Choose Your Lifestyle

Posted on February 23, 2018 at 7:23 am
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3643 SW 52nd | Wilcox Estates Condo

Posted on February 19, 2018 at 10:39 pm
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3643 SW 52nd Place | $410,000

Posted on February 15, 2018 at 1:02 am
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Perfectly Located | The Eliot

Posted on February 8, 2018 at 9:43 pm
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7785 SW Fairmoor | Broadmoor Mid-Century

Posted on February 5, 2018 at 10:33 pm
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1708 SW Hawthorne Terrace | $1,595,000

Posted on February 5, 2018 at 10:16 pm
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1221 SW 10th Avenue #1705 | Live a Vibrant Life at the Eliot

Posted on January 30, 2018 at 12:57 am
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Here Are Portland’s 25 Hottest Neighborhoods for Home Sales in 2017

By Andy Giegerich, Portland Business Journal

Could this be the end of Portland’s so-called hot housing market?

Indeed, the total number of sold listings — 31,718 — in RMLS’ Portland region dropped by 3.6 percent between 2016 and 2017. That figure follows a 1.1 percent drop the previous year.

Yet the data, which we used to calculate four Hottest ‘Hoods categories (we’ll roll them out throughout the week), might not be as bad as it seems: The tallies posted in 2015 were a peak year for Rose City-area home sales.

The Hottest ‘Hoods full-year data for 2017 covers overall home sales (which we’re releasing today), the areas where homes sell the fastest and the highest average home sales prices in 25 neighborhoods.

Among the findings:

  • The top overall neighborhood in terms of total home sales logged nearly 50 percent more sales than its closest competitor.
  • Neighborhoods west of the Willamette River commanded seven of the top 10 home sales slots.
  • Among the top 25 ZIP codes for 2017, home sales only dipped -2.2 percent
  • Just one zip code, 97035 in Lake Oswego, dropped out of the overall sales list. It was replaced by Lents, or 97266.
  • The biggest year-over-year climbers in the top 25 were St. Johns and neighborhoods in Wilsonville and Sherwood.
  • Portland contributed just over half — 13 — of the top 25 home sale ZIP codes among the region’s top 25 neighborhoods.

Click through on the picture above to learn which neighborhoods logged the most residential deals in 2017. And check later this week for more stories detailing exactly how well Portland’s real estate market fared during the past year.

Posted on January 24, 2018 at 9:00 pm
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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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