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At Home in Lents (and Double Digit Appreciation)

Lents has gone through years of revitalization to make it one of Portland’s hottest, most in-demand (aka still somewhat affordable for first time home buyers) neighborhoods. Since 1998, the Portland Development Commission (PDC) has invested $90 million in infrastructure, facilities, transportation, affordable housing, and business development. In early 2014, the PDC implemented the Lents Five-Year Action Plan calling for focused investments that would have the greatest benefit and impact on existing residents and businesses. This plan “focuses on creating healthy, complete neighborhoods with vibrant communities and corridors. The goal is to support growth of mixed use, mixed income communities that contribute to improved business and resident satisfaction with the community.”

First time home buyers, David and Anna, wanted to be a part of this growing community. Lents would provide an ideal location giving them easy access to I-205, close proximity to their family in Milwaukie, and ease to downtown via the MAX Lents Town Center/Southeast Foster Road transit station. David and Anna were also greatly concerned with resale value and wanting to provide a solid future for their family. Knowing that Lents is one of PDC’s focused areas, gave them reassurance they were making the best decision for their financial future. In looking at stats for the neighborhood, before the Lents Five-Year Action Plan, the average home sale price was $178,231* (March 2014). In March of 2018 the average sale price for a home in Lents was $293,625* creating an average 16% annual appreciation since the plan was implemented 4 years ago. (In comparison to the average annual appreciation in SE Portland of 12% since 2014). With further implantation of the Lents Five-Year plan, David and Anna will like continue to see double digit appreciation on their investment and future in Lents.

After two months of searching in the competitive, high demand neighborhood of Lents David and Anna finally landed the perfect home for their family to settle and grow. As first time home buyers, it’s easy to be discouraged in today’s competitive Portland real estate market. But, David and Anna stayed positive throughout the entire process. They did not get discouraged when their offers were rejected, rather they got motivated to save more money to make their offer as strong as possible. I am so proud of them for all their efforts in making their dream come true, for staying positive throughout the process, and persevering into their new role as home owners! I am honored to be a part of their journey.

Congratulations to David and Anna on their new home!

*data pulled from RMLS statistics

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