Price Drops, Bidding Wars & Contingent Deals: Portland Real Estate Update

🎯 Is Now the Time to Buy or Sell in Portland?

Spring 2025 is here—and with it comes a real estate market full of surprises. Whether you're eyeing a new home or considering selling, understanding the nuances of today’s market could save you thousands. Joe and Makayla break down what’s actually happening behind the headlines and give you the unfiltered truth.

📝 Episode Summary

In this fast-paced market update, Joe and Makayla dig into what’s really going on in the Portland real estate scene this spring. From first-time buyer struggles to luxury market opportunities, this episode unpacks where things stand and what that means for you. You’ll hear about pricing trends across three price ranges, key buying strategies (including how to use seller credits to your advantage), and honest advice for sellers navigating interest rate sensitivity.

Expect insights, laughs, a little fried chicken talk—and a whole lot of value.

 🔍 Episode Highlights 

[00:05:03] Spring 2025 Market Snapshot – A quick look at what’s changing and why it matters

[00:07:01] Buyers: Under $600K – High inventory, low competition, and why you have leverage right now

[00:10:08] Buyers: $600K–$1.2M – The “dialed-in” dilemma, contingent offers, and smart financing moves

[00:14:00] Buyers: $1.2M and Up – Why this might be the best time to buy in the luxury market

[00:17:03] Sellers: Under $600K – Fewer buyers, tougher appraisals, and the importance of pricing below market

[00:19:23] Sellers: $600K–$1.2M – How to stand out in a crowded market and handle contingent buyers

[00:22:15] Sellers: $1.2M and Up – Inventory is strong, but smart pricing and perfect presentation still matter

[00:23:00] What’s Next: Behind the Scenes – A sneak peek at an upcoming episode on the real day-to-day of a broker

👤 About the Hosts

Joe Reitzug and Makayla Mast are top Portland real estate pros known for keeping it real. Whether you’re buying, selling, or just trying to make sense of the numbers, they’re your go-to guides.

🔗 Resources Mentioned

• LivPortland Podcast Archive
• LivPortland Grub Guide
• Want to reach Joe or Makayla? 

Thinking about making a move? Let’s talk strategy. Visit livportland.com to get personalized insights, or DM us to start the conversation.
And don’t forget—subscribe, leave a review, and share this episode with someone who needs to hear it.

Thank you for listening to this episode. Stay up to date on the latest trends and insights by subscribing to our podcast and following us on social media.

For more information about buying or selling in the Portland Metro real estate market, please visit www.LivPortland.com or contact us directly.

We appreciate your feedback, so please leave a review and let us know what topics you would like to hear more about.

Transcript

00;00;08;06 - 00;00;21;11

Joe Reitzug

Welcome to off the record Talking real estate with Joe and Makayla. If you're interested in the Portland, Oregon real estate market and want the unvarnished inside scoop, you've come to the right place. Thanks for giving us a listen.

00;00;21;11 - 00;00;27;03

Joe Reitzug

Okay everyone, thanks for joining the show. We're happy to have you here today. Hi, Makayla.

00;00;27;04 - 00;00;31;01

Makayla Mast

Hi. We're a little squirrely in the studios today. Per usual.

00;00;31;02 - 00;00;31;28

Joe Reitzug

Per usual.

00;00;32;00 - 00;00;42;19

Makayla Mast

If you're a longtime listener, you know that we usually record these in the afternoons. Yeah, after very long appointments and some time in the car. Yeah. In the late lunch? Yeah. But we're here and we're excited.

00;00;42;25 - 00;00;44;05

Joe Reitzug

We're here. And,

00;00;44;05 - 00;00;50;05

Joe Reitzug

know, I have that just that feeling that I should eat healthier before this because I just have that feel.

00;00;50;05 - 00;00;51;12

Makayla Mast

A little brain fried.

00;00;51;14 - 00;00;52;01

Joe Reitzug

A little brain

00;00;52;01 - 00;00;53;15

Joe Reitzug

fried, a little bit of,

00;00;53;15 - 00;00;55;19

Joe Reitzug

burger was not the right choice.

00;00;55;22 - 00;00;58;15

Makayla Mast

My giant Diet Coke wasn't a good choice either.

00;00;58;16 - 00;01;06;11

Joe Reitzug

Yeah. Yeah. I don't know about you, but I keep making promises to myself that I'm going to make better choices about my nutrition.

00;01;06;11 - 00;01;09;19

Joe Reitzug

But when you get busy, it's hard. You know, you just kind of.

00;01;09;19 - 00;01;14;09

Joe Reitzug

I got to get something to eat because I got ten phone calls to return and five emails and. Yeah,

00;01;14;09 - 00;01;14;22

Joe Reitzug

gotta get.

00;01;14;25 - 00;01;15;15

Makayla Mast

Back in the car.

