Date Archives: November 2021

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Buying a House | 2 Posts
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Portland OR | 33 Posts
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November
29

How to Navigate a Competitive Real Estate Market

Competitive MarketHomes are selling very quickly! Securing a home in a competitive market can feel challenging, if not impossible. Below, we've rounded a few tips to give you the best chance possible at getting your dream home in the competitive market. Following our guide and working with our brokers will help you stay ahead of the pack and position yourself as a potential buyer.

  • Get Pre-Approved
    Before you even begin house hunting, get a pre-approval letter from a lender. Shopping with a pre-approval in hand shows sellers a lender has verified your income, creditworthiness, and other numbers, and you have the capacity to buy their house. A pre-approval letter will communicate that you're a serious buyer. If there are several offers on the table, interested parties without financing could be tossed out. Pre-approval qualifies you for financing and gives you a competitive edge. And keep in mind that pre-qualification is not the same as pre-approval.

  • List Your Needs and Wants
    Now is the time to break out a notepad and start making a list of your needs and wants. Needs are non-negotiable features that your next home must have. Wants are features you'd like your next home to have but would be willing to sacrifice if you find a good home. For example, you may need a large backyard for your children or pets. You may prefer hardwood floors or an updated kitchen, but those may not be deal-breakers. Knowing your non-negotiable items will help determine whether a home meets your minimum requirements. If it does, you'll be able to act quickly and make an offer in today's competitive market.

  • Find a Great Real Estate Agent
    A great real estate broker is your secret weapon when buying a home in a competitive market. Not only do they have a solid understanding of the current market and the neighborhood you're interested in, but they also have terrific connections and great negotiations skills, which will work to your advantage. Before you hire a broker, be sure to get referrals, check online reviews, contact several recent clients, and find out their experience. When you have a list of at least five contenders, ask important questions. The inside knowledge of an excellent broker can put you on the fast track to success.

  • Look for Homes Under Your Budget
    In a competitive market, you can expect to compete against multiple or dozens of bidders on one home. As such, it may not be a good idea to look for homes at the top of your budget because chances are another person will outbid you. A good strategy is to look for homes that are below your budget so you can have room to offer above the asking price without going outside your target price point or dipping into your savings. You may also consider an escalation clause, which states that you'll put your bid at a certain price point higher than other competing bids – but make sure you know when to stop.

  • Be Ready to Move Fast
    Once you've found a home that ticks the boxes in your needs list, put in an offer right away before someone snatches it up. Your offer should include all relevant information, forms, and disclosures the seller will need to make a decision. An incomplete offer could end up in the trash in a multiple offer situation. Pay attention to details and make sure your offer is complete. Your agent will be happy to help you draft your offer and have your negotiating strategies at the ready. Also, know how high you're willing to go if there are other offers and be ready to make tough decisions quickly and decisively.

  • Make a Large Down Payment
    Making a sizeable down payment is another way to strengthen your offer. Of course, you should save up enough for a down payment when buying a home, but it's more important than ever to do so when buying in a competitive market. You want to show the seller that you are serious, can afford the home, and is ready to put your money where your mouth is.

  • Keep Trying
    A competitive market could mean that you "lose" a few homes to other buyers. Home inventory is remarkably low and homes tend to sell remarkably quickly when they come on the market. If your offer isn't accepted, do not be discouraged. Keep searching and putting in offers until you're able to find a home that you love.

If you're ready to buy a home in the Pacific Northwest, Coldwell Banker Bain can help. We put our knowledge, skills, and experience on your side to help you find the perfect place to call home. Contact us today to get started.

November
8

Dine at Portland's Food Carts

Portland Food Carts

Los Angeles may claim to have started the food truck craze, but Portland has truly embraced the trend. With more than 500 trucks, or "carts," as they're referred to by locals, Portland's food cart scene has drawn raves from Bon Appétit, CNN, and other national sources.

Our brokers spotlight some of their favorites among the exciting food carts found just minutes from Portland homes for sale.

  • Yoshi's Sushi - Multnomah Village French Quarter, 3518 SW Multnomah Blvd., Portland, OR 97219
    So you're viewing Portland homes for sale and you get a craving for sushi. What to do? Pick up the phone and call Yoshi's Sushi. Owner/chef Yoshi Ikeda shows that you don't have to go to a glitzy, upscale restaurant to get fresh, high-quality sushi. Customers rave about the nigiri, especially salmon and hotate, or scallop. Yoshi's is open Tuesday through Saturday for phone orders only, with lunch served from noon - 2 p.m. and dinner from 4 p.m. - 7 p.m. 

