BUY A HOUSE SO YOU WANT TO
GABRI ELLE ENFI ELD
THE BROKER YOU NEED IN PDX An overview of what to expect when you're ready to buy.
SIX STEPS TO REAL ESTATE SUCCESS
IT'S NUTS OUT THERE. BUT YOU DON'T HAVE TO BE
GET THE 411 ON GABRIELLE
CONTACT Living Room Realty 1636 NW Lovejoy Portland, Ore. 97209
(503) 388 2788 gabrielle@livingroomre.com www.livingroomre.com
BIO AT A GLANCE
WELCOME
Mul ti -mi l l i on dol l ar agent Top 4% of Oregon Brokers Marketi ng executi ve Non-Profi t program di rector Tel evi si on news personal i ty Mom of two and Ni ke wi fe
so good to see you.
Thanks for picking up So You Want to Buy a House. My hope is this magazine will serve as an extension of my passion and experience in real estate. Specifically, helping people fulfill dreams of purchasing a home. My 20 years of professional experience has taught me that the most important asset in business is trust. My goal is to be a steady guide through the real estate process and exceed your expectations. My promise is to be an advocate, an expert, and someone you'd recommend. And, we'll have fun.
I value your time and look forward to a successful partnership.
GABRIELLE ENFIELD Oregon Real Estate Broker
SKILLS Buyers' speci al i st Ski l l ed market strategi st Experi enced negoti ator Expert communi cati on
“HOME IS THE NICEST WORD THERE IS.”
― LAURA INGALLS WILDER
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WHAT'S THE DEAL WITH THE
ROSE CITY
111 people move to Portland every day. Annual home value appreciation on average 8.5% for last 5 years Median rent/month: $2,450 Average home purchase price of the Portland metro is $459,200 (*RMLS data) Most in-demand neighborhoods in Portland metro area: - Southeast Portland - South Beaverton - Northeast Portland - Tigard
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SIX STEPS TO REAL ESTATE SUCCESS
STEP ONE: GET PREAPPROVED
STEP TWO: MEET WITH A BROKER
STEP THREE: TOURING HOMES
Vital to your home
Tell me your must-
helps you get to know
search - you shouldn't
haves, like-to-haves,
neighborhoods and
make an offer without
and no way!, in a
amenities and
one. I am happy to
home. I will provide
solidifies your
offer lender referrals
the latest on market
understanding of what
should you need one. It
conditions and an
your money will buy.
provides confidence,
outline what to expect
Sometimes it only
buying power, and the
in the process. We're
takes looking at one.
knowledge of what you
going to spend a lot of
The average buyer
can afford.
time together!
sees eight homes.
STEP FOUR: MAKE AN OFFER
STEP FIVE: ENTER ESCROW
You'll have a clear
Once your offer is
STEP SIX: CLOSING AND KEYS
understanding of
accepted, we enter
Signing loan
comparable properties
the inspection period.
recently sold and
We learn about the
overall market
property from rooftop
conditions.
to foundation and
I will review the sale
negotiate for repair or
agreement with you,
credits, if needed. it's
and guide you toward
also when your loan
crafting the strongest
underwriting kicks off.
offer.
Don't make any big purchases or ding your
Where it gets fun! This
documents typically occurs two business days before closing. The funds are released and recorded with the county, and I get the pleasure of handing you the keys! High fives!
credit! SYWBH |
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GETTING ALIGNED ON WHAT YOU'RE LOOKING FOR
If more than one person is involved in the purchase of a home, it's super important you're aligned in what your'e looking for. Here are a few questions to answer and use to get there:
How does this floor plan suit my lifestyle? How does this home compare to others in same price range? Do I like the location and surrounding area? What 3 things do I like most about this home? What things about the home would I change were I to buy it? Is this a community I want to be part of? Rank in importance: Price Location Size Condition Features Schools
PUERTO PRINCESA SYWBH |
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WHADDYA WANT? PDX'S POPULAR STYLES
L: Foursquare - Two stories. Front porch. Magical. Found in NE, SE and SW. R: Dutch Colonial - Broad gambrel roof, with eaves over porches. Found in NE and SW.
L: Mid-Century Modern - Typically one level. Pitched ceilings and walls of windows. Notable local architect is Robert Rummer. Found in NE, SE and SW. R: Contemporary Modern - Often asymmetrical and use alternative material. Found in all quadrants.
L: Victorian - The painted ladies. Turrets, porches, fanciful and ornate Found in NW, NE, SE. R: Tudor - Heavy chimneys, stucco facade and medieval vibes. Look in NE, NW, and SW.
