What's causing the slow down of Portland's real estate market? Millennials growing up or city policy decisions?

We’ve all been caught in a whirlwind of changes to our dear city.  Serious traffic, homeless camps, increasing cost of living to name a few.  While we enjoy the booming economy and abundance of jobs, the changes to our daily lives have not gone unnoticed.  Everyone has been asking for months (maybe years) how much more can the city grow?  We may have finally reached our plateau.  

According to Elliot Njus article in The Oregonian on June 26, 2018 “Portland area’s home prices climb slower in April than those of the anti as a whole for the first time in more than 5 years”.  At Nurture Realty, we’re watching this with a very careful eye & adjusting our expectations accordingly. This type of slowing requires careful monitoring and continuous communication with our active seller clients.  In Elliot Njus previous article from June 18th he says “Homeowners looking to sell, having watched the red-hot run of recent years, are still adjusting to the slower gains.” 

Everyone seems to have an explanation for the market change and most agree it’s the slow down in people moving to Portland.  Taxpayer Foundation of Oregon’s article in the Oregon Business Report states “One likely factor is the aging of the Millennial generation. As members of this mini Baby Boom enter their thirties and look to buy houses and raise families, they seek out suburbs and more affordable metropolitan areas.”  Also noted in the article are increasing taxes, commute times, and burglaries; in addition to underperforming schools and the ever present homeless camps.  

In 2011, the writers of Portlandia claimed Portland is the city where 30 year olds go to retire.  I don’t think they saw this coming. 

Picnic Music Line Up! New Start Time - 2 PM!

Hello, everyone!  I know you're all curious to find out about this years entertainment schedule so here it is!  We've got a full day of music and performances in store for you!  So much in fact, we decided to move the start time to 2 PM!  Snacks available from 2 - 4:30 then we'll have the full BBQ Buffet open!  Bar will be open for the entire event!

2 - 3 PM - Gentle Creatures Performing original compositions and creative arrangements of classic folk tunes.  

3:15 - 4:15 PM - Circus Magician will thrill us with tricks then teach some basics of circus arts.  

4 - 8 PM - Bounce House will be in full swing  - we will have an attendant monitoring the area this year!  Don't forget your towel, it's a water slide!

4:30 - 6:30 - Face Painting 

4:30 - 7:30 - 2 full sets of Ben Larsen!!!  

7:30 - 9 - The Satisfactions (ft. Jeff Sechs of Boys to Gentlemen and Thomas Clifton ) will finish the night off with some funk and R&B classics to get our dance on!

How Many Eggs did Eric Crack?

72!  That's a personal record!  We had a great experience cooking and serving breakfast at the drop in Center at New Avenues for Youth!  It was eye opening to meet some of the young people they support and seeing all of the programs available to help them reach to a better future.  We will be planning more volunteer opportunities in the future, let us know if you'd like to join!  

www.newavenues.org

 

Host a Successful Open House!

 

Article By: Suzie Wilson  

Author of The Ultimate Guide to Prepping Your Home for an Open House

 

After the last wall is painted and tile laid in your series of home renovation projects, congratulations… You’re almost done. The last step to knocking the resale process out of the park is hosting an open house. Such an event is an effective way to get several potential buyers through your front door to behold your newly polished home, but is one that will require some extra preparation. Staging and tour-prepping your home in anticipation of the open house is a must.

To feel inspired to purchase your home, buyers must be able to envision how they and their family will make use of the space. Your home should appear inviting, but not too lived-in. Follow the guide below to guarantee the perfectly staged home and a successful open house event.

The necessities

First, take a look at your home’s curb appeal. You get one chance to make a first impression, and if potential buyers don’t like what they see as they drive up, the decision will already have been made by the time they have arrived inside. In preparation for the open house, trim your lawn, prune your shrubs and weed your beds. These small tasks will make a world of difference and keep interested buyers landing at your doorstep. According to landscape economist John Harris, yard maintenance can contribute to 28 percent of your home’s overall value.

