Record Shattered!

When I first visited my clients’ home at 2217 NE Ainsworth I knew it was a special home. Adorable from the inside and even better on the inside, with a well-appointed floor plan, lots of light, original details mixed with modern updates and an awesome yard with a grassy area, a wood deck and a jacuzzi. Add to that a fantastic location right across the street from Alberta Park and I had a feeling this one would strike an emotional chord with buyers.

After my clients had moved out my wife Nicole and I got busy with staging the home and getting it ready for market. We watered and mowed the lawn, trimmed the bushes, and cleaned.

After lots of work the home was ready to come on the market. The weather forecast promised sunshine on the weekend we were to come on the market so we geared our marketing campaign towards doing some killer open houses.

The open houses were advertised in print, social media, online, through email and personal invitations, and since NE Ainsworth is a fairly large street, we even had custom open house riders added to the sign.

On the day of our first open house we were ready! Our daughters welcomed guests with some organic lemonade and property brochures. I was inside the home, offering catered food and giving a tour, and Nicole was in the rear yard answering questions.

The end result was even better than expected. We received 8 offers and closed escrow $54,700 over our asking price – shattering the record for a 2 bedroom, 1 bedroom, <1,500 sq. ft. home north of Jarrett Street!

Clearly, who you work with matters.

Calle Holmgren

From Open House to Ownership

I was holding open a townhouse at Orenco Station, located in Hillsboro OR, when an awesome gentleman walked-in and fell in love with the house. He happened to be riding his bike around the neighborhood at the time and had not put any thought into purchasing a home. Because he was a first-time homebuyer, I took the time to explain all the steps in the purchase process.

He walked away not knowing for sure if he was serious about buying or not. After thinking about it over the weekend, he called me on Monday and said that he was ready to make an offer! He had not been pre-approved yet so I referred him to my preferred lender, Carol Flanagan. She was able to send him a pre-approval letter in less than 2 hours.

When we originally submitted an offer there was a stronger one already on the table. After talking back and forth with Brian we were able to adjust the offer and resubmit which resulted in an acceptance. We then went through the normal steps of the home buying process. For instance, some repairs were needed, but for the most part everyone helped to make it a smooth transaction.

I’m so happy that I got to meet Brian’s super cute cat Sophie! She loves playing with receipts; he warned me before I walked inside his house about having receipts all over the floor.

Congratulation to my new friend Brian on this big, successful purchase!

Mattin Noblia

From Holland to FoPo!

More times than not a relationship with a buyer follows the same basic outline:

  1. Home buyer gets referred to you by a previous client
  2. Met said buyer and do a Buyer Consultation to wants & needs, timelines, budgets and to explain steps involved in purchasing a home
  3. Get buyer pre-approved by lender
  4. Go home touring
  5. Make offer
  6. Home sold

Every once in awhile, however, some of these steps get eliminated, and such was the case with Christiaan and Rian. Christiaan called me out of the blue and wanted me to meet him at a home in Foster-Powell that had just come on the market. I cleared my schedule and went out to meet him. I am glad I did because Christiaan fell in love with the home. We called his fantastic mother, Rian, in Holland and agreed to make an all cash offer.

After some back-and-forth with the sellers we got our offer accepted. The inspection revealed some issues and we went back to the negotiation table with the sellers and ultimately came to a happy conclusion.

Less than a month from when I first heard from Christiaan and Rian for the first time we closed on the house and Rian and Christian are the proud, new owners of their first home in the US.

Calle Holmgren

2015 NW Flanders St #505

#505 This exceptional penthouse boasts a highly sought-after east-facing perimeter location. An abundance of natural light comes in through the newer wood windows of the large living room and there are views of the Portland skyline and the Fremont Bridge.

Beautiful French doors lead to the kitchen, which features countertops with white hex tile with black accents and cabinets with chrome pulls. The dining area is adjacent to the kitchen and features a built-in bench with added storage. This area is a perfect place to cozy up with a book and cup of tea and even has views of Mt Hood on a clear day.

The bedroom is grand and the bathroom is conveniently accessed from both the bedroom and the living room. Finishes include hardwood floors, beautiful doorway and window moldings and terrazzo floors.

