November 2022 Newsletter: Buying and Selling Property in the Digital Age

Hi,

As we head into the holiday season, we're focusing on buying and selling property in the digital age. Marketing and selling real estate online has changed dramatically over the years, and we're here to share our expertise and smoothly guide you through an internet sale or purchase if you're considering this path.

This month we've got some exciting resources to share with you, including our new Preferred Vendor List. Here you can find 350+ local businesses and services that have been thoroughly vetted by our company using a multilayered approach.

We're also rolling out our annual Go Local Gift Guide, which is bigger and better than ever! If you're looking for gifts from local Portland retailers to amaze your family and friends, we've got something for everyone on your holiday list.

Our business highlight this month is Oregon Shines -- a local organization that helps reduce your carbon footprint and power bills by subscribing to a community solar project. Read how the program works below and reach out to Oregon Shines to get started today!

Enjoy the holiday season, and don't hesitate to reach out about all things real estate,

PARIS GROUP REALTY, LLC

Buying a House Online: Is It Possible?

It’s now possible to buy nearly anything you can dream of online, from clothing to groceries and even cars. But is it possible to go through the steps of buying a house from the comfort of your couch?

Yes, you can buy a home online – and in some circumstances, it makes a lot of sense. Let’s say you’re moving far away from your current residence. Buying a home online can allow you to find a new place to live without making lots of trips between your current and future towns.

We’ll walk you through some of the basic steps of online home buying. We’ll also introduce you to a few online real estate databases you can use to begin your home search.

Where To Search For Your Online Home
Ready to start exploring homes in a different part of the country? Use one of these websites – or their respective house-hunting apps – to begin your new homeowner search.

Zillow is one of the internet’s most trusted real estate database websites. Zillow contains a vast amount of information and enables you to quickly compare homes. You can search by ZIP code or city, set parameters on the types of homes you want to see, and view photos uploaded by the seller. Zillow is also available as an app.
Trulia is another real estate database listing site that allows you to shop for homes. You can sort homes listed on Trulia in similar ways as Zillow – using price, ZIP code, square footage, and more.
Rocket Homes® Real Estate LLC provides ratings of nearby schools, public data that’s available about neighbors living in the area, and popular places near the property you’re interested in. Rocket Homes has an app as well.

How To Buy A House Online
Now that you know where to search for a home, let’s take a look at the process you’ll go through when buying a house on the internet.

Step 1: Get A Mortgage Preapproval
The first step to getting a mortgage is to find a lender who can qualify you for a loan. If you want an online lender, remember to search for one who allows you to submit documents and sign agreements over the internet.

A mortgage preapproval is a letter from a lender that tells you how much money you can expect to get for a loan. Preapprovals are important because they give you a rough idea of how much you can afford to spend on a home.

Step 2: Find A Real Estate Agent
A real estate agent or REALTOR® is absolutely indispensable for online home buyers. Real estate agents are housing market professionals, and each one specializes in a different area. Your agent can help you navigate the market, learn about different neighborhoods, school ratings, property taxes and more.

Your agent can also act as your “eyes and ears” on the ground. They can tour homes on your behalf and send you pictures or show you homes via video call to fill in the gaps left by online listings.

Not only does working with an agent help with home tours from a distance, but they can be crucial in the real estate transaction process. Many agents have access to remote online notarizations or are able to arrange an in-home notary visit to sign closing documents.

Step 3: Shop For Homes
Once you’ve linked up with an agent you trust, you can begin shopping for homes. You can start your search with an online listing site, but you should also ask your agent for input. Create a list of all the ideal qualities you’re searching for in a home. You might want to consider:

The house style and type
Number of bedrooms
Types of appliances
Local school district ratings
Local property taxes
Home’s distance to public transportation (if you don’t drive) or available parking (if you do)
Whether the home has a pool, jacuzzi or spa
The home’s overall condition (do you need a turnkey property or are you open to making repairs?)

Step 4: Submit An Offer Letter
Congrats – you’ve found a home you love! Now it’s time to submit an offer letter. This will indicate to the seller that you want to buy their home, and under what conditions you’ll agree to the sale. You can also include details on any repairs that you want made to the property in your offer letter, as well as any concessions for closing costs you need.

Though you can write your offer letter yourself, it’s wise to let your real estate agent handle this for you. Your agent knows how to communicate with the seller in a way that puts your interests first. They also know when they need to use legal terminology that makes the contract binding. Work alongside your agent and submit an offer letter that fits your needs.

From here, your seller has three options. They can:

Accept your offer: The seller can accept the offer as-is with no changes to the sale’s terms.
Reject your offer: The seller can outright reject your offer. In this case, you’ll need to submit a new offer or move on to a different property.
Give you a counteroffer: The seller can counter your offer with a new one. In this case, it’s up to you to continue negotiations, accept the offer or move on.

Negotiating your home price can be a stressful and emotional process. Consult with your agent regularly for assistance and advice on how to negotiate.

Step 5: Prepare To Close
It’s time to proceed to closing once you and your seller reach an agreement. Here’s what you can expect.

