All Things Real Estate magazine by All Things Real Estate

Q&A WITH

SERA

MARKET REPORT PINE STREET MARKET

MODERN LOVE FOR

NOB HILL

Mid-Century Design

VOLUME 6, I SSUE 10 â&#x20AC;¢ ALLTHINGSREALESTATEMAGAZINE.COM

EDITORS’

note

We’re back! Welcome to the latest issue of ATRE, now with a new editorial board, but the same engaging, informative and resourceful content for all things real estate, Portland homes and design. This month we feature the open spaces and succinct designs of mid-century modern homes. These centerpieces reflecting a golden era of home architecture lasting from 1945 to the 1980s can be found nationally, but were especially popular on the West Coast. Newcomers flocked to the trademark earthy style, characterized by large, expansive windows to connect with nature, flat leading lines of wood and metal, and multiple elevations to contour with the land beneath. This month we also interview Josh Cabot of SERA Architects where we learn about SERA’s holistic approach to design, and get the scoop on the upcoming SERA-hosted Design Week event on Wednesday, April 26th. We give some love to Nob Hill, known to many as the bustling 21st-23rd Avenues in Northwest Portland. We embark on a walk down this historic street and we highlight our favorite bars, restaurants and coffee shops. As we relaunch ATRE, we’re excited to give you the first edition of our new quarterly Market Report. Our awesome data crunchers have a knack for taking current housing trends in Portland and making the information relatable to interested buyers and sellers. Slowly but surely the snows have thawed, the rain is a bit less apocalyptic and summer is just a couple months away. So grab your copy of ATRE, find your local field of wildflowers and enjoy all things real estate. And as always, we like hearing from you. Please join our community. ATRE

Warm Wishes, The ATRE team hello.atre@gmail.com

2 • ALL THINGS REAL ESTATE magazine

PORTLAND’S ONLY LOCALR E A L E STAT E MAGAZ INE

Editorial HATHAM AL-SHABIBI hatham.atre@gmail.com KELLEY SCHAEFER-LEVI kelley.atre@gmail.com Graphic Designer CASSANDRA CARLSON design.atre@gmail.com Media & Advertising LATHEN GORBETT lathen.atre@gmail.com Contributors GREGORY BOONE KYRA BOYLE J. BROOKS ARIEL CASTAÑEDA EMMA GIBSON TRACEY HICKS DARIUS KUZMICKAS SHANNON MATTIN MARK MCHUGH TABITHA PONCIANO GARRON SELLIKEN BEN WHITE

JOIN the ATRE COMMUNITY Tweet us, tag us or write to us at hello.atre@gmail.com. We’d love to hear from you!

facebook.com/ATREPDX instagram.com/allthingsrealestatemagazine twitter.com/ATREmagazine allthingsrealestatemagazine.tumblr.com is published monthly by MPowered Media. We make every effort to be accurate, but sometimes we make mistakes. Please let us know if you see a needed correction.

ATRE

Photo by: Mark McHugh of MC Imagery. Courtesy of Jim Arnal of Living Room Realty. pdxhomes.com

Printed by MPowered Media 503.683.1440

APRIL/MAY 2017 • 3

ON THE COVER

A curated and clean workspace can make all the difference when getting organized. The cover this month has us thinking about spring cleaning and how to redesign for efficiency at our desks at work and at home. Plus, we love the pops of color and the minimal gallery wall. Photo by KuDa Photography kudaphotograhy.com Courtesy of Suzann Baricevic Murphy & Teresa Catania (w)here Real Estate where-inc.com Architect: Edgar Wilson Smith

4 â&#x20AC;˘ ALL THINGS REAL ESTATE magazine

OCTOBER

FEATURES

Modern Love for Mid-Century Design

If you’ve been wondering why mid-century modern homes and design are so popular, read up on it here.

Modern Love for Mid-Century Design p. 6

ATRE Market Report

Photo by: Ben White Courtesy of Marisa Swenson of Living Room Realty. modernhomesportland.com

Our new quarterly report. What’s the Portland market been up to? Who does it benefit?

Discover: Portland’s Pine Street Market is in it for the long haul and serving the foodie in a hurry.

Neighborhood Spotlight

One of Portland’s hottest historical neighborhoods is the focus this month.

Buyer’s Guide

Not sure where to start? Look here for a little guidance if you’re buying in Portland.

SECTIONS

Design Finds

Design finds from local shops for for the mid-century modern enthusiast.

April/May Events What’s happening in the world of Design, Real Estate and around Portland this month?

Real Estate Directory Looking for local Real Estate resources. Here’s where to look.

DESIGN FINDS p. 8

Q & A with Josh Cabot of SERA Architects

We talk with Josh about endurant design, sustainable design in the event of a disaster, and their upcoming Design Week Portland event. APRIL/MAY 2017 • 5

Modern Love for Mid-Century Design WRITTEN BY: J. BROOKS

Photo by: Mark McHugh of MC Imagery. Courtesy of Jim Arnal of Living Room Realty. pdxhomes.com

t‌ epping inside a mid-century modern home, you immediately know there’s something special going on. You don’t have to be an expert in architecture to appreciate the sense of optimism and purpose, the understated effortlessness. Each home is a nostalgic vision of tomorrow, a glimpse of a vintage future beheld by The Greatest Generation. In short: it feels fancy. That’s because it’s a time capsule that doubles as a work of art and triples as a comfortable place to stay dry. Short of simply marveling at the elegance of feeling like you’re in an episode of Mad Men (which is absolutely acceptable and encouraged), knowing the context of this design style can help you appreciate it all the more. Alongside a record number of American babies, the mid-century modern style was born in an idyllic post-World War II economy (lovingly christened by economists as The Golden Age of Capitalism). Living in a world that had freshly vanquished the Nazis, proud parents kept their eyes forward, toward the promise of a new dawn. This climate was ripe for the adoption of modernist philosophy, which bucks tradition for tradition’s sake and aims to wrap reality in a 6 • ALL THINGS REAL ESTATE magazine

warm hug. This concept was especially enticing since their reality was freshly showered and toting brand new post-war industrial construction gifts like steel and plywood. These new materials added design possibilities for sure, but the most modernist aspects of this style are actually what it removed from a home. A modernist seeks to understand, so why would you hide your post and beam roof with a low ceiling? The beauty of this architecture is found in the form of its function, and mid-century moderns boldly strive to show you everything. There’s a reason we don’t call them mid-century modest homes. Fireplaces often flaunt their bricks from floorto-ceiling, but so will the windows. This is the home’s deliberate invitation to nature and it’s on behalf of those aforementioned baby boomers. Human infants are so often stuck crawling around the square footage of a home. But connecting with nature shouldn’t be a ride with a strict height requirement. Modernist parents (then and now) want their children face-to-face with the natural world and this “windows not walls” philosophy paves the way for just that.

