In business, the slogan “Just Do It!” rings true and will serve you well. In the world of Property Management this is applicable as well. After all, we are trying to grow our business and be successful when we manage your asset wisely and efficiently. However, more often than not our slogan is “Just Do the Right Thing!”
As property managers we work with many vendors who complete work on our properties. We want quick, quality repairs, and at a good price for our clients. Sometimes this requires tough conversations. Navigating this world is our expertise and it is part of why you rely on us. Our fiduciary responsibility is always you, the client.
The other piece of the puzzle we have to navigate is relations with tenants. Our job is to provide clean, safe, well-maintained housing. However, and this might come as a shock, sometimes tenants can have expectations that are out of line. Just because a kitchen counter has a scratch on it doesn’t mean we need to replace the entire counter top with new, beautiful granite from Brazil. Often times a property manager has to say “no” in the most professional and courteous way possible.
Real Estate management is an active, engaging industry. One cannot just buy an investment property and watch it appreciate or mature, like treasury bonds. Having the right management in place is just as important as buying the right property at the right price. We have the expertise and experience to navigate the difficulties and pitfalls for you. Here at Rappold Property Management we take our job very seriously and we manage your property as if it were our own.
Troy Rappold
Rappold Property Management, LLC
1125 SE Madison Street, suite #201
Portland, OR 97214 Phone: 503-232-5990 Fax: 503-232-1462 http://rappoldpropertymanagement.com
The ability to smoke in public and at apartment communities has been under attack for years. But what about rental homes? Often times an owner plans to rent their home for only a year or two. Certainly the owner does not want to receive the house back with the smell of cigarette smoke still lingering in the house. Even if the renter was a model tenant in all other respects, cigarette smoke can be very destructive. Smoking turns walls yellow (new paint job $1,200), it destroys carpets ($1,500), and it requires a deeper cleaning, perhaps with a deionizer ($500). The cost of all this stress…priceless.
The best approach? In all of our homes we have a no smoking policy. However, we do allow the renter to smoke outside, perhaps on the porch or deck. However, this issue can be a hard one to enforce. What if it’s cold outside? Who wants to stand outside when it’s only 35 degrees? The renter is easily tempted to stand inside the house or close to an open window and light up. Inevitably, smoke gets in the house and the home owner smells the evidence. A good suggestion is to do an inspection within the first month or two of a new lease if you know the renter smokes. Catch the problem early. Then do another inspection a few months later to make sure. If you detect smoke after the tenant moves out, a landlord can charge the tenant for the remediation of the smell. But this can be a tricky proposition. It is always best to be pro-active and keep this issue from becoming a possible expense. It is less ideal to react and pursue a vacating tenant for money.
You can always call Rappold Property Management with questions about your single family home investment.
Troy Rappold
Rappold Property Management, LLC
1125 SE Madison Street, suite #201
Portland, OR 97214
As of June 03 2013 there were about 8,714 single family and condo homes listed for sale in Portland Oregon. The median asking price of these homes was approximately $285,077. Since this time last year, the inventory of homes for sale has decreased by 23.4% and the median price has increased by 10.1%.
June 03, 2013
Month/Month
Year/Year
Median Asking Price
$285,077
+1.8%
+10.1%
Home Listings/Inventory
8,714
+3.5%
-23.4%
Recent Asking Price and Inventory History for Portland
Date
Single Family & Condo
Inventory
25th Percentile
Asking Price
Median
Asking Price
75th Percentile
Asking Price
06/03/2013
8,714
$199,000
$285,077
$449,900
05/27/2013
8,631
$197,700
$285,000
$449,000
05/20/2013
8,597
$195,000
$282,500
$441,100
05/13/2013
8,460
$194,950
$280,000
$448,500
05/06/2013
8,420
$191,900
$279,900
$449,000
Portland Asking Price History
The median asking price for homes in Portland peaked in April 2007 at $354,740 and is now $69,663 (19.6%) lower. From a low of $239,125 in February 2011, the median asking price in Portland has increased by $45,952 (19.2%).
25th, Median (50th) and 75th Percentile Asking Prices for Portland Oregon
Portland Housing Inventory History
Housing inventory in Portland, which is typically highest in the spring/summer and lowest in the fall/winter, peaked at 23,354 in July 2008. The lowest housing inventory level seen was 7,969 in March 2013.
