SuperBite Replacement Bistor Agnes Now has an Opening Date

Greg Denton and Gabrielle Quiñonez Denton
Dina Avila/EPDX

Bistro Agnes, the much-anticipated French restaurant from James Beard Award-winning duo Greg Denton and Gabrielle Quiñonez Denton, is set to throw open its West End doors tonight.

As reported by PoMo, the chef-owners (best known for Ox) have confirmed Thursday January 18 as the opening date for the Parisian bistro, which is set to take over the pair’s previous restaurantin the same space as the small plates oriented SuperBite, which they shuttered at the end of December.

PoMo also teases the menu for Agnes, which leans heavily into “old-school French comfort food”, in Denton’s words. Items like cassoulet, steak-frites, tartare, and profiteroles scream French classicism, although it’s not all oh-là-là-tellement-français — there looks to be some hybrid items, such as a cheeseburger, albeit one with truffled Bordelaise sauce.

Bistro Agnes will start out as a dinner-only establishment, open seven nights, with lunch slated to be added after opening.


Posted on January 19, 2018 at 8:12 am
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Home Equity Hits Record High, and Here’s How Homeowners are Spending It

Home equity hits record high, and here’s how homeowners are spending it

  • Remodeling spending topped $152 billion in 2017, and is forecast to increase in 2018.
  • Homeowners are using home equity cash to pay down other debt in order to lower monthly payments.
  • But homeowners are increasingly taking the cash out to make more cash.

An aerial view of a retirement community in Central Florida

Home equity hits record high  

Homeowners are racking up record amounts of home equity, thanks to fast-rising values in today’s competitive housing market. No surprise, more people are now starting to tap that cash. What are they spending it on? Mostly making their homes even more valuable.

Renovation spending is soaring, and 80 percent of borrowers taking out home equity lines of credit say they would consider using that money to renovate, according to a survey released in December by TD Bank.

“We’re not only seeing more requests for proposals, but more committed projects from home owners,” said Steve Cunningham, a remodeler from Williamsburg, Virginia, in a report from the National Association of Home Builders. “In addition to regular updates and repairs, there’s been an uptick in more ambitious large remodel requests.”

Remodeling spending topped $152 billion in 2017, and renovations for owner-occupied single-family homes will increase 4.9 percent in 2018 over 2017, according to the NAHB. That does not include remodeling done by investors looking to flip or rent properties, both of which are increasing as well.

A home improvement contractor works on a house in Cambridge, Massachusetts.

Suzanne Kreiter | The Boston Globe | Getty Images
A home improvement contractor works on a house in Cambridge, Massachusetts.

“Below-normal rates of home building are creating an aging housing stock,” said Paul Emrath, vice president of survey and housing policy research at the NAHB. “Factors inhibiting stronger growth include the ongoing labor shortage and rising material prices.”

An older housing stock, combined with not enough new homes being built, means more people will choose to renovate.

Homeowners are also using home equity cash for education expenses and to pay down other debt in order to lower monthly payments, but there is a new and increasingly popular use: taking the cash out to make more cash.

“Essentially there is a confidence from some homeowners in the overall market that indicates to them that they can generate a return on their money at a rate greater than the cost of borrowing it,” said Matthew Weaver, vice president of sales at Finance of America Mortgage.

He also said there is now a strong confidence among borrowers that home values will continue to rise, making it less likely that borrowing against their homes even more will not end up putting them underwater on their mortgages in the future.

For some that means investing in the stock market. For others it is buying more real estate. Rental demand is still very high, especially for single-family homes, and a new breed of rental management and investment company is making it much easier to become a landlord.

And of course, “Some are looking to profit from the popularity of cryptocurrencies such as bitcoin,” added Weaver.


Posted on January 17, 2018 at 7:08 pm
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Incredible Remodel in Portland Heights


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NEW LISTING | The Elizabeth Condo #1307


Posted on January 12, 2018 at 6:12 pm
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Open this Saturday and Sunday 12 PM – 2 PM | 1708 SW Hawthorne Terrace


Posted on January 12, 2018 at 6:10 pm
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Portland home-sellers must disclose home energy score under new city mandate

A for-sale sign in front of a house in North Portland.

