Well, it would be an exaggeration to say Zillow is the bane of my existence, but it’s kinda true! Sometimes their Zestimates are high, sometimes they’re low, and sometimes they get it right. Pretty reliable, huh?

Here are a few things that come into play:

• Zillow has never been in your house. They don’t know if you just spent $100,000 on a kitchen remodel, have the original kitchen, or did a little sprucing with paint and formica.
• They pull some of their data from the tax records which are often inaccurate. So, they might not only have the wrong amount of square footage BUT again, they haven’t been in your house so is the basement finished or a leaky mess with low ceilings??
• I recently had a client whose Zestimate was more than $200,000 over what the house actually sold for in this really hot market. Also, I recently sold a wee little house for more than $40,000 over the Zestimate.

So what does all that mean? Zillow definitely serves a purpose, but that being said, I would never take their word for what a house is worth, and you shouldn’t either. If you want to know more, you should talk to a real estate agent that comes to your home and compares it to current comparable houses in your neighborhood. That is my job, and I would like you to call me, of course.

As I’m sure you know 2017 brought us new tax laws. If there has ever been a time that you want to talk to your tax consultant preemptively it is now. Of course everyone’s tax situation is different but a couple things that affect real estate are:

1. The final tax bill has a limit on deductible mortgage debt of $750,000 for new loans taken out after 12/14/2017.
2. The final tax bill allows an itemized deduction of up to $10,000 for the total of state and local property taxes and income or sales taxes. The limit applies for both single and married filers.

Again, be sure talk to your tax preparer so you understand how the changes affect you!!

I have mentioned that as of the first of 2018 the City of Portland is requiring that you have a Home Energy Audit prior to putting your house on the market. I decided to have an audit done on our house to be more familiar with how the process works.

The scoring system is from 1 – 10 with 10 being the best. If you live in an older home, especially if it is large, the likelihood of getting a score over 4 is probably low.

The cost seems to be in a range of $150 – $300 depending on the size of the house and the company you use; and, it will probably take between 45-90 minutes.

IF you have done any upgrades such as: insulation, new furnace, water heater, new windows it is helpful to let them know upfront. Also, for instance, if it’s something they can’t see – like insulation – having a receipt to substantiate it could be necessary. Additionally, they will suggest some things that you might do to increase your energy score.

IF you are thinking about selling your house OR would just like to have one done for your own edification, give me a call. I am certainly no expert, but we can talk it through, and I can help point you in the right direction!! By the way, we got a 5 and are making a few of the inexpensive changes they suggested!!

RMLS’s latest Market Action is out!

Interested in the latest real estate stats in Portland? Last month’s numbers are in. Click HERE.

I would love to hear from you! Send me an email or give me a call, and let’s chat!

One of the very best parts of my job is visiting people that I helped find a home. Not only do I get to catch up with what they’re doing and find out how much they love their house – I get to see what they’ve done to the house to make it home.

In this case, my buyer bought their house in 2013 and completely redid the kitchen and bathroom. They didn’t stop there; the next project was gutting the upstairs and transforming a large, modest bedroom into a fabulous master suite. The entire space is custom including the cabinetry in the bathroom and bedroom. Now, instead of just a bedroom there is a deluxe bathroom, built-in desk and cabinets and a skylight. In addition to how much this adds to the livability of the home it was a very wise investment.

BEFORE:
 
AFTER:
 

Market Activity

According to RMLS’s latest Market Action report, “the Portland metro area saw mixed numbers this December, but new listings made gains compared to December 2016.” What are you seeing out there?

Interested in the latest real estate stats in Portland? Last month’s numbers are in. Click HERE.

I would love to hear from you! Send me an email or give me a call, and let’s chat!

Matthew Gardner, Windermere’s Chief Economist, recently completed his national housing forecast which details his predictions for the 2018 housing market, and here’s what he has to say:

Wondering what this means for you? Give me a call.

Market Activity

For the latest stats in Portland real estate click HERE. Looking for another area? Contact me, and I’d be happy to look it up for you.

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