Housing Inventory for Portland Oregon
Portland Asking Price and Inventory History
Date
Single Family & Condo
Inventory
25th Percentile
Asking Price
Median
Asking Price
75th Percentile
Asking Price
June 2013
8,714
$199,000
$285,077
$449,900
May 2013
8,527
$194,888
$281,850
$446,900
April 2013
8,075
$186,800
$274,540
$439,060
March 2013
7,969
$182,923
$267,425
$427,213
February 2013
7,981
$179,900
$262,450
$419,731
January 2013
8,250
$179,075
$259,217
$404,725
December 2012
8,627
$178,900
$259,720
$405,750
November 2012
9,408
$179,675
$260,950
$408,963
October 2012
10,259
$179,900
$267,160
$418,600
September 2012
10,828
$179,900
$268,975
$418,450
August 2012
11,102
$179,675
$268,725
$418,500
July 2012
11,140
$177,600
$266,598
$411,651
June 2012
11,362
$174,825
$259,675
$399,950
May 2012
11,227
$169,713
$252,463
$399,450
April 2012
10,820
$169,160
$249,910
$397,940
March 2012
9,683
$174,450
$259,450
$406,225
February 2012
10,549
$169,225
$248,250
$388,025
January 2012
10,833
$169,080
$246,960
$381,960
December 2011
11,461
$169,925
$248,375
$385,675
November 2011
12,018
$174,750
$250,972
$397,425
October 2011
12,846
$179,530
$258,720
$399,900
September 2011
13,509
$179,939
$259,900
$399,900
August 2011
14,672
$179,360
$256,590
$395,540
July 2011
14,772
$178,150
$253,188
$389,225
June 2011
14,762
$176,475
$250,970
$386,970
May 2011
14,582
$173,184
$249,160
$375,780
April 2011
14,748
$169,950
$242,400
$364,975
March 2011
15,458
$169,800
$239,675
$359,575
February 2011
15,531
$169,675
$239,125
$354,725
January 2011
15,001
$170,760
$239,158
$356,380
December 2010
16,118
$176,200
$242,700
$363,363
November 2010
17,018
$180,160
$249,330
$373,780
October 2010
17,614
$184,975
$253,375
$381,975
September 2010
18,282
$189,100
$258,925
$390,950
August 2010
18,579
$190,940
$261,150
$397,160
July 2010
18,160
$195,163
$267,475
$399,000
June 2010
17,488
$196,853
$268,875
$399,800
May 2010
17,035
$198,880
$269,620
$399,818
April 2010
17,279
$198,000
$266,750
$392,500
March 2010
16,495
$195,600
$264,460
$393,960
February 2010
15,382
$194,938
$264,450
$395,198
January 2010
14,895
$197,819
$267,425
$399,225
December 2009
15,329
$199,897
$272,038
$402,212
November 2009
15,902
$202,750
$277,760
$417,780
October 2009
16,573
$209,675
$283,646
$428,225
September 2009
17,165
$210,000
$289,475
$436,100
August 2009
17,595
$211,760
$292,880
$444,320
July 2009
17,819
$212,950
$294,950
$449,000
June 2009
17,870
$213,460
$294,920
$449,100
May 2009
17,713
$211,475
$293,291
$445,250
April 2009
17,978
$212,525
$289,925
$444,725
March 2009
18,506
$214,153
$289,930
$443,360
February 2009
18,449
$216,014
$293,968
$448,125
January 2009
18,872
$219,952
$297,855
$452,809
December 2008
19,842
$223,220
$302,773
$458,508
November 2008
20,983
$226,382
$307,532
$464,024
October 2008
22,086
$229,650
$312,450
$469,724
September 2008
22,973
$233,730
$319,580
$474,990
August 2008
23,314
$235,200
$322,000
$475,725
July 2008
23,354
$236,074
$324,550
$475,000
June 2008
22,657
$239,150
$324,920
$479,459
May 2008
21,505
$239,900
$325,000
$480,947
April 2008
20,669
$239,900
$324,937
$479,912
March 2008
19,381
$241,300
$324,860
$485,960
February 2008
18,409
$240,485
$324,925
$479,912
January 2008
17,659
$243,500
$324,962
$481,765
December 2007
18,584
$245,120
$327,975
$489,355
November 2007
19,926
$248,665
$330,475
$486,425
October 2007
20,762
$249,950
$337,260
$493,980
September 2007
20,656
$253,425
$339,900
$497,749
August 2007
19,837
$257,712
$342,975
$499,124
July 2007
18,710
$261,120
$349,120
$499,930
June 2007
17,670
$264,282
$349,950
$507,949
May 2007
16,386
$264,900
$350,975
$512,662
April 2007
15,059
$264,900
$354,740
$517,740
March 2007
13,897
$264,450
$353,850
$523,425
February 2007
13,814
$258,517
$349,800
$516,750
January 2007
13,726
$255,810
$349,637
$507,441
December 2006
14,746
$257,149
$348,246
$499,949
November 2006
15,671
$258,837
$348,750
$499,900
October 2006
16,027
$259,640
$348,834
$499,900
September 2006
15,239
$261,098
$349,675
$499,937
August 2006
14,029
$264,925
$350,737
$518,587
July 2006
12,864
$264,920
$350,470
$525,980
June 2006
11,261
$264,925
$349,975
$530,937
May 2006
9,804
$262,340
$350,940
$532,360
April 2006
8,701
$256,433
$346,433
$526,224
Department of Numbers
The Department of Numbers contextualizes public data so that individuals can form independent opinions on everyday social and economic matters.