Building amenities include an elevator, a fitness center, a laundry room with free access to washing machines and dryers, a private landscaped interior courtyard and a bike room with storage lockers. This particular unit also comes with a deeded off-street parking spot located right outside the building.

Embassy | The building has been called by many the “crown jewel of the Alphabet District”. Impossible to duplicate, The Embassy building stands today as it did when first built in 1923 as one of the truly elegant and most desirable addresses in Portland. Reminiscent of upper Eastside residences in Manhattan and designed by noted architect Carl L. Linde, it is one of the few examples of early 20th century Georgian style architecture remaining in Portland.

Its impressive brick and sandstone exterior, the stunning lobby, the generous proportions of its rooms, the detailed woodworking and its private interior courtyard place it amongst the very best of its kind ever constructed in the City of Roses. A preserved treasure, The Embassy is listed as a contributing structure within the National Register of Historic Places.

Located in the heart of the Historic Alphabet District with a walk score of 99, this location offers easy access to public transportation including MAX, dining at award winning restaurants, and easy walking distance to a number of fine grocery stores, bars, cafes and boutiques. Nearby attractions include Couch Park, Washington Park, The Japanese Gardens, Providence Park, The Rose Gardens, NW 23rd Ave and Forest Park trails.

Calle Holmgren

2217 NE Ainsworth

It’s hard to talk about 2217 NE Ainsworth without resorting to certain clichés. It is the type of home that inspires froofy descriptions like “dreamy”, “cozy”, “cute” and “Portlandesque”. While those are accurate, they are not enough to describe this fantastic home. It is quirky and functional, romantic and well appointed, charming and practical.

The dining room effortlessly flows into the refreshed kitchen, which has been upgraded with stainless steel appliances, white subway tile backsplash and a large walk-in pantry.

One bedroom offers French door access to the rear yard and the second bedroom has a vaulted ceiling and a closet with custom organizers. The updated bathroom boasts beautiful hex tile floors, pedestal sink, new shower fixtures and subway tiled walls.

The lower level features a large family room/bonus room with built-in storage, wood-paneled ceilings & recessed lighting and also has a separate utility area/laundry room with washer & dryer included.

The private backyard is the perfect place to entertain with its hot tub, raised garden beds and a recently added wooden deck perfect for barbecuing and summer al fresco dining.

Parking is easy in the long driveway or in the detached garage that can be accessed either through the automatic roll-up door in the front or through the sliding barn door on the side, making it a perfect contender for an ADU, artist’s studio or a She Shed.

Alberta Park is across the street and offers basketball & tennis courts, dog off-leash area, playground, soccer field, softball field and picnic tables.

With close proximity to New Seasons Market and all the fine dining, shops, bars, cafes & entertainment on Alberta Street and Killingsworth, this location is hard to beat. Enjoy a movie and dinner at McMenamins Kennedy School and free neighborhood access to their soaking pool. Walk down to P’s & Q’s Market for a locally farmed weekend brunch. Watch a show at Alberta Rose Venue and stop at Expatriate on your way home for arguably the best cocktail in town. Or why not spend an evening sitting in the hot tub with a glass of wine while the rain showers you? You can only call that “dreamy”.

Calle Holmgren

Victor & Barbara – Happily Ever After!

While moving is usually stressful, it is on a completely different level when you are 80+ years of age and downsizing after a decade of living and loving in a beautiful Mt Tabor home. Sorting through a lifetime of stuff; deciding what should stay and what should go. Plus all the standard logistics of the actual move. This is where we do our best to help guide our clients through the process.

The homeowners, Barbara and Victor, interviewed several agents. I was very happy they chose me to represent them in this important transaction. Once hired, Nicole and I immediately went to work! We prepared a schedule to help guide Barbara and Victor through all the many steps involved in this life change: sorting, packing, garage sales, house cleaning, staging, photo shoot, printing of marketing material, activation and open houses. Barbara & Victor, with the help of their fantastic children, worked very hard and diligently followed the schedule. The house was ready for Nicole and I to stage on the day we had agreed to.

Our goal was to keep the furniture light and airy with no big, heavy pieces. I think we achieved just that.

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After a successful online marketing campaign, both online and print, that included catered open houses and broker previews, we ended up with three solid offers after only one week. Barbara, Victor and their three children selected the offer they felt most comfortable with, and the home was sold!

