Keep Portland’s Older Homes

I hosted a strategy meeting at People’s Co-op, SE 21st and Tibbetts in June 2014. We brainstormed solutions and strategies and d how we want the process of housing demolitions to change to protect neighborhood livability,

housing affordability, solar access and more. And don’t forget the environmental impacts of housing demolition. Too many good older homes are being destroyed in our inner city neighborhoods.

Here are some important links for information on this issue:

Demolition Delay and Notification Information

Architectural Heritage Center Blog with overview and proposed strategies

SE Uplift Demolition resources page, including video and very good info from the June 11 conference at Concordia

Mortgage Rates Drive Purchasing Power

Offering a special glimpse into the financial realm, M Realty’s preferred lending partner, Guild Mortgage’s Brent Lucas provided this illuminating chart and information showing the impact of mortgage rates on actual buying power.


Mortgage Rates Drive Home Affordability and Buying Power
“How much home can I afford?” It’s among the most common questions asked by a home buyer and the starting point for nearly every home search in the country.

Changing mortgage rates do more to influence home affordability than changing home prices.

If that seems strange to you, think back to the last two years. Quarter-after-quarter, home affordability stuck near all-time highs even as home values have recovered from “the bottom.” Home affordability didn’t improve because home prices were lower — it improved because mortgage rates were at their lowest.

Each time rates ticked lower, a buyer’s purchasing power increased. When mortgage rates reached their lowest in November of 2012 (3.35%), affordability had peaked.

Lately, however, the trend has reversed. Mortgage rates have pushed past 4 percent and the answer to “how much home can I afford” has changed as well.

Take, for example, the hypothetical home buyer in Portland who was pre-approved in May 2013 for a maximum $475,000 loan amount, assuming 20 percent down. While she’s been shopping, U.S. Mortgage rates have been on the rise. Unfortunately, with each 0.125 percentage point increase to rate, her maximum purchase price has dropped $7,200. Today, that same buyer can afford a home for $424,326.

Do You Know Your Buying Power Now?
Mortgage rates have had some ups and downs over the past few months. Today’s home buyers — pre-approved or not — should consider a re-pre-approval; a re-verification of terms and a re-qualification for a mortgage.

Interest rates and purchasing power affect home prices, too. Lower rates allow buyers to offer higher prices for homes. When affordability drops because rates rise, the number of buyers who can afford higher prices drops too, which of course reduces demand. When demand drops, there is less competition for homes. It is competition for homes that is driving prices up in the current market. In the past, when the competition for homes decreases, prices have “softened”, meaning the steep increases slowed, flattened, or even dropped some.


Ask me if you’d like to be professionally connected to helpful financial tools like Brent’s. You can interact with his mortgage calculator at  LucasLendingGroup.com. 

Westmoreland — 1306 SE Yukon, right on the Bluff

$408,500 — 2 Bedrooms, 1 Bath — 1694 SF

On the bluff in Westmoreland! Fabulous rare opportunity for gorgeous, sunny view of Oaks Bottom Wildlife Sanctuary & river (river mostly in winter). 2 blocks to cafes. Watch abundant birds & wildlife from living & dining of 1915 cottage. Update & make it your own! Hardwoods in entry and maybe under carpet. One level + unfin basement. Sunny yard & decks. Estate. As-is price.

Listed by:  Laurie Sonnenfeld @ M Realty LLC

SOLD — 135 Days on Market

Hidden Gems of Sauvie Island

Hidden Gems of Sauvie Island

As spring peeks its head out from the blanket of winter, Portlanders will undoubtedly be looking to embrace the out-of-doors at Sauvie Island. Already famous (notorious, even) for its various beaches, there are some lesser known gems definitely worth exploring on our Columbia River island. Did you know Sauvie Island is one of the biggest river islands in the country? A friendly word of caution: always make sure you know where you’re planning on parking and that you’ve paid for the privilege. Parking enforcement is ever vigilant. Passes can be purchased in the country store, just after you cross the bridge onto the island.


Douglas Farm – This fantastic farm has operated on the island since the 1940s and you can drive by one of the original work trucks on your way in. Touted by locals as the best place to pick peaches, this u-pick farm offers access to fresh produce, free-range eggs and 100% natural local honey. Stop in for some delicious goodness!
15330 NW Sauvie Island Rd. Portland, OR 97231
503.621.3177

Cistus Nursery – Gardening enthusiasts will especially love this nursery, but the amazing variety of flora can serve as an impromptu nature stroll. Their experts are available for consultations that could transform even the smallest balcony into a thriving sanctuary. Take something green home with you or gather ideas and then take advantage of their convenient mail order shipping.
22711 NW Gillihan Rd. Portland, OR 97231
503.621.2233