[QE] is definitely a pretty roundabout way of driving money into the real economy. Instead of putting the money directly to work, pay money to people who already have assets even more than their assets are currently trading for, in the hope that they’ll put at least some of the money to work.
In a sidenote he addresses “helicopter money” AKA “QE for the people.”
QE involves paying over a $ (or Pounds, or Yen) amount in return for an existing asset. This is a crucial feature, and accounts for many of the drawbacks — in particular that the policy benefits above all existing holders of assets. In theory, just handing money to everybody in the country is a more effective and equal way of acheiving its aims. But you don’t have to be a hard-money Bundesbanker to be at least a little uncomfortable with where this might end up
QE via asset purchases does strike me as a very roundabout way of addressing a demand shortfall in a substantially consumer driven economy. But as the above post suggests, nothing else may be politically viable.
We just don’t see the returns there that are adequate to incentivize us to continue to invest, [Bruce] Rose, 55, chief executive officer of Carrington Holding Co. LLC, said in an interview at his Aliso Viejo, California office. There’s a lot of — bluntly — stupid money that jumped into the trade without any infrastructure, without any real capabilities and a kind of build-it-as-you-go mentality that we think is somewhat irresponsible.
I forgot to point out this post by Calculated Risk earlier this week. He’s using my housing inventory data to chart the trajectory of listings coming online this year. Inventory has come way down over the past couple of years and the big question is whether this winter will mark a bottom. If a lot of homes go on the market this spring, it probably indicates a bottom.
Household borrowing represents, in a very direct sense, a redistribution of purchasing power from savers to borrowers. So if we worry that oversaving by the rich may lead to an insufficiency of purchases [by poorer households], household borrowing is a natural place to look for a remedy. Sure enough, we find that beginning in the early 1980s, household borrowing began a secular rise that continued until the financial crisis.
Why that’s a problem:
Suppose that the mechanism that reconciles inequality and adequate demand is household borrowing. Is that sustainable? After all, poorer households would have to borrow new purchasing power in every period in order to support demand for as long as inequality remains high.
How it messes with the role of banks in the economy:
We very explicitly ask banks to intermediate the deficit in demand, exhorting them to lend lend lend for macroeconomic reasons that are indifferent to microeconomic evaluations of solvency. We can have a banking system that performs the information work of credit analysis and lends appropriately, or we can have a banking system that overcomes deficiencies in demand. We cannot have both when great volumes of lending are continually required for structural reasons.
The elegance and insight density of this post is off the charts!
Data on deptofnumbers.com is for informational purposes only. No warranty or guarantee of accuracy is offered or implied. Contact ben@deptofnumbers.com (or @deptofnumbers on Twitter) if you have any questions, comments or suggestions.
Concordia Neighborhood Tudor. Close to New Seasons Market, Kennedy School,Concordia University,and Alberta Park. Enjoy the lifestyle of close in Portland. Owners ahve carefully updated this home and brought out the charm and style English Tudors are known for. Located in a quiet close in neighborhood with old trees and sidewalks. This home is a must see for anyone looking for a larger home in a quiet close in neighborhood. Home drips with charm and grace. MLS#12076403 4 Bedroom, 2 Bathroom, 2795 Square Foot home.
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