Market Optimism

Do you fancy yourself an electrician? Perhaps a plumber? Certainly a painter? If you are anything like me, you may think that the easiest, quickest and most inexpensive solution to your home improvement needs is you, your trusty hammer and a reliable YouTube tutorial. Over the past year the DIY industry has been in full swing as more homeowners have been tackling their own house projects. From the bathroom to the garage and everywhere in between, the yearning to correct that wonky cabinet door, replace a loose shower tile or build a backyard fence is evident and the solution clearly in your hands. Yet, homeowners have reported spending an average of $184.13 to fix their failed DIY house projects, according to a new survey from Cinch Home Services, a home warranty company.

These are the most common DIY fails, according to the survey:

 

If you are all right in handing over the hammer to a professional, from roofers and landscapers, to chimney and foundation specialists, I’ve amassed an extensive list of reputable (local) vendors for your every home need. Just say the word and I will happily share a contact, or several. It’s always a good practice to consult more than one vendor for ideas and pricing and never hurts to get a second opinion, aside from that of your loyal pet or significant other.

Market Update: May 2021

The strong sellers market continues to loom large. Interest rates remain at historic lows, multiple offers are the norm on well positioned homes and the average sales price ($557,900 in Portland Metro) is still on the rise. For those considering a home sale, it behooves you to take advantage of exceedingly high buyer demand and before you have any added competition in your neighborhood, with all the competition out there it is best to remain positive. Be patient and try to keep emotional decisions to a minimum – we want you to enjoy your home and your investment for years to come.

There is still a ways to go before we see an abundance of homes on the market but there are some promising signs as of late. As the economy continues to improve (along with those flush with newfound equity and aiming for new horizons), and people get vaccinated and feel more comfortable getting out, more inventory is certain to appear.

Fannie Mae reports consumer positivity regarding home-selling conditions matching an all-time high. And a realtor.com survey concluded that one-in-ten homeowners plan on selling this year, with 63% of those looking to list in the next six months.

Please feel free to reach out if you’d like a custom home analysis or have any questions.

Local Artist Spotlight: Me!

For the past twenty years, I’ve been designing program logos and communication collateral for corporate events. These were created largely for business meetings and incentive campaigns that took savvy travelers to destinations around the globe. Sadly, these elaborate events came to a screeching halt at the onset of the pandemic. As a result, hundreds of thousands of livelihoods have been upturned, including my own; it will be some time before they return in full.

In the spirit of Beeple, the digital artist who recently created and sold the most expensive piece of NFT (non-fungible token) art, I’ve compiled dozens of my own creations, favorite logos from over the years. From Bora Bora to Prague, Japan to South Africa, my aim was to capture the essence of these dreamy locations within a single brand. And now for your armchair-travel-viewing pleasure. If you’ve been looking to jump into the crypto-currency arena and are in the market for an NFT, perhaps I can put my screen-savvy sons to task in getting this onto the EPH blockchain.

I understand most of you are relatively settled in your current homes. But if your friends, family members, neighbors and work colleagues have expressed any interest in seeking greener pastures, your referrals would mean the world to me.

Seasonal Real Estate

Growing up in Santa Fe, New Mexico and Tulsa, Oklahoma, I developed an affinity for the seasons. Delightfully, here in Portland, we get a wonderful taste of all four seasons, from the *generous* rainy season to some gorgeous spring days, a handful of summer scorchers and even some blustery snow days. The variety is as welcomed as it is vital, to my mental state anyway. Even the recent ice storm was something to behold. While entertaining in its drama, it was certainly disconcerting for many of us. And yet another reminder of how dear it is …our place called home.

As with the weather, the real estate market typically follows a seasonal pattern. With COVID dramatically altering that pattern in the spring of 2020, and confidence now growing with the rollout of vaccines, we suspect that inventory will start to increase as people feel more confident to sell. Sales in 2021 may not follow traditional seasonal patterns and hopefully, buyer demand and consumer confidence will remain aloft.

Even during the financial crisis of 2008 there was still demand for properties that had the right look, the right price, and were in the right location. In 2021, sellers should follow similar behavior, fixing up their property and pricing appropriately to attract the widest range of buyers. Buyers should be prepared to move quickly, possibly use pre-emptive offers (which are becoming more common), and keep an open mind when looking for their home: all purchases require some compromise (yes, even for multi-million dollar properties), so you might need a little more creativity and patience to take a diamond in the rough and make it yours.

Reach out if you want to know how to best prepare for 2021.

Market Update: January 2021

What a year already. Median home prices in the Portland Metro area reached a new high: $460,000, an eye-opening 13.3% increase over the previous year. Homes sold an average of 11.2% over list price in January, in an average of 44 days on market.

There are a large number of sellers getting ready to list sooner than the typical spring selling market, so buyers should be ready to move quickly, and sellers should be ready for a higher level of competition.

Mortgage Update

Interest rates remain at near record lows, with purchase rates in the mid to upper 2’s and refinance rates only marginally higher.  We are seeing day to day volatility the past few weeks resulting in a slight upward trend in rates.  Among economists there is much disagreement, with President Biden’s proposed $1.9 Trillion Relief Plan of greatest concern. The concern is that this plan may overheat the economy, leading to a stock market bubble and increased inflation, this in turn would cause mortgage interest rates to rise.  The general consensus for 2021 is that we will see more rates in the 3’s and less in the 2’s, which is still low enough to continue to support the strong demand for housing.

For now, rates are at record lows and it’s still a great time to refinance or get pre-approved for a mortgage. If you have any questions, please contact Martin Matsumura at Academy Mortgage via martin.matsumura@academymortgage.com or 503.536.9385.

 

How We are Handling the Second Wave of COVID-19

November 16, 2020 Update

As we all know, COVID-19 is on the rise in Oregon and Governor Brown has instituted a statewide freeze.  At Inhabit, we are committed to keeping the health and safety of our clients and agents at the forefront of everything we do.  Strict office policies are in place to ensure a safe work environment.  We also updated all of our client engagement protocols so the health and safety of our clients come first.  Last March, we launched our Couch Concierge service that brings the entire home buying and selling process to our clients.  Everything from virtual open houses, live video showings with our agents, to virtual contracts and closings.

Here is a recap of how we continue to tailor and improve our services during COVID-19:

Our sellers shouldn’t worry about canceled open houses.  We will create a digital marketing campaign that brings your house to potential buyers all without risking anyone’s health or safety.  Our agents will tailor a showing plan that you feel the most comfortable with.

We have a lot of active buyers right now.  To short-list property options, we offer live video tours.  Your agent will walk you through the property showing you every nook and cranny with honest feedback on quality or construction issues they see– all from the safety of your home.   

In-person tours of your “must-see” homes are still an option in most cases when necessary, but with precautions we take very seriously.  Our agents are following the recommended 6 ft of social distancing, mask-wearing, and strict hand-washing and disinfecting policies.  We will not show homes to anyone that has cold or flu symptoms or has had any exposure to COVID-19 within 2 weeks of the showing.  As your agent, we promise you the same courtesy and will pair you with another Inhabit team member to safely show you the home if we are under the weather or are concerned about personal exposure.  Your agent will provide our COVID-19 Safe Showing Policies for your review prior to visiting any property in-person so you can make the best decision for your health and safety.

