This Week in Real Estate: July 24, 2017

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The National Association of Realtors released a report This Week in Real Estate that concluded the investment in U.S. real estate by foreign buyers reached a record high of $153 billion in sales volume for the 12-month period between April 2016 and March 2017. Below are a few highlights from the third full week of July that influence our business:

* Single-Family Starts Bounce Back in June. Total housing starts bounced back in June after a weak May. Total starts increased 8.3% to a 1.215 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. Single-family starts moved forward, increasing to an 849,000 annual rate in June. Single-family starts are up 8% year-to-date compared to 2016 as limited existing inventory and solid builder confidence make for positive market conditions for additional building. Single-family permits were up 4% in June. On a year-to-date basis, single-family permits are almost 11% higher compared to this time in 2016. Multifamily starts also increased in June, after five consecutive months of decline. Multifamily starts were up 13% in June, but are down 5% on a year-to-date basis. This matches our forecast expecting a small decline in multifamily construction in 2017. With respect to housing’s economic impact, 57% of homes under construction in June were multi-family (610,000). There were 460,000 single-family units under construction, a gain of 7% from this time in 2016.
Full Story… http://eyeonhousing.org/2017/07/single-family-starts-bounce-back-in-june/

* Foreign Investment in U.S. Real Estate Surges 49% to Record $153 Billion in Sales Volume. Foreign investment in the U.S. housing market saw an explosion of growth from last year as it surged to an all-new high. This increase was fueled by an increase in sales dollar volume from Canadian buyers, but transactions grew in all five of the top countries, according to the 2017 Profile of International Activity in U.S. Residential Real Estate report from the National Association of Realtors. Nearly half of all foreign sales were in three states: Florida, California and Texas. Between April 2016 and March 2017, foreign buyers and recent immigrants purchased $153 billion of residential property, which is a 49% jump from 2016 ($102.6 billion) and surpasses 2015 ($103.9 billion) as the new survey high. Overall, 284,455 U.S. properties were bought by foreign buyers (up 32% from 2016), and purchases accounted for 10% of the dollar volume of existing-home sales (8% in 2016). Although China maintained its top position in sales dollar volume for the fourth straight year, the significant rise in foreign investment in the survey came from a massive hike in activity from Canadian buyers. After dipping in the 2016 survey to $8.9 billion in sales ($11.2 billion in 2015), transactions from Canadians this year totaled $19 billion – a new high for Canada. Buyers from China exceeded all countries by dollar volume of sales at $31.7 billion. Chinese buyers also purchased the most housing units for the third consecutive year (40,572 units). Rounding out the top five, the sales dollar volume from buyers in Canada ($19 billion), the United Kingdom ($9.5 billion), Mexico ($9.3 billion) and India ($7.8 billion) all increased from their levels one year ago.
Full Story… https://www.nar.realtor/news-releases/2017/07/foreign-us-home-sales-dollar-volume-surges-49-percent-to-record-153-billion

* Credit Availability Hits Highest Level Since 2016. Credit availability remained historically tight in the first quarter of 2017, but increased slightly from the previous quarter to the highest level since 2016. The credit availability index from Housing Finance Policy Center shows mortgage credit availability increased 5.4 in the first quarter. This is up from 5.2 in the fourth quarter. The HCAI measures the percentage of home purchase loans that are likely to default, go unpaid for more than 90 days past their due date. A lower HCAI indicates that lenders are unwilling to tolerate defaults and are imposing tighter lending standards, making it harder to get a loan. A higher HCAI indicates that lender are willing to tolerate defaults and are taking more risks, making it easier to get a loan. Credit availability at Fannie Mae and Freddie Mac remains at the highest level since its low in 2011. Earlier this summer, Fannie Mae raised its debt-to-income ratio requirement to further expand mortgage lending. The Urban Institute pointed out there is still plenty of space to expand the credit box. If the current default risk doubled across all channels, risk would remain within the standard 12.5% seen in the 2001 to 2003 mortgage market.
Full Story… https://www.housingwire.com/articles/40689-credit-availability-hits-highest-level-since-2016?eid=322520585&bid=1812874

Have a productive week!

Jason


Portland Metro Weekend Events Planner: July 21-23, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
FOR JULY 21-23, 2017

SEADOG NIGHTS & GYPSY CARNIVAL
THUR-MON – Spend a weekend living like a pirate, dressed up in your Pirate or Gypsy best, camping with a whole city of others like you.  Enjoy games, contests, kids activities, parties, performances, workshops and vendors the way you think Pirates or Gypsies might!

SLAVIC FESTIVAL
SAT-SUN – Enjoy art, music, dance, food, kids activities and vendors from Armenia, Russia, Serbia & the Ukraine at this fun Slavic festival.

PUCKERFEST
THUR-MON – Check out 50 sour, wild and funky beers at Belmont Station.

PORTLAND WORLD REFUGEE DAY
SAT – A day celebrated around the world to honor the strength and resilience of refugees. Fashion shows, international dances and performances, soccer & much more.

