Real Estate Information

An interesting article in today's Portland Oregonian about prices have declined some in 2011 however Portland is one of a few markets where prices are expected to increase in 2012.  The Oregonian Article can be seen by clicking HERE.  The article says prices fell in 2011 but have now turned the corner into 2012.

Given this information, and also a recent article in the Willammette Week about Portland being "Renter Hell" (meaning a REALLY low vacancy rate), as well as historically low interest rates, maybe now is also a time to look at buying a rental property ?

The Rob Levy team has over 50 years combined experience in the Portland real estate market.  We have unparalelled access to bank owned homes too.  Give us a call if you are thinking about looking for a home now for yourself, for a 2nd home (yes, we are selling many of these) or for a rental.

It seems when the property rental market is already tight in Portland, the market gets even tigher. Articles abound in various publications but a recent one in the Willamette Week really sums it up - the title is "Renters Hell" and explains why we are in the nation's toughest rental market.

The main issue is due to the high distressed property rate now (as much as 37% of all sales in metro Portland - distressed means either a short sale, or bank owned sale) many former homeowners are looking for places to rent, at the same time as a city known for appealing to the younger crowd (typically who are renters) from all over the country.  Property owners are also pleased because someome who formerly owned a home and is now a tenant usually rents for a longer period because they can't purchase another home for four or more years, and they tend to have a "homeowner" mentaility, so are easier to work with than a new to renting tenant, and in a market where there is a lot to choose from.

Investors out there....  There are lots of great buys out there with houses selling at low prices, with low interest rates and now a shortage of rentals. Maybe now is a good time to think about adding to your portfolio, or buying that first rental.  Check with the Rob Levy team at Atlantic & Pacific Real Estate today, we have unparallelled access to bank owned homes, many of which make for perfect rentals.

Many people either own a house that needs fixing up, or are thinking about purchasing a home which is affordable largely because it needs extensive repairs. Home repairs can be quite costly, however, and may not be affordable for those with less than ample budgets. There are also instances where the ability to pay back a loan on a house is not an issue, but a lender will still not allow a purchase for a variety of other reasons. This is where a 203k rehab loan can be the key to allowing you to own the home you have always dreamed of owning.

203k loans are government-based loans offered in situations where an investment would be considered high risk by the lender. The FHA's 203k rehab loan was created to provide homeowners with the resources to allow them to turn a damaged property into a livable home. From simple repairs to more drastic overhauls of a home, these loans are arguably the most reliable means of turning a questionable home into a sound investment, not to mention a sound dwelling. Generally, 203k loans are used to service homes in need of slight repairs, but they can be used for more involved improvements, and they cover the use of licensed contractors in the event that the loan borrower cannot complete the project without help.

The 203k rehab loans permit a wide variety of repairs to the home and surrounding area, but there are notable exceptions. Some of the repairs and work not permitted by these loans include landscaping and yard work, major remodeling, or fixing structural damage. It generally allows for more subtle repairs such as painting, addition or removal or doors, minor repairs or enhancements to kitchens or bathrooms, plumbing and electrical work and flooring, among many others. There are special terms and requirements that also come with each loan, including:

• The property must be the borrower’s own
• Work needs to be professional, and completed in a six month time frame
• The property must not be vacated for more than a month
• Depending on the situation, the borrower must possess a permit for the work done if one is required.

Despite some of the terms and limitations set forth by the loan, it is arguably the most helpful method for getting the necessary work done.

All aboard the Mt. Hood Railroad!  Only this is no ordinary train ride, but in fact an experience unlike any other.  Named for the highest mountain in Oregon, the iconic Mt. Hood which rises above the trees to 11,239 feet, this train commemorates the beauty of the state and is reminiscent of a time when the railroads roamed the United States almost exclusively.  Tour the exquisite forests of Oregon on this historic railroad fashioned to create a memorable experience.  Choose to travel on a Sunday and enjoy a leisurely brunch on board, or take an afternoon excursion for four hours to one of two mountain towns.  Exercise a flair for the dramatic and jump at the chance to dress up for an evening of elegant dining while sleuthing through a murder mystery party. 

