Portland Condos – Update on Condo litigations with positive outcomes
Portland Condos update on the lawsuits with some of our condo buildings here in Portland Oregon. The Elizabeth Lofts in the Pearl District have settled with The Edge Lofts and The Avenue Lofts in the Pearl District and The Benson Tower Condos downtown expected to also settle this year.
Portland condo owners at the Elizabeth Lofts in the Pearl District settled their lawsuit the first part of the year with a plumbing supplier, Victaulic Co. Lawsuits filed by condo owners at the Avenue Lofts, the Benson Tower Condos and The Edge Lofts are progressing in federal courts with hopes of being settled soon.
The litigation has affected prices in these Portland Condos building as most of the closed sales in the past year have been cash only. This has been a trend for the last year but with the litigation’s being settled and or on the way to being resolved it has become much easier for buyers to obtain financing for these Portland condos. We have even seen more buyers hoping to obtain a good deal while the lawsuits are pending which have actually created multiple offer situations thus increases the sales prices.
The litigation’s we have seen over the years with condos here in Portland and many parts of the country have been a challenge but we have moved through them maintaining a strong market for our condo market here in Portland. The advantages of living in an urban environment especially here in Portland Oregon is so wonderful with all our beautiful condominium buildings, parks, shopping, dining, art and theaters just name a few amenities have drawn many to our beautiful city, Portland Oregon. For a complete search of Portland Condos click here.Becky Scharf