Some mid-century modern floorplans go so far as to feature an atrium in the center of the home, truly treating nature as a member of the family. This concept of inviting the outdoors in is another echo of modernist philosophy, encouraging inhabitants to see the world for exactly what it is. And when your homeland boasts the robust, verdant greens of the Pacific Northwest, this design element is particularly alluring. In addition to allowing nature to serve as art, mid-century moderns took the ax to artifice and unnecessary flourishes, making way for unbroken planes to showcase actual art. Rather than cluttering a home with an abundance of pieces, stark walls were often left white and kept clear, drawing the eye to carefully curated artwork or even an oversize mirror (both are great for reflection). Light fixtures themselves each served as opportunities for unique expression, which is why they were deliberately mismatched in so many mid-century moderns. Original owners of these homes made a statement by choosing the design, but also in how they decorated it (which is always true, but especially so in these cases). Even empty,

the home prompted a sense of contemplation, and when the style was embraced with tasteful restraint, each room evoked something new. That’s why the rolling bar cart was a popular item in many a midcentury modern. Adult beverages could remain at hand as social gatherings progressed from space to space. Photo by: Mark McHugh of MC Imagery. Courtesy of Jim Arnal of Living Room Realty. pdxhomes.com

The next time you find yourself in one of these remarkable homes, take time to fully appreciate how the aesthetic is a landmark of our history and ponder its significance in our national consciousness. Let your eyes wander over the bare supports, allow your mind to linger on the perfect distribution of pressure (and fancy “new” industrial materials) holding the whole thing together. And, if you’re feeling especially adventurous, crawl around like an infant and really steep yourself in the magnificence of that floor-to-ceiling glass. If anyone gives you guff about it, now you can educate them on the finer points of mid-century modern design. ATRE

Get to know the writer: J. Brooks writes articles, essays, stories and screenplays (and has even been known to pen a poem when the muse descends) from a secret bunker somewhere in Los Angeles. Photo by: Ben White Courtesy of Marisa Swenson of Living Room Realty. modernhomesportland.com

DESIGN FINDS

Berlin Mod Pool Print Schoolhouse Electric, $149 schoolhouseelectric.com

Coffee Table 4703 EWF Modern, $395 ewfmodern.com

Trina Floor Lamp Hip Furniture, $310 ubhip.com

Mid-Century Star Doorbell Button Rejuvenation, $29 rejuvenation.com

Eames® Molded Plastic Wire-Base Side Chair Design Within Reach, $329-$349 dwr.com

Stylish Danish Modern Mama and Papa Chairs with Rosewood Legs Look Modern, $3,495 lookmodern.com

8 • ALL THINGS REAL ESTATE magazine

Danish Modern “Conform” Side Table Look Modern, $795 lookmodern.com

Finn Juhl Credenza Design Within Reach, $8,950 dwr.com

ASTRON TRI - Chandelier Rejuvenation, $675 rejuvenation.com

Coffee Table 3803 EWF Modern, $725 ewfmoden.com

Brass Planter Schoolhouse Electric, $65 each schoolhouseelectric.com

Ethan Console Table Hip Furniture, $1,249 ubhip.com

APRIL/MAY 2017 • 9

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805 NW Glisan Street, Portland • theagencypdx.com 10 • ALL THINGS REAL ESTATE magazine

APRIL/MAY 2017 â&#x20AC;¢ 11

FIRST QUARTER 2013

2014

2015

2016

2017

MEDIAN SALE PRICE (APPRECIATION)

$395,000

$370,000

$400,000 $350000

$315,000

$299,900

$300000

$261,000

$250000 $200000 $150000 $100000 $50000 $0

Jan

Feb

March

Jan

Feb March

Jan

Feb March

Jan

Feb March

NUMBER OF HOMES FOR SALE (SUPPLY) 8,000 qty.

7,871 qty.

7,508 qty.

7,000 qty.

7,328 qty.

6,000 qty.

5,844 qty.

5,000 qty.

5,742 qty.

2016

4,000 qty. 3,000 qty. 2,000 qty. 1,000 qty. 0

Jan

Feb March

Jan

Feb March

Jan

Feb March

Jan

Feb March

NUMBER OF HOMES SOLD (DEMAND) 6000 5000 4000 3000

2,145 qty. 1,608 qty.

2000

2,120 qty.

1,708 qty.

1,605 qty.

1000 0

Jan

Feb March

Jan

Feb March

Jan

Feb March

Jan

Feb March

ABSORPTION RATE 36.3%

40 35

29.7%

29.3%

21.4%

20.4%

25 20 15 10 5 0

Jan

Feb March

HIGHER THAN PREVIOUS YEAR

Jan

Feb March

Jan

Feb March

LOWER THAN PREVIOUS YEAR

Jan

Feb March

Jan

Feb March

H E R E ’ S Y O U R Q U A R T E R LY Market Report from ATRE WRITTEN BY: KYRA BOYLE

ere at All Things Real Estate (ATRE), we don’t want you to feel as though you need a PhD in market analytics or a license in real estate to understand what is going on in the market. In this article we will begin by defining some essential market terminology. Next, we will use your new vocabulary to compare first quarter market statistics from the last five years, and tease out some market trends. Lastly, we will put all of those numbers into perspective by introducing you to four families and showing you how our current real estate climate interacts with them on large and small scales.

