Real Estate Information

For the 18th year in a row, I just returned from the annual National Association of Realtors trade show, which this year was held in New Orleans, Louisiana.

The show which is huge - 30,000 plus attendees - can only be held where there are big convention centers along with lots of hotel rooms, so for the last several years this has limited us to Orlando, Las Vegas, New Orleans and San Francisco.

This was very interesting to me as a Realtor, and kudos to both our organization for not canceling the show after the hurricane, and to my peers who showed up in droves, and helped add to the economy of New Orleans.  While our show was centered around the Earnest Morial convention center, I also spent some time looking around and saw a lot of boarded up stores and restaurants indicating not all is well, even in that district.  But I think the most shocking thing to me was my room maid at the Marriott Hotel telling me that until very recently, she actually lived in my very room.  Apparently the Marriott had many families of their employees living there, kudos to Marriott ( and also for making all their hotels non-smoking, they have me as client for life).

Regarding the show itself, there were over 800 vendors with lots of new ideas and some rekindled old ones.  Being a techy myself, I focused on the technology tools I can use to better serve my clients and my team.  I think the better ones this year were making better use of wireless devices to work.  In particular the Sprint REV-A cellular modem which absolutely rocks.  I used this both in the hotel and in the convention center, and at the airport too.  It was like being on my home wireless network and faster than mid-day at my office !  The other was the database system I use now working on Blackberries and having a wireless sync so when Cathy on my team changes a persons phone number it instantly pushes to the phone.

As I do every year, I also spent all day Thursday with 49 other top selling Realtors and real estate speaker Bill Barrett ( www.billbarrett.com) where we spent the whole day sharing ideas.  I now have several ideas to add to help us sell homes faster and for more money.

As always, the food was fantastic, and I ate more than my share of Cajun shrimp.  I look forward to going next year to Las Vegas, but more so to seeing how New Orleans has changed when I go back again two years from now.

As many native Oregonians and folks living in the Pacific Northwest are aware,

we are coming upon the rainy season very quickly! We're starting to see

inspectors note that gutters and downspouts need to be cleaned in preparation

for winter. If you are a homeowner, it is definitely a good time to get ahead of

the rain game and have your gutters and downspouts cleaned out so that leaves

and debris won't inhibit the downward flow of rainwater from your roof. Clogged

gutters and downspouts can lead to buildup and unnecessary stress on the

drainage system around your home.

The Rob Levy Team has access to Prudential Northwest's library of contractors

available through the Home Services department. Regardless of your

maintenance, decorating, repair or construction needs, our Home Services

department has a full catalogue of professionals who can help you. As a seller,

once you have hired us to sell your home, we immediately forward your

information to Home Services so that you have access to this network of

professionals. As a buyer, once a seller has accepted your offer, we do the

exact same thing for you. Whether you need gutters and downspouts cleaned,

blinds ordered, remodeling planned, or carpets installed, The Rob Levy Team

and Prudential Home Services are here to assist you in making the process

smooth and easy!

Wow, if only I had this service when I was searching for homes this spring. The Rob Levy Team has an amazing tool that allows buyers to search for homes by selecting neighborhoods on a map. It is so simple and useful and far exceeds other neighborhood searches. The difference between this neighborhood search and the numerous sites other agents offer is this: You can visually see on the Portland area map all the homes listed in the section you selected. Simply draw a box (you may have to draw more than one to narrow in your search to a street level view) over the map in the area you are interested in. If it is a broad section you will see little dots (more than 100 homes in the area you selected,) and as you zoom in on your selection, the homes are represented by little home icons. As you hover your mouse/cursor over the home icons a second information box pops up with basic details and pictures of the house your mouse/cursor is hovering over. You may then opt to click on the pop-up box for more details about the home or continue to peruse the map for additional listings. Most real estate websites offer maps that allow you to click on the neighborhood and add it to your search list, but they do not actually show the homes listed in relation to each other or their location on the map.

The best way to understand this Map-Based Property search is to try it out at http://allportlandlistings.com . An email address is necessary to log-in to the site, but once you are there it is easy to use. The website also has features that allow you to maximize your search by naming price range, number of bedrooms and additional categories. Once you find a home of interest and you click on the details box if will take you to an in-depth page with photos, features and public school information. There will also be options to register and save the search, make an appointment to view the property, or sign up to receive emails of listings as they come on the market. This Map-Based Property search is the best tool for buyers searching for properties in specific locations!

So you found the house of your dreams, have an accepted offer, and are ready to move in as soon as you get a loan, right? It is important to have realistic expectations of the time frame to complete the loan process, appraisal and reach the closing date. Once you have applied for a loan, the lender will request an appraisal, work through all the numbers and prepare your loan documents for the title company who will handle your escrow account. Depending on your lender, this can take a few weeks or over a month. Sometimes this can be the hardest part of the home buying experience because you will not have an active role in this and you just have to sit back and wait.

Some lenders will be able to expedite the loan process and assure the buyer that all documents will be in order. This greatly helps the title company, real estate agent and home buyer to feel confident that the house will close on the correct date. Once again, this is a reminder of how critical it is to choose a trusted lender who will work for you, the buyer. While waiting in this limbo of time between selecting a home and receiving the keys, I recommend you relax, stay busy and let your lender do the work.

One of the key pieces of an offer is the closing date.  In many cases, clients assume a standard 4-5 week closing is the only option when in fact there is much greater flexibility.  Factors for buyers to consider involve loan processing, school schedules, and relocation, in the event that a move is involved.  Generally speaking, lenders need 3-4 weeks to process loan applications, order appraisals, and obtain final approvals on loans so that documents can be ordered.  In the event that a buyer is funding their purchase with cash, they can absolutely request a quicker closing.  If school schedules and/or relocation timelines are involved, buyers can request extended escrow periods and negotiate with sellers based upon their flexibility.  As a buyer, it is important that you discuss these factors with your Buyer Specialist, as they will work diligently on your behalf if there are special needs.  Our Buyer Specialists are here to support and represent you.  In the current market, buyers have greater flexibility than in the past.  We also work with one of the best - Tammy LeMaire with Fidelity National Title - https://www.fntic.com/ much as we have for 18 years now.  Tammy is the best of the best and helps us close most all our transactions.

If you are selling your home or other property, be sure to consider your timelines as well.  In the event that you're selling your home, it is likely that you are purchasing a new one and/or relocating, which means you'll need some flexibility from your buyer.  If you are selling an investment property, you may be exchanging your proceeds into a new investment or making other plans for your newly acquired cash.  Often these types of reinvestments have deadlines and restrictions, so be sure to discuss these concerns with your tax professional.  If you're selling your home and have these concerns, be sure to discuss them with Rob Levy, who will be your primary contact in the initial phases of the listing process.  Rob will ensure that when an offer arrives, your timelines are given particular consideration as we negotiate on your behalf.  Remember, whether you are selling or buying a property, The Rob Levy Team is here to represent you!