Owner: PDXmojo URL:http://www.pdxmojo.com Join Date: Sun, 24 Jun 2007 15:20:55 -0500 Rating:0 Site Description: Portland, Oregon Real Estate Perspective. Offering buying and selling advice, news, market activity, neighborhood updates, opinions and much more from Jody McLeod, a local real estate broker. Site statistics:Click here
Oregon Lawmakers Propose Tougher Restrictions on Synthetic Stucco (EIFS) 2007-06-21 18:21:16 EIFS stands for Exterior Insulation and Finish Systems. It is a synthetic exterior siding that looks like stucco, has been used on Oregon
homes and businesses for years and has had its fair share of issues. Proposed Oregon House Bill 2112-B is an attempt by Oregon’s lawmakers to address those issues by severely restricting the use of EIFS and reinforcing the ban on earlier versions of the product.
The problem found with EIFS is that, if it’s not installed correctly, water can seep behind the siding. In a wet climate like Oregon’s this water has no way to dry out. The moisture stays, mold grows, and the claim is, it can make people sick and potentially damage the building. In addition, it can be a perfect environment for termites to tunnel behind if installed too close to the ground. Manufacturers say the updated versions of the product no longer have the same issues as before.
If you are considering buying a house with synthetic stucco on the exterior be sure to Read more:Tougher
, Restrictions
, Synthetic
Portland Development Commission Helps Oregon Homeowners with Home Improvement Loans 2007-06-21 01:15:47 Portland, Oregon
has a great program for helping homeowners afford to make home improvements to their home. The Portland DevelopmentCommission
(PDC) offers low-interest loans where you can refinance your home at a 90% loan-to-value (LTV) ratio, based on the after-improved value of your home? Cool, huh?
Let’s say your home, as it stands now, is worth $250,000. You then add to that number to the estimated cost of renovations, let’s say $50,000, giving you a total of $300,000. A 90% LTV means that you borrow a total of $270,000 to complete your repairs. And unlike PDC’s other types of home improvement loans for necessary repairs, this type of loan is not confined to specific neighborhoods, may apply to any area in Portland city limits, and there are no income limits for qualifying. In addition, the rates are based on current market rates (a 1.75% loan fee applies, but can be financed with the loan).
However, there are some guidelines that must be met (aren’t Read more:Homeowners
, Improvement
, Loans
PDXmojo Adds New Portland, Oregon Property Search Tool 2007-06-19 20:06:23 I am delighted to announce the availability of a new search tool for homes within the Portland, Oregon
metro area on my website, PDXmojo.com
It’s simple. Fill out your name, email address, price range, phone number (not required) and then click on the areas/neighborhoods you wish to search. (Use the magnifying glass tool to drill down to neighborhood levels). Your choices will be added to a box to the right of your name and email address. After you have added all the desired neighborhoods, click the SUBMIT button.
Shortly after submitting your choices, you will receive an email linking you to an interactive map of listings within your price range in your chosen areas. By moving your cursor over the icons, you can view a thumbnail image of the property, its price, and bedroom/bathroom combinations.
A click on the subject property brings up more details about the home, including the address, additional pictures, and comments about the property. You can ask for a viewing of the proper Read more:Search
Portland Ranks Highest for Biking to Work - Naked? 2007-06-15 18:15:53 Portland is a bicycle riding town, to be sure. Many Portlanders commute to work on their bikes daily, rain or shine. In fact, according to a report from the U.S. Census Bureau, Portland, Oregon has the distinction among large cities as having the highest percentage of bicycle commuters. Approximately 3.5 percent of Portland’s workers pedal to work, about eight times the national average of 0.4 percent.
Here are the other cities that ranked in the top 10:
Portland (3.5%))
Minneapolis (2.4%)
Seattle (2.3%)
Tucson, AZ (2.2%)
San Francisco (1.8%)
Sacramento, CA (1.8%)
Washington, D.C. (1.7%)
Oakland, CA (1.5%)
Honolulu (1.4%)
Denver (1.4%)
However, the bicyclists I have seen in Portland ride with their clothes on - until recently.
You may (or may not) have heard of the World Naked Bike Ride (link warning - nudity alert!). Well, a couple of days ago hundreds of Portland bicycle riders were seen riding, en mass, over the Hawthorne bridge and through downtown, NAKED.
