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Buying a Home in Portland

Date post: 23-Jul-2016
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PDX Home Group provides important details for buying homes in the Portland area
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Steve Roesch Principal Broker, Owner PDX Home Group, LLC Office 503.213.3550 Cell 503.318.6351 [email protected] www.pdxhomegroup.com Keller Williams Realty Professionals 9755 SW Barnes Rd, Suite 560 | Portland, OR 97225 Each office is independently owned and operated
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Page 2: Buying a Home in Portland

QUESTIONS FOR YOUR BROKER

Steve Roesch • Real Estate Broker

503.318.6351 • [email protected] • www.pdxhomegroup.com

REMEMBER, A BROKER WORKS FOR YOU

Before hiring someone to represent your real estate interests, ask questions like these so that you get a sense of a broker’s transaction process, experience,

local market knowledge and professional credentials. DO YOU WORK FULL-TIME OR PART-TIME AS A REAL ESTATE BROKER? Full-time brokers typically possess more experience than part-time real estate service providers, and their commitment to the job means more time is spent working on your behalf.

HOW WELL DO YOU KNOW THE AREA(S) I AM INTERESTED IN? Any broker can present a list of general information. A reliable broker offers local savvy for buying, selling, and relocation. This includes current home prices, known benefits and possible issues in the area, and how to expedite transactions based on their position as a trusted local real estate expert.

DO YOU WORK ALONE OR WITH A TEAM? Most brokers service several clients at a time. This is why you should ask about time commitment and availability. If you need a transaction to close quickly, your needs are different than someone just feeling out the market. A team is able to manage transactions quicker than an independent broker.

DO YOU DELEGATE TRANSACTION TASKS TO OTHER BROKERS/ASSISTANTS? Some elements of a transaction must be handled by a licensed broker. However, administrative tasks may be delegated to a support team so an agent is available for more meetings, property showing, open houses and so on. Make sure your real estate professional can work with your schedule before hiring them.

WHERE DOES MY SEARCH BEGIN? Professional realtors offer clients a comparative market analysis (CMA). This will show you trends in the area, based on recent sales and historical info. It will also show you homes that are currently on the market, complete with prices, dates, square footage, rooms, and other property details.

Page 3: Buying a Home in Portland

WHY KELLER WILLIAMS REALTY?

• #1 in the nation for agent count • #1 for buyer and seller service

WHY KELLER WILLIAMS PORTLAND WEST?

• #1 one in transactions in the Portland Metro in 2014 • More eyes on the market with over 200 agents

WHY PDX HOME GROUP?

Our team is consistently ranked at the top of real estate reviews nationwide, both at KW and among competing organizations

ABOUT OUR ORGANIZATION

Steve Roesch • Real Estate Broker

503.318.6351 • [email protected] • www.pdxhomegroup.com

Page 4: Buying a Home in Portland

THE PDX HOME GROUP ADVANTAGE

Steve Roesch • Real Estate Broker

503.318.6351 • [email protected] • www.pdxhomegroup.com

The PDX Home Group Team comprises five full-time brokers supported by a transaction coordinator, a listing coordinator and a marketing director whom all enjoy collaborating to deliver positive results to each of our clients in Oregon and SW Washington.

STRENGTH IN NUMBERS

• Licensed since 1996 • Nearly $120 million sold across more than 350 transactions in Portland Metro • 67 Homes Sold at $19 Million in 2013 • 63 Homes Sold at $16 Million in 2012

STATS

RELATIONSHIPS THAT MATTER Our clients love working with us, and 51% of our business comes from is repeat clients and referral.

TOP-DOLLAR IN LESS TIME 3 out of 5 of our listings receive full-price offers in just 1 day.

AREAS OF EXPERTISE • First-Time Buyers • Investment • Multi-Family

• Non-Distressed Homes • For Sale By Owner

Negotiations • Short Sales

• Relocation • Foreclosures • New Construction

Page 5: Buying a Home in Portland

MEET OUR TEAM

Steve Roesch • Real Estate Broker

503.318.6351 • [email protected] • www.pdxhomegroup.com

STEVE ROESCH PRINCIPAL BROKER, OWNER 503.318.6351 [email protected]

CHRISTINA SARIBAY BROKER, LEAD BUYER’S SPECIALIST 503.709.2534 [email protected]

REBECCA NELSON BROKER, RELOCATION SPECIALIST 503.336.6034 [email protected]

TABITHA WALTON TRANSACTION COORDINATOR 503.928.4405 [email protected]

ANDREA ROESCH OFFICE MANAGER 503.213.3550 [email protected]

LAUREN IAQUINTA BROKER, SHOWING ASSISTANT 503.602.9834 [email protected]

DAVE WOODY WASHINGTON BROKER 503.904.0512 [email protected]

ROBERT SEITZINGER MARKETING DIRECTOR 503.567.2035 [email protected]

Page 6: Buying a Home in Portland

CLIENT TESTIMONIALS

Steve Roesch • Real Estate Broker

503.318.6351 • [email protected] • www.pdxhomegroup.com

- Dan & Eileen V.