Appraisal: Your mortgage company will assist you in scheduling an appraisal. An appraisal is a professional estimate of how much your home is worth. Appraisals are important because they tell the mortgage company they aren’t loaning you more money than your home is worth.

Underwriting: Your mortgage company will also finish underwriting your loan and verifying your financial information. This usually won’t involve you at all, but your lender might occasionally need to contact you for more information or documentation. Respond to these inquiries as quickly as possible to keep your closing on track.

Home inspection: You should schedule a home inspection before you commit to closing. A home inspection is not the same thing as an appraisal. An inspection tells you specifically what’s wrong with your home and what needs to be repaired. The inspection is crucial for online buyers because it tells you exactly what you’re getting into when you move in. Ask your agent to forward inspection results to you via email and review them before closing.

Step 6: Close On Your Loan
All that’s left to do is close on your loan and take control of your new home. Your lender will send you a document called a Closing Disclosure that lists the final terms of your loan. Review your disclosure, then proceed to closing.

The online closing process will vary from lender to lender. Some lenders may allow you to sign documents online and submit identifying information via email. Consult with your specific lender before closing to learn about what you’ll need to do to finalize your sale and get your keys.

The Bottom Line On Buying A House Online
Buying a home online can be difficult, but it isn’t impossible. First, you’ll want to find a lender who services mortgage loans online and get a preapproval. Then, get in contact with a trustworthy and reliable real estate agent based out of the area you want to move to. Shop for homes both online and through your agent.

Make sure you’re 100% ready to commit to a home before you make an offer. Your real estate agent can help you draw up a solid offer letter and negotiate with your seller. Follow the specific instructions from your lender to close remotely.

Article Source: Victoria Araj, Rocket Mortgage (edited for length)

Ready to get started on your house hunt from your couch? Contact us today at info@parisgrouprealty.com or (503) 926-5213.

Oregon Shines

Solar Made Simple: Reduce your carbon footprint and your power bills by subscribing to a community solar project through Oregon Shines.

Whether you are a renter or a homeowner, community solar gives you the opportunity to support local solar projects while saving money on your existing utility bill. Oregon Shines connects customers of Portland General Electric and Pacific Power with community solar projects in your area. Lead your community towards a cleaner, brighter future and save money while doing so. It's a win for the planet and your wallet.

Local and Affordable
Oregon Shine’s Community Solar Projects are built locally which means new clean energy on the grid. Because projects are built here in Oregon, all benefits will flow to you, your community, and Oregon as a whole. All with no upfront costs, no onsite installation, and no ongoing maintenance.

Getting Started
Signing up is easy! It just takes a few minutes to switch to renewable energy with no sign-up fees and no upfront costs. You don’t have to be a homeowner to participate - you just have to have a utility bill in your name. Sign Up Now

Special Promotion: Through the end of the year, Oregon Shines will make a $25 donation to Habitat for Humanity Portland Region for each new subscriber that references Paris Group Realty, LLC, when they sign up.

Learn More
About Oregon Shines
How It Works
Referral Program
Business Sign Up
Contact

Sunnyside Neighborhood

Located in southeast Portland, the Sunnyside Neighborhood is surrounded by Buckman, Kerns, Laurelhurst, Mount Tabor, and Richmond neighborhoods. Sunnyside boasts charming homes, unique shops, and plenty of restaurants. This lively area, which has a high walkability score, includes the Belmont and Hawthorne Districts.

There are a lot of great old homes here that date back into the early 1900s and even before! You'll find mostly Four Squares, Victorians, Craftsman, Old PDX and Bungalows - many with leaded glass windows, ornate woodwork and built-ins and a lot of character and charm. Rentals are also mixed in as the Sunnyside Neighborhood is located right in the middle of Hawthorne and Belmont - but many homes have been restored to their former beauty and completely remodeled.

Would you love to own one of these beautiful homes? Contact us today at info@parisgrouprealty.com or (503) 926-5213 and one of our agents will take you on a tour of the neighborhood!

Learn More
Read the Press Release

We're honored to congratulate our company's Owner and Principal Broker, Claire Paris, as an official winner of the Homesnap Top 5% Award for the first half of 2022.

Homesnap looked at the data from the first half of 2022 for over one million Homesnap Pro agents nationwide, and Claire was one of the select few to win a Top Agent Award! This distinction is based on her productivity over the past six months.

Our company takes pride in using a thoughtful and personal approach to real estate, and we look forward to helping make all your property dreams come true!

Reach out to us at (503) 926-5213 or info@parisgrouprealty.com today to discuss selling or buying a home!

Considering Selling or Buying a Home?

A home is the biggest purchase you'll most likely make in a lifetime. Whether you're a first-time home buyer or a seasoned property investor, we are here to smoothly guide your home buying journey and help you feel confident about your real estate investment.

The holidays are a great time to stage your home to create a cozy ambiance that will appeal to prospective home buyers. We've got some really affordable ideas you can easily put in place prior to listing that will help get top dollar for your hard-won investment.

Reach out to us at (503) 926-5213 or info@parisgrouprealty.com and let's get started today!