Portland, Oregon

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April 22, 2011

Portland Real Estate By RMLS Area - March 2011

 

Here are the numbers for the each of Portland Metro Real Estate areas from RMLS for the month of March 2011. All areas had at least a 2% decrease in over the previous 12 months except for Northeast Portland which only had a .04% decrease. 

Portland Real Estate By RMLS Area

Area YTD Avg.
Sale Price
YTD Median
Sale Price
12-Mo. Change Total Mkt
Time*
Lake Oswego / West Linn $386,500 $349,500 -11.0% 232
West Portland & Downtown $378,400 $322,000 -2.7% 164
NW Washington County $325,200 $308,900 -2.5% 150
Tigard / Tualatin / Sherwood / Wilsonville $278,700 $253,900 -5.5% 188
Northeast Portland $261,900 $217,000 -0.4% 130
Milwaukie / Clackamas $239,400 $222,300 -8.8% 113
Oregon City / Canby $211,800 $200,000 -10.7% 182
Gresham / Troutdale $207,000 $174,900 -5.0% 147
Southeast Portland $205,400 $170,000 -2.6% 120
North Portland $203,100 $190,000 -5.3% 148
Beaverton / Aloha $201,800 $182,000 -3.3% 147
Hillsboro / Forest Grove $199,500 $181,700 -11.1% 156
Yamhill County $177,300 $165,000 -2.3% 180
Columbia County $164,300 $155,000 -9.7% 174

The median and average sale prices are year-to-date. The 12-change percentage is a 12-month average compared to the previous 12-month average.

March 2011 Market Summary

  March 2011 Last Month -
February 2011
Last Year -
March 2010
Median Sale Price $215,000 $213,700 $238,900
Average Sale Price $261,100 $244,500 $280,300
Closed Sales 1,615 1,074 1,799
Pending Sales 2,012 1,592 2,402
New Listings 3,056 2,883 4,987
Active Listings 11,458 11,746 14,042
Distress Sales 42% 46%  
Total Market Time * 161 days 177 days 142
Inventory (in months) 7.1 10.9 7.8

 

 

Rich Peralta is a real estate professional in the Portland Metro Area, including Lake Oswego and  West Linn Real Estate.

He can be reached at 503.961.2181 or by e-mail at rich.peralta@exprealty.com

Contact him  for more information on PortlandLake Oswego & West Linn Real Estate!

 

 

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April 22, 2011

What Homeowners Think About Being Homeowners

What do homeowners say about homeownership?

 

While there have been many families that have been devastated by the current economy,but, homeowners have really not wavered in their belief in homeownership as the best long-term investment.  Add in the social benefits of owning a home, it looks like investing in real estate is still a positive.

 

Since the collapse of the residential market in the last five years, experts want to let us know how Americans feel about owning a home.  You hear people say that homeowners must be devastated and feel trapped like prisoners in their own homes.  Homeowners are especially sorry they ever bought the house. While these assumptions seem logical at times, the only people who truly understand how homeowners feel  are the homeowners themselves...

To see what three different studies over the last year have found what homeowners think about homeownership, Click here to read the entire post.

 

 

Rich Peralta is a real estate professional in the Portland Metro Area,  including Lake Oswego and  West Linn Real Estate.

He can be reached at 503.961.2181 or by e-mail at rich.peralta@exprealty.com

Contact him  for more information on PortlandLake Oswego & West Linn Real Estate!

Originally posted on West Linn Real Estate.

 

 

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April 20, 2011

Owning Portland Real Estate Has Social Benefits


A report by the National Association of Realtors identifies homeownership’s numerous social benefits. The report, “Social Benefits of Homeownership and Stable Housing,” cites extensive research showing that homeownership increases civic participation, lowers crime rates and boosts children’s educational performance.

Among other items, the study concludes that owners of real estate:

  • Have a lower  move rate than their renting counterparts.
  • Greater community involvement and awareness.
  • Positive impact on educational achievement .
  • Less likely to become crime victims.

To read the entire post click here.

To view the entire study click here.

 

Rich Peralta is a real estate professional in the Portland Metro Area,  Lake Oswego and  West Linn Real Estate.

He can be reached at 503.961.2181 or by e-mail at rich.peralta@exprealty.com

Contact him  for more information on PortlandLake Oswego & West Linn Real Estate!