DIVISION/CLINTON STREET FAIR & PARADE
SAT – This SE Portland Street Fair will take place in and around SE 26th and Clinton Streets. The parade will begin at 10:45 am.

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

FIRST CITY CELEBRATION
SAT – Live music all day, arts and crafts, kid zone, wine vendors, beer gardens and much more in downtown Oregon City.

BEAVERTON NIGHT MARKET
SAT – Check out the vibrant, intercultural, family-friendly space that is reminiscent of night markets internationally.

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

MOVIES IN THE PARK
Through September 8 – Evening after evening, summer nights in Portland parks offer families and friends the perfect backdrop to renew connections. 12 week schedule with 41 movies at 40 sites around the city.

CHAMBER MUSIC NORTHWEST SUMMER FESTIVAL
Through July 30 – Enjoy extraordinary music throughout the month at various locations. Check the schedule for times and locations and see which shows are free.

80’S VIDEO DANCE ATTACK
Through August 26 – Grab your favorite 80’s outfit and head to Lola’s Room. Enjoy your favorite 80’s hits playing all night on their multiple giant screens.

DUELING PIANO SHOW
FRI & SAT (All Month)The Barrel Room lays claim to the longest running dueling piano shows in Portland. The show, which at times can get a “little cheeky,” isn’t just two players banging on pianos for five hours. They boast a Vegas style, request driven, interactive show complete with bits, games, sing-a-longs, comedy and some of the best players in the U.S.

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.

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.

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.

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.

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.

 

VANCOUVER METRO EVENTS

 

CIVIL WAR REENACTMENT at FORT VANCOUVER
SAT – Volunteers from the 1st Oregon Volunteer Infantry, a local living history group, will set up a Civil War era encampment on the Vancouver Barracks Parade Ground. Learn about military life during the 1860s and watch black powder musket demonstrations.

CAMAS DAYS
FRI-SAT – Expect to see arts & craft vendors, gated wine microbrew street, and food streets, concerts in the park, two parades, the ducky derby, the kids activities street, a softball tournament and the famous bathtub races in front of City Hall. Join the fun in Camas!

RIVERVIEW SIX TO SUNSET CONCERTS
Thursdays through August 10 – Celebrate summer Thursday evenings while listening to our fantastic bands play the sun down. Bring your family and friends down to Esther Short Park, put down a picnic blanket and some lawn chairs and enjoy.

FRIDAY NIGHT MOVIES IN THE PARK
Fridays Through August 11 – Bring your blankets and lawn chairs and enjoy big screen entertainment. All movies are family friendly.

RUSTY GRAPE: MOVIES ON THE LAWN
Fridays Through September 1 – Visit the Rusty Grape Vineyard Friday evenings for a family friendly movie night. Bring your chair or blanket and enjoy the beautiful summer night.

HEISEN HOUSE: SUMMER CONCERT SERIES
Through September 29 – Enjoy summer concerts among the vines every Friday night at Heisen House Vineyards.

GUIDED WALKS AT COLUMBIA SPRINGS
Through October 18 – Each guided walk consists of an easy stroll or tour with themes such as plants, animals, geology, local history, and the fish hatchery. These events are appropriate for all ages and no registration is required. Spots are available at a first come, first served basis to the first 30 visitors.

VANCOUVER FARMER’S MARKET
SAT through Oct 29 – You’ll discover fresh and local produce, flowers, plants, baked goods, delicious food, pet treats, and accessories for yourself, home, or garden.

COLUMBIA TECH CENTER FARMER’S MARKET
Through August 31 – A pet-friendly place where you can chat with people who have grown or made your purchase, grab a bite to eat, watch the kids play, and enjoy a wonderful, relaxing day.

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

  • First Kill
  • Dunkirk
  • Girls Trip
  • Valerian and the City of a Thousand Planets
  • The Untamed
  • Landline
  • Scales: Mermaids are Real
  • Amnesia
  • Killing Ground

Click here for movie times and theaters.

CLICK HERE TO VIEW THIS WEEK’S OPEN HOUSES

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


8 Top Real Estate Mistakes

 

Get insider secrets to avoid costly blunders on the most important investment of your life.

SELLERS:

Failing to Showcase your Home
When you are selling your house, you have to look at it objectively from the viewpoint of the house hunter. Make minor enhancements to the house, perhaps hiring a professional stager to arrange your furniture. Staging is about decorating your house for the buyers’ taste, not yours. Home staging is designed to increase the potential selling price and reduce the amount of time the house stays on the market.

Setting a High Listing Price
To price your home, your agent will suggest a figure that is comparable to what the homes in your neighborhood have sold for, unless you have upgraded features. It’s always better to price a home this way rather than start too high and have to reduce. Once you reduce, people may think something is wrong with the home.

Doing Major Renovations Before Selling
Minor upgrades usually have a higher return on your money than tackling major renovations before placing a home on the market. The main reason? Huge construction projects always cost more than you think and take longer than expected.

