The Portland Market is Up ! No It’s Down ?

No kidding folks it almost depends on who you talk to. Truth be told the market is doing pretty well here in the Portland area even though the numbers are slightly down from previous years. For the most part we have weathered the battle pretty well.

Of course the Portland Oregon is a pretty spread out area with many small towns just on the edge of the city limits. Some of these areas have been effected a lot more than the inner city.

For a snapshot of what is going on in some of the Portland Metro Areas stop by THE_PICKLE today for a partial Market Report.

I Saw It Coming

It’s Really Pretty Simple. At least that is what all of the Corportations preparing to shut down operations here in the good old US of A were saying to us all. “ Americans want and deserve cheaper priced goods. Don’t you think that developing countries deserve a helping hand up? “ 

All the while they were foecasting reccord profits for themeselves knowing full well that eventually it must all come to an end. Yet there are huge profits to make now. Why rock the boat? Well that boat has sailed and docked at our port. Now what do we do with it? Today on THE PICKLE !  It’s_Really_Pretty_Simple

The Confused Dog Look

I had recieved an email in response to an internet add for Portland Oregon Properties for sale. The properties sounded pretty good and they were in an area that I like very much.

What was odd though was the Internet add did not identify any real estate company. Perhaps this was an Investor dumping properties? Or perhaps this was a SCAM ! Hijack or Scam, something did not smell right. Today on the Pickle!

The_Confused_Dog_Look!

Becky The Bomb

Do you over promise and under deliver? Sucessfull companies employ sucessfull people. The back bone of any great company can be broken by CEO’s or by the lowest man/woman on the totem pole.

Today on The_Pickle it still puts a smile on my face when I think about it. Guess she never learned the lesson about under promissing and there by over delivering. Check it out www.realestatepickle.com

Short Sales and Foreclosures

Short sales and foreclosures in Portland Oregon are a fact of life. There are many factors that can lead you down the path towards a short sale or foreclosure. Some paths are created by others. Some may be of your own doing. Joe and Rita not only created that path they made sure the path was full of bumps and pit-falls along the way! Today on THE PICKLE ! Who_Loves_Short_Shorts

To Advertise or NOT ? Whats the Point!

Those of us who are in business for ourselves frequently fall prey to many sorts of advertising schemes. Advertising is important and has its place yet most of us do not know how to effectively use advertising to our advantage.

Perhaps it is because we can’t answer this simple question. ” What’s the Purpose of Advertising ? ” The_Pickle_has_the_rest_of_the_story!

Real Estate Flips are Alive in Portland Oregon

Much has been said about the demise of the Flip Market. Yet it appears not to be the case in Portland Oregon where flip projects are going on throughout the city. Such as this future flip that I previewed on Sunday.

Clinton Street Fixer Upper in Portland Oregon

A client of mine M called me a few months back about a Fixer Upper in the Clinton Street area. Now any one who knows anything about the Clinton Street area knows that it is a very sought after area full of trendy hang-outs and just a very pleasant neighborhood full of old world charm that Portland’ers have come to love.

The Home that M was talking about had been in probate for the last several years as the Estate moved to settle its affairs. Finally it appears as if they will be ready to sell. We were to meet there for a property tour on Sunday.

And what a grand old house it was. The representative of the estate was there and just motioned for us to go on through as he was busy answering questions in the kitchen.

My client and I knew from those first few moments that this was indeed a great home to work on having 6 areas that could be called bedrooms, Hardwoods on the main floor and Fir Upstairs. A full basement with adequate head height  and a fairly new foundation nice and dry even after all of the rain we have had.

Upon completion of the tour we went back to thKitchen to engage the executor. He was still talking to the young man with the two small children. After hanging out for an additional twenty minutes and watching as others filed through and waited and then left it was apparent the executor was no sales man. Legitimate buyers were allowed to leave as he spent all of his time telling the story of the homes history to the young man who had no ability or intention of buying the home.

We left as did the others with our questions unanswered. Was a sweet house though. Perhaps we will do better by email. Or perhaps the house will go on and on forever as to me it seemed as if the executor was more interested in telling the story of the homes history than that of making the sale.

