Ready Made Discount: $100,000 off Your Purchase

View from the kitchen.

I’ve worked on this transaction several months off and on, for an out of town buyer looking for a second home here in Portland, the sometimes intense negotiations going back and forth between the purchaser, 937 and myself. Besides just negotiating a sales price, I also was involved in poring over the (often) daunting sales agreements that new construction sales offices produce and insist on using- often to their benefit, and locating and deleting possibly damaging clauses. In this day the condo developer is more forgiving of changes to their contract.

I’m pleased to say that I have negotiated $105,000 off of the sales price. The developer and their bank are also offering $18,000 in closing costs which can be used for a substantial buy down of the interest rate the first two years before going into a 30 year fixed rate, substantially reducing the payments the first two years. And  did I mention a complete blind system for the gorgeous floor to ceiling windows?

The only problem is the buyer is now gone.

The 937 has a great location, at 9th and Glisan and some of the best natural light from just about any condo I’ve been in. The building is working towards Platinum LEED certification, the highest and best use of the materials available today with the building using 40% less energy than condos built before 2001. Low VOC materials and paint were used in the interiors for healthy air with Caesarstone slab used on the countertops in the baths and kitchen surfaces. The finishes are all first rate.  Windows are gorgeous- floor to ceiling- and often open to the surprising red decks. Many have gorgeous views of the west hills, bridges or Mount Hood. Review of 937 by Brian Libby of Portland Architecture.

While the buyer may be gone- the opportunity is not- so please give this a forward this to someone interested in buying a beautiful condo for a great price. The unit has two bedrooms, two full baths and is 1300 plus square feet and includes a secure parking space.

Sriracha: Ready for Your Tattoo?

We- like so many, love the ubiquitous perfect hot sauce known as Sriracha, or “Rooster Sauce”. My kids and I were curious how fast we would go through a whopping jar of it, purchased at the amazing Uwajimaya in Beaverton, so I “sharpied” a date on the sauce which we just finished almost exactly a year later.All the while the same little dribble of Heinz ketchup sat shoved up in some corner of the refrigerator collecting that icky water on the top. This article from the NYTimess came to mind, which was published awhile ago, but was so good I’m happy to have any excuse to share it, a mixture of sauce trivia with a great American success story.  This stuff is so popular it has more than one Facebook page. High end chefs use it. Appleby’s serves it. One person even mailed the Bay Area company a photo of the rooster tattooed on his leg. He was from Portland. I wouldn’t go quite that far, but do think it has great flavor with a very respectable amount of heat that will doctor up the dullest bowl of emergency dinner ramen that I buy about once a year.  The NYTimes article.

Tilde in Sellwood

Tilde

Wandering though Tilde in Sellwood, I just marveled at all the clever things I had never seen anywhere else. The editing is top notch. From jewelry to handbags vases, cards and ceramic decorative objects there has got to be a gift here for just about anyone that has any taste at all, but especially if they tend towards mid-century or scaled down. The price range is wide as well. I knew my husband J, would be pretty darn excited (that’s how strong his language gets) about these Pantone cups- it was like shopping for my favorite crayon colors.

Pantone Cups

Even better, the store is located next to a great bank of food carts so you can feel absolutely absolved from your little spluge when you can buy lunch for two so inexpensively. Bruce Lee’s food cart suffers a bit signage wise, but the owner has an amazing full size gas range inside and whips up a mean red curry stir fry as good as any I’ve had in town at a sit-down restaurant.

I must say, I do not some of the antique stores of the past making way for an updated neighborhood feel.

Bruce Lee's SE 13th and Lexington

“Ugliest House in Connecticut”

That’s what neighbor, Bill Blass remarked to Joan Rivers when she announced her intention to buy a property near his country home in Connecticut. Yet Joan did buy the home on 84 acres and converted it into her ideal getaway, a place to bring her grandson and “friends having nervous breakdowns.”

Like many homebuyers with vision, Joan overlooked the fact that the current home on the lot “looked like a Denny’s” and instead saw it’s potential in it’s sweeping views. In the meantime she figured she could “just stand at the front door and hand out menus”.

I don’t care how much surgery Joan has had- she makes me laugh. Read the NY Times article and watch a slide show of the home.

Schoolhouse Electric

Schoolhouse Electric's Restored Facade

When clients Andrew and Yellena James recently gave me a gift certificate to Schoolhouse Electric, I was thrilled. Besides being a generous gift, I had always wanted to visit- and as a triple bonus, the talented Yellana has been chosen as the first artist in a series of exclusive designs and her work was not only prominently displayed in the store, it graces the front of their most recent catalogue.

The building itself was more recently a storage area for the nearby Miller Paint Company- thankfully the current owners removed the brick covering the lovely facade and brought the room back to life. Schoolhouse lighting is made completely in the United States, the designs originating from vintage molds as well as designed in-house here in Portland. The components are finished and assembled just two blocks up the street. The era runs from historic to mid century.

Yellena Andrews Graphic Design Applied to Lighting

I’m so looking forward to hanging my light- and to spending more time in this delightful local resource known as Schoolhouse Electric.

See more of Yellena Andrew’s work. Yellena has an upcoming solo show in Barcelona this year, has designed snowboards for K2 that are in stores now,  and is working on some “kicks for Keds”.

History of Alameda

Keller House: 3028 NE Alameda

Some of his neighbors have perhaps thought he was a nut case when Doug Decker has knocked on their door- just to share with them a historic picture of their home. Alameda has an amazing history and Decker, resident of twenty years has uncovered a trove of it. He has looked up census information, permits pulled, and hunted down previous owners of many homes. He’s researched microfilm, old Oregonian ads, and has conducted countless interviews with now and past residents. And he has a day job with the Department of Forestry.

Today in a packed presentation at the AHC, Doug brought Alameda alive. Starting with a plat map showing Alameda before it’s existence, the site of trees and a dairy farm at the city limits of Portland (then at NE 33rd St), he presented a pictoral history with the developers first buying the property in 1909 and bringing in the streetcar line and infrastructure. By 1934, most of it’s homes had been constructed, with some prominent builders such as Frank Read, Harry Phillips and Ken Birkemeier involved in multiple homes in the neighborhood. Several of those homes including the pictured Keller House are on the National Historic Register.

Decker’s information gleaned from early census materials showed the neighborhood’s inhabitants changing fortunes. While many homes in the 1920’s had live in servants such as Irish maids and nannies, the 1930’s ousted much of the paid help and brought in boarders and older relatives into their homes. Oregonian ads revealed more information- when the area was first being developed, there were was no Broadway Bridge, roads, or streetcar to get to the site, so the developers offered potential buyers “a ride in our autos” and writing enticingly about Alameda- as if it had already been built. Later, the neighborhood having been designated as strictly residential got up in arms when a church tried to build within the neighborhood boundaries. The Alameda Park Community Church was forced to move just beyond the outskirts but eventually won over the neighborhood by running youth summer camps popular with Alameda’s children. The church is now known as the Subud House, still on Regents Drive.

