Portland Apartment Sales

Jan 17 Portland METRO Apt Sales- Jan 17

3 March 2017
Leave a Comment

To download the individual sales report, right-click the link below and “Save As”:

<<<portland_jan17vsjan16_aptsales>>>

Highlights:

CapRates reported are still in the low 5% compared to 2016 in the mid 5% range.
$/unit Jan 17 YTD is a 70% increase over Jan 16 YTD.
$/SqFt Jan 17 YTD is a 71% increase over Jan 16 YTD.
Jan 17 YTD sales = $72M vs. Jan 16 YTD sales of $158M

Jan 17 got off to a slow start, however, it followed a huge month in Dec 16. The market does seem to be changing with pricing (and rents) giving signs of topping out for the near term.

I’ll be posting a 5 year (2011-2016) Portland apartment sales history by mid-March, but if you’d like an earlier copy, eMail me. I sort sales by:

County
Neighborhood
Complex Size
Decade Built
Largest sales per county by total sale, $/SqFt and $/Unit

Interest rates – The threat of small increases remains, however, with lower unemployment we haven’t seen the wage and general inflation that drives increases so far.

If you’d like more information on:

– Details/background on individual sales in the report or a breakdown by neighborhood

– Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

– A very useful financial analysis of your property, call. It will include I&E comparison to neighboring properties along with recent sales and rent comparables.

Please contact me:

Steve Morris | Vice-President
IMG Northwest
1234 SW 18th, Suite 102
Portland, OR 97205
Phone: 503.970.4593
steve@imgnorthwest.com | www.imgnorthwest.com
OR License # 200202054 | WA License # 24512

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here.

Posted in Apartment Buying, Apartment Selling, Portland, Portland, Salem and Vancouver Apartment Market Issues
Tags: portland, Washington

Dec 16 + FY – Portland Apt Sales

26 January 2017
Leave a Comment

To download the individual sales report, right-click the link below and “Save As”:

<<<portland_dec16vsdec15_aptsales>>>

Highlights:

CapRates reported are still in the mid 5% compared to 2015 in the high 5% range.
$/unit Dec 16 YTD is a 15.6% increase over Dec 15 YTD.
$/SqFt Dec 16 YTD is a 10.6% increase over Dec 15 YTD.
Dec 2016 YTD sales = $2922M vs. Dec 2015 YTD sales of $2360M

We are 24% over 2015 Full Year gross sales which is much higher than I would’ve projected in Sept 16. 50% of 2016’s gross dollar sales happened in Oct, Nov and Dec 16.

Dec 16 would’ve been a good year not that long ago (in 2010 to be specific.)

I’ll be posting a 5 year (2011-2016) Portland apartment sales history by mid-Feb, but if you’d like an earlier copy, eMail me. I sort sales by:

County
Neighborhood
Complex Size
Decade Built
Largest sales per county by total sale, $/SqFt and $/Unit

Interest rates have jumped. My conjecture is there’s a sense of impending rate increases driving a burst of large transactions in Oct-Dec 16. Dec 16 had $668M in transactions (vs. $260M in Dec 15).

If you’d like more information on:

– Details/background on individual sales in the report or a breakdown by neighborhood

– Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

– A very useful financial analysis of your property, call. It will include I&E comparison to neighboring properties along with recent sales and rent comparables.

Please contact me:

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here.

Posted in Apartment Buying, Apartment Selling, Portland, Portland, Salem and Vancouver Apartment Market Issues
Tags: financials, invest, portland, rates, transactions

Portland Apt Sales – Nov 16

29 December 2016
Leave a Comment

To download the individual sales report, right-click the link below and “Save As”:

<<<portland_nov16_aptsales>>>

Highlights:

CapRates reported are still in the mid 5% compared to 2015 in the low 5% range.
$/unit Nov 16 YTD is a 12.7% increase over Nov 15 YTD.
$/SqFt Nov 16 YTD is a 9.5% increase over NOv 15 YTD.
Nov 2016 YTD sales = $2254M vs. Nov 2015 YTD sales of $2072M

We should be about 15%-20% over 2015 Full Year gross sales which is much higher than I would’ve projected in Sept 16.

Interest rates have jumped. My conjecture is there’s a sense of impending rate increases driving a burst of large transactions in Oct-Dec 16. Nov 16 had $434M in transactions (vs. $60M in Nov 15).

If you’d like more information on:

– Details/background on individual sales in the report or a breakdown by neighborhood

– Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

– A very useful financial analysis of your property, call. It will include I&E comparison to neighboring properties along with recent sales and rent comparables.

Please contact me:

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here.

