Portland | Buying, selling and operating apartments in Portland

Oct 16 – Portland Apartment Sales

4 December 2016
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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:

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: financials, portland, transactions

Sept 16 – Portland Area Apt Sales

27 October 2016
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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
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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
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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
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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
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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
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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

City of Portland – Landlord Training Guide

10 June 2016
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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:

https://www.portlandoregon.gov/bds/article/96790

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:

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, Portland, Salem and Vancouver Apartment Market Issues

Portland Apartment Sales – April 2016

26 May 2016
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To download the individual sales report, right-click the link below and “Save As”:

<<<Portland_Apr16vsApr15_AptSales>>>

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:

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 Issues
Tags: $/sqft, $/unit, Apartment Buying, CapRate, Clackamas, Clark, Multnomah, Washington

Portland Apt Sales – March 2016

28 April 2016
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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

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/

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

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