Portland Real Estate Podcast

Keep homebuyers committed by avoiding lengthy negotiations and maintaining clear, consistent communication. Why are buyers suddenly backing out of home deals? In my 21 years in this business, I've never seen so many buyers who start strong but second-guess themselves and back out of deals. It's happening more now than ever, leaving sellers scratching their heads. So, if you're selling your home, I'll share three tips to help you “bulletproof” your transactions and keep those buyers excited about closing day: 1. Don't drag out negotiations. When a buyer writes an offer, they're at their most excited. But time kills deals, and if negotiations drag on too long, that excitement can fade fast. You might be waiting for a better offer, or maybe you're taking your time, thinking it's a seller's market and you have the advantage. The thing is, that better offer might not come, and buyers don't like to feel ignored or disrespected. If you take too long to respond, you risk upsetting them and losing the deal. The fix? Communicate clearly and quickly. Set expectations upfront, stay responsive, and keep both the buyer and their agent informed. Keep the buyer locked in by keeping everyone in the loop. “Time kills deals. Keep negotiations smooth, responsive, and transparent to keep buyers engaged.” 2. Get ahead of inspection issues. A bad inspection can derail a sale. A buyer might love your house until they see a long list of unexpected issues, making them question their choice and potentially backing out. Being proactive helps. While I think having a full pre-inspection is too much, one of the things I'm excited about with our team is our partnerships and vendor relationships. We have contractors who can come out during the listing appointment to walk through the property and identify visible issues that may need attention. Fixing these or having a plan in place can boost buyer confidence. If buyers feel you're upfront and honest, they're less likely to feel blindsided later, which reduces the chances of them walking away. 3. Combat buyer's remorse. Even the best buyers can get cold feet after signing on the dotted line, as it's natural to overthink big decisions like buying a house. While we can't control buyers' feelings, we can ask the right questions to understand their commitment. Check with their agent about how many offers they've made, how long they've been searching, and how many homes they've seen. This information can give you a sense of whether they're ready to commit. Encouraging second or third showings is also a smart move. It may seem like extra effort, but it helps buyers feel 100% sure about their choice, and happy buyers are more likely to stick around. In the end, sellers want two things: the best price with favorable terms and a high chance of closing. Achieving this requires an experienced agent who communicates well and builds strong relationships with other agents. That's where I come in. Whether you're buying or selling, I'm here to help you strategize and succeed. You can contact me at (503) 522-0090 or sarita@asksarita.com. You can also visit our website, AskSarita.com. I look forward to hearing from you!

Pricing your home lower may be the key to getting top dollar. Lately, I've had a few clients ask, “I want to buy a house, but how much over list price is this going to go?” It can vary wildly based on the pricing strategy. Today I want to talk  how sellers should price their homes in this market. Someone with a $700,000 home may choose to list for $799,000 in the hopes of this hot market pushing it toward $800,000. However, even if they get beautiful photography and advertise it everywhere online, the home may still sit on the market and become a little stale. People will start wondering what's wrong with the house and look for something else. “Let the market frenzy dictate the results.” One of the best ways to get $800,000 for your $700,000 house is to start much lower. List at $725,000, and when you apply a marketing strategy like mine that's proven to get results, you'll get lots of showings, and the price will be driven up organically. I'm not advocating that you lowball the listing and receive 57 offers. I'm saying that if you have a proven strategy to get eyes on the listing, it will make sense to reasonably but aggressively price the home toward the lower end of the average so you can let the market frenzy dictate the results. This strategy doesn't work in every market or neighborhood, so reach out to me by phone or email to schedule a strategy session so we can talk about your specific situation. I look forward to hearing from you.

Is now the best time to sell, or should you wait for prices to get higher? There's an old adage in real estate that says the best time to sell a house is never—home prices should, in theory, always go up. A lot of people think that because prices are on the rise, they should wait before selling. However, the reality is that many people need to sell their homes to extract the equity and position themselves for the next chapter of their lives.  If you've had this thought yourself, understand that the real estate market operates in cycles. The typical sales cycle lasts around seven years before correcting itself and moving back toward a buyer's market. However, we've been in our current sales cycle for over 13 years. This cycle isn't going to last forever; what goes up must come down eventually. On average, the year-over-year appreciation rate for homes is 4%. In our market, we've seen some neighborhoods appreciate between 11% and 20%, sometimes more! These prices are not sustainable, and we don't know what the future will bring. “If you wait to sell, you might wind up selling in a market that doesn't have as many offers.” What we do know is that now is an excellent time to sell. It's springtime, the weather is becoming nicer, and life is blooming. That means your home will look amazing for listing photos, and more buyers will be out in the market looking for homes. Furthermore, if you write an offer on a home in April and close in May, you might be able to stay in your current house through the end of the school year and move in the summer. The majority of the business we do occurs between May and September. Ultimately, if you wait to sell, you might wind up selling in a market that doesn't have as many offers, meaning that you may not get the maximal price for your property. If you've been thinking about selling your home, give us a call or send us an email. Let's have a chat about your home and determine the right timeline for you to list your property.

Rising interest rates might not be as bad as you think for a few reasons. What are these rising interest rates doing to the market? Should you get in the market now or wait? Those are great questions, so let's go over how interest rates are affecting our market. While interest rates have gone up and will continue climbing, they are still very low compared to historical averages. Instead of slowing our market, rising rates have spurred buyers to secure a home before they rise even more. We're still seeing price appreciation and multiple offers. These higher rates might not be as bad as you think, and there are three reasons why. First, your average homebuyers are couples in their 30s with dual incomes and more assets than ever before. Also, jumbo loan rates are lower than conventional rates, so luxury buyers are still a bit protected. Finally, the additional monthly payment from a 1% rate increase is nominal compared to how price increases have been affecting payments.  If you're planning on buying or selling, you should call me, and we can have a strategy session over what these rate hikes mean for you. If you have any questions at all, just call or email me. I'd love to help.

These three things can derail or slow down your home purchase. Usually, I talk about what to do when you are buying or selling, but today I want to talk about what not to do. Buyers should avoid doing all three of these things. Some of them may be obvious, but we can all do with a few gentle reminders. Buying a home is an invasive process regarding your financials, so you want to avoid making big purchases. You don't want your spending to be any different. Sure, you have to buy a washer and a fridge, but you should wait on those things until after you close.  You also don't want to have any job changes. I know a lot of us are fed up with Zoom calls, but if you want to make any change in your employment, talk with your lender and your agent. Often, you can change, but you might need several months of pay stubs before you can close. There may be an even bigger requirement if you change fields. “Buying a home can be an invasive process.” You also don't want to deposit all sorts of untraced money. I remember my lender calling me up when I was buying a home. He asked about three different deposits I had. The truth was I had sold Blazers tickets to an office mate. The lender wanted to know how they could trace and prove that deposit. When you're buying a home, lenders want to know about any money coming into your account.  Don't let my tips scare you; you can still live like you usually do when you're buying a house, but you should work with your lender and be very open about your goals. If you have any other questions, please call or email me. I'm here to help.

If you want to buy a home, you must get pre-approved before anything else. A pre-approval isn't just going to the lender and getting a letter. Buyers have to get their assets, income, and credit verified by a lender before they start looking. Why is that? More often than not, you'll find a home a lot sooner than you think, especially in a low inventory market. If you don't have a pre-approval, it's a bit like going to the store without your purse or wallet. You can find a property you want, but without a pre-approval, you're not in a position to buy it. “You need to back up your offer with a lender who has verified everything. ” You'll probably be competing against other offers for the home, but even if you aren't, the seller needs to know that you have the money. A good personality and a smile won't convince them; you need to back up your offer with a lender who has verified everything. The other reason you want to get pre-approved ahead of time is that you want to know what your budget is. A lender can tell you that you're approved for up to $1 million, but that doesn't matter. What matters is your monthly payment. If you're only willing to pay $200 more than your current monthly payment, you have to look at buying homes in the relevant price range or bring in a larger down payment. It's important to set yourself up for the budget you want by having a lender tell you what your desired purchase price should be. That way, you aren't looking at homes you can't have. To use a car analogy, you don't want to test drive a Lexus, realize that it's what you want, and then not be able to afford it. Anything less than that will feel like a disappointment. If you're looking for a great lender or if you have any questions, please call or email me. I would be happy to connect you with some of our trusted partners.

