Buying a New Home

Best Portland Neighborhoods to Buy a House: Richmond

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The Richmond neighborhood is situated in southeast Portland and incorporates both the Hawthorne and Clinton/Division areas giving residents easy access to two distinct, vibrant, walkable areas full of an eclectic collection of retail, coffee shops, art galleries, entertainment, restaurants, markets, and nightlife. Many area businesses maintain strong ties to their past, like the Bagdad Theater and Pub on 37th and Hawthorne.  Originally opened in 1927, the Bagdad was one of the first to bring movies to the Portland area and continues to show films today.

Best Portland Neighborhoods to Buy a House: Richmond

Richmond Neighborhood Lifestyle

The Richmond area is admittedly a difficult place for parking – much to the dismay of the folks who own homes close to the central shopping areas. It is, however, a walker’s paradise with a walk score of 90 and a 97/100 for bicyclists. According to one Richmond area resident, “The great thing about this part of town is that you can walk pretty much anywhere! There are interesting shops and restaurants on Division Street as well as on Hawthorne and between these two streets, you can find just about anything you need.”

Local real estate agent Natalie Strom with Living Room Realty agrees, stating: “Eclectic, walkable, centrally located, funky, charming and super fun, Richmond has it all. Bikes abound in this neighborhood, and you can find locals and visitors alike roaming between cafes, book stores, restaurants, shops, brewpubs, and a great network of parks. Find yourself picking up an ultimate frisbee game at Sewallcrest Park in the morning and wandering down to Ladd’s Addition to tour the centuries’ old rose garden and lovingly maintained estate homes. Perfectly situated between Mt Tabor, Laurelhurst and world-class eating in Division, the Richmond neighborhood in SE can’t be beat!”

The Richmond area boasts two beautiful parks: Sewallcrest Park and Ivon Street Park. Sewallcrest offers just under 5 acres of public green space and includes a playground, basketball court, an unfenced off-leash dog park, paved walking paths, a picnic area, soccer field, and a softball field. Teeny Ivon Park is only a third of an acre and provides a sweet little green space and traditional playground set with swings and a slide, as well as benches.

Neighborhood Favorites

With so many wonderful things to eat in the Richmond area, it’s nearly impossible to narrow down the neighborhood favorites but with a few Yelp searches we’ve come up with the shortlist:

Taqueria Lindo Michoacan: serves up authentic Mexican food touted among locals as exceptional for the value. This little food truck puts out delectable street tacos, fajitas, quesadillas, burritos, nachos, enchiladas, tortas, combo plates, breakfast versions each, and even salads.

Malka: with dishes like the Beautiful Blouse (mini roast chicken sandwich) the Muriel, I Can’t Find My Vest (fried chicken and bacon sandwich [or veg version with eggplant and mushrooms)), and Important Helmet for Outer Space (rice bowl with pork shoulder in curry) this new, cozy eatery serves up as much personality as it does awesome fare.

Matcha Café Maiko: first opened in Hawaii, this relative newcomer to PDX quickly became a local favorite. All of their matcha is imported from Uji, Japan and everything is made in-house: ice cream, sponge cakes, waffle cones, and even the adzuki bean toppings,

Bete-Lukas Ethiopian Restaurant: offering a full Ethiopian food menu and weekend specials, Bete-Lukas serves up authentic and traditional foods. Salads and sambusas complement their fish, chicken, lamb, and beef dishes. Their extensive menu also includes vegan options.

Tov: is a cozy red double-decker bus with indoor and outdoor seating serving up traditional Egyptian coffee and Turkish tea as well as edible delicacies. Quirky drink names like Nectar of the Gods, and Sounds Like Trouble with the Cops adorn the chalkboard menu.

Trinket: this ultra-popular Richmond brunch and lunch spot serves up the chef’s own favorite family recipes including duck eggs benedict, seasonal hash, and polenta with steamed eggs and greens. Hearty lunch offerings like the French dip and tuna melt keep this small local join packed each day.

PokPok: a Portland sensation, this authentic Thai street food restaurant boasts a James Beard award and a Michelin star.

Kati: this Thai place is packed every single day with carnivores and herbivores alike, even though it is strictly vegan/vegetarian. Kati opens its waitlist each day at 11:30 am to help manage the throngs of patrons. Folks consistently rave about the food here.

