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Market Update  |  September 2024
A lot of people use the new year as a time to reset, but for me, September feels like the perfect time. With summer coming to an end, our lives start to shift - kids head back to school, summer clothes are swapped out for cozy fall layers…even our routines shift - whether it’s moving workouts indoors or switching up what we eat. It just feels like the right moment for a refresh!
 
And let’s not forget, it’s also a great time to explore the real estate market with more inventory and better interest rates! Whether you’re looking to buy, sell, or simply invest, this season offers opportunities to make moves before the year ends. As always, I’m here to help with any changes, especially when it comes to your home!
Meg Barrett

Market Update
3 Things You Should Know
 
As someone who is always searching for opportunities for my clients, regardless of the market, data is often times the key. On a national level, I found 3 trends that I think are important for my clients who may be considering entering the market as either a buyer or a seller.
 
· 36.2% More Homes Available: The highest level of listings since 2020 means more options for buyers and more visibility
for sellers entering the market.
 
· 19.3% Price Reductions: Nearly 1 in 5 homes saw price cuts, giving buyers a chance to find great deals.
 
· Mortgage Rates Dropping: Rates hit their lowest point in 18 months at 6.35%, and they may fall further this fall.
 
There are many factors to be considered, and I want to make sure we take the best course of action for your long-term goals. I welcome the opportunity to discuss your goals and give context to how these three trends, combined with developing a solid plan can help you capitalize on the opportunities becoming available our the local market.
ADDITIONAL HOUSING MARKET RESOURCES
August Portland Market Summary - WFG Market Update
August Statistics for the Portland Metro Area - RMLS Market Action Report
August Statistics by Zip Code - By the Numbers Report
 
 

 
Below are a few tips to help you stay in sync with the season. This can be a great time to revisit personal or professional goals, reorganize your space, or start new projects possible go attend a new event.
 
PREPPING YOUR HOME FOR FALL
As the leaves start to change color and the temperatures decline, the fall season brings a new list of home-upkeep projects. Here are some suggestions to help get you started:
 
GUTTERS / Clean your gutters to make sure your downspouts won’t get clogged, which could lead to damage if neglected.
 
LEAKS / Check for leaks on your roof, in your basement, and in your plumbing. Any moisture in unwanted spots is a giveaway that a leak has sprung.
 
SERVICE HEATING & COOLING SYSTEM  / Fall is a great time to have your home’s heating and cooling systems serviced, ensuring they’re in fine, working order before more extreme temperatures arrive.
 
WEATHERPROOF YOUR HOME / Replace any outdated weatherstripping, insulate your basement and crawl space, and consider upgrading your windows if they are in need of replacement.
 
FOUR PLACES TO ORGANIZE INSIDE YOUR HOME
It's time to declutter and organize your space in preparation for fall and winter. Trying to get your whole home tidy can be daunting. So break it up, focusing on four areas that make the biggest difference. 
 

 
Fall Events Around Portland
 
 
 
 

The Art of Downsizing
with the help from your trusted Real Estate Broker
 
Has the thought of a retirement community crosses your mind for yourself and or a loved one? I'm thrilled to connect you with wonderful resources tailored to your needs and preferences. Exploring retirement living options can be an exciting journey, and having access to the right information makes all the difference.
 
Check out this fantastic resource to guide you on this path!
 
 
My work in real estate is about helping people optimize their lives. Sometimes this takes more than knowing the market. When clients are downsizing, my experience with the emotional and logistical aspects of the transition makes for a more seamless move.
 
When a house holds the memories of a lifetime, and clients feel connected to a neighborhood and a community but need a fresh start in a new place, the transition can be emotional and challenging. I love to be present with my people. It brings me joy to honor the history and life of a client’s home, let the home shine, and support my client in all aspects of the move.
 

 
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