Everyone is talking about inventory shortages – and to give you a straight answer, we all expected this. Consumers believe we are at the bottom even though market statistics tell us we hit the bottom last year. No one wants to sell at the bottom, so we’re seeing a shortage of homes for sale in the market. The homes that are going on the market now are a result of consumers who want to sell, not the ones the past few years who may have been desperate to sell. Today’s seller doesn’t have to sell, they want to sell and move up, move on or change their housing needs. The recent Market Action report from RMLS has Portland inventory at 2.5 months. 6 months inventory on the market is considered a balanced market.

Which leads to frustrated buyers. Inventory shortages lead to buyers not finding the home they are looking for and feeling like they need to “settle.” No one wants to settle or feel they were forced to buy a home that didn’t meet all their needs. A recent Wall Street Journal article cited “low inventory as buyer’s predominant worry.” A new trend we are seeing at Renaissance is that frustrated buyers are taking a new tactic. They are custom building. They can’t find what they want for sale, so they buy an empty lot, or ask us to help them find a lot, and we customize a home that DOES meet their needs, so they don’t have to settle. They get everything they want, just the way they want it. We even have buyers tearing down their old home because they like the neighborhood so much and rebuilding right in its place. Now that is creative!

Which leads to price increases. The Portland market is still 20% below its peak in 2007. With low inventory, the homes that are on the market are commanding higher prices, which leads to a lift in the overall market. More buyers are out there competing for the same homes. The good news is that with the market recovering more sellers are testing the market. Nationally 8% more people put their home up for sale this year than one year ago.

The market has been up and down the past five years. This is yet another hurdle to full recovery. As we ride out the recovery, the market will return to a more normal state but with that recovery expect interest rates to follow suit and rise with it. We’ve already seen a roughly ½ point increase in rates, now hovering around 4%.  If you can find the home you want now, lock in a low price and a historically low rate and buy today. You’ll kick yourself in a few years that you didn’t act when you could have.

To get the most out of your air conditioner during the peak summer months, Dave Teller, Renaissance Homes’ Quality Assurance Field Specialist, recommends that homeowners run air conditioning units  now for a few minutes to make sure it is working normally. If you find a problem now, it’ll be easier to get it fixed promptly rather than during  the peak of summer, when HVAC (heating, ventilation and air conditioning) contractors tend to be busier.

•          Have a licensed HVAC contractor perform seasonal maintenance checkups for summer; they will make sure to also check the hose for algae or sediment buildup which causes your unit to become clogged and work less efficiently.

•          To ensure that your compressor is working efficiently, make sure to clear all vegetation that could block it from getting adequate airflow. The sides of the unit require at least 12 to 18 inches of clearance for proper performance.

•          To assure proper air flow in your home, ensure that the air supply registers are not blocked by rugs, draperies and furniture.

•          Winter weather can be harsh and can crack and harden weather seals and caulking. By checking seals around windows and doors now, you’ll not only reduce your air conditioning bill, but could also catch the areas needing to be addressed to prevent water from entering your home and potentially causing destructive water damage.

By practicing the tips mentioned above, you’ll better maintain your HVAC system and ensure that it will run — and work —  more efficiently. In the end, you will save money and have reduced energy bills, because it doesn’t have to work as hard to get the job done right.

Renaissance Homes is an award winning Street of Dreams custom home builder specializing in green building, remodeling and renovations for the Portland market. Visit our Design Studio to personalize your next home.

Looking for the option of additional income with your home purchase?

Have a student returning from college?

Make sure to tour our Ainsworth plan for sale at 3610 SE Haig in Portland and view the additional 487 sq. foot Accessory Dwelling Unit (ADU).

ADU’s allow for sustainable multi-generational living in accessible neighborhoods. This ADU includes a separate entrance and its own kitchen, sleeping area, bathroom and living space.

More information about ADUs: http://renaissance-homes.com/accessory-dwelling-units-adu

Renaissance Vintage Collection – LEED certified new vintage homes in Portland! All move-in ready!

• 8015 SW 46th | Multnomah Village | $599,900 | Open Sat 12 to 3 p.m. and Sun 12 to 2:30 p.m. | Move-in ready
• 4901 NE 36th | Beaumont-Wilshire | $549,900 |  Open Sat 12 to 2:30 p.m. | Move-in ready | New price!
• 3610 SE Haig | Richmond | $539,900 |  Open Sat and Sun 3 to 5 p.m. | Move-in ready | With Accessory Dwelling Unit

Amanda Andruss| 503.969.4939 | AAndruss@Renaissance-Homes.com

Lee Wells | 503.899.7754 | LWells@Renaissance-Homes.com

Renaissance Woods – Stunning Lake Oswego location with greenspace.

