• Skip to main content
  • Skip to primary sidebar

Ashley Realty Works

Portland Real Estate Experts

PORTLAND REAL ESTATE EXPERTS 503.495.5776

  • About
  • Search
    • West Portland
    • East Portland
    • North Portland
    • Lake Oswego/West Linn
    • All Portland Areas
  • Properties
    • Featured Portland Listings
    • Portland MLS Home Search
    • Portland Map Search
    • Portland Home Market Report
    • Sold Properties Listed by Ashley Realty Works
  • Contact
  • Members

Portland Real Estate Behind the Scenes

Portland Real Estate Market Action Report – January 2020

Closed sales (1,663) rose 14.6% from the 1,451 closings recorded last year in January 2019 and decreased 24.9% compared with the 2,213 closings recorded last month in December 2019.

Pending sales (2,271) increased 11.1% over the 2,045 offers accepted in January 2019, and rose 28.2% over the 1,772 offers accepted last month in December 2019.

New listings, at 2,754, decreased 9.6% from January 2019 (3,048) and rose 116.9% from December 2019 (1,270). Inventory increased to 2.2 months this December, while total market time increased to 74 days.

Comparing January 2020 to January 2019, the average sales price has increased 6.3% from 435,600 to 463,000. In the same comparison, the median sales price has increased 5.5% from 384,900 to 406,000.

Filed Under: Portland Local, Real Estate Market

1031 Exchanges: A Capital-Gains Deferral Strategy for Investment Property Purchases

It’s a new year, which means that tax season approaches rapidly. While you’re getting all of your documentation together to complete your returns, we want to help make sure you’re taking advantage of all available deductions and deferrals!

One interesting option for capital-gains tax deferral? The 1031 exchange, which allows investment property owners to sell their rentals, commercial properties or investment land in exchange for the purchase of a “like-kind” property while deferring the capital-gains tax from that sale. 

Our office, RE/MAX Equity Group – Broadway in Portland, Oregon, recently hosted Tojia Beutler, a local Portland attorney and owner of the Beutler Exchange Group, for a lunch-and-learn session on 1031 exchanges. Tojia provided a lot of insight on this useful capital-gains tax deferral strategy, and we think it’s worthwhile for our clients to be aware of this option. Check out this overview of 1031 exchanges to see if they could benefit you now or in the near future: 

What is a 1031 Exchange?

If you’re already an investment property owner, you likely know that the revenue we generate from investments is taxed separately from our income tax. This separate tax is known as capital-gains tax. The 1031 exchange allows investment property sellers to delay paying taxes on that sale. 

It’s important to note that there are very specific requirements that allow investment-property sellers to benefit from a 1031 exchange. This procedure is outlined in Section 1031 of The U.S. Internal Revenue Service Code, which is how it gets its name—Section 1031 allows for the “exchange” of two like-kind investment properties without the immediate application of capital-gains tax.

One important foundational aspect of the 1031 exchange—and the reason the word “exchange” is used in the first place—is that investors must use the proceeds from the sale of their existing property to finance the purchase of the new property. And that property must be of “like-kind” to qualify. 

This means, broadly, that you’ll need to “exchange” one piece of real property for another, but it doesn’t necessarily mean that you need to buy properties of the exact same type or value. It simply limits qualifying transactions to those concerning real estate.

I Sold an Investment Property This Year—Do I Qualify?

According to the information Tojia provided at our informational session, it’s important to enter into an investment property transaction knowing that what you’re doing will qualify for capital-gains deferral under Section 1031. In other words, it’s best to start working with the Beutler Exchange Group before you sell your investment property. 

The IRS has very specific requirements that determine which transactions qualify as a 1031 exchange, and the Beutler Exchange Group’s 1031 checklist includes verifying that both the property you’re selling and the new property you’re purchasing qualify. Still, it’s worth exploring with Tojia and her team to see what you might be able to do on your upcoming tax return.

Next Steps

If you’re a current investment property owner who’s considering selling in order to buy a new investment property, you’ll want to do more than just get in touch with us to help facilitate your sale and new purchase. You’ll also want to get started with the Beutler Exchange Group before you sell to make sure you’re checking all the right boxes to qualify for this capital-gains tax deferment. Tojia and her team are happy to answer questions and give more detailed information on 2031 exchanges and how they can benefit you—connect with them now!  

