<?xml version="1.0" encoding="UTF-8" ?>
<rss version="2.0" xmlns:atom="http://www.w3.org/2005/Atom">
    <channel>
        <atom:link href="http://www.portlandrealestatecafe.com/blog/rss/" rel="self" type="application/rss+xml" />
        <title>Portland Real Estate Cafe Blog</title>
        <link>http://www.portlandrealestatecafe.com/blog/</link>
        <description>Keep up with the Portland real estate market!  Portland Real Estate Cafe blog provides valuable discussion for today's changing market.</description>
        <item>
            <guid>http://www.portlandrealestatecafe.com/blog/a-perspective-on-the-current-sellers-market.html</guid>
            <link>http://www.portlandrealestatecafe.com/blog/a-perspective-on-the-current-sellers-market.html</link>
            <author>rwbroad@gmail.com (Bob Broad)</author>
            <title>A Perspective on the Current Seller's Market</title>
            <description> <![CDATA[ 
The defining characteristic of our real estate market this winter has been the lack of inventory.  As we enter the peak Spring home-selling season, I thought you might want to get some bigger picture perspective on our market.  This is a great time to be active in our real estate market.  It's our job to help you appreciate the opportunities, then develop and execute plans to capitalize on these opportunities.


Nationally, sales volume is up 9.2%.  In Portland,  our sales volume is up 18% for the 12-month period ending March 1, 2013. Prices are up 6% over the same period, so closed dollar sales in Portland has increased by 25% over these same twelve months.





Nationally, volume increases built over the course of 2012.  Locally here in Portland, our peak volume increases happened August through November when volume was up 34% over the same period in 2011.  Since then, increases are back into single-digit improvements over the previous year.





Historically, home prices have consistently appreciated at a rate of 4% per year.  Despite the recent recovery and shift to a Seller's market, we entered 2013 almost 24% below this historical trend-line.  We believe this is compelling evidence that this is a good time to be active in real estate, and that there is a significant prolonged up-side in this recovery. 





Mortgage rates, as we all know, are at once-in-a-lifetime levels.





Making homes today more affordable than ever.





Compare current housing-related costs to the historical norms.





The best values in our marketplace mirror the national marketplace: trade up, perhaps into the luxury market if you can, to take advantage of the best values.





For some perspective:


Right now in Portland there are 680 active listings for properties priced above $700,000.  Over the past six months, only 258 properties have closed above $700K. We currently have a 15.8 month supply of homes above $700K.  In stark contrast, we are currently down to a 2-3 month supply of homes priced across the market. The bottom line and PRIME STRATEGY: sell into the Seller's market your starter and investor homes, and buy into the luxury market.
 ]]> </description>
            <pubDate>Tue, 26 Mar 2013 08:07:00 -0700</pubDate>
                    </item>
        <item>
            <guid>http://www.portlandrealestatecafe.com/blog/tight-inventory-levels-for-condo-single-family-homes-why-its-more-important-than-ever-to-find-the-ri.html</guid>
            <link>http://www.portlandrealestatecafe.com/blog/tight-inventory-levels-for-condo-single-family-homes-why-its-more-important-than-ever-to-find-the-ri.html</link>
            <author>markedubose@gmail.com (Mark DuBose)</author>
            <title>Tight Inventory Levels for Condo &amp; Single-Family Homes: Why it's More Important than Ever to Find the Right Buyer's Agent</title>
            <description> <![CDATA[ 
The past year has seen a more competitive real estate market emerge within the Portland Metro Region. Close-in neighborhoods are experiencing price appreciation for the first time in 6 years and a tight inventory environment has become the norm. These are generally considered to be good things, however, for prospective buyers, these improved market conditions can present some challenges as well.  Competition among buyers can increase the time and energy it takes to find the right property. Also, in a more competitive market environment, buyers are more inclined to examine alternatives to detached single family dwellings, most notably condominiums.  After examination of the data in MLS, it is clear that condominium and detached single family segments of the market have tracked and trended very closely with each other over time.


click to view larger image


At present, there is a slight gap in inventory levels, with the detached segment having tighter (lower) inventory levels by approximately one month. Both segments are very tight at present, within a zone characterized as a shortage.  Back in 2010, you can see from the graph that the spread was higher between the two segments.  This proved to be short lived, however, with the spread narrowing to the approximate one month differential and staying within this range, for the most part, over the past two years.  It's very clear from the examination of the two segments that they have trended in a similar fashion, both standing at very low levels of inventory at present. 


