The North Portland area around N. Williams and Fremont has seen a lot of change over recent years. With the addition of many new shops, restaurants and bars; the area rivals its neighbor N. Mississippi. So it’s not a surprise to me to see that there are now plans for a 30,000 square foot, $8 million New Seasons Market. Do you think that is what the area needs….a New Seasons Market?
New Seasons Market is in the works for N. Williams
January 27th, 2012 
admin Obama’s State of the Union and What it means for Real Estate
January 26th, 2012 admin 
Everyone has been talking about the State of Union delivered on Tuesday by President Obama. It’s hard not to. It doesn’t even seem to matter if you are a democrat or republican or libertarian or none of the above. And maybe it’s just me but it seems like people are paying more attention to politics these days. And I wanted to use this post to talk about the State of the Union address and what it means for the real estate industry.
Portland Events and Festivals!
January 26th, 2012 admin 
It is hard to not let the weather get you down. I definitely begin to get a little edgy this time of year when the color outside is 90% gray. Especially when I’m feeling like I need to get out of the house and do something fun! And even though it’s gross outside, there are still some Portland area activities going on and coming up. So check it out!
Put Some Color on Those Walls & Listen to Warren Buffet (yes I’m serious)
January 23rd, 2012 admin 
Add some color to those bare walls to sell that Portland Home! (click to enlarge)
Color on the walls plus cozy furniture equals selling your Portland home faster! (click to enlarge)
Warren Buffet does tend to know a thing or two about real estate. And Warren believes (I can call him Warren) that employment will rise when real estate does. You think he’s right? It’s not just Warren that believes that, but many other economists do as well and for good reason. History has proven time and time again that the economy will rebound and employment will rise when the housing market recovers.
So what does all that have to do with putting some color on those walls? Well, if you believe Warrent Buffet and are making plans to sell your Portland home in 2012 and you look around the house and see all white or off white walls…please paint them before putting the home on the market. It’s one of those easy, low cost things you can do to make a home look a hundred times better. And I don’t want to hear, “but the buyer will just want to change them to their liking anyways! So what’s the point?” The point is getting the home sold. And a buyer will immediately feel more at home when they walk into a house with color on the walls than stark white cold walls.
Do you have a difficult time picking colors and knowing what would look best? Let me know and I’m happy to help and make suggestions. Above are a few photos from a home stager in Washington D.C. of rooms with color before staging and the rooms after staging.
by Betsy Ballantyne
betsy@betsyballantyne.com
Sewer Monsters and the Importance of Sewer Scopes!
January 20th, 2012 admin
Unless you already own a home you probably don’t often think about the sewer lines that carry the “waste” from where you live to the sewer lines in the street. Any time you buy a house you need to have those lines inspected. It’s not required but strongly recommended. Sometimes the repair is minor or sometimes you find out that the whole line needs to be completely replaced with a new one! Wouldn’t you want to know about that $10k issue before moving in? And wouldn’t you prefer the seller pay for that? I would. Even new homes can have sewer issues, so it’s always better to be safe then sorry.
Who knows, you may get lucky and see your very own sewer monster! Ok, so maybe there won’t be a sewer monster but you will likely at least see a rat. 😉
by Betsy Ballantyne
betsy@betsyballantyne.com
I5 Traffic Mess in North and NE Portland is the Subject of Upcoming Open House
January 19th, 2012 admin 
I-5 south going past Rose Quarter, an unusually calm picture of the normally bottlenecked area!
Well good news. An open house for draft plans is scheduled for 4:30 to 6:30 p.m. Thursday, Feb. 2 at Lloyd Center Mall, N.E. Ninth Avenue and Multnomah Street, near Nordstrom’s, will include proposed improvement to the Broadway/ Weidler freeway exchange, directions for land use, street design, new parks and safety improvements.
The N/NE Quadrant Project Open House is a chance for the public to weigh in on the proposals, planners said. Call 503-823-6042 for more info. So if you live in Portland and you drive that part of the freeway, go to this meeting. Let your voice be heard and maybe I will see you there!
by Betsy Ballantyne
betsy@betsyballantyne.com
Whether you Rent or Own, Take a Home Inventory!
January 18th, 2012 admin 
If you are renting in Portland and don’t have renters insurance, get it. A lot of renters believe (I was one of these) that what they own is for the most part not too valuable except maybe one or two items, so they don’t need to worry about it. But I bet if you go through and make a list of what you own and what you paid, you will find that if forced to replace most of these items all at once, that it is more than you could afford out-of-pocket.
Now when you own a home in Portland you are required to keep insurance on your home. But what many fail to do (again, myself included) is to update your insurance agent regarding new items. So Would you be able to remember all the possessions you’ve accumulated over the years if they were destroyed by a fire? Having an up-to-date home inventory will help you get your insurance claim settled faster, verify losses for your income tax return and help you purchase the correct amount of insurance.
Portland Home Sales up in 2011!
January 17th, 2012 admin 
The Portland Home Sales numbers are in and there were 19,682 Portland-area homes sold in 2011. That is a 4 percent increase compared with 2010, according to the Regional Multiple Listing Service. But the median price for the year fell 7.9 percent, to $221,000.
The weight from distressed home sales continue to impact our Portland market. Of the homes sold in 2011, 22 percent were bank-owned. Those had an average sale price of $170,000, a 36 percent less compared with market-rate properties. Another 11 percent sold as short sales at a 17 percent discount.
However, year over year declines got smaller in 2011 which is a sign of prices stabilizing. Analysts forecast that in 2012 the prices will increase by 1.9%. That’s great news for Portland sellers but no so great for Portland buyers.
Market Action Report Portland December 2011
by Betsy Ballantyne
betsy@betsyballantyne.com
Portland Snow is in the Forecast!
January 14th, 2012 admin
As we are on the heels of another MASSIVE SNOW EVENT in Portland, I’m reminded of some decent snow we got a few years ago. We don’t see a lot of snow in Portland. It seems to me like every 5 years we get a good amount. For me personally it’s not enough and I would like to see more snow similar to Snowmageddon 2008. So according to local Portland news, we may possibly see some, a little, a trace, a few inches, a flurry or none in the next 24 hours! Woo Hoo!
by Betsy Ballantyne
betsy@betsyballantyne.com
Interest Rates Hit New Historic Lows….Again!
January 13th, 2012 admin 
It was just about a month ago when Mortgage interest rates hit their lowest percentages ever. And now it’s happening again! Mortgage rates for mortgages fell this week, with the current average rate borrowers were quoted at 3.71 percent, down from 3.73 percent at this same time last week. And in Portland it’s even better! The average rate in Oregon is holding at 3.69%.
“So far 2012 has brought us lower mortgage rates than most ever thought were possible, and we’re likely going to remain close to these record low levels for the near-term,” said Director of Zillow Mortgage Marketplace. “Look for rates to stay in this historically low range and possibly drop further if new concerns emerge around the European debt crisis.”
Additionally, the 15-year fixed mortgage rate this morning was 3.03 percent and for 5/1 ARMs, the rate was 2.59 percent. So if you need to refinance that loan, do it! But better yet if you are thinking of buying a home in the Portland area, give me a call!
by Betsy Ballantyne
betsy@betsyballantyne.com
