Portland Metro Weekend Event Planner: February 24-26, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
FOR FEBRUARY 24-26, 2017

 

PORTLAND SPRING HOME & GARDEN SHOW
THURS-SUN – For the latest ideas and products at show-only prices, don’t miss the largest home & garden event in the Northwest.

WURSTFEST
FRI-SAT – Celebrate Mount Angel’s German heritage at Wurstfest, where you will find the best handcrafted German sausages as well as local and German beers. Enjoy other great food, live German music, dancing, games and demonstrations.

BLACKOUT BEER FEST
SAT – Featuring 25 rotating dark beers, including porters, stouts, coffee beers and black IPAs, from Lompoc and more than 20 guest breweries from around the Northwest.

BREWSTILLERY FESTIVAL
SAT – Join over 35 breweries/distillery’s for the 3rd annual Brewstillery Festival.

POLAR PLUNGE
SAT – The Polar Plunge is a unique opportunity for individuals, organizations, and businesses to support Special Olympics Oregon athletes by jumping, walking or slowly crawling into the frigid and icy Oregon waters.

PORTLAND INTERNATIONAL FILM FESTIVAL
Through SAT – See over 140 international short films and feature films.

SWAN LAKE
Through SAT – The sublime transcendence of choreography that has been passed down generation after generation is unmatched, and the music of Tchaikovsky is never more attuned to the struggles of the heart than in this poignant work.

PORTLAND JAZZ FESTIVAL
Through SUN – Celebrating the collective of Jazz greats Dizzy Gillespie, Thelonious Monk, Buddy Rich and many more. Featuring 100 performances by jazz legends and local acts.

PORTLAND INTERNATIONAL FILM FESTIVAL
Through SAT – See over 140 international short films and feature films.

FOOD TRUCK FEBRUARY
Through TUES – 3rd annual Food Truck February at Pioneer Courthouse Square. Check out who’s there today!

FRIDAY DANCE PARTY
FRI – Giant music videos, colorful lights, and pounding music await you at the ’80s Video Dance Attack in Lola’s Room or McMenamins Crystal Ballroom for age 21+. Discount tickets $6 for two people.

FLASHBACK DANCE CRUISE
SAT – Gather your crew & rock your best retro threads from the 70’s, 80’s and 90’s! Get on the dance floor as our DJ’s play the hits of decades gone by.

SLEEPING BEAUTY
Through SUNThe Tale of Sleeping Beauty is one the world’s oldest and most revered fairy tales, and it has just been hijacked by a company of crazy bird puppets. Making their NWCT Mainstage debut, these feathered friends will stop at nothing in their quest to seize the spotlight and re-write history.

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

LANTERN TOUR: AN EVENING AT THE FORT
SAT – Visitors are treated to historical vignettes in each building as a park ranger guides them through the reconstructed fort.

WAITING IN THE WINGS
Through SAT – This rarely produced Noel Coward play, directed by Jaynie Roberts, is Magenta Theater’s first main stage production for the 2017 season.

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
·         Get Out
·         Rock Dog
·         Year by the Sea
·         Bitter Harvest
·         Erasing Eden
·         Fabricated City
·         Tulip Fever
·         Voodoo

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: February 21, 2017

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Favorable news This Week in Real Estate with respect to new construction permits as well as mortgage applications for new homes fuels optimism for this sector in the coming months. Below are a few highlights from the second week of February that influence our business:

* Commerce Department: Home-Building Down in January, but Permits Up. Home-building overall stalled in January, but more permits indicate construction will pick up in the months ahead. Single-family construction rose 1.9 percent in January to a rate of 823,000, up from 808,000 in December, according to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD). Privately-owned construction fell 2.6 percent to a rate of 1,246,000, down from 1,279,000 in December – though 10.5 percent higher than the January 2016 rate of 1,128,000. “Today’s reported decline in housing starts and completions weren’t statistically significant, but the big increase in permits was a good sign that we are on track for more much-needed new construction in the months to come,” says Joseph Kirchner, senior economist at realtor.com. “For the housing market as a whole, this means we are seeing a continuing increase in permitting and starts, but not yet completions,” Kirchner says. “Eventually, the permits will turn to starts and completions – the question is whether this will occur prior to the spring market.” Permits for privately-owned housing in January rose 4.6 percent from December to a rate of 1,285,000, an 8.2 percent increase from January 2016 – movement that lays the groundwork for future construction. The National Association of Home Builders anticipates a 10 percent increase in single-family construction in 2017, and a 12 percent increase in 2018.
Full Story… http://rismedia.com/2017/02/16/commerce-department-home-building-down-january-permits-up/?utm_source=newsletter&utm_medium=email&utm_campaign=eNews

* January New Home Purchase Mortgage Applications Increased 9.2 Percent Year Over Year. The Mortgage Bankers Association (MBA) Builder Application Survey data for January 2017 shows mortgage applications for new home purchases increased 9.2 percent compared to January 2016. Compared to December 2016, applications increased by 22 percent relative to the previous month. “As house prices continue to rise and inventories of homes available for sale remain low, it is not surprising that mortgage applications for new homes in January came in higher than a year ago,” said Lynn Fisher, MBA’s Vice President of Research and Economics. “Alongside relatively low supply, rising household incomes and favorable demographics should continue to bolster demand for new homes, despite rising interest rates, leading to modest growth in new home sales this year.” By product type, conventional loans composed 67.2 percent of loan applications, FHA loans composed 18.6 percent, RHS/USDA loans composed 1.1 percent and VA loans composed 13 percent.
Full Story…  https://www.mba.org/2017-press-releases/february/january-new-home-purchase-mortgage-applications-increased-92-percent-year-over-year

* New Single-Family Home Size Trends. After increasing and leveling off in recent years, new single-family home size continued along a general trend of decreasing size during the fourth quarter of 2016. This ongoing change marks a reversal of the trend that had been in place as builders focused on the higher end of the market during the recovery. According to fourth quarter 2016 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area was slightly higher at 2,453 square feet. Average square footage for new single-family homes increased to 2,661 square feet. Typical new home size falls prior to and during a recession as some home buyers tighten budgets, and then sizes rise as high-end homebuyers, who face fewer credit constraints, return to the housing market in relatively greater proportions.
Full Story… http://eyeonhousing.org/2017/02/new-single-family-home-size-trends/

Have a productive week!
Jason

 


Portland Metro Weekend Event Planner: February 16-19, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
FOR FEBRUARY 10-12, 2017

 

MUDDY TRAIL RUN
SAT-SUN Hagg Lake Mud Run is a 50K (31 miles) on Saturday and a 25K (15.5 miles) on Sunday around the lake, with awards and a meal afterward.

PORTLAND JAZZ FESTIVAL
Through February 26 – Celebrating the collective of Jazz greats Dizzy Gillespie, Thelonious Monk, Buddy Rich and many more. Featuring 100 performances by jazz legends and local acts.

MARDI GRAS BALL
SAT – It’s the most authentic Louisiana Mardi Gras Experience in the Pacific Northwest. Enjoy our costume contest, Mardi Gras Royalty, light taste of Louisiana cuisine, great music and lots of fun!

KIDFEST
SAT-SUNEntertainment stages, sports demo courts, inflatable fun zones, GameTruck, bubble soccer, laser tag, paint ball arena, stunt jump, BMX track, mechanical bull, cooking stage & Iron-Kid Chef Competition, character village & stage shows with super heroes & Disney princesses, Star Wars Blast-A-Trooper, petting zoo & Walk-On-The-Wildside exotic animals & reptiles, arcades, music, art, science and more. Daily deals from over 200 exhibitors on products & services for your family!

WIZARD WORLD COMIC CON
FRI-SUN – Meet some of your favorite TV characters, WWE stars and more! Comics, Sci-Fi, anime, fantasy, cosplay, fire show, party games—something for everyone!

