Investment Properties

Open House Update :: September 15 & 16

Join us this weekend at these incredible homes' open house viewings.

9119 N Richmond Ave, Portland (map/directions); Price: $375k
Open House: Sept 9, Sunday, 1-3p


Details: This charming Victorian 2-bedroom, 1.1 bathroom home is located just blocks from downtown St. Johns! Features include high ceilings, warm wood floors, stained glass window, and French doors that lead out to your private deck and yard. The remodeled kitchen makes entertaining easy, and with 2 bathrooms - including a claw-foot tub! - hosting overnight guests is a breeze. The additional 200 square feet basement makes for a great storage solution. A must-see gem! (Listing by: Claire Paris)

4401 SE 66th Ave, Portland (map/directions); Listing Price: $325k
Open House: Sept 16, Sunday, 12-2p

Details: A great bargain in Foster-Powell! This 2-bedroom, 1-bathroom bungalow includes an open living/dining room with warm wood floors. Nicely appointed, remodeled kitchen and an amazing yard, with an end of summer harvest waiting for you. Alley access to your garage for your cars and bikes. Link coming soon! Contact us for details. (Listing by: Claire Paris)

Can't make this weekend? Contact us to schedule a visit by email or phone, 503.998.4878.
Follow us on Facebook and Instagram to learn about our upcoming open houses & current listings!

Join us on Tuesdays at 1p for our "Dear Claire" Facebook Live series. 
Help us reach out end-of-year goal of 100 YouTube subscribers.
Subscribe today and turn on the notification alert to receive the latest & greatest!

facebook // instagram // pinterest // twitter // youtube

What is an ADU?

If you’ve heard of a mother-in-law suite, a multigenerational home, or a garage apartment, you’re already familiar with the idea of Accessory Dwelling Units (ADU). An ADU is an attached or detached structure that accompanies a home on the same piece of property. With the extra space, homeowners enjoy a flexible home design that increases the value of a home and offers a communal living concept without compromising privacy. This creative home addition also makes it possible to earn a passive income as a rental unit.

The concept is designed around a communal style of living without compromising privacy.

Though often much smaller than a typical house, an Accessory Dwelling Unit differs from a tiny home because an ADU must be built to standard building codes, requires building permits, and remains a fixed structure. Tiny homes aren’t usually held to those same requirements. Tiny homes also get their own quirky tv shows and inexplicable storage space.

Benefits of an Accessory Dwelling Unit:

  • Increases value and marketability of a property
  • Adds (mostly) passive income as a rental unit
  • Creates a communal living style while offering privacy
  • Accommodates family and friends who need temporary living arrangements
  • Allows for in-home health care services
  • Provides a reasonably priced rental in an established community

What to Expect When Building an ADU in Portland
In recent years, Portland has become known as an industry leader for ADUs and a city where this flexible home concept has been encouraged. City planners discovered that Accessory Dwelling Units help address the shortage of affordable rental homes in a rental market with quickly rising rental prices. Portland has developed especially flexible ADU regulations creating a thriving market for a creative solution to a common urban problem. When homeowners can add a separate structure to their property specifically as a rental unit, not only does their property value increase but also tenants have affordable housing options in established communities. The homeowners and tenants reap the benefits while helping to balancing out the overall rental market rates.

Designed to Help You Stay Flexible During Life’s Changes
You’ll be hard pressed to find anyone, especially a prospective buyer, disappointed with extra room that can designed to fit just about any lifestyle.

Accessory Dwelling Units can accommodate many different situations for homeowners whether they want to bring family members closer, make their property more marketable to potential buyers, or earn extra income by offering the ADU as a rented space. They can even maximize the potential income by renting out the main home while living in the extra space themselves.

When your property includes an ADU, that space can transform with each major (and minor) life change. A separate garage apartment might serve as a dedicated area to focus on new hobbies, somewhere for younger children to play, or a private living area for teens to gain more independence at home. A new business can take advantage of the separation of work and life when there’s a designated office space. That same dwelling can give college students a comfortable place to live during the short transition into adulthood or an elderly parent an autonomous lifestyle within close reach of their loved ones.

