SHEREE'S TIPS

Here are a number of articles Sheree has written to help both buyers and sellers in the current Central Oregon real estate market. You may click on any one of the titles below to jump directly to that article.

 

2009 - The Year of Change

Most definitely, we had to change this past year. After a roller coaster ride that started the downhill slide in 2007, the ending statistics for 2009 have started taking small steps up the staircase once again.

After a huge year of sales in 2005, the public and Realtors ® alike were unwilling to believe that the correction we saw in the market was real or as big as it proved to be. It took time for everyone to comprehend where we really were landing.

Statistically, we sold 751 homes in 2005, 398 in 2006, 289 in 2007, 252 in 2008 and ended 2009 with a whopping 516 home sales in Bend.

Everyone’s question is “Are we at the bottom?” We seem to be pretty darn close. Yes, there has been a lot of lost ground. Will we see the values we saw in 2005-6? Our dollar per square foot price is down 39%. It continued to fall in 2009, a year that started our recovery. It should be slightly better this year but incrementally small. Building permits are really down which means at some point in our future our housing market will get tight again and that will drive home prices up. Most likely 3-5 years down the road.

As an owner, what do you do? Make the life changes that you want and need to make, regardless of the market. Our personal merry-go-round of life does not stop and wait for us to catch up. If you sell lower than you thought you should, you actually could make it up on the buy side.

And, Buyer’s it is time to get out there. When will we ever see a first time homebuyer’s tax credit or a homeowner tax credit again? Or interest rates in the 5% range?

If you have questions or comments about any of this information or another real estate oriented question, I would love to hear from you. And, as always, thank you so much for all of your referrals.

All my best to you,

Sheree MacRitchie, Principal Broker
2010 President of COAR

(541) 480-8919

 

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Homebuyer Tax Credit

The National Association of REALTORS® Government Affairs Division has prepared two documents that provide helpful information regarding the Homebyer Tax Credit. Click the links below to download these documents:

 

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When is the Best Time to Sell Your Home?

Many people are tempted to wait and put their home on the market or take it off of the market until after the holidays.  Here are some reasons to put or keep you home on the market.

  1. People that are looking for homes during the holidays are BUYERS, not lookers.  If someone is out scouring the homes for sale, they need a place to live.

  2. Many people want to take advantage of the tax benefits available at this time.

  3. There is less competition for your home due to market inventory.  Everyone else is waiting until the first of the year to put their home on the market.

  4. Homes show better during the holidays with all of their decorations.

  5. Buyers have more time to look during the holidays.

  6. You can be on the market and restrict showing days and times.

  7. Buyers tend to be more emotional during the holidays and may pay more for your home.

  8. January is a month when many people start new jobs so that will bring you serious buyers.

 

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Steve Scott Realtors - An Overview

Steve Scott Realtors has been conducting business in this area for over 12 years. We have gained the respect of the community, our peers and other professionals by our hard work, due diligence, uncompromising ethical attitude and unwavering knowledge of our marketplace. It is my hope your experience will further this reputation of personalized service and excellent client satisfaction.

Our company is comprised of people who have lived and worked in Central Oregon for many years. We are a group of experienced agents and the years of experience exceed 497 years, averaging 19 years per agent. We have personal knowledge of our community, each neighborhood's nature, history and growth possibilities.

We supplement this high-touch philosophy with a high tech edge. We have quick access to the MLS, community meeting information and decisions of our government as the decisions are made.

The best asset is the people that work here. Everyone is dedicated and professional and we all work together to ensure every transaction is represented and marketed in all possible ways with every possible method. We are highly recognized by our peers and respected as we represent our clients and all of their needs and wants.

For more information visit the Steve Scott Realtors website at www.stevescottrealtors.com.

 

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Invest in Rental Property and Save

Did you know there are four financial benefits of owning a rental property?

  1. Income – Money you earn with out working.
  2. Principal Reduction – paid by someone other than you.
  3. Tax Savings – You pay less by reducing the amount of income tax you have to pay.
  4. Appreciation – Real estate has always been and will be a solid investment in your future.

