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Bella Casa Realty, Inc.
Terri Popejoy, ABR, SFR, Principal Broker

314 NE 87th Ave
Portland, OR 97220
Best Number to Call: 503-330-0400
Office: 503-231-7355
Fax: 503-296-5332
Email: tpopejoy@msn.com

Welcome to Bella Casa Realty, Inc.
Providing a superior level of informed, professional real estate services to buyers and sellers in the greater Portland area.

Welcome to the premier resource for all real estate information and services in the area. I hope you enjoy your visit and explore everything my realty website has to offer, including Portland real estate listings, information for homebuyers and sellers, and more About Me, your professional Portland Realtor.

Looking for a new home? Use Quick Search or Map Search to browse an up-to-date database list of all available properties in the area, or use my Dream Home Finder form and I'll conduct a personalized search for you.

If you're planning to sell your home in the next few months, nothing is more important than knowing a fair asking price. I would love to help you with a FREE Market Analysis. I will use comparable sold listings to help you determine the accurate market value of your home.

Real Estate News

Latest Realty News from NAR

Which Metro Areas Have Rising Prices and Faster Selling Time as of June 2018?

Home prices continue to increase although the pace of price appreciation has slowed. As of June 2018, the national median sales price of existing homes sold rose to a peak of $276,900, the highest level since 20001 when NAR started tracking this data. However, the pace of appreciation has been slowing. In June 2018, the national median sales price rose 5.2 percent on a year-on-year basis (2.2 percent on an inflation-adjusted basis), a slower rate of growth compared to the price appreciation of near or above 10 percent in 2013.

 

The question is: will home prices continue to increase? One way to think about this is to compare the price appreciation with days on market. If properties continue to sell at a faster pace, this means that demand continues to outpace supply, and there continues to be an upward pressure on prices. However, if properties are increasingly staying on the market longer, then this means that supply is starting to outpace demand, causing prices to fall. As of June 2018, the median list price increased compared to one year ago in 419 metro areas tracked by Realtor.com (414 in June 2017). Meanwhile, properties sold faster compared to one year ago in 495 metro areas (395 in June 2017).

The data visualization below shows the year-on-year change in median list price (Y-axis) against the year-on-year change in days on market (X-axis). Most metro areas lie on the upper left quadrant where the median list prices rose and the median days on market fell in June 2018 compared to one year ago. There are only three metro areas where days on market rose and median list prices fell: Johnston, PA; Enid, OK, and Minot, ND.

In the high price metro areas, the median list prices rose compared to one year ago, but they have slightly declined compared to May 2018 levels. In San Jose-Sunnyvale, the median list price rose compared to one year ago (14.7 percent), but the median list price decreased compared to the May 2018 level (-3 percent). In San Francisco-Oakland-Hayward, CA, median prices rose compared to one year ago (8.7 percent) but also slightly declined from the May 2018 level (-0.4 percent). In Los Angeles-Long Beach-Anaheim, CA, the median list price also rose compared to one year ago (5.2 percent) but declined compared to the May 2018 level (-0.5 percent).

In summary, in many areas, demand is still outpacing supply, so there is still upward pressure on prices for now in many metro areas, although prices have started to trend downwards modestly in high-price metro areas (e.g., San Jose, San Francisco, Los Angeles). Affordability challenges, rising interest rates, and the modest increase in housing starts are likely exerting a downward pressure on prices. However, over the longer-term, there is still the upward demographic demand pressure from those in the 35-44 age groups (mostly millennials) who will increasingly get older, get married, have better incomes, and start forming households and buying homes. The U.S. Census Bureau projects the number of 35-44 year-old adults to increase from 41.3 million in 2018 to 47.2 million in 2028.

MedianPrices_DOM_DB4

A Dive into 2018 Member Demographics

This blog was written by NAR Research’s intern, Bronwen Leibe.

Hi again, it’s me, the research intern! Let’s take a closer look at this year’s member profile!

In the 2018 NAR Member Profile, females still make up 63 percent of all REALTORS®. This remains notably constant throughout years of experience (girl power!). Females dominate the profession, except in function breakdown; they make up a smaller percentage of broker-owners, managers with selling, and appraisers.