Not Hiring an Agent
There’s a lot more to selling a house than just putting a sign on the front lawn. If you don’t have an agent, you will miss out on somebody negotiating on your behalf. It is really important to have someone on your side who understands all the complexities, paperwork, and legalities.

BUYERS

Buying What You Want–Not What You Need
Look at the space you already live in. It will help you realize what you have been missing and what you need in your next home. Make a list and ask your agent to start shopping based on those needs.

Overlooking Hidden Costs
Buying a home is not just about the money you spend up front. Find out what the property taxes are, what your water and other utilities might cost, possible HOA fees, insurance, and if you need to factor in furnishings or renovation costs.

Buying a Home Without an Inspection
A professional home inspection can reveal many things about a property that are not visible to the naked eye. Be sure to hire someone who comes with a good referral, who’s been in the business a while and knows what to look for. Once you find an inspector, make sure they compile a written report, complete with photos. Photographs are important because there are areas a home inspector will look at that you might not see.

Skipping the Loan Pre-Approval Process
When you are pre-approved, the bank is saying, “we will give you a mortgage of up to this amount, so now all you have to do is find your home.” Some sellers only allow real estate agents to show their house if someone has a pre-approved letter. That indicates that the shopper really is serious about buying a home.

Article courtesy of HGTV.com


Portland Metro Weekend Events Planner: July 14-16, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
FOR JULY 14-16, 2017

FLOAT DOWN THE RIVER
SAT – Jump in the Willamette River with a life jacket and inner tube for the The Big Float. Float downstream to a beach party with a music barge, food carts, and beer garden.

AMERICA’S LARGEST ANTIQUE & COLLECTIBLE SHOW
SAT-SUN – 400 booths outside plus 900 booths inside a the Portland Expo Center. The range of diversity makes sure there is something for everyone.

BASTILLE DAY FESTIVAL
SAT – The West Coast’s largest Bastille Day celebration, free and open to the public. Enjoy French food, live music, vendors & more.

ROBIN HOOD FESTIVAL
FRI-SAT – One of the oldest and most unique community events in Oregon. Many fun activities both modern and medieval, international archery tournament & much more! http://www.robinhoodfestival.org/

CATHEDRAL PARK JAZZ FESTIVAL
FRI-SUN – Enjoy a free concert situated in a natural amphitheater with a backdrop of the beautiful Willamette River. Bring a blanket and a picnic and have a relaxing evening.

LA RUTA PDX
THURS-SUN – Celebrating the culinary culture of Spain in in one of the most innovative cities in the United States. Events throughout the festival will showcase Spanish products, purveyors, and specialty equipment to encourage collaboration and mutual enrichment between the two gastronomic cultures.

PORTLAND HIGHLAND GAMES
SAT – A unique Scottish experience featuring incredible Scottish pipe bands, bag pipers and drummers, dancers and athletes.

FOREST GROVE CONCOURS D’ELEGANCE
SUN – Enjoy more than 300 classic cars on the tree-shaded campus of Pacific University. Enjoy live music, food, a beer garden, and a wine pavilion.

GRESHAM ARTS FESTIVAL
FRI-SAT – Take a stroll downtown, enjoy a glass of wine, and peruse a silent auction benefiting Gresham Outdoor Public Art.

TONY STARLIGHT SHOWROOM
SAT – An ever-evolving hybrid of song parody, musical impressions and various tributes to iconic artists and pop culture phenomena.

MOVIES IN THE PARK
Through September 8 – Evening after evening, summer nights in Portland parks offer families and friends the perfect backdrop to renew connections. 12 week schedule with 41 movies at 40 sites around the city.

CHAMBER MUSIC NORTHWEST SUMMER FESTIVAL
Through July 30 – Enjoy extraordinary music throughout the month at various locations. Check the schedule for times and locations and see which shows are free.

80’S VIDEO DANCE ATTACK
Through August 26 – Grab your favorite 80’s outfit and head to Lola’s Room. Enjoy your favorite 80’s hits playing all night on their multiple giant screens.

OREGON BACH FESTIVAL
Through SATOregon Bach Festival celebrates the music and legacy of classical composer Johann Sebastian Bach.

DUELING PIANO SHOW
FRI & SAT (All Month)The Barrel Room lays claim to the longest running dueling piano shows in Portland. The show, which at times can get a “little cheeky,” isn’t just two players banging on pianos for five hours. They boast a Vegas style, request driven, interactive show complete with bits, games, sing-a-longs, comedy and some of the best players in the U.S.

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.

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.

PORTLAND ESCAPE ROOMS
All Month THURS-SUNCedar 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.

VANCOUVER METRO EVENTS

HARVEST NIGHTS CAR CRUISE, PARADE & FESTIVAL
FRI-SAT – More than 400 classic and custom cars. Enjoy carnival rides, the Fred Meyer Grand Parade with more than 90 entries, an Xtreme Amateur Sports Competition, musical talent show, and local wine, beer, and spirits.

FIRE IN THE PARK
SAT – A day of fun with a firefighter challenge, pipe and drum band, kids events and a variety of safety and awareness programs.

