Movin' On Up – Real Estate News, Data-Infused

MLB to PDX! (Updated)

By eli.cotham March 28, 2025Real Estate

Today I'm taking a break from talking about little real estate (houses) to talk about big real estate (stadiums). It's opening week for baseball, and the Giants are on pace to win 122 games, and that's all the excuse I need. A while back I wrote about the efforts to get Major League Baseball to Portland and now that there are Official Updates, I'm updating. Briefly though, the how and why of where we are. A group called the Portland Diamond…

After the NAR Settlement: What Has Changed?

By eli.cotham February 19, 2025Real Estate

Six months ago I wrote this piece explaining what the new (to most of us) Buyer Representation Agreement looked like. Being that we're now, well, six months into the post-NAR settlement world, it seems a good time to check in and see what has changed in practice. Before tackling that, I'll go with ever-popular bullet points to recap what actually has legally changed. A few things: The common practice regarding commissions for buyer agents prior to last August was this: the…

My Crystal Ball for 2025

By eli.cotham January 15, 2025Real Estate

The more things change, the more they stay the same. Witness: That right there is a two-year graph of average mortgage interest rates, with data from Freddie Mac. The type is probably too small to read so I'll help: over the last two years the number has not been lower than 6.08% or higher than 7.79%. Right now it's around 7%, which is going to be right about average for the past two years. If you ask me to predict the…

Selling in 2025? What To Do Now

By eli.cotham December 2, 2024Real Estate

I saw some interesting stats the other day about a group being referred to as sidelined buyers. These are the potential home buyers who are waiting for market conditions to improve before jumping in. A survey of 1000 of these sidelined buyers was done to see what exactly they're waiting for. While a third of them are waiting for the miracle of sub 5% interest rates (ain't happening), another third are ready to go if rates are in the 6's (and…

Just in Time for Halloween: A Primer on Oregon Property Taxes

By eli.cotham October 30, 2024Real Estate

Grab a cup of coffee to keep yourself awake, since we're talking about property taxes today. Those of you who own homes in Oregon just got that dreaded envelope in the mail telling you how much you owe for the year, for which I am profoundly sorry. It's not my fault though. That's just life, and at least we don't pay sales tax. There are a couple of topics I'd like to touch on regarding property taxes. First, I'm going to…

The Importance of Pricing Your Home Correctly

By eli.cotham September 13, 2024Real Estate

I'll lead with this: nothing is more of a bummer to sellers than to watch your house sit on the market, not getting any offers. It might be because the housing market is in a slow season. It might be because the interest rates spiked. It might be that buyers aren't seeing the house in the same condition that the owner imagines it to be. It might simply be because the house is overpriced. Pricing correctly, not too high and not…

The Oregon Buyer Representation Agreement, Explained

By eli.cotham August 27, 2024Real Estate

We've now reached the point where all home buyers who wish to employ a Realtor must sign a contract with them first, before they even see a house together. We've talked about this already, sort of. What was theory is now practice, and there will be plenty of getting used to it from buyers, sellers, and agents alike. If you're going to jump into the buyer pool any time soon, you'll be asked to sign what's called a Buyer Representation Agreement…

Big Changes Are Afoot

By eli.cotham July 22, 2024Real Estate

August 17 is going to be quite an interesting day for those involved in real estate. That's the day that the National Association of Realtors (NAR) has set as a deadline for its members (I'm one of them) to implement the practices they agreed to implement as part of this whole saga. There is a whole lot of information out there on What It All Means, and most of it has been wrong. I have my opinions on how things will…

Is Cash King?

By eli.cotham June 20, 2024Real Estate

In January of this year, according to the National Association of Realtors, 32% of all home purchases made in the country were done so by buyers who were not using any financing. That is the highest that percentage has been since 2014. Among many prospective home buyers, the all cash buyer is a bogeyman-- coming in and swooping up homes at lower prices, all because they can offer terms that a buyer using financing cannot offer. The truth presents a different…

The Case for Buying Now, Even With High Interest Rates

By eli.cotham May 10, 2024Real Estate

Let's get this out of the way-- assuming it isn't a global economic calamity that will cause this, of course we want interest rates to drop dramatically. The amount of money that goes poof every month being smaller is better for buyers, sellers, and just about everyone else. Even for lenders. Buyers paying lower interest rates means sellers have more buyers in the pool and therefore can get higher prices, all without raising the mortgage payment. Win/win. There's your perfect world…