Talk to Us

3121 SE Division St. Portland, OR 97202

503-762-7958 info@inhabitre.com

Contact UsMapDirectory

Category: Advice to Sellers

Portland Zoning Changes

Posted on by Alison Derse

WHAT YOU NEED TO KNOW (AND PROBABLY A BIT MORE)

The joy of understanding zoning. The joy of understanding zoning.

Depending on whether or not you’ve received snail mail concerning zoning changes, and depending on whether or not you read the fine print, your Portland home may undergo a change of zoning next year. This leads to a lot of questions and one very important piece of advice:

  1. Why is the zoning changing?
  2. When does the new zoning take effect and who does it impact?
  3. Where can I go for more information?
  4. Can I stop the change or change my current zoning?
  5. How does zoning work?
  6. What does this mean for home buyers and sellers?
  7. Most Important Advice Ever

1. Why is the zoning changing?
For the past ~8 years the Bureau of Planning and Sustainability (BPS) has been working on a new Comprehensive Plan for the City of Portland. This is a long range (20 year) planning tool that sets the framework for physical development in the city. Most of the legislative work is done but there are always additional projects in the works that you can comment on and provide testimony for (such as Central City 2035).

2. When does the new zoning take effect and who does it impact?
Approximately 24,000 homes will be affected by the zoning changes (including yours truly!). These changes are going to be effective on January 1st, 2018. However, there is the possibility that it could go into effect later than this date depending on the state acknowledgement process.

3. Where can I go for more information?
To find out whether or not any particular home will undergo a zoning change, you can visit this website. To find out what your current zoning is, visit this website and enter your address. Feel free to contact me for help and any questions you might have.

4. Can I stop the change or change my current zoning?
There’s no way that I know of to stop the zoning change if you are part of this particular update because it was adopted by the City Council in December of 2016. However, zoning changes all the time and there are a lot of factors to consider if you think your property should be zoned differently.

While your current zoning may not allow for the development that you want, your property may be part of future zoning changes (comp plan). If so, you may be able to go through a quasi-judicial process to apply for a zoning change which will have a good chance of success. Otherwise, you can apply for a change of zoning but there is absolutely no guarantee of success. Either of these processes carries a high cost and should be carefully considered. Input from professionals is crucial.

5. How does zoning work? (high level overview)
Your base zone may be something like R2.5 or R5. R means residential and the number corresponds to the number of units that can exist per thousand square feet (2.5 = 1 unit per 2500 square feet). Except when it doesn’t… don’t ask. It can be more complicated than this based on other rules, such as location (for instance a corner lot may allow for more density) and overlay zones (such as design overlay zones that require certain design elements). Specific overlay zones, plan districts, and other regulations will all impact the development potential for your property.

Zoning is (unnecessarily?) complicated so don’t expect to understand everything just from knowing what the code is for your zone. You can consult your realtor for help to better understand your situation.

This is a zone map of a little piece of Portland. You definitely do not need to understand what all this means. This is a zone map of a little piece of Portland. You definitely do not need to understand what all this means.

6. What does this mean for home buyers and sellers?
For buyers and sellers, zone changes can certainly impact the highest and best use for your property. A change from R1 to R5, R10 to R20, etc. may mean that a property no longer has the development potential it once had. Or the property may be changing to allow for higher density development. For a seller, knowing and understanding the current and planned zoning is crucial.

For buyers, understanding the zoning of both the home that you are interested in, as well as all the neighbors, can make a huge difference in whether or not it makes sense to buy the property. For instance, the home you are wanting to buy might be zoned for lower density residential but the corner lot next to it may be zoned for higher density development. Even if that corner lot only has a single level house on it now, it could be developed into a 3-story complex in the future!

Most Important Advice Ever (well, maybe not ever but it’s still good advice)
There’s a lot more to selling and buying homes than listing on the MLS or placing an offer. Find a real estate agent with the knowledge, smarts, and time that will do the work for you to maximize your dollars! (Along those lines, feel free to contact me anytime.)

– Brandi Whitaker

It’s Time to Elevate Your Life!

Posted on by Marika Feibel

My name is Marika Feibel and I’m a Broker with Inhabit Real Estate. I have developed a niche in the housing market for those who want to purchase a property with the intention of investing. Whether you are a first time home buyer, purchasing an investment property, or buying a vacation home, I can help you create a real estate portfolio that will engender revenue for years to come. My mission is to help clients achieve financial freedom through real estate while providing top-notch customer service. Real Estate is a fun, exciting adventure and I want you to feel comfortable every step of the way. Let me tell you a little more about this process.

What to expect as a seller:

Selling your home is all about timing and strategy. Elevate, a comprehensive plan I’ve created, uses proven systems for selling your home and getting the right price. Timing the sale of your home is super important. From our first meeting to signing the sales contract, it is critical that everything is done on the right timeline. 

