Narrative: The “April Residential Highlights” section starts with year-to-year changes, where closed sales are up 13.1% from 2011, pending sales are up 18.0%, and new listings were reduced by 2.0%. This year’s inventory is 4.7 months (last year was 7.2, last month was 5.0). With closed sales, the year-to-year percentage change saw the Metro Portland market fall 4.9% on average sale price and 3.9% on median sale price.

At the monthly level, closed sales increased 7.6%, pending sales were up 4.1%, and new listings were up by 5.3% from March 2012. In terms of pricing, average sales increased 3.9% from March 2012, while median sales were up 4.3%.

Multiple offers are becoming more commonplace in close-in areas of Portland. Last week, a listing in South Tabor closed at $325,000, nearly $30,000 more than asking price. The increase in new listings shows more seller confidence, especially when they hear the stories of multiple offers.

The inventory absorption figure is 4.7 months, the lowest since June 2007 and considerably lower than January (7.0) and February (6.5) of this year. Inventory decreased despite the 5.3% increase in new listings over last month. Last year, inventory was 7.2 months and two years ago it was 7.3 months.

Interest rates were at 3.750% this week for a 30-year fixed, conforming loan (loan amount under $417,000). Rates fluctuated, in the last month, but are a little lower than last month.

On the second page, there are some mixed results on a year-to-year basis. North Portland (area 141) is up 0.1% (from 0.4% decrease last month), NE (142) and SE Portland (143) are off 4.4% (off 4.4% last month), and 6.0% (off 7.5% last month) and market times are 73, 77, and 102 respectively. All three are below the regional average of 123 days.

You can see more activity here than other areas. For example, North Portland had 70 closed sales and 303 active listings (23.1% closed (22.6% last month)). NE was 175/620 (28.2% (31.2% last month)) and SE was 246/791 (31.1% (22.9% last month)).

Other Areas: The West Side (148) includes all NW and SW Portland. It is off 5.3% (4.4% last month) with a market time of 139. Lake Oswego/West Linn (147) appreciated 0.8% (up 0.8% last month) with market times of 142 days. The West Side had 198 closings and 958 active listings (20.7% (18.6% last month)), while Lake O had 114/618 (18.4% (13.7% last month)).

Absorption: The absorption rates indicate that N (4.3 months), NE (3.5), and SE (3.2) are all below the Metro average of 4.7 months of inventory. NW/SW (4.8) is slightly above average and Lake O/West Linn (5.4) is marginally above average.

The data continues to show that Portland Metro’s many areas are performing at different paces. Each of these areas can be broken down into sub-areas (e.g., neighborhoods, zip codes, school districts) that have different pricing, market times, and absorption rates.

Those are my “highlights” and analysis on this month’s report. If you would like a report from another area or if you have questions about this report, please call or e-mail. You can view more information on specific neighborhoods on my BIGHAT homepage or on posts to my neighborhood landing pages for Beaumont, Irvington, Grant Park, Hollywood, Alameda, and Laurelhurst. You can also search all homes for sale in Metro Portland on an Interactive Map.

Narrative: The “March Residential Highlights” section addresses changes between March 2011 and March 2012. Closed sales are up 4.9%, pending sales are up 12.8%, and new listings were reduced by 5.9%. This year’s inventory is 5.3 months (last year was 7.1, last month was 6.5). With closed sales, the year-to-year percentage change saw the Metro Portland market fall 5.1% on average sale price and 6.0% on median sale price.

Comparing first quarter 2012 with first quarter 2011, closed sales increased 12.2%, pending sales were up 18.2%, and new listings were down by 12.0%. In terms of pricing, average sales were down 0.4% from last year’s first quarter while median sales price dropped 1.4%. These signs are encouraging for a rebound in the market.

In the last four months, I have written five offers on several properties with multiple offers. One closed at more than $25,000 above the listing price. It’s not the Wild West days of the mid 2000s, but close-in, well-cared-for properties are going for above asking and often with multiple offers. Owners should be less hesitant to put their homes on the market or to try to refinance.

The inventory absorption figure is 5.0 months, the lowest inventory level since June 2007 and considerably lower than January (7.0) and February (6.5) of this year. A portion of this year’s decrease is the reduction in new listings. Last year, we were at 7.1 months and two years ago it was 7.8 months.