00;01;15;19 - 00;01;16;18

Joe Reitzug

Yeah, exactly.

00;01;16;21 - 00;01;21;15

Makayla Mast

So, yeah, last weekend, I made a big announcement to the family that I was going to go gluten free.

00;01;21;15 - 00;01;23;27

Makayla Mast

Why? I didn't last today.

00;01;23;29 - 00;01;25;00

Joe Reitzug

You're going to go gf.

00;01;25;00 - 00;01;26;15

Makayla Mast

Yeah. I need to.

00;01;26;15 - 00;01;28;27

Joe Reitzug

Do you have celiac or what's going on.

00;01;29;00 - 00;01;36;05

Makayla Mast

No, I was gluten free for seven years and I just feel like I was healthier then, so. Oh, I didn't know that. Yeah, well, since then.

00;01;36;07 - 00;01;38;12

Joe Reitzug

Most of your childhood. Wow.

00;01;38;13 - 00;01;40;25

Makayla Mast

Yeah. Wow. New information. Yeah.

00;01;40;27 - 00;01;43;29

Joe Reitzug

So are you going to go with that, or did you change your mind already?

00;01;44;02 - 00;01;53;25

Makayla Mast

I need a lot of moral support from my husband. Yeah, and I need some good gluten free, like protein powders and things like that to supplement, so. Yeah. That's not what this podcast is about.

00;01;53;25 - 00;01;54;29

Joe Reitzug

But that whole process.

00;01;55;00 - 00;01;59;08

Makayla Mast

If you know of any good gluten free substitutes. Yeah, let me know.

00;01;59;09 - 00;02;00;21

Joe Reitzug

Bang. There you go.

00;02;00;21 - 00;02;04;15

Joe Reitzug

I've got a on a nutritional health thing again. You know,

00;02;04;15 - 00;02;06;08

Joe Reitzug

Stephanie and Aiden and I, my son Aiden,

00;02;06;08 - 00;02;11;14

Joe Reitzug

did a fast from Tuesday night to this morning. Today's a Thursday,

00;02;11;14 - 00;02;19;10

Joe Reitzug

I shared with Makayla. We were on an appointment earlier today. Nobody say they say anything to Stephanie and Aiden, but I couldn't do it.

00;02;19;13 - 00;02;27;09

Joe Reitzug

I was out of an appointment out in McMinnville, and I was just too hungry. I got so hangry, I couldn't even stand myself.

00;02;27;14 - 00;02;29;25

Makayla Mast

How many hours did you make it?

00;02;29;25 - 00;02;32;08

Joe Reitzug

p.m. to 2 p.m..

00;02;32;08 - 00;02;33;08

Joe Reitzug

19 hours.

00;02;33;09 - 00;02;34;23

Makayla Mast

It's really impressive.

00;02;34;26 - 00;02;35;23

Joe Reitzug

I thought so.

00;02;35;25 - 00;02;37;07

Makayla Mast

I'm proud of you, son.

00;02;37;10 - 00;02;41;21

Joe Reitzug

But were you the word people don't say anything to my wife or Aiden, so I cheated.

00;02;41;27 - 00;02;47;07

Makayla Mast

I know you didn't tell them that you cheated, but were you, like, bragging about the whole game?

00;02;47;09 - 00;02;56;07

Joe Reitzug

No, I was quiet. I thought I was being suspiciously quiet, but they were in so much pain from being hungry, they didn't even notice.

00;02;56;09 - 00;02;57;14

Makayla Mast

Gosh.

00;02;57;16 - 00;03;12;19

Joe Reitzug

I know Aiden came up to me before late night. You know, I was heading upstairs to hit the rack, and he's like, so how you doing, dad? How you feeling? I was like, boy, it's it's pretty terrible. Well, I didn't have dinner. I had lunch, I didn't have dinner.

00;03;12;23 - 00;03;14;06

Makayla Mast

Yeah. You didn't have lunch? Sorry.

00;03;14;06 - 00;03;25;26

Joe Reitzug

Just speaking to the dinner. It was like. It was pretty rough. Pretty rough. But I'm going to go to bed and I'll be fine. He's like, good job, dad, good job.

00;03;25;28 - 00;03;27;12

Makayla Mast

I love it. And.

00;03;27;12 - 00;03;29;16

Joe Reitzug

I that self-discipline.

00;03;29;18 - 00;03;29;22

Makayla Mast

And.

00;03;29;29 - 00;03;31;10

Joe Reitzug

Self-Discipline.

00;03;31;13 - 00;03;32;00

Makayla Mast

It's hard.

00;03;32;04 - 00;03;36;16

Joe Reitzug

Well, someday I'll turn the corner corner on it. Not today. Satan.

