News

An Open Letter: Oregon Foreclosure Avoidance Program

Oregon Foreclosures, Short Sales
I've heard from clients over the years that they had gone to the Oregon Foreclosure Avoidance Program in search of more information about short sales and what options home owners in Portland, Oregon have available. As part of the mediation process, State of Oregon mediators often refer home owners to real estate agents, some of whom may have little short sale experience. This last week, a client called in and set up a short sale listing appointment with myself after being referred to Realtors in Portland who had only done a very small handful of short sales and to me this seemed unfair to the home owner. With this in mind, I have written the following open letter to the Oregon Department of Justice asking to be one of their…
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Portland Realtors: Short Sale Specialist’s Summer 2016 Report

Real Estate
For the summer of 2016 the Portland real estate market has been defined by extremely low inventory of available homes for sale and stiff competition among buyers eager to find a place to live. However, record home values have not completely wiped away the relevance of Portland short sale specialists in that underlying financial difficulties such as slow wage growth, underemployment and rising living expenses puts many household budgets under duress. Furthermore, higher real estate prices often entail higher monthly mortgage premiums which add increased pressure of possible mortgage default during times of financial strain. During the height of the recession, short sales were commonplace to the point of being ubiquitous and it's important to note that increased home values has moved many mortgage defaults out of short sale into…
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Summer Housing Report: Happy Valley, Clackamas, Damascus

Real Estate
Local Realtors Serving Happy Valley, Damascus & Clackamas *Click the expanding tabs below to explore your market details In sharp contrast to Portland's recent bout of cool, temperate weather, local home values throughout the Portland metro area are continuing their meteoric rise. Today we focus specifically on real estate in a few surrounding areas of East County. Home Values Soar Around Portland, OR Oregon's seasonal housing market fluctuations notwithstanding, other factors such as new transplants to the area as well as improvements in the local economy both likely play a role in Portland's robust home price increases. The significant dearth of local rental opportunities may also be fanning the flames of increased home prices in that exorbitant monthly rent or simply being unable to find a suitable rental at all…
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January, 2016: Portland Housing, Economic Update

economy
From the Article: ...will bad news from Wall Street and Asia rain on Portland's parade or will the distant rolls of thunder merely echo nay-sayers beating the drum of chimerical doom & gloom? Despite recent upsets and a dismal start to the trading year on Wall Street, home-buyers in Portland, Oregon remain extremely bullish on the local real estate market. International issues such as China's burgeoning debt crisis along with foreign trading markets being flooded with newly available petroleum energy have led to record stock-market volatility; with many sources noting that the new 2016 fiscal year is the worst on record for many stock exchanges worldwide. In contrast, factors such as local job growth and strong demand for Portland's unique "Northwest" lifestyle mean that homes throughout the metro area are…
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Testimonial: Jumbo Loan Short Sale In Portland, OR

Portland Testimonials
At times, home owners with jumbo loans may have debts well into seven figures on real estate they own in the Portland Metro area and we can help those clients with short sales too. Below is an excerpt from a letter we received from a client who we helped with a jumbo loan short sale that also involved a 2nd lien that was a cash-out home equity line of credit. Equity lines, seven figure debts and luxury homes all present unique challenges but our experience and success with these transactions means you'll be in good hands. Call us today to learn more about what to expect from your bank and how we can help you: 503-473-8001. ...My situation involved selling a high end home to avoid pending foreclosure. I had…
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Fall Housing Report

Real Estate
Numbers for pending and sold homes throughout the Portland metro area are cooling off with the return of the school year and the end of the (traditionally busy) summer real estate buying season. The seasonal fluctuation of the local Oregon housing market is normal and may be influenced by such factors as family's school year, increased vacation time in the summer in addition to buyers being more apt to shop for homes during summer's longer and warmer days/evenings. The biggest story in real estate for this season seems to be consistently low inventory of available homes for sale in Portland, Oregon. The year-on-year graph to the left clearly shows 2015 in red with September, 2015 showing only 5,657 active listings compared to 7,438 available properties for the same month a…
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Portland Homes: Quartile Data

Real Estate
Portland, Oregon: Housing Quartile Data In Review Real estate quartiles are a method of data review that takes all of the residential properties in a given area and divides them into groups organized by price percentile. As an example, if there were 100 real estate listings each quartile would have 25 properties each and represent 25% of the properties in an area. Quartiles are arranged by price so that the 25% of properties with the most expensive prices would make up the top quartile, the upper/second quartile is made up of properties in the 51-75 percentile group and so on. This quartile data gives a worthwhile window into the landscape of a housing market that offers more background than looking at gross sales or average prices in all quartiles together.…
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Portland Housing Sustainability: Summer 2015

Portland Housing Sustainability: Summer 2015

Real Estate
[caption id="attachment_7379" align="alignright" width="200"] Conditions in the Portland Housing Market: Summer 2015[/caption] As of July 31th, 2015 the median list price for residential real estate in Portland, Oregon is $449,350 and showing a strong upward trend. In contrast, the average asking price is $589,851. There are 1181 property listings currently listed with 91 days being the average number of days on market. But, will this strong seller's market last? Or, as we eclipse the highs of the previous housing bubble, will the housing market be preparing for a pause, settling or new downturn? Current indicators show that this is a strong "seller's market" and market action is holding steady and inventory of available listings is also steeply increasing. These upward trends reflect the increased competition amongst well-qualified buyers trying to…
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Short Sales in 2015

Real Estate, Short Sales
How Short Sales Have Changed in the Year 2015 Increases in home values in the Portland area, defaulted properties going to foreclosure and home owners completing short sales are all contributing to a reduced amount of short sale inventory. However, high demand from well-qualified home buyers and a pronounced dearth of available homes for sale in Portland mean that short sales remain a viable option for sellers with negative equity as well as cost-conscious consumers looking for a good deal on real estate in Portland, Oregon and surrounding communities. Further slowing down housing inventory turnover are home owners who are upside down that may be holding out on selling in the hope that prices will increase further and allow them to sell at a higher price that would leave them…
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Oregon City, Milwaukie Housing Update 10-04/2014

Portland Home Values
Home values in Oregon City and Milwaukie seem to have plateaued in recent weeks with, buyer activity slowly tapering off as we move from the busy summer real estate season into the cooling off period typical of autumn. For these Portland suburbs, average days on market has been trending upwards dramatically while at the same time the inventory of available residential listings in Oregon City have been sharply declining, while available listings in Milwaukie have only been mildly declining. At first, it seems like reduced inventory would stimulate the market and the truth is it may be, but only to an extent. However, if the supply of available homes for sale is declining somewhat and demand is dropping more dramatically then the balance may begin to shift in favor of…
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