Here are a few reasons why buying a home is better than renting Should you rent or buy? If you're new to town and don't know where you'll be a year from now, renting makes sense. It's a good way to learn about the local market before you buy. However, if you've been renting for some time, I think there are some clear advantages to buying. First and foremost, you're building equity. When you rent, you are paying your landlord's mortgage. When you buy, you are paying your own mortgage. It's a great way to set yourself up to be an investor long term. The beauty of buying is that your home value will go up. I can't say that it will always increase, but over three to five years of even modest appreciation, you will at least make enough back to cover your costs and fees. Even if you just break even, you're essentially living in your home rent-free.  “There are so many advantages to buying.” Renting is perfect for people who don't want to deal with the maintenance and hassle of homeownership. However, I can connect you with so many different handymen, services, and vendors that can take care of any problem that might come up. I think there are so many advantages to buying, but obviously, I'm biased. The best thing for you is to sit down with me, make a list, go over your concerns and objectives, and determine what's right for you. I have spent plenty of time with clients, only to convince them that renting is better for their situation.  If you have any questions about renting or buying, please call me. I'm more than happy to help you make that decision.

The new year is a great time to plan out your real estate goals. Happy New Year! We counted down to midnight and watched the ball drop, and if you're like me, you're already looking at your goals for this year. My phone rings off the hook in January with clients who are committed to selling in the new year.  It's a great time to reach out to a trusted real estate professional and come up with a strategy for selling your home, whether you want to do that now or later this year. Even if you're looking to buy, we can talk about who you need to call and what you should do with your credit. My door is open; I can meet with you and help you create a plan for your specific situation. If you're ready to make your financial dreams come true, whether that's buying, selling, or investing, call me. Let's put our thinking caps on and make this the best year ever.

From our team to your family, we want to wish you a happy holiday season. Happy holidays to you! The holiday season has officially arrived. We hope you enjoy this wonderful time of year and make some fantastic memories. We wanted to take a moment to thank you for your continued support. We love helping people make their real estate dreams come true, so thank you for working with us and supporting our business. This may be a busy time of year, but we are always here to help you and answer any questions you may have. Give us a call or reply to this email; we'd love to help you.  In case we don't hear from you until 2022, have a happy New Year!

Here's what we've learned from the crazy seller's market we've experienced. Ever since the beginning of the pandemic, we've experienced a hyper seller's market with very low inventory. Buyers have been losing house after house. We started 2021 with one month of inventory, and we went as low as 0.7 months. Even in June and July, we only had 0.8 and 0.9 months of inventory. Today I want to talk about what we've learned from this crazy market.  The No. 1 thing we've learned is that patience is rewarded. I've had so many buyers who put in offers on home after home and eventually decided to throw in the towel. However, those who kept going were rewarded. This market's only going to get better. We're already seeing the market shift slightly. Instead of 10 to 12 offers on every house, there should only be three to four. “In this market, patience is rewarded.” The best way to hang in there is to be true to your goals. Whatever the reason for your move, stick to it, be patient, and know that we're going to find the right house for you. We can find off-market properties through our agent relationships and connections. We're going to get you the home you want. If you have any questions, don't hesitate to reach out. We look forward to hearing from you.

I wouldn't be where I am today without all of your support. The 2021 holiday season has officially begun! I hope you are as excited as I am. I'd like to take a moment to express my gratitude to all of you this Thanksgiving. I have met some truly wonderful people, and I'm proud to have helped so many reach their real estate goals over the years. I wouldn't be where I am today without all of your support. Enjoy your Thanksgiving dinner—that's what I plan to do! In the meantime, please don't hesitate to reach out to me if you have any real estate questions. I would be happy to help you. Happy Thanksgiving!

Are you wondering whether now is the best time to sell your home? It's autumn now, and people are wondering whether this is a good time to sell or if they should wait until next spring. The best time to sell your house is when you're ready, and you're probably ready now. Due to the seasonality of our market, in the fall and winter, sellers have less competition than in the spring and summer. There's more buyer activity in the warmer months, but there are also more listings on the market with which you'll have to compete. I have this saying, “You can't get a nibble from a fish if your worm's not in the water.” The best way to be on the market is to truly be on the market and not just talk about being on the market. The people who buy in the fall and winter are serious buyers who are usually trying to time a job change or a break from school. In the Portland area, Thanksgiving and Christmas weekends are always busy. If you're thinking about whether you should sell now or wait, call me. Let's talk about it and come up with a strategy that works for you. Reach out to me at sarita@asksarita.com.

Here's why the highest offer is not always the best offer on a home. Why wouldn't the highest offer be the best offer? I hear this all the time from my buyers. They get fixated on the numbers and ignore the many other things that make an offer strong. So today I wanted to talk about some of those other factors that can be more important than price. There are several things to think about: down payments, close dates, contingencies, etc. The seller is looking for the best terms with the lowest risk. They want to know the offer will close if they take it. “Buyers need to craft a strong offer in every element, not just price.” The most important factor is the experience of the buyer's agent. Whether the listing agent and buyer's agent have worked together or not is a huge deal. It helps the seller know that the offer will close. The seller has a lot of leverage during the offer, but the buyer has a lot of leverage throughout the process. Buyers need to craft a strong offer in every element, not just price. My buyers have not always had the highest price, but we've still won because we know how to write a strong offer and limit risk at every turn. This is too much to cover quickly, so if you want to learn more about our process, feel free to call us and set up a consultation. If you have any questions, please reach out. We're here to help.

Here's why waiving the home inspection when buying is a bad idea. Home inspections are a fun topic for me to discuss, especially in a hot seller's market. Right now, many people are buying homes and waiving an array of contingencies, including the home inspection. However, waiving the home inspection isn't a great idea. When you view a home, particularly in a hot market, you only spend 10 to 20 minutes in it, and you might get to see it twice if you're lucky. In that short time, you're not turning faucets on, looking under the sink, getting on the roof, or carefully checking out the crawl space. Also, if a home hasn't been on the market much, it hasn't benefited from recent inspections, so there may be major issues the seller doesn't know about. “Not doing an inspection could result in huge problems.” The home inspection is always crucial because, if nothing else, it gives you a baseline on all the systems in the home and a checklist of things you might need to do in both the short and long term. I usually don't recommend that buyers waive the inspection unless they plan on tearing down the home. We may tell the seller that we won't ask for repairs, but not doing an inspection could result in huge problems that may change the value of the home because it'll cost you more than you thought.  When you work with us, you have access to all my trusted advisors, including inspectors. We'll give you a list of all the licensed inspectors in Oregon and the few we work with very closely. You're always entitled to use whoever you want, but my criteria for an excellent inspector is one that's responsive and provides a report in a timely fashion. If you have any questions relating to home inspections, including if you're a seller considering pre-inspecting your home, give us a shout via phone or email. Let us work on a strategy with you.

Call me now so I can help you get your house ready to sell for top dollar. People often ask me, “When should I call you if I'm looking to sell?” Call me now. You want a professional Realtor with you so that we can create a plan of what you need to do, book photographers, and schedule with the appraiser. In a market like this, there may be a lot less you need to do to sell your home, but you still want your home to look amazing. There may be some repairs that you think you need to do that no one would even notice during a showing. Likewise, there'll be other things that I notice that you may not. Having somebody like me who works with buyers will tell you exactly what you need to do and help you be efficient. When you're ready to sell, call me, and let's work together to create a strategy to get your home on the market. If you have any other questions, don't hesitate to reach out to me. I'd love to hear from you and answer any questions you may have.