Alameda Park Community Church, completed 1921

Visit Decker’s comprehensive website, Alameda History. He hopes to write a book on the history of the neighborhood, and accepts research projects on behalf of homeowners looking to their home’s past.

The Unknown Tax Credit

While many people are aware of the first time home buyer’s tax credit of up to $8,000 and that it was extended recently. What most people aren’t aware of is a tax credit for homeowners who currently own a home now. A credit for 10% of the purchase price, up to $6,500.

A few caveats: You must have lived in your current home for five out of the last eight years, and there are income qualifications- up to $225,000 for a couple of their adjusted gross income and $125,000 for single filers. You also must be in contract by April 30th and close by the deadline of June 30th of this year.

If you or a friend are considering selling this year, it may make sense for you to sell now and take advantage of keeping some major money in your hands.

First Time and Step Up Buyers Tax Credit (Full Document)

Fascinating Class

Certified Negotiation Expert

What does a former executive from Proctor and Gamble have to teach me as a realtor? It turns out- quite a lot. During his twenty five year stint with Proctor and Gamble, he negotiated billions of dollars worth of contracts up and down their supply chain, ended up teaching negotiation skills internationally for ten years and eventually developed a course for the real estate industry.

When I had the opportunity to attend a two day small class with him, I couldn’t pass it up. Today’s real estate market, as everyone well knows, has gotten a lot tougher. While everyone is aware of fewer sales in a depressed market, what most people are not aware of is how tough negotiations can be from the smallest home to the largest. Both buyers and sellers have much at stake right now, and that makes negotiating one of the skills one has to bring to their clients for a successful transaction.

Topics covered included creating opportunities to interact and dialogue with the other side, ascertaining the best techniques with which to persuade and influence, and understanding different types of negotiation and when to use them.

While my husband commented that “he may never get his way again” I believe most of my clients will appreciate my new designation of CNE.

December Market Action

We’ve experienced a pretty steady inventory in Portland- for months we’ve stayed around seven months worth and December had us at 7.7. Month to month, December 2008 to 2009, sales were up 52%. However, last year showed an average of 12% loss of value for the year, which of course means some areas suffering more and others less so.

Nationwide, our market is also somewhere in the middle, with Las Vegas at a 26% decline, but San Diego with a 2.7% yearly decline in the latest Case-Schiller report.

Digging in a bit deeper, DOM (days on market) in Portland seem to be a mirror of the average sales price with SE Portland having the most closed sales with an average price of $237,00 at just over 100 days on market. West Portland follows with an average sales price of $400,000 and 185 DOM, with the leader in both areas at 235 DOM for West Lynn and Lake Oswego with a average sales price of $538,000.
Interest rates are still historically low and buyers need to see good value to bring a home from “active” to “pending”.  Price well and prepare well if listing.

Read the full Market Action Report.

Seattle Getaway

Dahlia Lounge: Great Cocktail Visit

Without lessening my love for Portland at all, can I just say how much I love visiting Seattle? In just a few hours one can get away to a completely different town with many more dangerously delicious restaurants to try and re-visit.  This makes our third stay at the modern boutique Hotel Andra, and the rates are great now, especially if you can get an additional discount. The Seattle Art Musuem (SAM) almost always has some great exhibits, and luckily this trip there were three- Michelangelo’s sketches for the Sistene Chapel, an Imogen Cunningham photography exhibit, and a really charming show of Alexander Calder that displayed several of his larger mobils as well as a film of his “Circus” .

SAM Lobby

There was accidental shopping at a consignment shop that sold Chanel next to Bannanna Republic pieces. We dined well at a few old favorites, Le Pichet an intimate bistro, and Cafe Campagne (best Croque Monsieur stateside). Restaurant Zoe had some lovely dishes for dinner, but our best new find was at Spring Hill for brunch- featuring a homemade corned beef hash with poached eggs. Located in West Seattle, the short drive from the city offered some great industrial views of the city.

In an unexpected turn, the (much younger) server at Le Pichet directed us to a bar called Bathhouse Gin after our meal. It felt a bit dodgy, in a dark alleyway and signed only with a plaque beside the door- but in the mood for adventure-and another drink, we managed to find what did seem to approximate a speakeasy during prohibition- but with better alcohol.

Bathtub Gin: Alleyway "Speakeasy"

We finished up at Chartruese Modern, our favorite modern furnishing store- you’d be surprised what we can fit in the back of Jeff’s Audi, although we didn’t press it this trip. They have new and vintage pieces mixed together, as well as some fun Marimekko fabric pre-stretched and framed.

With the second coffee of the day in hand, we headed back to dear Portland, feeling not the least bit remorseful for having cheated on her. It was only for a weekend. More food and city shots.

Parry Center Cookie Party

One of the children's creations.

Thirty five children enjoyed decorating cookies last month at the residential care facility known as the Parry Center. For the third year I hosted the party with the help of my two gorgeous daughters and our good friend Marianne. The kids ranged in ages between six and sixteen but there was no difference in the enthusiasm they showed in using pounds of sprinkles and icing on their creations.

For over ten years I hosted a cookie party in my home for friends and their children, where I would bake several hundred cookies, make decorative icing and put multi-colored sprinkles on the table for a decorating free for all. Towards the end of that period I started thinking about sharing the tradition with children that didn’t have the same opportunities as my own children. A co-worker put me in touch with the Parry Center, a wonderful facility where children could receive counseling, getting care for their mental, behavioral or abuse issues- a place of healing.

The tradition has grown with my Fir Grove Garden Club members generously helping me bake all the cookies for the event in one marathon evening. They truly seemed to enjoy the baking as much as the kids did the decorating.

When I learned that many of the children arrive at the Center with just the clothes on their backs, I began collecting pajamas so that everyone would get their own pair. This year, the goal was exceeded and 60 pairs of pajamas were donated from my office, neighbors, friends, family and clients.

Handmade Pajamas Donated by Bethany B.

When I was taking pictures at our party, the kids insisted I take a picture of every single one of their cookies. No pictures of the kids are included for privacy reasons, but here are some of their cookie creations.

Brentwood Before & After

Kitchen, before.

Kitchen, after.

Truly, no two real estate transactions are alike whether buying or selling. Not one. So I approach my buying and selling clients with all the experience I have gathered, skills polished up for service, and a great deal of flexibility depending on how things evolve. Any one that has had a baby knows the unpredictability of that situation. Same thing.

This home had out of state sellers, a wonderful family whose profession required them to transfer across the country, and when the transfer didn’t bring them back- well, a sale was necesarry. When they moved, the market was hot. Before they left, strangers approached them at the curb, offering to buy. With just a bit of polishing, they were very hopeful their home would sell easily.

