Portland Real Estate News

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2009-01-15T17:36:00.000-08:00

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2007 Portland Real Estate Review

2008-01-30T10:18:00.000-08:00

Well, the verdict is out: Portland real estate market is officially a Buyer's Market. Though the first half of 2007 appeared to be strong, the second half clearly showed signs of decline. As of December 2007, the Portland real estate market has 8.5 months of inventory, despite a 7% increase in property value.

So, is the Portland real estate market still viable? As compared to the rest of the country where most are having negative growth, the answer is a definite YES. Why? Our market had always had moderate growth on an even keel, unlike other states where growth were in excess of 30% annually. The growth of the Portland market paces well with the increase in population and jobs. This made appreciation sustainable. As a result, Portland has one of the lowest foreclosure rates in the country in spite of the over heated market in the last few years. We're also one of the three cities where there's still positive growth.

Having said that, the 8.5 month of inventory as of the end of December is not something to sneeze about. Though the number is measured in the low season of real estate, that's significantly higher than 2006 same period. As a rule of thumb, when inventory piles up to exceed 6 months, that usually signifies a downturn.

We'll watch carefully the first quarter of 2008 to see if the actions from the Feds can adequately fence off a major downturn.

2006 Portland Real Estate Review

2007-01-24T13:52:00.000-08:00

2006 turned out to be an interesting year. During the first half of the year, every one is so gung ho about real estate. No one even had the slightest thought that our market is going to slow down any time soon. Well, for those insiders like us, we believe that we'll ride high for another 2 years. Then in mid summer, Intel announced their large layoff plan. The media created a series of sensational news how our real estate market is heading towards a crash landing. Overnight, everyone panicked. Properties that usually took a couple of weeks to move were suddenly sitting on the market for months.

Then in December, there's a reversal of fortune. Our housing inventory suddenly got tighter. People are buying again. Prices are rising again. Builders are building again. All is good.

What's going to happen in 2007? Well, I wish I had a crystal ball to tell you the future. I don't. But what I can tell you through deduction is that our real estate market will continue to thrive. We may encounter a speed bump or two in the next 5 to 10 years, but our foundation for a strong market is there. Here's why:

1. The Oregon economy is stronger than ever. Whatever layoff from Intel is only a tiny fraction of our employment. The fundamentals of the city will keep on attracting young talents, companies to be located here. Our economy will continue to thrive.

2. Portland is "still" the most economical city to live in the entire West Coast. With our mild winter and cool summer, the city will continue to attract people from all over the country. That helps us solidify our population growth of 2 million by 2025 (doubling the current population).

3. Unlike places like Nevada, Florida, and Arizona where they're attracting mostly retirees because of the warm weather, Portland is gaining population from all walks of life, from working families to single professionals to retirees.

4. Our real estate growth had never been crazy like other "hot" spots in the US. The highest appreciation that we ever had was 17% in 2005. We haven't priced ourselves out of the market, at least not yet. Growth is a given, despite that it might be more moderate in the next several years.

Time to Buy, Sell or Panick?

2006-11-26T11:06:00.000-08:00

Like any other investments, real estate has its own cycle of ups and downs. But unlike any other investments, real estate is "THE ONLY" investment vehicle where financial institutiions are dying to give you the money to invest in or to buy a home. I think we can all imagine the reaction of a banker if you ask him for $1000 to invest in the stock market: "NO! Get outta here! You fool." If you walk in to a bank and ask for a mortgage, the likely response you get is: "How about a cup of coffee?"
We've all heard from the news about the slowing real estate market across the country. Portland, however, remains as one of the very few cities that still has positive gains. According to various sources, including research from the National Association of Reatlors, Portland real estate market will continue to grow. Sure, prices are coming down for some homes in the Portland area, but in my opinion, that was the result of over-aggressive pricing that needs to be corrected. Some sellers or perhaps their Realtors have over-estimated the worth of the homes and resulted in pricing above the market. Unless the home has some very special features that no other homes have, a pricing correction is inevitable.
To gauge the solidity of our real estate market, we need to look for the soundness of our market fundamentals. Do we have real growth in population? What are the prospects of employment? Has our appreciation been reasonable and consistent in the past?
GROWTH IN POPULATON
According to an article in the Oregonian in Spring 2006, our population in Metro Portland wil double to 2 million people by the year 2025. The other half are going to be Californians. Judging from our own business trend and our own neighbors, it's going to be hard to dispute that. The fact is, waves of Californians are coming up to Portland for our lifestyle, our stability, and our real estate.
EMPLOYMENT

Unemployment rate in Oregon hovers around 5%. Jobs in engineering, architecture, nursing, and to a certain extent software have posted strong gains. This reflects the long term strength of our economy.