RIVERVIEW SIX TO SUNSET CONCERTS
Thursdays through August 10 – Celebrate summer Thursday evenings while listening to our fantastic bands play the sun down. Bring your family and friends down to Esther Short Park, put down a picnic blanket and some lawn chairs and enjoy.

FRIDAY NIGHT MOVIES IN THE PARK
Fridays Through August 11 – Bring your blankets and lawn chairs and enjoy big screen entertainment. All movies are family friendly.

RUSTY GRAPE: MOVIES ON THE LAWN
Fridays Through September 1 – Visit the Rusty Grape Vineyard Friday evenings for a family friendly movie night. Bring your chair or blanket and enjoy the beautiful summer night.

HEISEN HOUSE: SUMMER CONCERT SERIES
Through September 29 – Enjoy summer concerts among the vines every Friday night at Heisen House Vineyards.

GUIDED WALKS AT COLUMBIA SPRINGS
Through October 18 – Each guided walk consists of an easy stroll or tour with themes such as plants, animals, geology, local history, and the fish hatchery. These events are appropriate for all ages and no registration is required. Spots are available at a first come, first served basis to the first 30 visitors.

VANCOUVER FARMER’S MARKET
SAT through Oct 29 – You’ll discover fresh and local produce, flowers, plants, baked goods, delicious food, pet treats, and accessories for yourself, home, or garden.

COLUMBIA TECH CENTER FARMER’S MARKET
Through August 31 – A pet-friendly place where you can chat with people who have grown or made your purchase, grab a bite to eat, watch the kids play, and enjoy a wonderful, relaxing day.

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

· War for the Planet of the Apes
· Wish Upon
· The Big Stick
· Belief: The Possession of Janet Moses
· Project Itoh: Genocidal Organ
· Blind
· Battle Scars
· Lady Macbeth
· Man Underground

Click here for movie times and theaters.

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, 2017

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A much stronger than expected June job growth report coupled with continued strong price appreciation results in a record high for Fannie Mae’s National Housing Survey as released This Week in Real Estate. Below are a few highlights from the first week of July that influence our business:

 

* Housing Sentiment at Record High as Consumers’ Confidence in Home-Selling Environment Strengthens. It may be good news for those skinny housing inventories, homebuyers are allegedly confronting that increasing numbers of homeowners think now is a good time to sell. Fannie Mae says net positive responses to that question on its June National Housing Survey (NHS) increased by 7 points, reaching a new survey high of 39 percent. Those responses helped drive Fannie Mae’s Home Purchase Sentiment Index (HPSI) up by 2.1 percentage points to 88.3, tying last February’s all-time high for the index. The HPSI is up 5.1 percentage points compared with the same time last year. Full Story…http://www.fanniemae.com/portal/media/corporate-news/2017/june-home-purchase-sentiment-index-6577.html?p=Media&s=News+Releases&from=RSS

 

* CoreLogic: U.S. Home Price Report Shows Prices Up 6.6 Percent in May 2017. CoreLogic released its Home Price Index (HPI) and HPI Forecast for May 2017 on Wednesday which showed home prices are up strongly both year over year and month over month. Home prices nationally increased year over year by 6.6 percent from May 2016 to May 2017, and on a month-over-month basis, home prices increased by 1.2 percent in May 2017 compared with April 2017, according to the CoreLogic HPI. Looking ahead, the CoreLogic HPI Forecast indicates that home prices will increase by 5.3 percent on a year over year basis from May 2017 to May 2018, and on a month over month basis home prices are expected to increase by 0.9 percent from May 2017 to June 2017. Full Story… http://www.corelogic.com/about-us/news/corelogic-us-home-price-report-shows-prices-up-6.6-percent-in-may-2017.aspx

 

* Job Growth Surged in June. The U.S. labor market rebounded in June, new government data showed Friday, as employers surpassed the expectations of most economists by adding 222,000 jobs. The unemployment rate ticked up to 4.4 percent, from 4.3 percent in May, but it did so for a good reason – more people joined the labor force to look for work. The Labor Department also revised its estimates for job gains in April and May, raising the combined figure by 47,000 jobs. “We’ve been creating close to 200,000 jobs a month now for more than seven years. That’s just an incredible achievement. And that machine is still humming,” Mark Zandi, chief economist at Moody’s Analytics, said Friday. Eight years into the current economic expansion, the pace of hiring remains strong. Full Story… https://www.washingtonpost.com/news/wonk/wp/2017/07/06/what-to-watch-for-in-the-june-jobs-report/?utm_term=.6cb80322526e

Have a productive week!

Jason


Portland Metro Weekend Event Planner: July 7-9, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
FOR JULY 7-9, 2017

 

OREGON LAVENDER FARM TOUR
SAT-SUN – These OLA member farms and nurseries, some not open any other time during the year, will be throwing their doors open to the public as their lavender is blooming. 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.

