Statistics may capture your attention, but nothing is more validating than when your next-door neighbor tells you they just sold their home for $50,000 higher than you would have ever expected. Today we’re hearing about homes realizing appreciation gains from 6% to 18% over the last 12 months. But it’s not until you see the actual “sold price” that you recognize the power of leveraging your real estate.
There are a variety of 2021 sales at ELEETE that provide a true picture of the appreciation some owners have achieved over a very short period. We’ve seen some crazy gains! Just today our office received an offer on a listing $215,000 over the asking price! But rather than focus on “one-off” homerun stories, I wanted to provide you some of our real world Portland, Oregon examples. These sales truly tell the story – and none of these homes were significantly improved or remodeled between sale dates:
Autumn Creek – Purchased in 2015 for $162,000, Sold in 2021 for $275,000, 69.8% appreciation in 6 years.
North Bethany – Purchased in 2020 for $369,000, Sold in 2021 for $435,000, 17.9% appreciation in 11 Months.
South Hillsboro – Purchased in 2016 for $225,000, Sold in 2021 for $337,000, 49.7% appreciation in 5 years.
Vermont Hills – Purchased in 2017 for $430,000, Sold in 2021 for $625,000, 45.3% appreciation in 4 years.
Portsmouth – Purchased in 2020 for $360,150, Sold in 2021 for $419,731, 16.5% appreciation in 8 months.
Bauer Crest Estates – Purchased in 2014 for $732,000, Sold in 2021 for $1,081,000, 47.7% appreciation in 7 years.
And although you are sure to get a good price if you list your home today, there is far more involved in a stellar outcome than just price. You want an agent representing you who can navigate the intricacies and use the strategies needed to set you up for the BEST all-around outcome to your home sale.
The stories are as endless as the incredible gain in appreciation. But, we know “what goes up, must eventually come down.” The economy is known for cycles and right now we are in the longest sustained up-cycle in memory. Only you know when it’s the right time to sell and “cash in” on your home – but all signs suggest today is clearly one of the best times to be a seller in the history of Portland real estate.
While I’m eager to help you sell your home, an important part of that responsibility is to ensure you have the right home in which to move. Finding your replacement property is the challenge right now and I’m here to help you. If you have a plan in place and know where you will be moving, or where you will be staying in the interim, then selling today may be a brilliant strategic decision in your financial plan – “Buy Low – Sell High.”
It all starts by having me come to your home to confirm its condition and updates. From there, we can have a meeting at my office (or have a zoom meeting) to present an ELEETE Price Report. This isn’t one of those “dump some RMLS numbers into a program and spit out a price” kind of report. This is a valuable tool to arm you with the data you need, utilizing 15 to 20 active, pending, and sold properties, and then making up to100 adjustments to dial in your potential value. Take a good look at the above property examples and do the math. Your windfall may be one call away.