Posted in Apartment Buying, Apartment Selling, Portland, Portland, Salem and Vancouver Apartment Market Issues

Oct 16 – Portland Apartment Sales

4 December 2016
Leave a Comment

To download the individual sales report, right-click the link below and “Save As”:

<<<portland_oct16vsoct15_aptsales>>>

Highlights:

CapRates reported are still in the mid 5% compared to 2015 in the high 5% range.
$/unit Oct 16 YTD is a 10.0% increase over Oct 15 YTD.
$/SqFt Oct 16 YTD is a 8.3% increase over Oct 15 YTD.
Oct 2016 YTD sales = $1736M vs. Oct 2015 YTD sales of $1998M

We’re still behind 2015 YTD sales numbers, however, we should be about even with 2015 FullYear gross sales due to a couple of large sales in November.

There is a noticeable slow-down in SFR sales in Portland. We anticipate multi-units will reflect this with pricing and rent pressure moderating compared to 2016 YTD.

Interest rates have jumped. Depending on the extent, this may put pressure on pricing. In any case, for underwriting assume (as of today), loan rates in the mid 4% range (up from low 4% range).

If you’d like more information on:

– Details/background on individual sales in the report or a breakdown by neighborhood

– Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

– A very useful financial analysis of your property, call. It will include I&E comparison to neighboring properties along recent sales and rent comparables.

Please contact me:

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here.

Posted in Apartment Buying, Apartment Selling, Portland, Portland, Salem and Vancouver Apartment Market Issues
Tags: financials, portland, transactions

Sept 16 – Portland Area Apt Sales

27 October 2016
Leave a Comment

To download the individual sales report, right-click the link below and “Save As”:

<<<portland_sep16vssep15_aptsales>>>

Highlights:

CapRates reported are still in the mid 5% compared to 2015 in the high 5% range.
$/unit Sept 16 YTD is a 8.8% increase over Sept 15 YTD.
$/SqFt Sept 16 YTD is a 7.6% increase over Sept 15 YTD.
Sept 2016 YTD sales = $1459M vs. Sept 2015 YTD sales of $1784M

We’re still behind 2015 YTD sales numbers. There will be a noticeable dropoff in gross sales dollars for 2016 vs. 2015. This is mainly due to a reduction in the >100 unit complex sales. Here’s a history of ratio of >99 unit / <100 unit sales:

gte100

There is a noticeable slow-down in SFR sales in Portland. We anticipate that multi-units will reflect this with pricing and rent pressure moderating compared to 2016YTD.

Interest rates may show a slight increase by EOY. This may be one more chilling effect on the market.

If you’d like more information on:

– Details/background on individual sales in the report or a breakdown by neighborhood

– A Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

– A very useful financial analysis of your property, call me. It includes I&E comparison to similar properties, sales and rent comps.

Please contact me:

Steve Morris | Senior Advisor
Sperry Van Ness | Bluestone & Hockley
9320 SW Barbur Blvd, Suite 300
Portland, OR 97219
Phone: 503.970-4593 | Fax: 503.222.6459
steve.morris@svn.com | www.svnbluestone.com
OR License # 200202054 | WA License # 24512

All Sperry Van Ness^®Offices Independently Owned and Operated

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here.

Posted in Apartment Buying, Apartment Selling, Portland, Portland, Salem and Vancouver Apartment Market Issues

August 2016 – Portland Apartment Sales

29 September 2016
Leave a Comment

To download the individual sales report, right-click the link below and “Save As”:

<<<portland_aug16vsaug15_aptsales>>>

Highlights:

CapRates reported are still in the mid-high 5% compared to 2015 in the high 5% range.
$/unit Aug 16 YTD is a 7.9% increase over Aug 15 YTD.
$/SqFt Aug 16 YTD is a 5.6% increase over Aug 15 YTD.
Aug 2016 YTD sales = $1283M vs. Aug 2015 YTD sales of $1423M

We’re still behind 2015 YTD sales numbers. However, Aug 16 was greater than Aug 15 for monthly sales.

There is a noticeable slow-down in SFR sales in Portland. We anticipate that multi-units will reflect this with pricing and rent pressure moderating compared to 2015.

Interest rates may show a slight increase by EOY. However, this is the Fed giving itself more wiggle-room than an over-heated economy.

If you’d like more information on:

– Details/background on individual sales in the report or a breakdown by neighborhood

– A Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

Please contact me:

All Sperry Van Ness^®Offices Independently Owned and Operated

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here.

Posted in Apartment Buying, Apartment Selling, Portland, Portland, Salem and Vancouver Apartment Market Issues
Tags: $/sqft, $/unit, Apartment Buying, CapRate, Clackamas, Clark, Multnomah, transactions, Washington

Portland Apartment Sales – July 2016

1 September 2016
Leave a Comment

To download the individual sales report, right-click the link below and “Save As”:

<<<Portland_Jul16vsJul15_AptSales>>>

Highlights:

CapRates reported are still in the mid-high 5% compared to 2015 in the high 5% range.
$/unit July 16 YTD is a 7.0% increase over July 15 YTD.
$/SqFt July 16 YTD is a 6.8% increase over July 5 YTD.
July 2016 YTD sales = $1077M vs. July 2015 YTD sales of $1252M

Biggest change in YTD gross sales numbers is the drop-off in large (>100 units) sales in the market. These usually comprise 70%-75% of total gross sales in the 4 county are, so any drop is noticeable.

