Swiss Company coming to Portland

Swiss battery-maker ReVolt Technology announced on Thursday that it had received a $5 million federal stimulus grant which the company will use to move forward on its plans for a Portland manufacturing operations and research center. Meaning jobs for our locals.

ReVolt Technology announced last September that it had chosen Portland, Oregon for its United States Headquarters, where it would eventually employ approximately 250 people in a research and manufacturing operation to develop zinc-air batteries that can be used in electric vehicles and other applications. 

James P. McDougall, CEO of ReVolt Technology, said the company had set up an initial Portland office and had began looking for a larger site.  Now, with this Recovery Act stimulus award, they are in the planning stages for their facilities for the manufacturing and research operations.  The initial planning will continue for the next few months and McDougall is confident that he will have the U.S. operational team in place in Oregon by October 2010.

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Mistakes a Seller Can Make

When a homeowner makes the decision to sell their home, there are many factors to consider and some mistakes to avoid.  What price should I ask?  Should I use a Realtor?  Should I go ahead and replace that old carpeting in the den?  There are many questions with many different answers.  The following are some of the mistakes that many sellers make and insist on going ahead with unproven and unwise selling strategies, instead of listening to the sound advice of an experienced real estate professional. I have listed 7 important items that every seller should consider:

1 The proper presentation of the house is everything, so any work that has not been completed in the house, needs to be finished and completed before starting the marketing process.  This includes any painting that has been started, or wallpapering, any remodeling, etc.
 
2 Do not over improve the house with anything that will ‘stand out’ as being over improved for the neighborhood.  Don’t add on rooms or upgrades that will be an obvious over improvement for the area.  Your Realtor is aware of the current ‘sold’ prices in the neighborhood and can help with this.

3 Hire a Realtor or real estate professional who has a proven tract record of getting homes sold and one who knows the community and especially the neighborhood.  Then listen to what they are advising you as far as a marketing plan.

4 Price the home based on the market, not what you want to net out of the deal.  A seller can control the asking price, but only the market controls the actually selling price.  Your Realtor can help with this as they are very familiar with what is being sold in the neighborhood, what the houses are appraising for, etc.

5 Once you decide to sell your house, it’s no longer a home, but a commodity.  Don’t get involved emotionally in the sale of your house.  It needs to be prepared as a commodity, marketed as a commodity, and priced as a commodity.

6 Get all of your ducks lined up when you’re ready to sell.  This involves financing, and knowing what your current loan fine print say about assumption, any pre-payment penalties, etc.  Also know what the market is doing, the current neighborhood appraised values, etc.  Your real estate professional can help with much of this. 

7 Do not cover up any existing problems with the house, and be ready to disclose any known problems. Just because you disclaim doesn’t mean you cannot be sued later for the leaky basement, or dilapidated heating/air system that’s discovered 30 days after settlement.  Again, your Realtor can help advise you on this.

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Buyers Market

It can be a very confusing time for first time home buyers. As they say, it is the best of times and the worst of times. But one thing is for sure. It is a buyers market.

There are so many foreclosed homes and short sales, which can be very good purchases. I do caution you; you need an experienced Realtor in these complicated times.  If you are in the Vancouver/Portland area, I will be happy to assist you. If you are in another area, perhaps I can help by referring you to one of my trusted associates.

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Along with Spring Comes Termites

Termites are swarming right now, so it is a great time to do a self inspection of your home.  If you have them and you probably do, you will be able to spot them or their tunnels.

A suggestion:  If you are purchasing a home, insist on the building being fumigated. No matter if paper work says it was exterminated a year ago, insist on it.  Remember this process also rids the building of all other little residents. And be  sure you have a profession of your choosing inspect for damage and then fumigate.

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What’s My Real Estate Really Worth?

How much is your real estate—your house, condominium unit, cottage, income property really worth in today’s real estate market? Today more than ever anyone who is contemplating selling real estate property should seek the professional advice of their local Realtor and their expertise in this field. Many people use any number based on some figure they have heard from a neighbor, or seen in a local newspaper, when in fact, the real number should be lower or even higher.  Only a real estate professional has the real figures of what properties have sold for or are on the market for.  Although there is no set definition of what a market evaluation should include, there are a few basic ingredients that can be useful in evaluating the true value of the property that you want to sell. Analyzing actual property sales for your neighborhood, or area, and for properties similar to yours in surrounding neighborhoods will provide solid ground for establishing value.  All of the listings which terminated at the end of the usual thirty to ninety day period without a sale. The expired listings are typically considered to be over-priced for the market, based on the condition of the property and current buyer patterns. These listings can also represent insight into marketing strategies to avoid or to adopt in your area.  If your property were listed, how would it compare with the other houses or condominiums that buyers who are shopping in that location, or that price range, would be shown?

It’s the buyers’ needs, wants, and what’s “in,” not sellers’ costs, that determine the value and sales price.  Repairs, modernizations and improvements to your property can boost value. The real estate professional will offer some simple, cosmetic suggestions and others which may involve investment with a predictable return. Listening to these suggestions is the beginning of learning to separate pride of ownership from investment realities. What you love is not necessarily what buyers will pay top dollar for in your location. For instance, a swimming pool can devalue a property in some neighborhoods. In others, this amenity is highly prized.

Using the guidelines I have listed will help you to decide the true value of your property and help to place a realistic sales price.  You’ll be led through the process of determining a range of value for your property. The real estate professional will explain why market value is a range rather than an absolute value. The relationship between that value and property-tax market value will also be discussed since local variations are significant. The value range will be evident to you after this buyer’s-eye-view evaluation. It’s not the list price, or even market value, but what you would net, or keep in your pocket, that is really important. Typical costs will help you fully appreciate what value in an offer will mean to you.

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