The Portland Real Estate market has had it’s share of ups and downs, but according to Inman News’ most recent article on Portland, our market is still mired in the downturn.
However, if you ask some local agents as Inman did, you get somewhat of a different story. While home prices may have slipped a little, we’re actually seeing an increase in unit production year over year for most of our agents.
We’re attributing this to the fact that our agents are more focused on their business and helping clients get exactly what they’re after. This, combined with interest rates that are literally at all time lows, is making what some agents would consider a great time to be in the Real Estate industry.
Demand is there and inventory is very very low which is causing a frenzy around new well priced real estate listings in Portland, Oregon. While this can be a little frustrating for buyers it creates an environment that drives appreciation. I feel very positive that this year we will see appreciation and an increase in unit sales to a level significantly above the previous three years in Inner SE and NE Portland.
The market continues to be very tight with a limited number of good houses available in most neighborhoods. This presents a great opportunity to homeowners who are considering selling and can take advantage of the high # of buyers out there and relatively low # of homes to compete with. If you or anybody you know are considering selling and think you see a good match on the list below please contact us today.
1. Abernathy or Llewellyn elementary districts only, $400-500k, open to different home styles, back yard a must, 3 bed 2 bath min. with garage.
2. First time buyer, wants to be inside of 50th, 2 bed 1 bath OK but would prefer 3/1, fenced back yard or ability to fence in back yard important, $250-350k
3. Anywhere close in SE, as long as it’s not Laurelhurst! buyers like older homes with original features and charm, but well updated kitchens and baths are ok. They would love to buy between 40th-45th, between Hawthorne and Division to stay in the same neighborhood. 3 Bedrooms, 1.1-2 Baths, a little yard, basement or garage. $350-$450k
1. Relocation, just moved to PDX, open to different neighborhoods, 3 bed. 2 bath min., likes Bungalows and Craftsman, up to $450k.
2. Bungalow within the Grant High School District. Fixer is ok, charm and original details are a must. Garage, basement and a yard are also a plus. $250-$350k.
3. Rose City, $350k and under, Fixers OK, must have 3 bedrooms on the same level whether up or down (want to be near children).
1. In-fill home, updated historic home or fixer in a great location, great school district with access to restaurants, shops etc., Duplex with large owners unit desired, 2800+ sq. ft. 4 bed, 3 bath minimum $650-850k
1. Duplex or Triplex, ideally in Corbett-Lair (Johns Landing) or Hillsdale, up to $500k, preferably has larger owners unit, historic details throughout a plus.
Portland area home prices lost 2.2 percent in value over the year that ended in February, mirroring a national trend that a California data researcher finds compelling. While local and national prices remain one-third below the 2007 peak, the modest declines of 2011 came against rising foreclosure rates. That signals the market could be stabilizing, Clear Capital, a Truckee, Calif.-based data research firm, said Tuesday.
Clear Capital found Portland area home values fell an average of 2.4 percent on a year-to-year comparison but were actually up a modest 0.2 percent compared to the prior quarter. According to the most recent data from the Regional Multiple Listings Service, the average sale price of a Portland home was $249,100 in January. Foreclosed homes being sold by banks, or Real Estate Owned (REO), represent 20.1 percent of the local market, according to Clear Capital. Portland area home prices remain 32.1 percent below the market peak set in May 2007. Nationally, home prices lost a little less than 2 percent in value on a year-to-year comparison, while quarterly losses were under 2 percent. Foreclosed homes represent 25.8 percent of the overall market. Clear Capital said real estate values improved in every region of the country even as foreclosed homes saturated the market, and that continuing strength in the face of rising foreclosure activity is an encouraging development.
“The good news is the improvements in the job market, stronger consumer confidence, and the heightened activity of investors — often with cash — in the lower price tiers. These effects put upward pressure on prices, and could be in play with the resiliency we’re seeing in prices against increasing REO this month,” said Alex Villacorta, director of research and analytics.
701 South Pacific – Newberg, Oregon – MLS# 12548822
Great one level home with a new roof, new windows and doors, new electrical panel, updated plumbing fixtures, updated kitchen and bathroom, new flooring throughout the whole house, one car garage, covered patio, fenced in yard with gate, RV parking, new water and sewer lines to be completed before close.
