COVID-19 Archives - Sean Besso Realty

Advantages to Selling a Home in Oregon This Winter

You might have read my previous blog on the advantages to buying a home in Oregon during the winter. The obverse of that article is that there are several compelling reasons to consider selling a home right now, even though winter has not been a particularly popular time to sell.

We are seeing historically low real estate inventory lately not just in the Portland market, but nationwide.

There was a 16% drop in number of homes put on the market in September compared to August. Lower inventory means a more competitive buyer landscape. Why is there a lower inventory? Sadly, one of the reasons is that this year’s wildfires destroyed over 4,000 homes in Oregon. Population growth also factors into a lower inventory. Some people concerned about selling their homes during the pandemic have chosen to hold off. This provides more space for you on the market if you list your home. Here are the precautions I take to ensure everyone’s safety.

Historically low interest rates of below 3% are motivating buyers.

Getting those incredibly low rates shaves off a remarkable difference in what homeowners pay monthly. The Freddie Mac chart below shows the drop in various types of mortgage rates over the past 12 months, bringing us to 2.67% for a 30-year fixed-rate mortgage.

Primary Mortgage Market Survey® | U.S. weekly average mortgage rates as of 12/17/2020

Below is a sample mortgage payment calculation factoring in a 10% down payment with a mortgage rate of 3.0%, 3.5%, and 4.0%. So with today’s historically low interest rates, a buyer’s monthly payment would be even lower.

Monthly Mortgage Payment Comparison (Multnomah County)

The National Association of Realtors graph below shows us the median price of a home in the Portland Metro area has increased even though we saw a dip in price growth in 2019. The third quarter of 2020 has rebounded considerably. Fourth Quarter 2020 report was not available at time of publishing.

Portland Vancouver Hillsboro Local Market Report – Third Quarter 2020

If you are still on the fence about whether to list now or wait until spring/summer when house hunting is traditionally more lively, contact me today to have a conversation about your concerns. In the meantime, check out my article on being a prepared home seller.

Originally published 12/28/2020

Buying and Selling Real Estate in the Time of COVID-19

If you are hesitant about whether to buy or sell a home right now during a global pandemic, you’re not alone. Real estate business is considered essential, so under the Governor’s orders, we are continuing to conduct business. But, it is not business as usual. The concerns about transmission and infection are real. Real estate transactions have always been a very personal process requiring a lot of one-on-one time together. With the new reality we face, the process is still personal, but with less contact.

Some of the precautions I am taking to keep you, your family, myself, and my family safe are:

Masks

I wear a mask at all showings and transactions. I recommend my clients do the same.

Gloves

Switching lights off and on, door knobs, windows, any surface that is usually touched, I do so with gloves on. I throw the gloves out after each use.

Disinfectant Wipes

I make these available at my listings and carry them with me in my car. I am diligent about wiping down all surfaces that have been touched (even with gloves on) after a showing.

Physical Distancing

While it can be challenging to maintain a distance of six feet from each other, I offer live video conferencing tours of properties if you do not wish to meet at a home in person.

Virtual Tours and Staging

I include 360 virtual tours on my listings and offer virtual staging. The 360 virtual tour is a 3D-style walk-through using professional photography. It is not a replacement for the physical visit, but it is a close approximation. Virtual staging is where furniture is digitally placed into images of the space. This helps minimize the amount of time and people required in a space.

If you can or need to buy or sell, business is still happening. I am taking all the precautions to minimize/eliminate exposure, so you can transact with confidence. If you are hesitant to proceed, please contact me so we can have that conversation. It is important to me that you are comfortable and confident when making lifetime decisions.

Sean Besso’s Guide to Online Stay-At-Home Survival

With the advent of Oregon Governor Kate Brown’s Stay-At-Home Order, we turn to the mighty internet for satisfying our immediate need for distraction, including news consumption. We don’t know when the order will be lifted, so to help with the challenge of keeping a positive mindset (which contributes to strengthened immune systems), be sure to get out and get some fresh air and exercise. Be mindful of employing physical distancing: maintain six feet away from others not in your household. You will want to keep 20 feet away from others in your household. Just kidding about that – but I’m sure there are new at-home dynamics at work.

One outcome of the pandemic crisis will be what people look for in a home. The way people look at a prospective home will take shelter-in-place in consideration. Does the home have: ample storage, private spaces within the floor plan regardless of square footage, freezer/refrigeration capacity, water supply storage, can an uninterruptible power supply be incorporated, and much more. If there are any modifications that can be made in this regard, now might be the time to make those improvements. In the meantime, please enjoy the list of free resources I’ve compiled for you and your family (special thanks to PDX COVID-19 Mutual Aid Network). If you have any new discoveries you’d like to share, please comment below.

CREATIVE

Portland Art Museum’s YouTube channel allows you to take a virtual walk-through of exhibit, Volcano! Mount St. Helens in Art, explore their online collections, learn about art conservation, experience artist talks, and more.

10 free university art classes via artsy.com.

Courses.com
Enjoy several free courses in architecture, drawing, and even guitar. Explore other disciplines for free, too.

Minimoog Model D App
“The Minimoog Model D App is a mobile transmutation of the world’s first portable synthesizer, the Minimoog Model D®. Optimized for use on all 64-bit iOS devices, anyone can jump in and play with over 160 included presets or lay fingers to the controls and begin exploring vast magical realms of creative potential.” Download the app here.

WELLNESS

Guided meditation series
With Open Sky Wilderness

Addiction recovery
OregonRecoveryNetwork.org

Entertainment

Get free unlimited smartphone data from all four major service providers (Verizon, Sprint, T-Mobile, AT&T) thanks to the FCC’S recent “Keep Americans Connected Pledge” which also includes: not terminating service due to an inability to pay, waiving late fees, providing WiFi hotspots.

60 days of free Comcast Internet for low-income households, the elderly, and veterans – continued service not required, can be cancelled at anytime.

Pluto TV

Kanopy, which also has kids-only TV. Library card required.

Free access to nightly streaming from the Metropolitan Opera

EDUCATION

20 days free access to Scholastic Learn at Home (up to 3 hours per day)
Free science lessons from Mystery Science (K-5th)
Gigantic list of free education resources.
This Free Virtual Field Trip List, a Google doc.
You can find a variety of free ebooks from:
     Early Bird Books
     Book Bub
     Free Booksy
     FreeEbooks.net

Oregon/Portland area specific resources:

Portland Area Student Meal Pickup Sites

The Multnomah Library system is an incredibly underrated gem with a ton of programs. Explore their website here: https://multcolib.org/