ZWICKELMANIA
SAT – Beer enthusiasts rejoice, Oregon’s breweries open their doors once again for the 9th annual Zwickelmania.

A STREET CAR NAMED DESIRE
THURS-SUN – The play reveals to the very depths the character of Blanche du Bois, a woman whose life has been undermined by her romantic illusions, which lead her to reject—so far as possible—the realities of life with which she is faced and which she consistently ignores.

PORTLAND INTERNATIONAL FILM FESTIVAL
Through February 25 – See over 140 international short films and feature films.

FOOD TRUCK FEBRUARY
Through February 28 – 3rd annual Food Truck February at Pioneer Courthouse Square. Check out who’s there today!

FRIDAY DANCE PARTY
Through February 24 – Giant music videos, colorful lights, and pounding music await you at the ’80s Video Dance Attack in Lola’s Room or McMenamins Crystal Ballroom for age 21+. Discount tickets $6 for two people.

FLASHBACK DANCE CRUISE
SAT (February 18 & 25) – Gather your crew & rock your best retro threads from the 70’s, 80’s and 90’s! Get on the dance floor as our DJ’s play the hits of decades gone by.

SLEEPING BEAUTY
Through February 26The Tale of Sleeping Beauty is one the world’s oldest and most revered fairy tales, and it has just been hijacked by a company of crazy bird puppets. Making their NWCT Mainstage debut, these feathered friends will stop at nothing in their quest to seize the spotlight and re-write history.

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

LANTERN TOUR: AN EVENING AT THE FORT
SAT – Visitors are treated to historical vignettes in each building as a park ranger guides them through the reconstructed fort.

ARTS & CULTURE TOUR
SAT – Area writers and artists will display and sell their works from historical venues.

STORM CITY ROLLER GIRLS
SAT – Watch the hard-hitting action as Storm City battles it out on the track against the Northwest Derby Company.

WAITING IN THE WINGS
Through February 25 – This rarely produced Noel Coward play, directed by Jaynie Roberts, is Magenta Theater’s first main stage production for the 2017 season.

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
·         Fist Fight
·         The Great Wall
·         Ghost of New Orleans
·         A Cure for Wellness
·         Everybody Loves Somebody
·         Fanny’s Journey
·         In Dubious Battle
·         American Fable

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.


Sell your Home for More Money

Drastically increase the amount of money you make on the sale of your home with these eight easy tips.

1) Price it below market value.
List your home below the current market value; maybe even as much as 5-10%. As a homeowner, you may be reluctant to try this approach, but the results may surprise you. This can be highly effective, create a sense of urgency and drive in even more offers and buyers than you ever imagined.

2) Brighten up the bedroom.
Bring in as much natural light into the room as possible. If you can’t remember the last time you cleaned the windows in your house, now is the time–inside and out! Replace any burnt out light bulbs and bring in an extra lamp or two.

3) Clean out the closets.
Open up the closet doors, pull everything out, and get rid of 50% of the clutter. If winter has passed, pack away all of your winter clothes. When a buyer opens up the closet doors, they see the available closet space, and not an unorganized, overstocked storage area.

4) Paint the front door.
Don’t let an old, weathered door be a buyer’s focal point. Painting the front door can make a home feel more welcoming. By carefully choosing the right color, you can unexpectedly make your house stand out from the rest.

5) Enhance the landscaping.
To help give your home a boost in curb appeal, spruce up the landscaping around the front of your home. By carefully planning and doing your homework, you can achieve a nice upgrade on a small budget.

6) Stain the deck and driveway.
Staining your deck and driveway is a cost effective way to prolong the life of an area that takes a beating from the weather and heavy foot traffic. It will let the buyer know your home is properly maintained.

7) Paint the walls a neutral color.
Don’t let the color of your walls be the focal point of a room. It will be easier for a buyer to relate to a neutral wall color, and they won’t be distracted by a room that is bold or too loud.

8) Make kitchen improvements.
Kitchen improvements can yield high returns if done properly. Popular upgrades include resurfacing or replacing kitchen cabinets, adding a new backsplash, or replacing outdated countertops.