As a small business, we put the care of our clients and agents first.  We are all in this together. We promise to use integrity and knowledge as our guiding force.

Here’s to peace, health, and prosperity for all of us in the coming months.

Eric 

Meet Our Founder

Our fearless leader, Eric Hagstette, is this month’s cover feature in Portland Real Producers Magazine.  Click the magazine image below to see the full article and learn what motivates this great guy.

 

Here’s the transcript of the article:

Eric Hagstette’s social conscience is one of his strongest driving forces. Owner and principal broker of Inhabit Real Estate, Eric is this month’s Top Producer.

Starting his career in business to business sales for a Fortune 300 New York-based company, Eric transitioned into real estate in 2005. He looks back on his time in Corporate America with gratitude and appreciation for teaching him the fundamentals of sales, marketing, and most important, follow-up. “This is where I also learned that excuses are…just that,” Eric explains.

As a longtime Portlander, Eric is passionate about our city and how it is being affected by the pandemic, wildfires and smoke, protests, riots, and the current political divide. When asked how the wild ride of 2020 has affected his business, he told us, “Big question. The big picture crises we’re facing are much bigger than our work. They are more important than selling real estate, and we’re right in the heart of all of it. ‘Home’ has never been more important and we are in the business of ‘home.’ I feel torn between all of the hardships resulting from COVID-19 and the abundance that real estate is providing as a result of these unprecedented times. Transactionally speaking, we are in the right place at the right time… there is no shortage of business. Portland has certainly seen its day in the news through all of this and the long-term effect on our business is hard to predict. One of the silver linings of all of these things, from my observation, is a galvanization of the brokerage community. From COVID-19 to wildfires (and everything in between), I’ve seen brokers work together like never before. Kudos to all of you. Thank you.”

Real estate brings with it many rewards. For Eric, one of the biggest rewards comes in the form of the various relationships he has been able to foster over the years. “Hands down it’s all about the people. Not just my clients but my colleagues, my team, my mentors, my co-op agents, my vendors, our neighbors.”

Eric also finds fulfillment in owning and managing Inhabit Real Estate. “Operationally, managing a residential real estate brokerage while simultaneously running my personal sales business allows me to wear all the hats. From coaching my agents to prospecting for business, writing copy for ads, working on budgets and business plans, and everything in between. And who doesn’t love houses, photography, interior design, architecture, marketing, continuing education, networking, and all the fun stuff? Of course, our job also comes with all the tough stuff like unpredictable market conditions, challenging clients, paying taxes, delivering bad news, the emotional roller coaster of real estate, and the woes of being self-employed.

Luckily, my attention span helps me thrive in this multi-tasking, fast-paced, up-and-down market. I honestly love all of it.”

Finding passion in all of the possibilities that real estate affords, motivates Eric on a daily basis. “I have always been passionate about the unlimited possibilities that a real estate license affords us. With hard work and a simple plan, the sky’s the limit for REALTORS®. Playing such a pivotal role in times of transition for my clients is a huge responsibility. I have always held the importance of this piece with passion and drive. As a brokerage owner, I am passionate about teaching, training, and watching my brokers achieve their goals and dreams through real estate.”

Eric’s biggest reward in life is his family. Due to the pandemic, Eric has spent more time at home with his family than at any other time in his professional career and for him, this has been a huge blessing. “My family is the driving force behind my success. Not only do they motivate me every day but, as many of you know, to support the life of a REALTOR® requires a special family support unit. My family rides the roller coaster right by my side and they provide a safe haven to escape to. I’ve been married to my wife Kim for 21 years. I thank my lucky stars every day that our paths crossed. Not only is she my life partner, but she’s also my business partner and co-owner of Inhabit Real Estate, all the while holding down the fort at home and running her award-winning interior design business. We have two amazing teenagers who keep me in check and make sure I’m as ‘woke’ as possible for an almost-50-year- old dad. I learn a ton from my kids. I have so much hope for the younger generations who know more about equality, acceptance, and non-judgment. We can all take a note from the kids of today and appreciate their fire and passion, their resilience and brilliance, and their endurance through these unusual times. And, by way of osmosis and exposure (to me), my family knows more about oil tanks, sewer lines, multiple offers, and even the value of off-street parking.”

Along with the rewards of real estate comes the challenges. This year has been trying for everyone. The devastation from wildfires and the loss of life and business upheaval caused by the pandemic is horrific. We asked Eric what new challenges he has been facing and navigating since the pandemic hit and he told us, “Wildfires, extremely hazardous air quality, political unrest, social outcry and one of the most significant Presidential elections in history, all the while keeping pace with one of the busiest markets I have experienced in 15+ years of selling real estate. The erosion of affordable housing in Portland is accelerating at light speed and this is an indirect challenge that we cannot turn a blind eye to. The pandemic, wildfires, and the election will be in our rear-view mirror in the not-too-distant future, but not addressing the homeless crisis will likely have the greatest future impact on Portland livability and the bottom line of our business.”

Eric has a competitive side that he feeds with his love of cycling and bike racing. He has loved bikes since he was a child and has been racing for the past 10 years. “I’m a die-hard cyclist and bike racer. I love carbon, clicky pedals, training, going fast, and Lycra (yep, I said it…I love Lycra). Cycling keeps my body fit and my mind sane. It feeds my competitive spirit and, unintentionally, is a huge part of my networking sphere. My relationship with my teammates and fellow cycling friends is based on trust and trust is the foundation of our profession so these things go hand in hand.”

The Hagstette family are water enthusiasts. If there is water, you will find them nearby or right in it! “My family loves the water. We have a floating home and spend the summer paddleboarding, kayaking, floating, boating, swimming, and fishing.”

As you would expect, with his strong social conscience Eric does not just think about the changes that need to take place. He helps facilitate the change. Annually, Inhabit Real Estate picks a charitable cause that focuses on alleviating homelessness, “We have thrown hammers for Habitat for Humanity, organized holiday toy drives, and collected much-needed essentials for homeless children and families. As a family, our focus is on Transition Projects. Every month for the last few years, we have prepared and served dinner and lunches at multiple locations that are focused on men, women, and families transitioning out of homelessness.” Eric also aids the community by coaching youth swimming and sponsoring free junior bike racing at The Portland Trophy Cup Cyclocross series.

