Homeless camps having impact on property values

Civic Affairs
portland-tribune-homeless_1515715321593.jpg

PORTLAND, Ore. (KOIN) — Steve Weaser has a different view out his kitchen windown than the one he had when he bought his home in Southeast Portland 6 years ago.  Homeless camps.

“They’re not camping. They are living there longterm,” Weaser told KOIN 6 News. “The debris, the bike parts and frames are accumulating over time.”

Southeast Portland homeowner Steve Weaser, January 11, 2018 (KOIN)

He said he’s called city agencies, but the campers keep arriving along with the tents and garbage.

“I’m worried about the disparity,” Weaser said. “The city tolerates homeless camps out here. They’re reported and allowed to stay and in other neighborhoods they’re not.”

He wonders what will happen when he puts the house on the market.

“As a homeowner looking at selling myself in the next couple of years, I wonder if the presence of a homeless camp would keep it from being sold or if real estate agents think it would lower the value,” he said.

Portland realtor Diana McCredie, January 11, 2018 (KOIN)

Realtor Diana McCredie said that is happening.

She said when she went outside Thursday morning, the portable toilet her landscaper just dropped off was a mess and she found a pile of trash and drug debris inside.

“It may not even sell and if it does, the value may be affected by tens of thousands,” McCredie told KOIN 6 News.

McCredie advised sellers to hold off and call the city or state to move out illegal tents. “If it stays,” she said, “they’re going to have to look at, who knows, 5, 10, 15% adjustment off the market value.”

Even if a homeless camp is gone when you go to sell your house, it could affect the price, she said.

“That sets a benchmark for a comparable (price) now,” McCredie said. “Appraisers and other real estate agents don’t know that a homeless camp was there, but we’re using that price to establish a value on their house.”

None of that is good news for potential sellers like Steve Weaser.

“I feel frustrated,” he said. “I think this is a place relegated for containment until they figure out what to do about it.”

Copyright 2022 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Twitter News Widget

Trending Stories

Virus Outbreak Navy Ship
February 01 2022 03:20 pm