This Week in Real Estate: August 3, 2015

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While the most significant headline This Week in Real Estate was the Pending Home Sales Index decrease in June the favorable news is the PHSI has experienced healthy year-over-year appreciation. Below are a few of the highlights from the final week in July that influence our business:

* Pending Sales – Another Bump in the Ride Up. The Pending Home Sales Index declined in June after reaching the highest level in over nine years in May. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by NAR, decreased 1.8% in June, but is up 8.2% from the same month a year ago, and has increased year-over-year, and has increased year-over-year for ten consecutive months. Year-over-year, the PHSI was up 12.0% in the Northeast, 10.4% in the West, 7.8% in the South and 5.0% in the Midwest. The earlier string of positive pending sales releases in 2015 was consistent with a strong report last week as existing sales reached a pre-recession level. The June PHSI is a small bump in the road, and follows last week’s similar decline in new home sales. However, the longer view suggests continued good news for the existing sales market and for builders in 2015. Full story… http://eyeonhousing.org/2015/07/pending-sales-another-bump-in-the-ride-up/

* Fannie Mae: Mortgage Serious Delinquency Rate Declined in June, Lowest Since August 2008. Fannie Mae reported Friday that the single-family serious delinquency rate declined in June to 1.66% from 1.70% in May. The serious delinquency rate is down from 2.05% in June 2014, and this is the lowest level since August 2008. The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59%. Mortgage loans that are three monthly payments or more past due or in foreclosure are considered seriously delinquent. Full story… http://www.calculatedriskblog.com/2015/07/fannie-mae-mortgage-serious-delinquency.html

* Freddie Mac: Mortgage Serious Delinquency Rate Declined in June, Lowest Since November 2008. Freddie Mac reported that the single-family serious delinquency rate declined in June to 1.53%, down from 1.58% in May. Freddie’s rate is down from 2.07% in June 2014, and the rate in June was the lowest level since November 2008. Freddie’s serious delinquency rate peaked in February 2010 at 4.20%. Full Story… http://www.calculatedriskblog.com/2015/07/freddie-mac-mortgage-serious.html

Have a productive week!

Jason


Portland Metro Weekend Events: July 31-Aug. 2, 2015

 
PORTLAND METRO EVENTS WEEKEND PLANNER
FOR JULY 31-AUGUST 2, 2015

WASHINGTON COUNTY FAIR

THURS JULY 30-SUN AUG 2 Washington County Fair offers carnival rides, farm animals, a kid village, food booths, motorsport shows, and stage entertainment in Hillsboro. Free entry.

BEER BBQ & BOWSER

SAT AUG 1 Family friendly Bones and Brew includes barbecue, music, contests, dog-supply vendors, and 30 microbrews outside Rogue Distillery & Public House.

BLUES, JAZZ & FUNK

SAT AUG 1 Soulful Giving Blanket Concert features live music, gourmet food, Oregon wine & beer, and vendors on 15 acres of meadows & forest near the Sandy River for age 21+. Discount tickets $13.

HELLO KITTY SHOW

FRI JULY 31-SUN AUG 2 Hello Kitty Supercute Friendship Festival features live stage performances, dancing, interactive exhibits, and photo opportunities in Veterans Memorial Coliseum. Discount tickets $15.

CRAWFISH FESTIVAL

FRI JULY 31-SUN AUG 2 Tualatin Crawfish Festival has a cook-off, eating contests, running events, dog show, kids’ zone, weekend beer and wine, and live entertainment.

INDIE ROOTS MUSIC FESTIVAL

FRI JULY 31-SUN AUG 2 Pickathon offers a large lineup of diverse music (indie/roots, garage rock, folk, alternative country, bluegrass) on Pendarvis Farm in Happy Valley. It also promotes ecology and recycling. No pets.

OBONFEST JAPANESE FESTIVAL

SAT AUG 1 Obonfest commemorates ancestors with Obon dance, lanterns, children’s booths, Japanese food, beer, and sake at Oregon Buddhist Temple. Free entry.

GEM & MINERAL FESTIVAL

SAT-SUN AUG 1-2 Rice Northwest Museum Summer Festival includes cutting open geodes, scavenger hunts, games, gold panning, jewelry & fossil vendors, exhibits, a visit from the Flintstone vehicle, food & wine in Hillsboro.

FREMONT FEST

SAT AUG 1 Fremont Fest includes a 10 a.m. parade of bikes & pets & marching band, beer garden, entertainment, kids’ zone, and vendors on NE Fremont Street.

ZOO CONCERTS

FRI JULY 31-SUN AUG 2 (through Sept. 6) Oregon Zoo Summer Concerts feature world-class performers and include a same-day zoo pass.

MOVIES IN THE PARK

JULY-SEPTEMBER 11 Movies in the Park begin with entertainment at 6:30 followed by movies at dusk. Bring coats. Free.

