The Portland Market Action report from RMLS for April 2016 was just released, and may be a little early to speculate, but it could be quite the summer for real estate in the Portland Metro area if the market continues to trend like it has been. On the sales side, all of the numbers are up and the Portland market continues to be one of the hottest markets in the nation.
We’ve talked about walk scores in the past on the blog, but what if your preferred method of transportation is via bike?
Using your bike as your primary mode of transportation certainly isn’t something Portlanders are unfamiliar with. According to Forbes, Portland is the 3rd most bike friendly city in the US, and you’ve surely seen plenty of cyclists all around as you’ve traveled around the city.
Experts are turning in more in depth analysis and issuing predictions for the US housing market for the rest of the year. The Portland home market is one of the fastest-growing in the nation. January 2016 was the fourth straight month where the price gains of metro Portland real estate led the rest of the country. Between January 2015 and January 2016, Portland home prices gained 11.8 percent. Seattle and San Francisco held the second and third place, with gains of 10.7 percent and 10.5 percent, respectively.
Come out to see how those who live in Portland have restored historic homes to fit into today’s modern standard. The Old House Revival Tour will take place on Saturday, April 9th 2016 from 10 a.m. until 4 p.m. Guests can explore eight historic homes and also visit with homeowners and contractors who have been through the process of working on such properties. There are many who feel overwhelmed with the thought of purchasing a historic Portland property, but there are many rewards in saving these gems from demolition and bringing them back to their once grand state.
The National Association of Realtors has just released the Pending Home Sales Index for February. The PHSI is based on contract signings and is a sign of how the market will perform in the coming months. February’s PHSI was 109.1, which is 3.5% higher than January’s 105.4. It’s also 0.7% higher than February 2015. Anyone on the market for a Portland home this spring should pay attention to what these numbers mean. Experts believe that two factors are driving the increase in the PHSI. The first is low interest rates, which have reached their lowest level in about a year. A small increase in housing inventory is the second factor.
Increased Inventory of Metro Portland Real Estate Driving Home Sales
If these trends continue, people on the market for metro Portland real estate might have an easier time negotiating a favorable price. More inventory means buyers can check out another Portland home if a seller won’t work with them on the price. Less competition makes for a less stressful buying experience and may lure people to the market who are waiting for prices to come down a bit and for bidding wars to subside. Real estate experts agree that for spring sales to increase over last year, inventory must increase, which it is expected to do.
Call our office to find out about the latest trends in Portland neighborhoods and get advice on buying and selling Portland real estate.
The Oregon Rail Heritage Center is an interesting place for all who live in Portland to visit. This can be an especially great place for families with little ones who love trains. Come often to see the changing exhibits about the history of the railroad in Oregon. In addition to the exhibits, guests are able to go on a guided tour of the big engines, shop at the giftshop, and even take a short train ride. The Oregon Rail Heritage Center is home to three locomotives, two of which have been restored after sitting out in the weather for many years. The third locomotive is currently being restored and will join this group of operating locomotives upon completion. All who live in Portland are invited to come visit on a Saturday and enjoy a short trip on the Oregon Pacific Railroad to the Oaks Bottom Wildlife Refuge. Call 503-233-1156 to inquire about this train ride.
Portland Property Owners Explore Trains and Rail History
The Oregon Rail Heritage Center is located at 2250 SE Water Ave. in Portland and is open from 1 until 5 p.m. Thursdays through Sundays. Admission is free, but donations are greatly appreciated so that this facility can continue to be open to the public. The ORHC is also a great option for holding a child’s birthday party. Prices begin at just $100 and this is a fun way to hold a party away from your Portland property. Visit Oregon Rail Heritage Center to learn more and to plan a visit.
Many homeowners are looking for green energy solutions for their Portland home. One idea to look into is solar power. Solar panels can cut down costs and also drastically reduce the amount of carbon dioxide a home uses. Installing solar panels could be a great idea, but there are many things to keep in mind before deciding if they are right for your Portland home. First of all, is there a clear enough space on your roof to collect sunlight between the hours of 10 a.m. and 2 p.m.? Are there too many trees in the way, or does your roof have a chimney, skylights, or other vents that would impede installation? Solar panels are also most often installed on asphalt or composite shingles. If your roof is composed of a different material, it is best to check with an installer to see if it is even possible.