Here are the latest numbers and my take on the Portland real estate market. The Portland MLS just released their August 2021 market numbers, and I wanted to break down some of the key statistics for you today. “The median price is up 14.2% year over year.” First, we have just one month of inventory. This means that with no new listings, it would take one month to sell everything that's listed. While this is an incredibly low number, it's up from the last few months. We had 0.7 months in June and 0.8 months in July. If you're a seller, it's still a great time to sell because there's very little competition and very high demand. The average home price for August 2021 was $583,600. This is up 16.2% from August 2020. The median price is up 14.2% year over year.  If you're a buyer, my message is of promise and hope. You're still going to see multiple offers out there right now, but it's getting better slightly each month. Some weekends this summer, we might have seen 10 offers on a property, but now we are seeing just three or four. The market is trending towards buyers. If you have any questions about buying, selling, or anything else related to real estate, don't hesitate to reach out via phone or email. I would love to hear from you and discuss your situation.  

Here's what our brand ‘ask Sarita' truly means to us and for you. Today I want to share what our brand, “ask Sarita,” truly means. In the 17 years that I've been a real estate agent, I've always been on the go, in meetings, and traveling quite a bit. I always say to people something like, “Let's get together! I'm busy for the next four weeks, but then my schedule slows down,” but then something else comes up.  Then the pandemic began, and things have changed for everyone; we're home much more, going out less, and certainly traveling much less. One thing I noticed, particularly in the spring of 2020, was that many people had a great time reconnecting with others, asking how they're doing, and listening. People always say something like “Fine, thank you,” when you ask how they are because the truth is more difficult to explain. Maybe they were fine in March or April, but then perhaps homeschooling began, financial pressures, job insecurity, worrying about our health, not being able to see loved ones, and more.  So today I wanted to remind you that our “ask Sarita” brand is about connections. One of my favorite things is connecting people in my life and community. If you're looking for a job, and I know a recruiter or someone who's hiring, I'd love to connect you. If you're looking for a wonderful school for your kids, and I happen to know a good teacher or principal, I'd be happy to tell you. “Our ‘ask Sarita' brand is about connections.” Not only can I give you my take on something, but I can also connect clients with each other. We're always here if you want to buy or sell a house, but we can do so much more than that. If you need a painter, are considering redoing your deck, want resources for your health, or anything else, give me a shout. I promise to lend a listening ear, a helping hand, and connect you with people I know when I can.  I love seeing new relationships take hold. I'm here to help you buy or sell a house, but if you need anything at all, call or email me. Maybe I can just help you by making a connection.

Here are a few tips for choosing the best agent to help you in the market. Today I'm discussing a topic near and dear to my heart. Sure, I would love you to choose me as your real estate agent, but I want to share the things you should be considering when selecting an agent to help you.  If you're a buyer, now more than ever you need an agent with experience, who knows the market, and has strong relationships with other agents. You want your offer to stand out in potential multiple-offer situations, and while you can pick an agent who only sells two to three homes per year, an agent who has more exposure has dealt with more situations that pop up in the market and can see you safely through them. You want someone who has a good reputation, is honest, hardworking, and puts your needs first.  If you're a seller, you need an agent who understands the market, the current competition, the properties on the market right now, and who the buyers will be for each seller's home. They also need to know what the messaging will be for your home; marketing these days should be more advanced than what many agents do. A slew of them just put a sign in the yard, don't bother with a flyer, and they have what I like to call the “Field of Dreams” mindset for marketing: “If we build it they will come.” It takes way more than that to properly market a home; it takes hustle, grit, picking up the phone and speaking to different agents, understanding feedback, and knowing how to reach the buyers you want. “An agent who has more exposure has dealt with more situations that pop up in the market.” Whether you're thinking about buying or selling or simply want to understand the real estate market better, talk to multiple agents, ensure you partner with someone who will be on your team and who will be straight with you about your concerns.  If you have further questions about choosing the right agent for you or any real estate topic, visit my website or give me a call. I'm here to help.

There are few situations when it's better to rent a home instead of buying one. I get a lot of questions from renters who are thinking about buying a home. Most commonly, I'm asked about whether it's better to buy or rent a home in today's market. It's a hard question to answer, since everyone's life situations and needs are different. There are some times when renting may make sense. For example, you may be new to the area or might not be in your home for a long time. It's hard to recommend buying when a person will leave within a year, as their home likely won't appreciate enough to cover the costs of selling. So, if your living situation would be short term, it may be best to rent. “Buying a home makes a lot of sense, and it helps you create a cycle of building equity and using it to move into bigger, better homes.” In almost all other cases, though, it's usually better to buy. We can't predict whether our crazy levels of double-digit appreciation will continue, but historically, homes appreciate by about 3% to 4% every year. Let's say we only have 1% appreciation each year—if you live in a home for seven years and sell it at a 7% increase, that'll likely cover all of your closing costs and related fees. That means you got to stay in a home for seven years without paying rent. Essentially, you broke even, but you were also able to write off mortgage interest as a tax deduction. Buying a home makes a lot of sense, and it helps you create a cycle of building equity and using it to move into bigger, better homes. Additionally, you'll typically see more appreciation on higher-priced homes. If you have any questions or are ready to begin your home-buying journey, feel free to reach out to me. I look forward to hearing from you soon.

Here's what the pandemic has taught me about today's buyers and sellers. There are a couple of key lessons I've learned during the pandemic from interacting with buyer and seller clients that I think are important to share with homeowners.  First, the pandemic has taught us what the word “home” means to us. Things you may not have liked about your current home have likely become accentuated since you've probably spent so much more time there over the past year, whether that means the kitchen you don't love, outdoor space you don't have, or the limited number of rooms to host Zoom calls in, etc. That's why many buyers are out there looking for homes. They're thinking that instead of remodeling, why not just get something they love? “There are a lot of lessons to learn about what the pandemic has taught us to love about our homes.” That's great, but I also want to caution you against making long-term decisions based on, generally, a short-term pandemic. I know nothing has been short about 2020 and 2021, and it's been a very trying time for many reasons that I don't want to minimize. However, there are a couple of things to consider. The pandemic taught most people that they could work from anywhere and that commute doesn't matter. When things go back to ‘normal,' though, what if telecommuting is no longer an option all the time? What if there's a hybrid arrangement where you have to go back to the office? Well, guess what: That 30-minute or hour-long commute (or however far away you are from your office) matters. Traffic is coming back, which means its normal patterns—e.g., rush hour—are coming back too.  There are a lot of lessons to learn about what the pandemic has taught us to love about our homes, but many people are making big long-term decisions based on where things stand today. The bottom line is that they also need to factor in what their lives will look like several years from now regarding their work/life balance, commute, amenities, etc.  I'd love to help you through this decision-making process, so if you have questions about today's topic, don't hesitate to call or email me. Have a great day!

Here are some ways to make your offer stand out from the rest. Today I'm talking about how to make your offer as a buyer stand out in a multiple-offer situation. It's no secret; the market is competitive. It's not for everybody, but life happens. People get married, divorced, have babies, and change jobs. If you're looking for a home, you need to work with a professional who knows what it takes to win in multiple-offer situations. Just in this last month alone, every weekend we've submitted offers, and there have always been at least seven others. One had 23, and while my team and I don't win in every situation, I do love that we try very hard to win with the data and information we have at hand. That involves understanding and building a relationship with the listing agent to see what makes a win for the seller besides price, as well as strategies to set our offers apart. “When we've submitted offers, there have always been at least seven others.” We've done things like limit the repair requests, bridge the gap between the appraisal and the purchase price, and put together a letter explaining and introducing our buyers and their love for the house and how they'll take care of it. In many situations, we've won where we haven't been the highest offer in price, but we've listened and put together a package that meets the seller's needs. If you are looking to buy and want to partner with an agent or have been working with an agent and are not happy with your results, give me a call. I would love to build a relationship and become your trusted Realtor. I look forward to hearing from you. 

