April Home Maintenance Tips

By Assurance Home Inspections

Tip #1
Replace or clean your furnace filter, true the heating season is almost over, but your furnace will be running off and on for the next 2 months:

You can easily spend an extra $20 up to $50 a month on your heating bills by continuing to use a dirty filter.If you are using a disposable filter we recommend using ones with the cottony media. You get what you pay for with the cheap “30-day filters”  The cottony media will filter out much finer dust particals, keeping your air and your furnace cleaner.

Tip # 2
Tune up your yard equipment:
Even though it is still wet and rainy your lawn is likely looking a bit shaggy and is ready to be mowed. Your lawn mower has been sitting for the last few months unused and might not be ready to simply jump back into action.  A tune up for your lawn mower is just as important for it to run properly as a tune up for your car.

• If you have a gas mower, the gas left in the tank may have gone stale and will not fire properly or can foul the spark plug.
• Oil. Your lawn mower has to deal with a lot of dust and dirt as part of it’s job. Some of that dust and dirt can get into the oil, turning it to sludge or fouling the oil. Consider having the fluids drained and re-filled with fresh fluids to start the season out running smooth.
• Likely you did not re-sharpen the blade of the lawn mower before you put it away. A dull blade will still cut the lawn, but it frays and splits the ends of the blades of grass, rather than a clean cut. This can brown the ends of the grass blades making the lawn not appear as green as it should.

Spring is in the air, literally, get out and enjoy! (take your Zertec if you need first )

~Kori

RMLS Market Action – March 2010

As a Realtor, I get the question daily – so, how’s the market?  Even from other agents.  The market is the market – good or bad – remember, if  it’s a ”seller’s market” it’s not good for buyer’s and vice versa – the market is the market.  That being said, we had an exceptional March 2010!  I do believe it’s been driven by the federal tax credit; however, I’m working with a number of clients (both first time buyers and current home owners that qualify) that have said, the credit is motivating but they are moving forward with or without the credit.

Proof is in the numbers!  Closed transactions were up 51.9% in March 2010 over March 2009, pending sales were up 46.7% and new listings increased 35.3% year-over-year.  Month over month the numbers were up dramatically – March 2010 over February 2010 saw a 77.2% increase in closed sales, 29.8% increase in pending transactions and a 27.8% increase in new listings.  Even with listings being up we saw inventory levels decrease substantially from 12.9 months to 7.8 months.  Remember, six months of inventory is considered a “balanced” market.

Here’s some news… home values were also up month-over-month by 2.6%!  We are embarking upon a healthier market.  We do not want to see the increases in home values that we saw in the early to mid-2000’s.  The artificial inflation was not a ”good thing”, even for sellers at the time because remember, they probably turned around and purchased a new home at that artificially inflated price. 

Values are going up slowly, perfect.  Rates are still great but rising a bit.  The stock market is showing improvements.  Yes, Oregon still has an above average unemployment rate but we were the last into this recession and we will be the last out – the benefit, the impact on our economy was minimal when compared with other cities and states across the country.

So, how’s the market?  The market is the market but it’s looking great as we see the pendulum swing back to a more balanced market simply in favor of home ownership.

~Kori

Signs of Real Estate LIFE?

This past week, the headline article in the Portland Tribune was “Signs of Real Estate LIFE?  Builders, Realtors look for signals that home sales are bouncing back“, so what was the consensus?  It sounds like a broken record but it’s still a great time to buy and that’s not just me, that’s the first line of the article.

As a Realtor, I struggle everyday with the question – is the market getting better?  Well, that depends.  Are you looking at a downtown condo hoping it’s a good investment or are you looking at a free-standing house in one of Portland’s close-in neighborhoods?  Even then, the answer is still, it depends. 

I was out on the river last night with my fellow dragon boaters as we cruised past the South Waterfront – you’d think we were looking at some abused caged animal… ah, it’s too bad, can believe all those beautiful condos have been foreclosed upon and were auctioned off for practically nothing?  First of all, it was 50 units within the John Ross which has a total of 303 units.  Yes, the South Waterfront is a “distressed” area but I personally believe it’s a result of the overall economy, eventually, this will be a happenin’ area – it was just a little premature for the Portland Market.  Similar to beach front property, there is only so much river front property so eventually, this area will take off as it was intended. 

Similarly, other close-in neighborhoods have not felt the hit that the outlining areas have suffered.  Yes, values are soft when compared to 2005-2007 but we all knew, that bubble was going to burst because prices were rapidly becoming falsely inflated.  If a neighbor sold their house a month prior for $300,000, the new listings were coming on at $325,000 and also selling in days.  We are still seeing a market where properties are on the market for literally days – it’s happening all over the city. 

So, if you ask me if the market is getting better, I’d say, it depends.  What area of town?  What are your short and long-term goals in-regard to the home?  A home is still a great investment!  It’s one of the few remaining tax deductions other than children for the majority of Americans who are not self-employed (and trust me, the deductions for the self-employed are dwindling as well).  Interest rates are still fantastic – remember, when the market was booming we were at 6% – 7% and in the 1980’s we saw interest rates in the double digits!

Regardless of the tax credit, it is still a great time to buy – the credit was a wonderful motivator but the market is not going to come to a stretching halt on May 1st – remember, there were criteria that limited the credits to a particular segment of the population, not everyone who purchased a home this past year is collecting tax credit.

~Kori

12th Annual Kitchen Revival Tour Tomorrow

Saturday, April 10th from 10 – 4
General Public: $25
AHC Members: $20

One of the Architectural Heritage Center’s most popular events is back for a 12th year!  Don’t miss out, as this year promises to be a “Tour de Force,” complete with eight historically accurate renovations and kitchens that retain most of their original character. If you’re planning a kitchen project or just love to see inside vintage homes, this is the program for you. Come learn how kitchens have evolved from utilitarian workspaces to the center of family living. You will see first hand that kitchens can be kept intact or appropriately renovated to meet the demands of modern lifestyles. This year the tour showcases creative solutions in a variety of price ranges and in houses that run the gamut from early 20th Century to Mid-Century Modern. Homeowners will be on hand to share their experiences and lend advice. Whether it’s the preservation of an original gem, a do-it-yourself restoration, or a renovation completed under the guidance of a local contractor, the Kitchen Revival Tour promises to be both educational and entertaining.

Click image to enlarge map

Have a great weekend!

~Kori