L: Bungalow - PDX's most popular style, AKA Craftsman. Porch columns, pitched roof and gabled ceilings. Found in all quadrants. R: LEED certified - Mostly new construction, styles vary. Uses highly efficient materials to be environmentally friendly.
WALK THE WALK THE NEIGHBORHOODS
As part of our house hunt, I will encourage you to walk, bike, drive and/or use public transportation in the neighborhoods you are drawn toward. Do your homework. Does it have the grocery store you love? Parks for the kids and pets? How's the coffee shop? Schools? What's your commute going to be like? Talk to the neighbors. Are you more Multnomah Village or Arbor Lodge? Each Portland neighborhood has its own distinct personality and correlating community. Need more detail? Ask me for a neighborhood guide.
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UPFRONT COSTS FOR BUYING A HOME
EARNEST MONEY
HOME INSPECTION
SEWER SCOPE
A minimum of 1% of sales price ($300,000 = $3,000) to be deposited with the Title Company typically within 3 business days of a mutually accepted offer. Earnest money is deducted from down payment, which is paid at closing, but won't go to seller until closing. Price ranges based on size of home, expect to pay $450 - $750. Fee is due at time of inspection, paid directly to inspector. Many accept online payments. This is a third party resource, I have several trusted partners I can recommend.
Used to determine functionality / clearance of sewer lines and system. Generally $100, paid at the time of inspection. If blockage is discovered, plumber may need to pull toilet or install a clean out (additional $100 - $250).
RADON TEST
A naturally-occurring gas that has proven to have carcinogenic effects. Can be mitigated by installing Radon system. $150 for test, paid by check or credit card. Some inspectors also handle Radon testing.
OIL TANK SEARCH
Old Portland homes were heated using diesel oil furnaces. If it's been decommissioned, we'll want to make sure it's not a hazard. $125 - $150 paid by check or credit card. Soil testing ($285) also may be required and depending on situation may be paid by Seller.
APPRAISAL
$500 - $750 - paid to Mortgage company. Required for financing. Completed by a 3rd party. SYWBH |
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BUT WAIT THERE'S MORE
LISTING SEARCH
GENERAL STATISTICS
Don't hesitate to send me what catches your eye. it helps hone the search
Lot sizes, permit histories, crime rates, school districts, sewer lines. All good things to know in advance.
realtor.com zillow.com trulia.com estately.com
portlandmaps.com
SCHOOLS
FOOD, ARTS AND TO-DO
TRANSIT
A deciding factor for a lot of my clients; what's the health of the nearby school?
Foodies, unite! So many vibrant neighborhoods with so much to eat, see and do.
ADDITIONAL RESOURCES
greatschools.org pps.k12.or.us niche.com
pdx.eater.com travelportland.com
Plan to be car-free? Want to know the best bike route? How Portland of you!
trimet.org walkscore.com
TALK THE TALK COUNTER OFFER
The response from the seller regarding an offer.
DEBT TO INCOME RATIO
A lender will evaluate whether a borrower's income is large enough to handle payments on existing debts plus mortgage.
DOWN PAYMENT
A percent of the cost of the property that is paid up front as a part of the mortgage. No longer a mandatory 20%!
EARNEST MONEY
ESCROW
A deposit from buyer to seller when submitting an offer. This is held in a trust by 3rd party. Upon closing, the money will be applied to the down payment or closing costs. This term has multiple meanings: earnest money is typically held in escrow. It can also be referred to as the time period from when contract is written and accepted to when the home actually closes. Typically this is 30 days.
EQUITY
The difference in the market value of a home versus what is owed on the home.
FHA
A mortgage that is financed through a private lender and insured by the Federal Housing Administration. Often requires lower down payment and income, but does require mortgage insurance (MIP).
FIXED RATE
The interest rate will remain the same for the entire life of the mortgage.
HOME EQUITY LINE OF CREDIT (HELOC)
A loan or line of credit your lender may offer, using your equity as collateral.
PITI
Principal, Interest, Property Taxes and Insurance
SHORT SALE
When the seller's lender is willing to accept an offer and allows sale for amount less than mortgage owed by the seller.
UNDERWRITING
Process where the buyer is evaluated for ability to repay loan. Includes a credit check, and appraisal of the property. SYWBH |
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ANNUAL PERCENTAGE RATE (APR) APPRAISAL
The percent of interest that will be charged on a home loan.Â
A report highlighting the estimated valued of property, completed by a 3rd party. This is typically done for the benefit of the buyer, by the buyer's lender, to ensure property is worth purchase price.
