look into your future
What to expect when you're ready to buy
six steps to home buying magic
it's BAnanas out there: how to avoid market slip-ups
talk the talk - terms to know
your real estate magicians: get the scoop on gab & lydia
WELCOME
We're glad you're here.
Thanks for picking up Look Into Your Future. Buying a home is more than a financial transaction- it's a life-changing event. GOOD FOR YOU! Whether you're ready to make a move now or just wondering what's possible- we're here to help you make your real estate dreams come true.
With deep roots in our communities and longtime careers spanning professional realms, we bring a cadre of resources to our clients that extends beyond the transaction and the traditional.
We call ourselves Working Magic because it’s magic that brought us together, and we hear from our clients that's what we do. We want to bust down the stereotypes of who Realtors are and how they serve. We are in it for the long haul and believe in the relationship imperative. We operate from a place of trust with humans at the center of all we do - without it, we can’t do our work.
Our goal is to be steady guides through the real estate process and exceed your expectations. We promise to be advocates, experts, and someone you'd recommend And, we'll have fun.
Working Magic Group at Living Room Realty
2050 NW Lovejoy
Portland, Ore.
97209
What's the deal with
rose
city
A combined nearly 40% of all inbound migration to Portland is coming from other west coast markets (Seattle 19.3%, Bay Area 16.7% and Los Angeles 14.7%).
Annual home value appreciation on average 8.5% for last 5 years
Median rent/month: $1,850
Average home purchase price of the Portland metro is $ 548,400 (*RMLS data), up 4.8% year over year
Most in-demand neighborhoods in Portland metro area:
- North Plains
- Cedar Hills
- Kerns/Laurelhurst
- Lake Oswego
- Mt. Tabor
six steps
to real estate success
step one:
get pre-approved
Vital to your home search - you shouldn't make an offer without one. We are happy to offer lender referrals should you need one. It provides confidence, buying power, and the knowledge of what you can afford.
step two:
meet with a broker
Tell us your must-haves, like-to-haves, and no way!, in a home. We will provide the latest on market conditions and an outline what to expect in the process. We're going to spend a lot of time together!
step three:
touring homes
Where it gets fun! This helps you get to know neighborhoods and amenities and solidifies your understanding of what your money will buy.
Sometimes it only takes looking at one. The average buyer sees eight homes.
step four:
make an offer
You'll have a clear understanding of comparable properties recently sold and overall market conditions. We will review the sale agreement with you, and guide you toward crafting the strongest offer.
step five:
enter escrow
Once your offer is accepted, we enter the inspection period.
We learn about the property from rooftop to foundation and negotiate for repair or credits, if needed. it's also when your loan underwriting kicks off. Don't make any big purchases or ding your credit!
step six:
closing and keys
Signing loan documents typically occurs two business days before closing. The funds are released and recorded with the county, and we get the pleasure of handing you the keys! High fives!
puerto princesa
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/our lifestyle?
How does this home compare to others in same price range?
Do I/we like the location and surrounding area?
What 3 things do I/we like most about this home?
What things about the home would I/we change were I/we to buy it?
Is this a community I/we want to be part of?
Rank in importance:
Price
Location
Size
Condition
Features
Schools
WHADDYA WANT?
PDX's popular Home 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.
THE CITY OF ROSES
the neighborhoods
As part of our house hunt, we 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? Public transportation? 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 us for a neighborhood guide.
UPFRONT COSTS
FOR BUYING A HOME
EARNEST MONEY
HOME INSPECTION
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 $850 - $1,250. Fee is due at time of inspection, paid directly to inspector. Many accept online payments. This is a third party resource, we have several trusted partners we can recommend.
SEWER SCOPE
Used to determine functionality / clearance of sewer lines and system. Generally $150, paid at the time of inspection. If a blockage is discovered, a plumber may need to pull the toilet or install a clean-out (additional $100 - $250).
RADON TEST
OIL TANK SEARCH
APPRAISAL
A naturally-occurring gas that is proven to have carcinogenic effects. Can be mitigated by installing a Radon system. $150 for test, paid by check or credit card. Some inspectors also handle Radon testing.
Old Portland homes were heated using diesel oil furnaces. If a tank is present, we'll want to make sure it's been decommissioned & is 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.
$750 - $1,250 - paid to Mortgage company. Required for financing. Completed by a 3rd party.
there's
more!
but
wait
Here are some additional resources FOR YOUR SEARCH
listing search
Don't hesitate to send us what catches your eye. it helps hone the search.
realtor.com
zillow.com
trulia.com
estately.com
general
statistics
Lot sizes, permit histories, crime rates, school districts, sewer lines. All good things to know in advance.
portlandmaps.com
food, arts, & EVENTS
Foodies, unite! So many vibrant neighborhoods with so much to eat, see and do.
We're always happy to recommend our favorite spots!
pdx.eater.com
travelportland.com
schools
A deciding factor for many of our clients; what's the health of the nearby school?
greatschools.org
pps.k12.or.us
niche.com
transit
Planning to live that car-free lifestyle?
Want to know the best bike routes to get where you're going?
How Portland of you!
trimet.org
walkscore.com
TALK THE TALK
ANNUAL PERCENTAGE RATE (APR)
APPRAISAL
The percent of interest that will be charged on a home loan.