A requirement that Portlanders selling their houses disclose the results of a home energy audit took effect this week, though it appears to be off to an uneven start.

The requirement, approved by the Portland City Council in 2016, is intended to give buyers a better idea of their maintenance costs in the long run. It’s modeled off programs in cities including Austin, Texas; Berkley, California; and Boulder, Colorado.

It requires many homeowners to have their homes scored on a 1 to 10 scale, as well as disclose the estimated annual energy use and cost, before putting it on the market. (The policy applies to single-family houses and any housing unit that occupies the entire space from the foundation to the roof, like townhouses and certain condos.)

That information must be disclosed in listings and the audit results made available at open houses and in-person showings. The city may exempt certain low-income households, as well as households in foreclosure or other financial distress.

The disclosure requirement was off to a slow start after taking effect Monday. Many new online listings within the city limits lacked the home energy score. (Homes on the market before Jan. 1 weren’t required to obtain a score.)

Andria Jacob, the senior manager for energy programs at Portland’s Bureau of Planning and Sustainability, said the city would be monitoring new listings and contacting brokers when their listings lacked the disclosure.

“We’re expecting it to take a little bit of time,” she said. “Our plan is not to come out swinging a heavy stick right away.” The ordinance allows for fines of up to $500.

The 10-point rating system was developed by the U.S. Department of Energy, with a score of 5 representing the average U.S. home. A house that scores a 1 is estimated to use more energy each year than 85 percent of homes, while one that gets a 10 is expected to use less energy than 90 percent of homes.

The scores are based on a home’s size, its heating and cooling systems and its insulating features.

The city has contracted with Earth Advantage, a Portland nonprofit, to oversee the program. The scores are determined by energy assessors certified by Earth Advantage; many are home inspectors, while others are affiliated with contractors that do energy retrofits.

The Portland Metropolitan Association of Realtors opposed the measure, arguing it would add to a seller’s costs without meaningfully changing buyer behavior. Real estate brokers aren’t totally in agreement about that, however.

“Of course it’s going to be a bargaining chip that will help certain people make a decision,” said Annie Rose Shapero, a broker with Oregon First Realty. “But it’s also going to help those people who are more financially vulnerable make a decision about which probably is going to give them the most security as far as their future utility bills.”

And while homeowners have always considered the potential resale benefits of installing new hardwood floors or updating appliances, the return on energy-efficiency improvements has never been very clear because they’re rarely featured in listings. A required rating could change that.

“We’re helping change the conversation,” said Hilary Bourasa, a principal broker with Meadows Group Inc. Realtors. “It’s taking the focus away from granite countertops and stainless-steel appliances and putting it on housing affordability.”

In the handful of days since the program took effect, some real estate brokers have complained that scores are coming in low, or include inaccurate information.

Mark Wheeler, the owner of Roots Realty in Southeast Portland, said an energy score audit of one client’s house failed to include a high-efficiency furnace. The clients are selling because they can no longer afford the home, he said, and the prospect of spending more money or losing prospective buyers is an added stress.

“If my clients had spent $250 on doing some actual energy improvement on the house I’d feel good about that,” he said. “But they spent $250 on a flawed piece of paper.”

Jacob, the city’s energy programs manager, said Energy Trust would be auditing 5 percent of the completed energy scores to ensure they’re accurate.


Posted on January 10, 2018 at 11:35 pm
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NEW PRICE | $890,000 | The Eliot Condominium


Posted on January 5, 2018 at 9:34 am
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1800 SW Elizabeth | Portland Heights Victorian


Posted on December 26, 2017 at 11:12 pm
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720 NW Warrenton Terrace | NW Sophisticate


Posted on December 26, 2017 at 10:10 am
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Perfectly Located | 0214 SW Sweeney



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