Street of Eames Goes to Work

Any time I visit a different part of the city, or enter a building I haven't been in, I feel more akin to our great city. Here's a tour for those interested in the hottest design and architectural offices in Portland. The evening of October 29th, tour the much vaunted new Mercy Corp building, the bSide6 Building, and internationally known firm Ziba Design, among others. 

All proceeds to go to the Center for Architecture and the Street of Eames Fund, which pays for after school programs for homeless elementary school students.

So- view some amazing Portland architecture, give to a good cause and feel even more at home in this city we call home. Purchase your tickets here.

Energy Trust Tax Credits

Summer flew by, and now as I face the winter heating bills I recall I had every intention of winterizing my home this year. According to the Department of Energy,only 20% of homes built before 1980 have appropriate insulation levels.  The Energy IQ classes I've taken over the last year through Energy Trust have really cemented the importance of sealing leaks first, and then properly insulating the attic of my home. It's not too late, so I'll follow up in another post the measures taken- and how much is cost.

There are a myriad of projects that Energy Trust can help you with. The first step is a free energy review. As an Energy Trust Trade Ally, I would be happy to schedule that for you, so give me a call or email. As I'm sure you know, there are many projects that Energy Trust offers incentives for, such as tax credits. A portion of your energy bill every month goes towards incentive funding. Here's how to get some of that money back.  Check out the list here.

Market Action September 2009

I've heard it said recently that the real estate market now is a price war combined with a beauty contest. So true- fewer buyers with very high expectations. The market is tough, but fascinating. It is a great time to buy- prices are down and record low fixed interest rates available to buyers. Still, the major activity seems to be at the lower price points. North Portland continues to have the lowest DOM (days on market) at 89 with an average sales price of $236,900. On the opposite end, Lake Oswego is at 204 DOM with an average sale price of $495,800. The message seems to be that the first time home buyers are driving the 34% jump in pending sales from last September. Septembers' inventory is at 7.6 (the number of months it would take to sell all current inventory at the current rate of sales) and is very close to the six months inventory considered an even draw between a buyers and sellers market- yet, in terms of negotiating today buyers still are in great demand and seem to have the edge. While there are buyers in the higher price ranges, they are fewer and discerning. Note to my future Sellers- don't despair- prepare, price properly and you will be in the best position to be the home that sells. There are multiple offers on homes- even in this market, on which buyers perceive hold a good value.  Read the full Market Action Report.

What's a Quartile? To follow my earlier point regarding DOM at different price points, the chart below shows the full spectrum of price ranges divided into four groups, or quartiles, from the very top of the range to the very lowest.

Your Guides to Green

 

Many of us have good intentions when it comes to doing our part in keeping ourselves and our planet healthy- we recycle, buy local, and eat more seasonally. Our habits have changed for the good over the years. But don't you just find the amount of information out there on how to green up boggling sometimes? And how do you actually implement those changes in your own home? Well, fear not- help, or guidance that is- is available to you. 

I met with Lisa Ard and Laura Baldshun recently to discuss their business, Eco-Guides, which they've owned  for over a year now. Their program is simple- they make three house calls, and during each house call address a different area of green concern: waste reduction, energy efficiency and home health/toxin reduction. As a bonus, many of their suggestions can save homeowners a substantial amount of money. They are warm, and knowlegeable and bring that Portland ability  of balancing concern for the environment with the understanding that their clients all come from different levels of green-ness. During and after their guide sessions, you can refer to their eco-guidebook, full of local resources and their recommendations- finally all that information in one place where you can find it when you need it.

Staycation

We really didn't think we were planning one, our only intention was to entertain our much anticipated guests, J's sister and her partner K from the Bay Area. So instead of our usual one or two outings on the weekend fit around adult chores, it was one giant field trip to some of our favorite places in Portland including our kitchen. The trainer was not going to see us this weekend. Starting off at Park Kitchen, we were treated to a masterful meal. Their plates are well conceived and deliver, even when some ingredients seem a bit disparate, they bring it home. Several small plates were shared before our entrees between the four of us, showing off the range of the kitchen's aptitude.  The whole staff seems to wait on you, from the bartender to the waiters floating about the rooms delivering and whisking away plates, filling glasses and all with a completely professional- yet hip, vibe. Regretably, I did not eat the last of the sauce on the calamari plate and forgot my camera at home.