Demand: The number of homes sold this quarter is lower than it has been the last two years, but only slightly.

Let’s start by breaking down some terminology you’ve likely heard in the past: supply, demand, absorption and appreciation. These are terms Realtors use to describe market behavior. Each one of these factors brings a unique quirk to the table of real estate, and they all work together to create the shape of the market we see today.

Appreciation: Our median home price is at an all time high. This is also probably influenced by competition created by smaller supply and about the same level of demand.

Supply is defined as the number of houses on the market. Demand is the number of houses sold. Absorption is the percentage of number of homes sold over the number of houses for sale. For example, if there are four homes for sale, and two of them sell, then the absorption rate is 50%. Appreciation is the increase in value of an asset (in this case, a house) over time. Appreciation is always a positive number. Investopedia notes that many factors can influence the appreciation of a home, such as an increase of demand in a slender supply, inflation, or shifts in interest rates from mortgage companies. An example of appreciation is an increase in median home price. Of course, this isn’t to say that the value of an asset cannot decrease over time, but that is known as depreciation. This article focuses on appreciation over depreciation, because we are fortunate enough to see appreciation in homes right now.

Absorption: It dipped a little bit in February of this year, but overall our absorption is hovering around 30 percent. The first quarter of 2016 was better, but this is still the second highest percentage in the last five years. Absorption doesn’t tend to have high percentages like the 50% in our earlier example, and a percentage like this is actually quite strong.

Our Conclusion: On a macro scale, the Portland-Metro area is more of a seller’s market than a buyer’s market. Absorption and demand indicate people want to buy homes, and they are willing to pay much higher prices for them, but fewer people are selling. Why is that? This is a tough question to unpack, but we think the current market illustrates two sides of the same coin. If you want to sell your home, you’re going to have to buy another one to live in. Right now supply in the Portland-Metro area is so low that people are scared their home will sell before they can find a new place to live. Of course, this information describes Portland on a very large scale. The market behaves differently in smaller neighborhoods, sometimes even contrary to the overall macro-market. So what does all of this mean for you? Well, it depends upon who you are, and where you’re aiming to go. Let’s break the greater Portland market down into four micro-markets to show how they interact with four different home-buyer scenarios.

Now that we know what we’re talking about, let’s dive into the Portland-Metro market. What is going on? Supply: Inventory continues to tighten. Our graphic illustrates the quarter-over-quarter data for the last five years , and you can see that the the number of homes for sale is continually falling. In fact, the number of homes for sale in March of this quarter is at an all time low for that month. 1

Data is taken from HomeQuest using Market Analyzer. Numbers are averages

taken from the Tualatin/Sherwood/Wilsonville, Lake Oswego, East County, Hillsboro, Milwaukie, Gresham, Outer NW Portland, Inner NE Portland, Beaverton/ Aloha, Portland City Center, Happy Valley, SW Portland, SW Portland/Beaverton, West Linn/Stafford, Tigard, and NW Portland neighborhoods.

APRIL/MAY 2017 • 13

SCENARIO 1: First-Time Homebuyers

SCENARIO 2: Empty Nesters

Rachelle and Lola Pfeiffer are a married couple in their early thirties. Both were born and raised in Portland, and have never lived anywhere else.

Francisco and Maria Rodriguez, 65 and 62 respectively, bought an old craftsman house 30 years ago when their three children were still young. Over the years, they have invested a lot of time and resources into remodeling the four-bedroom, two-and-a-half bathroom home in the Irvington neighborhood. This has especially become easier in recent years, as their children have aged and become financially independent.

“We love Portland. It’s where we want to raise our kids, someday,” says Lola. “We’ve been renting apartments our entire adult lives, but since we got married three years ago we’ve been saving money for a down payment on a house,” Rachelle says. “Lola’s grandfather left her a small inheritance that we’re also channeling towards a down payment.” Both women make $50,000 a year. With combined payments for cars, student loans, and credit cards coming to $1,300 a month, and an allowable debt-to-income ratio of 43%, Rachelle and Lola can afford a mortgage payment of $2,000-$2,200 a month. In the Portland market, with its current interest rates and inflation, all of these numbers translate to a house in the $300,000-$325,000 range. Unfortunately for Lola and Rachelle, a move-in ready house of that value is extremely difficult to find. Any homes in that price range within the city limits are fixer-uppers that the couple may not qualify for, and even amongst those the pickings are slim. As we expand our view past the Portland city limits, there are a few more options in Tualatin, Aloha and Hillsboro, but not many. As median home prices rise all throughout the Portland-Metro area, this market is moving away from first time buyers. Saving up for a higher down payment could help, but depending upon how long that takes the market may slip further ahead once again. For first time homebuyers, Portland is a niche that is slowly being pinched out. “I guess that means we’ll have to move further out from the city center,” Rachelle hums thoughtfully. “That doesn’t have to be a bad thing!”

MLS# of reference listing is 17380606 MLS# of reference listing is 16052311 4 Information provided by Zillow 5 Information provided by GGValues

MLS# of reference listing is 1765087 Information provided by Zillow 8 MLS# of reference property is 17000791

14 • ALL THINGS REAL ESTATE magazine

Maria and Francisco are both still working about 20 hours a week, and their hours are flexible. “We’d love to start traveling, now that we have the time,” says Francisco. “See the world! We’ve been in Portland a long time.” “Taking care of such a large home is getting difficult, anyway,” Maria adds. “Especially when there are no children or grandchildren to help. It would lessen the burden on us!” Ideally, the couple would like a small condo that is easy to keep up with, and in a centralized location that doesn’t require a lot of driving. The couple is interested in moving to the Pearl District, where supply is experiencing a slight uptick and demand is down slightly (a slight buyer’s advantage). Two-bedroom condos in this neighborhood start at $750,000 2 . Fortunately, Maria and Francisco’s remodeled craftsman is valued at $780,000 3 , far more than what they would have paid for it 30 years ago. It is also paid off at this point, which means that any money the couple gets for it will be money they can put directly into the purchase of their condo. When one factors in the price of the condo in addition to monthly homeowner’s associations fees, this transition becomes more lateral move than downsizing. However, in the Rodriguez case, they could pay for a lower-to-mid-priced condo in cash and still have plenty of money with which to begin their traveling adventures. “Who knew a condo could be as expensive as a house?” says Francisco, a little taken aback. “But we can get the condo and still travel!” says Maria optimistically. “And we won’t be cleaning all of the time. I’ll take it.”

