Real Estate Information Archive

This is an interesting article as I'm living it!  Let me digress.... When I started selling real estate in Portland nearly 31 years ago, I mostly sold to my sphere, so other young families with kids.  Now fast forward those 31 years and most of those clients are either downsizing, or their parents are moving into independent/assisted living, or passing.  As a result a large part of my business is selling homes for seniors, and helping 55+ buyers find homes with a master on the main floor.  My wife Beverly and I did just this three years ago.  

Check out the article, remembering its from the National Association of Home Builders so talks about new homes.   Let me know your thoughts or if you know anyone looking to downsize.  http://nahbnow.com/2019/10/55-housing-market-ticks-back-up-to-record-high/

I saw a great article recently on The Motley Fool website about how rental properties are taxed.   My wife and I have invested in rental homes for many years, some we do out of our personal accounts and some out of our retirement accounts.  There are some huge tax advantages to doing either and I am always happy to discuss, but many people ask me "what can I write off on a rental".  This article covers this well.   The key is even if you think you arent making money on a rental, after taxes and depreciation you are (and thats not counting appreciation).

Many of my clients have built much personal wealth owning rentals, so check out this article about the tax advantages of such. https://www.fool.com/millionacres/taxes/real-estate-101-how-rental-properties-are-taxed/

The latest stats came out from the Portland area MLS for the month ending October 31st, 2019 and here they are.  Pending and closed sales saw some gains in October when compared to 2018 with pending sales up 3.7%, but down 4.1% when compared to September of this year.  For closed sales (keeping in mind the average closing time is about 40ish days) rose 6.7% over last year AND rose 8.9% over September of this year with 2,377 closed sales registered for the Portland metro area (not including Washington State). 

As for new listings at 3,064 they decreased 1.2% from October of last year and decreased 11.7% compared to September.  This results in an inventory slight decline to 2.4 months supply for October.

Year to date, activity is still a bit cooler in 2019 when compared to last year. Pending sales are up 0.4%, new listings are down 1.4% and closed sales at 25,085 so far this year are down 1.8%.  When comparing 2019 with 2018 through October, the average sales price has increased 1.2% from $453,600 to a new high of $459,000.

You can view the entire seven page report courtesy RMLS by clicking here.

Our featured home this month is one of the best buys I have seen in a very long time. Its a huge home on 4.2 Acres overlooking the Sandy River and is recently updated.  This home is over 6,100 square feet on two levels, has three bedrooms, high cielings, an in-ground pool, a huge mostly finished basement and so much more.   You can view teh home here  https://www.roblevy.com/Property/28201-SE-SWEETBRIAR-RD-Troutdale-Oregon

Here it is again, the Portland Business Journal's hottest neighborhoods for 2018.  This also includes the Vancouver, Washington area and it's local communities.  

There are some predictable results here, and some surprises.  Take a look and let me know what you think.

You can read the entire article online by CLICKING HERE.

The Portland area real estate market sure changed in January of this year!  New listings were more than double those in December, 2018 and up 22.6% over January of 2018.  As of January 31st there were 3,048 new listings.  Also Pending sales surged 27.9% ahead of December, with 2,311 offers accepted by sellers.  For Closed Sales, there were only 1,451 which was down 21.4% over December and 10.9% over January of last year. Inventory rose in January to 3.3 months with a total marketing time of 76 days. 

The average sales price in Portland Metro (tri county area and not Washington) is now $452,200 which represents an increase in price of 5.2%.  So the aveage homeowner gained almost $10,000 in eqiuty last year!  You can download the entire 7 page report (courtesy RMLS) by CLICKING HERE.

Our featured home of the month this month is a Grant Park area bungalow with a full finished attic and a full unfinished basement. The main level has gleaming hardwoods, a newere granite island kitchen and muhc more.  The walk score is 89 and bike score of 93 which represent its stellar location close in NE Portland.  You can see the home by CLICKING HERE

Caity, Munir and I look forward to helping you with your real estate needs, please call or email us with any referrals you may have.  We have been one of Portland's leading Real estate teams since 1988 now and would love to help.

The June 2018 numbers are out for housing in the Portland Metro area and as expected they are down a little from May.  Typically our sales drop in the summer a little bit, so its a GREAT time to buy a home as buyers are (a little) more in the drivers seat.  

Closed sales in the meantime were up over May, which is a reflection on our busy April and May with 2,946 closed sales vs. 2,803 in May.  However, this was the slowest June closings month since 2014.  New listings still arent filling the pot enough though, only 4,515 in June which is 3.2% fewer than May.  We need inventory for sellers to sell their homes which many are resistant to do as there isnt much to choose from for them to buy.  For the year so far though new listings are up 2.7% at 22,079 homes listed for sale in 2018 through end of June.

Average and median prices are still rising, ableit not at such a high clip which is healthy.  Comparing the first half of 2018 with the same period in 2017 our average price is up 6.2% to $453,400.  The median is also up 6.7% to $400,000 even.