A quick breakfast in, and then a trip to Vino in Sellwood. Owner Bruce Bauer's wicked amusing blog is much enjoyed by our California family so Vino has become a Mecca-like trip for visiting kin. Bottles were purchased and we enjoyed sipping Saturday's free tasting while admiring good label design.

Though tempted by the arancini at Garden State and the nearby taco cart, we headed off to lunch in Hawthorne at Evoe. Guided by chef Kevin Gibson, we took the liberty of ordering for our table and the leisurely feast began- starting off with a lively dish of pickled fresh sardines with lightly braised celery and marcona almonds, then sashaying through courses of crunchy pork belly, delicately cooked octopus and a sausage sandwich called the Navarre, with the bread and sausage surprisingly (and deceptively?) light. Wow.

Fresh Pot next door fortified us for a few hours at Powells, where I found my latest vintage cookbook for my collection, "Experiences With Food," a 1956 home economics text book which despite it's hilarious pictures is really pretty common sense. One of the captions reads that "sodas and sundaes are delicious between meal snacks, but they are to be let alone by overweight persons of all ages, and they are also to be denied if they destroy the appetite for the next wholesome meal." Denied!

 After buying more than intended at Powells, we went to Uwajimaya, my first choice on the west side for buying fresh seafood. Since finding a couple of nice bottles of Patricia Green pinot noir at Vino, we decided to make one of "my" dishes: crispy seared salmon on a bed of black rice with mango chutney which I enjoy just as much for the color as the flavor.

My guests seemed a bit dubious about oatmeal for breakfast, but K had chosen some beautiful figs at PastaWorks next to Evoe, and I poached these in a simple syrup until they were just warned through as well as some cinnamon apples for any possible fig haters. I ladled these over creamy oatmeal, toasted some walnuts for depth and texture, and as a fool proof measure poured on a little half and half. No one complained about the oatmeal.

We did have to watch a movie afterwards....before starting dinner.

A few friends came over to meet our guests of honor, and keeping the menu simple we sauteed some lovely in season (and reasonably priced) chanterelles and served them with toast. J made his famous "chicken under a brick" which delivers a caramelized exterior and moist interior- we served it with a hearty bread salad and plenty of wine.

On Monday I took a long nap and contemplated getting back into shape- for the next staycation.

East Coast Drywall Alert

 

Another good reason to buy Earth Advantage when buying a new home, the NY Times has just reported that drywall imported from China has made homes toxic in three states- Florida, Virginia and Louisiana.

Earth Advantage homes are certified throughout the building process to use sustainable and non-toxic products when installing a home's cabinetry, carpet and paints and take care to incorporate healthful ventilation systems. Earth Advantage homes are also save 15% more energy than code currently regulates.

Imports of Chinese drywall have been halted for now, but if one is starting a home project it would be wise to check the origin of your material. Read the NY TImes Article.

Vinyl Love

I still have my original Peter Frampton Comes Alive album- so does my husband. We also share the same memories of staring at the Led Zeppelin Houses of the Holy album cover for the entirety of it's play. How quaint in this multi tasking world to remember there was a time when one would actually just listen to an album while trying to absorb some inscrutable message or contemplate a singers hair part. So it was a perfect project for J and I to take a few hours to pull together some great album covers from our collection. Our mission was to choose from our hundreds of albums, those that had interesting graphics and colors that would work together as a whole- a kind of art installation. We had purchased the album frames some time ago, and the Labor Day weekend seemed perfect for a house project that did not involve anything unpleasant. 

Perhaps we'll choose a different theme next time, we have everything from late classics to early punk. Our end project has bright squares of color, contrasting with black and white images that form a 70" by 40" block. We love it!

White Roofs

If the whole world used lighter roofing material it would save the equivalent energy of "turning off the world for a year." That's what  our Energy Secretary and Nobel laureate, Steven Chu asserted in a recent NY Times article. Hmmm, is that why the house in my neighborhood painted white their exterior brick work, then their siding, and continued up onto the composite shingles? Apparently there are modern materials to provide a more aesthetically pleasing equivalent to paint and Wal-Mart, a surprising frontrunner in adoption of green practices, has installed the white roofing on 75% of their outlets. I feel a teensy more forgiving towards my neighbors choice.  Read the NY Times article.