Have questions about ADUs? Please contact us any time, by phone or email! We always look forward to helping others better understand real estate, the home buying and selling process, and investment properties.

 

Our end-of-year goal is to reach 100 YouTube subscribers! Help us reach our goal by subscribing here.
Don't forget to turn on the notification bell to get all the updates!

Join us on Tuesdays at 1p for our "Dear Claire" Facebook Live series!

Follow us on facebook and instagram to learn about our upcoming open houses
facebook // instagram // pinterest // twitter // youtube

 

Open House Update :: September 8 & 9

While enjoying the gorgeous weekend, we'd love to see you this weekend at these amazing homes during our open house viewings. Stop by and check them out!

2207 NE 14th Ave, Portland (map/directions); Listing Price: $725k
Open House: Sept 8, Saturday, 1-3p


Details: Unique opportunity to own a grand 4-bedroom, 2-bathroom duplex home in Irvington. Currently rented for $3200/month, you can have a duplex in one of Portland's premier neighborhoods or convert it back to a single family home, it's up to you! This home has original woodwork and an expansive front porch. The home opens up to a huge, open plan kitchen and the living room is complemented by two fireplaces. The bedrooms and bathrooms are bright and spacious. The basement has all the space you need and is wired separately for you to use as your own personal shop! This house is a one-of-a-kind! (Listing by: Heather Paris)

1836 SE 45th, Portland (map/directions); NEW PRICE: $425k
Open House: Sept 8 & 9, Sat & Sun, 2-4p


Details: An investors dream come true! This 3-bedroom,1-bathroom classic bungalow home is perfectly located between the amazing districts of Hawthorne and Division, so you're just blocks away from all the excitement. There's plenty of potential in this fixer-upper. The kitchen and living rooms are bright and inviting, ready for all of your additions. The loft space is spacious, perfect to refurbish as a den or as a space to host guests. The 960 sq ft unfinished basement would be great addition as a family room or movie room. Bring your vision and your tool belt! Link coming soon! (Listing by: Chelsea McAlister)

1300 NE 68th Ave #12, Portland (map/directions); Listing Price: $250k
Open House: Sept 9, Sunday, 12-1p

Details: 
Sophisticated and affordable, this 2-bedroom, 1-bathroom condo in easily accessible Montavilla. Open floor plan with wood floors and remodeled kitchen. Two nicely appointed bedrooms and remodeled bath. Two covered parking spaces and private storage unit to boot. Shared outdoor deck and BBQ ideal for hosting get-togethers with friends.(Listing by: Claire Paris)

4401 SE 66th Ave, Portland (map/directions); Listing Price: $325k
Open House: Sept 9, Sunday, 12-2p

Details: Best bargain in Foster/Powell! This 2-bedroom, 1-bathroom includes an open living/dining room with warm wood floors. Nicely appointed, remodeled kitchen and an amazing yard, with an end of summer harvest waiting for you. Alley access to your garage for your cars and bikes. Link coming soon! Contact us for details. (Listing by: Claire Paris)

4724 N Missouri Ave, Portland (map/directions); Listing Price: $435k
Open House: Sept 9, Sunday, 1-3p

Details:
 This spacious 4-bedroom, 1.1 bathroom home is close to Mississippi District's cafes, shops, restaurants, and more! Well-appointed and remodeled with large picture windows facing west, charming built-ins, and hardwood floors gleaming with light. With an easy flow from inside to the deck and backyard, it's ideal for entertaining during these gorgeous late summer nights. (Listing by: Claire Paris)

9119 N Richmond Ave, Portland (map/directions); Price: $375k
Open House: Sept 9, Sunday, 1-3p

Details:
 This charming Victorian 2-bedroom, 1.1 bathroom home is located just blocks from downtown St. Johns! Features include high ceilings, warm wood floors, stained glass window, and French doors that lead out to your private deck and yard. The remodeled kitchen makes entertaining easy, and with 2 bathrooms - including a claw-foot tub! - hosting overnight guests is a breeze. The additional 200 square feet basement space makes for a great storage solution. A must-see gem! (Listing by: Claire Paris)

 

Can't make this weekend? Contact us to schedule a visit by email or phone, 503.998.4878.