Here's what to know if you're trying to buy and sell homes in this market. This is a great and very common question in this market. The answer depends on a couple of different factors. First, what's your point B? What does that next house look like? Then, what does your point A (your current house) look like? If it's a seller's market and you're selling high, you're probably going to end up buying high too. Trying to complete both transactions at once requires a delicate balance and a lot of strategizing. One option is to sell your current home first and negotiate a rent-back with the buyer to allow you to stay in that home while you search for your next property. “A contingent offer is not ideal in this kind of seller's market.” You can also buy your new home first with a bridge loan or other creative financing programs that will allow you to move into your new place before you sell your old home. For the most part, contingent offers do not work here in Portland. Non-contingent offers are much stronger and often bump contingent offers out of the way. Even if a seller accepted a contingent offer, there's a good chance it won't make it to closing. This is a complex topic and there's no one-size-fits-all answer. If you have any questions about what to do in your situation and how you can accomplish this real estate juggling act, don't hesitate to reach out via phone or email. I  look forward to hearing from you soon.

Here's what it takes to succeed as a seller in today's real estate market. Most sellers come to me with many questions about when the right time to sell is, how to get top dollar, and what their options are. All sellers want two things: the best price and terms and the least risk. They want an offer that will truly close because, in this market, some buyers are offering $100,000 over asking price and have to decide to offer that within a day, which means there's a higher chance of buyer's remorse, so the buyer may walk away.  To ensure you win as a seller with qualified buyers in this market, you need to do three things: 1. Get your house on the market right away. Sellers think if they change the kitchen counters, paint, and so on, it'll yield a better price, but with the market the way it is right now, if it takes you three weeks or more to prepare your home, we don't know what the market will be like then. We know there's currently a severe inventory shortage, so the quicker you can list your home, the more likely you will be to take advantage of the extremely high demand. 2. Make the house look great. Don't make any improvements that take a lot of time, but you do need to declutter and depersonalize. People watch HGTV and walk through other houses, so your house needs to look wonderful, and buyers need to have an emotional connection with it. Pick up your laundry, wash the dishes, and make sure it's show-ready. Real estate agents like me have plenty of resources and connections to help you stage, store items, declutter, depersonalize, organize, and more. I also have an excellent handyman I can recommend. “Don't make any improvements that take a lot of time.” 3. Price the home right. Just because your neighbor got $800,000 even though their house is worth $500,000, and you think your home's better than theirs, doesn't mean you can price yours at $900,000. We have to look at the market, the direction it's moving, the psychology of pricing, and set a price that will produce a slew of showings and the best offer possible. If you're considering selling or have any questions, give me a call or visit my website. I'll answer your questions, and we can talk strategy if you're interested. I'd love to help you.

By waiving contingencies, you can make your offer more attractive. Our hot seller’s market means competition is fierce among homebuyers. Some buyers are trying to help themselves stand out by waiving contingencies when writing their offers. I’ve been getting a lot of questions about whether this is a smart thing to do, so today I’ll be sharing my thoughts. First, my job as an agent is not to tell you what to do—my job is to give you options and tell you what I see in the market. You’re the one who has to choose, and your choice usually depends on the circumstances. For example, if you’re trying to find a home that’s close to your parents, you may pull out all the stops to ensure you get it. For more common homes, you may not feel quite as eager. “Waivers can be tricky to understand, and it’s even trickier to know when they should be used.” Still, I see people waiving both the inspection and appraisal contingencies lately. When a home has a bunch of offers that are way beyond asking price, a buyer may say that they won’t ask for repairs (though they’ll still have the ability to back out after an inspection). In cases like this, if you’re already going to pay tens of thousands of dollars over asking price, the costs of minor repairs are negligible. Waiving the inspection helps buyers make more attractive offers while still keeping some leverage.  In our market, if a home is not appraised at the purchase price, the buyer can back out. Appraisals look at what comparable homes sold for in the past, so many homes are not appraising nowadays due to today’s rising prices. When a buyer waives the appraisal contingency, they’re offering to help pay the difference or forfeit their right to back out. This gives the seller assurance that the buyer won’t back out and helps buyers compete with cash offers, as cash offers don’t require an appraisal at all. Waivers can be tricky to understand, and it’s even trickier to know when they should be used. If you have any questions or would like more information about this topic, feel free to reach out to me. I’d be happy to speak with you and address any concerns you may have.  

Here’s a look at mortgage interest rates from a historical perspective. I’ve been selling real estate for 17 years. When I first started, mortgage interest rates were in the 8% range. Some of my colleagues remember them being over 10% before that. We used to think a low interest rate was anything under 5%, but I’ve seen rates well under 3% over the last few months. The cost of money has never been lower. If you’re getting a rate at 2.85%, you’re paying roughly $25 per month for every $10,000 of your purchasing price. When you look at buyers who are paying extra to buy homes, this is something they point to. They may be offering $20,000 over list price, but it’s only going to cost them an extra $50 every month. “Your buying power has never been stronger.” The one mistake everyone makes is going with the high end of what they’re approved for. You should be looking at homes based on the monthly expenses you’re comfortable with. Your buying power has never been stronger than it is right now, so it’s a great time to buy. If you have any questions about your specific situations or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.

Here’s what goes through my head when someone asks, “Should I wait?” We know that the market is a bit rough out there because there are so many buyers and so few homes for sale. The No. 1 question I’ve been hearing from people lately is “Should we wait until things settle down a little?” If I knew the answer to that question, I’d probably be spending a lot more time in Vegas playing poker. Nobody knows what will happen in the future, but I did want to share a quick tidbit from one of my favorite morning newsletter publications, “The Morning Brew.” Here’s the quote from John Burns, who explained to the WSJ that, “Institutional investors, like pension funds, are swooping in to buy single-family homes in the U.S., driving up prices, and potentially creating another housing bubble.” “You need a winning strategy to come out on top.” About 20% of homebuyers never moved in, meaning they’re owned by investors. What this suggests is that as long as there is low inventory and high buyer demand, the prices are likely to continue to rise. We don’t know for sure what will happen, but we do know that you need a winning strategy to come out on top. We’ve been very successful in helping both sellers and first-time homebuyers because of the creativity and agent connections we have. If you have any other questions for me, don’t hesitate to reach out via phone or email today. I look forward to hearing from you soon.

Here’s what to know about inventory in our real estate market right now. Every month we receive a statistic from our local MLS that shows us how much inventory we have. Months of inventory means how long it would take for all homes to sell if no new homes came onto the market. Generally, over six months of inventory is a buyer’s market, under three is a seller’s market, and in-between is a balanced real estate market. Currently, we’re in a hyper-seller’s market with extremely low inventory.  In December, we had 0.8 months of inventory, and that’s the lowest I’ve ever seen in my 17-year career in real estate. January and February each had one month of inventory. We frequently see less inventory from December through February, but these numbers are incredibly low. There are several reasons for this, including the pandemic, weather-related issues, and sellers who aren’t listing because they don’t know if they’d find a new house to buy. “It’s crucial to sit down with your real estate professional and build a strategy to find the right property.” We don’t have the March data yet, but from what we’re experiencing in the market, it’ll likely still be very low. While things look promising and we expect to see more inventory as we continue through spring, it’s crucial to sit down with your real estate professional and build a strategy to find the right property. We’re doing many things to find more inventory: We’re writing letters to sellers, working with services that know about listings before we do, and whatever else it takes to find available homes before they hit the market.  If you have any questions about inventory or real estate in general, call or visit my website to connect with me. I’m looking forward to speaking with you.

Here are the criteria you should focus on when starting your home search. Today I want to talk to you about your criteria as a homebuyer and the importance of zoning in on what’s important to you. Especially in a low inventory market like this, buyers have to be clear on what’s most important to them in a home. With limited inventory, you need to be able to prioritize and compromise.   Each buyer’s answer is different, but what everyone should want in a home comes down the things you can’t change: the 4 L’s. 1. Location. It’s the most important thing because you can’t pick up a house and move it. 2. Lot size. You can’t add or move a yard. “Buyers have to know what’s most important to them in a home.” 3. Layout. This is one thing you actually can change, but when you start getting into extensive layout or floor plan changes, you might as well look at what it would cost you in time and money to find a home with the layout that works for you as is. 4. Light. Natural light, that is. If your home doesn’t face a certain way or has trees blocking the sun, it’s going to be darker no matter what. If natural light is important to you, it’s hard to make a darker home lighter. I have clients all the time who talk about appliances or flooring as their must-haves. Those can be easily fixed by one of my contractors. The four L’s, however, can’t be, and they’re what you should be prioritizing in your home search. If you have any questions for me, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.

