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Sep 14 2018

Homing in on Portland’s neighborhood housing markets – They’re not easy to track but here’s your guide to Cedar Hills and a leg up on the rest of the west side

Portland Business Journal tracks the Metro area’s hottest zip codes quarterly

The Portland Business Journal has good news for lots of homeowners on Portland’s west side. The zip code 97229 (Forest Heights, Bethany, Cedar Mill) continues to be one of the Metro area’s hottest neighborhoods and 97225 (Cedar Hills & Raleigh Hills) broke into the ranks of the top 10 in the 1st quarter of this year.

I feel fortunate to have had a front row seat on the trends. I recently listed homes in the areas (two in Cedar Hills and one in Cedar Mill) and repped buyer clients in the sale of a 4^th in Cedar Mill. On average, the three listings sold in 2.3 days at 99.5 percent of asking price.

One of my Cedar Hills listings – a detached home at 11445 SW Lynnvale Dr

I aim to be a realtor of choice for area residents. So last month I created a quarterly newsletter on real estate activity in Cedar Hills. Market data is readily available for cities, towns and zip codes. But that’s not the case for neighborhoods, though they’re probably a more meaningful affiliation for most people.

So my work was cut out for me. I did my best to copy by hand the intricate boundaries of Cedar Hills from the map published by its homeowners association in a small search window on the Regional Multiple Listing Service (RMLS) website. I decided to include two small islands surrounded by the neighborhood (Forest Hills Village and Lynnridge) and two areas on its fringes (Belvidere and 2015-13 Partition Plat). I delivered or mailed Homing in on Cedar Hills to about 300 homeowners and linked it to a Facebook ad for digital access.

While working on the newsletter, I consulted Q2 neighborhood rankings for context. I wondered if 97225 had kept its spot among the top 10. But it proved impossible to track that trend because at the time Portland Business Journal published the so-called “Heat Index” – overall rankings based on equal weighting of volume of sales, speed of sales, and average sale price – only in the 1^st and 3^rd quarters of the year.

I reached out to Brandon Sawyer, the journalist on the hottest neighborhoods beat, to ask if he could share the info and to suggest that the Heat Index be published every quarter. He not only obliged on both counts, but wrote me into his August 21 article.

It turns out 97229 and 97225 slipped in the overall rankings, taking 6^th and 29^th place in Q2. Still, not bad. And 97225 took 7^th for average sale price – 2 places ahead of 97229.

If I can answer any questions about your neighborhood market or you’d like to “subscribe” to Homing in on Cedar Hills, dear readers, drop me a line (cquoyeser@bhhsnw.com/503-705-5725). The next issue comes out in October and I’m thinking of launching a counterpart for Cedar Mill.

My wall house listing at 11470 SW Lynnvale Dr

My Cedar Mill listing at 9883 NW Nottage Dr

Jun 22 2018

Buy your ideal home in Portland or CIY (create-it-yourself)? Lay solid groundwork for your decision with these expert remodeling tips

Portland Metro regularly lands on top 10 lists – for home price gains, creativity, livability, job growth, public health, green-ness, bike-friendliness, gentrification, and more. Did you know it’s also #8 for residential remodeling?

And no wonder. A full 80 percent of area homes were built before 1980 compared to the national average of 52 percent. So they’re bound to need some TLC.

Meanwhile, the inventory of homes for sale stands at 1.9 months – about half the national average – and has not broken 3 months in over 3 years. Our lopsided seller’s market limits choices all around. Buyers can’t be too picky and would-be sellers may decide to stay put because they can’t find – or can’t afford – replacement homes.

Click here to read this ORLive story about Contractor of the Year award winners. Beaverton’s Cornerstone Builders remodeled the 1970’s daylight ranch shown.

But every challenge is also an opportunity. If you’re willing to remodel, you can add priceless character and comfort to your home as well as dollar value. This post offers advice from experts – 8 questions and 2 tips, to be exact – for the planning and decision making phase of remodeling. That’s when realtors can be of most help.

