Understanding Oregon Property Taxes by Lee McKnight

Every year around this time, the questions start rolling in. How are my property taxes calculated? What's the difference between assessed value, market value, and the appraisal? Why am I paying all of these other charges? We get it! Property taxes are one of the dark corners of adulting where nearly everyone is confused.

The other complicating factor is that property taxes are calculated differently everywhere. It's not a one-and-done situation; you have to seek education each time you move to a new market or municipality.

We thought this video synopsis created by the Oregonian years ago covered the basics of Oregon's property taxes and how they came to be calculated the way that they are.

This does not have to be the end of this conversation; we would love to hear from you with any other questions you'd like for us to answer>>

Chances are you're not the only one who wants to know!

RMLS Action Report by Lee McKnight

As you can see, the Seller's market continues with now just .7 months of inventory. And to fine-tune that statistic, the RMLS has started to track "Readily purchased and occupiable listings" on the front page of the Market Action Report. This underscores that there are even fewer homes available if you eliminate those for sale only if the sellers can identify replacement property and those not finished yet (new construction or proposed). When you take that statistic into account, inventory falls to just .6 months. The market conditions are rapidly changing to accommodate this. Unfortunately, we are starting to see buyers waive inspection and offer non-refundable earnest money to win the day. With interest rates on the rise, this may cause some buyers to withdraw from the market, but I believe it will take a while before that effect is felt.

View the most recent report here>>

A Little Help for Your Spring Cleaning: E-Cycle Event by Lee McKnight

Spring, and spring cleaning, are upon us! Many of you are sifting through your closets and garages, clearing out clutter. Some items are trickier to dispose of than others. If you have any electronics you're ready to part with, please consider taking advantage of the E-Cycling event hosted by The Hasson Co.'s Lake Oswego office in early April.

What Does It Mean to Be An Oregonian? by Lee McKnight

Journalist Leah Sottile, of Bundyville podcast fame, wrote a piece last week, after Nick Kristof's bid for governor was ruled out by the Oregon Supreme Court about nativism and what it means to be from Oregon. To be for Oregon.

Regardless of how you felt about the Kristof decision, Sottile's essay is worth reading for the essential questions it asks about who we have been and who we are becoming.

You can find this essay and other work by Leah Sottile here>>

Black History Month: Learning and Doing by Lee McKnight

Recently an interviewer asked Pulitzer Prize-winning journalist Nikole Hannah-Jones what it would have meant to her younger self to have access to texts that chronicle the contributions of black Americans to the nation. Texts like those she has created in the last few years (1619 Project, Born on the Water).

"I wouldn't have had to spend all of those years sitting in the classroom feeling completely inferior, feeling that black people had never accomplished anything of worth, believing that the reason we weren't in the story was because we didn't do anything important and how differently my concept of myself would have been had anyone bothered to teach us any of this."

Her response echoes the desire of Carter G. Woodson, the man who created Negro History Week in 1926 in Washington D.C. Woodson believed that making black life and history visible had the potential to move our nation toward equality. Fifty years later, in 1976, Negro History Week became Black History Month. Each February, we are reminded of black Americans' deep and meaningful contributions to our nation and our culture and lives.

This February we explored the 28 days of black history from the team at Anti-Racist Daily, information compiled by Oregon REALTORS about black history and real estate in Oregon, and Vanport Mosaic- a community oral history project.

We are firmly committed to learning about our history so that we can begin (and continue) to do better. As real estate professionals in Oregon, we are driven to rectify the longstanding inequity perpetuated through federal and local housing policies and real estate practices. Taking Ownership PDX is an outstanding example of an organization addressing current housing disparities. Their focus on keeping black residents in their homes and supporting black families in building generational wealth meets immediate needs and nudges us onto a course toward a more equitable future.

Consider supporting Taking Ownership PDX>>

RMLS Action Report by Lee McKnight

Months of Inventory crept up just barely from .6 to .8 last month. As we exited the holiday months, inventory ticked up. Some of that was expected, but we are still down 10.5% on inventory from the same time last year, so we cannot yet call this an improving market as far as buyers are concerned. On the other hand, sellers are enjoying double-digit appreciation and record low times on the market. Hopefully, the early spring "showers" us with high-quality housing to sell to all of our hungry buyers!

View the most recent report here>>