Our end-of-year goal is to reach 100 YouTube subscribers! Help us reach our goal by subscribing here.
Don't forget to turn on the notification bell to get all the updates!

Join us on Tuesdays at 1p for our "Dear Claire" Facebook Live series!

Follow us on facebook and instagram to learn about our upcoming open houses

Open House Update :: August 25 & 26

Now that the air quality in Portland is mostly back-to-normal, we're looking forward to being outside this weekend and enjoying the last weeks of summer. We're hosting four open houses this weekend, so stop by and see us, at these three gorgeous homes.

4005 SE Ivon St, Portland (map/directions); Price: $425,000
Open House: Aug 25 & 26 (Sat & Sun) 1-3p

Details: Retreat to this cozy 3-bedroom, 1-bathroom bungalow, just one block away from SE Portland's hot Division neighborhood! Relax at home or indulge at fantastic restaurants and coffee shops located around the corner. This lovely home features an open and bright floor plan with a gorgeous wood-burning fireplace in the living room, two bedrooms and one bathroom on the main level. The third bedroom is in the expansive upper-level attic. Plus, an unfinished basement space is just waiting for your additions. See it today! (Listing by: Heather Paris)

235 SE 20th Ave, Portland (map/directions); Price: $425,000
Open House: Aug 26 (Sun) 1-3p

Details: Gorgeous Japanese-style bungalow in SE! The finest of Portland's food paradise just blocks away. Convenient access to public transportation, this house is a fantastic location. Tucked into a corner lot, the grand porch and open living/dining with built-ins and privacy will charm you! Two ample bedrooms and lots of space in the basement for more living space or storage. Private deck for those warm summer nights. (Listing by: Claire Paris)

4405 NE 75th Ave, Portland (map/directions); NEW PRICE: $465,000
Open House: Aug 26 (Sun) 12-2p

Details: This fantastic 3-bedroom, 1-bathroom home in NE Portland has everything you could want! A large living room, an upstairs lounge, and basement movie room provide plenty of living and entertaining space. Hardwood floors, Schoolhouse Electric fixtures, and ample light provide abundant charm throughout. A big backyard makes it ideal for summer evening gatherings and BBQs. (Listing by: Claire Paris)

 

Can't make this weekend? Contact us to schedule a visit by email or phone, 503.998.4878.

 

Our summer goal is to reach 100 YouTube subscribers! Help us reach our goal by subscribing here. Don't forget to turn on the notification bell to get all the updates!

 

Join us on Tuesdays at 1p for our "Dear Claire" Facebook Live series!

Follow us on facebook and instagram to learn about our upcoming open houses
facebook // instagram // pinterest // twitter // youtube 

Open House Update :: August 18

We hope you are enjoying your Friday and looking forward to the weekend ahead, I know we are! This weekend, we're showing these two gorgeous homes in NE and SE Portland. See you out there!

4405 NE 75th Ave, Portland (map/directions); NEW PRICE: $465,000
Open House: Aug 18 (Sat) 12-1p

Details: This fantastic 3-bedroom, 1-bathroom home in NE Portland has everything you could want! A large living room, an upstairs lounge, and basement movie room provide plenty of living and entertaining space. Hardwood floors, Schoolhouse Electric fixtures, and ample light provide abundant charm throughout. A big backyard makes it ideal for summer evening gatherings and BBQs. (Listing by: Claire Paris)

8616 SE Raymond Ct, Portland (map/directions); Price: $300,000
Open House: Aug 19 (Sun) 1-3p

Details: This thoughtfully updated Lents 2-bedroom, 1-bathroom bungalow has everything you need! It received a 10/10 home energy score – and its low utilities make living affordable and easy. Wood floors and updated kitchen and bath make this home the rare combination of comfortable and stylish. Enjoy your numerous producing fruit trees and lush garden oasis after a long day, or just relax in your ultra comfortable home and watch the sunset. An oversized garage with workbench means you have plenty of room to store your toys and tools. (Listing by: Claire Paris)

 

Can't make this weekend? Contact us to schedule a visit by email or phone, 503.998.4878.

