Portland developers try to ease homeless crisis that they helped create

Developer Tom Cody lost all the ground-floor retail tenants of his building on the Northwest Park Blocks and he thinks he knows why.

Customers avoided the tents, tarps and backpacks that filled the leafy corridor north of Burnside. In turn, his tenants looked for shops without dozens of people sleeping or hanging out in front at all hours of the day.

It’s not the first time Cody saw his business jeopardized by the city’s 4,000-and-growing homeless population.

His firm has developed 33 projects, some up to $300 million – some in neighborhoods where tensions with the homeless population run high. He opposed a preliminary plan for a homeless shelter campus near another one of his Northwest Portland properties, a 300,000-square-foot creative office development.

But now he’s part of a business-led movement to do more than complain to City Hall or file lawsuits. He and two other high-profile real estate families have donated empty buildings

... read more at: http://www.oregonlive.com/portland/index.ssf/2017/07/business_community_takes_bigge.html

Portland developer shifts apartments to condos, signals upscale rentals cooling

The developer behind a 63-unit housing project in Portland has changed course, deciding to sell the units as condominiums rather than rent them as apartments.

Vincent Veroneau, president and chief executive officer of J.B. Brown Sons, said the decision to redirect the project at High and York streets was made mostly because other apartment projects have absorbed some of the pent-up demand.

“We sort of felt the market-rate housing has been somewhat satisfied with other projects,” Veroneau said.

It’s the latest example of aborted plans to add rental housing units in Portland, and suggests the city’s rental construction boom may be slowing after an infusion of apartments aimed mostly at the high end of the market.

Portland leaders have been eager to add rental housing after a shortage of units led to rapid rises in rents and historically low vacancies that forced some people to leave the city. The average rent for a

... read more at: http://www.pressherald.com/2017/07/10/developer-shifts-apartments-to-condos-says-upscale-rentals-cooling-in-portland/

How Long Does It Take to Buy a House? Use This Handy Timeline to Plan Ahead

How long does it take to buy a house? It’s a big question, especially for people who hope to time their home purchase with when their rental lease is up. Or before the start of school. Or when you’re closing on the sale of your old home. Or any number of other time-sensitive situations you’re trying to manage. While timing a home purchase is tricky and will vary based on a variety of factors, many experts estimate that you should expect the home-buying process to take a minimum of four months.

Talk about a long slog, eh? Yet there are good reasons why buying a home is no impulse purchase. To help illuminate what’s going on, here’s a rundown of the various stages you’ll encounter to help you time your house hunt just right.

Stage 1: Getting mortgage pre-approval

Your first step shouldn’t be toward all those exciting open houses; it should be to a lender, presuming you need a mortgage

... read more at: http://www.realtor.com/advice/buy/how-far-in-advance-should-you-shop-for-a-home/

Luxury: Maine estate on private 86-acre island listed for $7.95 …

A 25-minute boat ride from Portland, Maine, this estate on Casco Bay comes with more than just a three-bedroom, six-bathroom, 11,000-square-foot-plus main house.

Its $7,950,000 price tag also includes the 86-acre island on which it sits — Hope Island — along with a boathouse with an apartment; a barn with apartments; a carriage house; a tavern; a chapel; a stable; and a variety of other buildings. As you might assume, the home boasts some pretty incredible water views.

According to the Portland Press Herald, a developer named John Cacoulidis is the owner and purchased the property in in 1993 for $1.3 million, spending 24 years turning the island into its current state.

The island, with 11,050 feet of water frontage, has a rocky coastline, as well as sand beaches, a deepwater pier, and eight ponds.

In the main house, you’ll find two full stories and an unfinished basement. The kitchen

... read more at: https://realestate.boston.com/buying/2017/07/10/maine-estate-set-private-86-acre-island-listed-7-95-million/

Luxury: Maine estate on private 86-acre island listed for $7.95 million

A 25-minute boat ride from Portland, Maine, this estate on Casco Bay comes with more than just a three-bedroom, six-bathroom, 11,000-square-foot-plus main house.

Its $7,950,000 price tag also includes the 86-acre island on which it sits — Hope Island — along with a boathouse with an apartment; a barn with apartments; a carriage house; a tavern; a chapel; a stable; and a variety of other buildings. As you might assume, the home boasts some pretty incredible water views.

According to the Portland Press Herald, a developer named John Cacoulidis is the owner and purchased the property in in 1993 for $1.3 million, spending 24 years turning the island into its current state.

The island, with 11,050 feet of water frontage, has a rocky coastline, as well as sand beaches, a deepwater pier, and eight ponds.

In the main house, you’ll find two full stories and an unfinished basement. The kitchen

... read more at: http://realestate.boston.com/buying/2017/07/10/maine-estate-set-private-86-acre-island-listed-7-95-million/

Saddleback reaches ‘historic deal’ for ski resort’s future

The Saddleback ski area outside Rangeley is expected to finally be sold, after not operating for the past two winters, and even members of the local group that says it lost out on its bid to buy Maine’s third-largest ski resort is welcoming the development.

The buyer will be introduced at a news conference being held Wednesday at the ski area by its owners, Bill and Irene Berry, who called the prospective sale a “historic deal.”

Skiers ride the South Branch chairlift at Saddleback in December 2012. The ski area's need for a new chairlift to the summit was originally cited as the reason for its shutdown in 2015.Skiers ride the South Branch chairlift at Saddleback in December 2012. The ski area's need for a new chairlift to the summit was originally cited as the reason for its shutdown in 2015.

... read more at: http://www.pressherald.com/2017/06/27/saddleback-reaches-historic-deal-for-resorts-future/

Fast Track to Skyrocketing Real Estate Prices: The New Public-Transit Effect

New York City homeowner Tina Larsson watched for nearly a decade as a new subway station was built right across the street from her brick midcentury co-op on Manhattan’s Upper East Side. The excavation blasts shook her walls and sent dust spewing into the air; the noise and disruption choked off business to once-busy restaurants and shops.

It was, in short, a terrible mess.

Then in January, the heavy construction machinery suddenly disappeared, the sidewalk scaffolding was taken down, and the endless clutter seemed to vanish overnight. After nearly a century of starts and stops, the $4.5 billion Second Avenue subway—one of the nation’s most notoriously delayed large-scale transit projects—was finally open for business. It was sleek, modern, and even festooned with original Chuck Close portraits. Now, Larsson, 51, and many of her longtime neighbors, are finally ready to reap the real estate rewards.

Prices in Larsson’s building have shot up about 60% over the last three years—a bonus for existing

... read more at: http://www.realtor.com/news/trends/public-transit-effect-real-estate/

For sale: 6 breathtaking summer beach houses

Scarborough, Maine. Set on the dunes of Pine Point Beach, this five-bedroom home overlooks the Atlantic Ocean. The three-story house has an open floor plan, seven bathrooms, a gourmet kitchen with a large sitting area, and a master suite with an office area and a private deck.

The 0.6-acre property is part of a gated community 20 minutes from Portland. $2,295,000. David Banks, RE/MAX, (207) 831-8033.

Lakeside, Michigan. Lying along Lake Michigan, this property offers access to 570 feet of water frontage. The single-story, three-bedroom contemporary home has walls of windows, three fireplaces, high ceilings, and a sunroom.

The 2-acre wooded lot sits within a private enclave with

... read more at: http://theweek.com/articles/707455/sale-6-breathtaking-summer-beach-houses