Right now, we’re going to talk about the outside perception of the state of Oregon.
Bob Nelson, Eugene real estate investment broker
Marcia Edwards, Eugene residential real estate broker
Marcia Edwards: We’ve been looking over some activity and movement by United Van lines. Nationally, they have great information in regards to who moved and why they moved.
Some of the top ways that COVID impacted the decision to move included personal health and well-being, moving closer to family, change in employment status, family’s well-being and health, a desire to have a different lifestyle and exterior living spaces, move closer to outdoor recreational areas, move away from the urban areas, move to less quarantine restrictions, and to be able to get family out and about, out of the house. Very interesting dynamic there.
Bob Nelson: Well, it is interesting. And when you attempt to apply that to the state of Oregon, we have a phenomenon that is acting as a huge negative magnet at the North end of the state, specifically Portland, and its 100 plus days of riots. We’ve got a monster black eye, at least what I have seen in phone calls that I have received from individuals considering an investment and considering the state of Oregon.
For me to market a property successfully, I have to, first of all, sell the state of Oregon. Number two, I have to sell the fact that it is not Portland and it’s a long ways from Portland. And then I can talk about the property. But there’s a huge barrier that exists right now on the part of knowledgeable investors that Portland … Well, Seattle did it to themselves a while back. And evidently, their mayor’s not going to be running for reelection. And then it drifted to Portland and Portland didn’t do anything about it, effectively, from the outside view.
Marcia Edwards: Well, I also think it’s perception, not necessarily reality. But perception always lasts a lot longer than reality.
Bob Nelson: Right.
Marcia Edwards: So what happens is, people perceive that it may not be safe throughout the urban growth boundaries of Portland when it could be isolated to a certain area and a certain period of time that may have passed. That perception is going to do some damage, I agree, even in residential real estate.
Bob Nelson: Yeah. That’s something that’s going to last for a number of years. Now, not all people have a memory that goes that far. And it’s an interesting thing that is going to have to be overcome to make, again, the Oregon area, the Willamette Valley area, and so forth, attractive to outside capital.
Join Eugene, Oregon, real estate experts: Bob Nelson, Real Estate Investment Broker with Pacwest Real Estate Investments, and Marcia Edwards, Residential Real Estate Broker with Windermere Real Estate, daily at 5:30pm on KPNW for the “Real Estate Today” radio show.