This picturesque Lake Oswego location is close to Bridgeport, I-5 and feeds to award winning Lake Oswego schools. Personalize your dream home in this special neighborhood of soaring trees and open space. Starting in the $550s.

• 5052 Woodcrest Lane | New Westminster | Lake Oswego | $669,900 | Open Sat. & Sun. 12 to 5 | Under construction

Jack Hall | 503.545.3982 | JHall@Renaissance-Homes.com

Rosemont Pointe – Territorial views and a community pool.

This gorgeous West Linn neighborhood is home to stunning million dollar houses and a private community swimming pool. We have one move-in ready home available or, select a lot and personalize your new home in our Design Studio. Starting in the $500s.

• 2728 Ridge Lane | Bellissimo NW | West Linn | $599,900 | Move-in ready | Open Sat and Sun 12-3
• 2724 Ridge Lane | Cascadia | West Linn | $619,900 | Under construction. Hurry to select finishes.

Leslee Lahey | 503.969.0125 | LLahey@Renaissance-Homes.com

Renaissance Homes is an award winning Street of Dreams custom home builder specializing in green building, remodeling and renovations for the Portland market. Visit our Design Studio to personalize your next home.

Recently completed, this new custom built home on Upper Drive in Lake Oswego showcases the expertise of Renaissance Homes and the value of working with the award-winning homebuilding company from the get-go.

Situated on three-fourths of an acre, the 4,937 sq. ft. Nantucket style home is three years in the making – but not by choice.

Renaissance to the rescue

Upon purchasing the land and removing a pre-existing home, the land owner began seeking permits and designs for the new custom home. After multiple issues presented themselves during these early processes, the land owner eventually contacted Renaissance in 2012 to build the home he had planned.

“He heard we are experts and would get the job done,” said Scott Gaunt, Renaissance’s director of custom homes. “We were able to negotiate the issues and clear the confusion and start construction.”

In seven months, Renaissance was able to bring the land owner’s designs to life and mitigate any miscommunicated forward-planning before Renaissance was involved.

Customized construction

The five bedroom, five bathroom home reflects an initiative for Renaissance Homes that continues to gain momentum – custom homes.

The decorated Street of Dreams builder known for its upscale and sustainably-built suburban homes – in addition to its Vintage Collection of homes throughout Portland – is finding success through an even more customized experience.

Homeowners choose a location, home plan and work with the design team to choose interior and exterior selections. And these clients enjoy even more customization capabilities.

Completed sophistication

Renaissance built the four bedroom, five bathroom three-story home according to its unique floorplan with an intimate dining room, private den on the main floor and garage rated for shop power equipment. Interior and exterior finishes chosen through Renaissance’s Design Studio further personalized the space to create sophistication through the kitchen’s crisp light palette and warmth with multiple fireplaces.

“I like the fireplace in the master suite next to the veranda type deck,” Gaunt said of the private, comfortable space beneath a canopy of trees.

The home lives large – and high-tech — with an oversized in-ground basement, spacious master closet, customized wiring and lighting and an unfinished basement room fit for a wine cellar.

With GE Monogram kitchen appliances, a box beam ceiling, free-standing soaking tub in the master, enlarged deck with covered area and expansive wood floors, the home is fit for a family who loves to entertain and keep an organized home through its abundant storage solutions.

Each custom home project is unique, as no two lots are the same. Even though Renaissance arrived late on this project, the company can walk clients through every step of the homebuilding journey – site excavation, plan design, permitting, site improvements, utility coordination and installation, site grading, road construction, home construction, landscaping coordination and interior design customization.

“Once Renaissance became involved, the client was able to relax and focus on his career because he was confident in our ability to work through the issues and build the home he desired,” Gaunt said. 

For more information, and for a custom home consultation, visit www.Renaissance-Homes.com or call Jack Hall at 503-545-3982.

Renaissance Homes is an award winning Street of Dreams custom home builder specializing in green building, remodeling and renovations for the Portland market. Visit our Design Studio to personalize your next home.

