Selling YOUR Portland Condominium?
Why list your condo with anyone else?
Luxury Condos are moving in Portland
December Sales
For the month of December we had about 35 sales which was equal to theprevious months sales.(approx. 200k and higher in Pearl District, South Waterfront and downtown) Leading the way were condos in the “Luxury” arena. This included a $2,000,000 sale at 937 Condominiums and a $1,000,000 sale at The Metropolitan Portland. The unit at The Metropolitan took a 9% hit from it’s original listing price. This is the second unit in the last 2 months that took a pretty big hit from it’s original offering price. Last month a unit sold for over 14% off of it’s original listing.
What does this mean for Portland condos? It means some condos are still going on the market at price points that are wishful and once again pointing out that if they had been correctly priced from the start, they may have gotten a better final price. Keep this in mind… you still have ongoing expenses as you hold onto an overpriced listing (Mrtg. payment, taxes and HOA fees etc) And the longer the listing stays on the market, the worse the offers become because buyers sense desperation in the sellers.
Remember, if you are thinking about putting YOUR Portland condo or loft on the market, give us a call and we will share with you what we feel is the very best condo marketing program in Portland! While we are committed to form strong relationships with our clients and believe this is important, we also believe that a strong relationship is not what gets a condo SOLD… it is good marketing!
“Marketing for today’s tech savvy buyers!”
Marketing Portland Condos for all their worth!
There are no Yard Signs with Condos!
Portland condominiums and lofts do not benefit from drive by traffic in the way that free standing homes do. The reason, well it’s pretty simple, there are no yard signs or directional signs with condominiums and lofts! Almost 100% of buyer traffic for condos comes through the internet!
What does this mean for someone about ready to sell their Portland condo or loft? It means the real estate agent you choose to list your condo better have great internet presence!
Now keep this in mind, agents have gotten very good in their listing presentations about making it sound like they are internet marketing experts. In fact, I would say it’s pretty standard for most agents to say “ Your listing will be posted on 10 different websites and be seen all over the world!” While this may sound good to the client, the reality of it is that it is more smoke and mirrors than reality!
Everybody has listings placed on the typical websites like Realtor.com, Trulia, Zillow and Craigslist just to name a few. Any good agent will have his listings on these websites so it is really nothing special that the agent is doing. The key here is…. Do they have websites that show up under the most common searches for condominiums? Serious condo buyers will search buildings…The Henry Condominiums, or they will check out the buildings HOA fee and it’s amenities…The Casey HOA fees, or Meriwether HOA fees and amenities. When you do these common searches do you see ANY of the above websites on page 1 of Google?
What you do see is OUR “Search Specific” websites… and they are everywhere! ( in the example above, the top 5 are our websites) And it is our clients listings that will be the listings that stand out in front of the serious buyers.
Another consideration for selling your condo is if the agent you are using has an IDX fed website…but this is another topic we will discuss later.
Coming soon…. The Metropolitan Portland… one of Portland’s finest!
$110 Million Condominium?
One57 New York
That’s right! $110,000,000. That is the listing price of the penthouse unit at One 57 in New York.
The One 57 tower eventually will rise to more than 1,004 feet when the building opens in 2013. It would be the tallest residential development in New York to date. With the recent $88,000,000 sale at 15 Central Park, the door has been opened again for buyers dishing out big bucks for for New Yorks finest apartments. One 57 is sure to break some records for mega million dollar sales within the same building!
The penthouse is listed for $110 million at One 57 and is on the top two floors of what will be a 90-story building. It has a 57-foot-wide, double-height “grand salon” facing Central Park.
According to the documents, prices at One 57 are now up a total of $77 million, or an average of 3.9%, since the One 57 condo development plan was first submitted, with the largest increases on the most expensive condos. There are now four full-floor apartments priced at more than $50 million. Seven other lower full-floor units are listed for between $42.5 million and $48.5 million.
In terms of luxury and being the best of the best, One 57 New York is sure to make even Mr. Trump, a little envious!
Don’t have $110 Million? That’s ok! If you are looking for a luxury condo in Portland in all price ranges we can help. Call Brad Golik at 503-896-8856 to take a tour of Portlands finest!
