The Portland Condo Blog

Posts tagged “The Casey Portland

Certified Condominium Specialist (Press Release April 9, 2014)

Brad Golik of Windermere Northwest and LuxuryCondosofPortland.com has distinguished himself in the field of (luxury) condominiums and townhomes sales by earning the prestigious Certified Condominum Specialist® designation. This national designation is given to select real estate agents who have demonstrated the specialized education, market knowledge, competence and experience in successfully and effectively listing and selling condominiums, townhomes, and other forms of common interest developments (CID).

The certification and designation are offered by the Council of Condominium Specialists®  which is the national, premier independent authority in assisting real estate professionals in providing high quality service and superior market expertise to the buyers and sellers of condominiums and townhomes (CIDs).

Brad Golik is the first real estate agent in Oregon to receive the Certified Condominum Specialist® designation!

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The designation indicates the recipient real estate agent has worked diligently to complete essential real estate training and has met specific performance standards to demonstrate expertise in their local condominium/townhome (CID) market to provide the high quality real estate services his clients deserve. Real estate sales are a complex and challenging field to begin with,” said Candy Peak, Director of the Council of Condominium Specialists®, “but selling a property that is in a common interest development (CID), which involves both an individual and shared ownership in real estate, such as a condominium, townhome, planned development or any other property that is part of a homeowners association, requires an agent with the specialized real estate knowledge and expertise to professionally navigate a buyer or seller through the intricate path of common interest development ownership and sales.

“My commitment is to provide outstanding service to my clients,” said Golik, and “the Certified Condominium Specialist® designation ads additional benefits for my ability to meet the needs of condominium and townhouse buyers and sellers in my area. My membership in the Council of Condominum Specialists® Network also provides me with the marketing tools and networking capabilities that bring added benefits to my clients.”

For current information on condominium and townhome sales in your neighborhood and to receive a market evaluation on your property, contact Brad Golik at 503-896-8856 or through email at pdxluxcondos@gmail.com . You can also visit http://www.LuxuryCondosofPortland.com

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Working with a Condo Specialist!

Today I saw a listing come on the market that prompted me to write in my blog on the topic of working with a specialist. The listing was a condo in the Pearl District that came on the market priced at $1,699,901.  (901?) Well the 901 is not the issue…interesting, but not the issue. The issue is the crazy price! This is a floor plan I know very well. It is also a floor plan that has MANY comps to support the pricing and where it should be. The o2 stack in this particular building has had 2 sales in the last year and 3 recent pendings. I currently have some buyer’s coming into town that will be looking in the $1,000,000 price range and this could be a perfect unit for them… except for one thing, the price! I called and spoke with the listing agent to see if there was a typo on the pricing ( yes, I really did!) He said to me that the pricing is correct. I asked him how he came up with the pricing on this unit. He told me that a unit (#1002) just went pending at $1,999,000 (and finally sold for $1,837,000)  Well this is an 02 stack but it is also over 500 sq. ft. larger with many additional amenities to it.  The agent had 5 very good comps to use and selected the one that doesn’t make any sense!  The 02 units with the exact same floor plan as this particular unit sold for: #202…6 floors lower…$825,000, #602…2 floors lower…$899,000. 2 of the same units also just went pending (perfect comps!!!) #302 went pending priced at $925,000 and unit #502 went pending priced at $975,000. Now something can be said that the high priced unit is on a higher floor and looks over the apartment building next door, certainly worth an extra $100,000 over unit #502. The Casey Portland I did question the agents reasoning on his pricing and mentioned that I would probably not show it to my out of town clients because it was so overpriced. His comment to me “That’s fine”. Really? When a property is so overpriced, reasonable negotiations are often very hard to come by, either the seller is not realistic or the seller’s agent has given the seller unreasonable expectations and then the seller won’t move off of their price. Well the topic of this blog post was “Working with a specialist”. The agent in this case is not a condo specialist and is in fact an agent from Hillsboro. In his defense of pricing, he told me that he has priced plenty of properties! This may be the case but he has NOT priced many downtown condos. What is the problem that seller might have by not working with a specialist? Well in this case. This unit runs the risk that it will not get shown because of my reasoning above. When it doesn’t get shown over time, the price must come down. What will probably happen here is the agent will drop it $100,000, and it still won’t get shown so he will drop it another $100,000 and it still won’t get shown. At this point the listing starts to become stale and it loses all of it’s WOW factor. Eventually. The price will get down to where it should have been to start. At this time you will start to get the lowball offers because it has been on the market for so long and it ends up selling for well below where it should have sold if it where priced right from the beginning. This agent clearly does not understand pricing in the downtown condo market… much as I would not be an expert in pricing Hillsboro properties!  In addition, because this agent doesn’t normally work with condo buyers, he doesn’t have the marketing in place that has been targeting condo buyers for any length of time. To me, this is a BIG reason to select a condo specialist to represent you in the sale of your condo or loft! If you are a buyer and would like to see this beautiful unit, my advice to you, be patient! The price will come down. Call me and I will fight for a price that is realistic and makes sense for both you and the seller. http://www.LuxuryCondosofPortland.com http://www.BradGolik.com


Portland Penthouse Update!