Most of us know someone that owns rental property.  They seem to do ok, don’t they?  Have you ever considered buying an investment property?  I know many of us don’t consider ourselves as the “Landlord” type.

Consider this WHAT IF!

The current market situation is a prime time to buy and investment property.  There is a healthy supply of affordable single family residences available for sale.  Prices have come to be affordable and competitive as sellers want or have to sell.  And the stock market has not fared well of late.

LET ME SHOW YOU HOW THIS CAN WORK FOR YOU

It can work even if you don’t have a positive cash flow.  The benefits of owing a rental property still create a positive cash flow after taxes and give you an investment in Bend and your future.

I can show you how it would look on paper and how you can used the depreciation to actually have a positive cash flow after taxes.

 

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Evaluate Your Tax Statement

Everyone who owns property in Deschutes County recently received their tax statement.

I made a little visit to the Assessors office to really discuss the long range idea of Measure 50 and the differences between our assessed value and real market value.

Prior to 1997, property was to be assessed at real market value. Usually these were low as the assessor's office only came out every 6 years or so. In 1997, we passed Measure 50 which only allowed our property taxes to go up 3% annually. What did this do? It held our property tax bill to a "swallowable" amount every year. It was great knowing you would not be paying huge increases.

With this, the real market values showing on our statements have continued to rise above our assessed values. No problem we all think.

However, some day the law could change and here is a good "what if" scenario to consider.

What if we needed more money in our system to pay for this or that and the measure were modified. What if when you sell your home the assessed value could go to the real market value in terms of taxes? Right now my assessed value in comparison is half of my real market value. Potentially, I could end up paying twice as much in taxes. I believe that it is important to keep reality real. I will be appealing my values this year so my property reflects a true picture.

If you would like help with comparisons in your area, give me a call. I offer this as a free service to help you know accurately the real truth. Just give me a call.

 

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What Makes a Great Realtor?

If you are reading this you already have your own opinion in mind. As an agent for 18 years I would like to share my insights.

Real estate is a full time job. There is the only way to assure Buyers and Sellers they are getting an accurate reflection of the market. Sure, educated guesses can happen. Do you want to risk one of life's most valuable assets to a guess?

Perseverance is a must. My attitude is never, never, never give up to get my clients what they want. Sometimes circumstances make it more of a challenge to help someone obtain their dream. Amazingly by not compromising and being committed to the dream assures success. I have seen it happen time and time again. The end result is my clients saying, "Thank you, Sheree! We are so happy you had the insight to make us stick with our dream. We got exactly what we wanted."

Attitude can make the difference. We have all heard that old saying, "A spoonful of sugar helps the medicine go down". I view acting positively is the medicine that works towards your goal when interacting with other agents, buyers and sellers and assures success every time. I love watching it unfold as everyone wants to feel good about things in the end.

Commitment to your goals is equally important. Focus, paying attention to the details, keeping apprised of market changes assure you of the positive result you want!

 

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A Marketing Plan That Works for You

My intention as your Realtor is to systematically expose your property to as many potential purchasers as possible. There are many tools necessary to make this process a success. You benefit from the experience and knowledge I have gained over the years in assisting hundreds of buyers and sellers.

SELLING?

What makes the system work for you?

PREPARATION - Preparing your property for sale made easy. A detailed evaluation of your home in its current condition will be provided. Systematic implementation of recommendations will excite buyers in your favor.

MARKET CONDITIONS - Evaluation of the market in relationship to your property is key. Ever changing market conditions an proper positioning of your property will promote agent and public awareness of value. Apprising you with consistent and regular analysis to determine the strength of positioning of your property in a fluctuating market helps you make informed decisions.

COMMUNICATION - I provide you with an environment of open communication. Promotion of your property with effective communication and marketing with the buyer's agents keeps your best interests in mind.

EVALUATION - Clear analytical evaluation of an offer and advertisement of possible options and various outcomes assist you in making clear decisions.

DETAILS - Opening escrow, diligent removal of contingencies associated with the offer and constant communication with lenders, agents and trades people make your closing a smooth easy process.

SUCCESS - Congratulations! You have sold your property, making your dreams come true.

 

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