In closing, we asked Eric if he would like to communicate anything additional to the readers of Portland Real Producers magazine. Without hesitation, he responded, “As a longtime Portlander, I’ve always held a special place in my heart for this amazing city. I am sure I am not alone when I say that Portland is at a very important crossroads. ‘Home’ is our business and we’re paid to sell the ‘Portland experience.’ ‘Home’ doesn’t just apply to our qualified buyers and sellers. It applies to all people occupying the space called Portland including those with the means to buy or rent real estate and those that are sleeping outside under tarps. We must realize that even though we only serve a portion of Portland residents, they all make up the community, whether they have a house or not. It is our duty as ‘real producers’ and leaders in our industry to help Portland through these growing pains. While the country seems to grow in divide, it is very important for us to come together to put Portland back on track to be the darling of the Northwest. As we buzz through town enjoying the fruits of this market, I encourage you to think more critically about the ‘in your face’ issues that are easy to turn a blind eye to: mental illness, drug addiction, systemic racism, climate change, and environmental destruction and affordable housing. Raise your voice and vote. We must demand more from our local leadership and lean hard on them to properly address these big issues which not only affect our profession but our lives as well.

 

 

Unlocking Trapped Equity

Did you know that your home can be an excellent source of funds? Tapping your home equity can be a low-cost way to borrow large sums at favorable interest rates in order to pay for home projects or debt consolidation. Home equity debt is not a good way to fund recreational expenses or routine monthly bills.

You’ll want to choose wisely how you utilize these funds, but given the incredibly low interest rates, now would be a perfect time to consider this option. Here are some of the most common ways to access the equity in your home: a Second Mortgage or Home Equity Loan, a Home Equity Line of Credit (HELOC), and a Cash-Out Refinance. Here’s a link to the differences between these options. The best option for you will depend on your financial situation and future plans.   

The smartest strategy for accessing your home equity really depends on what you want to do with the money. Some examples are: lump-sum expenses or debt consolidation; home improvements or starting a business; pay-off high interest loans or credit cards. These options can be extremely helpful for anyone saddled with unexpected financial challenges. Home equity debt can also be a good way to invest in the future. The key is to make sure that you are borrowing at the lowest possible interest rate. Rates are now at historic lows.  

A Cash-Out Refinance was a personal option for my wife and myself. As interest rates started to decline, we opted to refinance our first home, which we still own. We were able to pay off some credit card debt, and more importantly, we were able to use some as a down payment toward the purchase of a second home.  

If you’d like to learn more about what your current home value is and how to make it work for you, I’d love to be a resource for information or to connect you with a mortgage advisor to help you unlock some of the equity in your home.

Impressions of Home

Perhaps some of my fondest childhood memories are from our family home in La Cienega, a rural community just outside of Santa Fe, New Mexico. The home itself was a traditional adobe with a maze-like floor plan, flag-stone floors, creative built-ins and seven fireplaces! None of the fireplaces had dampers (= bad energy score!) and there was a cracked viga (traditional wooden beam) that worried us all … gotta tend to those home repairs! But what captured me most was the surrounding 2.5 acres and beyond. Running alongside the home was an irrigation canal filled with pollywogs and wild spearmint. Next to the canal an enormous cottonwood tree and treehouse with a perilous entry over a cliff. We had endless dirt hills for forts and Big Wheels and a creek where we’d build dams and go fishing. It was a truly magical place to grow up.

La Cienega, New Mexico • 3 bed 2 bath 7 fireplaces 3658 sq. ft. 2.5 acres.
This house was purchased for $43,500 in 1975. Now valued at $471,000.
The purported interest rate back then was near 9%.

My father once arranged for my sister and I to play Zoolander and model some clothes for a Japanese children’s fashion magazine called SESAME. The photographers chose our home as a backdrop for many of the photos. Below you can see the sketchy treehouse above the cliff and irrigation canal and an old claw-foot bathtub my parents eventually installed in another home. I don’t recall receiving any dough or threads for my hard work, and I can guarantee you I haven’t dressed this well since. Just glad they captured my happy mug!

 

Please feel free to reach out if you have any questions about what your home equity can do for you.

Ways to Support Our Black Community

Silence is Violence. That statement on a protester’s sign really hit home. By sitting on the sidelines and not voicing our collective outrage, we are perpetuating racism. Our greatest tool is our voices — not quietly commiserating, while keeping our mouths shut. We have the power to vote for the right leaders, raise children that celebrate differences, hire the right people and support our community’s Black and minority run businesses (to name just a few). 

I have compiled some of the many resources shared with me. Here are a few of the things we can do right now in our fight for social justice-

  1. Educate yourself on what challenges our Black family members face on a daily basis.  Here are a few resources worth exploring:
  1. Sign a Petition (DontShootPDX.org has also put together a list of other petitions and useful resources):

The Color of Change petition that asks Minneapolis Mayor Jacob Frey to block the involved police officers in the George Floyd case from receiving their pensions and from becoming police officers again.  You can also text “Floyd” to the number 55156.

  1. Donate to organizations like your local Black Lives Matter chapter. Other great organizations are:
  1. Support Black and minority run local businesses:

https://mercatuspdx.com/

https://blackpdx.com/

https://iloveblackfood.com/

 

Race and racism is a reality that so many of us grow up learning to just deal with. But if we ever hope to move past it, it can’t just be on people of color to deal with it. It’s up to all of us — Black, white, everyone — no matter how well-meaning we think we might be, to do the honest, uncomfortable work of rooting it out.

Michelle Obama

 

 

Something to Look Forward to this Summer in PDX

This is a blog post I have looked forward to writing!  It’s all about simple pleasures these days.  Sauvie Island, for most Portlanders, evokes a special feeling.  It’s a short 10 miles from downtown, but crossing the Sauvie Island bridge and seeing sprawling farmland crowned by the four cascade mountain view (yes, on clear days you can see the top of Mt. Rainier too)–makes you exhale immediately.  For some it’s biking, beach combing, fishing, kayaking or hiking, but the collective draw is the farms.  Picking berries, stone fruit and flowers, hayrides, summer concerts, sipping wine and beer while dining on food cart delicacies and leaving with food grown by hardworking local farmers.  Summer isn’t complete in Portland without a day on Sauvie Island.

This year I had the ultimate pleasure of helping very dear friends of mine realize their dream of owning a farm on Sauvie Island. It was a complicated and emotional transaction for all, but the end result was relieved and happy clients!  Kruger’s Farm is now owned by an amazing local Sauvie Island family and has been renamed Topaz Farm.  Kat and Jim are two of the smartest, hardworking people I know and their vision for the farm is going to blow your mind.  Think farm-to-plate brunches and dinners, sipping wine, beer, local coffee or strawberry rhubarb lemonade while shopping in the farm store that features their own produce, as well as other Sauvie Island and local products.  They have in-house chefs that create pasta, kale chips, pastries, pies, sandwiches, otter pops, etc., for the farm store using their produce.  They use organic farming practices and plan to be an educational farm.  They’ve partnered with the Sauvie Island Center to create camp and field trip opportunities for our schools.  They are creating a bee wheel garden (the first of its kind on the west coast) and have all kinds of plans for future enrichment programs.  They’ve accomplished all this just since they purchased the farm in January.  Can you imagine what the future holds?!!

