tag:blogger.com,1999:blog-117197912009-07-19T13:54:23.220-07:00Portland Oregon Real Estate BlogGet local insight to the Portland Real Estate Market. A blog of current housing conditions, home price evaluations, sales, and neighborhood details for buyers and sellers of houses and condos.Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.comBlogger876125tag:blogger.com,1999:blog-11719791.post-51140027287171560182009-07-17T07:13:00.000-07:002009-07-17T07:13:24.081-07:00Year-To-Date Portland Home PricesThe year-to-date average sales price of a Portland area home is $295,100 while the median price is $250,000.<br /><br />Here are the year-to-date home prices for specific areas of Portland metro:<br /><br /><strong>Average & Median = Area</strong><br /><br />$468,700 & $390,000 = Lake Oswego, West Linn<br />$433,700 & $355,000 = West Portland<br />$373,800 & $344,000 = NW Washington County<br />$326,000 & $295,000 = Tigard, Tualatin, Sherwood, Wilsonville<br />$295,900 & $258,500 = NE Portland<br />$291,100 & $249,000 = Oregon City, Canby<br />$290,100 & $260,000 = Milwaukie, Happy Valley, Clackamas<br />$251,300 & $230,000 = Hillsboro, Forest Grove<br />$246,900 & $229,300 = Beaverton, Aloha<br />$246,400 & $219,900 = SE Portland<br />$233,900 & $230,000 = North Portland<br />$225,400 & $214,800 = Gresham, Troutdale<br /><br /><em>Source: RMLS</em><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-5114002728717156018?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com0tag:blogger.com,1999:blog-11719791.post-63083063385543883512009-07-16T06:11:00.000-07:002009-07-16T06:11:00.622-07:00Inventory At Lowest Level Since 2007Housing inventory in the Portland area is at its lowest level, 8.2 months, since August 2007.<br /><br />According to the latest RMLS Market Action report, the 8.2 months of inventory last month, in June of 2009, fell from May’s 10.2 month level. This also marks the fifth consecutive month inventory has fallen. And while it’s true that inventory levels typically decrease in the summer, this action is different from June 2007 and June 2008 when inventory increased from the previous May.<br /><br />Having 8.2 months of inventory means that if no other properties were listed for sale, it would take 8.2 months for the supply to dry up. The lower the inventory, the less selection buyers have. It’s important to note that a balanced market between buyers and sellers is 5.0 months of inventory- so despite the drop Portland still remains a buyer’s market, heavily in my opinion.<br /><br />As for home prices, they remain down double-digit style.<br /><br />The average sales price of a Portland area property last month was $299,800. That’s a 14% fall compared to June 2008 when the average price was $348,800.<br /><br />The median sales price of a Portland area home last month was $249,900. That’s a 13.5% tumble from June 2008 when the median price was $289,000.<br /><br />The total market time or average time on the market that it’s taking to sell a property is 147 days.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-6308306338554388351?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com0tag:blogger.com,1999:blog-11719791.post-11117408072416364592009-07-15T07:32:00.000-07:002009-07-15T07:32:23.877-07:00Tougher Energy Star Standards ComingBuyers in the market for new green homes will find them even greener in 2011. That’s when the standards for Energy Star homes are supposed to significantly rise.<br /><br />Some of the proposed changes, according to EcoHome Magazine, include:<br /><br /><blockquote>--Completing the thermal envelope system by making sure that everything from the windows to the insulation, to the caulking and other barriers, form a completely sealed envelope sound enough to stand up to an infrared camera test.<br /><br />--Treating the heating and cooling elements as a system where all the components are designed and sized to work together efficiently and are installed correctly.<br /><br />--A more comprehensive set of measures to manage water to make sure it stays out of the home’s envelope.<br /><br />--More energy efficiency requirements for the appliances in the home such as fans and lighting.</blockquote><br /><br />According to Energy Star, the changes would add between $2,000 and $4,000 to a home’s cost, roughly $10 to $20 a month more in mortgage costs, but the changes should save homeowners between $30 and $50 a month on their utility bills.<br /><br />In 2008, 17% of new homes built qualified for the Environmental Protection Agency’s Energy Star program, a 5% jump over 2007. There have been nearly 940,000 Energy Star-qualified homes built to-date, with more than 100,000 built in 2008.<br /><br /><em>Source: EcoHome Magazine</em><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-1111740807241636459?