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Brad Golik's Blog

By Brad Golik | Broker in Portland, OR
  • So…What is my condo worth?

    Posted Under: Home Buying in Portland  |  December 19, 2012 5:35 PM  |  75 views  |  No comments

    Selling your Portland condo or loft can be very difficult in todays marketplace. The most difficult thing perhaps, is accepting what the value of your home may actually be. When you do decide to sell your condo, you must remember that as a seller you do NOT control your homes value or the market conditions. As a seller, what you DO control is the price that you ask (which may or may not be close to the offers that you will get) and the condition of the property.

    In our previous post, we discussed the benefits of proper pricing. Again, you want to lead the market…not chase it down! Also, keep in mind what current inventory levels are at. Now is a good time to sell you condo or loft because the inventory levels are way down and you may now be able to capture the best price that we have seen for sometime. And remember this… are the inventory levels in my own building high or low. If you live at The Elizabeth Lofts in Portland or The Westerly in Northwest Portland and neither building has many listings, you may be able to push the price a little because buyers who want to be in your building will not have as many choices. On the other hand, if you are living at Benson Tower in Portland or The Gregory Lofts and they both have many units for sale, your competition may force you to price your unit a bit more aggressively to stand out and get it sold. The key words here are “Stand Out”. With hundreds of other units on the market, the most important thing to do when selling your condo is to make it stand out from the others. Call LuxuryCondosofPortland.com to see how we make YOUR condo or loft stand out! ** 503.896.8856 **

  • Portland Condominium Sales for November

    Posted Under: Home Buying in Portland  |  December 19, 2012 5:26 PM  |  71 views  |  No comments

    Portland condominium sales were down for the month of November. For the month of November, in our designated area of coverage from The Pearl District, Downtown to South Waterfront and in the price range of $200,000 and higher, 35 sales closed. Pending sales were also down this month which is not unusual for this time of year. What is unusual is the high number of showings that active condominiums are getting. Part of this could be due to the low inventory levels we are seeing.

    Leading the way in sales once again for the month of November is Atwater Place in South Waterfront and Encore in The Pearl District. Atwater Place and Encore each had 3 sales for the month. For the first time in a while, there were no condos that sold in $1,000,000 and higher price range. This will change next month as there are several $1,000,000 condos that are in a Pending status. 77% of the condominiums sold this month were under the $500,000 range. This will change dramatically next month as we see many more condominiums and lofts above that range in a pending status, including 6 at Atwater Place that Priced from $515,000 to $1,150,000.

    Remember, if you are in the market to buy a Portland condominium, work with a condominium specialist! Why risk what may be one of your largest purchases with an agent that does not fully understand this market? If you are thinking about selling your Portland condominium, why not select an agent that has marketing that is directed towards buyers everyday?

    In our next blog about Portland condominiums we will be discussing Portland penthouses!

    Please visit us at www.LuxuryCondosofPortland.com

  • The Metropolitan Condominiums in Portland…our condo of the week!

    Posted Under: Home Buying in Portland  |  December 19, 2012 5:21 PM  |  73 views  |  No comments

    The Metropolitan

    At 225 feet tall, the Metropolitan is the tallest building in the Pearl District offering sweeping views of the neighborhood, Tanner Springs Park, Jamison Square, The Willamette River, mountain peaks, downtown and the west hills. The unique design of the slender condominium tower allows a majority of the units to be exclusive corner units, maximizing views and daylight for unit owners.

    Situated in the center of the Pearl District, between NW 10th and NW 11th Avenues and NW Lovejoy and NW Marshall Streets, The Metropolitan is adjacent to the newest of three planned parks in the Hoyt Yards neighborhood, Tanner Springs Park, and is on the Portland Streetcar line. The Metropolitan is within walking distance to countless restaurants and shops and just minutes from Downtown.

    The splendor of The Metropolitan includes extensive amenities: a two story travertine and wood clad Lobby, concierge service, club facilities including a lounge with individual wine storage and a wine bar, a library for relaxing and entertaining, an exercise room, conference facilities, and guest suites. The Club facilities also include a second floor roof garden, extensively landscaped, areas for relaxing, for parties and the guest cottage serves a dual purpose as a support space for summer parties. Visit The Metropolitan at www.TheMetropolitanPortland.com

  • Condo of the week…The Henry!