Article courtesy of garrettsrealty.com


This Week in Real Estate: February 13, 2017

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Consumer confidence was the theme of the week This Week in Real Estate as Gallup’s Economic Confidence Index hit a new high in January, and unemployment claims near a 43-year low. Below are a few highlights from the first full week of February that influence our business:

* Swift Gains in Fourth Quarter Push Home Prices to Peak Levels in Majority of Metro Areas. The best quarterly sales pace of the year pushed available housing supply to record lows and caused price appreciation to slightly speed up in the final three months of 2016, according to the latest quarterly report by the National Association of Realtors. For all of 2016, an average of 87 percent of measured markets saw increasing home prices, up from the averages in 2015 (86 percent) and 2014 (75 percent). Of the 150 markets NAR has tracked since 2005, 78 (52 percent) now have a median sales price at or above their previous all-time high. In the West, existing-home sales rose 1.6 percent in the fourth quarter and are 9.1 percent above a year ago. The median existing single-family home price in the West increased 7.8 percent to $348,800 in the fourth quarter from the fourth quarter of 2015.
Full Story… https://www.nar.realtor/news-releases/2017/02/swift-gains-in-fourth-quarter-push-home-prices-to-peak-levels-in-majority-of-metro-areas

* U.S. Jobless Claims Near 43-Year Low. The number of Americans filing for unemployment benefits unexpectedly fell last week to near a 43-year low, amid a further tightening of the labor market that could eventually spur faster wage growth. Other data on Thursday showed inventories at wholesalers surged in December for a second straight month and sales recorded their biggest increase since 2011, signs of confidence in the economy as domestic demand strengthens. Claims have now remained below 300,000, a threshold associated with a strong labor market, for 101 straight weeks. That is the longest stretch since 1970, when the labor market was much smaller. The labor market is at or close to full employment, with the unemployment rate at 4.8 percent after hitting a more than nine-year low of 4.6 percent in November.
Full Story…  http://www.reuters.com/article/us-usa-economy-unemployment-idUSKBN15O1MF?feedType=RSS&feedName=topNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FtopNews+%28News+%2F+US+%2F+Top+News%29

* US Economic Confidence Index Hit New High in January. American’s confidence in the U.S. economy remained strong in January. Gallup’s U.S. Economic Confidence Index averaged +11, the highest monthly average in Gallup’s nine-year trend. Some of January’s three-day averages also marked new highs in Gallup’s tracking since 2008. The index peaked at +19 for the January 21 – 23 three-day average. Gallup’s U.S. Economic Confidence Index is the average of two components: how Americans rate current economic conditions and whether they feel the economy is improving or getting worse.
Full Story… http://www.gallup.com/poll/203510/economic-confidence-index-hit-new-high-january.aspx?utm_source=tagrss&utm_medium=rss&utm_campaign=syndication

Have a productive week,
Jason


Portland Metro Weekend Event Planner: February 10-12, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
FOR FEBRUARY 10-12, 2017

 

VALENTINE’S HIGH TEA
SAT – Featuring tasty teas, sandwiches, scones, tiny desserts, a silent auction, raffle, live orchestral music, and a photo booth. Funds raised will go to the heritage sites in the Fairview, Rockwood and Wilkes areas of East Multnomah County.

VALENTANGO
WED-MON – 8,000 square feet of dance floors, 51 classes for all levels, 14 instructors, 14 DJ’s, two performance nights and so much more!

MY MUDDY VALENTINE
FRI-SAT – A Valentine’s event with lots of mud, fun, and semi-challenging obstacles, food, drinks, music, bonfires and much more!

MORTIFIED LIVE: DOOMED VALENTINE’S SHOW
SAT – Witness a night of adults telling stories about their lives by sharing their most mortifying childhood artifacts (diaries, letters, lyrics, poems, home movies) in front of total strangers.

WINE & CHOCOLATE PAIRING 2017
SATHip Chicks do Wine and Rose City Sweets pair five of their hand-crafted truffles and chocolate with five of their favorite wines.