November Condo Sales
Portland Condo sales for November
Condo sales for the month of November dropped nearly 25% from the previous month in which there were 48 sales in the Downtown, Pearl District and South Waterfront areas. In the Portland condo market in these areas, with units priced above $200,000, there were 36 sales for November. Taking the #1 spot for Portland condo sales for the month was 937 Condominiums in the Pearl District with 5 sales. Following 937 with 3 sales was The Elizabeth Lofts with 3 sales, The Metropolitan with 2 sales and Atwater Place also with 2 sales.
An important trend to look at is the number of Portland condos and lofts that are selling at more than 5% off of their original listing price. This can happen typically, for one of two of the most common reasons: 1st , sellers believe their condo is worth more and won’t budge on their pricing…until they HAVE to. Often leading the sellers to chase the market down and eventually selling for less than they could have if the unit would have been priced correctly from the beginning. 2nd, in competitive situations with competing agents, some agents will “Buy” the listing! What this means is that the agent will tell the sellers their unit is worth more than what a competing agent may have stated the value at. The overpriced unit will then sit on the market with very few showings and then the agent, after forming a relationship with you, will then “encourage” you to lower the price! When this happens, many times the unit becomes “stale” and the price reductions just continue. This, unfortunately, is something that is done by only a few and is a huge disservice to our industry and most importantly, a huge disservice to you, the seller.
A prime example of what can happen with a listing can be witnessed this month with a unit at The Metropolitan that recently went pending. Originally priced at $899,000, this unit was priced over $100,000 more than a similar floor plan a few stories lower. Had it been priced more competitively with the lower unit, say $40,000 more than the lower unit, it very well could have gotten an offer closer to it’s list price. Now, after chasing the market down, it most recently went pending at $800,000 and will most likely close somewhere well below $800,000. This will be between 11-14% off of the original list price.
If you plan on selling your condo in the near future, keep this in mind. A condo that is priced correctly will most often sell for more than if you try to over price it with the idea that you will drop the price if you don’t get interest. This strategy almost never works in your favor. In fact, a unit that is priced at the market will often deliver much better end results for the seller.
When pricing your unit, keep these thoughts in mind:
The market value of your condo IS NOT
- What you have in it
- What you need out of it
- What it was appraised for
The market value of your home IS
- Based on today’s market
- Based on today’s competition of units
- Based on today’s financing availability
- Based on today’s economic condition
As a seller, you control the price you ask and the condition of your unit. You do not control market conditions or your homes value!
Polish the Pearl!
Here is your chance to contribute to your neighborhood! On Saturday, October 22nd, clean up efforts for the Pearl District will begin at Peet’s coffee.
Thank you for your participation in the Pearl District Neighborhood Association’s Polish the Pearl event. For more information, please visit:
http://www.pearldistrict.org/2011/10/polish-the-pearl-make-your-neighborhood-shine/
Polish the Pearl!
Here is your chance to contribute to your neighborhood! On Saturday, October 22nd, clean up efforts for the Pearl District will begin at Peet’s coffee.
Thank you for your participation in the Pearl District Neighborhood Association’s Polish the Pearl event. For more information, please visit:
http://www.pearldistrict.org/2011/10/polish-the-pearl-make-your-neighborhood-shine/
Other
Portland Condominiums Pearl District Lofts South Waterfront Condominiums
The Henry HOA fees and Prices / The Henry Video 
The Henry is located on Couch between 11th and 12th. It consists of 123 Condos that were built in 2004. This half block includes a retail base of approx. 11,000 sq. ft. on the ground floor with three floors of parking above and 11 stories of luxury condominiums. Situated in The Brewery Blocks at the entrance to Portland’s Pearl District. The Henry Condominiums received gold LEED certification from the U.S. Green Building Council, becoming only the third residential building in the United States, at the time it was built, to achieve this rating for sustainable design and construction. Portland condos in the heart of the Pearl District.
Concierge: YES
Location: Pearl District
The Gregory Lofts HOA fees and prices / The Gregory Video / 
The Gregory Portland is one the finest builidings in the Pearl District. Built in 2000 by John Carroll and associates, it has 120 units, a fifth floor terrace and unique art deco styling.