PORTLAND ROSE FESTIVAL ROSE CUP RACES
FRI-SUN – These NASCAR-like V8, ground-pounders built here in Portland will bring the excitement of stockcar racing to the weekend.

MISSISSIPPI STREET FAIR
SAT200 local vendors and craft booths, five stages of entertainment, a kids’ corner, food carts, and a beer/wine garden on N. Mississippi Avenue.

BEAD FAIRE
FRI-SUN – Discover millions of beads from around the world: glass, lampwork, wood, seed, pearl, crystal, gemstone, gold & silver, antique and one of a kind. Bead making tools, supplies & boxes and all your beading needs are found here under one roof!

FUELED BY WINE
SUNHalf marathon exploring some of the most magnificent vineyard vistas in Oregon, as well as by working with local Dundee charities and Oregon sponsors creating an exciting event for the region while also supporting the local economy.

TONY STARLIGHT SHOWROOM
SAT – An ever-evolving hybrid of song parody, musical impressions and various tributes to iconic artists and pop culture phenomena.

MOVIES IN THE PARK
Through September 8 – Evening after evening, summer nights in Portland parks offer families and friends the perfect backdrop to renew connections. 12 week schedule with 41 movies at 40 sites around the city.

CHAMBER MUSIC NORTHWEST SUMMER FESTIVAL
Through July 30 – Enjoy extraordinary music throughout the month at various locations. Check the schedule for times and locations and see which shows are free.

80’S VIDEO DANCE ATTACK
Through August 26 – Grab your favorite 80’s outfit and head to Lola’s Room. Enjoy your favorite 80’s hits playing all night on their multiple giant screens.

OREGON BACH FESTIVAL
FRI through July 15Oregon Bach Festival celebrates the music and legacy of classical composer Johann Sebastian Bach.

DUELING PIANO SHOW
FRI & SAT (All Month)The Barrel Room lays claim to the longest running dueling piano shows in Portland. The show, which at times can get a “little cheeky,” isn’t just two players banging on pianos for five hours. They boast a Vegas style, request driven, interactive show complete with bits, games, sing-a-longs, comedy and some of the best players in the U.S.

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.

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.

PORTLAND ESCAPE ROOMS
All Month THURS-SUNCedar 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.

VANCOUVER METRO EVENTS

RIVERVIEW SIX TO SUNSET CONCERTS
Thursdays through August 10 – Celebrate summer Thursday evenings while listening to our fantastic bands play the sun down. Bring your family and friends down to Esther Short Park, put down a picnic blanket and some lawn chairs and enjoy.

FRIDAY NIGHT MOVIES IN THE PARK
Fridays Through August 11 – Bring your blankets and lawn chairs and enjoy big screen entertainment. All movies are family friendly.

RUSTY GRAPE: MOVIES ON THE LAWN
Fridays Through September 1 – Visit the Rusty Grape Vineyard Friday evenings for a family friendly movie night. Bring your chair or blanket and enjoy the beautiful summer night.

HEISEN HOUSE: SUMMER CONCERT SERIES
Through September 29 – Enjoy summer concerts among the vines every Friday night at Heisen House Vineyards.

GUIDED WALKS AT COLUMBIA SPRINGS
Through October 18 – Each guided walk consists of an easy stroll or tour with themes such as plants, animals, geology, local history, and the fish hatchery. These events are appropriate for all ages and no registration is required. Spots are available at a first come, first served basis to the first 30 visitors.

VANCOUVER FARMER’S MARKET
SAT through Oct 29 – You’ll discover fresh and local produce, flowers, plants, baked goods, delicious food, pet treats, and accessories for yourself, home, or garden.

COLUMBIA TECH CENTER FARMER’S MARKET
Through August 31 – A pet-friendly place where you can chat with people who have grown or made your purchase, grab a bite to eat, watch the kids play, and enjoy a wonderful, relaxing day.

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

· Spiderman: Homecoming
· A Ghost Story
· Cartels
· Undercover Grandpa
· Austin Found
· City of Ghosts
· Hickok

Click here for movie times and theaters.

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 3, 2017

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With the summer selling season in full swing This Week in Real Estate, The Conference Board released its Consumer Confidence Index finding the present situation index rose to a nearly 16-year high. Below are a few highlights from the last week of June that influence our business:

* Consumer Confidence Gets Stronger in June. The Conference Board said its consumer confidence index rose to 118.9 last month from 117.6. The increase in June exceeded the 116 forecast of economists polled by MarketWatch. The “present” situation index, which tracks how consumers view the current health of the economy, rose to a nearly 16-year high of 146.3 from 140.6. Just three months earlier the full index hit the highest level since 2001. “Overall, consumers anticipate the economy will continue expanding in the months ahead, but they do not foresee the pace of growth accelerating,” said Lynn Franco, director of economic indicators at the board.
Full Story… http://www.marketwatch.com/story/consumer-confidence-stays-strong-in-june-2017-06-27

