This Week in Real Estate: July 25, 2016

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Housing starts and existing home sales lead the way in news for This Week in Real Estate. Despite affordability concerns the consistently low interest rates help first-time buyers grab a 33% share of existing home sales in June, the best performance by first-time buyers in four years. Below are a few highlights from the third week of July that influence our business:

* Housing Starts Bloom in June. Homebuilding rates accelerated in June, surpassing expert forecasts for the month. According to the Commerce Department, housing starts rose 4.8% from a month earlier to a seasonally adjusted annual rate of 1.189 million in June. However, while both permits and starts improved on a month-to-month basis, the total permits represented a decline of 15% compared to last June, and the total number of starts represented a decline of 1% compared to last year. Single-family permits in June were at a rate of 738,00; this is 1% above the revised May figure. Single-family housing starts in June were at a rate of 778,000; this is 4.4% above the revised May figure. Single-family completions in June were at a rate of 752,000; this is 3.7% above the revised May rate. “June data points on new construction show little change from what we have already observed during the spring and summer, and continues to indicate that builders are starting what they already permitted earlier this year but are not being bullish about demand for this fall and winter. We are continuing to see that new construction is failing to keep up with household formation, so the low vacancies in rentals and the dearth of homes for sale will continue to provide a solid foundation for rising rents and home prices,” said Realtor.com Chief Economist Jonathan Smoke.
Full Story…  http://rismedia.com/2016/07/19/housing-starts-bloom-in-june/?utm_source=newsletter&utm_medium=email&utm_campaign=eNews

* Mortgage Lending on Track For Best Year Since 2013. While a recent report from Fitch Ratings suggested that 2016 could be a rough year for mortgage servicers due to persistently low interest rates, those same interest rates could lead to a banner year for mortgage lenders. The Fitch report suggested that the current low interest rate environment will drive some homeowners to refinance, but another report from Equinox showed that it’s not just refinance applications that are trending up; actual first mortgage originations were up sharply in the first quarter – to a point that 2016 could be the best year for mortgage lending since 2013. According to Equifax’s report, the total dollar amount of first-mortgage originations during the first quarter of the year was $450.5 billion, which represented a year-over-year increase of 12.3%, and the highest amount for a first quarter total since 2013. Additionally, Equifax’s National Consumer Credit Trends Report showed that there were a total of 1.86 million new first mortgages in the first quarter, an increase of 10.3% over the same time period last year.
Full Story…  http://www.housingwire.com/articles/37539-mortgage-lending-on-track-for-best-year-since-2013?eid=322520585&bid=1467805

* Existing-Home Sales Ascend Again in June, First-Time Buyers Provide Spark. Existing home sales, as reported by the National Association of Realtors (NAR), increased 1.1% in June to the highest level since February 2007, as first-time buyers grabbed a 33% share, the best performance in four years. June existing sales are up 3% from the same month a year ago. June existing sales increased in the Midwest and West by 3.8% and 1.7% respectively. Year-over-year, the Northeast, Midwest and South increased 5.6%, 4.7% and 3.2% respectively, while the West decreased slightly.
Full Story…  http://www.realtor.org/news-releases/2016/07/existing-home-sales-ascend-again-in-june-first-time-buyers-provide-spark

* New Single-Family Housing Starts by Divisions. Using the public-use micro data files provided by Census Bureau’s Survey of Construction (SOC), NAHB Economics and Housing Policy group tabulated new single-family housing starts for the nine census divisions. There were more than 100k new single-family units started in 2015 in each of the South Atlantic and West South Central Divisions. The Mountain Division, the largest area among the nine Census divisions, started 85,448 new single-family units in 2015. The shares of new single-family housing starts in these three divisions accounted for 60% of the total new single-family housing starts in 2015. Additionally, there were 76,661 new single-family units started in the Pacific Division and 68,005 units in the East North Central Division. The Pacific Division shared 11% of the total new-single family housing starts in 2015.
Full Story…  http://eyeonhousing.org/2016/07/new-single-family-housing-starts-by-divisions/

Have a productive week!
Jason
 

Portland Metro Weekend Events Planner: July 22-24, 2016

Pure Happiness and Joy
PORTLAND METRO EVENTS WEEKEND PLANNER
FOR JULY 22-24, 2016

DOG SHOW
FRI-SUN – Portland Kennel Club Dog Show has specialty breeds on Friday and all breeds on Saturday and Sunday at Portland Expo Center. Free.

DIVISION/CLINTON STREET FAIR & PARADE
SAT – The Street Fair will take place in pockets throughout the District as well as at great businesses all along Division and Clinton. Parade will start at 10:45am at SE 50th & Division.

ARTSLASH
FRI-SAT – Northwest artists will be showcasing their talents in watercolor, acrylics, photography, oil, jewelry, ceramics, and more in Tualatin.