Concierge: NO
Location: Pearl District
The Casey Condos HOA fees and prices / Casey Video 
Located in the Pearl District at NW 12th and Everett, The Casey was designed to be one of the finest residential buildings in the city. With 16 stories, It has only 61 units, most with two or more bedrooms. The Casey Portland has achieved an LEED platinum rating making it one of the most environmentally friendly and sustainable buildings in the country.The developer, Gerding/Edlen, was the first to achieve a top “platinum” rating under the U.S. Green Building Council’s Leadership in Energy and Environmental Design program.
Concierge:YES
Location: Pearl District
The Metropolitan Portland HOA fees and prices / Metropolitan Video 
The Metropolitan is located at 1001 NW Lovejoy Street. It is a beautifully designed building that soars nineteen stories contains 136 units. The Metropolitan Portland is truly one of the finest Portland luxury condominiums.
Concierge:YES
Gym:Yes
Location: Pearl District
937 Condominiums HOA Fees and Pricing / 937 Video 
937 consists of 114 residential condominiums over ground floor retail space and two levels of private parking. The 16 story building has LEED platinum certification. The 937 Condominiums are one of only 3 LEED Platinum condominiums in the nation.
Concierge:YES
Location: Pearl District
The Westerly HOA fees and pricing / The Westerly Video 
The Westerly Portland offers sensational views of The Pearl District and the shining lights of downtown Portland. The Westerly truly has some of the best city views available! Oh, did we mention the amazing Mt. Hood Views?Conveniently situated at the top of Everett on NW 24th, everything is within reach in this prestigious Nob Hill area of NW Portland. The Westerly Portland features 14 stories with 104 units, beautiful finishes, livable floor plans, and fantastic views. The Westerly is also a LEED certified green building.
Concierge: YES
Location: Nob Hill/ NW
The Meriwether HOA fees and Pricing / Meriwether Video 
With streetcar access just steps away, shop downtown or dine in the Pearl District in just a few short minutes!Located on the Willamette River’s edge, the elegant Meriwether towers were the first of the residential buildings to be completed in South Waterfront. The Meriwether Portland, at the time it was built, was one of the few LEED Gold certified residential towers in the country. With 24 floors, the 245 homes were sold out prior to completion.
Concierge: YES
Location: South Waterfront
The John Ross HOA fees and Prices / John Ross Video 
The John Ross tower has been designed by the internationally recognized architect Robert Thompson. With easy access to downtown Portland and the Pearl District via the streetcar, the John Ross is an ideal address for busy professionals and discerning home buyers.The buildingis a complete elliptical shape, with no straight exterior walls. This gives every unit with a magnificent view, and an experience like no other building in Portland can offer.
Concierge: YES
Location: South Waterfront
Atwater Place HOA fees and Pricing / Atwater Place Video 
If you are looking for the most upscale waterfront living, welcome to Atwater Place! Atwater Place is rises from a four-story pedestal with 133 tower units. Also, there are another 78 single-story units in the pedestal and five town houses on SW Gaines Street.
Atwater Place Portland was the South Waterfront’s third condominium project. Created by Portland architect Thomas Hacker, this meticulously designed condominium building features beautifully appointed homes ranging from 760 to 3,750 square feet. Nearly all of the homes in the tower offer views of the Willamette River, and many have views of Mt Hood, Downtown Portland and the West Hills.
Concierge: YES
Location: South Waterfront
The Elizabeth Lofts HOA fees and pricing / The Elizabeth Video 
The Elizabeth Portland is located on 9th between Flanders and Everett. With 174 Condos 16 stories this building was built in 2004 with units ranging in size from 725 square feet to 3,500 square feet. The Elizabeth was developed by Carroll/Aspen who also developed the Chown Pella, McKenzie, Gregory and the Edge Lofts.
Concierge:YES
Location: Pearl District
Marshall Wells Lofts HOA fees and prices / Marshall Wells Video 
The Marshall Wells building was renovated in 2003 and now is home to 164 residential lofts.The Marshall Wells Lofts are located at 14th and Lovejoy. Built in 1910 as an industrial warehouse for the Marshall-Wells Hardware Company.
Marshall-Wells is a genuine 1910 seven floor industrial warehouse, with high ceilings, large windows, and original woodwork. This is a classic industrial look that other “loft” projects can only imitate. With a central courtyard and cork flooring, some units have visible notes in the exposed beams from workers that maybe nearly 100 years old.