HARRY POTTER BIRTHDAY BASH

FRI JULY 31-SUN AUG 2 Harry Potter Birthday Bash invites fans and new readers of all ages to celebrate with a magical weekend event featuring all eight Harry Potter films plus these special activities: a Hunt for Deathly Hallows, a Magical Photo Booth, Professor Trelawney’s Popcorn Predictions, Dobby’s Dance Party and appearances by many of the beloved witches and wizards from Hogwarts! http://www.kigginstheatre.net/events/harry-potter-birthday-bash/

LIVING HISTORY

SAT AUG 1 Help commemorate the 150th anniversary of the American Civil War by joining costumed reenactors on the grounds of historic Vancouver Barracks portraying members of the Civil War-era 1st Oregon Volunteer Cavalry. Living History activities may include black powder demonstrations, mounted and dismounted cavalry drills, encampments, and and scouting formations from the Civil War era in the Pacific Northwest.

GUIDED NATURE HIKES

FRI JULY 31-SUN AUG 2 (every day, various times & locations) Park guides lead nature hikes to explore the forest, stream ecosystems and natural history of the natural area. Tryon Creek State Park & more

PORTLAND SATURDAY MARKET

SAT-SUN AUG 1-2 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

PDBA DRAGON BOAT REGION CHAMPIONSHIPS

SAT-SUN AUG 1-2 The PDBA Championships are held every two years in preparation for the International Dragon Boat Federation (IDBF) World Championships. This regatta will select regional representative teams to represent the United States at 2016 World Championship in Adelaide, Australia.

VANCOUVER FARMER’S MARKET

SAT-SUN AUG 1-2 You’ll discover fresh and local produce, flowers, plants, baked goods, delicious food, pet treats, and accessories for yourself, home, or garden. Over 250 Vendors! Downtown Vancouver, 8th & Ester St.

FARMER’S MARKET AT VANCOUVER MALL

SAT-SUN AUG 1-2 The newest open air farmers market in Vancouver, Washington. Offering local farmers, small businesses, specialty crafters & local food vendors the opportunity to enjoy the neighbors. Activities for the kids & live entertainment most weekends in the Westfield Mall parking lot near Macy’s.

COLUMBIA RIVER CONCOURS

SUN AUG 2 Over 150 classic cars and motorcycles restored to showroom polish will be on display on the grounds of Officers Row. More than a car show, the concours showcases vehicles whose historical accuracy is equally as important as their exceptional condition. http://columbiariverconcours.com/

VANCOUVER FRIDAY NIGHT MOVIES IN THE PARK

SAT JULY 31-AUG 14 Bring a lawn chair or blanket to the park and enjoy a movie on the big screen at our free family friendly movie nights! Come early and participate in pre-movie activities.

BATTLE GROUND VILLAGE MOVIES IN THE PARK

FRI JULY 31 (every Friday through Aug. 28) Celebrate summer with an outdoor movie in the park! Bring blankets, pillows and low sand chairs for a relaxing night under the stars. Grab a bite to eat in Battle Ground Village, indulge in delicious popcorn and cotton candy, or pack some snacks. Movies in the Park is tons of fun for all ages!

NEW MOVIES OUT THIS WEEK
Mission Impossible
• Vacation
• The Best of Enemies
• The End of the Tour
• Jenny’s Wedding
• A Lego Brickumentary
• List to me Marion
• Northmen: A Viking Saga
• The Young and Prodigious T.S.

CLICK HERE TO VIEW THIS WEEK’S OPEN HOUSES


This Week in Real Estate: July 27, 2015

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A few of the most noteworthy headlines This Week in Real Estate continue to report that the real estate market is experiencing the highest levels of activity in nearly a decade. In other welcomed news the CFPB finalized the TRID disclosure rule start date delaying it to October 3. Below are a few of the highlights from the third week in July that influence our business:

* Existing U.S. Home Sales Climb to Highest Level in 8 Years as Home Prices Surpass July 2006 Peak. Existing-home sales increased in June to their highest pace in over eight years, while the cumulative effect of rising demand and limited supply helped push the national median sales price to an all-time high, according to the National Association of Realtors. Sales are now at their highest pace since February 2007, have increased year-over-year for nine consecutive months and are 9.6 percent above a year ago. The median existing-home price in June surpasses the peak median sales price set in July 2006. June’s price increase also marks the 40th consecutive month of year-over-year gains. Unsold inventory is at a 5.0 month supply. Full story… http://www.realtor.org/news-releases/2015/07/existing-home-sales-rise-in-june-as-home-prices-surpass-july-2006-peak