Of course COVID-19 has changed a few things, but visiting a farm and getting outside isn’t one of them.  Don’t we all need a change of scenery!  There are some things that are on hold right now and Topaz Farm is following a very strict COVID-19 policy to keep their customers and employees safe.  Follow them on Instagram or Facebook to stay up-to-date on berry picking calendars, farm-to-plate dinners and possibly a creative summer concert series.

When you visit Topaz Farm you will likely meet the whole family.  Their daughters Maggie and Odessa work right alongside of their parents.  Kat’s brother, Peter is working tirelessly to build all sorts of new farm features (clever mobile farm store displays, new pens for the animals, etc).  I know they will be pleased to make your acquaintance (tell ‘em we sent ya!)

My wife and I had the pleasure of visiting the farm on opening day, May 27th.  Enjoy some of the photos from our visit.

       

 

Adventures in DIY Gardening

Every spring, most of us find ourselves taking on projects as we come out of hibernation. This spring, while a bit different, is allowing us more time at home to clean our closets, organize, train for a marathon, or…go a bit crazy in the yard. Let me take a moment to say that Portland has some of the finest gardens in the world. One of my friends from Seattle even called our city’s favorite pastime “competitive gardening”. Personally, I have a list of outside projects to keep the family busy for a long time. In order to re-motivate myself and hopefully inspire others, I am going to share my backyard story from last spring. Keep in mind that each paragraph below is a weekend or 2 of actual labor with 2-4 workers.

On a fine April morning in 2019, I decided to take my coffee outside and hang out in the backyard. To my horror, the months of showers brought a jungle of waist high weeds, growing out of what I had thought to be a mulchy, forest floor under a Doug Fir. One of the reasons my significant other and I had purchased the house was to have awesome outdoor space, and we knew it was going to take some time and effort. Here was our first big project! My sweetie took a quick look at the mess and decided to fast track the project (he’s a bit meticulous and likes to keep very busy). We had been discussing a Japanese garden for months, so he sketched out a design on our son’s graph paper, and I called my parents to let them know we could use their help (they are the true green thumbs. I am a rookie).

Our first stop was The Home Depot, to find something to outline our path through the garden and keep the rocks we would be bringing in out of the mulch. We chose black plastic edging, about 4.5 inches in height. A 60-foot roll of this is about $30, and we would need 3-4 of them. There were other attractive options, but this was the right price. Digging mini trenches for the edging was a bit of a workout. We found that dragging a hammer in the dirt helped “bulldoze” a bit of a path in which we could then partially bury the edging. We also grabbed a few rolls of weed barrier fabric to lay down on the path where the gravel would eventually be. This was a very good move. I cannot imagine how much more we would have to weed if we had not done so.

Now it was time for some of the planting fun! We chose a few beauties to be focal points in the garden, including a Japanese maple, weeping blue cedar, bonsai and a pink hydrangea and rhododendron. Additionally, we planted a handful of ferns and grasses in groups of 3. We are fans of not over planting and giving everything room to grow. These were purchased from multiple Eastside businesses including Portland Nursery, and Tony’s Garden Center. After a bit of deliberation on where to place the plants, the digging commenced.

With the plants in place, it was time to purchase mulch and rock. Lucky for us, fabulous Mount Scott Fuel is right up the street. If you have access to a pick-up truck you can avoid paying for delivery.  They will load the product right into the bed of your truck, saving you quite a bit of money. We did this and found it easy to shovel out of our truck directly into the wheelbarrow that we borrowed from our awesome neighbor. Ultimately, we bought 3 yards of mulch, and had to make multiple trips to do so. (Caution-Do not overload your vehicle. Check weight limits)! Prices range from $32-45/yard if you pick up, and $100-130 if delivered. The following weekend was a similar routine, this time to purchase 2 yards of river rock. There are many different types of rock here, and you can check out samples in the office, and go into their yard to look at the big piles and get a different perspective. We opted for what I would call medium sized for ¼-¾ inch river rock to minimize gravel being tracked into the house. Our choice was very reasonably priced at $40/yard. Delivery would have been $115 for one yard, with discounts for 2 plus yards. Hauling the rock to the backyard was a bit more strenuous than moving the mulch, so it was helpful to have our strong 14-year old son around.

One of our final tasks on the project was to produce our own concrete circles in the path. My partner had a bit of experience working with concrete from his previous house, and he was excited to put his cement mixer to use again. To create the large circles, he constructed molds out of fiberboard and we placed them in the empty path. Then the concrete was mixed and poured in multiple batches. We made the small circles off to the side and simply placed them in the path after they were dry, and then finished filling in the river rock.

We spent a lot of time outside last year, and with spring’s arrival we are planning this year’s project: raised beds and vegetables, perfect for homeschooling and saving money on groceries!

For a video tour of the garden, click here!

COVID-19 Update from Inhabit’s Owner

March 31, 2020

The coronavirus is impacting everyone and every business in some way and the real estate industry is no exception.  In many ways we are lucky because our shift to doing things virtually isn’t as big a leap as some businesses are facing.  As a matter of fact, for many years we’ve been able to handle most of the home buying and selling transactions electronically.  During the COVID-19 pandemic, Inhabit is committed to keeping the health and safety of our clients and agents at the forefront of everything we do.  Even before Governor Brown initiated Oregon’s shelter-in-place order, Inhabit launched our Couch Concierge service that brings the entire home buying and selling process to our clients.  Everything from virtual open houses, live video showings with our agents, to virtual contracts and closings.

Our listing clients shouldn’t worry about canceled open houses.  We will create a digital marketing campaign that brings your house to potential buyers all without risking anyone’s health or safety.  Our agents will tailor a showing plan that you feel the most comfortable with.

For our buyers, we are hosting live video tours.  Our agents will walk you through the property showing you every nook and cranny with honest feedback on quality or construction issues they see.  

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.

Yours in health and prosperity!

Eric

How Your Home Can Provide Stability

For those of us invested in the stock market, we’ve all been wondering if the historic run of this bull market was ever going to end.  No one, however, could have predicted the coronavirus or imagine its global impact. The next few months are still unwritten and as we brace ourselves for how far reaching the effects will be.  It’s unsettling for everyone. The stock market volatility is reminiscent of 2008, but the cause is totally different, and it will have different effects. A recent New York Times article titled Buying a Home During a Pandemic reflected on the 2008 market by saying, “Many real estate shoppers were trying to weigh multiple moving pieces back in late 2008. That crisis was different — the S&P 500 would ultimately lose half its value from its peak, and home prices cratered, too. That’s not the case this time (so far, at least). And what has happened since 2008 should provide us some comfort right now.”

The article also reflects on the stability of the housing market versus the instability of the rental market.  There is some piece of mind knowing that you can capitalize on historically low interest rates to lock in a monthly payment that won’t change.  This is making home ownership much more attractive than renting in many cases.  