Originally posted on West Linn Real Estate.

 

 

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April 20, 2011

Ranking Portland For Crime Rates

 
In a recent report, Portland ranked 227th out of 400 cities for crime rates in 2010.  City Crime Rankings 2010-2011: Crime in Metropolitan America, is a report published by CQPress, a publisher of books and reference publications, that used crime data reported to the FBI to create the rankings.  Portland-Vancouver ranked 140th out of 347 metropolitan areas.
The report analyzed six categories of crime for this study: murder, rape, robbery, aggravated assault, burglary, and motor vehicle theft.
Other Portland Metro Area cities with rankings in this study.
  • Beaverton 50th
  • Hillsboro 66th
  • Gresham 176th
The city with the lowest crime rate on the list is Colonie, New York. The highest crime rate belonged to St. Louis, Missouri.  Looking at the metro areas, the lowest crime rate is Glens Falls, NY & the highest crime rate is Detroit-Livonia-Dearborn, MI.

 

 

Rich Peralta is a real estate professional in the Portland Metro Area,  Lake Oswego and  West Linn Real Estate.

He can be reached at 503.961.2181 or by e-mail at rich.peralta@exprealty.com

Contact him  for more information on PortlandLake Oswego & West Linn Real Estate!

Also posted on Portland Real Estate.

 

 

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April 16, 2011

Portland Real Estate - March 2011 Market Update

The Portland real estate market jumped 50.4% in closed sales for March 2011 compared to February 2011.  Pending sales also increased 26.5% over the same period.  New listings grew from 2,883 to 3,056.

The average sale price this month declined 6.8% compared to March 2010. When comparing February & March of 2011, the average sale price increased from$244,500 to $261,100.

If you take a look at the first quarter of  2011 with the same period (Jan-Mar) in 2010, the data shows that  new listings decreased 29.8% (9,172 v. 13,072).  Closed sales decreased by 1.5% (3,834 v. 3,892) while pending sales went down by 11.9% (4,915 v. 5,576).  The average sale price fell 9.2% ($252,800 v. $278,300), and the median sale price dropped 9.5% ($215,000 v. $237,500).

The biggest bright spot in the Portland real estate market is that March 2011 had a big decrease in inventory.  Down from10.9 months of inventory last month, 11,458 active Portland homes for sale would last about 7.1 months, at March 2011's rate of sales.  The general thought is that six months is a good balance between a buyer’s and seller’s market.

 

To see how last months data looked, click here.


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Rich Peralta is a real estate professional in the Portland Metro Area West Linn Real Estate and Lake Oswego Real Estate.

He can be reached at 503.961.2181 or by e-mail at rich.peralta@exprealty.com

Contact him  for more information on Portland, Lake Oswego & West Linn Real Estate!

 

Originally posted on West Linn Real Estate.

 

[caption id="attachment_1865" align="aligncenter" width="300" caption="To view Portland real estate listings, click on the map"][/caption]

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April 15, 2011

Clackamas

There are several things to do in Clackamas, Oregon but here is just a sneak peek of some of the top items that people enjoy doing. Probably one of the most visited places in Clackamas would be Clackamas Town Center. Clackamas Town Center has been recently remodeled and features over 180 stores, outdoor villages, a 20 screen Century movie theatre, a six level parking garage, and public transportation. It also features popular dining places like Claim Jumper Restaurant and The Ram Restaurant and Brewery.

Probably the second most visited place in Clackamas is right across the street at the Clackamas Promenade Shopping Center. It features over 40 shops, services and restaurants. If you're in the mood to shop, stop by Nordstrom Rack, Kohls, Target, Old Navy, or Verizon Wireless. If you're hungry or thirsty, stop by Starbucks, Red Robin, Chevys Fresh Mex, Olive Garden, or Standfords. You can even stop by the DMV.

Another popular thing to do in Clackamas is the North Clackamas Parks and Recreation District. It offers about 50 parks and greenspace to Clackamas County residents. Along with the natural beauties, it also offers the North Clackamas Aquatic Park with water slides, lap pools and a kiddie pool. They offer year round swimming lessons and open swim times.

Attention golfers, if an 18 hole, Par 3 course sounds appealing to you, then you don't want to miss Sah-Hah-Lee Golf Course. They offer a relaxed and inviting atmosphere for the beginner golfer to the most experienced golfer.