Portland Penthouse Update How are Portland penthouse sales going since the beginning of 2014? There has been some recent activity in penthouse units that have been on the market for sometime now. Last week, the two remaining penthouses at Encore got offers and are now in a Pending status. Unit #1606, priced at $1,850,000 and unit #1604 priced at $1,580,000. These units have been on the market a long time but patience may have paid off for the developer as these two units when sold will still have gotten over $650 a square foot. ( will keep you posted when they do close). In comparison, Unit #805 at Pacifica Tower was finally sold. Originally priced at $1,500,000, the agent then dropped the price $150,000 after only 1 month to $1,350,000. The sale closed last week at $1,228,900 … or only $455 a sq. ft.! This was a massive 18% off of the original list price! This is only slightly higher price per sq. ft.  than a couple of the regular units recently sold for at Pacifica! I am not sure why the agents at Pacifica were not able to get something closer to the numbers the two penthouses at Encore got. Sure, Pacifica is not in the Pearl, but $200 a sq. ft. difference is HUGE for VERY comparable penthouse units! PenthouseUpdatePacificEncore Other penthouses that are still on the market vary from the very attractive unit #901 at Waterfront Pearl which offers over 3,100 sq. ft and priced at $1,850,000 to the grossly overpriced penthouse unit #1601 at The Civic. The Civic unit, with only 2102 sq. ft, and located in what is not the best location is priced at $1,450,000. In my opinion, this unit is at least $200,000 high…maybe more. And the recent sale of the unit at Pacifica, with fantastic water and bridge views… and 2700 sq. ft and selling at only $455 a sq. ft. is going to kill any hopes of the owners getting anywhere near it’s list price of $1,450,000!   If you are in the market for a Portland penthouse or other Portland luxury condominium, please give us a call and we will set a tour for you to view Portland’s finest condominiums! Give me a call today at 503-896-8856.


Park Central – Pearl District

Today I went to a luncheon put on by Hoyt Street Properties that was an introduction to their newest proposed project, Park Central in the Pearl District. The Park Central high rise building will not only be the newest condominium  building to come to market, it will also be the tallest. Park Central, as it is in the works now, will rise to 28 stories with the top 3 levels being the penthouse levels. At 350 feet tall, it will easily be the Pearl Districts tallest condo building to date.  Plans for this new Portland high rise are lofty as it will be the most expensive condominium in the Pearl District with prices rising to over 700 per sq. ft.

Over and over again, buyers talk about the importance of outdoor living space. Park Central will not disappoint! With many homes featuring an atrium like deck space for maximizing the natural daylight.  Also, your outdoor living space will be incomparable with the podium level rooftop garden area. With outdoor fireplaces and sitting areas to expand your outdoor living space from the confines of your own condo. BBQ with friends on the pleasant summer evenings 4 floors up from the hustle and bustle on the streets below. The outdoor living space on the rooftop of  podium level offers a secure and comfortable space for residents to enjoy.
Park Central OutdoorSpaces

Today’s meeting was in part, a time for the developers to learn from agents what it is that their buyer’s want the most.  With a building in the price point where it is expected to be,  Park Central will have to have it all! Harwood floors throughout, high quality appliances, quality fixtures, cabinetry that is of the best quality, fireplaces and unique floor plans that will have some “Wow” factor when you walk in the door!

If you currently live in the Pearl District and think that this could be a building for you, don’t hesitate to give me a call. I can give you a good market analysis of your current condo or loft.  In terms of buying a unit at Park Central, let me work to negotiate the best deal for you. Remember. The on-site agents with the developer are there to sell you a condo but they are working for the best interest of the developer. I am there for YOU! If you are currently living in a house and thinking about downsizing, I would be happy to sit down with you and discuss all of the positives and negatives of condo living! Don’t think of it as downsizing so much… how about funsizing!
Park_Central_Condominiums
Keep in mind, we are still very early in the starting phase of this project. Move in dates are still most likely two years out. The developers are still trying to gage the market on what it can afford and for what buyers want in a new luxury condominium. As a condo specialist with a focus in the Portland luxury condominium market, I would be happy to assist you along the way from when the developer begins taking pre-sale orders all the way through until move in!


