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Rob Levy's Portland Real Estate Blog

Rob Levy

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Displaying blog entries 141-150 of 301

Portland Real Estate Market Continues to Climb

by Rob Levy, Prudential Northwest Properties

As in the past 22 years in a row now Portland home prices continue to rise.

In the 12 months ending in November, 2007 vs. the previous 12 months, the average price in the Portland Metropolitan area appreciated 6.5% according to RMLS.  The average price rose from $320,100 to $340,900 and the median price rose from $270,000 to $288,900 for an increase of 7.0% for the same 12 month period.  The average sales price for all the sales in the month of November 2007 was $344,500 with an average market time of 67 days.  At the end of November there were 14,435 active listings listed in the MLS representing a 8.3 month supply of homes. 5.5 months is considered optimum and to be a balanced market.

A chart with year over year comparisons can be found at www.roblevy.com/newsletter.asp

Compare Great Cities to Retire To!

by Rob Levy, Prudential Northwest Properties

Hello All,

 

I don’t have much this week, but I did find a great comparison of cities in regards to great places to retire.  Check the link below-

 

http://money.cnn.com/magazines/moneymag/bpretire/2007/snapshots/PL4159000.html

 

Have a great week!

Shawn Headlee!

Do you love Beer? If so, you should move to Portland Oregon!

by Rob Levy, Prudential Northwest Properties
Submitted by Bruce Hecht
Portland Oregon is home to more "Craft," "Boutique," and specialty brewing companies than any other city in the United States.
 
Now you can buy a nice home in Portland Oregon that is still going up in value for under $250,000.   Now you can live in a city that boasts another great top honor - a Beer Mecca.
 
We have the best micro brew beer in the United States.  Full Sail Brewing company just won the top honors at the largest competition in the world.

Check out their site and read all about it.    

In Portland Oregon we Live GREEN, and Other Cities are just GREEN with Envy!

by Rob Levy, Prudential Northwest Properties

Submitted by Bruce Hecht

Another first for Portland Oregon.  We have the "MOST GREEN buildings in the United States". 

See these sites to learn more: Greeb Building Services,Cascadia and Earth Advantage.

We are currently promoting this at an International Conference with many local businesses touting local Oregon Products and how we are continuing to "build Green" in Portland, Oregon.

Our Mayor Tom Potter has stepped it up to encourage and publicize Portland's always growing green building development. The city also created a new position - a manager for sustainable economic development.

 

And then there's PDX Lounge, which organizers say is an important vehicle for networking, showcasing local businesses and putting deals in motion.

 

Last year at the Greenbuild conference in Denver, about 30 local businesses set up shop in the PDX Lounge. The lounge itself was about  5,000 square feet and had a bar with a menu that described each company's services like a tasty yet potent cocktail.

 

"The whole thing is to provide an opportunity for local businesses to have a venue outside a sterile convention hall to meet with people and show their products," said Portland Commissioner Dan Saltzman, who oversees the city's office of sustainable development. "One night we have a party where we invite everybody in the world to come by and taste Oregon foods and Oregon wines."

 

This year, the lounge will be home to about 60 companies and organizations from throughout the state, said Tom Osdoba, who was recently hired as the city's first manager for sustainable economic development.

 

In addition to the big party, there will also be a discussion panel on climate change and a fashion show featuring Nau and Keen, two local apparel makers. Eventually, Potter wants to find a permanent space in Portland for PDX Lounge.

 

But while it's in Chicago, Potter plans to meet with Mayor Richard Daley during the conference to share strategies on clean energy, supporting sustainable businesses and other topics.

 

The two cities are considered among the greenest in the world. The U.S. Green Building Council has certified 33 green buildings in Portland, more than any city in the world, based on a number of environmental quality factors. Seattle boasts 31 and Chicago has 27".

Calling All Investors! Buy your rental property in Portland!

by Rob Levy, Prudential Northwest Properties
Submitted by Bruce Hecht
Calling all investor's buy in Portland where your rental property will rent out fast!
 
The latest great news from Portland Oregon about investing in rental property is; you should have no problem renting it out very fast and for a strong dollar amount. 
 
Check out this website: www.oregonlive.com  search for "Psst, got a place to rent"?
 
This article just reinforces the fact that many investors have known for years, there are thousands of good tenants looking for homes to rent in Portland Oregon. 

Buy 3 or 4 rental properties and you should have them rented out before you have to make your first mortgage payment.  I own 3 of my own, I had 20-30 potential renters apply last May when I needed a new renter.
 
There are still some great homes to buy that are well under $275,000.  Check out www.roblevy.com  sign up to get property searches sent to you, the second they come on the market.