Whether hopping on board a holiday lunch train for an afternoon of relaxation or riding to ring in New Year's Eve in a whole new way, choose to celebrate special days in an extraordinary way.  Departing from Hood River in Oregon, each Mt. Hood Railroad ride is a memory that will last, so gather a group for a family event or party, or charter an entire car for an intimate travel experience that everyone can enjoy.  For an unparalleled view of the Hood River valley, book a seat on the premium dome car, or dance the night away in the new Lewis and Clark car, fully equipped with a DJ or live music.  For an experience never to be forgotten, take a trip on the Mt. Hood railroad soon!

In a major decision for future land use and zoning in the Portland area, the regional Metro council voted on October 20 to expand the urban growth boundary (UGB) by 1,985 acres. All of the expanded growth areas are in Washington County. Except for 330 acres, all the expansion will be dedicated to residential development. This is a smaller expansion than has been done in the past. This decision now goes to the Oregon Land Conservation and Development Commission for final approval, which is expected in February. The decision is not without controversy, as the land use group 1000 Friends of Oregon intoned against expansion of the UGB, while the Westside Economic Alliance believes the decision was “timid, underachieving and uninspired,” and wanted more land to be included within the growth boundary.

Urban sprawl has been a major issue facing cities for decades. In response to this problem many states such as Washington and Oregon have created Urban Growth Boundaries (UGB) to limit urban sprawl by restricting growth beyond its boundaries. It allows for better management of future expansion with a focus on ‘in-fill’ of under-developed land within its borders. Several large U.S cities have adopted a UGB but none have gone as far as Portland, Oregon.

Not only does Portland have a UGB, it is unique in the U.S. for having a directly elected metropolitan planning group, called Metro. This organization is responsible for controlling growth not only in Portland but in the surrounding cites which border it spanning three counties.

Metro’s prime focus is on managing land development inside the UGB and dealing with transportation concerns. Dealing with traffic issues is usually one of the most important aspects in any UGB since the higher population density makes urban traffic problems worse. Metro is famous nationally for its promotion of light rail and trolley service through the regional transit company TriMet.

Expanding the UGB is not done lightly but in response to Metro’s mandate to keep a certain amount of population density projected out in 20-year cycles. The most recent expansion of the UGB by 1,985 acres was in direct response to the projected future need for jobs and housing. In addition to this expansion, Metro has moved to acquire land to allow a new East-West light rail line connecting the eastern edge of the UGB whose topography limits auto access.

To minimize the amount of times the UGB has to be expanded, Metro has land use laws which promote houses on smaller lots where the emphasis is on building up rather than out. For example, a plot which held in the past held two older single family homes would now be replaced with four dwellings.

Metro also works with the city governments under its umbrella to help create viable neighborhoods which have the businesses needed to limit travel for entertainment or shopping. This neighborhood emphasis has created a vibrant culture where different parts within the Metro UGB each have their own unique flavor. Metro works to balance the need for growth with the desire protect many of the natural areas which make the Portland area so desirable.

The Oregon Museum of Science and Industry, or OMSI, is a 219,000 square-foot state-of-the-art science center. Originally, conceived more than 100 years ago by naturalist John Cyprian Stevens, the museum itself began to take shape after World War II. Today OMSI boasts a 300-seat dome-screen OMNIMAX Dome Theater (the first in the Northwest), a 200-seat Kendall Planetarium, and the USS Blueback, the last non-nuclear powered submarine built by the Navy. With five exhibit halls, OMSI offers hundreds of interactive displays and exhibits, and is ranked as one of the top science centers in the country.

Turbine Hall provides a window into how technology and the physical sciences are changing the world. Visitors can build an aqueduct, program a robot, and even feel an earthquake.

The Science Playground offers children ages 6 and younger a place to play with sand and water, puppets and books, and more in this fun and funky exploration area.

Life Science Hall explores the mystery of life, including growth, development, and aging, and how technology shapes health care.

Earth Science Hall focuses on the science of our planet, and includes exhibits on environmental hazards and global climate. 

Kendall Planetarium “blends art, science, fantasy, and fun.” It is the largest and most technologically advanced planetarium in the Pacific Northwest, offering multimedia presentations on astronomy and space science.

The OMNIMAX Dome Theater features a five-story domed screen covering more than 6,000 square feet of projection surface. It also has a 2D IMAX projection system with the largest frame in the motion picture industry.

