Tag: Eric Hagstette
What in the World is Really Happening in the Real Estate Market?
Watch the video here or read the transcription below (with some edits for clarity)
What’s up everybody and thanks for joining me for this week’s market minute. Now, somehow we found ourselves in 2023 and how we got here I have no idea, but the market is just cruising right along. I’m here to bring clarification to the number one question we’ve been getting from our buyers, our sellers, and those sitting on the sidelines — what in the world is going on in the market out there? We’re getting tons of varying market information ranging from multiple offers, bidding wars, hot market activity, and conversely, price reductions and no market activity. So I can totally imagine how this conflicting information would be confusing to the layperson who’s trying to make sense of the market.
So here’s my rundown. The market is changing on a week-to-week basis. It’s very important to pay close attention and rely on a professional to navigate these waters for you. The feds are manipulating interest rates, not mortgage interest rates, but the federal interest rates have a lot of the people watching the news concerned about what’s going on out there. Now, while mortgage interest rates are volatile, we’re still creating wins every week for our buyers and sellers. How? you ask. Well number one, our buyers are showing fortitude and sometimes patience as they navigate the market and trust us to use buying tools such as rate buy downs, closing cost credits, concessions, and other negotiations that we haven’t seen others using. And for our sellers, it gets even easier because we still have a low inventory market and so we’re focusing on the basics of listing real estate based on price, condition, and access. If you give us those three or as many of those three as you can, we’re going to create great results for you in the market.
So my lesson to you today is that sidelining can actually cost you money. How? Well, if we all waited for a “hot market” we would all be stymied and frustrated with tight market conditions once again. So if you’re taking yourself off the sidelines in an opportunistic market like today, you may be narrowing your chances of homeownership or making the move that you want in a market that can afford you to move up or down. Now I realize that many of you have low-interest rates locked in. Actually, 65% of homeowners in America are locked in under 3% so we realize the bottleneck that this creates. However, once we move through that and once the market starts easing up we’re all going to be able to move around a little bit better and take advantage of these conditions. So please don’t wait until the market is good because when it’s good for someone it’s usually not good for this other person. Your unique real estate goals and needs are specific to you, not the market. In general, I promise we have a solution just for you. It’s never too early just to call and talk shop. Thanks for reading or listening and I’ll see you on the next one.
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.
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
Eric’s Clients Featured on apartmenttherapy.com
A few years ago Eric helped Jason and Eva purchase their first home, a perfect little craftsman bungalow in the Mt. Tabor neighborhood. Eva and Jason have nestled in over the past few years, making their house their home and apartmentherapy.com was there to feature it.
Eric is thrilled to have such happy inhabiters. Check out the feature here.
The windows are going in at Richmond Commons
The condominiums at 50th and SE Tibbetts are really taking shape.
For more information about the Richmond Commons condominiums at SE 50th and Tibbetts, contact Eric Hagstette. 503-313-6476 | eric@inhabitre.com
Richmond Commons breaks ground
Ground has been broken, foundations are being laid, and soon, 12 townhouse style condominiums and their inhabiters will call the corner of SE 50th and Tibbetts home. Stay tuned for continuous updates.