PDX Sliders: voted best burger in PDX, this joint serves up burgers and sandwiches in two sizes (slider and full-size) and lets you order any burger or sandwich as a salad instead. Beef, braised pork, marinated or fried chicken, portabella mushrooms, corned beef, and black bean patties are all available options.

Richmond Neighborhood Schools

Richmond is served by the following schools: Richmond Elementary School (K-5, public); Woodward Montessori School (private preschool); St. Ignatius School (K-8, private Catholic); Cleveland High School (9-12, public).

Local Real Estate

Richmond neighborhood median home values are currently reported at around $500,000, however, in the last couple of months average home sale prices have topped $750,000 (up nearly 30% from the previous year) with an average of just 10 days on the market. The Richmond real estate market has been undeniably heating up.

Entry-level real estate opportunities in the area are apartments and condos starting at around $280,000. Single-family homes start in the mid-400s and come in just under 1 million dollars.

If you’re ready to start the home-buying process (in Richmondl or any other Portland, Oregon or Vancouver, Washington neighborhood) I’d love to help! Give me a call anytime, or start the prequalification process now with this easy online mortgage application form.

Best Portland Neighborhoods to Buy a Home: Concordia

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For decades, Northeast Portland’s Concordia neighborhood was one of the most rundown areas in the city. Thanks to urban renewal efforts it’s now one of the most vibrant NE areas PDX has to offer, largely due to the exceptional diversity the neighborhood boasts, with many African-American and Latino-owned businesses calling the area home. Also central to the growth of the Concordia neighborhood is the thriving Alberta Arts District, famous for 15 blocks of eclectic coffee shops, restaurants, boutiques, bookstores, artisan storefronts, and service businesses.

Best Portland Oregon neighborhoods Concordia Fernhill Park

Neighborhood Real Estate

The dense suburban feel, varied local commerce, and great walkability in many parts of this expansive neighborhood have invigorated the real estate market in Concordia with families, singles, and retirees alike seeking out the strong community vibe.

Although the neighborhood has seen an increase in real estate prices, matching trends in Portland overall, it’s still possible to land a blank slate in Concordia with the occasional plot coming up for sale for a couple hundred thousand dollars as homeowners divide larger properties. Of course, the market swings equally far in the other direction with higher-end homes priced into the mid-to-high $800,000’s. However, Concordia’s median home value lands right around $367,000.

Concordia Community

An active Concordia Neighborhood Association does its part to ensure locals are aware of the numerous community events happening on a regular basis. With everything from Time Together at Cerimon House where folks are invited to “gather, knit, craft, fold, chat, be.” to FEAST (Forget Everything & Sing Together) Community Choir welcoming new singers to this “acapella choir with the goal to build community” and everything in between. Concordia is most popular in the summers with the Alberta Street Fair and the Last Thursday Arts Walk gathering people from all over the city to enjoy food, music, and art in the streets.

Concordia Lifestyle

Like most Portland neighborhoods, green space per capita is high, with the beautiful and expansive Fernhill and Alberta parks gracing the area. Fernhill is a massive 24-acre park with community softball and baseball diamonds, soccer and football fields, tennis courts, and a volleyball court. The park also has horseshoe pits, a running track, a playground, and a summertime kiddie pool, as well as picnic tables and an off-leash dog park. Fernhill also hosts a series of free live concerts in the summer on the expansive green lawn. Alberta Park is 17-with a baseball diamond, football and soccer fields, a covered basketball court, two tennis courts, and a playground. The park also includes a picnic area and a walking trail throughout.

A great example of the neighborhood’s renewal over the decades, locally famous Kennedy School was built in 1915 and served as a neighborhood Elementary School. As the neighborhood faced economic downturn, however, the school was left vacant until the 1990s when the McMenamins group purchased and renovated the building, turning it into a 57-room hotel with its own brewery, movie theater, bar, outdoor saltwater soaking pool, and restaurant complete with an outdoor courtyard and fireplace. (Neighbors and other Portland locals know Kennedy School’s soaking pool is one of PDX’s best-kept secrets with a one-hour soak available weekdays for just five dollars.)