But it is a different market today. It was evident very soon that we needed to adjust to it and the sellers decided to do what needed to be done to attract a buyer in this highly competitive market with fewer buyers in a tough price range. But living across the country, how was that to happen? And of course, there was a limited budget.

Luckily, I have been entrusted with quite a few of these projects over the years. Within a week I assembled the team to remove wallpaper, carpet and old lighting. Multiple bids were furnished. Floors were refinished, cabinetry was removed and painted. Lighting was updated and added. Dated tile was replaced with granite tile. Gallons of paint, and elbow grease was applied. For three weeks the driveway and streets around the home were coming and going with workers. The neighbors were pretty curious.

The house was re-listing and sold within two weeks, interestingly to some purchasers that I had showed it to previously. It was very rewarding for me to have a vision of what could be done and execute that successfully. My husband has suggested I go into design. But I already am. See more pictures of the home before and after.

Lucky Strike

My relocated Bay Area husband is always on the lookout for good Chinese food, so it was sooner rather than later that we headed out to the Sichuan restaurant, Lucky Strike, way way out 122 blocks on the east side, that was just featured as a top restaurant in Portland Monthly. A favorite food accomplice, Kathleen, and her family joined us for our adventure which allowed us to order liberally from the menu. The setting was not what I expected- the restaurant is extremely small but big shall we say in “character.” Oregon Lottery signs feature prominently, and one TV screen was featuring a reality police show in the background. But we came for the food and we were not disappointed on that count- we ordered seven dishes for the five of us and all were very different from your Chinese local. The cuisine being fiery Sichuan notwithstanding, many of the dishes were surprisingly complex: the cumin beef was cooked with both slender celery stalks and their leaves, the Guinness ribs were sweet, but not overly so, and many of us remarked that we could make a meal of them on their own.  Even the green beans with black beans (the Beans with Beans) had the intriguing tongue numbing effect of the prickly ash used in this cuisine. The Kimchee Rice built up a fiery heat that seemed to have no limit, but we noticed other tables had ordered the Hot Pepper Chicken Bath that appeared to be nothing but a plate of red peppers. No deaths were reported. We were just as pleased with our bill- a total of $80 even with our adult beverages- note look at the pictures and order the Sapporo beer.

Kathleen Admires the Decor

Guinness Ribs

Green Beans with Black Beans

The House "German Lager"

Classic Houses of Portland

This is the name of the book and the lecture featured this Saturday at the wonderful Architectural Heritage Center on SE Grand. Bill Hawkins, one of it’s authors, will take you on a visual tour of some of the 300 residences in this must have book for those seriously interested in the architecture of Portland. Bill will share his knowledge of the original owners and history of these classic homes, many of which are still standing today. One of the more contemporary homes is right on SE Hawthorne and has been converted into use as a funeral home. Saturday, November 21st 10:00- 11:30 am  Buy Tickets Here. Peruse the Book.

Beaker and Flask

Beaker and Flask Exterior

Now that no babysitter is required for nights out, it’s so much easier to try and keep up with Portland’s food scene. If only I could have done it when the calories were easier to lose! J and I have visited Beaker and Flask and several occasions, and it’s amazing how popular it has become over the last several months. The space is open with the bar taking main stage and dining areas on either side. True to it’s name, the cocktails are not to be missed, and the food is a close second. It’s also a great people watching place with young, fashionable, and hip Portlanders dotting the room- just be ready for some serious conversation buzz if you visit later in the evening. 720 SE Sandy

Razor Clams with Horseradish Sauce

My Drink: "The Combover"

Beaker and Flask Bar

Eames at Work

Ziba Design Building

Our own internationally known Ziba design’s exciting new workspace was open briefly to the public for the Eames at Work tour, a fundraiser for Street of Eames. It was a rare occasion to experience the melding visions of a design company and Holst Architecture. The interiors polished cement floors and white surfaces were warmed by the use of reclaimed fir, complete with old nail holes. Individual work spaces are small- about five feet for the designers, but more importantly all the disciplines in the design process work together in large rooms, rather than separated by their categories. Other areas include an auditorium, and a private room for international clients to shower and relax before their flight back to Paris. Worth a drive by at 1044 NW 9th Avenue.

The aptly named bSIDE6 building at 524 E. Burnside allowed some fabulous views towards downtown, but gave some playful views from the protruding “city rooms” that extend over the public sidewalks below. The building is home to Works Partnership Architecture, it’s designer, and has both retail and office space and is perfectly positioned for after work drinks at Jupiter Lounge and RonToms.

View from a "city room" in bSIDE6

View from bSIDE6 towards downtown PDX.

October 2009 Market Action Report

The biggest headline on the Portland RMLS report is that inventory is down to 6.5 months- the lowest since August 2007. Normally this would mean we have reached a balance between buyers and sellers in our marketplace. Though we started off in January with a whopping 19 months of inventory, new listings have also steadily gone down- 20% less compared to last year. What does this mean?

Being “out in the field” my experience is this: the people that are selling are those that see an advantage in moving up in the marketplace, those with a change in lifestyle (moving, divorcing, financial stress), and those that are in jeopardy of losing or have lost their homes. I see some sellers- perhaps even those that should be selling to move up, are stressed out by the market and are deciding to wait. New construction is at a virtual standstill. Thus the lack of listings going onto the market.

Average DOM (days on market) in North Portland are 84. Average DOM is Lake Oswego is 201. Lake Oswego’s average sale price is $200,000 more than in North Portland. The fact is that the lower price ranges for first time home buyers wanting close-in Portland- starting at around $200,000 and up, that’s been the hot market driving sales. Behind the affordability and good interest rates has been the $8,500 first time home buyers tax credit. Sales this month were up an impressive 64% from the same month last year.

First time home buyers now have an extension of the credit, and current homeowners that have been in their home for five years also have access to a substantial tax credit.

If you’re on the fence about selling, you can expect the same clear eyed assessment I give the Portland marketplace. I would be happy to help you assess what the best choices might be for you. Read the full Market Action Report.

Robert Rummers Great Theft

It was quite an evening a Rejevenation recently when they hosted a talk between Robert Rummer, builder of the famed “Rummer homes” and Becca Cavell of THC Architecture. Becca did a fabulous interview with Robert before a sell out crowd benefitting the Street of Eames. I was rather worried for Robert, who I got to meet briefly before the show, feeling he might be uncomfortable with questions regarding the origin of the Rummer designs and whether he would be more forthcoming then in years past. I needn’t have worried. Becca started out the evening crediting Eichler with their provenance. Mr. Rummer good naturedly mused whether anything in design was purely original and put me in mind of Picasso stating “A good artist borrows, a great artist steals.”

