The Portland real estate market is incredibly competitive. While some homes may be attracting fast offers, overall sales have dropped by 2.7 percent over the past year.
What does this mean for you? Well, if you’re looking to sell your home, there are a few questions you need to answer in order to be successful. These include evaluating how much your home is worth, to deciding whether or not you need a seller’s agent.
Discovering the answers to these questions will not only help you sell your home fast, it will ensure you get the best price and positive home-selling experience. Keep reading to learn more!
More Helpful Home-Selling Resources
Questions To Ask Before Selling Your Portland Home
Is Now the Right Time to Sell?
The Portland real estate market is very seasonal. Simply put: some months are easier to sell a home than others. A few factors that can sway the market in one direction or the other include:
- The weather
- Home inventory
- Buyer traffic
Pro tip: Partnering with a trusted home-buying company is an easy and successful way to avoid seasonal market changes. At Columbia Redevelopment, we buy homes all year long and always give the best possible cash value, no matter the season.
How Much Is My Home Worth?
Do you know how much your home is truly worth? Pricing your home incorrectly is a common mistake. It’s easy to underestimate the value of your home, as is thinking your home is worth more than it is.
The easiest method for determining your home’s value is to look at the sale prices of homes recently sold in your neighborhood. A good tool is the Multiple Listing Services, which is a large database of home listings in your area.
Some other things you should weigh in this evaluation include:
- Number of bedrooms and bathrooms
- Square footage
- Condition of your home
- Any renovations or big repairs
- Special features or amenities
How Much Will It Cost To Sell My Home?
After you’ve evaluated the value, make sure to also consider the cost of selling your home. Ideally, you will make a profit from the sale, right? Unfortunately, this isn’t always the case and some people jump into the home-selling process without considering the true financial impact.
Here’s a quick step-by-step process for evaluating the cost of selling your Portland home.
Step 1: Find out how much you still owe on the mortgage and any other home equity loans you’ve taken out for the house.
Step 2: Add up other expenses associated with the home-selling process, including:
- The commission rate of your real estate agent
- Any necessary repairs needed before putting the house on the market
- The costs of marketing your home, including home staging, photography, videography, and listing
Step 3: Make a final calculation based on expenses vs. estimated value. Determine whether or not the value of your home is equal-to, less-than, or more-than what you owe the bank and the money it will take to sell the home.
Pro tip: Avoid the added expense of selling your home by working with a home-buying company. Not only will you eliminate commission costs, you’ll also avoid the expense of staging your home, getting professional photos, and other marketing costs.
Do I Need to Make Repairs Before Selling?
This is a question we hear a lot. The answer depends on a number of variables, including how you plan to sell your home.
If you’re selling the house yourself or working with a real estate agent, then you want to make sure your property is ready for viewing and inspection. Most buyers want a home that is move-in ready, so by not making repairs you will limit those buyers. Those who want a fixer-upper home will also want a discounted price.
On the other hand, if your home has extensive, costly repairs, you need to consider whether or not you can recoup these costs once you sell the home.
If you’re selling the house to a home buying company, you’re in luck. No repairs are needed. At Columbia Redevelopment we buy houses for cash in any condition, including fixer-uppers, messy homes, and those with extreme damage from mold, rot, and more.
How Long Will it Take to Sell My Home?
According to the national Association of Realtors, the median days a home is on the US market is 29 days. Here in Portland, the average time it took to sell a home in 2017 ranged from almost 60 days at the beginning of the year, to 38 days in June.
Though there are effective ways to sell your home fast, in general the time it takes to sell your home depends on a few things. This includes location, price, and condition. It’s important to do your research and plan accordingly.
Should I Sell My House for Cash?
There are many benefits to selling your home for cash. Most home sellers agree that a cash offer is always the most attractive. Here are a few reasons why you should aim to sell your Portland home for cash:
- Fewer sales fall through
- Faster closing periods. Cash house sales often close within 2 to 3 days!
- Easier overall selling process. Cash sales are not reliant on financing approval, appraised values, or home inspections.
Will the New Owner Respect My House?
While it’s best to leave emotion out of the sale of your home, we understand this can be difficult. No matter what length of time you’ve spent in your house, it likely has sentimental value.
So how do you find a buyer who will respect and love the house as much as you do?
Working with Columbia Redevelopment is a great way to know exactly who’s buying your home, and why. Our process is completely transparent-– we buy homes, renovate them, and eventually put them back on the market to be sold again.
However, our goal with this process is to give back to your home’s community. We’ll keep your home and neighborhood characteristics in mind during our renovations. Additionally, we always donate to a local charity that does good work in that neighborhood. Learn more about our charity projects.
Where Will I Live Once I Sell My House?
Of course, in the midst of planning to sell your home, you also need to think about where you will go once your home sells.
Depending on the agreement you make, you may not have a lot of time to pack up and get out once the sale is complete. Do you have a new living arrangement ready? Do you have a moving crew scheduled?
Planning ahead for every aspect of selling your home will limit your stress and make the entire process more enjoyable.
Pro tip: If you’re having a hard time finding a new home, first take some time to determine which Portland neighborhood you want to live in. Check out our Portland Neighborhood Guides for inspiration and some great information.
Do I Really Need to Hire an Agent?
A good real estate agent will help you through the entire home-selling process, giving you peace of mind. Selling a home is a complex process. So working with someone who understands all the marketing and legal aspects of a home sale is helpful.
However, it’s not your only (or even your best) option.
Selling your home to a trusted Portland real estate investor is a much easier process than selling to an individual buyer. Plus, there’s the added benefits of receiving a cash offer, selling your home as-is, and fast closing periods.
Sell Your Home to Columbia Redevelopment
Are you ready to sell your Portland home? We would love to partner together. We buy homes in any condition (as is!) for all cash and zero fees or inspections.
Watch the video below to learn more about who we are. Or visit our FAQ page for more information.