Sauvie Island Wildlife Area – If you’re looking for a serene stroll through protected land, the Sauvie Island Wildlife Area is an ideal destination. Courteous picnickers are invited to dine amidst the diverse wildlife population. Spring is the perfect time to catch songbirds at play in the boughs, while various waterfowl (including sandhill cranes) are still active. Lucky guests may even spot a majestic bald eagle. Those seeking a more active outdoor adventure will be happy to find fishing, hiking, trapshooting, canoeing and even dog training all available here.
18330 NW Sauvie Island Rd. Portland, OR 97231
503.621.3488

Hidden Gems – Wineries


You should not have to trek out to wine country to enjoy the tasting rooms of local wineries when we have fantastic offerings downtown. That being said, you should definitely trek out to wine country to enjoy those exquisite destinations as well. When planning your next evening festivities or weekend escape, consider the following hidden gems!

 


 

Southeast Wine Collective – Urban Winery

Currently featuring eight different wineries under one roof, this collective offers a diverse array of special events and movie nights. Check out their schedule and find an activity that strikes your fancy or just stop by their beautiful tasting room, crafted from wine barrels, for a taste of something wonderful.

(503)208.2061
2425 SE 35th Pl
Portland, OR 97214
www.sewinecollective.com

 


Clay Pigeon Winery – Urban Winery

Equipped with their own on-site restaurant, Cyril’s, this urban winery is open for lunch. They also offer classes and are available for private events.

(503)206.8117
815 SE Oak St
Portland, OR 97214
winery – www.claypigeonwinery.com
restaurant – www.cyrilspdx.com

 


White Rose Estate – Wine Country

Praised by wine experts for their outstanding product, it is unique in its high-percentage whole-cluster fermentation, granting it the most intense and beautiful aromatics. Find out for yourself at their tasting room that is open seven days a week.

(503)864.2328
6250 NE Hilltop Lane
Dayton, OR 97114
www.whiteroseestate.com

 


Domaine Trouvere – Wine Country

An offshoot of Lange winery, they are located in the same building as Red Hills Market, the ideal lunch destination for anyone day-tripping to wine country.

(503)487.6370
155 SW 7th St
Dundee, OR 97115
www.domainetrouvere.com

River Rd — 986 SE River Forest Rd

$345,000 — 3 Bedrooms, 2 Baths — 1066 SF

Hidden gem in River Forest paradise. Mid-century-modern! Serene view of River Forest Lake across the road. Easy 1-level living. Stunning hardwoods, vaulted ceiling, skylights, 2 baths. Updated kitchen w eco-friendly paperstone counters. Lovely yard w trees & sun. Established natural gardens, 3-room deck & fire pit. Wonderful community near Trolley Trail bikeway, Oak Grove village cafes, and new MAX.

Listed by: Laurie Sonnenfeld @ M Realty LLC

SOLD — 5 Days on Market

The River Forest neighborhood is a peaceful natural watershed paradise. Residents make up a lively and interactive community including a fine assortment of artists and musicians. Look forward to the series of neighborhood art shows, a 4th of July parade and the Valentine’s Day stroll. Several homes have been awarded certification for sustainable landscaping or backyard wildlife habitat.

River Forest Lake and the Willamette River are in close proximity, while a variety of shops and cafes in Oak Grove Village provide a place to bump into your neighbors while having coffee, lunch, or browsing for treasures. The nearby Trolley Trail bikeway and the upcoming 2015 MAX Light Rail stop offer a variety of commuter options. The Trolley Trail bikeway is a 6 mile trail from downtown Milwaukie to Gladstone. Its north end is close to the Springwater Corridor, a convenient way to bike downtown.

At night the quiet stillness underscores the occasional sounds of wildlife. The level of darkness makes the stars pop out, encouraging sky watching and peaceful sleep.  You’ll feel like you are miles outside of civilization, even though you are only a short drive from downtown Portland.

The Residence: This 1965 mid-century modern home is nestled in the River Forest neighborhood of Oak Grove. An enticing view of River Forest Lake across the road can be enjoyed from the dining room and the cozy front porch. The lovely south-facing backyard features an established natural garden, a tool shed with water and electric, and a three-room deck and firepit–a serene retreat excellent for relaxing and entertaining.

Enter the threshold into the bright and airy living room. Stunning hardwoods are illuminated by skylights and a sliding glass door to a secret courtyard retreat, open only to you, the sun and the sky.

High, vaulted ceilings open up the space and carry into the dining area. The beautifully updated kitchen boasts eco-friendly paperstone counters, stainless steel appliances, a sizable pantry and a counter depth fridge. A master suite with bath, along with second and third bedrooms and bath are tucked away down the hall for privacy.