SIP, EAT & STROLL IN SANDY 
SAT – This family-friendly event will feature over six wineries, nearby breweries, tasty local food, live demonstrations, silent auction, live music and other fun, interactive activities for all ages.

NORTHWEST WORLD REGGAE FESTIVAL IN ALBANY
FRI-SUN  3-day family friendly Reggae festival with two stages; camping available.

JOURNEY TO SPACE
Through July 29 – What does the future hold for humans and space travel? The Exhibition at OMSI will give you a glimpse of the challenges and triumphs of space exploration. Discover what is possible and what awaits in orbit and beyond

FLICKS ON THE BRICKS
Through August 19th – Pioneer Courthouse Square transforms into Portland’s largest outdoor movie theater for the entire community to enjoy!

TOP DOWN: ROOFTOP CINEMA
Through August 25th – Join us atop the Hotel deLuxe’s parking structure at SW 15th and Yamhill for our 12th annual program of cinema under the stars.

CONCERTS IN THE PARK
Through August 28th – Pack a picnic dinner or dine with our vendors, bring a blanket or chairs, and spend time with family and friends at a live outdoor concert performance.

MOVIES IN THE PARK
Through September 10th – Pre-movie entertainment begins at 6:30 PM, including live performances by local musicians and free popcorn. Bring jackets or extra blankets, as it gets chilly when the sun goes down!

OREGON ZOO SUMMER CONCERTS
Through September 11th  Oregon’s “wildest” outdoor concert series celebrates 37 years of bringing you world-class artists for a night of music and nature. It wouldn’t be summer in Oregon without an evening of great music at the zoo!

PORTLAND SATURDAY MARKET
SAT-SUN Through December – The nation’s largest weekly open-air arts and crafts market. Stroll down row upon row of unique creations made by the people who sell them in Old Town.

URBAN SCAVENGER HUNT
ALL MONTH  Smartphone clues lead you on a fun & engaging walking tour of the city. Clues start you in the heart of downtown at Pioneer Courthouse Square and will take you on a scavenger hunt through the Arts District, on a streetcar ride and among the famous food carts.

SHANROCK’S TRIVIOLOGY
ALL MONTH – Various Portland Locations: Triviology pub quizzes are free to play, last a couple of hours, and are composed of seven short rounds, giving teams instant gratification for their efforts. Team size can range from one to five players, with prizes for everyone on the winning team.

VANCOUVER METRO EVENTS

FRIDAY NIGHT MOVIES – COLUMBIA TECH CENTER
Through July 29th – Bring a lawn chair or blanket to the park and enjoy a movie on the big screen at the City of Vancouver’s free, family-friendly movie nights! Show up early for pre-movie activities.

RIVERVIEW SIX TO SUNSET CONCERT SERIES
Thursdays Through August 11th  Celebrate summer on Thursday evenings while listening to our fantastic bands play the sun down.

FARMER’S MARKET – DOWNTOWN
SAT-SUN (through October 30)  Vancouver’s Farmer’s Market. Over 250 vendors with fresh and local produce, flowers, plants, baked goods and much more at 6th & Ester in downtown Vancouver.

FARMERS MARKET – COLUMBIA TECH CENTER
Thursdays Through September 1st – Over 250 vendors with fresh and local produce, flowers, plants, baked goods and much more.

OPEN SATURDAYS AT PEARSON AIRBASE
EVERY SAT  Free educational experience, Flight Simulator lab, vertical wind tunnel, a glider-building station, historic airplanes on-site for viewing, collections on display, and educational programs to propel students of all ages.

NEW MOVIES OUT THIS WEEK

Light’s Out
Ice Age – Collision Course
Absolutely Fabulous
Star Trek Beyond
Hillary’s America

Click here for movie times and theatres.

CLICK HERE TO VIEW THIS WEEK’S OPEN HOUSES

For a monthly online listing of upcoming Portland metro events, click here.


THIS WEEK IN REAL ESTATE: JULY 18, 2016

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How good is the current condition of the economy and real estate market? If that is measured by homeowners remaining in their homes and current with their mortgage payments, than the answer is very strong. RealtyTrac reported This Week in Real Estate that through the first half of the year, more homeowners are avoiding foreclosure than ever before. Below are a few highlights from the second week of July that influence our business:

* Freddie Mac: Brexit to Push Housing Market Forward in 2016. International concerns such as slowing growth in China and the Brexit vote in the U.K. played a major role in driving down mortgage rates in the U.S., according to Freddie Mac’s monthly Outlook for July. In fact, after the U.K.’s vote to leave the European Union, mortgage rates continue to lower, closing the gap even more to all-time lows at 3.41%. “With the U.K.’s decision to exit from the European Union, global risks increased substantially leading us to revise our views for the remainder of 2016 and all of 2017,” Freddie Mac Chief Economist Sean Becketti said. “Nonetheless, the turbulence abroad should continue to create demand for U.S. Treasuries and keep mortgage rates near historic lows,” Becketti said. “Thereby, allowing home sales to have their best year in a decade, along with a boost in refinance activity.” Due to these recent global pressures, Freddie Mac revised the 30-year fixed-rate mortgage forecast down by 30 basis points for 2016 and by 50 basis points for 2017 to 3.6% and 4% respectively. The home price appreciation forecast for 2016 remains at 5% in 2016 and 4% in 2017.