 So what does this mean for buyers in this market?  It means that regardless of the property type, whether it's a condominium or detached single family dwelling, BEING READY TO MAKE AN OFFER IS THE KEY TO SUCCESS. Being ready means hiring the right agent.  A knowledgeable, dedicated real estate professional who takes the time to study all aspects of the market, is an invaluable resource in helping a buyer to prepare and execute within this tight inventory environment. From the planning stages that include getting financing in order, targeting the right properties to view, making the right offer and negotiating the terms of the deal, the right agent can make all the difference. Hiring the right agent maximizes a buyer's efficiency and effectiveness throughout the buying process, greatly increasing the chances of a successful outcome. The key in this market is being ready and able to execute in a timely manner and knowing which properties are priced right and in the zone in which quick and decisive action is necessary. If you've been watching this market and feel it's time to take action, call me today and let's get started. 


Mark DuBose has over 23 years of appraisal experience and has helped many buyers make informed financial decisions regarding real estate. Read what Mark's clients have to say about him. Contact Mark
 ]]> </description>
            <pubDate>Fri, 08 Mar 2013 16:09:24 -0800</pubDate>
                    </item>
        <item>
            <guid>http://www.portlandrealestatecafe.com/blog/youtube-test.html</guid>
            <link>http://www.portlandrealestatecafe.com/blog/youtube-test.html</link>
            <author>rwbroad@gmail.com (Bob Broad)</author>
            <title>Portland Real Estate Market Statistics- A Quick Guide through the Total Market Overview (TMO) &amp; Other Resources for Buyers &amp; Sellers</title>
            <description> <![CDATA[ 
As experts in the Portland real estate market, educating our friends, family and clients about what's happening in the Portland market is one of our top priorities. This short video features three statistical resources that we share with our active buyers and sellers on a regular basis- The Total Market Overview (TMO), the S&amp;P/ Case Shiller Report, and "The Market Pulse" from CoreLogic. Please enjoy the first of many educational video blogs and if you would like to receive these reports, all you need to do is send me an email. ENJOY!





 ]]> </description>
            <pubDate>Fri, 08 Mar 2013 16:09:00 -0800</pubDate>
                    </item>
        <item>
            <guid>http://www.portlandrealestatecafe.com/blog/multi-family-properties-residential-or-commercial-investments.html</guid>
            <link>http://www.portlandrealestatecafe.com/blog/multi-family-properties-residential-or-commercial-investments.html</link>
            <author>ellen@portlandrealestatecafe.com (Ellen Bick)</author>
            <title>Multi-Family Properties: Residential or Commercial Investments?</title>
            <description> <![CDATA[ 
"What’s the difference?” you may ask! The number of units is the answer. 2-4 units isconsidered residential, while 5 or more is pegged as commercial. Residential financingis used for 2-4 units and commercial financing for 5+ units. If you are an investor, thedeal will require 25% down. So, which way do you go? That depends on a lot ofvariables: your investing goals, your purchasing power, your business managementsense, and your timing. Call or email me for more insight into your own investing scenario.__________________________________________________________________________Residential or Commercial Financing for Multi-Family UnitsAs an investor, you have a lot of decisions to make. Having well thought-out goalsshould be the beginning of your plan and working with an experienced Realtor can help you achieve those goals.If your goal is to live in one of the units and even self-manage, you can do that bybuying 2-4 units, with residential financing. If you use an FHA loan, your down paymentwill be only 3.5% of the purchase price. However, if you would rather buy 2-4 units aspurely investment, then plan to get approved for a conventional loan with a 25% downpayment. Residential investment loans still offer 30 year terms, with fixed interest rates,similar to primary home loans.  A residential loan will qualify you as a borrower, giving you                                                               credit for 75% of the rents of your units towards your qualifying income. With the low interest                                                              rates today and the increased demand for rental units, that is a winning proposition.