Concordia Neighborhood Schools

Concordia students are served by the Portland Public School system through the following schools: Rigler Elementary School (public, K-5), Vernon (public, K-8), Faubion (public, K-8), Joseph L. Meek Professional Technical High School (public, 9-12), Jefferson High School (public, 9-12), Madison High School (public, 9-12). The namesake of the neighborhood, the University of Concordia, is a private liberal arts college that has central to the neighborhood since 1905. [Update 2/2020: After 115 years, Concordia University in Northeast Portland will close its doors at the end of the 2020 spring term.]

If you’re ready to start the home-buying process (in the Concordia area or any other Oregon or Washington neighborhood) or you just want to know what you qualify for, I’d love to help! I’d love the opportunity to discuss your home-ownership goals, answer any questions, and crunch the numbers so we know what you qualify for. Feel free to drop by my office at 1238 NW Glisan Suite A in Portland’s Pearl District, shoot me an email, or give me a call anytime at (971) 404-9844.

Best Portland-area Neighborhoods to Buy a House: Lake Oswego

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The upscale Lake Oswego community, less than 10 miles south of Portland, Oregon and situated neatly between the Pacific coast and Mount Hood, offers residents easy access to season sports like hiking, skiing, and snowboarding as well as summer beaches and their quaint coastal communities which are popular year-round.

With a sweet, small-town feel, Lake Oswego (often affectionately referred to as “LO”) sits on a 420-acre lake that offers plenty of local outdoor recreation like bird-watching, swimming, boating, fishing, and more.

Best Portland-area Neighborhoods to Buy a House: Lake Oswego

Lake Oswego History

Originally inhabited by the Clackamas Indian Tribe, the town was founded in 1847 and incorporated as Oswego (named after Oswego, New York) in 1910. The city was the hub of Oregon’s brief iron industry in the late 19th century. When the railroad arrived in Oswego in 1886 it provided a direct link to Portland. Train traffic reached its peak in 1920 with 64 trains to and from Portland each day. Under a decade later, the line was retired, but has been preserved with the Willamette Shore Trolley continuing to offer scenic trolley rides.

Local Lifestyle

Surrounded by pristine natural beauty, LO is home to numerous golf courses including the Oswego Lake Country Club, a members-only club that debuted its greens in 1924. Their historic clubhouse followed soon after in 1925. On the other side of the lake sits the Lake Oswego Public Golf Course which operates as a city-owned 18-hole course.

With 24 parks covering 600 acres in total, including the 53-acre West Waluga Park, there’s no shortage of beautiful outdoor space to enjoy. The city of Lake Oswego boasts amenities including the Roehr Park Amphitheater, a swim park open during the summer months, a water sports center that is home to Lake Oswego Rowing, outdoor and indoor tennis courts, as well as picnic shelters, playgrounds, and more.

The tight-knit Lake Oswego community loves to come together to celebrate holidays, the changing of the seasons, and more with numerous community events planned throughout the year including local favorites: the Star Spangled Parade and Celebration for the Fourth of July which kicks off from Millennium Plaza Park, free Summer Concerts Wednesday nights in July and August, and Moonlight, and free, family-friendly Music Concerts Sunday nights through July and August. There are also Summer Movies in the Park, and the Holiday Market and Holiday Tree Lighting.

The Farmers’ Market  is so popular that folks will drive in from Portland proper each Saturday from May through October to shop with over 80 local vendors selling just about anything one could need for the home, kitchen, and pantry including meat, chicken, eggs, nuts, cheeses, artisan breads, fresh-made jams, pastries, seafood, crafts, and more.

LO also boasts a small but thriving arts scene with Lakewood Center for the Arts putting on regular performances and an annual Festival of the Arts. ARTSpace hosts rotating exhibitions and is open free for a public reception the first Friday of every month.

Best Lake Oswego Neighborhoods

There are 27 recognized neighborhoods in Lake Oswego, all of which have access to top-rated schools and community amenities.

Kevin Costello of Hasson Company Realtors says, “There is a renaissance happening in downtown Lake Oswego right now and the charming First Addition neighborhood is perfectly positioned to enjoy it. Restaurants, shops, concerts, lake views, and public library – are all within walking distance. With that in mind, the demand for housing here exceeds the supply with little end in sight. Motivated, patient buyers can find their dream house here, at a premium.”

Although this area as a whole is rated as ‘car-dependent’ with a walk score of 36 a transit score of 26, and a bike score of 47 there are a number of neighborhoods that are developing more walkable areas for residents such as the Foothills and Evergreen neighborhoods with walk scores of 73 and extra-swank Lakewood with a 72 walk score.