The news around COVID-19 feels surreal right now with everything seemingly in a holding pattern, but the root cause of what’s driving Portland’s housing demand will not be affected in the long run.  Portland is one of the strongest real estate markets in the country. It’s during times of crisis that people take the time to reflect on what’s really important. The certainty of having a safe place to call home tops most lists.  Also, the push to create a stay-at-home economy makes where you live more important than ever. Companies may realize that having their employees work from home has some financial benefits. This could very well make a shift to more people getting to decide where they want to live.  Lifestyle is a major driver to Portland’s growth. Are we now poised more than ever to see accelerated growth? I don’t have a crystal ball, but I would be willing to make a bet that the net effect of what’s happening right now will make people pause and consider what’s really important in life.

We have a unique situation with interest rates at historic lows and Portland housing demand still high.  With all the stock market volatility, finding some stability with a large asset like homeownership should be a consideration.  Whatever is important to you, there are options. You can refinance to lock in a lower monthly payment. You can upgrade your home and with the low interest rates end up paying close to what you are now.  You can downsize to streamline your finances and put money away to safeguard yourself against any future volatility. If you are a renter, you can give yourself more certainty by purchasing a home, locking in a monthly payment and having piece of mind that your dollars are going towards an investment for your future.

Whatever is important to you, please know that my team at Inhabit Real Estate is here to help you navigate your decision-making process.  We pride ourselves on being advisors, not salespeople. Let us help you find a strategy that works in your best interest. We are all in this together!

Connecting to Your Home

The Consumer Electronic Show 2020 recently wrapped up in Las Vegas. There were the usual cast of characters, giant televisions, mini projectors, mobile devices, and more suitcases that follow you around than humanity will ever need. There is one section of the event hall that has been growing and growing over the years and that’s the “Smart Home” section. What used to be a quiet corner of self-cleaning ovens and refrigerators with water filters, has now flooded into a vast expanse across the showroom floor consisting of everything from smart vacuums to motion tracking light bulbs.

This multi-billion-dollar industry has just started to bud into your home life and I’d like to see if I can’t help explain some of the basics that you need to know.

So, what is a smart device? By now we all know Alexa and Siri. Essentially a smart device is all part of The Internet of Things or IoT as it’s known. IoT is the interconnected network of objects like your phone talking with your microwave.

Smart devices can be super futuristic devices like retinal tracking door locks, to the most mundane toothbrush that tells you when to replace it.

Instead of going over every device out there, I want to focus on the basic ecosystems these devices work in and touch on the specific devices you can place in your home today!

Right now, in the Smart Home / Smart Assistant game there are really only 2 players, Google and Amazon. Apple is trying very hard and so is Microsoft, but as of now, they are failing to make a mark. There are also more than a handful of independent providers out there including Samsung’s own Bixby network, but again, those aren’t really considered contenders. 

Today Google’s “Google Assistant” and Amazon’s “Alexa Assistant” work with the lion’s share of smart devices out there. 

Google Home Speaker

One of the most popular devices on the market is the Ring system. If you don’t know, Ring is a doorbell that feeds live video to the IoT. Ring isn’t Google nor Amazon, but rather third-party hardware that works seamlessly with both. Most non-proprietary hardware will work with both Amazon and Google, as well as Apple, in the case of Ring. 

Since these devices are mostly available on both major ecosystems, the real question is “which ecosystem should you want to buy into?” 

Let’s get one thing straight, Google and Amazon make way more money selling your data than they ever will selling you devices or services so understanding what they’re doing with that data is vital. The biggest difference between Amazon and Google is what they do with your data. 

Let’s start with Amazon’s Alexa. Alexa is always listening, always! Amazon then uses AI learning to analyze what you want. Are you talking about needing new shoes or are you issuing a command? Amazon whistleblowers have even admitted that Amazon has live people that will analyze certain recordings that the AI struggled with. Amazon then discards the recordings. Because of this, Alexa is typically extremely responsive and users often comment on its speed and accuracy. 

Amazon Echo Dot Speaker

Google, on the other hand, only records once it hears a “hot word” like OK Google or Hey BooBoo (a little Easter egg for you Google users out there). That is then analyzed and hopefully your device does what you’ve asked. Google is then storing those recordings for now in hopes that once it’s AI has evolved enough it can be unleashed on all these recordings, but for now it sits on server farms in Arizona and Alabama.

If privacy is important to you, and the idea that Papa Bezos is listening to your musings about window coverings bothers you, then go Google. If you just want things to work every time regardless of the privacy you’re giving up, then go Amazon. 

Since it doesn’t really matter if you go Amazon or Google, where should you start? The first step would be getting a smart speaker like the Alexa speaker or the Google Home Speaker. If you are an Android user, you already have Google assistant in your pocket and don’t need a home speaker. There is an Amazon app where you can control your Alexa devices though a mobile device as well. The next step is to see what you’d like connected. Home doorbells, hue lights, and video monitoring are always a great start. Most of these devices are modular and often have a pretty low cost of entry. Remember it’s more about the data for these companies, so these products are usually <$200. Installation is often intuitive and it’s important to these companies and the consumer that these devices can be installed without a contractor or handy person. 

Nest Thermostat

What’s great too is when you’re ready to move, whether you rent or buy, these systems can come with you. Just remember to keep the old hardware.

We are starting to see built in wall/trim sensors and more built-in systems, but this tech geek Realtor would suggest perhaps avoiding those. Some of us remember those built-in intercoms that were all over 60s and 70s homes. It’s not that wall sensors won’t take off, it’s just way too early to embed such a virgin technology into a home. 

So go for it! With a low cost of entry and the fact that most of us already have assistants in our pockets, there’s really no harm to giving these a try, except perhaps to your privacy.

If you are interested in working with someone who understands what to look for in smart home technology for your future home, reach out, I love talking tech!

2020 PDX Real Estate Outlook from Inhabit’s Owner Eric Hagstette

Settle in as Eric Pulls Back the Curtain on 2020 Portland Real Estate

And just like that, it’s February 2020. If someone asked you when you were a kid what you thought 2020 would look like, did you picture this? I visualized space travel, robots, flying cars, lasers and futuristic stuff…not this everyday adulty life gig.

So where the heck did January go? To be honest, the reason my annual market outlook is so delayed is because this January was super busy for the Portland market. Now that I think about it, we were even selling houses right through the holidays as well. Portland may be experiencing growing pains, but the real estate market is alive and flourishing.

Last Year’s Prediction: Nailed it! 

A year ago, I was calling for our buyers and investor clients to get into the market. It was a year of opportunity for our buyer clients after many years of seller-favored, tight inventory conditions. For the first time in a long while, buyers enjoyed shopping the market without urgency & pressure, having more than one house to choose from, price drops, seller incentives, and contingent offers. How sweet it was! Instead of calling it a buyer’s market or a seller’s market, we called it a “broker’s market” as we could make both sides happy by creating win/win transactions for our clients. We could place our buyers in homes without real estate “whiplash” and our sellers were walking away from the closing table with a smile on their face excited to move on in the market. It was a unique time. Everyone was pretty happy. I hope that you or someone you know took advantage of it. 