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com0tag:blogger.com,1999:blog-11719791.post-62115979513654989742009-07-13T07:24:00.000-07:002009-07-13T07:24:00.830-07:00Portland Price Reductions Rank HighThirty-one percent of homes for sale in the Portland area as of July 1st have had at least one price cut. That ranks Portland 11th in the U.S for most reductions, according to a study by real estate site Trulia.com. The average for cities across the country is 24.6 percent.<br /><br />Trulia reports the average price drop in Portland was 9 percent, compared to a U.S. average of 10.4 percent.<br /><br />The top-11 cities with the most price reductions as of July 1 are:<br /><br />Jacksonville, Fla., 39 percent <br />Boston, 35 percent <br />Minneapolis, 33 percent <br />Milwaukee, 33 percent <br />Honolulu, 33 percent <br />Tucson, Ariz., 31 percent <br />Chicago, 31 percent <br />New York, 31 percent <br />Austin, Texas, 31 percent <br />Raleigh, N.C., 31 percent<br />Portland, OR 11th 31 percent<br /><br />Note: Six cities experienced price reductions 31 percent of the time, but Trulia ranked Portland 11th.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-6211597951365498974?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com2tag:blogger.com,1999:blog-11719791.post-51756279488756251922009-07-10T07:40:00.000-07:002009-07-10T07:40:52.119-07:00Portland Drivers Middle Of The RoadPortland drivers ranked just about average in the fifth annual <a href="http://www.allstatenewsroom.com/releases/4529-fifth-annual-allstate-america">Allstate America’s Best Drivers Report</a>.<br /><br />Ranking 113th out of 200 cities, Allstate determined Portland drivers are involved in a crash every 8.8 years. Eugene ranked 8th and Salem 72nd.<br /><br />Drivers in the nation's safest city, Sioux Falls, SD, go 13.5 years between crashes while drivers in the least safest city, Philadelphia, go 6.4 years between crashes.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-5175627948875625192?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com0tag:blogger.com,1999:blog-11719791.post-49791101958871339032009-07-09T08:00:00.000-07:002009-07-09T08:00:41.928-07:00Portland 10th Best Walking CityPortland is the 10th best walkable city in the nation, according to WalkScore.<br /><br />The website ranked the largest 40 cities based on how easy it is to live a “car-lite” lifestyle. <br /><br />Seven neighborhoods in Portland are Walkers’ Paradises, with walks scores of 90-100. Forty-five percent of Portland residents have a walk score of 70 or above.<br /> <br />The most walkable neighborhood, according to WalkScore, in Portland is the Pearl District, followed by Old Town-Chinatown, Downtown, Northwest, Lloyd District, Hosford, Buckman, Eliot, Richmond, and Kerns. The complete rankings can be found <a href="http://www.walkscore.com/rankings/Portland">here</a>.<br /><br />As for cities, San Francisco ranked first followed by New York City, Boston, Chicago, and Philadelphia.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-4979110195887133903?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com0tag:blogger.com,1999:blog-11719791.post-74314142448596924702009-07-07T08:12:00.000-07:002009-07-07T08:12:01.141-07:00Arlington Heights, Portland’s Fastest Falling Neighborhood?Arlington Heights, the beautiful neighborhood next door to Washington Park, is Portland’s fastest falling neighborhood, according to <a href="http://www.forbes.com/2009/07/06/neighborhoods-home-prices-lifestyle-real-estate-neighborhood-home-prices.html">Forbes Magazine</a>.<br /><br />The publication “looked at the 25 largest cities in America to determine which neighborhoods witnessed the biggest year-over-year price drops, according to data from Trulia.com, an online real-estate marketplace and data firm. A neighborhood had to be within the city limits, have at least 10 sales, and prices had to be above $150,000.”<br /><br />According to Forbes, the median sales price in Arlington Heights is currently $452,000 and year-over-year price decline is 40%.<br /><br />Other neighborhoods joining Arlington Heights in Forbes’ list of Fastest Falling Neighborhoods is Greenwich Vilalge in New York, Cow Hollow in San Francisco, Glassell Park in Los Angeles, and Horton Plaza in San Diego.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-7431414244859692470?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com0tag:blogger.com,1999:blog-11719791.post-70980659382344200082009-07-06T07:29:00.000-07:002009-07-06T07:29:01.374-07:00Watching The Multnomah Village StampedeTwenty minutes early for my appointment with some buyers, I sat in my car and watched the show. I was in Multnomah Village to see a house that had just come on the market and seemed to be <strong><em>aggressively</em></strong> priced.