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5 Tips for Making a Competive Offer on a Mt. Hood Property

Monday, November 30, 2020
by Liz Warren

When there's only 13 properties on the market on Mt. Hood you have to bring your "A" game to compete to purchase. Here are

5 Tips for Homebuyers Who Want to Make a Competitive Offer

5 Tips for Homebuyers Who Want to Make a Competitive Offer | MyKCM
 

Today’s real estate market has high buyer interest and low housing inventory. With so many buyers competing for a limited number of homes, it’s more important than ever to know the ins and outs of making a confident and competitive offer. Here are five keys to success for this important stage in the homebuying process.

1. Listen to Your Real Estate Agent

A recent article from Freddie Mac offers guidance on making an offer on a home in today’s market. Right off the bat, it points out how emotional this can be for buyers and why trusted professionals can help you stay focused on the most important things:

“Remember to let your homebuying team guide you on your journey, not your emotions. Their support and expertise will keep you from compromising on your must-haves and future financial stability.”

Your real estate professional should be your primary source for answers to the questions you have when you’re ready to make an offer.

2. Understand Your Finances

Having a complete understanding of your budget and how much house you can afford is essential. The best way to know this is to reach out to your lender to get pre-approved for a loan early in the homebuying process. Only 44% of today’s prospective homebuyers are planning to apply for pre-approval, so be sure to take this step so you stand out from the crowd. It shows sellers you’re a serious, qualified buyer and can give you a competitive edge if you enter a bidding war.

3. Be Ready to Move Quickly

According to the Realtors Confidence Index, published monthly by the National Association of Realtors (NAR), the average property being sold today is receiving more than three offers and is only on the market for a few weeks. These are both results of today’s competitive market, showing how important it is to stay agile and vigilant in your search. As soon as you find the right home for your needs, be prepared to work with your agent to submit an offer as quickly as possible.

4. Make a Fair Offer

It’s only natural to want the best deal you can get on a home. However, Freddie Mac also warns that submitting an offer that’s too low can lead sellers to doubt how serious you are as a buyer. Don’t submit an offer that will be tossed out as soon as it’s received. The expertise your agent brings to this part of the process will help you stay competitive:

“Your agent will work with you to make an informed offer based on the market value of the home, the condition of the home and recent home sale prices in the area.”

5. Be a Flexible Negotiator

After submitting an offer, the seller may accept it, reject it, or counter it with their own changes. In a competitive market, it’s important to stay nimble throughout the negotiation process. Your position can be strengthened with an offer that includes flexible move-in dates, a higher price, or minimal contingencies (conditions you set that the seller must meet for the purchase to be finalized). There are, however, certain contingencies you don’t want to forego. Freddie Mac explains:

“Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.”

Bottom Line

Today’s competitive market makes it more important than ever to make a strong offer on a home, and a trusted expert can help you rise to the top along the way.

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Buyer Competiion for Mt. Hood Homes

Monday, November 23, 2020
by Liz Warren

Don’t Let Buyer Competition Keep You from Purchasing a Home

Don’t Let Buyer Competition Keep You from Purchasing a Home | MyKCM
 

This year’s record-low mortgage rates sparked high demand among homebuyers. Current homeowners, however, haven’t put their houses on the market so quickly. This makes finding a home to buy today challenging for many potential buyers. With an obstacle like this, those searching for their dream homes may be pressing pause on their searches as we approach the end of the year, but that could be a big mistake for many hopeful house hunters. Here’s why. 

According to the most recent Housing Trends Report from the National Association of Home Builders (NAHB):

“The length of time spent searching for a home continues to grow.”

The report indicates that 62% of buyers now spend 3 months or more looking for a home, an increase from 58% one year ago. A primary cause for the delay is the heavy competition today’s buyers face when making an offer on a home. Based on recent data from the National Association of Realtors (NAR), the average house in today’s market receives 3.4 offers before it’s sold. This means for every buyer who purchases a home, there are on average two or three buyers who have to begin their search all over again.

Compared to this time last year, the NAHB report shows that buyers are having more success finding homes in their price range. However, it also notes the percentage of buyers saying they’re getting outbid when they make an offer has jumped from 15% to 27%. Buyers are indicating that bidding wars are a major obstacle to finding their dream home (See graph below):Don’t Let Buyer Competition Keep You from Purchasing a Home | MyKCMIf this is a challenge you’re up against in your home search, you’re not alone. Feeling stuck in the process can be frustrating, but if there’s ever been a year to power through, this is the one. NAHB noted:

“Difficulties finding a home to buy will likely lead 20% of active buyers to give up until next year or later. That share is up from 15% a year earlier.”

Experts anticipate home prices will continue to rise into 2021, and the incredibly low interest rates we’ve seen this year are also forecasted to increase as the economy strengthens. Hopeful homebuyers who decide to hold off on their search until there’s less competition run the risk of finding a more expensive housing market when they start looking again. If affordability is a key motivator behind your decision to buy a home, this winter is still the best time to make it happen.

