The Fed Raised Interest Rates. Now what?

 

 

rates

 

You may have heard that the Federal Reserve raised rates last week… But what does that mean if you are looking to buy a home in the near future? Many in the housing industry have predicted that the Federal Open Market Committee (FOMC), the policy-making arm of the Federal Reserve, would vote to raise the federal fund’s target rate at their December meeting. For only the second time in a decade, this is exactly what happened. There were many factors that contributed to the 0.25 point increase (from 0.50 to 0.75), but many are pointing to the latest jobs report and low unemployment rate (4.6%) as the main reason. Tim Manni, Mortgage Expert at Nerd Wallet, had this to say,

“Homebuyers shouldn’t be particularly concerned with [last week’s] Fed move. Even with rates hovering over 4 percent, they’re still historically low. Most market observers are expecting a gradual rise in home loan rates in the near term, anticipating mortgage rates to stay under 5 percent through 2017.”

Bottom Line

Only time will tell what the long-term impact of the rate hike will be, but in the short term, there should be no reason for alarm.

 

Cary Perkins,
Windermere Top Producer
Fun With Real Estate
Current Portland Oregon Real Estate Information,
Highlights of Portland Oregon, House Ideas
Portland Oregon Homes

by Cary Perkins

Portland Real Estate, Portland Oregon Top Producer, Windermere Top Producer, Portland Realtor, Portland Homes for Sale

Windermere Top Producer Cary Perkin

Posted on December 22, 2016 at 4:40 pm
Cary Perkins | Category: Current Portland Real Estate Market Information, Moving to Portland, Portland Oregon Real Estate, Portland Oregon Realtor | Tagged , , , , ,

Brass is Back!

I've read about it but I haven't seen much of it yet.  Until yesterday on Realtor tour when I spotted a fabulous example of the new brass that's back in style.  Don't get excited.  Your shiny brass doorknobs and faucets (and god forbid your shower door trim) has GOT to go. 
 
But if you love the idea of something new, and are tired of the rubbed bronze and polished nickel that's been all the rage for the last ten years, here's your new obsession.
 
Click through to see the rest of the house. 
 
Want to go shopping?
 
 
 
 
 
Cary Perkins,
Windermere Top Producer
Fun With Real Estate
Current Portland Oregon Real Estate Information,
Highlights of Portland Oregon, House Ideas
Portland Oregon Homes

by Cary Perkins

Portland Real Estate, Portland Oregon Top Producer, Windermere Top Producer, Portland Realtor, Portland Homes for Sale

 

 

Posted on April 9, 2014 at 5:01 pm
Cary Perkins | Category: Beautiful Houses, Color in home decor, Decorating Ideas, House Ideas, Portland Oregon Realtor | Tagged , , , , ,

NW Portland Walking Tours

 
 
 
Once spring arrives, Portland starts looking its prettiest!
 
Our native rhododendron, azaleas, camillias, quince, magnolias, apple and cherry blossoms seem to brighten every path, street and yard.  It's a beautiful time for a walking tour.  Even if it drizzles a little bit, there are plenty of places to pop into for a local coffee or libation. 
 
 
 
 
Mike's History Tours are an option for those who aren't from Portland and aren't sure where to start.  For only $20 you can learn from a native, and visit sites that many Portlanders don't know the history of – and certainly you'll enjoy springing these facts on your friends!  If you're a local, what a fun diversion and a chance to learn about virtually every building in the neighborhood.
 
Portlanders, here's a challenge for you:
 
 
MIKE'S HISTORY FUN QUIZ #1

 

 The Ringside Steakhouse building on West Burnside
   was once the 
home of . . .
   A. A Piggly Wiggly Grocery Store
   B. An Auto Body Shop
   C. A Boxing Arena
   D. A Computer Repair Shop

 

   The Besaw's Restaurant building at NW 23rd and
   Savier was once the home of . . .
   A. A Barber Shop
   B. A Grocery Store
   C. A Drug Store
   D. A Laundromat

 

   The north side of the Uptown Shopping Center
   was once . . .
   A. A Horse Stable
   B. A Hospital
   C. A Circus Grounds
   D. A Brewery

 

   The Montgomery Park building at NW 27th and
   Vaughn Street was once . . .
   A. The Vaughn Street Ball Park
   B. A Sears, Roebuck & Company Catalog Sales
   Outlet & Retail Store.

