Erika's Pearl News
Winter 2023
Erika Wrenn Urban Real Estate
Hello Again
Pearl Market
After a pause during the pandemic, I am so excited to start a fresh newsletter in hopes of reconnecting and providing the best and most current real estate and neighborhood information. As the creator, I benefit immensely. The rewards come with a deeper sense of interest in our community and a better understanding of the market dynamics, the businesses in the area and examples of urban life experience.
In the past, the condo market has demonstrated increased buyer interest, activity and absorption when inventory in single family remains tight. We are beginning to see this trend in the lower price range. Pending sales are picking up in the Pearl market
My intention, in addition to the real estate information, is to highlight the energy and commitment of those creators and business people who add such vitality and value to the urban landscape. If you know a resident or business that should be featured, please let me know!
Pearl Stats Altos Report
Erika Wrenn
What does this mean for you? Looking at the demand overall in the Portland market, this Spring may be more active than anticipated . If you need to or have been considering listing, a pre-listing conversation may be a good plan of action.
Please email me at erika.wrenn@where-inc.com or call at 503-312-9770. pdxurbanproperties.com Week of March 6, 2023 Report Link Here! @erikawrennpdx 503-312-9770 erika.wrenn@where-inc.com
My Pearl community is the foundation of my business. It provides the enduring energy that fuels my enjoyment and success as an urban real estate broker. As a Pearl District resident I have been able to demonstrate the enriching experience of living the urban lifestyle over the last decade, I have learned in a real way what it feels like to be a condo owner, a community member and an individual connected to my Pearl District neighbors.Best! Erika Wrenn Principal Broker-Pearl Resident
Erika's Real Estate Action Pending - 1001 NW Lovejoy St. #410
Winter 2023
Pending - 8700 SW White Ct.
Metropolitan
$895,000
$840,000
Pending - 1130 NW 12th Ave. #410
Testimonial "When we decided to sell our home, Greg and I both knew we'd choose Erika Wrenn as a our trusted advisor. Erika's extensive knowledge, guidance andprofessionalism throughout the entire process resulted in a fast and seamless sale from preparation Janken all the way through to the signing. With Erika's integrity and work ethic, we knew we could focus on our jobs and moving to our new home and she'd take care of all the details and let us know what needed to done next in the process. Erika goes above and beyond for her clients and her community - Thank you, Erika!!" Tracy V
Bridgeport
$339,000
TBD
Success in all Price Ranges!
Sold- 1001 NW Lovejoy St. #1501
Sold- 1001 NW Lovejoy St. #1312
Sold- 758 NW 12th Ave.
Metropolitan
Metropolitan
Johnson St.Townhouses
$1,500,000
$625,000 $1,300,000 $1,300,000
$975,000 $1,000,000
Sold- 1025 NW Couch St. #1411
Sold- 820 NW 12th Ave. #322
Sold- 1926 W Burnside St. #1502
Henry
Riverstone
Civic
$975,000
$625,000
$610,000
$1,000,000
$610,000 This is not meant to be a solicitation if your home is currently listed.
@erikawrennpdx 503-312-9770 erika.wrenn@where-inc.com
pdxurbanproperties.com
Pearl District Business Spotlight
Winter 2023
Janken Recently opened and located in the former Blue Hour space, Janken is a wonderful addition to the neighborhood and already a popular spot. The design and decor is all about the soft light and glow. Chef Rodrigo Ochoa, from Florida and trained out of Miami's hot spots, is a gift to Portland.The menu is inspired by Korean and Japanese cuisine. The rice dishes are aromatic and flavorful, the sashimi and nigiri are amazing and the bao buns are a must order! The setting is relaxing and mellow yet has a nightlife vibe. 250 NW 13th Ave. For more information visit the website. jankenrestaurant.com
Farmhouse Kitchen Pearl "Upon entering Farmhouse Kitchen Thai Cuisine, guests are transported to the streets of Thailand." Neon lights saying" Hello Gorgeous" and flowers draped above add color and great vibes. Strategically centered, the bar creates a festive environment. Recently at lunch with mortgage broker Julie Peterson, she enjoyed the Holiday Lunch Set with a choice of three items for $25. I had the savory Pad Thai with chicken. On my next visit, I will expand my culinary options. As an example, the February dinner special is Khao Ka Moo - an aromatic five spice pork shank with sauerkraut Thai style. 121 NW 9th Ave For the full menu and more information visit the website. farmhousethai.com
Republica and Matutina Established in 2020, Republica was a break out hit! Winning awards and creating an immediate following, the eatery offers incredible culinary dishes from Mexico's various regions with a tasting menu format by Chef "Lalo" Camarena. Recently, Republica announced a relocation to a new space in the Pearl. I am thrilled this treasure is committed to our community. 100 NW 10th Ave For more information on the restaurant and mission visit the website. republicahospitality.com In 2021, the group opened Matutina. The new cafe offers breakfast and lunch items with Mexican sourced coffee roasted by the group called Reforma. The pastries are fresh and made from multigenerational Mexican recipes with names like Pan de Muerto and Puerquitos. 803 NW Couch St. For information on the full menu see website. panaderiamatutina.com
@erikawrennpdx
503-312-9770
Do you have an experience you want to share about a business, business person or individual in the neighborhood? Please let me know!
erika.wrenn@where-inc.com
pdxurbanproperties.com
Market and Lifestyle Trends
Erika's Recs
Winter 2023
New Podcast Recommendation! City cast is a new podcast about Portland. The mission of City Cast is "to make podcasts and newsletters that connect people to the cities they love" The content of the podcast has been great with a variety of interesting stories and great history of our city.
2023 Local and National Anticipated Market Trends https://portland.citycast.fm
Erika's Happiness Hack! #1 Connecting to your community is one of the fastest ways to experience joy. Next time you have minute reach out to a neighbor you have not seen in a while, join a committee in you HOA or neighborhood association. Your local coffee shop is a sure place to chat!
Portland Metro RMLS Condo February Report
1. Mortgage rates will begin dropping in mid to late 2023. 2. Local and federal government agencies will make housing a priority. 3. The Portland market will continue to see low inventory even as more units come on the market as demand will still outpace inventory. 4. Affordability is the main theme across the country and locally. 5. Matthew Gardiner Windermere's economist forecasts rates around mid5 percent by Q4 of 2023. 6. Buyers have begun to come back slowly into the market in late January/February.
A Higher Purpose for Vacant Properties?
EcoNorthwest -2023 State of Downtown and Central City
2023 Rose Festival Rose- 'Smiles For Miles'
@erikawrennpdx
"As office gradually recovers over the years, downtown's roles as a center of housing, culture, entertainment and education must be elevated. The shift in roles is a significant one that will demand a new vision, strategy and competent implementation for recovery of a vibrant and livable downtown."
503-312-9770
erika.wrenn@where-inc.com
"We have too much retail space and too many office buildings, and not enough residential units or modern industrial space. That is the inescapable conclusion from our many discussions with leaders across the industry, as summarized in the preceding pages. There also is not enough developable land on which to build all the housing and warehouses where needed. Hmmm, maybe there’s something to that." Urban Land Institute 2023 EMERGING TRENDS IN REAL ESTATE® Oregon Business and Industry Growth & Innovation Roadmap link
pdxurbanproperties.com