Amazing panoramic views that will take your breath away!
For a private showing of this beautiful penthouse 26 floors above it all, call me at 503-896-8856.
Check out this beautiful waterfront condo!
Brad Golik is a condo specialist with Total Property Resources and LuxuryCondosofPortland.com . You can reach Brad to arrange showings at 503-896-8856 or email at firstname.lastname@example.org
The market is slowing down…and not just a little! This is not a bad thing. In fact, I think it is very healthy for the market and helps us avoid a big tumble in the market.
Here are a few interesting numbers that support what was just said….
Inventory: Inventory in the area I focus on, from Pacifica Tower just north of the Freemont Bridge to South of South Waterfront, inventory levels are up 21% since June 1st! That is a pretty big jump in such a short period.
Price reductions: Since July 1st, in the Pearl District, 40% of the listed condos reduced their price.
Days on Market: This one is a bit tricky. Days on market has gone up but one must look at this stat carefully. There is a recent trend that is happening more and more. In a practice that I do not believe in, agents will cancel a listing and then re-list it. It is an attempt to make a listing look “fresh” and show less days on the market to buyers. This is why we must look at Cumulative Days on Market. Now if an agent has it on the market for a month and then cancels and re-list it, the number will reflect those 30 days prior.
What this means in the marketplace? For buyer’s, there is not such an urgency to make a quick offer. Buyer’s are able to look around for the perfect place and have a much better foot to stand on at the negotiating table. For sellers, trying for a premium price may hurt you as your condo may stay on the market longer than it should and in the end it may sell for a lower amount than it would have if priced correctly.
An example of this is one I believe I have discussed on my blog. A little over 4 months ago I went to a Broker’s open house on a beautiful penthouse unit. At that time, the agent listed it for $3,550,000. The agent, knowing that I specialize with condos, asked for my opinion on price. I clearly remember my answer: “ I think it needs to be at $2,999,000 and I think it will sell a little below that.” Well today, after 2 price reductions, it is now priced at $2,995,000. But now, after 4.5 months on the market, you will probably get the sharks swimming around it ready to offer $2,600,000. (It has actually been on the market much longer with another agent that was priced even higher!) … again, this is where you need to look at cumulative days on the market!
Moving forward in this new market, correct pricing will be very important in the sale of your condo or loft!
Any agent can continuously reduce pricing of a condo…and at some point, it will sell! Our goal is not to just sell a condo but to maximize the price for the seller and still sell in a reasonable amount of time. There are many agents out there that do little to no marketing for their listings because they believe it will sell on it’s own by just being in the MLS (see Redfin) Some think they can get away with only point and shoot photos and that is the extent of their “Marketing”. I am here to say that as things slow down an agent must get that listing in front of buyer’s and buyer’s agents as often as possible. I have seen many agents get fired because of their lack of advertising a listing… I have yet to see an agent fired because they did too much advertising! Now, doing a lot of advertising does not mean that is the best route. But when you combine a good quality campaign around a listing, feature it often in a classy, professional way, I believe the quality of the offers, not just the quantity of offers that come in will also be better!
Brad Golik is a condominium specialist with Total Property Resources and LuxuryCondosofPortland.com You can reach Brad at 503-896-8856 or by email at email@example.com
It’s that time of year for many, graduation! How does that relate to real estate? For those newly empty nesters, it may mean that it is time to downsize. Many of the condo buyers I have worked with over the years were in this very same position. One of the common dilemmas they each face is if they are able to go from a 3,000—4,500 square foot home , down to a 1,300—2,000 square foot condo. Now the one thing many are giving up is a spacious yard…sometimes this is a blessing in disguise. Many decide they are ok spending more time on the golf course and less time pulling weeds!
Adjusting to smaller spaces. The one thing I always ask potential buyer’s is where do they spend their time in their current house? The most common answers…the kitchen, the family room and the master bedroom. This my friends is a condo! Do you really need that 3rd and 4th bedroom? Do you really need that 1500 square foot
finished basement that rarely gets use? What most people find is that they can easily adjust to the smaller spaces and what they really enjoy is the new benefit of more time to be doing what they enjoy and less time slaving over a large yard.