00;03;36;19 - 00;03;37;09

Makayla Mast

Not.

00;03;37;11 - 00;03;38;24

Joe Reitzug

Not today.

00;03;38;27 - 00;03;41;05

Makayla Mast

And after this, we're going to go eat fried chicken.

00;03;41;06 - 00;04;01;06

Joe Reitzug

I know we're doing that grub guide. So, if this is your first episode that you're listening to, we also do something called the Grub Guide, which we marry food with community and homes. Because you know what? It all goes together, you know? And so Makayla and I have been doing our grub guide where we've been,

00;04;01;06 - 00;04;05;15

Joe Reitzug

reviewing food trucks around town and the areas that they are located in.

00;04;05;18 - 00;04;13;28

Joe Reitzug

And today we're trying it's not a food truck, it's jollibee's. Do you know what Jollibee's is? Have you looked at the menu?

00;04;13;28 - 00;04;14;19

Makayla Mast

Yeah.

00;04;14;22 - 00;04;15;22

Joe Reitzug

I haven't looked at the menu.

00;04;15;22 - 00;04;30;20

Makayla Mast

Oh that's almost more fun I think. Yeah. Because since it's, it just opened there's a long line. So we'll have a lot of time to start. You didn't tell me about the line. Oh well we were trying to go on and off our. But you know, it's already 3:00, so, Well, probably not going to happen, but.

00;04;30;20 - 00;04;47;21

Joe Reitzug

All right, people, this market report update could be cut short. I'm just saying. Yeah, I told them where we were going and I was like, yeah, Makayla and I are going to go there. I'll pick you up something. Let me know if you want to look at the menu and let me know. And he said, oh, I know exactly what they have.

00;04;47;22 - 00;04;49;03

Joe Reitzug

Get me a bucket of chicken.

00;04;49;05 - 00;04;50;07

Makayla Mast

Oh, wow.

00;04;50;11 - 00;04;51;15

Joe Reitzug

He wants a full bucket.

00;04;51;15 - 00;04;57;21

Makayla Mast

See, it's going viral on the socials. Yeah. Help us go viral on social. Okay.

00;04;57;23 - 00;05;01;26

Joe Reitzug

Well, maybe the Jollibee grub guide will go viral.

00;05;01;27 - 00;05;03;24

Makayla Mast

Yeah, maybe.

00;05;03;27 - 00;05;23;21

Joe Reitzug

But today we are here. And right now we are here for all of our listeners that want to hear about the Portland real estate market update. We're going to be brief. We're going to be to the point, and I've been told go easy on the stats, Joe, so I will I've been scolded.

00;05;23;24 - 00;05;28;14

Makayla Mast

By you. Are they in the room with us? You. I did not. Yes you do.

00;05;28;17 - 00;05;29;01

Joe Reitzug

You did.

00;05;29;01 - 00;05;32;15

Makayla Mast

Whatever. I just want to keep it light and fun.

00;05;32;17 - 00;05;34;29

Joe Reitzug

Because. Is that what you call this market light and fun?

00;05;35;03 - 00;05;52;13

Makayla Mast

Not super light or fun. Yeah. But just want to let people know what we're experiencing. You know, a lot of times the market will change week to week or month to month, and we are kind of seeing that. So I think it's important to stay informed based on the spring season.

00;05;52;18 - 00;06;06;28

Joe Reitzug

But I think we've got a pretty good idea of what's going on right now this year and this spring. I'm not sure what we're going to see going into the summer, but we know where we're at right now. So what we're going to do, the way we're going to do this is we're going to break it down by price ranges.

00;06;06;28 - 00;06;29;25

Joe Reitzug

So 600,000 and below 600,000 to 1.2 million and then 1.2 and above. Those are kind of the three price segments in our marketplace. And we're going to tell you what each price segment means for you as a home buyer. And then we're going to tell you what each segment means for you as a home seller. So

00;06;29;25 - 00;06;31;09

Joe Reitzug

should be kind of fun, kind of interesting.

00;06;31;09 - 00;06;33;12

Joe Reitzug

We're just kind of whipped through this and,

00;06;33;12 - 00;06;34;04

Joe Reitzug

kind of see

00;06;34;04 - 00;06;38;19

Joe Reitzug

what happens here. But I'm interested to get your takes on some of this. You and I talk a lot about

00;06;38;19 - 00;06;48;05

Joe Reitzug

the market and what we're seeing and all that, but, you know, it's we don't get to get together very much. So we don't get to have these conversations as much as I'd like.

00;06;48;08 - 00;06;49;28

Makayla Mast

Yeah. This is good. Yeah.

00;06;50;01 - 00;07;01;08

Joe Reitzug

So let's start it out. Let's talk about buyers who are in the 600,000 and below price point. What are you seeing right now?