Interest rates again dipped below 4.000% for a 30-year fixed, conforming loan (loan amount under $417,000). Rates fluctuated, in the last month, but are a little lower than last month.

On the second page, some close-in areas are still off on a year-to-year basis. N (area 141), NE (142), and SE Portland (143) are off 0.4% (from 1.8% last month), 4.4% (from 5.7%), and 7.5% (from 7.8%) and market times are 123, 89, and 93 respectively. All three are below the regional average of 135 days.

You can see more activity here than other areas. For example, North Portland had 69 closed sales and 305 active listings (22.6% closed (21.5% last month)). NE was 176/565 (31.2% (27.0% last month)) and SE was 184/804 (22.9% (20.8% last month)).

Other Areas: The West Side (148) includes all NW and SW Portland. It is off 4.4% (4.4% last month) with a market time of 156 (209 last month). Lake Oswego/West Linn (147) appreciated 0.8% (up 0.4% last month) with market times of 160 days (152 last month). The West Side had 173 closings and 932 active listings (18.6% (15.0% last month)), while Lake O had 84/613 (13.7% (10.8% last month)).

Absorption: The absorption rates indicate that N (4.4 months), NE (3.2), and SE (4.4) are all below the Metro average of 5.0 months of inventory. NW/SW (5.4) is above average and Lake O/West Linn (7.3) is about 50% above average.

The data continues to show that Portland Metro’s many areas are performing at different paces. Each of these areas can be broken down into sub-areas (e.g., neighborhoods, zip codes, school districts) that have different pricing, market times, and absorption rates.

Those are my “highlights” and analysis on this month’s report. If you would like a report from another area or if you have questions about this report, please call or e-mail. You can view more information on specific neighborhoods on my BIGHAT homepage or on posts to my neighborhood landing pages for Beaumont, Irvington, Grant Park, Hollywood, Alameda, and Laurelhurst. You can also search all homes for sale in Metro Portland on an Interactive Map.

If you’re a typical Oregonian, whether you own, rent, or invest in real estate, you’ve probably battled water on your property at one time or another. One expert told me that the average Portland lot receives enough annual rainfall to fill a 30,000-gallon cistern. Put a different way, if you filled and stacked 7”-tall glasses containing 16 ounces, it would reach 26.5 miles. That’s a tall drink of water and is longer than the Boston Marathon (26.2 miles) that my wife will be running next month. This month’s article is about managing rainwater and wastewater on your property and the featured contractor is Apollo Drain.

During a home inspection, the inspector typically looks at the basement, foundation, and storm management system. If there are issues, then specialists are recommended to diagnose and/or repair the problem. Many times, the seller will repair the problem or reduce the purchase price. Homeowners, renters, and investor should do a similar inspection periodically. This can keep a small problem with a potentially easy fix from becoming a larger, more expensive PROBLEM. Repeat the following – “small is to cavity as large is to root canal.”

One of my clients bought a five-plex last year and was worried about water in the basement (near one of the exterior storm drains), a stopped-up driveway drain, the sewer line, and the storm water system. Apollo Drain inspected everything, starting with a fiber optic sewer scope. They generally look for breaks or deterioration in the line, any root intrusion, blockages, bellies (low spots where water collects), etc. The last thing a buyer wants is a clogged/backed-up sewer line. In this case, there were no issues. In some cases, a seller will repair the line prior to closing or provide a price concession (usually several thousand dollars) to appease the buyer.

The next step was to jet the storm system and driveway and to scope them with the micro camera. Storm and driveway drains can get clogged with roofing material, moss, dirt, and other debris, so it’s a good idea to jet them occasionally. After jetting, the micro cam revealed a break in the elbow of the storm pipes, but showed a clean driveway drain (which now drained quickly). The micro cam explained the leak inside the basement and allowed my client to get a price concession. The total cost of Apollo’s service was less than $300. The price concession was several times that amount.

Apollo Drain services Metro Portland and Vancouver. They are one of the few scope companies with a micro cam (it even fits down some interior plumbing). Their prices are reasonable and they are licensed plumbers, so they can repair the problems they find (whether replacing a sewer line or repairing a broken storm pipe elbow). I recommend them to my clients and neighbors who want to keep their water management under control.

