Category Archives: The Jackson Group

Meriwether 404 – 0836 SW Curry, #404 – MLS#11151634 – $389,900 – SOLD!

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Buyer's Agent, Buyer, Seller, Seller's Agent, Escrow

There are some real estate transactions that just come together and move smoothly from start to finish.  Such is the case with the recent Jackson Group listing sold at the Meriwether in South Waterfront.  Real estate is not easy these days, even when the stars are aligned, and this one was not special in that way.  There were challenges.  Challenge #1:  the sale might have been a “short sale” except for the fact that the seller was willing and able to write a big check to his lender.  Challenge #2:  negotiations were long and deliberate, back and forth, and though this is normal today, being normal does not mean that the outcome is mutually satisfactory.  Challenge #3:  every deal these days has its share of complications – the condo certification, the appraisal, the inspection, the HOA issues, the insurance . . . we take all this in stride as Realtors and do what we must, and our clients find it an endless series of “issues” that we help them get through.

The uncommon outcome here is that both the buyer and the seller achieved their goals and were satisfied with the outcome.  The seller was “short” though willing to write the check, have the sale and move forward.  The buyer was careful and wanted a “deal” and came to a resolution that was energizing.  Mutual Acceptance was also mutual satisfaction!  The brokers knew each other from a prior transactions and have mutual respect.  They worked for consensus.  Goals were reached by all.

Achieving everyone’s purpose was not done because a buyer took advantage of a seller.  She didn’t.  And it was not because the seller made a killing.  He didn’t.  It is because they each kept their personal “big picture” in mind throughout the process and appreciated the other side along the way.  The brokers kept the lines of communication open and moving forward, helping the clients navigate the complicated and emotional process with willing cooperation.

It’s not everyday that we see group hugs at the closing table.  The Jackson Group is grateful for the many terrific people we work with everyday, all year, selling homes in Portland.  To each one of them we say “Happy Thanksgiving” and Thank you!

Becky, Matt, Sarah and Hillary

Becky Jackson’s Market Review by Zip Code

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It’s the season of “economic forecasts” for the coming year, and I have been attending and listening.  The report is that our national and local economies are, in fact, in recovery – even though we cant tell. The trend is positive, but with a very flat curve.  No surprise in this, and yes, the segments of the economy that are the drag are housing and unemployment, each tightly related to the other.

Hearing all this I thought it was appropriate to take a look at real data for housing in our neighborhoods.  I am attaching the most recent reports for our most active zip codes so that you can check your own neighborhoods and those around you click here.  We will, as before, have a complete year-over-year comparison at the end of the year.  And please let us know if you would like a more detailed report emailed to you that includes specific information about your zip code.

What I observe from the attached charts is that we are, really, seeing a stabilization of home values in many areas of Portland.  The Jackson Group works all over the metropolitan area with a focus on “inner” area neighborhoods.  I see in the graphs for these inner area zip codes a flattening, and in some cases, upturn in home values.  Our multiple listing data shows us that Portland overall has an average price decline of 4.2% for the 12 months (September to September) but the “for sale” inventory has dropped to the 6-7 month range, which is very close to market equilibrium.  Looking at closer in neighborhoods that inventory level is even lower, producing the “opportunity” for price strength to return.  I believe when we get a 12 month cycle that does not include last winter we will see a price appreciation statistic that reflects a lower rate of decline that the –4.2% we have now.

The Jackson Group has experienced a outstanding year compared to any since the bubble burst.  Today’s real estate market is one that requires knowledge and a culture of care.  We attribute our success to our ability to deliver excellent service at competitive rates (especially when you consider that you get 4 accomplished people on the team compared to the market standard of the lone ranger realtor)!  More importantly, we are focused on leading our clients and our colleagues with better knowledge, accountability, innovative approaches along with our strong team culture in order to help our clients get to the solution they seek.

As you meet and greet your friends and associates through the upcoming holidays, and the subject of real estate comes up (as it always does) we ask you to remember the Jackson Group as your “go-to” resource.  We are here for you!

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.

Meriwether – Sold on Day One! 3570 SW River Parkway, #1103 – MLS# 11046257

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We love to share stories of our clients’ real estate success!  We recently helped two clients, buyer and seller, achieve their goals on the same property.

The property is a Jackson Group listing at The Meriwether, Unit 1103 – MLS#11046257, listed by Matt Lesher.  With Matt’s good coaching the sellers were ready – set to sell with a property that was fully prepped and showed their pride of ownership.  They worked with Matt to set the perfect price, and it went on the market “priced right and lookin’ good.”