APPRECIATION

The term "slow down" is relative. What we are calling slow down is being compared with the last two years of highly unusual growth. The Portland real estate market is still stellar by any means. Despite the fact that homes that a little longer to sell, Portland home prices are still increasing at a rate of 15% throughout 2006. Having said that, this rate of growth is unlikely to continue if our housing inventory continues to build up. At some point in 2007, the price correction is inevitable to retain the stability of our real estate market. To get the latest appreciation figures, click here.

Real Estate Videos

2006-10-08T14:18:00.000-07:00

A big part of our business is helping our clients relocate to Portland. Quite a number of have absolutely no clue what Portland is like. Like me and my family, we moved to Portland 8 years ago without having any image of what the city is like, except that we "heard" it rains a lot. We sure wished that there was some kind of video image we could access freely. We were even willing to pay for it.

I've been wanting to put up video tours of Portland ever since we started our web presence. But at the time, there just weren't enough people who have DSL or broadband access. When we checked the statistics last year, there was only about 45% of the our visitors accessing our site via some kind of broadband connection. This year, however, that percentage has increased to a staggering 85%. It's just incredible to see how broadband is adopted by so many people over a short one year period. Well...we knew it was time for us to put our video tour concept out on our site at MaxwellSinclair.com. You can now see a series of Portland neighborhood Video created for all.

We hope that the video tours can help anyone moving to Portland. Enjoy!

Cooling Off

2006-07-28T13:21:00.000-07:00

We've been getting record heat all across the country in the month of July. The real estate market in Portland, like many other places around the country, is showing some initial signs of a cool off.

According to the June real estate statistics, we're still seeing phenomenal growth (17% average) in terms of sold prices, available inventory is on the rise 3 months in a row. That indicates that our market is beginning to turn in favor of the buyers. Is it a buyer's market yet? Well, not quite but we'll slowly get there.

For homes in the under $500,000 range, they're still moving relatively fast. We're still seeing competing and multiple offers. Those above this mark, things are really taking a slower turn. What used to sell (e.g. in the West Lake neighborhood in Lake Oswego) within 2 weeks last year has been sitting on the market for over 2 months. Partly, that's because sellers are still expecting the same kind of growth rate at 17%. So they inflated the asking price by a large margin. Guess what? Few takers. Interest rates has gone up by a whole percentage point. That means: for every $100,000 we borrow, we have to pay about $100 more a month. So a $500,000 loan is $500 more. That certainly enough to make some people turn to either lower priced housing or a different area altogether if they want to maintain a certain level of life style.

Investors are also taking a much more cautious approach. The days when they could simply close their eyes and throw the dart and they'd make money are gone.

In a way, the market cooling is a healthy sign. Real estate in the last 2 years had been growing at a dangerous rate, making housing unaffordable. Not that I want to see home prices go down. But too much growth at too fast a rate is certainly bad news. You remember the old saying: "the higher you climb, the harder you fall". This certainly could be the case in the market.

State of the Market

2006-05-30T08:52:00.000-07:00

Though the statistics continue to suggest that the Portland real estate market is still appreciating at a rate of over 16%, this number could be misleading. We are seeing inventory staying on the market a little longer than last year. This is particularly true for homes of $600,000 and above. For the $200k to $500k segment, homes are still moving steadily.

A 16% is typically indicative of healthy growth. However, we also need to take this number with a grain of salt since the actual market behavior supercedes the appreciation record. That is, home sellers are still pricing their homes high without responding much to the market quite yet. As a result, the successful transactions are still recording a high sales price.

June, July and August will be the three months to watch as we enter the super high season of real estate sales. By end of June, we'll have a better idea of which way the market is going. Stay tune!