<br /><br />During these twenty minutes, I saw four pairs of buyers with their real estate agents march in and out of the home. They came. They left. They milled about. And by the time I went inside with my buyers, there were probably 20 Realtor cards showing how many agents had been inside- in the first two days the home had been listed.<br /><br />Multnomah Village is one of those neighborhoods that is still in demand. And when a home hits the market, priced right, at least online, the stampede comes calling.<br /><br />Is this typical of Portland’s market? No. But I see this type of buyer activity still happening when the home and price are just right in high-demand neighborhoods.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-7098065938234420008?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com0tag:blogger.com,1999:blog-11719791.post-29661499564998353802009-07-03T07:16:00.000-07:002009-07-03T07:16:49.350-07:00Sherwood, A Best Town For FamiliesThe Portland suburb of Sherwood has been name one of the nation’s best towns for families, according to Family Circle magazine.<br /><br />Family Circle reviewed towns with populations between 15,000 and 150,000. From that, nearly 800 localities were selected with a high concentration of households with an average income of $75,000. Family Circle then selected the 10 winners from among the highest-rated towns. The magazine said, “We set out to find communities across the country that combine big-city opportunities with suburban charm, locations that offer an ideal blend of affordable houses, good jobs, top-rated schools, wide-open spaces, and a lot less stress.”<br /><br />Here are top ten towns:<br /><br />Sherwood, OR<br />Evans, Ga.<br />Rockwall, Texas<br />Indian Trail, N.C.<br />Edina, Minn.<br />Noblesville, Ind.<br />Perrysburg, Ohio<br />Hendersonville, Tenn.<br />Kenmore, Wash.<br />Sun Prairie, Wis.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-2966149956499835380?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com0tag:blogger.com,1999:blog-11719791.post-14410526647139599412009-06-30T07:32:00.000-07:002009-06-30T07:32:21.661-07:00Portland Home Prices Down 16%, U.S. 18.1%This morning’s Case-Shiller report shows Portland home prices were down 16 percent year-to-year from April 2008 to April 2009. On average, U.S. home prices were down 18.1 percent during the same time period.<br /><br />The national rate of decline improved for the third straight month, with April’s decline better than March’s loss of 18.7 percent.<br /><br />Here is the annual rate of declines for the 20 metro areas included in the Case-Shiller Index:<br /><br /><strong>Rate = City</strong><br /><br />-4.9% = Denver<br />-5.0% = Dallas<br />-7.7% = Boston<br />-10.0% = Charlotte<br />-10.5% = Cleveland<br />-12.5% = New York<br />-14.8% = Atlanta<br />-16.0% = Portland<br />-16.8% = Seattle<br />-16.9% = Washington, D.C.<br />-18.7% = Chicago<br />-20.0% = San Diego<br />-21.3% = Tampa<br />-21.3% = Los Angeles<br />-22.1% = Minneapolis<br />-25.4% = Detroit<br />-27.3% = Miami<br />-28.0% = San Francisco<br />-32.2% = Las Vegas<br />-35.3% = Phoenix<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-1441052664713959941?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com0tag:blogger.com,1999:blog-11719791.post-41680096406553602912009-06-29T07:14:00.000-07:002009-06-29T07:14:01.649-07:00Portland, A World’s Best Biking CityPortland has been named one of the world’s <a href="http://www.travelandleisure.com/articles/the-worlds-top-biking-cities">Top 10 biking cities</a>.<br /><br />Portland is one of only three American cities to make the list, according to Travel and Leisure Magazine. The other two U.S. cities are Minneapolis and Seattle.<br /><br />Here is what T&L says about Portland:<br /><br /><blockquote>As the only large U.S. city to receive the League of American Bicyclists’ top rating, Portland leads the domestic charge to put two-wheel transportation on par with automobile travel. Highlights in the Pacific Northwest enclave include 270 miles of on-street bike lanes and paved paths; hundreds of signs for bikers navigating their way; lock-up corrals for parking in the city; and mandates that give incentives for developers willing to provide showers and locker rooms for bike commuters.</blockquote> <br /><br /><strong>Here are the Top 10 Biking Cities:</strong><br /><br />Copenhagen, Denmark<br />Portland, OR<br />Munich, Germany<br />Montreal, Canada<br />Perth, Australia<br />Amsterdam, The Netherlands<br />Seattle, WA<br />Paris, France<br />Minneapolis, MN<br />Bogata, Colombia<br /><br />Also of note: Based on the number of people who bike to work, the U.S. Census Bureau lists Portland as the No. 1 bicycling city in the country.