PACIFIC NW SPORTSMEN’S SHOW
WED-SUNLargest sportsmen’s show west of the Mississippi and undoubtedly the region’s most anticipated annual event for outdoor adventurers and sportsmen of all ages.

WORST DAY OF THE YEAR RIDE
WED-SUN – Regardless of the weather, thousands of fun-loving cyclists grab their friends, don their costumes, and gather to ride their bikes and wave their silly flags.

PORTLAND INTERNATIONAL FILM FESTIVAL
Through February 25 – See over 140 international short films and feature films.

NORTHWEST FAMILY & KIDS FESTIVAL
FRI-SUN – Offering an incredible amount of ideas for kids and families ranging from: entertainment, education, nutrition, health care, vacations, home improvements, and much more!

FOOD TRUCK FEBRUARY
Through February 28 – 3rd annual Food Truck February at Pioneer Courthouse Square. Check out who’s there today!

CHINESE NEW YEAR
Through February 12 – Learn more about Chinese New Year, the most colorful and joyous of all Chinese festivals during Lan Su’s two-week celebration. Lion dances, cultural performances, martial arts, calligraphy, family-friendly craft activities, and much more!

PORTLAND CENTER STAGE, ASTORIA: PART 1
Through SUN – A World Premiere! This monumental piece of American history will be told in two parts over the course of two seasons. Part One is about the journey to Astoria and Part Two is about the establishment of Astoria, the first permanent United States settlement on the West Coast.

FRIDAY DANCE PARTY
Through February 24 – Giant music videos, colorful lights, and pounding music await you at the ’80s Video Dance Attack in Lola’s Room or McMenamins Crystal Ballroom for age 21+. Discount tickets $6 for two people.

SLEEPING BEAUTY
Through February 26The Tale of Sleeping Beauty is one the world’s oldest and most revered fairy tales, and it has just been hijacked by a company of crazy bird puppets. Making their NWCT Mainstage debut, these feathered friends will stop at nothing in their quest to seize the spotlight and re-write history.

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

2017 SWEETHEART DANCE
SAT – Period dress from the 1940s and Class “A” uniforms are most welcome, but not required. Music for the 2017 Sweetheart Hangar Dance will be provided by the VanPort Jazz Band.

VALENTINE’S DAY WEEKEND WINE & CHOCOLATE PAIRING
SAT-SUN – Skip the traffic and stay local for Valentine’s Day. Join your participating Southwest Washington wineries for a weekend of Wine and Chocolate. Participating wineries include Emanar Cellars, Heisen House Vineyards, Olequa Cellars, Pomeroy Cellars, Koi Pond Cellars, Rezabek Vineyards, Stavalaura Vineyards, English Estate Winery, and Burnt Bridge Cellars.

VALENTINE’S CHOCOLATE & WINE TASTING AT RUSTY GRAPE
SAT-SUN – Bring your special someone to enjoy a fleet of wine and delicious chocolates.

WAITING IN THE WINGS
Through February 25 – This rarely produced Noel Coward play, directed by Jaynie Roberts, is Magenta Theater’s first main stage production for the 2017 season.

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
·         Fifty Shades Darker
·         The Lego Batman Movie
·         John Wick: Chapter 2
·         I am Jane Doe
·         Don’t Hang Up
·         Havenhurst
·         Running Wild
·         A United Kingdom

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: February 5, 2017

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CoreLogic released data This Week in Real Estate that suggests the real estate market has completely recovered from the “boom-bust” cycle that started a dozen years ago. In other news this week, the Federal Reserve decided not to increase the federal funds rate. Below are a few highlights from the last week of January and the first few days of February that influence our business:
 
* Case-Shiller: Housing Market Now Officially, Completely Recovered. According to the latest data released Tuesday by S&P Dow Jones Indices and CoreLogic, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. census divisions, increased 5.6% annually. “With the S&P CoreLogic Case-Shiller National Home Price Index rising at about 5.5% annual rate over the last two-and-a-half years and having reached a new all-time high recently, one can argue that housing has recovered from the boom-bust cycle that began a dozen years ago,” said David Blitzer, S&P Dow Jones Indices managing director and chairman of the Index Committee. “The recovery has been supported by a few economic factors: low interest rates, falling unemployment, and consistent gains in per-capita disposable personal income.” Seattle, Portland, and Denver reported the highest annual gains among the top 20 cities for each of the past 10 months.
 
