Friday, February 29, 2008

Premier Gearhart Building Site!!

Gearhart Loop Rd, Gearhart OR 97138

Excellent Gearhard location and ready to build. Level building site across from golf course and close to ocean beach. One of a kind with Gearhart charm.
For more photos & info go to AREA Properties website.
Contact Laurie Duey @ 503 791-6518 or Sandy Calvert @ 503 791-2682.

Southslope Bungalow

38 Nehalem, Astoria OR 97103
Reduced to $148,000.00!!!

Excellent potential in this brick house with full basement, large yard and Youngs Bay view.
For more photos & info go to AREA Properties website.
Contact Laurie Duey @ 791-6518 or Sandy Calvert @ 503 791-2682.

Astoria Darling Craftsman Bungalow!

This darling Astoria Craftsman remodel awaits your personal touches. New granite countertops, upgraded plumbing and wiring, and much more.
Located at 2613 Grand.
It has some river view from the front porch. Asking $169,000. Please contact me either by email or call 503-338-8024. See details by clicking this link

Wednesday, February 27, 2008

Forested Privacy

1732 SE 3rd, Astoria OR 97103
New home with open floor plan, 3 BR/2 BA, large kitchen, family room and formal dining area. Forested hillside and soaring eagle views.
For more photos & info go to AREA Properties website.
Contact Laurie Duey @ 503 791-6518 or Sandy Calvert @ 503 791-2682.

Brand New!

1721 SE 3rd, Astoria OR 97103
New contemporary southslope Astoria home. Single level living with spacious rooms, 1,090 sq.ft., 2 Br/2Ba plus two car garage. Nice forest views in a newly developed neighborhood. Additional off-street parking.
For more photos & info to to AREA Properties website.
Contact Laurie Duey @ 503 791-6518 or Sandy Calvert @ 503 791-2682.

Friday, February 22, 2008

Taking de bait on last night's debate

Last night I listened to segments of the presidential debate from the University of Texas between Obama and Clinton. Both candidates expressed concern about the vast number of foreclosures as a result of "predatory" lending and proposed a moratorium, similar to the one on the table from the Bush administration, only longer and more comprehensive. Both championed the victims of the housing crisis, who were the prey of devious lenders who floated confusing loans to people who didn't understand interest rates or prepayment penalties.
I generally don't buy this position. Many recent books describe the bubble mentality. People were caught up in the idea that real estate would continue to go up, develop an equity position and be able to sell for a tidy profit or refinance when necessary. The frenzy to take advantage of making money in real estate led to inflated prices. Also builders continued to build, flooding the inventory with larger more expensive homes. Higher prices began to make fewer people qualified and those that could buy, had already. The result was the inevitable burst.
The candidates depicted the victims like they were the disenfranchised from the "Dust Bowl" era. Actually a recent study showed that most foreclosure "victims" are either investors walking away from excess inventory or homeowners who had jobs, but were upside down in their home they had put no money of their own in anyway, and felt it was financially smarter to give the home up.
The idea of preventing the foreclosures through federal financial incentives or extending the time for a plan to be worked out sounds admirable and full of social consciousness. However it is worth remembering that banks actually are also winners in this scenario. This will ostensibly slow down their losses on the resale of the foreclosed properties. As property owners are bailed out, the increasing inventory will diminish and falling prices will begin to stabilize and maybe even prices will increase as less lower priced distressed properties are on the market.
Increased prices benefit only those few who can afford them and we are back where we started. Most people are so mired in debt or earn such a low wage, that home ownership becomes increasingly challenging, especially in light of tougher lending practices.
Both candidates seemed to cater in their debate to the less fortunate but, in reality, are more receptive on the subject of the housing crisis to the "special interests" of builders, banks, real estate people and financial speculators. Wouldn't it have been a hoot if a candidate had said "Wow, Isn't it wonderful that the price of something is falling. If it only comes down some more, maybe you will be able to share in the American dream of home ownership. Your wage and 50 cents will buy more than a ride on a bus!" Lee

Mill Pond Custom Craftsman

2 plus bedroom, 3 baths, security system, central vac।, unobstructed river view, see more details at:[PDF] Mill Pond।indd, and

Historic Astoria Italianate

1388 Franklin, Astoria OR 97103

Just 2 blocks to downtown Astoria and the Columbia River. Gracious home built in 1868 with vivid historical life. Over 2,000 sq.ft., 5 BR/2 BA with low maintenance grounds. Also included are basement with single garage.
For more photos & info go to AREA Properties website.
Contact Laurie Duey@ 503 791-6518 or Sandy Calvert @ 503 791-2682.

Better by the Dozen!!

630, 634, 638 Alameda, Astoria OR 97103
Twelve units featuring bay and river views. All units are well maintained & upgraded. Located near Smith Point with wonderful bay and river views. Decks, covering parking, storage and private laundry facilities enhance each unit.
For more info & photos go to AREA Properties website. Contact Laurie Duey @ 503 791-6518 or Sandy Calvert @ 503 791-2682.
See my other Clatsop County and Astoria Investment Properties on AREA Properties website.