If you plan on moving out of Clackamas, you'll want to call your local neighborhood real estate agent to help you sell your home. And to get you into your new home, the first step will be to get pre-approved by the one of the top ranked lenders in the area Homestreet Bank. And then we will help you the rest of the way!

Posted in Featured, Things To Do
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April 15, 2011

New at PortlandPowerSearch.com

Welcome to our fresh new site design! We continue to be your source for the most up to the minute and insightful information on the market.

As you navigate your way around the site take a minute to note our Portland Real Estate Search where you can find real time property listings information pulled directly from the MLS (Multiple Listings Service), it includes EVERYTHING that is available in the market. You can Save Favorites, Create your own Custom Searches and even set up Showings Appointments with one of our Real Estate Professionals.

If you have an idea of what kind of property you are looking for, we have various request listing information forms you can fill out and one of our agents will put together a Customized Search with all the specific requirements you wish to have in your future property.

In our blog you will find Local News, Events, and Neighborhood reviews. Feel free to Contact Us anytime or leave a comment on one of the blog posts as we encourage interaction between our Clients and our Professionals, we are a full service real estate company.

Consider us your Real Estate Concierge.

Posted in Featured, General
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April 13, 2011

Six Myths About Using a Portland Buyers Agent

What You Really Need To Know About Buyers Agents Before You Buy Portland Real Estate

When talking about using a Portland real estate buyer agents, there seems to be a big gap between perception and reality .  Internet, TV  and other media headlines are just a few sources of confusion. Buyers are also barraged with well-meaning  information from family, friends, and co-workers that presents a distorted or inaccurate view. Most of often this information based on hearsay or partial understanding. With the conditions of the Portland real estate market, it is more important than ever to arm yourself with accurate information and to separate opinion from fact.  A Portland buyers agent can help you get the knowledge you need to have a successful home search and purchase.

Myth #1: Who needs a Buyers Agent to help me find the right home, I can use the internet to view all of the homes for sale with all the current and correct info.

The internet is a great resource for home buyers, and statistics show that over 95% of all buyers browse for homes online. What many home buyers don't realize is that unless they are looking at your buyers agent website or the local MLS the information available to the public on the internet can be both misleading, incomplete or sometimes out of date .

Some website will show properties that already have an accepted offers (pendings) mixed in with those that are fully available (active).  Others may be missing crucial home features may not be displayed - such as short sales,  leasehold homes and association fees.  Photos of houses will show the best features, and eliminate the undesirable ones. You should be asking yourself why, if there is no photo of  a major part of the house, lets say the kitchen or bathroom and 5 different photos of the 3rd bedroom?

It's great to use the internet for pre-screening which houses to walk through but don't presume that you will be able to select the best home to buy without detailed knowledge of the community, sales history in the area, and all the details about the home that may not be available online.  Portland real estate agents who belong to the local multiple listings service(MLS), share their listings with other agents online.  So by using a buyers agent services and their website to help you search  for you home online, you are seeing up to the minute listings and information as your buyers agent would.  Also, buyers agents view the available homes in their market area, and can help you select the best ones that are right for you..

Myth #2: If you wait long enough, the perfect home will fall right into your lap.

Let me state this clearly, there are very few perfect home listed for sale. There are perfect neighborhoods, perfect home styles, perfect curb appeal, perfect layouts, perfect room sizes, perfect lots, perfect building materials, etc.., you get the picture.  But more often than not, all of those perfects will not come together in one house or for the price you are able to pay. Resale homes have history that often includes major repairs, land settling, plumbing problems, leaking roofs, layout issues, and noisy neighbors - you name it.  Brand new homes can also have defects.  Even if you were to build a custom home, unless its an infill lot in an established neighborhood (not going to find that very often), you are only able to build where land is available at that time.

A more productive way to view your home search is to seek a perfectly acceptable home, which means there are going to be a few quirks that you can live with or repair.  During your home search you should make a list of things that you can’t live without and things that are like to haves.  Then prioritize them so its easier to make decisions based on what you need.  Homes, like people, are not flawless but we love and enjoy with them anyway. That said, a good Buyers Agent will help you identify the major issues that may be a deal-breakers, and will It's all about keeping perspective and separating the big picture from the irritating but correctable details.  The right home, in the right neighborhood, with the right layout, etc... is what a buyers agent can help you find.