Winner of the Emily Jane Drawing

Just like the easy bake oven I longed for as a child, the anticipation of something can be almost as fun as the real thing. Actually, sometimes better. When I finally actually used an Easy Bake Oven- the one I had bought my daughter (wink, wink)- the gooey super sweet products were pretty half baked, and nothing close  to the promised delicacies shown on the commercials. But then, what can you expect from a cake that's been baked with an extremely hot light bulb? It's been a good lesson for me and the value of dreams.

For those of you who shared in the anticipation with me, thanks so much for all your fun and thoughtful comments. The winner of the drawing for the $50 gift certificate goes to a certain someone with the intials W.C. Congratulations, and enjoy your trip to Emily Jane!

I look forward to posting my final decision on my jewelry selection. I'm so glad I never got that Easy Bake when I was little, but I'm looking forward to fulfilling my grown up dreams.

Aging in Place

"Aging in Place" is a term that is becoming more commonplace. From a real estate standpoint, this usually means a one level home, or one that has a master on the main and a relatively level entry. Clients are often looking ahead for these basic features in order to stay in their homes as long as possible. New construction often takes this further, and elevators are becoming more prevalent so the entire house can be accessed, no matter the state of the owners knees and hips. Read this NY Times article to see where this trend is heading.

An Act of Protest

Business often takes my up on Skyline, a beautiful drive once I pass Cornell and can enjoy the valley views and notice how the trees are changing with the seasons. I always notice the little fruit stand on the corner of Skyline and Cornell across from Skyline Restaurant, but I'm often feeling too rushed to stop. Determined this summer to eat my share of all the wonderful fruit and berries available, at last I applied the brakes here to check out the offerings. Always one to look for amusement during my day, I had to remark to the owners of the stand, Tim and Jerry, on their bold ensembles. They explained that, tired of seeing potential customers pass by, chatting on their cellphones or off in another world- they decided that by god they weren't going to take being invisible anymore without a fight. Hence, some of the best food stand clothes you'll see anywhere in Portland. And how can you miss them now? Stop by and check out the fruit, flowers and honey- all seasonal and local.

Emily Jane Part 2

 

Stage two in my jewelry transformation in which I have raided the dusty recesses of my jewelry box and brought two necklaces to Emily Jane to have her way with. I have pretty much convinced myself that despite the cost of choosing two of these designs, that my Realtor skills will improve and therefore others besides myself will benefit. I am also shopping locally, re-using, and supporting the economy.

Now that I'm there, the six lovingly drawn sketches of possible designs to be have arrived, and I would welcome your choice of what your favorite is among these. A little imaginary shopping trip. Look at the designs, choose your favorite, and be automatically entered to win a $50 gift certificate for your own piece at the famous Emily Jane studio on NE Broadway at 15th Avenue. Simply reply to this blog post, leaving your comment and indicate your choice by the design number. View the sketches.

A Dubious Green Product?

For years, most of us have gotten used to strong smells in the house- and I'm not talking about your brother's socks. From the seemingly innocuoust Pine Sol aroma that hovered in the air for hours, to the smell of fresh paint, or newly finished floors and new carpet, we didn't have the perception of these as being potentially dangerous chemicals "off gassing" into the air we breathed every day. Interior quality is just as important as smog when you think of how many hours we spend inside.

I never would have realized as a Realtor and a homeowner  how fascinated I could become with insulation, R values, vapor barriers,or tankless water heaters and heat pumps. My "Energy IQ" classes had me going around checking my home appliances with a Kill-O-Watt.

A recent OregonLive article wonders if green broker certification is meaningful. While I have also seen my share of dubious green products, such a semi-disposable bamboo plate, my green designation does offer both my buyer and seller clients an entry into the world of green real estate, heightening my ability to point out the plusses and minuses of new construction or how to re-use an existing property, and bring it up to speed with better insulation.  Read OregonLive article and my comment.