Step One: Preparing Your Home  

I’ll visit you in your home so that we can discuss what’s necessary to get your home ready for market. This list could include: new interior paint, new carpet, fixing a leaky kitchen faucet, weekly yard maintenance while your home is on the market, etc. In getting your home ready to sell, the focus is on curb appeal and tidiness inside and out. These two things will peak potential buyer interest, getting them to your front door, and will allow them to imagine their belongings and their lives in your home. 

Step Two: Marketing

We’ll discuss Elevate’s sales and marketing plan for your home, as well as all the steps that I’ll take to get the listing date. 

Another important element is flexibility for showings. We’ll discuss your schedule to come up with the best strategy, allowing agents to bring potential buyers to your home with two hours notice. 

Step Three: Pricing

Pricing your home is very important. I’ll take time to look at your neighborhood recent home sales. Also, I’ll look online and go to a few of the homes in your neighborhood that are currently on the market to scope out your competition. 

Portland and the surrounding areas currently have a low inventory of homes, which means that if your home is priced spot on, you could create an influx of buyers. There are many buyers watching and waiting for their dream home to be listed. 

Step Four: Final Details

Once in contract, I offer an exceptional ability to close the deal. My experience and tenacity will shine through, which can mean the difference between having a transaction fall out of contract and closing the deal. 

Testify!  

“I have had the pleasure to work with Marika on both the sale and purchase of a home. I fully credit her diligent marketing skills, knowledge of industry trends, and the strategy during negotiation for the successful sale of my home. Marika has wonderful intuitive skills and worked tirelessly with me to find and purchase the property I envisioned as my next home. In addition, she continues to be a great resource and eagerly responds to my requests to view potential investment properties. I enthusiastically refer her out to others, and look forward to working with her again on future real estate transactions.”

-Rebecca Ostrom, Lake Oswego

“Marika is one of the most personal and attentive real estate agents in Portland. Not only is she a lifelong Oregonian, but her knowledge of the area, her understanding of the market and its inventory and real estate values positions her as one of the best. From  day one she was always representing our interests – whether it was a little thing in a home we were interested in that we might have overlooked, to keen insights on how to position our home for sale. Her ability to read the overall market contributes to her impressive fluency as a listing or buying agent. Overall, Marika is someone who excelled at her  job as being a steward and helping people through a very important journey without compromising the necessary  logic and analytical skills necessary to craft a winning offer.”

– Ruby gates, SE, tabor area

Successful Staging Story

Posted on by Alison Derse

Let’s go back to the summer of 2015 where I was hosting an open house in North Plains. Doing what I always do at my opens, I treat each potential buyer that walks into the open house as my personal guest, as though I’m having a party. It was busy with multiple buyers arriving at the same time. Not only was the cute farmhouse for sale but the property included acreage and a barn. I felt like a chicken with its head cut off running here and there tending to my guests (buyers) needs.

Six months rolled around and some buyers that I had met at the open house contacted me. They did not end up with the cute farmhouse in North Plains but opted for another house in Hillsboro that they found without me. But they wanted me to list their townhouse in Hillsboro! I felt honored that they remembered enough about me from my open house in North Plains to want me to help them sell their home.

As I arrived for the listing appointment, their place was in chaos because they were in the process of moving out. Immediately, I thought that a vacant listing needs staging! As we finalized our paperwork I discussed the need for staging. The wife was ready to move forward but the husband was resistant. He asked me to provide him with data on how staging might help sell his place. Not only did he not want staging, he also wanted the list price to be higher than my recommendation.

After much discussion, I convinced the sellers to have a complimentary staging consultation done. We were able to work out a reasonable staging fee with OnStage and the husband agreed to move forward with staging.

Moral of the story, we ended up with multiple offers in which the seller was able to get the price he wanted. And to show how important the staging was in selling the townhouse… the buyer ended up buying pieces for the upstairs loft because the furniture fit there so perfectly!

Sometimes it is hard to visualize how furniture will fit in a space. Whether staging with your own furniture or through a staging company, consider having it done. It is all about the first impression when buyers view your photos. If you can capture their attention the first time, they will likely want to view the home in person instead of moving onto the next listing on the internet.

I love working with my listing clients to get ready for the big day – the photo shoot. Each of my listings have been unique in how they have been staged. Sometimes my clients have great furniture pieces and we just add to those pieces to create an updated touch. When the home is vacant, I let the staging company work their magic by bringing in their own pieces.

– Linda Nyman

The staged townhome The staged townhome This was the piece that the buyer ended up purchasing because it fit so well in the upstairs loft space! This was the piece that the buyer ended up purchasing because it fit so well in the upstairs loft space!

“We met Linda a few years ago at an open house and were very impressed.
When it came time to sell our house recently, we enlisted her help. She guided us through the entire process, including helping us get the house ready, and negotiated a great sale price for us in a multiple offer situation. I wish we had enlisted her aid when buying our new house instead of searching by ourselves!”

— Linda’s Clients

Navigating the Simultaneous sell-buy/buy-sell

Posted on by Eric Hagstette

Challenge: You want/need to “move up” but you need to sell your current home in order to buy (because you either need the equity for down payment, or your debt ratios are too tight to be approved for an additional mortgage).