Once we got past that whole issue, Mr. Rummer shared some of the differences in building during the 60’s and 70’s when most of his 750 homes in the Portland area were built. Many of them were built in 60 days- after applying for a building permit that took one day. Though the permitting was easy, getting bank financing was not, as traditional lenders decided the homes were unsaleable and “goofy”.  The materials available to him at the time, such as non-tempered glass, presented limitations, though he is quite supportive of some of the updates recent owners have made, especially the addition of colors. He and his wife have lived in a few Rummers including homes at Bowman Terrace and Cynthia Court, and shared that the atriums are his favorite of the homes and feels they “should look like jungles.”

For mid-century geeks such as my husband and myself it was a great evening- thank goodness Mr. Rummer decided to build these wonderful designs in our area. That was his idea.

Watch part of the evening on YouTube including some great shots of Rummer homes.

Cooked Cucumber

Last month when I was reading the NY Times- one of my favorite things to do, I was reading about food article that featured a salmon cooked with cucumber. I know this seems a bit strange, but J and I have watched Jacque Pepin and Julia Child cook with them and it always sounded intriguing. Just to clarify, we often just refer this dynamic kitchen duo as Jacque and Julia and watch their cooking DVD’s as well as own a host of their cookbooks. We followed the recipe pretty closely, and were quite pleased with the salmon cooked in brown butter with the crunchy but just cooked cucumbers and a sprinkling of dill. If you do give this a go, I would recommend paying a bit more attention to the salmon, and serve it more on the medium rate side. It’s a shame to kill a good fish twice. Here’s the article with recipe.

Robert Rummer at Rejuvenation

Robert Rummer built hundreds of his “Rummer” homes through the 1960’s and into the 70’s in the Portland area.  Known for their pitched and flat roofs, atriums and huge swaths of glazing that blurred the line between indoors and out, they were the height of modernism in their time, and the very same features speak of modernism today.  Though there is an ongoing controversy about whether, or how heavily he borrowed from the Eichler homes of California, maybe that’s between Mr. Eichler and Mr. Rummer. After all, the Rummer is what we have here, and they are very much appreciated by those who appreciate their unique quality.

Mr. Rummer is being interviewed by Becca Cavell, principal at THA Architecture at Rejuvenation, Wednesday, November 4th at 6:00. I ran into Becca at last nights Eames at Work tour, and it was her understanding that they may have sold out. If you’re interested try:  rsvp@rejuvenation.com.

Spooky Houses

Once when I was babysitting for a neighbors kids oh so many years ago, shortly after the kids went to bed I heard some strange noises in the kitchen and went in to see several of the cabinets had opened. I shut them, went back into the other room, and sure enough- that sound again. There they were all open like before. By the third time this happened I was pretty terrified (well I was 16). Was it a ghost or was there some explanation? I can’t remember if I told the parents what happened when they returned, but I’m sure I never babysat there again.

In honor of the upcoming holiday, here’s a link to some creepy architecture and homes. I’d love to hear your personal haunted house story.

Radon Level Update

The World Health Organization has just made a recomendation, based on new research, that lowers the level at which homeowners should take action to remediate effects. The WHO believes that up to 14% of all cases of lung cancers, including those in the United States, are caused by the presence of radon.

Testing is relatively easy, and locally remediation usually costs less than $2,000. Certainly more important than buying that new sofa. Consumer Reports has just rated those kits found to be most reliable. Link to the WHO report.

Street of Eames Goes to Work

bSide6 Building

Any time I visit a different part of the city, or enter a building I haven’t been in, I feel more akin to our great city. Here’s a tour for those interested in the hottest design and architectural offices in Portland. The evening of October 29th, tour the much vaunted new Mercy Corp building, the bSide6 Building, and internationally known firm Ziba Design, among others. 

All proceeds to go to the Center for Architecture and the Street of Eames Fund, which pays for after school programs for homeless elementary school students.

So- view some amazing Portland architecture, give to a good cause and feel even more at home in this city we call home. Purchase your tickets here.

Energy Trust Tax Credits

Summer flew by, and now as I face the winter heating bills I recall I had every intention of winterizing my home this year. According to the Department of Energy,only 20% of homes built before 1980 have appropriate insulation levels.  The Energy IQ classes I’ve taken over the last year through Energy Trust have really cemented the importance of sealing leaks first, and then properly insulating the attic of my home. It’s not too late, so I’ll follow up in another post the measures taken- and how much is cost.

There are a myriad of projects that Energy Trust can help you with. The first step is a free energy review. As an Energy Trust Trade Ally, I would be happy to schedule that for you, so give me a call or email. As I’m sure you know, there are many projects that Energy Trust offers incentives for, such as tax credits. A portion of your energy bill every month goes towards incentive funding. Here’s how to get some of that money back.  Check out the list here.

Market Action September 2009

I’ve heard it said recently that the real estate market now is a price war combined with a beauty contest. So true- fewer buyers with very high expectations. The market is tough, but fascinating. It is a great time to buy- prices are down and record low fixed interest rates available to buyers. Still, the major activity seems to be at the lower price points. North Portland continues to have the lowest DOM (days on market) at 89 with an average sales price of $236,900. On the opposite end, Lake Oswego is at 204 DOM with an average sale price of $495,800. The message seems to be that the first time home buyers are driving the 34% jump in pending sales from last September. Septembers’ inventory is at 7.6 (the number of months it would take to sell all current inventory at the current rate of sales) and is very close to the six months inventory considered an even draw between a buyers and sellers market- yet, in terms of negotiating today buyers still are in great demand and seem to have the edge. While there are buyers in the higher price ranges, they are fewer and discerning. Note to my future Sellers- don’t despair- prepare, price properly and you will be in the best position to be the home that sells. There are multiple offers on homes- even in this market, on which buyers perceive hold a good value.  Read the full Market Action Report.

What’s a Quartile? To follow my earlier point regarding DOM at different price points, the chart below shows the full spectrum of price ranges divided into four groups, or quartiles, from the very top of the range to the very lowest.

Your Guides to Green

Many of us have good intentions when it comes to doing our part in keeping ourselves and our planet healthy- we recycle, buy local, and eat more seasonally. Our habits have changed for the good over the years. But don’t you just find the amount of information out there on how to green up boggling sometimes? And how do you actually implement those changes in your own home? Well, fear not- help, or guidance that is- is available to you. 

I met with Lisa Ard and Laura Baldshun recently to discuss their business, Eco-Guides, which they’ve owned  for over a year now. Their program is simple- they make three house calls, and during each house call address a different area of green concern: waste reduction, energy efficiency and home health/toxin reduction. As a bonus, many of their suggestions can save homeowners a substantial amount of money. They are warm, and knowlegeable and bring that Portland ability  of balancing concern for the environment with the understanding that their clients all come from different levels of green-ness. During and after their guide sessions, you can refer to their eco-guidebook, full of local resources and their recommendations- finally all that information in one place where you can find it when you need it.