00;07;01;08 - 00;07;09;23

Makayla Mast

I'm seeing a couple different things. A lot of first time home buyers are having trouble stomach seeing the mortgage payment.

00;07;09;25 - 00;07;11;10

Joe Reitzug

Interest rate sensitive.

00;07;11;12 - 00;07;23;14

Makayla Mast

Are, you know, interest rates are still hanging out around 6.75 to 7%, depending on so many factors. But that's generally what we're seeing. Our suggestion to buyers in that range is to,

00;07;23;14 - 00;07;25;27

Makayla Mast

do all of the prep work to get pre-approved.

00;07;25;27 - 00;07;26;17

Makayla Mast

And then we,

00;07;26;17 - 00;07;40;22

Makayla Mast

work really hard at finding a deal for you, meaning that we find something that you love, that you want to move into in a location that you love, but one where we can ask for some seller credits to help buy down the interest rate and,

00;07;40;22 - 00;07;42;25

Makayla Mast

make your monthly payment much smaller.

00;07;43;02 - 00;07;46;27

Joe Reitzug

Yeah, because I'm looking at this stats, I'm going to go stats real quick.

00;07;46;27 - 00;07;48;21

Makayla Mast

Okay. Go ahead. All right, all right.

00;07;48;21 - 00;08;12;28

Joe Reitzug

looking at the stats. And in May 25th versus May 24th, 400 to 600, there are about 120 fewer sales in that price point. Right. But there's an increase in the inventory of probably about 35 to 40%. Right. So lots more homes to choose from.

00;08;13;00 - 00;08;13;09

Makayla Mast

And.

00;08;13;09 - 00;08;19;19

Joe Reitzug

Much less competition. So as a buyer in those price points, you're kind of calling the shots right now.

00;08;19;20 - 00;08;20;24

Makayla Mast

Absolutely.

00;08;20;26 - 00;08;40;27

Joe Reitzug

Yeah. Which is a good thing, which is a really good thing. You know, so that kind of covers one of the things I want and wanted to talk about in this price point was there's just more options, right? There's more options. Sellers are more willing to give you those credits to either buy down your interest rate or help you with closing cost or whatever you need to do.

00;08;40;27 - 00;08;44;10

Joe Reitzug

So if you're in a position where you qualify,

00;08;44;10 - 00;08;47;29

Joe Reitzug

for a loan and you are,

00;08;47;29 - 00;09;03;10

Joe Reitzug

open to the payment that that comes with right now, you're in a great spot. Yeah. And everyone always talks about buying low, selling high, all that type of stuff. I think now is too low. You know, we never know until we're past it.

00;09;03;12 - 00;09;03;29

Makayla Mast

He's seen it.

00;09;03;29 - 00;09;22;14

Joe Reitzug

Here. I'm I'm calling my shot. I'm calling my shot. I think prices in that price point are not going to go down. And I you know, people think, oh I'm going to I'm going to jump on it when the prices are at the lowest. Well I think that's now. But also more importantly, you have leverage as a buyer right now.

00;09;22;14 - 00;09;31;23

Joe Reitzug

And you can get those credits. You can negotiate all the repairs you want. You can do the things necessary to get in and have it be very favorable to you.

00;09;31;26 - 00;09;36;17

Makayla Mast

Absolutely. And not overpay and walk in with a bunch of deferred maintenance.

00;09;36;20 - 00;10;08;16

Joe Reitzug

Right. So that's what we're looking at in, 600,000 and below. Let's talk about buyers for 600 to 1.2. What do you think I'm looking at? You know, there is still unless a home is absolutely dialed in and doesn't have any flaws, you're not selling it right away right now. Yeah, right. You got to be in the top 3 to 5% of that price point.

00;10;08;18 - 00;10;19;15

Joe Reitzug

Now if it is dialed in, if it's beautiful, if it's perfect, there's no deferred maintenance. There's no flaws to it. Neighborhood check. Not next to a freeway check.

00;10;19;15 - 00;10;21;18

Joe Reitzug

Whatever the case might be,

00;10;21;18 - 00;10;29;24

Joe Reitzug

you might get multiple offers, right? But if you're priced just above the marketplace, you also might sit for 3 to 4 weeks.

00;10;29;27 - 00;10;31;10

Joe Reitzug

It's a weird dynamic right now.

00;10;31;10 - 00;10;41;25

Makayla Mast

It is a weird dynamic. And like you were telling a client earlier today, there's much more to look at online. So buyers, if they don't like the photos they're scrolling on because there's more to see.

00;10;42;00 - 00;10;56;03

Joe Reitzug

Yeah, yeah for sure. And I have not heard buyers talk about oh that's been on the market for 30 days. I don't need to look at that when there's something wrong with it. Remember how we used to get that in 22. Yeah 2022, 21.