Full Story…  http://www.housingwire.com/articles/37499-freddie-mac-brexit-to-push-housing-market-forward-in-2016?eid=322520585&bid=1460292

* Lots in 2015 are Smallest on Record. The median lot size of a new single-family detached home sold in 2015 dropped under 8,600 square feet for the first time since Census Bureau’s Survey of Construction (SOC) started tracking the series. An acres is 43,560 square feet, so the current median lot size is just under one-fifth of an acre. While nation’s lots are getting smaller on average, the regional differences in lot sizes persist. Looking at single-family (attached and detached) speculatively built (or spec) homes started in 2015, the median lot size in New England exceeds half an acre. This is 2.6 times larger than the national median lot. The East South Central Division comes as a distant second with the median lot occupying less than a third of an acre. The Pacific Division where densities are high and developed land is scarce has the smallest lots, with half of the lots being under 0.15 acres. The neighboring Mountain and West South Central Divisions also report typical lots smaller than a national median, 0.17 and 0.16 acres, respectively.

Full Story…  http://eyeonhousing.org/2016/07/lots-in-2015-are-smallest-on-record/

Foreclosures, Serious Delinquencies Nearing Decade Low. The number of homes in some stage of foreclosure and the number of seriously delinquent mortgages continued to decline in May, falling to the lowest level in nearly nine years, since October 2007, according to CoreLogic. CoreLogic’s May 2016 National Foreclosure Report shows the national foreclosure inventory, which is the total number of homes at some stage of the foreclosure process and completed foreclosures, hovers around 390,000 homes. CoreLogic’s report also showed that in May, the foreclosure inventory declined by 24.5% and completed foreclosures declined by 6.9% compared with May 2015. “Delinquency and foreclosure rates continue to drop as we experience the benefits of a combination of tight underwriting, job and income growth and a steady rise in home prices,” said Anand Nallathambi, President and CEO of CoreLogic.

Full Story…  http://www.corelogic.com/about-us/news/corelogic-reports-38,000-completed-foreclosures-in-may-2016.aspx

RealtyTrac: More Homeowners are Avoiding Foreclosure Than Ever Before. TA new report from RealtyTrac shows that more homeowners are keeping their homes out of foreclosure than ever before. The good news comes courtesy of RealtyTrac’s Midyear 2016 U.S. Foreclosure Market Report, which shows that there were a total of 253,408 properties that started the foreclosure process in the first half of 2016. That’s down 17% from one year ago and the lowest level for any half-year period since RealtyTrac began tracking foreclosure starts in 2006, the company said. And it’s not just foreclosure starts that are on the decline. According to RealtyTrac’s report, there were a total of 94,469 U.S. properties with a foreclosure filing (default notices, scheduled auctions or bank repossessions) in June, which is down 6% from May, down 19% from the same time period a year ago, and the lowest level since July 2006.

Full Story…  http://www.housingwire.com/articles/37521-realtytrac-more-homeowners-are-avoiding-foreclosure-than-ever-before?eid=322520585&bid=1463125

 


Summer Staging Tips: 7 Tips to Enhance Outdoor Spaces

 

Staged homes spend 78% less time on the market. Attract the most buyers in the least time with these 7 summer outdoor staging tips:

Prep the Deck
Visually increase your square footage by emphasizing outdoor living space. Whether your home features a deck, patio, porch or other outdoor living area, take time to power wash the surface to remove any debris. If your outdoor furniture is lacking, consider purchasing a fresh set, complete with all-weather cushions and pillows in vibrant colors.

Mow the Lawn
Whether you hire a professional landscaper or DIY, trim the lawn and any hedges—the latter can be a trip hazard if left untouched.

Roll out the Welcome
It’s no secret—curb appeal matters to buyers, but too often, minor details are overlooked when setting the stage out front. To roll out the welcome for buyers, replace your worn welcome mat with a summery alternative, and install large house numbers in a prominent location that can be viewed from the street.

Wash the Windows
Cleaning windows inside and out can be taxing, but it makes a noticeable difference. For the exterior sides of the windows, scrub off any accumulated film from tree pollen and polish until glistening. Buyers will be pleased to see not only a sparkling home outside, but a light-filled interior as well.

Clean the Pool
Pools can be a make-or-break feature for buyers, so play it up as best you can. After having the pool cleaned by a professional, take care to skim the surface for any debris that accumulates between buyer visits. Be sure the pool cover, mechanized or otherwise, is free of damage and the filtering system is in working order.

reddoorLighten Up
Make sure the outdoor spaces around your home, including the front entrance, deck, patio, and walkways, are appropriately lit. Spotlight your best features and make sure to check the porch light. Updated light fixtures are not only aesthetically pleasing, but are an added safety feature to the home.

