SoWhat condo values keep declining (Jack Bog's Blog)

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This page contains a single entry from the blog posted on April 24, 2011 11:43 AM. The previous post in this blog was A souvenir from downtown Portland. The next post in this blog is Lakers have hands full. Many more can be found on the main index page or by looking through the archives.

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« A souvenir from downtown Portland | Main | Lakers have hands full »

Sunday, April 24, 2011

SoWhat condo values keep declining

Here's one unit that's said to be priced 40% below the top of the market. "Only" $225 a square foot! And perhaps with a great view of an immigration jail site. Go by streetcar!

Posted at 11:43 AM | Permalink

Comments (12)

At that price I might buy one to use as a getaway from Lake Oswego. And, I might soon be able to go by streetcar!

Posted by mrfearless47 | April 24, 2011 1:27 PM

I wouldn't jump on that too fast, mrfearless. You still have property taxes based on assessments done in better days, and who knows how high association fees.

Posted by John Rettig | April 24, 2011 2:56 PM

The coolest thing about condo homeowner fees is the reverse tontine effect as other buyers drop out and units are not sold or resold.

Posted by Allan L. | April 24, 2011 3:02 PM

.....reverse tontine effect

I had to look that one up, and it may be a pretty accurate description of the situation.

Per ORS 100 the declarant has to accrue the association fees on the developer-owned units, and pay them in full when the unit sells, or one year after the first unit sells, whichever comes first. Want to speculate whether they're doing the honorable thing and keeping this in a reserve, to assure it can be paid up when due? Any buyer doing due diligence would be able to get this information from the association, which is controlled at this point by the.....um..... declarant.

Posted by John Rettig | April 24, 2011 4:07 PM

$225 per square foot is a steal compared to the eye popping $262-$330 per square foot for the "micro homes" they're putting in on 43rd and Division. The 364-687 square foot "micro homes" start at $120,000.

http://www.drhorton.com/Where-We-Build/Oregon/Portland/Division/Division-43.aspx

Posted by Pragmatic Portlander | April 24, 2011 4:58 PM

Wow Pragmatic, 364 sq.ft. isn't much larger than my living room.

Rental apartments are headed in the same "micro" direction. At what point are builders just insulting people? "You should be happy to pay me the same rent for 50% of the space! It's a new living concept!"

They're trying to spin they're own cheapness/greediness as a "new lifestyle." Don't miss out on this community of other suckers... erm, I mean, sustainable Portlanders living in the midst of a hot mixed-use neighborhood!

Posted by Snards | April 24, 2011 7:30 PM

to put it into perspective -- a single car garage is usually about 225 sq ft. a double is usually about 425.

Posted by concordbridge | April 24, 2011 8:15 PM

Why 364 square feet, when we could be doing this:

http://en.wikipedia.org/wiki/Capsule_hotel

With just 111 cubic feet of space, your capsule consists of a matress, a TV, wireless internet is available, and a locker for your personal belongings. A communal toilet and shower facility is footsteps away.

It's good enough for Navy sailors (who don't get the luxury of fully enclosed capsules or soundproofing)...it's good enough for Portland's "sustainable" residents.

Posted by Erik H. | April 24, 2011 10:30 PM

Why do they call them apartments when they're all stuck together? - Gallagher

Posted by Max | April 24, 2011 10:55 PM

Are children being propagandized to readily accept
this style of living all for the good of the planet?

Posted by watching for our children | April 24, 2011 11:14 PM

http://www.cybertown.com/colonies/aptvrml.html

Escape from 20th century Earth and become one of the first people from Earth to have your own 3D Virtual Reality apartment -- completely free! The Cybertown off-world Colony is now offering 4 prebuilt apartment types modeled in 3D VRML and freely available to you and soon we'll also be offering you the capability of building and customizing your own 3D VR apartments and having your friends over to visit in multiuser VR. * THEY'RE HERE NOW - OR SEE UPDATE AT THE BOTTOM OF THIS PAGE!.....

Posted by clinamen | April 24, 2011 11:49 PM

Clinamen--looks like Webkins for adults.