Going to be another good year in real estate

2006-04-12T21:00:00.000-07:00

Just when the statistics and news are saying that Portland real estate might be slowing down, I've encountered 4 deals this week that have multiple offers. One of the deals was the cutest bungalow in Hillsboro. First day on the market, six offers went in. The last bid was way above asking price. Another deal today for a house in West Linn got 3 offers. It was on the market for 2 weeks. When suddenly there's one bid, everyone else wanted to jump on it. From what I'm seeing, it's going to be another great year in real estate in Portland.

A Chat with Industry Leader

2006-04-09T20:00:00.000-07:00

I had a chat with the lead manager of one of the best developers here in Portland. She was telling me that though their condos and townhomes have a wait list all the way to November 2006, the industry is taking a very cautious approach to a possible downturn of our market.

The front page of the Oregonian talks about how the tech industry in Oregon is no more; how Intel and other high tech companies are having hiring freeze. Our city is dependent so much on these high tech companies to create jobs and generate revenue, if the tech industry fall, we'd really have to relook at the whole real estate thing and ask what's next. The economy and the real estate industry will go down when people start to talk about it going down - not in board rooms but in BBQ parties, causal dinner conversation, etc.. When people start to panic, that's when all hell broke loose.

Feb 2006 Appreciation Data out

2006-03-24T21:04:00.000-08:00

The Feb 2006 appreciation information has just been published. Overall, Portland appreciation shows a 16% increase as compared to Feb 2005 data. Though it's still a very healthy sign, the housing inventory increased a bit to just over 3 months. That is, it will take about 3 months to deplete the entire housing market inventory. We will be watching that number closely for it's a critical indicator of how our market will perform in the coming months.

Portland condo market

2006-03-15T13:47:00.000-08:00

A client of mine from California asked me this morning: "where else in Portland is a good investment for condos?". This client already owned a couple of condo investment properties in the suburbs and is now considering other places. I didn't hesitate much to tell him that downtown Portland is likely to be the way to go.

In a previous post, I mentioned before that we're anticipating a large number of baby boomers hitting the retirement age. This group of market typically are empty nesters, tired of living in the burbs, no longer need a 3 or 4 bedroom house with a yard to take care of, crave more fun things in life like restaurants, walk to shops and parks, theaters, art. There's no where like downtown in Portland that offers so much and have the potential to fulfill these needs. Unlike many larger cities in the U.S., Portland doesn't really have all the gourmet food, theaters and such aside from downtown. So in a way, all these amenities are concentrated in one 5 square mile area. As more and more condos are built in the next several years, the demand is highly likely to surge more than this growth, considering the number of Californians coming to work and to retire in Portland. One of my other clients did say once: "we'd rather live richly in a smaller place than to live poorly in a large cosmopolitan city". And he's right.

So...am I confident about the Portland real estate market, particularly the condo market? You bet.

Portland Real Estate 2006

2006-03-05T20:30:00.000-08:00

Well, the January 2006 data came out several weeks ago. The appreciation numbers were staggering. Most areas in Portland experienced double digit growth and many neighbhorhoods had a close to 20% growth for the period between January 2005 and 2006. Despite the constant rain throughout December and January, and that January being the slower month in real estate, this kind of percentage growth is incredible. For more details of the appreciation data, go to http://maxwellsinclair.com/portland_appreciation_report.php.

The Oregonian also published the popuation growth data for the next 20 years. It's been estimated that our population will grow from the current 1 million to over 2 million by 2025. And the other half will all come from migrants from California. We're already seeing many Californians moving up to Oregon for work, family, and retirement. And given the real estate prices in California being almost unattainable for many people, we'll see a wave of migrants coming through to Portland. As I've been telling my clients, Portland is the last outpost in the West Coast where real estate is still relatively afforable.

This is all positive news for real estate at the beginning of 2006. More later.

Different Feng Shui Schools of Thought

2006-02-10T17:11:00.000-08:00

I was with a new client yesterday. She knows quite a bit about Feng Shui so we had a discussion of what kind of homes we're going to find for her in Portland. Her knowledge of Feng Shui leans more towards the Compass school. So she wants a home with a certain compass facing.

From our personal experience, the Compass School branch of Feng Shui hasn't given us great results. For one, it's so hard to find a home with a certain directional facing and with good chi from the environment at the same time. A lot of times, when we find one with the right direction, there might be bad chi or worse, no chi at all. When a home doesn't have good chi reaching it, no matter how good the direction facing is, it's not going to help. Chi or energy is the center premise of Feng Shui, of Chinese medicine, of live, of the universe. Without energy, everything else is secondary.

