Monday, May 22, 2017

Housing, preparedness top county’s agenda

Housing, preparedness top county’s agenda: GEARHART — Elected officials and staff in Clatsop County seem to agree on two things: housing and emergency preparedness are the major issues, and political will is the key to address them.Roughly 40 officials gathered Tuesday night at McMenamin’s Gearhart Hotel and Sand Trap Pub to di

Monday, May 8, 2017

Portland-area real estate: 10 most in-demand neighborhoods

Seattle, Portland lead in rising home prices

Seattle, Portland lead in rising home prices

for sale house north portland
A house for sale in North Portland on April 14, 2017. (Elliot Njus/The Oregonian)
Elliot Njus | The Oregonian/OregonLive By Elliot Njus | The Oregonian/OregonLive
Email the author | Follow on Twitter
on April 25, 2017 at 9:45 AM, updated April 25, 2017 at 11:08 AM
Home prices are accelerating in Portland and cities across the country as buyers compete for a thin supply of homes.
Prices in the Portland metro area climbed 9.7 percent in February from a year earlier, according to the S&P CoreLogic Case-Shiller home price index.
Portland was second only to the Seattle area, which saw home prices climb 12.2 percent. Nationally, prices jumped 5.8 percent, setting a 32-month high.
Of the 20 metro areas included in the index, 15 saw annual price increases accelerate in February, potentially setting the stage for more sticker shock in the spring and summer home-buying season.
The number of homes on the market has remained persistently low, and would-be buyers continue to bid prices higher as a result. The biggest increases have been among the lowest-priced homes, putting them further out of reach for first-time homebuyers.

The starter home has become an endangered species in Portland's robust real estate market -- even for middle-income earners with decent savings.
A potential increase in mortgage rates and slower rent growth could help put the brakes on home-price gains, said Svenja Gudell, chief economist for the real-estate website Zillow.
"Both could put a dent in home-buyer demand and overall price growth and affordability," Gudell said. "Those changes won't necessarily be unwelcome, especially in some rapidly growing coastal markets in which buyers, sellers and renters could all use a breather."
The Case-Shiller index uses repeat sales of the same homes to measure values across an entire market. It's a three-month rolling average.
The median Portland-area home sold for $353,400 in February, according to the Regional Multiple Listing Service. That figure climbed to $370,000 in March.

-- Elliot Njus

Across much of Oregon, people are feeling the housing crunch

Across much of Oregon, people are feeling the housing crunch: BEND — Oregon has become a desirable place to live, with droves of people moving to the state in the Pacific Northwest. But the availability of housing has not kept up. From villages on the rugged coastline, to Portland, to towns near the mountains and in Oregon’s famed forests, people are in desperate need of affordable rental housing as rates keep going up and rentals become scarcer.

Your Need to Know Guide to Buying a New Home

If you’ve been following along, you know that last time around we covered a lot of the important things you should be thinking about when b...