An important reason why the economy has not recovered from the Great Recession as quickly as in prior economic downturns is that a traditional leader of economic growth – housing – has been stifled.

In recent months however, housing has returned to contributing to economic growth, with home building alone responsible for 20 percent of GDP growth in the last six quarters.

And when it comes to job growth and housing, it is often the change in payroll employment for home builders and residential contractors that attracts the most attention. As of April 2013, total home building employment (builders and contractors) stood at about 2.1 million according to the Labor Department, growing off of cycle lows. And just over the last year such employment is up almost 100,000 jobs.

While building employment is substantial, there is a significant amount of other housing-related employment, whether connected to building, furnishing a house, or other housing needs.

For example, there are firms – recognized as “associate members” in local home builder associations – who enable builders to build, providing a bevy of products and services, including lumber sales, windows, appliances or financial services. These firms tend to be small businesses spread out across the country. Take Select Signs located in Dayton, Ohio, which has a staff of seven full-time employees and provides products to residential and commercial builders and developers. The firm notes that, “When builders build, we see expansion in our own business. And this growth then spreads from us to our suppliers.”

And of course, these beneficial economic impacts are not limited to building. As the chart above indicates, accounting for housing related retail sales, finance, leasing, property management, service provision and even furniture and housing appliance manufacturing and logging adds more than 2.7 million jobs to the housing employment base of approximately 5 million.

As housing markets continue improving across the nation, these sectors are set for job growth. As home sales increase, housing-related spending will increase. Prior research indicates that the typical buyer of a newly built home will spend $7,400 more than a non-moving household in the first two years after purchase of the residence on furniture, household furnishing, remodeling and appliances. Similarly, a typical buyer of an existing home will spend $4,000 more.

Given the considerable amount of pent-up housing demand, particularly among younger Americans, the ever-improving housing market should continue its role as a provider of a virtuous circle. Growing housing demand creates jobs across a wide array of sectors and regions, which in turn unlocks additional housing demand.

Robert Dietz is an economist with the National Association of Home Builders (NAHB). Previously an economist with the Congressional Joint Committee on Taxation, Robert writes on housing and policy issues at NAHB’s economics blog Eye on Housing. Follow Robert on Twitter at @dietz_econ. The information presented here does not necessarily represent the views of NAHB or its membership.

Posted on US News and World Report | June 10, 2013 | Robert Dietz

Renaissance Homes is an award winning Street of Dreams custom home builder specializing in green building, remodeling and renovations for the Portland market. Visit our Design Studio to personalize your next home

The district stretches west to east from the base of the West Hills (Tualatin Mountains) to I-405 (between NW 15th and 16th avenues), and north to south from NW Nicolai St. and the Willamette River to W Burnside St. It borders the neighborhoods of Forest Park and Hillside on the west, Northwest Industrial on the north, the Pearl District on the east, and Goose Hollow on the south.

This part of Portland is known more by names for various streets and areas within it than by its official name. These include:

• NW 23rd Ave. Dubbed Trendy-third, this major shopping street is lined with swanky clothing boutiques and other upscale retail, mixed with cafes and restaurants. This area is also known as Uptown (particularly its southern end near W Burnside St.) and includes Nob Hill (centered on NW 23rd Ave. and NW Lovejoy St.).
• NW 21st Ave. The neighborhood’s other main commercial district is a dining and entertainment destination, with popular restaurants, an independent film theater, and numerous bars, pubs, and nightclubs.
• The Alphabet Historic District, an area zoned for historic preservation running roughly from NW 24th Ave. to NW 2nd Ave., and from NW Vaughn St. to W Burnside St. It is named for the alphabetical progression of street names in the area. The Historic Alphabet was platted in 1865 by sea captain John Couch and officially put on the National Register of Historic Places in 2000. There are four criteria to be included in the Registry: 1) The birthplace of important local institutions, 2) The residence of people who contributed to the shaping of the city, 3) A significant collection of quality examples and styles of architecture, 4) important archeological artifacts. The period of significance begins in 1880, the earliest date of construction for the oldest remaining resources and ends with the beginning of World War II.

The placement of the neighborhood on the National Historic Register was the culmination of 30+ years of efforts begun in the late 1960s to save a “blighted” neighborhood. Hundreds of buildings had been lost and entire blocks of century old buildings were slated for demolition to build parking lots and freeways. Eventually like-minded residents banded together and sued City Hall. As a result, the Office of Neighborhood Associations was established and a Comprehensive Planning document was adopted leading eventually to the high level of livability that Portland residents enjoy today.

