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Year-Round Sports in Portland

Wednesday, May 30, 2007
by Rob Levy, Prudential Northwest Properties

Posted by Cathy Hill

Portland is widely known as one of the best year-round outdoor playgrounds in the United States.  In the fall and winter, we're less than an hour away from snowshoeing, cross-country skiing, and downhill skiing at or near Mt. Hood.  During spring, we enjoy the tail end of winter sports and head towards summer options, including hiking, biking, and anything on the water!

An old favorite of mine from my days in Hawaii is outrigger canoeing, which I describe to people as "what they did on Hawaii 5-0".  Outrigger canoeing is widely recognized in Polynesia as a sport which honors the water, in addition to enjoying it for fitness, camaraderie, and sportsmanship.  Here in the Northwest, the Pacific Northwest Outrigger Racing Canoe Association is a great resource for interested folks.  The association is comprised of clubs in Washington, Oregon, and Montana and offers opportunities for people of all fitness levels.  Before moving to Portland myself just about 3 years ago, I did some research to be sure I could continue this personal favorite, even on the river!   Enjoy the summer - there are so many options for enjoying the outdoors and for getting fit!

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Selecting a Real Estate Team!

Tuesday, May 29, 2007
by Rob Levy, Prudential Northwest Properties
Submitted by Sandra Hanis
 
It is an important decision who you choose to represent you as a buyer or a seller. On Rob Levy’s Team, each associate is experienced and knows the Portland market inside and out. We are backed up by a support team who takes the transaction from beginning to end…that translates to not missing a step for buyers and sellers in a very complex process.
We are prepared to work with your lender or we work very closely with Shawn Headlee of Columbia Mortgage who gets raving reviews from our clients. Shawn always treats our clients as he would his personal clients assisting them in finding the best loan for their situation and most importantly making sure our clients’ home closes when they need to!
We have worked with Fidelity Title for years to allow homes to close in a timely, professional manner. In the situation where you have a relationship with another title company, we respect that and will work with the clients’ needs first.
Prudential Northwest Properties offers a unique service to our buyers with Home Services. Our personal coordinators are there for you to assist with all kinds of related services to aid your move…whether you are in the Portland metro area or are working from long distance. Home Services has been invaluable so many times as they find reliable contractors for you, it saves you time…and they even offer a discount on services!
You can check out more valuable links at www.roblevy.com. Feel free to give us a call anytime for a complimentary estimate on your home or to speak with one of our experienced broker/agents. Maybe this is your year to make a real estate decision!
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Understanding Property Taxes and Terminology in Oregon

Tuesday, May 22, 2007
by Rob Levy, Prudential Northwest Properties
Submitted by Tamara LeMaire, Fidelity National Title Insurance Company
 
Property Taxes can be very confusing for home buyers.  Here is a brief explanation to help explain the way Oregon Property taxes work:
 
Oregon Property Tax are levied and become a lien on the property July 1st of each year with payments due November 15 of the same calendar year.   Taxpayers may elect to pay in thirds and if they do so, no discount is allowed, and the first one-third is due November 15th, the second one-third is due on February 15th and the final one-third is due May15th. A discount of 3 percent is allowed if full payment is made by November 15th; a 2 percent discount is allowed for two-thirds payment by November 15th. For late payments interest accrues at a rate of 1 1/3 percent per month and is assessed from the 15th to the 15th. Taxes are delinquent as of May 15 if not fully paid. Remember that although the taxes can be paid in one-third increments, that any unpaid taxes are a lien and need to be considered as such on a refinance or sale.
 
The tax year runs from July 1st to June 30th. Taxes are “certified” usually by October 15th, which means the values are set for the year. Taxes are due November 15th. When you pay in November you are paying for the previous July to the next June 30th.
 
You can appeal your property tax value from October 15th to December 31st of the tax year. To do this, you would appeal to the Board of Property tax appeals; sometimes called the Board Equalization. Call your county for details. Property taxes are still expected to remain current during this process.
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Why Buy a Home in Portland, Oregon?

Monday, May 21, 2007
by Rob Levy, Prudential Northwest Properties
Submitted by Bruce Hecht
 
Have you seen the latest real estate news from Portland Oregon?  The headlines
talked about the continued downtrend in the national market and that it is NOT appearing in Portland Oregon housing market!
 
It said that the real estate slump and downward trend that has been plaguing the nation, missed Portland and the Portland, Oregon real estate market continues to be active, strong and the buyers and sellers are still buying and selling homes.

Why?   Portland, Oregon real estate market continues to be the best buy and best kept secret on the entire west coast!  The greater western Washington market has not missed a beat either.  However, the average priced home in western Washington is almost double of the average priced home in Portland, Oregon.  The average priced home in California, even with their recent drops, is still approximately 2.5 times what it is in Portland Oregon.
 
The average buyer can still afford and buy a great home in great locations, near parks,water,libraries, shopping and mass transportation in Portland Oregon for a great price!