   C. A Montgomery Ward & Company Catalog Sales
   Outlet & Retail Store.

   D. A Meier & Frank Company Warehouse & Toyland.

 

   The site of Meriwether's Restaurant on NW Vaughn
   was once . . .
   A. The entrance to the 1925 Meriwether Lewis
   Worlds Fair.

   B. The entrance to the 1939 Lewis & Clark Worlds
   Fair.
   C. The entrance to the 1936 Summer Olympics.
   D. The entrance to the 1905 Lewis & Clark
   Centennial Exposition.

 

 

(The correct answers are found on Mike's home page)

 

I'd love to take you on a real estate tour, visiting some of our neighborhood's prettiest homes for sale. Your first stop will be the former Mills residence at 733 NW 20th Avenue, our beautiful, historic office.  

If you're ready to move to NW Portland, just call!

 

 

 

 
 
Cary Perkins,
Windermere Top Producer
Fun With Real Estate
Current Portland Oregon Real Estate Information,
Highlights of Portland Oregon, House Ideas
Portland Oregon Homes

by Cary Perkins

Portland Real Estate, Portland Oregon Top Producer, Windermere Top Producer, Portland Realtor, Portland Homes for Sale

 

 

Posted on April 2, 2014 at 3:43 pm
Cary Perkins | Category: Beautiful Houses, Moving to Portland, Portland Oregon, Portland Oregon Real Estate, Portland Oregon Realtor | Tagged , , , , ,

A Portland Real Estate Year in Review

 

Thank you for your business and all your referrals… what a wondeful year it was.

 

 

Portland Oregon Real Estate Information, House Ideas, Portland Oregon Highlights.
Caryperkins.com…  A Windermere Top Producer….Fun With Real Estate

by Cary Perkins

Posted on February 17, 2014 at 10:08 pm
Cary Perkins | Category: Beautiful Houses, Current Portland Real Estate Market Information, Moving to Portland, Portland Oregon, Portland Oregon Real Estate, Portland Oregon Realtor | Tagged , , ,

Buying a Home Sight-Unseen

 

 

While not for the faint of heart, some out-of-town home buyers just can't be there to see every new listing, and have to make the offer without having seen the house.  This requires a high level of trust, and the Realtor must be very careful to guide, but not sell.  (Though it helps to have spent considerable time with the buyers on at least one previous visit.)  Obviously, there is a distinct possibility that once the buyer sees the home, it may not be exactly what they had envisioned.

This is why mobile devices are so useful in the home buying process.  With a portable hot spot, a realtor can use Facetime to walk through the home with a live feed to the buyer.  Questions can be asked real time, and Realtors can show nooks and crannies that aren't normally photographed.  Panoramic photos can show the entire yard and its surrounds, so buyers can see whether there are homes peering into their private spaces.  Videos of the street, and all the neighboring houses can help the far away buyer to get a good feel for the neighborhood.  Texting, phone calls and email from the home make for instant answers to any questions the buyer may have.  Once they've "seen" the home in this way, they can feel a level of comfort in buying a home sight-unseen because they've actually "seen it." 

The home above looked like a nice, private new construction option for my buyers.  When I previewed the home, it was sandwiched between one large home that overlooked the entire site, and another too close for comfort.  One panoramic photo told the tale better than any telephone conversation.  

 

The Wall Street Journal has just published an interesting article on the use of mobile phones and buying homes. 

 

I'm in the middle of one such transaction at the moment, and I'll have to share the details once it's concluded!

