Agent Profile
My job is service...service to you and your real estate transactions! How can you benefit from my 25 years of experience and expertise? What can I offer to make the process more productive?
* Current information on available housing...comparative and competitive market pricing and analysis
* Daily involvement in the local real estate marketplace.
* Thorough, comprehensive knowledge reflecting years of helping others complete their real estate business.
* Extensive network of professional resources to make the process as smooth as possible.
My commitment is to you! Being available to you...returning your calls...answering your questions...addressing your concerns...respecting your money...matching your timeline...meeting your expectations...helping accomplish your real estate goals!!
JANEESE JACKSON: 503-709-0802 or jj@janeesejackson.com
“Happy New Year” – ABBA
DECEMBER 2011 PORTLAND METRO REAL ESTATE UPDATE!!!
Merry Christmas, Happy Hanukkah, Fabulous Festivus, Sensational Solstice…or whatever you embrace, believe or endure in this holiday season!! And, what about the real estate market … you ask??? (or not). Well, not so bad…not bad at all…relatively speaking! It’s with tiny, incremental steps that we seem to be somewhat stabilizing. As was the case last year, we had an uptick in activity during this traditionally slower time of year. Nationwide, existing Home sales were up 4% for the month and up 12% vs. a year ago. Inventory is down 18% vs. last year, now at a 7 month’s supply. Housing starts were up 9.3% for November and up 24.3% vs. a year ago, while building permits were up 5.7% for the month. In the Portland Metro area closed sales rose 3.2% for the month and up 18.9% in November 2011 compared to November 2010. Our local inventory is down to 6.2 months supply, which is the lowest in 3 years!! All of this is “hand-in-hand” with generally more positive economic news, such as the initial jobless claims dropped to the lowest level since April 2008 and continuing claims are the lowest since September 2008. Plus, a better week in the stock market with a 3.5% weekly gain in stock prices, recouping the prior week’s slide!
BUYERS: So, what does this mean for buyers? Interest rates remain at historical lows! Prices are low! The mortgage market is stingy with its money but not impossible! I would check out your options with a trusted mortgage broker. If you are thinking about your first home, its “cheap money” and with an FHA loan, you can get into a home with as little 3.5% down. Qualifying veterans can get into a home for 0 down with a VA loan! If you own a home and intend to stay and haven’t run the numbers to see if it makes financial sense to refinance, now’s the time to consider that option. If you need to adjust your living situation for more or less room or a lifestyle change, research what your home might sell for and what you could conceivably buy with your $$$ now.
SELLERS: So, what does this mean for sellers? I’m not going to sugar coat it, if you want to sell you must get competitive with your pricing, condition and/or concessions/incentives. It’s still a buyer’s market. The good news is that when priced correctly, homes are selling! You need to compare losses while selling with gains when buying and see if the numbers make sense.
INVESTORS: So, what does this mean for investors? If you can come up with the down-payment (10%-30% down), qualify for the loan and embrace a little extra responsibility, you could really make an excellent investment to round out your retirement and savings portfolio!! It’s simply another strategy to build wealth. The rental market is very good in the Portland area, generally with vacancy rates less than 4%. You use your down-payment + other people’s money (a Mortgage) to purchase a property. Your tenants pay that mortgage (PITI=principal, interest, taxes, insurance), you realize whatever cash-flow (rents minus PITI & maintenance=cash-flow). So, whether the real estate market appreciates or not, you accrue equity due to the tenants paying down the mortgage on a monthly basis.
So, I’m hopeful for our real estate market and excited in general for 2012!! I’m sensing a tiny glimmer of a light at the end of the tunnel. Here’s wishing you, your family and friends happiness and health in the new year!
About the Author | Janeese Jackson
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