Tired of burritos Portland? Try a Kati Roll at Bollywood

Bollywood curry dish

Not very often do I get a chance to slip out of the house for a quick bite to eat with my honey.  Instead of the standard mexican fare I wanted to spice it up.  We decided to give Bollywood on Division a go.  It’s been on my list since the first location opened on Alberta.  The moment I passed by, the vibe, decor and tantalizing smells drew me right to the window.  My nose was pressed against the glass people.  I couldn’t believe what a fun, color filled spot I was looking in on.  Last night we gave it a try and they did not disappoint!  For the cost of visiting your local taco shop, you can have curries, chutney and samosas with quick service to boot.  I’ll be back.

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Seattle’s Spite House Sold

SEATTLE – If you were hoping to buy a little slice of Seattle folklore, sorry – you’re out of luck, as Montlake’s “spite house” officially went off the market over the weekend.

The real estate agent for the seller confirmed the 830-square-foot house built out of spite has sold.

The iconic – and tiny – pie-shaped home was only on the market for several weeks before getting snatched up.

Read more here:
http://www.komonews.com/news/eco/Tiny-house-built-out-of-spite-sold-229728421.html

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Real Estate Timing in the Fall

People often ask us about market timing. When is the best time to search for a new home? When is the best time to put our home on the market? The real answer is that there is no real answer. Trying to play the market is a lot like gambling. Sometimes you win, sometimes you lose, and most of the time success is in the luck of the draw. It’s best to move based on the needs dictated by your family and job, or to become a landlord based on your long term investment goals.

And yet… RMLS reports that in August (the most recently compiled statistics), the inventory of homes on the market was down to its lowest level in more than two years. That wasn’t just because people weren’t putting their homes on the market, it was at least in part because sales were up 28% compared to August 2011. And more buyers are out there needing homes. While I still don’t recommend playing the market, if you’ve been holding off on putting your home up for sale, these statistics show that you might want to start thinking about it.

Buyers might look at this and wonder, if inventory is so low, are there enough homes out there to choose from. They’re out there, but if you’re looking in a high demand area you may have to be patient while looking and move fast and aggressively if you find it. Low interest rates are keeping buyers active, and many of you are looking for the same thing. Despite the occasional challenge, those interest rates are exactly why you should consider looking now – when they go up it could make a huge difference in your purchasing power.

As for the timing, history may show this to be one of the strongest fall selling seasons in years… but we won’t know that until it’s history. Traditionally a season of slowing down and settling in for the long winter, this year may be different. Sellers are encouraged by the strong market. Buyers are encouraged by unprecedented interest rates. Plus the sun is out, which has a serious impact on showings. So the answer to that question about when to get into the real estate market may be answered with one word: now.
 
(Also, don’t pick on my luck of the draw metaphor. I’m not a big gambler.)

If you think now is the right time, or want to talk about when now might be right, then give me a call.

~Amy Seaholt
 503-936-8705
 amy.seaholt (at) comcast.net

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Active Listing Snapshot – Portland Metro

This is a great shapshot of active listings in the Portland Metro area, put together by our local RMLS ~Regional Multiple Listing Service. With luck they will continue doing them.

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Kitchen Ideas on Tour

Portland’s Architectural Heritage Center is hosting their annual Kitchen Revival Tour this coming weekend. The tour opens restored and remodeled kitchens to the public. The focus, as you might imagine from the Architectural Heritage Center, is on kitchens that have retained the feel of the period in which they were built. It’s a great source for ideas. Or you can tour and wonder how on earth people manage to cook with so little counter-space. Either way, if you’re interested in older homes it’s worth your time.

If you would like to put your older home on the market, give me a call: 503-936-8705.
~Amy Seaholt

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Home Staging 101 – a few tips

Having trouble moving from “for sale” to “sold”?  In this buyer’s market, you are not alone. But there are a few important steps you can take to help yourself standout from the pack. The best thing to do in nearly every situation will be hiring a realtor. Our knowledge of real estate will always be an asset in the process of staging and marketing your home.

