PNW Must See: Silver Falls

The largest state park in Oregon amounts to a natural microcosm of what’s great about this corner of the continent, with a moody rainforest, stunning waterfalls, and hiking trails that take you deep into the 9,200-acre preserve. At Silver Falls State Park, near Salem, calypso orchids hide among the firs and maples, while cataracts up to 177 feet high punctuate a misty canyon. The 8.5 mile Trail of Ten Falls draws hundreds of thousands of hikers each year to its spectacular cascades, not just for the sights but also for the sounds.

Posted on May 5, 2019 at 6:47 pm
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Open Sunday 1-3 PM | 4119 SW Tualatin Avenue

Posted on April 30, 2019 at 5:49 pm
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Design Week Portland Starts Saturday

Design Week Portland is “A spirited week of programming presented each year.

Hundreds of independent events and open houses, conceived and hosted by Portland’s vital creative community.”

For more information on the events click here >>> https://designportland.org/

Posted on April 3, 2019 at 6:44 pm
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Portland Heights Sophisticate


Posted on January 25, 2019 at 12:00 am
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Home for the Holidays | 4192 SW Greenleaf

Spend the holidays in a classic colonial on Greenleaf Drive. Enjoy spacious formal rooms with a fireplace, sip hot cocoa in the eat-in kitchen and cozy family room, rest in the quiet master suite with a spa-like bathroom. Keep guests happy in the additional bedroom suite with garden views. For more information on how you can come home to this fabulous property click here.

Posted on December 10, 2018 at 11:37 pm
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Local Artist Spotlight: Mara Safransky

Looking to add color and spruce up your walls this winter? Look no further.

“Mara Safransky is a Portland, OR-based artist working in paint, pastel, and fiber-based sculpture who uses color, shape, and movement to engage viewers in a subjective, freely-associative experience.”

For more information on her colorful work click here >>
https://marasafransky.com/ 

Posted on November 28, 2018 at 11:30 pm
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4119 SW Tualatin

Posted on July 3, 2018 at 10:56 pm
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Portland Area’s Home Prices Climb Slower than Nation’s for First Time Since 2012

Posted on July 3, 2018 at 5:47 pm
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Love that Home’s View? See How Much You’ll Pay

April 4, 2018
 Love that home’s view? See how much more you’ll payA house with a fabulous view can be hard for a home buyer to resist. But seeing the mountains, water or city lights from the comfort of home comes at a price. The hazy part is figuring out what that added cost is — and whether it’s worth it.

That’s where real estate appraisers and analysts who study home values can help, even though they recognize there’s no simple answer.

“Views are actually really difficult to quantify,” says Andy Krause, principal data scientist at Greenfield Advisors, a real estate research company. “It’s somewhat subjective. What makes a better water view? Do you want it to be wider? Do you want more of the water from a taller angle? You know, some of that is in the eye of the beholder.”

Assigning a dollar value can also be difficult because not all views are equal or valuable, and a view that’s sought-after in one location may not be in another.

In Manhattan, a place that overlooks a green space or woods will cost you a lot extra. In the countryside? Not as much, says Mauricio Rodriguez, a real estate expert who chairs the finance department at Texas Christian University’s Neeley School of Business.

Putting a price on it

So how do you put a price on a variety of views? Krause, who builds automated valuation models that analyze home data, produced these estimates for what five different types of views might add to a home’s price in Seattle:

  • 5 to 10%: For a home on flat ground with an unobstructed view of an open space or a park, a seller could add 5 to 10%. In other words, if an identical home without a view is worth $500,000 elsewhere in Seattle, this view could boost the price to $525,000 to $550,000.
  • 10 to 30%: A home partway up a hill with a partially obstructed water view over neighbors’ rooftops could increase the overall price by 10 to 30%. It depends on how much of your field of vision the view fills, both vertically and horizontally, Krause says. In this example, a home otherwise worth $500,000 might fetch $550,000 to $650,000.
  • 30 to 50%: This time Krause considered the same home as above, in the same location, but with an unobstructed view. “You still have the neighbors above looking down into your house, but you have a nice water view,” he says. With this clearer view, the $500,000 home could sell for $650,000 to $750,000.
  • 50 to 75%: Next, envision a home atop a hill with an unobstructed cityscape or open-space vista. To buy the $500,000 home in this location, a buyer might have to pay $725,000 to $875,000.
  • 75-100% or more: Finally, imagine a house with a stunning, unobstructed view of a big lake or the ocean. This type of prized view can boost the value of a home worth $500,000 in an ordinary location to $1 million or more, Krause says.\

How to shop for a home with a view

If having a view is a must on your homebuying list, here are a couple of tips from the experts:

1. FIND OUT IF THE VIEW IS PROTECTED

Frank Lucco, a residential real estate appraiser and consultant in Houston, once had clients with an expensive home who sued after a high-rise office tower went up across the street. The building disrupted their view and gave office workers a view of their formerly private backyard and their teenage daughters using the pool. The lawsuit was dismissed, Lucco says, and a bit of detective work could have told them that commercial development was allowed.

To avoid a similar outcome, Lucco says before you place a bid on a home, ask planning authorities what the zoning allows and if high-impact developments are planned nearby.

2. LOOK FOR DIAMONDS IN THE ROUGH

Bargain-hunters can occasionally find views for cheap because poor design — walls where a big window or a deck might go, for instance — blocks what should be a nice view.

“It may cost you $15,000 to $30,000 to do a very limited remodel that gives you a better angle, or higher vantage point, or a rooftop deck,” Krause says. But that could be a deal compared with buying a home that already takes full advantage of its view. Lucco suggests inspecting the home’s deed for any restrictions limiting additions to the height. Pay careful attention to homeowner association rules, too.

A view can be one of the most attractive aspects of a home. Knowing that you paid the right price for it can make the scenery that much more enjoyable.

This article was written by NerdWallet and was originally published by The Associated Press. 

Posted on April 11, 2018 at 9:49 pm
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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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