TLAM speaks to all kinds of moms. From the new mom who has logged thousands of miles to the first-time runner with kids, there’s something for everyone. TLAM will help you (or a mother you know) train for a variety of distances, including 5K, 10K, half marathon, and marathon. Equally important is the book’s subtitle: “How to Get Across Any Finish Line – and Not Lose Your Family, Job, or Sanity.” Dimity and Sarah help running moms cope with day-to-day stress while helping them train to meet their goals.

Sarah and Dimity have a strong following. On Facebook, more than 15,000 users “like” RLAM. They’re often stopped in public by adoring fans who’ve read the book or who follow them online. Their  Another Mother Runner website features blogs, advice, giveaways, and links to podcasts; it has become one of the best sources for running moms to congregate.  If you’re looking for something to do on March 22, TLAM will be introduced at two locations. Dimity will hold a reading in Denver’s Tattered Cover Bookstore and Sarah will read at Portland’s Powell’s City of Books.

You might be wondering where to get a copy of the book (makes a great Mother’s Day present) or some fancy running apparel – including the now-famous Badass Mother Runner shirt to the right. If you attend either reading, Dimity and Sarah will gladly autograph a copy for you. You can also find the books here or shop for apparel at the AMR store.

Congrats on the new book ladies. I’m very proud of both of you and the community you’ve created.

Narrative: The “February Residential Highlights” section addresses changes between February 2011 and February 2012. Closed sales are up 17.5%, pending sales are up 32.5%, and new listings were reduced by 13.6%. This year’s inventory is 6.5 months (last year was 10.9, last month was 7.0). This is the lowest point in February since 2007.

With closed sales, the year-to-year percentage change saw the Metro Portland market rise 4.3% on average sale price and fall 1.3% on median sale price. The month-to-month indicators show that the average price rose 2.4% and the median sales price went up 1.7% from last month.

The inventory absorption figure is 7.0 months, still much lower than January (11.3) and February (10.9) of 2011. Last year, inventory was 10.9 months. A portion of this year’s decrease is due to the reduction in new listings and the boost in closed sales. We’re nearly 1/2 the inventory levels from two years ago (12.9 months).

Interest rates fluctuated between 3.875% and 4.000% for a 30-year fixed, conforming loan (loan amount under $417,000). Rates are up just a shade in the last month.

On the second page, some close-in areas are still off on a year-to-year basis. N (area 141), NE (142), and SE Portland (143) are off 1.8% (from 3.1% last month), 5.7% (from 6.2%), and 7.8% (from 8.4%) and market times are 93, 104, and 114 respectively. All three are below the regional average of 137 days.

You can see more activity here than other areas. For example, North Portland had 59 closed sales and 275 active listings (21.5% closed (13.5% last month)). NE was 145/538 (27.0% (23.7% last month)) and SE was 163/783 (20.8% (21.1% last month)).

Other Areas: The West Side (148) includes all NW and SW Portland. It is off 4.4% (5.5% last month) with a market time of 209 (166 last month). Lake Oswego/West Linn (147) is DING DING DING – UP 0.4% (down 1.3% last month) with market times of days 152 (176 last month). The West Side had 133 closings and 884 active listings (15.0% (13.9% last month)), while Lake O had 62/572 (10.8% (12.7% last month)).

Absorption: The absorption rates indicate that N (4.7 months), NE (3.7), and SE (4.8) are all well below the Metro average of 6.5 months of inventory. NW/SW (6.6) is slightly above the average and Lake O/West Linn (9.2) is above average.

The data continues to show that Portland Metro’s many areas are performing at different paces. Each of these areas can be broken down into sub-areas (e.g., neighborhoods, zip codes, school districts) that have different pricing, market times, and absorption rates.

Those are my “highlights” and analysis on this month’s report. If you would like a report from another area or if you have questions about this report, please call or e-mail. You can view more information on specific neighborhoods on my BIGHAT homepage or on posts to my neighborhood landing pages for Beaumont, Irvington, Grant Park, Hollywood, Alameda, and Laurelhurst. You can also search all homes for sale in Metro Portland on an Interactive Map.

