Portland is the largest city in the U.S. state of Oregon and the seat of Multnomah County. It is a major port in the Willamette Valley region of the Pacific Northwest, at the confluence of the Willamette and Columbia rivers. The city covers 145 square miles (380 square kilometers) and had an estimated population of 639,863 in 2016, making it the 26th most populous city in the United States, and the second-most populous in the Pacific Northwest. Approximately 2,424,955 people live in the Portland metropolitan statistical area (MSA), making it the 25th most populous MSA in the United States. Its Combined Statistical Area (CSA) ranks 18th with a population of 3,160,488. Roughly 60% of Oregon's population resides within the Portland metropolitan area.
Named after Portland, Maine, the Oregon settlement began to be populated in the 1830s near the end of the Oregon Trail. Its water access provided convenient transportation of goods, and the timber industry was a major force in the city's early economy. At the turn of the 20th century, the city had a reputation as one of the most dangerous port cities in the world, a hub for organized crime and racketeering. After the city's economy experienced an industrial boom during World War II, its hard-edged reputation began to dissipate. Beginning in the 1960s, Portland became noted for its growing progressive political values, earning it a reputation as a bastion of counterculture.
The city operates with a commission-based government guided by a mayor and four commissioners as well as Metro, the only directly elected metropolitan planning organization in the United States. The city government is notable for its land-use planning and investment in public transportation. Portland is frequently recognized as one of the world's most environmentally conscious cities because of its high walkability, large community of bicyclists, farm-to-table dining, expansive network of public transportation options, and over 10,000 acres (4,000 hectares) of public parks. Its climate is marked by warm, dry summers and cool, rainy winters. This climate is ideal for growing roses, and Portland has been called the "City of Roses" for over a century. "Keep Portland Weird" is an unofficial slogan for the city.
A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Portland, Vancouver, Hillsboro, Oregon. 70% of Sellers list with the first Agent they speak to, and we find that most Sellers who agree to pay a full 6.0% commission do not realize that real estate commissions are NEGOTIABLE!
The national average total real estate commission in 2015 was 5.26% *
In Portland, Hillsboro, Oregon, you will find the following real estate commissions charged*:
Typical Asking Commission: 6.0%
Competitive Commission: 5.0%-5.5%%
Very Competitive Commission: 4.5%-4.99%
The median existing single-family home price in the West rose 7.5%, to $372,400, in the second quarter of 2017 compared to the the second quarter of 2016. Median sales prices for existing homes in the state's Major Metropolitan Areas are as follows:
In the State of Oregon, median home prices are as follows*:
|Metro Area||Median Sales Price||% of Annual Change|
Real Estate Commissions are split between the listing Agent (who works for you to sell your home) and what will be offered on the MLS to any Agent that brings a Buyer to buy your home. In a typical 6% total commission, the listing Broker is paid 3% and 3% is offered on the MLS to all Agents working with Buyers (so they can see what they will earn if they bring their Buyer to your home and complete the sale).
In a competitive commission structure, ranging from 5% to 5.5%, the listing Agent agrees to a listing commission of 2% to 2.5%, and they will recommend that they offer, on the MLS, a commission of 2.5% to 3.0% to the Buyer’s Agent. Your Agent will usually tell you that if they offer less than 2.5% on the MLS that your home “won’t be shown”. This makes sense, in that, all things being equal, the Buyer’s Agent will want as big a payday as possible when they find the right home for their client. This is also especially true if market conditions favor Buyers in a so-called “Buyer’s Market” (high inventory levels in a period of unstable prices).
When you meet with your listing Agent, also remember that, unless they are a “Broker/Owner”, they will have to split their commission with their employing Broker. High producing Agents can work up to getting 90% of the listing commission from their Broker, but typically less experienced Agents may only receive 50% of the listing commission.