Q 1: How long do you expect to stay in your home?

As a rule of thumb, you should plan to stay in your home at least 5 years after a significant remodel – say 15 percent of your home’s “before” value. Since home improvements never offer a 100 percent return at resale, you should give yourself plenty of time to enjoy their other benefits.

Click here to read a Sunset story about how interior designer Vicki Simon restored the kitchen of her 1908 Kenton home. If she ever moves, she’s taking the kitchen with her! (Photo: Lincoln Barbour)

Of course, if you plan to sell in the near term, modest improvements will boost the price and speed of sale. De-cluttering, deep cleaning and yard work can cost no more than your time and offer some of the very best returns. Ask a realtor to walk through your home and make suggestions.

Q 2: Can your biggest pain points be soothed? Can your pride and joy be matched?

In deciding whether to move or remodel, review the best and worst features of your home. If the best can’t be replaced, you’ll likely want to stay put. If the worst features can’t be changed or call for major structural work (big ticket items like moving walls or expanding the footprint), a move is probably the thing.

Q 3: What’s the ballpark cost of your remodel wish list?

Your review of your home’s best and worst features will guide you in creating a wish list. Magazines and books can help too. If you’re leaning toward remodeling, you may also want to invest in a 1-off design consultation for a modest set fee. Many interior designers offer this service.

Next you’ll want a rough cost estimate of your wish list. Here are three good resources for this exercise:

Each year, Remodel magazine publishes the Cost vs. Value Report. It compiles average costs for 21 common projects in 149 markets around the country and compares them to project value at resale. You can access the 2018 report for Portland Metro here.
The National Association of Realtors has published a similar report. It features some projects not included in the Cost vs. Value Report (a plus), but the data isn’t broken down by locality (a minus).
Home Advisor’s True Cost Guide doesn’t provide information on resale value (a minus), but can help you track down local contractors and costs (a plus).

Remember to add a contingency fund of 10-20% to your estimate for unexpected costs.

Click here to read a Gray Magazine story about a busy PDX single who hired Atomic Design to convert the unfinished attic of her 1893 home into a master suite (Photo: Mhari Scott)

Q 4: Can you afford your wish list?

With a rough cost estimate in hand, you can decide whether your wish list is affordable. How much do you have in savings or can you access in credit and what do you feel comfortable spending? Click here for a good overview of ways to fund a remodel and the pros and cons of each.

If you find that your wish list is beyond your means, you can pare it down, crossing off items that will have the least impact on how you experience your home. For example, if your kitchen is 50 years old and functionally obsolete, a major remodel is money well spent. But if changes made 20 years ago are good quality but not to your taste, then a minor remodel is best. Rather than replacing cabinetry, for example, you can replace or repaint cabinet doors and pulls.

Click here to read this Portland Monthly article about a couple who worked with architect Risa Boyer Leritz to transform their vintage split level in Raleigh Hills (Photo: Aaron Leitz)

Q 5: How does the cost of remodeling a given room compare to its value as a percent of your home’s overall value?

Answering this question can also help you to trim your wish list. The bullets below show the values of specific rooms or areas as percentages of a home’s total value according to an appraisers trade association. Suppose you’re thinking of a mid-range major kitchen remodel as defined in the latest Cost vs. Value Report for Portland (see Item a under Q3). Since the average cost for the project is $66K, your current home value should be at least $440K to justify the expenditure. ($66K is 15 percent of $440K.)

Kitchen: 10-15% of a house’s value
Master bedroom suite: 10% of a house’s value
Powder room/bathroom: 5% of a house’s value
Finished attic or basement: 10-15% of a house’s value
Other rooms: 1-3% of a house’s value
Patios, decks, paths and plantings: 2-5% of a house’s value

Click here to read an Arciform blog post about 5 of the firm’s favorite kitchen projects

Q 6: How does the total estimated cost of your wish list compare to the current value of your home?

