According to the most recent RMLS data available, in May 2024, the Portland metropolitan real estate market showed signs of vibrancy and growth. Home prices continued their upward trend with the average sale price reaching...more
Last week, the Oregon Legislature took a significant step to address Oregon’s ongoing housing crisis, as Governor Tina Kotek signed a robust legislative housing package into law. Two pivotal measures, Senate Bill 1537 and...more
On March 29, 2023, Governor Kotek signed HB 2001 into law. This legislation contained changes to the residential eviction process in nonpayment cases. It is important for landlords and tenants alike to understand these...more
In April, the U.S. consumer price index (CPI) rose 4.9%, down from 5% in March. This data was widely reported as the first time that CPI inflation was under 5% since June 2021. As demonstrated by this reduction, it appears...more
The residential real estate market across the United States has slowed and the Oregon market is no exception. However, as always—location, location, location—plays a significant factor in determining the impact of a cooling...more
Between a red-hot housing market and rising interest rates, prospects are looking bleak for would-be homeowners in our region. For the most part, however, Oregon buyers have avoided one significant obstacle that has plagued...more
Downtown Portland’s vacancy rate stood at approximately 26% in the second quarter of 2022, up from 13% during the same period in pre-pandemic 2019. Additionally, another two million square feet of downtown office space may...more
When can Oregon landlords terminate residential tenancy without cause? Tonkon Torp real estate attorney Mick Harris offers a quick review of Oregon residential tenancy laws.
Contact:
https://tonkon.com/people/mick-harris/...more
In June 2022, according to a Redfin report, Portland home prices were up 7.6% compared to last year, selling for a median price of $570,000. On average, homes in Portland sell after six days on the market. One would expect...more
Pursuant to HB 2534—a bill that passed the Oregon Legislature in 2021—homeowners associations and condominium associations are required to review their governing documents and either (1) remove discriminatory language or (2)...more
NOTE: On May 19, Governor Brown signed SB 282 into law.
As the COVID-19 vaccine roll-out continues and summer approaches, there is optimism that life may slowly be returning to normal—or at least a new type of normal....more
According to recently released market trend reports, the number of condominiums listed for sale in Northeast and Southeast Portland dropped by 20% from September 2020 to December 2020 and the number of units sold increased...more
On December 21, 2020, the Oregon Legislature passed HB 4401, further extending the moratorium on residential evictions without cause and for nonpayment of rent from December 31, 2020 to June 30, 2021. The law also extends the...more
Two recent lawsuits filed in the U.S. District Court for the District of Oregon illustrate that Oregon banks are none too pleased about HB 4204. This legislation, passed by the Oregon legislature in June 2020, prohibits...more
10/21/2020
/ Banks ,
CARES Act ,
Commercial Real Estate Contracts ,
Coronavirus/COVID-19 ,
Eviction ,
Foreclosure ,
Model Contract Clauses ,
Moratorium ,
Oregon ,
Residential Real Estate Contracts ,
Sovereign Immunity