Distressed Home Sales Drop to 10-Year Low in US

Distressed Home Sales Drop to 10-Year Low in U.S.

According to ATTOM Data Solutions Q3 2017 U.S. Home Sales Report, distressed home sales — including bank-owned (REO) sales, third-party foreclosure auction sales, and short sales — accounted for 12.5 percent of all home sales in Q3 2017, down from 13.5 percent in the previous quarter and down from 14.1 percent in Q3 2016 to the lowest level since Q3 2007.

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Daren Blomquist

“Distressed sales nationally are now the exception rather than the rule, and we would expect the distressed sale share to return to the pre-recession norm of single-digit percentages within the next year given the current downward trajectory,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. “Distressed sales have become more localized

... read more at: http://www.worldpropertyjournal.com/real-estate-news/united-states/irvine/attom-data-solutions-2017-us-home-sales-report-daren-blomquist-distressed-home-sales-data-2017-reo-sales-report-home-foreclosure-data-2017-10620.php

On the market: What it cost to buy in Oregon’s top 15 school districts (photos)

Parents are known to make sacrifices to make sure their children attend good schools. They squeeze their finances, give up shorter commutes and say goodby to longtime neighbors to move to preferred school districts.

Residents without children in public classrooms place a premium on school quality, too.

Homes for sale in well-regarded school districts sell faster and are valued higher on average than those in below-average school districts, according to real estate research.

In this week’s real estate gallery, we show you what it costs to buy a home in Oregon’s highest-ranking school districts as determined by Niche, an online database that considered test scores, teacher quality, graduation rates, and student and parent reviews.

We combed through real estate listings to find homes in a range of prices, sizes and styles, from condos to mansions, within these school districts’ boundaries. Realtor.com gave us housing market statistics based on one zip code within each

... read more at: http://www.oregonlive.com/hg/index.ssf/2017/10/oregon_best_school_district_ho.html

Central Oregon’s housing crunch forced people to camp in high desert. Now they must leave.

The Central Oregon Irrigation District dug a trench at the most popular access point to its undeveloped land. Homeless people are being evicted from the land, where some have lived for seven years.

Their make-shift community, home to people desperate for a place to live as Central Oregon rents soar, reveals the distinct nature of rural Oregon homelessness. Thirty percent of the state’s homeless population is concentrated in Multnomah County. But the most explosive growth in percentage terms is outside of the Portland area, where social services are sparse.

Unlike in Portland and other West Coast cities, homeless people rarely panhandle in downtown Redmond; instead, they are mostly dispersed to the outskirts and often invisible. Nor is their lack of housing mostly linked to mental health conditions, addiction or both. In federally mandated surveys, more than 50 percent of unhoused Portlanders say they contend with those challenges.

... read more at: http://www.oregonlive.com/pacific-northwest-news/index.ssf/2017/10/central_oregons_housing_crunch.html

What it cost to buy in Oregon’s top 15 school districts (photos)

Parents are known to make sacrifices to make sure their children attend good schools. They squeeze their finances, give up shorter commutes and say goodby to their longtime neighbors to move to preferred school districts.

Residents without children in public classrooms place a premium on school quality, too.

Homes for sale in well-regarded school districts sell faster and are valued higher on average than those in below-average school districts, according to real estate research.

In this week’s real estate gallery, we show you what it costs to buy a home in Oregon’s highest-ranking school districts as determined by Niche, an online database that considered test scores, teacher quality, graduation rates, and student and parent reviews.

We combed through real estate listings to find homes in a range of prices, sizes and styles, from condos to mansions, within these school districts’ boundaries. Realtor.com gave us housing market statistics.

According to Niche, out of 197

... read more at: http://www.oregonlive.com/hg/index.ssf/2017/10/oregon_best_school_district_ho.html

Another Bayside condo project goes to Portland Planning Board

A 45-unit condominium complex proposed in East Bayside faces a public hearing and possible vote in Portland on Tuesday.

South Portland developer Vincent Maietta said if the estimated $13 million project is approved, he plans to break ground next spring.


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“We’ve had quite a bit of interest in it,” Maietta said. “It’s got fabulous sunset views over Back Cove and White Mountains and the city of Portland skyline.”

The condos at 218-220 Washington Ave. would be built in a four-story, 45-foot-tall building on steeply sloped land near the Interstate 295 off-ramp, across from the Eastern Promenade intersection with Washington Avenue. The site has a single-family house, which would be demolished.