The time on market as of the end of June is 2.1 months.  That's a bit higher than the 1.6, 1.8 and 1.9 months for the previous few months, but still well into a "sellers" market.  The balance point is always considered to be 5.5 months of inventory.

You can view the entire report (Courtesy RMLS) by clicking here.

The World Indoor Track and Field Championships are coming to Portland's Oregon Convention Center in March of 2016. The event, which is expected to draw more than 600 athletes and more than 8,000 spectators, is sponsored by Nike and the International Association of Athletics Federations. The three-day meet typically features athletes from more than 200 countries, from Austria to Zambia. The event is also expected to draw a worldwide television audience of more than 1.3 million viewers. This will be just the second time the event has been held in the United States. The first World Track Championships were held in Indianapolis in 1987.

About the World Track Championships

Begun in 1987, the World Indoor Track and Field Championships are held every two years and feature 13 events for male athletes and 13 events for female athletes. Similar to the Olympic Games, the first, second and third-place finishers are awarded medals. 

The 2016 event will include more than contests over three days, such as a fan festivals, concerts and other off-track events.

About the Oregon Convention Center

Opened in 1990, the Oregon Convention Center is located along the Willamette River in the heart of Portland. A new 200 meter IAAF-certified track is being built at the center, which will be used for 13 events.

Oregon, the corporate headquarters for Nike, is already the training home for many of the world's best track and field athletes. Organizers are excited to be hosting the event in 2016, just a few months before the 2016 Summer Olympics in Rio de Janiero, Brazil.

Now that Santa is back at his chalet in the North Pole, it's time to decide how you are going to ring in the New Year. There are so many New Year’s Eve events happening here in Portland, Oregon that you’re sure to have a good time!

Below is a list of some of the festivities available. You can check out more at PDX Pipeline.

• New Year’s Eve Celebration Inspire Truth @ Portland Art Museum | Dancing, Drinks, 2 Stages, 2 Lounges, Art
• New Year’s Eve Governor’s Ball w/ Patrick Lamb | Jake’s Catering, Michael Jackson’s Former Guitarist Jennifer Batten, Jeff Beck
• Black Tie Affair Boat Cruise on the Portland Spirit | Reggae, Dance Hall, Soca, Top 40 & R&B!
• Portland New Year's Eve 2013 @ Holocene | w/ Leif, Shy Girls, Phone Call, Pwrhause & More
• Neon New Year's Eve w/ RiFF RAFF & Lil Debbie @ Odyssey Event Space | Newly Remodeled Venue, No Dress Code, 18+
• New Year's Eve Party @ Red Star Tavern | A Noble New Year’s Eve Experiment, Dinner, Johnny Martin in the Speakeasy Lounge
• New Year’s Eve Murder Mystery Dinner Show @ Oregon Garden Orchid Ballroom | 4-course Dinner, Live Music by the Flextones, After Party w/ Champagne Toast
• #NYEpearl: Portland Pearl New Year's Eve @ Gerding Theater Armory | 2 Dance Floors, 5 Bars, Live Video Stream, Local Celebrity DJs
• New Year’s Eve with Nick Thune + Hart Keene @ Helium Comedy Club | Comedy, Magic, Music, Open Bar
• New Year’s Eve Bar Crawl w/ Portland Short Bus | 6 Bars, Home Drop Off, Champagne Toast
• New Year’s Eve Party @ Grand Central | Las Vegas Style Gambling, Champagne Toast, DJ Oso Fresh, Live 99.5
• January 1st - New Year’s Day Brunch @ Swift Lounge | Hip Hop + Cartoons All Day

Have a great New Year's and be sure to play it safe when considering driving!

Thanksgiving is just about here and with that comes some fun traditions here in Portland, Oregon!

After you have enjoyed Thanksgiving Dinner with family and friends, the Holiday Season kicks off the morning of Friday, November 29th with the annual Macy's Holiday Parade in downtown Portland. Kids and parents alike will enjoy the festive parade floats, marching bands and gigantic inflatables! This free holiday celebration will get started at 9:00 AM and last approximately an hour, giving your little ones just enough excitement for the morning. The parade will begin at the downtown Macy's, located at 621 SW 5th Avenue, and will wrap its way through the streets of downtown Portland. You can take a look at the parade route on Macy's website.

Later that evening, head out to Pioneer Square for the classic Tree Lighting Ceremony. The 75-foot Douglas fir tree was already erected on November 15th, but it remains to be decorated with lights and ornaments! The free celebration is set to start at 5:30 PM, but event goers are encouraged to show up early to get the best spot. There will be a visit from Santa for the kids, a marching band, carolers and a sing-along led by several special guests, including Pink Martini's Thomas Lauderdale, the 234th Army band and the Pacific Youth Choir.

This will be an exciting way to start the Holiday Season! Have a great Thanksgiving!