So without chi, nothing else matters. However, if we find a home that's not the best directional facing for the particular person, but the chi is good. Then it's something that can be remedied. If it's the other way around, we can't bring the chi in if it simply isn't there.

After our conversation, we're both convinced that finding a home with good chi should take priority over directional facing. I thought I'd share this in the blog in case anyone else is wondering about the same dilemma.

Real Estate 2006 - BOOM or BUST?

2006-01-20T19:00:00.000-08:00

The local newspaper, the Oregonian, published an article just last week regarding the state of our real estate market. It was all rosy. The Oregon economy is strong, the unemployment rate is low, and businesses are booming in general. Plus, our interest rates are still at all time low. From a technical standpoint, all indicators are pointing to another great year for real estate. There just isn't any signs of a slow down whatsoever, unlike some other "HOT" markets around the country.

What worries me is this: the real estate boom or bust is NOT dedicated by economic indicators. It is, like the state of our economy, dictated by the confidence of the people who are buying and selling real estate. It is dictated by all the behind the scene talks among people during parties, dinners, or other casual conversations. If there're enough people who say the so called "Bubble" is going to burst soon and people believe that, then without a doubt, real estate is going to hit the downward trend. None of those technical indicators can tell us that. It is "we" who decide the fate of our investment collectively.

Despite that our economy is going well (probably one of the best in the last 20 years as far as Oregon is concerned), there're still people who fear the bubble is going to burst any time soon. These are the people who create the chain reaction. Empires, economies have fallen due to collective confidence, or the lack thereof.

So judge the real estate market yourself. For those who are buying a home for yourself to occupy in, have no fear. The real estate market is like seasons. It will go up and it will come down. But over the long run, it always does well in any market, anywhere in the world. For those who are doing it as an investment, then timing is everything. If your investment strategy is for the long term, again have no fear. Just wait for an opportune moment to reevaluate and sell what your own. If your strategy is for the short term, then look at the economic indicators and evaluate how long the strength is going to be there for. For those who uses a mid-term strategy (4 to 5 years), well, I think that's the trickiest. A lot of things can and will change in that period of time. Perhaps it might be safe to scale those strategies to prepare for a short term exit. That should be part of parcel of your investment game plan.

Interest Rates Up again

2005-10-04T12:35:00.000-07:00

Bonds were hit hard yesterday and are trading slightly higher this morning. Traders will be listening to three Regional Fed Presidents speeches today. Their comments could provide for some volatility mid-day.

More importantly much attention is focused on Friday’s jobs report. Given the volatility of this report and the recent hurricanes anything is possible and we expect this report to be a market mover.

Rates remain on an upward trend. For those of you who are looking to buy a home...hurry and lock your rates in.

2005-10-03T20:54:00.000-07:00

Many clients have been asking me about those nice water front properties that perch along the Willamette River. Most of those condos are sold within a few weeks after being released. And...most of them are strictly owner-occupied only. That is, no investors and rentals allowed.

Now, that's indicative of the changing market trend. These waterfront properties are designed to attract people who want downtown living, close to shopping, gourmet restaurants, theatres, and other what we called "yuppie" activities. These condos ain't cheap. The price range typically is from $300k to $2.5 million (for the penthouse units). The people who are buying them are Portlanders who already have homes in the suburbs like Lake Oswego. They're wanting a different life styles. This trend is likely to spark growth around the downtown area. Other condos circling the waterfront neighborhood is likely to grow as a result.

Interest Rates Inch UP

2005-09-27T20:38:00.000-07:00

Interest rates are definitely starting to creep up the last few days. A 30 year fixed with 1 point is almost 5.9% today. Most people might think that this would cool down the real estate market. But from our experience, this might just spark another growth cycle. You see, it's all about buyer's psychology. People will start to believe that if they don't get into the market "now", they'll have to pay more. If all goes right, we shouldn't see a dramatic change in real estate in Portland though the winter months are just around the corner. Typically, November and December are the low seasons for the home buying market. With this interest rate increase, we shall see the true effect.