Bottom Line

Bidding wars may be one of the greatest challenges buyers face in today’s housing market, but they shouldn’t be a deal-breaker. Having the right expert on your side throughout the buying process will give you the advantage you need when it comes to finding the right home and making a competitive offer. If you’re ready to buy this winter, let’s connect to discuss how to position yourself for success.

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Winter Real Estate Market on Mt. Hood

Sunday, November 22, 2020
by Liz Warren

          

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Get Your Christmans Tree On Mt. Hood and Enjoy the Outdoors!

Sunday, November 22, 2020
by Liz Warren

Here's a great opportunity to get an affordable Christmas tree in the Mt. Hood National Forest. The forests are open and all you need is a permit. You may purchase a permit for up to five trees per household! Permits are only $5.00 per tree!!!!!!

Mt. Hood Christmas TreeHere are the locations where your permit can be purchased direct from the Mt. Hood National Forest website:

Tygh Valley General Store, 57715 Tygh Valley Road, Tygh Valley, OR. 541-483-2324
Open Monday-Friday 7:00 a.m. to 6:00 p.m., Saturday & Sunday 8:00 a.m. to 6:00 p.m.

Kramers Market, 121 Main Street, Dufur, OR. 541-467-2455
Open Monday-Saturday 7:00 a.m. to 7:00 p.m., Sunday 8:00 a.m. to 7:00 p.m.

Wamic Market and Supply, 57016  Wamic Market Rd. Wamic, Or, 97063. 541-544-2333
Open 7 days a week – 8:00 a.m. - 6:00 p.m.

Tum-A-Lum Lumber, 408 Hwy 35, Hood River, OR. 541-386-1001
Open Monday-Friday, 7:00 a.m. to 6:30 p.m., Saturday 8:00 a.m. to 5:00 p.m., Sunday 8:00 a.m. to 4:00 p.m.

Estacada Tackle Shop, 210 SE Hwy 224, Estacada, OR. 503-630-7424
Open 7 days a week 6:00 a.m. to 10:00 p.m.

Estacada True Value Hardware, 310 SE Main St, Estacada, OR. 503-630-3769
Open Monday-Saturday 8 a.m. to 7 p.m., Sun 9a.m. to 5p.m.

ACE Heritage Hardware, 39181 Pioneer Boulevard, Sandy, OR. 503-668-8731
Open Monday-Saturday 8:00 a.m. to 6:00 p.m., Sunday 9:00 a.m. to 5:00 p.m.

Hoodland Thriftway, 68280 Highway 26, Welches, OR. 503-622-3244
Open Daily: 7:00 a.m. to 11:00 p.m.

Mt. Hood Village Market, 73265 Highway 26, Rhododendron, OR 97049. 503-622-4652. Open Daily: 6:00 a.m. to 10:00 p.m.

Welches Mountain Building Supply, 67250 Highway 26, Welches, OR 97067.  503-622-3000. Open Daily:  8:00 a.m. - 6:00 p.m.

Sportsman’s Warehouse, 9401 SE 82nd Ave, Portland, OR. 503-777-8700
Open Monday-Saturday 9:00 a.m.-9:00 p.m., Sunday 10:00 a.m. - 6:00 p.m.

More info from the Mt. Hood National Forest Website

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Selling Your Property on Mt. Hood?

Friday, November 20, 2020
by Liz Warren

If you're thinking about selling your property on Mt. Hood, think about the average net of 6% you'll gain in your sale without the hassle of figuring all this out by yourself. It Pays to Sell with a Real Estate Agent. 

It Pays to Sell with a Real Estate Agent [INFOGRAPHIC] | MyKCM
 

Some Highlights

  • Today, it’s more important than ever to have an expert you trust to guide you as you sell your house.
  • From your safety throughout the process to the complexity of negotiating the deal, you need a professional on your side.
  • Before you decide to take on the challenge of selling your house on your own, let’s connect to discuss your options.
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How to Prepare for a Bidding War for Your Mt. Hood Property Purchase

Sunday, November 15, 2020
by Liz Warren


What's becoming common place in the Mt. Hood real estate market? It's a bidding war and it's happening on nearly every property that hits the market. Demand has far outstripped supply from Brightwood to Government Camp. There's only 18 properties for sale in the Mt. Hood area. If you are a buyer in today's market, you need to be prepared. Here are a few tips!

 

How to prepare for a bidding war on Mt. Hood

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Mt. Hood National Forest Storm Clean up Scheduled for November 6, 7, and 8

Tuesday, November 3, 2020
by Liz Warren

MHFHA SPONSORED STORM DEBRIS CLEAN UP scheduled for November 6-7-8

 

The Association, with the help of generous cabin owners who have donated to the September Storm Clean up Fund, will hire the equipment necessary to aid cabin owners in disposing of debris from the storm.

