On 16 May 2016, the City of Portland a day-long seminar on operating apartments in Portland. These are annual events, free and well worth your time if you are an owner in or out of Portland. They are annual events (usually in the Spring). I will send out an eMail or can give you contact info on request.
To download the 100-page book from the seminar, click the link below and download:
Contents of the manual:
- Preparing your Property
- Portland Maintenance Code
- Applicant screening
- Rental Agreements
- Ongoing Management
- Signs of Drug Use
- Crisis Resolution
- The Role of Police
- Appendix with forms and contacts useful to operator
If you’d like a Free copy of my 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis
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.
To download the individual sales report, right-click the link below and “Save As”:
Highlights:
- CapRates reported are still in the mid-high 5% compared to 2015 in the low 6% range.
- $/unit April 16 YTD is a 15.2% increase over April 15 YTD.
- $/SqFt April 16 YTD is a 14.5% increase over April 15 YTD.
- April 2016 YTD sales = $674M vs. April 2015 YTD sales of $576M
Rent/Tenant environment – Class A units in close-in locations (especially new construction) are starting to give concessions. We continuously monitor, but be aware that rent growth may be flattening.
Apartment pricing – This will be driven by income growth and interest rates. Based on 2015YTD vs. 2016 YTD we are not seeing the same rate of increase as 2015 vs. 2014.
City of Portland Landlord Training – This is a regular training and very useful, especially with landlord law. We are in process of getting PDFs of the May 16 presentation and will post these and send out a blog notice with a link. If you’d like an earlier copy, eMail me.
YOUR PROPERTY – If you’d like a further breakdown on how in-demand your neighborhood is call. Be aware of the current value of your apartment with unsolicited offers. We offer valuations that include expense analysis with rent and sales comparables to back up any pricing.
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:
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 Selling,
Portland,
Portland, Salem and Vancouver Apartment Market IssuesTags:
$/sqft,
$/unit,
Apartment Buying,
CapRate,
Clackamas,
Clark,
Multnomah,
Washington
To download the individual sales report, right-click the link below and “Save As”:
Highlights:
- CapRates reported are still in the mid-high 5% compared to 2015 in the low 6% range.
- $/unit March 16 YTD is a 5.3% increase over March 15 YTD.
- $/SqFt March 16 YTD is a 5.3% increase over March 15 YTD.
- March 2016 YTD sales = $546.32M vs. March 2015 YTD sales of $433.0M
Rent/Tenant environment – Class A units in close-in locations (especially new construction) are starting to give concessions. We continuously monitor, but be aware that rent growth may be flattening.
Apartment pricing – This will be driven by income growth and interest rates. However, for units in the right location, buyers are still driving pricing with close-in units pushing the $200K/unit price mark. Based on 2015YTD vs. 2016 YTD we are not seeing the same rate of increase as 2014 vs. 2015.
2010-2015 Portland Apartment Market History Report is available for download at:
https://portlandapartmentsales.com/2016/03/10/2010-2015-portland-apartment-summary/
YOUR PROPERTY – If you’d like a further breakdown on how in-demand your neighborhood is call. Be aware of the current value of your apartment with unsolicited offers. We offer valuations that include expense analysis with rent and sales comparables to back up any pricing.
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:
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.
To download the individual sales report, right-click the link below and “Save As”:
Highlights:
- CapRates reported are still in the mid-high 5% compared to 2015 in the low 6% range.
- $/unit Feb 16 YTD is a 1.6% increase over Feb 15 YTD.
- $/SqFt Feb 16 YTD is a 1.8% increase over Feb 15 YTD.
- Feb 2016 YTD sales = $354.0M vs. Feb 2015 YTD sales of $354.1M
Rent/Tenant environment – There are reports of tenant push-back on rent increases and move-ins asking for concessions. We do continuously monitor, but be aware that rent growth may be flattening.
Apartment pricing – This will be driven by income growth and interest rates. However, for units in the right location, buyers are still driving pricing with close-in units pushing the $200K/unit price mark.
2010-2015 Portland Apartment Marker History Report is available for download at:
https://portlandapartmentsales.com/2016/03/10/2010-2015-portland-apartment-summary/
YOUR PROPERTY – If you’d like a further breakdown on how in-demand your neighborhood is call. Be aware of the current value of your apartment with unsolicited offers. We offer valuations that include expense analysis with rent and sales comparables to back up any pricing.
If you’d like more information on:
– Details/background on individual sales in the report or
– A Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis
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.
To download the 5 year summary sales report, right-click the link below and “Save As”:
Included in the report are with summary tables based on actual sales outlining:
Operating Dynamics Trends
5 year history overview
New construction overview
2015 Sales By County
2015 Sales By Neighborhood
2015 Sales By Complex Size (100 and less vs. >100 units)
2015 Sales By Decade Built
2015 Largest Sales by Gross $ and $/unit
2015 Largest Sales by County
2014 Largest Sales by Gross $
YOUR PROPERTY – If you’d like a further breakdown on how in-demand your neighborhood is call. Be aware of the current value of your apartment with unsolicited offers. We offer valuations that include expense analysis with rent and sales comparables to back up any pricing.
If you’d like more information on:
– Details/background on individual sales in the report or
– A Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis
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.
To download the individual sales report, right-click the link below and “Save As”:
Highlights:
- CapRates reported are still in the mid-high 5% compared to 2015 in the low 6% range.
- $/unit Jan 16 YTD is a 2.4% decrease over Jan 15 YTD.
- $/SqFt Jan 16 YTD is a 12% increase over Jan 15 YTD.
- Jan 2016 YTD sales = $152.6 vs. Jan 2015 YTD sales of $165.9M
Rent/Tenant environment – Albeit anecdotal, we are hearing reports of tenant push-back on rent increases and move-ins asking for concessions. We do continuously monitor, but be aware that rent growth may be flattening.