No matter where you’re moving, I can help you connect with the right agent. These days, people are realizing that they can live and work anywhere because they school and work from home. I’m still here to help you with your buying and selling needs in Portland, but if you’re moving to another state or even country, give me a call. I can help you move anywhere; I have a wonderful network of agents that are like me and there to be a resource. They’re not going to push you to buy or sell if you’re not ready, but they can show you market data, connect you to trusted vendors in their area, and help you find the home of your dreams wherever you want to be.  If you have any questions, large or small, call or visit my website. I’m here to help you and be your real estate resource.

Has your definition of home changed? If so, you’re not alone this year. As a real estate agent, I’m the one someone calls when they need to buy or sell a home. What 2020 has taught us is what people truly love about their home and what they can’t stand. So many paradigms have shifted in terms of how we work, educate, and live together. Just last year, if you worked in an office, you may be home for weekends and just a few hours on weekdays. Everything has turned on its side now and people are home 24/7 with their families. A lot of homeowners have realized they need fewer open spaces and more rooms for school and work. Others need better internet service or just more space in general. “Since people are home 24/7 now, their idea of the perfect home may have changed.” If there are things in your home that you’re not super thrilled about, I’d love you to reach out to me. We can help you come up with ideas to either improve your current home or find a new one that you truly love. If you have any questions at all, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.

Friends and Clients,  Happy holidays to you! The holiday season has officially arrived. We hope you enjoy this wonderful time of year and make some fantastic memories. We wanted to take a moment to thank you for your continued support. We love helping people make their real estate dreams come true, so thank you for working with us and supporting our business. This may be a busy time of year, but we are always here to help you and answer any questions you may have. Give us a call or reply to this email and we’d love to help out. In case we don’t hear from you until 2021, have a happy New Year!

Here’s my answer when someone asks me if it’s the right time to sell. I’ve been hearing this question a lot lately from homeowners: “Sarita, it’s almost winter. Is it still a good time to sell my house?” The answer is an unequivocal YES!, but let me explain. Normally, we would expect to see some seasonality in the market around this time of year, with things sort of tapering off until the spring because of more rain, shorter days, etc.  This year, things have changed. Due to the initial COVID lockdown, our spring market was nonexistent. Our spring sellers became summer sellers and summer sellers became fall sellers. With more and more people working from home, more buyers are able to be flexible about seeing homes during the day. “Quick, profitable sales are the rule, not the exception.” The No. 1 reason to sell now is our low inventory. You have such little competition that you’ll likely receive multiple offers, even if you price on the higher side of your market value. There are holes in the market that we can exploit by listing the right home when there’s little competition. When the market is behaving like it is now, quick, profitable sales are the rule, not the exception. If you have any questions at all about the market or your situation, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.

We are thankful for every one of you, and today I wanted to say it outright. Thanksgiving is almost here, and 2020 has been a wild year. Both of my kids came home from college for spring break and thought they’d have to stay home for a week or two, but they’re still here. There’s no playbook for how things should go during a pandemic, but there are some silver linings. I get this bonus time with my kids that I didn’t expect, so as a family we’ve been enjoying cooking, watching TV, and spending quality time together. “You are why we do what we do.” I know all of you are going through similar things, whether it’s home-schooling, working from home, or just trying to make sense of this unusual year. From the bottom of my heart, I thank you all for your faith and trust in me. To everyone who chose to buy or sell a home with us this year and anyone who referred us to their friends and family, we’re very appreciative. You are why we do what we do, and now more than ever, it’s about people.  Enjoy the holiday as safely as you can; have a great Thanksgiving! If you ever have any questions concerning real estate, give us a call or send an email. We would love to help you. Oh… one more thing…I am launching my video series specific to real estate agents. I will be offering tips on the market, team structure, what is working for us, opportunities for hiring, etc. Click the button below to join the mailing lists for my Portland Real Estate Mastermind video series. Sign Up Here

In a competitive market, there are 3 "Cs" you should remember. When it comes to competing in our low-inventory market, there are three Cs to remember: 1. Confidence. Do not be intimidated by the fact that there are many showings and multiple offers. First of all, showings don’t equal offers, and offers don’t equal great offers. Have fun with it, and believe in your chances. It’s easy to feel so overwhelmed that you don’t even want to submit an offer at all, but resist that mindset—it’s a one-way ticket to further frustration. If you love the house, go for it. In one recent instance, my buyer submitted an offer that wasn’t really that much over asking price, but because I had a great relationship with the listing agent and the offer had a few key elements aside from price, it got accepted. 2. Communication. That includes stellar communication between you and me. As a professional, I need to fully understand your needs, motivations, likes and dislikes, and time frame. It also means great communication between me and the listing agent. Of course, I don’t represent the seller, but it’s important that I talk with the listing agent to understand what the seller’s needs are so I can advise my buyer on how to craft an offer that will truly be appealing. For example, maybe the seller doesn’t know where they’ll be moving just yet and could use a little extra time in the house; in that case, including a discounted rent-back period in your offer could be game-changing. “It’s easy to feel so overwhelmed that you don’t even want to submit an offer at all, but resist that mindset—it’s a one-way ticket to further frustration.” 3. Creativity. Some elements of an offer are pretty self-explanatory: price, earnest money, down payment, closing date, etc. However, there is this awesome fifth element that isn’t as easily defined, and it’s basically a “miscellaneous bucket” from which we can draw. Shortening inspection or appraisal contingencies, releasing earnest money, adding a more human touch to your offer—all of these things are variables that, depending on the situation, can be arranged in a way that spells out a victory for you as the buyer.  Though I can’t reveal every single trick to winning in a competitive market, trust me when I say that there are plenty of creative ways to craft a compelling offer that’ll get you into the home you love. So, if you’re a buyer who’s ready to hit the ground running and work with someone who has plenty of experience in seller’s markets, please give me a call or send an email. I’d love to hear about your unique situation and get to work making your real estate dreams a reality.

Here are all the latest real estate market stats from September. The real estate stats for September just came out, and I’m eager to share them with you. The biggest news is that our months of inventory marker is at 1.1 months, which is the lowest ever that I can remember seeing. This means that if no new homes were to come onto the market, it would take just over a month to sell all the houses currently for sale. For context, around six months of inventory is a balanced market, and at around three months or below it becomes a seller’s market. So, we’re in a hyper seller’s market right now.  This is happening because we have extremely low interest rates; many sellers didn’t list their properties this spring due to the pandemic, and now more than ever people are understanding exactly what ‘home’ means to them. People are home 24/7 these days, so they’re seeing what their living needs truly are and want to make changes.  So what does all this mean for you? Now more than ever, you need to have a trusted real estate professional to be your partner and help you strategize. We have to make a plan with buyers on how to win in a multiple-offer situation in this low inventory, competitive market. For sellers, we have to strategize how to prepare their home for sale, strike a balance between making it perfect while also getting it on the market quickly, and ensure they aren’t homeless between the sale of their house and the purchase of another. “People are home 24/7 these days, so they’re seeing what their needs are and wanting to make changes.” A few more quick stats, for which you can see graphs in the video above: The average price is up 11.3% The median price is up 10% New listings increased in June but dropped sharply in September Time on the market has decreased by 25% For help with all the things I mentioned and more, or if you have any questions, reach out via phone or at asksarita.com. I look forward to helping you.