On Site Real Estate Agents

This week I was at a coffee shop in the Pearl and was sitting outdoors while doing a little work. While checking emails, a lady at the table next to mine, after seeing some real estate marketing on my table, asked if I was a realtor. After I said yes, she told me that she lived in a nearby building and that she had a friend that was thinking about selling their condo. Naturally, I asked if her friend had an agent selected to sell it? She said that she was thinking about using one of the “Building” agents. What she meant by this was that she was talking to one of the “on site” agents that works for the developers. She mentioned that she was going to use them because … in her words, “They really know the building!” It turns out that this agent also lived in the building.

While speaking with this very nice lady, it was interesting because she kept asking me some very good questions. One of the first things she asked me was whether it was really important or not to really know the building? My answer was NO! As a condo specialist, I make it my business to really understand and get to know each building but when selling a condo it is way more important to know how to market that building. With that said, I got out my tablet and showed her what I meant. I asked her to think like a buyer and then asked her a few questions. When we did some searches I pointed out many of my websites that showed up in those searches. I also pointed out that when we did some searches in regards to her building, this other agent that “really knows the building” was no where in site. More importantly, none of her listings showed up either! This is not uncommon with the onsite agents at these newer buildings. You will not find one of them that shows up with high rankings on Google or Bing. Most of these onsite agents don’t do a very good job of marketing. Part of the reason is that they typically don’t have to as the developer pays for all the marketing for new sales. When it comes to using one of these agents for resale, they are not the best choice for selling your condo.

Pearl District condos

Agents that specialize in selling condos (some…not all) spend much time, energy and money to insure that they show up on Google and Bing because that is where condo buyers are looking. I personally have many websites that show up because that is how I get my clients listings in front of buyers. When a buyer knows they like  the Metropolitan, they will do some research on the building. They will check to see what the amenities are, what the HOA fees might be. This is where my listings show up. In front of serious buyers! You will never find an “onsite” agent show up here nor will you ever find their listings. You can read more about whether you should hire an onsite agent on one of my websites at : Should I hire an onsite agent to sell my condo?

You have many options to look at when selling your condo. To me, the most important two things to look at when hiring an agent to sell your condo  should be that the agent is a strong negotiator and second, they should have a strong marketing program that focuses on condominium buyers! How well you know the building does NOT put buyers in front of your listing!

If you are thinking about selling your condo or loft in the future, or know of someone who might be, please keep us in mind. We would love to sit down with you and share our very unique marketing program with you. Feel free to visit us online at www.LuxuryCondosofPortland.com


Selling Portland Condos… in the slow months!

As we begin to head into the holidays, real estate sales typically begin to drop off. Does this mean it’s a bad time to try and sell a home or a condominium. Absolutely not! While the traffic numbers will drop off substantially, the quality of the buyers that are out looking is generally much better. In other words, the buyers that are out looking during the holidays tend to be more serious. If you are currently thinking about putting your home on the market, here are a few important things to think about. First, always, always, always make sure that your agent will make your place shine! In other words, that agent will make it stand out over the other hundreds of homes or condos in the market. How do you do that? First, and we have talked about this MANY times, get great photos. Don’t go out and hire an agent that will use a point and shoot camera. The agent is getting paid good money to “Market” the home. They need to spend the money to do it right!

Next, make sure that the agent you hire has a proactive marketing plan! In other words, skip the “Put it in the MLS and wait” agent and hire someone that will be proactive in their marketing. I believe when you market a home, you need to sell it twice. Once to the general public and second, to the agents that will help you get it sold. Here is an example of what not to do. Awhile back a penthouse came on the market and was listed by an agent that, in my opinion, does not know how to market a listing. In a years time I have never received a postcard or an email about this listing… and I SPECIALIZE with Portland condos and condo buyers. You would think I would be one of the agents she sends out info to on a monthly basis… but not one thing so far?

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When times get slow, agents need to step up the marketing even more. You cannot just sit and wait for a buyer to come along. You need to have a proactive agent that is aggressive in getting your home in front of the right buyers and that in turn will increase your odds of selling your condo during the slow times.

Please visit our newest listing at www.PacificaTowerCondo.com


The real estate agent who is “All things to all people.”

