Rob Levy
Displaying blog entries 201-210 of 301
Submitted by Sandy Morely
Portland is great for many things - especially the assortment of Farmer's Markets! Please click on the image below for a clear view of our monthly postcard. We sent this mailer to our clients for the month of May listing the local farmer's markets!
Submitted by Bruce Hecht
I found this great article by Dean Treftz from The Wall Street Journal Online to be very interesting discussing the national and local market trends.
The housing news isn't all grim. Even as prices sag nationwide, there are several cities in the country where home values are climbing smartly.
Portland, Oregon, Boise, Idaho, Seattle, Salt Lake City, Houston, Austin, and Charlotte and Raleigh, N.C., are among the cities bucking the national trend. Homes' appreciation there between the fourth quarters of 2005 and 2006 far exceeded the national average of 5.9%, according to the Office of Federal Housing Enterprise Oversight.
"All real estate is local, despite the headlines," says Lawrence Yun, the senior economist for the National Association of Realtors. Nationwide, the median existing-home price fell 1.3%, to $212,800 in February from $215,700 in February 2006, according to preliminary NAR statistics.
Most of the cities also have one or more strong industries to drive their economies, like Nike, Columbia Sportswear, Intel just to site a few examples. Their economies are strong and housing prices are still perceived as affordable, luring buyers into the market.
Today's declining prices nationwide are in part the result of an earlier explosion of short-term investors in Florida, California and other booming markets. Recently, both investors and long-term homeowners have been cashing in or cutting losses in formerly hot markets and settling in areas that avoided the boom, such as the Carolinas, parts of Georgia and Tennessee, areas of Texas, the Western mountain states and the Pacific Northwest. The growth of Portland, Salt Lake City, Boise and Seattle can be attributed in part to an influx of former Californians and people opting out of slumping Las Vegas or Phoenix. The trend may have created smaller echo booms.
While some experts worry that a new group of states could face a boom/bust cycle, local real-estate agents and expert economists predict stable and steady growth for the near future. Since the cities have strong economies and builders, lenders and investors are increasingly cautious, homes are less likely to become extremely overvalued than in booming markets in the first half of the decade.
On Sunday 60 Minutes, one of the most respected names in television journalism history produced one of the most one sided, articles I have ever seen. As a long time viewer and admirer of the show, I was shocked at what they did. I have listed the information I and others - including the National Association of Realtors (NAR) - feel they have done wrong...
All I can say at this point is there is always a need for all type of companies in helping consumers buy and sell real estate, and I for one welcome them. But whats fair is fair, and 60 minutes needs to present BOTH sides of the story.
Here are some examples of the misinformation:
Error: The six percent commission is "sacrosanct."
Fact: All commissions are negotiable. The average commission rate is not 6 percent, but 5.1 percent, according to Real Trends, a national industry magazine.
Error: NAR is the industry's "governing body."
Fact: NAR is a trade association. It does not govern the industry.
Error: In 2003, NAR issued new rules of its own that threatened to block Internet discounters' access to the MLS.
Fact: The Virtual Office Website policy did not block access to MLSs for discounters or any other brokers who are members of the MLS. Discounteres listings ARE shown in the Portland MLS
Error: The MLS is the database that lists virtually every home for sale in the country.
Fact: There is no single national MLS. Rather, there are more than 900 local and regional multiple listing services. These are not simply "databases" but private exchange of offers of cooperation and compensation between real estate brokers.
Error: Eight states have "minimum service laws" that require REALTORS® to provide a level of service many Internet discounters can't afford.
Fact: "REALTOR®" is a trademarked term and should never be used synonymously with "real estate agent." The intent of minimum service laws is to ensure consumers receive a minimal level of service from licensees.
Error: The brokerage industry has a powerful lobby. Eleven states flatly prohibit rebates.
Fact: The intent of anti-rebate laws is to prevent kickbacks in real estate transactions, not to limit brokers' incentives to attract customers. The brokerage industry does not lobby for anti-rebate laws.