Listed on the National Register of Historic Places in 1988, the Marshall-Wells building was one of the Pearl District’s last remaining industrial warehouses suitable for residential conversion. It is highly ranked in the Portland Historic Resource Inventory because it was specially engineered with an unusually solid structural system.
Concierge: NO
Location: Pearl District
Park Place Portland Condos HOA fees and prices / Park Place Video 
The Park Place condos are located at 11th and Lovejoy. This 124 unit mixed-use condominium project several different floor plans: traditional flats, townhomes, and lofts. A concierge service is offered at park Place.Built in 2003
Concierge: YES
Location: Pearl District
Encore Condos in Portland HOA fees / Encor Video 
The Encore Condos is the newest building to rise on the Pearl District’s North side, near the Fremont Bridge. With its eyes on the new park between N.W. 10th and 11th Avenue, and Overton and Pettygrove Street, the residents will be encouraged to use the public spaces. This includes a new three-acre park (the city’s largest planned park). The 175-foot building is the gateway development for the existing Pearl and what is expected to rise in the next decade.
With emphasis on glass, transparency and views, The Encore has a signature curving shape facing the Pearl, and thin towers facing north. The 177 homes are made up lofts, live/work homes, one and two bedroom condos, townhomes, and penthouses. Townhomes and live-work units feature large outdoor terraces, allowing private gardens.
Concierge: NO
Location: Pearl District
Tanner Place HOA fees and prices / Tanner Place Video 
120 condos.Built in 2000. Tanner Place is located on Johnson between 10th and 12th, across from Jamison Square.With its formal, symmetrical façade and massing, Tanner Place helps enclose and activate adjacent Jamison Park. Ground floor retail creates an active pedestrian environment that helps connect people to the park and the street car. The building’s u-shape is designed to appear as three buildings, with individual lobbies and views east, south and west.
Concierge: NO
Location: Pearl District
Pacifica Tower HOA fees and prices / Pacifica Tower Video 
The Pacifica Tower features 74 units from $239k to over $1 million. Each luxury unit boasts floor to ceiling glass. Riverscape – live on the water, next to The Pearl, in Portland’s hippest new riverfront development. Some units feature expansive panoramic views. The Pacifica is one of the largest resident glass front buildings in Portland.Riverscape is a short distance to some of Portland’s most exiciting and interesting restaurants, boutiques, and every imaginable specialty shop.
Concierge: NO
Location: Riverscape (Just north of The Pearl District)
The Pinnacle Portland HOA fees and prices / The Pinnacle Video 
The Pinnacle Portland, located on the Northern edge of The Pearl District, offers fantastic city and water views. The building has 14 stories and 176 residential condominiums including traditional one and two bedroom lofts, luxury penthouses.
Concierge: NO
Location: Pearl District
The Civic Portland HOA fees and prices / The Civic Video 
Adjacent to Jeld-Wen Field between SW 18th Avenue and SW 20th Avenue, these condos consist of market-rate condos, affordable housing, and retail in a public-private partnership between the Housing Authority of Portland and Gerding-Edlen Development. On the eastern half will be the Civic tower, 16 stories of 261 condominiums with panoramic views of downtown and the West Hills.
Concierge: YES
Location: Burnside/ Downtown
Benson Tower Portland HOA fees and pricing
The Benson Tower is a 26 story condominium building located in the downtown Cultural District. This Portland high-rise offers some of the best condominium views in all of Portland! Condo features include stone counters, stainless appliances, gas cooking, and secured parking for most units.
Concierge: NO
Location: Downtown Portland
Harrison Tower Condos HOA fees
Harrison is comprised of three high-rise residential towers with 537 condominiums and 24 towhhouses in the heart of downtown Portland. Each condo unit offers floor-to-ceiling windows, many with spectacular Portland views of the Willamette River, downtown skyline, West Hills and Cascade Mountains. Harrison also has a pool, spa and onsite parking.
Concierge: NO
Location: Downtown Portland
Edge Lofts HOA fees and prices
The Edge Lofts, built in 2004 and features lofts with floor-to-ceiling windows, hardwood floors, secured parking, and secured entries. On the ground level is the REI flagship store for Portland. This was a Leed designed building.Enjoy evening walks after enjoying one of many fantastic restaurants in the Pearl District. Go for a late night latte or perhaps a glass of wine as the sun sets over Portland’s most famed neighborhood!