Unless money is no object, you’ll want to weigh the total cost of your wish list against the current value of your home. Assuming you’ll stay put for at least 8-10 years, your list should not exceed 30 percent of its value. Spend more and you’re unlikely to recoup your investment.

Q 7: How does the estimated value of your improved home compare with the rest of your neighborhood?

No home is an island, so in addition to answering Q6, you’ll want to weigh the value of your remodel against upper price limits in your neighborhood.

Add estimated costs to the current value of your home. If the total is more than around 20 percent over the highest recent sale prices for nearby homes that resemble yours after planned improvements, you run the risk of overspending and getting a disappointing return at resale – even if you intend to stay for 8-10 years.

Click here to read this Sunset story about a couple who asked Van Giuiletti/Schouten Architects to give their Lake Oswego home a facelift and major curb appeal (Photo: John Clark)

Q 8: With the cost of moving?

Answers to Q5-7 will help you set a cost ceiling for each room or area and for the remodel as a whole. But they won’t tell you how staying put compares to the cost of moving into a new home. Click here for an online calculator designed for this second task.

A little market research is needed before you use it. You’ll want to search active listings with the features and locations you must have to motivate you to leave your current home. Average list prices for your top 3 choices and you’re ready to fill in the “Home Price” blank on the “New Mortgage” side of the calculator. Your realtor can also help you with transaction costs, property taxes and other blanks on the right – in addition to providing an estimate of your home’s current value on the left.

If, having answered these 8 questions, you decide to remodel, consider these two pieces of advice.

Click here to read this Oregon Home article about a Beaverton couple who updated their Rummer home with the help of Garrison Hullinger Interior Design

Tip 1: Invest in good design

I’m never surprised when homeowners on HGTV’s Love It or List It choose Hillary’s artful remodels over moving to houses that may be bigger but lack personality and charm. Good or great design provides daily pleasure, ease and well-being to you and your family, and can attract multiple offers when you’re ready to sell.

Design services come in 3 main forms. The traditional model is a full-service architect or designer who crafts the entire plan, solicits bids, and oversees the work of a contractor or contractors. You can also hire design services a la carte for key aspects of the overall plan. A third and increasingly popular option is a design-and-build firm. For example, local success story Neil Kelly is #3 on Remodeling magazine’s list of the biggest firms in the country. Click here for a good overview of the 3 options and the pros and cons of each.

Click here to read this Apartment Therapy story about a former Nike Design Director who acted as her own general contractor to bring her 1906 home in SE PDX back to life (Photo: Heather Keeling)

Tip 2: Remodel for spaciousness (not necessarily space), more natural light and a better connection to the outdoors

Even a small house can feel spacious – and provide pleasure, comfort and well-being – with an open plan layout, lots of natural light, and a strong connection to a well-tended garden or view. In fact, realtor.com has assembled a trove of national data on home features linked to the highest rates of appreciation. Homes with open plan layouts and patios top the list, with average annual appreciation of 7.4 and 6.8 percent respectively.

Click here to read this ORLive story about a handy owner who worked with an architect on a limited budget to make the most of a 1098 SF cottage in Woodlawn

Not surprisingly – since they typically have open plan layouts, large windows or glass walls, and strong connections to the outdoors – modern or contemporary style homes appreciate the fastest at 7.7 percent.

And supporting the idea that spaciousness rather than space is key, realtor.com’s research shows that smaller homes with fewer bedrooms appreciate faster than larger homes with more bedrooms – by a factor of 2 at opposite ends of the spectrum.

Mar 04 2018

Homing in on Beaverton now – 5 ways you may still be underestimating this west side ‘burb

Suburbs often get a bum rap. Especially in the Portland Metro area, the usual stereotypes – sleepy, homogeneous, isolating, and stodgy – may not hold up. Take Beaverton, for example. Granted, it’s an incorporated city and has been since 1893. But in the Metro context, it’s a de facto suburb of Portland. Here are 5 ways this west side community defies stereotypes.