Myth #3: Use the listing estate agent who is representing the seller on a home you want to purchase to save you money.

Some buyers may be under the misconception that if they use the listing agent who comes along with the house they will have a "package deal" advantage in getting the best price. The reverse is actually true. The listing agent has a prior fiduciary relationship with the seller, who is paying their own agent to get them the highest price. In this situation, you are in "dual agency" and you are on your own with negotiations.

When you are using a Portland buyers agent, they represent you in the deal.  A buyers agent will look out for your best interests and their fiduciary responsibility is to you not the seller.  And to top if off, the sellers’ listing agent is the one who pays the buyers agent fee. In the state of Oregon, real estate agents do a co-broker agreement where the listing agents split their commissions with buyer agents who help to bring buyers to their property's. Its like having a free real estate service on your side as it puts you on a level playing field with the seller who has a professional in their corner.

Myth #4: More agents are not always better.  No need to limit myself to just one agent looking for me.

"I'll work with the buyers agent who finds the right property for me" does not really make sense with you think it through.

First, all the homes available to purchase are in the same MLS data base for all Realtors to access. You will waste your own and their time looking at the same homes with several buyers agents.

Second, some buyer's agents will want you to sign an Exclusive Representation Agreement to establish your relationship and their role in assisting you. Especially if they know you are looking with other agents.  Take time to talk with a few buyers agents and see who you think you might work best with.

Third, it costs you nothing to exercise your right to select the best qualified agent of your choice, to buy any home you want. With your commitment, your agent will be motivated to find you the best property, even if it is not listed.

Myth #5: Forms should be easy to fill out.  No need to read it all.

Big time false.  Buying or selling a home is a detailed legal matter involving enormous sums of money. Home buying is increasingly complex because properties are complicated, people's expectations differ, and neither will easily reveal their true natures.   For these reasons and to make it a legal transaction, all real estate contracts must be in writing.  Buyers agents deal with real estate transactions on a daily basis.  A Portland buyers agent is well versed in the forms that should be filled out, the steps to take and the pitfalls to watch out for.  Never rush into signing a contract you have not read. Prior to signing, ask your buyers agent (in some cases an attorney) to explain the terms to you.  If you have no questions, you probably have not read it!

Myth #6: To get the best deal and avoid hassles on a home purchase, you should deal  directly with the seller.

Since about 95% of homes are listed with a Realtor, you will be severely limiting your home choices if you want to deal with a home owner directly. How are your negotiation skills? Let's say you and can handle the purchase negotiations, contract and paperwork. Do you know what questions to ask the sellers? Will you be able to obtain and interpret the complete, unbiased history of the home? How will you respond to issues that may arise with inspections, surveys, encroachments, disclosures, covenants, etc? Every sale has a few bumps in the road - will your wheels fall off?

Reality Check

There are more myths out there and maybe I will cover them another day.  Like the guys from School House Rock use to say, Knowledge is Power!  When buying a Lake Oswego home, the more knowledge you can attain, the better off you will be in the transaction.  Using a Lake Oswego buyers agent will help you get that knowledge.  Having a professional on your side, at no cost to you I might add, will greatly improve your chances of finding your next home.

 

 

 


 

Rich Peralta is a real estate professional in the Portland Metro Area,  Lake Oswego and  West Linn Real Estate.

He can be reached at 503.961.2181 or by e-mail at rich.peralta@exprealty.com

Contact him  for more information on Portland Real Estateand Lake Oswego Real Estate!

 

Originally posted on West Linn Real Estate.

 

 

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April 8, 2011

Portland Real Estate Weekly Market Report - April 4th 2011

An Updated Report for Portland Real Estate for Single Family Detached Homes for Sale from April 4, 2011

The median list price in Portland, OR this last week is holding at$259,900.  The per square foot asking price stays put at $143 per square foot.  48% of listings had a price decrease and 19% reset their DOM (Days On Market) by re-listing.  The average DOM was down to 174 days.

Median home specs are as follows; 2014 sq foot home with 3 beds, 2 baths on just under 6500 sq ft lot.
282 new single family detached homes for sale in the Portland real estate market this week with 147 homes  being absorbed.  This brings the active listings to a  total of 3219.

