Cooper Realty Blog

1. Get pre-approved & provide proof with your offer. Before even looking at your next dream home this should be the first step. This allows you to show the seller of a home that you have the financial means to back your offer. But also it will give you and your real estate broker a budget to work within.
2. Offer more earnest money. Offering 1%-2% is common when offering earnest money, however offering more can indicate to the seller that you are serious. Just keep in mind that this money can be at risk if you back out. Discuss with your broker writing contingencies into the offer that can protect you.
3. Find out why the seller has listed the property. Sometimes price isn’t the only motivation for a seller. This is where your expert real estate broker help you find out if the sell may accept a shorter close or if buyer is willing to forego repairs.
4. Make the offer as clean as possible. When your broker writes your offer be transparent about what you can and can’t do. If you need to sell your current house first let your broker know prior to writing offers so that they can be clear and concise when writing your offer.
5. Submit a letter with your offer. This is the way to give your offer a personal touch. It doesn’t have to be formal. You can simply explain your intension for the home. Buyers will even include a family photo to show who will be living in the house. This has been a great debate in the State of Oregon. On June 8, 2021 House Bill 2550 was passed that banned these letters. However a federal judge ruled this bill was unconstitutional because it infringes on the First Amendment Rights. This is something you can discuss with your real estate broker.
6. Consult with your Real Estate Broker! The last tip and possibly most important is to work with you real estate broker and consult with them prior any showings. This way when you find that dream home; you are prepared to make the offer that is accepted.

Did you know well-placed furniture can open up rooms and make them seem larger than they are? Or that opening drapes and blinds and turning on all lights make a room seem bright and cheery?

It's a fact: acquiring the highest market value and elevating your home above others in the same price range often comes down to first impressions.

Here are some inexpensive ways to maximize your home's appeal

Exterior 

• Keep the grass freshly cut.
• Remove all yard clutter.
• Apply fresh paint to wooden fences.
• Paint the front door.
• Weed and apply fresh mulch to garden beds.
• Clean windows inside and out.
• Wash or paint home’s exterior.
• Tighten and clean all door handles.
• Ensure gutters and downspouts are firmly attached.

Interior

• Remove excessive wall hangings, furniture and knickknacks (consider a temporary self-storage unit).
• Eliminate overly personal items.
• Clean or paint walls and ceilings.
• Shampoo carpets.
• Clean and organize cabinets and closets.
• Repair all plumbing leaks, including faucets and drain traps.
• Clean all light fixtures.

For Showings

• Turn on all the lights.
• Open drapes in the daytime.
• Play quiet background music.
• Keep pets secured outdoors.
• Light the fireplace (if seasonally appropriate).
• Infuse home with a comforting scent like apple spice or vanilla.
• Vacate the property while it is being shown

Ernest Cooper

Cooper Realty’s amazing Realtor and Social Media Manager recently asked all of us here at CR to write a brief about our favorite neighborhood in or around Portland. 

I’ve been the tardy one.  Reason being; there are so many wonderful areas in and around Portland, that due to my fantastic job, I get to explore and be a part of with my buyers and sellers. 

Therefore, I took a walk down memory lane and came to the conclusion that while Scott and I are blessed to live in The Alphabet District, which is a walkable, and eatable (is that a word?) my favorite neighborhood is The Pearl District.

I loved that I could walk out the front door of my building and what wasn’t there?????  Starbucks was right across the street.  There was a gourmet restaurant in our building.  Our gym was two blocks away.  Scott had to walk ½ a block to on the streetcar.  Scott once commented to me (we lived on the 6^th and 7^th floor of the building) that because he worked on the 6^th floor of a building downtown, that he lived the majority of his life six stories in the air.  Safeway was four blocks away.  Whole Foods was several street car stops up the street.  There was a park adjoining our building’s property line.  I spent many an afternoon, when not working, sitting in the grass reading or working on needlepoint.  Another sweet memory is the friends we had in our condo building.  We moved in as one of the building’s first residents along with a very small group of people.  Imagine living in a 125 unit plus building with only four or five other neighbors….it was odd for a while.  Anyway, we became the “adult dorm” even to the extent of having keys to each other’s homes.  Need a stick of butter????  Don’t have it.  Go upstairs or downstairs to one of our friends condo’s, not home?  Well, we’d just go in and borrow, leave a note and replace it later.  We are still close to several of our old “dorm” mates.  The only reason we moved was we had a 1,500 SF loft with no bedroom (no privacy) and no patio(we couldn’t BBQ) and Scott wanted a house.  And you all know, when Scott’s happy, we’re all happy!!!!!  LOL!!!!!  

So, Rachel, I’d have to say The Pearl.  And, it might just be because of the fond memories of friends and family………

Joseph Lyons

Although named after a insane asylum that moved over a century ago, Hawthorne Boulevard isn't a crazy place to call my favorite in Portland. At one end, an iconic bridge frames the Willamette River, where my favorite relay race, Hood to Coast, has a major team exchange of runners. At a few blocks into town at SE 9th, Helium Comedy Club features headliners like Greg Proops, Aisha Tyler, and Doug Benson. Heading up between 12th and 20th is one of Portland's most distinct mini-hoods, Ladd's Addition, with its diagonal streets, a central rose garden, and homes  of various styles under a rich elm tree canopy. Those elms require annual inoculation from disease - poor trees! 

