city news...
Jan 7,2009
Buyers Benefit From Sliding Home Values
by Agent503
For the first time since the housing bubble burst, the year-over-year decline in value for residential property in Portland is in the double-digit range. According to the S&P Case-Shiller Index, arguably the nation’s most recognized source for home price changes, Portland homes lost more than 10% since October 2007. But not all neighborhoods have been affected to the same extent. Losses in several close-in neighborhoods have remained in the single-digit range, some have even posted mild gains. In some situations sellers have lowered prices on their homes beyond the neighborhood trend, creating interesting opportunities for buyers. Find out more here .
posted at 09:58 AM
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Dec 12,2008
As much as 60% of inventory at some condo buildings qualifies as Desperate
by Agent503
With little new inventory hitting the market this time of the year, an increasing number of units are sitting on the market - vacant. Portland's Desperate Sellers Database now includes almost 200 such properties and reports that as much as 60% of the inventory at some condo buildings qualifies as Desperate. Both the Meriwether and the John Ross have been hit hard, but a number of buildings in the Pearl haven't been spared either. Find out more here .
posted at 08:13 AM
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Nov 25,2008
What it means to live in a "green" home
by TeachStreet
The Moon brothers, Garrett and Dustin, of Southeast Portland have decided to go green. It turns out that the new home they're building is already exceeding the standards for " green design " set by the Cascadia Region Green Building Council ("CRGBC"). The council was set up to establish and monitor green building standards on the West Coast and Pacific Northwest.To date, no new development has achieved all the rigorous standards set by the CRGBC in one design. The Moon's believe they are a shoe in to being the first to build a fully green home .
Photo: The Moon brothers, by: SAM BENNETT
The Living Building Challenge is a program developed by the CRGBC. The Moon's have entered the challenge which requires designers’ buildings be 100% supplied by on-site renewable sources. The challenge covers “six petals”:
site energy usage materials water indoo
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posted at 05:11 PM
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Nov 13,2008
Portland Loos Coming Soon...
by jenniferd
I can hardly hold it -- the excitement I feel in letting you know that the Portland Loos will make their much awaited debut early this December. What is a Portland Loo, you ask? The Portland Loo is Portland's newest form of relief -- a place to go when you gotta go. No longer will you have to hold it until you get home because conveniently located on the street corner will be on oasis to Portland's bladder stretched coffee fiends -- a bathroom. (You might also have heard them referred to as Leonard's Loos in honor of Commissioner Randy Leonard who has so delicately taken these toities from conception to fruition.) The Portland Loo offers high durability and a unique and balanced blend of privacy and security, all at a cost that is a fraction of current stand-alone restroom models. The Loo can be installed almost anywhere that water and sewer hookups are available. They will be open 24/7 and are ADA accsesible. The Loos are solar powered. The first Loo will be installe
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posted at 12:27 PM
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Nov 11,2008
Milepost 5 » Community for Creatives
by the nice brian
It was just over a year ago that I first heard of MilePost 5 . It is now open, people are living there, art is being made and there haseven been an interactive art performance installation by Hand2Mouth Theatre ! If you haven't seen MilePost 5—you should! It's the result of the great creativity and hard work of many Portlanders. Milepost 5 is a creative community designed for the urban dweller interested in being part a dynamic, artistic environment. Artists and creative individuals of all disciplines are welcome. Live/work Condos $99k-$274k Grants and creative financing are available to those who qualify. Contact Broker Claire Paris for more information or to make an appointment: Claire@milepostfive.com, 503.998.4878. Viewings every Saturday and Sunday 3–5 p.m.
posted at 12:30 PM
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Oct 30,2008
New Construction Condos Adjust Pricing
by Agent503
Low occupancy rates among Portland’s new condo developments are increasing the pressure for many developers. As a result prices have started to drop in recent months. Most new construction condos are now discounted by 10-15% and developers are more likely to entertain aggressive offers. Click here to find out more about occupancy levels and price drops at places like The Encore, John Ross, Pacifica and more.
posted at 10:36 AM
1 comments
Oct 22,2008
Gap Widens Between Ask and Sold Price For Portland Condos
by Agent503
In a troubled condo market the gap between ask and sold prices is widening. On average over the last six months sellers have typically ended up settling for 10k less than their final asking price. Some of the deepest discounts have been for properties that have lingered on the market for more than 200 days. Click here to find out more about median discounts at selected condos in Pearl, Downtown and South Waterfront.
posted at 09:43 AM
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Oct 16,2008
City Condos Inventory Update
by Agent503
According to a recent article by the Oregonian , there are 884 new construction units available in central city towers. Based on an average of 14 sales a month over the third quarter, it would take about 5 years to sell Portland’s central city new construction inventory. While the re-sale condo market isn’t exactly experiencing a banner year either, the overall situation is considerably different and altogether healthier than new construction. Find out more about how the re-sale market is faring here .
posted at 09:18 AM
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Oct 9,2008
Former Mortgage Broker’s Home Takes The Prize For “Most Desperate Seller”
by Agent503
Not too long ago this prestigious 7000 sq. ft, 6-bedroom Mt. Tabor home was included in the National Register of Historical Places. It is now bank-owned and has become the mockery of several Portland real estate blogs. The property went on the market in May 2007 for 1.8M. Fifteen months later it is now priced at 899k, a whopping 53% less - the biggest drop among the 160 properties tracked in Portland's Desperate Sellers Database. The bank took over this property when the owner, a local mortgage broker, was unable to...uhmm...meet his obligations. If that ain’t a sign of the times… Find out more about this month's real estate activity and other Desperate Sellers here .
posted at 09:45 AM
2 comments
Sep 29,2008
Portland Neighborhood Makes Business Week's Top 15 Up-And-Coming List
by pearlgirl
According to Business Week , if you want to know where the next up-and-coming hot properties are located—watch where the artists are living now: urban areas in transition. Their advice: buy now while it's cheap. A Portland neighborhood made the list of Business Week's top 15 up-and-coming neighborhoods. Think you know which one it is? Find out here .
posted at 09:07 AM
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