Another added perk to condo living… nearby restaurants! While many of you may enjoy your time in the kitchen, after years of trying to figure what to cook for your family every night, it is nice to have the option to just go down an elevator and walk to you favorite eatery!
Another thing I see with those that choose to downsize, selling the big home in the suburbs and buying two smaller condos. Many buy a condo in the downtown area and possibly a second in areas like Palm Springs or Scottsdale Az. Now this may be a luxury for many, but as the kids leave home, many are ok with having a little more “Me Time”.
Brad Golik is a condominium specialist with Total Property Resources and LuxuryCondosofPortland.com
You can set up condo tours with Brad by calling him at 503-896-8856
Follow us on either Instagram ( #pearlcondos ) or on our condo blog ( TheCondoPulse.com ) and get your chance to win a $100 gift card to Brix Tavern in the Pearl District! Winner will be drawn the end of April…don’t miss out on a chance to dine at one of the Pearl Districts “Favorite” places to eat!
Check out The Elizabeth here: Elizabeth condos for sale
Have an interest in one of Portland’s stunning penthouse units? To see the new penthouse listing at The Elizabeth, priced at $3,650,000, call Brad today to set up a private viewing of this unique space.
Brad Golik is a condo specialist with LuxuryCondosofPortland.com and Total Property Resources. He can be reached at 503-896-8856 or at firstname.lastname@example.org
We have not seen many new penthouses come onto the market lately in the Pearl District but we should see a nice one come on by the end of this week and it is in one of my favorite buildings, The Elizabeth. This 15th floor Elizabeth penthouse will be priced at $3,650,000 (so I have heard) and offers 3,443 square feet of living space. If you are in the market for a beautiful penthouse in the heart of the Pearl, give me a call and be one of the first to see this unit!
I mentioned that The Elizabeth is one of my favorites and the reason behind that is that it is a building with a ton of details and character! John Carroll, the developer, does some of the best designs in the city and is a developer that actually spends the money for the extra touches that set his buildings apart from the others. Recent development in the Pearl, including Hoyt Properties Vista, seem very vanilla in comparison with not much thought about the architectural aesthetics involved. Even now, as Carroll introduces his newest project, The Dianne, touches of quality design can be seen, even on this building that has been built to house those wanting to rent instead of buying.
Last night as I drove by the Dianne, I noticed that even the lighting on the building gave it a dramatic look that we have not seen in the last several developments in the Pearl. Like buildings before, such as The Gregory and The Elizabeth, you see touches of detail that often get eliminated by most developers that try to squeeze every penny from the development. On the Elizabeth, you notice many details when you walk around the building starting with its trademark entry doors. Then you notice the tremendous amount of the wrought iron designs all around the building that give the Elizabeth its character. These were a tremendous extra cost to the developer that he could have avoided and increased his profits. Instead, this developer choose to make a lasting impact on a great neighborhood that also has much character. For that, I say thank you to developers like John Carroll!
Brad Golik is a condominium specialist with Total Property Resources and LuxuryCondosofPortland.com. You can reach him at 503-896-8856 or at email@example.com
If outdoor living is important to you, here is a condo that is a must see! This Pearl District loft has 2 decks, the first on the main level, while not large, it does offer enough space for the BBQ and it’s close to the kitchen. The second deck offers enough space for both a sitting area and dining area and has views of the Freemont Bridge as well as the city lights to the South. Kick back and enjoy your outdoor time with a glass of wine and a comfy fire! To see this beautiful, 2 level unit at Streetcar Lofts, call Brad Golik at 503-896-8856
How were the numbers for condominiums in 2017? Stay tuned as we will be posting year end numbers on Portland’s condo, loft and townhome markets!
Brad Golik is a condo specialist and can be found at his new company Total Property Resources. You can reach him at 503-896-8856 or at firstname.lastname@example.org Visit his awesome website at http://www.LuxuryCondosofPortland.com .