Posted by Michelle | April 25, 2011 11:35 AM

In Vino Veritas

Charamba, Douro 2008
Horse Heaven Hills, Cabernet 2010
Lorelle, Horse Heaven Hills Pinot Grigio 2011
Avignonesi, Montepulciano 2004
Lorelle, Willamette Valley Pinot Noir 2011
Villa Antinori, Toscana 2007
Mercedes Eguren, Cabernet Sauvignon 2009
Lorelle, Columbia Valley Cabernet 2011
Purple Moon, Merlot 2011
Purple Moon, Chardonnnay 2011
Abacela, Vintner's Blend No. 12
Opula Red Blend 2010
Liberte, Pinot Noir 2010
Chateau Ste. Michelle, Indian Wells Red Blend 2010
Woodbridge, Chardonnay 2011
King Estate, Pinot Noir 2011
Famille Perrin, Cotes du Rhone Villages 2010
Columbia Crest, Les Chevaux Red 2010
14 Hands, Hot to Trot White Blend
Familia Bianchi, Malbec 2009
Terrapin Cellars, Pinot Gris 2011
Columbia Crest, Walter Clore Private Reserve 2009
Campo Viejo, Rioja, Termpranillo 2010
Ravenswood, Cabernet Sauvignon 2009
Quinta das Amoras, Vinho Tinto 2010
Waterbrook, Reserve Merlot 2009
Lorelle, Horse Heaven Hills, Pinot Grigio 2011
Tarantas, Rose
Chateau Lajarre, Bordeaux 2009
La Vielle Ferme, Rose 2011
Benvolio, Pinot Grigio 2011
Nobilo Icon, Pinot Noir 2009
Lello, Douro Tinto 2009
Quinson Fils, Cotes de Provence Rose 2011
Anindor, Pinot Gris 2010
Buenas Ondas, Syrah Rose 2010
Les Fiefs d'Anglars, Malbec 2009
14 Hands, Pinot Gris 2011
Conundrum 2012
Condes de Albarei, Albariño 2011
Columbia Crest, Walter Clore Private Reserve 2007
Penelope Sanchez, Garnacha Syrah 2010
Canoe Ridge, Merlot 2007
Atalaya do Mar, Godello 2010
Vega Montan, Mencia
Benvolio, Pinot Grigio
Nobilo Icon, Pinot Noir, Marlborough 2009
Portuga, Rose 2011
Revelation, Chardonnay, Pays d'Oc 2010
Beaulieu, Cabernet, Rutherford 2005
Monte Alto, Tinto Reserva 2005
Chateau Ste. Michelle, Cabernet, Indian Wells 2009
Espiral, Vinho Rose
Vin-Koru, Pinot Gris 2011
14 Hands, Hot to Trot Red 2009
Rodney Strong, Cabernet, Sonoma 2009
Abacela, Vintner's Blend #11
Portuga, White 2010
La Bourgeoisie, Red 2009
Januik, Red 2009
Three Rivers, River's Red 2008
Kirkland, Alexander Valley Merlot 2008
Muga, Rioja Rose 2010
Quinta das Amoras, Vinho Tinto 2009
Mauro Molino, Barbera d'Alba 2009
Garda Chiaretto Rose
Columbia Crest, Two Vines Vineyard 10 White
Chateau Ste. Michelle, Pinot Gris, Columbia Valley 2009
L'Hortus, Rose de Saignee 2010
Maculan, Pino & Toi 2008
McKinley Springs, Bombing Range Red 2008
Trader Joe's Pinot Gris 2009
Montes Alpha, Cabernet 2007
Gran Sasso, Sangiovese, Terre di Chieti 2009
Garda, Classico Chiaretto Rose
Beaulieu, Cabernet, Rutherford 1999
Picos del Montgo, Tempranillo 2008
Chateau de Montmirail, Vacqueyras 2008
La Granja 360, Syrah 2009
Montgras, Carmenere Reserva 2009
Lange, Pinot Gris 2009
Columbia Crest, Horse Heaven Hills Cabernet 2008
Kirkland, Pinot Grigio 2010
Trader Joe's Coastal Syrah 2009
Columbia Crest, Horse Heaven Hills Merlot 2008
Trader Joe's Coastal Chardonnay 2009
Vieux Papes Red
Domaine de l'Aujardiere, Chardonnay 2009
Santa Rita, Cabernet, Medalla Real 2007
Penfold's, Koonunga Hill Shiraz Cabernet 2008
Guild, Red, Lot #02 2008
Dievole, Dievolino Sangiovese 2008
Laforet, Burgogne Chardonnay 2009
Columbia Winery, Merlot 2007
Bonterra, Cabernet 2008
Elk Cove, Pinot Gris 2009
Maquis Lien 2006
Scott Paul, Pinot Noir, Le Paulee 2007

