Daily Real Estate News  | August 19, 2010  | Share

Three Reasons to Buy a Home Now
Stocks are up 50 percent from the March 2009 bottom. Some commodities have risen dramatically. The only asset class left in the cellar is real estate, says Michael Murphy, editor of the New World Investor stock newsletter.

As a result, Murphy is advising investors to buy now for these three reasons:

• Desperate sellers: Both home owners and lenders are eager to unload a flood of foreclosed and underwater properties. Buyers with the patience to push through these complex deals can save a bundle.

• Little competition. Because most people don’t have what it takes to negotiate their way through short sales and REOs, patient investors are winners.

• Low rates. Mortgage rates are at their lowest level in 40 years. If you believe inflation is inevitable, lock in now.

Source: MarketWatch, Michael Murphy (08/19/2010)

This 1925 bungalow was completely overhauled and is practically an all-new home. Meticulously restored by a talented craftsman, this house features beautiful hardwoods, custom built-ins, a big kitchen with slab granite and wood cabinets, a wood-burning fireplace with custom mantle, and a luxurious master suite. The yard is private and lush, with distinctive landscaping and a patio. The location is great, convenient to I-5 and light rail and also super-close to the heart of Kenton.

Details:
3 bedrooms plus den/office
2 full bathrooms
1838 finished square feet
Detached garage
ML# 10067615
Listed at $329,000

Call Tim at 503-317-4312 to see this vintage gem.

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OPEN SUNDAY 2-4! This lovely updated bungalow at 9231 N Trumbull is an urban farmer’s dream.  With a house that’s been updated from top to bottom and a sunny extra lot, you will have plenty of time for tending to the garden and chickens.   Painstakingly restored original unpainted woodwork, pretty fir floors, and a culinary school grad’s kitchen (really!) complete with tons of concrete counter space, stainless gas appliances, and sunny breakfast nook.  A comfy family room down and dog run fit for Prince Fido are icing on the cake.  4br/2ba, 1954 sf, $309,000.  Call Katrina for a private showing 503-891-8319 or come see Jaime on Sunday (503-730-7205).

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You might recognize Holst Architecture’s style when you think of the Clinton Condominiums, the Thurman Street Lofts, or the new Sunrose Condos on E. Burnside.  The Meranti Lofts by the same firm are equally cool in that simple, industrial modern, yet warm, kind of way.  There are currently two residential units in this small condo building that are available at ridiculously low prices. 

For a starting price of only $179,000 you can have a sleek corner unit w/ 2 bedrooms, 1 baths and 1,139 square feet.  Or, for $239,000 there’s a 2-level, 3 bedroom, 2 bath in 1,283 square feet.  

Both have concrete radiant heat floors, stainless steel counter tops, white walls, and a spread of windows with awesome southern exposure.  Walk or bike to all the yummy Division Street offerings, or step out your door to public transit. 

These are available on auction – please call Amber for details:  503-804-1261

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There were many great listing on broker tour today so I wanted to share my personal broker tour awards for 8/17/10.  If you see anything in my list that you would like to take a look at please give me a call at 503-730-7205 or email me at jaime@livingroomrealtors.com, I’d love to show you around these wonderful homes:

Best in Show: 1530 NE Liberty St.  Listed at $375,000 this 1915 Craftsman lives larger than it’s 2678 square foot with 3 bed, 2.1 baths and so many updates that I can’t even begin to list them all.  The house has really been totally updated and loved by it’s current owners.  Many thoughtful green choices were made during the remodel process such as dual flush toilet and low VOC paints.  The highlights are the new wood windows, large front porch, new gourmet kitchen with eating area and beautiful built-ins.  Listed by Noel Jackson at The Hasson Company.

Best in Class/Mid Century:  6420 NE Cesar E Chavez Blvd.  Live out your mid century dream in this ranch priced at $399,900.   Full of original finishes waiting to be revived this 1958 ranch with full basement has TONS of POTENTIAL.  The main floor boasts three bedrooms and two original full baths with hardwoods under the carpets throughout, spacious living room and formal dining area as well as a family room off the kitchen and fireplaces up and downstairs.  The basement has potential for separate living quarters or rad party room and entertaining space.  This 2662 square foot ranch sits on an oversized corner lot just two blocks from Fernhill Park and a short walk to Kennedy School, New Seasons, and Alberta Street.  Listed by Andrea Johnson with RE/MAX Equity Group.

Stay tuned for more NE Portland picks coming soon…