2020 Current Conditions

The Portland market has always been nimble and this year is no exception. It changed quickly! Midway through  Q4 of 2019, Portland inventory started to dwindle down. Furthermore, most sellers don’t list during the winter and holiday months, so market inventory continued to fall. Despite the BRUTAL Portland weather this winter, the buyers came out of the holidays with a big appetite and gobbled up what was left on the market. The close in Portland neighborhoods currently sit at 1.3 months of housing inventory (in the 450k-700k range).  So the 2020 cycle begins with a fiery combination of low housing inventory, great interest rates, a seemingly healthy economy (with many new jobs coming to Portland) and a rapid erosion of affordability (this pushes buyers further from town to seek more affordable options). The market is behaving accordingly in response to high demand. Demand is being driven to Portland by a combination of reasons: jobs/economy, lifestyle, climate & natural resources, and an affordable option for many West Coast transplants. 

2020 Outlook

Welp….it’s an election year which has a tendency to slow the market. Buyers and sellers that aren’t being pushed into the market tend to sit tight through election times out of fear of the unknown. However, the upcoming election doesn’t seem to be having an impact on the market…yet.  Portland shows resilience when other markets slow. When things have slowed for us in the past, we bounce back quickly (including the recession). Thanks to our urban growth boundary and natural geographic barriers, we don’t have sprawl which has been a saving grace for our unique market. Portland offers jobs plus lifestyle and attracts a wide demographic spectrum of folks looking to call Portland home.  Pair this with a mild climate and abundant natural resources and you have a winner. Therefore, I predict 2020 will continue its low-inventory trend which favor sellers, drives prices and frustrates buyers. We have to be careful with the “drives prices” part though.  Affordability is a major concern. The chasm between the cost of Portland real estate and our median household income seems to be growing. Jobs are coming but wages haven’t caught up and the cost of living keeps climbing. This pushes buyers to outlier markets (Vancouver, Milwaukie, Beaverton, Oregon City, etc). For the urbanites that don’t want to pay for the high priced houses but want to stay in town, they’ll drive demand in the ‘attached’ market (townhouses/condos) which had a slow 2019. This will stabilize pricing in the attached market. Properly priced, well-presented, detached houses from the $200k to $1m range will continue to fly off the shelf. The $1m-$1.5m market is a ‘move up’ market for many wanting to upgrade from their existing home .  This market presents opportunities for buyers to make a great purchase; however, tapping their “trapped equity” from their existing home in order to make this purchase can present challenges (certainly not insurmountable but can be daunting to the client). In surprising fashion, Portland’s upper end market ($1.5m +) is moving at a pace you may find interesting (fast). Of course, these properties need to deliver the full package to fetch the price, but this market segment seems very confident in Portland as a place to make these big purchases. I find these big numbers surprising as I clearly remember how freaked out I was when I bought my first house in Mt. Tabor for $185k. However, like many other places, we are bursting at the seams. The numbers for incoming population growth are staggering which in real estate economics translates to demand. Portland is in high demand which has all but diminished the lower end of the market and made it feel normal to buy and sell very expensive real estate. 

Natural disaster or other non-natural market forces aside, Portland real estate has a very promising future and has always been well-insulated. With all this said, if our local government doesn’t figure out a way to better manage our addiction/mental health/homelessness crisis, Portland may lose its reputation as the “darling” of the Pacific Northwest and no matter how great this city is, many people will choose different markets to call home. Rainy weather is tolerable but corruption and greed are inexcusable especially with what it costs to live here. 

2020 Buzz Words & New Concepts 

iBuyer: Also known as institutional buyers or residential REIT (real estate investment trust): Have you heard the OpenDoor commercials on the radio? iBuyer or ‘instant offer’ is easily the biggest new disruptor in real estate and Inhabit is all over it. iBuyers have come into the market backed by billions of venture capital funds and are buying up real estate that fits in their “buy box”. Homeowners that qualify for an instant offer (and choose to take it), are typically taking a discounted price for the convenience and avoiding the traditional selling route.  As a student of change, I became very intrigued with iBuyer and became certified as an iRep Professional. Our philosophy with iBuyer is “pro-consumer choice”…what works best for our clients. iBuyers are real in today’s market and we want to share all of the options with our clients so they get the most out of their real estate assets. It works for some clients and we can show you how. 

Trapped equity: Many homeowners who have owned their real estate for 5 + years are sitting on a decent amount of equity that is trapped in their real estate. In a tight market, trapped equity can add challenges to a buyer that wants to move up or move down within the market. We’ve found that many people will simply opt out of moving around in the market simply because of the perceived risks and challenges with using the equity in your home to help achieve the daunting buy/sell or sell/buy. There are more layers, but we manage these all the time. In the end, our clients say that it’s worth the effort. 

Concierge real estate services: It is more important than ever for real estate professionals to be a trusted advisor not only throughout the sale, but on an ongoing basis after the sale. Realtors are on the front line of clients’ needs as a sale closes. Concierge real estate service continues after closing where Realtors continue to provide useful resources, information and advice on an ongoing basis. In today’s demanding and competitive market, we are reinforcing our value by continuing to support our clients on all things real estate. 

Final Words

Even though we’re not living in the Jetson-like society that I envisioned as a kid, 2020 is chock full of new and exciting stuff: self-parking, electric cars, virtual reality, and an impressive (and concerning) amount of technology & connectivity. At the push of a button, you can have almost anything you want delivered to your doorstep within hours.  Heck, you can push a button and order up a random Realtor to open up a house for you (but how dare you do that!). Real estate is no exception to the expectation of today’s “now society”. As professionals, our response time must be faster, our knowledge deeper and our ability to navigate this market must be sharp and focused. One thing that technology can’t change, is the human factor that is necessary to create happy buyers and happy sellers in real estate transactions. This is our wheelhouse. We embrace today’s disruptions & technology and use them as tools to enhance our clients’ position and experience; however, we feel more strongly than ever that real estate is a people business and we are here to stay. 

Thank you for your continued support and trust. Here’s to a prosperous 2020!

Eric

Portland Neighborhoods: Peacock Lane

One of the things I loved most about Portland when I first came here in 2006 was that there were no crowds. I mean anywhere. 

You could park right in front of a movie theater five minutes before the show started and by the way, you didn’t have to feed a meter or anything. 

So I moved here. Along with, like, 47,000 other people. 

And like most of them –– and all of the people who were here before I got here –– I like to complain about how crowded it’s become. 

Which it has, but let’s be honest, it’s still nothing like LA or New York. With a few notable exceptions, one of them being Peacock Lane the week before Christmas.

So Portland.

Peacock Lane is Southeast 40th Avenue between Belmont and Stark, which makes it about four blocks long, but since there are no cross streets on SE 40th between Belmont and Stark, it’s really just a lonnnnnnnnng block. 

48 weeks out of the year, there’s nothing particularly remarkable about Peacock Lane. It’s just another street with really pretty houses, walking distance to Belmont, Hawthorne, Laurelhurst Park, Mt. Tabor, and Division. 

This house is a block away. It’s like, “Why do I even try?”