Lake Oswego Schools

LO is served by the Lake Oswego School District. According to GreatSchools, some of the highest-rated schools in the area include Forest Hills Elementary School (public, K-5), Oak Creek Elementary School (public, K-5), Lakeridge Junior High School (public, 6-8), and Lakeridge High School (public, 9-12). Local private school options include Our Lady of the Lake Catholic School (private, K-8), Westside Christian High School (private, 9-12), and Park Academy (private with Dyslexia focus, 3-8 and 9-12).

Lake Oswego Real Estate

While Lake Oswego is known mainly an affluent community with high-end real estate prices to match, there are still opportunities to purchase in this community for under $200k with condos or townhouse options. That said, fully 50% of all currently listed LO properties are priced at $1million and up with the highest-end property currently listed at just under $7million.

As of this writing, according to Zillow, the median Lake Oswego home price falls at $641,000 landing at $282 per square foot on average, about $55 more than that of Portland.

Veronica Park, Principal Broker with Cascade Sotheby’s International explains this exceptionally healthy real estate market, “Even during the downturn, the home values in Lake Oswego were barely affected. The schools are exceptional and all that the community offers, be it the Farmer’s Market, the Park & Rec programs, or the strong community involvement, Lake Oswego is consistently a great place to buy and live. I’m proud to work and live in this wonderful city!”

If you’re ready to start the home-buying process (in the Lake Oswego area or any other Portland, Oregon or Vancouver, Washington neighborhood) I’d love to help! I specialize in guiding home buyers through the mortgage process and would love the opportunity to sit down with you to discuss your home-ownership goals, answer your current questions, and help you determine exactly how much home you can afford. Feel free to drop by my office at 1238 NW Glisan Suite A in Portland’s Pearl District, shoot me an email, or give me a call anytime at (971) 404-9844.

The Ins And Outs of Home Insurance

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What Is Home Insurance?

In most cases, when you use financing to purchase a new home you will need to purchase home insurance (also known as homeowners insurance) before the transaction closing date. Home insurance covers the lender’s investment as well as your own in the case of things like disaster, damage, fire, vandalism, theft, and more, depending on your policy. It is also designed to cover your liability for any accidents that occur on your property. (To learn more about what home insurance in Oregon does and does not cover, visit the Oregon Division of Financial Regulation website section on Home Insurance.)

The Ins And Outs of Home Insurance - Mathew Mattila Mortgage

Purchasing home insurance through an agent you know, like, and trust can not only help you get the best rates but also means you have someone to discuss potential claims with if and when something does happen to damage your home or injure someone on your property. Another benefit of working with an agent is that most of them will take the time to educate their clients about how to keep their home from having a loss, to begin with. The Insurance Institute for Business & Home Safety is a great online resource for this type of information as well. 

How to File a Home Insurance Claim

We recommend getting up to 3 estimates to see how much the repair will cost and then we consider the deductible and the impact on premium

– Debbie Clinton, Farmers Insurance

When damage or an accident occurs in your home or on your property and the cost to mitigate the damage is beyond your financial means, you may need to file a home insurance claim.

To begin the claim process:

  • Contact your agent. (Document all conversations.)
  • If there has been a theft or vandalism, always notify the local police and file a police report.
  • Protect your property from further damage. If need be, make reasonable repairs so that the damage does not get worse. (Keep all of your receipts and do not make permanent fixes until the insurance adjuster has documented the extent of the damage.)
  • Provide a detailed inventory to the claims adjuster showing the damaged property and the amount of loss claimed – this will help expedite payment.

It’s a good idea to already have a list or inventory of your possessions to submit to your home insurance agent (logged with item numbers, serial numbers, and purchase price – receipts can help immensely in these cases as well). Waiting until the disaster or theft has already occurred to try to inventory your possessions will only add stress to the situation and it will make it harder for you to present a strong case for reimbursement. Using an app is a quick and easy way to take photos of your possessions and log the information in a manageable format. Try Sortly or Memento Database.

Debbie at Farmer’s says, “We recommend getting up to 3 estimates to see how much the repair will cost and then we consider the deductible and the impact on the premium. If it isn’t clear whether the damage is a covered peril or not, we highly recommend filing a claim to let the adjuster do a full investigation of the cause of loss.”