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Portland to the Coast in 90 Minutes - Such a Gorgeous Drive!

Monday, May 21, 2007
by Rob Levy, Prudential Northwest Properties
Submitted by Rob Levy
This past weekend I did what I often do, I went to the Oregon coast for the weekend.  But today I was daydreaming and thinking how lucky I am that I live in Portland, Oregon and can be on the beach within 90 mintues of leaving my home or office.
 
The North Oregon coast is one of the most gorgeous places on the planet and starting from north to south consists of the cities of Astoria, Gearhart, Seaside, Cannon Beach and Manzanita.  All of these can be accessed from the Portland area by either highway 26 (Sunset Highway) or for Astoria also Highway 30.  Let alone though is the coast beautiful in its own right but the drive there is over the coast range and is a gorgeous drive through NW rainforest, over the summit and then following fast flowing streams on their way just like me to the pacific ocean.
 
Things to do on the coast include salmon fishing, whale watching, walking for miles on empty sand beaches, camping and hiking at areas like Ft Stevens state park, or playing tourist in the cities like the Astor Column.
 
As a Portland resident, you need to make sure you go to the coast at least once during each season, they are all different.  Being on the beach on a hot east wind day in the summer is just as delightful as storm watching in the middle of January.  Again, its just one more reason I am so happy I live here.
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Portland Weather - I Will Take the Rain for a Nice Portland Summer Anyday!

Monday, May 21, 2007
by Rob Levy, Prudential Northwest Properties

Submitted by Sandy Morley

Portland's weather is often known to be blah blah blah rain.  What most people don't know is that our average rainfall is less that Atlanta, Birmingham, Houston, Indianapolis or Seattle!  We do get cloudy days... and some with drizzle and others with a good rain storm - but it is truly the summers in Portland that make it all worth the while.  Even better - it is that we have GREEN summers!  Due to our 36.3" of rain on average each year, our trees stay greener longer and it keeps our environment healthy!  All the beauty of our surrounding nature helps Portlanders get outside, go hiking, and appreciate where we live.  We also get to enjoy summer days that are not too scorching hot, but just right.  When it does peak 100 degrees - the kids will love it, and we will know that it most likely won't last more than a day or two.  When the sun comes out in Portland, locals fill the streets downtown sipping mochas, cocktails and enjoying the great city we live in.

 

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Too Old to Play Basketball? Apparently I Am - But I Can Still Get You a Great Loan!

Monday, May 21, 2007
by Rob Levy, Prudential Northwest Properties
Submitted by Shawn Headlee
Hello all,
 
I was out most of last week due to reconstructive knee surgery. I had my ACL replaced... again. I had it done 9 years ago and thought I was going to be able to play basketball like I did as a youth - apparently I was wrong. I am still in recovery mode, but should be walking without a brace in a week or so. My surgeon, Brad Butler of the Orthopedic and Fracture Clinic is amazing if you need a good recommendation. 
 
As many of you may have noticed, rates have been inching upward due to some positive economic news.  The average 30-year fixed-rate mortgage went up three basis points to 6.38% according to an article on HSH Associates Financial Publisher.  In the mortgage business, many lenders want the economy to do just poor enough that everyone still has jobs, but that the rates drop to stimulate a recovery.  This is what we saw happen in the first half of the decade and now that things are swinging upward the interest rates may begin to rise.
 
Have a great week!!
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Still a great time to buy a home or investment property in Portland Oregon, look at the #'s

Wednesday, May 16, 2007
by Rob Levy, Prudential Northwest Properties

Submitted by Bruce Hecht

I found this great article by Dean Treftz from The Wall Street Journal Online to be very interesting discussing the national and local market trends.

Where Home Prices Are Hot Now Despite the Housing Slowdown

The housing news isn't all grim. Even as prices sag nationwide, there are several cities in the country where home values are climbing smartly.

Portland, Oregon, Boise, Idaho, Seattle, Salt Lake City, Houston, Austin, and Charlotte and Raleigh, N.C., are among the cities bucking the national trend. Homes' appreciation there between the fourth quarters of 2005 and 2006 far exceeded the national average of 5.9%, according to the Office of Federal Housing Enterprise Oversight.

"All real estate is local, despite the headlines," says Lawrence Yun, the senior economist for the National Association of Realtors. Nationwide, the median existing-home price fell 1.3%, to $212,800 in February from $215,700 in February 2006, according to preliminary NAR statistics.

Most of the cities also have one or more strong industries to drive their economies, like Nike, Columbia Sportswear, Intel just to site a few examples. Their economies are strong and housing prices are still perceived as affordable, luring buyers into the market.

Today's declining prices nationwide are in part the result of an earlier explosion of short-term investors in Florida, California and other booming markets. Recently, both investors and long-term homeowners have been cashing in or cutting losses in formerly hot markets and settling in areas that avoided the boom, such as the Carolinas, parts of Georgia and Tennessee, areas of Texas, the Western mountain states and the Pacific Northwest.  The growth of Portland, Salt Lake City, Boise and Seattle can be attributed in part to an influx of former Californians and people opting out of slumping Las Vegas or Phoenix. The trend may have created smaller echo booms.