What makes this block special is that the houses on that block go all out with their Christmas decorations. And I mean all out. It’s a tradition that started back to the 1920s and there are a couple of things that make it so very Portland. 

In real estate, we deal with Covenants, which are things you’re required to do if you buy a place. And you would think, especially since Peacock Lane is on the US National Register of Historic Places, that there’d be a covenant that makes you decorate your house for Christmas if you live there. But no. People move there because they want to decorate. Nobody tells you that you have to.

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…

No longer Immortal …

If it’s a cocktail emergency, you’re staggering distance from several good spots, including the Aalto Lounge, where their happy hour is the stuff of legend. From 5:00 to 7:00 you can get a grilled cheese sandwich and a cup of tomato soup for $3! On the way there, you’ll pass a Stumptown Coffee and a Tao of Tea, so pretty much, it’s a neighborhood with everything. 

Best of all is Movie Madness, the neighborhood video store. And yes, there’s still a neighborhood with a neighborhood video store, but calling Movie Madness a video store is like calling the Louvre a building with some nice paintings inside. 

Movie Madness has a more extensive collection of arcane cinema than any of the places I used to frequent when I was working as a director in New York or LA. They break things down not just by genre and director, but also country and style. You want to binge French caper films from the 1970s? They can totally hook you up. 

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?”

Great question. 

It’s a tough comparison to make because in the past three years, only four houses on Peacock Lane were sold. Those sales took six times as long to close, but the houses went for about 15% more per square foot than houses in the immediately surrounding area. 

What that says to me is that Peacock Lane is a neighborhood for a special kind of person. But that person is willing to pay more in order to get to live there. 

Got any other real estate (or film) questions? I’m at 310-854-2458.

 

Portland Neighborhoods: Foster/Powell

See? People are happy here.

You know me. I love pizza. So it should come as no surprise that I love Foster-Powell.

I mean, just look at it on a map. It looks like a slice of pizza!

Yeah. I know. Tenuous. But check this out! Two of the finest pizzerias in all of Portland are in the neighborhood –Char and Pizzeria Otto (which just opened its second location at SE 72nd and Foster). Char is awesome not just because the pizza is amazeballs, but also because the people are super nice and they name the pizzas on the menu after their cats. How Portland is that? And Otto is awesome because the pizzas are wood-fired deliciousness! It’s going to be fun to see these two duke it out.

(I should probably also mention Assembly Brewing, where they make a damn fine pizza in the Detroit style. The only reason I didn’t put it up there with those other two is because honestly, I’ve only had Detroit style pizza at Assembly Brewing and who knows? Maybe you people who actually know what a Detroit pizza is supposed to taste like would consider it an abomination.)

Two — maybe three —awesome pizzerias would make a neighborhood special in just about any other city that’s not in Italy. Let’s be honest, in Portland, it’s barely notable. Portland has more amazing pizza places than anywhere I’ve ever been.

So let’s forget about pizza. Let’s talk about what makes FoPo special.

Hey look! An old car!

FoPo is unusual in a Portland neighborhood way in that there’s no central village. It’s bordered on the south by SE Foster and on the north by sE Powell. You’re super smart so you probably already figured out that that’s how it got its name. The border on the east is SE 82nd, or as I like to think of it, The Crust, because let’s be honest, that’s kind what it is.

They keep trying to turn SE 82nd into something it isn’t, meaning to draw your attention away from the auto parts stores and motels and to get you to notice the …um …what? Carpet stores and fast food chains?

The most recent effort was to rebrand SE 82nd as The Jade District, which sort of makes sense. There’s a disproportionate number of Asian businesses on 82nd, places where you can get fantastic dim sum, pho, bahn mi, even groceries they don’t carry at Freddy’s or Safeway. In amongst them you’ll find a fish market, hispanic restaurants, fast food places, and other stuff. But it’s a busy street — a highway, even — so it gets no charm points like Woodstock or Gladstone.

Foster and Powell are slightly less busy than 82nd, but they’re still busy thoroughfares, which make FoPo kind of an island in a swirling sea of commuters. And appropriate to its island-in-the-swirling-sea metaphor, it just might be the best place in Portland to buy fish and seafood. You can get better live lobster cheaper at the no-frills Asian seafood places on Powell than at the fancy-schmancy grocery stores. And unlike the fish markets where they splay dead fish on ice, how awesome is it to make eye contact with your dinner as it swims around in its tank?

On the other hand, at the very tip of the pizza slice, where Foster and Powell intersect, is a Burger King. That feels meaningful, somehow.

There’s a strip of Foster that’s starting to develop a cool vibe, between SE 60th and SE 72nd. You’ve got a tango hall (not making this up — this is Portland) the requisite tattoo parlor, a vegan burger place, a neighborhood grocery, a bagel place where they actually boil their bagels the old fashioned way, and some neat bars.

That having been said, there’s an “elegant” furniture store that I swear, I’ve driven by at least once a day for years and I’ve never seen a single person come in our out, plus no shortage of strip clubs, plumbing supply stores, pot dispensaries, places to buy granite countertops, and body shops. You can even buy gravel and mulch by the truckload and satisfy all your taxidermy needs almost right across the street from a gun shop.

So %$#*! Portland, right?

The neighborhood is unusual in another way. It’s mostly houses. You’d be hard pressed to find a fancy-schmancy condo development in Foster Powell and that gives the neighborhood (or let the neighborhood retain a cozy, family-oriented vibe.

You could probably get $1,200 a month for that tree house.

Of course, there are families and there are families. The houses in that pizza slice-shaped triangle are kind of cottage-y. They were built for the most part in the 1920’s. 1930’s, and 1940’s as housing for lower middle class workers. Compared to the classic Portland four-squares that dominate (or used to dominate), say, Clinton and Division, here you’ll find houses that are smaller and less photogenic.

Totally Mary Ann.

I happen to think that’s a good thing. Sticking with that island thing I set up way back in the 10th paragraph, the houses here are like Mary Ann to Gilligan’s Ginger, if you’re old enough to get that reference. They’re pretty, approachable, sensible homes and as a result, the families that make up the population have a tendency to feel kind of the same. Well, I don’t know about pretty. But definitely approachable and sensible. In a city famous for not showing off, foster Powell makes other neighborhoods look like they’re elbowing each other out to hop the spotlight.

What’s ironic is that FoPo has become kind of a darling of Portland real estate. The recently discovered undiscovered gem, so home prices there have gone up a lot and people are moving in because it’s the place to be a little more than because it’s the place they want to be. According to The Portland Business Journal, the median home price is not $399,000 and what’s even more impressive, the average home sold in the past year was on the market for 12 days.

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 …

Pizza.

 

Is There a Season to be Grateful?

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. Robert Emmons Ph.D. is a leading scientific expert on gratitude. Here are just a few of his findings:

Physical
• Stronger immune systems
• Less bothered by aches and pains
• Lower blood pressure
• Exercise more and take better care of their health
• Sleep longer and feel more refreshed upon waking

Psychological
• Higher levels of positive emotions
• More alert, alive, and awake
• More joy and pleasure
• More optimism and happiness

Social
• More helpful, generous, and compassionate
• More forgiving
• More outgoing
• Feel less lonely and isolated.