I update this list on Fridays. Keep in mind that some of these homes are fixers and that some of the photos are just plain crummy (don’t know why you’d take a picture of a winterized toilet with the seat up). If there’s fewer than five properties below, that means that some have gone pending since my last update. If you scroll further down, you’ll see a list of all active bank-owned properties in the City of Portland.

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1 - 2 of 2 active listings.

Order By: List Date Price Status Property Type Beds Baths Year Built Square Feet ↓

$378,900

3254 SW FAIRMOUNT BLVD

MLS: 12596098

Beds:3 Baths:2.1

SqFt:2897 YrBlt:1979

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$199,900

1531 NE 116TH PL

MLS: 11625240

Beds:3 Baths:3.0

SqFt:2475 YrBlt:1953

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City of Portland Bank-Owned Homes

Here’s a list of the bank-owned properties in Portland (most recent first).

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1 - 10 of 104 active listings.

Order By: List Date Price Status Property Type Beds Baths Year Built Square Feet ↓

$199,900

6134 E BURNSIDE ST

MLS: 12697803

Beds:3 Baths:1.0

SqFt:2776 YrBlt:1934

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$180,400

2837 SE 90TH PL

MLS: 12691819

Beds:3 Baths:1.1

SqFt:3224 YrBlt:1936

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$151,000

16035 SE TAGGART ST

MLS: 12688961

Beds:3 Baths:2.0

SqFt:2145 YrBlt:1956

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$254,800

16045 NW HILDAGO LN

MLS: 12687282

Beds:3 Baths:2.1

SqFt:1464 YrBlt:2006

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$325,000

3434 SE 14TH AVE

MLS: 12674698

Beds:2 Baths:2.0

SqFt:1962 YrBlt:1890

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$184,900

7324 SE RURAL ST

MLS: 12661267

Beds:3 Baths:2.1

SqFt:1670 YrBlt:2000

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$84,000

5238 SW 42ND AVE 11

MLS: 12659048

Beds:2 Baths:1.0

SqFt:896 YrBlt:1973

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$401,000

126 NW MAYWOOD DR

MLS: 12656319

Beds:2 Baths:1.1

SqFt:1848 YrBlt:1928

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$159,900

14021 NE RUSSELL ST

MLS: 12652545

Beds:3 Baths:2.0

SqFt:1440 YrBlt:1959

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$312,246

3025 SW UPPER DR

MLS: 12649642

Beds:4 Baths:2.1

SqFt:2726 YrBlt:1979

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Visit the Neighborhood Listing Page to view more homes for sale in Irvington. To stay on top of the market, sign up here for Daily Emails of RMLS listings for sale in Irvington.

Below is a thumbnail listing. Click on “View Detail” to learn more about the property, save it as a favorite, email it to a friend, or request a showing.

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Visit the Neighborhood Pages to view more homes for sale in Grant Park and Alameda. To stay on top of the market, sign up here for Daily Emails of RMLS listings for sale in Alameda and Grant Park.

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Narrative: The “January Residential Highlights” section addresses changes between January 2011 and January 2012. Closed sales are up 18.3%, pending sales are up 22.4%, and new listings were reduced by 16.5%. This year’s inventory is 7.0 months (last year was 11.3, last month was 5.3).

With closed sales, the year-to-year percentage change saw the Metro Portland market fall 6.1% on average sale price and 6.9% on median sale price. The month-to-month indicators show that the average price fell 4.5% and the median sales price went down 3.5% from last month.

The inventory absorption figure is 7.0 months, still much lower than January (11.3) and February (10.9) of 2011. Last year, inventory was 11.3 months. A portion of this year’s decrease is the reduction in new listings. We’re below the inventory levels from two years ago (12.6 months).

Interest rates again dipped below 3.750% for a 30-year fixed, conforming loan (loan amount under $417,000). Rates fluctuated, in the last month, but are a little lower than last month.

On the second page, some close-in areas are still off on a year-to-year basis. N (area 141), NE (142), and SE Portland (143) are off 3.1% (from 3.6% last month), 6.2% (from 5.8%), and 8.4% (from 9.7%) and market times are 67, 109, and 110 respectively. All three are below the regional average of 136 days.