"As first time home buyers Steve’s expertise in both the market and negotiations helped move us into our dream home. He is very knowledgeable with a lot of neighborhoods in the greater PDX area. Steve was able to give us his expertise when

visiting homes about the neighborhood, potential repairs, even driving routes to work. We highly recommend Steve and as he is very committed to his clients."

“My husband and I were first time home buyers who were all over the place trying to find the perfect place to call our first home. Steve was incredibly patient & knowledgeable and always ready to answer our questions, no matter how ridiculous they were. We’ll definitely be calling on Steve in the future for our real estate needs!”

- Amy R.

“Steve, you exceeded all of my expectations. Your help in finding a buyer for my Sister’s property was smooth and effortless. I will share my wonderful experience with anyone looking to sell in your market!”

- Diana T.

“Steve is a real estate investment guru! The combination of understanding client needs, matched with his knowledge of great investment markets makes him invaluable. He is my "go to guy" for the best investment opportunities.”

- Terry G.

“I purchased a property from Steve and was so impressed with him that I hired him to sell the property too. Steve was very knowledgeable, honest, nice, and timely with communication. I would use him again and recommend him to anyone. Top qualities: Great results, expert, high integrity.”

-Adam H. “I have known Steve for over 6 years and have worked extensively with him on various real estate investment property transactions. His understanding of market fundamentals and valuation are outstanding, and way beyond what you will typically find in so called market savvy realtors. He recently handled the sale of one of my investment properties in Portland, Oregon. Market analysis and value were spot on. The Buyer we contracted with was a very difficult individual as it turned out, and Steve's adroit handling and management of the Buyer, the Buyers Agent and the transaction itself enabled a positive result and timely close.”

- Michael Gruener, CEO Itero Energy, Inc.

Page 7: Buying a Home in Portland

REAL ESTATE IN REVIEW – 2014 FACT SHEET

Steve Roesch • Real Estate Broker

503.318.6351 • [email protected] • www.pdxhomegroup.com

Page 8: Buying a Home in Portland

REAL ESTATE IN REVIEW – 2014 FACT SHEET

Steve Roesch • Real Estate Broker

503.318.6351 • [email protected] • www.pdxhomegroup.com

Page 9: Buying a Home in Portland

Home affordability is at an all-time high. The median mortgage payment on the median priced home as a percentage of the median household income is lower than it’s been in a generation. Mortgage rates are at rock bottom. It’s hard to imagine interest rates going much lower, and when they start to inch back upwards, monthly payments and total loan costs will spike upwards. Home prices are back on the rise. After declining for 30 months, home prices are trending back upward. The time get in to the market is NOW! Sellers are motivated. Home owners have been eagerly awaiting the market to turn, allowing them sell their home for close to what they paid. The current market is finally allowing sellers to achieve their goal of selling their current home and moving on. Financing is readily available! Banks are back in the game and ready to lend to well-qualified buyers. Owning vs. renting is increasingly favorable. Since 2009, the average principal and interest payment has fallen below the average rental rates, and the gap is now wider than it’s been in the past 22 years. Homeownership is still at the core of the American Dream! Owning a home is critical to financial stability and wealth building. It’s a forced savings account, a place to live and a fabulous tax deduction.

WHY NOW IS THE TIME TO BUY

Steve Roesch • Real Estate Broker

503.318.6351 • [email protected] • www.pdxhomegroup.com

Page 10: Buying a Home in Portland

• Determine target price range for new home and amount of down payment • Contact mortgage lenders for pre-loan approval qualification letter • Review and tour available inventory in target neighborhoods • Identify property • Review disclosure package including real property disclosure statement, agency relation disclosure,

financing disclosure and public report and all available property inspection reports • Consider pre-offer inspections • Determine optimal offer price • Strategize all relevant terms for the offer including closing date and inspection periods • Final review of offer as set forth in contact for sale and purchase of real property • Create an offer summary sheet and cover letter to include deal points and buyer bio • Present offer to seller and negotiate terms on buyer’s behalf • Once the offer is accepted and the purchase contract is fully ratified, PDX home group will open escrow • Both buyer and seller to satisfy applicable contingencies and conditions as set forth in purchase contract • Review title report and all inspection reports prepared during the course of escrow • Buyer to obtain property insurance prior to close of escrow • Buyer to review and approve the estimated closing statement provided by title company • Signing, closing and recording • Broker’s fees are paid by the seller

BUYER PLAN OF ACTION

Steve Roesch • Real Estate Broker

503.318.6351 • [email protected] • www.pdxhomegroup.com

Page 11: Buying a Home in Portland

• Structure • Roofing • Plumbing • Electrical Systems • Home Heating

• Insulation • Air Conditioning System • Interior and Exterior Condition • Ventilation • Fireplace(s)

HOME INSPECTION PROCESS

Steve Roesch • Real Estate Broker

503.318.6351 • [email protected] • www.pdxhomegroup.com

WHAT TO EXPECT DURING HOME INSPECTION

NAR & ASHI HOME INSPECTION SURVEY HIGHLIGHTS

In 1976, the American Society of Home Inspectors (ASHI) standardized the home inspection process and established Standards of Practice dictating what must be inspected as well as how far the professional home inspector needs to go to report their findings.