Why Read more:Ranks
, Biking
Sell Your Home Faster and Make More Money with Landscaping 2007-06-14 01:25:17 When a buyer drives up to a home for sale what is the first thing they will see? The new granite countertops in the kitchen that cost an arm and a leg? The gorgeous light fixtures that took 6 months to pick out? How about the fresh new carpeting that replaced the 70’s green shag? (Yeaah, Baby!)
Well, if you think that buyers are only concerned about what’s inside a house, then think again. It’s the outside that pulls a buyer into a home. It’s the home’s curb appeal - the paint choices, upkeep of the home, and the YARD that first gets their attention.
As a seller, you want buyers to drive up and say “Oooh, that looks cute!” or “Wow, I can’t wait to see inside.” Most buyers wish lists don’t actually include a line item specifying ”It must have a nice yard,” but I’ve seen buyers turn the other direction because of yucky curb appeal - and the yard played a big part in their disapproval Read more:Money
, Landscaping
Sewer Lines Should be Checked When Buying an Older Portland Home 2007-06-09 16:27:17 Old homes are great. They have charm, detail, character, and sometimes old sewer pipes. Clay pipes. The kind that can crack, leak, and have roots growing in them.
When buying an older home I always recommend my clients get a sewer scope done on the house, especially if it was built before 1970. For about $150 you can have the sewer lines inspected and be armed with the knowledge that either:
The sewer lines are clean and crack free.
Some repairs need to be done and you may opt to use it as a repair negotiation item.
The findings show the sewer lines require substantial repairs that you don’t want to deal with and you can choose to walk away.
When getting a sewer inspection, it is important to have it done by a professional. By professional I mean a plumber or sewer specialist who is licensed, has the proper equipment and has the know-how to check the pipes.
These folks use a nifty camera that can be pushed through the sewer line to see if any problems exist Read more:Sewer
, Lines
, Buying
Portland Real Estate Market Activity - First Quarter 2007 2007-06-06 23:22:54 Summer is upon us (and the kids are almost out of school - OH MY!). For some of you who might be considering a move the time to look is now, especially if you have kids that will be transferring schools. The Portland housing market has shifted a bit, but is fairing well compared to much of the nation. Buyers have gained more of an advantage; more inventory means more choices and, on average, houses are taking longer to sell. However, homes are still appreciating at a fair pace, with only a couple of areas showing a noticeable slide backward.
Average Days on Market
Month
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
This year
41
39
38
39
41
47
51
55
65
66
65
58
Last Year
41
41
37
37
36
36
38
41
44
47
45
41
Year to Date Appreciation and Average Sale Price
Area
Appreciation
Average Sale Price
North Portland
12.00%
$263,000
Northeast Portland
10.40%
$307,400
Southeast Portland
12.90%
$278,900
Gresham/Troutdale
14.90%
$281,900
Milwaukie/Clackamas
12.60%
$341,300
Read more:Estate
, Activity
, First
New Home Builders Taking Old Home Trade-ins 2007-06-06 19:48:17 Although I haven’t seen this practice in Portland yet, some new home builders across the country have turned to a new tactic to move their product in this changing real estate market - the trade in. Yes, in some areas where over-building has taken place and the market has slowed, just as you can do with your old car, you can trade in your old home.
Home Trade
-in Basics (these vary from builder to builder):
The new home must be at least 20% more expensive than the current home.
Home-owners receive a trade-in value on their old home from 85-95% of their current home’s appraised values.
The buyer pays the difference between the homes.
The builder then rehabs the old home and sells it.
I can see that there might be pros and cons to this type of transaction:
Pros
The home-owner doesn’t have to try and carry two mortages.
There is no need for the home-owner to market the current home and wait for a buyer to come along in a slow market.
The current home-owner does Read more:Builders
, Taking
, New Home
Portland Ranks High in Real Estate Appreciation Forcast 2007-06-03 20:53:43 Housing Predictor.com, an independent real estate market forcaster, has ranked Portland, Oregon as 13th in their list of top 25 appreciating US Markets. This supports what many local real estate professionals have been saying over the last few months - Portland is not following much of the nation in the real estate slump. The general consensus in the local market seems to be that the NW region will open our umbrellas and stay dry during this “bursting real estate bubble.”
Top 25 Appreciating US Markets
Rank
Real Estate
Market
Median
Price
2007 Forecast
1.
