A (Real Estate) Tale of Two Cities and Four Zip Codes
For those who still doubt that all real estate is local, I thought it would help to compare two areas with approximately the same number of listings (detached single family). The first - the southeast zip codes of 97202 and 97206, encompassing Woodstock, Eastmoreland and Sellwood - has 438 active listings; and the second - […]
UG’s Primer, Part 1: UGB, restricted growth, and the effect of supply on real estate prices
My last year at Nordstrom was 1979. I was the divisional men’s shoe merchandiser for the six Oregon stores, and the national economy was that of Jimmy Carter: High inflation (12%), high interest rates (prime 12.25%); malaise. Not in spite of that, but because of that we had a record year: 27% increase in sales, […]
The Time Value of Homes
When the buying frenzy was hitting stride three years ago, builders were buying any lot they could find in Lake Oswego; in many cases, buying tear-downs and rebuilding. Three hundred thousand dollar lots aren’t good places for two hundred thousand dollar homes, so there are now 122 active listings in LO over $1 million, […]
The Supply Side of Housing: God isn’t making any more land
Brent Hunsberger has an interview in this morning’s Oregonian business section with economist Keitaro Matsuda. He makes a point that we often overlook as to why Northwest home prices have held up while so many places around the country have not. Yes, more people moving into the region than out due to a relatively strong economy, but […]
Miscellaneous real estate catch up; and it’s all my daughters’ fault.
It’s not that it’s been a slow real estate month for news. And it would be nice to blame a lack of posting on the fact that buyers are oozing out of the woodwork, but it’s neither the time of year nor the time of market for that.
So the best I can do is this: […]
Builders’ Own Homes: Great Quality, Quirky Design.
I have this listing. Terrific, terrific home: Quality, 10. Maintenance, 10. 2X6 framing, imported woods, solid core doors, dual furnace and AC (new), new fifty year roof, new kitchen and family room, huge rooms, triple extra high garage, 4000 sf on a mature, beautifully landscaped, fully fenced quarter acre. All because it was built and lived in […]
The Media and the Market
David Oringdulph – Legend Homes – was interviewed in Sunday’s Oregonian. In the interview he emphasized – and emphasized! - what I (and many others) have been saying for awhile: In the Portland real estate market fundamentals are essentially good; it’s the media that have driven buyer confidence – as measured in sales – south. […]