6975 North Villard – Portland, Oregon – MLS# 12270992
This fun, inviting Arbor Lodge Bungalow was built in 1926. It has a Chic, cohesive floor plan that is accented by natural light and it sits on a private corner lot. The yard is spacious and ready for your South facing urban garden, fire pit and patio furniture.
19625 NW Quail Hollow – Portland, Oregon – MLS# 12118071
This peaceful townhouse retreat is nestled in the trees, and has terrific living spaces inside & out. Enjoy warm beverages on the south facing front porch, barbecue on the back deck facing the yard, or relish a quiet moment on the upper level deck off of the master suite.
3905 NE Grand Ave – Portland, Oregon – MLS# 12337824
1995 Four Square in the Sabin neighborhood, features 4 bedrooms and 2 1/2 baths. The main level master suite has a walk in closet and backyard access. The kitchen is spacious with a large eating area. All new paint, trim, flooring in kitchen and baths. New carpet upstairs, new roof in 2009.
View is the one of the major factors that affects the resale value when buying homes. Buying homes with a pleasant view of a beach or the horizon often sell at a premium above similar homes without the view.
Though you may place a considerable dollar value on the view, future buyers may not be so like-minded. It may take you longer to find a buyer when it comes time to resell the house. Or you may end up dropping your price to more nearly match other sales prices in the neighborhood.
In short, if you are buying a house with a view, try to pay as little extra as possible. Otherwise, you might not get your money back.
Most real homes today are usually concentrated on the building itself but the lot is important too. Home with a good resale value should have lots that are as level as possible.
Assuming the property is in a typical neighborhood, the lot should be rectangular with no odd shaped lots or oddly situated lots.
Courtyard sizes are smaller in modern homes than in older homes, but there should still be a decently sized front and back yard.
Do not buy an over-landscaped property, either. You would normally pay a premium for that, which you may not be able to recover when you sell. You will get your best value if the house is moderately landscaped or under-landscaped for the area. Check this website out for more information on Portland homes.
You can always perk up the landscaping during your ownership by humanizing the grass and adding bushes and trees. Just do not waste too much.
In each residential neighborhood, houses will vary in size and rooms, but they should not be too different. If resale value is an important consideration, you should not buy the largest model in the neighborhood.
When determining market value, the homes nearest to yours are most important. If most of the nearby houses are smaller than your house, they can act as a drag on appreciation.
On the other hand, if you buy a small or medium house for the neighborhood, the larger homes can help pull up your value. This is one of those times where determining your “wants” versus your “needs” can be extremely important.
Buying what you need in a more prestigious neighborhood may provide more financial reward than getting what you want in a less desirable neighborhood and according to Inman News Portland fared better than most metro areas in this last “recession”.
Three and four bedroom houses are the most popular among homebuyers, so if you can stick in that range you will have more potential buyers when it comes time to resell.
There ought to always be at least two bathrooms in a house, preferably at least two and a half. One bathroom with a place to wash up for day-to-day visitors, one for the master bedroom, and at least one to be shared by the other bedrooms.
Walk-in closets are extremely desirable for the master bedroom. For the rest of the house, just be sure there is ample closet space. Don’t disregard space for linens and towels.
Garages add to the resale value and you should always make sure to get at least a two-car garage. Lately, three-car garages have become desirable in some areas of the country.
The laundry facilities should be located somewhere convenient on the main floor of the house, but not in a place it will create an eyesore. Think about whether you want to walk up and down stairs when carrying loads of laundry.
Family activity centers on the kitchen, so this is the most important room of the house. Larger kitchens are better, and they should be provided with modern appliances.
Obviously, the dining room and breakfast nook should be located adjacent to the kitchen. In newer houses, the family room should also be extremely close to the kitchen.
There should be easy access to the back yard, as there will be occasions for barbecues and outdoor entertaining.
In addition, it should be a short trek between the garage to the kitchen so hauling groceries in from the car does not become a horrendous chore.
Swimming pools do not provide as much added value as they once did. Safety issues about families with younger children have become more publicized than in the past, so families with small children tend to avoid homes with pools.
As a result, having a pool may actually reduce the number of potential homebuyers when you try to resell the home.
http://lakeoswegorealestatesearch.com – ever wanted to live on your own private island? There’s one for sale on Lake Oswego right now. Too much money? This site will help you find something in your price range.
http://sherwoodarearealestate.com – for our friends just South of Portland, this site offers the ability to search all the homes for sale in the Sherwood and Tualatin area.
http://jewelofthepearl.com – a pretty kick ass site if you’re looking for condos and lofts for sale in Portland’s Pearl District neighborhood.
