“VALUATION TECHNIQUES FOR COMMERCIAL REAL ESTATE AMIDST A WORLD OF CHANGE”
Introduction
There is broad sweeping change in the mindset of the World economy caused by the credit crisis, economic downturn and long-term uncertainty, which is having a profound impact on the real estate market. Our job as appraisers is to interpret what is occurring in the [...]
Way back in November 1996, Oregon voters passed Measure 47. This was a constitutional amendment popularly referred to as the “cut and cap” tax reform act. The “cut” aspect of the legislation referred to a reduction in taxes for the 1997-98 tax year calculated as the lesser of the 1994-95 taxes or 90 percent of the 1995-96 taxes. Bonded debt would be exempt from the calculations. The “cap” aspect of the measure restricted growth in taxes to no greater than 3 percent annually after the 1997-98 tax year.
Sales Volumes
Existing home sales were down consistently across all 4 counties in 2008 by 32 to 34%
New Detached sales followed a similar trend, with Clark, Washington & Multnomah down 29-33%, and Washington down 18%
Attached housing market faired the worse, down from 40 to 54% across all four counties.
Overall, the volume of home sales was down [...]