* U.S. Distressed Sale Share Drops to Nine-Year Low in 2016, U.S. Home Sellers in 2016 Realized Biggest Average Profits Since 2007, 44% of Markets Reached New All-Time Home Price Peaks in 2016. ATTOM Data Solutions released its Year-End 2016 U.S. Home Sales Report on Thursday, which shows 16.2 percent of single family home and condo sales in 2016 were distressed sales – bank-owned sales, short sales or foreclosure auctions – down from 18.8 percent of all sales in 2015 to the the lowest level since 2007. “The housing market hit several important milestones in 2016, with distressed sales at a nine-year low and home prices at a 10-year high, just barely below the pre-recession peak in 2006,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. “This was all good news for home sellers, who realized their biggest average profits since purchase nationwide in 2016. Even distressed property sellers are benefitting from this hot seller’s market, with a record-high share of homes at foreclosure auction being purchased by third-party buyers rather than reverting back to the foreclosing bank.” Homeowners who sold in 2016 realized an average home price gain since purchase of $38,206, which translated into an average 21 percent gain since purchase, up from an average 13 percent gain in 2015 to the highest since 2007, a nine-year high. Among 201 Metropolitan statistical areas with a population of at least 200,000 and sufficient home price data, 89 metro areas (44 percent) reached new all-time home price peaks in 2016. Nationwide home sales to all-cash buyers represented 28.3 of all home sales in 2016, the lowest level since 2007 – a nine-year low.
 
* Federal Open Market Committee January/February Meeting – No News is Good News. The Federal Open Market Committee (FOMC), the monetary policy arm of the Federal Reserve System, concluded its two-day meeting and released a statement announcing no change in the target range for the federal funds rate. The current 50-75 basis point range was expected to be maintained following this first meeting since the December meeting, at which the target range for the funds rate was raised for only the second time since the financial crisis. The pace of rate increases is expected to accelerate. Among FOMC participants, the median projection of the “appropriate” level for the funds rate indicates three rate increases by the end of 2017. The CME Group’s FedWatch Tool indicates the FOMC meeting in June is currently the most popular bet for the next increase. With payroll gains steady, the unemployment rate below 5% and inflation grudgingly moving toward the Fed’s 2% target, economic conditions are right for a faster pace for monetary policy normalization, but the mantras of “only gradual increases” and “below levels expected to prevail in the longer run” still apply. 

Have a productive week,
Jason


Portland Metro Weekend Events Planner: Feb.3-5, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
FOR FEBRUARY 3-5, 2017

 

CHINESE NEW YEAR
Through February 12 – Learn more about Chinese New Year, the most colorful and joyous of all Chinese festivals during Lan Su’s two-week celebration. Lion dances, cultural performances, martial arts, calligraphy, family-friendly craft activities, and much more!

SEAFOOD & WINE FESTIVAL
FRI-SAT – Enjoy some of Oregon’s best wines while indulging in all the fresh coastal seafood and culinary delights. Fun for the whole family with face painters, balloon artists, and more!

PSYCHEDELICSTONEROCKMICROFEST
FRI-SAT – While psychedelic music covers a range of styles and genres, it is inspired by psychedelic culture and the attempt to replicate the mind altering experiences that started in mid-’60s folk rock and blues. Sabertooth celebrates the historical role the Crystal Ballroom played through previous half-century of psychedelic music.

HO-IKE
SAT – An authentic showcase of Hawaiian culture, food and a night of hula performances. Proceeds raised, combined with sponsorships received, are used towards giving back to the community by way of engaging workshops, a Hawaiian summer camp for keiki.

