Today’s Market and the June Must-Do Maintenance List
The term Today’s Market means something different to whoever you ask. This episode Andrew and Audra break down the actual conversations they’re having with clients and the potential clients. Andrew Galler’s Market Minute examines the statistics and what real-life real estate activity is like as of now.
Plus, we dive into the must do maintenance items to tackle in June. Don’t procrastinate drop a line to The Portland is Home Team at hello@realtyworksgroup.com and have them help you get it DONE!
Newsletter from the Gallers:
Hello Friends!
Doubtless you have heard the (true!) joke about the 11 seasons of Oregon…right? I think it goes like this: Winter, Fool’s Spring, Second Winter, Spring of Deception, Third Winter, Mud Season, Actual Spring, Summer, False Fall, Second Summer (1 week) and Actual Fall. I’m not certain if last Saturday was Fool’s Spring (seems a tad late for that?) or Spring of Deception…regardless, the point is that I feel this is how the Real Estate Market is right now.
We are experiencing layers of distortions from the cumulative effects of the pandemic and the associated financial side effects. Of note:
Continued high interest rates (and they fluctuate wildly day-to-day)
The fact that somewhere in the neighborhood of 80%+ of all homeowners are locked in at interest rates below 3% (or so)
Sellers staying off the market and buyers with no home to sell blocked out of the market because their payment is too high for the home they want to buy.
It’s a log jam, people!
So, where does that leave us? We STILL have very low inventory + healthy demand in Portland. We are still experiencing multiple offer situations…but they are hit & miss and hard to predict which homes will yield offers. We are seeing homes that are well-priced and super market-ready garnering multiple offers. As we know, life is going forward regardless of the news cycles and we are always here to consult, advise, go to lunch or just chat! Please feel free to contact us anytime.
We always cherish your support and our ability to help you, your friends and families!