Multiple offers are common these days. Here are tips for handling them. One of the stats that I love to track every month is “months of inventory.” It’s a measure of how long it would take to sell every home currently on the market if no new homes were listed. Right now we have just 1.5 months of inventory in Portland, which is extremely low. This is the lowest inventory we’ve had in the last three years and I can’t remember it being lower. What does this mean? In short, more multiple-offer situations. They won’t happen in every area or for every home, but with low interest rates and low inventory, we’re seeing a lot more activity on listings than normal.  If you find yourself in a multiple-offer situation, here are three tips you should keep in mind: 1. Don’t just look at the asking price. Asking price is a guide; market price is what a buyer will pay. Instead of worrying about offering over asking price, think about it in terms of whether your offer is in line with market value. If there are other buyers offering the same amount, that’s the market price. “We’re seeing a lot more activity on our listings than normal.” 2. It’s more than just price. We have to look at other non-price elements to make an offer stronger, including the down payment amount, contingencies, and more. 3. You need a great agent. By this I mean someone who is experienced with multiple offers, is creative, and has good broker relationships. Today’s sellers want two things: the highest price and highest probability of the deal closing. With an experienced agent, you set yourself up for success. If you have questions for me about the market, dealing with multiple offers, or anything else related to real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.

Due to COVID-19, our market is trending differently from previous years. The most up-to-date information is included below I hope that you’re all staying safe and healthy! Though the country has begun to reopen, it’s still wise to be cautious when coming into contact with others. In addition to checking in to see how you’re doing, I also wanted to fill you in on how COVID-19 and the ensuing stay-at-home orders have affected the market and what the short- and long-term plans might look like. First, let’s look at some of the seller statistics. The number of new listings is one of the best demonstrators of seller intent. On the graph shown in the video above (0:55), you’ll see the number of new listings by month for 2018 and 2019 are very similar; they start very low in January, peak in May, and trend back downward toward December. “We’re seeing a lot of activity due to pent-up demand.” New listings in 2020, however, have seen a marked departure from that curve. So far, new listings have peaked in March and trended downward in April, clearly due to the stay-at-home orders. Many people who were considering making a move in the market before COVID-19 hit held off on their plans once the pandemic manifested. Now we’re seeing a lot of activity due to pent-up demand. Our inventory is currently low, but there are still many buyers in the market because interest rates are very low. As a result, there have been quite a few multiple-offer situations. In fact, the amount of time that homes spent on the market dropped by 7.6% year to date. If you’re planning to buy or sell a home, please contact me so that we can come up with a strategy to help you succeed.

Working with a solo agent and working with a team come with two different sets of expectations. Here’s what you need to know. Today I want to talk to you about real estate teams. Why do they exist, how do they work, and how does my team operate? I’m answering all of these questions and more today. First of all, a real estate agent is going to be either a solo agent or part of a team. There are advantages and disadvantages to both routes. If you have a solo agent, you’ll be working with the same person all the time and they’re going to handle everything for you and be your sole point of contact.  However, as many of us have found, we’re better able to give service to our clients if we bring in help through a team. The advantage of a team is that someone with specialized skills is always available, and you won’t be limited by working with just one person throughout the process.  I was a solo agent for eight years, but have been on a team for the last seven. I found that I couldn’t do everything involved with real estate myself and still be the best for my clients. Real estate involves so many things, such as marketing, sales, paperwork, advertising, project management, etc. Those elements each require different skill sets. “When you work with us, you get the entire team on your side.” The light bulb turned on for me after I went to the dentist. I realized that the dentist wasn’t the one scheduling appointments, giving the X-rays, doing cleanings, and billing clients. The dentist just does the exam. I realized that we’re not so different in that we focus on doing the most important things at the highest level. When you work with the Ask Sarita Team, you get the entire team on your side. We have people who specialize in paperwork, we have a transaction coordinator, and we have buyer’s agents and listing agents. My job as the team leader is to write every offer, take every listing, and work closely with my clients throughout the process. We helped 144 families last year with over $80 million worth of real estate. I’m much more involved in my transactions than other teams that are doing similar numbers. We aren’t going to ever sell 1,000 homes a year, but that’s just fine with us. Our main focus will always be to give you the best possible service. If you have any questions about real estate teams or real estate in general, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

Here’s some good advice that I commonly give to those who are planning to sell their homes. When I walk into a home for a listing appointment and the seller asks me what they need to do to sell their house, I give them three key points of advice: 1. Make visible repairs. This means touching up paint on the walls to obscure stains or marks, cleaning up dirty carpets, or fixing a leak under the sink. All of the things a potential buyer will be able to see as they walk through your home should be in tip-top shape. 2. Depersonalize. By this, I don’t mean that you need to get rid of every little bit of humanity in your home. It’s important to show some personality and warmth. However, buyers don’t need to see a gallery of 50 family photos. You don’t want so much personalization that the buyers forget that the home has three bedrooms as opposed to four, for example. Try to neutralize the home so potential buyers can imagine themselves living there. “All of the things a potential buyer will be able to see as they walk through your home should be in tip-top shape.” 3. Declutter. For some, decluttering can be the worst. HGTV has ruined the process for a lot of people; all the homes featured on the show look like model homes, but normal people don’t live that way. The rule of thumb for decluttering is “when in doubt, get it out.” You’re going to move out anyway, so take the time to get all your stuff off the countertops, dust, remove extra furniture, and so on. You can put things in the garage if need be, but the less you have out, the more your home will shine—it’ll also seem larger and more spacious. Again, the less clutter you have, the more your buyers will be able to picture themselves living there. As your guide and consultant, I can tell you all that you’ll need to accomplish in terms of repairs, depersonalizing, and decluttering, as well as refer you to service providers that can help with those tasks that you may not want to do on your own. If you have any questions or if you’re ready to sit down and hash out a strategy, reach out to us. We’re here to help.

There’s one important change that’s taken place in real estate in the last 15 years that impacts agents and buyers. How has real estate changed in the past 15 years? When I started as an agent in 2004, our sales agreement was only four pages, and things were fairly manual. I remember doing things like faxing checks around and spending a lot of time on the phone to find out about properties.  Fast forward 15 years later, things have changed for better and for worse. First of all, our sales agreement is now 13 pages, and more inspections take place within each transaction. The biggest change, though, is our use of technology and our access to information. Before my time, the industry had evolved to the point that the agent was the gatekeeper of all information. Before the MLS, all listing information was kept in a binder, and that binder was the database of all properties for sale. “About 1% of a real estate transaction is finding the home—the other 99% is managing the process to a successful close.” Now, all information is available online, including sales history, pictures, etc. The agent is no longer the gatekeeper of information. Our position has changed to more of an advisory role. If you’re a buyer, you’re the one who will likely find your next home. You’re able to look at the same online database that we can, and your preferences will be influenced by the pictures of the homes you view. If one of them meets your criteria, you’ll likely decide within three to five seconds after looking at a couple of photos whether you want to see that home in person.  Throw in tools like Google Maps (or Portland Maps) and Walksquare.com and you can learn all about a home’s surrounding area—where the amenities are, what the tax records look like, etc.  So what does an agent do? About 1% of a real estate transaction is finding the home—the other 99% is managing the process to a successful close. This means negotiating the sale, coming up with a price, presenting the offer, and all the steps that come after the offer has been accepted.  Beyond managing the process, there are two more valuable skills I can offer to you. The first is being able to find off-market properties. There are a plethora of off-market properties we have access to that you won’t find online, and we’re happy to share that information with you.  The second is my resourcefulness on the back end. In other words, understanding the story within the story. If a house was recently relisted and has an issue with its inspection, I can snag the report, research the history of the home, and talk to the seller’s agent. With our back-end tools and agent relationships, we can give you the full picture of what’s happening with any home.  Real estate is still a very exciting business. I think the internet, and the access to information it provides, has empowered people to manage their home search. It’s still a complicated process, though, and you need guides such as myself to be your trusted advisor to make your home purchase smooth and stress-free.  If you’d like to talk more about home buying strategies or you have any other real estate questions, don’t hesitate to reach out to me. I’d love to help you.