* Economy Building Momentum into Second Half of the Year. Incoming data suggest that domestic economic activity was stronger than expected in the second quarter, paving the way for accelerated growth in the second half of the year. “Our housing forecast remains largely unchanged, with leading housing indicator pointing to continued improvement heading into summer,” said Fannie Mae Chief Economist Doug Duncan. “We expect to see strong sales, lean inventories, and rising confidence through the rest of the year, which should support increased home building activity and give an added boost to economic growth. Full story… http://www.fanniemae.com/portal/about-us/media/financial-news/2015/6275.html
* Foreclosure Inventory Drops to Lowest Level Since 2007. The national foreclosure inventory continued to drop and dipped to the lowest level since 2007, the latest First Look report from Black Knight said. The delinquency rate is down 3% from May and down nearly 16% from one year ago. Additionally, June’s 79,000 foreclosure starts mark the second lowest post-crisis volume. Full story… http://www.housingwire.com/articles/34561-black-knight-foreclosure-inventory-drops-to-lowest-level-since-2007
* CFPB Finalizes October 3 Effective Date for TRID. The Consumer Financial Protection Bureau (CFPB) issued a final rule moving the effective date of the Know Before You Owe mortgage disclosure rule, also called the TILA-RESPA Integrated Disclosures Rule, to October 3. The Bureau believes that moving the effective date may benefit both industry and consumers with a smoother transition to the new rule. The Bureau further believes that scheduling the effective date on a Saturday may facilitate implementation by giving industry time over the weekend to launch new systems configurations and to test systems. Full Story… http://www.consumerfinance.gov/newsroom/cfpb-finalizes-two-month-extension-of-know-before-you-owe-effective-date/

Have a productive week!

Jason


Portland Metro Weekend Events: July 24-26, 2015

Young boy jumping into lake
PORTLAND METRO EVENTS WEEKEND PLANNER
FOR JULY 24-26, 2015

 

FLOAT DOWN THE RIVER

SUN JULY 26 Jump in the Willamette River with lifejacket and inner tube for The Big Float downstream to a beach party with a live music barge, food carts, and a beer garden.

LENTS STREET FAIR

SUN JULY 26 Founder’s Day Parade is 11:15 a.m. Lents Street Fair at noon has live music, food, beer, a kids’ area, a chicken beauty pageant, and the Belmont Goats.

INDIE CRAFT FAIR

SAT-SUN JULY 25-26 Renegade Craft Fair Mini Market offers indie crafts, artisan food, and music outside Rejuvenation. Free.

BOOK FAIR

SAT JULY 25 One hundred authors display their latest books and sign autographs at NW Book Festival, which also has publishers at Pioneer Courthouse Square. Free.

BASKETBALL TOURNAMENT

SAT JULY 25 Rip City 3-on-3 is for all ages at the Rose Quarter.

PEOPLE IN THE STREET

SUN JULY 26 Walk, bike, or roller-skate on 8 miles of streets when most cars are banned for Northeast Portland Sunday Parkways. Nearby parks have activities & music. Free

JAZZ FESTIVAL

FRI-SUN JULY 17-19 Hear local and international jazz and blues heroes in a beautiful setting under the historic St. Johns Bridge at the Cathedral Park Jazz Festival. Free.

SHAKESPEARE ROMANCE

FRI-SUN JULY 24-26 (through Aug. 8) Cymbeline is the story of a brave princess: full of comedy, drama, action, and romance, live at Milagro Theatre. Synopsis. Discount tickets $11.

ZOO CONCERTS

FRI-SUN JULY 24-26 (through Sept. 6) Oregon Zoo Summer Concerts feature world-class performers and include a same-day zoo pass.

MOVIES IN THE PARK

JULY – SEPTEMBER 11 Movies in the Park begin with entertainment at 6:30 followed by movies at dusk. Bring coats. Free.

3 DAYS OF ALOHA & HO’IKE HAWAIIAN FESTIVAL

THURS-SAT JULY 23-25 More than 10,000 visitors have swayed to the rhythm of hula dancers and Polynesian and the heartbeat of their cultures. Arts, crafts, and food vendors will round out this three-day long festival which culminates in the Ho’Ike and Hawaiian Festival at Esther Short Park. http://hawaiianfestivalpnw.com/

CAMAS DAYS

FRI-SAT JULY 24-25 Arts & craft vendors, a gated wine & microbrew street, a food street, concerts in the park, two parades (kids parade on Friday & main parade on Saturday), the ducky derby, the camas days kids activities street, a softball tournament and the famous bathtub races in front of City Hall. http://www.cwchamber.com/cwdata/CamasDays/tabid/68/Default.aspx

GUIDED NATURE HIKES

FRI-SUN JULY 24-26 (every day, various times & locations) Park guides lead nature hikes to explore the forest, stream ecosystems and natural history of the natural area. Tryon Creek State Park & more

PORTLAND SATURDAY MARKET

SAT-SUN JULY 25-26 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

TIDEWATER COVE BOAT SHOW

THURS-SUN JULY 23-26 Tidewater Cove Marina is inviting boat enthusiasts to its first annual Boat Show this weekend. All are welcome to this free event where you can view a range of boats and cruisers. http://www.tidewatercovemarina.com/

VANCOUVER FARMER’S MARKET

SAT-SUN JULY 25-26 You’ll discover fresh and local produce, flowers, plants, baked goods, delicious food, pet treats, and accessories for yourself, home, or garden. Over 250 Vendors! Downtown Vancouver, 8th & Ester St.