00;10;56;05 - 00;10;57;02

Makayla Mast

It was like ten days.

00;10;57;09 - 00;11;14;26

Joe Reitzug

Yeah. Oh that one's been on the market ten days. There's something wrong with it. Buyers don't care. Right now they're looking at pretty much everything. And if it's dialed in you know I think they're getting smarter about the fact that sometimes people price too high. And then they got to bring the price down. And that's going to affect days on market.

00;11;14;26 - 00;11;22;23

Joe Reitzug

And you still might be able to get a great home that's been on the market 30, 40, 50 days. They've just had to make some adjustments price wise.

00;11;22;26 - 00;11;42;19

Makayla Mast

So and if you're a buyer in this range, it's a good time to try for contingent offers. If that's something that you need to do a lot more sellers are understanding of what's going on in the market, and they are willing to be patient. As long as you price your home, you know accordingly, and it's well presented. They're willing to work through that with you.

00;11;42;19 - 00;11;45;10

Makayla Mast

So right. We don't often see that in this market.

00;11;45;12 - 00;12;01;02

Joe Reitzug

No. And I think there's we've talked about this a ton on the podcast, but there's a lot of value in proactively talking to your mortgage professional and your real estate professional to get a strategy in place for, hey, I've got a home right now that I'm going to need to sell.

00;12;01;02 - 00;12;05;14

Joe Reitzug

Or can I qualify to purchase something without having to sell this?

00;12;05;14 - 00;12;08;22

Joe Reitzug

Or maybe sell it after we're seeing a lot of that right now where

00;12;08;22 - 00;12;25;19

Joe Reitzug

got a low payment on their current home, which means that their debt to income is pretty darn good, which means they qualify for buying a new home without having to sell their current one. And if you want to keep it out as an investment, all you're really going to have to show is that you have a tenant.

00;12;25;22 - 00;12;27;29

Joe Reitzug

In a lot of cases, you just show that you have a tenant,

00;12;27;29 - 00;12;31;23

Joe Reitzug

for your property, and then they'll approve you. In a way, you go, right?

00;12;31;23 - 00;12;33;11

Makayla Mast

we're working with a client right now

00;12;33;11 - 00;12;55;17

Makayla Mast

their home is about is worth around 550. And they were able to make a non contingent purchase for this home. That's 750. They are still pending on that right now. We're going to list their home during the process. And then when they close on their purchase well they have to pay two months of mortgage payments after that.

00;12;55;17 - 00;13;18;04

Makayla Mast

But when they sell their house, all the proceeds from that can get can pay off the new home, which is going to lower their monthly payment by. Yeah, a lot, because they have they don't owe much on that other home. So it's going to really help. But that was such a game changer because the type of properties that we were offering on were competitive and, you know, very unique to their needs.

00;13;18;04 - 00;13;19;27

Makayla Mast

So we had to be competitive.

00;13;19;28 - 00;13;39;19

Joe Reitzug

So I think there's a lot more buyers right now who in the past year or two have been like, oh, we're never going to move until things change with interest rates because we're we're locked in at two and a half or 3.5% on our current home that are now realizing, well, our lives have kind of changed and our needs have changed.

00;13;39;19 - 00;13;52;09

Joe Reitzug

And we really we love this house, but we're ready for the next step, right? And now they're starting to look at what those options look like. And I think a lot of people are pleasantly surprised at what can be accomplished.

00;13;52;12 - 00;13;53;05

Makayla Mast

Yeah, I think so.

00;13;53;05 - 00;13;53;23

Joe Reitzug

Too, don't you think?

00;13;53;23 - 00;13;54;06

Makayla Mast

Yeah.

00;13;54;09 - 00;13;59;24

Joe Reitzug

Yeah. The other thing is contingencies. Don't be afraid. Right, a contingent offer. Yeah, right.

00;13;59;25 - 00;14;00;12

Makayla Mast

Agreed.

00;14;00;12 - 00;14;13;14

Joe Reitzug

Let's talk about buyers that are 1.2 and above. I'm gonna go ahead and say you should have a party right now, because this is the best time ever to buy. If you're in that price range of 1.2 and.

00;14;13;14 - 00;14;14;20

Makayla Mast

Above, it really.

00;14;14;20 - 00;14;19;14

Joe Reitzug

Is. There's more inventory to choose from. There's a lot of great inventory.

00;14;19;14 - 00;14;33;15

Joe Reitzug

The only downside is there's a ton of competition, right? Because looking at the numbers of homes that have sold this May versus last year, in May versus the year before in May, it's stronger now 1.2 and above,

00;14;33;15 - 00;14;38;02

Joe Reitzug

for the most part than it was the last two years, which is nice.

00;14;38;03 - 00;14;44;05

Joe Reitzug

Yeah, it is nuts. And if you have cash in your 1.2 and above, giddy up.