The most expensive 25% of listings have a median home price of $579,250.  The median specs for these homes are 31 years old with 3294 sq ft, 4 bedroom and 3 baths on just under 6500 sq ft lot.  There are 67 new listings  with only 27 being absorbed in this range of Portland real estate bringing the total at 804.  The Portland homes for sale in this range have an average days on market(DOM)  of 190 days.

While the lease expensive 25% of  listings have a median price of $139,900 and have an average DOM of 165.  This range of Portland homes for sale are on average of 57years old on just under 6500 sq ft lot, 1200 sq foot homes with 3 beds and 1 bath.  56 new listings came up with 38 being absorbed bringing the total to 805 in this range.

Data from Ticor Title - Lake Oswego.

 

Rich Peralta is a real estate professional in the Portland Metro Area,  Lake Oswego and  West Linn Real Estate.

He can be reached at 503.961.2181 or by e-mail at rich.peralta@exprealty.com

Contact him  for more information on Portland Real Estateand Lake Oswego Real Estate!

 

Originally posted on West Linn Real Estate.

 

To view Portland real estate listings, click on the map

 

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April 5, 2011

Oregon Law Requires Carbon Monoxide Alarms

As of April 1, 2011 the new carbon monoxide alarm law took effect. This new law could effect your Portland real estate transactions going forward.   If you have a Portland metro area home for sale with a carbon monoxide source, you need to have a carbon monoxide alarm installed before you can transfer title.
Here is the law as its is written
837-047-0120 - Carbon Monoxide Alarm Requirements
(1) Properly functioning carbon monoxide alarms shall be required when:
(a) A person conveys fee title to a one and two family dwelling or multifamily housing containing a carbon monoxide source on or after April 1, 2011; or
(b) A person transfers possession under a land sale contract of a one and two family dwelling or multifamily housing containing a carbon monoxide source on or after April 1, 2011; or
(c) A person transfers ownership of a manufactured dwelling containing a carbon monoxide source on or after April 1, 2011; or
(d) A landlord enters into a rental agreement for a dwelling unit containing a carbon monoxide source on or after July 1, 2010.
(2) By April 1, 2011, every rental dwelling unit subject to these rules must contain properly functioning carbon monoxide alarms.
 
What is carbon monoxide?
It is an invisible, odorless, colorless gas created when fuels, such as gasoline, wood, charcoal, coal, natural gas, propane, oil, kerosene, and methane burn incompletely.
Why is carbon monoxide harmful?
It displaces oxygen in the blood and deprives the heart, brain, and other vital organs of oxygen. The molecules attach to your red blood cells more easily than oxygen molecules, depriving oxygen from getting into the body. This may damage tissues and result in death. Especially at risk are: Unborn babies, infants, older adults, people who smoke & people with chronic heart disease, anemia, or respiratory problems
Where does carbon monoxide come from?
Carbon Monoxide comes from heaters, fireplaces, furnaces, appliances and cooking sources using coal, wood, petroleum products, and other fuels.  Products and equipment powered by an internal combustion engine, such as portable generators, cars, lawn mowers, and power washers also produce carbon monoxide. Car exhaust in an attached garage may leak carbon monoxide into the house even with the main garage door open, putting you at risk for carbon monoxide poisoning. Operating equipment inside an attached garage increases the risk of introducing of carbon monoxide into a living space. 
Why should my home have carbon monoxide alarms?
According to the Journal of the American Medical Association, approximately 2,100 people die from carbon monoxide poisoning every year in the United States. There are more than 10,000 injuries annually from carbon monoxide.

What are symptoms of carbon monoxide poisoning?

Initial symptoms are similar to the flu, but without the fever: headache, fatigue, shortness of breath, nausea, dizziness, skin may turn bright red.
Severe symptoms include: confusion, vomiting, loss of consciousness or loss of muscular coordination.

 

 

 

 

Rich Peralta is a real estate professional in the Portland Metro Area,  Lake Oswego and  West Linn Real Estate.

He can be reached at 503.961.2181 or by e-mail at rich.peralta@exprealty.com

Contact him  for more information on Portland Real Estateand Lake Oswego Real Estate!

 

Also posted on Lake Oswego Real Estate.

 

To view Portland real estate listings, click on the map

 

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