After hiring a Realtor, the next thing you should do to stage your home is improve the exterior. This is, after all, the first thing you’re potential buyer is going to see and you don’t want to start off the transaction on the wrong foot. Mow the lawn, pull the weeds, clean the gutters- all of those chores you hate to do are especially important here. If needed, make sure to give the house a new coat of paint and/or replace any broken windows.
Once you get your shopper through the front door, it’s time to freshen up the inside. One of the first things anyone will notice is your flooring. Tile or wooden floors will be easy enough to clean, but if they are carpeted, you’ve got two options to consider. If the carpet is recently installed, a steam clean will most likely do the job, but if the carpet has been there for a few years, it’s most likely time for new carpeting. Sometimes you have to spend money to make money and this is definitely one of those times.
There is an ongoing debate on how many personal effects should be left in plain sight. While some prefer to hide them all and others say to leave them all out, I tend to go with a middle of the road approach. Leave a few personal items, such as pictures or other family items, but make sure that visitors can easily connect with them. They should speak to the widest possible audience, because you are trying to show them how this could be their new home.
In addition to what they see, the other most important sense is smell. If you smoke, have pets, or just have a home that doesn’t smell too fresh, consider throwing on a new coat of paint. This helps cover up smells that have been absorbed into the walls. Baking cookies and using air fresheners (within reason) can also help.
By following these tips, you can significantly improve the chances of attracting buyers who will be much more interested in purchasing your home. Of course, hiring a Realtor will always be the best way to get your house off the market. For more info on how to sell your home, contact Amy Seaholt or Elena MacPhee, today!
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Value and Space Are So Very Subjective

NYC front yard on 10th st.
(screen grab courtesy of Google Maps)

I was on vacation in New York City last week, taking a walking tour of the Greenwich Village and Chelsea neighborhoods. While on tour, the guide pointed out a street that had front yards – Actual front yards! – and was clearly excited about this 3-foot-deep patch of grass. My first instinct was to laugh, but after spending only a few days in the hustle and closeness of the city, I could see where her excitement was coming from. Space, in New York, is at a premium. It adds tremendous value to a home.

It got me thinking about how our differences in experience can change our perspective and influence our wants and needs when we’re looking for a home. In Portland, a high value is placed on homes that are walkable to shops and restaurants, particularly in certain close-in neighborhoods. Those houses have maintained value better during the real estate downturn because native Portlanders have collectively decided that we find it important to, at least occasionally, get out of our cars and enjoy even a peek of sunshine.

It’s not important for everyone, though. Recently I worked with some people who were relocating from a suburb outside of Atlanta. They were accustomed to large lots in gated communities, and were having a hard time seeing any value in the close-in neighborhoods that I mentioned above.

In other words, perspective effects experience in nearly every situation in life. Including real estate. Portland was the 37th most expensive housing market in the country last year. Some transplant clients (Atlanta suburbs) think it is absurdly overpriced, while others (New York) thought they could get a fantastic bargain.

Interestingly, nearly everyone comes to the have the same perspective about Portland after living here. People tend to fall in love with it, though it may take a couple of rainy seasons to do it.

If you’re looking to move into your next overpriced bargain of a perfect home, give me a call or email.

Amy Seaholt, Oregon Broker, CDPE
503-936-8705
[email protected]

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Plan to Make Your Spring Beautiful – Get Ideas Feb. 17 to 19 2012

Spring is coming, and no blustery wind can blow hard enough to keep it from greening our beautiful city. Though the days are still cold and (occasionally) rainy, now is the time to think about what you want to plant and plan for in the warmer days ahead.

If you’re in need of planning ideas, put Portland’s Yard, Garden and Patio Show on your calendar. The show runs February 17 to 19 at the Oregon Convention Center. Dennis’ 7 Dees landscaping hosts the event, which is one of the largest consumer gardening shows in the country. Look for gorgeous showcase gardens for inspiration, and days filled with seminars on how to make those showcase ideas come to life in your own yard.

And if you’re a brown-thumb, like me, it’s still a wonderful place to get ideas for your dream garden – that I may have to hire somebody else to bring to fruition.

If you’d like to buy a garden of your own – and a home to go with it – contact me: [email protected] or 503-936-8705.

Tickets to the Yard Garden and Patio Show can be purchased a the doors for $12. Kids 12 and under are free.