At 30th, the Boulevard begins a 20-block stretch of small and large retail stores, restaurants, bars, cafes, liquor stores and weed shops. My personal favorite place for breakfast in the whole city is Cup and Saucer at 36th - the Tofu Scramble with their garden sausage is so tasty - and I'm not even vegetarian (side tip: get the vanilla scone along side). For lunch, a slice of pepperoni pizza and a beer at Oasis Cafe at 37th is a great small lunch. And for dinner and a show, McMenamin's Bagdad is a perfect place for their High Pasta and a first-run movie. You'll find everything on your list at Freddie's at 39th, but if you park on top on a clear day, you'll get a great view of Mt. St. Helens (where my grandpa took me to watch the explosion in 1980!) And I could spend hours at Powell's on Hawthorne - it's got every bit the heart of the downtown location with out all the... downtown.

Between 39th and 50th, the Boulevard shows signs of change. New apartment buildings and evolving properties have seen some long time businesses close to make room for larger apartments and taller development. And right at the intersection with 50th is the Sapphire Hotel - a cocktail bar in the bar of a former hotel. The Boulevard is beautifully framed to the east end by Mt. Tabor - one of 32 volcano cinder cone buttes in the metro area! Trimet bus number 14 makes frequent stops from end to end, and into downtown. 

Rachel Bernhardt

My very favorite neighborhood in Portland is the one that I both live and work in- Nob Hill. Growing up in the West Hills suburb of Portland, we attended Temple Beth Israel on 19^th and Flanders and would spend Sunday afternoons grabbing lunch on 23^rd and exploring all of the shops. I’ve lived in Nob Hill since 2012 and love the fact that there are so many great restaurants and bars and places to go within such a short walk. Living here I’m never at a shortage of things to do or places to go, and the fact that I can walk to the office is definitely an added benefit!

Ben Banner

The Powellhurst-Gilbert Neighborhood is an old farming community that was settled by pioneers, from the Oregon trail in the 1800’s, who were eager to take advantage of the Donation Land Claim Act.  Powellhurst-Gilbert lies about 10 miles east of the city center and is incredibly diverse.  There are an abundant mix of restaurants offering foreign cuisine and it is home to the Fubonne Shopping Center; the self-proclaimed largest Asian shopping center in Oregon!  Powellhurst-Gilbert is in the David Douglas School District and has low crime relative to the rest of Multnomah County.  The neighborhood has a community garden and 4 city parks that total over 21 acres.  Powellhurst-Gilbert is adjacent to the over 600 acre Powell Butte Nature Park and also claims 23 acre Kelly Butte Nature Park as it’s own.  Division, Powell & Holgate Streets feel very urban, but most of the area is residential space.  People who live here have easy access to the city, yet still enjoy quiet streets and a slower pace. 

Natalie Faciane

Multnomah Village has been one of my favorite neighborhoods even before I moved to this small pocket of Portland. This community-oriented village, formed in the 1910s around a former depot of the Oregon Electric Railroad, offers the old look and charm with newer shops and restaurants.  The "Village" lies between SW 45th Ave. in the west, SW Capitol Hill Rd. in the east, SW Vermont St. in the north, and I-5 in the south. This suburban area offers walking trails through the neighborhood including Gabriel Park that offers a dog park, tennis courts, skate park, and beautiful trails that lead you with a creek to the shops on Multnomah Blvd and Capitol Highway. At "First Friday" you can enjoy special events and late hours for eating and shopping.  Village staples such as O’Connor’s, offering live music, and Marco's Café are both known for their locally sourced ingredients. If you are looking for a friendly recommendation of a must read novel, Annie Bloom's Books never disappoints. Medley Café and Tea House and Prosperity Pie Shoppe both offer great breakfast, brunch and lunch with gluten free options. If you walk down capitol highway you can explore all the gift and craft shops with a few twists. Eventually you will end in front of the Multnomah Arts Center that offers the community with a range of sports, activities and classes. If you decide to bring your furry friend to explore, you can go get a slice and a pint at the Lucky Labrador Brewing Company.  You can really get a feel for this neighborhood and its inhabitants by coming to Multnomah Days scheduled for August 19, 2017,  which is a large block party with special activities and booths.

An important part of making an offer includes determining how much to offer for your earnest money deposit. The earnest money is offered to the seller as a sign of good faith and proof that the buyer has skin in the game. It reinforces to the seller that the buyer making the offer on their home is serious, and will complete the purchase once the offer has been initiated and all contingencies like inspections and appraisals have been satisfied. This earnest money deposit is customary and should be weighed seriously before submitting your offer since the seller may be able to keep your deposit money if you pull out of the deal for a reason that isn’t allowed under the purchase contract.

In Portland, the earnest money amount is typically between about $3,000 and $10,000. Cooper Realty recommends not going above $10,000 because that will take you out of small claims court if there is an earnest money dispute between the buyer and seller. Technically the earnest money amount can be as small as a penny- for the contract to be legally binding there must be some “consideration” attached. However, offering a more substantial earnest money deposit shows the seller that you are serious about purchasing the home.

The amount of earnest money you are offering is part of your down payment- think of it as a pre-payment of your down payment. So if your total down payment is $50,000 and you are providing $5,000 in earnest money, at closing you will pay the balance, or $45,000. During the transaction the earnest money sits in escrow, the neutral third party to the transaction, so that it is in safe, impartial hands until it is distributed at closing.