In surfing, a “hold-down” is a term for when you’re caught in a succession of breaking waves. Three, four, sometimes more waves breaking over you with little room to outmaneuver, much less take a breath. While the glistening surf may be tempting, the cost of admission can sometimes be heavy. Yet the rewards for braving the elements can be life changing.
The relentless real estate market is having a similar effect on many. Rising home prices, low interest rates and the yearning for home have created a whirlpool of anxious buyers. Nominal inventory is being met with multiple offers, cut-throat offer strategies, and over-asking sales prices, making the waters challenging to navigate. Buyers are being led to expect the multiple wave – or in this case – the multiple offer hold-down.
Yet the current swell can’t last forever. As the economy continues to improve, so too will consumer confidence. With pent-up savings and record amounts of equity, the temptation to list current homes in order to purchase larger or more attractive homes increases. It is hoped this will release new inventory, and perhaps even to catch a breath.
Market Update: March 2021
If you are itching to test the proverbial waters and need some feedback and guidance, I’ve got the surf mobile gassed-up and ready! Average sales prices, total market time and shortage of inventory continue to amaze. In comparing 2021 to 2020 through the month of March, the average sale price in the Portland metro area increased 16.6%, from $461,600 to $538,200. Inventory in months (active listings at the end of the month divided by the number of closed sales for that month) decreased to 0.8 months. And total market time (active days on market) decreased from 61 days to 37. In other words, the limited inventory is being swallowed up in less time and for ever-increasing amounts.
Low interest rates, i.e. purchasing power, continue to drive many to the market. But as rates begin to rise, price appreciation should begin to cool, somewhat. Still, it’s good to keep in mind that relative to a year ago, mortgage rates remain at historic lows which is helping to keep housing relatively affordable.
Impressions of Home
When I was seven, my family moved from Santa Fe, New Mexico to Tulsa, Oklahoma. My father got a job as an art director at an advertising agency so we packed up and braved new territory. We rented a townhome for about a year while my parents purchased a vacant lot, designed and built a custom home. As kids, my sisters and I were thrilled with having our own rooms, but were clueless as to what such a process involves. My father added a typographical address mural on the garage door, hand-built the mail box and designed a moving announcement (photos below). Lots of love and creativity that went into the home.
Years later, we added an indoor swimming pool. What sold my parents on the pool project, aside from the obvious (!), was the purported offset of utilities with a south-facing passive solar “insulator” of space, meaning the room would insulate the home with warm air in the winter and cool air in the summer. I’m sure the water bills negated any savings, but it sure was awesome!
Tragically, after we sold the home in 1987, the entire house burnt to the ground due to an unattended wood-burning stove. What’s left to this day is the same empty lot that my parents started with.
Tulsa, Oklahoma • Gilcrease Hills • 4 bed 2 bath 2250 sq ft.
Empty lot and custom home bought, designed and built for $70,000 in 1978.
Lot only currently valued at $106,000.
In-person tours are still an option in many cases when necessary, but with precautions we take very seriously. We recommend live video tours for anyone that has cold or flu symptoms or concerned about a possible COVID-19 exposure. This goes for clients, as well as, agents. Our agents are following the recommended 6 ft of social distancing and strict hand-washing and disinfecting policies. Our agents provide our COVID-19 Safe Showing policies to clients for review prior to visiting any property in-person so you can make the best decision for your health and safety.
We are a small business that puts the care of our clients and agents first. I started this company six years ago because I knew there was a better, more innovative way to serve clients. This is an industry that one-size definitely does not fit all. Inhabit has always been forward-looking and our size allows us to be nimble in creating services that address changing needs and goals. We are here to give you the best real estate advice possible, now and into the future.