You can see more activity here than other areas. For example, North Portland had 40 closed sales and 296 active listings (13.5% closed (21.8% last month)). NE was 132/557 (23.7% (27.3% last month)) and SE was 164/777 (21.1% (24.7% last month)).

Other Areas: The West Side (148) includes all NW and SW Portland. It is off 5.5% (6.2% last month) with a market time of 176 (166 last month). Lake Oswego/West Linn (147) is off 1.3% (1.4% last month) with market times of days 176 (165 last month). The West Side had 127 closings and 913 active listings (13.9% (20.5% last month)), while Lake O had 75/589 (12.7% (17.3% last month)).

Absorption: The absorption rates indicate that N (7.4 months), NE (4.2), and SE (4.7) are all near or below the Metro average of 7.0 months of inventory. NW/SW (7.2) is slightly above the average and Lake O/West Linn (7.9) is moderately above average.

The data continues to show that Portland Metro’s many areas are performing at different paces. Each of these areas can be broken down into sub-areas (e.g., neighborhoods, zip codes, school districts) that have different pricing, market times, and absorption rates.

Those are my “highlights” and analysis on this month’s report. If you would like a report from another area or if you have questions about this report, please call or e-mail. You can view more information on specific neighborhoods on my BIGHAT homepage or on posts to my neighborhood landing pages for Beaumont, Irvington, Grant Park, Hollywood, Alameda, and Laurelhurst. You can also search all homes for sale in Metro Portland on an Interactive Map.

Narrative: The “December Residential Highlights” section addresses changes between December 2010 and December 2011. Closed sales are up 10.3%, pending sales are up 19.3%, and new listings were reduced by 11.7%. This year’s inventory is 5.3 months (last year was 7.9, last month was 6.2).

With closed sales, the year-to-year percentage change saw the Metro Portland market fall 6.2% on average sale price and 5.8% on median sale price. The month-to-month indicators show that the average price went up 0.5% and the median sales price went up 3.7% from last month.

The inventory absorption figure is 5.3 months, still much lower than January (11.3) and February (10.9) of this year. Last year, we were at 7.9 months. A portion of this year’s decrease is the reduction in new listings. We’re below the inventory levels from two years ago (7.7 months).

Interest rates again dipped below 4.000% for a 30-year fixed, conforming loan (loan amount under $417,000). Rates fluctuated, in the last month, but are a little lower than last month.

On the second page, some close-in areas are still off on a year-to-year basis. N (area 141), NE (142), and SE Portland (143) are off 3.6% (from 4.4% last month), 5.8% (from 5.2%), and 9.7% (from 9.5%) and market times are 90, 139, and 112 respectively. All three are below the regional average of 142 days.

You can see more activity here than other areas. For example, North Portland had 66 closed sales and 303 active listings (21.8% closed (19.6% last month)). NE was 162/594 (27.3% (20.2% last month)) and SE was 199/807 (24.7% (20.2% last month)).

Other Areas: The West Side (148) includes all NW and SW Portland. It is off 6.2% (4.1% last month) with a market time of 166 (131 last month). Lake Oswego/West Linn (147) is off 1.4% (3.3% last month) with market times of days 165 (179 last month). The West Side had 190 closings and 929 active listings (20.5% (14.6% last month)), while Lake O had 104/601 (17.3% (15.1% last month)).

Absorption: The absorption rates indicate that N (4.6 months), NE (3.7), and SE (5.1) are all below the Metro average of 5.3 months of inventory. NW/SW (4.9) is below average and Lake O/West Linn (5.8) is just above average.

The data continues to show that Portland Metro’s many areas are performing at different paces. Each of these areas can be broken down into sub-areas (e.g., neighborhoods, zip codes, school districts) that have different pricing, market times, and absorption rates.

Those are my “highlights” and analysis on this month’s report. If you would like a report from another area or if you have questions about this report, please call or e-mail. You can view more information on specific neighborhoods on my BIGHAT homepage or on posts to my neighborhood landing pages for Beaumont, Irvington, Grant Park, Hollywood, Alameda, and Laurelhurst. You can also search all homes for sale in Metro Portland on an Interactive Map.