FARMER’S MARKET AT VANCOUVER MALL

SAT-SUN JULY 25-26 The newest open air farmers market in Vancouver, Washington. Offering local farmers, small businesses, specialty crafters & local food vendors the opportunity to enjoy the neighbors. Activities for the kids & live entertainment most weekends in the Westfield Mall parking lot near Macy’s.

VANCOUVER ART SHOW & SALE

THURS-SUN JULY 24-26 Meet the artists and enjoy wine for sale from Koi Pond Cellars, appetizers provided by Latte Da, and music by Larry K. McCullough of In2N, View art both indoors and on the covered patio and watch the artists create works of art, including oil and acrylic paintings, handcrafted jewelry, and photographs. http://www.fvrlf.org/

VANCOUVER FRIDAY NIGHT MOVIES IN THE PARK

SAT JULY 25-AUG 14 Bring a lawn chair or blanket to the park and enjoy a movie on the big screen at our free family friendly movie nights! Come early and participate in pre-movie activities.

BATTLE GROUND VILLAGE MOVIES IN THE PARK

FRI JULY 24 (every Friday through Aug. 28) Celebrate summer with an outdoor movie in the park! Bring blankets, pillows and low sand chairs for a relaxing night under the stars. Grab a bite to eat in Battle Ground Village, indulge in delicious popcorn and cotton candy, or pack some snacks. Movies in the Park is tons of fun for all ages!

NEW MOVIES OUT THIS WEEK
Paper Towns
• Southpaw
• Pixels
• 10 Cent Pistol
• Big Significant Things
• Phoenix
• Samba
• Unexpected
• The Vatican Types

CLICK HERE TO VIEW THIS WEEK’S OPEN HOUSES


This Week in Real Estate: July 21, 2015

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My apologies for delivering This Week in Real Estate a day later than normal. It is hard to imagine in today’s age of how convenient and accessible technology is everywhere, that you find a place that has no cell service and no wi-fi connection, but my family and me found such a place this weekend. A fantastic week of reporting with respect to housing starts, builder confidence and foreclosure starts top the headlines in This Week in Real Estate. Below are a few of the highlights from the second full week in July that influence our business:

* Housing Starts in U.S. Surge to Second Highest Level Since 2007. U.S. housing starts rebounded strongly in June and building permits surged to a near eight-year high, pointing to a rapidly strengthening housing market. Groundbreaking increased 9.8 percent to a seasonally adjusted annual pace of 1.17 million units, the Commerce Department said on Friday. Permits for future home construction increased 7.4 percent to a 1.34 million-unit rate, the highest level since July 2007. A survey on Thursday showed builders’ confidence held at a more than 9-1/2-year high in July, suggesting that both permits and groundbreaking have scope to rise further. Full story… http://www.cnbc.com/2015/07/17/strong-us-groundbreaking-building-permits-boost-housing-outlook.html

* Builder Confidence Highest Since 2005. The NAHB/Wells Fargo Housing Market Index (HMI) reached 60 in July and along with the one-point upward revision to June’s index mark a high in the index not seen since November 2005. The HMI measures builder confidence in the market for newly built, single-family homes. Two of the three components of the index also rose to levels last seen in late 2005. The index of current sales rose one point from the June level to 66, topping almost 10 years of values below that level. The index for expected sales rose two points from June’s 69 to 71 also the highest in almost 10 years. The index for traffic fell one point to 43 from the six month high in June of 44. Full story… http://eyeonhousing.org/2015/07/builder-sentiment-reaches-new-high/

* U.S. Foreclosure Starts Come at 10-Year-Low. First-half foreclosure starts 2015 were at their lowest level in any year since RealtyTrac began tracking in 2006 – a 10-year low. RealtyTrac recently released its Midyear 2015 U.S. Foreclosure Market Report, which shows total number of U.S. properties with foreclosure filings down 13% from the previous 6 months and down 3 percent from the same time period in 2014. A total of 304,439 U.S. properties started the foreclosure process in the first half of the year, down 4 percent from a year ago and 18 percent below foreclosure starts in the first half of 2006 before the housing price bubble burst in August 2006. “U.S. foreclosure starts have not only returned to pre-housing crisis levels, they have fallen well below those pre-crisis levels and are still searching for a floor, down 4 percent from a year ago,” says Daren Blomquist, vice president at RealtyTrac. Full story… http://www.realtytrac.com/news/foreclosure-trends/midyear-2015-foreclosure-market-report/

Have a productive week!

Jason


Portland Metro Weekend Events: July 17-19, 2015

Hands hold a huge harvest of wild blackberries.
PORTLAND METRO EVENTS WEEKEND PLANNER
FOR JULY 17-19, 2015

 

BERRY FESTIVAL

FRI-SAT JULY 17-18 Oregon Berry Festival features berry vendors, berry products, music, cooking demonstrations, and kids’ crafts at Ecotrust parking lot. Dinner gala $110 Sat.

