Best value on west coast...
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12/17/2006
Just moved up here from the SF Bay area where I sold a 2,000 SF home for close to $1 million (In April & 30 minutes from downtown SF) and bought a brand new, beautifully detailed 3,000+ SF home for $550K 5 minutes from downtown Portland!! I truly believe Portland offers the best value (real estate wise) over any other west coast metropolitan area. Most homes are in the $250K to $400K and we're talking nice homes in nice areas. In fact, downtown condos in the Pearl District are more expensive than single family homes 10 minutes away!! That doesn't make sense. For those who say housing is unaffordable, that's just not true. I believe Portland is the ONLY met area on the west coast that has the potential to appreciate another 40-50% over the next 5 years or so. EVERY other met area (SF, LA, Seattle, San Diego, Sacramento) has made its big move. Portland has had steady annual appreciation and that's due to a predictable inflow of people and families from more expensive areas. They also have what's called the Urban Growth Boundary which limits the amount of suburban acreage that can be developed.
Quick notes on other catagories. Gas is as expensive as any place on the west coast but that's because there's NO self-serve. You stay in your car and someone pumps your gas and cleans your windshield for you!! Some people like that but I'd rather go for the cheaper self-serve. Economy: Probably a good idea to have a job lined up before moving to Portland since it seems the depth of jobs is not as great as other met areas on the west coast. That being said, Nike is based here, Intel has a huge operation here and downtown Portland is undergoing a resurgence big time. People: Very friendly and VERY homogenous. Liberal and green friendly seems to be the norm. Climate: Yes, it can be rainy and dreary but it sure makes coming home to that nice warm house that much better!! If rain depresses you, the whole Northwest should be off your radar screen. Overall: 21st century attitudes and living w/ 1990's home prices...excellent combination.
Douglas | Portland, OR