Portland broke the BIG $300,000 mark

2005-09-22T20:59:00.000-07:00

Yep, hot off the press: the Portland average real estate prices just broke the $300,000 mark in August 2005. We made history.

While we're seeing a lot of reports all over the country that real estate prices are slowing down or tappering off a bit, the Portland market is still as hot as ever. We're particularly seeing a surge in Californian migrants and investors. Many real estate owners and investors alike are cashing out and reinvesting their real estate dollars in Portland.

A word of caution to investors, however. Don't just go around and buy another condo or townhome. You'll find it difficult to get tenants. As such, you'll likely to run into negative cashflow. With interest rates still low, many people who used to rent have gone to buy a home instead, paying just about the same amount as rentals. So there are just fewer renter around. An over supply of condos and townhomes available is prevalent in our market already, particularly in the popular Beaverton and Hillsboro markets. Many property managers are not even taking on any more condo clients. So investors, beware!

If you're thinking of buying income properties, consider investing in a single family home instead. You'll find that those people who used to rent condos shifting over to single family homes for more space and backyard.

Portland Condo and Townhome Investment

2005-06-30T13:56:00.000-07:00

If you go to Beaverton and Hillsboro areas these days, you'll see condo & townhome developments popping up literally in every corner. Even with a lot size of just over 15,000 square feet, you'll find brand new row houses all cramped together vying for a piece of the Portland real estate boom.

This is relatively good news for first time home buyers where single family homes are beginning to be priced out of reach. Condos and townhomes are good alternatives as starter homes. For under $200,000, you can easily find a 2 bedroom, 1 to 2 car garage, 1,500 SF condo or townhome, complete with designer paint palette, bonus room, and the list goes on. For that price, even with 100% financing, the monthly payment before tax and insurance would be just around $1,000 given today's low interest rate.

For investors with low equity, this spells trouble. This is particularly true for those who own 3-BR condos where the rent has been between $1,000 to $1400 depending on the area and facilities. The rental rate, literally, has priced itself out of the market. It's easy to see why people with that amount of cash would rather buy than rent. So the only chance of getting positive cashflow is to have almost 50% down in equity.

For those in the 2 to 3 bedroom range, there is a similar story. Investors will need to have a minimum of 30% to 35% equity in order to have the hope to break even.

What's more? If you're not into managing the property rental yourself, it's hard to even find a property manager out there who's willing to take on a condo or townhome project, with the exception of the Pearl District downtown where there's still a constant demand for space.

As far as Beaverton and Hillsboro is concerned, investors should definitely rethink their strategy. Despite that the long term appreciation gain is still solid, the short-term cash flow has been seriously affected.

Interest Only Loans Boost Portland Market

2005-06-11T18:19:00.000-07:00

Three years ago, if I were to mention to my clients about interest only mortgages, ninety percent of them would laugh at me...thinking it was the most ridiculous thing to do.

Today, about 1/3 of the home loans out there are interest only. Thanks to the all time low interest rates (lowest in the last 50 years), people are borrowing left and right, paying no principal and enjoying a low monthly payment. For an average loan of, say $200,000, an interest only loan could save up to $200 a month compared to a 30-year fixed conventional loan.

Aside from our borrowing rates being at all time low, this phenonmenon is partly driven by the soaring home prices. Interest only mortgages help create home ownership and making home purchase affordable on a short term basis. The combined effect tempts renters to purchase homes quickly. As such, a surge in demand drives the housing inventory even tighter than ever. Simple economics, when demand exceeds supply, prices go up.

However, what's going to happen after the "honeymoon" period when repayment of the principal is due? Or when interest rates shoot up to the good old double digit? For those folks who have taken advantage of the interest only, no down payment option, they could be in for a shock. Most mortgage bankers would tell you to refinance after 3 to 4 years to secure the lower long term interest of a conventional mortgage. However, when a home owner purchased a house with $0 down, interest only loans, he/she is not likely to have enough equity in the home to refinance.

Traditionally, only the wealthy could afford to take the risk of interest only loans. The interest rate fluctuation isn't going to make them or break them significantly. When this type of loan become a mass product, however, there's danger ahead. We're likely to see a rise in the foreclosure market in the next 5 years if interest rates go above 8% to 9%.