SAND SCULPTURE CONTEST

FRI-SUN JULY 17-19 Fifteen teams begin carving giant sculptures from tons of sand at 10 a.m. Friday for Sand in the City at Pioneer Courthouse Square. Free.

ROBIN HOOD FESTIVAL

FRI-SAT JULY 17-18 The Robin Hood Festival has 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 Sherwood Robin Hood Festival Parade Sat. at 10 a.m. Free.

OREGON INTERNATIONAL AIR SHOW

FRI-SUN JULY 17-19 This year’s show features the Blue Angels (for only the second time in the show’s history) and other performers. Friday night begins with a family fun night (check the website for time and schedule). Gates open 9 a.m. Sat-Sun, July 18-19. http://www.oregonairshow.com/

TRIBUTE BAND CONCERT

FRI-SAT JULY 17-18 Hear 13 tribute bands play songs by Tom Petty, Van Halen, AC/DC, Bon Jovi, Heart, Led Zeppelin, etc. at Harefest for age 21+ in Canby. Camping available.

DOG SHOW

FRI-SUN JULY 17-19 Stumptown Cluster – Portland Kennel Club Dog Show has specialty breeds on Friday and all breeds on Saturday and Sunday at Portland Expo Center. Free.

JAZZ FESTIVAL

FRI-SUN JULY 17-19 Hear local and international jazz and blues heroes in a beautiful setting under the historic St. Johns Bridge at the Cathedral Park Jazz Festival. Free.

SHAKESPEARE ROMANCE

FRI-SUN JULY 17-19 (through Aug. 8) Cymbeline is the story of a brave princess: full of comedy, drama, action, and romance, live at Milagro Theatre. Synopsis. Discount tickets $11.

ZOO CONCERTS

FRI-SUN JULY 17-19 (through Sept. 6) Oregon Zoo Summer Concerts feature world-class performers and include a same-day zoo pass.

MOVIES IN THE PARK

JULY – SEPTEMBER 11 Movies in the Park begin with entertainment at 6:30 followed by movies at dusk. Bring coats. Free.

JAPANESE FESTIVAL

SAT JULY 18 Enjoy live Japanese music, dance, traditional games for children, and authentic food at Natsu Matsuri outside the Uwajimaya store in Beaverton. Free.

SCOTTISH HIGHLAND GAMES

FRI-SAT JULY 17-18 Hear Scottish pipes and drums, see athletic games, taste whisky, and join Scottish Highland dancing at Portland Highland Games at Mt. Hood Community College in Gresham. No smoking or pets.

GUIDED NATURE HIKES

FRI-SUN JULY 17-19 (every day, various times & locations) Park guides lead nature hikes to explore the forest, stream ecosystems and natural history of the natural area. Tryon Creek State Park & more

PORTLAND SATURDAY MARKET

SAT-SUN JULY 18-19 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

COLUMBIA RIVER TRIATHALON & FITNESS FESTIVAL

FRI-SUN JULY 17-19 This weekend Triathlon & Fitness Festival along the Columbia River offers something for everyone! Visit the Event Website for additional information!

VANCOUVER FARMER’S MARKET

SAT-SUN JULY 18-19 You’ll discover fresh and local produce, flowers, plants, baked goods, delicious food, pet treats, and accessories for yourself, home, or garden. Over 250 Vendors! Downtown Vancouver, 8th & Ester St.

FARMER’S MARKET AT VANCOUVER MALL

SAT-SUN JULY 18-19 The newest open air farmers market in Vancouver, Washington. Offering local farmers, small businesses, specialty crafters & local food vendors the opportunity to enjoy the neighbors. Activities for the kids & live entertainment most weekends in the Westfield Mall parking lot near Macy’s.

HARVEST HAY HALF: HALF MARATHON, 8K, 4K FAMILY RUN

SUN JULY 19 This run takes place during the annual Harvest Days celebration in Battle Ground, Washington and includes a Half Marathon, 8K, and Family Run. The looped courses provide a scenic backdrop through the countryside and down the heart of Main Street, starting and finishing in Battle Ground Village. http://harvesthayhalf.getboldevents.com/hdhome.htm

CRUISIN’ THE GUT

SAT JULY 18 Check out local participating businesses for specials while watching classic cars cruise up and down main street. Every year, this event gets bigger and better and this year will be no exception! http://cruisinthegut.com/

FIRE IN THE PARK

SAT JULY 18 Organized by Vancouver Firefighters local union 452, this is a day of fun with a firefighter challenge, pipe and drum band, kids events and a variety of safety and awareness programs. Fire in the Park

CIVIL WAR REENACTMENT

SAT JULY 18 Help commemorate the 150th anniversary of the American Civil War by joining costumed reenactors on the grounds of historic Vancouver Barracks portraying members of the Civil War-era 1st Oregon Volunteer Cavalry. Living History activities may include black powder demonstrations, mounted and dismounted cavalry drills, encampments, and scouting formations from the Civil War era in the Pacific Northwest.

