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Escrow Tip of the Month – March

This month’s tip comes from Kass Wheeler in our Downtown Portland office.

Customer contact information. Having accurate contact information, email and phone number from the start is crucial. It allows us to reach out immediately and introduce ourselves, talk to them about the process and what to expect. This helps reduce the chances of interceptions from a non-affiliated party. Your customer’s experience is the utmost importance to us as well as keeping their information safe as possible. It can also allow us to be aware if they are out of State residents as additional tax documentation will be required from them when selling a property. We like to get that to them well in advance so they can take their time to complete it or consult their tax professional.  Also, if they are out of State there are additional charges for a mobile signing.  Bottom line is no one wants any surprises at the last minute. Our goal to make their transaction as smooth as possible! 

Need assistance? Our customer service team is here to help. Reach them via email at ticor.resource@ticortitle.com or by phone at 503.219.1000

2023 Market Statistics – How Did the Year Look?

2023 is in the books, so let’s take a look at how it went. Listing activity was down compared to the last 2 years, and pending and sold listings also were below 2022 and 2021 levels. Cancelled listings trended higher than the past 2 years as well, but not as significantly as the deviations from Active, Pending and Sold listings.

The List to Sell ratio, which shows how much above or below asking price homes sell for, on average, was 99.5 percent. Most homes were selling for half a percent below the list price. That is a significant change from 2022, where houses were selling for above asking price on average, at 102.4%.

Market time was significantly higher than the past 2 years when 2023 began, but by the end of the year, things were trending closer to 2022. Homes are sitting on the market for quite a bit longer than they were during the pandemic years, but are not as high as they have been in past decades when the economy was struggling.

New construction saw a boost in 2023 compared to 2022. 11.3% of residential home sales in the Portland Metro area were new construction, compared to just 9.35% in 2022.

Overall, the market has slowed significantly in 2023, but there are still transactions occurring. While homes are selling for slightly below asking price on average, and with higher market time, we aren’t seeing huge swings in the trends, and transactions are still making it to close in a historically appropriate timeframe. As winter wraps up and we head into Spring, we should see the market ramp up into a busy season once again.

Ticor Thursday Webinar – February

This month’s webinar is on Thursday, February 22nd at 10am. Our topic is A New Landscape: How to Navigate a Changing Rental Market and Capture the Opportunities, taught by Dan Hayes with Real Property Management Solutions.

Click Here to Register or Scan the QR Code Below

Escrow Tip of the Month

This month’s tip comes from Rochelle Navarro, Escrow Officer and Brand Manager of our Amberglen office.

In recent months, there has been an increase in attempted scams targeting absentee sellers. The scammers pose as the property owner and attempt to sell their property without their knowledge. In order to protect these sellers and their agents, we have implemented a multi-step identity verification process for absentee sellers. Through this process, we require a virtual appointment and government ID verification to make sure they’re really who they say they are. The process is quick and seamless but will aid in preventing potential theft. If you have further questions about this process and how it may impact your future transactions, feel free to reach out directly to your Ticor Title Escrow Officer and they will be able to help.

Need assistance? Our customer service team is here to help. Reach them via email at ticor.resource@ticortitle.com or by phone at 503.219.1000

Sales Team Tip of the Month – Google My Business

Updating your Google business profile is paramount for realtors in today’s digital age. It’s a direct gateway for potential clients to discover your services, contact information, and customer reviews. Keeping your profile current with accurate details, high-quality photos, and engaging content not only boosts your online visibility but also instills trust in potential clients. In Real Estate first impressions matter, a well-maintained Google business profile can be the key to attracting and retaining clients, ultimately helping you as a realtor succeed in a competitive market.

Escrow Tip of the Month – January 2024

This month’s tip comes from Thena Christensen, Escrow Officer in our Clackamas office.

It’s hard to believe that we are already beginning a new year in 2024. This is the time everyone starts to think about paying their taxes. Phone calls, and emails start coming in from clients asking for 1099’s and final statements in January.  1099’s are sent out in the mail at the end of January, and final statements are available anytime to send via email.  If your client does not receive a 1099, we are happy to request one be resent for them, or if there are any changes, we can request an updated 1099 be sent via email or mail.  Please direct your clients to call the escrow officer that closed their transaction for help!

Need assistance? Our customer service team is here to help. Reach them via email at ticor.resource@ticortitle.com or by phone at 503.219.1000

Ticor Thursday Webinar – January

This month’s webinar is on Thursday, January 18th at 10am on Zoom. Our topic is Real Estate Tax Planning, taught by Chris Moses, CPA with Geffen Mesher.

Click here to register or scan the QR code below.

Tech Tool of the Month – TicorAgent One

TicorAgent ONE is a city/county specific closing cost app that comes preloaded with calculations and closing costs for Real Estate professionals. Generate quick and professional seller net sheets and buyer estimates for your clients in just seconds. TicorAgent ONE is jam-packed with features that are sure to wow your clients!