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-4168009640655360291?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com0tag:blogger.com,1999:blog-11719791.post-2939689582259287232009-06-26T07:39:00.000-07:002009-06-26T07:39:01.294-07:00Portland: Cleanest, Most Underrated U.S. CityPortland has been named the cleanest and most underrated U.S. city in a survey of travelers conducted by TripAdvisor.com.<br /><br />According to TripAdvisor, “Portland, Oregon is a major U.S. city that doesn't get a whole lot of publicity, but is a gem in the eyes of TripAdvisor travelers.” <br /><br />On the flip side, Detroit was rated the dirtiest city while Las Vegas was rated most overrated.<br /><br />Seattle was ranked the healthiest city and New York City the most favorite.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-293968958225928723?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com1tag:blogger.com,1999:blog-11719791.post-36606959819927713162009-06-25T10:19:00.000-07:002009-06-25T10:19:12.706-07:00How Green Is Your Home?Green here. Green there. Green everywhere.<br /><br />With so much talk about going green, it can be confusing as to what that really means. In regards to real estate, there are many shades of green- from new Earth Advantage green homes to old bungalows with green features such as bamboo flooring and added insulation.<br /><br />Yes, old houses can be green too. And one way of going green or learning how to go green is by ordering a free home energy review from Energy Trust of Oregon.<br /><br />I recently had a free review performed on my home joining the more than 10,000 homeowners who’ve done so since the reviews began in 2003. The review did in fact take about an hour with the advisor inspecting my furnace, water heater, insulation, windows, and ducts.<br /><br />When the review was finished, the advisor told me what areas of my home were energy efficient and which areas (not many) could use improvement. He also installed water-saving showerheads and faucet aerators.<br /><br />To learn more about the free review or to schedule one, visit this <a href="http://www.energytrust.org/residential/existinghomes/her.html">Energy Trust of Oregon</a> link.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-3660695981992771316?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com0tag:blogger.com,1999:blog-11719791.post-4681289470966099712009-06-24T07:21:00.000-07:002009-06-24T07:21:52.443-07:00Use Flower Power To Sell Your Home<a href="http://3.bp.blogspot.com/_vE44wBSn8zM/SkI1-NSmNYI/AAAAAAAAAbA/EDq5NWHiGZg/s1600-h/Flower+Basket.jpg"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 320px; height: 240px;" src="http://3.bp.blogspot.com/_vE44wBSn8zM/SkI1-NSmNYI/AAAAAAAAAbA/EDq5NWHiGZg/s320/Flower+Basket.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5350898650105394562" /></a><br />So often the advice from your Realtor is to keep it neutral. Pick wall colors that can’t possibly harm the sensibilities of any buyer. Pick exterior colors as bland as white bread. And for the most part, I agree.<br /><br />Yet this time of year, homeowners throughout Portland can find scores of hanging flower baskets that will give these neutral-colored houses some pop and sizzle.<br /><br />For $20, the right flower basket will catch the eye of a homebuyer. And unlike a welcome mat, this welcome sign can be seen by people driving by, walking on the sidewalk, and better yet buyers pulling up for their first impression.<br /><br />It’s a little detail that gives back big.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-468128947096609971?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com0tag:blogger.com,1999:blog-11719791.post-18441137286539378922009-06-23T07:33:00.000-07:002009-06-23T07:34:03.195-07:00Sewer Scopes More Common In PortlandThe frenzied housing boom Portland witnessed this decade produced many things- bidding wars, record low inventory, a seller’s market, high real estate prices… short sales, record high inventory, a buyer’s market and lower real estate prices. The early ups and today’s down.<br /><br />Beneath these markets, record real estate sales, and specifically thousands of houses- an inspection service grew at a pace even more hurried. Stats, I don’t have them. I can only tell you from professional experience- the sewer scope inspection, these years, transformed from rare to medium to normally done.<br /><br />Buyers I guide understand why performing sewer scopes are important. Sellers now come to expect them done hand-in-hand with home inspections. And while I don’t have the numbers to back me up, I do have the phone numbers for companies that perform sewer scope services. I can tell you that they’re as busy as anyone in the real estate industry. In fact, the company I refer most often is always booked way in advance of anyone else. The owner told me he turned down 30 appointments last week and 25 the week before.