 

We will be renting an industrial wood chipper along with hiring an experienced person to run it. We will be renting trailers to pick up and haul debris to a location where the wood chipper will be stationed.

 

Here's what we need you to do should you like to participate:

 

1) Create piles of your storm debris (branches no more than 6" in diameter) from your cabin lot and find a place that is not in or on your cabin road but right next to the road. We will NOT be driving in driveways to pick up debris piles. You can begin creating those piles now.

 

2) Volunteer! We need people with trucks that can pull the rented trailers. We need volunteers to load the piles into the trailers. We need volunteers for a few hours or all day for those 3 days. We will need volunteers to unload the debris at the wood chipping site.

 

3) All cabin roads and all cabins will be included in this project.

 

No material other than natural plant/tree storm debris

 

If you can volunteer - please sign up and tell us your availability (provide a truck with a hitch, man/woman power, what days and hours etc) Please respond to this email and give us your details.

 

We will provide snacks, water and lunch for all workers.

 

If you have yet to donate to the clean up fund - please do so now. September Storm Clean Up Fund

 

To those who have signed up to volunteer - THANK YOU! We will be emailing assignments by Nov 2, 2020. If you would like to volunteer, please email us at [email protected]

 

 

 

​

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Mt. Hood Has Cold Weather Coming In

Tuesday, October 20, 2020
by Liz Warren

Straight From NOAA

Mt. Hood Weather Turning Cooler This Week

Get Your Property Ready for Winter With These Tips From Lowes

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Bidding Wars in the Mt. Hood Real Estate Market

Friday, October 16, 2020
by Liz Warren

How to Prepare for a Bidding War on Mt. Hood

How to Prepare for a Bidding War [INFOGRAPHIC] | MyKCM
 

Some Highlights

  • With so few houses available on the market today, being ready for a bidding war is essential for prospective homebuyers.
  • From pre-approval to making your best offer, here are three tips to make sure you can act quickly and confidently when you find the perfect home.
  • Let’s connect today to be sure you have the guidance you need as the competition for homes heats up this season.
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Low Inventory May Impact the Mt. Hood Housing Market This Fall

Thursday, September 17, 2020
by Liz Warren

Low Inventory May Impact the Mt. Hood Housing Market This Fall

How Low Inventory May Impact the Housing Market This Fall | MyKCM
 

Real estate continues to be called the ‘bright spot’ in the current economy, but there’s one thing that may hold the housing market back from achieving its full potential this year: the lack of homes for sale.

Buyers are actively searching for and purchasing homes, looking to capitalize on today’s historically low interest rates, but there just aren’t enough houses for sale to meet that growing need. Sam Khater, Chief Economist at Freddie Mac, explains:

“Mortgage rates have hit another record low due to a late summer slowdown in the economic recovery…These low rates have ignited robust purchase demand activity…However, heading into the fall it will be difficult to sustain the growth momentum in purchases because the lack of supply is already exhibiting a constraint on sales activity.”

According to the National Association of Realtors (NAR), right now, unsold inventory sits at a 3.1-month supply at the current sales pace. To have a balanced market where there are enough homes for sale to meet buyer demand, the market needs inventory for 6 months. Today, we’re nowhere near where that number needs to be. If the trend continues, it will get even harder to find homes to purchase this fall, and that may slow down potential buyers. Danielle Hale, Chief Economist at realtor.com, notes:

“The overall lack of sustained new listings growth could put a dent in fall home sales despite high interest from home shoppers, because new listings are key to home sales.”

The realtor.com Weekly Recovery Report keeps an eye on the number of listings coming into the market (houses available for sale) and the total number of listings staying in the market compared to the previous year (See graph below):How Low Inventory May Impact the Housing Market This Fall | MyKCMBuyers are clearly scooping up homes faster than they’re being put up for sale. The number of total listings (the orange line) continues to decline even as new listings (the blue line) are coming to the market. Why? Javier Vivas, Director of Economic Research at realtor.com, notes:

“The post-pandemic period has brought a record number of homebuyers back into the market, but it’s also failed to bring a consistent number of sellers back. Homes are selling faster, and sales are still on an upward trend, but rapidly disappearing inventory also means more home shoppers are being priced out. If we don’t see material improvement to supply in the next few weeks, we could see the number of transactions begin to dwindle again even as the lineup of buyers continues to grow.”

Does this mean it’s a good time to sell your Mt. Hood property?

Yes. If you’re thinking about selling your house, this fall is a great time to make it happen. There are plenty of buyers looking for homes to purchase because they want to take advantage of low interest rates. Realtors are also reporting an average of 3 offers per house and an increase in bidding wars, meaning the demand is there and the opportunity to sell for the most favorable terms is in your favor as a seller. There are only nineteen properties for sale in Welches, Brightwood, Rhododendron and Government Camp!

Bottom Line

If you’re considering selling your house, this is the perfect time to connect so we can talk about how you can benefit from the market trends in our local area.

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Displaying blog entries 311-320 of 473

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