00;14;44;05 - 00;14;45;28

Makayla Mast

Yes, it's your time to shine.

00;14;45;29 - 00;14;53;22

Joe Reitzug

It is your time to shine. So that is our buyer segment. Let's move on to the sellers.

00;14;53;24 - 00;14;54;12

Makayla Mast

Okay?

00;14;54;12 - 00;15;04;12

Joe Reitzug

most of you know, in our business, I deal with a ton of sellers, and Makayla deals with a lot of buyers. She deals with both. She deals with buyers and sellers.

00;15;04;12 - 00;15;12;29

Joe Reitzug

And so do I, for the most part. But she. I'll be honest, she's more knowledgeable about what's going on with buyers and our current market.

00;15;13;01 - 00;15;24;03

Joe Reitzug

For me, I'm always, you know, for the most part, working with sellers and helping them navigate what they're doing and everything. And buyers almost seem like a

00;15;24;03 - 00;15;51;29

Joe Reitzug

no. I don't want to say easier because it is complicated depending on which price point you're in, but there's solutions and people are open to different strategies and everything. And it feels like just now, just now, June of 2025, our sellers kind of come to the realization of, oh, I need to price my home appropriately and not think about where pricing and the market was back in 2022 or 21.

00;15;52;02 - 00;15;58;29

Makayla Mast

You know, I agree, I think more people are coming up to speed that. But there's still that that 10% that's just out to lunch.

00;15;59;01 - 00;16;02;18

Joe Reitzug

Yeah. Yeah. There's some hard realities and

00;16;02;18 - 00;16;03;25

Joe Reitzug

I always tell people.

00;16;03;25 - 00;16;05;11

Joe Reitzug

it's just one of those things

00;16;05;11 - 00;16;06;02

Joe Reitzug

kind of stood by

00;16;06;02 - 00;16;18;15

Joe Reitzug

my 30 years in the business is I'm not going to tell people what they want to hear. I'm going to tell them what my opinion is, what I see in the market and what my professional recommendation is, good or bad or the other.

00;16;18;15 - 00;16;32;23

Joe Reitzug

You need to get the right information. You need to get the accurate information. Yeah. And that's part of the reason you're hiring us, is for us to give you the straight scoop and not candy coat things. And those are some hard conversations, but people seem to be more receptive to them now.

00;16;32;25 - 00;16;33;20

Makayla Mast

I think so too.

00;16;33;24 - 00;16;36;16

Joe Reitzug

Yeah, I do get a little bit,

00;16;36;16 - 00;16;42;07

Joe Reitzug

sideways in my head when people are like, well, we can always come down, but we can't come up.

00;16;42;07 - 00;16;43;27

Makayla Mast

If I had a nickel.

00;16;43;29 - 00;17;03;24

Joe Reitzug

I know for every time, here's how that works. Yes, you can always come down, but you can't go up. But if you start too high, you're definitely coming down, right? But if you start below, there's a good shot. Especially if you have a top 510% property that you may go up with multiple offers.

00;17;03;25 - 00;17;04;18

Makayla Mast

Right?

00;17;04;21 - 00;17;06;03

Joe Reitzug

So tell me what the better strategy.

00;17;06;03 - 00;17;11;15

Makayla Mast

Is for the right marketing and the preparing. Wow. And all the things that we are here for.

00;17;11;18 - 00;17;12;05

Joe Reitzug

That's right.

00;17;12;09 - 00;17;19;24

Makayla Mast

The other thing that's dicey is if you made a purchase and you're waiting on your home to sell or, you know, whatever the case may be,

00;17;19;24 - 00;17;39;09

Makayla Mast

your market time isn't something you really want to gamble with because you're paying your monthly mortgage payment or taxes or, you know, water, sewer, garbage on that property. That is money you're losing every month when you, you know, had the chance to originally get more money for your offer and be done with it.

00;17;39;12 - 00;17;44;11

Joe Reitzug

Let's talk about the price segment. So if you're a seller and you're 600,000 and below,

00;17;44;11 - 00;17;53;24

Joe Reitzug

there are 40 to 45% less buyers in that price point just because of the interest rates. First time home buyers are few and far between.

00;17;54;09 - 00;18;05;25

Joe Reitzug

You know what I mean. And it's it's critical that you price not at the market but a sliver below the market. Don't you agree.

00;18;05;27 - 00;18;06;24

Makayla Mast

Completely. Yeah.

00;18;06;26 - 00;18;09;03

Joe Reitzug

Yeah I mean you just don't want to mess with that.

00;18;09;03 - 00;18;24;28

Joe Reitzug

The other thing is appraisals. Even if you do find that buyer we're seeing some appraisals come in low where it's like, yeah, we're happy that, you know, you got a willing buyer and a willing seller, but the bank who will own 80% of this house is not happy with that price.