  • Jojo - 3582 SE Powell Blvd., Portland, OR 97202
    Chicken sandwich wars are raging among fast-food outlets everywhere, and many will declare JoJo to be the clear winner. Their fried chicken sandwiches come in four different varieties, and the star is the Fried Chicken Melt. Two slices of toasted shokupan bread hold a patty topped with American and Cheddar cheeses, Crystal hot sauce, house ranch, coleslaw, and chives. Jojo is open daily from 11 a.m. - 10 p.m.

  • Viking Soul Food - 4255 SE Belmont St., Portland, OR 97215
    It's called Viking Soul Food, but their Scandinavian-inspired dishes will definitely satisfy your taste buds as well. Owners Megan and Jeremy put their own spin on dishes from Megan's childhood, such as the Norwegian meatball wrap that was sampled by Guy Fieri on Diners, Drive-Ins, and Dives. Save room for a lingonberry lefse wrap, stuffed with plump lingonberries and smooth cream cheese. Hours are noon - 8 p.m. daily except Friday and Saturday when closing time is 8:30 p.m. 

  • Tierra del Sol Oaxacan Cuisine - 7238 SE Foster Rd. #1, Portland, OR 97206
    Mexico's famed street food makes it a natural fit for a food truck. Located in the lively Portland Mercado, Tierra del Sol Oaxacan Cuisine offers classic dishes made with fresh, locally-sourced ingredients. The showstopper is the tlayuda, a 14-inch corn tortilla piled with chicharrons, black beans, queso Oaxaca, and veggies. Meat is optional, and the tlayuda comes packaged in a pizza box. Tierra del Sol is open seven days a week from 10 a.m. - 8 p.m.

  • MF Tasty - 3927 N. Williams Ave., Portland, OR 97227
    MF Tasty grew out of another food trend, when husband-and-wife Eric and Nicole operated a secret supper club in Phoenix, AZ. After moving to Portland, the couple opened a food cart serving "Southwest inspired, Portland made" dishes. The menu changes each week, but typical offerings include pumpkin-spiced risotto, harissa-BBQ glazed "beetloaf," and their award-winning chorizo mac & cheese. Follow them on Instagram to view the current menu. Hours are 5 p.m. - 8:30 p.m. Friday and Saturday and 11:30 a.m. - 2:30 p.m. Sunday and Monday.

  • Birrieria La Plaza - 600 SE 146th Ave., Portland, OR 97233
    Hard to improve on perfection, but birria-style takes tacos to another level. Birreria La Plaza cooks the flavorful dipping consome for hours to bring out all the seasonings and spices. Owner Oracio Hernandez's secret weapon is his mother, Doña Sofia, and the recipes she learned growing up on a farm in Jalisco, Mexico. Cheese lovers go for the combo that includes one each of quesotaco, mulita, vampiro, and quesadilla. Hours are 10:30 a.m. - 7 p.m. Wednesday through Friday, 9:30 a.m. - 7 p.m. Saturday, and 9:30 a.m. - 5 p.m. Sunday.

  • Stretch the Noodle - 223-269 SW Washington St., Portland, WA 97204
    A visit to Stretch the Noodle rates high on both food and entertainment factors. On most days, you can watch chef Xuemei Simard practice the esteemed art of noodle-pulling as he folds, twists, and stretches dough into delicate strands. Every dish is made to order, and well worth the wait. Try the biang-biang noodles, a wide noodle with hot oil, black vinegar, and garlic sauce, topped with a sprinkling of sesame seeds. Stretch the Noodle is open weekdays from 9:30 a.m. - 6 p.m.

  • Erica's Soul Food - 803 SE 82nd Ave., Portland, ME 97216
    Authentic down-home Southern cuisine comes to Portland via Erica's Soul Food. Comfort food classics such as meatloaf, pimento cheese fries, and shrimp & grits will make you forget you're on the West Coast. Check out the Soul Bowls, mash-ups of Southern favorites like the Grandma, with meatloaf, cornbread, black-eyed peas, and cabbage. Erica's is open Wednesday through Sunday, with lunch served from noon - 2 p.m. and dinner from 4 p.m. - 7 p.m.

Find out why everything's coming up roses in Portland. Contact us at Coldwell Banker Bain to learn more.

Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 09/29/2022. The listing information on this page last changed on 09/29/2022. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of RMLS (last updated Thu 09/29/2022 12:50:32 AM EST) or Willamette Valley MLS (last updated Wed 09/28/2022 11:51:47 PM EST) or COAR/MLSCO (last updated Wed 09/28/2022 11:31:24 PM EST) or NWMLS (last updated Thu 09/29/2022 1:23:54 AM EST). Real estate listings held by brokerage firms other than Coldwell Banker Bain may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved. --

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