SCENARIO 3: Moving Up

SCENARIO 4: New To Town

Kareem and Samira Tahan both work for Intel, and have for several years. They and their two children moved into a three bedroom, three bathroom home in Bethany in 2011. Since then, Samira has been promoted three times and Kareem has been promoted twice. They are now making a combined salary of $220,000 each year.

Rashonda Smith, a talented 45 year old software developer, has been living in San Francisco for more than a decade. She bought a one-bedroom, one-and-a-half bath townhouse in the Potrero Hill neighborhood five years ago for $705,000 4 , and she’s looking to sell and make a one-way trip to Oregon.

“Now we can afford a bigger home that’s closer to town,” says Kareem. “And,” adds Samira with a pleased grin and a hand on her stomach. “We’re going to have to find one with a fourth bedroom, because our family is getting bigger!” Their current home is valued at $420,000 7 — which is great, because they initially paid $360,000 for it. At signing they had a down payment of $50,000, and since then their home has appreciated. Current supply in Bethany is higher than it has been, which might make their current house a little harder to sell. However, demand and appreciation are still strong in the area, so there is no real concern of its not happening. The Tahans have their sights set on a fourbedroom, three-bathroom home in the Forest Heights neighborhood, one with greater overall square footage to accommodate their growing family. Homes with these specifications are priced at about $820,000 8 . Mortgage payments would be higher for Samira and Kareem, and the sale of their current home would only supplement their down payment on this new home, but with their combined higher income this transition should not be a burden for them. There is a good supply in the Forest Heights neighborhood, as well, which will give them options.

“I’m exhausted with the rat race mentality and crowding down here. I left the East Coast to escape that feeling, and it’s followed me to the Bay,” Rashonda confesses. “My job can be done remotely, and I want to move to a city where everything is more laid back and green. I’ve really missed trees and mountains.” Fortunately for Rashonda, her Potrero Hills townhouse is now valued at $1.3 million dollars5 , and her buying power here in Portland is far higher than in San Francisco. A similarly priced home here in Portland, in a neighborhood with access to lots of parks and greenery such as Forest Park, would have five bedrooms and 4,000 square feet 6 . “I don’t need a house that big,” says Rashonda, wide eyed. Then she pauses to consider, tapping her chin. “It is nice to know I’m going to have options, though!” ATRE

That’s a wrap, folks. Thanks for reading, and we’ll be back in July with another market report. Enjoy your spring!

Overall, the market is not favoring either seller or buyer in this case. Things seem to be in a peaceful stasis that could benefit both. Kareem is also grinning now, his arm slung excitedly around his wife’s shoulders. “I can’t wait to start this next chapter of our lives!”

DATA COLLECTED BY: GARRON SELLIKEN & KYRA BOYLE Garron is a seasoned innovator and entrepreneur, dedicated to supporting real estate agents and making their lives easier. He’s the driving creative force behind M Realty and MPowered Media.

Kyra enjoys piña coladas, long walks on the beach and reading books about other people getting caught in the rain. She is also a longtime combatant of the dastardly foe known as Writer’s Block.

APRIL/MAY 2017 • 15

DISCOVER: Pine Street Market WRITTEN BY: KYRA BOYLE

have all had this experience: You and a friend decide to grab some food and catch up, but you can’t agree on what sort of meal you should have. The food cart pods downtown, while varied and unquestionably delicious, get cold and wet in the winter. Neither of you have enough time to go to a sit down restaurant. The food court in the mall does not quite have the atmosphere that you are both looking for, either. The idea of fast-casual dining, where quality food is served at a faster pace than traditional sit-down restaurants, is not a new one. This is especially true in a food-conscious city like Portland, which is likely why food halls have been gaining traction for the last year. Food hall vendors don’t tend to

16 • ALL THINGS REAL ESTATE magazine

pinestreetpdx.com have large menus, focusing instead on perfecting one or two dishes; yet having all of these vendors under the same roof makes for a remarkably diverse menu overall. Additionally, food halls often carry a shared liquor license, so that any alcohol can be carried and consumed between micro restaurants in the common dining space. Insofar as investments go, food halls are not nearly as expensive or risky as opening an entire standalone restaurant. This gives small businesses (food carts, for example) more and better opportunities for expansion and exposure. Each micro restaurant front is designed with the owner’s personal style and flair, something that makes for a multifaceted and exciting overall atmosphere that patrons enjoy being a part of.

Photos by Gregory Boone

Currently there are three food halls in Portland: Pine Street Market, Cart-Lab, and the Zipper. Soon there will also be the Portland Food Hall, and with the trend gaining so much momentum there will likely be more in the future. Having so many different cuisines accessible under the same roof means there is something for everyone in a food hall, which is probably the most genius thing about them. ATRE

Get to know the writer: Kyra enjoys piña coladas, long walks on the beach and reading books about other people getting caught in the rain. She is also a longtime combatant of the dastardly foe known as Writer’s Block.

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APRIL/MAY 2017 • 17

NOB HILL SPOTLIGHT WRITTEN BY: JANE HARTLE

Blue Star Donuts

New Renaissance Bookshop

18 â&#x20AC;¢ ALL THINGS REAL ESTATE magazine

PHOTOS BY: EMMA GIBSON

It’s

“

all here,” says Peggy Anderson of the Nob Hill Business Association, when asked about what sets Nob Hill apart from other Portland neighborhoods.