Next, it’s time to declutter. Note that cleaning and clearing clutter are distinctly different. You can dust your knickknacks endlessly, but they will still distract buyers. Don’t risk open house attendees being turned off by an excessive amount of appliances covering kitchen counters, piles of magazines littering living room surfaces and clunky furniture occupying every square inch of extra space.

There’s a simple remedy: Start packing! You’re moving anyway, so get a head start by boxing up and storing anything you don’t need in the short term. And, don’t forget about the closets, spaces under beds, cabinets and the garage. Storage utility is a vital selling point to any property. Cluttered nooks and crannies give the impression that a home lacks necessary space for storage.

After the clutter is cleared away, then comes the floor-to-ceiling deep clean. The dust, stains, scum and smells you’ve grown accustomed to over the years will call out to your potential buyers like sirens. It is best to hire an outsider with fresh eyes for mess and professional products to tackle it.  Most homeowners spend between $115 and $227 on cleaning services. This is a relatively cheap and labor-saving option will ensure immaculate spaces that delight buyers.

In the event of a last-minute stink emergency, try these quick fixes:

Push ice cubes with salt and frozen lemon peels down the sink to clear the smell of rotting food.

Pour a bit of cheap vodka into a spray bottle and lightly mist your carpets. When the alcohol evaporates, it will take the stench with it.

Go the extra mile

For an unforgettable open house event, make your home appear to be inviting and as a blank slate for the new chapter in another family’s life by following these tips:

Remove family photos to provide buyers the vision of a neutral field in which they can plant their own roots.

Set your dining room table for a nice meal to encourage buyers’ envisioning entertaining friends in your home.

Keep the indoor temperature comfortable and open the curtains, highlighting your home’s best features with warm, natural light.

Provide refreshments, such as water, soft drinks and cookies to make buyers feel comfortable and willing to stay longer.

Leave. Buyers will feel more at ease and able to question your agent without your hovering. Find something fun to do away from home during the open house event and take your pets with you.

Following through on the aforementioned tips that commonly go overlooked when preparing for an open house will guarantee that your home is appealing and memorable to potential buyers.

Photo Credit: Pixabay

 

Volunteer Opportunity with Eric & Shanan! Who wants to join us?

Hello Friends, Shanan here!  Eric and I are signed up to prepare and serve breakfast at New Avenues For Youth on Tuesday July 3rd from 8 am - 10 am.  As part of their drop in services, New Avenues for Youth offer 3 meals per day.  Below is a description from their website explaining all of the services provided at their drop in center.  There are 2 additional spots available if anyone would like to join us!  

"New Avenues’ Drop-In Day Services Center is a safe space where youth experiencing homelessness can receive three meals a day, six days a week, as well as access to showers, laundry, clothing, drug and alcohol recovery and mental-health supports, computers and internet, free legal counsel, monthly veterinary clinics for those with pets, and engagement activities focused on skill-building, music and art, health and wellness, recreation, and self-empowerment. Our Drop-In staff also connect youth to other wraparound supports (education, job training/placement, culturally specific services, housing, and more) that help them exit homelessness and prepare for the future."

New Avenues for Youth!

Hey, friends and community members!  You've heard us mention New Avenues for Youth and have participated in the raffle to raise funds for their organization at our annual picnic, but do you know what they do?  Below is a link to their website to get an idea of their mission and the amazing things they are doing for kids that need support.  We'll announce raffle prizes for this year's picnic over the summer so keep an eye out for those and please support the businesses that support our fundraising efforts.  It takes a village and our village is pretty extraordinary!  

http://newavenues.org

 

 

Nurture Realty’s “Best Outdoor Patio Dining in Portland”

Bollywood Theater

3010 SE Division St

Kitchy Bollywood decor on the inside, cozy string lights on the patio. Bollywood’s patio is one of our ten most favorite places to spend a hot summer night. Try the Kati Roll and the Bhel Puri. 

Photo Credit: 
http://www.bollywoodtheaterpdx.com/


Departure

525 SW Morrison St.
http://departureportland.com/

If you want to talk outdoor dining with a view, Departure has held the top slot since it opened five years ago. Fifteen stories above downtown Portland, Top Chef star Gregory Gourdet serves up his brand of modern Asian cooking to panoramic stretches of Forest Park and endless blue sky. The restaurant’s 9,000-square-foot patio is best visited just before sunset. Perfect for Girls’ Night Out! 