Staycation

We really didn’t think we were planning one, our only intention was to entertain our much anticipated guests, J’s sister and her partner K from the Bay Area. So instead of our usual one or two outings on the weekend fit around adult chores, it was one giant field trip to some of our favorite places in Portland including our kitchen. The trainer was not going to see us this weekend.

Starting off at Park Kitchen, we were treated to a masterful meal. Their plates are well conceived and deliver, even when some ingredients seem a bit disparate, they bring it home. Several small plates were shared before our entrees between the four of us, showing off the range of the kitchen’s aptitude.  The whole staff seems to wait on you, from the bartender to the waiters floating about the rooms delivering and whisking away plates, filling glasses and all with a completely professional- yet hip, vibe. Regretably, I did not eat the last of the sauce on the calamari plate and forgot my camera at home.

A quick breakfast in, and then a trip to Vino in Sellwood. Owner Bruce Bauer’s wicked amusing blog is much enjoyed by our California family so Vino has become a Mecca-like trip for visiting kin. Bottles were purchased and we enjoyed sipping Saturday’s free tasting while admiring good label design.

Note the yellow "Adults at Play" signage.

Though tempted by the arancini at Garden State and the nearby taco cart, we headed off to lunch in Hawthorne at Evoe. Guided by chef Kevin Gibson, we took the liberty of ordering for our table and the leisurely feast began- starting off with a lively dish of pickled fresh sardines with lightly braised celery and marcona almonds, then sashaying through courses of crunchy pork belly, delicately cooked octopus and a sausage sandwich called the Navarre, with the bread and sausage surprisingly (and deceptively?) light. Wow.

Evoe's Pork Belly

Fresh Pot next door fortified us for a few hours at Powells, where I found my latest vintage cookbook for my collection, “Experiences With Food,” a 1956 home economics text book which despite it’s hilarious pictures is really pretty common sense. One of the captions reads that “sodas and sundaes are delicious between meal snacks, but they are to be let alone by overweight persons of all ages, and they are also to be denied if they destroy the appetite for the next wholesome meal.” Denied!

Home Economics Circa 1956

 After buying more than intended at Powells, we went to Uwajimaya, my first choice on the west side for buying fresh seafood. Since finding a couple of nice bottles of Patricia Green pinot noir at Vino, we decided to make one of “my” dishes: crispy seared salmon on a bed of black rice with mango chutney which I enjoy just as much for the color as the flavor.

My guests seemed a bit dubious about oatmeal for breakfast, but K had chosen some beautiful figs at PastaWorks next to Evoe, and I poached these in a simple syrup until they were just warned through as well as some cinnamon apples for any possible fig haters. I ladled these over creamy oatmeal, toasted some walnuts for depth and texture, and as a fool proof measure poured on a little half and half. No one complained about the oatmeal.

Poached Figs in Simple Syrup

We did have to watch a movie afterwards….before starting dinner.

A few friends came over to meet our guests of honor, and keeping the menu simple we sauteed some lovely in season (and reasonably priced) chanterelles and served them with toast. J made his famous “chicken under a brick” which delivers a caramelized exterior and moist interior- we served it with a hearty bread salad and plenty of wine.

Chicken Under a Brick with Bread Salad

On Monday I took a long nap and contemplated getting back into shape- for the next staycation.

East Coast Drywall Alert

Home owner blames Chinese drywall for toxic fumes.

Another good reason to buy Earth Advantage when buying a new home, the NY Times has just reported that drywall imported from China has made homes toxic in three states- Florida, Virginia and Louisiana.

Earth Advantage homes are certified throughout the building process to use sustainable and non-toxic products when installing a home’s cabinetry, carpet and paints and take care to incorporate healthful ventilation systems. Earth Advantage homes are also save 15% more energy than code currently regulates.

Imports of Chinese drywall have been halted for now, but if one is starting a home project it would be wise to check the origin of your material. Read the NY TImes Article.

Vinyl Love

I still have my original Peter Frampton Comes Alive album- so does my husband. We also share the same memories of staring at the Led Zeppelin Houses of the Holy album cover for the entirety of it’s play. How quaint in this multi tasking world to remember there was a time when one would actually just listen to an album while trying to absorb some inscrutable message or contemplate a singers hair part. So it was a perfect project for J and I to take a few hours to pull together some great album covers from our collection. Our mission was to choose from our hundreds of albums, those that had interesting graphics and colors that would work together as a whole- a kind of art installation. We had purchased the album frames some time ago, and the Labor Day weekend seemed perfect for a house project that did not involve anything unpleasant. 

Perhaps we’ll choose a different theme next time, we have everything from late classics to early punk. Our end project has bright squares of color, contrasting with black and white images that form a 70″ by 40″ block. We love it!

White Roofs

If the whole world used lighter roofing material it would save the equivalent energy of “turning off the world for a year.” That’s what  our Energy Secretary and Nobel laureate, Steven Chu asserted in a recent NY Times article. Hmmm, is that why the house in my neighborhood painted white their exterior brick work, then their siding, and continued up onto the composite shingles? Apparently there are modern materials to provide a more aesthetically pleasing equivalent to paint and Wal-Mart, a surprising frontrunner in adoption of green practices, has installed the white roofing on 75% of their outlets. I feel a teensy more forgiving towards my neighbors choice.  Read the NY Times article.

Winner of the Emily Jane Drawing

Just like the easy bake oven I longed for as a child, the anticipation of something can be almost as fun as the real thing. Actually, sometimes better. When I finally actually used an Easy Bake Oven- the one I had bought my daughter (wink, wink)- the gooey super sweet products were pretty half baked, and nothing close  to the promised delicacies shown on the commercials. But then, what can you expect from a cake that’s been baked with an extremely hot light bulb? It’s been a good lesson for me and the value of dreams.

For those of you who shared in the anticipation with me, thanks so much for all your fun and thoughtful comments. The winner of the drawing for the $50 gift certificate goes to a certain someone with the intials W.C. Congratulations, and enjoy your trip to Emily Jane!

I look forward to posting my final decision on my jewelry selection. I’m so glad I never got that Easy Bake when I was little, but I’m looking forward to fulfilling my grown up dreams.

Aging in Place

“Aging in Place” is a term that is becoming more commonplace. From a real estate standpoint, this usually means a one level home, or one that has a master on the main and a relatively level entry. Clients are often looking ahead for these basic features in order to stay in their homes as long as possible. New construction often takes this further, and elevators are becoming more prevalent so the entire house can be accessed, no matter the state of the owners knees and hips. Read this NY Times article to see where this trend is heading.

An Act of Protest

Tim (left) & Jerry

Business often takes my up on Skyline, a beautiful drive once I pass Cornell and can enjoy the valley views and notice how the trees are changing with the seasons. I always notice the little fruit stand on the corner of Skyline and Cornell across from Skyline Restaurant, but I’m often feeling too rushed to stop. Determined this summer to eat my share of all the wonderful fruit and berries available, at last I applied the brakes here to check out the offerings. Always one to look for amusement during my day, I had to remark to the owners of the stand, Tim and Jerry, on their bold ensembles. They explained that, tired of seeing potential customers pass by, chatting on their cellphones or off in another world- they decided that by god they weren’t going to take being invisible anymore without a fight. Hence, some of the best food stand clothes you’ll see anywhere in Portland. And how can you miss them now? Stop by and check out the fruit, flowers and honey- all seasonal and local.