00;18;25;03 - 00;18;42;13

Joe Reitzug

So either adjust it between the two of you or we're not going to loan you the money. And that's how that conversation goes. So even if you think, yeah, there's a buyer out there for us and we as the diligent real estate professionals find one for you, the appraiser can come in and just.

00;18;42;15 - 00;18;43;03

Makayla Mast

Say, no.

00;18;43;08 - 00;18;44;25

Joe Reitzug

Big Grinch all over it.

00;18;44;27 - 00;18;49;12

Makayla Mast

Right? And you likely have to come down and value or walk away and risk it again.

00;18;49;12 - 00;18;58;17

Joe Reitzug

And most of the time it falls on the seller for that. So pricing is so incredibly important at all price points, but especially at 600,000 and below.

00;18;58;17 - 00;19;01;06

Joe Reitzug

The other thing is the condition of your property.

00;19;02;01 - 00;19;04;18

Joe Reitzug

Man, spend a few bucks, spend some time.

00;19;04;19 - 00;19;21;13

Makayla Mast

I think this is so important for every price point, but specifically, 1.2 and below, because of 1.2 and above, they're doing pretty good. But spending the extra time to prepare your home is worth every penny right now.

00;19;21;16 - 00;19;23;16

Joe Reitzug

Yeah, 100% agree.

00;19;23;16 - 00;19;26;18

Joe Reitzug

So 600 to 1.2, you're selling your home.

00;19;26;18 - 00;19;29;21

Joe Reitzug

Be prepared for, some contingent offers.

00;19;30;09 - 00;19;33;13

Joe Reitzug

we talk about this in some of our previous podcasts, but,

00;19;33;13 - 00;19;52;05

Joe Reitzug

you know, make sure if you're not using Makayla and I, that your broker, your listing broker who's representing you will do a CMA for you on their home that they're contingent upon. And make sure you know everything you can about that, including pricing, including, hey, do you have some photos?

00;19;52;05 - 00;19;54;07

Joe Reitzug

Do you have photos taken? Can we see those?

00;19;54;07 - 00;20;17;29

Joe Reitzug

Our broker is going to do a CMA on it because you're basically betting your sale on whether they can now get their property sold. So know as much as you can about that, but be ready for contingencies, because there's a ton of people out there who don't get counseled or don't have a strategy other than, well, I'm just going to buy a home as long as my home sells.

00;20;17;29 - 00;20;22;04

Joe Reitzug

And for some people, honestly, that's the only way to go. Yeah, which is fine.

00;20;22;04 - 00;20;27;10

Makayla Mast

But if there are $100,000 over the market value, then that's a big problem, right?

00;20;27;13 - 00;20;34;01

Joe Reitzug

But if they've got a quality property, they've got a good broker, they've got a good marketing plan, they're priced appropriately.

00;20;34;01 - 00;20;40;17

Joe Reitzug

It's worth it to go for it because you're still bump people, which means you can still have your property shown.

00;20;40;17 - 00;20;43;18

Joe Reitzug

But you just want to make sure you're putting your eggs in the right basket.

00;20;43;20 - 00;20;57;03

Makayla Mast

Right. And most times, timelines on your sale will keep, as normal. So, I didn't phrase that correctly, but your inspection contingency contingency as well. We'll start just as they would with any other sale.

00;20;57;03 - 00;20;59;26

Joe Reitzug

Yeah, the timing starts around mutual acceptance a.

00;20;59;26 - 00;21;01;12

Makayla Mast

Lot of the time.

00;21;01;15 - 00;21;29;10

Joe Reitzug

So the other thing, between 600 and 1.2 is you got a lot of competition or you got a lot of competition, and, and we have a couple of properties that I still cannot believe have not sold yet. I know in that price point and it's like, wow, these are a top 3 to 5% property. And we may have, you know, the seller may have started out a little bit high or whatever,

00;21;29;10 - 00;21;30;23

Joe Reitzug

against our counsel usually.

00;21;30;23 - 00;21;47;08

Joe Reitzug

But it's just amazing to me that they have not sold. And it's because of all the competition out there. And also the fact that there's not as many buyers out there to choose from. Right? You're fishing in a pond that has 40 to 50% less fish in it.

00;21;47;10 - 00;21;57;02

Makayla Mast

It's more important than ever to get people through your home. Open houses are a great thing. All the old school marketing techniques are worth doing right now.

00;21;57;08 - 00;22;08;28

Joe Reitzug

Yeah, you got to have a proact of approach, and you actually make sure that your your broker is sending you reports on how many people are looking at your home online, how many people are,

00;22;08;28 - 00;22;15;19

Joe Reitzug

you know, how many brokers are sending emails out about your property, that type of thing? Let's talk about 1.2 real quick.