Here’s what both homebuyers and sellers need to know about closing costs. What are closing costs? Who pays for them? I hear questions like these all the time, and the answers depend on whether you’re a buyer or a seller. For buyers, if you don’t have cash and do have a mortgage, you will have some closing costs. The majority of the cost is related to your loan, but there are also some prepaid taxes included. In the state of Oregon, the buyer and seller work with a title and escrow company and split the costs between them. For example, let’s say you’re buying a home for between $350,000 and $400,000. The closing costs could be anywhere from $5,000 to $9,000 depending on your loan type and the tax base for that property. Sellers, on the other hand, often receive requests from buyers that they pay the closing costs for them. Most of my sellers, frankly, get up in arms about this—why should they pay for the buyer’s closing costs on top of their own? The truth is that you don’t owe it to the buyer to pay their closing costs. The buyer is simply saying that they’d like to finance their closing costs. “It’s important for you to work with your lender to understand your closing costs.” If your home is for sale for, say, $500,000 and the buyer’s offer came in for $500,00, but they asked for $7,000 in closing costs, you might think, “Great! I got my $500,000, but I don’t really want to pay for the buyer’s closing costs.” In reality, the buyer is offering you $493,000; they want to save that $7,000 by not tacking onto their loan. You’d just need to take your emotions out of play and decide if an offer of $493,000 is acceptable to you. The truth of the matter is that it’s important for you to work with your lender to understand your closing costs. And as a seller, I encourage you to work with an agent (like myself) who can demystify and break down every offer by each one’s individual strengths. That way, you can understand what your net profit will be after all the fees are paid. If you have any questions about closing costs or anything else to do with real estate, reach out to us. We’re here to help.

What does it cost homebuyers to hire me as a representative for their purchase? Find out here. What’s the price attached to working with me as your buyer’s agent? Nothing at all. In terms of working for you as a buyer’s agent, my fee is covered by the seller. The seller hires a listing agent, pays that agent a commission, and that agent shares the commission with me, the buyer’s agent. So, if you and I are working together and looking at properties, particularly those on the MLS, my compensation is paid for by the listing broker. Now, does it cost you something indirectly to work with me? Of course it does! If neither I nor the listing agent were in the picture, you’d probably pay a little bit less for the home and the seller would make a little more money. However, you’d be doing all the work yourself with respect to all the forms, documents, inspections, due diligence, and everything else required to close a transaction. Depending on your level of experience, you may or may not know how to do that on your own. We’re here to cover your needs. We represent you, we write the offer on your behalf, we negotiate for you, and we manage all the pieces. There is one price that I ask for, and it isn’t monetary—I don’t ask for upfront checks, a retainer, or anything like that. I’m spending a lot of time with you while being away from my family and away from other clients, so the price I ask for is your loyalty. “In this market, neglecting to hire a buyer’s agent doesn’t pay off.” If we’re going to work together, I’ll be compensated at the closing table. Frankly, I wouldn’t even mind spending a year with you looking at houses, only for you to decide that you wanted to rent and not buy. My goal is to give you the best service; if I’ve helped you make an informed decision to rent instead of buy, I’ve done my job. I might mind if you worked with me for six months and then had your newly licensed sister write the offer in the end. In the end, it’s important to treat people the way they want to be treated and to make sure that we have an exclusive working relationship. If, for example, you took four agents and said that whichever one finds you the house you want and helps you buy it is the one who gets paid, I’d only have a 25% chance at being the one who helped you. I can’t coach and guide you if I’m only 25% aware of what you’re doing. In this market, neglecting to hire a buyer’s agent doesn’t pay off. You won’t save any money, you won’t get paid more, and you won’t have the professional guidance to help you navigate complex situations. If you’re looking forward to having that kind of relationship in your next transaction, reach out and ask Sarita. I’d love to have a strategy session with you and discuss how I can help you in this market.

If your offer on a home is rejected, don’t worry—there are ways to still get the home you desire. Say you’re a buyer, and you’ve placed an offer on a home. What happens if the seller rejects your offer? Even with the greatest offers, you sometimes get rejected. It simply means if you take the emotion out of it, that the seller did not want to accept the offer the way it was written. Usually, they will respond in one of two ways. They will either reject the offer outright, or they’ll counter with terms that are acceptable to them. If they reject the offer outright, again, try to take the emotional part out of it. This could just mean they had numerous offers, and another was stronger. But if you’ve submitted the only offer, the most frequent occurrence is a counteroffer. This puts you in the driver’s seat. You get to sit down with your real estate team and gauge their present offer. We’re going to assess each factor and decide what works best for you. “Even with the greatest offers, you sometimes get rejected.” When you choose to work with me and my team, we’re going to work together to create the strongest possible offer. As your buyer’s representative, it’s critical that I represent you and find what works best for you for this home. The truth is, you are going to have a different incentive for every home—different reasons you want to buy this particular property. Our approach will depend on what this home means to you and what personal value to put on it. I’m looking forward to working with you to create strong offers and evaluate your options. If you’d like to work with me or learn about this process in more detail, give me a call or email me, I would love to work with you!

When I’m working with a buyer and we find a house they like, one of the most common questions they ask me is what the house will sell for down the line.  My usual response? I don’t have a crystal ball—If I did, I’d be in Vegas betting on horses or blackjack. That’s meant to be a joke, but the truth is that I don’t know what the future holds. It would only be speculation to tell you with certainty what you’ll make on your home sale sometime in the future.  To answer questions about the future, we look to the past and cite historical indicators (appreciation rates, employment figures, inventory, etc.) to help you make an informed decision. “It would only be speculation to tell you with certainty what you’ll make on your home sale sometime in the future.” In general, if you told me you were thinking of buying a house that you would sell within a year or two, I’d be nervous whether you’d be able to cover the 7% or so in fees it would take to sell the house.  On the other hand, if you told me your timeline was three to five, five to seven, or seven to 10 years or more, I wouldn’t be worried—especially considering what we’ve done price-wise in our marketplace.  Pricing and appreciation are very local. Even in the same city, certain neighborhoods appreciate much quicker than others, depending on their desirability, which school district they’re located in, and the resident turnover.  The bottom line is, it’s very difficult to make blanket statements involving just one number. However, if you’re curious what you might get in terms of appreciation and want to look at some historical factors that will give you a good indication, I’d be happy to sit down with you and have a strategy session.  If you’d like to schedule a free consultation or you have any other real estate needs I can take care of, don’t hesitate to reach out to me. I’d love to help you.

The No. 1 question I get from sellers is something akin to, “How much is my house worth? How do we price this thing?” There are actually two approaches to pricing your home to sell: First, we could use automated data. By giving me your address, we can use automated data (including past sales in the area) that will plug the information into an algorithm and will generate an estimate. This is more of a guideline to pricing your home, since the computer has never been in your house to know its true value. “The best price is one that the seller is willing to take and that buyers are willing to pay.” Second, try having an agent do a personal evaluation. One quick way to get this sort of guide is to do an online evaluation, but for it to be even more accurate, you’ll want to do a more personalized one.  A real estate professional like me can come to your home, evaluate its condition, and compare it to other, comparable homes that have sold (aka “comps”). Using that information, we can determine a range of prices appropriate for your home. If you price your home beyond the maximal range, it’s probably too high to be tenable.  Essentially, to help you make your decision, we’ll use data to set guidelines for your price, and then we work with you to figure out your goals, and then we apply intuitive knowledge about what the market is currently doing. When all these factors come into alignment, I’m confident we can come up with a pricing strategy that works for you. If you’d like me to come out and help you price your home, reach out to me. I’d love to help you.