Thought about the chance to travel some sort of magnificently invented minimal Portland modern homes for the special promote within the NW Hills area associated with Portland. This can be a extremely elusive alternative because this brand of present day home is actually personalized made (as this method can be) and most will not be viewed on re-sale from several, numerous ages.
Winding ?nternet site technique up the hill, a quick way from your NW 23rd purchases region, While i got offers end convert and also trasmitted had been first glimpse of the house. The house sits down seamlessly inside it is web site on the deep part of bedrock, the item appears to be like experienced carved as well as nestled strait into your hillside. The actual typical nice cedar plank siding suits the actual end flattened zinc top and flashing, along with becoming comfortable partnering into the grilling with charcoal perform of your tradition specially designed, curled clapboard siding.
Moving straight into the household with ground level reveals eye-catching admittance with glassed within flex place that will serve as real estate company, gallery open area or perhaps a open invitees receiving general vicinity. Your pine amenable blend set of stairs beckons people around the next carpet located quarters which provides higher ceilings, top quality halogen illumination, an entirely home flight refinement platform, glowing warm up, as well as lifestyle Henrybuilt conceived crafted ins with regards to each of the closet, storage area as well as drawers.
Looking method requisite airline regarding stairway unveils a lovely click normal space with high ceilings, some sort of twenty five shoe walls of windows and sliding glass entry doors which intensify the particular sun light entering your house and provides the household use of the breathtaking local as well as hill sights. The actual uncovered home passes for the dining place which satisfies the family unit home producing the space pleasant and also functional for each date living your life and interesting. The actual slippage a glass doorways bring about top veranda which comes with exterior lighting that may artistically remove darkness from the attractive porch but never disrupt the actual towns glow overnight.
The kitchen can be equipped with Gaggenau steam as well as convection stove in addition to a your five ripper cooktop, Thermadore fridge, Meile dishwasher, Durat counter tops as well as Vola features. The eating out open area is normally fitted with a new personalized Henrybuilt family table and bench to suit each of the made ins nicely Marcel Wanders prepared hanging lamp fixture.
The outside entrance off of the kitchen brings anyone to the actual terraced, hardscape invented out-of-doors using a built-in fire and a noticeably modified solid wood slat counter to sit down close up next to this. A little measures direction people around your second out-of-doors home which provides beautiful metropolis views as well, ideal for amusing.
The house seemed to be designed by Ralph Fruit, renowned Scott Edwards Architect known for his ranked newer models everywhere in Portland along with above. Each of the completes, cpa networks along with lighting effects ended up warily particular through user, inside website designer, as well as builder in line with the solutions celebration, sustainability, as well as for their particular smart, recent styles which possesses lead to an incredibly useful, stunning, decreased level of service household.
There are many Portland Luxury Homes that are similar in style but none of which have gotten the exposure that this Encino California mansion has over the last few years.
Listed first at $5.75 million, some lucky soul out there got the price down to $4.2 million for the seven-bedroom, eight-bath mansion. Perhaps the most distinguishing feature of the property is the pebbled motor court out front where Turtle and his fleet of company cars opened the second-to-last season in the summer of 2010. Or maybe it’s the pool Vinny almost drowns in. Additional features include a theater, seven fireplaces, two-story ceilings in many rooms, and the ability to claim your place as the ultimate bachelor pad.
Standing on the large, covered Craftsman-style front porch of the model at Arbor Oaks in the Bethany neighborhood, with a view of the close-by protected wetlands, it’s easy to picture yourself lounging with a cup of coffee and the Sunday paper on a sunny, summer morning.
The gracious, wood-frame porch, which runs the full width of the front of the home, is an example of the expanded living spaces created in the new plans being offered by Arbor Custom Homes. With a large two-car garage set below, the builder is able to deliver more square footage on a smaller footprint.
“People still want square footage,” said Jennifer Walsh, broker and community manager at Arbor Oaks. “By putting the garage underneath, you can have your larger, open great room concepts and also that awesome front porch that’s covered. “It has that charming, Craftsman look, which is really inviting.”