– Amy Seaholt

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When it Comes to Inspections, Wish for Rain

It was another sunny weekend here in Portland. Though I am definitely a fan of the fair weather on a personal level, professionally I secretly curse the lack of winter rain. Searching for a home in winter can have it’s disadvantages – the inventory can be scarce as sellers wait until spring to put their homes on the market and gauging what a garden will do in the spring is nearly impossible. But there is one distinct advantage that makes me want to tell every client to buy in the winter: water.

When the (normally) heavy Northwest rain falls, a homes water issues can become apparent, revealing issues that in summer may be nearly impossible to see. I have some clients, dear friends, who I helped with the purchase of their dream home in summer. They called me justifiably upset after the first rain the fall after they moved in. Inches of water in their basement. I felt horrible for them! The challenge is that there were few signs of a problem in the basement, save for slight water marking that is actually pretty common in older homes. And if the home has Portland Cement – that porous aggregate so common in homes around here – dry weather makes it even more difficult to tell if it’s a big problem like my friends had, or a smaller issue of seeping. (I realize that this example is also about the failure of the sellers to disclose the water intrusion, which is unfortunately difficult to prove, though depending on the situation may be worth pursuing in court. Fodder for another post.)

But there are the successful examples, too. I helped another friend purchase a home through Fannie Mae, who as a bank are not able to provide a detailed disclosure. The inspector found a roof leak because of staining on the living room ceiling. Once that dried in summer the problem may not have been apparent. Another client purchased a fixer where the walls seeped and mildew was beginning to grow. They were able to financially for the needed repairs. A good thing, because once summer rolled around the basement dried out and hid it’s issues.

You and you family should decide to purchase a home or investment property in whatever season works for you. Just know that every season has its benefits and drawbacks.

One of the best things you can do is to hire well-recommended inspectors to investigate any issues with your prospective property. I like the guys over at Associated Master Inspectors, and Elena likes to use Home Inspections NW. While we can’t unearth every problem, between good inspectors and Realtors, like Elena and I, who are willing to do as much homework as we can to find out the complete picture of a property’s condition, you can do all you can to minimize surprises once you own the home.

If you are thinking of buying a home any time soon – whether winter, spring, summer or fall – I’d be happy to help you unearth the right home for you and be aware of its condition when you buy it. Give me a call at 503-936-8705 or email [email protected].

-Amy Seaholt
    

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Is It Possible to Turn Your Current Home Into Investment Property?

If you’ve ever considered keeping your current home as a rental, and using this “buyer’s market” to get into your dream home, 2012 will be the time to seriously consider it. There are a lot of factors indicating that this is probably a wise decision if you have the means. Below are just a few things to consider:

  • I’m not going to lie – it’s a tough market for selling your home. By keeping it, you could take advantage of market timing. I don’t always recommend trying to anticipate or “play” the market (usually it’s best to make decisions on what’s right for your family, not by RMLS and NAR data), but in this case, you may be able to buy in a low market and wait several years for a small recovery before you sell.
  • Due to the recent decrease in home ownership in the past couple of years, the demand for rental property is at a high. I think it’s a sad predicament – that housing is both difficult to find and at a premium. Moving out of your first-time home and adding a well-kept property to the rental pool might help both parties – renters and investors – in this climate. 
  • The Federal Reserve announced Wednesday that it anticipates keeping the federal funds rate low through 2014. While these inter-bank interest rates don’t immediately affect consumers, they do eventually influence the interest rates consumers pay on their home loans. The challenge is that interest rates are higher for loans on investment property. However, if you’ve lived in your primary residence for a year or more (check the fine print on your loan terms), you may be able to keep your current loan in place and still take advantage of primary home rates on your new property.  
If you’d like to explore whether this option will work for you, it’s usually best to start by speaking with a lender. The two of us can work together to help you figure out if there is enough equity in your home and if there are  mortgage options for this approach to work for you.  
If you’d like to start receiving listings that fit the bill for your next home sent directly to you, sign up via my search website here. If you need a lender suggestion, I work with some great people! Call me at 503-936-8705 or email [email protected] for contact information. 
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