Albuquerque, NM
$194,000
9.1%
2.
McAllen, TX
$112,000
8.9%
3.
Salt Lake City, UT
$241,000
8.6%
4.
New Orleans, LA
$152,000
8.4%
5.
Austin, TX
$174,000
8.2%
6.
Houston, TX
$148,000
7.8%
7.
Seattle, WA
$ Read more:Ranks
, Real Estate
Pardon the Echo - I’m Still Unpacking! 2007-05-31 12:49:48 Welcome to my new website. As you can see, I have just moved in and the space looks pretty empty (I’ve hidden all the stuff I need to unpack). However, it won’t be long until I settle in and get things where they belong. As with anybody who just moved in, I’m still in the re-arranging stage, but my goal is to be a resource for Portland home buyers (or potential residents of PDX) and sellers.
On future writings, I will be sharing my professional opinion regarding our local housing market, posting real estate stastics (for those of you who like analyzing the numbers) and summaries of various Portland neighborhoods (for those of you who are not so into numbers).
I also plan to post local school information as well as information to help you navigate the real estate process, such as your financial options, changes in laws that may affect you, buying/selling tips, and a searchable database of homes for sale in the area.
So, I better get back to unpackin Read more:Pardon
Overheard in PDX - Eavesdropping on Portland, Oregon 2007-07-04 17:32:18 We’ve all done it.
At least I know I have. Eavesdropped. Listened in. Paid too much attention to a conversation that I have not been invited to join.
It’s what people do. When sitting on a bus or a train, standing in line, or seated in a crowded restaurant, one can’t help but overhear surrounding conversations. And some of the things people say are pretty amazing and, of course, not always “G-rated.”
Now, thanks to Portland blogger Rich Brueckner, you can read what people overhear while out and about in PDX. Snippets of local conversations are posted by eavesdroppers, and sometimes not-so-willing audiences, on Overheard in PDX. Here are some recent examples:
California girl: “This is a great mall. Dude, I’d LOVE Portland if I didn’t have so much family here.”
— Lloyd Center
Two grandmotherly women discussing one of the employees:
Grandmother 1: “Did you see that she has an earring in her tongue?”
Grandmother Read more:Oregon
Resources for Portland, Oregon First-time Home Buyers 2007-07-02 16:49:51 Where do you turn to find information when you are a first-time home buyer in Portland? If you are a newbie to the home buying arena, the amount of information can be mind-boggling, if not a bit overwhelming. What are the basics you should know when buying a home? Are there any loan programs available for first-time buyers? What do you need to watch out for? What is escrow? What is closing? ACK!
A couple of days ago I was reading the Portland Tribune’s ReTHINKING PORTLAND insert and there was a great article explaining the many resources available to first-time buyers. Here is a quick listing of the organizations to help you navigate the home-buying maze:
Oregon
Housing and Community Services - Lower income loan programs from Oregon.gov, including the Oregon Bond Program
Portland Housing Center - Non-profit. Offers home-buying classes and workshops for buyers and has counseling available for folks regarding credit issues and financial questions.
Portland Community La Read more:Resources
, First
, Buyers
Mortgages - Understanding Home Loan Lingo 2007-07-05 13:41:55 Unless you have purchased a home before, you might not understand all of the acronyms and jargon that gets tossed around in the home-buying process. Points, ARMS, LTV’s - this can all sound like a bunch of gobbledygook unless you study up a bit.
Here are a couple of mortgage terminology sites to help get your feet wet so you can concentrate on more important things - like searching for your new home!
Mortgage-X: Mortgage Information Service
Loan Lingo
from Credit.com
Photo by Eyelens
Technorati Tags: Mortgage, home loan, lingo, terminology, buy a home
Bookmark to:
Read more:Understanding
Portland, Oregon Metro Appreciation Rates 2007-07-18 16:41:40 According to the most recent statistics from RMLS (Regional Multiple Listing Service) Portland is still appreciating, but the amount of appreciation has lessened from last year. It seems Portland has run it’s course of skyrocketing home prices and has begun to normalize itself. Thankfully, we are still fairing better than much of the country.
Below is a map showing the appreciation rates in various parts of the Portland metro area. Click on a marker to see the percentage of appreciation compared to this time last year for that particular area.