For 5 or more units, you will also need a 25% down payment, but you would work witha commercial lender. Although interest rates will be very similar to residential, the maindifference is the term. A commercial loan term is typically 5 or 7 or 10 years, usuallyfor a fixed rate. At the end of that period, you would either refinance, sell, or pay off theloan.  A commercial loan looks at your credit and income, but also the income and expenses                                                                  of the property you are buying.  The lender wants to make sure that the property can more than                                                        carry itself after expenses.It all boils down to your goals—short term or long term. Call or email me to discuss.________________________________________________________________Making the Offer before the Walk-ThruWhy would someone do this? Make an offer before you have seen what you arebuying?! Because it is regularly required if you want to buy a multi-family property.Owners do not want to disturb their tenants or risk their moving out. And they do notwant to bother with anyone except a serious buyer who has written an acceptable offer.Once that offer is accepted, then the buyer is given permission to do a walk-through ofthe units. This can be done even before the professional inspection, and before yourpromissory note is converted to cash. At that point, you decide if the units meet yourcriteria and if you want to continue to the next step of the professional inspection.


Call or email me to discuss all the steps involved in a multi-family property purchase.


Ellen Bick has 20+ years of real estate experience and is currently working with multiple investors. Read more about Ellen Bick
 ]]> </description>
            <pubDate>Fri, 08 Mar 2013 11:08:00 -0800</pubDate>
                    </item>
        <item>
            <guid>http://www.portlandrealestatecafe.com/blog/the-real-world-and-portland-real-estate.html</guid>
            <link>http://www.portlandrealestatecafe.com/blog/the-real-world-and-portland-real-estate.html</link>
            <author>tommystefanek@gmail.com (Tommy Stefanek)</author>
            <title>The Real World and Portland Real Estate</title>
            <description> <![CDATA[ 




What does MTV’s Real World and Portland Real Estate have in common?I’m sure a lot of you didn’t even know that The Real World was still airing new shows? Well, it is and the 28th season finally makes its way to Portland OR. MTV filmed the show this past summer and coming up on March 27th the new season will air at 10pm on MTV. 


But the real story is all about the location they used. Many fans of the show simply watch to see the beautiful home that they pick for these kids to live in. Of course the irony is that they live in this beautiful home for free. You know, just like the “real world”...So the burning question is, if they picked Portland OR - where would they house these kids? Well, if you guessed The Pearl District you are right! The location they chose was the former site of Peter’s Office Supply on 9th between Flanders and Everett in the Pearl District of Portland OR. (see the picture above) MTV of course went in and made the loft look incredible but it’s a shame because everything will be torn down in order to make way for a new Pearl District Hotel. The new hotel will have an entrance on NW Everett Street. The plan is to build an eight-story hotel with as many as 220 rooms and two levels of underground parking. Did we also mention that this hotel will be across the street from The Elizabeth Condominium Building? And now the uproar begins because as you can image residents that have east facing condos do not want their view ruined by a hotel, especially one that might be 8 stories high! Around 45 residents attended a Pearl District Neighborhood Association meeting at which representatives of the Wisconsin-based developer, Raymond Management Company, shared preliminary sketches of the structure. The developer plans to seek design advice from the Portland Design Commission with the hopes to gain city approval so that it can begin construction. Residents are concerned for a number of reasons. One main reason is that the hotel might be a Hampton Inn and they feel that hotel has a low-quality image and doesn’t reflect the image that they want in the Pearl. Of course other issues will be inadequate parking for the hotel, the noise from construction and the blocked views of many of the condos. But the reality is that the lot can be zoned for a hotel and the hotel could easily be as high as 8 stories. So, when you are buying in the Pearl District you should talk to us at Portland Real Estate Cafe so that we can make sure you are an educated buyer. In today’s market you need to have a realtor that is a neighborhood expert. One that is constantly staying on top of everything that is happening in Portland.





