Gross $ Jan 20 YTD = $164M is a 124.2% INCREASE from Jan 19 YTD = $73M
$/unit Jan 20 YTD = $203K is a 11.0% INCREASE over Jan 19 YTD = $183K.
$/SqFt Jan 20 YTD = $218.28 is a 4.6% DECREASE over Jan 19 YTD = $228.84
* There was ONE large sale that accounted for 60% of total gross sales that did skew numbers.
We should have a 2014-2019 Portland Apartment Market History available by mid-March.
If you need any info about apartment sales in the Portland – METRO, we have sales data over the past 15 years +. Feel free to contact me – steve@smicre.com.
The 2013-2018 Portland Apartment Market History is available on the WEBsite at:
Free financial analysis of your property, eMail/call me for a SAMPLE report. It will be helpful if you’re making decisions about futures or operations and includes I&E comparison to neighboring properties along with recent sales and rent comparables.
Steve Morris | Principal Broker SMI Commercial Real Estate Phone: 503.970.4593 steve@smicre.com | www.smicre.com OR License # 200202054 | WA License # 24512
Gross $ Dec 19 YTD = $2281M is a 9.8% DECREASE from Dec 18 YTD = $2529M
$/unit Dec 19 YTD = $183K is a 3.3% DECREASE over Dec 18 YTD = $190K.
$/SqFt Dec 19 YTD = $207.92 is a 7.0% DECREASE over Dec 18 YTD = $223.46
We should have a 2014-2019 Portland Apartment Market History available by late-February.
If you need any info about apartment sales in the Portland – METRO, we have sales data over the past 15 years +. Feel free to contact me – steve@smicre.com.
The 2013-2018 Portland Apartment Market History is available on the WEBsite at:
Free financial analysis of your property, eMail/call me for a SAMPLE report. It will be helpful if you’re making decisions about futures or operations and includes I&E comparison to neighboring properties along with recent sales and rent comparables.
Steve Morris | Principal Broker SMI Commercial Real Estate Phone: 503.970.4593 steve@smicre.com | www.smicre.com OR License # 200202054 | WA License # 24512
Gross $ Nov 19 YTD = $2020M is a 10.0% DECREASE from Nov 18 YTD = $2245M
$/unit Nov 19 YTD = $184K is a 3.0% DECREASE over Nov 18 YTD = $190K.
$/SqFt Nov 19 YTD = $208.76 is a 7.8% DECREASE over Nov 18 YTD = $226.48
If you need any info about apartment sales in the Portland – METRO, we have sales data over the past 15 years +. Feel free to contact me – steve@smicre.com.
We should have a 2014-2019 Portland Apartment Market History available by late-February.
The 2013-2018 Portland Apartment Market History is available on the WEBsite at:
Free financial analysis of your property, eMail/call me for a SAMPLE report. It will be helpful if you’re making decisions about futures or operations and includes I&E comparison to neighboring properties along with recent sales and rent comparables.
Steve Morris | Principal Broker SMI Commercial Real Estate Phone: 503.970.4593 steve@smicre.com | www.smicre.com OR License # 200202054 | WA License # 24512
– Free financial analysis of your property, eMail/call me for a SAMPLE report. It will be helpful if you’re making decisions about futures or operations and includes I&E comparison to neighboring properties along with recent sales and rent comparables.
Steve Morris | Principal Broker SMI Commercial Real Estate Phone: 503.970.4593 steve@smicre.com | www.smicre.com OR License # 200202054 | WA License # 24512
Tabulation of Largest Sales by $/unit, $/SqFt. Gross $, County and 2012-2017 Largest sales.
If you’d like more information on:
– Free financial analysis of your property, eMail/call me for a SAMPLE report. It will be very helpful if you’re making decisions about futures or operations and includes I&E comparison to neighboring properties along with recent sales and rent comparables.
– 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
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.
When we have a well-informed buyer and seller agreed on a price why/when do we need an appraisal and what goes into one?
Why do appraisals exist:
Usually at the request of a 3rd party like a lender who needs to assure (their shareholders) a property in their portfolio has “true” value.
Part of the sales agreement. Sometimes an appraisal is used to set the price or (like most sales contracts) there is a clause stating a sales price must “meet or beat” appraisal.
Risk-averse buyers – Governmental or non-profits chartered with the stewardship of public funds or donations in a prudently need to ensure they are paying a “fair” price for an asset.
An appraisal is an estimate of value made by an objective disinterested (i.e. neither in favor of the buyer or seller) party and considers multiple market factors.
What does an appraiser look at to establish real-world value?The object is to see if there is an “average” value of a similar property that has been recently purchased. They do this by looking at:
The operating numbers, condition and current use (i.e. can it be repurposed and bring higher value) of the property. This is used to determine a rate of return since commercial property is bought for investment purposes.
Comparable sales of similar properties to normalize/adjust pricing of the appraisal.
What makes a property “comparable” to the appraised property?
Proximity to appraised property (location makes a big difference in value).
Condition of the property (does it need a lot of CapEx just to make it average) will affect sales price.
Age. The average 70s vintage property sells for the min $/unit compared to other decades. [cf. The 5-year Portland sales history (on this WEBsite)]
Size – You have different types of buyers dependent on property size. Smaller buyers may place aesthetics over investment return.
Unit mix – Comparing an apartment with all studios vs. one with all 3 bed units is not representative.
Whether for an appraisal, your investment return or max sales price, you need to keep your property in good shape (for buyer/tenant appeal), stay on top of maintenance and maximize your NOI.
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.
Tabulation of Largest Sales by $/unit, $/SqFt. Gross $, County and 2012-2017 Largest sales.
If you’d like more information on:
– Free financial analysis of your property, eMail/call me for a SAMPLE report. It will be very helpful if you’re making decisions about futures or operations and includes I&E comparison to neighboring properties along with recent sales and rent comparables.
– 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
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.
Portland Apartment Sales
Buying, selling and operating apartments in Portland 