Want to see Beaverton homes for sale? Click here for 3BR+/2BA+ priced $500K and up

1. It’s not a “bedroom” community

With a population of about 97,000, Beaverton is home to one of 3 Fortune 500 companies based in Oregon. An engine of growth and creativity, Nike draws people to its corporate campus from around the Metro area, the country, and the world. Just a stone’s throw away, Tektronix is also a top local employer. So Beaverton is a place where Metro residents sleep and work. There’s plenty of life in the city throughout the day.

2. It’s not WASP-ville

In ranking Beaverton #12 on its 2017 list of the top 100 places to live in America, Money cautioned readers not to think of it “as just another cookie-cutter suburb.” The magazine cited its lively restaurant scene and one of the most ethnically diverse populations in the Portland area. (The two are probably linked.)

People of color account for 51.3 percent of Beaverton School District’s population and constitute the majority in a Census tract surrounding the Terpenning Recreation Complex on Walker Road.

Want to see Beaverton homes for sale? Click here for 3BR+/2BA+ priced $500K and up

The whole lifestyle in Menlo West (97005)

3. It supports public spaces…and community

Historically, suburbs have been seen as green havens from crowded cities. Big houses on big lots are private parks of a kind. But Beaverton is just as committed to preserving public green spaces as its much bigger neighbor to the east. It has 30 miles of hiking trails, a 25-mile network of bike paths, and 100 parks covering 1000 acres or one within a half mile of every home. The city partners with the Tualatin Hills Parks & Recreation District to offer classes and activities in 8 swim centers, 6 recreation centers and green spaces.

In summertime, for example, families congregate in City Park. Its fountains cool off kids, the adjoining parking lot is home to a farmer’s market, and the gracious City Library is just across the street.

Mugo pines – Rummer admired Japanese landscape design

3. Its real estate market is among the hottest in the Metro area

There’s nothing sleepy about Beaverton’s housing market. It looms large in the “hottest ‘hoods” rankings compiled by Portland Business Journal. Metro area zip codes are tracked against three criteria: 1) volume of home sales, 2) speed of sales and 3) average sale price. The three measures are then weighted equally to determine the hottest overall.

Want to see Beaverton homes for sale? Click here for 3BR+/2BA+ priced $500K and up.

At $436,400 in January of this year, the average Metro sale price is almost 19 percent higher than Beaverton’s, which stood at $367,600. While keeping it out of the top ranks for that measure, the city’s affordability attracts buyers. So it’s well-represented across 3 of 4 categories for 2017.

Volume of sales	Speed of sales	Average sale price	Hottest overall
#3 – 97007 #9 – 97006	#1 – 97006 #3 – 97003 #5 – 97005 #25 – 97007	N/A	#8 – 97007 #11 – 97006 #21 – 97008 #27 – 97003 #39 – 97005

Beaverton also stands out among the “most in demand” neighborhoods tracked by OregonLive. The number of homes for sale at the end of December are compared to how many sold during the last quarter of the year. Zip codes within or crossing the city’s boundaries claimed 5 of 15 top spots in 2017.

#1 – 97008
#5 – 97005
#7 – 97006
#9 – 97007
#10 – 97003

Some backyard! Taliesen Park flanks the Rummer enclave in Hyland Hills

5. It has a large share of the Metro area’s edgy Rummer homes

Though some neighborhoods have a uniform look and feel, there’s a lot of variety in Beaverton’s housing stock, especially in the city center (97005). And it’s home to many examples of an experiment with affordable Mid-Century Modern design that has stood the test of time. Named after the local developer whose wife admired California Eichlers and encouraged him to build spin-offs in Portland, Rummers are distinguished by:

Exposed vertical posts supporting exposed horizontal beams
In turn, sturdy post and beam construction supports an asymmetrical mix of flat and pitched roofs, vaulted ceilings, and floor-to-ceiling windows – with little help from interior walls
Open plan layouts oriented to atriums and the backyard
“Buttoned-up” facades that have no picture windows or porches
Clean lines and minimal orientation

Vista Brook (SW 84^th to SW 87^th off Garden Home Rd in 97223) is said to have the most Rummers of any neighborhood in the Metro area. But with 4 Rummer enclaves, Beaverton may have more of these homes than Portland.

