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Great news for everyone stuck at home! From the article: "[Gov.] Brown on Tuesday said the areas would open again for da...
05/05/2020
Some Oregon parks, outdoor areas will open again in a limited capacity, governor says

Great news for everyone stuck at home! From the article: "[Gov.] Brown on Tuesday said the areas would open again for day use. She said camping opportunities will become available as federal, state, local, and private providers are able to prepare their facilities for visitors in cooperation with each other."

PORTLAND, OR (KPTV) – Some state parks, outdoor recreation facilities, and outdoor areas across Oregon, including ski areas, are open again in a limited capacity, Gov. Kate Brown says.

Say good-bye to Portland's quirky five 'quads.' From the report: "It encompasses an area that runs along the Willamette ...
05/01/2020
The designation 'South Portland' is official on Friday, about 6,000 addresses affected

Say good-bye to Portland's quirky five 'quads.' From the report: "It encompasses an area that runs along the Willamette River, roughly from the Ross Island Bridge to the Sellwood Bridge and to Barbur Boulevard to the west. About 6,000 addresses are affected."

South Portland now becomes the latest designation, created in 1931, that includes North, Northeast, Northwest, Southwest and Southeast Portland.

From the article: "Gov. Jay Inslee imposed a statewide stay-at-home order on March 23, so the impact is only partially r...
04/14/2020
Clark County housing market down slightly year-over-year during March

From the article: "Gov. Jay Inslee imposed a statewide stay-at-home order on March 23, so the impact is only partially reflected in the month’s real estate numbers. The order does not prohibit real estate sales, but it does apply restrictions such as allowing home tours only by appointment and involving only one real estate agent and one potential buyer."

https://www.columbian.com/news/2020/apr/13/clark-county-housing-market-down-slightly-year-over-year-during-march/

Clark County’s housing market showed a slight year-over-year decline in sales and new listings for March, offering the first hint of how the coronavirus pandemic will impact residential real estate. T

From the article: "The shelter is in a motel, but city-county Joint Office of Homeless Services officials are not releas...
04/08/2020
Second motel homeless shelter opens for people who have coronavirus symptoms

From the article: "The shelter is in a motel, but city-county Joint Office of Homeless Services officials are not releasing the location because it could house people staying in domestic violence shelters."

The shelter is in a motel, but city-county Joint Office of Homeless Services officials are not releasing the location because it could house people staying in domestic violence shelters.

From the article: "The estate is just a short drive to Vancouver, Washington as well as Portland, Oregon, making it a pe...
04/06/2020
A Lush Vancouver Estate By Christie’s International Real Estate, Seattle

From the article: "The estate is just a short drive to Vancouver, Washington as well as Portland, Oregon, making it a perfect retreat for anyone looking to experience the splendor of the nature while being close to work, shopping and city amenities."

https://www.hauteresidence.com/a-lush-vancouver-estate-by-christies-international-real-estate-seattle/

Situated on five lush acres near Vancouver, Washington, this beautiful estate includes a large main residence, guest house & more.

From the article: "The good news is federal regulators and lawmakers are aware of the problem and working to fix it. Gin...
04/02/2020
Another financial crisis is brewing in the mortgage market

From the article: "The good news is federal regulators and lawmakers are aware of the problem and working to fix it. Ginnie Mae, which deals mostly with affordable mortgages, has announced its intent to address the problem in the next two weeks."

https://www.curbed.com/2020/3/27/21197434/mortgage-coronavirus-forbearance-crisis-coronavirus-servicers

A mortgage forbearance directive could decimate mortgage lending infrastructure if Congress and regulators don’t act fast.

From the article: "Workers in both residential and commercial real estate, including settlement services and government ...
04/01/2020
Homeland Security Says Real Estate is “Essential Business”

From the article: "Workers in both residential and commercial real estate, including settlement services and government workers who facilitate mortgage and real estate deals, were included in a “Essential Critical Infrastructure Workforce” advisory list released Saturday by the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency, Inman reported."

https://therealdeal.com/2020/03/31/homeland-security-says-real-estate-is-essential-business/

“Residential and commercial real estate services, including settlement services” are essential infrastructure, according to guidance from the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency.

From the article: "So how will real estate fare during this global crisis? Real estate is a well-known asset class that ...
03/26/2020
Is Real Estate Really Recession-Proof?