If you’d like more information on:

– Details/background on individual sales in the report or a breakdown by neighborhood

– A Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

Please contact me:

All Sperry Van Ness^®Offices Independently Owned and Operated

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here.

Posted in Apartment Buying, Apartment Selling, Portland, Portland, Salem and Vancouver Apartment Market Issues
Tags: $/sqft, $/unit, CapRate, Clackamas, Clark, Multnomah, transactions, Washington

Rent increase notices from a lease to M-T-M

17 August 2016
Leave a Comment

Cliff Hockley of Bluestone & Hockley has authored an article on you can raise rents if you let a lease roll over to a month-to-month tenancy. To download, right-click the link below and “Save As”:

<<<WhenCanLandlordsRaiseRentOregon_10Aug16>>>

Needless to say a landlord needs to exercise caution with rent increases. The article goes thru the current requirements for rent increase notices for increases. A lot of these may need case law to resolve

Excerpted from the article intro:

“Many of our readers have expressed confusion over when a landlord can raise rent in Oregon anymore. Specifically, they have asked us for help understanding how month-to-month rent increases should be handled after House Bill 4143 amended the Oregon Landlord Tenant Act.”

Steve Morris | Senior Advisor
SVN | Bluestone & Hockley
9320 SW Barbur Blvd, Suite 300
Portland, OR 97219
Phone: 503.970-4593 | Fax: 503.222.6459
steve.morris@svn.com | www.svnbluestone.com
OR License # 200202054 | WA License # 24512

All Sperry Van Ness^®Offices Independently Owned and Operated

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here.

Posted in Apartment Operations, Portland
Tags: Law, Rent increases

Portland Apartment Sales – June 2016

29 July 2016
Leave a Comment

To download the individual sales report, right-click the link below and “Save As”:

<<<Portland_Jun16vsJun15_AptSales>>>

Highlights:

CapRates reported are still in the mid-high 5% compared to 2015 in the high 5% range.
$/unit June 16 YTD is a 8.7% increase over June 15 YTD.
$/SqFt June 16 YTD is a 95.5% increase over June 15 YTD.
June 2016 YTD sales = $939M vs. June 2015 YTD sales of $1026M

If you’d like more information on:

– Details/background on individual sales in the report or a breakdown by neighborhood

– A Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

Please contact me:

All Sperry Van Ness^®Offices Independently Owned and Operated

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here.

Posted in Apartment Buying, Apartments - Other Topics, Portland, Portland, Salem and Vancouver Apartment Market Issues
Tags: $/sqft, $/unit, CapRate, Clackamas, Clark, Multnomah, sales, transactions, Washington

Portland Apartment Sales – May 2016

30 June 2016
Leave a Comment

To download the individual sales report, right-click the link below and “Save As”:

<<<Portland_May16vsMay15_AptSales>>>

Highlights:

CapRates reported are still in the mid-high 5% compared to 2015 in the high 5% range.
$/unit May 16 YTD is a 12.7% increase over May 15 YTD.
$/SqFt May 16 YTD is a 9.9% increase over May 15 YTD.
May 2016 YTD sales = $893M vs. May 2015 YTD sales of $635M

28 July Seminar – We are sponsoring a free seminar in Lake Oswego, OR from 500PM to 630PM on Thursday, 28 July. We are limited to 20 people, so if interested let me know soon. Here are the topics:

Section 1 (1/2 hour) – Apartment math

– Measuring your apartment’s performance

– How do you know if you’re doing better?

– What buyers look for

– How do I improve my NOI and/or price?

Section 2 (1/2 hour) – Selling your apartment

– Making your property look its best

– How are properties marketed for sale

– Things to look for in an offer

– Once accepted what are timeline / milestone items to close

– What’s in a normal Purchase and Sales / Earnest Money Agreement

Section 3 (1/2 hour) – Delaware Statutory Trusts

– How do sellers defer taxes

– Overview of 1031

– DST structure and financial returns

– Choosing the best DST for you

If you’d like more information on:

– Details/background on individual sales in the report or a breakdown by neighborhood

– A Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

Please contact me:

All Sperry Van Ness^®Offices Independently Owned and Operated

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here.

Posted in Apartment Buying, Apartment Selling, Portland, Portland, Salem and Vancouver Apartment Market Issues

« Previous Page — Next Page »