At ListingBidder.com, we first negotiate on your behalf a competitive real estate commission structure with HIGHLY EXPERIENCED, HIGHLY RECOMMENDED Agents who know your LOCAL market (even YOUR NEIGHBORHOOD); each ready to bid for your business. These Agents are not just ordinary Agents as many of them are broker/owners and they have the best ability to negotiate their commissions and be competitive, in part because they do not have to share their listing commission with the brokerage firm. This is a direct benefit to you and will save you thousands of dollars in real estate commission fees over the typical fees in Oregon.
Sellers who are also buying a home in the same local market have a volume discount advantage. ListingBidder can use this opportunity to negotiate an even better real estate commission rate fee on the sale of your home because the Agent will be more willing to give a deeper discount (a very competitive rate) knowing there is additional commission being earned on the purchase of another home. Be sure to check the box that you are also buying a home locally to receive these better rates.
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The 2010 census reported the city as 76.1% White (444,254 people), 7.1% Asian (41,448), 6.3% Black or African American (36,778), 1.0% Native American (5,838), 0.5% Pacific Islander (2,919), 4.7% belonging to two or more racial groups (24,437) and 5.0% from other races (28,987). 9.4% were Hispanic or Latino, of any race (54,840). Whites not of Hispanic origin made up 72.2% of the total population.
In 1940, Portland's African-American population was approximately 2,000 and largely consisted of railroad employees and their families. During the war-time Liberty Ship construction boom, the need for workers drew many blacks to the city. The new influx of blacks settled in specific neighborhoods, such as the Albina district and Vanport. The May 1948 flood which destroyed Vanport eliminated the only integrated neighborhood, and an influx of blacks into the northeast quadrant of the city continued. Portland's longshoremen racial mix was described as being "lily-white" in the 1960s, when the local International Longshore and Warehouse Union declined to represent grain handlers since some were black.
At 6.3%, Portland's African American population is three times the state average. Over two thirds of Oregon's African-American residents live in Portland. As of the 2000 census, three of its high schools (Cleveland, Lincoln and Wilson) were over 70% white, reflecting the overall population, while Jefferson High School was 87% non-white. The remaining six schools have a higher number of non-whites, including blacks and Asians. Hispanic students average from 3.3% at Wilson to 31% at Roosevelt.
Portland residents identifying solely as Asian Americans account for 7.1% of the population; an additional 1.8% is partially of Asian heritage. Vietnamese Americans make up 2.2% of Portland's population, and make up the largest Asian ethnic group in the city, followed by Chinese (1.7%), Filipinos (0.6%), Japanese (0.5%), Koreans (0.4%), Laotians (0.4%), Hmong (0.2%), and Cambodians (0.1%). A small population of Yao people live in Portland. Portland has two Chinatowns, with New Chinatown along SE 82nd Avenue with Chinese supermarkets, Hong Kong style noodle houses, dim sum, and Vietnamese phở restaurants.
With about 12,000 Vietnamese residing in the city proper, Portland has one of the largest Vietnamese populations in America per capita. According to statistics there are 21,000 Pacific Islanders in Portland, making up 4% of the population.
Portland's population has been and remains predominantly white. In 1940, whites were over 98% of the city's population. In 2009, Portland had the fifth-highest percentage of white residents among the 40 largest U.S. metropolitan areas. A 2007 survey of the 40 largest cities in the U.S. concluded Portland's urban core has the highest percentage of white residents. Some scholars have noted the Pacific Northwest as a whole is "one of the last Caucasian bastions of the United States". While Portland's diversity was historically comparable to metro Seattle and Salt Lake City, those areas grew more diverse in the late 1990s and 2000s. Portland not only remains white, but migration to Portland is disproportionately white.
The Oregon Territory banned African American settlement in 1849. In the 19th century, certain laws allowed the immigration of Chinese laborers but prohibited them from owning property or bringing their families. The early 1920s saw the rapid growth of the Ku Klux Klan, which became very influential in Oregon politics, culminating in the election of Walter M. Pierce as governor.
The largest influxes of minority populations occurred during World War II, as the African American population grew by a factor of 10 for wartime work. After World War II, the Vanport flood in 1948 displaced many African Americans. As they resettled, redlining directed the displaced workers from the wartime settlement to neighboring Albina. There and elsewhere in Portland, they experienced police hostility, lack of employment, and mortgage discrimination, leading to half the black population leaving after the war.
