Tuesday, July 31, 2018
Monday, July 30, 2018
This week: the Portland City Council has created a housing registry landlords of one or more units; Metro council staff released the draft 2018 Urban Growth report and a recent survey finds growing frustration between Seattle landlords and their City Council.
Thursday, July 26, 2018
For additional information about the sale of this property, please contact an HFO broker at (503) 241-5541.
Seattle/Tacoma/Belevue's metro area vacancy rate was listed at 4.1%, down from 4.7% a year earlier.
Average National Rental Vacancy Rate
The average national rental vacancy rate for Q2 2018 was 6.8 percent for multifamily dwellings of five or more units -- 0.5% lower than one year earlier, despite ongoing delivery of multifamily units throughout the national market.
Year-over-year vacancy rates in the Western U.S. decreased, from 6.0.7% to 5.1%.
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After falling to a 26-year low in 2016, homeownership rates nationally have begun to increase. The current homeownership rate in the West were flat at 59.7%.
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Wednesday, July 25, 2018
Tuesday, July 24, 2018
Monday, July 23, 2018
Ethan Seltzer, Emeritus Professor of the Toulan School of Urban Studies and Planning at Portland State University responded with an opinion piece. Seltzer previously served as President of the City of Portland Planning Commission and the Land Use Supervisor for Metro, the regional government.
Read the story.
Olympia Washington's planning commission recommends city-wide zoning changes to encourage more "missing middle housing;" Oregon's property tax limits are criticized by DC-based Center for Budget and Policy Priorities for forcing cities and counties to charge fees disproportionately impacting the poor...and Portland Mayor Ted Wheeler claims the city is making progress on the issue of homelessness.
Friday, July 20, 2018
HUD Report Cites Land Use Regulations, Permitting Processes, and NIMBYism as Barriers to Producing Affordable Housing
Thursday, July 19, 2018
Wednesday, July 18, 2018
Tuesday, July 17, 2018
Monday, July 16, 2018
This week: The possibility of oversupply in the Portland market has developers feeling jittery; Portland's planning commission endorsed a new zone that mobile home park residents hope will save them from redevelopment; and a new study indicates that if Americans want European levels of density, they will need to choose between single family and high rises, or streets dominated entirely by mid-rise buildings similar to Berlin and Paris.
Thursday, July 12, 2018
The property was managed for occupancy rather than cash flow, and rents trailed the market. HFO Investment Real Estate positioned the property as a value-add opportunity and worked with a number of interested parties selected due to their value-add experience. For additional information about this recent sale call an HFO broker at (503) 241-5541.
Wednesday, July 11, 2018
County vacancy rates for the following counties were reported as follows:
Chelan/Douglas - 1.1%
Clark - 2.1%
Cowlitz - 1.2%
Kitsap - 3.6%
Kittitas - 0.7%
Skagit - 0.9%
Snohomish - 4.0%
Spokane - 1.3%
Thurston - 3.7%
Walla Walla - 1.7%
Whatcom - 1.3%
Whitman - 2.4%
Yakima - 0.8%
Tuesday, July 10, 2018
Center Square was managed for occupancy rather than cash flow, and rents trailed the market. HFO Investment Real Estate positioned the property as a value-add opportunity and worked with a number of interested parties targeted because of their value-add experience. For more details on this sale contact an HFO broker at (503) 241-5541.
Monday, July 9, 2018
Attorney Andy Hahs offers details of the City of Portland's relocation fee program. Hahs also covers potential issues with the City of Portland's draft tenant screening plan. Hahs is a partner with Bittner & Hahs, P.C. He has decades of experience in landlord/tenant law.
Friday, July 6, 2018
HFO successfully met the challenge of locating a buyer who could meet the seller’s closing expectations and specific closing deadline. HFO also helped the buyer source additional funds, so the original timeline was maintained. For additional information on this sale contact any HFO broker at 503-241-5541.
Tuesday, July 3, 2018
The buyer went non-refundable with earnest money early in the lease-up process—successfully closing as soon as the property reached lender-required occupancy levels. For more details on this recent sale contact a broker in our office at (503) 241-5541.
Monday, July 2, 2018
This week: The Zidell family calls it quits for now on developing 33-acres on the South Waterfront; Portland posts top gains in educated adults, and hundreds of both luxury condos and 250-square foot microunits are--or soon will be--under construction in Portland.