Showcase a Spot of Color
In lieu of a costly exterior paint job, choose specific areas outside to add pops of color. Window boxes bursting with blooms are often well-received by buyers, as well as container plantings. If the exterior could use refreshing, consider repainting the front door before recruiting a professional to do the entire home.
Article courtesy of RealEstateBook.com

 

 


Portland Metro Weekend Planner: July 15-17, 2016

Young Woman Wearing Renaissance Dress with Horse Walking in Fiel
PORTLAND METRO EVENTS WEEKEND PLANNER
FOR JULY 15-17, 2016

ROBIN HOOD FESTIVAL
FRI-SAT  Sherwood Robin Hood Festival includes medieval re-enactments, a knighting ceremony, Maid Marian and Robin Hood, archery, castle building, 100 craft and food vendors, a beer and wine garden, a kids’ area, and a parade Saturday at 10AM. Free.

ANTIQUE & COLLECTIBLE SHOW
SAT-SUN  The source of an amazing amount of cool vintage pieces from the 1880s to the 1970s. Exhibitors from 15 states with items in every price range, 1300 + booths filled with everything from jewelry to vintage tools.

SEADOG NIGHTS & GYPSY FESTIVAL
THURS-MON  Experience a weekend of shenanigans, ships, fun, games and fire for grownups (or at least those who are grownup on the outside), kids and everyone in between.

OREGON BERRY FESTIVAL
FRI-SAT  Find all the freshest Oregon berries including everything from Marionberries to Ollalieberries, and the best blueberries and strawberries you will find anywhere. The festival showcases everything berry!

CATHEDRAL PARK JAZZ FESTIVAL
FRI-SUN  As the longest-running FREE Jazz Festival west of the Mississippi River, situated in a natural amphitheater with a backdrop of the beautiful Willamette River to the west, and the mighty St Johns Bridge overhead.

HAREFEST
FRI-SAT  The Northwest’s nostalgic music festival featuring 16 of the region’s best tribute bands, 16 hours of music, delicious food vendors, and onsite camping!

PORTLAND HIGHLAND GAMES
SAT  Bringing out the highland dancers, bagpipe bands, and athletes to Mt Hood Community College to compete. With traditional Scottish foods and activities for the whole family, you’re sure to have a great time.

OREGON ZOO SUMMER CONCERTS
Through September 11th  Oregon’s “wildest” outdoor concert series celebrates 37 years of bringing you world-class artists for a night of music and nature. It wouldn’t be summer in Oregon without an evening of great music at the zoo!

TOP DOWN: ROOFTOP CINEMA
Through August 25th  Join us atop the Hotel deLuxe’s parking structure at SW 15th and Yamhill for our 12th annual program of cinema under the stars.

MOVIES IN THE PARK
Through September 10th   Pre-movie entertainment begins at 6:30 PM, including live performances by local musicians and free popcorn. Bring jackets or extra blankets, as it gets chilly when the sun goes down!

CONCERTS IN THE PARK
Through August 28th   Pack a picnic dinner or dine with our vendors, bring a blanket or chairs, and spend time with family and friends at a live concert performance.

PORTLAND SATURDAY MARKET

SAT-SUN Through DEC  The nation’s largest weekly open-air arts and crafts market. Stroll down row upon row of unique creations made by the people who sell them. Old Town.

DUELING PIANO SHOW

Every FRI & SAT  Since 2010, The Barrel Room lays claim to the longest running dueling piano show in Portland.

URBAN SCAVENGER HUNT

ALL MONTH  Smart phone clues lead you on a fun & engaging walking tour of the city. Clues start you in the heart of downtown at Pioneer Courthouse Square and will take you on a scavenger hunt through the Arts District, on a streetcar ride and among the famous food carts.

GUIDED NATURE HIKES

EVERY DAY  Park guides lead nature hikes to explore the forest, stream ecosystems and natural history of the natural area. Tryon Creek State Park & more

PORTLAND ESCAPE ROOMS

ALL MONTH THURS-SUN  Cedar Hills/Beaverton Locations: Real-life room escape games are a type of physical adventure game in which people are locked in a room with other participants and have to use elements of the room to solve a series of puzzles, find clues, and escape the room within a set time limit. Discount tickets.

HAUNTED PUB TOUR

ALL MONTH  This spine-tingling ghost tour explores Portland’s historic Old Town District, a vibrant area with beautiful 1800’s buildings, cobblestone streets and a wicked past.

SHANROCK’S TRIVIOLOGY

ALL MONTH  Various Portland Locations: Triviology pub quizzes are free to play, last a couple of hours, and are composed of seven short rounds, giving teams instant gratification for their efforts. Team size can range from one to five players, with prizes for everyone on the winning team.

