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Rate Your Cap Rate Knowledge
By Tim O’Brien
What is a cap rate? It is simply the net operating income (NOI) of the property (before any debt service) divided by the price and it equates to a percentage rate of return if the investor were to purchase a property with no debt (all cash). (more) |
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Current Developments in Like Kind Exchanges
By Toija J. Beutler, Esq.
SVP/NW Regional Manager
Investment Property Exchange Services, Inc.
It is an interesting time in the like kind exchange world. Enacted in the early 1920’s the technique was virtually ignored for decades. (more) |
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Renters will pay more to live in well-managed apartment communities
Results from a recent J.D. Power & Associates opinion survey in four different US cities showed that a sense of community in an apartment complex was the #1 reason renters chose where to live. (more) |
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Gresham City Council Passes Rental Inspection Program
A program of random apartment inspections is expected to begin in Gresham early next year. The inspection program will operate in conjunction with a confidential complaint-driven process. (more) |
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New Tax Preparer Law Affects 1031 Transactions for 2007
Effective with 2007 tax returns, tax preparers will be required to make certain disclosures on a client’s return if they have knowledge (or reason to know) that the taxpayer is taking a high-risk tax position. (more) |
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Despite Sub Prime Problems --
No Serious Concerns For Apartment Buyers
Recently the media has been writing a lot about the “sub prime mortgage meltdown” “tightening of the credit market” and the resulting “liquidity crunch” While these issues are serious for single family residences and condos, the effect has been greatly exaggerated for those of us in the Oregon and SW Washington apartment market. (more) |
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Gresham apartments face mandatory inspections
Owners wince at a plan to review rentals the city says would protect residents
Tyler Graf of the Daily Journal of Commerce provides the latest update on the proposed Gresham inspection program. (more) |
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Click here to read the DJC Story |
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Portland Leading in West Coast Rent Growth
As of June 30th, Portland is one of four Metropolitan Statistical Areas (MSAs) leading in West-Coast rent growth along with Seattle, San Jose, and San Francisco, as reported by the California-based research firm Realfacts. (more) |
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AP Reports: Apartment Rents Soar With Demand
As printed in The Oregonian
June 19, 2007 - The AP story begins: Apartment dwellers throughout the western United States are facing the biggest rent increases in years as more people vie to lease units amid a strong job market and feeble home-buying market, according to a survey to be released Thursday. (more) |
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New Mandatory Income Tax Withholding on Real Property Sale in Oregon
By Colleen Moss & Anne Creasey
On July 31, 2007 Oregon Governor Ted Kulongoski signed House Bill 2592 requiring mandatory withholding of income tax when selling Oregon real property interests unless a Certificate of Exemption is filed. (more) |
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Surge of Renters Expected
Stricter Home Financing On the Horizon
Loan standards on single-family houses are
expected to tighten up this fall; which could lead to a
wave of new renters in the market.
When you look back, you may soon fondly remember
the days when it was really easy to get a home loan. (more) |
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HB3186 Signed By Governor, Takes Effect Jan. 1 2008. (Click here to read our news summary.)
LEGISLATIVE UPDATE
Another Nail in the Coffin of the Condo Craze?
As you know, HFO has been actively involved in selling
of apartment properties, some of which have been
converted to condominiums. (more) |
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Click Here to Read the Full Text of This Bill |
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Apartment Market: The Energizer Bunny?
The energizer Bunny, “It keeps going, and going and going...” The Portland/Vancouver Apartment market in terms of sales values and volume looks to do the same in 2007. The total Apartment sales volume in the Portland/Vancouver market in 2006 will be close to $850 million. (more) |
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2007 National Apartment Industry Outlook: Strong
The National Apartment Association reports in its 2007 Apartment Industry Outlook that Portland will be one of the top U.S. apartment growth markets for 2006-2030 as a “lifestyle city” along with Phoenix, Tampa, South Florida, San Diego, and Minneapolis. (more) |
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Multi-Housing News Reports: Portland is the Place to Be! December, 2006
In its December edition, the Multi-Housing News Market Report highlighted Northern California and Portland as Golden Opportunities. Among other things, the article highlighted Portland's tightening vacancy rate. (more) |
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Click here to read the full story |
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Rental Starts Across the US Poised to Grow
The National Apartment Association reports that rental starts across the country are poised to grow in 2007 as the condo market eases. Robert J. Sheehan wrote in an article for Units magazine, that the number of rental starts in each of the past three years has remained right around 345,000 units. (more) |
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Recent Condo Conversions - August, 2006
Three vintage 1909-1929 bricker apartment buildings sold recently to three different developers for $3.5 million. The three properties, comprised of 40 units, were owned by the RKM Trust. (more) |
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First Quarter Apartment Trends - June, 2006
Portland continues to be a bargain for apartments in terms of price-per-unit cost.
For the West coast, the average price per unit the first quarter of 2006 was $140,000, while in the Portland area hovers around $80,000. (more) |
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USATODAY.com - Apartment rents expected to rise 5% - May, 2006
USA Today reported in late May that rents are expected to rise 5.3% across the country - the highest in more than 5 years. (more) |
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Read the USA Today Story |
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Portland Area Still Inexpensive - March, 2006
Written by Greg Frick for Metro Multifamily Housing Association
There has been an influx of new capital from other real estate markets and other investment types that has helped fuel demand for commercial real estate in Oregon and SW Washington. (more) |
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Oregon jobless rate unchanged
- Portland Business Journal - January 19, 2006
Oregon's unemployment rate for December remained unchanged from November at 5.7 percent, the Oregon Employment Department reported.
Most major industries added jobs, with educational and health services (2,700 jobs) and manufacturing (2,500 jobs) leading the way. (more) |
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Click here to view the full article |
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Building is booming - Portland Business Journal - January 6th, 2006
If you want to know what will happen in Portland real estate in 2006, just look at 2005, then adjust your budgets accordingly.
After years of empty space and generous concessions to entice tenants, landlords will finally gain the upper hand in lease negotiations. (more) |
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Click here to view the full article |
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Apartment watchers look with hope toward new year - Portland Business Journal - November 25, 2005
A four-year apartment market dry spell is poised to end in 2006.
Not only are more apartments occupied by rent-paying tenants, conditions are ripe for the first across-the-board rent increases since 2000, according to a recent survey by the Metro Multifamily Housing Association. (more) |
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Click here to view the full article |
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Rising apartment property values fueled by several factors
Nearly every day, the news media has marveled at the continued high prices of commercial real estate, especially apartments. We in Oregon and SW Washington have seen a dramatic rise in pricing despite lower revenue and higher expenses for apartment owners. (more) |
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