RAPTOR ROAD TRIP
SAT – Enjoy guided bird viewing, meet live raptors, and see hawk identification displays. Free hot drinks and donuts in the morning.

PORTLAND CENTER STAGE, ASTORIA: PART 1
Through February 12 – A World Premiere! This monumental piece of American history will be told in two parts over the course of two seasons. Part One is about the journey to Astoria and Part Two is about the establishment of Astoria, the first permanent United States settlement on the West Coast.

FILM & MUSIC FESTIVAL
Through SUN – Reel Music Festival screens new films and timeless classics with a music theme at Portland Art Museum.

FRIDAY DANCE PARTY
Through February 24 – Giant music videos, colorful lights, and pounding music await you at the ’80s Video Dance Attack in Lola’s Room or McMenamins Crystal Ballroom for age 21+. Discount tickets $6 for two people.

SLEEPING BEAUTY
Through February 26The Tale of Sleeping Beauty is one the world’s oldest and most revered fairy tales, and it has just been hijacked by a company of crazy bird puppets. Making their NWCT Mainstage debut, these feathered friends will stop at nothing in their quest to seize the spotlight and re-write history.

MURDER MYSTERY
Through February 8 – Based on a novel by Agatha Christie, Murder on the Nile is a whodunit set on a honeymoon cruise down the Nile River at Lakewood Center for the Arts in Lake Oswego. Discount tickets $16.

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

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.

FIRST FRIDAY DOWNTOWN
FRI – Participating art galleries, merchants, and restaurants open their doors to celebrate opening night of various art exhibits. Live music and citywide receptions welcome all in downtown Vancouver!

CAMAS FIRST FRIDAY
FRI – “A Chocolate Affair to Remember.” Held in charming, historic downtown Camas and hosted by the DCA and the downtown merchants, Camas First Fridays are monthly themed passport events featuring games, art, dining, and after hours shopping.

NEW MOVIES OUT THIS WEEK
·         The Space Between Us
·         Eloise
·         Don’t Knock Twice
·         Bunyan & Babe
·         The Grace of Jake
·         Rings
·         Wheeler
·         The Comedian

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.


10 Small Towns in Oregon That Are Great to Call Home

People may want to visit Oregon for its bigger cities, like Portland, but they want to live in Oregon for its smaller towns. No doubt due to the charm they all possess. Residents will gladly tell you that their town is the best, but in reality, all of Oregon’s smaller communities would be lovely to live in. Here are ten small towns in Oregon that are great to call home.

10. Lexington

Lexington Oregon

Located n Morrow County, Lexington is home to around 300 people. Named after the town of Lexington in Kentucky, it is best known for sheep and cattle ranching along wth wheat farming. You’ll find this small town between the Columbia River and the Blue Mountains, along Oregon Route 74.

9. Riverside

riverside golf club

With a population of around 200, Riverside is a tiny town in Umatilla County. It is part of the Pendleton-Hermiston Micropolitan Statistical Area, with a total area of 0.6 square miles. The quiet of this peaceful place is a welcome change from the big cities located across the state.

8. Kirkpatrick

Also located in Umatilla County, and with a population of around 200, Kirkpatrick is another calm and undisturbed town to call home. The best part about living in Kirkpatrick is the tight-knit community, where everyone knows one another and helps each other out.

7. Idaville

idaville

The unincorporated community of Idaville is located in Tillamook County. Located on the coast, yet still in close proximity to Portland, it’s a great escape from the hustle and bustle without venturing too far away from the city.

6. Imbler

imbler oregon

Imbler is a city in Union County, just outside of Summerville along Oregon Route 82, with a population of about 300. Picturesque and serene, the mountain views and long stretches of land make Imbler a beautiful place to call home.

5. Rivergrove

river grove

With a population of about 400, Rivergrove is located in Clackamas County and Washington County. It has become a desired place to live in the past few years due to its forested setting and large residential lots.