<br /><br />Below is a video of a sewer scope performed on an old house in the Laurelhurst neighborhood in Southeast Portland. The scope came back fine, but the inspector was looking for root intrusions, gaps, large bellies in the line, etc.<br /><embed src="http://www.wellcomemat.com/wm_video_1/5491083A6C" allowScriptAccess="always" allowFullScreen="true" quality="high" wmode="transparent" pluginspage="http://www.adobe.com/go/getFlashPlayer" type="application/x-shockwave-flash" width="480" height="393"></embed><div style="width: 480px; text-align: left; padding: 5px 0px;"><a href="http://www.wellcomemat.com/video/5491083A6C">Portland Sewer Scope</a> produced by <a href="http://www.Wellcomemat.com/delcid">Salvador Del Cid</a> on <a href="http://www.wellcomemat.com">WellcomeMat</a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-1844113728653937892?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com2tag:blogger.com,1999:blog-11719791.post-71877481219980981062009-06-22T06:51:00.000-07:002009-06-22T06:51:20.058-07:00Will City Layoffs Impact Real Estate Deals?I read in The Oregonian last week that the City of Portland is laying off 90 of the 300 workers from the Bureau of Development Services. According to the report, “the bureau is operating on a $900,000-per-month deficit” due to the slowdown in Portland’s construction industry whose fees fund the department.<br /><br />Employees within the BDS deal with a bevy of issues; some include building permits and inspections.<br /><br />I wonder how this will affect real estate transactions in Portland. Unexpected issues come up in real estate transactions and personally I pay the BDS a visit several times a year when the unexpected occurs. The employees are always kind and helpful and there is generally a wait, although not a long one. So I wonder how cutting almost a third of the staff will impact the ability to get answers or permits in a timely manner.<br /><br />When I was there last week, a homeowner stood next to me and said the buyer of his home wanted a permit issued for a particular repair. This homeowner didn’t have to wait for service, was quickly helped, and left knowing a BDS inspector would be paying his home a visit soon. Again, with less staff in the future how long will it take for an inspector to visit? Will permits take longer to issue? If so, will that ultimately slow down a real estate transaction and cause buyers and sellers unexpected delays? I hope not. The BDS has always been helpful to me and I’m sorry to see such massive layoffs.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-7187748121998098106?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com0tag:blogger.com,1999:blog-11719791.post-72322275659462826502009-06-19T07:17:00.000-07:002009-06-19T07:17:48.366-07:00Portland Drivers Most CourteousPortland has the most courteous drivers in the U.S, according to the fourth annual Driver’s Seat 2009 Road Rage Survey by AutoVantgage.<br /><br />The survey was conducted to determine the driving habits and attitudes of commuters across the country and to learn more about consumer views on the topic of road rage. <br /><br />Portland finished second in 2008. Here are this year’s top five most courteous cities for driving:<br /><br />1. Portland<br />2. Cleveland<br />3. Baltimore<br />4. Sacramento<br />5. Pittsburgh<br /><br /><br />Here are the five worst cities for road range:<br /><br />1. New York<br />2. Dallas<br />3. Detroit<br />4. Atlanta<br />5. Minneapolis<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-7232227565946282650?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com0tag:blogger.com,1999:blog-11719791.post-30447246237115968022009-06-17T07:06:00.000-07:002009-06-17T07:18:55.452-07:00Dealing With Oil Tanks In Portland, OregonOld houses. Old neighborhoods. Never do they get old close-in.<br /><br />Yes, Portland’s charm and character neighborhoods (such as Irvington, Alameda, Ladd’s Addition, Laurelhurst, etc.) are lush in reasons why people are continually drawn to them. Yet, buying (or selling) a house in these neighborhoods possibly means dealing with an old issue- the underground oil tank.<br /><br />They’re not uncommon in Portland’s old homes. In fact, the State of Oregon estimates that as many as 200,000 active or abandoned oil tanks may have leaked at some point.<br /><br />Here’s what you should know, courtesy of Don over at EcoTech, a Portland-based company that decommissions oil tanks:<br /><br /><strong>Q: What does Oregon law require an owner to do with an underground heating oil tank in the yard?