ASSOCIATION FEE / HOA
In addition to the mortgage, certain housing communities such as condos have a monthly fee associated with maintaining the common areas and amenities.. $50/mo in HOA diminishes your loan by $10k
BALLOON MORTGAGE
A long-term mortgage loan that starts small buy has a large payment due at maturity.
CLOSING
When the new title to the property is officially recorded by the County Recorder's Office and ownership transfers to the new buyer.
CLOSING COSTS
The buyer and seller have expenses associated with the transaction other than the actual cost of the home. Pre-paid taxes, fees, and transaction costs as well as loan processing for the buyer and commission paid to agents by the seller. Typically between 2 - 5% of loan.
CLOSING DISCLOSURE (CD)
A form with the final details about the mortgage loan. It includes loan terms, projected monthly payments and how much the additional fees will be. Needs to be released before the home purchase can close.
COLLATERAL
Something of value (in this case, your home) that is held to ensure repayment of a mortgage or loan.Â
COMMISSION
A percent of the sale price of the home paid to agents. The seller pays both buyer and listing agents. Buyers agents typically receive 2.5% of the sale price.
COMPARABLES
CONTINGENCIES
Homes in the area of interest that have recently sold, that have similar features. Demonstrates market value, Conditions that must be met in order to close. Typically tied to a date, referred to as a deadline. If the contingency is not satisfied, the contract may be cancelled. For example, you need to sell your home before you can buy another.
KEY PLAYERS YOU
TRANSACTION COORDINATOR You will see communication from Amber Blum, my transaction coordinator. She helps with documents, signatures and serves as liaison.
LENDER
Please decide in advance your preferred method of communication, and who the main point of contact will be (if more than one person is involved)
Your lender will be in regular contact with me and your team to keep apprised of loan status
ME
TITLE AND ESCROW
I will be the quarterback. Consider me your primary point for all questions and information.
Neutral 3rd party - they hold and process documents and funds related to the transaction
DATES AND GATES
24 HOURS
Typical turnaround time for an offer. Can take longer in competitive situations.
10 DAYS
Inspection period. Gather intel, negotiate repairs and agree to move forward or terminate
30
1
Typical timeline for sales agreement to closing.
Home warranty coverage, included in purchase and covers major systems and appliances,
DAYS
YEAR
3 WEEKS
Underwriting period appraisal, loan documents and processing with title
365+ DAYS
Consider me a resource before, during and after your purchase. Design help, contractors, resources, jobs, networking, restaurant reccos. I'm here for you.
YOU BOUGHT A HOUSE!
LET LABEL MAKERS BE YOUR FRIEND.
It sounds like a pain in the already tender
WE DID IT! OFFER IS ACCEPTED.
The adrenaline settles in. So does the, "Holy sh$t. Now we have to move!!" feeling. Here are a few pointers to keep you on
keister, but label each box with a
consecutive number and destination for your new home. e.g., #1 Kitchen. As you pack, make a list of the box #'s contents. DO THE SWITCHEROO.
track: START PACKING WHAT YOU USE THE LEAST. If it's summer, pack your winter clothes. If you haven't made cake pops in months, whip up a batch, then pack up the pan.
It will be in your new homeowners kit I'll provide, but be sure to let utilities, major accounts and workplace know your new address as soon as your move-in is finalized.
CONSIDER ME A RESOURCE BEFORE, DURING, AND AFTER YOUR MOVE. CALL ME WITH QUESTIONS, CONCERNS OR IF YOU NEED A GOOD CONTRACTOR. TAKING CARE OF BUSINESS.
MAKE IT YOUR OWN.
A couple weeks before move in, be sure
Immediately after move in, be sure to:
to confirm details with your moving
- Test all smoke detectors and CO2 alarms
company and on moving day, cross-
- Place a fire extinguisher on each floor
reference their DOT information. Pack a
- Reprogram garage door openers/pad
moving day/weekend suitcase with
- Change the locks
enough supplies to last a couple extra
- Find the circuit breaker and do a test run
days. Defrost the freezer. Service your
- Locate water and gas shut off
car and top off the tank.
- Make an evacuation plan
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A majority of my business is from repeat and referred clients. All my reviews are 5-star, and a positive client experience is what motivates me every day. Here's what a few clients had to say about working with me: LEE SAYS: JERAMIE SAYS
She was very attentive, proactive and professional
Within two weeks we had a
during the entire process.
contingent offer accepted
There are always little
on a new house and our
hurdles when buying a
house officially on the
home and Gabrielle
market. After back to back
handled those we
open houses we were
encountered with quick
reviewing 9 offers to
and decisive action. We
purchase our existing
beat out a higher offer due
home.
to her knowledge, patience, warmth and by
It was crazy and fast, and
creating a great
through it all, down to the
communication bridge
final signing and moving,
between us and the seller.
