Last month, in Wolford v. Lopez, the Ninth Circuit Court of Appeals issued a decision with implications on commercial property owners’ rights to restrict firearms on private property. Interpreting the U.S. Supreme Court’s...more
Tonkon Torp business attorney Mick Harris moderates a conversation between Tonkon Torp real estate attorney David Petersen and special guest Jackson Lewis of Northwest Trustee & Management Services. The conversation focuses...more
According to the most recent RMLS data available, in May 2024, the Portland metropolitan real estate market showed signs of vibrancy and growth. Home prices continued their upward trend with the average sale price reaching...more
Last week, the Oregon Legislature took a significant step to address Oregon’s ongoing housing crisis, as Governor Tina Kotek signed a robust legislative housing package into law. Two pivotal measures, Senate Bill 1537 and...more
On March 29, 2023, Governor Kotek signed HB 2001 into law. This legislation contained changes to the residential eviction process in nonpayment cases. It is important for landlords and tenants alike to understand these...more
In April, the U.S. consumer price index (CPI) rose 4.9%, down from 5% in March. This data was widely reported as the first time that CPI inflation was under 5% since June 2021. As demonstrated by this reduction, it appears...more
For the unfamiliar, a 1031 Tax Deferred Exchange is a key mechanism for taxpayers to maximize the sale of business and investment properties. For any current or aspiring real estate investor, this tool—found in Section 1031...more
The residential real estate market across the United States has slowed and the Oregon market is no exception. However, as always—location, location, location—plays a significant factor in determining the impact of a cooling...more
Between a red-hot housing market and rising interest rates, prospects are looking bleak for would-be homeowners in our region. For the most part, however, Oregon buyers have avoided one significant obstacle that has plagued...more
Downtown Portland’s vacancy rate stood at approximately 26% in the second quarter of 2022, up from 13% during the same period in pre-pandemic 2019. Additionally, another two million square feet of downtown office space may...more
When can Oregon landlords terminate residential tenancy without cause? Tonkon Torp real estate attorney Mick Harris offers a quick review of Oregon residential tenancy laws.
Contact:
https://tonkon.com/people/mick-harris/...more
In June 2022, according to a Redfin report, Portland home prices were up 7.6% compared to last year, selling for a median price of $570,000. On average, homes in Portland sell after six days on the market. One would expect...more
On May 4, after a two-day policy meeting, U.S. Federal Reserve Chairman Jerome Powell announced the first of what is likely to be several interest-rate increases in 2022. The first, a 50-basis-point increase, is the single...more
Pursuant to HB 2534—a bill that passed the Oregon Legislature in 2021—homeowners associations and condominium associations are required to review their governing documents and either (1) remove discriminatory language or (2)...more
While life is full of uncertainties, one factor remains the same: housing prices are on the rise. This non-stop increase has generated a windfall for homeowners and significant anxiety for prospective buyers, as home prices...more
NOTE: On May 19, Governor Brown signed SB 282 into law.
As the COVID-19 vaccine roll-out continues and summer approaches, there is optimism that life may slowly be returning to normal—or at least a new type of normal....more
As society reckons with the enormous danger of climate change, there is no question that corporations must take responsibility for their contributions to rampant global warming, while working to reduce their emissions. For...more
According to recently released market trend reports, the number of condominiums listed for sale in Northeast and Southeast Portland dropped by 20% from September 2020 to December 2020 and the number of units sold increased...more
On December 21, 2020, the Oregon Legislature passed HB 4401, further extending the moratorium on residential evictions without cause and for nonpayment of rent from December 31, 2020 to June 30, 2021. The law also extends the...more
Two recent lawsuits filed in the U.S. District Court for the District of Oregon illustrate that Oregon banks are none too pleased about HB 4204. This legislation, passed by the Oregon legislature in June 2020, prohibits...more
10/21/2020
/ Banks ,
CARES Act ,
Commercial Real Estate Contracts ,
Coronavirus/COVID-19 ,
Eviction ,
Foreclosure ,
Model Contract Clauses ,
Moratorium ,
Oregon ,
Residential Real Estate Contracts ,
Sovereign Immunity
At the end of August, Fannie Mae announced an extension of a temporary moratorium on residential foreclosures and evictions that was originally set to expire on August 31, 2020. The moratorium applies to single-family...more
In an effort to expand investment opportunities in private companies, on August 26, 2020, the Securities and Exchange Commission adopted amendments to the definition of an “accredited investor.” The amendments expand the...more
In February 2019, the U.S. Environmental Protection Agency (“EPA”) released a comprehensive action plan to address toxic per- and polyfluoroalkyl substances (“PFAS”). According to EPA, these toxic, man-made chemicals include...more
The COVID-19 health crisis has indelibly affected society, impacting our behaviors, habits, and priorities. Unlike previous recessions, our relationship to spending and saving may be markedly different in our current...more
In April, the U.S. Supreme Court published their opinion in Atlantic Richfield v. Christian, further tangling the rules of engagement in the fight between residential property owners and industrial polluters...more