Apartment pricing – This will be driven by income growth and interest rates. However, for units int he right location, buyers are still driving pricing with close-in units pushing the $200K/unit price mark.
YOUR PROPERTY – If you’d like a further breakdown on how in-demand your neighborhood is call. Be aware of the current value of your apartment with unsolicited offers. We offer valuations that include expense analysis with rent and sales comparables to back up any pricing.
If you’d like more information on:
– Details/background on individual sales in the report or
– A Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis
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.
To download the individual sales report, right-click the link below and “Save As”:
Highlights:
- CapRates reported are still in the mid-high 5% compared to 2014 in the low 6% range.
- $/unit Dec 15 YTD is a 13% increase over Dec 14 YTD.
- $/SqFt Dec 15 YTD is a 18% increase over Dec 14 YTD.
- Final FY 2015 sales = $2.3B vs. 2014 sales of $1.6B (previous best ever year)
Interest rate environment – While there has been an increase in the base rate, this hasn’t made much difference in finance rates on apartments which are still a bank favorite lending target. The cloud of a potential recession should shut down any rate increase for the foreseeable future.
Landlord/Tenant Changes – City of Portland enacted a 90-day notice rule for rent increases >5%. Effective 1 January 2016, Oregon has enacted tenant law changes also. If you’d like a copy of a presentation by Leah Sykes of Bittner-Hahs attorneys, please download it at:
https://portlandapartmentsales.com/2015/11/25/oregon-portland-new-rules-for-apt-owners/
YOUR PROPERTY – If you’d like a further breakdown on how in-demand your neighborhood is call. Be aware of the current value of your apartment with unsolicited offers. We offer valuations that include expense analysis with rent and sales comparables to back up any pricing.
If you’d like more information on:
– Details/background on individual sales in the report or
– A Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis
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.
For detail on individual sales, please download the PDF at:
(Right-click link and Save As)
Nov 2015 had $59M in sales in the 4 (OR – Washington, Clackamas and Multnomah and WA – Clark) counties. This is a 25% decrease from Nov 2014 ($79M).
In terms of total sales dollars, 2015 is highest year ever. Nov 15 YTD at $2.058B has easily surpassed 2014 FY sales of $1.6B
Highlights:
-
CapRates reported are still in the mid-high 5% compared to 2014 in the low 6% range.
-
$/unit Nov 15 YTD is a 13% increase over Nov 14 YTD.
-
$/SqFt Nov 15 YTD is a 17% increase over Nov 14 YTD.
-
Projected FY 2015 sales = $2.25B vs. 2014 sales of $1.6B (previous best ever year)
Interest rate environment – The Fed did make a 0.25% increase in overnight funds rates with a threat of future increases this year (2016).
Landlord/Tenant Changes – City of Portland enacted a 90-day notice rule for rent increases >5%. Effective 1 January 2016, Oregon has enacted tenant law changes also. If you’d like a copy of a presentation by Leah Sykes of Bittner-Hahs attorneys, please download it at:
https://portlandapartmentsales.com/2015/11/25/oregon-portland-new-rules-for-apt-owners/
YOUR PROPERTY – If you’d like a further breakdown on how in-demand your neighborhood is call. Be aware of the current value of your apartment with unsolicited offers. We offer valuations that include expense analysis with rent and sales comparables to back up any pricing.
If you’d like more information on:
– Details/background on individual sales in the report or
– A Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis
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.
For detail on individual sales, please download the PDF at:
(Right-click link and Save As)
Oct 2015 had $210M in sales in the 4 (OR – Washington, Clackamas and Multnomah and WA – Clark) counties. This is a 8.4% decrease from Oct 2014 ($230M).
It is official, in terms of total sales dollars, 2015 is highest year ever. Oct 15 YTD at $2B has easily surpassed 2014 FY sales of $1.6B
Oct 2015 had $210M in total sales. Highlights:
-
CapRates reported are still in the mid 5% compared to 2014 in the low 6% range.
-
$/sqft and $/unit. $/unit Oct 15 YTD is a 13% increase over Oct 14 YTD. $/SqFt Oct 15 YTD is a 17% increase over Oct 14 YTD.
-
Projected FY 2015 sales = $2.35B vs. 2014 sales of $1.6B (previous best ever year)
Interest rate environment – Probabilities favor an increase by the Fed by EOY. Then again, stop me if you’ve heard this one before.
Portland backlash – City of Portland enacted a 90-day notice rule for rent increases >5%.
YOUR PROPERTY – If you’d like a further breakdown on how in-demand your neighborhood is call. Be aware of the current value of your apartment with unsolicited offers. We offer valuations that include expense analysis with rent and sales comparables to back up any pricing.
If you’d like more information on:
– Details/background on individual sales in the report or
– A Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis
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,
Portland,
Portland, Salem and Vancouver Apartment Market Issues,
Salem and Vancouver Apartment Market IssuesTags:
$/unit,
Apartment Buying,
Capitalization Rate,
CapRate,
Clackamas,
Clark,
Multnomah,
sales,
Washington
Please download the PDF of a presentation by Leah Sykes of Hahs & Bittner on rule changes that will affect landlords in 2015 and 2016
Portland backlash – City of Portland enacted a 90-day notice rule for rent increases >5% and no-cause evictions effective 14 Nov 15.
In addition, the state of Oregon has made changes effective 1 Jan 16. Changes will affect:
- Penalties
- Damage assessments
- What is a bedroom (don’t laugh)
- Waivers
- Timing of notices
If you’d like more information on:
– Details/background on individual sales in the report or
– A Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis
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.
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Portland Apartment Sales
Buying, selling and operating apartments in Portland 