 

Our summer goal is to reach 100 YouTube subscribers! Help us reach our goal by subscribing here. Don't forget to turn on the notification bell to get all the updates!

 

Join us on Tuesdays at 1p for our "Dear Claire" Facebook Live series!

Follow us on facebook and instagram to learn about our upcoming open houses
facebook // instagram // pinterest // twitter // youtube 

Is it Too Late to Sell my House?

sell my houseIf you’re wondering “is it too late to sell my house?” the short answer is; no! You’re not the only one thinking about selling a home this season in Portland. This year’s real estate market is still going strong for sellers. The average sold price in the Portland Metro area for June of this year was $449,950, up from $415,000 last year. Summer is a perfect time to showcase your home, not only because of the fair weather, but many potential buyers are taking advantage of the summer break to find a family homes closer to school districts for the fall. With summer in full swing, I’ve come up with a few tips to help you sell your home efficiently and effectively.

How can I sell my house quickly?

  1. How to price your home- Along with your agent’s advice, there are many resources online that can help give you an idea of the value of your home. It also is a good idea to browse your neighborhood to see what homes near you are selling for on the market. By doing so, you see what potential buyers see and it's easier to understand what a reasonable price looks like. When it’s time to finalize the price of your home, remember that inflating your pricing, just for the sake of competition, can reduce the number of interested home buyers. If something isn’t working, successful sellers have the strength to fail fast by making adjustments. For instance, if buyers don’t begin to view your home on a regular basis, this is a clear indication that the market is rejecting your price. Always keep in touch with your agent on price changes that could be made.
     
  2. Proper staging can make the difference– Even spending 1% of your home’s value on staging could make a world of difference. Especially when hosting open houses, giving your home a new, upgraded staging presence could intrigue potential home buyers and help sell your home quickly. Buyers want to imagine their belongings and memories in a new place, so make sure to set the tone of your home as neutral as possible.
     
  3. Prepare for the unexpected – Properties can sell quicker than you might expect, so it’s important to have a contingency plan for your moving day ready to go. For example, the selling statistics for your area could say that the average seller can sell a home in 26 days, but your home could get an offer in two. Typically, you will want to be out of the home at least a day prior to closing, but you may have other arrangements with your buyers. Just make sure you have a short-term plan laid out for every possible scenario when in the process of selling your home.

Have more questions about selling your home in Portland? Don’t hesitate to reach out! I can always help talk you through the process in greater detail.

 

Our summer goal is to reach 100 YouTube subscribers! Help us reach our goal by subscribing here. Don't forget to turn on the notification bell to get all the updates!

 

Join us on Tuesdays at 1p for our "Dear Claire" Facebook Live series!

Follow us on facebook and instagram to learn about our upcoming open houses
facebook // instagram // pinterest // twitter // youtube 

Open House Update :: August 11 & 12

August is here in full bloom. We're enjoying the summer days spent outside with friends, maybe barbequing or trying out a new dinner recipe. While you're out and about this weekend, stop by and see us for three open houses this weekend (one of which is a new listing!) We'll see you out there!

1836 SE 45th, Portland (map/directions); Price: $450,000
Open House: Aug 11 & 12 (Sat & Sun), 12-2p

Details: An investors dream come true! This 3-bedroom,1-bathroom classic bungalow home is perfectly located between the amazing districts of Hawthorne and Division, so you're just blocks away from all the excitement. There's plenty of potential in this fixer-upper. The kitchen and living rooms are bright and inviting, ready for all of your additions. The loft space is spacious, perfect to refurbish as a den or as a space to host guests. The 960 sq ft unfinished basement would be great addition as a family room or movie room. Bring your vision and your tool belt! Link coming soon! (Listing by: Chelsea McAlister)

