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North Star Properties Blog

April 2024: Market Update

North Star is showing significant company growth with homeowners choosing to transition their home to the rental market rather than the sales market. The largest factor is that owners understand they can capture increased cash flow and long-term equity growth due to the low fixed interest rate on their existing home.  The ice storm earlier this year caused a lot of property damage in our communities, which increased the demand for rental properties, as a result, the market prices have increased due to a lack of rental housing supply. 30-year-fixed conventional mortgage rates have stabilized between 7.5% - 7.8% as the market has calmed, while rental demand has increased. Property equity growth looks to be increasing along with rental stabilization, our owners have been happy with their ongoing duet asset streams: Monthly rental income and continuous increasing property value.   Vendor pricing: Our Maintenance department has been driving increased vendor discounts due to the volume of work North Star is providing.  Generational wealth is a phrase we hear a lot. The current opportunity to build wealth is with past low-interest rates coupled with a rental housing shortage and a constant demand for the Pacific Northwest lifestyle.

How Rising Interest Rates and Working from Home are Affecting the Sales and Rental Markets

We are seeing continued change in the markets and how they react to each other. Typically sellers sell when the purchase demand is high and rent out their homes when this demand is lower. Typically buyers buy when interest rates are low and rent when interest rates are higher.

The Impact of Shifting Economics on the Housing Market

The State of the Market What a wild ride. The pressures of Covid, the war, rising interest rates, high housing demand and climbing inflation have put the Real Estate sale and rental markets on a run that we have never seen before. Some home owners have been cashing out and selling their rentals, but then the lowering of the stock market has thrown another wrinkle into things: where do they put their money? It may be a good idea to hold onto those rental properties that have positive cash flo...

Single Family Home Investment: Worth It?

Invest in the Long-Term Perspective As the owner of North Star property management, I started buying rental homes 30 years ago, and boy, was it painful. I wondered if the numbers would work out, especially adding in the costs of maintenance and remodeling. Remodeling!? How much is enough to boost rentability but not cost so much that the payments are not covered each month? What about vacancies, bad tenants, and market problems (like Covid)? Is this even worth it?

Invest in First Impressions: 7 Stunning Exterior Design Trends to Attract More Tenants

Create a First Impression that Will Attract Tenants To Your Investment All landlords want tenants who are compliant, diligent and respectful of the property they live in. And this couldn't be more true for North Star. In a niche high-end market such as ours, the caliber of clientele seeking rental properties, and the expectations therein, cannot be understated. So homeowners must create a first impression that will stand out and act as a beacon for quality tenants.  Beyond buying prope...

The View from the 10,000 ft Level

The unique blueprint for North Star Property Management was heavily influenced by longtime broker (and North Star family parent) Erin Nieland at The Hasson Company. Selling Real Estate in our area since 1972, she saw the original migration of people from California to Oregon, and many other market jumps. The start of North Star was to manage family properties that stemmed from her mantra, “Buy until it hurts, then buy more.” Growing up, she would always ask, ‘how much money did Grandma giv...

Our View of 2022

At North Star, we have seen tremendous housing fluctuations due to Covid, all of which had very strange timing. The lockdowns of 2020 slowed our business a bit, but created a backlog of demand for housing that exploded beyond all expectations in 2021. By the time the spring of 2021 hit, the demand from tenants and buyers moving to Portland and Bend from larger cities like San Francisco and Los Angeles skyrocketed. The focus of people moving here was anything suburbia, as they told us they w...