PDX Realty Solutions

Made a power red donation today, that makes 7 units of blood donated this year. The Red Cross makes donating very easy, even with a crazy schedule!

This Saturday 8/5 l’ll be holding this lovely Burlingame split level open from 12:30-2:30. Stop by or make a day of it like we did last weekend! My wife took our boys to Fulton Park, Grand Central Bakery, and Gabriel Park while I held this beautifully updated home open last week. Then afterward we toasted 🍻 at Sasquatch Brewery. All less than two miles away!

Took a break in between showings to hit the archery range and was surprised to see who else showed up for target practice! 🦌 🎯 🏹

Nothing like a great weekend spent camping with the fam to fuel the work week!

Uncle Garrett + Wesley + 🎈 = Big time fun 🤩 Future showing assistant ?? 😍

These Elevated Halloween Decorations Can Be Repurposed Year-Round It’s as if a haunted house got an extreme home makeover.

The financial benefits of buying a home versus renting one are always up for debate. However, one element of the equation is often ignored – the ability to build wealth as a homeowner.

An increase in equity builds the wealth of the individual that owns it. This wealth can be passed down to future generations. National Association of Realtors research reveals that the average gain for homeowners over the last five years was $139,134 and over the last 10 years was $218,505.

Homeownership builds household wealth which also enables households to more easily move to the home of their dreams.

If you missed out on the equity gains over the last 30 years, don’t fret. Experts are still calling for substantial growth in equity over the next five years. The most recent Home Price Expectation Survey, a survey of over one hundred economists, real estate experts, and investment and market strategists, expects home values (and therefore equity) to increase as follows:

>> 2021: 11.74%
>> 2022: 5.82%
>> 2023: 3.94%
>> 2024: 3.56%
>> 2025: 3.55%

The survey estimates a 31.8% cumulative appreciation over the next five years. Using their annual projections, the graph below shows the equity build-up a purchaser could earn, using a $350,000 home as an example:

That’s a potential increase in household wealth of $111,285 over five years.

If you want to learn more, DM me. Owning a home is one of the best ways to grow your wealth over time. House wealth can impact generations. In many cases, the largest single investment a household has is their home. As that investment appreciates in value, the financial options also increase.

We are so honored to have Garrett Conn on our team, and have him bring his talent & experience to help our buyers in this competitive market!

Experts across the industry agree – today’s low rates present buyers with an incredible opportunity. Here’s what they have to say:

Sam Khater, Chief Economist at Freddie Mac, points out the historic nature of today’s rates:
“As the economy works to get back to its pre-pandemic self, and the fight against COVID-19 variants unfolds, owners and buyers continue to benefit from some of the lowest mortgage rates of all-time.”

Mark Fleming, Chief Economist at First American, talks about how rates impact a buyer’s bottom line:
“Mortgage rates are generally the same across the country, so a decline in mortgage rates boosts affordability equally in each market.”

Danielle Hale, Chief Economist at realtor.com, also notes the significance of today’s low rates and urges buyers to carefully consider their timing:
“Those who haven’t yet taken advantage of low rates to buy a home or refinance still have the opportunity to do so this summer.”
Hale goes on to say that buyers who don’t act soon could see higher rates in the coming months, negatively impacting their purchasing power:
“We expect mortgage rates to fluctuate near historic lows through the summer before beginning to climb this fall.”

And while mortgage rates are still low today, the data from Freddie Mac indicates rates are fluctuating ever so slightly right now, as they moved up one week before inching slightly back down in their latest release. It’s important to keep in mind the influence rates have on your monthly mortgage payment. DM me to discuss today’s rates and determine if now’s the time for you to buy.

A little team bonding for these amazing peeps at the 2021 Street of Dreams. Have you been? Which home was your fav?

Before you decide whether you’re ready to buy a home, you should know how to answer these three questions.

>>What’s Going on with Home Prices?

Home prices are one factor that directly impacts how much it will cost to buy a home and how much you stand to gain as a homeowner when prices appreciate. Continued price appreciation is great news for existing homeowners but can pose a significant challenge if you wait to buy. Put simply, with home prices increasing, the longer you wait, the more it could cost you.

>>Are Today’s Low Mortgage Rates Going To Last?

Another significant factor that should inform your decision is mortgage interest rates. Today’s average rates remain close to record-lows. Much like prices, though, experts forecast rates will rise over the coming months. Your monthly mortgage payment can be significantly impacted by even the slightest increase in mortgage rates, which makes the overall cost of the home greater over time when you wait.

>>Why Is Homeownership Important to You?

The final question is a personal one. Before deciding, you’ll need to understand your motivation to buy a home and why homeownership is an important goal for you. There’s a value to homeownership beyond the many great financial opportunities it provides. It gives homeowners a sense of pride, safety, security, and accomplishment – which impacts their lives and how they feel daily.

Homeownership is lifechanging, and buying a home can positively impact you in so many ways. With any decision this big, it helps to have a trusted advisor by your side each step of the way. If you’re ready to begin your journey toward homeownership, DM me to discuss your options and begin your journey.