If you are planning to go on a holiday and you are thinking of living in an apartment then you are supposed to have a good plan of how you will get a good apartment in advance instead of the last minute rash. There are times when you can embark on a journey to a holiday destination only to be frustrated in the last minute by lack of a good apartment to rent. One of the best ways to find a good apartment to rent is through the internet. There are many sites offering booking services for these apartments and upon arrival to your destination you will get your apartment reserved. For example, if you are looking for portland oregon apartments, go to the internet and make an advance booking.
Twitter reacted Friday to the news that the staff member who wrestled a gunman to the ground at Parkrose High School was former University of Oregon football player Keanon Lowe.
Police said a Parkrose High School staffer wrestled a suspected gunman to the ground Friday at the school. They said students are safe and that the suspect has been taken into custody.
Keanon Lowe, former Oregon Ducks star, wrestles suspect to ground amid report of armed gunman near Parkrose HS
Parents and students reported Coach Keanon Lowe, one of Oregon’s most prominent high school and college football players of the past decade, tackled the armed male suspect, who has since been taken into custody.
They could not confirm the identity of the staff member, but parents and students told The Oregonian/OregonLive that the staff member who diffused the situation was Lowe.
Lowe, a stand-out football player at Jesuit High School in Portland and then at University of Oregon in Eugene, is a football and track coach at Parkrose High School.
Lowe was named Defensive Player of the Year in Oregon as a high school student and went on to play four years as a wide receiver for the Oregon Ducks.
Lowe could not immediately be reached for comment Friday.
Twitter exploded with the news that the man who tackled the gunman was the well-known football star. Accolades came from students, as well as the general public, a former teammate and a Portland comedian.
“From sports hero to actual real life hero,” wrote comedian Ian Karmel. “Beers (protein shakes?) on me!”
“You’re a hero and it’s an honor to call you my friend,” said former teammate and current member of the Detroit Lions, Tyrell Crosby.
Scroll down to read more tweets about Lowe.
Still my favorite @KeanonLowe highlight at Oregon. Celebrating his teammate’s success. Great work today, sir. pic.twitter.com/La5mBrbke4
— Baby-Haver Mike Lee (R) 🍆 (@DerekBortles) May 17, 2019
The Northwest is one of the fastest-growing parts of the country, with home prices soaring as the supply of housing hasn’t kept up with demand.
Investing in such a rapidly changing environment is a challenge because we know from experience that such surges in growth never last. At some point demand will ebb, supply will increase, and prices (and rents) will level off—or even fall.
The area around Seattle has seen the most spectacular growth because of the expansion of the information technology sector—Amazon, Microsoft and many others. This sector now provides 6% of all local jobs, grew 7% in the past year, and provides 23% of local wages because of the high average annual pay, over $250,000.
Oregon and Idaho have had growth on a scale that’s only smaller in comparison, but that leads to similar problems for investors.
The best way to assess these markets is to first see where they are in the price cycle—that is, are they already over-priced? Is there a greater risk that prices will at some point actually come down? If so, your investment will need to be defensive as much as an opportunity for good returns. The table shows that in Seattle, Salem, Bend and Boise, prices are already more than 25% higher than the ‘income’ price. This means they’re over-priced. Another half dozen markets are in the 15% to 25% range, and at the rate prices increased in the past year they’ll soon be there as well.
Local Market Monitor, Inc. Local Market Monitor Inc.
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If you plan to buy and hold a rental property for the next 10 or 20 years, you don’t care too much what will happen with home prices in the next five years—even if they do go down. Eventually they recover, though the recession showed that it can take a long time. Your greater concern is to have renters in your property if the local economy does go downhill. This means you need to invest in a price range where there are lots of renters right now, what we can call the "sweet spot." This varies from market to market and from zip code to zip code, so you must do some homework with Census data.
You want to avoid high-end rentals in over-priced markets, because they’re most vulnerable in a down economy; don’t just buy a single-family home and rent it out at a high rate unless you also plan to flip it in the next few years. Instead, split a single-family into several rental units, which will take time and money but will give you better returns in the long run; or you can invest in apartments.
The table shows that the job situation in Seattle is very strong—jobs up 3.5% in the past year—so if you invest now it’s probably not yet the peak of the market. In Boise, on the other hand, job growth is now slower than six months ago and the very sharp increase in prices points toward a riskier situation.