* Fannie Mae: As Mortgage Demand Cools and Competition Heats Up, More Lenders Are Planning to Ease Credit Standards. More mortgage lenders say they have eased credit standards recently and expect further easing in the coming months, according to Fannie Mae’s second quarter 2017 Mortgage Lender Sentiment Survey. On net, the share of lenders reporting they have eased mortgage credit standards over the prior three months has ticked up gradually since the fourth quarter of 2016. Additionally, when anticipating the next three months, the net share of lenders saying they plan to ease credit standards for GSE eligible, non-GSE eligible, and government loans reached or surpassed survey highs this quarter. “Expectations to ease credit standards climbed to survey high points in the second quarter as more lenders reported slowing mortgage demand and increasing concerns about competition from other lenders,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “Lenders cited additional contributing factors such as diminishing compliance concerns and more support from the GSEs.”
Full Story… http://www.fanniemae.com/portal/research-insights/surveys/mortgage-lender-sentiment-survey.html

* Black Knight: Home Price Index Hits All-Time High. Home prices hit their all-time high in April, according to Black Knight Financial Services’ latest Home Price Index report. Home prices increased a total of 3.6% in April since the start of 2017 to the HPI’s all-time high of $275,000. This is an increase of 1.2% from the previous month and 6% from last year. One city stood out above the rest as it led its state to the highest monthly appreciation for the third consecutive month. Seattle home prices increased a full 8.4% since the start of the year. All the largest 20 states and the 40 largest metros saw an increase in home prices in April, and the top 10 best-performing metros all increased by 2% or more. Of the top six best performing metros, five are located in Washington. In fact, nine of the top 10 metros are in the Western U.S. The one exception is Detroit, which came in as the 10th best performing metro with its increase of 2% from the month before.
Full Story… https://www.housingwire.com/articles/40525-black-knight-home-price-index-hits-all-time-high?eid=322520585&bid=1796925

Have a productive week!

Jason


Portland Metro Weekend Events Planner: June 30-July 4, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
FOR JUNE 30-JULY 4, 2017

 

4TH OF JULY FIREWORKS
TUES – Discover where to go to see Fireworks in the Portland Metro Area.

WATERFRONT BLUES FESTIVAL
SAT-TUES – Celebrate the 30th Anniversary of the Waterfront Blues Festival! 80 performers playing on multiple stages throughout this 5-day event, fireworks show and much more.

ST. PAUL RODEO
FRI-TUES – There’s no doubt that St. Paul knows how to “do” rodeo. This celebration includes the roughest, toughest contests between men and animals and underscores the grit and fortitude of those folks we know as cowboys and cowgirls.

PORTLAND CRAFT BEER FESTIVAL
FRI-SUN – Find the broadest selection of local beers, ciders and wine, including a few that you can’t find anywhere outside the breweries.

CHAMBER MUSIC
WED-FRI – Hear world-renowned artists at the Summer Festival of Chamber Music Northwest. Repeats in Jan.

OREGON BACH FESTIVAL
FRI through July 15Oregon Bach Festival celebrates the music and legacy of classical composer Johann Sebastian Bach.

FOOT TRAFFIC FLAT
TUES – The only race on beautiful Sauvie Island, the “Flat” is a Fourth of July tradition around Portland. Enjoy the gorgeous scenery, a super flat course, and a start and finish at a picturesque working farm. Courses to fit everyone, Full Marathon, Half Marathon, 8K & 5K.

GEAR CON
FRI-SUN – Enjoy discussions, hands-on workshops, gentlemanly/ladylike fisticuffs, hair-raising Tesla coil demos, our fine art salon and marketplace, and more adventurous delights from the past that should have been.

OZ CON
FRI-SUN – Featuring all our traditional activities: Oz quizzes for all ages and levels, the Oz Treasure Hunt, the Oz Research Table, the Oz Dealers Room, Oz Show and Tell to share your rare and wonderful Oz discoveries, panel discussions, displays, and super after-parties.

DUELING PIANO SHOW
FRI & SAT (All Month)The Barrel Room lays claim to the longest running dueling piano shows in Portland. The show, which at times can get a “little cheeky,” isn’t just two players banging on pianos for five hours. They boast a Vegas style, request driven, interactive show complete with bits, games, sing-a-longs, comedy and some of the best players in the U.S.

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.

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.

PORTLAND ESCAPE ROOMS
All Month THURS-SUNCedar 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.

VANCOUVER METRO EVENTS

INDEPENDENCE DAY AT FORT VANCOUVER
TUES – Visit the Fort Vancouver Historic Site for one of the best fireworks displays around. Come down early to get a good viewing seat!

HEISEN HOUSE: SUMMER CONCERT SERIES
Through September 29 – Enjoy summer concerts among the vines every Friday night at Heisen House Vineyards.

GUIDED WALKS AT COLUMBIA SPRINGS
Through October 18 – Each guided walk consists of an easy stroll or tour with themes such as plants, animals, geology, local history, and the fish hatchery. These events are appropriate for all ages and no registration is required. Spots are available at a first come, first served basis to the first 30 visitors.

