Hasson Company, Relocation
Patrice Kuchulis
Director of
Relocation
Kathryne Psihogios
Senior Relocation
Specialist
NATIONAL REAL ESTATE 2016
• Median Home Price Rose 7.7% to
$228,400
• Highest median home values:
–
–
–
–
–
San Francisco County, CA: $1,048, 166
San Mateo County, CA: $1,021,667
Marin County, CA: 1,009,308
Nantucket County, MA: $983,597
Santa Clara County, CA: $922,511
• 3.8 months to exhaust current
inventory
HOTTEST MARKETS
End of 2016
• Seattle prices rose 10.8%
• Portland prices were up
10.0%
• Denver saw increases of
8.9%
How Does Portland Compare?
Metro
Monthly change
12-month change
Atlanta
0.2%
6.3%
Boston
0.6%
6.3%
Charlotte
0.1%
5.6%
Chicago
0.5%
4.9%
Cleveland
0.4%
4.4%
Dallas
0.2%
8.1%
Denver
0.1%
8.9%
Detroit
-0.2%
6.2%
Las Vegas
0.3%
5.8%
Los Angeles
0.3%
5.4%
Miami
-0.1%
6.8%
Minneapolis
-0.1%
5.7%
New York
0.4%
3.1%
Phoenix
0.2%
4.9%
Portland
0.3%
10.0%
San Diego
0.2%
5.4%
San Francisco
0.1%
5.7%
Seattle
0.6%
10.8%
Tampa
1.1%
8.4%
Washington
0.5%
4.2%
PORTLAND METRO
REAL ESTATE
For Sellers
LET’S COMPARE
January
2012
September
2014
January
2016
March
2017
Average
Sale Price
$249,100
Average Sale
Price
$338,100
Average
Sale Price
$355,500
Average
Sale Price
$428,400
Median
Sale Price
$207,500
Median Sales
Price
$289,900
Median
Sales Price
$310,000
Median
Sales Price
$370,000
Marketing
time
136 days on
market
Marketing
Time
60 days
on
market
Marketing
Time
57 days on
market
Marketing
Time
58 days on
market
Months of
Inventory
7 Months
Months of
Inventory
3.1
Months
Months of
Inventory
1.8 Months
Months of
Inventory
1.3 Months
Median Avg:
$446,362
History of Yearly Real
Estate Pricing Portland Metro Area
Average
appreciation from
1979-2015
5.08%
TOP STATES IN & OUT 2016
MOVING IN
1. South Dakota
2. Vermont
3. Oregon
4. Idaho
5. South Carolina
6. Washington
7. District of
Columbia
8. North Carolina
9. Nevada
10. Arizona
MOVING OUT
1. New Jersey
2. Illinois
3. New York
4. Connecticut
5. Kansas
6. Kentucky
7. West Virginia
8. Ohio
9. Utah
HASSON TOP AGENTS REMARKS
• MARKET FRANTIC /RED HOT!!
•
$250,000 - $700,000
BUYERS HAVING A HARD TIME ADJUSTING
– SOMETIMES LOSE ONE OR TWO BEFORE WINNING BID
– WAIVING APPRAISALS, INSPECTIONS, ETC…
– MUST BUY WHAT’S AVAILABLE VS. DREAM HOME
– STICKER SHOCK
– SOME RESORTING TO RENTING
– RENTERS JUMPING INTO BUYING
• LOTS OF EDUCATION NEEDED/INFO ON GOOGLE OFTEN NEEDS
CLARIFICATION
•
Rent Increase
Expectations
Nationally 1.7%
•
Seattle 7.2%
•
Portland 6%
•
Denver, Cincinnati and San Francisco close
behind
•
San Jose/San Francisco/Manhattan most
expensive
•
Portland lower than
•
Challenges expected to continue
•
Rents will go up on Single Family due to lack of
inventory
most West Coast Cities
Pearl/Downtown/NW
•
Some Pearl projects upward of $3 sq.ft.
•
One bedroom $1550 - $2500
•
Two Bedroom $2500 - $3100
•
Increases expected over the Summer for 2
bdrm.
•
Nob Hill (Older Vintage) $2 - $2.50 sq. ft.
•
Parking – Average $175 - $195 (one only)
•
Offsite a few blocks away in City lot = $220+
•
Permit parking increased to $180 per month
(tripled in April)
SUBURB RENTALS
Big Increases
• One Bedroom
average
(newer) $1300 - $2100
– Hillsboro has especially gone up
– Older units $980 - $1280
• Two Bedrooms (newer) $1550 - $2425
average
– Older Units $1285 -
$1750
Rent vs. Buy
RENT
• No Mortgage Int.
Tax Deduction
• Rent Increases
• Decorate?…ask
permission
• No Appreciation
• Vacate notices
• Paying down
landlords mortgage
BUY
• Mortgage Int. &
Property Tax
Deduction
• Mostly fixed payments
• You are landlord.
Decorate!
• Forced savings
account & value
increases
• Not at mercy of
landlord
• Paying down your own
mortgage
How Rent Adds Up
If
rent
is:
$1,500
1 Year
5
Years
10
Years
15
Years
$18,000
$90,000
$180,000
$270,000
Mortgage/Interest
Rates Rates
• Currently 4.125% with
1 point
– Credit scores above 700 (Ave. 680)
– Changing daily
• Conforming up to $424,100
(Conventional)
• Over $424,100 is Jumbo loan also at
4.25% with 1 point
• Rare 100% financing with VA and USDA
loans
• FHA 3.5% down. Loan limit
$408,250 currently 3.75% with 1
point
Openness
White with Wood
Messy Kitchen
Barn Door Playrooms
Fireplace Moves to
Kitchen
Matte Finishes
Booths Trendy
Wallpaper is back
Low Cost Luxury
Control Your Home Anywhere
Storage
Private Toilet Spaces
THANK YOU
PATRICE KUCHULIS & KATHRYNE PSIHOGIOS
HASSON RELOCATION
[email protected]