GEEKS WHO DRINK PUB QUIZ

ALL MONTH  Anyone can grab a deck of Trivial Pursuit cards and run a “trivia night.” Geeks Who Drink’s smartass quizmasters run fast-paced, interactive and beer-soaked pub quiz events all over Portland.

VANCOUVER METRO EVENTS

SEAHAWKS 12 TOUR AND STAR WARS OUTDOOR SCREENING
FRI  Join select Seattle Seahawks players, the Sea Gals, Blitz and the Blue Thunder drumline, for pre-movie entertainment at Marshall Park. Bring your blankets and lawn chairs and stay to enjoy Star Wars: The Force Awakens under the stars!

RIVERVIEW SIX TO SUNSET CONCERT SERIES
Thursdays through August 11th  Celebrate summer on Thursday evenings while listening to our fantastic bands play the sun down.

FARMER’S MARKET

SAT-SUN (through OCT 30)  Vancouver’s Farmer’s Market. Over 250 vendors with fresh and local produce, flowers, plants, baked goods and much more!

OPEN SATURDAY AT PEARSON AIRBASE

SAT  Free educational experience, Flight Simulator lab, vertical wind tunnel, a glider-building station, historic airplanes on-site for viewing, collections on display, and educational programs to propel students of all ages.

FRIDAY NIGHT MOVIES—COLUMBIA TECH CENTER
Through July 29th   Bring a lawn chair or blanket to the park and enjoy a movie on the big screen at the City of Vancouver’s free, family-friendly movie nights! Show up early for pre-movie activities.

FARMERS MARKET—COLUMBIA TECH CENTER
Thursdays Through September 1st  Over 250 vendors with fresh and local produce, flowers, plants, baked goods and much more!

NEW MOVIES OUT THIS WEEK

·         Ghostbusters
·         The Infiltrator
·         Café Society
·         Phantom Boy

CLICK HERE TO VIEW THIS WEEK’S OPEN HOUSES

For a monthly online listing of upcoming Portland metro events, click here.


This Week in Real Estate: July 11, 2016

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Jobs and interest rates are two key indicators of any real estate market and both topped the headlines This Week in Real Estate. The number of jobs created in June massively exceeded analyst expectations and refi’s hit an 18-month high due to ultra-low rates. Below are a few highlights from the first week of July that influences our business:

* This Will Be The Best Summer For The Housing Market in a Decade. Following the strongest spring in 10 years, the residential real estate market should continue to see growth throughout the summer despite some growing economic headwinds. Through May, year-to-date home sales are up 6% over last year, which was the best year since 2007, according to the National Association of Realtors and Commerce Department data. Meanwhile, home prices are again up 5 to 6 percent, according to Case-Shiller and other sources. For at least the next 15 years, the two largest generations in history, millennials and baby boomers, will be making critical decisions about where and how they want to live. The economic background may be softening, but it is still positive. Unemployment continues to decline and is approaching full employment. Consumer confidence is managing to stay relatively strong despite election year jitters about the future. The decline in rates from the beginning of the year until now has more than offset the rise in prices. Eventually the combination of higher prices and higher mortgage rates will lead to softening demand across the U.S. However, that is not imminent and now has very little chance of occurring before late fall or winter. And, interestingly, the two factors holding housing back – limited new construction and tight credit – are preventing the factors that normally lead to oversupply and trigger a downward cycle in real estate.
Full Story… http://www.cnbc.com/2016/07/08/this-will-be-the-best-summer-for-the-housing-market-in-a-decade-commentary.html

* U.S. Economy Posts Largest Job Gains in Eight Months in June. U.S. job growth surged in June as manufacturers and other employers boosted hiring. Nonfarm payrolls increased 287,000 jobs last month, the strongest month of hiring since last October, the Labor Department said on Friday. The boost in hiring in June catapulted the S&P 500 right near its record closing high and lifted all major U.S. stock indexes back to where they were before the U.K.’s vote to leave the European Union. The S&P 500 rose 1.5% to close at 2129.90. In intraday trade, it rose as high as 2131.71, climbing above its record closing level of 2130.82, hit on May 21, 2015. In the bond markets, the 10-year Treasury yield settled at a record low of 1.366%.
Full Story… http://www.reuters.com/article/us-usa-economy-payrolls-idUSKCN0ZO1CZ?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29

* The Brexit Impact is Real: Refis Jump to 18-Month High. Brexit’s impact on mortgage applications is in and looks like borrowers cashed in on the ultra-low interest rates. Mortgage applications surged 14.2% from one week earlier, significantly driven by refinance activity, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending July 1. The Refinance Index soared 21% from the previous week to the highest level since January 2015. The refinance share of mortgage activity increased to 61.6% of total applications, the highest level since February 2016. “Interest rates continued to drop last week as markets assessed the impact of Brexit, downgrading the likelihood of additional rate hikes by the Fed, and mortgage rates for 30-year conforming loans dropped to their lowest level in over 3 years,” said Mike Fratantoni, MBA’s Chief Economist.
Full Story… http://www.housingwire.com/articles/37453-the-brexit-impact-is-real-refis-jump-to-18-month-high?eid=322520585&bid=1452343