While some experts worry that a new group of states could face a boom/bust cycle, local real-estate agents and expert economists predict stable and steady growth for the near future. Since the cities have strong economies and builders, lenders and investors are increasingly cautious, homes are less likely to become extremely overvalued than in booming markets in the first half of the decade.


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60 Minutes Article on Discount Brokerages

Tuesday, May 15, 2007
by Rob Levy, Prudential Northwest Properties

On Sunday 60 Minutes, one of the most respected names in television journalism history produced one of the most one sided, articles I have ever seen.  As a long time viewer and admirer of the show, I was shocked at what they did.  I have listed the information I and others - including the National Association of Realtors (NAR) - feel they have done wrong...

All I can say at this point is there is always a need for all type of companies in helping consumers buy and sell real estate, and I for one welcome them.  But whats fair is fair, and 60 minutes needs to present BOTH sides of the story.

Here are some examples of the misinformation:
Error: The six percent commission is "sacrosanct."
Fact: All commissions are negotiable. The average commission rate is not 6 percent, but 5.1 percent, according to Real Trends, a national industry magazine.

Error: NAR is the industry's "governing body."
Fact: NAR is a trade association. It does not govern the industry.

Error: In 2003, NAR issued new rules of its own that threatened to block Internet discounters' access to the MLS.
Fact: The Virtual Office Website policy did not block access to MLSs for discounters or any other brokers who are members of the MLS. Discounteres listings ARE shown in the Portland MLS

Error: The MLS is the database that lists virtually every home for sale in the country.
Fact: There is no single national MLS. Rather, there are more than 900 local and regional multiple listing services. These are not simply "databases" but private exchange of offers of cooperation and compensation between real estate brokers.

Error: Eight states have "minimum service laws" that require REALTORS® to provide a level of service many Internet discounters can't afford.
Fact: "REALTOR®" is a trademarked term and should never be used synonymously with "real estate agent." The intent of minimum service laws is to ensure consumers receive a minimal level of service from licensees.

Error: The brokerage industry has a powerful lobby. Eleven states flatly prohibit rebates.
Fact: The intent of anti-rebate laws is to prevent kickbacks in real estate transactions, not to limit brokers' incentives to attract customers. The brokerage industry does not lobby for anti-rebate laws.

Other key points 60 Minutes misrepresented or overlooked:

  • NAR supports all business models and favors none. Our 1.3 million members include REALTORS® who work on a full-service basis, as well as those who consider themselves to be limited service, fee-for-service, minimum service, and discounters. We think it's great that consumers have a choice today.
  • The real estate industry has harnessed technology for the benefit of consumers and will continue to do so. Real estate is both high-tech and high-touch, so can be enhanced by both electronic and personal interaction.
  • There is no such thing as a "standard commission." Commissions are negotiable and prices vary. The fact is that commission rates have decreased 16 percent from 1991 to 2004 (source: Real Trends).
  • The real estate business is unique in that competitors must also cooperate with each other to ensure a successful transaction, and MLS systems facilitate that cooperation. The first MLS was created more than 100 years ago as way for brokers to share their listing agreements with each another in hopes of procuring buyers for their properties more quickly and efficiently than they could on their own.
  • The MLS is a tool to help listing brokers find cooperative buyer brokers to help sell their clients' homes. Without the collaborative incentive of the existing MLS, brokers would create their own separate systems, fragmenting rather than consolidating property information.


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    Portland: The Most Bikeable City in America

    Tuesday, May 15, 2007
    by Rob Levy, Prudential Northwest Properties
    Submitted by Aaron Levy
    It’s no wonder that Portland has been deemed one of the most bikeable cities in America; it takes no time at all to get most anywhere you need to go by bicycle. Practically everywhere you go, the streets seem to be filled with bikers. It’s a cheap and easy way to travel around the city. There are many bicycle related events which take place all year round, and the best way to learn about these events is through Critical Mass, which is described as “a leaderless, spontaneous bike ride through the streets of Portland.” Basically, it is a friendly gathering of bicycle enthusiasts of all ages that takes place during rain or shine! It really is a great way to start getting yourself involved within the bicycling community. Bridge Pedal is an annual happening in which you can get the best feel of the city by biking across all 10 bridges, including the top decks of the Marquam and Fremont bridges. I did this one last year, and it was a lot of fun! There’s nothing quite like riding your bike over the top deck of the Fremont Bridge. Perhaps the zaniest biking event is Pedalpalooza, which spans from June 7th-June 23rd. With a wide variety of events such as tall bike jousting, a bike pub crawl, and even a midnight ride in the nude (for those daring enough), there’s definitely something for everyone.
     
    Portland’s biking community is growing stronger every year, with more and more bike-friendly activities taking place all the time. Come enjoy all that Portland has to offer!
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