Return on Investment for Sellers

Clients often ask me which home renovations, remodels and improvements will add the most value to their home when it comes time to sell. More accurately, the question is: which projects will Read more

February 17, 2010 · Filed Under Investment, Portland Data, Portland Real Estate Market Data

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November Stats

There has been a lot of talk regarding reports from the National Association of Realtors and others regarding the record price gains throughout the United States during the last seven months and this month especially.  Read more

November 30, 2009 · Filed Under Portland Data, Portland Real Estate Market Data

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Latest Market Action Analysis from RMLS

Well…its a bit of mixed news in the Real Estate Market according to last months stats from RMLS Market Action Report. Inventory has dropped to 10.2 months from 11 months in April. This marks the fourth Read more

June 19, 2009 · Filed Under Portland Real Estate Market Data

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February Market Report for Portland, OR


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January’s stats just came out, and it’s not surprising that things are slow in the market. Despite the fantastic buyer’s market that we are experiencing, we are missing one important ingredient: Buyers! That statement is not entirely accurate, because the market seems to be picking up. Now, we have a lot of inventory and not enough buyers. Last month, we had an increase in the number of pending sales (52% vs. December), yet we had over 120% increase in new listings. Therefore, our inventory has increased, despite the increase in “prospective” buyers. And, of the 4196 pending sales, only 732 (or less than 1 in 6) actually closed. This is a significant number…what happened?

Loans are harder to come by and people are worried about losing jobs. It’s as simple as that. At a time when traditional buyers should be able to purchase a home, they just can’t find the loan or the job security to do it. We will continue to see small percentages of closed homes while consumer confidence is low and while banks are afraid of lending.

On a positive note, we aren’t hurting as much as most of the country. MSNBC again rated Portland, OR as one of the top 5 Real Estate Markets in the country along with San Diego, Washington DC, New York, and Charlotte.

If the bailout works, and lenders free up credit, I would expect to see a higher percentage of these pending sales close. This would, of course, lower our inventory and make sellers a lot happier.  Of course, if you have any questions regarding the market, feel free to contact me to talk about your personal situation.

March 3, 2009 · Filed Under Portland Real Estate Market Data

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Cold December Stats in Portland, OR


Folks, it is a wonderful time to buy a home. Whether it is your first home, second home, or even an investment property, you will rarely find a market better than our current market. Interest rates are in the 5% range for 30-yr fixed loans, prices have dropped, and there are a lot of homes on the market.

According to RMLS, we have 14.1 months of inventory at our current rate of sales, and sales have fallen by over 30% from December 2007 to December 2008. This means that sellers must be very competitive in their pricing, and the condition of the home must be ideal. I see many sellers that have homes sitting on the market because they aren’t prepared to price competitively or make changes to the condition of their home. So in a sense, the inventory number of 14.1 is misleading because some of these homes just aren’t in the game. We have an interesting dilemma from my perspective. Buyers have a fantastic position in the market, but are tentative because of the current economic situation. Sellers want to sell, but some can’t adjust prices because they might end up losing any equity that they have in their home. The best way to sell is to get your home in great condition, and price it near or below comparable properties. It simply has to be the most enticing home on the block!

As of right now, only West Portland has seen an increase in home prices (1.9%) from the last 12 months compared to the previous 12 months (December 2006 to 2007), and I am confident that will disappear next month. So what do we do? Well… if you sell high, you are going to buy high. Conversely, if you sell low, you are going to buy low. There are still plenty of opportunities and strategies to do well in this market, give me a call if you want to look at your unique situation. Have a good month!

January 24, 2009 · Filed Under Portland Data, Portland Real Estate Market Data

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Misleading Information? Depending on Your Point of View

The October 29th Addition of The Oregonian talks about the “record tumble” in Portland Home Prices compared to a year Read more

October 30, 2008 · Filed Under Portland Real Estate Market Data

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Jump in Number of Homes Sold Out West, Decline in Portland

Real Estate is local.  Yet many of us are still interested in what is going on in other areas outside of our city.  Why?  Because Read more

October 25, 2008 · Filed Under Portland Real Estate Market Data

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Sauvie Island October Tradition

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A tradition here in Portland, Oregon during October is visiting  Sauvie Island and the numerous Pumpkin Patches.  Read more

October 24, 2008 · Filed Under Events, Neighborhoods, Portland Real Estate Market Data

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The Slow Slide…the Latest Stats

Whenever I visit my parents in Arizona, its HOT.  I’m told, however, that it’s a dry heat.  Well the market in Portland is sliding, Read more

October 20, 2008 · Filed Under Portland Real Estate Market Data

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MLS Soccer, Real Estate, and Lents

In the last few years, we have seen and heard a lot about the Lents Neighborhood.  Most of that attention has been due to Read more

October 3, 2008 · Filed Under Investment, Neighborhoods, Portland Real Estate Market Data

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