Portland is a former high-growth market that may come to a soft landing. Three years ago home prices were rising 12% a year, last year just 5%. With jobs still increasing over 2% a year, which means demand continues to grow, it’s most likely that prices will stabilize but will not fall. In these conditions, investors must be very careful about the price they’re willing to pay for a property and shouldn’t count on appreciation to add to their return. Rents, on the other hand, can be expected to rise slowly, along with income.
Kennewick is a good bet for investors, even though it’s a smaller market and therefore more volatile. Job growth has been good, home prices are close to the "income" price, demand is strong, and home prices are low enough compared to rents that single-family homes can be rented out directly.
Spokane, Idaho Falls, Billings, Cheyenne—despite the occasional surge in home prices, demand in these markets is driven by job growth, which has been low. This means that the location of your rental property is even more important than usual. You’ll want to be near medical centers, colleges, government offices, revived downtown areas. And because there probably hasn’t been much recent construction of attractive properties, it makes sense to buy inexpensive homes to upgrade into a higher rental/sales bracket.
You can successfully invest in any market, but your strategy may be different in each one. The Northwest has a lot of markets that are tricky right now because of a surge in prices; that just means you need to prepare more for the downside. Dynamic markets are a challenge, but that’s often where the best opportunities can be found.
These 2 men were caught on camera using an ATM skimmer to withdraw money from customer accounts in Portland, PPB said, March 29, 2019. (Portland Police Bureau)
PORTLAND, Ore. (KOIN) — Two men were caught on camera stealing money from ATMs using skimmer devices in Portland, police said.
The Portland Police Bureau said Friday afternoon that the men inserted a skimmer device into at least 2 ATMs in the city and withdrew money from multiple customer accounts.
Officials didn’t say which ATM locations were targeted.
If you’ve seen either of the suspects, contact the police.
Hartford, Connecticut (Photo credit: Shutterstock)
In only one of the 20 markets we analyzed for this review—Boston—did percent population over the past three years increase faster than the national rate. Most grew very slowly or, in a good number of cases, the population was flat or shrank.
In addition, the number of jobs in these markets in the past year increased at the average rate in only four. These are not growth markets, not even close. Stagnation is a better description.
Population and jobs are the strongest drivers of demand for housing, so how do you invest in markets where those drivers are absent? It’s not as though there’s no demand for housing here: home prices in some of these markets increased smartly in the past year.
Clearly, we have to assess low-growth markets in a different way than we would markets where people are pouring in. Even in high-growth markets it’s possible to make bad investments, but the chances for success are just better. So, similarly, in low-growth markets it’s perfectly possible to make good investments, you just have to be more careful about it.
One way to be careful, of course, is to invest in the right location. These days that means closer to downtown, or near a college, hospital or retail complex, or by a major transportation access point—a metro rail station or major highway intersection.
In those markets where home prices have recently been flat or down—Hartford, Fairfield County, Atlantic City, with New Haven, Camden and Trenton close behind, where home prices are well below the income price, and where the Home-Price/Rent ratio is low—you may be best off rehabbing a property in a favorable area. You can then either enter the upper-middle rent market, which is less affected by a poor economic climate, or just resell at a higher price.
In down markets like these it’s also a good idea to simply invest in an apartment building. Even though home prices may be flat, rents increase with inflation and local income and could give you a superior return down the road if the local economy picks up again. Just keep in mind that the location is key, and avoid renting in the bottom half of the market, that’s where economic distress can affect both your occupancy rate and your management costs. Low-end renting is a highly specialized field.
In markets with a high Home-Price/Rent ratio—Portland, Boston, the New York area and Newark—the rental and single-family markets are disconnected. It’s very difficult to rent out an expensive single-family home because the number of potential renters with the necessary income is fairly small. Instead, investors can split a single-family home into several rental units, or just invest in apartment buildings. Rehabbing is also an option, but in these markets with low growth, the time and expense to rehab a property or to split one into rental units may not be worth the potential payoff.
The income price gives a final clue about what can be done in markets that remain under-priced almost 10 years after the big recession. Hartford, Fairfield County, Rochester, Syracuse and Camden are significantly under-priced and also have low home prices (Fairfield county splits into the expensive Greenwich-Stamford end and the inexpensive Bridgeport end). With the current economic situation poor and prices so low, you might take a flyer and risk short-term stagnation in exchange for a big payoff down the road. Again, find a property in a favorable location, do minimal rehab, rent into the upper half of the market—and just sit on this one without expectations for five years. Your downside is low, your eventual upside pretty good.