In the 1980s and 1990s, radical skinhead groups flourished in Portland. In 1988, Mulugeta Seraw, an Ethiopian immigrant, was killed by three skinheads. The response to his murder involved a community-driven series of rallies, campaigns, nonprofits and events designed to address Portland's racial history, leading to a city considered significantly more tolerant than in 1988 at Seraw's death.
During the early 2000s, displacement of minorities occurred at a drastic rate. Out of 29 census tracts in north and northeast Portland, ten were majority nonwhite in 2000. By 2010, none of these tracts were majority nonwhite as gentrification drove the cost of living up. Today, Portland's African-American community is concentrated in the north and northeast section of the city, mainly in the King neighborhood. In 2017, the gentrification of Portland was named by Realtor.com to be among the fastest gentrification of cities in the United States.
Portland's location is beneficial for several industries. Relatively low energy cost, accessible resources, north–south and east–west Interstates, international air terminals, large marine shipping facilities, and both west coast intercontinental railroads are all economic advantages. The U.S. consulting firm Mercer, in a 2009 assessment "conducted to help governments and major companies place employees on international assignments", ranked Portland 42nd worldwide in quality of living; the survey factored in political stability, personal freedom, sanitation, crime, housing, the natural environment, recreation, banking facilities, availability of consumer goods, education, and public services including transportation. In 2012, the city was listed among the 10 best places to retire in the U.S. by CBS MoneyWatch.
The city's marine terminals alone handle over 13 million tons of cargo per year, and the port is home to one of the largest commercial dry docks in the country. The Port of Portland is the third-largest export tonnage port on the west coast of the U.S., and being about 80 miles (130 km) upriver, it is the largest fresh-water port. The city of Portland is largest shipper of wheat in the United States, and is the second-largest port for wheat in the world.
The steel industry's history in Portland predates World War II. By the 1950s, the steel industry became the city's number one industry for employment. The steel industry thrives in the region, with Schnitzer Steel Industries, a prominent steel company, shipping a record 1.15 billion tons of scrap metal to Asia during 2003. Other heavy industry companies include ESCO Corporation and Oregon Steel Mills.
Technology is a major component of the city's economy, with more than 1,200 technology companies existing within the metro. This high density of technology companies has led to the nickname Silicon Forest being used to describe the Portland area, a reference to the abundance of trees in the region and to the Silicon Valley region in Northern California. The area also hosts facilities for software companies and online startup companies, some supported by local seed funding organizations and business incubators. Computer components manufacturer Intel is the Portland area's largest employer, providing jobs for more than 15,000 people, with several campuses to the west of central Portland in the city of Hillsboro.
The Portland metro area has become a business cluster for athletic and footwear manufacturers. The area is home to the global, North American or U.S. headquarters of Nike, Adidas, Columbia Sportswear, LaCrosse Footwear, Dr. Martens, Li-Ning, Keen, and Hi-Tec Sports. While headquartered elsewhere, Merrell, Amer Sports and Under Armour have design studios and local offices in the Portland area. Portland-based Precision Castparts is one of two Fortune 500 companies headquartered in Oregon, the other being Nike. Other notable Portland-based companies include film animation studio Laika; commercial vehicle manufacturer Daimler Trucks North America; advertising firm Wieden+Kennedy; bankers Umpqua Holdings; and retailers Fred Meyer, New Seasons and Storables.
Breweries are another major industry in Portland, which is home to 85 breweries/microbreweries, the most of any city in the world. Additionally, the city boasts a robust coffee culture that now rivals Seattle and hosts over 20 coffee roasters.
In 2016, home prices in Portland grew faster than in any other city in the United States. Apartment rental costs in the Portland metro area are now equal to those in other major cities such as San Diego, Boston, Miami, Seattle, and Los Angeles with the average one bedroom costing between $1,300 and $1,950 per month. New sky rise apartment building and condo complexes have changed the skyline of the city, adding over 16,000 new units since 2010.