Portland Apartment Sales – May 2016

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:

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. 

Portland Apt Sales – March 2016

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

<<<Portland_Mar16vsMar15_AptSales>>>

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. 

January 2016 – Portland Apartment Sales

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

<<<PortlandApartments_Jan16vsJan15Sales>>>

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. 

December 2015 Portland Apartment Sales

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

<<<PortlandAptSales_Dec15>>>

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.