I recently participated in answering a question on “Trulia Voices”. In this posting, I mentioned something about how most  real estate agents try to be “all things to all people”. I am not a believer that this is an effective way to run a real estate business.  You cannot possibly know everything in every area, this is why I choose the route of being a specialist in the condo and town home markets in Portland. If I were to buy a house in a certain area, I would want to work with an agent who is a strong negotiator and one that knows the area and pricing well. If I am buying a luxury home in Lake Oswego, I think I would be better served by working with an agent that specializes in that area and that price range.  I don’t believe that an agent that is working all over the city can overnight become an “expert” in that area and have a good grasp on pricing for that area. The same holds true for the condo and loft markets in Portland. While an agent may be very good in the Lake Oswego and Dunthorpe luxury home market, it does not mean they would be the best choice to sell your luxury condominium! I feel this especially true in the condominium markets where you don’t have yard signs and much of the marketing is dependant  on the internet.
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If you are hiring an agent to sell your condo, it is very important that they have a strong internet presence in a broad array of  the searches that condo buyers do. For example, a buyer is thinking about buying a condo at The Casey or The Metropolitan and does a search to check out what are the amenities at these buildings and what are the HOA fees. I can pretty much guarantee that the agents who are usually working in Lake Oswego, will not show up on these searches and neither will their listings! As someone who specializes in this area, I make sure that I do show up in these searches… and more importantly, that my listings (YOUR CONDO) shows up on these searches!

Everyday I see new condo listings come onto the market that are listed by agents who do not specialize with condos and each time I think “I wonder if their sellers knew there was a better way?”

If you are looking for a better way for your condominium to get the exposure it deserves, give us a call and we will sit down with you and show you our full marketing program for condominiums. We believe it is second to none and we would be thrilled to share it with you!
Visit us at www.LuxuryCondosofPortland.com or call us at 503-896-8856

www.TheCaseyCondominium.com   www.TheMetropolitanPortland.com   www.PortlandLoftsandCondos.com

 

 

 


Portland Condo Search

If you are in the market for a new Portland condominium and you heard that it is a sellers market based on inventory, you are probably thinking there are no deals out there! While it is true, it is harder to find deals in the market, they are out there. If you are a serious buyer and looking for  Portland condominiums or lofts, you would be best served by working with an agent that specializes in that market. As a seller, no question that you should work with a condo specialist, after all, they have marketing that is directed towards buyers everyday. But what about buyers? By working with a specialist, you are working with someone who is in that market everyday and really knows the market and how to identify value. Are there values still out there? Sure, because sometimes sellers may list with an agent that does not really understand the condo market as well as they understand the housing market. This happens often!

Recently, I went to a brokers open house for a new listing of a penthouse condo in the Pearl District. After touring the unit, the agent holding the open house asked me what I thought about the units condition, floor plan and pricing.  Not being shy to offer my opinion, I told him that I thought it was under priced at $925,000. I was a little surprised when the agent didn’t ask me how I came to that assumption. In fact, he seemed a little bothered by my answer. ( He did ask me for my opinion!) If he would have asked me why, I would have told him that a unit that was only slightly bigger over at The Casey just went pending at $899,000. This 6th floor unit had views that looked right into the new apartment complex that was built across the street. The Elizabeth 14th floor unit had far superior panoramic views of the city, west hills and beautiful evening sunsets from it’s spacious 35 foot deck. Another penthouse in the Pearl District had also gone pending, unit #1411 at The Henry. After sitting on the market for some time at much higher prices, this units price was dropped to $999,000 and went pending 20 days later. This penthouse condo also had great city views but was also 340 square feet smaller and was essentially a 1 bedroom, den (the den could be converted back to a second bedroom). I did mention my thoughts to another agent that day and he said “Yes but the Elizabeth has pending litigation and is cash only!” Guess what… it went pending after only 10 days!
the_Henry_ The_Elizabeth

In an earlier posting on our blog we talked about not leaving money on the table. Some agents listings will just get listed at prices lower than where they should be for a number of factors. In the example above, it may have been the agents lack of knowledge in pricing condos over houses. Perhaps the seller just wanted to unload it quickly? Either way, buyers will find deals out in the market, even in todays “sellers” market. There may not be many of them but if you are working with a specialist who is in that market everyday, your chances are much higher that you will find a great condo at a good value!

If you are in the market to buy or sell a Portland condominium, come visit one of our many condominium websites such as  www.ElizabethLoft.com , www.TheCaseyCondominium.com or www.HenryCondominium.com  or visit our main portal websites www.BradGolik.com and www.LuxuryCondosofPortland.com


Selling your Portland Condominium?