USS Blueback

The USS Blueback was the first battle-ready class of submarines to use the teardrop hull and was in official operation in the Pacific Ocean for more than 30 years. It has appeared in a variety of films and television programs. Visitors can peer through a periscope, touch a torpedo, and climb the crew’s quarters, while learning how a submarine works.

OMSI offers a world of new experiences for the young and old alike. Rotating exhibits document the science and wonder of the world around us, and have included such diverse presentations as those celebrating Leonardo da Vinci, the human body, sharks, dinosaurs, and even the literary works of C.S. Lewis.

Entrance into OMSI requires an admission ticket or a museum membership.   Members are allowed unlimited access to the museum itself, and receive special discounts and guest tickets.  And through OMSI’s participation in the Association of Science and Technology Centers, members can also gain access to over 200 additional science centers and museums throughout the country.  An OMSI membership provides incredible learning and recreational opportunities for those who like to explore, dream, and grow!

Portland Walking Tours

As one of USA Today’s Top Five Walking Tours in the country, Portland Walking Tours offers 5 tours (Cultural, Sub-Culture, Supernatural, Indulgent, and Culinary) every Friday, Saturday, and Sunday, and have just added one more tour to celebrate our “City of Roses.”

Best of Portland Tour

This cultural tour highlights the city’s artwork, parks, fountains, bridges, trains, streetcars, and more. Best of Portland was named “Best Way to Fake Being a Native” by Willamette Week. The tour begins outside the Broadway entrance of the Hilton Hotel at SW Broadway and Salmon and leads to the waterfront.

The tour offers a history of Portland, including the inside story of the city’s eleven bridges. Tour participants will get the inside story on “The City that Works,” the bronze drinking fountains, and over 30 pieces of public art.

Underground Portland

This tour focuses on the corrupt and shady history of the city, winding through Old Town and Chinatown to the legendary ‘Portland Shanghai Tunnels’ beneath the city. The tour begins outside of Old Town Pizza on Davis. In addition to the history behind the city’s Shanghai tunnels, other highlights include the varied locations that The Simpsons television show is based on. You will also visit the site of “the most arrested man in the Northwest,” and the storied locations and buildings that once hosted notorious criminal activity.

Beyond Bizarre

Showcasing just why “Keep Portland Weird” is Portland’s unofficial slogan, this tour offers the wacky, the paranormal, and yes, the weird, using real ghost hunting equipment to visit famous haunts and hauntings. Portland Walking Tours is an official member of the International Ghost Hunters Society, and have a paranormal expert and a clairvoyant available for the tour itself. Highlights include glimpses into the profession of documenting, identifying, and understanding paranormal activity, as well as tales of dark secrets and strange rituals. The tour begins outside of Old Town Pizza on Davis.

Chocolate Decadence

This tour showcases local chocolate vendors and chocolatiers. You will learn about chocolate’s lineage from bean to confection. Participants will indulge in truffles and caramels, gelato and sorbet, cookies and croissants, and while also tasting Pinot Noir and Pinot Gris from the Willamette Valley. The tour begins inside and upstairs in the mezzanine library of the Heathman Hotel.

Epicurean Excursion

Portland has become of the country’s premier destinations for great cuisine. This tour is for foodies who want to build on their culinary knowledge and skills, learning what it means to be a locovore, the philosophy of F.L.O.S.S. (Fresh, Local, Organic, Seasonable, and Sustainable), and the history of the Slow Food Movement. The tour also includes “Portland’s Liquid Assets”: the microbrews, wines, spirits, coffees, sodas, and teas that make the city proud. The epicurean delights will be diverse and plentiful, and include artisan doughnuts, pizzas, chocolates, pastries, sandwiches and much, much more. The tour begins inside and upstairs in the mezzanine library of the Heathman Hotel.

Roses Gone Wild

This tour reveals the facts, secrets, mysteries, and stories behind the world-famous International Rose Test Garden. Learn the truth behind a successful rose, why the legendary blue rose is excluded from the garden, who the “Rose Bro’s” are, with the stunning views of the city as a backdrop. This tour begins across from the Rose Garden store at the International Rose Test Garden.

Guided walking tours provide a great way to experience the city up-close and personal, while learning the fascinating history of what makes Portland so unique. So, put on those comfortable shoes and explore!

