Real Estate Blog - Blog Archive: May, 2015

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May 2015

Found 4 blog entries for May 2015.

I got a call a couple of weeks ago from a friend who I had not spoken with in a while. He was into a project and called for advice. 

Three years ago we helped him purchase a home in the Arbor Lodge neighborhood for around $270,000. He recently re-financed and learned from his appraisal that his home has appreciated by at least $100,000. Now he wants to invest this equity into an ADU (Accessory Dwelling Unit) in his back yard that he can rent out. He asked what I thought, so I crunched some numbers. By my calculations, he'll be able to collect enough rent to cover his entire PITI (principal, interest, taxes, and insurance) payment each month--enabling him to live for free! Pretty good use for his home equity, wouldn't you say?

The Tiny House

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Bidding contests for home buyers in Portland are getting insane. Just this past week, 25 prospective buyers bid on a starter home in the Creston-Kenilworth neighborhood, located in inner southeast--north of Reed College and south of Powell Blvd. The sellers and their agents presented the home perfectly to the marketplace and got a winning offer about 20% over list price. Incredibly, that's 67% above the sellers' original purchase price three years ago.

In terms of square footage, this house sold for roughly $360 per square foot. With approximately one-third of the home being an unfinished basement, accessible only from the outside, the price per square foot of the interior of the home then was nearly $550. Unbelievable! You'd think this home was in a

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WHHOOO HOOOO!!! Flowers are blooming, we're seeing more sun, and people are coming out to enjoy all that is awesome about this city. It's nearly summer and never is there more to do in the City of Roses than this time of year. If you're a long-time resident, you've likely got your favorite summer traditions and memorable places to chill out. Portland newbies are in for a treat! You'll have a blast exploring the many festivals, events, outdoor recreation, and family activities our city offers.

We at Portland Home Team are locals too! We're parents, outdoor enthusiasts, foodies, party-goers, and music lovers as well. To turn you on to just a few of the things you can do during summer, we bring you some of our favorites.

Festivals and Fairs


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Portland's urban density has been on our minds a lot lately. With an exploding population and numbers like 750,000 predicted by 2050, we can't help wonder how the city will manage that growth. Where's everybody going to live? And how are we going to maintain our sustainability? Some worry that we're on a fast track to becoming the next San Francisco. Demand for desirable housing is rapidly exceeding supply and the rental market is skyrocketing to insane rates. No wonder people are concerned.

But the fact is, Portland's city core is not that dense compared to other West Coast cities. Current data ranks us eighth in persons per square mile. Our 'burbs are taking up the slack. We're seeing a tremendous housing boom, but a lot of new construction includes

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