4724 N Missouri Ave, Portland (map/directions); Price: $475,000
Open House: Aug 11 (Sat), 1-3p

Details: This spacious 4-bedroom, 1.1 bathroom home is close to Mississippi District's cafes, shops, restaurants, and more! Well-appointed and remodeled with large picture windows facing west, charming built-ins, and hardwood floors gleaming with light. With an easy flow from inside to the deck and backyard, it's ideal for entertaining in these long summer nights. (Listing by: Claire Paris)

4405 NE 75th Ave, Portland (map/directions); NEW PRICE: $465,000
Open House: Aug 11, 10a-12p & Aug 12, 1-3p

Details: This fantastic 3-bedroom, 1-bathroom home in NE Portland has everything you could want! A large living room, an upstairs lounge, and basement movie room provide plenty of living and entertaining space. Hardwood floors, Schoolhouse Electric fixtures, and ample light provide abundant charm throughout. A big backyard makes it ideal for summer evening gatherings and BBQs. (Listing by: Claire Paris)

 

Can't make this weekend? Contact us to schedule a visit by email or phone, 503.998.4878.

 

Our summer goal is to reach 100 YouTube subscribers! Help us reach our goal by subscribing here. Don't forget to turn on the notification bell to get all the updates!

 

Join us on Tuesdays at 1p for our "Dear Claire" Facebook Live series!

Follow us on facebook and instagram to learn about our upcoming open houses
facebook // instagram // pinterest // twitter // youtube 

How Much Portland Real Estate Inventory Is Out There?

Portland real estate inventory

With scenic outdoor wilderness and charming neighborhoods, it’s easy to see why Portland ranks in the top lists of places to live. If you’re thinking of buying or selling your home this summer, understanding what the Portland real estate inventory looks like and its future projections, will help with your decision-making process.

What is Real Estate Inventory?

Also called “active listings” or “homes for sale,” real estate inventory refers to the number homes on the market. Any time a seller lists a property, it’s considered part of the real estate inventory. The level of inventory calculated is variable, since it's a balance statement rather than a cumulative measure. Changes in the market can happen quickly, which is why the numbers for real estate inventory are captured at the end of each month. And there's a formula to figure it out: divide the number of homes on the market by the number of homes sold per month (on average) during the previous year. For example, if there are 56 active homes currently on the market and last year 236 homes sold in the same area (or 19.67 homes sold per month), that means there’s a 2.85 months supply of inventory - so just shy of 3 months.

What did Portland Real Estate Inventory look like this past Summer?

For Buyers
For buyers, more than 6 months of real estate inventory leads to lower prices and offers that are more likely to be accepted under the listed price. Since 2012, Portland real estate inventory has been rising steadily, especially this past July. Low housing inventory creates a competitive real estate market, but for Portland, real estate inventory is at 2.1 (just over 2 months), a 31.3% increase compared to last year. 

For Sellers
As a seller, a balanced market is considered 6 months, so despite the increase in real estate inventory, it's still a seller’s market. Less than 6 months of inventory favors sellers because there are less homes for a potential buyer to chose from. If you’re looking to sell your home, consider the inventory within your home's general area. The fastest selling areas in the Portland Metro area for this past June were Beaverton (20 days) and Hillsboro (22 days). The slowest selling areas were West Portland (57 days) and Lake Oswego (52 days).

If you have questions about the Portland real estate inventory, we're always reachable by phone and always available to help answer all of the questions you may have about real estate.

 

Our summer goal is to reach 100 YouTube subscribers! Help us reach our goal by subscribing here. Don't forget to turn on the notification bell to get all the updates!

 

Join us on Tuesdays at 1p for our "Dear Claire" Facebook Live series!

Follow us on facebook and instagram to learn about our upcoming open houses
facebook // instagram // pinterest // twitter // youtube 

Open House Update :: August 5

The first week of August is already upon us; how time flies. We're looking forward to enjoying a much needed weekend. Whether you're stopping by a new vintage store or enjoying the day outside with friends, don't forget to stop by and visit us for two open houses (one newly listed!) this Sunday. We can't wait to see you out there!