Have a productive week!
Jason
 

Portland Metro Weekend Events Planner: July 8-10, 2016

Lavender Farm at Nabowla, Tasmania, Australia
PORTLAND METRO EVENTS WEEKEND PLANNER
FOR JULY 8-10, 2016

OREGON LAVENDER FARM TOUR
SAT-SUN  Tour the lavender farms and nurseries to enjoy the beauty and scents of lavender. Enjoy the journey as you travel through Oregon’s pastoral countryside to each destination.

OREGON BACH FESTIVAL
Through July 10th  The internationally-renowned Oregon Bach Festival (OBF) announces its 47th season of world-class concerts and musicians. 2016 promises a summer of familiar favorites, new works, and a reinvigorated love for the Festival’s eponymous composer, Johann Sebastian Bach.

VINTAGE RACING FESTIVAL
THURS-SUN  More than 200 historic sports cars will grace the Portland International Raceway road course during SVRA’s second annual Portland Vintage Racing Festival. Great fun-filled family event!

GEM & BEAD FAIRE
FRI-SUN  One of the largest gem, jewelry & bead shows in the United States. You’ll discover fine jewelry, costume jewelry, precious & semi-precious gemstones, millions of beads, sparkling crystals, gold & silver, tools, jewelry supplies & boxes all under one roof!

TRAFFIC JAM CAR SHOW & SWAP MEET
SAT  Hood River. Come to a museum, a car show, and a swap meet all in one great place.

BASTILLE FESTIVAL
SAT  Fun activities for the whole family, including music, a photo booth, street performers, le marché (the marketplace), French cuisine, and the Spirit of Bastille Costume Contest.

THE BIG FLOAT
SUN  Bring your tube and life jacket for this popular float down the Willamette River. Enjoy the river and inspire positive aspirations for the river’s healthy development (beaches and access), protection, and improvement.

FUELED BY FINE WINE HALF MARATHON
SUN  Lucky runners will have the exclusive opportunity to run a half marathon over some of the many hills that make up Oregon’s world-class wine region.

MOVIES IN THE PARK
Through September 10th   Pre-movie entertainment begins at 6:30 PM, including live performances by local musicians and free popcorn. Bring jackets or extra blankets, as it gets chilly when the sun goes down!

CONCERTS IN THE PARK
Through August 28th   Pack a picnic dinner or dine with our vendors, bring a blanket or chairs, and spend time with family and friends at a live concert performance.

PORTLAND SATURDAY MARKET

SAT-SUN Through DEC  The nation’s largest weekly open-air arts and crafts market. Stroll down row upon row of unique creations made by the people who sell them. Old Town.

DUELING PIANO SHOW

Every FRI & SAT  Since 2010, The Barrel Room lays claim to the longest running dueling piano show in Portland.

URBAN SCAVENGER HUNT

ALL MONTH  Smart phone clues lead you on a fun & engaging walking tour of the city. Clues start you in the heart of downtown at Pioneer Courthouse Square and will take you on a scavenger hunt through the Arts District, on a streetcar ride and among the famous food carts.

GUIDED NATURE HIKES

EVERY DAY  Park guides lead nature hikes to explore the forest, stream ecosystems and natural history of the natural area. Tryon Creek State Park & more

PORTLAND ESCAPE ROOMS

ALL MONTH THURS-SUN  Cedar Hills/Beaverton Locations: Real-life room escape games are a type of physical adventure game in which people are locked in a room with other participants and have to use elements of the room to solve a series of puzzles, find clues, and escape the room within a set time limit. Discount tickets.

HAUNTED PUB TOUR

ALL MONTH  This spine-tingling ghost tour explores Portland’s historic Old Town District, a vibrant area with beautiful 1800’s buildings, cobblestone streets and a wicked past.

SHANROCK’S TRIVIOLOGY

ALL MONTH  Various Portland Locations: Triviology pub quizzes are free to play, last a couple of hours, and are composed of seven short rounds, giving teams instant gratification for their efforts. Team size can range from one to five players, with prizes for everyone on the winning team.

GEEKS WHO DRINK PUB QUIZ

ALL MONTH  Anyone can grab a deck of Trivial Pursuit cards and run a “trivia night.” Geeks Who Drink’s smartass quizmasters run fast-paced, interactive and beer-soaked pub quiz events all over Portland.

VANCOUVER METRO EVENTS

FARMER’S MARKET

SAT-SUN (through OCT 30)  Vancouver’s Farmer’s Market. Over 250 vendors with fresh and local produce, flowers, plants, baked goods and much more!

