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Accessory Dwelling Units: Housing and Rental Options

2/1/2023

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Most likely you have heard the terms “granny flat” and “in-law apartment”. These are examples of Accessory Dwelling Units (ADUs). These small units, either attached to your home or as a freestanding unit on your property, are great options for families who wish to have a member, such as an elderly parent, live close by. ADUs are also more affordable options for family members who are not yet in the position to own their own home.  
 
ADUs have a kitchen, bedroom, bathroom and living area which makes them ideal as rentals. However, because they share utilities with the main home some simply use them as office space, a personal gym or a guest house.  
 
Although the cost of an ADU can range anywhere from a few thousand dollars to much more, they can add to your home’s overall value, sometimes as much as 35%.  
 
Different municipalities have their own specific regulations regarding ADUs. If you are interested in learning more, please let us know and we will help you get started in that process. We are here to answer any other questions you may have about real estate and help you through every step of your transactions. Please feel free to reach out to us any time!
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Common Real Estate Terms

1/15/2023

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This month I am sharing a list of some of the more common terms you may hear regarding real estate transactions. If you have any questions on these or any other real estate-related concerns, please feel free to reach out to me. I’ll be happy to help you out

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December 2022 - Market Action Report - Portland, OR

1/11/2023

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Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of December 2022.  Click on the image below to see the full detailed report.
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Home inventory* dipped back down to 2.3 months. 

The median sales price is down a bit (-0.7%) over December of last year now at $507,500. 

December 2022 vs November 2022
New Listings are down 35.6%
Pending Sales are down 19.5%
Closed Sales are down 9.7%


December 2022 vs December 2021
New Listings are down 32.9%
Pending Sales are down 37.9%
Closed Sales are down 43.3%


Homes are taking roughly 3 weeks longer to sell than they did in December of 2021.
*Home inventory refers to the length of time that it would take to run out of houses to sell if we continue selling at the current rate without listing any additional homes for sale.
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Looking Ahead to the 2023 Real Estate Market

1/1/2023

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As we start a new year, the real estate market is once again shifting. After a historic run, with home sales and prices reaching record highs, they are leveling. Mortgage interest rates continue to be affected by Federal Reserve decisions to address inflation.
 
This month we are sharing with you some well-researched statistics on how the real estate market reacted in the last half of 2022 as well as projections for 2023. Inventory is still low, but buyers now have a few more days to make their decision and may be able to ask for seller concessions. Sellers who price their homes right will be well positioned in the market. It’s also important to remember – there will always be buyers and always be sellers – no matter the market! 
 
We are also sharing with you a couple websites where you can find additional easy-to-understand information on mortgage and real estate statistics.
 
We are here to answer any questions you may have about real estate and help you through every step of your future home sale or purchase. Please feel free to reach out to us any time!
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Fun Winter Crafts for Kids

12/15/2022

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This month we're sharing some fun ideas for kids’ winter crafts projects. They are great ways for the little ones to use their imaginations and create items that can be displayed or given as gifts. Pass these ideas onto your family and friends who have kids, too. They will appreciate it! 
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November 2022 - Market Action Report - Portland, OR

12/12/2022

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Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of November 2022.  Click on the image below to see the full detailed report.
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Home inventory* has increased to 2.6 months. 

The median sales price is UP 1.6% over November of last year now at $525,900. 

November 2022 vs October 2022
New Listings are down 33.7%
Pending Sales are down 18.4%
Closed Sales are down 17.1%


November 2022 vs November 2021
New Listings are down 25.3%
Pending Sales are down 43.7%
Closed Sales are down 42.8%


Homes are taking 17 days longer to sell than they did in  November of last year.
*Home inventory refers to the length of time that it would take to run out of houses to sell if we continue selling at the current rate without listing any additional homes for sale.
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Celebrate the Power of Connection This December

12/1/2022

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During December, families gather to celebrate time together and rituals steeped in tradition. As you get ready to celebrate this special time of year, I would like to share a few tips with you on ways that you can honor your family's legacy this month.
 
Many people open their hearts to those in need during the holidays, whether it is donating to an organization with a monetary gift, a physical donation or volunteering for an event. Doing so as a family will not only benefit the recipients but will also create a wonderful memory for your family to remember. 
 
I hope you enjoy this information and have fun sharing it with your family and friends this  season!
 
From our family to yours, best wishes for a happy, healthy holiday season and a wonderful New Year!
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Spread the Gift of Kindness

11/15/2022

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During this time of year, our thoughts are filled with gratitude for those who have supported us in our personal lives and careers. Here are some ideas on how you can host an event that extends that gratitude to helping others in need.
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October 2022 - Market Action Report - Portland, OR

11/11/2022

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Below are the latest Real Estate market statistics for Portland and the Surrounding Areas for the full month of October 2022.  Click on the image below to see the full detailed report.
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Home inventory* has increased to 2.4 months. 

The median sales price is UP 4.1% over October of last year now at $537,000. 

October 2022 vs September 2022
New Listings are down 20.2%
Pending Sales are down 8.4%
Closed Sales are down 12.6%


October 2022 vs October 2021
New Listings are down 22.2%
Pending Sales are down 42.4%
Closed Sales are down 37.5%


Homes are taking 12 days longer to sell than they did in  October of last year.
*Home inventory refers to the length of time that it would take to run out of houses to sell if we continue selling at the current rate without listing any additional homes for sale.
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An Attitude of Gratitude

11/1/2022

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Everyone loves to be appreciated. Taking a moment to thank someone with a gift, a card or even just a compliment, can make their day. Here are some tips on ways that you can show thanks to those who have had a positive impact on your life.
 
It’s also important to remember to be kind to yourself. By following these techniques on practicing gratitude, you will feel happier and calmer.   
 
If you have any questions, please give us a call. We appreciate you and are always happy to help.
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  • Home
  • About Us
    • Mission Statement
    • Rick McDowell
    • Jimmy McDowell
    • Becky Shaw
    • Client Testimonials
  • Sellers
    • What's My Home Worth?
    • Selling a Home in an Estate
  • Buyers
    • Preferred Lenders
  • Our Listings
    • LISTING - Lambert St
    • Listing - Flanders St
  • Home Search
  • Resources
    • Preferred Lenders
    • Business Directory
    • Client Survey
    • Super Bowl 2023
  • Blog
  • Contact Us