It’s easier to invest in markets that are growing, but people everywhere need a place to live. Within every market there are sub-markets with good potential. You have to work a little harder to find them, you need to think about different ways to invest, but even in the slow-growth Northeast there are plenty of possibilities.
A piece of journalistic advice I’ve heard over and over again is to get out of the office as much as possible. And every time we here at the Business Journal get out of the office, whether it’s for a day of skiing on Mt. Hood or a trip to the grocery store, that advice pays out. Read on to see just how.
The slopes were like glue when when we went up to Timberline to ski on Mother’s Day weekend, essentially marking the end of a pretty solid ski season this year. As we were driving down through Government Camp, I noticed a Bremik Construction sign on some fencing around an old gas station that sits right next to Mt. Hood Brewing Co. on Highway 26.
Curious, I did some poking around at PSU’s real estate conference last week and found out that Mt. Hood Brewing, which is owned by Jeff Kohnstamm — head of the company that runs Timberline Lodge — has a little expansion in mind. Word is that the property is being renovated into an extension of the brewery and will be home to a canning line as well as some kind of a charcuterie operation. Could be a nice little addition to a nice little mountain hamlet.
An expansion of Mt. Hood Brewing Co. in Government Camp will give skiers and other visitors to Mt. Hood another place to sip and snack on the mountain.
Fred Meyer Redo
The already bustling Fred Meyer at Southeast Cesar Chavez Boulevard and Hawthorne is supposedly about to get a little more bustling. My colleague, and frequent PDX REI contributor, Malia Spencer, was chatting with a checker the other day who told her that not only has the store been seeing more crowds since the closing of the Fred Meyer on Southeast Foster Road, but a big remodel is planned to kick off next month that could make the store a little more hectic, at least temporarily. A call to Fred Meyer’s media folks wasn’t returned by deadline, but we’ll follow up.
One of the last Fred Meyer’s to get a big makeover was the Stadium Fred Meyer in Northwest, which underwent a $30 million remake back in 2015.
The Stadium Fred Meyer got a $30 million facelift in 2015. The Hawthorne store may be next.
Wattles returns to the headlines
In case you missed it, Mark Wattles, founder of the formerly Oregon-based Hollywood Video, is back in local news this week. Not only has one of the state’s most successful businessmen decided to put his 32-acre riverfront estate — including the shell of a 50,000-square-foot mansion that’s never been completed — up for auction, but he’s also launched a new coffee company that has some very Oregon inspiration.
You can read about his latest goings-on here and here.
Wattles started Hollywood Video in Portland and grew it into a movie rental giant with some 2,000 stores at its peak. He sold his final stake in the company in 2005 for almost $53 million.
It’s a busy week this week, what with Melvin Mark Companies buying buildings, the unveiling of half of this year’s Fastest-Growing Private 100 Companies and a few other stories. So, let’s get right to it.
‘Poor taste’ Continue reading →
When Miranda Brown comes home to her Beaverton apartment each evening, the lights come on the moment she opens the door. They go off again anytime she leaves.
And not just the lights. Some “smart” outlets shut off, too, preserving power that little gadgets would otherwise suck up. Brown can turn lights or gadgets back on, while she’s away, with an app on her phone. Or she can turn up the heat when she’s lingering in bed on a chilly morning. Continue reading →
PORTLAND, OR — A bomb squad was called Monday to investigate a suspicious package in Portland. Police said the package was found outside a bank in the area of SW 5th and Main streets.
Traffic was closed in the area around 1 p.m. as officers investigate the package, police said. Continue reading →
Stephanie Reyes analyzed 1,379 policies and programs last year, all dedicated to inclusionary housing, the mandatory or voluntary inclusion of affordable housing units as part of market-rate or luxury developments.
One of the insights she came to realize: it’s important for cities to provide certainty in the market about whatever policies they choose to adopt. If developers think they can wait out a policy that the city might change its mind about, they’ll try to. Inclusionary housing policies need to be seen as a permanent part of the regulatory environment before they can work, she says. Continue reading →
Dr. Steven Holt chairs an affordable housing oversight committee for the city of Portland.
We discuss the latest regional business news with Suzanne Stevens, editor of the Portland Business Journal. Continue reading →