• 77% of buyers have inspections • 81% had a contingency placed in the contract for the inspection. • 79% attended and participated in the home inspection. • 97% believe that the home inspection was a good value for the price they paid. • More than half (54%) of home buyers had knowledge of the inspector being a member of a

professional home inspector organization. Of those aware of their inspectors’ professional affiliations, the most frequently (18%) cited organization was ASHI

CRITICAL INSPECTION AREAS

Page 12: Buying a Home in Portland

Once you have found the property you want, we will write a purchase agreement. While much of the agreement is standard, there are areas of negotiation.

NEGOTIATING AN OFFER

Steve Roesch • Real Estate Broker

503.318.6351 • [email protected] • www.pdxhomegroup.com

PRICE

MOVE-IN DATE

ADDITIONAL PROPERTY

NEXT STEPS

What you offer on a property depends on a number of factors, including its condition, length of time on the market, buyer activity, and the urgency of the seller. While some buyers want to make a very low offer, just to see if the seller will accept, it’s not always recommended as the seller may be insulted and decide not to negotiate at all.

If you can be flexible on the possession date, the seller will be more apt to choose your offer over competing offers.

A seller may want to leave major appliances in the home. There may also be furniture left behind. Each of these may be considered additional property, and our goal is to negotiate a deal that makes your purchase experience as seamless as possible.

Typically you will not be present at the offer presentation; we will present it to the listing agent and/or seller. The seller will then either accept, reject or counter your offer. Counter offers are very common. When a counter offer is presented, our team works with our clients to review each specific area of the counter offer. We will move forward with your goals in mind and ensure that we negotiate the best possible price and terms on your behalf.

Page 13: Buying a Home in Portland

GETTING READY FOR CLOSING DAY

Steve Roesch • Real Estate Broker

503.318.6351 • [email protected] • www.pdxhomegroup.com

CLOSING DAY DOCUMENTS MAKE IT OFFICIAL

PREPARATION IS ESSENTIAL Closing day marks the end of your home buying process and the beginning of your new life! To make sure your closing goes smoothly, you should bring the following:

• A certified check for closing costs and down payment. Make the check payable to yourself;

you will then endorse it to the title company at closing • An insurance binder and paid receipt • Photo ID’s • Social security numbers • Addresses for the past 10 years

Transfer of title moves ownership of the property from the seller to you, and this requires two events:

Delivery of the buyer's funds This is the check or wire funds provided by your lender in the amount of the loan

Delivery of the deed A deed is the document that transfers ownership of real estate, naming the seller and buyer, offering a legal property description and bearing notarized seller and witness signatures.

Following the closing, your deed is taken and recorded at the county clerk’s office, where it gets formally processed and then mailed to you, the new owner.

Page 14: Buying a Home in Portland

Steve Roesch • Real Estate Broker

503.318.6351 • [email protected] • www.pdxhomegroup.com

PREFERRED PROVIDERS

Ken Newell 503-869-4417

[email protected] http://www.keyhomeonline.com/

HOME WARRANTY

800-800-8800 [email protected] www.ahswarranty.com

INSPECTION SERVICES

503-650-6957 [email protected]

http://www.crawfrdinspections.com

Crawford Inspection

Services

Fitzpatrick Home Inspectors Brendan Fitzpatrick 503-750-0795 [email protected]

GeoPotential

503-622-0154 [email protected] http://www.geopotential.biz/

INSURANCE

Chris Arends 503-665-4149

http://www.farmersagent.com/carends

LENDERS

Tom Hestmark 503-517-2417 [email protected] http://thestmark.mtgxps.com/loan-officer/tom-hestmark/

Brenen Palmersheim 503-539-0805

[email protected] https://www.homestreet.com/person/

brenen-palmersheim

LANDSCAPERS

503-740-7733 http://www.northwestoutdoorliving.com/

Page 15: Buying a Home in Portland

DISCOVER PORTLAND! Visit our website to find a comprehensive list of Portland facts, resources, attractions, and more

Steve Roesch • Real Estate Broker

503.318.6351 • [email protected] • www.pdxhomegroup.com


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