PDX Renovations

Tag: sell Oregon home

  • Summer’s Coming. Now’s the Time to Sell. Why?

    Summer’s Coming. Now’s the Time to Sell. Why?

    Whoever coined the phrase “Timing is everything” may well have been referring to real estate. Deciding when to sell your home is of crucial importance. With summer soon to be upon us, there are several factors that make the season an ideal not only to sell your home quickly, but to maximize your profit. In this post, we will examine a few of these factors.

    Kids and School

    Changing schools is a major transition for children, especially in the midst of a school year. As a result, many parents prefer to move during the summer months to allow children time to adjust to a new setting before the school year begins.

    Low Inventory in Local Markets

    The inventory of homes for sale in your locale is crucial when deciding to sell, and inventory in many markets has been low. Lack of inventory can spark a rapid price growth. Low inventory can translate into more competing bids for your home, meaning you can negotiate better terms of sale.

    Longer Daylight Hours

    This one’s a no-brainer. Summer features more daylight hours than any another season, meaning your home is more visible to those on the street.  Potential buyers also have more opportunities to tour your home.

    Aesthetics

    A home is usually at its most beautiful during the summer. Gardens are in bloom, the grass is green, and all of those spring improvements owners have made frame a house in its best light. Furthermore, neighborhoods bustle with activity during the summer, creating a welcoming atmosphere for homebuyers. Or, put another way, during the summer potential buyers are less apt to be preoccupied with thoughts of having to rake leaves or shoveling a driveway.

    What are some other factors that make summer a great time to sell a home? 

    If you have a house, lot or land to sell, fill out our sell fast form.

     

  • 4 Challenges Widows Face in Keeping a House

    Women continue to outlive men in our society. Faced with less income, some widows move to more manageable housing situations but decide to keep the house and rent it out as a source of monthly income. But is this a good decision?

    This post reviews the challenges widows face in keeping a house and why a decision to sell the house makes better sense.

    1. It’s Expensive

    Just getting a property ready to rent can be an expensive proposition. Everything needs to be in working order, cleaned, and freshly painted at a minimum. Other items needing attention may require a greater investment. Services like landscaping need to be considered if the property is to hold its value (don’t expect the tenants to keep it in the shape you expect). Marketing the property, running ads, and running background checks on applicants all cost money. In short, the initial outlay of capital can be great.

    2. It Requires Cash Flow

    The landlord business requires a good, steady stream of expendable cash flow. Keeping up with the costs of repairs and maintenance can be expensive. Then, there are the problems of abusive tenants, unauthorized pets, long-term guests, and other factors that add to wear and tear greater than might be expected.

    In cases involving serious property damage, repairs and renovations can be quite expensive.

    All the above costs continue to add up, resulting in far less monthly income than previously anticipated. The fact is that most rentals make money when they sell; profiting on a month-to-month basis is a rare luxury.

    3. It’s Hard to Do

    Rentals demand a lot of time and effort from landlords. For example, tenants consider household chores like fixing a light switch of a leaky faucet that homeowners take for granted as the responsibility of the landlord. Without a man around the house, who is going to take care of these tasks? More than likely, a widow is going to have to rely on the services of a handyman, and that just adds to the expenses already discussed above.

    Other areas such as advertising the rental, screening tenants, and showing the property require time. Alternatively, one can hire the services of a management firm, but that cuts into overall profits, too.

    4. The Income is Not Always Reliable

    Few landlords are fortunate to have long-term tenants. Turnover in the rental market is frequent. Each time occupants leave, there is a period of a vacancy during which no income is realized, and added funds are spent to prepare the house for the next renter. Idle rentals can deplete needed landlord cash flow in a hurry.

    Rather than face the above challenges and take the added financial risks, a widow may be better served financially by selling the house. The income from the home’s equity could be invested in an instrument like an annuity which could make up for less monthly income in a stable and no-risk manner.

    Selling the home for cash is a good way to avoid costs associated with preparing the property for the market—repairs, renovations, and the like—real estate fees and commissions. A cash house sale can take place very quickly, freeing up equity and adding to increased monthly income now when it is needed.

    Do you think a widow should try to keep a house as a rental?

    Do you have a piece of property (house, lot, or land) you’d like to sell fast?  Fill out our Sell Fast Form and get a cash offer within one hour of us viewing the property. 

  • 5 Signs Renting Your House is Not for You – Sell A Portland House?

    Are you beginning to regret your decision to become a landlord? Should you stick it out, continue to deal with the frustrations or should you sell the house?

     

    The Portland, Oregon and Phoenix, AZ markets have presented a lot of investment opportunities over recent years. Many investors decided to take advantage of below market values by snatching up rental property. Unfortunately, many discovered that this landlord business is not for them. Here are 5 signs that you may not be cut out for renting your house and that you should consider selling your Portland or Phoenix house.

     

    1. 1.    Your Cash Flow Isn’t Cutting It. Rentals can generate income, but they can also demand a lot of attention and a lot of continued investment. It seems like something is always in need of repair. Association dues continue to go up. Extended vacancies mean no money coming in. All this and other issues associated with renting can create a strain on finances and may result in a loss of money, rather than the hoped for gain in monthly income.

     

    1. The Neighborhood is Taking a Turn for the Worse. The housing bubble and the recession put a lot of financial pressure on people in the Portland and Phoenix area. Foreclosures, unemployment, underemployment have all added up to a pretty ugly scene. As a result, many neighborhoods experienced a disproportional drop in value. Vacant homes, the inability to keep up with routine maintenance and an influx of renters have hit some areas hard. If you own in a neighborhood that has seen significant depreciation, you may want to consider selling that Portland or Phoenix house, because it is not going to get any better soon.  It might get worse.

     

    1. You Can’t Wait for the Market to Rebound. If you have investment money tied up in a property that could be making a better return today, consider selling. The value of housing is not expected to return to former levels for another 5—10 years. For investors who were hoping to make a faster return on the property, this length of time is just too long to tie up funds. Selling now can free up equity that can be used for other investments or to cover daily living expenses.

     

    1. You Don’t Have the Time. Renting can be very time consuming. Advertising a property, interviewing applicants, maintaining a property can all demand a considerable amount of time. For a lot of folks, the time requirements are more demanding than they bargained for and may be taking away from quality family time.

     

    1. The Property has Serious Renovation Issues. Sometimes it just doesn’t pay to keep throwing good money at a problem property. Whether due to age, a negligent tenant or natural causes, knowing when to sell and move on can save unnecessary financial pressures.

     

    One way to sell a Portland or Phoenix house quickly and stop the financial bleeding is to sell to an experienced, local real estate investor. You can sell your Portland or Phoenix house quickly for cash with a real estate investor and avoid continued financial stress and strain.

     

    Are you considering selling your Portland or Phoenix house?

     

    Do you have a piece of property (house, lot, or land) you’d like to sell fast?  Fill out our Sell Fast Form and get a cash offer within one hour of us viewing the property.