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
Charley Pride – “Things are Looking UP”
FEBRUARY PORTLAND METRO REAL ESTATE UPDATE!!!!
With the holidays, Valentine’s Day (not to mention my birthday) behind us, we can look forward to the 2012 Real Estate Season!!! 2011 ended on a positive note and this year has definitely started off on another positive note. Closed sales experienced an 18.3% increase if you compare this January to the same month a year ago. These are the highest numbers for January since 2007 (remember, if you believe the statistics, March 2007 was the height of the market). The average time on the market has also improved, decreasing from 160 to 136 days. December 2011 saw 5.3 months of inventory (down from 11.3 months in January 2011 and 12.6 in 2010). January 2012 came in at 7 months of inventory, but that’s a fairly typical trend that January will be one of the highest (and usually THE HIGHEST) month of the year in housing inventory. I have been in a multiple offer situation 3 times in the last 6 weeks! So, well-priced, good condition properties are moving!!! That speaks volumes to me!
SELLERS: What does this mean for sellers? It means if you haven’t already absorbed the market data, get someone you trust to give it to you! Some properties are harder than others to price correctly; such as those with ethereal value (views, waterfront, etc) or challenged properties (fixers, un-staged, over-stuffed). None-the-less, you must react quickly to the marketplace. If you get a “lot” of activity and no offers, it probably sounded good but still has issues (remember price overrides all objections). I’m telling you that well-placed, well-marketed properties will go fairly quickly. If your home is not selling, re-visit price, condition, location. There are no magic potions!
BUYERS: What does this mean for buyers? The Fed has claimed they will keep interest rates down until 2014. If that doesn’t change, then mortgage rates (which still fluctuate daily) should stay very low giving buyers some time to position themselves for the best buy. However, that being said, like I mentioned in my beginning paragraph the inventory is beginning to be absorbed. Since pricing is always about “supply and demand”, I have to question that the pricing continuum will continue to go down!
INVESTORS: What does this mean for investors? 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. It can be a challenge to lay the foundation to be an investor, but “NO PAIN, NO GAIN”!! Read my recent post on “Preparing to Be a Real Estate Investor”!
About the Author | Janeese Jackson
- More posts by Janeese Jackson