When Not to File a Claim

If the cost to repair the damage is less than or only slightly more than your deductible, it may make more sense to pay out of pocket for repairs or make the repairs yourself.

Having home insurance doesn’t necessarily mean you should file a claim every time something is damaged or even for a theft. While this may seem counterintuitive, it’s important to understand that insurance companies are legally allowed to raise your premiums even after a single claim, regardless of the cost of that claim. A 2014 report by CNN found that monthly home insurance premiums increase by about 9% after a single claim of any kind. Liability claims such as a personal injury claim are the most expensive, incurring an approximately 14% increase.

Claims for things like theft or vandalism also tend to lead to a costly increase in premiums. Frequent claims for these issues indicate a dangerous neighborhood and are a red flag to your insurance carrier.

Given that the average homeowner files a claim about once every ten years, home insurance companies will also raise a consumers rates if a second claim is filed on a home insurance policy within a period of time less than that ten-year benchmark – and second claims can send premiums skyrocketing an average of 20%.

All insurance companies report to a database called the Comprehensive Loss Underwriting Exchange, or CLUE, which tracks property and auto insurance claims for each consumer. Your insurance record is updated each time you make a home insurance claim, even if the claim is denied and even if there is no payout. This data is then used to determine coverage availability and how much to charge – so switching insurance companies won’t necessarily get you better rates once a claim has been filed. (Note: you can get a copy of your C.L.U.E report from LexisNexis Personal Reports by requesting it online or by mail.)

With all of this in mind, if the cost to repair the damage is less than or only slightly more than your deductible, it may make more sense to pay out of pocket for repairs or make the repairs yourself. Save the home insurance claims for the catastrophic losses and extensive damages you simply cannot afford to cover.

My personal home insurance agent, Debbie Clinton at Farmers Insurance, is always available to me to talk through a potential claim without actually filing one. 

Recently, when one of the bathrooms flooded in my brand new custom home I was able to call Debbie directly to discuss the damage and strategically decide not to file a claim. Having that conversation, instead of filing the claim just to see if it would be worth it, saved me both time and money. I was able to decide to absorb the out-of-pocket expense and move forward with the necessary repairs to my very soggy bathroom and hallway without adding a flag to my insurance report (which would have increased my premiums.)

Being a homeowner myself, and being in the real estate and mortgage industries, I’m always happy to make recommendations to the folks I know, like, and trust – like Debbie. If you’re looking for recommendations, get in touch – I’m here to help.

Best Portland Neighborhoods to Buy a House: Foster-Powell

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Portland, Oregon’s Southeast Foster-Powell neighborhood, affectionately referred to as FoPo, is one a few remaining truly affordable neighborhoods for families looking to purchase real estate. It’s affordable, mainly because it’s still considered to be ‘up and coming’ but ask any neighbor in this compact ‘hood and you’ll quickly learn that those who call this area home consider it one of the best and more diverse PDX has to offer.

The explosion in Portland real estate the last few years has brought an influx of new residents to this developing area. New residents = new energy. With plenty of small businesses taking root, Foster-Powell, an area that once had a pretty bad rep, has been and continues to be thoroughly invigorated. Historically, the area came about as a result of the construction of Portland’s original electric streetcar in the 1890s.

Great Portland Neighborhoods to Buy a House: Foster-Powell

Foster-Powell Neighborhood Lifestyle

The Foster-Powell neighborhood rests in the Willamette River and Johnson Creek watersheds. Shaped like a triangle, this neighborhood is bordered by three major roadways: SE Powell Boulevard., SE Foster Road., and 82nd Avenue providing direct access to public transportation. While FoPo is not currently served by a MAX line, the city has been discussing the possibility. Commercial activity, consisting of everything a growing neighborhood could need, occurs at the outer edges – on Powell, Foster, and 82nd, with the interior streets being mainly residential.

With the Foster Transportation and Streetscape Project well underway the city plans to deliver “a street that is safer and more attractive for people walking, biking, taking transit and driving.” It will also add 190 new street trees and decorative street lights to help transform the area.

The FoPo neighborhood is buffeted by three local parks: Essex Park on 79th and Center, Kern Park on 66th and Center, and Laurelwood Park at the intersection of Foster Road and Holgate. There’s also the lovely Firland Parkway; a median strip of green in the city populated by large trees, right in the middle of 72nd Ave between Foster and Holgate.