Nob Hill is the bustling, diverse pocket between Burnside, 27th Avenue, Wilson, and Interstate 405. It is home to libraries, a number of schools, parks, religious institutions, a major hospital, and even an emergency room for pets, as well as countless cafes and boutiques. The neighborhood is an eclectic mix of the old and the new--traditional Craftsman style houses are shuffled in with sleek, modern apartment buildings. New businesses, like Aria Portland Dry Gin, are budding next to mainstays that have stood in the same location for decades. The result is a dense, destination neighborhood, but with affordable retail rents and manageable parking. Northwest 23rd (or “trendy third”) was named “One of America’s Best Shopping Streets” in 2012, by US World Report. “You do have WilliamsSonoma,” Peggy says, “but most of them [the businesses] have five or fewer employees, and are locally owned, and I think that’s what makes us unique.” Child’s Play, the Nob Hill toy store that guarantees smiles and a constantly changing selection of the best toys, has been delighting families with kids for over 35 years. Adults might be more drawn to an evening at Cinema 21, the famous, single-screen movie theater that has its own unique brand and reputation, uniting movie lovers through consistently high quality films. The New Renaissance bookstore, which Peggy describes as a much smaller Powell’s, offers everything from coloring books to meditation classes. Dazzle, a fashionable, locally owned boutique is sure to live up to its name, with artfully curated clothing and sparkling jewelry. There’s something for everyone, whether you’re a permanent resident, or just visiting for the day.

The Fireside

Paper Source

The same is true for real estate in Nob Hill. The area offers such a wide variety of homes--from the Old Portland style houses, with their welcoming porches and beautiful woodwork, nestled throughout the Alphabet district, to the classic red brick apartments, as well as plexes, townhouses, and condos--ensuring there is something for practically any buyer’s taste. New condos and apartment buildings are continuously under construction, providing additional opportunities. “My joke is,” Peggy says, “that I went to a lot of business association meetings all over Portland, but I really liked going to the Nob Hill one.”

ATRE

Get to know the writer: Jane lives in Northeast Portland and writes articles, songs and occasional melodramatic science fiction novels.

APRIL/MAY 2017 • 19

NOB HILL ALSO NICKNAMED “TRENDY-THIRD” AVE, NW AND 23RD

FA C T S DATA COLLECTED BY: SHANNON MATTIN

The Northwest District has 15 acres of parkland and open spaces according to Metro and the Portland Department of Parks and Recreation.

THE MEDIAN AGE IS 34.

Nob Hill is in the Northwest region of Portland with an area of 976 acres and a population of 13,790 (2010 Census)

NOB HILL HAS THE HIGHEST POPULATION DENSITY IN THE CITY

Bill Walton lived in this neighborhood when he played for the Blazers in the 70s. He was the star when the Blazers won the NBA championship in 1976-77. Bill was (and still is) a popular guy in Portland.

Commuting: 15.1% of the neighborhood residents commute by public transportation, 5.8% by biking and 16.8% walk.

PORTLAND IS ALSO KNOWN AS NOB HILL, NAMED AFTER THE FAMOUS SAN FRANCISCO NEIGHBORHOOD. The 4.8-mile loop of the Portland Streetcar system links the Nob Hill neighborhood to the Pearl District, the Downtown Cultural District, Portland State University and the South Waterfront area.

20 • ALL THINGS REAL ESTATE magazine

67 96 89 TRANSIT SCORE

WALKABILITY SCORE

BIKE SCORE

SOURCE: Walkscore.com Get to know the writer: Born and raised in Portland, Shannon spends most of her time with her husband, two boys and their French bulldog Jett. Shannon has a passion for dressing up in cute sweaters and fighting crime after hours.

LIFESTYLE

RESTAURANTS & BARS

Sloan Boutique

Uptown Billiards Club $$

738 NW 23rd Ave. Portland, OR 97210 (503) 222-6666

120 NW 23rd Ave. Portland, OR 97210 (503) 226-6909

A Portland mainstay since 2006, Sloan, and their freestanding shoe store PlaTform next door, take pride in offering a wide array of women’s fashion brands, from the simple to luxurious to the obscure. sloanpdx.com-HA

New Renaissance Bookshop 1338 NW 23rd Ave. Portland OR 97210 503-224-4929 New Renaissance Bookshop, situated in a cozy blue house on 23rd, delivers a vision to provide teachings and resources from all walks of spiritual life, east and west. newrenbooks.com-HA

Corepower Yoga 2277 NW Quimby St. Portland, OR 97210 (503) 226-9642 Core Power Yoga’s approach fits its name: highintensity workouts, classes that push you to your physical and mental limit, and a promise to “sweat your stress” out. corepoweryoga.com-HA

The Fireside $$ 801 NW 23rd Ave. Portland, OR 97210 (503) 477-9505

MBar $ 417 NW 21st Ave. Portland, OR 97210 (503) 228-6614

Southland Whiskey Kitchen $$ 1422 NW 23rd Ave. Portland, OR 97210 (503) 224-2668

Kenny & Zuke’s Bagelworks $$ 2376 NW Thurman St. Portland, OR 97210 (503) 954-1737

638 NW 23rd Ave. Portland, OR 97210

(503) 226-8000 The Chicago-based premier paper retailer’s goal is to “inspire you to do something creative every day,” with creatively designed cards, stationery, journals and all things paper. Is your journal all filled up? Try their wide selection of memory holders. papersource.com-HA

Open-air dining and an outdoor patio round out the warm environment, serving creative dishes and delicious drinks. Try the Sweater Vest to keep the cozy vibe going. pdxfireside.com-HA

Intimate and incredibly cozy, this hidden gem serves up wonderful wines and libations - great for a romantic night out. Coffee shop by day, den of romance by night.-HA

Portland’s small corner of Southern hospitality, with simple food and a diverse whiskey selection to boot. Get your messy napkin BBQ fix with the Texas Brisket Sandwich. Southlandportland.com-HA

Boiled in water and salt, rolled by hand and adorned with fresh toppings. How can a quick breakfast get any better? Try the potato salad our staff goes there specifically for it. kzbagelworks.com-HA