Metro Portland Real Estate Must Get Enough Daytime Sun
Only install solar panels if the roof of your metro Portland real estate has many years of life left. Families should also consider how much energy they use and expect to use in the coming years. Go over past bills to find the average energy consumption of the household, then do the calculations to see if the cost of installing solar panels would be worth it for your family. Be sure to educate yourself on permits required as well as any rebates that are out there for going green. Find a quality installation company to work with and research all the options before deciding if solar panels are the right fit for your home.
Cyclists who live in Portland are welcome to head over to BikeBar, a bicycle- and family-friendly brewpub and restaurant. Proudly serving up Hopworks beer, there’s a great variety to choose from. Try India red ales or pale ales, wheat beers, ciders, stouts, or lagers. BikeBar is the place to go for lunch or dinner and also has a great happy hour. Actually, there are two happy hours. Come in from 3 to 6 p.m. or from 9 p.m. to closing every day of the week. The happy hour menu includes garlic fries, Hopworks famous pretzels, black bean corn cakes, warrior wings, meatball sliders, and more. These appetizer-sized plates are all under $6.
Sample Hopworks Beer Brewed on Portland Property
If you work on commercial Portland property, go to BikeBar for the lunch special. Have a slice of pizza with a salad and a soda or a beer before heading back to work. There are also great burgers, sandwiches, and build your own pizzas and calzones. Families that live in Portland are more than welcome to bring their kids, and the little ones can choose their favorites off a special menu just for them. BikeBar prides itself on using the highest quality ingredients, locally sourced and organically grown when possible.
Visit BikeBar online to see the full menu and plan a meal out.
If you’re thinking of selling your Portland home, one of the most important things you can do is get your house appraised and set the asking price in accord with the appraiser’s evaluation. It is very common for homeowners to believe that their homes are worth several thousand dollars more than they actually are. When you’ve lived in the same house for many years and made significant improvements, the house is of great value to you. However, when you’re looking to enter the metro Portland real estate market, it’s important to price your house competitively so that it will sell in a timely manner. A house that’s been hanging around for weeks or months will look less attractive to buyers. People wonder if it’s taking too long to sell because of some issue with it. Appraisers are looking at homes in your area every day and have a very clear idea of what the current market conditions really are.
Get Metro Portland Real Estate Appraised to Get True Market Value
In fact, studies have found that, on average, homeowners are currently valuing their homes at about 2% higher than appraisers. This may not sound like a lot. But if you take 2% of $300,000, which is the current average price of a Portland home, you get $6,000, which is a significant amount of money. Market conditions are constantly changing. While the classic example of pricing a house incorrectly is pricing too high, the opposite situation does sometimes occur, and homeowners think their house is worth less than it really is. Because the real estate market is so volatile right now, it’s wise to take the advice of professionals who are in the thick of home buying and selling. Feel free to call our office to talk about your home selling plans.
Irish folks who live in Portland are smiling at Paddy’s 2016 St. Patrick’s Day Celebration. This downtown Portland property shuts down the street for an Irish party like no other each March 17th. In its 7th year, Paddy’s annual event brings a bit of Irish culture to the neighborhood. Opening at 11 a.m. the soulful sound of bagpipes fills the air. A day brimming with Irish traditions follows. Savor Irish fare with an authentic meal of corned beef and cabbage. Toast to friends and neighbors that live in Portland with a sip of Guinness and take part in cultural music and dancing. Live acts include AnDaire Irish Dancers, Galway Ramblers and the Boys of Malin. Partygoers can also purchase a chance to win a trip for two to Ireland. The winner will travel to the Emerald Isle in style with paid air fare, lodging and a trip to the Guinness Factory.
Music, Food, and Drink Flow at Paddy’s Portland Property
A select amount of VIP passes are available at the pub for advance purchase. Perks consist of no wait access, private bar privileges and preferred seating. VIP Passholders may also indulge in complimentary whisky tastings. Benefiting the Children’s Cancer Association the fundraiser has collected thousands of dollars through the years.
As the oldest pub in downtown Portland this historic establishment has been the site of many St. Paddy’s Day revelries. For more information please visit Paddy’s website. Raise up a pint of Irish ale and join the fun!