Buying, selling and operating apartments in Portland

Portland Apartment Sales – May 18

29 June 2018
Leave a Comment

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

<<<Portland_May18_AptSales>>>

Highlights:

  • Gross sales dollars May 18 YTD = $713M is a 33% INCREASE over May 17 YTD = $500M
  • $/unit May 18 YTD = $175K is a 5% INCREASE over May 17 YTD = $167K.
  • $/SqFt May 18 YTD = $221.22 is a 18% INCREASE over May 17 YTD = $187.95

We had a strong month vs. May 17.  At $138M gross sales we are at $1.6B in annual sales rate (vs. $1.7B for 2017 and $2.95B for 2016).  Interest rates and strength of the rental market in Portland (especially for new construction) are the biggest threats.

If you’d like more information on:

– 2012-2017 Portland Apt Market history.  Is posted at 

https://portlandapartmentsales.com/2018/03/22/portland-apt-market-2017-annual-report/

If you like numbers, you’ll find this recap of the market for the past 5 years of interest.  You can eMail me for a copy also.

– 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.

– 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. 

Advertisements

Portland Apartment Sales – April 18

24 May 2018
Leave a Comment

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

<<<Portland_Apr18vApr17_AptSales>>>

Highlights:

  • Gross sales dollars April 18 YTD = $550M is a 33% INCREASE over April 17 YTD = $413M
  • $/unit April 18 YTD = $175K is a 3% INCREASE over April 17 YTD = $169K.
  • $/SqFt April 18 YTD = $226.95 is a 23% INCREASE over April 17 YTD = $185.29

We had a weak month vs. April 17.  At $40M gross sales we are at $1.5B in annual sales rate (vs. $1.7B for 2017 and $2.95B for 2016).  Interest rates and strength of the rental market in Portland (especially for new construction) are the biggest threats.

If you’d like more information on:

– 2012-2017 Portland Apt Market history.  Is posted at https://portlandapartmentsales.com/2018/03/22/portland-apt-market-2017-annual-report/ 

If you like numbers, you’ll find this recap of the market for the past 5 years of interest.  You can eMail me for an early copy

– 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 Apt Sales – March 18

26 April 2018
Leave a Comment

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

<<<Portland_Mar18vMar17_AptSales>>>

Highlights:

  • Gross sales dollars March 18 YTD = $514M is a 44% INCREASE over March 17 YTD = $357M
  • $/unit March 18 YTD = $175K is a 3% INCREASE over March 17 YTD = $171K.
  • $/SqFt March 18 YTD = $237.14 is a 22% INCREASE over March 17 YTD = $195.02

We had a pretty good up month over March 17.  At $160M gross sales we are at $1.9B in annual sales rate (vs. $1.7B for 2017 and $2.95B for 2016) so hoping this continues.

If you’d like more information on:

– 2012-2017 Portland Apt Market history.  Is posted at https://portlandapartmentsales.com/2018/03/22/portland-apt-market-2017-annual-report/ 

If you like numbers, you’ll find this recap of the market for the past 5 years of interest.  You can eMail me for an early copy

– 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 Apt Sales – Feb 18

29 March 2018
Leave a Comment

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

<<<Portland_Feb18vFeb17_AptSales>>>

Highlights:

  • Gross sales dollars Feb 18 YTD = $354M is a 33% INCREASE over Feb 17 YTD = $266M
  • $/unit Feb 18 YTD = $239K is a 68% INCREASE over Feb 17 YTD = $169K.
  • $/SqFt Feb 18 YTD = $266.25 is a 56% INCREASE over Feb 17 YTD = $195.34

We had a pretty good up month over Feb 17.  At $197M gross sales we are at $2.0B in annual sales rate (vs. $1.7B for 2017 and $2.95B for 2016) so hoping this continues.

If you’d like more information on:

– 2012-2017 Portland Apt Market history.  Is posted at https://portlandapartmentsales.com/2018/03/22/portland-apt-market-2017-annual-report/ 

If you like numbers, you’ll find this recap of the market for the past 5 years of interest.  You can eMail me for an early copy

– 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 Apt Market – 2017 Annual Report

22 March 2018
Leave a Comment

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

<<<PortlandAptHistory_2012-2017_14Mar18>>>

Highlights / Contents:

  • General Market Comments
  • New Construction Update
  • Sales by County
  • Sales by Neighborhood
  • Sales by Unit Count of project
  • Sales by Decade Built
  • 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 Apt Sales – Jan 18

1 March 2018
Leave a Comment

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

<<<Portland_Jan18vJan17_AptSales>>>

Highlights:

  • Gross sales dollars Jan 18 YTD = $173M is a 135% INCREASE over Jan 17 YTD = $74M
  • $/unit Jan 18 YTD = $191K is a 1% DECREASE over Jan 17 YTD = $193K.
  • $/SqFt Jan 18 YTD = $303.60 is a 39% INCREASE over Jan 17 YTD = $217.87

We had a pretty good up month over Jan 17.  At $173M gross sales we are at $2.1B in annual sales rate (vs. $1.7B for 2017 and $2.95B for 2016) so hoping this continues.