Now it is 4 weeks later and we are closing after a very smooth transaction with no hiccups and with a repair negotiation that left both parties satisfied.

Sometimes real estate is about just that – real estate. More times than not, however, it is about people and relationships, and this was one of those cases. Nicole and I are so glad to have been selected to work with Barbara, Victor and their children. We are honored to have played a role in this life event and wish Barbara and Victor much happiness in this new chapter of life.

Calle Holmgren

Welcome to the Williams District, Ross!

When my good friend Ross contacted me and said he wanted to buy a house I could not be more excited. Ross had been renting in the Hawthorne District since moving to Portland but was now ready to become a homeowner.

After meeting with Ross to discuss his wants and needs I realized he knew exactly what type of house he wanted, where he wanted to be, and what he wanted to do with the home. Moreover, Ross thoroughly understood real estate and the market, and knew what it would take to get an offer accepted in this fierce market. In other words, my only job would be to find him the home he wanted.

It turned out that Ross knew how to find homes too… One day I received a text message from him saying he found The House and wanted to make an offer. Finally, it was my turn to go to work!

After successfully beating out several other buyers our offer was accepted by the seller. We quickly had our inspections done and found out that there were some issues with the home. I got several contractors out to provide repair estimates and we used those bids to re-negotiate the price down to a number that made both Ross and the seller happy. After just a few weeks we closed and Ross got to move in.

Ross – thank you for letting me represent you and for being the easiest client I have ever worked with!

Calle Holmgren

Barbara Moves to Bend

A while back, when Barbara turned 80, she decided that Portland was not the city for her anymore and that she wanted to move to Bend. She called me to get an idea of what her home was worth, what she would need to do to it to maximize the sales price, and to get an idea of how long it would take to sell it.

After having consulted with her financial advisor, Barbara drove out to Bend, purchased a home, and then called me back and told me she was ready. I immediately got a painter in there to paint some walls and do some miscellaneous touchups, and also had a stager move some furniture around.

After less than 48 hours on the market we had generated multiple offers and leveraged those to get an all cash offer up to $20,000 over the asking price – a record setting price for an attached home in Mt Tabor. The transaction went very smoothly and we closed less than a month after putting the home on the market. Barbara is now perfectly settled in in her new home in Bend and could not be happier, and neither could I. Thank you for giving me the opportunity to represent you, Barbara, and best of luck in your future endeavors!

Calle Holmgren

Jamie & Lianna find their Hawthorne Home

After having looked for their first home all over SE Portland, including Brooklyn, Sunnyside, Richmond & Ladd’s Addition, newly weds Jamie & Lianna finally found their dream home. Located right off SE Hawthorne, with walking distance to numerous restaurants, coffee places, bars and shops, the 1918 foursquare was everything they had hoped for. A flowing floor plan, original details but with modern upgrades, large driveway + garage, a yard for entertaining, an inviting front porch, and so much more.

Congratulations Jamie & Lianna – I am so happy for you!

Calle Holmgren

A Home for Little Tomato & His Owners

Kim and Rojer reached out to me a little while back. They needed help finding a new home for themselves as the apartment they were renting in SE Division St. had become too small for their dog Little Tomato.

After looking at homes all over Southeast Portland without finding “the one” we switched directions and started looking in St. Johns. As soon as we did, Kim & Rojer knew this is where they wanted to be. After some house hunting we found an incredibly beautiful property close to Pier Park that was all they had ever wanted. We wrote an offer and got it accepted among multiple offers! 30 days later, Kim & Rojer got the keys to their new home and could not be happier. As for Little Tomato, he is loving his new home and the yard where he can run wild!

Calle Holmgren

The Richmond Commons – A successful project from concept to sold out

Eric recently worked with one of his developer clients from beginning to end on the Richmond Commons Condominium project. The project was a huge success for his client, the new owners and for Inhabit. The 12 homes sold quickly and are all now closed. A happy community has formed on an abandoned, under-utilized corner of SE Portland.

In a quick Q & A session, Eric explains the Richmond Commons development from land acquisition, pre-construction, marketing, all the way through to being SOLD OUT.

How did Richmond Commons come about? Where did this project begin and what was your involvement?

