Portland Homes For Sale: April 2018 Report
Oregon's spring, 2018 weather is warming up buyer activity on Portland homes for sale, with homes selling in an average of 55 days compared to 58 days for the same period in 2017. Property values are still going up, albeit gains have been much more conservative than in recent years. Homes for sale are averaging a 7.6% higher closing price than last year while the median closing price edged up 8.8% when the most recent 12 months are contrasted against the preceding 12 month period. Homes for sale around the Portland metro area have all increased in value, but a few areas stand out with the most notable gains. Mt Hood posted a whopping 14.1% improvement in average closing price closely followed by Gresham/Troutdale at 12.0%. In general, more affordable…
Fall 2017: Portland Real Estate Market
[caption id="attachment_8314" align="alignleft" width="300"] Median List Price of Portland Homes For Sale[/caption] Summer is over and Fall is here with plenty of cold, rainy wind... and of course, the ubiquitous comparatively sluggish real estate market. I say "comparatively sluggish" because housing in our city is still selling quickly and inventory remains very low by the measures of conventional wisdom. Nonetheless, average days on market for residential homes for sale is increasing while market action is waning. Current median asking price for properties in Portland is $518,000 and the average list price is $635,476. Following the waning market action, prices have been settling down a bit from their all time high in the spring/summer but even still, ever since the Great Recession, Portland's real estate market is continually defined by (lack…
Top 10 Most Expensive Neighborhoods in Portland
[richardnet_area_page query='portland' title='Most Expensive Homes in Portland, Oregon' report='Portland' pricemin='999999' pricemax='99999999' numresults='48' /] Today we're looking at the Top 10 most expensive areas in the Portland real estate market by zip code. The neighborhoods and communities in each of these zip codes all feature luxury homes, properties with views and all of the high end amenities today's most well-qualified home buyers expect. Perhaps you're in the market for a fine custom home, or maybe you're just window-shopping to pass the time. Either way, happy house-hunting from Exclusive Portland Real Estate. The list is sorted by zip code and listed in order by median asking price (low to high). Note that this list is for Portland Neighborhoods and doesn't include ultra-luxury Dunthorpe, Oregon because that area is unincorporated outside of Portland's…
New Tenant Laws Take Aim at Landlords
[accordion] [accordion-item title="Will Rent Control Save Portland From Another Housing Bubble?"] As a real estate agent in Portland, my answer is that I just don't know exactly. Rent control will almost certainly become a reality in Portland, if Oregon House Bill 2004 is passed (the legislation is now in the state senate). In addition to making landlords give tenants of over six months a full 90 day eviction notice, House Bill 2004 would also lift the state ban on rent control. One could make a compelling argument either way. Those opposing rent control may point out that areas which used to be high crime areas with rundown buildings are now getting fixed-up and becoming much safer and cleaner places for people and their families to live in. In that sense,…
Portland Laws Get Tough on AirBnB Hosts
Disclaimer: author is not an attorney and the following is an editorial opinion article and should not be construed as legal or property management advice. Portland Puts The Squeeze on AirBnB Hosts Portland lawmakers say that these new rules will help free up rentals to long-term residents by taking them off of the vacation-rental market. While there certainly are some property owners who have turned normal single family dwellings into de facto hotels taking away from normal rental opportunities, these situations appear to be less common. Many feel that AirBnB is simply an efficient and reasonable way for people to get some much-needed extra money to help offset the high cost of living in our city. According to Willamette Week, hosts renting out spaces without a permit would face fines…
QUIZ: What’s Your Portland Home???
Take our fun, interactive real estate quiz to help kickoff your Portland, Oregon home search. Okay well, maybe you don't want to make such an important life decision based on a silly quiz but we hope you at least get a chuckle about the interesting questions. As we Realtors always say, if the questions aren't questionable, then they're probably not very entertaining. All jokes aside, if you need help finding a home and appreciate experienced Portland real estate agents with dry senses of humor then call us to start looking for a home that actually fits with your lifestyle. [os-widget path="/richardlockwood/what-s-your-portland-home" of="richardlockwood" comments="false"] [expand title="Answers to the quiz inside:" tag="p"] Redneck Paradise The Swanky Condo: The 0bed/1ba Location, location, location! Would you like to live in the coolest, swankiest, hippest…
Portland Realtors: Spring 2017 Housing Report
Portland Real Estate: Spring 2017 The Portland Metro Association of Realtors has just released its housing market action report for the previous month (February, 2017) and the news is somewhere between lackluster and mixed. While accepted offers were notably higher than in January, the levels of newly pending sales are 15% behind where we were last year. On the other side of the equation, new listings coming into the housing market this year were 12.9% below the number of new listings in February, 2016. Fewer listings and fewer sales is the theme for winter and spring for Portland in 2017 thus far. Closing transactions also dropped by 9.6% month to month and 7.9% when compared to closings in the same month a year prior. It's important to note that last…
Portland’s Futile War Against Uber
Portland’s Mayor recently sounded off about Uber’s use of clever software to outfox regulators during the city’s pointless battle against ridesharing. Government officials are investigating Uber’s ethics in using a regulator-detection-algorithm known as “Greyball”. Greyball was used to avoid agents out to write up fines against Uber drivers operating in Portland when the service was banned. However, for myself as an average citizen, I am questioning the city’s ethics in keeping a popular and beneficial service away from people that need it. While lofty ideals about safety and ethics are bandied about during the Greyball investigation I find myself thinking that it’s really just about the money. For me, it feels like local government was forcing citizens to live in the past using antiquated technology because it fit better into…
Best Realtor in Portland, Oregon
[caption id="attachment_8131" align="aligncenter" width="599"] Best Real Estate Agent in Portland, Oregon[/caption] Question: Who is "The Best" Realtor in Portland, Oregon? Defining "The Best" depends on what criteria is used. Portland real estate agents with top sales numbers may get the job done, but if they're too busy then chances are you may only really get the full attention of an assistant. A better question may be: "who's the best Realtor for you?" When interviewing a Realtor look for experience, strong ethics, brokerage reputation and how well they understand your needs. Also, make sure the real estate agent has time for you. Listing Agent vs Buyer Agent, or both? A specialist "buyer's agent" has the advantage of being tuned-in on exactly what buyers are looking for. On the other hand, a…