With a coveted walk score of 80 and an almost perfect bike score of 99 (!!), Foster-Powell provides access to everyday community services and neighborhood resources within easy reach.

The strong FoPo Neighborhood Association helps provide even more stability to this growing, diverse community of families, retired folks, and young people.

This tight-knit neighborhood even has it’s own annual garden tour – showcasing 18-25 beautiful, local homegrown gardens each year. And from June to October the Woodstock Farmers Market serves fresh local food and live music to the community on Sundays.

Real estate agent Angela Talbott of Premiere Property Group agrees, “Foster-Powell is one of the top areas to live in Portland because it’s one of the most diverse and still affordable for close-in areas of the city! This fun neighborhood offers a huge amount of great restaurants, parks, and really good public school ratings. It’s a unique vibe, urban living in a neighborhood, and an area of “new ownership” for folks searching for their first home purchase!”

Things To Do In Foster-Powell

This smallish Portland neighborhood packs a big punch when it comes to things to do – from a busy nightlife to a huge assortment of delicious eats, FoPo has it all. Here are just a few local favorites:

Portland Mercado: The Portland Mercado is a grassroots community response to the dream of developing the first Latino public market in Portland while simultaneously operating as a response to wealth disparities in the region. The Mercado represents “the strong community desire to have a center for commerce based on Latino heritage.” You’ll find 9 food carts and 6 indoor business (including a neighborhood bar, a fresh produce market, and a Nicaraguan coffee shop) representing the diverse flavors of Latin America. The Portland Mercado is open daily from 11am-8pm.

Carts on Foster: There are no less than seventeen food carts parked in this covered lot at the intersection of Foster and 52nd. The diverse selection includes PDX favorites such as The Egg Carton for brunch and eggs; Road Runner BBQ; Fritkot PDX – Belgian fries and beef stew; The Chicken Coop for fried chicken goodness and other southern comforts; Istanbul Delight for perfect gyros, shawarma, and falafel; and much more!

There’s even Salon Bucci – a salon in a cart for haircuts, serving men, women, and children.

If you’re looking for a good old-fashioned burger and fries, head to neighborhood staple, Foster Burger, the rock n’ roll burger bar down the road.

Or, grab a big hot bowl of pho at local favorite Pho Hung.

Tango Berretin: Get your dance on at this local tango spot – take lessons, join guided tango practice each week, or dive in and take a group lesson before enjoying dancing a Saturday night away (9 pm – 1 am).

You’ll also find a plethora of unique art studios in Foster-Powell including Bohio Studio, Flat Blak Gallery, and Po’ Boy Art to name just a few.

Want something fun to do with the kids on a rainy day? Visit Make Do Art Studio offering classes, camps, and workshops for children and families.

Foster-Powell Neighborhood Schools

The Foster-Powell neighborhood is served by the following schools (this is not a comprehensive list): Arleta K-8 (K-8, public), Marysville School (K-8, public); Wild Lilac Child Development Community (Infants, Toddlers, Preschool, private); Franklin High School (9-12, public); Mt Scott Learning Center (9-12, private).

Foster-Powell Neighborhood Real Estate

Median home values in Foster-Powell are still higher than the natural average, but lower than most of the rest of the Portland- Metro area, at $250,716. About half of neighborhood residents are homeowners, as opposed to renters. Providing an increased sense of neighborhood stability.

Stay tuned for information on more great Portland, Oregon neighborhoods.

If you’re ready to start the home-buying process (in Foster-Powell or any other Portland, Oregon or Vancouver, Washington neighborhood) I’d love to help! Give me a call anytime, or start your home-loan prequalification now by submitting your info directly to me using this easy online mortgage application form.

Best Portland Neighborhoods to Buy a House: The Pearl District

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Hot Portland Neighborhoods: The Pearl District

Had you not lived in Portland in the 90s you might never guess that The Pearl District, a vibrant neighborhood full of high-end art galleries, expensive high rises, and upscale dining and shopping was previously the Northwest Industrial Triangle: a low-rent industrial area occupied by railroad yards and warehouses on unfinished lots.