COFFEE & TEA

Coffee Time Paper Source

Tucked into Nob Hill for over 20 years, Uptown Billiards does a seamless job intertwining ‘laid back’ and ‘fun’ with ‘upscale,’ combining a pool table-laden, dive bar atmosphere with a five-course, top-notch menu and a diverse collection of wines and drinks. uptownbilliards.com-HA

712 NW 21st Ave. Portland, OR 97209

(503) 497-1090 Dragonfly Coffee House 2387 NW Thurman St. Portland, OR 97210

(503) 224-7888

With its whimsical, fairy tale doorways and benches, delicious coffees, fresh pastries and late-night hours, it’s always time for Coffee Time. Grab a latte and curl up in the den to the left through the main doorway, and bring a book. - coffeetimepdx.com-HA

Grand windows flooding with sunlight will light up your latte. Dragonfly is locallyowned and keen on being your friendly neighborhood coffee spot. Try the Shot in the Dark to double up on your espresso. thedragonflycoffeehouse.com-HA APRIL/MAY 2017 • 21

A GUIDE FOR

Every Buyer WRITTEN BY: TABITHA PONCIANO

hether you are looking for a first home, investment property, or purchasing your dream home, buying real estate can, at times, be a difficult process to navigate. Here are a few tips for any home or investment property buyer.

First Time Home Buyers:

• Consider all of the costs. Aside from the monthly mortgage payment, make sure you have a financial grasp and budget for what it takes to own a home. Ask a Realtor about what steps to take in building a sound financial portfolio. This will help guide your home search. • Make a wish list. Talk/meet with your Realtor and discuss what you are looking for in your home, and what neighborhoods you are interested in. Their job is to get to know you and meet your needs, so don’t be alarmed if they suggest an area or home you haven’t yet considered. • Don’t judge a book by its cover. Same goes for a house. Visit the property in person, look around, and visualize the potential. When you buy a house, it’s not just a place to live, it’s an investment. • Make a reasonable offer. When it comes to negotiating with the seller, the three most important matters are information, preparation, and realism.

Investment Properties/Flippers:

• Find the right neighborhood. It’s important to know the dynamics of a neighborhood. Are most homes owner occupied or do some rental properties exist? Location is also key when it comes to tenant retention and happiness. • Be aware of local rental regulations. It is a safe assumption that you’ll need to bring your

22 • ALL THINGS REAL ESTATE magazine

property into accordance with local rental regulations prior to earning any income from the property.

Luxury Real Estate:

• Learn about the search process. Many luxury homes go unlisted to protect the seller’s privacy. By hiring a local, luxury real estate specialist, you can use their connections to identify which homes are for sale, and meet your search criteria. • Consider the financing. The loan process for luxury homes typically takes longer than for smaller mortgages. Since it can take extra time, you will want to be pre-qualified early in your home search process. • Thoroughly inspect any property you are considering making an offer on. In many cases, luxury homes are larger and have amenities that may require specialized home inspectors.

Second Home or Vacation Property:

• Choose your location/destination carefully. You’ll want a place for you and your loved ones to gather that is easily accessible and offers a variety of activities for everyone to enjoy. • Buy under your budget. If you are planning on hiring someone to maintain your house while you are at your primary residence such as landscaping, there will not be much wiggle room in your budget to afford it. • Understand the tax implications. A qualified real estate agent should be able to provide details about taxes in the area, and possibly even tips on ways to save, such as buying just outside the city limits. ATRE

Get to know the writer: Tabitha immigrated to the US from the Philippines when she was twelve, and came to Portland for college. She graduated from Lewis & Clark in 2015, and has since worked in the realm of marketing, digital and print.

APRIL/MAY 2017 â&#x20AC;¢ 23

Let’s Talk with Josh Josh Cabot, of the holistically-focused firm SERA, talks Design Week Portland and ‘Endurant Design’

INTERVIEW AND INTRODUCTION BY: ARIEL CASTAÑEDA teaming meals are served as works of art as the twilight transforms iconic Mt. Hood in the distance from pure white to a pink glow. Bicyclists of all types and color flash by, would-be dull street intersections come alive with their vibrant painted murals. This is Portland, where the evergreen trees are the only constant; where change is driven by the fearlessness to create, and design principles live at the core of the city’s ethos. April’s Design Week Portland (DWP) brings creation and design full circle. DWP is a weeklong series of programs that focus on the process, craft and application of design and design principles in all forms of media imaginable. Its mission is to increase appreciation and awareness of design’s

24 • ALL THINGS REAL ESTATE magazine

impact on community development, education systems and the economy. SERA, an architecture firm founded in 1968 in Old Town Portland is organizing a DWP event on Wednesday, April 26th. The event, titled “Endurant Design,” offers designers and the general public an opportunity to dig into the potentials of using resilience as a design concept, both in how it can help to more effectively bounce back from large scale disasters, and build community and prosperity. We recently spoke with Josh about SERA’s upcoming DWP event, Endurant Design and how resilience drives planning for a sustainable future in the event of disaster.

AWARDED TO SERA 2016 CODA Award in Education DJC 2015 TopProjects First Place Winner for Public Building 2015 AIA COTE Top Ten Award AIA Committee on the Environment Top Ten Award Society for College & University Planning Excellence in Architecture Merit Award

Can you tell us more about the DWP event on April 26th?

What local projects is SERA particularly proud of?

SERA does a Sustainable Action Celebration every year and we saw DWP as an opportunity to invite the public in to see what we’ve been up to and to hear what they’re passionate about, particularly when it comes to creating a more resilient Old Town. We wanted to do an active event that gets everyone acting as designers. Our Principal Planner here at the office, Tim Smith, has a process called “Civic Ecology” which envisions urban spaces as ecologies with people as another resource within the interconnected web.

Well, one of the biggest projects we have done recently, along with CO Architects, was the Collaborative Life Sciences Building located in the South Waterfront area. You can’t miss it if you’re driving along I-5 or biking across the Tilikum Crossing; it’s silver and, frankly, has a commanding presence along the river. That building won many awards for its environmental performance. (Awards shown above).