Concierge: NO
Location: Pearl District
Avenue Lofts Portland HOA fees and prices
The Avenue Lofts building is located at NW 14th and Irving in the Pearl District. Formerly a Meier & Frank warehouse, it was renovated in 2004 and now contains approx 195 classic loft spaces. Units in the building enjoy a tax histroric property tax freeze through year 2015.
Concierge: NO
Location: Pearl District
Bridgeport Condominiums HOA fees and prices
123 Condos. Originally built in 2004. The Bridgeport Condos are located between Marshall & Northrup and 11th & 12th. The Bridgeport Condos furthered the migration of the Pearl District North. Together it forms two seven-story buildings that are joined together by a quaint courtyard and walkway. The East building sits on 11th overlooking Tanner Springs Park and is home to 56 units. The West building sits on 12th and is home to 67 units and looks West towards the Cronin Block and further towards the West Hills.
Concierge: NO
Location: Pearl District
Chown Pella Lofts HOA fees and prices
The Chown Pella Building is located at NW 13th and Glison in the middle of Pearl District activities. Chown Pella consists of 68 loft spaces developed in 1996. Originally built in the early 1900′s, this historical building formerly served as a warehouse and manufacturing site for numerous Portland area businesses. Amenities include secured parking, secured entries, in-unit laundry hookups, and nice views of The Pearl. Units have a tax abatement until 2009.
Concierge: NO
Location: Pearl District
Irving Street Lofts HOA fees and prices
86 Condos. Seven stories. Originally built in 1925.Irving Street Lofts are located 13th and Irving. Irving Street Lofts was originally used as a pharmaceutical warehouse and then became the first building to sell residential space. This space was exclusively used by artists as a space to live and a space to create their art. Most units have an exposed concrete column 12 ft. ceilings. The windows are oversized and allow a great amount of light to penetrate each unit. Many artists still call Irving Street Lofts their home for this reason alone. The roof top terrace is by far the largest of any residential building in Portland. The building which takes up an entire city block has just as much space on its roof that it is pen year round to its units.
Concierge: NO
Location: Pearl District
Pearl Block Townhomes HOA fees and prices
Waterfront Pearl Condos HOA fees and prices
With 180 Condos and built in 2007, The Waterfront Pearl is located in the old River Queen parking lot on the edge of the Pearl District. It is bordered by Naito Parkway, the Albers Mill building to the south and the Portland Police paddock to the north.It boasts approximately 900 feet of waterfront, thus given the name”Waterfront Pearl.” A water feature covers almost the entire property and will range in depth from 18 to 36 inches. Water will cascade down a series of waterfalls, be recycled through a series of filters, and recirculated.
Concierge: NO
Location: Pearl District
Pearl Lofts HOA fees and prices
City Lofts HOA fees and prices
Streetcar Lofts HOA fees and prices
The Streetcar Lofts are located on NW 12th and Lovejoy, built in 2001 and have 139 loft spaces. Each unit has poured concrete floors and walls, high 10-foot ceilings, European style balconies and floor to ceiling windows. This building has been awarded national recognition for its industrial architecture as well as some of its unique interior features. As a true loft style condominium, these one and two level living space have wide open areas to create the rooms that are most important to you. Located directly over the residents on-site gym is a neon sign that is recognized in many images of the Pearl District. The “Go By Streetcar” sign that is located high on the building on the corner of NW 11th and Lovejoy is one of the first things you see as you enter the Pearl District from the Broadway bridge.The ‘Go By Streetcar’ sign and the Streetcar Lofts are one of the most recognized residences in Portland. Streetcar Lofts were built to look like a historic Soho loft building, Streetcar earned national architecture awards for its industrial architecture and interior features. Poured concrete floors and walls, gas fireplaces encased in granite, and brilliantly flexible kitchen and dining areas make Streetcar unique.
Concierge: NO
Location: Pearl District
North Park Block Lofts HOA fees and prices
McKenzie Lofts HOA fees and prices
Riverstone HOA fees and prices
Strand Condominiums Strand Condo HOA fees and Prices 
The Strand is located near the Riverplace Marina in Downtown Portland. It features three towers containing approx 230 condominiums and 27 town homes. The waterfront location is one of the best in the city and is a very central location..
Amenities include concierge service, secured parking.