Filed Under: Real Estate Market, Uncategorized

Portland Real Estate Market Action Report – December 2019

Closed sales (2,213) rose 19.9% from the 1,846 closings recorded last year in December 2018 and increased 1.0% compared with the 2,191 closings recorded last month in November 2019 

Pending sales (1,772) increased 10.8% over the 1,599 offers accepted in December 2018, and fell 22.1% short of the 2,274 offers accepted last month in November 2019. 

New listings, at 1,270, increased 1.2% from December 2018 (1,255) and fell 40.0% from November 2019 (2,118). Inventory decreased to 1.8 months this December, while total market time increased to 64 days. 

Comparing 2019 to 2018 through December, the average sales price has increased 1.5% from 452,400 to 459,200. In the same comparison, the median sales price has increased 2.5% from 400,000 to 410,000. 

Comparing 2019 to 2018 through December, the average sales price has increased 1.5% from 452,400 to 459,200. In the same comparison, the median sales price has increased 2.5% from 400,000 to 410,000. 

Filed Under: Portland Local, Real Estate Market

High Impact, Low-Cost Home Improvements = $$$!

Think you need to spend a ton to get your home ready to sell? As you’ll see in this revealing video series, a small budget can go a long way. These small but impactful improvements not only paid for themselves but resulted in a 5x return on investment for our sellers!

This home we helped prep for sale is a great example of the fact that you don’t have to undertake a major renovation at high costs to make a home marketable. Though the total cost for improving this house only came to $25,400, the home sold for $125,000 over its list price!

Improvement #1: The Front Porch

First impressions matter a whole lot—we want buyers to fall in love at first sight. Transforming this home’s front porch to make it more inviting didn’t take a ton of effort, but it did result in a dramatic boost to curb appeal. This project was a complete rebuild from scratch, done with high quality materials and brand new concrete footers.

Improvement #2: Fresh Paint

Dark, dated interiors and surfaces that have stains or damage can get a quick makeover with a fresh coat of paint. This is probably the most impactful change you can make. Choosing high-gloss finishes on all the trim is particularly effective in helping to amplify natural light and give the home a fresh, modern feel. The entire home was completely repainted including the trim.

Improvement #3: Revealing Hardwoods Under Carpet

It was so satisfying to tear up that dingy carpet layer to uncover a beautiful fir floor underneath! This is a particularly cost-effective move because you’re not paying for something new, but rather revealing what’s already there.

Improvement #4: Recently Remodeled Kitchen

In our experience, kitchens and baths sell homes. Though this home had a recently remodeled kitchen, it did need a good clean, a fresh coat of paint and some new lighting to help brighten it up.

Improvement #5: Basement Bathroom

If you have the space and the plumbing hookups ready to go, fixing up an existing basement bathroom is a no-brainer. That extra bathroom opens up a lot of possibilities for living arrangements, and it doesn’t take a big investment to simply replace some fixtures.

Improvement #6: Basement Makeover

Did you know that you can have basement floors steam cleaned? That’s one of a few simple steps we took to transform this space into a welcoming part of the house without actually having to do a major remodel.

Improvement #7: Fireplace Refresh

This home already had two fireplaces installed, but they needed a little TLC. Some simple professional cleaning gave them a new lease on life.

Improvement #8: Attic Attack

All we had to do to transform this previously forgotten part of the house? Add some drywall, paint, and now it’s ready to serve as an office.

TOTAL IMPROVEMENT COSTS: $25,402.70

Need our magic touch to get your home ready to compete on the Portland real estate market? Call us at 503.819.4851 or email us at karoline@ashleyrealtyworks.com to grab a coffee and discuss your real estate needs!

Filed Under: Home Selling Tips, Portland Featured Homes, Real Estate Market

Portland Real Estate Market Action Report – November 2019

Closed sales (2,191) rose 2.2% from the 2,144 closings recorded last year in November 2018 and decreased 15.3% compared with the 2,588 closings recorded last month in October 2019.

Pending sales (2,274) increased 19.4% over the 1,904 offers accepted in November 2018, and fell 11.7% short of the 2,575 offers
accepted last month in October 2019.

New listings, at 2,118, decreased 8.3% from November 2018 (2,310) and fell 30.9% from October 2019 (3,064). Inventory stayed at 2.4 months this November, while total market time increased to 60 days

Comparing 2019 to 2018 through November, the average sales price has increased 1.4% from 453,100 to 459,300. In the same comparison, the median sales price has increased 2.5% from 400,000 to 410,000.

Filed Under: Portland Local, Real Estate Market

Top 10 Donation Spots in Portland

 

The holiday season often comes with an influx of new stuff, from decor and winter maintenance supplies to gifts and kitchen gear. If you find yourself feeling a little cluttered as a result, consider donating! 