And here at Portland Real Estate Cafe we stay on top of everything that is happening in the marketplace. We are industry experts because we believe in this industry. 
 ]]> </description>
            <pubDate>Wed, 06 Mar 2013 11:20:00 -0800</pubDate>
                    </item>
        <item>
            <guid>http://www.portlandrealestatecafe.com/blog/dogs-in-the-pearl.html</guid>
            <link>http://www.portlandrealestatecafe.com/blog/dogs-in-the-pearl.html</link>
            <author>tommystefanek@gmail.com (Tommy Stefanek)</author>
            <title>Dogs in the Pearl</title>
            <description> <![CDATA[ 
If you have spent any time in the Pearl District you have noticed that it is a dog lovers paradise. The number one question we hear from our clients about living in the Pearl is: will dogs be accepted in the condominium building that we like? And the answer is usually always YES!The main thing that we always check with our clients is the Bylaws of the Homeowners Association. When you choose Portland Real Estate Cafe as your realtors you have a team on your side and we will make sure that you are buying into a condominium building that fits your lifestyle. We remind our clients that you will have to live by these Bylaws so it’s in your best interest to make sure you go over them but we will guide you through that process. Some of the condominium buildings have restrictions on weight and breed. And it is important you let us know about your beloved pet(s) or perhaps the pet that you one day want to adopt so that we can make sure you are buying into the right building.Here at Portland Real Estate Cafe we know all too well how precious our pets are. My own 10 pound miniature pinscher is a bit of a dog celebrity in the Pearl. His name is Godzilla and he was adopted from The Oregon Humane Society. He loves going into many of the stores with me because he is always greeted with a treat and a smile. And everything that Godzilla needs is located within the Pearl District. Godzilla’s vet is Pearl Animal Hospital that is right by the Encore and attached to the Pinnacle. And he goes to doggie daycare at LexiDog right on 10th across the street from the Gregory. And he is very excited about the Fields Neighborhood Park finally opening up mid March, or so we hope! Currently you can see him walking around Jamison Park or down by the Willamette River Greenway Trail which starts for us right by the beautiful Waterfront Pearl. The Pearl District is truly a wonderful place for people with pets! 



 ]]> </description>
            <pubDate>Wed, 13 Feb 2013 12:04:00 -0800</pubDate>
                    </item>
        <item>
            <guid>http://www.portlandrealestatecafe.com/blog/ainsworth-pta-parenting-seminar-creating-safe-havens-with-kathy-masarie-md.html</guid>
            <link>http://www.portlandrealestatecafe.com/blog/ainsworth-pta-parenting-seminar-creating-safe-havens-with-kathy-masarie-md.html</link>
            <author>rwbroad@gmail.com (Bob Broad)</author>
            <title>Ainsworth PTA Parenting Seminar with  Kathy Masarie, MD:  Creating Safe Haven for our Kids</title>
            <description> <![CDATA[ 
 I have heard WONDERFUL reviews about the work that Kathy Masarie's parenting books, especially her work about raising kids in today's digital world.   I am pleased to share with you that the Ainsworth Elementary PTA has sponsored a seminar that will be held at the school on Feb 19 from 6:30 - 8:30 PM.  I'm definitely going to attend.  Please let me know if you're going to be there. 



 ]]> </description>
            <pubDate>Thu, 31 Jan 2013 15:58:00 -0800</pubDate>
                    </item>
        <item>
            <guid>http://www.portlandrealestatecafe.com/blog/support-a-local-swimmer-by-donating-to-the-portland-aquatic-club-swim-a-thon.html</guid>
            <link>http://www.portlandrealestatecafe.com/blog/support-a-local-swimmer-by-donating-to-the-portland-aquatic-club-swim-a-thon.html</link>
            <author>rwbroad@gmail.com (Bob Broad)</author>
            <title>Support a Local Swimmer by Donating to the Portland Aquatic Club "Swim-A-Thon"</title>
            <description> <![CDATA[ 
This week, Jan 28th-Feb 1st, the Portland Aquatic Club (PAC) is holding its annual Swim-A-Thon where over 200 swimmers from Portland and SW Washington will be participating in a 200m or 2-hour swim (whichever comes first) to raise money for youth swimming. 95% of the proceeds will stay with PAC and be used for additional pool rentals, travel assistance and much more! Not only is this an excellent event to raise money for neighborhood community centers (Columbia &amp; Dishman Pools, Southwest &amp; Mt. Scott Community Centers) and local youth programming, but it is also a great opportunity to do some socializing. Additionally, this event increases community awareness of the team and boosts team spirit! For more information about the event, please visit the PAC website.