VANCOUVER FRIDAY NIGHT MOVIES IN THE PARK

SAT JULY 18-AUG 14 Bring a lawn chair or blanket to the park and enjoy a movie on the big screen at our free family friendly movie nights! Come early and participate in pre-movie activities.

KID DIGS AT FORT VANCOUVER

SAT JULY 18 Kid Digs is a popular hands-on program introducing young people, ages 8 to 12 years old, to the fascinating world of archaeology at one of the Northwest’s most famous archaeological sites.

BATTLE GROUND VILLAGE MOVIES IN THE PARK

FRI JULY 17 (every Friday through Aug. 28) Celebrate summer with an outdoor movie in the park! Bring blankets, pillows and low sand chairs for a relaxing night under the stars. Grab a bite to eat in Battle Ground Village, indulge in delicious popcorn and cotton candy, or pack some snacks. Movies in the Park is tons of fun for all ages!

NEW MOVIES OUT THIS WEEK
Ant-Man
• Trainwreck
• Bonobos: Back to the Wild
• Catch Me Daddy
• Court
• Gloria
• Irrational Man
• The Look of Silence
• Joe Dirt 2
• Mr. Holmes
• The Stanford Prison Experiment

CLICK HERE TO VIEW THIS WEEK’S OPEN HOUSES


This Week in Real Estate: July 13, 2015

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As the second half of the year gets under way the news This Week in Real Estate remains consistent with common first half themes – healthy consumer confidence, increased sales, distressed inventory levels continue to drop and a rate increase expected later this year. Below are a few of the highlights from the first full week in July that influence our business:

* Consumer Housing Attitudes Signal Healthier Purchase Market Ahead. Americans’ outlook toward the current home selling market and the future of home rental prices may bode well for purchase activity this year, according to results from Fannie Mae’s June 2015 National Housing Survey. In a response to a question about the timing of home sales, 52% of consumers in June said they believe now is a good time to sell. That’s the first time that figure has surpassed 50% in the history of Fannie Mae’s monthly National Housing Survey. At the same time, the share who said they expected home rental prices to go up in the next 12 months rose four percentage points to 59 percent, also an all-time survey high. With an increase in housing supply from those ready to sell, combined with higher rental cost expectations, more potential homebuyers may be encouraged to leave the sidelines.
Full story… http://www.fanniemae.com/portal/about-us/media/corporate-news/2015/6267.html

* New and Existing Home Sales Increase. The rate of new single-family home sales, as estimated by the Census Bureau, improved to a seasonally adjusted annual rate of 546,000 in May, the fastest pace in seven years and a 2.2% increase over April. New home inventory remained steady at 206,000. The months’ supply measure fell to 4.5, the lowest since June 2013. Low inventory and growing demand will support increases for single-family construction in the months ahead. Sales growth is occurring on the re-sale side of the market as well. NAR’s Pending Home Sales Index increased for the fifth straight month in June, rising to the highest level in nine years. This follows the NAR May existing home sales report, which increased to the highest pace in six years to a 5.35 million seasonally adjusted annual rate. The June sales rate was 5.1% higher in April and a 9.2% gain over May last year.
Full story… http://eyeonhousing.org/2015/07/eye-on-the-economy-new-and-existing-home-sales-increase/

* CoreLogic: April Distressed Sales Drop to Lowest Level Since 2007. Distressed sales – real estate-owned (REO) and short sales – made up 11.1% of total home sales in April, down 3 percentage points from April 2014 and down 1.5 percentage points from March. While distressed sales typically decrease month over month in April due to seasonal factors, this distressed sales share was the lowest from the month of April since 2007. Broken up, REO sales accounted for 7.4% and short sales made up 3.7% of total home sales in April. Additionally, the short sales percentage fell below 4% in mid-2014 and has remained stable since then. At its peak in January 2009, distressed sales totaled 32.4% of all sales, with REO sales representing 27.9% of that share. There will always be some level of distress in the housing market, and by comparison, the pre-crisis share of distressed sales was traditionally about 2%. If the current year-over-year decrease in distressed sales share continues, the distressed sales share would reach that ‘normal’ 2-percent mark in mid-2017.
Full story… http://www.housingwire.com/articles/34428-corelogic-april-distressed-sales-drop-to-lowest-level-since-2007

* Yellen Reiterates Rates Likely To Increase This Year. Federal Reserve Chair Janet Yellen reaffirmed in a speech to the City Club of Cleveland that she still expects it will be appropriate later this year to take the first step to raise the federal funds rate and begin normalizing monetary policy. Back in May, Yellen said in a speech that the Fed is seeing widespread economic improvement and expects that improvement to continue. And if the economy improves as expected, she believes it will be “appropriate” for the Fed to raise the Federal Funds Rate this year. “My own outlook for the economy and inflation is broadly consistent with the central tendency of the projections submitted by FOMC participants at the time of our June meeting,” Yellen said.
Full story… http://www.housingwire.com/articles/34444-yellen-reiterates-rates-likely-to-increase-this-year

Have a productive week!

