You’ve probably heard “months inventory” or some variant bandied about in conversations about residential real estate. What does it mean? Months inventory is the number of months it would take to sell every home on the market at a given month’s rate of sales. RMLS calculates the metric by dividing the number of active listings on the last day of each month by the number of closed sales that month. The lower the number, the more the market favors sellers and increasing prices. The higher the number, the opposite. Conventional wisdom is that six months inventory is a balanced market; we think a ..read more

If you’re going to be a vegan or a vegetarian, do it in Portland. Seriously. We have a long-standing reputation as being a haven for those among us who aren’t carnivores. You should never eat bad plant-based food in this city. The restaurants on this list are just plain tasty, whether you’re a meat eater or not. So, get out there and enjoy some of the delicious and creative food on this list, all right? Plus, these places are all open for business (at a minimum for takeout, though many of them are open for dining in, as well). Ichiza Kitchen Ichiza Kitchen, an intimate little bistro in Goose ..read more

It’s summer, the kids are out of school, and we’re still in the middle of a pandemic. Luckily, we live in a pretty amazing place, and there are still plenty of free things we can get out and do in our city.  These are all things that are currently open to the public. Hoyt Arboretum Hoyt Arboretum is often called Portland’s museum of living trees, and you’ll see why when you visit! It was founded in 1928 to help conserve endangered tree species, and it is 190 ridge-top acres with 12 miles of hiking trails.  Enjoy the 2,000 species of trees and shrubs in the arboretum—they come from s ..read more

Foxridge Farm  Foxridge Farm is farmhouse meets luxury equestrian estate. If you’re not sure if you want to be in the city or in the country, this is the home for you. You’ll get the best of both worlds at Foxridge. The main home is nearly 7,000 square feet and is full of natural light, which is perfect for taking in the beautiful property that surrounds the farmhouse. In fact, this 25-acre property has stunning panoramic views of the Cascades, Valley and Coast Ranges, and more. You’ll never get tired of being outside. Even better, it has an 18-horse equestrian facility and a second resid ..read more

We often think of giving around the holidays, but there are many very deserving Portland charities that desperately need help all year round. Many organizations are in especially great need of financial help right now due to the COVID-19 pandemic and are seeing a huge increase in need. Many of these organizations will likely need substantial support for months to come in order to help all of the people in need. If you have the financial resources to give, please consider some of these local charities. When we help them, we help our neighbors and strengthen our community. Portland Rescue Missi ..read more

Real estate activity in Portland, and in most of America, came to a screeching halt in mid-March as would-be home buyers and sellers slowed or paused their plans amid initial COVID-19 concerns. The economic disruption from stay-at-home orders deepened and extended the concerns. So what is happening now? What’s the latest in the Portland housing market? The number of closed sales and the median sale prices in 2020 rose each month through March, compared to previous months and to the same months in 2019. April saw closed sales fall and the median sale price remain unchanged in a month where we w ..read more

The most dangerous words in economics, “This time is different,” are a stark reminder to be very careful predicting the future based on history. That said, here is our forecast for the Portland housing market for the remainder of 2020, based on what we have seen before. Nobody will escape the effects of the current recession. Closed businesses and job losses affect everyone. Many worry that the recession will result in falling home prices. We don’t think that will happen in Portland. In three of the last five recessions U.S. home prices actually rose. The last, the Great Recession of 2007-2009 ..read more

Phil created this presentation deck with slides that show what’s happened to our market since we’ve been staying home to curb Covid 19 infection rates. Check it out if you want to see a quick snapshot of the impact(s) on pricing, sales volume, listed inventory, showing activity, and affordability.  I turned on the Zoom recorder yesterday, and created this quick video of our conversation about these market numbers. It’s about six minutes long if you want to see and hear our conversation. If you’ve been thinking about taking advantage of a buying opportunity, or know you want or need to sell ..read more

Times are tough out there for many of us right now, but thankfully, Oregon has a wide array of resources, both public and private, that can help if you need assistance with food, shelter, or utilities. Please don’t feel like you’re alone! These organizations are doing everything they can to help Oregonians under very challenging circumstances. On the flip side, if you have the financial resources to help any of these organizations, please consider doing so. They can use any help they receive right now to make the good they’re doing go even further. Food Snowcap Food Pantry SnowCap Food Pantry ..read more

People are often surprised to learn that home improvement projects are not equal when it comes to how much of a return you can expect to get on your investment. It’s nearly always less than 100% of the amount you spend on the improvement, though there are a few exceptions. That said, certain home improvement projects will net you much more than others. I’m here to break down which ones will give you the best return on your investment. And this data is specific to Portland, thanks to the folks at Remodeling magazine, who share this region-specific data each year. If you’re doing home improveme ..read more