Beyond NW 21st and 23rd are residential districts and recreational areas, such as the forested Macleay Park (acquired 1897, in the Forest Park neighborhood).

Legacy Good Samaritan Hospital and Medical Center and Linfield College-Portland Campus are located between NW 23rd and NW 22nd avenues.

Several characters in Portland native Matt Groening’s television show The Simpsons have names based on the alphabetically named streets in the Northwest District: Ned Flanders, the bully Kearney, Reverend Lovejoy, Mayor Quimby, Milhouse Van Houten (actually in North Portland), and possibly C. Montgomery Burns[ide] (also named for the large neon Montgomery Park, formerly Montgomery Ward, sign).

Parks and Community Centers

Northwest District residents have two parks within their borders and easy access to the 5,000 plus acre Forest Park.

• Wallace Park (5.39 acres) is located at NW 25th Avenue and NW Raleigh Street adjacent to the Chapman Elementary School. Facilities include a basketball court, dog off-leash area, horseshoe pit, picnic site, playground, soccer field, softball field, tennis court and restrooms.
• Couch Park (2.39 acres) at NW 19th Avenue and NW Glisan Street includes an outdoor basketball court, restroom, dog off-leash area, and playground.

The Friendly House is located at NW 26th Avenue and NW Savier and it is truly a community asset. Founded in 1930, the “neighbor helping neighbor” philosophy is at the heart of Friendly House and its programs. It has programs for children, adults, and seniors. Although small in size, it does have a room full of exercise equipment along with a gym that is used constantly.

The Northwest District has 15 acres of park land and open spaces according to Metro and the Portland Department of Parks and Recreation.

Renaissance Homes is proud to be building new LEED certified vintage style new homes in the Alphabet District of Northwest Portland neighborhood. Visit us today and become a part of this close knit Portland community.

Renaissance Homes is an award winning Street of Dreams custom home builder specializing in green building, remodeling and renovations for the Portland market. Visit our Design Studio to personalize your next home.

This position provides direct support to the Sales and Marketing Department on matters relating to the sale of new homes during Open Houses.

• Prepare for weekend open houses. Signage delivery, helium, balloons, flyers
• Meet, greet and qualify potential home buyers in a professional and courteous manner
• Assist with administrative duties, files, documents, and general paperwork requirements
• 4 year college degree required
• Strong writing, communication and organizational skills
• Familiar with social media
• Oregon Real Estate License required within 90 days of hire
• This is an entry-level position and you will be required to work weekends. Wed/Thurs are your days off.

Forward resumes to marketing@renaissance-homes.com, along with cover letter explaining your strengths and why you are uniquely suited to work for Renaissance Homes. Candidates will be contacted for interviews.  NO CALLS please.

Renaissance Homes is an equal opportunity employer.

Renaissance Homes is an award winning Street of Dreams custom home builder specializing in green building, remodeling and renovations for the Portland market. Visit our Design Studio to personalize your next home.

Broker Luncheon – Tuesday, June 11th, 12-2pm.

Rosemont Pointe

2728 Ridge Lane | Bellissimo | $599,900 | MLS# 12437840

Directions

From I-205 take the 10th St Exit. Head North on 10th. Right on Salamo Rd. Continue up the hill. Right on Rosemont (blinking red light). Rosemont Pointe will be on the right at Ireland Lane.

Contact

Leslee Lahey | LLahey@renaissance-homes.com | 503.969.0125

Renaissance Homes is an award winning Street of Dreams custom home builder specializing in green building, remodeling and renovations for the Portland market. Visit our Design Studio to personalize your next home.

With Dragon Boat Races on the Willamette and the Rose Festival’s Grand Floral Parade, there’s going to be something for everyone – even the unabashed and adventurous. Yes, the annual and infamous Naked Bike Ride departs at 10 p.m. Saturday night to make its way through the city. But while you are out and basking in the sunshine, make sure you stop by one of Renaissance Homes’ open houses. We’ve got several properties for sale to show off this weekend – in the heart of all the action.

Renaissance Vintage Collection – LEED certified new vintage homes in Portland! All move-in ready!

• 5939 SE Ash | Mt. Tabor | $479,900 | Open Sat & Sun 12 to 3 p.m. | Move-in ready | New price!
• 4901 NE 36th | Beaumont-Wilshire | $549,900 |  Open Sat & Sun 12 to 3 p.m. | Move-in ready | New price!