VANCOUVER FARMER’S MARKET
SAT through Oct 29 – You’ll discover fresh and local produce, flowers, plants, baked goods, delicious food, pet treats, and accessories for yourself, home, or garden.

COLUMBIA TECH CENTER FARMER’S MARKET
Through August 31 – A pet-friendly place where you can chat with people who have grown or made your purchase, grab a bite to eat, watch the kids play, and enjoy a wonderful, relaxing day.

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

· Despicable Me 3
· Amityville: The Awakening
· The House
· Inconceivable
· Darkness Rising
· Baby Driver
· Hired Gun
· 2:22
· 13 Minutes

 

Click here for movie times and theaters.

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: June 26, 2017

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The National Association of Realtors released This Week in Real Estate that the median sales price reached a new high in May while the median days on the market decreased to a new low. Below are a few highlights from the third week of June that influence our business:

* As Existing Home Sales Rise, Median Home Price Hits New High. Existing-home sales rebounded in May and low inventory levels helped propel the median sales price to a new high while pushing down the median days a home is on the market to a new low, according to the National Association of Realtors. All major regions except for the Midwest saw an increase in sales last month. Total existing-home sales climbed 1.1 percent to a seasonally adjusted annual rate of 5.62 million in May from a downwardly revised 5.56 million in April. Last month’s sales pace is 2.7 percent above a year ago and is the third highest over the past year. The median existing-home price for all housing types in May was $252,800. This surpasses last June ($247,600) as the new peak median sales price, and is up 5.8 percent from May 2016 ($238,900) and marks the 63rd straight month of year-over-year gains. Total housing inventory at the end of May rose 2.1 percent to 1.96 million existing homes available for sale, but is still 8.4 percent lower than a year ago (2.14 million) and has fallen year-over-year for 24 consecutive months. Unsold inventory is at a 4.2-month supply at the current sales pace, which is down from 4.7 months a year ago. Properties typically stayed on the market for 27 days in May, which is down from 29 days in April and 32 days a year ago; this is the shortest timeframe since NAR began tracking in May 2011. Inventory data from realtor.com reveals that the metropolitan statistical areas where listings stayed on the market the shortest amount of time in May were Seattle-Tacoma-Bellevue, WA (20 days); San Francisco-Oakland-Hayward, CA (24 days); San Jose-Sunnyvale-Santa Clara, CA (25 days) and Salt Lake City, UT (26 days).

Full Story… https://www.nar.realtor/news-releases/2017/06/existing-home-sales-rise-11-percent-in-may-median-sales-price-ascends-to-new-high

* Housing Remains a Bright Spot for the Economy. Freddie Mac released its monthly outlook for June on Friday, which shows that despite some recent bumps, the U.S. housing market remains on track to exceed last year’s best-in-a-decade levels for housing starts and home sales. May marked the 80th consecutive month of job gains. In the first quarter of 2017, the homeownership rate was 63.6 percent – six percentage points lower than its peak in 2004 when it reached its all time-high of 69.2 percent. Strong demand and a short supply of housing in many markets continues to push house prices higher. Expect house price appreciation to be over 5 percent in 2017.

Full Story…  http://freddiemac.mwnewsroom.com/press-releases/freddie-mac-june-2017-outlook-otcqb-fmcc-1313709?feed=429e0be3-9aef-4a3a-9775-43f8e470d510

* Mortgage Default Rate Falls to Near Record Low in May. Borrowers are going into default on their first mortgages less often than at nearly point in the last 13 years, a new report from the S&P Dow Jones Indices and Experian showed. The newest S&P/Experian Consumer Credit Default Indices, which is a comprehensive measure of changes in consumer credit defaults, showed that the default rate for first mortgages fell to 0.64% in May. That’s down five basis points from April’s level of 0.69%. The default rate in May was also just one basis point above May 2016’s level of 0.63%, which was the lowest that figure had been since July 2004. That means that May 2017’s default rate of 0.64% is the second lowest for any month in nearly 13 years. “The default rate on first mortgage remains at 1%, lower than the pre-crisis period,” said David Blitzer, the managing director and chairman of the Index Committee at S&P Dow Jones Indices.

Full Story… https://www.housingwire.com/articles/40475-mortgage-default-rate-falls-to-near-record-low-in-may?eid=322520585&bid=1791352

Have a productive week!

Jason


Portland Metro Weekend Events Planner: June 23-25, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
FOR JUNE 23-25, 2017

 

FESTIVAL OF BALLOONS

FRI-SUN – Get down to Cook Park early each morning to experience the spectacular hot air balloons as they launch and dot the morning sky. Spend the afternoon shopping at the craft and business vendor booths.

PORTLAND ROSE FESTIVAL MILK CARTON BOAT RACE

SUN – Children and adults race and show off their handmade, human-powered boats that float only by means of recycled milk cartons and jugs. Creatively-constructed watercraft will compete in nine categories, with one earning a place in history upon the coveted Best in Show milk can trophy

HEROES & VILLAINS FAN FEST 

SAT-SUN – Spend the entire weekend with your favorite Heroes and Villains guests, or head across our newly expanded venue to meet cast members from The Walking Dead, Sons of Anarchy, and more from Walker Stalker Con! One ticket gives you complete access to guests, vendors, and panels from BOTH shows!