Inside the Sablewood model, the main floor is a well-connected series of smart and open spaces. Wide-plank hardwoods cover the entry and dining room. A big, granite-topped island anchors the great room, brightened by a wall of windows to the rear. A convenient butler’s pantry connects the gourmet kitchen to the dining room.
Second-level bedrooms are large and serviced by a full bath with dual sinks, a laundry room and a big linen closet.
Random Bethany Neighborhood Video:
The master suite features a box-beam ceiling with crown molding and a bath with soaking tub, separate shower, water closet and a walk-in wardrobe.
Steps to a third level reveal a surprise — a flexible rumpus room with a skylight. It’s another unexpected space afforded by building up instead of out.
“We have buyers who say, ‘I want a big garage. I want a big family room,’ ” Walsh said. “Now you have that, and storage all over the place.”
The 2,937-square-foot Sablewood has three bedrooms, three baths and a convertible den and attic room. It’s priced at $439,900.
Located just off Northwest Springville Road in Washington County, Arbor Oaks is a large master-planned community of 230 homes that will grow to more than 500 homes when completed over the next several years. It features a community pool and boasts an adjacent elementary school — Springville K-8 — rated “outstanding” by the Oregon Department of Education.
The project is also close to Portland Community College’s Rock Creek campus, Westview High School and a 32-acre Tualatin Hills Parks & Recreation complex.
Natural light illuminates architectural extras in the great room, including art niches, built-in bookshelves and detailed woodwork on the fireplace and stairway newel post.
Arbor Oaks just opened 55 new lots on the west side of the property, where the rolling, hilly topography is perfect for a few new daylight basement plans that Arbor Custom Homes now is offering.
“We had a lot of anticipation with this new phase that just opened,” Walsh said. “The confidence is starting to come out. Buyers are loving being right by the school, and they’re loving North Bethany and the fact that there’s more to come.”
The community offers a variety of home styles, from 1,707-square-foot courtyard terraces starting at $289,900 to manor-style homes ranging to nearly 4,000 square feet and priced from $624,900. Base prices for the daylight basement plans featuring four bedrooms and four baths range from $439,900 to $550,900.
Some of the smaller units include front and back landscaping, perfect for a lock-and-leave lifestyle.
“We have a variety of styles and a variety of price points, which makes for a really nice mix,” Walsh said. “We can find something to fit almost anyone. It’s nice to have options.”
All of the homes at Arbor Oaks are built with energy efficiency in mind, and Arbor Custom Homes’ “Arbor Green” program is designed to promote the overall long-term physical, environmental and financial health of its buyers.
“We’re really implementing healthier living and more durable, efficient products,” Walsh said.
Sign up for “Auction Alert” and tell me places as well as budget range you’re starting the house lookup within in addition to I’ll return a person the actual report on High street bank Owned or operated Dwellings in that , aspect. Portland may be loaded by using repossessed home owners and therefore are giving you initial time house customers much better deals compared with I have really observed in the actual employment. In this real estate debacle I have identified pretty much every native within Portland provides Bank or investment company Held Homes for sale. This implies immediate fairness concerning comparatively much the same dwellings. It is not only junker property. I am also shopping for different making homeowners as well as condos that are mortgage lender possessed.
Just how numerous troubled sheds is there around Inborn SE Portland? Since today… 218 away from 847 homes for sale usually are banking had and / or short sales (property foreclosures). A superb spot for a study your stats on this element will be: www.PortlandMaps.com. This site explains anything from transgression to help makes way. The vendor gives the actual buyer’s compound hence there is no fee designed for rendering. Quite a few Real estate agents specialize in Inborn SE therefore employment interview several and discover anyone to symbolize an individual.
My personal couldn’t truly know this is my eye-sight right now after i away the little study in Inside Northeast Portland. I ran across 796 homes for sale! fifty-five of which ended up creditor run and also 93 are actually short sales (property foreclosures).
This is how Public auction Notification functions: An individual sign up. Tell me places as well as budget range you are looking inside and also throughout of a daytime you begin obtaining real estate around stress directed right to the email’s. It’s quick as well as cost-free. I truly believe that your Portland Real estate market can be having a tiny amount of lengthy bouncing back again as compared to many might feel. Which means this is a good time and energy to get. Begin with the actual property foreclosures, short sales, mortgage lender had thereafter reseller homes for sale.