Center of map
map
North Portland, 10.4%
map
NE Portland, 7.7%
map
SE Portland, 10.6%
map
Gresham/Troutdale, 13.4%
map
Milwaukie/Clackamas, 10.3%
map
Oregon
City/Canby, 6.5%
map
Lake Oswego/West Linn, 12.6%
map
West Portland, 4.3%
map
NW Washington County, 4.5%
map
Beaverton/Aloha, 4.2%
map
Tigard/Wilsonville, 3.9%
map
Hillsboro/Forest Grove, 11.7%
Other areas not listed on the map are Mt Hood: Govt. Camp/Wemme at 12.3%, Columbia County Read more:Rates
Portland Makes AARP’s Top 5 List of Retirement Communities 2007-07-24 21:55:51 Once again, Portland has made a list of desireable places to live. This time we have made AARP’s top 5 list of communities Baby Boomers should consider as a retirement spot. Here is the author’s (Sarah Mahoney) list of Portland’s strengths and weaknesses:
Lifestyle vibe: European charm meets environmental nirvana
Fitness fix: Miles of safe bike lanes
Retirees love: The Pearl District
Retirees hate: 155 rainy days a year
Median housing price: $280,800
Average temperatures: 39.9°F (January) and 68.1°F (July)
Other communities to make the list are Atlanta, GA; Chandler, AZ; Boston, MA and Milwaukie, WI.
Technorati Tags: Portland Oregon, AARP, retirement, top 5 list, Sarah Mahoney, nirvana, places to retire
Bookmark to:
Read more:Communities
What is the Walk Score of Your Portland Home? 2007-07-24 11:48:22 If you’ve lived in Portland, Oregon for any length of time you most likely already know the “walkability” of your home in relation to nearby stores, restaurants, schools, parks and the like. But what do you do if you are considering a move to a new home and a new neighborhood - maybe even to a new city - and you want to know if walking to a nearby shop or business is possible?
That’s where Walk Score
™ can help. With a few keystrokes it can show you how a particular address rates on a score from 1-100 for it’s walkability. Walk Score™ uses a patent-pending algorithm to calculate the walkability of an address based on:
The distance to walkable locations near an address.
Calculating a score for each of these locations.
Combining these scores into one easy to read Walk Score.
The results are then displayed on a Google map. Nifty, eh? I will certainly be sharing this site with my out-of-town home buyers. Be patient after entering an address - it take
Painting Your Home - Choosing Colors Online 2007-07-26 04:00:39 Have you been putting off painting that kitchen/bathoom/bedroom because you know how hard it can be to choose colors?
There have been so many times that I have picked a color (after agonizing over it for a week or so), bought the paint, slapped it on the walls, stepped back to admire my handywork and heard myself say “Yuck! It looks like baby poo/swamp muck/a 60’s flashback!”
Well, now there is help at hand. Before you go and plop down that $20-$45 for a can of paint you can research your perfect color online, and even test them in cyberspace rooms. Many paint manufacturers have small paint sample packets that you can test on your walls, but choices are limited and they often run out of the most popular colors. However, with the online paint selection tools you can choose a ready-made color pallete or let the artist in you go wild by trying new color combinations.
Here are some the tools I have found online; some require you to register to use them, but are really Read more:Painting
, Colors
Portland Building Permits and Inspections 2007-08-16 20:05:54 In case you don’t already know I’m an avid remodeler. Perhaps you have considered picking up the hammer and screwdriver and creating some havoc in your home by doing some remodeling yourself. Do you know what jobs require a permit? How about what process you need to go through to obtain a permit? How does the inspection process work and who do you call?
While browsing the City of Portland’s Website the other day I came across this great document entitled, “Guide to Permits and Inspections.” It’s full of useful information for the home remodeler.
To find answers to the questions above (and more) click here . Enjoy!
Technorati Tags: Portland Oregon, permits, inspections, City of Portland, remodeling
Bookmark to:
Read more:Building
Reforms and Changes Coming to FHA Loans 2007-10-18 15:36:30 Today’s post comes from Andrew Loumena, a mortgage broker with Evergreen Home Loans
in Portland. He has news to share about FHA loans and potential upcoming changes to the program.
———————————————————————————————————
Don’t believe you can qualify for a home loan? Don’t fit in the conventional box? In over your head? Have less than perfect credit?
Well, FHA can help!
