not know what the future holds.  That being said, I think there are some differences between now and 2006.  First, lenders aren't giving out loans to anyone with a pulse.  Are there some loans types out there that are a bit risky, yes.  But are the majority of loans being given out sound?  I think they are doing a much better job now of keeping stronger lending practices then they were doing pre-2008.

The second different between then and now is the pre-2008 demand was due to the whole loans-being-given-out-like-candy thing.  Whereas now we have a huge demand because the supply simply isn't there.  Builders aren't keeping up with the pace that buyers are purchasing properties.  They are struggling to find buildable land that is profitable to build on.  Without enough new construction homes, buyers are left to spar over the resale homes.  Sellers just aren't jumping into the market fast enough to keep up with all the demand that's coming from home buyers who are chomping at the bit to buy! 

Another factor that makes some think that the real estate market is going to stay strong is the fact that the job market is super.  Unemployment in Oregon is at all time lows.  Then you've got the rental market.  Rents are skyrocketing, leading many renters to wonder why they should be paying their landlord's mortgage, when they could be paying their own.

As people keep moving to Oregon in droves (because it's amazing and who wouldn't want to live here), as long as interest rates stay at lower levels and until new construction can catch up, I think you'll continue to see this strong sellers market.

Inventory in Washington County is Ridiculously Low

One of the hardest things as a Realtor right now is getting buyers in to see homes before they go pending.  This is because as soon as a home comes up for sale, it's getting massive interest and has buyers putting in offers as quickly as they can.  It is not uncommon for homes to go pending within the first three or four days.  For buyers, this gets real frustrating, real fast.  For sellers, it's the dream!  Sellers are getting their homes sold fast and often times, above list price.

Washington County, as well as the rest of the Portland metro area, is crazy right now.  Take North Plains, there are only eight active listings for homes under $350,000 (the hottest price range).  Of those eight listings, four are resale homes and the other four are new construction.  In all of Hillsboro, there are only 17 detached homes for sale right now under $350,000.  Seventy percent of those homes have been put on the market in the last month, many within the last week.  That's how quick the market is moving. 

What does this tell you?  If you have been thinking about selling your home, now is the time!  There is very little competition and you have the potential to get multiple offers on your home.

Why NOW is the Right Time to Sell

Okay, the holidays are finally behind us.  We were so busy with holiday get-togethers, shopping and end of the year activities that December just flew by!  Now that 2016 is here, let's get our act in gear. 

Why should you think about selling?  Because there is nothing out there in the inventory!  Well, "nothing" is an overreach.  There are some homes out there, but they are flying off the shelves and are pending before you know it!  Right now in Washington and Columbia counties, the average months supply of listings is one month for anything under $500,000!  That is incredible!  It means that if no new homes came on the market we would be out of any homes under $500,000 in a month!  Crazy!

 

What we are seeing in the market is that buyers simply don't have enough homes to choose from.  Often times sellers that price their home at market value are having multiple offers submitted on their home.  A single buyer can put in anywhere from two to five or even more offers on different homes before they finally get one accepted.  Only one offer on a house can be accepted; so buyers are getting rejection after rejection when another buyer offers more. 

This leads to frustration and why is buyer frustration a good thing for sellers?  Because when a buyer keeps missing out on the "perfect" home, their next offer goes even more over asking price, because they don't want to miss out on yet another perfect home. 

To sellers, this means that offers received are going up.  If a buyer learns that there are already five offers on a home, if they want to submit an offer, they know that in order to win they are going to have to go much over asking price.

Simply put, now is the time to sell.  Get your act together for 2016 and you just might be able to capitalize on the crazy market that is the Portland area!