Top-down design is never as effective as getting people from a range of backgrounds into a room to map out their urban ecology, and so this is a chance to open our doors, roll up our sleeves and have fun dreaming about a more resilient future for our neighborhood. What will be the identity of Old Town in 2035? How we can make it more resilient in the face of sudden natural disasters as well as the slower moving stressors of gentrification, homelessness, etc. Resilience as a design concept gets really interesting when you start to look beyond just the looming threat of “The Big One,” a.k.a. a Cascadian Subduction Zone earthquake. While we are definitely committed to working with our clients and consultants to design structures strong and flexible enough to resist earthquakes, that’s just one step. We also need to consider how a building can still perform in the absence of outside power and water sources, whether that’s through maximizing natural light, or capturing storm water for instance. These kinds of strategies offer great benefits in the aftermath of a disaster, but the cool part is that they conserve resources and make for better more livable buildings in the meantime.

We sought to be very mindful and considerate of the day lighting, ventilation, and the materials that were used. I think the most fundamentally unique aspect of this project is the way the spaces of the building are designed to bring together students, researchers, practitioners and the general public in an effort to deliberately promote social interaction, and hopefully collaboration. This is especially apparent in the bright and airy atrium with crisscrossing walkways that spill into breakout spaces where people can run into each other and, well, collaborate! In terms of sustainability, this project reclaimed an existing brownfield, it manages storm water with green eco-roofs, and uses non-potable grey water for toilet flushing, which conserves water while also using much less energy for a building its size.

Pearl District Residence Inn

APRIL/MAY 2017 • 25

Alpine Avenue Festival Blocks, McMinnville

From where do you draw your inspiration as an architect? I’m really inspired by the robust resilience of nature, and how these lessons are out there for humans to internalize and build into our repertoire. One of the many interesting things we’ve been doing at SERA lately is a research and development effort on “Biophilia.” The idea is to understand the human desire to be surrounded by nature and natural phenomena, like the sound of rainfall or images of leaves and branches or having a distant vista. These sorts of phenomena tie us back to our natural and primitive nature, and we’re finding more and more scientific research to back up the positive effects of these connections. From there we try to weave these concepts into our designs, which helps fuel our creativity while hopefully providing an even greater benefit to the users of these spaces. For instance, you may have seen the remodeled Edith Green-Wendell Wyatt Federal Building in downtown Portland, in which we sought to take advantage of as much natural light as we could. We actually slanted ceilings downward away from the windows in order to bring sunlight deeper into the offices. Then, we added a metallic lattice of fin type elements to break the light up, reduce glare, and avoid overheating the building when the sun is low in the western sky at the end of the day. This allows the building to lower its power bill and helps the employees enjoy their time at work by connecting just a bit more with the natural world outside of their offices. Josh Cabot is a Senior Job Captain at SERA, who helps to manage the creation of design documents, serves as a point person for clients and consultants, and observes progress and helps coordinate onsite efforts with contractors. SERA operates today on three primary scales of design: interior design, architecture, and urban design and planning. SERA has three guiding principles that drive their design efforts: supporting human health and wellness, effectively managing resources (such as energy, water and waste) and creating timeless, enduring places for people. seradesign.com 26 • ALL THINGS REAL ESTATE magazine

What other DWP events interest you? One event I really want to go to is called “Show Show” at the Alberta Rose Theater on Tuesday night of Design Week. Melody Rowell is a local comedian in town who produces, and I guess it happens a few times a year. “Show Show” basically mixes live stand-up comics mashed up with locally made animations that they interact with in the background. I hear that this particular event will be about the stuff behind the scenes. How is “Show Show” made? What is their process? Sounds fun and pretty interesting. I also have to plug an event on the same night as ours called “Let’s Talk Transparency,” which a few folks at SERA are helping out with. It delves into the topic of health and environmental product declarations that we as designers are increasingly insisting upon to make sure we’re providing healthy environments for our clients and their users. I have to say that everyone at SERA loves Design Week, there’s just so much to see! We love learning about other creative fields; we definitely don’t just stick to architecture. ATRE

We thank Josh for speaking with us and we hope you take the opportunity to create, collaborate and grow at Design Week Portland. Events take place April 21st - 29th, for locations and details go to www.designweekportland.com

EVENT DETAILS: Endurant Design Located at: SERA Architects 338 NW 5th Ave. Portland, OR 97209

Wednesday, April 26 5:00 PM to 8:00 PM

Get to know the writer: Ariel is a foodie who enjoys drawing, painting and graphic design, all while re-watching her favorite indie films. Although her hobbies keep her indoors, she has two mutt pups who take her out on daily walks.

ModernHomesPortland

MARISA SWENSON 971-285-7955 ModernHomesPortland.com

APRIL/MAY 2017 â&#x20AC;¢ 27

28 â&#x20AC;¢ ALL THINGS REAL ESTATE magazine

APRIL/MAY 2017 â&#x20AC;¢ 29

April/May Events April 15

Old House Revival Tour

April 21 - 29

Design WEEK

Portland locations

City Wide

Get renovation ideas by visiting 7 restored, historic homes on the self-guided Old House Revival Tour. bit.ly/historichomepdx

Design Week Portland includes an expensive program April 21 to 22, an opening party April 22, hundreds of free or cheap events April 23 to 29. bit.ly/designweekportland2017

April 22 - 23

VARY

April 25 - 26

Orchid SHOW

Dance of ARGENTINA

SE Portland

Arlene Schnitzer Concert Hall

See thousands of blooming orchids on display and for sale at the Oregon Orchid Show & Sale, billed as the largest orchid show in the Pacific Northwest, at Ambridge Event Center. bit.ly/pdxorchidshow

The 14 men of Che Malambo demonstrate fast-paced footwork inspired by the rhythm of galloping horses and the drumming of traditional Argentine bombos at Arlene Schnitzer Concert Hall. bit.ly/danceofargentina