Da Tung & Xi’an Bao Bao

Portland Oregon’s public art exhibition is always expanding. In 2002 according to the plaque mounted at the foot of this fabulous Bronze Mr. Huo Baozhu of Xi’an China as a gesture of goodwill and as evidence of his believe in the importance of cultural exchanges.

The Sculpture is about 16 times larger than the original Shang Dynasty ( circa 1200-1100 BC ) wine pitcher. It depicts a young elephant standing peacefully on his Father’s back and symbolizes the safe and prosperous offspring.

Da Tung may be translated as ” Universal Peace ” or ” Large Bronze ”. Xi’an Bao Bao means ” Baby Elephant “ This wonderful Bronze is aproximately 10′ tall and 10′ long and may be viewed in one of Portland’s downtown parks. This one is on the Park Blocks in NW Portland’s Pearl District.

Da Tung & Xi'an Bao Bao a Bronze in Portland Oregons Pearl District

How Many Homes are Too Many to See

The old ways are not always the best ways. Years ago the prevailing wisdom was to not show more than 3 to 4 homes at a time without a significant break.

Technology though has aided Real Estate Agents and Buyer’s alike. More often than not a Buyer will already have made several decisions about homes they would like to see on their first outing.

What with time constraints being what they are in every ones busy lives today this really works well for what I call ” The Whirl Wind Tour ” .

During that first day of showing I will drive by and show as many properties as I can. Often times upwards of 20 or more. Of course these are homes that I have personally previewed at least from the outside before I take my clients on this Real Estate Adventure.

Subsequent showings on follow-up days I limit to 3 or 4 homes generally because I have paid attention and have been able to pinpoint my clients needs in a home.

Showing properties in this manner means that the total number of outings that will produce a home that you want to buy normally in less than 4.

Any time longer than that is really not necessary and generally means that either you do not know what you want or that you are a procrastinator with strong reservations about pulling the trigger.

The downside to most people who spend to much time looking for property is that most often they conclude that there are no houses for them and do not buy.

Let_Your_Next_Portland_Oregon_Home_find_YOU!

Portland Real Estate Buyer’s Wait or Buy ?

There has certainly been a lot written about the housing industry in the last year or two. So much so it is difficult for the consumer to make a rational choice. The fear of making the wrong decision is such a great burden that most will choose to do nothing.

Is this however the right choice for you? In Portland Oregon we have enjoyed over the many years a strong real estate market that supports a modest yearly increase in home values. Generally it runs around 6 %. The last couple of years however have ran at about 14%. For some area of the country these numbers would be considered very low. In some markets they have seen appreciation rates rise as high as 50% in as little as 6 months.

The pitfalls of an expanding market in the double digits is that it tends to produce wild speculation. Often times a feeding frenzy much like Auction Fever will follow causing buyer’s to bite off more than they can chew based on the anticipation that the market will continue to expand and that they will all look like geniuses down the road.

Of course we all know that nothing can go up forever as is now being born out in today’s real estate market. In those markets that experienced the high double digit moves, many are now in decline. Some in a severe decline. For those that experienced modest improvements much like Portland the decline is not one of value but one of speculation.

In the past if a Portland property’s market value was determined to be $300,000, Seller’s and their Real Estate agents might speculate that they could get as high as $365,000 as the market was expanding at a rapid rise. Today’s agents know that in this market place following that strategy is a formula for disaster. Today’s properties must be offered at value. If you want to give yourself an edge you should strongly consider a market price lower than market value.

Other wise you may wind up as one of the many owners whose properties sit and sit taking price reduction after price reduction and finally end up as an expired listing.

Does this then make it a good time to buy or not? It is the perfect time to buy. What better time is there when the market is not expanding at double digits and there is a lot of product on the market to choose from. Currently we are running at about 7% increase in the median homes sales price over the last 12 months. That is a slight improvement over the last two months. Is this a signal that we are beginning to make that push back up the ladder to the double digits. Perhaps not right away but one thing is certain, much like nothing goes up for ever similarly nothing goes down for ever.

To find out what the market is like in your favorite neighborhood be sure to sign up for  House_Hunt_Portland where your next home finds you. Your free daily emails will arive at around 5:30 am every morning. Property matches will include Full Listing details with Photo’s and the Address.

Come read about Dawn_and_Andy’s_Home_Buying_Success_Story_Using_House_Hunt_Portland