Market Action: June 2009

No one in real estate will tell you it's an easy time in our industry right now, but there's no arguing with some positive trends showing in the Portland market when you look at the numbers. Inventory is one of the most important gauges, as the law of supply and demand has not overlooked the real estate market. June 2009 has us at 8.2 months, down for the fifth straight month from January's 19.2 months of inventory.

We're not seeing prices rise yet, in fact the average sales price is down from last year at this time by 14%. However, every month we get closer to the magical number of 6 months inventory where the balance is more equal between buyer's and sellers- will influence the price. Sales are up from last month 24.5% and listings are down- more depletion of the inventory may continue.

Looking at a few individual markets, SE Portland reigned last month in closed sales at 240, with an average of 113 DOM (Days on Market). Let's compare that to Hillsboro at 105 closed sales for May and 166 DOM. West Portland sales in general are down 13% from last year. This makes sense since the average price in W Portland is $421,200 compared to SE Portland at $261,300, with a large portion of the current sales with first time home buyers driving the market. 

Could there be a "trickle up affect?"  Complete Market Action June 2009.

Departure Restaurant & Lounge

I'm certain employees must past a stringent beauty test to work at the latest see and be seen lounge in downtown Portland, known as Departure. Is it Portland? Yes and no. It's Portland, because of our recent penchant for modern and mid-century architecture. And it was designed by local Jeff Kovel of Skylab Architecture. The wow reviews he got for the design of the Doug Fir Lounge, which he also co-owns, was apparently just a warm up. Arriving by special elevator from The Nines lobby, one exits on the new 15th floor into a Battlestar Galactica walkway. When your eyes are just getting used to the dim lighting, you enter into the spectacularly bright bar area abuzz with said beautiful servers, and Portlanders dressed beyond our usual standard. If you've been saving a chic outfit for an occasion, it will be appreciated here. Though they call Departure a restaurant, I would confine myself to an appetizer or two and have dinner elsewhere- the offerings are tasty but precious and expensive- decidedly not Portland.  Don't let that deter you. Get yourself up to that 15th floor, put yourself on the waiting list for the east deck with its sweeping views of the city and river and enjoy our beautiful city with beautiful people. We have one more reason to feel smug about living in Portland. See the "Galactica" entryway and more pics.

Emily Jane: Jewelry Transformation

I don't consider myself a huge jewelry wearer or a jewelry hound- in fact I find the whole process of selecting something valuable that I am supposed to like for the rest of my life quite intimidating. So I tend to wear the same pieces over and over, rarely looking into that dusty jewelry box reminding me of past mistakes. Since re-using and buying local is such good practice, I have turned to one of the few places I actually find enjoyable to shop for jewelry- Emily Jane, to refashion some 80's jewelry into something I would actually wear.

Emily Jane on NE Broadway doesn't put their wares, cold and aloof under a sheet of glass where one must ask to touch and only guess about prices. Instead, all the jewelry is arranged in large jewelry boxes placed around the room, inviting you to open all the little drawers like a treasure hunt and try things on as you please. A little hand lettered sign invited me to bring in dated jewelry to be turned into something wonderful here at the shop.

A flashback brings me to my years in Riyadh, Saudi Arabia. I had purchased a few pieces at the souk (market) and believing myself to be playing it safe, had chosen a single strand of pearls and a thick strand of freshwater pearls. Unworn twenty-some years later, and with my friend K along for emotional support, we brought the 1980's spoils into the shop for Jane MacLellen and her staff to work their magic on. Sitting at the counter, Jane took note of my personal style and asked lots of questions about my likes and dislikes, eventually bringing out different materials for possible use in the transformation and staging them next to the pearls in question. I had no worries about how the assortment of chains and baubles might look, but only what I found appealing. We discussed price ranges based on my choices, which materials would eventually be chosen, and the difficulty of execution. 

The next step? In two weeks I will get to look at several sketches of each piece and make my final choice. I can't wait to see- stay tuned. Pictures of dull 80's jewelry begging for shoulder pads and potential new materials.

Appraisal Issues Arise

A recent Ninja conversation.