Jason


Portland Metro Weekend Events: July 10-12, 2015

 LavenderField copy
PORTLAND METRO EVENTS WEEKEND PLANNER
FOR JULY 10-12, 2015

 

LAVENDER FARM TOUR

SAT-SUN JULY 11-12 Enjoy the beauty and aroma of lavender fields, and attend special events at farms and nurseries around the state during Oregon Lavender Farm Tour.

MISSISSIPPI STREET FAIR

SAT JULY 11 Mississippi Street Fair offers 200 local vendors and craft booths, six stages of entertainment, a kids’ corner, food carts, and a beer/wine garden on N. Mississippi Ave. from Fremont to Skidmore.

BEAD FAIRE

FRI-SUN JULY 10-12 Shop from 70 exhibitors of bead-making supplies and millions of exotic beads from around the world at Bead Faire at the Oregon Convention Center. Discount tickets $3.

ANTIQUES & COLLECTIBLES SHOW

SAT-SUN JULY 11-12 Billed as America’s Largest Antique & Collectible Show, 1400 vendors sell furniture, glassware, movie memorabilia, estate jewelry, paintings, and toys at Portland Expo Center.

VINTAGE CAR & RACE SHOW

THURS-SUN JULY 9-12 Watch racers zip around the track in restored classic cars including Trans Ams at Portland Vintage Racing Festival at Portland International Raceway. Discount 3-day pass $16.

KID’S OBSTACLE RACE

SAT JULY 11 Kids 5 to 16 run through mud and over obstacles at Kids Obstacle Challenge at Lee Farms in Tualatin.

RUN THROUGH WINE COUNTRY

SUN JULY 12 Run the Fueled by Fine Wine Half-Marathon on vineyard trails through the beautiful Dundee Hills, and then taste wines at the post-race party.

ZOO CONCERTS

FRI-SUN JULY 10-12 (through Sept. 6) Oregon Zoo Summer Concerts feature world-class performers and include a same-day zoo pass.

MOVIES IN THE PARK

JULY – SEPTEMBER 11 Movies in the Park begin with entertainment at 6:30 followed by movies at dusk. Bring coats. Free.

PORTLAND’S RIVERS: CONTEMPORARY ART VIEWS

FRI-SUN JULY 10-12 (Ends July 11) This exhibit interprets Portland’s rivers and their influence on the city through paintings, prints and multimedia works. Pittock Mansion

GUIDED NATURE HIKES

FRI-SUN JULY 10-12 (every day, various times & locations) Park guides lead nature hikes to explore the forest, stream ecosystems and natural history of the natural area. Tryon Creek State Park & more

PORTLAND SATURDAY MARKET

SAT-SUN JULY 11-12 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

VANCOUVER FARMER’S MARKET

SAT-SUN JULY 11-12 You’ll discover fresh and local produce, flowers, plants, baked goods, delicious food, pet treats, and accessories for yourself, home, or garden. Over 250 Vendors! Downtown Vancouver, 8th & Ester St.

FARMER’S MARKET AT VANCOUVER MALL

SAT-SUN JULY 11-12 The newest open air farmers market in Vancouver, Washington. Offering local farmers, small businesses, specialty crafters & local food vendors the opportunity to enjoy the neighbors. Activities for the kids & live entertainment most weekends in the Westfield Mall parking lot near Macy’s.

TWILIGHT HALF MARATHON, 5K & 10K

SAT JULY 11 Nobody likes alarm clocks. That’s why the Twilight Half Marathon (July 11th, Vancouver Lake Park) starts at 6pm. Get a good night’s sleep, spend the day however you want, and run when it’s cool. The course is pancake flat, making for a fast, easy run…and maybe even a PR! http://www.twilighthalf.com/

SCIENCE IN THE PARK AT THE VANCOUVER WATER CENTER

SAT JULY 11 Everyone loves the annual Science in the Park series, so join us in celebrating it during Second Saturday at the Water Center! Kids and families will have fun with some of the most popular and favorite ‘Science in the Park’ hands-on activities.

ART & WINE FAIR

SAT-SUN JULY 11-12 Local Artists, Musicians & Wine at the English Estate Winery.

SATURDAY IN THE PARK PRIDE

SAT JULY 11 Saturday in the Park Pride is a free Gay Pride Event. This event is free and open to all!

VANCOUVER FRIDAY NIGHT MOVIES IN THE PARK

SAT JULY 10-AUG 14 Bring a lawn chair or blanket to the park and enjoy a movie on the big screen at our free family friendly movie nights! Come early and participate in pre-movie activities.