The Occasional Book

Hope Larson - A Wrinkle in Time, the Graphic Novel
Rudyard Kipling - Kim
Peter Ames Carlin - Bruce
Fran Cannon Slayton - When the Whistle Blows
Neil Young - Waging Heavy Peace
Mark Bego - Aretha Franklin, the Queen of Soul (2012 ed.)
Jenny Lawson - Let's Pretend This Never Happened
J.D. Salinger - Franny and Zooey
Charles Dickens - A Christmas Carol
Timothy Egan - The Big Burn
Deborah Eisenberg - Transactions in a Foreign Currency
Kurt Vonnegut Jr. - Slaughterhouse Five
Kathryn Lance - Pandora's Genes
Cheryl Strayed - Wild
Fyodor Dostoyevsky - The Brothers Karamazov
Jack London - The House of Pride, and Other Tales of Hawaii
Jack Walker - The Extraordinary Rendition of Vincent Dellamaria
Colum McCann - Let the Great World Spin
Niccolò Machiavelli - The Prince
Harper Lee - To Kill a Mockingbird
Emma McLaughlin & Nicola Kraus - The Nanny Diaries
Brian Selznick - The Invention of Hugo Cabret
Sharon Creech - Walk Two Moons
Keith Richards - Life
F. Sionil Jose - Dusk
Natalie Babbitt - Tuck Everlasting
Justin Halpern - S#*t My Dad Says
Mark Herrmann - The Curmudgeon's Guide to Practicing Law
Barry Glassner - The Gospel of Food
Phil Stanford - The Peyton-Allan Files
Jesse Katz - The Opposite Field
Evelyn Waugh - Brideshead Revisited
J.K. Rowling - Harry Potter and the Sorcerer's Stone
David Sedaris - Holidays on Ice
Donald Miller - A Million Miles in a Thousand Years
Mitch Albom - Have a Little Faith
C.S. Lewis - The Magician's Nephew
F. Scott Fitzgerald - The Great Gatsby
William Shakespeare - A Midsummer Night's Dream
Ivan Doig - Bucking the Sun
Penda Diakité - I Lost My Tooth in Africa
Grace Lin - The Year of the Rat
Oscar Hijuelos - Mr. Ives' Christmas
Madeline L'Engle - A Wrinkle in Time
Steven Hart - The Last Three Miles
David Sedaris - Me Talk Pretty One Day
Karen Armstrong - The Spiral Staircase
Charles Larson - The Portland Murders
Adrian Wojnarowski - The Miracle of St. Anthony
William H. Colby - Long Goodbye
Steven D. Stark - Meet the Beatles
Phil Stanford - Portland Confidential
Rick Moody - Garden State
Jonathan Schwartz - All in Good Time
David Sedaris - Dress Your Family in Corduroy and Denim
Anthony Holden - Big Deal
Robert J. Spitzer - The Spirit of Leadership
James McManus - Positively Fifth Street
Jeff Noon - Vurt

Road Work

Miles run year to date: 32
At this date last year: 66
Total run in 2012: 129
In 2011: 113
In 2010: 125
In 2009: 67
In 2008: 28
In 2007: 113
In 2006: 100
In 2005: 149
In 2004: 204
In 2003: 269