Another thing that makes it totally Portland is that a lot of times, when someone buys a home there, the people selling the home will pass their decorations along to the new buyers. But like I said, one of the things that makes it so very not like Portland is holy crap, it’s crowded! At least for the second half of December. The cops block off the street to car traffic now, which I guess makes it even more Portland. If you live on Peacock Lane and you have an emergency at 5:30 on a December evening –– like you’ve run out of kombucha or something –– you’re sure as heck not getting in your car to get more. I mean, not like you have to. There’s a Walgreen’s right down at the end of the block where, yes, last time I checked they sell kombucha. There’s also a weed dispensary around the corner which used to be this place called Immortal Piano –– broke my heart when it closed because, with a name like Immortal Piano…
So I know what you’re thinking. You’re thinking, “Well, Brian, that’s all super interesting. Do houses on Peacock Lane cost more than equivalent houses a block or so away?”
As I mentioned in another post, in Portland we have 20 blocks to a mile so even if you’re out by 82nd, you’re within biking distance of downtown. And it’s a nice ride, too, through Clinton, Ladd’s Addition, and over the Hawthorne bride. You can’t even get lost. Just follow the thousands of other bike commuters making the same trip. It’s a good ride back home. Short enough to do it every day. Strenuous enough that you can justify …you know where I’m going with this …
This is the time of year that many of us slow down, spend more time with family and friends, reflect on our year and start setting our intentions for the New Year. The holiday season, for many, prompts a feeling of gratitude. Maybe it’s because we slow down, take time off, reflect on the year as it winds down and what it has meant. But, did you know that the act of feeling and expressing gratitude has extreme benefits for our physical health, psychological well-being and relationships with others? Scientific studies have been going on for decades trying to understand the full benefits of simply expressing gratitude. 
Research has shown that gratitude helps us celebrate the present and participate more in life. It helps block negative and toxic emotions like envy, resentment and regret that can destroy happiness. Grateful people are more stress resistant and have a higher sense of self-worth.
Let me start by saying we’re not curing cancer here. I know that. What we do is help people do something they’re going to do anyway.
People, though. People can be happy.
As you can tell from the address, NW 23rd is 23 blocks from the Willamette River, which is just over a mile (blocks in Portland are shorter than they are in a lot of other cities). In between, you have non-stop interesting stuff: NW 21st is kind of the Clinton to 23rd’s Division (see my post on Division here, and on Clinton here). They’re super close, but different enough that people who live there tend to identify with one or the other.
I’ve already gone on about Division (
You also have two optometrists, a boutique that sells kid stuff …even two real estate offices.
These four simple words “outside of the ordinary”, turns a switch in the brain. It’s freeing, kind of like coloring outside the lines. It’s an opportunity to explore the options of what’s possible and not feel hemmed in by preconceived limits or expectations. I remember my second-grade teacher telling me to color inside the lines; she had no idea what she was saying. Having the courage to be creative and go beyond what’s expected is the goal. How am I going to be unique or extraordinary today? What can I accomplish in my life and career if I actively seek what is outside of the ordinary?
In the world of real estate, brokers have the opportunity to think outside the ordinary daily. Helping people buy and sell real estate is not cut and dry by any stretch. No two deals or clients are alike so having the ability to think outside the box is paramount in providing true value. Personally, I have found the best way to do this is to have an exceptionally organized plan, be proactive, have steadfast balance in your life, an immaculate and positive attitude, the ability to look for solutions when faced with obstacles and last, but not least, a client-centered approach.
If you are looking for an extraordinary advocate to help you navigate the world of real estate, please reach out. I will take the reins and guide you to your dream home!
Okay, I lied. The Mt. Scott community Center is the centerpiece of the neighborhood. It’s adjacent to or maybe in the park and has two swimming pools – one that’s great for lap swimming and water aerobics and the other that’s built just for kids, with a slide, whirlpool, buckets that splash water on top of you, and a wading area that graaaaaaaadually gets deeper and deeper until the water comes all the way up to your knee.
I was also told that the Arleta Triangle, a weird orphan of land that’s cut off from the southwest corner of the park at SE 72nd and Woodstock, came about because trolley tracks were laid to cut the corner of the park, leaving a little triangle of land all sad and lonely out there in the middle of the intersection. It sounds convincing, but according to the 1942 trolley route map I dug up, the trolley didn’t go anywhere near that corner. And also, it wasn’t called the Mt. Scott Trolley.