OPEN SATURDAY AT PEARSON AIRBASE

SAT  Free educational experience, Flight Simulator lab, vertical wind tunnel, a glider-building station, historic airplanes on-site for viewing, collections on display, and educational programs to propel students of all ages.

ART & WINE FAIR
SAT  Enjoy a weekend of local art, music, food and wine at English Estate Winery at the 9th Annual Art & Wine Fair.

TWILIGHT HALF MARATHON, 10K AND 5K
SAT  Beginner and walker friendly marathon. After-party includes live music, free wine and Hopworks beer, an organic Laughing Planet burrito, and maybe even a dip in Vancouver Lake.
 
FRIDAY NIGHT MOVIES—COLUMBIA TECH CENTER
Through July 29th   Bring a lawn chair or blanket to the park and enjoy a movie on the big screen at the City of Vancouver’s free, family-friendly movie nights! Show up early for pre-movie activities.

FARMERS MARKET—COLUMBIA TECH CENTER
Thursdays Through September 1st  Over 250 vendors with fresh and local produce, flowers, plants, baked goods and much more!

NEW MOVIES OUT THIS WEEK

·         The Secret Life of Pets
·         Cell
·         Capitan Fantastic
·         Escape From New York
·         Fathers and Daughters
·         The Dog Lover
·         Zero Days

CLICK HERE TO VIEW THIS WEEK’S OPEN HOUSES

For a monthly online listing of upcoming Portland metro events, click here.


This Week in Real Estate: July 5, 2016

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Very favorable news This Week in Real Estate with respect to consumer confidence, mortgage interest rates and the Pacific Northwest’s continued strong appreciation of home prices. Below are a few highlights from the last week of June that influences our business:

* Case-Shiller: Home Prices Reach New Highs in Key Housing Markets. Home prices continue to increase nationwide, even hitting new highs in several large housing markets in April, according to S&P/Case-Shiller Home Prices Indices released this week. Home prices increased 5% in April, down from an increase of 5.1% the month before. The market with the highest annual gain among the 20 cities was Portland, Oregon with an increase of 12.3%. Seattle, Washington came in second with an increase of 10.7%, followed by Denver, Colorado with an increase of 9.5%. “The housing sector continues to turn in a strong price performance with the S&P/Case-Shiller National Index rising at a 5% or greater annual rate for six consecutive months,” said David Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices. “The home price increases reflect the low unemployment rate, low mortgage interest rates, and consumers’ generally positive outlook,” Blitzer said.
Full Story…  http://www.housingwire.com/articles/37384-case-shiller-home-prices-reach-new-highs-in-key-housing-markets?eid=322520585&bid=1446406

* Consumer Confidence Rose in June. After two consecutive months of decline, the Consumer Confidence Index, reported by the Conference Board, rose in June. The Consumer Confidence Index rose to 98 in June, from 92.4 in May. Both the present situation index and the expectations index increased. The present situation index rose to 118.3 in June, from 113.2 in May, and the expectations index rose to 84.5, from 78.5 in May. The trends in the shares of respondents planning to buy a new home and the shares of respondents planning to buy a lived-in home within six months are steadily upward since the recession.
Full Story…  http://eyeonhousing.org/2016/06/consumer-confidence-rose-in-june/

* 6-Day Winning Streak Leaves Rates Near All-Time Lows. Mortgage rates fell moderately Friday, adding a 6th day to a winning streak that began with last week’s Brexit news and bringing rates right to the brink of all-time lows. Mortgage rate movement can be measured in large and small chunks. The large chunks would be the changes in the actual interest rates being quoted and the small chunks would be the changes in the points associated with any given rate. “Points” have a historically negative connotation to some, but they’re very objective, simply referring to the upfront costs or credit on a rate quote. The actual “rate” piece of the equation has moved down 0.25% in some cases, bringing some lenders from 3.625% to 3.375%, which is now the most prevalently-quoted conventional 30-year fixed rate on top tier scenarios. Why is 3.375% important? Simply put, the next time rates move a notch lower, they’ll be back to official all-time lows. In fact, 3.375% is the lowest rate that markets were able to maintain for more than a day or two back in 2012.
Full Story…  http://www.mortgagenewsdaily.com/consumer_rates/632348.aspx

Have a productive week!
Jason
 

Portland Metro Weekend Event Planner: July 1-4, 2016

Independence day. Liberty enlightening the world
PORTLAND METRO EVENTS WEEKEND PLANNER
FOR JULY 1-4, 2016

FIREWORKS

MON JULY 4

WATERFRONT BLUES FESTIVAL
FRI-MON 
Fun-filled event at Tom McCall Waterfront Park. Four stages with over 60 performers and a fireworks finale to end the festival. 
 
OAKS PARK 4TH OF JULY
MON  Join us for first-come, first-served access to all of our picnic areas, extended ride and roller skating hours, and the city’s best fireworks display.
 
ST PAUL RODEO
FRI-MON  This celebration includes the roughest, toughest contests between men and animals and challenges the grit of cowboys and cowgirls.

