Having a 33,000 sq ft supermarket next door would have been very convenient during the 3 years I was living at 4th and Montgomery in the CYAN PDX. Luckily for those still there, and those looking to move into the SW Portland/PSU neighborhood, there are plans for a new 15-story mixed-use development on 4th and Harrison currently under design review.
See more here:
This beautifully remodeled Portland Heights home sits next to a 7 million dollar mansion and is priced at $1.3 million. The current owner is a designer and it definitely shows. With 4 bedrooms, a Mt. Adams view, three separate outdoor spaces, and a designer garden, it truly feels like the perfect home. Let me know if you or anyone you know would like to see this old-fashioned Cape Cod style house. It will not be available for long!
The Home Price Expectation Survey, done every quarter by over 100 real estate experts, economists, and investment and market strategists, gives us a good idea of where the experts see the market going in the next 5 years. After averaging out the results of the latest survey, here is what they came up with:
- Home Values expected to go up 4.4% in 2015
- Expected Cumulative Appreciation – 19.3% by 2019
- Even the most pessimistic quartile of these experts expect an 11.7% increase by 2019, while the more optimistic expect an increase of 27.5%.
- Annual growth on average – 3.6% per year
Individual opinions are easy to come by, but surveys such as these provide a well-rounded look at where the experts see the market heading.
REDUCE RENT: With rents rising, many people are forking over 30% or more of their paychecks every month. Moving to a cheaper location, downsizing, or taking in a roommate could drop your rent substantially, which you'll be happy about when you're eventually paying rent to yourself.
AUTOMATIC SAVING: Setting up automated savings contributions with your employer, even if it's only a small percentage, will add up over time while hardly even being noticable in the short-term.
DON'T SPLURGE: The average tax refund in 2014 was $3116 and it's expected to rise in 2015. This year, try holding off on the 70 inch tv and put some of your refund towards your down payment savings.
DONT SAVE FOR RETIREMENT: Just kidding, do that. But if you're already contributing 6% of your paycheck to your 401k and you have an employer match, consider the benefits of putting any additional savings towards buying a home of your own.
ASK: in 2013, 27% of first time buyers received gift funds from family or friends. Under the 2015 annual gift tax exclusion law, it is now legal for any individual to gift $14,000/year tax-free. Have 2 parents? Double that. Throw in a spouse and you've got the ability to receive $56,000 tax-free every year. Might be worth a conversation.