 

 

 

Portland Oregon Real Estate Information, House Ideas, Portland Oregon Highlights.
Caryperkins.com…  A Windermere Top Producer….Fun With Real Estate

 

by Cary Perkins

Posted on December 15, 2013 at 6:09 pm
Cary Perkins | Category: Buying property without ever seeing it, Current Portland Real Estate Market Information, House Ideas, Moving to Portland, Portland Oregon Real Estate, Portland Oregon Realtor, Portland Oregon Realtors | Tagged , , ,

Q & A – What if we don’t get any offers?

 

 

 

 

 

 

My clients are full of questions.  People I meet socially are full of real estate questions.  Everybody has a question about real estate.  Here's a good one with a simple answer.

 

 

Q:  Sometimes you have a fabulous house, priced where the market statistics tell you it should be, and there is a steady trickle of showings, but no offers.  If the neighborhood is good (location) and there's nothing left for the buyers to repair and the house is clean and show-ready, (conditon) is it the price? 

 

A:  There are basically three factors in the equation.  When two out of three can't or don't need to be changed, you have to look at the third. 

 

In this case it must be the price.  There is a simple 21 day formula for determining if a price reduction is in order.

 

1.  If there are showings and perhaps an offer that didn't come together, a 3% price reduction may be in order.

2.  If there are showings, but no offers, a 4% price reduction may be needed.

3.  Finally, if the property is not getting any showings or offers, a 5% reduction may put you in a position to get things moving, and offers coming in.

 

Obviously, depending on the price range, these percentages may differ, but this is a good rule of thumb.  Watch the number of showings, and after 2-3 weeks, you'll have your answer.

 

Contact me any time with your real estate questions!

 

 

Portland Oregon Real Estate Information,
House Ideas,
Portland Oregon Highlights.
Caryperkins.com
Posted on January 19, 2013 at 8:14 pm
Cary Perkins | Category: Current Portland Real Estate Market Information, Portland Oregon Real Estate, Portland Oregon Realtor, Selling Your home | Tagged , , ,

Chirping Smoke Detector

 

You know that annoying chirp when a smoke alarm battery is at the end of its life?  It's not unusual to open up a vacant home and have the tweeting accompany your showing.

 

I think this would make it OK. 

 

Replace your flying saucer shaped smoke detector with this darling bird!  Available at Urban Outfitters for $75.

Posted on November 27, 2012 at 1:44 pm
Cary Perkins | Category: Daily House Idea, Decorating Ideas, Portland Oregon Real Estate, Portland Oregon Realtor, Selling your home during the holidays | Tagged , , ,

Giving Thanks for Love

It can sometimes be difficult helping people through the emotional decisions and proceedings as they buy and sell their houses.  Certain people rise to the occasion, and others try to drag you downwhen they get tired, grouchy or worried.  I've experienced both lately. 

 

Years ago I was told that I'd meet "givers" and "takers," and to try to stick with the "givers."  (I don't mean material gifts – I'm talking about their spirits.)  Below are little notes from two "givers" who I have had the pleasure of working with recently.  They both arrived yesterday, and they absolutely made my day, especially after wrestling with my feelings after a "taker" got super grouchy last week.  It's no surprise that these "giver" clients were referred from other clients and friends who are also "givers." 

 

"  Dear Cary,

You are amazing! I can't thank you enough for working so hard for us through this entire process. We knew from the get-go you were a stellar realtor, but honestly, you are such a good friend too. We are so blessed to be working with you! You really are our Care Bear 🙂 "

 

Nghi & Aaron

 

"THANK YOU!!!!

For everything, over and over. You are such a gem. Pure sunshine.

It was so lovely to see you today, as always.

Have a great week and weekend.

I don't have words for how much I appreciate you.

Best to you always 🙂

xx"

 

Deaunne

 

 

 

I'm giving thanks for having the opportunity to work with such lovely people!!

 

Giving Thanks for Love is the name of the Linda Cote print at the top of this post.  This beautiful print is available on greeting cards for $5 here, at Linda Cote Studio Printmaking.  I'm going to order some today!

Posted on November 6, 2012 at 9:02 pm
Cary Perkins | Category: cary perkins, Portland Oregon Realtor | Tagged , , , , ,