Matt lives in South Waterfront and has his hands on the pulse there, so he also knew the perfect buyer for this home.  One showing and the match was made.  Matt connected the buyer with Sarah Norton, our Buyer Specialist, who presented their offer and navigated the logistics of the transaction.  Sarah’s relationship with a solid condo lender and Matt’s intimate knowledge of the South Waterfront market made it possible for them to secure an exception from the lender for additional flood insurance.  Matt and Sarah worked together through the appraisal process sharing their knowledge of the market for all the buildings of South Waterfront

Mostly these days we all hear horror stories of how inspections, appraisals and underwriting standards wreak havoc on our transactions.  Those stories are true.  And that’s what makes this story all the more noteworthy.  With strong neighborhood connections, sincere personal relationships and strong professional knowledge we brought buyer and seller together with confidence and produced mutual satisfaction.  We avoided the skepticism and doubt that characterizes so many real estate sales these days.  And we did this holding the role of care and concern for making the clients’ needs the priority.

3570 SW River Parkway, #1103 was presented and accepted on the same day in August and closed September 23, 2011 at the asking price, $399,900 – a rare happening in Portland real estate these days.  Two happy clients are moved today and on to their new situations in life.

FHA Loan Limits to Change October 1, 2011

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Becky Jackson

The Federal Housing Administrations (FHA) limits the loan amount on mortgage loans they insure and that number is about to change. The loan limit is based on a set formula and range of values of the median home price in a particular area. For the Portland Metro area that limit is currently $418,750.  This is called the “conforming” loan amount.

Unless the current congress takes action to prevent it, the FHA loan limits will revert on October 1st to those limits that were determined by prior legislative action. This means that the new loan limits will be dropping to $362,250. Any mortgage of a greater amount will then qualify under the jumbo-loan category, a more costly and restrictive program.

If you are planning to close a home purchase loan or a re-financing loan prior or near to October 1st you must pay attention to your loan amount to be sure you avoid the added expense or credit restrictions of the new program.

Please contact one of us at The Jackson Group or your personal loan officer if you are in this situation. We hope that the current congress will see fit to extend the present program rather than put more pressure on the residential housing market. And to be safe, we are notifying all our clients to be prepared and close on time for any current loans in application.

Focus on Catlin Crest – 567 SW Regency Place – ML#11467518

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A special neighborhood in the close-in West Hills of Portland is Catlin Crest. High on Sylvan hills above Barnes Road Catlin Crest is a gated community of upscale and luxury homes ranging in value from $600,000 to $2,000,000. The neighborhood was created in the early-1990′s and most of the homes are from that era with many updates and remodels to their original style. The neighborhood is peaceful and tranquil and offers established landscaping, diverse architectural styles and winding streets ending in cul-de-sacs.

Catlin Crest is in a central Westside location convenient to downtown or Westside business and community locations. Catlin Gable School is a nearby private option, and the public school cluster is the popular and highly ranked Sunset High School District of Portland. While the neighborhood and addresses are Portland, it is actually located in Washington County, which offers some advantages on the property tax bill!

MLS #11467518

567 SW Regency Place - ML#11467518 - $695,000

The Jackson Group is currently listing a lovely traditional home in Catlin Crest at 567 SW Regency Place. In a very private setting with lush landscaping and an outdoor water feature this home in immaculately maintained, offers high ceilings and open spaces providing light and gracious scale. The master bedroom is on the main floor and additional bedrooms are upstairs. There is a large finished basement with a separate entrance offering a second family area for the active family or the home business. Please visit the virtual tour here to see for yourself.

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Portland: a Community of Colonies?

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PupuParty by the pool

Gene and I are on a spring break vacation in Maui this week and found ourselves socializing with other “mainland” visitors around the “Pupu Party” table.  We struck up a friendly conversation with a couple from the west coast who have a level of familiarity with Portland, which led to some fun comparisons of characterizations of Portland and its neighborhoods.  The gentleman referred to Portland as a city of colonies, and I thought “how truly apt” that description is!

Portland is a community of colonies!  It is true because we are a city with neighborhood zones, or “districts”,  that generally have a distinct personality and lifestyle story.  These districts stand apart in style and culture, but blend seamlessly into the large scene and style of Portland Metro – the city that is our larger persona.