</strong><br /><br />A: If the tank is no longer in use, the contents of the tank must be pumped out. Oregon law does not require property owners to decommission or test residential tanks for leaks. If the tank has leaked, or is suspected to be leaking, the Oregon Department of Environmental Quality (DEQ) must be notified. DEQ will require the property owner to have a cleanup performed. If you are selling your home, Oregon law requires you to disclose the presence of an underground oil tank to the buyer.<br /><br /><strong>Q: For those buying an older home, how can they be sure there’s not an abandoned heating oil tank buried in the yard or under a new addition?</strong><br /><br />A: There is no foolproof method to prove that there is not an abandoned tank buried in the yard. However, a number of resources are available to help you find a tank, if present. Start by asking your inspector to look for obvious indications of a tank, such as a vent or fill-pipe outside the home, or copper or steel oil supply lines in a basement wall, crawl space or basement floor.<br /><br />No obvious signs of a tank? Many heating oil tank contractors will provide a tank search for no charge or for a small fee.<br /><br /><strong>Q: For those buying a home with a tank buried in the yard, how can they be sure the tank has not leaked? </strong><br /><br />A: Approximately a third to a half of all underground residential tanks in Oregon have leaked. Because cleanups are sometimes very expensive, it is important for buyers to protect themselves from purchasing a property with a leaking tank. When performed properly, soil testing is the most reliable method for detecting a leaking tank system. A DEQ-licensed contractor should be hired to collect soil from beneath both ends of the tank. Each sample should be analyzed at an independent laboratory. The cost for soil sampling with independent lab analysis generally costs between $200 and $300.<br /><br /><strong>Q: What should those who are selling a home do about an underground tank? </strong><br /><br />A: A purchase offer contingent on clean soil samples can unravel if soil contamination is discovered. Therefore, many sellers choose to have soil samples collected prior to listing their houses. This applies to both in-service and out-of-service tanks. If the tank has leaked, there is plenty of time to take care of it before offers are made. If testing shows no evidence of leakage, documentation can be presented to a prospective buyer, eliminating the tank as a concern.<br /><br />It is wise to consult with your real estate agent before deciding when to sample the soil around your tank.<br /><br /><strong>Q: If the tank leaks, how much will cleanup cost?</strong><br /><br />A: Cleanup costs vary according to the severity of the problem. In the past, cleanup rules required the removal of accessible contaminated soil. Balancing the protection of human health and the environment with consumer costs, DEQ created less costly cleanup options. Today, in most situations, a risk assessment can be performed demonstrating compliance with Oregon law without the removal of contaminated soil. Risk assessment and tank decommissioning usually costs less than $3,000.<br /><br />Although uncommon, highly contaminated sites may require contaminated soil removal and disposal. In some instances, groundwater may also be contaminated, requiring groundwater testing and risk assessment. Cleanup costs for highly contaminated properties can range from $4,500 to $6,000. Complicated cleanups, such as those requiring soil removal and involving groundwater contamination, can cost upwards of $10,000.<br /><br /><strong>Q: What about purchasing a new oil furnace and replacing the old tank?</strong><br /><br />A: Most replacement tanks are installed above ground. They are less likely to leak and any problems can easily be spotted with a periodic inspection. Above-ground tanks usually have a 275-gallon capacity and are installed either in the yard nor basement.<br /><br />Most local governments require that above-ground tank installations comply with nseismic codes to reduce the likelihood that the tank will tip and spill during an earthquake. Protect yourself by making sure your contractor installs your tank in compliance with local codes and obtains an approved mechanical permit, if applicable.<br /><br /><strong>Q: Is there financial assistance available to help pay for cleanup and tank replacement costs?</strong><br /><br />A: Homeowner's insurance may cover some or all of the cleanup costs. Insurance coverage varies by company, situation and policy type. Carefully read the exclusion portions (what the company will not cover) of your insurance policy, paying close attention to terms such as “contamination” or “pollution.” Also, call your insurance agent and ask to speak to an adjuster.