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  • Writer's pictureJeff Grant

The Hub" Newsletter - April 2024

Long Term Investment


Many of you have witnessed a substantial increase in the equity of your homes over the years, prompting thoughts of making a move. If you purchased your home in 2022 or earlier, you likely secured an exceptionally low interest rate. As you contemplate upsizing or downsizing, consider retaining your current home as a long-term investment by adding a rental property to diversify your investment portfolio. It's worth noting that interest rates below 4% may not be seen again for many years, if ever, especially with inflation and low housing inventory. Renting out your current home at a low interest rate could potentially generate positive cash flow. Another advantage of this strategy is the ability to purchase your next primary residence with a smaller down payment (5-10%) compared to what might be needed if you were to keep your current home and buy an investment property separately. This approach offers an excellent path to building long-term financial wealth. I also anticipate significant home appreciation over the next five to seven years, particularly if interest rates begin to decrease in the coming 12-18 months. I am available to assist you with selling if that aligns better with your goals. My aim is to help you assess the bigger picture and determine the best plan for you and your family.


 

Home Values


Looking at the period from 2023 to March 2024, there has been a noticeable uptick in home prices across the Portland Metro Area. The average sale price has risen by 2.1%, climbing from $567,100 to $578,800, while the median sale price has increased by 2.0%, from $514,900 to $525,000 (Data sourced from RMLS). Despite prevailing 30-year conventional loan interest rates around 7%, this upward trend in home values is apparent. Should you have inquiries about your property's value or your neighborhood's market dynamics, feel free to reach out. I'm here to provide detailed insights tailored to your specific needs.


 

Upcoming Events Coming Soon!


My dear friend Scott Davis and I are organizing a delightful client appreciation gathering set for this beautiful spring season we find ourselves in. Your support, trust, and referrals are truly the cornerstone of our ability to assist numerous families. We'll be sure to update you on the details of our upcoming event and eagerly anticipate the pleasure of seeing many of you this Spring.



 

Keep Pushing Forward


During my school years, I wrote an essay on Walt Disney, a figure who continues to inspire me deeply. His vision to create something unprecedented and spread joy globally resonates profoundly with me. Having had the opportunity to visit both Disneyland and Disney World fills me with immense joy and nostalgia as I reflect on countless cherished memories. Walt faced skepticism from many, yet he remained steadfast in his dream. At the age of 54 in 1955, he witnessed the opening of Disneyland—a testament to his perseverance and unwavering belief. His journey serves as a poignant reminder for all of us to hold onto our dreams and have faith in their realization. In times of adversity or setbacks, let us keep pushing forward, never losing sight of our aspirations. Keep dreaming and always believe in the magic of making dreams come true!



 

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Gerritz Realty Group

1915 NE Stucki Ave. Ste 250,

Hillsboro, OR 97006

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