Emily Jane Part 2

Emily Jane's Re-Design of Cultured Pearls

Stage two in my jewelry transformation in which I have raided the dusty recesses of my jewelry box and brought two necklaces to Emily Jane to have her way with. I have pretty much convinced myself that despite the cost of choosing two of these designs, that my Realtor skills will improve and therefore others besides myself will benefit. I am also shopping locally, re-using, and supporting the economy.

Now that I’m there, the six lovingly drawn sketches of possible designs to be have arrived, and I would welcome your choice of what your favorite is among these. A little imaginary shopping trip. Look at the designs, choose your favorite, and be automatically entered to win a $50 gift certificate for your own piece at the famous Emily Jane studio on NE Broadway at 15th Avenue. Simply reply to this blog post, leaving your comment and indicate your choice by the design number. View the sketches.

A Dubious Green Product?

For years, most of us have gotten used to strong smells in the house- and I’m not talking about your brother’s socks. From the seemingly innocuoust Pine Sol aroma that hovered in the air for hours, to the smell of fresh paint, or newly finished floors and new carpet, we didn’t have the perception of these as being potentially dangerous chemicals “off gassing” into the air we breathed every day. Interior quality is just as important as smog when you think of how many hours we spend inside.

I never would have realized as a Realtor and a homeowner  how fascinated I could become with insulation, R values, vapor barriers,or tankless water heaters and heat pumps. My “Energy IQ” classes had me going around checking my home appliances with a Kill-O-Watt.

A recent OregonLive article wonders if green broker certification is meaningful. While I have also seen my share of dubious green products, such a semi-disposable bamboo plate, my green designation does offer both my buyer and seller clients an entry into the world of green real estate, heightening my ability to point out the plusses and minuses of new construction or how to re-use an existing property, and bring it up to speed with better insulation.  Read OregonLive article and my comment.

Market Action: June 2009

No one in real estate will tell you it’s an easy time in our industry right now, but there’s no arguing with some positive trends showing in the Portland market when you look at the numbers. Inventory is one of the most important gauges, as the law of supply and demand has not overlooked the real estate market. June 2009 has us at 8.2 months, down for the fifth straight month from January’s 19.2 months of inventory.

We’re not seeing prices rise yet, in fact the average sales price is down from last year at this time by 14%. However, every month we get closer to the magical number of 6 months inventory where the balance is more equal between buyer’s and sellers- will influence the price. Sales are up from last month 24.5% and listings are down- more depletion of the inventory may continue.

Looking at a few individual markets, SE Portland reigned last month in closed sales at 240, with an average of 113 DOM (Days on Market). Let’s compare that to Hillsboro at 105 closed sales for May and 166 DOM. West Portland sales in general are down 13% from last year. This makes sense since the average price in W Portland is $421,200 compared to SE Portland at $261,300, with a large portion of the current sales with first time home buyers driving the market. 

Could there be a “trickle up affect?”  Complete Market Action June 2009.

Departure Restaurant & Lounge

I’m certain employees must past a stringent beauty test to work at the latest see and be seen lounge in downtown Portland, known as Departure. Is it Portland? Yes and no. It’s Portland, because of our recent penchant for modern and mid-century architecture. And it was designed by local Jeff Kovel of Skylab Architecture. The wow reviews he got for the design of the Doug Fir Lounge, which he also co-owns, was apparently just a warm up. Arriving by special elevator from The Nines lobby, one exits on the new 15th floor into a Battlestar Galactica walkway. When your eyes are just getting used to the dim lighting, you enter into the spectacularly bright bar area abuzz with said beautiful servers, and Portlanders dressed beyond our usual standard. If you’ve been saving a chic outfit for an occasion, it will be appreciated here. Though they call Departure a restaurant, I would confine myself to an appetizer or two and have dinner elsewhere- the offerings are tasty but precious and expensive- decidedly not Portland.  Don’t let that deter you. Get yourself up to that 15th floor, put yourself on the waiting list for the east deck with its sweeping views of the city and river and enjoy our beautiful city with beautiful people. We have one more reason to feel smug about living in Portland. See the “Galactica” entryway and more pics.

Emily Jane: Jewelry Transformation

Jane (left) and Emily

I don’t consider myself a huge jewelry wearer or a jewelry hound- in fact I find the whole process of selecting something valuable that I am supposed to like for the rest of my life quite intimidating. So I tend to wear the same pieces over and over, rarely looking into that dusty jewelry box reminding me of past mistakes. Since re-using and buying local is such good practice, I have turned to one of the few places I actually find enjoyable to shop for jewelry- Emily Jane, to refashion some 80’s jewelry into something I would actually wear.

Emily Jane on NE Broadway doesn’t put their wares, cold and aloof under a sheet of glass where one must ask to touch and only guess about prices. Instead, all the jewelry is arranged in large jewelry boxes placed around the room, inviting you to open all the little drawers like a treasure hunt and try things on as you please. A little hand lettered sign invited me to bring in dated jewelry to be turned into something wonderful here at the shop.

A flashback brings me to my years in Riyadh, Saudi Arabia. I had purchased a few pieces at the souk (market) and believing myself to be playing it safe, had chosen a single strand of pearls and a thick strand of freshwater pearls. Unworn twenty-some years later, and with my friend K along for emotional support, we brought the 1980’s spoils into the shop for Jane MacLellen and her staff to work their magic on. Sitting at the counter, Jane took note of my personal style and asked lots of questions about my likes and dislikes, eventually bringing out different materials for possible use in the transformation and staging them next to the pearls in question. I had no worries about how the assortment of chains and baubles might look, but only what I found appealing. We discussed price ranges based on my choices, which materials would eventually be chosen, and the difficulty of execution. 

The next step? In two weeks I will get to look at several sketches of each piece and make my final choice. I can’t wait to see- stay tuned. Pictures of dull 80’s jewelry begging for shoulder pads and potential new materials.

Appraisal Issues Arise

A recent Ninja conversation.

I’m sure those of you who have taken advantage of some of the recent low interest rates to refinance have discovered that even a well qualified buyer has many hoops to jump through, not the least of which is having your home appraised. Many home owners are loath to pay for an appraisal unless they are sure there are comparable properties available to support the refinance. Fewer sales recently have made that challenging, and even when found appraisers in general are much more conservative with their values than in years past.