<br /><br />Another option is a cleanup and/or tank replacement service agreement offered by some oil suppliers. Check with your oil distributor for details.Carefully read the limitations section of every contract. In cases where tanks are discovered to have leaked after a property has been bought, a previous property owner may have legal responsibility for cleanup costs. If you decide to seek legal help, find an attorney experienced in litigating underground storage tank cases. Ask your tank contractor and real estate agent for referrals.<br /><br /><strong>Q: How can I find a reliable tank contractor?</strong><br /><br />A: Unfortunately, the lowest priced bidder is not always the least cost in the end. Hundreds of tank owners and former tank owners have had work performed, only to later learn it was done inadequately. In such cases, additional work is often necessary to comply with DEQ rules, costing more money. Educate yourself about residential tanks.<br /><br />There are dozens of certified contractors in the state, with widely varying experience and qualifications. A complete list of DEQ licensed heating oil tank service providers is available from DEQ at 800-742-7878, or on the Web at www.deq.state.or.us/wmc/tank/tochot.htm. <a href="http://ecotechllc.com">Ecotech</a> is DEQ Licensed Tank Service provider (residential and commercial tanks).<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-3044724623711596802?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com0tag:blogger.com,1999:blog-11719791.post-23207270163034716462009-06-16T07:05:00.000-07:002009-06-16T07:05:50.815-07:00How Long To Sell In Portland?It’s taking an average of five months to sell a Portland area home. That’s for all properties in the metro area meaning some areas and neighborhoods are faring better than average, while others lag far behind.<br /><br />Here were the average (or total market) times in May 2009, listed from shortest to longest:<br /><br /><strong>DOM = Area</strong><br /><br />96 = NE Portland<br />110 = SE Portland<br />120 = North Portland<br />133 = Beaverton, Aloha<br />150 = Lake Oswego, West Linn<br />154 = Gresham, Troutdale<br />155 = Oregon City, Canby<br />161 = Tigard, Tualatin, Sherwood, Wilsonville<br />165 = West Portland<br />168 = Hillsboro, Forest Grove<br />175 = Milwaukie, Clackamas, Happy Valley<br />190 = NW Washington County<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-2320727016303471646?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com0tag:blogger.com,1999:blog-11719791.post-53862080284374037402009-06-15T07:16:00.000-07:002009-06-15T07:16:00.832-07:00Current Home Prices In PortlandAs noted the other day, Portland home prices are down year-to-year 13 percent. As for individual areas, here are the average and median home prices year-to-date:<br /><br /><strong>Average & Median = Area</strong><br /><br />$469,400 & $390,000 = Lake Oswego, West Linn<br />$438,900 & $357,000 = West Portland<br />$375,200 & $350,000 = NW Washington County<br />$318,200 & $298,300 = Tigard, Tualatin, Sherwood, Wilsonville<br />$294,600 & $258,000 = NE Portland<br />$293,300 & $265,000 = Milwaukie Clackamas, Happy Valley<br />$286,400 & $246,000 = Oregon City, Canby<br />$250,300 & $229,500 = Hillsboro, Forest Grove<br />$249,200 & $230,000 = Beaverton, Aloha<br />$241,800 & $215,000 = SE Portland<br />$232,700 & $230,000 = North Portland<br />$228,700 & $215,000 = Gresham, Troutdale<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-5386208028437403740?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com0tag:blogger.com,1999:blog-11719791.post-79156426747419671142009-06-12T15:42:00.000-07:002009-06-12T15:42:10.588-07:00Prices Down Unlucky 13% In PortlandPortland home prices are down 13 percent, according to the latest RMLS Market Action report which reflects May 2009 activity.<br /><br />The RMLS says that the average home price is down 13% from an average of $335,000 in May 2008 to an average $291,400 in May 2009.<br /><br />The same report shows that the median sales price is also down 13% from a median of $287,500 in May 2008 to a median $250,000 in May 2009.<br /><br />Overall, closed sales are down roughly 23% from a year ago, while new listings have dropped 25%. The large drop in new listings suggests that some home owners who would like to sell are staying out of this buyer’s market. Of note, May activity was stronger than April activity in the Portland real estate market with increased sales and listings.