Real Estate Market Report
January by the Numbers
- Portland Area Months of Inventory: 2.2
- Portland Area Avg. Sales Price: $436,500
- YTD Average Sales Price increased: 7.6%
- Portland Area Closings decreased: 3.7%
- Portland Area New listings decreased: 53.7%
- Average market time: 60 days
City of Portland Home Energy Score – 2018 Update
As you may have heard by now, the city of Portland home energy score requirement is in full effect. Well, how is it going? The way the city of Portland home energy score – scoring – is supposed to work is a “5” scored home is average, a “10” is in the top 10% of homes in energy efficiency, and a “1” is in the bottom 10% of energy efficiency. So far, this does not seem to be the case. In an article written by Gary F. Kristensen at A Quality Measurement, he analyzed the first 100 Portland energy scores and found that the Portland energy score average is 4.67. He also noted what will be a surprise to most homeowners, the bigger the home (in general) the lower the score will be. Per City of Portland rules, the score is supposed to be available online, in the local MLS (RMLS here) and on other online real estate sites and the score is supposed to be printed out an available inside the home for sale. So how are real estate agents doing?
Click the link below for more detailed information:
Source: realestateagentpdx.com
Rental Market Report
Rental News
Portland Mayor Flip-Flops On Small Landlords Exemption
After first saying he wanted more study on the issue, Portland Mayor Ted Wheeler now favors removing the exemption for small landlords who own only one property and require them to pay moving expenses if they evict a tenant for no-cause or increase rent more than 10 percent, according to reports.
Wheeler said in a statement last month more information is needed before he would support removing the exemption for landlords who own only one property.
“I have also heard concern about the effect that removing the exemption would have on the market and on Portland landlords that only have one unit. But assumptions don’t make good policy,” Wheeler said in the statement. “Consequently, I have instructed PHB to refrain from amending the one-unit exemption at this time.”
However Michael Cox, Wheeler’s deputy chief of staff, told the Portland Mercury, “The mayor’s going to announce to that group that his preference is to remove the one-unit exemption and replace it with an exemption for ADUs and owner-occupied duplexes.”
Last month a new research study recommended Portland remove the exception for small landlords who own only one property and require them to pay moving expenses if they evict a tenant for no-cause or rent increases over 10 percent, according to reports.
Click the link below for more detailed information:
Source: rentalhousingjournal.com
Thinking of Buying or Selling in 2018? Let us help!
February Homework
Check Your Crawlspace
Check your crawlspace! It is a good idea to check the crawlspace in your house at least once a year. Look for any signs of pests like mice, termites, ants, or other critters that may have invaded the space. Look for any signs of water. Moisture in the crawlspace can damage the structure of the house if not managed properly. Check foundation screens and make sure they are all in place and not damaged. Check ductwork and make sure that everything is off the ground and supported properly. Check the vapor barrier that should be covering the ground. If it has pulled away from the foundation or has holes, repair as needed. Check to make sure all insulation is in place. Make sure that the space is clean and all wood and debris has been removed. A well maintained crawl space can help protect your home and help to avoid costly repairs in the future. If you need help or don't want to go down there, give me a call and I'll help you out.
First Annual Portland Brunch Festival!
Getting Involved with our Community
The mission of DONATION HOUSE is to create revenue and support for non-profit organizations that serve our communities and make a positive impact on people around the world. When a non-profit organization refers real estate business to a DONATION HOUSE business partner, they agree to return 10% of the proceeds back to the non-profit organization.
Recent contributions have been made to the following:
For more information please visit: Sell a Home, Save a Child and Forward Edge International.