You Can See Russia From Here


Not really, but you do have sweeping South East views from the living room, bedroom and private deck. Enjoy views of the city, Willamette river and Mt. Hood. This spacious one bedroom plus den condo is in the LEED Silver Encore Condos. Sophisticated kitchen with gas appliances, quartz countertops and island. High ceilings and hardwood floors throughout make the space feel light and bright. Large master bedroom with custom walk in closet. Parking and storage included. Walk to all the best in the Pearl and take advantage of the Fields Park as your backyard!


949 NW Overton St #1213, Portland OR 97209

OFFERED AT $575,000

1 BEDROOM | 1 BATH | 1,032 SQFT
MLS# 18632877 | TAXES: $6,436 | HOA: $385

Tax Reform and Homeowners

Lets talk about taxes.  This is one of the most asked about topics I have gotten in the past few months.  The large tax reform bill will directly effect homeowners.  As of yesterday afternoon the Senate budget committee has voted to send their version of the tax bill to the Senate floor later this week for a vote.  The House version of the bill passed last week.
The tax bill proposes big changes to the the ability for homeowners to deduct real estate taxes and decreases the amount of the mortgage interest deduction.  The Senate bill eliminates the SALT (State and Local Taxes) deduction all together, while the House bill caps this at $10,000.  The Senate bill will continue to allow taxpayers to deduct mortgage debt up to $1 million, while the House version caps it at $500,000.
Both bills also aim to change the definition of capital gains for the purpose of selling a primary residence.  The current law requires a homeowner to live in the house for 2 out of the last 5 years to qualify for the exemption.  Both the House and Senate bills increase this to 5 out of the list 8 years.
This is a moving and changing document.  Republican legislators are aiming to have the bill completed and passed by the end of the year.  The articles below give a great layout of the additional differences between the two bills and how they differ in dollars to you.

Portland Luxury Home Market

The increasing number of wealthy buyers coming to Portland has energized the luxury market. From 2015 to 2016 in Portland home purchases above $800,000 have increased 21.5% and above $1,000,000 the increase is 27%.  Luxury Portfolio International projects 25% of the wealthy in the US plan to purchase real estate in the next 3 years and globally 45% of the wealthy plan to purchase in that time frame.

In Portland luxury is defined by location, history, architectural significance and is generally above the $750,000 price point.  While prices continue to increase in Portland this $750,000 price point is beckoning more common place in desirable neighborhoods.

See the Article Here

Apartment Boom is Beginning to Slow Rent Growth in City Core

Over the past two years it seems there have been cranes on every corner and they were all building new apartments.  As most of these apartments are coming to market renters in the city core are feeling a little relief in the search for a rental home.

The number of units that have been completed recently are creating a slight renters market.  These new apartments are offering move in specials and concessions.  Established rental buildings are being forced to follow suit to attract renters.  This is a much needed change from the explosive rent growth over the past few years in Portland.  A cooler rental market leads to more opportunity for first time home buyers to prepare for a home purchase through savings and credit strength.
Read the OregonLive Article