8955 N Clarendon, Portland  (map/directions); Price: $525,000
Open House: Aug 5 (Sun), 1-3p

This impeccably maintained 4-bedroom, 2.1-bathroom home is just blocks from parks, New Seasons market, and downtown St. John’s. It features ample bedrooms, a den, beautifully designed bathrooms, an attached garage, and plenty of storage space. The open living and dining areas include walls of expansive windows, allowing you to truly appreciate the sophistication and loveliness of the Sean Hogan-designed, low-maintenance landscaping. Make meals and entertain indoors in your beautifully-appointed kitchen with quartz counters and gourmet range, or outdoors on your covered patio or deck. Experience both the ease and grace of living in this gorgeous home. (Listing by: Claire Paris)

4405 NE 75th Ave, Portland (map/directions); NEW PRICE: $465,000
Open House: Aug 5 (Sun), 1-3p

Details: This fantastic 3-bedroom, 1-bathroom home in NE Portland has everything you could want! A large living room, an upstairs lounge, and basement movie room provide plenty of living and entertaining space. Hardwood floors, Schoolhouse Electric fixtures, and ample light provide abundant charm throughout. A big backyard makes it ideal for summer evening gatherings and BBQs. (Listing by: Claire Paris)

 

Can't make this weekend? Contact us to schedule a visit by email or phone, 503.998.4878.

 

Our summer goal is to reach 100 YouTube subscribers! Help us reach our goal by subscribing here. Don't forget to turn on the notification bell to get all the updates!

 

Join us on Tuesdays at 1p for our "Dear Claire" Facebook Live series!

Follow us on facebook and instagram to learn about our upcoming open houses
facebook // instagram // pinterest // twitter // youtube 

How to Buy Your First Investment Property

How to buy investment property

How to Buy Your First Investment Property

This week, we're answering questions and talking about how to buy your first investment property. Investment properties can be a great asset and a way to generate passive income if you’re willing to commit the time and money to it. It’s important to know what to look for in an investment property, how to use financial leverage, and the differences between a second home and an investment property.

What to Look for in an Investment Property

The biggest factor to consider is the neighborhood and accompanying amenities. Finding a good area, close to schools, shopping, and transportation will ensure you have long-term tenants. Something to be think about is purchasing fixer-uppers. In terms of what to look for in an investment property, fixer uppers can be a great way to start building equity. However, it helps if you have previous experience with the process and that you’ve taken the time to get numbers for the costs of repairs. I’ve also found it helps to have backup funds, just in case the repair bids increase.

What is Leverage?

When researching what to look for in an investment property, leverage is crucial step in the process. Leverage is how much money you borrow to finance an investment property, compared to the property’s worth. By using leverage, you’re able to purchase higher-valued properties and appreciate more over time. There can be an exceptional increase in equity once you’ve leveraged your property. To calculate your leverage, you divide your investment property financing amount by the property value.

For example, if you have $50,000 in cash, you can:

  1. Buy a $50,000 investment property, which is 0% leverage.
  2. Buy a $100,000 investment property, use your $50,000, and borrow $50,000. This equals a 50% leverage.
  3. Buy a $200,000 property using the $50,000 on hand and borrow $150,000, which equals 75% leverage.

If property values increased by 7% this year, you would make:

  1. With option 1, your property value is $53,500 and your net gains is $3,500.
  2. With option 2, your property value is $107,000 and your net gains is $7,000.
  3. With option 3, your property value is $214,000 and your net gains is $14,000.

Differences Between an Investment Property and a Second Home

It’s important to realize the main differences between a second home and an investment property. Investment properties are primarily purchased to generate income, save on income taxes, and revenue gained from appreciation in the property value over time. A second home could be a vacation home you live in for periods of time during the year or an Airbnb home you rent as a host, which we talked about last week. If you don’t live in a house on a semi-regular basis, lenders consider it an investment property.

If you're considering starting the process of purchasing or have questions about to what to look for in an investment property, give me a call! I’m always happy to answer your questions.

Don't forget to check out tomorrow's Facebook live video on how to buy your first investment property, at 3p this time!