The median age of REALTORS® for 2018 is 54 years old. Although, there has been a slight increase in younger REALTORS® (30 years old and younger) to 5 percent.  The consistent largest age group, those 65 years and older, has increased from 17 percent to 20 percent of all REALTORS®. As a large population embarks on retirement, there will be the need for other generations to enter into the industry.

Interestingly, REALTORS® aged 45 to 54 are a larger portion with 2 or less years of experience than REALTORS® aged 30 years old and younger. Are people coming from other occupations? Well, only five percent of REALTORS® reported real estate was their first career. With 95 percent coming from another occupation, were their previous jobs helpful to a transition in real estate? Thirty-two percent of REALTORS® had a previous career in management, business, finance or sales/retail. To me, those industries’ skills are reasonably applicable to real estate.

Conjointly, education at all levels is a valuable asset for an occupation. Thirty percent of REALTORS® have had some college education, 13 percent have their Associate’s Degree. A third of real estate agents have Bachelor Degrees, while 13 percent have a graduate degree. Nonetheless, investment in your occupation is just as noteworthy as investment in your education. Seventy-two percent of REALTORS® said that real estate was their only occupation— showing that agents heavily invest their time into the industry. In fact, a considerable majority of 52 percent work 40 or more hours per week.  On top of working in real estate, two-thirds of NAR members volunteer in their communities! Already, REALTORS® play a big role in community building and it is admirable that NAR members are contributing outside of their occupation.

 

Second Quarter Single Family Metro Market Prices

The National Association of REALTORS® quarterly home prices increased again this quarter. Prices continue to drift up this quarter with 90% of the markets showing home price appreciation. We can also look at the top metro areas whose price grew the fastest. Housing affordability is down and for first time buyers qualifying incomes are rising along with the down payment on a new home. Knowing the mortgage rates and the qualifying incomes will help potential homeowners figure out what metro areas are affordable for them. Here is a look at the metro areas with the strongest price growth of the second quarter 2018, as well as a look at the yearly change in median existing single-family home prices for the top five highest and lowest growth metro areas of the second quarter 2018.

These are the top five single-family metro areas with the highest home price appreciation:

These are the bottom five single-family metro areas that had a decline in home price appreciation:

These are the most expensive metro areas for the second quarter 2018:

These are the least expensive metro areas for the second quarter 2018:

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Testimonials

To Whom It May Concern, This is an unsolicited letter of recommendation for Terri Popejoy. I am writing it because I am reflecting on how Terri Popejoy, throughout the years, has always come through for my partner and me, enabling our real estate dreams to come true. She continues to do so for us, and has done so, and continues to do so, for the many family members, friends, and acquaintances to whom we have recommended her. This deserves tribute. It is rare to be able to recommend someone so capable and honorable in any field. When the field is real estate, so vast and so full of question marks and so loaded with ramifications, Terri Popejoy has always been, in my experience and observation, a beacon of light, showing the way to the realization of our goals. We, and our family and many firends and acquaintances, have relied on Terri for nearly 20 years to help us accomplish our real estate goals. She has always understood exactly what each of us was looking for in a property, no matter how obscure. She has always in a very timely manner, found the exact property we wanted and closed the deals, in the most efficient manner. Terri has sold properties for our friends with the same efficiency: to the right people, at the right time, for the right price, even before the real estate market was "hot" and before interest rates were low. Terri is as down-to-earth, no nonsense, get-it-done as can be, and get it done she does. Terri has the gift, like a great football player or ballet dancer, of making the art and science of real estate seem almost effortless. In addition, our family still relies on the insurance agent she recommended, the mortgage broker she referred to us, etc. Terri is the consummate professional. In addition to that, when we were new to Oregon, Terri introduced my partner and me to an entire community who made us feel welcome. Throughout the years, we have been priviledged to know her as a human being. It is rare to meet someone who is such a good realtor or such a good person. Terri is both. If you have found her, you have found the very best. Sincerely, Risa
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We are an OREGON GROWN, FAMILY OWNED AND OPERATED company. 
Terri Popejoy, ABR, SFR, WCR, Principal Broker, 503-330-0400