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Market Conditions by Mike Hasson

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Beginning in 2013 and through the first few months of this year, Oregon and SW Washington’s housing markets changed significantly. A lack of inventory along with historically low interest rates and rising consumer confidence provided the “perfect storm” to finally pull prospective buyers off the sidelines and into the market. A “seller’s market,” often resulting in multiple offers, quickly replaced the “buyer’s market” of the previous five years.

That said, I do believe that in many areas we will soon see data supporting a subtle change in market conditions. An increase in inventory due to more sellers having equity once again and an uptick in interest rates means prices will stabilize. Buyers will sense an opportunity to be more selective and their sense of urgency to buy will dissipate as inventory grows. As their options increase, the buyer mentality of talking themselves into a property because “it will be gone tomorrow” switches to “well, if the perfect home is not here today, it will be tomorrow.”

Due to these changes in factors that influence the market, it is very important that listing agents and their sellers pay close attention to what today’s market is suggesting and how it may affect their pricing strategy. I strongly suggest that agents reach out to their clients to help them understand the changing market and how it may impact their future plans. We cannot control market conditions, but we can and should be providing value to our clients by communicating with them on a regular basis – and that should include a discussion of today’s market, which could be a very different conversation that just a few months ago.

Mike Hasson

 
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Posted by on August 27, 2014 in Uncategorized

 
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House Numbers – June Sales Stats

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Posted by on August 15, 2014 in Uncategorized

 

Home Truths

This month we talk with Carley Kahn, who launched her eponymous line of textiles and accessories in 2012, about her design background and her home.

How do you fill your days?
I start my day with a cup of coffee and then take my pooch, Linus, on a long walk. Working from home, it’s hard to keep regular business hours but I try my best. I like to work on new patterns in the morning when I have the most energy. After a healthy lunch, I spend my afternoon on administrative tasks, such as email correspondence, web site maintenance, shipping out orders, etc. I stop working when my husband gets home so I can enjoy the evening with him.

What drew you to textile design?
I initially studied to become a graphic designer. While I was in school, I opted to partake in a study abroad program in Copenhagen, Denmark. It was there that I was first introduced to textile design. I fell in love with designing repeat patterns and pursued a career in textile design upon graduation. I find myself in the home textile industry because I love the tactile nature of fabric and the fact that people can live with my products in an integrated way, as a part of their daily surroundings.

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Your favorite place in your home?
The back patio. My husband and I love to be outside, and the covered patio allows us to enjoy our backyard from Spring to Fall. We have a native garden, attracting lots of birds and butterflies, so it’s a peaceful place to have my morning cup of coffee. It’s also great, intimate space for entertaining and BBQing with friends and family, and for enjoying a nice fire in the chimney.

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If you were going to buy your home one gift this year what would it be?

An irrigation system! We move around sprinklers to keep the garden watered in the summer months, but it would be nice to have a more automated system.

When you think of summer in Portland, what comes to mind?

The beaches on Sauvie Island. Evening bike rides. Berries galore. Hiking, camping and s’mores!

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New listing: 1926 W Burnside, Unit 607

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1926 W Burnside Unit 607, Portland OR 97209

ML# 14246993

Priced at $265,000

1 Bedroom

1 Bathroom

Sqft: 721

Taxes: $2,971.45

Schools: Chapman, West Sylvan, Lincoln

Ideally located in the middle of the NW, downtown and Pearl, this gently-lived in loft-style condo enjoys expansive easterly views from a wall of windows and a juliet balcony. Steps from the Max, with a deeded parking spot and a 24-hour concierge, this is quintessential urban living. LEED Gold building.

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Posted by on July 16, 2014 in Uncategorized

 

May House Numbers

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May’s sales stats are in and the market continues to rise upwards. New listings, pending and closed sales are all up on April but pending and closed sales have slipped a little on May 2013. Inventory continues to be very tight at a tiny 2.8 months. All figures were provided by the RMLS.

 

 
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Posted by on July 3, 2014 in Uncategorized

 

Home Truths

Aaron and Cara Lutze

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What’s your 9 to 5?
I work for Red Bull as the Field Marketing Manager for Oregon, Idaho and Montana – based out of our Portland office. My wife Cara works at Adventist Hospital as a Hospitalist. 

Working for Red Bull, you have been involved in some pretty amazing events. What’s been your favorite? 

It’s impossible to narrow it down to one event, but Red Bull Flugtag is always a fun event to put together. The excitement from everyone around the event is contagious, and the creativity that the teams put into each craft is incredible. My other favorite is an event that I did in San Francisco (prior to taking the job in PDX) called Red Bull Ride + Style. We brought in artists from all over the world to paint bike ramps – then held a fixed gear bike contest (race and freestyle) on the course.

We’ll get to the yard in a minute! What’s your favorite room in your new home?

Cara and I both love the kitchen. When we walked into it during the showing, we instantly looked at each other and said “this is it”. The kitchen is huge and has plenty of room to entertain – but it also connects directly to every other room on the main floor – so it ties the whole house together really well. We also share prepping/cooking duties at dinner, so there is enough room for us to both move around the kitchen without getting in each others’ way.

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One of the more unusual requests we’ve had from a client was your need for enough room in the back yard for a pump track. Tell us about that.
For the uninitiated, a “pumptrack” is a dirt course that you can ride your BMX or MTB bike around – and the idea is to “pump” your bike, instead of pedaling it. By pumping, you create speed, and if you can create speed without pedaling, you’ll be that much faster on the bike when you actually do decide to push the pedals. I used to be a professional mountain biker, and previously owned a house in North Portland where we built a much smaller pumptrack. I knew that my next house needed to have one. It’s an easy way to sneak in 15-30 minutes of exercise – or a good excuse to have a bunch of friends over for a weekly BBQ/riding session. I knew that Cara and I had really similar desires for the actual layout and style of the house, so I exchanged my input about the house and just said, “the only thing I care about is having a yard big enough for a pump track”. I think it worked out well – we got exactly the house we wanted, and we have a great place to ride in the backyard!

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Summer is around the corner. What are you looking forward to?
Riding the pumptrack, obviously! We also have a little girl on the way, who will be born in August! We found out that we were pregnant on the same day that our offer was accepted, so this home will always have a special story to go with it, even if there wasn’t a pumptrack in the backyard. :)

 
 

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New Listing: 2127 NW Irving Street, Unit 205

2127 NW Irving Street - Unit 205 - Portland-01

2127 NW Irving Street Unit 205, Portland OR 97210

ML# 14312219

Priced at $249,900

1 Bedroom

1 Bathroom

Sqft: 836

Taxes: $2,692.43

Schools: Chapman, West Sylvan, Lincoln

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Spacious light-filled one bedroom condo, with high ceilings, in the heart of Nob Hill steps from stores, bars and restaurants, and a short walk to the Pearl. Easy access to downtown and the Max via bus or Streetcar.

Large bedroom with pocket doors opens out to the living/dining room and on to the recently remodeled kitchen with updates including granite counters, cabinets, tile and appliances. The bright airy bathroom boasts a claw foot tub. Laundry and private storage unit in the basement. With eye-catching curb appeal and a pride-of-ownership that is clearly evident, this building is an absolute treat. Walk Score comes in at 98!

 
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Posted by on May 14, 2014 in Condo, NW Portland Homes

 

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