The Pearl District is the uber-urban condo/loft and gourmet dining hub; Multnomah Village is funky, irreverent and earthy; Hawthorne is funky, veggie/vegan and political, if not a bit self-righteous :) .  Lake Oswego is waterfront, resort upscale and responsible; South Waterfront is riverfront, high-rise, sustainable and substantial.  Northwest is smart, sophisticated and full of shopping and dining while Northeast is smart, gritty and gourmet in a ‘locally-owned and operated’ way.  Alberta is hip, healthy, hungry, entrepreneurial and real; Selllwood/Westmoreland/Eastmoreland are gentle, reflective, family-friendly and nostalgic.  Forest Heights and Bethany are clean, green, new and high-tech; Portland Heights is historic, iconic, established and and a little worn then renovated like an old library.  Orenco Station is the suburban-urban town center while Hillsboro is the urban countryside, small-town center.

These are my sunset musings about the separate and distinct characteristics of some of Portland’s colonies, neighborhoods whose homes and commercial centers have their own identity yet share the collective nature of what it is to be  Portland.  Did I leave yours out, or miss the mark somehow in my descriptions?  Tell me your thoughts about Portland neighborhoods.

Savvy Investors Are Now Exploiting Real Estate Opportunities!

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Stocks, bonds and mutual funds – the usual financial assets – gained significant value in 2009.  I hope you have been a part of that run.  Now, there are great values to be had in real estate.  If it is appropriate for you, it is time to add residential real estate properties to your investment portfolio.  Residential real estate offers a particular benefit to an investor and offers a wide variety of opportunities.  According to Gary Keller, real estate investments are

1.      Accessible- Anyone can buy it

2.      Appreciable- Increase in value over time

3.      Leverageable- Buy on margin & borrow against equity

4.      Rentable- Cash Flow!  Cash Flow!  Cash Flow!

5.      Improvable- Sweat equity

6.      Deductible/Depreciable/Deferrable- Great tax benefits

7.      Stable- Slow to rise & slow to fall

8.      Liveable- Shelter in more ways than one….

Today, there are real estate investment opportunities in very neighborhood in Portland.  I am referring to properties that can be cash flow positive and likely to offer appreciation again over time.  We are evaluating these opportunities weekly and we want to share our knowledge about how to take advantage of them.  Our team has experience listing and showing property throughout Portland, including investment opportunities.  We have a comprehensive perspective on Portland property types from townhomes in Forest Heights to condos in the South Waterfront to bungalows in Montavilla.  And we know where investors look when assessing real estate for their investment portfolio.

Would you like to learn about investing in real estate?  How to determine the real estate investments best for your specific objectives?  This year I am presenting a monthly seminar on real estate investment strategies and all are welcome – those new to this type of investment and seasoned pros.  We will discuss strategies and practice analyzing specific properties.  Our January session was a great meeting and led to some very good discussions.  I hope you can join us next week or sometime this year.

Please be our guest for our monthly real estate investing seminar that is customized for our clients.  Our February seminar is Tuesday, February 15th at 6pm at our office in the Pearl- 1220 NW Lovejoy #130, Portland, 97210.  Our March session will be March 9th at 6pm at our Pearl Office.   The April session is April 20th and this session we will begin at 4pm to make it available to those who need to get home earlier.  Future dates will be announced soon.

Please RSVP- space is limited.  The number is 503-416-4177 or email to Becky@thejacksonfiles.com.

Urban Grind Cafe in the Pearl

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The Jackson Group is taking the next 4 weeks to visit a coffee shop during our weekly team meetings.  We will visit a new neighborhood oriented local coffee shop each week and report back on our thoughts.  Our goal is to connect with people, place and Portland.  And our visits and reviews of coffee shops is another opportunity for us to highlight Portland’s locally minded businesses.

Urban Grind Cafe

This week- we took a trip just a block from our office to the Urban Grind at 911 NW 14th in the Pearl District.  We have many special connections to this particular coffee shop.  The Urban Grind is located in the same building as the Marshall Wells- a historical loft building where we have a current listing.  We also have a client that is a barista at Urban Grind.