Oak Hills neighborhood just north of Highway 26 (97006)
Denney-Whitford just east of Highway 217 along SW 105^th (97008)
Menlo West along SW Bonnie Brae St and Ct (97005)
Hyland Hills north of Hart Rd along SW 130^th Ave (97008)

In doing the research for this posting, I came across an anecdotal report that Nike creatives are overrepresented among Rummer homeowners today. It doesn’t surprise me. I also walked the 4^th enclave, which consists of 3 large cul-de-sacs flanked by Taliesen Park. Donated by Rummer when he built the development in 1966, its 1.5 acres are home to towering Doug Firs – quite the backyard.

It also doesn’t surprise me that Rummers – though very affordable for Modernist architecture – command a premium in the marketplace. Back at my desk, I discovered that they have sold for about 30 percent more than other homes in the Taliesen neighborhood over the past 3 years and about 5 times faster, averaging just 6 days on the market (DOM).

All in all, Beaverton is a pretty good place to call home.

Want to see Beaverton homes for sale? Click here for 3BR+/2BA+ priced $500K and up

Feb 01 2018

If it’s Tuesday this must be broker tour – An inside look at Portland’s best “Hemenway Colonial”

Every Tuesday, Portland Metro realtors open the doors of newly listed homes to other members of the trade. The idea is to attract agents with clients looking for a property like the one on tour, and to offer the chance to preview it. I don’t have any buyers with a $3.75 million ceiling at the moment, but I was excited to see 2728 SW Greenway Ave on this week’s west side tour list.

According to the Oregon Historical Society, the house is one of the finest examples of Roscoe Hemenway’s work. A graduate of Grant High and the U of O’s School of Architecture, Hemenway designed some 300 buildings over his 36-year career in Portland. He became best known for homes in the Colonial Revival style.

Dunthorpe neighborhood has the most “Hemenway Colonials.” But as I say, Portland Heights has the best. Built in 1951 on two-thirds of an acre, 2728 Greenway bears all the hallmarks of the style. Well-screened from the street by thick shrubs and tall trees, the façade – and its key architectural elements – are shown in the exterior photo.

Inside is just as grand. The house runs to over 12,000 square feet with 6 bedrooms, 5 full baths, 2 half baths, 3 stories, a home theater and library/bar on the top floor, a wing for live-in staff served by back stairs, and an elevator. The master suite is the size of an average 1-bedroom apartment (625 SF). The living room is the size of a small starter home (1000 SF). And at $58K per year, property taxes are also outsize – just $10K less than the average Portlander’s annual income. Utility costs must be formidable too. Newly required as part of the city’s effort to reduce its greenhouse gas emissions by 80 percent by 2050, the energy score for the house is 1 on a 10-point scale.

Dentil moulding & doorway pediment in the dining room

Back at my desk, I wondered who lives in such luxury. The owner is normally shown on the listing, but not in this case. So I looked up the tax report for the property in the Regional Multiple Listing Service. Turns out, he is just as prominent in today’s civic life as the architect was generations back.

Co-founder of the ad agency that began as a start-up and is now a global brand in its own right, Dan Wieden has called the property home since 1993, when he bought it for $1.225 million.

Industrial style with wildly creative touches – PDX office of W+K

It’s a far cry from the Wieden+Kennedy headquarters in the Pearl – a once abandoned 1908 warehouse with an atrium carved out of its middle, modern industrial finishes, and some wildly creative touches. But the two buildings have historic character (and preservation) in common. As the listing notes, the house has been “meticulously cared for.” Still a young 67, it may eventually join the warehouse on the National Register of Historic Places.

For now, 2728 Greenway needs a new owner. A 25-year appreciation of 300 percent seems reasonable, but it will be interesting to track the listing, which is on my RMLS watch list.

