Crazy Good Seller’s Market – Real World Examples
Statistics may capture our attention, but nothing is more validating than when your next-door neighbor tells you they just sold their home for $100,000 higher than you would have imagined. Today, we are starting to hear about homes seeing appreciation of 6, 10, or 18% over the prior twelve months, but it is not until you see the actual sales price that you recognize the power of leverage in real estate.
There are a variety of 2021 ELEETE sales that provide a tangible picture of the wealth gain that these owners achieved over a very brief period. We have seen crazy, ELEETE in fact represented one seller and orchestrated a final sales price that was $750,000 over the list price, and just today, as I draft this article, we received an offer on a listing $215,000 over the asking price. Both offers were cash. But rather than focus on “one-off” home run stories, we wanted to provide some of our real world, actual Portland, Oregon examples. These sales truly tell the story, and none of these homes were significantly improved or remodeled between sales 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 yars.
- 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.
The stories are endless right now, as seems our incredible appreciation. What we all hear from childhood on is, “what goes up, must come down.” The economy is known for cycles and right now we are in the longest sustained up cycle in modern times. Only you know when it is best to sell and “cash in” on your home, but all signs suggest that today is clearly one of the best times to be a seller in the history of Portland real estate.
While we are eager to serve, part of our passion is to ensure you have a home to move to. Finding your replacement property is the challenge right now and we know how to find that home. If you have a plan in place and know where you will be moving to or staying in the interim, then selling today may be a brilliant strategic decision in your life plan – “Buy Low – Sell High.”
It all starts by having your ELEETE Agent come to your home to confirm the condition and updates of your home. From there, we look forward to hosting you in our office, or over a zoom call, to present you our ELEETE Price Report. This tool will arm you with the data you need, utilizing 15 to 20 Active, Pending, and Sold Properties, and then making up to 100 adjustments to dial in your potential value. Take a good look at these example properties and do the math. Your windfall may be one call away as we look to create a bidding war for you.