If you’d like more information on:

– Free 2012-2017 Portland Apt Market history.  Should be about 15 March 18.  If you like numbers, you’ll find this recap of the market for the past 5 years of interest.  You can eMail me for an early copy

– 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 Apt Sales – Nov 17

29 December 2017
Leave a Comment

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

<<<Portland_Nov17vsNov16_AptSales>>>

Highlights:

  • Gross sales dollars Nov 17 YTD = $1306M is a 43% DECREASE over NOV 16 YTD = $2301M
  • $/unit Nov 17 YTD = $172K is a 18% INCREASE over Nov 16 YTD = $145K.
  • $/SqFt Nov 17 YTD = $198.43 is a 20% INCREASE over Nov 16 YTD = $165.88

Overall YTD gross dollars are down mainly due to lack of large (>100 units) investors interest in Portland.  Nov 16 + Dec 16 alone had almost $1B in total 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 Apt Sales – Sept 17

26 October 2017
Leave a Comment

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

<<<Portland_AptSales_Sept17>>>

Highlights:

  • Gross sales dollars Sept 17 YTD = $1032M is a 25% DECREASE over Sept 16 YTD = $1378M
  • $/unit Sept 17 YTD = $172K is a 25% INCREASE over Sept 16 YTD = $137K.
  • $/SqFt Sept 17 YTD = $197.70 is a 25% INCREASE over Sept 16 YTD = $158.15

Half of Sept 17 sales was one large transaction in Happy Valley that accounted for 52% of the total sales for the month.  Overall YTD gross dollars are down mainly due to lack of large (>100 units) investors interest in Portland.

If you’d like more information on:

– Free financial analysis of your property, eMail me for a SAMPLE report.  It will be very helpful if you’re making decisions about futures or operations.

– 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. 


Portland Apartment Sales – Aug 17

28 September 2017
Leave a Comment

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

<<<Portland Apt Sales – Aug 17 vs Aug 16 >>>

Highlights:

  • Gross sales dollars Aug 17 YTD = $919M is a 28% DECREASE over Aug 16 YTD = $1267M
  • $/unit Aug 17 YTD = $172K is a 26% INCREASE over Aug 16 YTD = $137K.
  • $/SqFt Aug 17 YTD = $198.21 is a 26% INCREASE over Aug 16 YTD = $157.37

What saved Aug 17 sales was one large transaction in Hillsboro that accounted for 62% of the total sales for the month.  Inventory is starting to grow.  However, properties priced at a premium to market are sitting.  If you’d like a financial analysis / valuation using real numbers contact me. 

If you’d like more information on:

– Free financial analysis of your property, eMail me for a SAMPLE report.  It will be very helpful if you’re making decisions about futures or operations.

– 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. 


An unsolicited (or any) Offer – How do I rank/evaluate it?

27 July 2017
Leave a Comment

Unsolicited offers sometimes work out for a seller.  However, what can you ask yourself to rate if it is a GOOD and SOLID offer worth your time to proceed?  Here are some questions to ask yourself, in order:

  1. PRICING – A breath-taking price may be not that high if you haven’t done an analysis on your property lately.  In 2013, the average sale was $88,934/unit in 2017 YTD = $161,131/unit or a 16% per year increase.  While we don’t anticipate this continuing, do a valuation / financial analysis.  Actively marketing the property will get you the best price 99% of the time – Unsolicited offers are seeking opportunities.
  2. EARNEST MONEY – CASH OR NOTE?  If you accept a note, a buyer may be able to tie your property up until closing with no cash out of their pocket.  Worse, they may be able to tie up multiple properties (as in a 1031 search) this way.  Without his cash at risk, the buyer loses a lot of motivation to negotiate with a seller. 
  3. EXPOSURE/RESUME – Has the buyer seen your property?  Does he own property in town?  Does he have a financing reference?
  4. WHEREWITHAL – Is the buyer willing to show proof of funds for a down payment?  If he is expecting to get a property for less than 25% down (or a LTV > 75%) that is probably unrealistic.
  5. NEGOTIATION – Assume the first number is not the best offer from a buyer on an unsolicited offer.  It may be a good test to see how they react to a counter.

We can do a very thorough financial analysis on your property which will point out how to increase your Net Operating Income.  We compare your rents and expenses to neighboring properties to address your priorities.  In addition, we provide a valuation with comparable sales to correlate value.  eMail me if you’d like a sample report to examine.


Next Page »