From the article: "So how will real estate fare during this global crisis? Real estate is a well-known asset class that has been used to build wealth for centuries and is sometimes referred to as recession-proof. But in reality, no investment -- real estate included, is truly recession-proof."

https://www.fool.com/millionacres/real-estate-investing/articles/is-real-estate-really-recession-proof/

As talk of a recession rises, many are left wondering what the best way to invest is and what asset can withstand a recession. Is real estate the way to go?

From the article: "'It is absolutely a tenant's market right now,' Mike Petrivelli, market analyst with CoStar in Denver...
03/25/2020
CoStar News - As Cities Go Dark, Tenants Gain Upper Hand in Office Space Negotiations

From the article: "'It is absolutely a tenant's market right now,' Mike Petrivelli, market analyst with CoStar in Denver, said in a phone interview. 'Everyone seems to be piling up their cash reserves because of the uncertainty moving forward, so you're going to see some office concessions.'"

https://product.costar.com/home/news/shared/1121006531?source=sharedNewsEmail

As the U.S. commercial real estate market reckons with the rapid spread of the new coronavirus, office brokers and analysts are bracing themselves for a market that favors tenants when, just days ago, the nation was broadly experiencing one of the strongest demand benefiting landlords.

Home sales could fall 35%, as coronavirus stalls spring housing market, new analysis says
03/25/2020
Home sales could fall 35%, as coronavirus stalls spring housing market, new analysis says

Home sales could fall 35%, as coronavirus stalls spring housing market, new analysis says

As Americans watch the value of their retirement funds collapse, it is no surprise the spring housing market is about to crater. Home sales could fall by 35% annually this spring, compared with the last quarter of 2019, according to new analysis by Capital Economics.

From the article: "[New York] real estate agents join a long list of workers who have been deemed non-essential by the s...
03/24/2020
New York halts real estate agents from showings, open houses - Albany Business Review

From the article: "[New York] real estate agents join a long list of workers who have been deemed non-essential by the state and ordered to stay home to prevent the coronavirus from spreading further."

"By my mandate, you couldn't even have your real estate agent out showing the apartment," Gov. Andrew Cuomo said, according to a transcript released by the governor's office. "Same with the commercial tenants."

03/23/2020
CoStar News - Despite Leasing Challenges for Speculative Developments, Strong Economy Offered Robust Foundation for Portland's Office Market

From the article: "With $1.7 billion in sales volume over 2019, Portland office investment reached a decade high. The confidence of investors has been undergirded by Portland’s strong job growth, the growing profile of its tech workforce, the breadth and depth of local employers and many large, ongoing corporate expansions."

Portland, Oregon's strong economy last year offered a robust foundation for the area's office market, despite leasing challenges for speculative developments.

From the article: "The owners of the over-the-top Portland property called Blackberry Castle first put the estate on the...
03/13/2020
Here’s a castle in Oregon worthy of Prince Harry and Meghan Markle, listed at $3.9 million

From the article: "The owners of the over-the-top Portland property called Blackberry Castle first put the estate on the market for $7.175 million in 2015, according to The Oregonian
/ oregonlive.com. It relisted at the beginning of 2020 at $4 million, according to realtor.com, before dropping to its current price tag on February 26, 2020."

A medieval-type French-chateau castle that an Oregon couple took seven years to build is on the market for a princely sum of $3.9 million.

From the article: "The City of Portland leveled hundreds of African American-owned homes to make room for the Memorial C...
03/12/2020
Can An Unlikely Partnership Help Restore Portland’s Historic Black Neighborhood?

From the article: "The City of Portland leveled hundreds of African American-owned homes to make room for the Memorial Coliseum, the Rose Garden (today known as the Moda Center), and a new stretch of I-5—prompting a drop in Albina’s Black population, which is still declining today."

In the 1940s, the Northeast Portland neighborhood of Albina was an anomaly. In a city with a vast majority of white residents, the tight-knit neighborhood was a thriving hub for Black culture, politics, and social life. But in the late 1950s and 1960s, Albina lost that splendor. The City of Portland...