Portland Real Estate - Full Price or Nothing

2005-05-25T14:55:00.000-07:00

Real estate prices in Portland, Oregon continue to soar. Everybody knows that. This is already a national phenomenon.

As a Realtor, sometimes I'm in awe at the speed and price of properties sold. Just when I finished doing a CMA, thinking that the price of a piece of property should be X. Before I get a chance to recommend a reasonable offer price to my client, the house was sold at X + a hefty premium. Honestly, some of the homes I've seen are not even fantastic. They get sold anyway, either at offer or above offer. It's almost reached a point of "I like it, I buy it" type of mentality. The fact is, if you don't, somebody else will.

My client and I tried to buy a home listed at $215,000. The price wasn't cheap, just above "market", I'd say. My client insisted on bargaining it down to $213,000. Well, $2,000 isn't a big deal so I let him. After all, we Realtors are supposed to follow instructions. The seller came back with a BIG "Rejection". Didn't even want to bargain or counter. That's the kind of sellers' market we're in these days.

Portland Real Estate News

2005-05-23T14:40:00.000-07:00

Portland Real Estate News

Some Feng Shui Tips

2005-05-23T14:39:00.000-07:00

1. “No Blue” Rule:
No blue roof
No blue exterior
No blue bathrooms
No blue kitchen
No blue bedding

Portland is a city that leans towards the yin side. Yin is feminine, nourishing, healing. However, too much yin energy can make you feel less energetic, even lethargic. Blue represents Water element and it is a very “ yin ” (or passive) color.

If you use blue on the roof of your home, it will keep you from earning a lot of money. The same thing will happen if the exterior of your home is blue. You'll find your earning power dwindling and weakening gradually, so that budgeting becomes a real concern. There's no power from blue here!

Blue roofs, however, are GOOD for bars or for restaurants that want to do morning or brunch business. (They are terrible for dinner business, though). Think IHOP!

In bathrooms or in the kitchen, you already have an excess of Water element from your water-based things like sinks, tubs, showers, toilets, etc. This can cause imbalance. The last thing you want is to add MORE water to the situation! That's why you should never decorate bathrooms or kitchens with the color blue.

Blue is also considered too “ yin ” to be used for bedding. Daytime or sunlight is a yang force, and nighttime or moonlight is a “ yin” force…because it is already yin at night, if you use blue bedding it will make you too weak. You'll develop stamina problems, restlessness, or just generally feel tired.

2. Try Not to Choose A Corner House
I know a lot of people like corner homes because it has more yard space and such. But did you know that corner houses can also be problematic? It is never good to buy a house that sits on a corner, particularly if it is on the corner of a fairly wide or busy road such as one with a traffic light, bus stops near by, or speedy traffic. For commercial property, however, it's the opposite. The yang energy brings customers.

3. Make Your Address Lucky - Quick and Easy
A quick and easy way to add some luck to your home is to make sure that the sum of all the digits of your house number is 8.

In the Chinese calendar, energy changes according to the era. We are currently in a new 20-year era which began on Chinese New Year in 2004 and will last until 2024. During this era, the lucky number is 8. If you get the chance, choose plenty of 8's in your life during this time.

One especially good way to energize your home is to make your address total the lucky number. Here's how to do it: Suppose you live at 10335 Main Street. Add the numbers in your street address individually: 1+0+3+3+5= 12

Now reduce the sum to a single digit like this: 1+2=3.

Currently the number energy from your address is 3. To turn it into lucky 8, you'll need to add 5. Do this by painting a 5 onto the front or the back of your address – in clear nail polish! No one will know it is there, but the energy of your home will be revitalized.

4. Small Over Large
When you hang decorations or pictures in your home, make sure you hang small items on top of large items. Never hang a large item over a small item! If you do, you'll create an energy of worry and apprehension that will spread to everyone in the family.

5. Less Is Best
Pare down your belongings so you aren't cramming more stuff into your life than you really need or have room for. Make some space by giving away, selling, or throwing away things that you don't need, that you don't use, or that are broken and can't be repaired.

Next, think twice before you bring new things home. After all, you don't want to “re-clutter” the space you've just managed to “de-clutter”. The basic rule should be to always buy the best quality you possibly can afford, but to only buy things you really need, want, and will use. Remember, less is best…and quality does count!