Gabrielle was always responsive and supportive. She spent time to get to know both of us, understanding and working with our different personalities and needs. She brought the tools and experience to help us
"SHE WAS A PRO WITH A PERSONAL TOUCH."
successfully and quickly
ALISON SAYS We were first-time home
buy and sell our homes -
buyers and Gabrielle was
over the holidays at that!
such a huge help through
Through the stresses of the
the entire process. She
negotiations, prepping our
immediately went to work--
house for sale, inspections,
got us help from the sellers
and other unknowns, she
on closing costs, got us
was a pro with a personal
under the asking price and
touch.
got all the necessary work covered and completed. Gabrielle was completely understanding that this endeavor can be stressful, and helped answer any and all of our questions (no matter how small) quickly and thoroughly.
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WHY LIVING ROOM? A COMPANY WITH HEART Our mission at Living Room Realty is to enhance every person’s capacity for success, well-being, creativity, and joy. As agents, we accomplish this by finding homes where individuals and families take root and flourish. We believe everyone deserves Room to Live. To us this signifies space and opportunity to make a fair living, with suffcient income to enjoy a life rich in experience; a place for fearless self-expression, unleashed with vigor and gusto; it’s a space to find one’s purpose and embody it in daily practice; it’s the comforting, secure environment from which we offer ourselves in service to others. When we ask, “Where’s your Living Room?” we pay attention to the answer. We apply the Golden Rule. We know what’s at stake, because we understand what our Living Rooms mean to each of us. As Living Room agents we are students of the ever-evolving real estate market. There is no room for complacency. We are tactically proficient, using the latest industry tools to achieve outstanding results. But we are also alive to the art and nuance of our profession. It requires patience, humor, intuition, persistence, and field experience to become a capable partner and guide to our clients. We are committed to the growth of neighborhoods that are energized, resilient, and peaceful. Our belief is that strong communities cultivate the core values of tolerance, equity, respect, collaboration, and good will. Our actions demonstrate the highest regard for these values. By investing ourselves in Portland’s tapestry of distinctive, community-minded neighborhoods, we seek to build a vibrant, diverse, urban landscape—a city which nurtures and sustains Living Room for All.
Gabrielle with friends and colleagues Scott Shoji and Carly van Aart
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"MAKING THE DECISION TO JOIN THE INCREDIBLE LIVING ROOM TEAM WAS ONE OF MY BEST, YET."
OUR VALUES DIVERSITY To promote, honor and embrace the culture within our community.
CONNECTION
To create meaningful and powerful relationships in our community.
INTEGRITY To honor ourselves and those around us by doing what we say and saying what we mean.
JOY
To cultivate joy through energy and gratitude.
BALANCE
To create achievement and enjoyment each day.
ABUNDANCE
To appreciate and value what we have in order to create true generosity.
EXCELLENCE To achieve excellence through distinctive client experience and service.
RELEVANCE
To seek relevance, beauty and meaning in all we do.
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NOTES
GABBING WITH GABÂ WHY REAL ESTATE? I spent 20 years in marketing and communications before I finally decided to listen to that "little voice" that had been traveling with me forever. Real estate is in my blood: my Dad designed and built custom homes. My Grandpa was a Realtor and developer. And for as long as I can remember when I go on neighborhood walks, I always look at houses first. I love what I do, and I think it shows.
BIGGEST WIN SO FAR? Helping great friends buy a beach home that they'd had their eyes on for a year, and it ended up being a competitive situation with the other offer being cash! I learned through the transaction that they were newly-engaged (they'd kept it secret from our posse of friends), and I was fortunate enough to be a part of helping frame their future and memories to come. High fives!
WHAT MAKES YOU DIFFERENT? Maybe it's the old news reporter in me, but I have a natural way of drawing people to share their story and create lasting relationships built on trust. People also often comment on my upbeat personality and good energy.
WHAT'S YOUR SUPERPOWER? I firmly believe I have Spidey Sense when it comes to thrift shopping. It's how I've decorated my eclectic, mid-century modern home, how I clothe my kids and me, and where I get supplied to re-imagine materials and turn them into wonderful treasures for gifts.Â
WHY LIVING ROOM? Having spent so long in brand marketing and communication, of course I realize the power and beauty of the Living Room Brand. Our company ethos, leadership, and camaraderie truly inspire me and make me so excited to get to work each day. The fact we are #1 in the Portland Metro is pretty OK, too.