Dr. Emmons explains that gratitude has two components. First, it helps us affirm goodness in this world and recognize the gifts and benefits we’ve received. Even though life isn’t perfect, gratitude helps us identify some amount of goodness in our lives. The second part of gratitude is realizing the source is outside of us. True gratitude goes against a self-serving bias. When we are grateful, we understand that it’s other people that help us achieve the goodness in our lives.

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.

So how do we get away from the “season” of gratitude and truly live it year-round? If you want to move past just feeling occasionally grateful to becoming a more grateful person, here are some daily practices you can incorporate:

  • Keep a gratitude journal. This can be as simple as listing 3 things you are grateful for every day, or you can use something more formal like The Five-Minute Journal that has morning question prompts and evening reflection questions. It was given to me as a gift at a very pivotal time in my life and it has been invaluable to me ever since.
  • If you don’t want to write things down, pick a time (first thing in the morning or at bedtime) to simply count your blessings. If you eat dinner with your partner, children, friend, etc. get in the habit of going around the table and each listing something you are grateful for today. It was our tradition at Thanksgiving, but now we do it all the time. It’s really fun to hear the simplest things that people are grateful for.
  • If you have children and want to help instill the importance of gratitude, you can do a variety of things. Volunteer as a family at a non-profit that makes you feel good. We serve dinner together as a family every month at one of the Transition Projects shelters dedicated to helping people transition off the streets. You can also start a gratitude jar at home that you put your spare change into every day. The idea is that the act prompts you to talk about what you are grateful for. When the jar is full you can donate it to a needy person or cause.

Personally, I have so much to be grateful for:   a warm home, supportive and loving family, a reliable car, access to good food and healthcare, a thriving business, friends, clients and colleagues that infuse so much joy in my life… the list goes on and on. As we enter this season of Thanksgiving, let it be a great time to remind us the importance of practicing gratitude daily.

Happy Times / Sad Times

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.

That having been said, it’s tremendously rewarding (and I don’t mean financially) to help people navigate a confusing, stressful process. What’s interesting is that the times that people rely on me are generally either extremely happy or extremely sad.

The happy ones are fun. A couple is getting married and wants to settle into their first home. A professional just got a job opportunity that requires her to move to Portland. Parents decide to give their kids four acres of backyard wilderness to play in.

But it’s the sad ones that make you feel the best about what you do.

Last year I sold a house for a neighbor and friend who was (and is) experiencing early onset dementia. Another listing I had was for the family of another neighbor who had passed away. A third was for a friend of a friend who, already confined to a wheelchair, had been diagnosed with terminal cancer.

Trying times. The pain that comes with these transitions is only amplified by fickle buyers, home values that don’t jibe with the optimistic projections of Zillow and Redfin, repairs that need to be made, and the myriad documents that need to be understood and signed.

It’s not enough to protect my clients. I need to make sure my clients feel protected.

I used to work for multinational corporations, creating marketing and advertising on a global scale. I did some really good work. I solved complex problems in (if I say so myself) some extraordinary ways.

After one particularly difficult project that resulted in a huge victory for a global financial services company, I had a realization: Corporations can’t be happy. They can only be profitable.

People, though. People can be happy.

That’s what got me into real estate. I like making people happy.

My client in the wheelchair repeatedly called me a lifesaver. I wasn’t. She passed away anyway, much too early. And my friend and neighbor with dementia, when I call her now to check in, often can’t remember who I am.

I’m at peace with that. Like I said, what we do is help people do something they’re going to do anyway. And that other thing they’re going to do anyway? Well, it’s a lot bigger than just buying or selling a house.

 

Portland Neighborhoods: Clinton

Remember Manhattan back in the 40’s and 50’s, when you could walk a block and go from one neighborhood to another one that was totally distinct?

Me neither.

But I’ve heard stories. And when I used to live there, you could still find vestiges – little reminders that the German neighborhood you were in butted right up against the Italian neighborhood a couple of streets over.

Who needs a gallery? Put your art on a fence ….
….on a telephone pole ….
….even on your house.

Portland has a lot of that. More subtle than in New York, but places where there’s a real difference in the personalities between two areas. Colonial Heights is different from Ladd’s Addition. NW 21st is different from NW 23rd. Hawthorne is different from Belmont, which is different from Stark, which is different from Burnside. And Clinton is different from Division.

“The Rocky Horror Picture Show” plays every Saturday night. Not making this up.

I’ve already gone on about Division (click here to reread my extremely informative and even vaguely accurate post), but to recap: 1) Freeway, 2) no freeway, 3) hippies, 4) fancy restaurants, 5) hipsters.

Clinton is a block away, but where Division was originally kind of an industrial cut through, Clinton began life totally residential. So even though the same hippies bought houses in both Clinton and Division for pennies on the dollar when the government abandoned its plan to build a freeway into downtown, neighborhood stuff got (and gets) emphasized on Clinton a lot more. To the point that today, cars get to drive on division; bikes own Clinton.

Clinton is what the city calls a Designated Bike Boulevard, which is defined as “low-volume and low-speed streets that have been optimized for bicycle travel through treatments such as traffic calming and traffic reduction, signage and pavement markings, and intersection crossing treatment.” Clinton has speed bumps, signs, DUI catchers (little roundabouts in intersections), even special street signs with cute little bikes on top – all that and more. In fact, just try to drive a car down the street. You can’t. There are spot where cars are actually forced to turn off.

When old homes are torn down in Clinton, they’re usually replaced by new homes. On Division – and did I mention that Division is seriously only a block away? – when old homes get torn down they’re usually replaced by multi unit housing.

I haven’t actually been to this place yet. We should go.

Like most of the neighborhoods in Portland, Clinton is its own little village. In and just off of the stretch between SE 20th and SE 26th you’ve got your pizza place (Hammy’s), a breakfast place (Off the Waffle), a diner (Dots, which is surprisingly good), an artsy brasserie (La Moule), another artsy brasserie (Jacqueline), and a kajillion other places to eat and drink and watch the parade of bike commuters on their way to and from work. There’s a fancy grocery store (New Seasons, which is really on Division, but like I said, a block away, and actually more connected to Clinton), and a food co-op (People’s Food Co-Op on SE 21st and Tibbetts).

You also have two optometrists, a boutique that sells kid stuff …even two real estate offices.

Which you really don’t need to bother with. I mean, you have me, right?

For a complete Portland bike map, click here.

 

 

 

 

The Importance of Being Extraordinary

In today’s fast-paced world, we can all be looking for ways to stand out and be extraordinary for our clients no matter what field we are in. “Extraordinary” comes from the Latin Extra Ordinem, meaning “outside of the ordinary.”

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?

Let’s face it, in today’s technology driven world, connecting immediately with someone new is easy. But how can we stand out? How can we be markedly distinctive in our career and relationships?

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!