“This particular house has been sitting on the market for what feels like forever. Why won’t it sell, Sarita?”  Dozens of buyers have asked me this question over the course of my career in real estate. The reasons might vary for why a home isn’t selling. It could be the house itself, the price, the marketing, or a deeper story. After a while, buyers start to wonder, “If it’s so great, why is it still available?” “If a home is priced with all factors considered, just about anyone would and will buy it.” In a red-hot market with lighter inventory, a home that has sat for long periods can normally be traced back to the house itself or its price. Especially here in Portland, when a home is priced too high, buyers simply hold off, rather than risk offending the seller with a lower offer or having their offer rejected.  So they quietly sit back and bide their time to see what happens. After weeks or months go by and the home starts to stagnate, buyers’ imaginations run wild with speculation as to why it might still be available.   If you’re a buyer, the best way to handle this is to consult with a real estate professional and let them research the history with you. Sometimes, yes, the home has a fatal structural flaw or it sits right off a noisy freeway or some other qualities buyers find undesirable. However, I’m here to tell you that I think there’s a buyer out there for every home and vice versa, and if it’s priced with all factors considered, just about anyone would and will buy it.  It boils down to understanding the home’s history and proper pricing and working with a professional who can compare the home against similar properties to better understand what’s going on.  If you have any questions about a specific property that has been sitting for quite some time on the market and you’d like to know its story, please don’t hesitate to ask Sarita. Let’s work together to learn its story. I hope to hear from you soon!

The way we live life every day is very different from how we live when our homes are on the market. Most sellers want to be present when buyers come to visit because frankly, it’s a little weird to have other people going through your home, your closet, and other personal things and not being there to explain or monitor the proceedings. However, home sellers shouldn’t stay at home during showings. Why? Because you want the buyer to feel comfortable enough to talk about your home (positively or negatively) as they get closer to making a purchasing decision. That won’t happen if you, the seller, are present for their showing. The buyer may be polite to you and say only nice things about your home, which isn’t necessarily their most honest feedback. “Pun intended, you want your home to show in the best possible light.” To make sure your home shows beautifully when it does come time for showings, light up your house as much as possible, ideally with natural light. For those darker areas that natural light won’t illuminate, use artificial light; you can’t rely on every agent to turn on all the lights. Pun intended, you want your home to show in the best possible light. Next, declutter your home. Remove your sundry belongings from the countertops and other catch-all surfaces. Store away any personal items, as well—operate with the assumption that any potential buyer is interested in your home and remove anything that might affect how they would place an offer. Take a little effort to remove any odors from your home, including food, pet, and chemical smells. Similarly, clean your home from top to bottom. Mind you, your standards for clean are likely different from a professional cleaning service, so I recommend that you have your home professionally cleaned. Finally, make sure that your home is properly heated or cooled. If it’s wintertime, be sure to heat your home to a comfortable temperature; if it’s summertime, be sure to have the air conditioner set to a neutral temperature.  Much of this seems like common sense, but you’d be surprised at the number of people I have to coach to follow these guidelines so that their showings can go as well as possible. If you have any questions about making your home appear its very best to impress potential buyers, don’t hesitate to reach out to me today. I’d love to guide you in the direction of success.

So you got your home inspection done. Now what? This is probably one of the scariest moments for buyers during a real estate transaction. You’re excited about buying the home, but you just paid someone $500 to find out everything that’s wrong with it, and now you have a report giving you answers.  As an agent, I can also say that this is the one instance during the transaction where it’s difficult to coach a buyer. I don’t want to sound “sales-y”, but it’s important for me to share my experience in terms of what’s normal and what’s a safety concern. Remember—if you pay someone to find out every single thing that’s wrong with your future home, they’ll do exactly that. The key is to work with your agent to understand the difference between what’s important and what’s not. “At the end of the day, it’s a tedious but necessary part of the home buying process.” Let’s say you have a vintage BMW that you’ve driven forever and love dearly, but now you’re thinking of selling it. If you take it to a mechanic and tell them to find everything that’s wrong with it, the results will be pretty disheartening. They’ll not only detect major items that might affect the performance of the car, but they’ll also notice all the little imperfections. Once you’re aware of these issues, it’s easy to feel pressured into addressing every single one of them.  When it comes to home inspections, though, the goal is to find issues that may not be apparent and then give you a baseline of the home’s condition. That way, you can make a plan for how to maintain or improve its condition moving forward.  At the end of the day, it’s a tedious but necessary part of the home buying process. If you have the right agent beside you, it’s the best way to make an informed decision regarding the rest of the transaction.  As always, if you have any questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d be happy to help you.

Schools are such a big deal and it’s one of the main reasons people come to me about wanting to buy or sell a home. People love their homes, but as their kids start going into middle school and high school, they often realize they want to make a change based on the school. The first thing they want to know is what schools they should be in. If they ask me, quite frankly I can’t answer, because it depends on so many different factors that are different for each family. What I can do, however, is point you to a couple of resources. The first is greatschools.org. It rates each school based on a 1 to 10 scale and you’ll see Yelp! style reviews and testimonials, but please take them with a grain of salt. You may run into someone writing a review that has a conflict of interest. “We can help you create a home search based on school district.” Another source is the Portland Monthly School Guide. Though it’s a few years old, it breaks things down by the numbers which can be very helpful. It has a lot of statistical information for you to compare with other schools in the area. The other thing I really enjoy about being in real estate is that I have a great network of clients who have kids in schools all over the area. If you’re interested in a certain school, I’d be happy to connect you with a client who has or has had kids at the school so you can get some more of your questions answered. We can also help you create a home search based on the school district you’re looking in. If that’s something that’s important to you, we can certainly help make your search a lot easier if school is important to you. If you have any questions for me or you’d like to sit down to create a buying or selling strategy of your own, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon. Portland Monthly School Guide: https://www.pdxmonthly.com/features/portland-school-guide

You only get one chance to make a first impression, which is why I believe staging to be one of the most crucial steps in the home selling process. If you aren’t already familiar with what staging is, allow me to explain. Staging is the process in which a professional designer furnishes and decorates a listing before it’s shown to buyers so that they can better visualize its potential.  I’ve been implementing staging since my very first year in the industry, and while some may think this is just my way of trying to get clients to spend more money, it actually isn’t. As an agent, I truly care about your success. I want you to get top dollar for your home, and staging can help you do just that. There are three main reasons why: “Staging your home not only helps buyers see your house as their future home, it also helps you to sell faster and for more money.” 1. Stagers have great taste. This doesn’t mean that you have bad taste, but your preferences are likely highly personal. Not everyone likes the same things when it comes to home design, and professional stagers know how to create a neutral, yet attractive, environment.  2. Stagers are masters of optics. Professional stagers have a lot of tricks up their sleeves when it comes to playing up a home’s features in ways the average person would never consider. If you happen to have a small living room, for example, a stager will know exactly how to make it look more spacious. 3. Staging can distract from small problems. The goal isn’t to deceive buyers, it’s simply a matter of drawing their eye to positive details instead of negative ones. When your home is staged; buyers are far less apt to focus on small imperfections.  The bottom line is that staging your home not only helps buyers see your house as their future home, it also helps you to sell faster and for more money. 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.

If you’re thinking of buying a fixer-upper, there are four important factors you need to take into consideration before you get started. First, you need to evaluate the home’s price. Make sure the property is priced appropriately for its condition and you know what its price will be after all the repairs and upgrades have been done. Next, you’ll need to figure out what you’ll be able to do on your own versus what you’ll outsource. Repainting or laying down a new carpet is one thing, but doing any plumbing, electrical, or foundational work is something that’s probably best left to the professionals. “There’s a lot of opportunity in fixing and flipping a home, but it’s not without its headaches.” After that, you’ll need to get good repair estimates. A kitchen repair might cost anywhere from $20,000 to $50,000, but getting a contractor to take a look at it and give you an accurate estimate will make all the difference. Finally, make sure you know your stress limits. There’s a lot of opportunity in fixing and flipping a home, but it’s not without its headaches. Many times, these projects take longer than you think and end up costing more than you originally estimated, so your ability to deal with these kinds of variables is crucial. If you still want to go through with buying a fixer-upper, don’t hesitate to give me a call so I can help you get started. If you have any other real estate needs, feel free to reach out to me as well. I look forward to speaking with you.