If you would like to send a much-appreciated donation, and sponsor two of our own, Maggie &amp; Henry Strecker, please complete this form, make checks payable to Portland Aquatics Club and mail to:


PAC c/o Cindy Strecker


780 SW Menefee Ln.


Portland, OR 97239
 ]]> </description>
            <pubDate>Tue, 29 Jan 2013 09:42:00 -0800</pubDate>
                    </item>
        <item>
            <guid>http://www.portlandrealestatecafe.com/blog/pearl-district-2012-real-estate-market-in-review.html</guid>
            <link>http://www.portlandrealestatecafe.com/blog/pearl-district-2012-real-estate-market-in-review.html</link>
            <author>rwbroad@gmail.com (Bob Broad)</author>
            <title>Pearl District 2012 Real Estate Market in Review</title>
            <description> <![CDATA[ 
Our review of the 2012 sales statistics for the condo market would suggest that it's reasonable to expect continued price improvement for sellers of Pearl condos.  Just four more homes sold in the Pearl than in 2011, yet prices jumped 9%. Despite flat sales, listing inventory for W Portland condos is down 27% as we exited 2012.





The largest price increases in 2012 were realized in the smaller units below 750 SF and the homes with 1,500-1,750 square feet of living space.  Modest price improvements were realized across the remaining segments.  Unit growth was strongest in the units between 750-1,000 square feet and the largest condos in the Pearl where the sales rate was up almost 30%.


If you're doing homework in advance of a purchase or sale, let us know so we can help you better understand the values in the buildings you love.
 ]]> </description>
            <pubDate>Wed, 23 Jan 2013 18:21:00 -0800</pubDate>
                    </item>
        <item>
            <guid>http://www.portlandrealestatecafe.com/blog/raleigh-hills-sales-detail-for-4th-quarter-2012.html</guid>
            <link>http://www.portlandrealestatecafe.com/blog/raleigh-hills-sales-detail-for-4th-quarter-2012.html</link>
            <author>ellen@portlandrealestatecafe.com (Ellen Bick)</author>
            <title>Raleigh Hills Neighborhood Home Sales for 4th Quarter 2012</title>
            <description> <![CDATA[ 
Check out our 2013 Raleigh Hills Newsletter for more information.


Would you like to see what that house down the street sold for? Are you curious about how long it was on the market?  Are you thinking about selling your home and want to take a good long look at the comps in your neighborhood? We can help. We have recently initiated a project to add Pending and Sold listings to our Web site.  


While we're working to add these sold properties to our home search app, we've posted a table with the selling details and a further link to the data with photos of each sold home.  Is this helpful?  If the home you want to research is not on this list, or you want to talk to your neighborhood expert, simply give me a call (503-481-0825) or send me a quick email note, and we'll schedule time to talk.


 








Highlights from Q4 include:




Seven of the 33 successful sellers got their buyer under contract in less than two weeks (21%).


Another seven aged listings cleared the market after being on the market for 131-492 days or an average of 278 days.   The remaining 80% of listings cleared the market in just over a month, on average.


Raleigh Hills homes sold for an average price of $356K in the fourth quater of 2012.


Ten of these sales happend at or above the (final) list price.  Six sold at or above the original list price, and only one of these sold in the first week.  On average it took these sellers 23 days to secure their buyer.


Seven of the sold homes were larger than 3,000 square feet, and these were the slowest selling properties, taking 6+ months on average to go under contract.  Four of the slowest sellers were in this group of large homes.


The seven properties that have 2,000 - 2,500 SF sold at 100% of List price, on average!




 
 ]]> </description>
            <pubDate>Wed, 23 Jan 2013 12:49:00 -0800</pubDate>
                    </item>
    </channel>
</rss>