OREGON ZOO CONCERTS

SAT  Neko Case/KD Lang/Laura Veirs

SUN  Lyle Lovett


SAUVIE ISLAND RUN
MON  Foot Traffic full marathon, half marathon, 8K & 5K runs through the beautiful Sauvie Island countryside.
 
PORTLAND CRAFT BEER FESTIVAL
FRI-SUN  Only beers, plus ciders and wine, crafted within the city limits of Portland are featured at the Portland Craft Beer Festival. 
 
SCIENCE FICTION CONVENTION
FRI-MON  Westercon features speaker panels, demonstrations, costume contests, vendors and an art show.

OREGON BACH FESTIVAL
Through July 10th  The internationally-renowned Oregon Bach Festival (OBF) announces its 47th season of world-class concerts and musicians. 2016 promises a summer of familiar favorites, new works, and a reinvigorated love for the Festival’s eponymous composer, Johann Sebastian Bach.

PORTLAND SATURDAY MARKET

SAT-SUN Through DEC  The nation’s largest weekly open-air arts and crafts market. Stroll down row upon row of unique creations made by the people who sell them. Old Town.

DUELING PIANO SHOW

Every FRI & SAT  Since 2010, The Barrel Room lays claim to the longest running dueling piano show in Portland.

URBAN SCAVENGER HUNT

ALL MONTH  Smart phone clues lead you on a fun & engaging walking tour of the city. Clues start you in the heart of downtown at Pioneer Courthouse Square and will take you on a scavenger hunt through the Arts District, on a streetcar ride and among the famous food carts.

GUIDED NATURE HIKES

EVERY DAY  Park guides lead nature hikes to explore the forest, stream ecosystems and natural history of the natural area. Tryon Creek State Park & more

PORTLAND ESCAPE ROOMS

ALL MONTH THURS-SUN  Cedar Hills/Beaverton Locations: Real-life room escape games are a type of physical adventure game in which people are locked in a room with other participants and have to use elements of the room to solve a series of puzzles, find clues, and escape the room within a set time limit. Discount tickets.

HAUNTED PUB TOUR

ALL MONTH  This spine-tingling ghost tour explores Portland’s historic Old Town District, a vibrant area with beautiful 1800’s buildings, cobblestone streets and a wicked past.

SHANROCK’S TRIVIOLOGY

ALL MONTH  Various Portland Locations: Triviology pub quizzes are free to play, last a couple of hours, and are composed of seven short rounds, giving teams instant gratification for their efforts. Team size can range from one to five players, with prizes for everyone on the winning team.

GEEKS WHO DRINK PUB QUIZ

ALL MONTH  Anyone can grab a deck of Trivial Pursuit cards and run a “trivia night.” Geeks Who Drink’s smartass quizmasters run fast-paced, interactive and beer-soaked pub quiz events all over Portland.

VANCOUVER METRO EVENTS

VANCOUVER RODEO
FRI-MON  Events and entertainment include bronco riding, mutton bustin’, bull riding, steer wrestling, barrel racing, rodeo clowns, a beer garden and a children’s petting zoo.

INDEPENDENCE DAY AT FORT VANCOUVER
MON  Spend the day kicking back on the lush lawns of the Fort Vancouver National Site, enjoy traditional family fun games and entertainment all day ending with a state of the art fireworks display.

FARMER’S MARKET

SAT-SUN (through OCT 30)  Vancouver’s Farmer’s Market. Over 250 vendors with fresh and local produce, flowers, plants, baked goods and much more!

OPEN SATURDAY AT PEARSON AIRBASE

SAT  Free educational experience, Flight Simulator lab, vertical wind tunnel, a glider-building station, historic airplanes on-site for viewing, collections on display, and educational programs to propel students of all ages.

NEW MOVIES OUT THIS WEEK

·         The BFG
·         The Legend of Tarzan
·         The Purge: Election Year
·         The Innocents
·         Our Kind of Traitor
·         The Daughter
·         The Duel

CLICK HERE TO VIEW THIS WEEK’S OPEN HOUSES

For a monthly online listing of upcoming Portland metro events, click here.


What’s Your Home Worth? Get an instant estimate!

 

Are you curious about the value of your home if you listed it for sale today? Want to know the sales price of homes in your neighborhood? At Berkshire Hathaway HomeServices Northwest Real Estate, we have a great resource for you.

Our website has a home valuation tool that allows you to instantly see the estimated value of your home from Zillow plus two leading real estate industry data modeling systems. To take into account any unique features or recent updates, you may fine-tune the property features for a more accurate estimate. When you’re ready for a more in-depth estimate, one of our agents would be happy to prepare a comparative market analysis (CMA) to review neighborhood trends, current and past sales and factor in the overall condition of your home.

Please visit www.bhhsnw.com and take advantage of this powerful resource to help you keep tabs on the value of your investment!

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