There are some awesome organizations around Portland that can give your unwanted possessions a second life. Maximize the good you do with what you have by following this simple guide, compiled with the assistance of SCRAP PDX’s handy website.

What to Do With…

High-quality art and design materials > Donate to SCRAP PDX

SCRAP’s website has a useful list of stuff they do and do not accept. The bottom line: they, like many other local creative reuse and recycling organizations in Portland, aren’t exactly hurting for donations. That means they are selective with what they accept. Keep this in mind when donating to any of the organizations on this list—quality matters. Consider SCRAP for your donations that fit the bill and support their efforts in environmental sustainability education and mission that revolves around access to creative expression for everyone.

New and lightly used clothes > Donate to a local homeless shelter

There are a lot of wonderful community organizations in Portland focused on ensuring the health and safety of people who’ve fallen on hard times. At this time of year, your donation of a warm winter coat can make a huge difference for someone in need. Organizations that accept donations of clean clothes in good condition include:

Portland Rescue Mission
Central City Concern
Transition Projects
Rose Haven (specializes in items for women and children)

Bedding, clothing and other fabrics > Call the Pioneer Wiping Cloth Company

It’s best not to donate bedding, clothes and other fabrics that aren’t in new or like-new condition. If you wouldn’t want to wear it or snuggle up in it, it probably isn’t suitable for donation. But that doesn’t mean it needs to go into the trash—the Pioneer Wiping Cloth Company might be able to recycle your old fabrics. Give them a call to find out!

Old electronics and tech > Donate to Free geek

Free Geek is a nonprofit focused on reusing tech equipment rather than sending these hazardous materials to landfills. When they refurbish tech, they grant what they’ve fixed to local community organizations. You can donate just about anything electronic to Free Geek, and they’ll either reuse or recycle it for you.

Household appliances, fixtures and building materials > Call the ReBuilding Center to inquire about a donation

If you’ve never been to the ReBuilding Center, you should plan a trip as soon as possible. This place is a playground of salvaged building materials you can use in DIY home improvement projects. They also accept donations, though you should call ahead if you have a lot of stuff on hand.

Furniture, lamps and other furnishings > Donate to Community Warehouse

We love the Community Warehouse—Wick is very involved with the organization, and we believe in what they do. They’re a furniture bank, meaning they function similarly to a food bank, but for furniture. If you have home furnishings in good condition that you just don’t need anymore, donate them to the Community Warehouse! Last year, the served 7,000 families.

Building supplies > Contact Habitat for Humanity Portland Metro East to inquire about a donation

You don’t have to pick up a hammer to help Habitat for Humanity build houses for low-income families. Habitat would love to reuse your building materials, and they’ll even come pick them up! If you’re planning a renovation in your kitchen, for example, Habitat may be able to arrange for a crew to come remove cabinetry that they’ll then use in a new home.

Office & school supplies > Donate to Schoolhouse Supplies

Schoolhouse Supplies is a great local organization that provides free school supplies to children in need. Any old boxes of pencils, pens, notebooks or markers can go to good use with this organization. Like SCRAP, Schoolhouse Supplies has a list of items they do and do not accept on their website. Give this a read before you bring stuff to them.

Anything plastic > Call Far West Recycling to see if they can recycle

Portlanders are getting wise to the fact that plastic is pretty terrible for the environment. If you’ve recently replaced a lot of plastic stuff with more sustainable materials, that’s great! Far West Recycling may be able to recycle your unwanted plastics. 

Everything Else > Call the Metro Recycling Hotline

Unsure what to do with everything else, or with things that get rejected for donation? Call the Metro Recycling Hotline and they’ll help: 503.234.3000

Filed Under: Around Portland, Community, Portland Local

  • Go to page 1
  • Go to page 2
  • Go to page 3
  • Interim pages omitted …
  • Go to page 10
  • Go to Next Page »

Primary Sidebar

ashley-realty-works-remax-equity-group-portland-oregon

MEET THE TEAM
Karoline and Wick have grown Ashley Realty Works to be one of Metro Portland area's top real estate teams. Call for a consult today!
503-495-5776

Search Portland Homes

$
$
SEARCH >
  • Facebook
  • Instagram
  • LinkedIn
  • YouTube

GRAB A COFFEE >

  • About
  • Search
  • Properties
  • Contact
  • Members

Copyright © 2023 Ashley Realty Works. All Rights Reserved. #BuiltByBobbie