It’s May, and I’m a little remiss in mentioning the April 2008 issue of Portland Monthly and their annual real estate issue.
This year, the issue seems a little lighter, but they report on the general market health, identify seven housing trends, rate a few top neighborhoods based on price (low and high), short-term and long-term appreciation, and pace of sales. The article concludes with their Neighborhoods by the Numbers section — measuring real estate factors, school performance, population mix, crime stats, parks, and commute times.
Trends they note:
Fewer Californian immigrants
Homes as personal brands
The attraction of living in the suburbs/exurbs
Opportunities in a soft condo market
A growing, aging population in Portland
Rising rents — 10 to 15%
Remodeling ‘green’
Last year, they posted the ‘Neighborhoods by the Numbers’ section on their website, but I don’t find it yet this year.
Out of respect for their copyright, I won’t post a copy of the articles here, but since it’s off the newsstand, you can email me and I’ll send it along.
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Portland State University released its 2nd quarter Real Estate and Urban Studies Report.
And it weighs in at a beefy 79 pages.
The residential real estate section is consistent with what you’ve read here and in other local outlets — sales down, pricing flat for Q1.
As for the rest, I haven’t absorbed it yet, but you may find interest in the weighty sections by PSU faculty and consultants about Portland’s crossings (bridges), “center” vs. “corridor” growth strategies, Streetcar research, and other land use, urban development and commercial real estate topics.
Full report here.
Many out-of-towners that contact me to talk about the Portland real estate market often ask about the ‘best neighborhoods’ — for resale values, for education, and most often for a general sense of community or livability.
These questions can create a slippery slope for a licensee (i.e. Realtor(R)). Due to Fair Housing laws (and good common sense) we can’t steer clients away from certain neighborhoods because of racial mix, or draw conclusions for a client based on crime rates, demographic profiles, etc.
It’s one reason why I appreciate the City of Portland biannual Resident Survey about issues of neighborhoods and livability. It can fill in blanks for some of the questions that I can’t ethically or legally speak about.
The survey measures Portlander’s livability views on city services, development, traffic, infrastructure, and government oversight. There’s plenty of detail — sorted by neighborhood or by survey question.
The survey doesn’t measure ‘vibe’, but for a quick overview, check out the general satisfaction scale for all Portland neighborhoods. As I noted a couple years ago, the dissatisfaction tends to rise as you head east, but you can draw your own conclusions.
After launching their inaugural, eye-catching print issue recently, Portland’s newest home magazine, Portland Spaces has also hit the online space with some real intent.
Another installment of Week Links, an occasional link list of items germane to the Portland real estate market.
Bank of America acquires Countrywide for $4B.
Good or bad? Coverage and analysis by Diana Olick of CNBC at Realty Check, Brian Brady at Bloodhound Blog, and Jillayne Schlicke at Rain City Guide.
And one non real estate-related note: 1st Annual No Pants! on MAX
Yup, in true Keep Portland Weird fashion, don’t be surprised to see mass-transit riders dropping trou’ at 4:30pm this Saturday. Coverage and information for those inclined to de-pants on Metroblogging Portland. Underwear required.
A favorite tradition of wine enthusiasts, it’s an opportunity to visit many of the smaller Oregon wineries that only open twice a year–Thanksgiving and Memorial Day.
Because they don’t have formal tasting and retail space, the smaller wineries open up the production floor near their barrels, invite cheesemakers, bakers and other food artisans, and provide the first tastings from the 2006 crush. Of course, the larger winemakers are open too, but you can visit them just about any weekend.
You’ll find a wide variety of wineries, wine bars, barns, and cellars throughout Gaston, Forest Grove, Newberg, Carlton, Lafayette, Gaston, McMinnville, Scholls, Dundee and south to Salem to be open Friday through Sunday, with entrance fees ranging from free to well over $20.
So, grab your mobile GPS, print out the map and winery list and head out. The weekend’s weather forecast is making for an unforgettable scenic and gustatorial adventure.
And, if you’re in the market for wine property, you’ll want to look up Peter Bouman of GMAC Realty, who is both a winemaker and wine country real estate specialist. Ask me for his number or look for him pouring for the Sineann label this weekend.
