Existing home sales came in at a whopping 6,850,000, beating estimates with the highest print since 2006. Days on market fell from 36 days to 21 days on a year-over-year basis. Cash buyers remain at
Portland City Council OKs Plan That Calls For More Duplexes And Triplexes
Dated: December 14 2016
Developer Vic Remmers built this home on Southeast 65th Avenue in the Foster-Powell neighborhood.(Luke Hammill/Staff)
Portland is moving toward a set of policies that aims to discourage home demolitions while increasing density in residential neighborhoods.
The Residential Infill Project concept approved by the City Council on Wednesday would limit the size of new homes while allowing more duplexes, triplexes and small-scale apartment buildings.
Housing advocates say it could open up more affordable housing options in expensive areas of the city, where the average price hovers around $339,000.
But some residents argue that multifamily homes could fundamentally change their neighborhoods' character and hurt property values.
Even though the council approved the concept, it won't take effect until a reconstituted council approves new zoning code language. That's expected to happen next year.
The proposal to scale back the square footage of new houses is meant to discourage home demolitions. In the recent home-building boom, it became common to replace a single-family house with a larger, more expensive house.
Reducing the size of the replacement home, the theory goes, would reduce the profitability and by extension the incentive to demolish.
See full article at Oregonlive.com
For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....
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