As owner and president of Commercial Property Resources, a real estate management firm based in Salem, Oregon, Paul Kerley leads the administration of approximately 1,000 residential units throughout the state. Paul Kerley founded the company in 1983, and has since owned and managed as much as $70 million in residential real estate in Salem, Cottage Grove, Hillsboro, Eugene, and various other Oregon communities.
In 2007, Mr. Kerley and his firm helped to rejuvenate a neighborhood in Albany. He purchased the property, an aging housing complex originally known as Valley Pointe Apartments, in May 2007, immediately changing its name to Albany Meadows. This initiated an extensive renovation project that completely transformed the once-rundown community. Originally built in the 1970s, the complex’s one-story buildings received approximately $1.5 million in renovations, including several improvements aimed at increasing energy efficiency. These upgrades included new insulation, sliding patio doors, and double-pane windows, as well as new roof vents and bathroom ventilation fans. Commercial Property Resources also installed 100 new stoves and refrigerators, as well as updated washing machines and dryers.
Mr. Kerley’s improvements were also directed toward increasing resident safety and quality of life. In addition to adding solar heating to the community pool and building additional community laundry facilities, he hired a full-time security guard and implemented a video security system. The renovation project also included the installation of automatic lights on patios and throughout the parking lot. These improvements led to a noticeable increase in the security of the complex, with Albany police reporting a sharp decline in resident service calls following the renovation.
Thursday, May 14, 2015
Tuesday, February 17, 2015
Economic Outlook for Oregon in 2015 Is Mixed
Paul Kerley maintains a significant presence in Salem, Oregon's
real estate market as the owner of Commercial Property Resources, Inc.
Paul Kerley has experience in owning and managing commercial and
residential properties, and his holdings range from condominiums to
single-family homes in a somewhat improving economy for Oregon.
Oregon's improvements in the labor market have exceeded those of the United States as a whole, but still lag behind the performance of average states before the Great Recession. The unemployment rate for 2014 has actually grown; however, mitigating this concern is strong growth in the number of workers entering the job market. This dynamic of job seekers pushing up the unemployment rate is not unexpected; by this measure Oregon is expected to reach national pre-recessionary standards in 2015.
The state's housing data also looks promising. Oregon's population is growing, which increases the number of new households formed. Many of these new householders had been living with parents, with fewer young adults living at home in 2014.
These young people are mostly renters rather than owners. Oregon's rental numbers have jumped, largely as a result of student loan debts and fewer assets. As a result, demand for housing has gone up. This expansion is predicted to occur in multi-family housing as millennials graduate from college.
Home buying is most prevalent in the 25 to 35 cohort. Even though the weakened economy has driven up the traditional buying age, the overall trend of housing purchasing should continue in the years ahead.
Oregon's improvements in the labor market have exceeded those of the United States as a whole, but still lag behind the performance of average states before the Great Recession. The unemployment rate for 2014 has actually grown; however, mitigating this concern is strong growth in the number of workers entering the job market. This dynamic of job seekers pushing up the unemployment rate is not unexpected; by this measure Oregon is expected to reach national pre-recessionary standards in 2015.
The state's housing data also looks promising. Oregon's population is growing, which increases the number of new households formed. Many of these new householders had been living with parents, with fewer young adults living at home in 2014.
These young people are mostly renters rather than owners. Oregon's rental numbers have jumped, largely as a result of student loan debts and fewer assets. As a result, demand for housing has gone up. This expansion is predicted to occur in multi-family housing as millennials graduate from college.
Home buying is most prevalent in the 25 to 35 cohort. Even though the weakened economy has driven up the traditional buying age, the overall trend of housing purchasing should continue in the years ahead.
Tuesday, January 6, 2015
Salem, Oregon - The Cherry City
An attorney who left the practice of law to devote himself full-time to the management of his growing portfolio of real estate investments, Paul Kerley owns and manages about a thousand residential units in and around the city of Salem, Oregon. A former licensed real estate broker, he has brokered hundreds of significant transactions, including one involving six power shopping centers with an aggregate value of $34 million. Paul Kerley owns a property management real estate firm, Commercial Property Resources, Inc. in Salem.
Nicknamed the Cherry City for its former prominence in the regional cherry-growing industry, Salem is the capital of Oregon and the seat of Marion County. Situated in the state’s northwest corner, it is home to about 160,000 people and ranks as the state’s third most populous city, after Portland and Eugene.
Because it is the state capital, government is the primary employer, followed by education and healthcare facilities. The city also serves as a major transportation hub for agricultural products, providing a convenient gateway to Interstate Route 5, which leads to Portland, just an hour west.
Founded in the Willamette Valley on the banks of the Willamette River in 1841, the city boasts four distinct National Register Historic Districts and a wide range of cultural opportunities, including the Mission Mill Museum, the Hallie Ford Museum of Art, the Elsinore Theater, and the Salem Chamber Orchestra, among many others. In addition, Salem offers a broad range of dining choices, including traditional restaurants featuring cuisines from around the world, franchise restaurants, coffee shops, and bistros. Visitors and residents alike can always enjoy the variety of sports and recreational opportunities available in Salem, including golf, water sports, and fishing.
Nicknamed the Cherry City for its former prominence in the regional cherry-growing industry, Salem is the capital of Oregon and the seat of Marion County. Situated in the state’s northwest corner, it is home to about 160,000 people and ranks as the state’s third most populous city, after Portland and Eugene.
Because it is the state capital, government is the primary employer, followed by education and healthcare facilities. The city also serves as a major transportation hub for agricultural products, providing a convenient gateway to Interstate Route 5, which leads to Portland, just an hour west.
Founded in the Willamette Valley on the banks of the Willamette River in 1841, the city boasts four distinct National Register Historic Districts and a wide range of cultural opportunities, including the Mission Mill Museum, the Hallie Ford Museum of Art, the Elsinore Theater, and the Salem Chamber Orchestra, among many others. In addition, Salem offers a broad range of dining choices, including traditional restaurants featuring cuisines from around the world, franchise restaurants, coffee shops, and bistros. Visitors and residents alike can always enjoy the variety of sports and recreational opportunities available in Salem, including golf, water sports, and fishing.
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