As one of the nation’s leading cities in conservation, Portland is also at the forefront of sustainable building practices, products and technologies. To accentuate that point, this Saturday, September 15, the city sponsors the sixth annual Build It Green! Tour of Homes and Information Fair.
Now in its sixth year, the 2007 Build It Green! Tour of Homes features eighteen remodels and new homes, two high-rise residential condominiums and one cohousing development, showcasing a variety of ways homeowners are conserving energy and other natural resources while creating beautiful, unique and healthy homes.
Homes of all kinds can be found on the tour: high-rise condos, period remodels, multi-family homes, eco-architecture (cob, straw, clay), ultra-modern rowhouses, infill projects and co-housing.
Portland and its real estate market have been making a few headlines recently.
First, the local Portland Tribune (Portland’s semi-weekly newspaper) provides some deep reporting on the local real estate and housing market as part of its ReThinking Portland series.
Articles touch on topics such as affordability, density and planning, first-time buyer assistance, gentrification, urban renewal, and housing for seniors. The main theme of the section is affordability, or the lack of it as the Portland market continues to appreciate at a much greater rate than wage growth.
Then, Fast Company magazine names Portland as one of its Green Leaders in its Fast Cities article. The article highlights the top 30 urban centers worldwide they believe will be sites for future business innovation based on factors such as creative class, research & design, and startup environments. In Fast Company’s words:
They are cauldrons of creativity where the most important ideas and the organizations of tomorrow are centered. They attract the best and brightest. They are great places to work and live.
And about Portland:
Population > 2.5 million
Leading indicator > With 125 projects and counting, Portland has the most structures certified by the U.S. Green Building Council
Fast companies > Nike; Tektronix; Adidas USA; ad firm Wieden+Kennedy
Three decades ago, Portland became a case study on how to stuff sprawl when it enacted strict limits on urban growth. Today, it’s at the forefront of the “eat local” revolution, in which individuals and restaurants buy directly from area farmers to preserve livelihoods and open space. With 13 farmer’s markets, and nearby world-class vineyards, residents not only buy local but they eat and drink well too.
Sounds like the author spent some time at Higgins.
Finally, HousingPredictor.com puts Portland in its top 25 appreciating markets (at number 10). Their coverage of Oregon forecasts an appreciation rate of 6.7% in the Portland area for 2007. Albuquerque comes in at number one at 9.1% anticipated appreciation.
Portland-area farmers’ markets are opening this month, gearing up for the bountiful summer season. Virtually every Portland neighborhood and suburb has a weekly market, flush with fresh, local-grown fruit, vegetables, plants, plus crafts, artwork, music, and more.
Local farmers’ markets are broadening their appeal beyond just local foodies. Many markets are making it easier for lower income families to shop, as well as offering modern transaction services. From the Oregon Farmers’ Market Association:
Farmers’ Markets are increasingly offering electronic services on their market site. These electronic services have expanded sales through the use of food stamps, debit and credit card transactions.
Time to catch up on some local and national real estate story links.
Group predicts median home prices will drop — MSNBC
Decline this year will be first since values began being tracked in late ’60s
(Will it happen in Portland? We’ll see . . . )
Portland’s Leading Alternative Paper Puts Out Its Cheeky Real Estate Viewpoint - Willamette Week
HABITAT: The Plunge
Buy a house? Here’s why you should stop worrying and become your own landlord.
And just for fun…..
Real Estate Roller Coaster - A depiction of housing prices from 1890 to the present, as charted on a roller coaster ride. (A little long, but is interesting to see what awaits us around the next bend after such a long run-up.)
It’s May, and I’m a little remiss in mentioning the April 2008 issue of Portland Monthly and their annual real estate issue.
Another installment of Week Links, an occasional link list of items germane to the Portland real estate market.
Dreading the post-Thanksgiving Christmas Crush of Commercialism?
As one of the nation’s leading cities in conservation, Portland is also at the forefront of sustainable building practices, products and technologies. To accentuate that point, this Saturday, September 15, the city sponsors the sixth annual Build It Green! Tour of Homes and Information Fair.
Portland and its real estate market have been making a few headlines recently.
Portland-area farmers’ markets are opening this month, gearing up for the bountiful summer season. Virtually every Portland neighborhood and suburb has a weekly market, flush with fresh, local-grown fruit, vegetables, plants, plus crafts, artwork, music, and more.