Becky and Carolyn at Urban Grind


Our listing in the Marshall Wells is unit 710, currently listed for $629,000.  It is a beautiful 2 level penthouse home, over 2000 sqft with a large balcony, warehouse windows and soaring ceilings.  It is a unique offering in the marketplace that is definitely worth a look.  Give us a call and we’d love to show it to you: 503-416-4178.  The Marshall Wells was originally built in 1910 and has a current tax abatement in place which lowers the property taxes for each home.  Here is a link to additional information about the home:  http://jacksongrouppdx.com/properties/detail.html?mls=RMLS&listingid=10042088&pn=4

Marshall Wells 710 listed for $629,000


Sean and I enjoyed Urban Grind’s custom roasted coffee which was very rich and not at all bitter.  Becky had the tea which was wonderfully served in a glass mug with a diffuser.  Our lunch of savory tarts, cherry turnovers and pasta salad was enjoyed by all.

Urban Grind offers free internet service and lots of space to spread out and study.  We observed many students with their biology books open with a constant flow of coffee in their ceramic mug.  It is a warm environment, an ideal location in the Pearl and close to us at Realty Trust.  We’d love for you to pop-by on us sometime and we’ll take you for a cup of coffee at Urban Grind.

State of the Real Estate Nation 2011

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Watch out for the danger in the usual pontificating that always starts the year.  It can hurt you!

I have a different take on what’s happening in Portland Real Estate.  I’m not writing to be a cheerleader for buying real estate, to express wishes for a strong recovery or to reassure you that The Jackson Group is still here and selling homes as before – though all are true!

My intent is to take the hype and sensationalism out of the conversation and show you the truth, in your neighborhood, in numbers and graphs.  Forget the headlines in the newspapers or the painful videos on the evening news and take a look at the data for your zip code in the charts and graphs attached.  You’ll see information that is confirmed by actual sales data rather than pundits’ impressions or broad statistics, such as the country and state numbers that are not relevant to you.  What the numbers here show are hyper-local details that more specifically reflect your own individual neighborhood – and the news, whether expected or not, is telling.

For example, in many of our inner Portland area neighborhoods the drop in the number of sales mostly occurred in 2008 and since that time sales have been relatively stable.  That tells us the demand for housing has adjusted and is stable again.   The number of sales, for the most part, stopped tumbling in 2009 and is either flat or slightly higher today.

On the other hand, prices are still falling, though at a lower rate of decline.  The drop in the average home price was the most significant from 2007-2008.  The fall was especially severe in neighborhoods where the overall value is generally higher.  And in those ‘high-end’ areas the decline has continued more steadily.  This includes the areas of Lake Oswego and the West Hills of Portland where the loss in value over 4 years is in the range of 27%-38%.  In areas where the average home price in 2007 was near $500,000 or less, the decline in value over the 4 year period is most often less than 15%.  This confirms a reality that we have observed anecdotally, that once the price goes above $525,000 the probability of a requirement for higher equity or a jumbo mortgage changes the level of demand.  This puts greater downward pressure on the price of those high-end homes.  In areas where the average price is below $500,000 the rate of decline in home values has slowed dramatically.

So what does all this mean to our clients?  Find your zip and compare the numbers here to what you may have thought based on the conversation in the national and local press.  Are you better or worse off than you expected?  If you are surprised by what this tells you, good or bad, give me a call and let’s talk about why.  Is there something about your home or community that sets it apart?  Maybe. Either way I welcome a conversation with you to assess your specific situation, especially if you have reason to move in the near future.

While the challenges are significant, the market shows signs of steadying.  More importantly, house by house the resale possibilities vary based on specific house and neighborhood conditions.  We have successfully sold and moved many clients through this “shifted” market and we have become well schooled in the new rules and peculiarities of home sales today.  If you are ready to move, don’t let the headlines stop you from calling us for a precise assessment of you situation.

We have several new offers in real estate to add to our services for home buyers and home sellers.  We are successfully selling and negotiating “Short Sales” with lenders on behalf of our clients who have more debt than current value.  If you need help with this situation, we have it for you.  As well, we are engaging more and more with real estate investors who want to take advantage of the adjusted market and accumulate rental real estate.  With a 20-25% down payment there is very favorable conventional financing available for qualified investors. There are many properties on the market now for investors to consider that are well priced and cash-flow positive.  This may be a good time for some to begin or add to a real estate portfolio.

To help our investor clients I am offering an investor seminar monthly for the entire year.  The first one will be Thursday, January 20th at 6pm at our office in The Pearl.  Please join us, all are welcome.  If you have questions, or to register for the session, please send us an email at Becky@thejacksonfiles.com or call the office at 503-416-4177.

Good wishes to you for 2011,

Becky Jackson

If you would like a more detailed look at these charts- please email us at becky@thejacksonfile.com