The signs will coexist for five years and then the 39th signs will be removed. I have not driven the whole 7.2 mile length of the street but did not see new signs around SE Division.
For real estate, the change has been made. There are 178 active listings on 39th Ave right now and just two on Cesar E. Chavez BLVD. Property entry into RMLS starts with the tax ID number and the address is auto-populated. When I tried, it used Cesar E. Chavez BLVD. I can manually change the street (but why would I?). A Cesar E. Chavez listing is going to show that it is a new listing (or manually changed) for a time being, much like an MLS number starting with 100 was entered in 2010 and a 90 was entered in 2009. The difference being that the street can be changed without creating a new listing.
We have history to look at too. Rosa Parks BLVD was Portland BLVD. The last house sold on Portland BLVD closed on 5/8/2008. The official change was made on 12/14/2006. It isn’t a huge deal for real estate. I don’t think property values are affected by the change. When a Realtor is asked, “I saw a house on 39th,” if they can’t find it, they are going to have to search Cesar E Chavez and vice versa but that’s not tough. Old legacies die hard. Portland Brewing became Pyramid in 2006 but we still “meet at Portland Brewing.”