Comments on: No Real Fireworks in Portland June Real Estate Activity http://repdx.com/2008/07/04/no-real-fireworks-in-portland-june-real-estate-activity/ Portland Oregon Real Estate Resources Thu, 22 Jul 2010 01:21:20 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Uncle_Git http://repdx.com/2008/07/04/no-real-fireworks-in-portland-june-real-estate-activity/comment-page-1/#comment-577 Uncle_Git Thu, 10 Jul 2008 17:19:11 +0000 http://www.repdx.com/?p=351#comment-577 The point where a home makes sense historically is about 120 X Monthly rent for investment purposes - say 150X allowing for a margin for pride of ownership and all that nonsense. 15 X annual (180X monthly) sounds high to be to be honest - but we can go with that... A house just sold on my street - more or less the same place as I rent - just with one extra bedroom and a single instead of a double garage. My rent vs buy penciled out to 402 X monthly rent.... Given we are at all time high inventory levels of unsold property I don't buy the "restricted growth" thing at all. And everywhere offers "quality of life" depending on what you are looking for - it depends on your own personal compass. If you are a beach going surfer, being trapped in rain 8 months of the year is hell on earth. If you are a translucent skinned Irishman like myself year round 80+ degree sunshine is hell on earth ;) The point where a home makes sense historically is about 120 X Monthly rent for investment purposes – say 150X allowing for a margin for pride of ownership and all that nonsense.

15 X annual (180X monthly) sounds high to be to be honest – but we can go with that…

A house just sold on my street – more or less the same place as I rent – just with one extra bedroom and a single instead of a double garage. My rent vs buy penciled out to 402 X monthly rent….

Given we are at all time high inventory levels of unsold property I don’t buy the “restricted growth” thing at all.

And everywhere offers “quality of life” depending on what you are looking for – it depends on your own personal compass. If you are a beach going surfer, being trapped in rain 8 months of the year is hell on earth. If you are a translucent skinned Irishman like myself year round 80+ degree sunshine is hell on earth ;)

]]> By: DK http://repdx.com/2008/07/04/no-real-fireworks-in-portland-june-real-estate-activity/comment-page-1/#comment-575 DK Wed, 09 Jul 2008 18:28:09 +0000 http://www.repdx.com/?p=351#comment-575 Git, The article is basing it's findings on renting a two bedroom home in Portland for $757. In my experience (North Portland) rents have risen 20% in the past year to $1100 (single family homes not apartments.) We're a lot closer to price parity for rent vs buy than the article presents, given the 15 times annual rent. By my calculations we're 17 times annual rent. Warranted due to land use planning and projected population growth. Not to mention quality of life. Git,
The article is basing it’s findings on renting a two bedroom home in Portland for $757. In my experience (North Portland) rents have risen 20% in the past year to $1100 (single family homes not apartments.) We’re a lot closer to price parity for rent vs buy than the article presents, given the 15 times annual rent. By my calculations we’re 17 times annual rent. Warranted due to land use planning and projected population growth. Not to mention quality of life.

]]> By: Uncle_Git http://repdx.com/2008/07/04/no-real-fireworks-in-portland-june-real-estate-activity/comment-page-1/#comment-574 Uncle_Git Wed, 09 Jul 2008 16:31:29 +0000 http://www.repdx.com/?p=351#comment-574 Sorry man ;) I think it's definitely worth getting on the ball on the foreclosure / short sale gig. It's not a big part of the market here yet - but I think it will be increasing next year once people notice they are in fact underwater on the mortgage they are struggling to pay. In every market no matter how bad houses are bought and sold - it's all about having the right skills for the current market - I suspect you'll do just fine. Sorry man ;)

I think it’s definitely worth getting on the ball on the foreclosure / short sale gig.

It’s not a big part of the market here yet – but I think it will be increasing next year once people notice they are in fact underwater on the mortgage they are struggling to pay.

In every market no matter how bad houses are bought and sold – it’s all about having the right skills for the current market – I suspect you’ll do just fine.

]]> By: Ron Ares http://repdx.com/2008/07/04/no-real-fireworks-in-portland-june-real-estate-activity/comment-page-1/#comment-576 Ron Ares Tue, 08 Jul 2008 23:54:49 +0000 http://www.repdx.com/?p=351#comment-576 UG, Thanks for brightening a real estate SALESperson's day. :) UG,

Thanks for brightening a real estate SALESperson’s day. :)

]]> By: Uncle_Git http://repdx.com/2008/07/04/no-real-fireworks-in-portland-june-real-estate-activity/comment-page-1/#comment-573 Uncle_Git Tue, 08 Jul 2008 16:21:43 +0000 http://www.repdx.com/?p=351#comment-573 http://realestate.msn.com/rentals/Article2.aspx?cp-documentid=8377648&GT1=35000 Portland made another "top 10" list. http://realestate.msn.com/rentals/Article2.aspx?cp-documentid=8377648&GT1=35000

Portland made another “top 10″ list.

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