By Steve Murray, President of Real Trends
The National Association of Realtors reported that their Pending Home Sales index reflected the fifth month in a row of declining home sales on an annualized basis. Five months of declining pending home sales indicate more than a seasonal flutter.
As with others, I look around and listen to brokerage firms in the Denver area, as well as in other areas. What I’ve heard is that even sky-high markets like Seattle and Denver are seeing increased inventory and a decrease in the aggressiveness of buyers in mid- to upper-price ranges regarding multi-offer situations. We’ve read about this same situation in other markets as well – declining home sale units and increased inventory. The Real Deal and other publications, for instance, are reporting this about the New York City market.
The house designed by the firm of Foulkes and Hogue in 1913 for Dr. Ami Nichols is a prime example of Colonial Revival architecture in Portland. Well maintained at 1961 SW Vista Avenue, the Nichols House is an anchor for the other excellent Colonial Revival houses in its immediate neighborhood. In most aspects, the plan and façade are symmetrical. There is a hipped central roof and a kitchen wing to the rear. A large portico with balcony faces east toward the city, and it is supported by four Ionic columns, a design repeated in the corner pilasters. The house’s fine cornice is supported by modillions, and the entablature is dignified by egg-and-dart molding, all accomplished with unparalleled craftsmanship. The details extend to the recessed entrance porch and balcony above. At the entrance level, concave niches with a shell motif at the top align on either side of the entrance door. The main floor windows are unusual, with 1/1 panes and a transom light above. Quality of detailing is also found in the interior, where Ionic column theme is repeated in the large entrance hall. Further Colonial Revival characteristics are seen in the main stair, the built-in dining room buffet, and the fireplaces.
Classic Homes of Portland, Oregon 1850-1950, William J. Hawkins, III, and William F. Willingham
This functional residence exudes unpretentious charm and a relaxed but refined lifestyle. The home features fresh paint colors, wood floors, an eat-in kitchen, extensive moldings and high ceilings. The custom craftsmanship makes this a wonderful combination of light interiors and facilitates a wide range of entertaining styles. Enjoy a lovely courtyard and expansive decks. Ideally located close to OHSU, NW 23rd, city & high tech.