Amanda Andruss| 503.969.4939 | AAndruss@Renaissance-Homes.com

Lee Wells | 503.899.7754 | LWells@Renaissance-Homes.com

Renaissance Woods – Stunning Lake Oswego location with greenspace.

This picturesque Lake Oswego location is close to Bridgeport, I-5 and feeds to award winning Lake Oswego schools. Personalize your dream home in this special neighborhood of soaring trees and open space. Starting in the $550s.

• 5052 Woodcrest Lane | New Westminster | Lake Oswego |  $669,900 | Open Sat. & Sun. 12 to 5 | Under construction

Jack Hall | 503.545.3982 | JHall@Renaissance-Homes.com

Rosemont Pointe – Territorial views and a community pool.

This gorgeous West Linn neighborhood is home to stunning million dollar houses and a private community swimming pool. We have one move-in ready home available or, select a lot and personalize your new home in our Design Studio. Starting in the $500s.

• 2728 Ridge Lane | Bellissimo NW | West Linn | $599,900 | Move-in ready | Open Sat. 12-5
• 2724 Ridge Lane | Cascadia | West Linn | $619,900 | Under construction. Hurry to select finishes.

Leslee Lahey | 503.969.0125 | LLahey@Renaissance-Homes.com

Renaissance Homes is an award winning Street of Dreams custom home builder specializing in green building, remodeling and renovations for the Portland market. Visit our Design Studio to personalize your next home.

Explore the city this summer and learn why Renaissance Homes continues to build environmentally friendly homes in the family-friendly city. The 26-lot Renaissance at Rychlick Farm neighborhood recently opened off SW Edy Road and features generously sized home surrounded by greenspace. And with so many community events – such as the Robin Hood Festival – coming up, it’s no wonder why the community attracts such go-getters.

Here are some inexpensive ideas to keep you – and your “merry men” – busy this summer in Sherwood:

1. Sherwood Saturday Market: Taking place at Cannery Square Plaza next to the city’s library on Saturdays from 9 a.m. to 1 p.m. from now through September, the market offers local produce, gourmet food and quality artisans. Live music provides a vibrant soundtrack to your shopping experience from vendors such as Big O’s Pizza, Farmhouse Flowers, Lucy’s Tropical Juice and Coritas Medixan Food. Visit http://sherwoodmarket.blogspot.com for more information.
2. Cruisin’ Sherwood: The popular 23^rd annual Cruisin’ Sherwood classic and custom car show June 8 features 550+ hot rods, classics, collector and custom cars, all proudly displayed outside in downtown Sherwood. The family-friendly event features music for the kids, unique vendors, arts and crafts projects, a beer garden and more. For more information, visit http://cruisinsherwood.com.
   

   http://cruisinsherwood.com

3. Music on the Green: Taking place at Stella Olsen Memorial Park on Wednesdays, the 6:30 to 8:30 p.m. concert series will kick off July 11 with ’80s hits from Radical Revolution. Food, beer and wine will be available. For more information and the complete schedule, visit www.musiconthegreen.net.
4. Robin Hood Festival: Taking place July 19 and 20 in Old Town Sherwood, the Robin Hood Festival has been the city’s signature event for 60 years. Dress up and enjoy medieval re-enactments, Maid Marian’s Court, Robin Hood and his merry men, a community parade, knighting ceremony, castle building, a teen dance, crafts for the kids, food and a beer and wine garden. The celebrations take place near City Hall, which is at 22560 SW Pine St. For more information, visit http://robinhoodfestival.org.
   

   www.robinhoodfestival.org

5. Pix on the Plaza: Enjoy free outdoor movies the last three Fridays in August at Cannery Square Plaza in Old Town Sherwood. Activities begin at 7 p.m. and movies start at dusk. For more information, visit www.sherwoodmainstreet.org closer to the event’s starting date.

And if you lived at Renaissance at Rychlick Farm in Sherwood, you wouldn’t be far from all the action. Jack Hall (503-545-3982) with Renaissance Homes would love to show you around the neighborhood so you can stay involved in the busy community. Stay active this summer and live in a home you’re proud to come home to.

Renaissance Homes is an award winning Street of Dreams custom home builder specializing in green building, remodeling and renovations for the Portland market. Visit our Design Studio to personalize your next home.