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Displaying blog entries 11-20 of 28

Gym Time in Portland

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

Submitted by Cathy Hill

If you're a gym person, and you're fortunate enough to spend a few days in Portland while looking for a home, it's a good idea to check out your local fitness clubs.  Depending upon where you choose to live, pop into the gym at the time you would normally have a workout, and see what the crowd is like.  I'm a morning person, so I find plenty of available cardio machines, and free access to strength training options, as long as I'm there by 5:30AM.  The afternoons tend to be incredibly busy in my gym, except for on the weekends. No wonder Portland was named one of the "Top Fittest Cities in the United States" by Men's Fitness in February this year.  

Portland and its suburbs offer all of the standard choices; 24 Hour Fitness, Bally's, and LA Fitness.  In addition, there are several clubs that aren't as well known, but provide great options if you're nearby.  Try Club Sport or Riverplace Athletic Club.   Granted, we all choose to be outdoors as much as possible, but sometimes in the winter the gym beats a 35 degree rainy morning! 

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Farmer's Markets!

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

Submitted by Sandy Morely

Portland is great for many things - especially the assortment of Farmer's Markets!  Please click on the image below for a clear view of our monthly postcard.  We sent this mailer to our clients for the month of May listing the local farmer's markets! 

 

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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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    Puppies and Real Estate?!

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

    Submitted by Kate Baldus

    Yesterday couldn't have been any better!  One of the agents in our Prudential Northwest Properties West Portland branch brought in five very special friends yesterday: Miniature Shnauzers.  Our whole team had to take a quick break and jump on the opportunity to hold these four week old puppies.  They were absolutely adorable and brightened everyone's day.  Rob - our spirited team leader - had a Schnauzer named Steffi (after Steffi Graf) for eleven years.  These pictures were taken in our office while we each had a chance to hold the puppies.  Four sisters and one brother (Dillon - my favorite!)  I might just have to take one of these home with me - then I can go exploring in the Portland Dog Parks.

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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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    Working With a Live Agent is the Best Way to Buy and Sell Your Home!

    Tuesday, May 15, 2007
    by Rob Levy, Prudential Northwest Properties
    Submitted by Shawn Headlee
    I was watching 60 Minutes last night and they had a segment about a company that did nothing but web based real estate transactions. Being in the business for 13 years and working with agents on a daily basis, I came to the conclusion that it was an unfair portrayal of the real estate industry and the agents that make it work. I have been getting more and more frustrated with shows like 60 minutes that used to be fair and balanced and now seem to spin their segments for their best interests. The air time for the online company compared to the real estate agent was two to one.  The National Association of Realtors has expressed disappointment with CBS for airing such a one-sided story on real estate.
     
    I know first hand how hard the real estate agents that I work with work on a daily basis. The Rob Levy Team is at the top of the list when it comes to working hard for buyer or seller.  Sometimes they spend over a year showing homes to a potential buyer who may or may not ever choose to buy a home.  I also see very happy clients that could have never sold and purchased without their help. I remember when the online mortgage companies hit the seen and the news stated that I would be out of work in a year, well I am busier than ever. I think the same will hold true to this situation.
     
    Have a great week!!
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    Happy 100 Years Rose Festival!

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

    Submitted by Sandra Hanis

    The city's first Rose Festival Parade happened in 1907 following the success of the Lewis and Clark Exposition of 1905. It was decided in 1907 that the city should have a month long Festival of Roses.

    For those who have never gone to a Rose Festival Parade, one of the top 5 parades in the nation says USA Today, this could be the perfect year to start your tradition. When I decided to go, I didn't camp out overnight or elaborately tie off my spot on the parade route. I hopped on the light rail moments before the parade was to start….grabbed a cup of coffee on my way and enjoyed the infectious enthusiasm of the crowd. You really do feel like a kid again at a parade!

    Why not invite a new Portland resident to go with you! You can check out the Rose Festival calendar on-line for the June long festivities

     and enjoy visiting in the land of Rosaria for the month of June!
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    Appreciation is smart work:You have to love it, Portland Oregon market is a proven winner, again!

    Wednesday, May 9, 2007
    by Rob Levy, Prudential Northwest Properties
    Submitted by Bruce Hecht

    Whenever we invest our money we want it to grow for us.  Living in Portland Oregon and investing in real estate has always been a smart move.  I was talking with one of my neighbors last night at a neighborhood Summertime BBQ.  He asked me what I thought about the real estate market and the fact that is suppose to go down?  I said, what do you mean?  He said that we are only suppose to be seeing 5-12% growth in real estate in Portland Oregon in 2007.  I asked him why he thinks that is "going down"?  He said, "well, last year homes were going up 10-18%!  I said, yes, you are correct.  But if your home goes up 10%, instead of 18%, how can you think or say, that the market is going down!? He agreed, appreciation is... appreciation.
     
    Many economists and real estate experts link the buying habits of "baby boomers" and investors, to the demand for homes in this country. They argue that the population will stabilize or decline as these potential buyers age and their children are grown.

    What is left out of such a picture is that the emerging real estate market is made up of people who are immigrating to this country. It is also made up withinvestors wanting to try to establish and build their portfolios. When these newcomers have achieved a stable income, they look for the best living situation they can find, often preferring buying to renting.

    Real estate continues to be an attractive investment opportunity. If you are sitting out the current market because you are afraid that the appreciation won't continue, you may want to re-think your decision. Today's market is providing opportunities for homeowners and smart investors from all over the globe.  Buy now and reap the benefits of appreciation .
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    Lead Based Paint in Homes Before 1978

    Tuesday, May 8, 2007
    by Rob Levy, Prudential Northwest Properties

    Submitted by Sandra Hanis

    Buyers agents are often confronted with the issue of lead based paint in homes built before 1978. We find that buyers in the Northwest are typically not overly concerned with the issue and most people who are looking at older homes are aware that it will be an issue in their purchase. I have had buyers do their own testing ( not always effective) or you can employ many accredited lead based paint inspectors. This inspection is not usually part of the standard home inspection. An excellent source of information is available at our links at www.roblevy.com.

     

    This source tell us that 2/3 of homes built before 1940 and 1/2 of the homes built from 1940-1960 probably contain lead paint on the interior or exterior. Some homes built after 1960 also contain lead paint. In 1978 the product safety commission mandated only a trace amount to be acceptable in paint manufacture. If there will be infants or pregnant women in the home, it is a good idea to have it tested before removing or disturbing the paint surface. It is often thought that painting over the surface will contain the paint and that is not true. The old paint can loosen and release lead dust. The most important thing is to be aware that it can be a hazard though something that can be dealt with in an effective way with little knowledge and care.
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    Displaying blog entries 11-20 of 28

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