Photo credit:
http://departureportland.com/


Ecliptic

825 N Cook St
http://eclipticbrewing.com/

The name Ecliptic Brewing unites John Harrison’s two passions:  brewing and astronomy.  The ecliptic is earth’s yearly path around the sun.  The centerpiece of our pub, a massive light fixture in the shape of the Analemma, represents our path through the seasons; we celebrate this journey with beer and food menus in constant change and rotation throughout the year.  Our seasonal menu rotates every 6 weeks on the old world calendar:  Samhain, Winter Solstice, Brighid, Spring Equinox, Beltaine, Summer Solstice, Lammas and the Autumnal Equinox.


Noble Rot

1111 E Burnside St
http://www.noblerotpdx.com

Another well-loved destination for sunsets, Noble Rot has magnificent views of the city’s west side from just across the river. Grab a bottle from the wine bar’s 300-bottle list, order an extra-sharp mac and cheese with a spike of Dijon mustard and a crunch of bread crumbs, and watch downtown Portland’s glimmering buildings come alive at night.

Photo credit: 
http://www.noblerotpdx.com


Clayton’s casa 

When asked with the impossible task to name Clayton’s favorite patio his reply was simple “Home patio? Lots of plants, shade, and a competitive game of corn hole. And berry picking, sunshine, sprinkler to run through, baby time, hot tub and serving up margaritas…..!” Hmmmm…Welcome to casa Peirce-Pettit


Mariwether’s

2601 NW Vaughn ST.
https://www.meriwethersnw.com/

Meriwether's lush gardens are the perfect setting for everything from outdoor dining to special occasions large and small. Three distinct garden areas designed by Margaret de Haas van Dorsser, a renowned local designer specializing in all-season gardens, including a sunken patio, a meandering circular garden and a gazebo with a fire pit. 

Photo credit:
https://www.meriwethersnw.com/


Sudra

2333 NE Glisan
http://www.thesudra.com/

Perfect for an 80F summer night. Sit under the orange awning and order some of our favorites, the Peacock salad and the Kofta plate. This is neither your typical vegan fare, nor your average indian food. Simply yummy…..

Photo credit:
https://www.facebook.com/sudraforever/


Aalto Lounge

3356 SE Belmont ST
http://www.aaltolounge.com/

Aalto Lounge is a neighborhood bar proudly serving the Belmont area since 2000. Named for Finnish designer, Alvar Aalto, the space features mid-century/modern decor throughout the bar, adjoining back room, and outdoor patio.  The cocktail list is spirit-forward, with an emphasis on classics, quality ingredients, and preparation. Come for Aalto’s famous $2 Happy Hour

Portland market action report

June Residential Highlights                        

The Portland metro area saw an uptick in new listings this June. The 4,501 new listings were a 5.2% increase over June 2015 and a 8.6% increase over last month in May 2016. It was the strongest June for new listings since June 2008, when 5,213 were offered for the month. 

Closed sales (3,158) outpaced May 2016 (2,896) by 9.0%, but showed a 4.4% decrease compared to last year in June 2015 (3,302). 

Pending sales (3,390) were cooler in June, falling 6.0% short of June 2015 (3,605) and 4.9% short of May 2016 (3,563). Inventory edged higher in June to 1.5 months. Total market time decreased to 33 days. There were 4,762 active residential listings in the Portland metro area this June.

Year to date summary

Activity has been mixed in 2016 compared to 2015. Closed sales (15,468) are up 2.2%. New listings (21,903) are down 0.3% and pending sales (17,857) are down 2.2% for the year thus far.

Average / Median Sales Price                

Prices continue to rise in the Portland metro area. Comparing 2016 to 2015 through June, the average sale price rose 11.8% from $347,900 to $388,800. In the same comparison, the median sale price rose 13.3% from $300,000 to $339,900.

Oh, by the way… if you know of someone who would appreciate the level of service I provide, please call me with their name and business number and I will be happy to follow up and take great care of them.