From the article: "The dry-rotted structure has been empty for months and is on the verge of collapse, prompting San Fra...
03/11/2020
CoStar News - Rundown Shack in San Francisco Sells for Almost $2 Million

From the article: "The dry-rotted structure has been empty for months and is on the verge of collapse, prompting San Francisco building officials to declare it unsafe to enter."

A 25-foot-wide lot with a dilapidated 124-year-old shack in San Francisco's Potrero Hill neighborhood has sold for nearly $2 million. The new owners plan to redevelop the property into a two-unit building, once demolition is complete.

From the article: "'If this were to be persistent for several quarters, then I think you would see some impact on the pe...
03/09/2020
The New Normal: Real Estate Settles in for a Coronavirus Disruption

From the article: "'If this were to be persistent for several quarters, then I think you would see some impact on the performance of retailers and entertainment providers that could affect their ability to deploy capital and operate,' said Thomas Dobrowski, vice chairman at Newmark Knight Frank. 'But if it is short term in nature, which I think most of us are expecting, I don’t think there is going to be any meaningful impact from a commercial real estate standpoint or a retailer standpoint.'"

The last week saw a surge in coronavirus cases both in the U.S. and worldwide, driving a sharp downturn in global stock markets and raising concerns that the outbreak’s impact, both in terms of hea…

From the article: "The most controversial [amendment] will likely be the Deeper Affordability Bonus Amendment. It would ...
03/09/2020
Infill plan returns to City Council on Thursday

From the article: "The most controversial [amendment] will likely be the Deeper Affordability Bonus Amendment. It would allow up to six units on lots in single-family zones if half of them were affordable to households earning 60% or less of the area median family income."

A proposed amendment to allow up to six housing units on single-family lots is already controversial

From the article: "Though the residential market activity has cooled recently, Portland's commercial real estate market ...
03/06/2020
Business Journal survey indicates another banner year for Portland commercial real estate as inventory comes into balance (Infographic) - Portland Business Journal

From the article: "Though the residential market activity has cooled recently, Portland's commercial real estate market remains vibrant with new and redeveloped buildings cropping up all over the metro area ... New amenities added in the renovation of PacWest Center were hailed by David Squire, managing director at Newmark Knight Frank..."

Interest rate fears have fallen as worries about the economic outlook have risen.

From the article: "'A lot of borrowers that were in the queue are trying to make moves now because they see that the int...
03/05/2020
CoStar News - Appraisers See Fewer Sales Ahead, More Refinancing as Market Weighs Coronavirus

From the article: "'A lot of borrowers that were in the queue are trying to make moves now because they see that the interest rates have definitely had a sizable gap down. So last week was my busiest week ever in terms of giving out bids,' James Meehan, owner of Meehan Valuation in Holmdel, New Jersey, told CoStar Group. 'I had 51 bids. I probably average about 35 to 40 a week. So it was way above average. I'm just getting busier and busier.'"

Ajay Madhvani was still in college when planes exploded into New York's World Trade Center towers and the Pentagon in 2001. Now as the owner of AM Valuation in Tucson, Arizona, he is getting a sense of what his industry must have gone through in the months following the terrorist attacks.

From the article: "A recent forecast for the Portland housing market predicted that home prices would rise over the comi...
03/03/2020
Outlook: Portland, Oregon Housing Market Could Rebound in 2020

From the article: "A recent forecast for the Portland housing market predicted that home prices would rise over the coming months. And that’s not surprising, when you consider the current supply-and-demand situation in this market."

Home prices in the Portland area leveled off over the past couple of years. But a newly issued housing forecast suggests they could start climbing again.

From the article: "California has some of the nation’s highest levels of homelessness, exacerbated by a shortage of 1.1 ...
03/02/2020
CoStar News - California Lawmakers Aim to Spur Housing Construction By Slashing Developer Fees

From the article: "California has some of the nation’s highest levels of homelessness, exacerbated by a shortage of 1.1 million homes for extremely low-income renters, according to the National Low Income Housing Coalition."

California lawmakers introduced a series of bills to limit high development fees charged by cities and counties that can add tens of thousands of dollars to the price of a new home or apartment, the state's latest attempt to jump start construction and ease the housing shortage.

From the article: "In Portland, Oregon, the EcoDistricts Initiative is developing five pilot eco-districts to build on t...
02/27/2020
The new neighborhood: creating new community around sustainability and social well-being

From the article: "In Portland, Oregon, the EcoDistricts Initiative is developing five pilot eco-districts to build on the city’s success in the green building sector, and to transfer sustainability benefits to the neighborhood scale."