KID DIGS AT FORT VANCOUVER

SAT JULY 11 Kid Digs is a popular hands-on program introducing young people, ages 8 to 12 years old, to the fascinating world of archaeology at one of the Northwest’s most famous archaeological sites.

NEW MOVIES OUT THIS WEEK
Minions
• The Gallows
• Self/Less
• Boulevard
• Nowitzki: The Perfect Shot
• Do I Sound Gay?
• The Suicide Theory
• Tangerine

CLICK HERE TO VIEW THIS WEEK’S OPEN HOUSES


This Week in Real Estate: July 6, 2015

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This week marked the start of the second half of 2015 which begs the question: will the momentum of Q2 carry forward into Q3 and Q4? The Pending Home Sales Index suggests an affirmative yes to that question in This Week in Real Estate. Below are a few of the highlights from the first couple of days in July that influence our business:

* Price Gains Accelerating Again – Black Knight. Nationally the Home Price Index (HPI) is now within 7.6 percent of the peak value it reached in July 2006 of $268,000. Several states have already established new high-water marks for prices including Colorado and Texas which have done so nearly monthly for over a year. Among the largest metropolitan areas Austin, Dallas, Houston, and San Antonio all hit new peaks along with Columbus, Ohio, Denver, Honolulu, Nashville, San Francisco and San Jose. Both Boston and Portland, Oregon are now less than 0.75 percent away from doing so as well. Prices as measured by the HPI went up in every state from March to April, led by Washington with a 2.0 percent gain. Michigan and Colorado followed, each at 1.7 percent, Oregon at 1.6 percent, and both Minnesota and the District of Columbia at 1.3 percent. Full story… http://www.mortgagenewsdaily.com/06292015_black_knight_hpi.asp

* Pending Home Sales Continue Momentum. The Pending Home Sales Index increased for the fifth straight month to the highest level in over nine years. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors, increased .9% in May to 112.6, and climbed to 10.4% above the May level a year ago. It is now at its highest point since April 2006 when it hit 113.7. Regionally, the May PHSI increased 6.3% in the Northeast and 2.2% in the West. However, the May PHSI declined slightly by .6% in the Midwest and .8% in the South. Year-over-year, the PHSI was up 13% in the West, 10.6% both in the Northeast and South, and 7.8% in the Midwest. Full story… http://eyeonhousing.org/2015/06/pending-sales-continue-momentum/

* Housing Prices – Slowing to Sustainable Growth. The Federal Housing Finance Agency (FHFA) and the Standard and Poor’s/Case-Shiller recently released their respective home price indices for April. House prices have been recovering since reaching the bottom of the downturn in 2012. The annualized growth rate of the FHFA price index has been volatile month-to-month but provides a detailed measure of the pre-boom stability, boom period acceleration, subsequent collapse and recovery of prices. The post-crash growth rate reached a double digit peak in 2013, but has decelerated to more sustainable levels since then. The annual growth rate is 3.4% in April, comparable with the 4.1% in March and lower than the 8.6% in February. House prices reported by the Standard and Poor’s/Case-Shiller show the same dynamics as the FHFA index, sharply rising prices during the boom followed by steep declines and finally recovery beginning in 2012. Full story… http://eyeonhousing.org/2015/06/housing-prices-slowing-to-sustainable-growth/

* Cash Sales Fall to Six Year Low; Distressed Sales Plummet. Only one out of four single family home and condo sales in May – 24.6 percent – were all-cash purchases, down from 30.4 percent a year ago to the lowest level since November 2009. The cash sales share in May was close to its long-term average going back to January 2000 of 24.8 percent and well below its recent peak of 42.2 percent in February 2011. Distressed sales also fell to a new low of 10.5 percent of all sales in May, down from 18.3 percent a year ago to the lowest level since January 2011. “As housing transitions from an investor-driven, cash-is-king market to one more dependent on traditional buyers, sales volume has been increasing over the last few months and is on track in 2015 to hit the highest level we’ve seen since 2006,” said Daren Blomquist, vice president at RealtyTrac.
Full story… http://www.realtytrac.com/news/foreclosure-trends/may-2015-u-s-home-foreclosure-sales-report/

Have a productive week!

Jason


More great brokers have joined our team!

We are very proud to announce the following brokers have recently made the move to Berkshire Hathaway HomeServices Northwest Real Estate!

Please join us in giving them a warm welcome:

Victoria Balenger – Lake Oswego

Holly Calverley – Clark County Northwest

Mark Hill – West Portland

Todd Lyon – Bend

Jill Massinger – Mt. Scott / East Portland

John Richardson – Clark County Northwest

Dennis Carlson – Clark County Northwest

Dave McGowan – West Portland

Amy Fox – Newberg

Chase O’Byrne – Lake Oswego

George Parsons – Columbia Tech Center

If you would like to learn about the advantages of a career with Berkshire Hathaway HomeServices Northwest Real Estate, please click here or email careers@bhhsnw.com.