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Orginal offer, $200k. NOT GOOD ENOUGH! Final offer, $290k, after two days on the market. The property was previously listed at $265,000 with another realtor for 2 years in 2018. BIG WIN!

Weekly Report

1/14/2021
More time, more attention, best outcome.

Hey Neighbor, 

 

What’s up? How’s your week going? It really cleared up after that rainstorm we had a few nights ago (I’m ready for summer haha). That next morning I went to check on a few properties to clear any down branches, etc, and I discovered a tree fell down on one of the lots I have listed in SW. I'll include a pic below. The tree fell only feet away from the neighbor's basketball hoop, where their son plays. Thankfully the young boy was not practicing his jump shot amid the storm. He is safe.

 

Well, it’s been a busy week fighting for my clients, and I FIGHT for them. It is my job to net them the most amount of money in every sale. I do not believe in splitting the difference. Big win this morning negotiation on a lot sale. Original offer- $200k, final offer- $290k. BIG WIN! It had been listed by another realtor for 2 years from about 2018 on at $265,000. We had it listed for 2 days. What are you working on?!  I’m almost through my first to-do list of the year. If you need help with anything, let me know and I’ll put you on my next one. 

 

Have a great day and weekend. I think the rains will be rolling back in. If any trees come down on your property and you need help, let me know!

 

Best, 


Evan Zener 
Strong|Edge Realty Team w/eXp 
strongedgerealty.com
971-285-0847

RMLS Numbers are out for December. The late-season continues. More on that next week! 
Portland-Metro Market Report - 2020 review 
December Residential Highlights
New listings (1,740) increased 37.0% from the 1,270 listed in December 2019, and decreased 22.3% from the 2,238 listed in November 2020.

Pending sales (2,003) increased 13.0% from the 1,772 offers accepted in December 2019, and decreased 21.7% from the 2,557 offers accepted in November 2020.

Closed sales (2,789) increased 26.0% from the 2,213 closings in December 2019, and increased 1.6% from the 2,745 closings in November 2020

Inventory and Total Market Time
Inventory decreased to 0.8 months in December, the lowest on RMLS™ record. Total market time decreased to 40 days.

Year-to-Date Summary
Comparing the twelve months of 2020 to the same period in 2019, new listings (38,442) decreased 5.3%, pending sales (32,849) increased 7.9%, and closed sales (32,031) increased 7.8%.
Total active listings continue to fall. 1.1 months was the lowest inventory the RMLS had on record. That number has continued to fall, hitting 0.08 months in December.
The average total market time has stayed around 40 days through the summer, fall, and now into winter. 40 days is typical for your average spring season. In some aspects, the late real estate season continues!
Zillow Home Value Forcast
Zillow's Market Review & Forcast

The typical home value of homes in Portland is $497,589. This value is seasonally adjusted and only includes the middle price tier of homes. Portland home values have gone up 8.5% over the past year and Zillow predicts they will rise 10.4% in the next year.
Zillow's 1 Year Forcast- review 

Zillow should include an explanation. I don't think this kind of growth is sustainable. The price increase that we've had over the past several months has been largely due to low inventory and low mortgage rates. Do I think prices will rise 10%  in the next year? If inventory stays historically low, maybe, but I believe those price gains will be short-lived and when inventory rises, I think that number will re-adjust and drop. Another thought: if a portion of the market are sellers who were forced to sell, as a result of the pandemic, and are willing to take a lower price that could drive down prices further.
Redfins Median Sale Price Growth Chart
Here is Redfin's median sale price growth chart over the past 3 years. A little different from Zillow's graph. A little more detailed. In this chart, we're seeing a dip in the last month, which I'm not seeing in any of the RMLS's reports. We haven't gotten back Decembers numbers for all of Portland-Metro yet, but Multnomah county is in and we saw a %11.56 year over year growth in Dec, which is up from the %9.87 increase in November.
We make food in the spirit of dining out— with the best ingredients, beautiful plating, and perfect timing— to enjoy in the comfort of your own home. - Ripe Cooperative 

Here is a cool looking new food place that makes dine-in quality meal boxes for you to enjoy in the comfort of your own home. I love the innovation!! Gotta keep moving forward!
View Website
Hey, this looks fun. Something actually to do! I'm going to check it out and report back.

Due to popular demand, our unique distanced outdoor skating events will be BACK at the Lloyd Center for the Holiday school Break (excepting Dec 24th and Dec 25th). Join us in the open-air, covered parking garage for some winter skating fun!
View Event
Stay tuned for more fun things to do next week!
TREE DOWN!!! Knowone was hurt.
Property Discount Text Group
Property Discount Text Group- Sign Up & receive text message discounts on services local home service providers I work with are offering, exclusively through me. 
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