Derek Covey - Realtor

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Derek Covey - Realtor Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Derek Covey - Realtor, Estate agent, .

I live and work in the Southeast Portland, Oregon and work with buyers, sellers and builders helping them buy or market and sell homes, land and investment properties throughout the Greater Portland Metro Area.

Below is from: https://www.portland.gov/transportation/vision-zero/flock...A colorful, tongue-in-cheek message designed ...
11/07/2022

Below is from: https://www.portland.gov/transportation/vision-zero/flock...

A colorful, tongue-in-cheek message designed to encourage people to slow down when driving. Slow the flock down! It’s the latest message to people driving, courtesy of the Portland Bureau of Transportation (PBOT) and the Seattle Department of Transportation (SDOT). The campaign, developed by SDOT, reflects the partnership between the Pacific Northwest’s two largest cities.
Yard Signs Available for a Limited Time - While supplies last, Slow the Flock Down yard signs are available first-come, first-served, at the following times and locations:

Starting on Monday, July 18 - Portland Building front desk, 1120 SW 5th Avenue
Starting on Monday, July 18 - SE Uplift, 3534 SE Main Street
Sunday, July 31, Blumenauer Bridge Celebration, NE 7th Avenue & Flanders Street
Sunday, July 31, Montavilla Street Fair, SE Stark Street between 76th and 82nd avenues
Sunday, August 7, East Portland Bike Fair
Sunday, August 21, Sunday Parkways, East Portland

A colorful, tongue-in-cheek message designed to encourage people to slow down when driving.

https://www.technologyreview.com/2022/04/13/1049227/house-flipping-algorithms-are-coming-to-your-neighborhood/"The third...
13/04/2022

https://www.technologyreview.com/2022/04/13/1049227/house-flipping-algorithms-are-coming-to-your-neighborhood/

"The third matter, valuations, remains by far the thorniest. Automated valuation models (AVMs) are proprietary data systems that take in sales prices from the US’s 600 multiple listings services—the real estate agent’s bread-and-­butter data—and combine them with information from mortgage lenders, public data sets, and map data like Yelp reviews of local bars, plus private data sold by real estate analysts. First-party data is increasingly accumulated, too: Opendoor created an app for in-person inspectors, pre-covid, with a 100-point checklist, while today, sellers perform self-­service virtual assessments."

"Opendoor’s tech chief, Ian Wong, says the foundation of their work is data cleansing—taking partial, duplicated, and contradictory data and parsing it to produce reliable insights. But “human-in-the-loop” systems remain vital, he says. The company has real people annotate visual data, adding labels in a manner he likens to the processing done on crowdsourced platforms similar to Mechanical Turk."

"One goal of this data work is to eliminate the so-called “lemons problem.” So far, AVMs have been able to access only a portion of the information that a family selling its home knows, explains Amit Seru, a professor of finance at the Stanford Graduate School of Business—failing to appreciate architectural style, unruly neighbors, how light hits the porch on late summer evenings, and myriad qualities contributing to a house’s human appeal. Consequently, these AVMs can lead iBuyers to disaster when some sellers offer up “lemons” (dud homes, say, with stinking carpets) and others offer “peaches” (a charming home in a neighborhood full of amenities). By bidding an average price for both homes, the iBuyer ends up paying too much for lemons, while families with peaches—who feel harshly undervalued—refuse to sell."

Looks like good job security for experienced, well seasoned brokers for the foreseeable future:)

Despite millions of dollars in losses, iBuying’s failure doesn’t signal the end of tech-led disruption, just a fumbled beginning.

https://finance.yahoo.com/news/pros-cons-waiting-hot-housing-130022861.htmlReminds me of that old Zen Koen: "When the st...
12/04/2022

https://finance.yahoo.com/news/pros-cons-waiting-hot-housing-130022861.html

Reminds me of that old Zen Koen: "When the student is ready, the teacher will appear.":)

The pandemic put only a temporary damper on the housing market, as the market rebounded robustly, hotter than ever, particularly in 2021. As we've rolled into 2022, the market is starting to simmer...

https://seekingalpha.com/article/4500787-housing-market-warning-signal-homebuilder-stocks-down"The traders are right and...
12/04/2022

https://seekingalpha.com/article/4500787-housing-market-warning-signal-homebuilder-stocks-down

"The traders are right and the home buyers are wrong. This is probably the most likely scenario given that banks and long/short hedge funds have sophisticated data on consumer-facing stocks like retailers and homebuilders, while many buyers are acting on emotion. Academic research shows that the stock market tends to lead the real economy by 6-12 months, so this would portend a looming housing correction hitting full steam by autumn."

"The buyers are right and the traders are wrong. I don't think this scenario is right but it should be considered. Given that homebuilder stocks are trading for 5x earnings or less, this would make them among the highest upside stocks in the market if this time is indeed different. I don't think there's much dispute that housing is cyclical, but if the cycle lasts longer than expected you could find yourself saved by the bell with a nice profit to spare."

Both can't be right and time will tell!:)

After some of the largest and most rapid price increases in history, is the housing market a bubble? Read why Wall Street is dumping homebuilder stocks.

https://boston.cbslocal.com/2022/03/04/iteam-real-estate-homeowner-benefit-agreement-rutland/MV Realty based in Florida ...
06/04/2022

https://boston.cbslocal.com/2022/03/04/iteam-real-estate-homeowner-benefit-agreement-rutland/

MV Realty based in Florida is already here in Oregon with 12 agents and plans to hire another 20 according to what their recruiter told me last month. In doing a little research, I came across this article online. Please share this article with anyone thinking of working for or with them.

Heads up, eyes and ears open, watch where you step!:)

A realtor put a lien on a couple's home after they signed a Homeowner Benefit Agreement.

https://seekingalpha.com/article/4498666-us-housing-is-a-dead-man-walking"There is not a shortage of housing. There are ...
01/04/2022

https://seekingalpha.com/article/4498666-us-housing-is-a-dead-man-walking

"There is not a shortage of housing. There are plenty of places for people to live in the U.S. The issue is that too few of them are currently for sale."

"The number of housing units per capita in the U.S. peaked in 2008 around 0.428. Today the ratio has climbed to 0.427. The number of units per working age person was approximately 0.665 in 2008 while today it is 0.693 per person."

Nice to get a different perspective on the US housing market and the 10+ graphs are an added bonus!:)

There is not a shortage of housing, only a shortage of sellers. New home construction is outpacing population growth and going to lead to overbuilding.

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Opening Hours

Monday 07:00 - 19:00
Tuesday 07:00 - 19:00
Wednesday 07:00 - 19:00
Thursday 07:00 - 19:00
Friday 07:00 - 19:00
Saturday 07:00 - 19:00
Sunday 07:00 - 19:00

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+15034219818

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