Postscript: As I was putting the finishing touches on this blog post, OregonLive published an article about the house. You can read Janet Eastman’s take here.

Sep 20 2017

The clincher – hubbub around last blog post shows power of Oak Hills spirit, which spans neighborhood and generational boundaries

Wow! My last blog post about the new recreation center in Oak Hills broke all records. Here are the numbers:

Unique views of the post to date: 1,492
Views in a single day: 244
Reach of Facebook ad promoting the post: 11,618
Engagement with the ad: 57 likes, 9 comments and 11 shares
Registrations on my website to view homes for sale in the area: 12

I’d like to think it was the verve of my prose. But I have to credit the vitality of the neighborhood. Current residents probably felt a spark of pride. And past residents voiced nostalgia for their old homes and neighbors.

One member of a select group (fiercely loyal 2^nd generation residents) corrected me on the western boundary of the neighborhood. I still haven’t been able to find a definitive answer to the question of whether Oak Hills as a whole – or just its historic district – ends at Bethany Blvd.

It was a kick to see the Facebook ad become a virtual meeting point for relatives and long-lost friends. Even folks with 3^rd generation ties to the neighborhood chimed in. Grandchildren of a former resident asked each other about old photos of grandpa’s house on Oakmont Loop in the early 80’s. One has vivid memories of the rocket ship on the community playground and was happy to learn that the Homeowners Association is raising funds to rebuild it.

“The rocket ship found its way into many of my dreams,” she wrote via Facebook Messenger. “It seemed to reach the sky!”

The person with the oldest direct tie to the neighborhood – extending at least as far back as 1967 by my estimate – grew up there and attended Sunset High. His parents bought the 12^th house built in Oak Hills.

Want to see 1-level homes for sale on the west side? Click here

The bravest of those who commented on the Facebook ad agreed to meet me for coffee at Ava’s Roasteria in Timberland Town Center. Ronnie Augustynovich and her husband Ron raised a family in the neighborhood for 10 years before moving to their current home in Cedar Mill in 1992. She remembers eyeing Oak Hills when she and Ron first moved to Portland from Ohio. Though she was sold on the area, most properties went for about $10K over their maximum budget. That may sound like a small hurdle. We both laughed when she explained that the average sale price in Oak Hills was just $50K at the time.

Years on when they no longer needed a bargain, they happened to find one with the right layout – a foreclosure on Perimeter Dr with 5 bedrooms and an office on one level.

“It had purple shag carpeting and was a mess,” she remembers.

Ron promised Ronnie that it could be renovated into their dream home. And that’s what happened. In fact, he now says it was a mistake to leave since their current 2-story has no master on the main.

Want to see 1-level homes for sale on the west side? Click here

The rec center and youth swim team proved to be the family’s best entry point to Oak Hills. Ronnie remembers competitions in Toledo (OR), Junction City and at the Sunset Athletic Club. She cheered tirelessly for her son and daughter and their teammates from the sidelines.

See yourself or someone you know in this photo from the 80’s? If so, comment!

But Ronnie has always been much more than a spectator in life. A crackerjack secretary with a typing speed of 120 words per minute and shorthand of 80 words per minute, she worked for many years in Beaverton School District at Ridgewood Elementary and Meadow Park Middle School. She also found time to coach a girls’ soccer team in Oak Hills. Believe it or not, one of her players – now grown up and with a toddler in tow – visited Ava’s during our interview.

Back then the pool was 40 yds and had 4 lanes

Ronnie also served on the Board of the Homeowners Association. Asked about the issues of her day, she mentions speeding cars. The Board responded with a homespun public safety campaign in the Oracle, the newsletter that still serves the neighborhood.

With so many happy memories of the rec center, Ronnie was concerned about talk of getting rid of the pool toward the end the family’s time in Oak Hills. She and Ron visit the neighborhood now and then to walk their dogs and are impressed by the rebuild.

“It’s still a great place to live and raise kids,” she says.

Want to see 1-level homes for sale on the west side? Click here