Other key points 60 Minutes misrepresented or overlooked:
Submitted by Kate Baldus
Yesterday couldn't have been any better! One of the agents in our Prudential Northwest Properties West Portland branch brought in five very special friends yesterday: Miniature Shnauzers. Our whole team had to take a quick break and jump on the opportunity to hold these four week old puppies. They were absolutely adorable and brightened everyone's day. Rob - our spirited team leader - had a Schnauzer named Steffi (after Steffi Graf) for eleven years. These pictures were taken in our office while we each had a chance to hold the puppies. Four sisters and one brother (Dillon - my favorite!) I might just have to take one of these home with me - then I can go exploring in the Portland Dog Parks.
Submitted by Sandra Hanis
The city's first Rose Festival Parade happened in 1907 following the success of the Lewis and Clark Exposition of 1905. It was decided in 1907 that the city should have a month long Festival of Roses.
For those who have never gone to a Rose Festival Parade, one of the top 5 parades in the nation says USA Today, this could be the perfect year to start your tradition. When I decided to go, I didn't camp out overnight or elaborately tie off my spot on the parade route. I hopped on the light rail moments before the parade was to start….grabbed a cup of coffee on my way and enjoyed the infectious enthusiasm of the crowd. You really do feel like a kid again at a parade!
Why not invite a new Portland resident to go with you! You can check out the Rose Festival calendar on-line for the June long festivities
and enjoy visiting in the land of Rosaria for the month of June!Many economists and real estate experts link the buying habits of "baby boomers" and investors, to the demand for homes in this country. They argue that the population will stabilize or decline as these potential buyers age and their children are grown.
What is left out of such a picture is that the emerging real estate market is made up of people who are immigrating to this country. It is also made up withinvestors wanting to try to establish and build their portfolios. When these newcomers have achieved a stable income, they look for the best living situation they can find, often preferring buying to renting.
Real estate continues to be an attractive investment opportunity. If you are sitting out the current market because you are afraid that the appreciation won't continue, you may want to re-think your decision. Today's market is providing opportunities for homeowners and smart investors from all over the globe. Buy now and reap the benefits of appreciation .
Submitted by Sandra Hanis
Buyers agents are often confronted with the issue of lead based paint in homes built before 1978. We find that buyers in the Northwest are typically not overly concerned with the issue and most people who are looking at older homes are aware that it will be an issue in their purchase. I have had buyers do their own testing ( not always effective) or you can employ many accredited lead based paint inspectors. This inspection is not usually part of the standard home inspection. An excellent source of information is available at our links at www.roblevy.com.
This source tell us that 2/3 of homes built before 1940 and 1/2 of the homes built from 1940-1960 probably contain lead paint on the interior or exterior. Some homes built after 1960 also contain lead paint. In 1978 the product safety commission mandated only a trace amount to be acceptable in paint manufacture. If there will be infants or pregnant women in the home, it is a good idea to have it tested before removing or disturbing the paint surface. It is often thought that painting over the surface will contain the paint and that is not true. The old paint can loosen and release lead dust. The most important thing is to be aware that it can be a hazard though something that can be dealt with in an effective way with little knowledge and care.
Submitted by Sandy Morley
The skyline of Hillsboro may see a change if condos 20 stories tall are developed in the next 20 years. The city is already recognized for Intel's Ronler Acres campus, Orenco Station and Tanasbourne shopping helping Hillsboro win "Best New Suburb" by Sunset Magazine. Planners envision developing the area south of Northwest Cornell Road as the new hot location for high-income singles and two-member households who prefer not to live in Portland.
Many major cities have suburbs of this scale although Portland is not usually considered for this type of development. Initial plans show as many as nine 20-story buildings and a number of smaller towers housing condos, retail, office space and research centers located around a 35-acre park. Imagine a "Pearl District" for the suburbs with transportation, upscale livability and many neccessities within walking distance.
With the opening of a new Genentech Inc. location and a handful of other big name companies city planners estimate 7,000 to 8,000 new jobs in the Hillsboro area and over 270,000 new residents to move to Washington County in the next 25 years.
Today I took a phone call from a prospective buyer looking to move from California to Hillsboro to work for Genentech. The timing of her call and the Sunday Oregonian's article on the possible new Hillsboro development may be a sign that Hillsboro could be the next hot place to buy! While we may not know for another 25 years if it happens, it will be interesting to see a suburb develop that could be the first of many for large cities across the nation. Once again the Pacific Northwest is embracing new ideas and leading the nation as the best place to live! Okay - maybe that is just my opinion :)
Displaying blog entries 201-210 of 301