Important Things to Consider when Purchasing a Home!

by Rob Levy, Prudential Northwest Properties

Submitted by Sandra Hanis

Start out with buyers tips at www.roblevy.com

If you've been renting for awhile, you probably haven't given a lot of thought to the type of heat source you want in your home purchase. Did you know heating and cooling accounts for 44 % of a home's energy use? It is not likely that that figure will go down in the years ahead!

In the Northwest you have many choices... electric, gas, oil, wood or propane. Often a buyer is so focused on the appearance of a home that they neglect to see what the heat source is. Our team of agents will note and point out the heat in a home as well as check with you to see if you have a preference. If you are from another area, you may not realize we need to be aware of buried oil storage tanks and that there are important things you need to do to minimize any future liability on a property. I am always surprised to see a recent purchase in the last 5- 10 years when a client was not advised of that by their agent...something we in the Portland area have been aware of for many years...especially in homes older than 1950.

You can easily research and be aware of heating issues and more such as: Insurance, lead paint, insulation, asbestos, windows as well as find buyer tips, financial information and more all at: roblevy.com You can always feel free to call any of our experienced agents for a free consultation to discuss your options in home ownership. 503-906-1444

Dining in Portland Oregon - a Hidden Food Mecca!

by Rob Levy, Prudential Northwest Properties

Submitted By Clinton Downs

“Let’s meet for food after work then?”

 “Yeah, that’d be great! Where at?”

This stunning dialogue isn’t from a movie, but is inspired by frequent conversations I have with my friends. While the next line changes depending on the day and the friend, the answer is never “There’s nowhere good.”

In fact, “Portland has emerged from its chrysalis as a full-fledged dining destination.”

 

That’s not made up dialogue from a conversation around my office, that’s theNew York Times.  They Continue:

 

This is a golden age of dining and drinking in a city that 15 years ago was about as cutting edge as a tomato in January. Every little neighborhood in this city of funky neighborhoods now seems to be exploding with restaurants, food shops and markets, all benefiting from a critical mass of passion, skill and experience, and all constructed according to the gospel of locally grown ingredients.”

 

So there is great food here in Portland, and the subsequent, practical question of “Where?” can be answered in a few different places:

 

BarFlyMag has a great rundown of all the Happy Hours in Portland:

Another great reference for Downtown Portland is the Urban Pages (they also have a Seattle outpost).

If you’re interested in a regular periodical, Portland Monthly is a great arts and culture magazine chronicling the gamut of where the glitterati hang out.

The Oregonian tries to round up delicious hotspots in their Food Day section.

For the frugal connoisseur, you can’t beat the Willamette Week’s Cheap Eats section. 

Another site for reviews, pics, and summarized info is Portland City Search - not just restaurants, but shops, theaters, etc... 

 

And finally, there is always the new-old fashioned Google Maps Restaurant Search

 

Good luck out there, and happy eating.

 

Portland Real Estate Market Continues to Appreciate

by Rob Levy, Prudential Northwest Properties

For the 12 months ending in August, 2007 vs. the previous 12 months, the average price in the Portland Metropolitan area appreciated 7.8% according to RMLS.  The average price rose from $313,000 to $337,400 and the median price rose from $263,700 to $283,500 for an increase of 8.1% for the same 12 month period.  The average sales price for all the sales in the month of August 2007 was $366,900 with an average market time of 57 days.  At the end of August there were 15,782 active listings listed in the MLS representing a 6.2 month supply of homes. 5.5 months is considered optimum and to be a balanced market.

The chart below shows the Average Sales Price for the Portland Metro area as compared to last year.

Portland Oregon keeps adding to the reasons why you should invest in real estate here:

by Rob Levy, Prudential Northwest Properties

By Bruce Hecht
 
Another Clothing company just announced that it is moving its United States Headquarters to Portland! 
 
Icebreaker is a world known company from New Zealand - they primarily make outdoor clothing from Merino Wool, mostly found in New Zealand.  An article I recently read said the company is moving because they wanted access to the city's highly talented employee pool that they could draw from and all of the outdoor activities that are right here in Portland, Oregon. 
 
This may also be the reason why other companies like Nike, Columbia Sportswear and Keen Footwear have made their home in Portland.
 
It definitely seems to me that business is growing here.  People are relocating to Oregon and it is the perfect time to buy an investment home and rent it out.  Inventory is up, prices are strong and stable - most of all - rent is up approximately 6.8% so far this year.

Fed Cut's Rate by .5%

by Rob Levy, Prudential Northwest Properties

By Shawn Headlee

 

Seems like the Fed listened to what everyone was saying about the mortgage crisis.  This is good new for the stock market, but does not directly affect the mortgage rates.  The drop is designed to stimulated the economy which is not always good for the mortgage rates.  But with that said, it should bring them down a bit over the next couple of weeks if the economy does continue to slow.  MSNBC.COM has some great articles under their business section and so does SMARTMONEY.COM.

 

Hope all your stocks are skyrocketing!!!

 

Displaying blog entries 141-150 of 301

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