The timing was perfect for hippies. San Francisco was getting pricey. So tons of them hitchhiked up north to a land where you could drive a VW bus 20 minutes in almost any direction and find yourself in a gloriously beautiful setting –– you could take a quick hike through misty woods, pluck a couple of psychedelic mushrooms, and bliss out naked in a hot spring.
The hippies turned their craftsman houses into goat barns, pottery studios, rooming houses, and mini ashrams. They didn’t have the money (or inclination) to tear the houses down and build modern houses, but they put enough love and care into them to keep them from falling completely apart.
About 15 years ago, I can’t remember who, but some adventurous chef decided to open a restaurant on SE Division, driven mostly by how inexpensive the property was. The restaurant became a media darling and other chefs came in with their restaurants. Soon Division became a culinary destination. That’s about the time that I moved into the neighborhood. I used to walk five blocks to Pok Pok, sit down, and have a great lunch. Now you have to wait in line for an hour to get in.
Division is super close to downtown. You just hop on your bike and pedal thirty some-odd blocks and you’re at the river. Take the Hawthorne Bridge across and bam, you’re there. Bonus, Hawthorne is about a half mile to the north and Clinton is two blocks south and a little west. Getting to the airport is pretty easy, too. Just head east to the 205 Freeway and go north. It used to take me 20 minutes. I suppose now it’s 35 when there’s traffic.
they drive up to your home and the landscaping is nicely manicured, the walkway is clean, there are welcoming potted plants at the front door, the door itself is inviting, the windows are clean, the exterior paint is in great condition, perhaps there are even a couple of nice chairs or a porch swing (if applicable), it will create a positive first impression. Remember you are just trying to set the stage that tells the potential buyer this is a quality home and a lot of care has gone into it.
important for building on that first impression. Take extra care to make this space as warm and inviting as possible. Also, notice the scent of your home when you enter the front door (this is especially important if you have a pet). A nice scent helps create an inviting atmosphere that works on a subconscious level with the prospective buyer. Nothing will dissuade a buyer faster than “house-a-tosis”. It’s important to correct the odor instead of covering it up if it’s due to mold or carpet damage caused by pets, etc. Stay away from heavy perfume scents or anything overbearing. Freshly cut flowers in the entry and throughout the house can provide some natural scent and add extra beauty and warmth to your home.
collection of widgets, but a prospective buyer might be distracted by all of the clutter. You want the buyer to look carefully at your home, not your possessions. A good rule-of-thumb is if it’s smaller than a grapefruit, pack it up. Remove any countertop appliances that are not built-in. Your furniture and accessories should help them get a sense of the space in the room and allow them to envision moving their own things in. Consider removing your personal photographs and memorabilia. You want buyers to envision creating their own memories in your home, not distracted by yours. Closets, basements, attics and garages should be clean, well-lit and organized. Ample storage is a common buyer request so make yours appear as spacious as possible. Do not make the mistake of moving the clutter from the living spaces to these areas. A temporary storage unit might be well worth the investment while your home is on the market. Plus you are moving, so consider the packing process underway!
Look at every surface: floors, walls, doors, windows, ceilings, built-in furniture, etc. Also make sure that all of your home’s systems are in good working condition (electrical, mechanical & plumbing).
you are trying to appeal to the masses so if your home is decorated in a way that only a select few can appreciate, change it. Don’t remodel – it’s amazing what a fresh coat of neutral paint and simplifying and rearranging your current possessions will do. A few new accessories like fluffy new bath towels, accent pillows and fresh flowers might just add the finishing touches. Also, if your house is on the dark side then purchasing some extra lamps or using LED bulbs will be money well spent.
all the clutter removal, repairs, and improvements. This is money well spent and will put the final polish on your “show ready” home. And don’t forget the windows!
As a small, Portland-based company, our goal was to celebrate everything local in our design. We partnered with 
We turned to Portland’s own 