It’s an example of how developers are looking to even the most challenging sites, including hillsides, to build housing to accommodate the demand to live on the city’s peninsula.

That

... read more at: http://www.pressherald.com/2017/10/10/another-bayside-condo-project-comes-to-portland-planning-board/

Four-story 45-unit condo project approved for East Bayside

Portland planners have approved a four-story, 45-unit condominium complex in Portland’s East Bayside neighborhood.

The Portland Press Herald reported the $13 million project, on steeply sloped land at 218-220 Washington Ave., is expected to break ground next spring.

City spokeswoman Jessica Grondin told the newspaper the project was approved with conditions, one of which requires Portland developer Vincent Maietta to pay $461,000 into the city’s housing trust fund.

The approval comes on the heels of the City Council’s vote to sell four city-owned parcels in Portland’s Bayside neighborhood, to be redeveloped in mixed-use projects, for nearly $4 million. Earlier this month, the PPH reported the parcels will be sold to the following developers: Jack Soley; Tom Watson Co. LLC; and Barrett Made, a design and building firm. Developer Nathan Szanton and Bayside landowner Ross Furman are being recommended to buy and develop a small parcel surrounded by property Furman already

... read more at: http://www.mainebiz.biz/article/20171011/NEWS0101/171019987/four-story-45-unit-condo-project-approved-for-east-bayside

How winning the race to be Amazon’s second headquarters could turn out to be a curse

As the dozens of cities lustily bidding for Amazon’s second headquarters parade their smart citizens, housing capacity, transportation connections and tax breaks this week to lure Jeff Bezos’s empire, the sometimes painful housing-market lessons of Seattle — the e-commerce giant’s home base — has become a factor of its own in this race.

The housing market must be a major consideration as metro areas march forward in their pursuit and Amazon makes its pick, say real-estate experts, especially as it relates to Amazon’s

AMZN, -0.38%

... read more at: http://www.marketwatch.com/story/amazons-second-headquarters-could-be-curative-or-curse-for-winning-citys-real-estate-market-2017-10-19

RioCan and Allied Announce Results of Condo Marketing Program …

TORONTO, ONTARIO–(Marketwired – Oct. 17, 2017) – RioCan REIT (TSX:REI.UN) and Allied Properties REIT (TSX:AP.UN) today announced that the residential condominium units at King Portland Centre are substantially sold out, subject to customary closing conditions and rights of rescission. RioCan and Allied expect the profitability of these units to exceed initial expectations.

King Portland Centre is located at the northwest corner of King Street West and Portland Avenue in the heart of Toronto’s King West neighbourhood. In addition to the strength of its location, the development is unique, in that it will incorporate a restored heritage structure, 602-604 King West, with a substantial new mixed-use structure. The combined structures (at 100%) will be comprised of the following:

  1. approximately 59,000 square feet of office and retail GLA in the heritage structure, which is fully occupied;
  1. approximately 256,000 square feet of additional office GLA in the new structure, which is 93% pre-leased

    ... read more at: http://www.marketwired.com/press-release/riocan-allied-announce-results-condo-marketing-program-king-portland-centre-torontos-tsx-ap.un-2237437.htm

This Toronto building shows why developers are converting rentals to condos








Photo: King Portland Centre

This week, a major new development’s condo units sold out, just days after they went on sale. But those same units had originally been designated as rental, before the new rent control legislation led the developers to have a change of heart.

On Tuesday, RioCan and Allied Properties announced that the condo units at the downtown Toronto King Portland Centre — 133 units which went on sale just a few days before, on October 14 — where substantially sold out.

“The strong response to the sales launch… this past weekend affirmed the decision by RioCan and Allied to convert the project from rental to condominium,” writes RioCan CEO Edward Sonshine, in a statement.

... read more at: http://news.buzzbuzzhome.com/2017/10/toronto-building-converting-rentals-condos.html

Amazon’s second headquarters could be curative or curse for winning city’s real-estate market

As the dozens of cities lustily bidding for Amazon’s second headquarters parade their smart citizens, housing capacity, transportation connections and tax breaks this week to lure Jeff Bezos’s empire, the sometimes painful housing-market lessons of Seattle — the e-commerce giant’s home base — has become a factor of its own in this race.

The housing market must be a major consideration as metro areas march forward in their pursuit and Amazon makes its pick, say real-estate experts, especially as it relates to Amazon’s

AMZN, -1.04%

... read more at: http://www.marketwatch.com/story/amazons-second-headquarters-could-be-curative-or-curse-for-winning-citys-real-estate-market-2017-10-19