TicorAgent ONE enables you to create and share visually stunning net sheets on the fly:

  • Seller Net Sheets – Make dynamic presentations & offer breakdowns and counters in a snap
  • Buyer Estimates – Get payment info and estimated funds to close in a flash
  • Monthly Affordability – Show your buyer what they can afford based on their desired payment
  • Sell to Net – Seller have net goal in mind? No problem with sell to net
  • Rent vs. Buy – Show renters that buying may better for them than renting

Eliminate guesswork and potential delays by automatically leveraging closing costs and fees specific to your local market!

  • Taxes
  • Title Fees
  • Escrow Rates
  • Closings Costs

TicorAgent ONE gives real estate professionals the confidence to quickly provide accurate answers to the most frequently asked real estate questions and presents information to buyers & sellers in professionally designed layouts.

Contact Your Sales Executive Today to Learn More!

Property Tax Cycle & Impound Chart in Oregon

Property Tax Cycle & Impound Chart

Important Dates, Assessment & Tax Rates

Property Assessment

The appraisal process identifies taxable property and assigns a value to it. County
assessors appraise most Oregon property and the property value is determined as of
January 1 each year.

Property subject to taxation includes all privately owned real property (land, buildings,
and fixed machinery and equipment), manufactured homes, and personal property used
in a business. Items with no property tax include:

  • Personal belongings and automobiles.
  • Crops & orchards.
  • Business inventories.
  • Household furnishings.
  • Certain intangible property.

Tax Rates

Taxes are certified by the taxing districts and the county assessor places them on the tax
roll each year in the Fall. Taxes are placed on the tax roll in the form of a rate per $1,000
of assessed value.

When a district certifies a dollar amount tax levy, such as a local option tax or bond
tax, the assessor must calculate a tax rate. To compute a tax rate, the tax levy amount
is divided by the taxable assessed value of the property in the district. This tax rate is
placed on the individual property tax accounts in the district.

The total amount of tax placed on a property is computed by multiplying the property’s
assessed value by the combined tax rates of all the districts in which the property is
located and then adding any assessments.

Does your Real Estate Website new a REFRESH?

Refresh Your Website

Are you looking to refresh your real estate website in just 7 days? Follow this checklist to ensure that your website is up-to-date, easy to navigate, and optimized for search engines.

Day 1: Verify Your URL and IDX Search Function

The first thing you need to check is if your website has a unique, personalized URL. This will make it easier for people to find your website and remember it. You can purchase a domain name from popular domain registrars like GoDaddy or Namecheap.

Next, make sure that your website features an IDX search function for listings. This will allow your visitors to search for homes in their desired location, view photos and property details, and contact you for more information. IDX plugins like IDX Broker or Showcase IDX can easily integrate with your website.

Day 2: Create the Essential Pages

Your website should have a few essential pages that provide valuable information to your visitors. Make sure you have an About Me page, where you can introduce yourself and your team. You should also have separate pages for Buyer and Seller information, as well as content related to any specialty niches you serve, like luxury homes, commercial real estate, or property management. Include testimonials from your satisfied clients to build trust and credibility.

Finally, add a page with local area information to showcase your expertise in the area. This can include information about schools, parks, restaurants, and other attractions that would be useful for potential buyers.

Day 3: Optimize Your Website for SEO

Search engine optimization (SEO) is crucial to ensure that your website ranks well in search engine results pages (SERPs). Use hyperlocal keywords in your website’s content to increase your visibility in local search results. Add your business address and phone number to your website’s footer and use structured data markup to help search engines understand your website’s content.

Day 4: Ensure Brand Consistency Across Platforms

Your brand should be consistent across all platforms, including your website, social media, Realtor.com, Zillow, Redfin, and any other platforms you use. Make sure your bio, headshot, and logo match across all platforms to create a cohesive and recognizable brand.

Day 5: Check Links and Navigation

Make sure all your links go to the right destination, including your social media links. Check your website’s navigation and ensure that it’s easy to use and intuitive. You should also check the loading speed of your website and make any necessary improvements.

Day 6: Proofread Your Website

Before launching your refreshed website, make sure to have someone proofread it for errors in grammar, spelling, or punctuation. Typos and grammatical errors can make your website look unprofessional and damage your credibility.

Day 7: Plan an Ongoing Content Strategy

Finally, consider implementing an ongoing content strategy, like blogging, podcasting, hosting regular videos, or other types of content that will keep your website fresh and up-to-date. This will help you attract and retain visitors and establish your brand as a thought leader in the industry.

Refreshing your real estate website in just seven days is possible if you follow this checklist. Start with the basics and work your way up to more advanced tasks, like SEO and ongoing content creation. With a little bit of effort and attention to detail, your website can become a valuable asset for your real estate business.

Fidelity National Title Group

Ticor Title is a part of FNTG, the nation’s largest title insurance and escrow services company.

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