Commissioner to visit October 25th

Mark your calendars! The Division Streetscape project is finally coming to an end! To celebrate this milestone, the Division/Clinton business association is throwing a party called "OpenFest" which will include live music, and lots of food and beverages. City Commissioners Fish and Novick will be present to do the official honors and to visit with the street's businesses - including Inhabit! - on a walk between SE 30 and 34th avenues.
 

Burgers, Brews and Buying a house.

This is the first event in a series of informative discussions geared towards building community and gather knowledge about current topics in Portland...while we eat burgers in our lovely back patio.

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You’re invited for burgers and brews. Wednesday August 27th at 5:30pm. A free informative discussion on navigating Portland's housing market. A sharp and informative homebuyer discussion chocked full of real world knowledge, financial insight, and confidence building information. 

You'll learn about Portland homebuyer programs, tax credits, how to shop strategically, as well as financial insights of homeownership.

 

RSVP REQUIRED 

Send RSVP to Emilie@inhabitportland.com --- 503.762.7958

 

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TOPICS TO INCLUDE:

·         Current Portland Purchase Market insights & insider information·    

Portland's most valuable down payment assistance grant explained - up to 5% cash grant of purchase price for down payment & closing costs - available state wide  

·         How to confidently qualify for a home loan

·         How to potentially secure $5,000 in down payment assistance 

·         Portland MCC first time homebuyer tax credit

·         Financing and down payment options compared

·         How to shop smartly and shrewdly

·         First Time Homebuyer loan programs & opportunities

·         The home buying process from start to finish  

 

Vince Kingston is a local mortgage advisor in Portland, Oregon with Eagle Home Mortgage.  Vince is a Portland Housing Center certified lending partner and one of the few area loan officers able to offer the full suite of first time homebuyer financing and tax credit opportunities including the MCC first time homebuyer tax credit, Oregon Bond loan, MAP 80 100% financing, 203K rehab financing, and more.  Vince has worked as a first time homebuyer advocate by offering first time homebuyer opportunities many local lenders are unable to offer.  You won’t find a loan officer more dedicated to meeting the needs of first time homebuyers. 

Vince Kingston

Eagle Home Mortgage

 

FIELD HOUSES - 3 beautifully designed NW Modern houses.

Eric 's latest project is sure to make some head turns. Located at the base of Mt. Tabor, 3 beautifully designed, NW Modern houses by Works Partnership are scheduled to be built soon. Each with detached 750sf ADU on spacious lots, and  prices around the  mid-to-upper $700s,  you may want to take a closer look.

Field houses is a progressive development of three private residences on a large, central city subdivided lot. The site is an open field, sloping to the north and anchored by a 120' fir tree. The project adds the dimension of financial sustainability to the usual planning measures by allocating an accessory dwelling unit to each residence that can serve as a separate income producing rental unit. To provide privacy to each home in this higher density environment, the houses are oriented uphill and create a series of south facing outdoor spaces, each allowing the adjacent rooms to expand out to the surrounding gardens.

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Each house will be designed to provide a direct connection to the environment and at the same time live lightly among it. Sustainable features such as high efficiency HVAC systems as well as the provisions for stormwater reclamation, solar power, and electric car charging. Each house will have the ability to incorporate the most up-to-date home technologies to supplement open, clean, and light-filled interior spaces.

Please stop by the Office to look at our models and to learn more about this exciting project.

The Richmond Commons - A successful project from concept to sold out

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Eric recently worked with one of his developer clients from beginning to end on the Richmond Commons Condominium project. The project was a huge success for his client, the new owners and for Inhabit. The 12 homes sold quickly and are all now closed. A happy community has formed on an abandoned, under-utilized corner of SE Portland. 

In a quick Q & A session, Eric explains the Richmond Commons development from land acquisition, pre-construction, marketing, all the way through to being SOLD OUT.

How did Richmond Commons come about? Where did this project begin and what was your involvement?

One of the services I provide to my developers and builders is land acquisition. I constantly keep an eye out for sites that my developer community can acquire and develop with the least amount of risk and exposure and the greatest outcome. This property hit the market and had the size, zoning, and location for very favorable development potential. The price and potential of the land that would become Richmond Commons was a "no brainer". We secured the property under contract and began due diligence for the site's "highest and best" use.

How did you help your developer client decide what to build on the site? What information do you provide?

I help my developers and builders understand the market's appetite for various types of real estate (houses, townhouses, condos, mixed-use, apartments, etc)...in other words... what will create the greatest buyer demand on the back end. We narrowed this site down to build attached townhomes or condominiums. From there, I created pricing strategies (what can we sell the unit for), absorption studies (how quickly the units will sell), lending solutions (for the take out financing) market demand (what features does the market want) and a marketing game plan to introduce the development to the market and create buzz, momentum and sales.

What are the challenges associated with this type of real estate sales? 

With larger "project work" there are tons of challenges ranging from risk management, construction scheduling, market shifts & conditions, lending environment, appraisal management, timing, etc.

Managing buyer expectations and closing coordination is also tricky. One of the biggest challenges and one of our strongest skill sets is creating and maintaining a base line value for all of the homes and staying true to it (not dropping price just to sell out). We counsel the buyers on why paying full price is actually better than getting a discount upon purchase. In a multi-unit development, all of the values are tied to each other...maintaining the base level value puts the development in a much stronger position for future resales down the road.

Was there a key ingredient that supported Richmond Commons and its successful launch into the market?

There wasn't one particular component that did it, but rather a combination of correct pricing, a solid location, a well-built energy efficient and beautiful home, favorable market conditions and a well executed marketing plan. All of these things came together nicely to create a great outcome for my developer client.

What's next now that Richmond Commons is sold out?

Well....I don't only do this type of real estate. I work with buyers and sellers every day to buy or sell all types of real estate.

As far as new projects, though....

We have a couple other very interesting projects coming down the line. One of them is in a super hot Hawthorne location with 12 modern, attached homes priced in the low-$400s. The other project is in Mt. Tabor and offers 3 ultra modern detached homes each with an ADU and situated on beautiful lots...priced in the mid-to-upper $700s. I'm happy to chat with buyers that may be interested in either of these projects.