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.
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
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. For example, you need to sell your home before you can buy another.
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. 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
Process where the buyer is evaluated for ability to repay loan. Includes a credit check, and appraisal of the property.
UNDERWRITING
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KEY PLAYERS
Buying a home is a big deal- but you don't have to go it alone. We've got a team of magic-makers here to help!
YOU
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)
US
As your realtors & teammates on this journey, we'll be your primary contact for all questions and information. Working Magic has a team of licensed Brokers, operations and client joy and transaction coordination. You'll have a clear understanding of your point person, and every step of the way, we've got you covered.
LENDER
Your lender will be in regular contact with us and your team to keep apprised of loan status
TITLE & ESCROW
Neutral 3rd party - they hold and process documents and funds related to the transaction
TRANSACTION COORDINATOR
You will see communication from our transaction coordinator, who helps with documents, signatures, and serves as a liaison between involved parties.
DATES AND GATES
24
HOURS
Typical turnaround time for an offer. Can take longer in competitive situations.
30
DAYS
Typical timeline for sales agreement to closing.
10
DAYS
Inspection period. Gather intel, negotiate repairs and agree to move forward or terminate
1
YEAR
Home warranty coverage, included in purchase and covers major systems and appliances,
3
WEEKS
Underwriting period - appraisal, loan documents and processing with title
365+
DAYS
Consider us a resource before, during and after your purchase. Design help, contractors, resources, jobs, networking, restaurant reccos. We're here for you for the long haul.
YOU BOUGHT A HOUSE!
Let label makers be your friend.
It sounds like a pain in the already tender 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.
It will be in your new homeowners kit we'll provide, but be sure to let utilities, major accounts and workplace know your new address as soon as your move-in is finalized.
Do the switcheroo.
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:
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.
Start packing what you use the least.
consider Working Magic a resource before, during, and after your move. Call us with questions, concerns or if you need a good contractor or _______.
Taking Care of Business.
A couple weeks before move in, be sure to confirm details with your moving company and on moving day, cross-reference their DOT information. Pack a moving day/weekend suitcase with enough supplies to last a couple extra days. Defrost the freezer. Service your car and top off the tank.
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Make it Your Own.
Immediately after move in, be sure to:
- Test all smoke detectors and CO2 alarms
- Place a fire extinguisher on each floor
- Reprogram garage door openers/pad
- Change the locks
- Find the circuit breaker and do a test run
- Locate water and gas shut off
- Make an evacuation plan
WHAT OUR PARTNERS SAY
A majority of our business is from repeat and referred client partners. Our reviews are 5-star, and a positive experience is what motivates us every day. Here's what a few clients had to say about working with us:
I've bought and sold a few houses in my day and there's only one time I can honestly say the process was FUN--and that's when I worked with Gabrielle and Lydia. Their enthusiasm was contagious, but they were also ready to shift into strategic and analytical thinking at the drop of a hat, making the whole process super smooth."
-Kristin, Buyer and Seller
√
As we’ve been reflecting on the last couple of months, it always comes around to feeling extremely lucky we had Gab as our partner in it all. Continue to vet other agents, if you must, but you will not find a better person than Gab to help navigate this crazy housing environment and make some of the most important decisions of your life.
-Joey, Buyer and Seller
"Lydia's work through our recent Lake Oswego home purchase was easily the best experience we've had in relocating to a new area and trying to find a home. She was well-prepared, highly responsive, and professionally connected to all of the resources we needed from the beginning of our search to post-closing. She was efficient, effective, and genuinely felt like a partner. We wouldn't hesitate to work with her again."
-Bill, Buyer
LIVING ROOM REALTY & WORKING MAGIC
Working Magic Group is affiliated with Living Room Realty, Portland's #1 full-service real estate office with three locations in Portland, one at the coast in Manzanita, and one in Vancouver, WA.
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.
OUR VALUES
DIVERSITY
To promote, honor and embrace the culture within our community.
To create meaningful and powerful relationships in our community.
To honor ourselves and those around us by doing what we say and saying what we mean.
To cultivate joy through energy and gratitude.
To create achievement and enjoyment each day.
To appreciate and value what we have in order to create true generosity.
To achieve excellence through distinctive client experience and service.
To seek relevance, beauty and meaning in all we do.
CONNECTION
INTEGRITY
JOY
BALANCE
ABUNDANCE
EXCELLENCE
RELEVANCE
LAND ACKNOWLEDGEMENT
The Portland Metro area rests on traditional village sites of the Multnomah, Wasco, Cowlitz, Kathlamet, Clackamas, Bands of Chinook, Tualatin, Kalapuya, Molalla, and many other tribes who made their homes along the Columbia River. Indigenous people have created communities and summer encampments to harvest and enjoy the plentiful natural resources of the area for the last 11,000 years.
We want to recognize that Portland today is a community of many diverse Native peoples who continue to live and work here. We respectfully acknowledge and honor all Indigenous communities—past, present, future—and are grateful for their ongoing and vibrant presence.
We also acknowledge the systemic policies of genocide, relocation, and assimilation that still impact many Indigenous/Native American families today. As settlers and guests on these lands, we respect the work of Indigenous leaders and families, and pledge to make ongoing efforts recognize their knowledge, creativity, and resilience.
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