In my business, appraisals have been affected by the Home Valuation Code of Conduct, HVCC. adopted by Fannie Mae and Freddie Mac in May of this year. To assure that lenders could not have an undue effect of valuation of a property, lenders cannot directly select an appraiser or had any substantive conversation with them regarding the valuation. While in theory, one would applaud this measure, in reality those in the field have found 1) appraisals taking longer to come in, and  2) appraisers coming in from out of state and relying on internet information to make their appraisals.

I’ve found it all the more imperative to check with lenders before writing down a closing date on behalf of buyers who are writing a purchase agreement. I’ve also been alerting both buyer and sellers to the fact that a home priced over market value is much less likely “to appraise” and proper pricing is imperative unless one hopes to sell to a cash buyer (not so likely) that doesn’t need a loan, or a buyer that has all cash doesn’t care how they throw their money around (again, in a buyer’s market not so likely).

Appraisals, and how they shape a transaction, is another important thread in the tapestry of real estate in today’s market.

Souvenir: Who Care’s What’s Inside?

My husband went on a work related “field trip” to Seattle last week and left me to figure out how the sound system works on our home theatre system. You’d think I would know after living here for four years, but that’s not the story. While in Seattle, J bought an anniversary gift for me from a small shop suitably called Souvenir on Ballard Street. The gift was wrapped in packaging several feet high and appeared to be encased in glass. It was so beautiful, I couldn’t open it while in my bathrobe, and feeling like I had to dress up to open it, I waited until the evening. I’ve never done that in my life. And seriously, I really didn’t care what was in it, it was a miracle just to look at it. Please go to Curtis Steiner’s website, the owner of this remarkable shop. A true artist, he exhibits at the Seattle Art Museum, and a video of the installation called “Blocks” can be viewed from the website- an extraordinary kaleidescope of designs that can be made from 1000 identically patterned blocks, as well as a fascinating YouTube interview with the artist.

Now that I know how to work the sound system, I think these trips are a good idea. Don’t you?

Real Estate Tip: Location, location…..

Apologies to those of you that feel Zillow is a great resource to determine real estate values, but it’s hard for a website to determine that a particular property’s neighbor has a three story baby blue house with yellow trim, or even a prison for that matter. You can update a kitchen or add a bath, but you cannot change your home’s location, one of the biggest factors in not only determining what it’s worth going in, but what it is worth when you sell it. Normally, there is a discount buying in that house next to the train station the next buyer will expect to have passed on to them when the time comes. Many clients think better of it, no matter how much extra square footage they’re going to get. This New York Times article discusses this topic in the extreme.

May Market Update for Portland

Market Action May 2009 (Read full report)

Imagine our housing market as a big supermarket. If you had walked into that supermarket in January shopping for a house with all the other buyers, at the rate of sales in January it would have taken 19 months to clear the shelves of all the inventory. You had an awful lot to choose from. May 2009 has us down to 10.2 months of inventory- less choice, but still slightly more than May 2008 where there were 9.2 months. This is good news. Less inventory is an indication that the market is stabilizing. The long held belief is the level field between buyers and sellers is at six months of inventory.

Looking at days on market (DOM) another important indicator we are currently at an average of 151 days. Last year we had an average of 79. Keep in mind that average is a range so while NW Washington County suffers with 190 DOM, NE Portland is at 96. Keep in mind that the longer DOM is an indication of several market forces: there are many short sales on the market, and those take months to conclude. There are quite a few properties that would sell if priced correctly when first listed. These homes often have sellers that are hopeful that market forces do not apply to their particular home. These homes sell after several price reductions. Then of course, there are fewer buyers in the market. They do not heed William Buffets advice of “Be fearful when others are greedy, and greedy when others are fearful.” It may not be the bottom in our housing market but it’s pretty darn close. We are still a ways from the market ascending.

Sales at my Windermere office were the best of the year, and a recent report shows Windermere leading the sales in Multnomah Country. Top Brokers Report.Top Brokers Report

Eating Simply but Extremely Well: PSU Farmer’s Market

When I buy butter at New Season’s no one asks me to feel their bicep, yet that’s just what Lisa Jacob’s of Jacob’s Creamery invited me to do when I appeared incredulous that she personally hand churns her butter for sale.  And who knew that a great pyrenees is protecting the free range chickens at Champoeg’s Organic Egg farm from death by hawk? When I asked the owner how his chickens could survive free range without the protection of a net, he simply pointed to his photo album and a picture of his dog.

For me, having my camera, some great conversations, and having the luxury of buying some of the best food available (dare I say in the world?) is fabulous entertainment. The next morning, a huge bouquet of local peonies looking like something out of a Dutch painting set the stage for a simple, delectable breakfast. Fresh eggs, with vivid orange yolks- Pearl Bakery toast slathered with Lisa’s fresh salted butter and topped off with pale delicate honey, courtesy of my food writer friend, K. When you have the best and freshest ingredients, the simple becomes sublime.  And Lisa’s bicep? Impressive! More lovely food pictures.

John Yeon: Unsung Visionary

Watzek House

A recent lecture at the AHC by LeLand Roth, Professor of Architecture at U of O and a bow-tied Randy Gragg, editor of Portland Spaces, really made into flesh this remarkable Portland native. Not only did he design homes and their gardens, at the end of his career he designed installation spaces for museums. This is not so surprising as John eschewed the modern European model of great open interior spaces, choosing instead to lay out the home on various axis, so one could move from room to room creating an experience or a “sequence of revelations.”  He had a profound respect for the relationship of the home to it’s site so it became an enhancement to the natural landscape and allow the residents to enjoy the landscape from the home, a mutual benefit.

Though not technically an architect, John Yeon designed 14 residences in the Portland area. One on SW Fairway known as Dr. Swan’s home, was luckily on the most recent Street of Eames Tour. Another known as the Watzek House, was and is internationally recognized as a groundbreaking NW Contemporary style and has been featured in the Museum of Modern Art and numerous publications. Some of the innovations in this 1936 home were a natural ventilation system, double paned windows and an interior courtyard that created a micro climate for more delicate plants.

Yeon was one of the earliest stewards of the Oregon landscape when at age 21 he bought Chapman Point which looks towards Haystack Rock at Cannon Beach, by cashing in on an insurance policy to save a dance hall from being built on it. Much later in life, he bought 75 acres on the Washington side of the gorge, saving the direct view of Multnomah Falls from looking at a probable industrial site. He then landscaped the area known as “The Shire”  over the course of three decades in a naturalistic manner to provide even more striking views of the falls. It is said that a visit to this area by Nancy Russell was an impetus for her creating Friends of the Gorge, saving it from development. John had made several appointments for Nancy and her husband to visit The Shire, only to cancel them. When at last the appointment was kept, and a full moon rose over the gorge on a lovely temperate evening, Nancy believed that John had simply been waiting for all the elements to be in place for the perfect viewing.

Both The Shire and the Watzek house have been donated to the University of Oregon by the John Yeon Trust. Hopefully there will be an upcoming book about this remarkable man. 