Many of our clients are in this boat, and the current competitive market makes this pickle especially challenging. Right now it is difficult to compete in the buying process with a contingent offer. (In this case the contingency would be that your home must sell before you can close on the new purchase)

There are a few solutions or options for home owners in this predicament. None are perfect; however, with a great Realtor, the goal can be accomplished.

Option 1: Prepare, list and sell your existing home. You would then obtain a short term rental or interim housing while you look for your new home to buy. This requires 2 moves, but puts you in a much better buying position with liquid down payment, your purchase not being contingent on the sale of of your house, potentially more flexible closing period, and no need to request a rentback period.

*We realize many people don’t want to move twice, so here are a few other options.

Option 2: List your home at fair market value, or slightly below. You will likely obtain more than one offer, be more in control the closing terms, and negotiate a longer closing period which would allow you time to shop for a replacement house. The sale would be “subject to finding a suitable replacement property” within a certain period of time. You can then write an offer “subject to the closing” (rather than the sale) of your existing home already in pending status.

Ideally in this situation you’d be through the inspection and appraisal contingency on the sale of your home when you write the offer to purchase your new home, while still contingent on closing. This is perceived as a stronger position, with no predictable obstacles in the way. The close of escrow of both the sale and purchase would be scheduled simultaneously.

Option 3: You prepare your property for sale, find a replacement home, and write an offer contingent on the sale and closing of your current home. If the offer gets accepted, the status of the sale agreement becomes “bumpable” meaning that the contingent offer can be bumped by another buyer under certain terms and conditions prior to closing.

Option 4: There’s got to be a rich Aunt or Uncle out there somewhere that will give you some “bridge” financing, right??

News & Events – Prices and rates expected to rise in ’14

Posted on by Eric Hagstette

Rare, Double-Whammy

There’s a lot of excitement in the air in anticipation of a very strong 2014 nationally and locally. Check out this Portland Business Journal article ranking Portland in the top 10 of the countries hottest markets next year. Fasten your seatbelts and get ready. Prices up and rates too….this will be interesting.

If you’ve been on the fence to buy or sell, now may be the time.

For Sellers – Don’t take rejection personally

Posted on by staff

When you are ready to sell your home it becomes a product in a marketing campaign. This means buyers are going to come in with a critical eye and pass judgment on the property. It’s important not to take this personally: everyone has different styles and tastes, and people want what they want. As you get physically ready to sell your house, it’s very important that you also get prepared emotionally: the more you can detach from your property, the easier and more enjoyable the process will be.

For Sellers – Make yourself scarce

Posted on by staff

For best results, we want maximum exposure for your property from the start. The seller has the control of the negotiations in the beginning but, as time goes on, the buyer then gains control of negotiations. Therefore, make showing the house easy: relocate your pets and make yourself scarce. The more time I have to show the house in the beginning, the more likely we are to find a buyer quickly.

For Sellers – Store away your valuables

Posted on by staff

There is so much involved in staging, I can’t really cover it here. Just know that at the outset I will give you customized guidance in staging your home: curb appeal, de-personalizing, de-cluttering, repairing and so on. One of the key aspects of staging that can sometimes be overlooked is that it’s important to store your valuables, especially those things that people can easily stick in their pocket. This includes storing your private mail, financial statements, important papers – anything that might give clues your financial position. Also, put away any pharmaceuticals or personal items that might raise questions in the buyers’ minds or give away something about your situation. The idea is to put all the focus on the house itself so that people can imagine themselves in it.

For Sellers – Have a pre-inspection & be proactive

Posted on by staff

Anticipating maintenance issues in your home and being proactive with repairs will make the selling process much smoother. Some sellers bury their head in the sand and avoid fixing things until they come up in inspections. However, this can backfire: the buyer can have second thoughts when these surprises arise. Get a pre-inspection and fix what needs to be fixed.

For Sellers – Trust the Marketing Plan

Posted on by staff

When you are ready to sell your home, it becomes a product in a marketing campaign. It’s important to work with people that understand how to differentiate your property from the competition. Different properties warrant different marketing strategies: is the home vacant, is it distressed, is it multi-family? Is it located on a quiet street, near a grammar school, near a shopping district? Based on the property and your goals, we’ll design a strategic marketing plan with a 4-point approach: public communication, agent networking, online communication, and home “product” presentation. It’s important that you trust the marketing process. If you second guess it and let concerns and worries get the best of you, the process will become stressful. Trust our years of experience: we will sell your house.

For Sellers – Set Goals

Posted on by staff

When we meet, we will help you get very clear on the goals for the sale of your house. For example, why are you selling right now? How soon do you want to be out of the house? Do you need to be in the house for the next two months or is the house already vacant? Are you selling to buy? Is buying contingent on the sale of your house? We have the patience and experience to support you through whatever your circumstances and goals are. Once we have a clear picture of your goals, we will work together to achieve them.