“18 Feng Shui Secrets for Buying and Selling Homes”
Need more Feng Shui tips? I've authored an exclusive Feng Shui guide for those who are interested. You can visit my web site at http://www.maxwellsinclair.com/feng-shui.php and sign up for an e-copy. Or you can call my toll free number: 1-877-629-5825 ext. 398 and get a hard copy sent to you. This is a FREE community service.

For Feng Shui consultations with Ally Sinclair, Master Feng Shui Practitioner, as seen on ABC News and The Oregonian, go to: http://www.threepennylane.com/1on1/1on1.php

Portland Real Estate Market

2005-05-23T14:25:00.000-07:00

Talk about crazy! The Portland real estate market has entered a new phase. Homes, townhouses, and in some cases, even condos, are flying off the market. People are grabbing homes, almost any homes regardless of price.

I was tracking this townhome area in Beaverton (just bordering Hillsboro) developed by a reputable building company. For exactly the same home, there was a 15% difference in asking price. And you know what? People pay for it in full price anyway. Another example: my clients and I were considering this single family home asking $237,000. In my mind, I thought it was a little over-priced considering that the house across the road just sold for $224,000 and it was in better shape both inside and outside than the one we were considering. Well, 2 days later, that house was sold for $251,000.

Consider the Portland market is moving at a rate of about 10% annual appreciation, we're likely to see it hit another 4% to 5% point by the end of the year if this buying craze continues.

Our analysis is this: as long as interest rates remain reasonable and that the tech industry continues to thrive, the housing market in Portland will do well...very well.

Home Feng Shui Challenges in Portland, Oregon

2005-05-23T14:10:00.000-07:00

Many homes in the Portland, Oregon area, particularly in the suburbs, were built with floor plans that present many Feng Shui challenges.

When Feng Shui is poor in a home, it could lead to arguments among family members, lack of energy, legal disputes, or runaway expenses. In some severe cases, it could lead to loss of jobs, divorce, or bankruptcy.

In our 15 years of practicing this ancient Chinese science, we have seen it over and over again the effect of Feng Shui on our every day lives. Many view that these negative occurances were just plain coincidence or just random bad luck. But when we start putting Feng Shui in the equation, we begin to see patterns of events linking to the choice of homes and floor plans, placement of objects, use of colors, and other Feng Shui principles. Many don't see it because they simply don't relate that physical environment has anything to do with the effects of their lives, particularly when it's part of the environment where they can't see. But just because we can't see it, doesn't mean that energy doesn't exist. (Think infrared and ultraviolet light.)

Imagine this more extreme example and you'll know what I mean: You are forced to live in a place where it's dark, humid, moldy, and you hardly see the sun. How would you feel? I doubt very much any one would feel energetic, positive, ready to roar daily.

Now how would that feeling affect your mood, your choices, and ultimately your decisions on daily lives? A depressive scenario? Exactly.

Another example: you live in a home where everything is made of metal. How would you feel? Or every room is painted black. How would you feel? Yes, you'll feel cold in a place where it's all metal; depressed, isolated and lonely where everywhere is black. These are extreme examples to show you how materials and colors have effect on our live.

Now, coming back to Portland. Many homes were constructed with Feng Shui challenges built-in. Not a good thing, no. For instance, think of the number of homes you've visited that have a staircase aiming right at the front door. Energy escape out of the door too quickly with that layout. If left unchecked, this can cause difficulty in career, money or even health, depending on the exact location of the staircase and the configuration of the stairs.

Another challenge in Portland real estate is when a house is built on a sloped lot. Portland, being a mountainous place, can hardly avoid homes built on a mountain. Again, this presents more Feng Shui challenges. Depending on the degree of the slope, and whether it's sloping from left to right or right to left of the house, it could cause anything from money problem to broken relationships. Sloped lot at the back of the house is too "yin" (in Chinese Feng Shui terms) can cause health problems particularly for children and elderly occupants.

Fortunately, almost every Feng Shui flaw has a fix though there are a few that cannot be remedied. The most severe one is if you see a sharp, or tall and narrow object (like a light pole) aiming directly at your front door. That causes "killing chi" targeting at the main bread-winner of the family. There are few full remedies for those situations.For more information on Portland Real Estate and Feng Shui, call (503) 805-5173.Web: http://www.maxwellsinclair.com/