Prior to that, the area’s long and storied history includes the expansion of Henry Weinhard’s brewery business to the point where he wanted to pipe his beer to the Skidmore Fountain in the 1860s, a turf war between two railway magnates in the early 1900s, and the notable story of one of the area’s first resident artists renting a 3,000 square foot space for a mere $100 a month in the 1970s as well as the opening  of the first Powell’s Books location.

There are numerous historical points of interest in the making of the Pearl District, but one fact that is often overlooked and rarely known is that the neighborhood is named after a real woman, Pearl Marie Amhara. Pearl was born in Ethiopia in 1936 and was described as a tall, striking woman who spoke 21 languages and was an avid women’s rights activist and humanitarian. The full story behind how the Northwest Industrial Triangle was coined ‘The Pearl District’ in 1985 is worth a read, and it’s truly fitting that one of Portland’s most unique neighborhoods is named after such an interesting person.

In the early 90s, developers began converting available warehouses in The Pearl District into open living spaces and used the term ‘loft’ to market these urban dwellings to buyers. The loft concept became so sought after that even new buildings in the area were designed in the same way. The Pearl District quickly became one of urban Portland’s most popular, and relatively expensive, neighborhoods. Because most developments in this area come from new construction, apartments and condos are relatively pricey.

This trendy neighborhood runs from West Burnside Street on the south to the Willamette River on the north, NW Broadway on the east and I-405 on the west. The area is stocked mainly with lofts (technically ‘condos’) and apartment buildings, with a few townhomes scattered in. There are no single-family homes in this Portland neighborhood.

The high cost to live in The Pearl (landing at a ‘D-’ for housing and an ‘F’ grade for cost of living) offers a balance with easy access to a plethora of local amenities. It also boasts nearly perfect walk and bike scores, and close proximity to educational institutions.

Schools In The Pearl District Neighborhood

While the Pearl District may be mostly inhabited by singles and professionals, the neighborhood does still cater to families with children, as well as university students, and offers many school options including: Chapman Elementary School (K-5, public), East-West Sylvan Middle School (6-8, public), Lincoln High School (9-12, public), The Emerson School (K-5, non-profit, charter), The Portland Chinese School (preschool-12, non-profit, alternative, private) is located on Portland State University’s campus on the south side of the Pearl.

The Pearl District Lifestyle

People who choose to buy homes in the Pearl are choosing a vibrant, urban environment and the lifestyle that embodies. Residents of The Pearl laud the accessible green space, with multiple parks throughout. Many will give up their motorized transportation and supplement walking with the exceptional public transportation options including TriMet bus and MAX train service and the Portland Streetcar. The Pearl offers engaging nightlife, an active arts, culture, and entertainment scene, diverse dining experiences, walkable shopping, and with all of this, even in this downtown environment, the Pearl can offer a close neighborhood feel.

One neighborhood resident, Jana, who moved from Vancouver, Washington to Portland’s The Pearl District a few years ago shares her reasoning behind the big change from suburban life:

“I wanted to be at the center of it all, yet still away from the crowds. I walk everywhere, I love living by the dog park, and I feel safe living in a condo building – the views from my condo are amazing! I’m also grateful for my incredible neighbors – I think we all were meant to live together and secretly I think we all know each other by our dogs’ names instead of our actual names!”

Home Prices in The Pearl District Neighborhood

Trulia puts median home prices in The Pearl at $480,000, while Zillow offers a more realistic number of $532,900. Zillow elaborates that Pearl neighborhood homes are, on average, listing nearly $50K higher than they’re selling for in the area, implying that the market leans towards buyers, or is at the very least somewhat neutral.

Those looking to purchase a home in Portland’s Pearl District will find a wide range of entry prices, with a few older, smaller options coming in at around $200,000 for a 1 bedroom, 1 bathroom and 322 square feet – scaling all the way up to top-of-the-skyline luxury at $4.7 million for 3 bedrooms, 4 bathrooms, and about 3,500 square feet.

There’s something for just about everyone in the Pearl. If you’re ready to start the home-buying process (in the Pearl District or any other Portland, Oregon or Vancouver, Washington neighborhood) I’d love to help. Give me a call to discuss your goals! Or, you can start your prequalification process right away by securely submitting your info to me using this online form.

You’re also welcome to stop by my office, which happens to be in the heart of the Pearl. I’m at 1238 NW Glisan, in the Chown Pella Lofts. Give me a ring to let me know you’ll be stopping by. I look forward to working with you!