April 29 - 30

Kayak & Canoe EVENT

May 4 - 7 Locations Vary

Attend classes and demos both days of the Spring Paddle Festival at Vancouver Lake Regional Park, plus a Saturday evening Jantzen Beach Jamboree with music, food, and beer. bit.ly/kayakandcanoeevent

Bridgetown Comedy Festival showcases hilarious local and nationally known comedians in bars and theaters in the East Burnside area. bit.ly/bridgetowncomedyfestival

May 5 - 7

Bicycle Film FESTIVAL

May 13 Waterfront Park

See short films about bicycling at Filmed by Bike at the Hollywood Theatre, whwich in 2016 included an opening-night street party at Velo Cult Bike Shop. bit.ly/bikefilmfestival

Doggie Dash is a 1.5 or 2.5 mile untimed walk/run that begins and ends at Tom McCall Waterfront Park, with vendor booths, live music, children’s activities, food for sale, and canine contests. bit.ly/movewithdogs

May 13

WOMEN’S Run

May 13 - 14 Crystal Springs

Hippie Chick Quarter Marathon, 15K & Half Marathon is preceded by a kids’ race and followed by a breakfast at Hillsboro Stadium. bit.ly/womensrun2017

Mother’s Day Show and Sale is a rhododendron show and sale at Crystal Springs Rhododendron Garden. bit.ly/mothersdayflowershow

May 18 - 21

May 20

UFO Festival

Lake Oswego

The UFO Festival honors two locals who spotted UFOs, with a costume parade, speakers, movie, live music, and kids’ fun at McMenamins Hotel in McMinnville. bit.ly/ufofestival

The Lake Oswego Historic Home Tour features four historic homes within walking distance, starting at Oswego Heritage House. bit.ly/historichomestour2017

30 • ALL THINGS REAL ESTATE magazine

FREE

Lake Oswego HISTORIC HomeTour

McMenamins Hotel

VARY

$40

Mother’s Day FLOWER Show

Ron Tonkin Field

VARY

$89

Move with the DOGS

Hollywood Theatre

VARY

Comedy FESTIVAL

Vancouver Lake Park

FREE

VARY

$30

REAL ESTATE

DIRECTORY CLEANUP & RECYCLING Betty Benson Rubbish Works of Portland (503) 928-6894 portland@rubbishworks.com rubbishworks.com/portland

LENDERS

PHOTOGRAPHERS

REALTORS®

Matt Jolivette, CMC®

Darius Kuzmickas KuDa Photography (503) 616-4474 darius@kudaphotography.com kudaphotography.com

Emily Corning Real Estate Broker Premiere Property Group, LLC (503) 704-9431

NMLS# 90661

Associated Mortgage Brokers NMLS# 86136

(503) 545-8843 matt@associatedmortgage.com mattjolivette.com

Emily Marlow Senior Mortgage Specialist Directors Mortgage NMLS# 1154733 • MLO# 1154733

DESIGN Mosaik Design & Remodeling (503) 406-6179 mosaikdesign.com

(503) 708-5002 EMarlow@directorsmortgage.net directorsmortgage.net

Amy McMullen Amy McMullen Photography (503) 913-9165 amy@amymcmullen.com amymcmullen.com

PLUMBERS Spade and Archer Design Agency (503) 841-7506 spade-archer.com

Steph Noble Mortgage Consultant, NMLS-129002 Guild Mortgage Company

Meticulous Plumbing® (503) 208-2812 fax (503) 208-2813 meticulousplumbing.com

emily@premierepropertygroup.com emilycorning.premierepropertynw.com

AnnaMarie Davault Remax Equity Group (503) 310-7465 am@AnnaMarieDavault.com AnnaMarieDavault.com

Erin Lolcama Portland Digs Real Estate (971) 506-4595 - Direct (503) 239-7400 - Office erinlolcama@gmail.com erinlolcama.com

NMLS-3274, OR-ML-176

(503) 528-9800 steph@stephnoble.com stephnoble.com

INSURANCE

PROPERTY MANAGEMENT

Michael McEnery Pacific Insurance Partners (503) 357-7111 ext 77 michael@pacificinspartners.com pacificinspartners.com

Richard Voss Principal Broker/Owner Windermere Peninsula Realty Group & Voss Property Management & Associates (503) 286-5826 - Office richard.voss@windermere.com windermereprg.com vosspropertymanagement.com

LIGHTING Kay L. Newell Sunlan Lighting, Inc. (503) 281-0453 kay@lightlady.com sunlanlighting.com

LENDERS Darren T. Balogh NMLS Individual ID 85417

Mortgage Loans Northwest, a division of Premier Mortgage Resources, LLC Company NMLS # 1169

(503) 504-2979 darren@mortgageloansnw.com pmrloans.com

ORGANIZERS MaryJo Monroe reSPACEd (971) 226-6055 info@respacedpdx.com respacedpdx.com

Marsha Zimmerman Oregon Licensee 200308196 M.L.K. Property Management & Support Services, LLC. (503) 760-0088 marshaz@mlk-pm.com mlk-pm.com

Randy Rutherford Oregon Licensed Broker/Consultant Hasson Company Realtors® (503) 939-6682 randy@hasson.com randyrutherford.hasson.com

David Smith The Force Realty (360) 362-9103 david@nwrealproperty.com nwrealproperty.com 205 SE Spokane St Ste 353A Portland, OR 97202 4400 NE 77th Ave #275 Vancouver, WA 98662

APRIL/MAY 2017 • 31

Brent Lucas Branch Manager Guild Mortgage Company Phone: (503) 2104121 Fax: (503) 4449004 blucas@guildmortgage.net www.guildmortgage.com/officers/brentlucas NMLS #: 590610

Guild Mortgage Company is an Equal Housing Lender; Company NMLS # 3274. The information provided herein has been prepared by a third party company and has been distributed for educational purposes only. The positions, strategies or opinions of the author do not necessarily represent the positions, strategies or opinions of Guild Mortgage Company or its affiliates. Each loan is subject to underwriter final approval. All information, loan programs, interest rates, terms and conditions are subject to change without notice. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction.

I am authorized to conduct business in the state of Oregon and Washington. ML176