Archive for February, 2008

A Different Way of “Framing” our “Housing Correction”!

Published by Janeese Jackson on February 26, 2008 in Close-In Eastside 'hoods, Downtown, Lake Oswego & nearby 'burbs, Northwest Alphabet District and Pearl District. 0 Comments

Recent Time Magazine Article on the Real Estate & Stock Markets

If you subscribe to “the sky is falling”, you have plenty of media back-up.  If you subscribe to “every obstacle presents an opportunity”, then you might see this present real estate market as the correction that was so badly needed and a circumstance that could create investment possibilities.  I’m attaching a recent Time Magazine article that might inspire you and a “Good Thought for the Day”:

Your Thinking and Your Life

“Now that I am out of the struggle there is nothing to think about except the success.”

One of my clients just said this to me.  He fought his way out of debt by first fighting his negative thinking.  He has learned that his negative thoughts were simply choices.  He could choose to think and believe those things or replace them with more positive and empowering thoughts.

He learned to recognize negative thougths; quickly set them aside and replace them with the positive ones.

Now, three years later he is debt free.  He is making great decisions about savings, buying new items and investing in his business.  he is happy, healthy and confident that he is creating financial security for himself.

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What’s Going on in the Pearl???

Published by Janeese Jackson on February 23, 2008 in Downtown and Pearl District. 0 Comments

A lot of construction is still underway (and recently completed) both downtown and in the Pearl.  The large cranes still dot the skyline in anticipation of continued growth for Portland. 

DSCN3553.JPGHere you see cranes poised over “The Lovejoy” project at NW 13th & Lovejoy.  The building will house both commercial space and 231 apartments with a total of 15 floors.  Expected date of completion is Fall of 2008.

Right next door at NW 14th & Lovejoy is the new Safeway Grocery Store and parking garage.  Expected completion is Fall of 2008.  That will offer a much needed service in the northern Pearl blocks (hopefully some good competition for Whole Foods!).DSCN3556.JPG

The Wyatt is a 15-story building with a total of 245 units, located at NW 13th & Marshall.  Initially conceived as a condo project, it has been sold by the developer and will be rented as apartments.  The rents begin at $1261 for studios, one bedrooms start at $1911 and 2 bedrooms will be $2650 and up.  There are townhomes & penthouses as well. DSCN3547.JPGThe prices do not include upfront deposts, move-in fees, parking & storage. 

The new construction of the Encore building in the Pearl continues to define the northern portion of the Hoyt Yards area of the Pearl with a completion date of November 2008.  You can see it & the inevitable crane peeking over the existing Pinnacle building.  However, I believe that this very modern “half-moon” shaped architecture will be quite dramatic.  There will be a total of 177 units and 15 floors and will offer views of the Willametter River and Fremont Bridge plus the western vista will overlook a new 3-acrepark….very nice!                                                                                         DSCN3559.JPG

DSCN3560.JPG More new construction in the 937 Building (you see the new construction & crane off in the distance behind the Burlingame apartments), located at the corner of 9th and Glisan!  There will be 16 floors and 114 homes with a projected LEED Gold rating.

HS1_1891621_20080223170808.jpgThe Metropolitan is complete and move-ins are in progress.  There are a total of 136 units, which include residential & live/work.  The tower offers 19 floors, the NW corner block has 7 floors and the live work section has 3 floors.  This is a fabulous building with a beautiful 2-story lobby (24-hr concierge), fitness room, conference room, outdoor entertaining space and guest suites.  Silver Leed rating.

The Casey at NW 12th & Everett offers 61 units and is now complete DSCN3565_2.JPGand move-ins are in progress!  The Umbria Coffee Shop is at street level and yummmm!

DSCN3569.JPGRenovation continues for Block 90 at 13th & NW Flanders with 11 condos + commercial spaces with a move-in date of May 2008.

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How Does Portland Compare????

Published by Janeese Jackson on February 7, 2008 in Close-In Eastside 'hoods, Downtown, Lake Oswego & nearby 'burbs, Northwest Alphabet District and Pearl District. 0 Comments

Portland Housing Market Performance portland_overview_intro.jpg

Portland continues to enjoy good press and a great reputation as a city that offers an excellent quality of life & a variety of opportunities. We boast postcard vistas of Mt Hood as we drive around our fair city, we drive only short distances to touch the ocean, taste the snow or enjoy urban fare. We sport world-class restaurants, one of the largest inner-city parks in the 48 contiguous states, a bustling downtown, a growing fashion scene, a green reputation and so much more. We are constantly mentioned in the New York Times, Money Magazine, Men’s Health & other rags for our many attributes. It’s no wonder we have fared so well in the recent housing “market adjustment” and the national sub-prime mortgage debaucle.

Forest_Park.jpg

As the stats in the attached PDF file attest (from the Population Research Center at Portland State University), we have much to look forward to in growth & future prosperity! Portland is one of the top three cities in the nation for home appreciation. Portland has less than half as many subprime mortgages as the national average. The estimated population of Multnomah, Clackamas & Washington counties in 2025 is 1,997,623 and Portland itself should have a population of 778,000. The Portland real estate market is definitely adjusting. But, this correction is part of the housing market cycle. Market corrections are absolutely necessary and keep prices at a level that people can afford!! Real estate is still a heathly and necessary component of building true wealth!

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