    Posted Under: General Area in Portland, Home Buying in Portland, Home Selling in Portland  |  September 28, 2012 3:02 PM  |  138 views  |  No comments

    The Henry The Henry Condominiums Portland

    The Henry is located on Couch between 11th and 12th. It consists of 123 Condos that
    were built in 2004. This half block includes a retail base of approx. 11,000 sq.
    ft. on the ground floor with three floors of parking above and 11 stories of
    luxury condominiums. Situated in The Brewery Blocks at the entrance to
    Portland’s Pearl District. The Henry Condominiums received gold LEED certification from
    the U.S. Green Building Council, becoming only the third residential building in
    the United States, at the time it was built, to achieve this rating for
    sustainable design and construction. Portland
    in the heart of the Pearl District.
    Location: Pearl District

  • Pearl District Ranks High!

    Posted Under: General Area in Portland, Home Buying in Portland, Home Selling in Portland  |  September 26, 2012 5:35 PM  |  123 views  |  No comments

    Pearl District #5…wow!

    Forbes announces America’s Best Hipster Neighborhoods

    SEE #5

    See the full story and see how neighborhoods were selected.

    The Pearl District
    is known for its art galleries and studios. It also has quite the java culture, with the second highest concentration of coffee shops per capita on our list. Farmer’s markets include the massive Downtown Portland market. Like Williamsburg, gentrification has led to higher costs-of-living in the area, with luxury Portland high rise condos emerging on the streetscape and warehouses converting to massive loft residences.

  • Condo Sales for August

    Posted Under: Market Conditions in Portland, Home Buying in Portland, Home Selling in Portland  |  September 26, 2012 5:33 PM  |  129 views  |  No comments

    August Condo Sales

    August was a very good month in the Portland condo and loft market with sales up 34% over July sales. Once again leading the pack was Encore in the Pearl District and Atwater Place in South Waterfront, both with 5 sales for the month. Two of the Atwater Place sales were resale units. The most remarkable thing about the 55 sales for the month was that only 2 of these sales were bank owned properties and just one was a short sale! With that said, there are currently 24 condos and lofts in the Pearl, Downtown and South Waterfront areas that are in a short sale pending status.

    Buyers continue to find decent deals in the Portland condo market. An example of this can be found in the recent sale of unit at City Lofts. After being way overpriced at $1,100,000, and being on the market well in excess of 400 days, buyers were able to pick up this 2,456 sq. ft. unit for $760,000, more than 30% off its original list price. This shows us two things: 1)There are good buys to be had in the market and… 2) Sellers, don’t overprice your unit when you go to sell it. It will end up costing you more money in the long run!

    At LuxuryCondosofPortland.com we are excited about the market! If you are in the market for a new Portland condominium, give us a call and we will get you out to see everything that Portland has to offer. If you are thinking about selling your condo or loft, again we encourage you to work with a condominium specialist. We don’t believe that an agent can’t just flip on a switch and become an expert in marketing to condo buyers overnight! We have worked hard to create a marketing program that targets serious condo buyers everyday. And, like marketing for any product, the more exposure it gets, the better your chances of getting a higher price!

  • Portland Condo Sales for July

    Posted Under: Market Conditions in Portland, Home Buying in Portland, Home Selling in Portland  |  August 4, 2012 10:01 AM  |  150 views  |  No comments

    July Condo Sales Data

    Condo and loft sales for the Portland area from The Pearl District down to South Waterfront decreased slightly over last month with 41 sales in the +$200,000 market. In July we were expecting more closed sales as there were over 90 that were in a pending status last month. Delays in short sale and bank owned closings are most likely the reason we did not see more. In the upper end market, last month there were no sales in the $1,000,000+ market, this month we had 4!

    Leading the way in condo sales for the month of July was Encore with 6 sales priced from $305,000 to $1,234,500. August should be another good month for Encore Condominiums as they currently have 8 units in a Pending status. Following Encore in number of sales for the month is Atwater Place in South Waterfront with 3 sales and Marshall Wells Lofts also with 3 sales in the month of July.

    The sales of $1,000,000+ condos this month took place at The Casey, The Metropolitan, Encore and the townhomes on Riverscape near Pacifica Tower. 21% of sales this month were in the $750,000 and up market
    Encore Condominiums in Portland Atwater Place CondominiumsMarshall Wells Lofts

     If you are looking to buy a condo or loft in the near future we suggest using a condo specialist!

    If you have plans on selling your Portland condo or loft or know someone who is, we feel our condo and loft marketing program is second to none and we would like to sit down with you and show you our program. After all, condo buyers are smarter than ever and you can no longer afford to have an agent who will just put your condo in the MLS and wait!

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