One of the services I provide to my developers and builders is land acquisition. I constantly keep an eye out for sites that my developer community can acquire and develop with the least amount of risk and exposure and the greatest outcome. This property hit the market and had the size, zoning, and location for very favorable development potential. The price and potential of the land that would become Richmond Commons was a “no brainer”. We secured the property under contract and began due diligence for the site’s “highest and best” use.

How did you help your developer client decide what to build on the site? What information do you provide?

I help my developers and builders understand the market’s appetite for various types of real estate (houses, townhouses, condos, mixed-use, apartments, etc)…in other words… what will create the greatest buyer demand on the back end. We narrowed this site down to build attached townhomes or condominiums. From there, I created pricing strategies (what can we sell the unit for), absorption studies (how quickly the units will sell), lending solutions (for the take out financing) market demand (what features does the market want) and a marketing game plan to introduce the development to the market and create buzz, momentum and sales.

What are the challenges associated with this type of real estate sales? 

With larger “project work” there are tons of challenges ranging from risk management, construction scheduling, market shifts & conditions, lending environment, appraisal management, timing, etc.

Managing buyer expectations and closing coordination is also tricky. One of the biggest challenges and one of our strongest skill sets is creating and maintaining a base line value for all of the homes and staying true to it (not dropping price just to sell out). We counsel the buyers on why paying full price is actually better than getting a discount upon purchase. In a multi-unit development, all of the values are tied to each other…maintaining the base level value puts the development in a much stronger position for future resales down the road.

Was there a key ingredient that supported Richmond Commons and its successful launch into the market?

There wasn’t one particular component that did it, but rather a combination of correct pricing, a solid location, a well-built energy efficient and beautiful home, favorable market conditions and a well executed marketing plan. All of these things came together nicely to create a great outcome for my developer client.

What’s next now that Richmond Commons is sold out?

Well….I don’t only do this type of real estate. I work with buyers and sellers every day to buy or sell all types of real estate.

As far as new projects, though….

We have a couple other very interesting projects coming down the line. One of them is in a super hot Hawthorne location with 12 modern, attached homes priced in the low-$400s. The other project is in Mt. Tabor and offers 3 ultra modern detached homes each with an ADU and situated on beautiful lots…priced in the mid-to-upper $700s. I’m happy to chat with buyers that may be interested in either of these projects.

Eric’s Clients Featured on apartmenttherapy.com

A few years ago Eric helped Jason and Eva purchase their first home, a perfect little craftsman bungalow in the Mt. Tabor neighborhood. Eva and Jason have nestled in over the past few years, making their house their home and apartmentherapy.com was there to feature it.

Eric is thrilled to have such happy inhabiters.  Check out the feature here.

Eric’s clients’ transformation

My sweet clients Jenn and Jenny hired me to find them a home. At first glance, I was facing a tall order with their needs and wants:  $200k budget, good bones, nice lines, a comfortable space for their daughter, a place to operate their home based craft business, not too far away from amenities, etc. I was up for the challenge because my clients were serious,  committed, prepared, dedicated, and ready to do what it takes to land a new home for their family.

We shopped high and low, wrote offers, and we got discouraged, but we kept getting back on the bike to ride. One day, after exercising significant patience, the right house came to us. It was rough but it was right. We competed for it, we secured the home under contract and got under way with our inspections and loan underwriting which created a whole new set of challenges: loads of deferred maintenance, elderly owner unable to make repairs, oil tank, dry rot, sketchy wiring,and several other mysteries. On top of this, the loan got shaky (both borrowers self employed). Our loan officer Vince Kingston of Eagle Home Mortgage was pacing at the title company they day we went in to sign…still on the phone, still pulling it together. But WE DID IT!!!

This weekend I received an email that made my day. Jenn and Jenny sent me before and after photos and a note that reminded me of why I am in this business. They purchased a home that even made me squeamish and turned it into a beautiful mid-century jewel. I am so happy for my clients. They faced the challenges and overcame the obstacles!

– Eric Hagstette

Happy Inhabiters – “Eric exceeded our expectations…”

“There is a great need in the real estate market for your style and approach.  You exceeded our expectations with Gloria’s house in every way.  We will recommend you whenever we get the chance.”  –  Lance

 Mt. Tabor house sold by Eric Hagstette, July 2013 Mt. Tabor house sold by Eric Hagstette, July 2013