What is FHA you ask? FHA stands for the Federal Housing Authority http://www.fha.gov/; this home loan program is run by (HUD) http://www.hud.gov/, the U.S. Department of Housing and Urban Development. The FHA loan program has insured nearly 34 million homes since its inception in 1934 though FHA-approved lenders. Here are some important details on the FHA Loan Program:
• Low down payment Read more:Reforms
The Best of Portland Craigslist - Rants, Raves and Keeping Portland Wierd 2008-03-11 13:05:27 I’m not sure whether to thank or curse Kab over at Good Stuff NW for introducing me to The Best of Craigslist in her last blog post. It is such a hoot reading the posts, but be careful, it is easy to waste waaaaay too much time here.
I decided to focus the list [...] Read more:Wierd
First Time Home Buyer Guide - Step #3 - But I WANT a Pool! 2008-03-10 14:57:54 You may want a pool, but do you really NEED it? Today I am continuing the First
Time Home BuyerGuide
series. Topic #3: Deciding Your Needs and Wants in a Home
As mentioned in previous posts, if you have already had the pleasure of purchasing a home, this guide may not be for you. [...] Read more:First Time
First Time Home Buyer Guide - Step #2 - The Mortgage 2008-03-06 17:11:23 Once you have gotten your financial house in order it is time to go on to the next step - obtaining a MORTGAGE. (Click player for sound effect)
First
Things First
Before you even start your search for a home, you should first find someone who will lend you the money (unless you are paying all [...] Read more:Buyer
, Guide
, First Time
, Mortgage
First Time Home Buyer Guide - Step #1 - Finances and Resources 2008-03-05 14:29:19 For those seasoned buyers out there, you might not need to read this post. However, for those first time home buyers out there, read on. I have written a step-by-step guide to buying a home that I hope will help you in this exciting, if not a bit intimidating, process. The guide will be [...] Read more:First
, Buyer
, Guide
, First Time
, Resources
Green Living - What is a Green Home? 2008-02-29 16:44:40 The term “green” has been tossed around a lot lately and it seems to be filtering in to all parts of our everyday life. It makes sense then, that in my line of work, the question I hear most often is, “Just what is a green home, anyway?”
Here’s the “elevator speech” example explaining a green [...] Read more:Green
, Living
Portland, Oregon Real Estate Appreciation, 2000-2007 2008-02-26 14:05:45 An article out today by Ryan Frank from the Oregon
ian gives a run down on the latest S&P/Case-Shiller Index. Yes, the nationwide housing market is spiraling downward and the numbers listed in these latest reports only back up what we already know. This kind of data makes home sellers cringe and home buyers [...] Read more:Estate
Rental Rates in Portland Area - How Much Will You Spend? 2008-02-22 04:15:01 Wondering how much rental rates are in Portland, Oregon? I occasionally get asked this question from out-of-state clients who are going to move here and rent before they buy. Zilpy gives you median rental rates for different neighborhoods and will even give you rental data for particular block areas. They break it down [...] Read more:Rental
, Rates
America’s Most Livable City - A Video About Portland 2008-02-21 14:20:58 Here’s a nice video celebrating Portland, “America
’s Most Livable City”. It was done by StreetFilms and it’s about 30 minutes long. So, grab yourself a cup of coffee and settle in to learn more about why Portland is such a great place to live.
If you don’t see the video box below, you can view [...]
Portland Oregon Real Estate Market Activity - January 2008 2008-02-15 20:53:07 Portland area median prices - January
2008
Yes, the numbers are confirming what many of us already knew: things have slowed in the Portland market.
Reports are out today show that Portland’s real estate market has a 12.8 month inventory of homes. What does that mean? Well, if no new listings were taken as of today [...] Read more:Estate
, Real Estate
, Oregon
, Market
, Activity
COTE Greenbag Lunch - Rainforest Wood Use in Green Building 2008-03-11 00:00:54 I just heard that the Committee on the Environment (COTE) will be holding greenbag lunches every second Wednesday of the month at the AIA Portland Center for Architecture (403 NW 11th Avenue), 12:00 noon -1:00 pm.
Next Green
bag: Wednesday, March 12th
Topic: Falling through the Cracks, Rainforest
Wood Use in Green Building
COTE is committed [...] Read more:Lunch
Recommend Site To A Friend