<br /><br />Regarding this buyer’s market, housing inventory shrunk a tad in May to a level of 10.2 months- meaning that if no other properties were listed for sale, it would take 10.2 months for the supply to dry up. The 10.2 months of inventory in May is down from April’s 11-month level and represents the fourth straight month inventory has decreased. It’s also the lowest inventory level in Portland since August 2008 (9.9). Still, a balanced market between buyers and sellers if 5.0 months of inventory. In other words, the market heavily favors buyers.<br /><br />The total market time or average market time for a Portland area home to sell is currently 147 days.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-7915642674741967114?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com1tag:blogger.com,1999:blog-11719791.post-70789349784187889512009-06-11T07:29:00.000-07:002009-06-11T07:29:31.736-07:00You Can't Control Outside FactorsIt was a one-of-a-kind property. After scouring the market for just the right house, some buyers I was helping found a home that had it all. It was somewhat remodeled with great potential to nicely finish, had lots of land, tons of character, and much more. They loved the house.<br /><br />But….<br /><br />The house was located on a fairly busy street and neighbored by commercial properties. In the end, that’s why the buyers passed. It was a tough decision to bypass this property which was so tantalizingly close.<br /><br />But there’s a reason location, location, location rules. You can remodel your home, paint it, stamp it with your personality. Yet you can’t move it. Obvious, I know, but keep this in mind if you’re struggling to choose between two homes.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-7078934978418788951?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com0tag:blogger.com,1999:blog-11719791.post-8604615716602104632009-06-10T07:23:00.000-07:002009-06-10T07:23:35.826-07:00Survey Says, Twenty-Five Percent Reduce The PriceA national study shows that one of four homes listed has experienced a price reduction with the average reduction being near 10 percent. <br /> <br />Trulia.com says that means many homeowners are basing their asking prices too heavily on emotion and not market conditions. Thirty-six percent of homes listed in Jacksonville, Florida, have been reduced in price. That’s tops in the U.S. followed by Tucson (32%), Boston (32%), Los Angeles (32%), and Columbus, Ohio (31%). <br /> <br />Here’s a MarketWatch interview with Trulia.com that further elaborates its study. <br /><embed src="http://s.wsj.net/media/swf/main.swf" bgcolor="#FFFFFF" flashVars="videoGUID={DD42BC39-4B35-46A9-A169-CBDDAF39E99C}&playerid=1000&plyMediaEnabled=1&configURL=http://wsj.vo.llnwd.net/o28/players/&autoStart=false” base="http://s.wsj.net/media/swf/" name="flashPlayer" width="512" height="363" seamlesstabbing="false" type="application/x-shockwave-flash" swLiveConnect="true" pluginspage="http://www.macromedia.com/shockwave/download/index.cgi?P1_Prod_Version=ShockwaveFlash"></embed><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-860461571660210463?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com0tag:blogger.com,1999:blog-11719791.post-8363108311638232772009-06-09T07:01:00.000-07:002009-06-09T07:01:00.219-07:00Mt. Tabor Neighborhood, Best In WestMount Tabor has been named one of the best neighborhoods in the west, according to <a href="http://www.mensjournal.com/the-best-nabes-west">Men’s Journal</a>. It truly is a great area and similar to many of Portland’s closer-in neighborhoods in SE Portland.<br /><br />Here’s what the publication had to say:<br /><blockquote>Mount Tabor is a low-key neighborhood with acres of trails at the foot of a 600-foot volcanic peak. Right next door is Hawthorne, a funky district with trendy shops, good eats, and lively nightlife. Our advice: Call Mount Tabor home and consider Hawthorne the fun uncle.</blockquote><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-836310831163823277?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com0tag:blogger.com,1999:blog-11719791.post-52753159494314798652009-06-08T06:55:00.000-07:002009-06-08T06:55:00.512-07:00PBS Features PortlandPortland took a starring role recently in the PBS documentary <em><strong>Blueprint America: Road to the Future</strong></em>, which examined the country’s aging infrastructure.<br /> <br />I thought the segment featuring Portland showed why, transportation-wise, people are drawn to our city: bike power and the MAX.<br /> <br />It’s an interesting documentary which also featured Denver and New York City. You can watch it <a href="http://www.pbs.org/wnet/blueprintamerica/reports/road-to-the-future/video-full-documentary/648/">here</a>.<div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/11719791-5275315949431479865?l=ownaportlandhome.blogspot.com'/></div>Salvador Del Cidhttp://www.blogger.com/profile/06864121287302800397noreply@blogger.com0