BUY A HOUSE SO YOU WANT TO
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2O .ON EUSSI
GABRIELLE ENFIELD 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
Multi-million dollar agent Marketing executive Non-Profit program director Television news personality Mom of two and Nike wife
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' specialist Skilled market strategist Experienced negotiator Expert communication
“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: $2,150 Average home purchase price of the Portland metro is $430,100 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, and would like-
neighborhoods and
make an offer without
to-haves in a home. I
amenities. Sometimes
one. I am happy to
will provide the latest
it only takes looking at
offer lender referrals
on market conditions
one. The average
should you need one. It
and an outline what to
buyer sees eight
provides confidence,
expect in the process.
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
comparable properties
the inspection period
recently sold.
(I'll handle the details)
I will review the sale
We learn about the
agreement with you,
property from rooftop
and guide you toward
to foundation and
crafting the strongest
negotiate if needed.
Where it gets fun! This
buying power, and the knowledge of what you can afford
offer.
Signing loan 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!
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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? Rank in importance: Price Location Size Condition
PUERTO PRINCESA SYWBH |
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UPFRONT COSTS FOR BUYING A HOME
EARNEST MONEY
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
HOME INSPECTION
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.
SEWER SCOPE
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
$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
$400 - $500 - paid to Mortgage company. Required for financing. Completed by a 3rd party.
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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.
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.
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.
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.
COMPARABLES
Homes in the area of interest that have recently sold, that have similar features. Demonstrates market value,
CONTINGENCIES
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.
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
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.
ESCROW
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.
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.
PRINCIPAL
The underlying amount of the loan which is actually borrowed.
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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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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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.
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 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.
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. 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. A couple weeks before move in, be sure to
MAKE IT YOUR OWN. Immediately after move in, be sure to:
confirm details with your moving company
- Test all smoke detectors and CO2 alarms
and on moving day, cross-reference their
- Place a fire extinguisher on each floor
DOT information. Pack a moving
- Reprogram garage door openers/pad
day/weekend suitcase with enough
- Change the locks
supplies to last a couple extra days. Defrost
- Find the circuit breaker and do a test run
the freezer. Service your car and top off the
- Locate water and gas shut off
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 in my career. Here's what a few clients had to say about working with me: LEE SAYS: JERAMIE SAYS: Within two weeks we had a contingent offer accepted on a new house and our house officially on the market. After back to back open houses we were reviewing 9 offers to purchase our existing
She was very attentive, proactive and professional during the entire process. There are always little hurdles when buying a home and Gabrielle handled those we encountered with quick and decisive action. We
home.
beat out a higher offer
It was crazy and fast, and
patience, warmth and by
through it all, down to the final signing and moving, 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 successfully and quickly buy and sell our homes over the holidays at that! Through the stresses of the negotiations, prepping our house for sale, inspections, and other unknowns, she was a pro with a personal touch.
due to her knowledge, creating a great communication bridge between us and the seller.
"SHE WAS A PRO WITH A PERSONAL TOUCH." TARYN SAYS: The house we felt was best turned out to be a bad investment and Gabrielle helped to get us out of it safely and into our dream home. She found the house for us within hours of being on the market, we saw the house hours later and put in an offer within 24 hours. Our work schedules were crazy, but she hand delivered a gift after we got our keys. She really made the experience a good one
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GABBING WITH GAB 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. It's been the best decision ever.
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 newlyengaged (they'd kept it secret from our posse of friends), and it's great to know 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.
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.