WORLD NAKED BIKE RIDE

SAT – Worldwide bike ride that highlights the vulnerability of cyclists everywhere and decries society’s dependence on pollution-based transport. It’s also a lot of fun and it’s free for all! 

PORTLAND INTERNATIONAL BEER FEST

FRI-SUN – 200+ world class beersShowcasing hard-to-find beers and ciders from all over the world. Sample everything from classic styles (pilsners, pales, etc.) to exotic new-world hybrids (barrel-aged hoppy farmhouse sours, etc.)

BREWFEST IN THE PARK

FRI-SUN – Grab your picnic blankets, bikes, the kids & the dog and join us for the first annual BrewFest in the Park at Overlook Park! Over 60 organically brewed craft beverages including beer cider and mead.

GOOD IN THE HOOD

FRI-SUN – Multicultural food, kids activities, live entertainment & much more. Parade at 11AM on Saturday will start at King Elementary.

LAKE OSWEGO FESTIVAL OF THE ARTS

FRI-SUN – Featuring more than 110 artists, several art exhibits, music, hands-on art activities, demonstrations & much more.

PORTLAND JEWISH FILM FESTIVAL

Through SUN – Celebrating the diversity of Jewish history, culture, identity, and filmmaking. We hope that these films, and the stories they tell, resonate beyond their settings and speak to universal experiences and issues that confront our common humanity.

DUELING PIANO SHOW
FRI & SAT (All Month)The Barrel Room lays claim to the longest running dueling piano shows in Portland. The show, which at times can get a “little cheeky,” isn’t just two players banging on pianos for five hours. They boast a Vegas style, request driven, interactive show complete with bits, games, sing-a-longs, comedy and some of the best players in the U.S.

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.

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.

PORTLAND ESCAPE ROOMS
All Month THURS-SUNCedar 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.

VANCOUVER METRO EVENTS

HEISEN HOUSE: SUMMER CONCERT SERIES
Through September 29 – Enjoy summer concerts among the vines every Friday night at Heisen House Vineyards.

GUIDED WALKS AT COLUMBIA SPRINGS
Through October 18 – Each guided walk consists of an easy stroll or tour with themes such as plants, animals, geology, local history, and the fish hatchery. These events are appropriate for all ages and no registration is required. Spots are available at a first come, first served basis to the first 30 visitors.

VANCOUVER FARMER’S MARKET
SAT through Oct 29 – You’ll discover fresh and local produce, flowers, plants, baked goods, delicious food, pet treats, and accessories for yourself, home, or garden.

COLUMBIA TECH CENTER FARMER’S MARKET
Through August 31 – A pet-friendly place where you can chat with people who have grown or made your purchase, grab a bite to eat, watch the kids play, and enjoy a wonderful, relaxing day.

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.

WANT TO GET OUT OF TOWN?

LINCOLN CITY SUMMER KITE FESTIVAL

SAT-SUN – Kite flying demonstrations by experts, free kids kitemaking, running of the bols, and some of the most colorful “big” kites in the world!

GORGE BLUES FESTIVAL

FRI-SAT – Enjoy tons of live bands, 16 craft breweries and regional wineries at Skamania County Fairgrounds. Onsite camping available.  

WINDSURFING FESTIVAL IN HOOD RIVER

SAT-SUN – Watch windsurfing demonstrations and races, check out gear, play games and hear live music.

WINE & JAZZ FEST

SAT – Come enjoy wine and food from renowned local wineries and restaurants, all set in the beautiful historic gardens of Deepwood

SUNFEST SUMMER SOLSTICE FESTIVAL 

THURS-SUN – This is a four-day festival held on privately-owned land near Vernonia OR. Enjoy solstice rituals, workshops, children’s activities, raffle and much more. Camping is available.

WORLD BEAT FESTIVAL

SAT-SUN – Experience the music, dance, food and traditions of over 70 nations and cultures.

PETAL PEDAL BIKE RIDE

Through SAT – Gorgeous scenery, low-traffic roads, and unrivaled support provide the foundation for a wonderful day-cation in the fertile Willamette Valley. Petal Pedal is a high-end event with beautiful routes in the Willamette Valley. Includes admission to The Garden, live music, and a gourmet dinner with wine and Hopworks beer. 30, 50, 70, 100-mile routes.

NEW MOVIES OUT THIS WEEK

· Transformers: The Last Knight

· The Beguiled

· The Bad Batch

· Alien Arrival

· Fireangels: A Drifter’s Fury

· Good Fortune

· All the Rage

· A Beginner’s Guide to Snuff

· The Operative


Click here for movie times and theaters.

CLICK HERE TO VIEW THIS WEEK’S OPEN HOUSES

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


©2016 BHH Affiliates, LLC. An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc. Equal Housing Opportunity.