Each September Mt. Angel celebrates Oktoberfest, which be held this September 15-18. Located 18 miles northeast of Salem on Highway 214, Mt Angel boasts Bavarian style storefronts and Benedictine Abbey built in 1883, and sits high on a bluff with views of Mt. St. Helens, Mt. Hood, Mt. Adams, and Willamette Valley. Oktoberfest actually means Harvest Celebration, and in Germany, fall festivals occur at the end of the harvest season. In Mt. Angel, Oktoberfest always begins the second Thursday after Labor Day, when the hop harvest is usually in. It is Oregon’s largest folk festival.

There will be live music, free kindergarten with rides and shows, Alpine food chalets, arts and craft show, traditional Biergarten, Weingarten, Prostgarten, and Alpinegarten, community Glockenspiel, Bavarian folk dances, and more. Ladies dirndls and lederhosen are also available for purchase.

Most events at Oktoberfest are free, with a nominal cover charge for entry into the Biergarten, Weingarten, Prostgarten, and Alpinegarten. An All Festival Pass is $25.00, and includes unlimited entry. A Day Pass is available for unlimited entry to entertainment venues, and is $4.00 until 5 pm, and $5.00 after 5 pm. Leashed pets are welcomed and seeing dogs are allowed within the venues. Oktoberfest is also handicap friendly.

Directions

From the north on I-5, take the Woodburn exit #271 and follow State Highway #214 to Mt. Angel (approximately ten miles).

From the south on I-5, take the Keizer-Chemawa exit #260B at Salem. Turn right (east) through the Hwy. 99 intersection. Continue east and follow signs to Mt. Angel (approximately 17 miles).

Memorial Day is traditionally the kick-off weekend of the camping season in Oregon.  Outdoor enthusiasts of all ages, excitedly fire up the RV’s and dust off the camping equipment, in search of the perfect spot to reconnect with nature after the rigors of a long winter. However, in their haste to grab a hold of this famous three-day weekend and squeeze every liberating second out of it, many lose sight of the true meaning the behind the holiday.

Originally known as “Decoration Day,” Memorial Day is commemoration of the lives lost by U.S. soldiers in the ongoing fight for our country ‘s freedom. First enacted to honor the lives of those who fought and died during the Civil War, Memorial Day has grown into the key day of remembrance for all Americans who have given the ultimate sacrifice for what we have today.

In this time of economic strife and worldwide political unrest, it is all too easy to forget the men and women who fought to make this three-day weekend possible. So as you are firing up the Coleman and getting ready to hook that salmon you’ve been dreaming about all winter, take a moment to reflect on all that our servicemen and women still endure to this day to ensure not only your lifestyle, but your freedom.

With that being said, did we mention that it’s camping season! Here are three of the most desirable camping spots around the Portland area.

Wyeth:  Columbia River Gorge National Scenic Area, seven miles east of Cascade Locks (exit 51).

A small forest camp in the Columbia River Gorge, Wyeth has easy access to Interstate 84 for further exploration of the gorge, its campsites are huge and the location is amazing. While exploring the area be sure to check out Multnomah Falls, one of the most picturesque attractions in the greater Portland Area.

Tollbridge: Hood River County Park, 20 miles south of Hood River.

This is a multi-purpose park, with good RV and tent camping, plus grassy areas for sports and picnicking. Tollbridge is on the East Fork of the Hood River, with good access to the Gorge and Mount Hood.

Barton: Clackamas County Park, 10 miles west toward Estacada from Interstate 205.

Barton is a full-service park on the Clackamas River.  With tent and RV loops, and large grassy play and picnic areas, Barton is a great family friendly camping option. Barton also features a busy boat launch for fishing and rafting.

Well there you have it. A lesson in civic appreciation and an itinerary for this summer’s camping destinations, all in the same blog.  So this Memorial Day, be safe, have fun, and remember what it is that you are really celebrating.

The Portland Saturday Market is in full swing! On Saturdays from 10 am-5 pm and on Sundays from 11 am- 4:30 pm you can make your way to Southwest Portland at North Waterfront Park and Ankeny Plaza for food, music, art and much more. Whether you are a family or a single looking to shop and mingle, the market offers a full day of fun, food, music and art. If the 38th season of the event follows the past 37, it won’t disappoint the growing number of supporters and visitors who have helped make it what it is today.

Each year the Saturday Market runs throughout Spring, Summer and Fall. This year the Market will end December 24th.