00;22;15;19 - 00;22;19;00

Joe Reitzug

If you're selling your home at 1.21 above.

00;22;19;02 - 00;22;20;00

Makayla Mast

Congratulations.

00;22;20;00 - 00;22;22;00

Joe Reitzug

Congratulations. You're going to do well.

00;22;22;00 - 00;22;33;27

Joe Reitzug

But pricing is still critical. I see some people kind of jumping the moon on this. Maybe have a 1.3 home and they're they're like, man, we'll give it a shot at 1.5. Well guess what? Same rules apply, right?

00;22;33;29 - 00;22;35;06

Makayla Mast

Just bigger numbers.

00;22;35;12 - 00;22;37;27

Joe Reitzug

Just bigger numbers, bigger numbers.

00;22;37;27 - 00;22;39;07

Joe Reitzug

the other thing is you got to make sure

00;22;39;07 - 00;22;40;24

Joe Reitzug

condition of your properties,

00;22;40;24 - 00;22;52;02

Joe Reitzug

up to snuff because the competition 1.2 and above, there are more homes in that price point. There's also a lot of buyers in that price point right now. So it's kind of a little bit of a feeding frenzy.

00;22;52;04 - 00;23;00;05

Joe Reitzug

But that being said, those are smart buyers, you know? Yeah, all buyers are smart right now. But 1.2 and above this is not their first rodeo.

00;23;00;07 - 00;23;00;19

Makayla Mast

Right.

00;23;00;19 - 00;23;08;18

Joe Reitzug

So that's our breakdown of the market right now folks. We hope you've enjoyed that. I want to sneak kind of do a little teaser for our next part.

00;23;08;18 - 00;23;09;28

Makayla Mast

Okay. Let's do it.

00;23;10;01 - 00;23;17;13

Joe Reitzug

We talked about it, but you know, remember day, you know, a day in a life of maturity when Joe, I.

00;23;17;18 - 00;23;18;24

Makayla Mast

I love this idea.

00;23;18;25 - 00;23;30;03

Joe Reitzug

I want to pull the curtain back and let people see what our calendar looks like and what we're doing on a daily basis. And you and I talk about that and how nuts it is.

00;23;30;03 - 00;23;32;29

Makayla Mast

Sometime I'm looking forward to it. Yeah.

00;23;33;01 - 00;23;45;16

Joe Reitzug

I have family that get a little bit better with me sometimes. Do you then return my text or my phone call right away? I was like, that's because there were 20 people who want to pay me in front of you and cut me some slack here.

00;23;45;16 - 00;23;57;09

Makayla Mast

Yesterday I was on the couch and I think I was trying to find your contact. And I text you. We text all day and I had to scroll. Yeah. Due to solid. I was slack.

00;23;57;11 - 00;24;04;15

Joe Reitzug

And I noticed that this morning I was like, Where's Makayla married? God dang. I talked to her today and I'm like, oh shoot, I'm still on today.

00;24;04;20 - 00;24;06;24

Makayla Mast

I know, wow.

00;24;06;27 - 00;24;07;26

Joe Reitzug

I know it's.

00;24;07;27 - 00;24;09;01

Makayla Mast

Poor us.

00;24;09;03 - 00;24;14;29

Joe Reitzug

Well, not poor us. It's just not. And I feel like people are like, what do brokers do?

00;24;14;29 - 00;24;17;11

Makayla Mast

Right? And my friends are always curious.

00;24;17;11 - 00;24;20;11

Joe Reitzug

Yeah. And why are they so stressed?

00;24;20;14 - 00;24;23;11

Makayla Mast

My hair's full. Yeah. No it's not.

00;24;23;14 - 00;24;26;19

Joe Reitzug

Yeah okay. Awesome. So that's on the horizon, people.

00;24;26;19 - 00;24;35;16

Joe Reitzug

Keep your eyes out for that. But besides that, I hope the, the spring market report update has been helpful. And Makayla knocked it out of the park one more time.

00;24;35;22 - 00;24;43;13

Makayla Mast

Yeah, to reach out so we can talk about your personal situation and see if it makes sense for you to buy or sell in this market. We would love to help.

00;24;43;19 - 00;25;06;26

Joe Reitzug

Yeah. And you can see all of our, our previous podcast on Livportland.com Livportland.com. And if you want to see our smiling faces, you can go to YouTube and, watch the whole video of the podcast. How crazy is that? That's right. We're doing video to. All right, folks, thanks so much. Bye bye.

00;25;06;26 - 00;25;21;20

Makayla Mast

Thanks for joining us today. If you're interested in finding out more about Joe, myself or the Livportland team, you can go to Livportland dot com. Thanks for giving us a lesson and see you next time on the Off the Record podcast.