Selling your Portland condo?

Spring is here and it is a great time for those who have been thinking about selling to move forward. How do you go about selecting an agent to list your condo or loft? Here is what I see happen quite often. Many people will use a the agent that helped them originally purchase the condo. Others will get referrals from friends or family based on the job that they had done with them. Here is the problem with this, either of these agents may have done an ok job assisting you or your friends  with a home out in the suburbs, but they are not a specialist. When selling a condo or loft in the city, it is VERY important to work with someone who specializes with condos… and here is why:

Portland Condos

As a condo specialist, my focus everyday is on condos, condo buyers and condo marketing!  The biggest consideration you should give to an agents is how well does he/she do with internet marketing. After all, there are no yard signs with condos and lofts. The internet is were a majority of the condo buyers are coming from. If an agent does not have a strong internet presence … your listing also won’t have a strong internet presence either! One thing you will find out very quickly is that EVERY agent on the planet will tell you they will market your condo on the internet.
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I have been at this for some time now and the one thing I can tell you with 100% accuracy is that a typical real estate agent who is selling residential homes in Lake Oswego one day and then Beaverton the next cannot flip a switch on and become an expert overnight at marketing to condo buyers, it just doesn’t work this way. If you know even just a little about internet marketing, you will know this to be true! As a condominium specialist, I have spent much time and money developing an internet marketing program that gets listings in front of serious buyers. And when I say serious buyers, I don’t mean someone that gets on Google or Bing and searches Portland Condos. These are buyers who may be in the very starting phase of research and not really very serious… it took me sometime to realize this! Serious buyers are those who are researching things on the internet… and ALL buyers are doing this now! They go to Bing and Google and begin to research on specific buildings they think they may like. They begin to search to see what the amenities are at the building, they search to find out about the HOA fees at the building. Many buyers are doing this well before they hire a buyers agent to work with. Buyers are smarter than ever before and as your listing agent, our goal is to make sure that YOUR listing is in front of these serious buyers and when it is, to make sure it is presented in a special way that makes it stand out from the other hundreds of condos in the market! At LuxuryCondosofPortland.com , we have close to 80 Portland condominium and loft websites that we use to attract serious buyers. We use these websites to “cross market”  to buyers and our websites currently generate over 2500 visitors a month who are looking for specific condo information.

Most typical agents say they will market your home on the internet and this is what they usually mean. They will place your condo on their corporate website, the MLS, Realtor.com, Trulia and Zillow. Now don’t get me wrong, it is important to have your listings on these websites and yes, I do feature all of my listings on these websites as well. But… it is not nearly enough! When someone gets on Google to search for “The Henry HOA fees” or “What amenities does The Casey have” these websites don’t show up! What does show up? Usually not just 1 of our sites, but typically 5-6 of our websites on page 1 of a search and 1 of these  websites  will be featuring your condo! Go ahead and check: Search Google for “Benson Tower HOA fees”. What do you find? One of our current listings at the top of the list!

If you are selling your Portland condo I encourage you to work with a condominium specialist at the very least! There are a handful of agents who specialize with condos. Of these agents, there are only a few that really do have a strong internet presence.  These few agents are getting between 1500 to 2500 condo visitors a month to their websites. This alone should put these agents way ahead in the marketing department compared to a typical real estate agent that wants to sell your condo. Again, a typical agent cannot flip on a switch and become an expert overnight at marketing to condo buyers! And this includes agents who may have been referred to you.

At LuxuryCondosofPortland.com we would like to interview for the job of selling your condominium or loft and show how we are different.

In real estate, it is remarkable how much mediocrity people will live with, maybe it is because they don’t realize what else is out there.  I  believe that average is NOT acceptable and I want to show you what else is available to you when it is time for you to sell your condo! Don’t settle for mediocrity!

Serving buyers and sellers in all price ranges in the mid to high rise condominium markets.
Brad Golik
503-896-8856
www.LuxuryCondosofPortland.com/


Interview on CNBC’s Power Lunch!

Had a fun morning this morning doing an interview for CNBC’s Power Lunch. They do a weekly episode called Power House.

PowerHouseInterview

If you have been thinking about selling your condominium but were unsure of market timing?
Inventory levels are very low right now so it is a great time to list your condo or loft!
Call now to get a free market analysis.

503-896-8856

www.LuxuryCondosofPortland.com     www.PortlandLoftsandCondos.com    www.SouthWaterfrontCondominium.com   www.Portland-Townhome.com