Hello Real Estate Lovers!

I am guest blogging on Eugene-Real-Estate to let you know about the upcoming “BREWHAHA” happening downtown next Tuesday. Get ready for a lively debate over the two land use measures on the ballot:

Measure 20-134: Downtown Urban Renewal Plan

Panelists: Mayor Kitty Piercy and City Council member Bonnie Bettman

Measure 49: Land use measure to fix 37

Panelists: Ashley Miller from “Yes on 49” and Matthew Green-Hite from “Fix Measure 49″

Come on down, enjoy a nice refreshing beverage and hear both sides to make your own decisions.

Popularity: 44% [?]

The rumor of a large REI moving to Woodfield Station at 29th and Willamette is false. As most probably already know by now, it’s a Big 5. There are two large retail spaces for lease at Woodfield Station. One shows “lease pending”, the other building looks to be vacant with no pending lease.

Popularity: 24% [?]

This 20 acre lot in Fox Hollow is a steal given what homes in this area go for. $389,900, or less than $20k/acre. From what I understand of Oregon Law, this lot could be divided into four five acre parcels if necessary. See the tour here.

Popularity: 13% [?]

My buddy Christian, owner of Pacific Home Funding, filled me in on a little commercial development news.

Pottery Barn is coming to Oakway Mall. Here’s a link to the various permits that were filed.

First PF Changs, now Pottery Barn. Oakway Mall management has made some big moves to help the city of Eugene move past 1965 and into the modern world. There’s nothing wrong with a little self-interest along the way.

Giant sinkholes in Downtown Eugene are evidence of what can happen when investors’ self-interest is perceived as bad for all. Oakway appears to be a dogma free zone, and I think (most) everyone is impressed by what they have been able to do for that mall in 10 years.

Popularity: 18% [?]

$339,000 is a reasonable price for College Hill, and for this home. At least on the surface. It looks like it was recently remodeled, and that they put at least some work into the landscaping - not typical for many homes near Amazon, or in this part of South Eugene.

A friend told me that homes in this area have been going for ridiculous prices lately. This isn’t a ridiculous price so definitely worth a look if you’re shopping.

[tags]college hill eugene, eugene home[/tags]

Popularity: 33% [?]

This $8M building is going for $108.18 sq ft.

Several months ago I read an article in the Eugene Weekly, an interview with Don Woolley. He talked about how you determine the value of a building. Or how he does anyway.

He said that, on average, you will take the yearly projected or real rent revenue and divide by about 9.5%. So for this building we can assume he would need to collect $760K/yr in rent. Or about $10 sq ft.

What’s great about Whoolley’s interview is how he pegged Lazaar’s (shoe shop) at $.25 sq ft for rent, with a 9.5% divisor. In essence he was saying that Lazaar’s building, assuming it’s about 3500 sq ft, is worth about $110k for the building alone. With the land adding another 25% to that?

If that’s the case, for property on downtown Broadway, then the city had better pay a very low price for the proposed Downtown Collective. Since it may or may not come with a shaman, a bagwan, and a tainted salad bar.

Popularity: 100% [?]

Forbes makes a lot of sense here. If you’re a parent of a college student, why would you pay a University to house your student when you could buy real estate that will house your student and deliver a profit?

Not only that, but a smart parent might actually MAKE MONEY from other students that pay rent to share the house/duplex/whatever.

How many buyers’ agents pursue college parents to make this argument?

Popularity: 7% [?]