Portland By The Numbers, May 2017

Each month, Realty Trust Group produces seven unique ‘By The Numbers’ reports, featuring up-to-date monthly statistics on the hottest markets and most-active zip codes in Greater Portland, the neighborhoods in and around Lake Oswego and West Linn, and our city’s unique 5 Quadrants.

Contact a Realty Trust Group broker to get your own set of the ‘By The Numbers’ reports for May, or click HERE first to see the May 2017 market stats for Greater Portland saved on my web site.

Graphic for 01 May 2017 BTN

The ‘Next’ Portland?

According to a recent article on FastCompany.com–the on-line edition of the excellent monthly technology, business, and design magazine–Portland is becoming the new measuring stick for all things millennial, starting with hotels.

“They’re searching for what appeals to the millennial market–’the next Portland,’ a once ignored place that, with the right new businesses, can become an edgy-cool destination,” FastCompany.com reporter Rina Raphael wrote in her June 16, 2017 article.

Ace Hotel Pittsburgh

From FastCompany.com: “A century-old former YMCA building is now the Ace Hotel Pittsburgh in East Liberty, a neighborhood referred to as the ‘second downtown.’ [Photo: courtesy of Ace Hotels]”

According to Raphael, “From El Paso to Pittsburgh, cities once considered ‘drive-through’ are undergoing a rebirth, with chic new hotels strengthening local tourism and culture.”

Whether it’s refurbished inns with “industrial chic decor” or revamped athletic clubs more than a century old, these boutique hotels are popping up in unexpected cities throughout the U.S. As Raphael explains in her article, “compared to so-called first-tier cities, land in these areas is relatively cheap, so boutique owners can purchase and refurbish old buildings that have character and history and are cherished by the local community.”

Hotel Indigo

From FastCompany.com: “The 12-story Hotel Indigo in downtown El Paso has helped reinvigorate the area. [Photo: courtesy of Hotel Indigo]”

You can read the entire article on FastCompany.com here.

 


Portland By The Numbers, April 2017

Each month, Realty Trust Group produces seven unique ‘By The Numbers’ reports, featuring up-to-date monthly statistics on the hottest markets and most-active zip codes in Greater Portland, the neighborhoods in and around Lake Oswego and West Linn, and our city’s unique 5 Quadrants.

Contact a Realty Trust Group broker to get your own set of the ‘By The Numbers’ reports for April, or click HERE first to see the April 2017 market stats for Greater Portland saved on my web site.

Graphic for 01 Apr 2017 BTN

Earthquake Preparedness, May 9, 2017

Earlier this week, the brokers and staff at Realty Trust Group enjoyed a very informative class on Earthquake Preparedness taught by Don Francis of EcoTech. As part of our on-going commitment to keep our brokers up-to-date on issues and topics that affect the Portland real estate market, we were very happy to have our friends at WFG National Title bring Mr. Francis to our offices in The Pearl.

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One of the surprising things we learned was that people who had – at the very least – thought about creating an earthquake preparedness plan were more likely to survive an earthquake than those who had no plan at all. Another great takeaway: Use a 5-gallon bucket with a lid to create an earthquake preparation kit. A water-tight bucket can be very useful if you’re forced to survive outdoors for several days or weeks after an earthquake.

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Mr. Francis gave our brokers a full packet of materials with information on making sure a home is quake ready, a detailed earthquake preparation materials list, details on the Cascadia Subduction Zone here in the Pacific Northwest, and a minute-by-minute breakdown of what to expect if we do have a major earthquake. Please call me or a Realty Trust broker today, and we’ll be very happy to share these materials with you.

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Portland By The Numbers, March 2017

Each month, Realty Trust Group produces seven unique ‘By The Numbers’ reports, featuring up-to-date monthly statistics on the hottest markets and most-active zip codes in Greater Portland, the neighborhoods in and around Lake Oswego and West Linn, and our city’s unique 5 Quadrants.

Contact a Realty Trust Group broker to get your own set of the ‘By The Numbers’ reports for March, or click HERE first to see the March 2017 market stats for Greater Portland saved on my web site.

Graphic for 01 Mar 2017 BTN

The Cake Maven of Lake Oswego

Tumpane Cakes

Our own Lake Oswego ‘cake maven’ is at it again. Michele Tumpane recently created a pair of beautiful cakes for the brokers and staff at our L.O. branch offices to enjoy.


