Category Archives: Real Estate Stories

Portland Area 5-year Sales History by Zip Code

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Jackson Group 2012 Portland Zip Code Report

Our annual year end sales by zip code report is finally ready.  The first version had some inconsistencies so, with the help of our very capable resources at First American Title, we rebuilt our 5-year history.  What we have now is a fully updated and expanded version of our homes sales statistics for the last 5 years for the primary zip codes we service.

The recent Case-Schiller report on real estate confirmed what our multiple listing service has already reported, that Portland area home prices continued to fall in 2011, this year by about 4.3%.  As Realtors working in the trenches we can also report that sales in the first quarter of 2012 are improving, especially in certain areas and price ranges.  So, we have put together this zip code report to give you the picture of activity in your immediate neighborhood since 2007.

Why, you may ask, have we gone to all this trouble when so many pundits, economists and our own RMLS system have stats to provide us?  Well, we seek to locate meaningful information for our clients, and these details by zip-code are the most reliable, in my view, of what is happening at the neighborhood level.

So here, back by popular demand, is this year’s version.  I will add that, incrementally, since the new year we are experiencing stronger property views and a higher number of new sales. This is happening especially in the up to $400,000 price range, but also in the higher end with higher showing activity and more, though still challenging, offers.  All this supports the stabilizing trend for the real estate market.  It is tentative, yet better, and that is a significant change from continued decline.

Casey Condo – 311 NW 12th, #801 – $1,150,000 – MLS#11605123

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Check out our latest condo listing – 311 NW 12th, #801 -  the Architect’s choice in the iconic Pearl District building, The Casey.  Here’s another “sold in a day” story from The Jackson Group!

Well, it wasn’t exactly sold in a day, except from the buyer’s point of view.  I’ve known and represented the architect who designed The Casey, a LEED Platinum certified building, for several years.  Over the last year or so I have shown this home and now that my client is retired and traveling more frequently he suddenly got serious about selling.  My mission was to sell and close the condo in 3 months as the seller would then be off traveling the world again.  Nice!  No pressure.

Spin was hired to do professional photography and we prepared to market the 8th floor, east-facing view condominium beginning with a special broker event.  As an active broker in the Portland condominium scene, I knew a few people to call who I thought would be good prospects.  So I made those calls and scheduled one showing in advance of the broker’s open.  Before the photos were finished an offer was on the table.

This is a home worthy of a quick sale.  As I said before, this particular Casey condo was chosen by the architect to be his own home – and he had first choice when the building was new.  He loves it still, and wouldn’t leave it for anything, except in retirement he hardly finds himself at home in Portland.  It’s time to scale back to something just as lovely but more efficient.

So check out the pictures to see just what a winning condo – a winner in any market – looks like.  And, kudos to Chuck from Spin for the awesome photography.

Celebrating “The Village”

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We recently wrote about a transaction that we closed for our buyer that “took a village.”  All of the parties really worked well together and in everyone’s best interest.  By everyone I mean that both the buyer and the sellers took each other’s best interest into consideration when making requests and performing tasks.  The buyers stayed reasonable with their requests and the sellers consistantly took challenges with stride and performed without hesitation.  I knew from seeing the subject property that it was going to be a difficult transaction.  The unknowns were the parties involved.  So I truly feel that it was because the parties worked together that this transaction came together.

As a testiment to the village’s accomplishments, the new owners hosted a get together for everyone involved in the transaction.  Both listing agent and selling agent, the entire buyers’ family and both of the sellers, and the lender and his team were all there to celebrate.  We toasted each other with champagne and once again acknowledged that everyone deserved a pat on the back.

What happier ending could you ask for than a Kodak moment with everyone involved in the transaction.  It made my year and I thank everyone once again for all of their hard work!

Buyers and Sellers Celebrate

Buyers and Sellers CelebrateEveryone Cebrates

Back Inside the Bubble!

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by Becky Jackson

First time home buyers are the action area these days, and I have had great fun working with a few of them.  This weekend I found myself writing an offer for a “FTHB” client and our offer was the 5th to be written!   It’s a cute bungalow in Southeast Portland, so naturally, it’s a popular property.  Fortunately, this client is well qualified, has a generous down-payment and a great job.  Her offer should be competitive with the best.

But it may not end with 5 offers.  The seller, a lending institution, has made it a policy to list the house for 10 days, collecting offers, before deciding on a buyer.  So we will be on pins and needles through another weekend before the client has her answer!

In this buyer niche it’s like 2005 all over again!