Eight Unique Factors that Make Owning Real Estate in Portland, Oregon, Highly Desirable

Portland, OR has been bestowed with certain characteristics that make owning a home, a leisure house, or an investment property in the area highly desirable. The real estate market in this part of the United States has fared well in the current downturn. The region has also been attractive for homebuyers and investors because it features some of the most beautiful scenic landscapes in the nation, a healthy living and recreational environment, and a large number of unique qualities, including the city's designation as the "greenest" and "cleanest" city in the nation. The following distinctive characteristics of Portland should appeal to many property buyers looking for a dream house or an investment property offering exceptional value:

•· Resilient real estate market. Prices in the area have declined so far by 20% from their peak, while nationwide they have fallen by 30%. At the same time, foreclosure rates in Portland have climbed to 1.8% as of September 2009, while nationwide they are 2.7%.

•· Lower property taxes. In terms of the real estate tax as a percentage of home value, Multnomah County, in which Portland is located, is ranked 383^rd in the nation, with the ratio of 0.91%. This makes it more favorable in terms of property taxes than 49% of the counties in the United States and better than the nationwide average of 0.96%.

•· "Green" and "Clean." Portland, OR has been ranked in the SustainLane's 2006 U.S. City Ranking as the most sustainable city in the nation. The city is ranked number one in terms of energy/climate, green building, and city innovation. It was ranked second in terms of the air and tap water quality and green economy. Portland also has the inner-city free public transportation, which contributes to the area's image of the "green" and "clean" community.

•· Natural beauties and scenic landscapes. Portland boasts some 37,000 acres of land covered by the scenic greenery and 150 miles of bike trails and lanes. It is home to the largest urban park in the nation. The area is decorated by the rugged splendor of the Cascades, the rolling hills of Oregon's wine country, and the breathtaking Oregon Coast. Therefore, this place offers a myriad of indoor and outdoor recreational activities and attractions, fairs and festivals, and community-driven activities.

•- Well educated and young population. On average, residents of Portland are better-educated than the average community in the United States. Nearly a third of all citizens in the area have higher education.

•- A cultural hotspot. Contradicting the stereotypes, Portland, OR is also a city of artists. The city has more artists, designers and people working in media than 90% of the communities in America. In support of the city's artistic appeal is the fact that Portland Art Museum is the oldest museum on the West Coast.

•- A tourist hotspot. Many travel and food magazines have been writing about Portland as one of the new hip places to visit.

•- Safe living environment. This year, the violent crime rate in Oregon has dropped to the lowest since the early 1970's. In terms of property crime, the State's property crime rate is at its lowest level since 1966.

All these characteristics showcase Portland as one of the most desirable locations to live and own a piece of real property. Given the new trend in home buying and property investing that promotes a combination of safe and pleasurable living with a prospect of housing equity appreciation; Portland should appear as the natural choice for many homebuyers and investors.