Columbia River View 8-Plex

721-781 14th Street, Astoria Oregon
Centrally located 8 unit apartments. We maintained & upgraded close to downtown and Columbia River. Low maintenance, low vacancies and good rents.
For more photos & info go to AREA Properties website.
Contact Laurie Duey @ 503 791-6518 or Sandy Calvert @ 503 791-2682
See my other Astoria Investment Properties on AREA Properties website.

Thursday, February 21, 2008

Salesperson Cannot Represent Competing Purchasers Continues

Last week I summarized a Montana court case where an agent had represented two competing buyers on the same property. The buyer, who failed to get the property, claimed that the agent had failed to fulfill his duties and did not act in his best interest by representing competing bidders. The real estate brokerage and association argued that it was possible to represent both, since agents were trained in dual agency, and the agent had not done anything to adversely effect the outcome of the bidding. The winning offer was accepted based solely on own merit and the agent did nothing counter to the losing buyer's interests.
This topic spurred lively debate at our Tuesday morning Area Properties staff meeting and also brought an interesting perspective from a blog reader, Steve from Massachusetts. Most of my agents are suspicious of dual agency, sense its pitfalls and, in the past several years, have represented either the buyer or seller, but not both. They asked how can one effectively advance the positions of two of opposing forces? Likewise the question was raised whether the agent in the Montana case had disclosed his intention and obtained permission to represent multiple parties? It was assumed that this was not done and therefore, more than anything, evoked the ire of the losing bidder. Steve from Massachusetts contributed that agents in Massachusetts represent sellers only and disclose that information to buyers. He reminded me that single agency avoids the issue. Therefore the agent has no particular duties to buyers aside from honest and fair dealings unless otherwise hired by them. It reminded me of the old days in Oregon before dual agency when buyers felt totally without representation.
In the Montana case, as I read the article, the court narrowly sided with the plaintiff. The court felt it was not enough to sit on the sidelines or do nothing adverse while the forces duke it out. Rather, agency means taking an active role in promoting your client's position. This the court felt was not possible when representing competing clients on the same property. This, of course, says the same conditions are true when an agent represents a buyer and a seller on the same property. Even though dual agency is allowed, it is limited in scope and contradictory in nature. How many consenting sellers and buyers understand that maybe half a loaf isn't really bread at all? Lee

Wednesday, February 20, 2008

Astoria Victorian Fixer

1718 Franklin, Astoria Oregon
Classic Victorian just blocks from the Columbia River and downtown Astoria. Restoration in progress -- ready for personal touches!!
For more photos & info go to AREA Properties website.
Contact Laurie Duey @ 503 791-6518 or Sandy Calvert @ 503 791-2682.

Astoria Victorian Beauty!!

3978 Franklin, Astoria Oregon

Columbia River view historic home - original integrity preserved. Spacious rooms, Victorian charm, large lot, full basement & loads of potential!
For more photos & info go to AREA Properties website.
Contact Laurie Duey @ 503 791-6518 or Sandy Calvert @ 503 791-2682

Hilltop Cottage

410 Madison, Astoria

Cute and cozy! 2 bedroom like-new home with custom finish throughout. Single garage & professionally landscaping.
For more photos & information go to AREA Properties website.
Contact Laurie Duey @ 503 791-6518 or Sandy Calvert @ 503 791-2682

Monday, February 18, 2008

Cannery Loft Condo

New Listing on 39th Street at the Cannery loft condo development. Unit number 304 is located right on the river walk featuring fantastic river views. Must see to appreciate. More information on our website,

Friday, February 15, 2008

Salesperson Cannot Represent Competing Purchasers

An agent in my office, Mary Ann, shared with me an interesting article from Buyer's Rep, a publication from the Buyer's Agent council. The article is a summary of a recent Montana lawsuit in which a real estate agent submitted offers from two separate buyers on the same property. The question in the suit involves whether it is possible to represent fairly two parties competing for the same property and fullfill all the duties expected of the agent and promote the interests of the client. The plaintiff who failed to obtain the property alleged that this was impossible and that he had been misrepresented and harmed. The real estate office and association argued that real estate agents are trained to handle dual agency and are allowed to represent buyers and sellers at the same time. Also, as long as the agent did not act in an adverse manner to the client's interest, representing multiple clients fairly and competently, who are bidding on the same property, was certainly possible. How do you believe the court ruled? I am eager to hear your opinion about this case or on any other real estate related question. Click the comments link below or send e-mail. Lee, Area Properties

Wednesday, February 13, 2008

Krista's new Astoria South Slope listing

Now Sale Pending!

1886 8th Street Astoria, OR


Charming Cottage style 2 bedroom home on south slope of Astoria. Offers fenced yard, garage, new roof, and off street parking. Many nice interior upgrades to this home including laminate flooring and pellet stove in the living area.

Sunday, February 10, 2008

Area Properties, Astoria Oregon: (503) 325-6848

For Real Estate in Astoria, Oregon, call

(503) 325-6848

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Please call our main phone number: (503) 325-6848 for our usual fast and courteous service! We will connect you with an agent or answer your questions. Thank you!