Portland By The Numbers, February 2017

Each month, Realty Trust Group produces seven unique ‘By The Numbers’ reports, featuring up-to-date monthly statistics on the hottest markets and most-active zip codes in Greater Portland, the neighborhoods in and around Lake Oswego and West Linn, and our city’s unique 5 Quadrants.

Contact a Realty Trust Group broker to get your own set of the ‘By The Numbers’ reports for February, or click HERE first to see the February 2017 market stats for Greater Portland saved on my web site.

Graphic for 01 Feb 2017 BTN

Are you looking to buy or sell a new home?

If so, there are things to consider in a strong Seller’s Market like the one we’re enjoying here in Portland.

In an article published last month, financial writer Dan Rosenberg tells of a Portland, OR, couple who decided to grab a quick bite after finding their dream home at an open house. On their way to lunch, their broker called to say the Sellers just accepted an offer.

“The housing market appears to be looking good right now for owners, but some challenges exist for first-time buyers or people without bulging pocketbooks,” Rosenberg is quoted in his February 21 article published in TD Ameritrade’s investor newsletter, ‘The Ticker Tape.’

Are you prepared to handle the current trends in this Seller’s market, and the potential impact these trends can have on both Buyers and Sellers? Let a Realty Trust agent help you navigate this Seller’s market if you’re ready to buy or sell you home.

You can read Dan Rosenberg’s full article HERE on TD Ameritrade’s investor newsletter ‘The Ticker Tape.’
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Portland By The Numbers, January 2017

Each month, Realty Trust Group produces seven unique ‘By The Numbers’ reports, featuring up-to-date monthly statistics on the hottest markets and most-active zip codes in Greater Portland, the neighborhoods in and around Lake Oswego and West Linn, and our city’s unique 5 Quadrants.

Contact a Realty Trust Group broker to get your own set of the ‘By The Numbers’ reports for January, or click HERE first to see the January 2017 market stats for Greater Portland saved on my web site.

Graphic for 01 Jan 2017 BTN

Portland’s growing up

Over the last several decades, Portland has grown steadily into the coveted West Coast lifestyle city it always aspired to be, and today’s housing market is a result of that sustained growth. Our market is—and remains—strong. It has fully recovered from the financial crisis of 2009. It has continued nation-leading appreciation, according to the recent S&P CoreLogic Case-Shiller home price index.

Market conditions appear to remain favorable for the foreseeable future, although there are livability factors—such as affordability and homelessness—that if remain unchecked, will affect Portland’s favored status.  Despite these significant issues, our prognosis for Portland’s housing market remains strong.  Our new mayor and city council are focused on housing and working to make Portland more livable now and into the future.

Oregon economic indicators continue to point positive:

  • Oregon was noted as the most economically-improved state in 2016 by the Federal Reserve Bank of Philadelphia
  • Wages have continued to rise since 1990
  • Oregon hit its lowest unemployment rate since 1995 in December: 4.6%
  • Job growth is in a prolonged upward trajectory and our state is now at or near full employment, according to the Oregon Office of Economic Analysis
  • Oregon remains one of the top states in the US for in-migration

Portland retains its favored status on the national and international map:

  • Portland remains the West Coast’s most affordable big city with a median home price of $374,000 vs. $550,000 in Seattle and $1,150,000 in San Francisco (www.trulia.com)
  • Lonely Planet named Portland one of its Top 10 destinations for 2017
  • From Stumptown to PokPok, from jazz instrumentalist and singer Esperanza Spalding to international sensation Pink Martini, our food and cultural scene regularly make headlines

Even in a market grappling to manage major systemic challenges, we see opportunities:

  • Moving Up: Your home is likely worth more than ever before.  There’s greater demand at lower price points, so selling is easier and buying at a higher price point is progressively easier the higher you go.
  • Appreciation: Home values are anticipated to increase by approximately 10% this year, so if you plan to purchase a home and take advantage of this strong market, now is as good a time as any.
  • Rising Rates: Interest rates remain near historic lows, but have risen recently from 3.5% to 4.25%.  Borrowing won’t get any cheaper any time soon, so secure a loan before they rise further.