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Covid has changed everything, including real estate. What do those changes mean to you?
I doubt our retail or school environment will be going "back to normal" soon, but one thing that all the economists tell us is that the values in Portland and Vancouver will continue to be robust!
If you're a seller, you may be wondering if this crazy appreciation can continue...and if you're thinking of selling, timing is everything. You've heard "location, location, location", but what about "timing is everything"? This is especially true for RESALE homes. If you've not been paying attention to the NEW CONSTRUCTION that is showing up everywhere, you may want to consider how your home stacks up against a brand new home. This is a pertinent conversation for ANY potential seller! New construction projects that were stalled are now being completed, and those builders are doing some price reductions to compensate for holding costs.
As a buyer, changes we're seeing include reduced (or non-existent BACs)...does mean that you'll have to pay your buyer's agent a commission? MAYBE! Many of the "cheap" or discount brokerages don't include a BAC (buyer's agent commission) in the listing, so having your own representation is something to consider. If you think "Oh hey, I'll just contact the listing agent!" think again; who will negotiate for you? The listing agent by law owes a fiduciary duty to the seller, their job is to procure the MOST money possible for the seller. Having your own agent insures that your needs are met, specifically with regard to the inspection. What if the buyer's inspector finds many issues that will need to be remedied before the loan can fund? Does it seem reasonable that the seller's agent will fight for you? These are important considerations.
If you’re in the market to buy or sell a home, you’ve come to the right spot. Whatever your real estate needs, I can help you reach your goals with confidence. Licensed in Oregon and Washington, I'm a powerful negotiator, this is what I do.