View more pictures of the Watzek and Swan homes.

Easy Being Green: The Leap Frog House

This special home is on the cutting edge of green features in Portland, and that’s saying a lot. The Leap Frog House is practically “off the grid”, that is to say it supplies a large part of it’s electricity, water, and heat through photovoltaic solar panels and rain catchment and filtration systems. Energy generated to heat the house, stays in the house due to a very tight exterior (envelope). Healthful air is ensured with a ventilation system. Every attention has been given to healthful living, even down to the induction range. Not only does the range top heat foods faster and more efficiently, because there is no gas involved, there are no unhealthy gas fumes. Same with the paint, and all the other materials selected for their low VOC’s (volatile organic compounds which release toxic gases over time). Countertops, cabinetry, flooring, stains and other finishes are as local and sustainable as possible. Attention was given to light coming in each room from at least two sides and ceilings are high giving a feeling of more light and space . Showers were constructed to hold in heat and encourage bathers to turn off water in between sudsing and rinsing. An unfinished area of the home offers a space that one could rent, if desired, or expand the house further. Here is a home that you can bask in the glory of being green, with most of the work already having been done for you. Close to Lewis and Clark, Tryon Creek Park and a pretty darn fast commute to downtown. The price is more approachable than last years first list price of $849,000, and has been featured in the Oregonian, Portland Architecture, Portland Spaces, and many other venues. The home is currently listed at $689,000 and I’d love to show it to you.

Nel Centro: Portland’s Riviera

Usually one would never associate Portland with a town that probably smells like sunscreen year round, but David Machado’s newest restaurant, Nel Centro is influenced by the cuisine of the French and Italian Rivieras.  I really can’t say if they nailed what they were going for with Bain de Soleil being the closest I’ve ever been to any Riviera,  but I will definitely be returning. The space feels modern and sophisticated yet playful. The use of materials is definitely influenced by the mid-century Hotel Modera, that the restaurant is attached to. Floor to ceiling windows let light in from north and south, with the south side facing a courtyard whose evening fire pits you can enjoy while having a drink at the hip and happening bar. As to our meal, the appetizers were gorgeous and the ingredients were local and at their peak. What really slayed us were our entrees. J had a tender piece of pork shoulder, bone in, a portion which will please the manly meat lover. I don’t know how they kept it so tender, but they did. The pork was served with a fruit compote that reminded me of a chutney that might fit right in at Machado’s Vindalhou in the Clinton neighborhood. My Delmonico steak was also generous and tender, but the clincher was the potato gratin- the best I’ve ever had. Luckily, you can order the gratin as a side dish, as well as a fennel gratin and pomme frittes. I have a feeling these a la carte sides are going to be destination dishes. After the substantial meal we passed on desert, but were able to take the rest of our wine out to the courtyard, finishing it next to a friendly group of young attorneys from a nearby office building. We were all very happy to have a new restaurant in SW Portland. Along with Clyde Commons, Park Kitchen and Higgens, I’m beginning to feel that downtown Portland’s food scene can hope to rival the east side. More must see restaurant, garden and hotel pictures.

April Market Action Report

Excellent news- market inventory has dropped markedly from January where we started our at a whopping 19 months. Our current rate is at 11 months, which means if no other homes were put on the market, at the current rate of sales all properties would be sold- or absorbed, in 11 months. It is generally held that a 6 month inventory is the best balance between a buyers and sellers market. In more good news, sales grew from March to April by 13%, steeper than the usual rate. Prices are on average down from this time last year by 9%. Looking more closely at particular areas, West Portland has the highest DOM (days on market) at 150, but one can also see that West Portland by far has the most new listings and competition is steep to connect with that buyer. 

Lake Oswego, Oregon City and Hillsboro are at the top of the loss in sales price from this time last year, at 9%.

Overall, NE Portland has done well with an average of 107 DOM, with year to date sales down by 27%, and the average sales price down from last year by 3%.

New listings are down overall as many builders have lost financing, and sellers that aren’t compelled to sell are holding for the time being. Every situation is different and requires individual counseling, but overall it’s a great time for first time home buyers and those who are selling and moving up into more house. Sellers needing to move for other reasons, whether because of a move, or a hardship would be well advised to work with someone that has the skill to position their property correctly in the market, and can prepare and present that property to stand out from the 14,000 other homes listed currently. You know where to find me. Read the Entire Market Action

Mother’s Day Coupon

When my kids were little, my favorite mothers days usually involved a breakfast, somewhat made by the kids, and a day in the garden- undisturbed. Times have changed and now that they’re older I concoct ways to spend time with them, this year trading in that valuable mothers day coupon for a hike in the gorge, with my most excellent husband indulging my plan as well.  We had actually wished to visit Triple Falls on the Oneonta Trail. I will only tell you that getting information on the web about a hike is not a good idea. Nevertheless, Ponytail Falls was really exciting, as you can enjoy a misty walk behind the falls courtesy of a cave scooped out in the rocks. We had our lunch with an amazing view of the Columbia, and enjoyed several types of flowers in bloom. And Portland being the small town that it is, we ran into several people we knew including B & W, making it even more of a special day. We have to get there more often. More Pictures.

Bridge Meadows Promises Hope

He told us he tried to commit suicide at age ten, in the softest, calmest voice you can imagine. Mark Mathabane, author of Kaffir Boy, held us in his storytelling grip at a benefit for Bridge Meadows, a future community for foster children in the Portsmouth neighborhood. One might wonder what a South African author that grew up during apartheid in his country has to do with the 15,000 foster children we currently have in Oregon. But the message was hope. Rhonda Meadows of Portland, made the trip several years ago to Chicago to visit a groundbreaking community that “promotes permanency, community, and caring relationships for adoptive families of foster children while offering safety and meaningful purpose in the daily lives of older adults.” Over the 14 years of the Chicago Generations of Hope, 90% of the foster children have been adopted. Rhonda brought back the concept to Portland, the city has furnished the former John Ball Elementary school site, and $3,000,000 has been raised towards the project.

Mark Mathabane didn’t kill himself those many years ago. His mother convinced him he had value. Mark painted a picture for us, years from now, where one of the graduates of Bridge Meadows will be standing before us, telling us how they discovered the vaccine for Aids, or changed peoples lives with a book they had written.

Windermere has been raising money for the last three years, through our Windermere Foundation, to fund one of the buildings at the community. I’m proud to donate part of every transaction I have to the Foundation, and to work for a company that is part of my community.

Makes Me Want to Move Here

Picture by Leah Nash for the New York Times

Portland just hit the front page of the Sunday travel section and the article really picks up on Portland’s special energy. While it’s not uncommon for me to feel a touch of irritation when an “outsider” comes in for the weekend and reports on our lifestyle as if we were some kind of  previously unknown island tribe, author Matt Gross gets a lot of things right. Frugal Portand: NY Times Article.