At the 2020 tenth World Urban Forum, the United Nations Environment Programme (UNEP) presented its new guidelines for integrated approaches for sustainable neighborhoods.

From The Oregonian article: "The measure would also implement a 1% tax on the incomes of individuals in Clackamas, Multn...
02/26/2020
1% tax on large businesses among changes in proposed Portland-area homeless services ballot measure

From The Oregonian article: "The measure would also implement a 1% tax on the incomes of individuals in Clackamas, Multnomah and Washington counties who earn at least $125,000 a year and couples who earn more than $200,000."

The Metro Council is scheduled to vote Tuesday whether to place the so-called Supportive Housing Services proposal on the May 19 ballot. The measure would also implement a 1% tax on the incomes of individuals in Clackamas, Multnomah and Washington counties who earn at least $125,000 a year and coupl...

From the article: "In general, millennials are environmentally conscisous, so they're looking for homes that are, too. A...
02/25/2020
What are millennials looking for when buying a home? We asked three experts

From the article: "In general, millennials are environmentally conscisous, so they're looking for homes that are, too. And, for a lot of millennials, a home in a location with a high walk score is a must-have."

Millennials now make up a large proportion of home buyers, with many entering their 30s and getting ready to invest in a first home. We asked three local experts what millennials in the Seattle area are looking for in a home. Here's what they said.

From the article: "The legal action comes after the Portland City Council in June 2019 passed what are called Fair Acces...
02/24/2020
Multifamily NW, landlords sue Portland over FAIR housing rules - Portland Business Journal

From the article: "The legal action comes after the Portland City Council in June 2019 passed what are called Fair Access in Renting rules, also known as FAIR. Among other provisions, the rules will require landlords to post 72 hours’ notice that a unit has come available, meaning the landlords must wait that long before they begin accepting applications. The rules also will limit how much in security deposits landlords can collect."

The lawsuit comes as the Fair Access in Renting rules are slated to go into effect March 1.

From the article: "In total, more than 85 million square feet of new commercial development has been delivered to the ma...
02/21/2020
Portland’s Hipster Vibe Continues to Reel in Tech Types | GlobeSt

From the article: "In total, more than 85 million square feet of new commercial development has been delivered to the market in the last 10 years to meet the area’s growing population and changing demographics, according to the report."

It is where many young people also move for innovative and creative jobs, affordable living and an outdoor, active lifestyle; specifically, Oregon had the sixth fastest US growth for 25- to 39-year-olds.

From the article: "While some markets on the list added a significant number of new apartment units in that time, Seattl...
02/20/2020
CoStar News - Where Apartment Renters Faced Biggest Sticker Shock in Past Decade

From the article: "While some markets on the list added a significant number of new apartment units in that time, Seattle and Denver in particular, household formation still generally outpaced housing deliveries throughout the decade, resulting in advantageous housing markets for apartment owners."

The past decade saw the longest economic expansion in U.S. history, which helped support record household formation and unprecedented demand for rental apartments throughout the country. But there were some surprises.

From the article: "The price of the average home in Vancouver is around $350,000, according to online real estate websit...
02/19/2020
Lawmakers Propose Ban On Single Family Zoning In Washington

From the article: "The price of the average home in Vancouver is around $350,000, according to online real estate websites Zillow and Redfin."

The ban would do away with single family zoning in most cities with a population above 10,000 people.

From the article: "Earlier this month, the Metro Council announced collaboration with HereTogether, a local homelessness...
02/18/2020
Council holds public hearing on potential supportive housing measure

From the article: "Earlier this month, the Metro Council announced collaboration with HereTogether, a local homelessness advocacy coalition, to discuss the proposal being put to voters on the May 2020 ballot."

The Metro Council held a public hearing on a potential housing measure to provide housing services throughout the region

From the article: "[T]here’s even a home for sale that personifies Wright’s late-career, rounded style, featuring a cant...
02/17/2020
8 Frank Lloyd Wright houses for sale right now

From the article: "[T]here’s even a home for sale that personifies Wright’s late-career, rounded style, featuring a cantilevered spiral ramp."

The least expensive is priced at just $175,000

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