I'm sure those of you who have taken advantage of some of the recent low interest rates to refinance have discovered that even a well qualified buyer has many hoops to jump through, not the least of which is having your home appraised. Many home owners are loath to pay for an appraisal unless they are sure there are comparable properties available to support the refinance. Fewer sales recently have made that challenging, and even when found appraisers in general are much more conservative with their values than in years past.

In my business, appraisals have been affected by the Home Valuation Code of Conduct, HVCC. adopted by Fannie Mae and Freddie Mac in May of this year. To assure that lenders could not have an undue effect of valuation of a property, lenders cannot directly select an appraiser or had any substantive conversation with them regarding the valuation. While in theory, one would applaud this measure, in reality those in the field have found 1) appraisals taking longer to come in, and  2) appraisers coming in from out of state and relying on internet information to make their appraisals.

I've found it all the more imperative to check with lenders before writing down a closing date on behalf of buyers who are writing a purchase agreement. I've also been alerting both buyer and sellers to the fact that a home priced over market value is much less likely "to appraise" and proper pricing is imperative unless one hopes to sell to a cash buyer (not so likely) that doesn't need a loan, or a buyer that has all cash doesn't care how they throw their money around (again, in a buyer's market not so likely).

Appraisals, and how they shape a transaction, is another important thread in the tapestry of real estate in today's market.

Souvenir: Who Care's What's Inside?

My husband went on a work related "field trip" to Seattle last week and left me to figure out how the sound system works on our home theatre system. You'd think I would know after living here for four years, but that's not the story. While in Seattle, J bought an anniversary gift for me from a small shop suitably called Souvenir on Ballard Street. The gift was wrapped in packaging several feet high and appeared to be encased in glass. It was so beautiful, I couldn't open it while in my bathrobe, and feeling like I had to dress up to open it, I waited until the evening. I've never done that in my life. And seriously, I really didn't care what was in it, it was a miracle just to look at it. Please go to Curtis Steiner's website, the owner of this remarkable shop. A true artist, he exhibits at the Seattle Art Museum, and a video of the installation called "Blocks" can be viewed from the website- an extraordinary kaleidescope of designs that can be made from 1000 identically patterned blocks, as well as a fascinating YouTube interview with the artist.

Now that I know how to work the sound system, I think these trips are a good idea. Don't you?

Real Estate Tip: Location, location.....

Apologies to those of you that feel Zillow is a great resource to determine real estate values, but it's hard for a website to determine that a particular property's neighbor has a three story baby blue house with yellow trim, or even a prison for that matter. You can update a kitchen or add a bath, but you cannot change your home's location, one of the biggest factors in not only determining what it's worth going in, but what it is worth when you sell it. Normally, there is a discount buying in that house next to the train station the next buyer will expect to have passed on to them when the time comes. Many clients think better of it, no matter how much extra square footage they're going to get. This New York Times article discusses this topic in the extreme.

May Market Update for Portland

Market Action May 2009 (Read full report) Imagine our housing market as a big supermarket. If you had walked into that supermarket in January shopping for a house with all the other buyers, at the rate of sales in January it would have taken 19 months to clear the shelves of all the inventory. You had an awful lot to choose from. May 2009 has us down to 10.2 months of inventory- less choice, but still slightly more than May 2008 where there were 9.2 months. This is good news. Less inventory is an indication that the market is stabilizing. The long held belief is the level field between buyers and sellers is at six months of inventory.

Looking at days on market (DOM) another important indicator we are currently at an average of 151 days. Last year we had an average of 79. Keep in mind that average is a range so while NW Washington County suffers with 190 DOM, NE Portland is at 96. Keep in mind that the longer DOM is an indication of several market forces: there are many short sales on the market, and those take months to conclude. There are quite a few properties that would sell if priced correctly when first listed. These homes often have sellers that are hopeful that market forces do not apply to their particular home. These homes sell after several price reductions. Then of course, there are fewer buyers in the market. They do not heed William Buffets advice of "Be fearful when others are greedy, and greedy when others are fearful." It may not be the bottom in our housing market but it's pretty darn close. We are still a ways from the market ascending.

Sales at my Windermere office were the best of the year, and a recent report shows Windermere leading the sales in Multnomah Country. Top Brokers Report.Top Brokers Report