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Old 06-10-2016, 01:56 PM
 
Location: Phoenix
135 posts, read 124,649 times
Reputation: 213

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While this comes as no surprise to many of us, it certainly serves as validation to most. After carefully examining the article, a few things stood out.

1. Denver and Portland are identical markets.
2. Portland is surging - quickly closing the gap with the Seattle market.
3. SF average sale is 4x to Portland and 3x to Seattle.

Which city will normalize faster, Denver or Portland? Will Portland become the same price as Seattle? Can San Francisco sustain a 3x or 4x rate over mid-sized, up-and-coming markets or will their transplants reduce the gap?

https://www.redfin.com/blog/2016/06/...mpaign=1001966
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Old 06-10-2016, 03:51 PM
 
Location: CA, OR & WA (Best Coast)
472 posts, read 526,543 times
Reputation: 433
My take-away from the report is everything is going up if you just look at the National Average column and compare it to the historic data. But yes, we have some markets stronger than others for sure!
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Old 06-14-2016, 02:31 PM
 
Location: Mason, OH
108 posts, read 120,514 times
Reputation: 87
I haven't read the article, sorry just no time. But as best as I can answer your questions based on my experience as a realtor in So OR, living in the Portland Metro, knowing nothing about the Denver area, having grown up in the SFBA, and having a BS in RE Finance, I personally do not think Portland will ever achieve a Seattle price tag, and yes I do believe SF will always sustain a 3x or 4x rate over mid-sized, up-and-coming markets. I know Portland is hot place right now, but it is not business-friendly, it wants to stay small, and it has an element of grunge that Seattle doesn't have or that is overshadowed by Seattle's affluence. Another MAJOR reason why Portland will never join the ranks with Seattle or San Francisco is because it does not have MLB or NFL. I'm not a sports fanatic but this is just the cold, hard truth.
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Old 06-14-2016, 03:10 PM
 
5,273 posts, read 14,541,151 times
Reputation: 5881
Quote:
Originally Posted by sunnyspring View Post
I haven't read the article, sorry just no time. But as best as I can answer your questions based on my experience as a realtor in So OR, living in the Portland Metro, knowing nothing about the Denver area, having grown up in the SFBA, and having a BS in RE Finance, I personally do not think Portland will ever achieve a Seattle price tag, and yes I do believe SF will always sustain a 3x or 4x rate over mid-sized, up-and-coming markets. I know Portland is hot place right now, but it is not business-friendly, it wants to stay small, and it has an element of grunge that Seattle doesn't have or that is overshadowed by Seattle's affluence. Another MAJOR reason why Portland will never join the ranks with Seattle or San Francisco is because it does not have MLB or NFL. I'm not a sports fanatic but this is just the cold, hard truth.
Seattle was Seattle before MLB or the NFL.
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Old 06-14-2016, 03:16 PM
 
4,059 posts, read 5,618,254 times
Reputation: 2892
Quote:
Originally Posted by sunnyspring View Post
it has an element of grunge that Seattle doesn't have
There's...some sort of irony here...what could it be...
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Old 06-14-2016, 03:38 PM
 
Location: Denver, CO
760 posts, read 882,906 times
Reputation: 1521
Its hard to say whether Denver or Portland will level off first.

Denvers job market is growing much faster than Portlands. So I think Portland will start to see a slower annual growth in a few years. However, Denver is not landlocked like Portland, so it has a better chance to match the demand by adding lots of new inventory.

It will be interesting to see.
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Old 06-14-2016, 03:45 PM
 
Location: Mason, OH
108 posts, read 120,514 times
Reputation: 87
Quote:
Originally Posted by BLAZER PROPHET View Post
Seattle was Seattle before MLB or the NFL.
Are you saying that Seattle was always as valuable as it is today, minus MLB and NFL? If so then what reasons do you propose for Portland not being of the same rank as Seattle? I'm not suggesting MLB and NFL are the only reasons Portland has not reached the affluence of Seattle, in fact I listed a few other reasons. Portland is what it is, just as other cities are what they are. Portland's value is going up, but it will need to continue to grow good jobs to keep growing in value as well. Its real estate is only worth what its jobs are worth, otherwise it is just another bubble.
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Old 06-14-2016, 03:47 PM
 
Location: Mason, OH
108 posts, read 120,514 times
Reputation: 87
Quote:
Originally Posted by bler144 View Post
There's...some sort of irony here...what could it be...
Um, that Portland's grungy? No idea what the irony is. You are welcome to share your viewpoint. I am always curious as to how others see the "Keep Portland Weird" Portland Metro.
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Old 06-14-2016, 03:54 PM
 
Location: PNW
358 posts, read 470,774 times
Reputation: 346
Quote:
Originally Posted by bler144 View Post
there's...some sort of irony here...what could it be...
:d
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Old 06-14-2016, 03:57 PM
 
Location: PNW
358 posts, read 470,774 times
Reputation: 346
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