4. Barlow

barlow oregon

Also located in Clackamas County, Barlow is a small town with a population of only around 150. The railroad was built through Barlow, and the main line of the Union Pacific Railroad still runs through the community. It has a total area of only 0.05 square miles.

3. Wasco

Wasco

Wasco is a city in Sherman County, with a population of around 400. The agricultural and wind power industries are prominent around Wasco and the region boasts a warm-summer Mediterranean climate. The Wasco State Airport is one mile east of this small town.

2. St. Paul

St paul rodeo

Located in Marion County, St. Paul has a population of about 450, and is part of the Salem Metropolitan Statistical Area. The St. Paul Rodeo has been held here every 4th of July since 1935, and the St. Paul Historic District was listed on the National Register of Historic Places.

1. Jeffers Garden

jeffers garden

With a population of about 400, Jeffers Garden is a small unincorporated community in Clatsop County, on the Lewis and Clark River. It’s one of the most charming and quaint places in the whole state and boasts beautiful sunsets every single day.


This Week in Real Estate: January 30, 2017

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The National Association of Realtors reported This Week in Real Estate that 2016 recorded the highest number of existing-home sales since 2006. Below are a few highlights from the fourth week of January that influence our business:

* Consumer Confidence Hits Highest Level in 12 Years. Consumers are now more confident in the economy than they have been in the previous 12 years. The Index of Consumer Sentiment increased 0.3% from December to 98.5 in January. This marks an increase of 7.1% from January of last year. “Consumers expressed higher level of confidence January than any other time in the last dozen years,” Surveys of Consumers Chief Economist Richard Curtin said. “The post-election surge in confidence was driven more a more optimistic outlook for the economy and job growth during the year ahead as well as more favorable economic prospects over the next five years.” “Consumers also reported much more positive assessments of their current financial situation due to gains in both incomes and household wealth, and anticipated the most positive outlook for their personal finances in more than a decade,” Curtin said. The Index of Consumer Expectations also increased by 0.9% from last month’s 89.5 and up 9.2% from 82.7 last year to 90.3 in January.

Full Story… http://www.housingwire.com/articles/39057-consumer-sentiment-hits-highest-level-in-12-years?eid=322520585&bid=1648380

* 2016 Sales Best Since 2006. Existing-home sales had a banner 2016, amounting to 5.45 million sales and surpassed the 5.25 million sales in 2015 as the highest since 2006 (6.48 million), according to the National Association of Realtors (NAR). “Solid job creation throughout 2016 and exceptionally low mortgage rates translated into a good year for the housing market,” says NAR Chief Economist Lawrence Yun. “The inventory of homes for sale fell to the lowest level in the 17 years for which data is available,” Nationwide Chief Economist David Berson said. “Looking at just single-family sales, the inventory of home for sale dropped to the second lowest level in the nearly 34 years for which data is available.” “This low level of inventories has two significant impacts: it reduces the number of sales as there are fewer homes to be purchased and it pushes up re-sale prices, with the median sales price of existing homes sold up by 5.5% in 2016 – the fifth consecutive year in which prices rose by more than 5%,” Berson said. “Given current population and economic growth trends, housing starts should be in the range of 1.5 million to 1.6 million completions and not stuck at recessionary levels. More needs to be done to address the regulatory and cost burdens preventing builders from ramping up production,” Yun said.

Full Story…  https://www.nar.realtor/news-releases/2017/01/existing-home-sales-slide-in-december-2016-sales-best-since-2006

* Sold Out: These 10 U.S. Cities Have The Biggest Housing Shortages. Increasingly across the U.S., there just aren’t enough homes being listed to meet demand. For the past 28 months, the housing market has been defined not just by demand, but also by the shrinking number of available homes for sale. First-time buyers are especially hard hit as housing shortages drive up prices. Realtor.com recently took a look at the 150 largest housing markets in the U.S., studying the proportion of homes available for sale in each city. These numbers were then compared to 2015-2016 percentages. Half of the top 10 lowest inventory markets are concentrated on the West Coast, with the other half composed mostly mid-sized midwestern cities. “More than two-thirds of the markets are seeing less inventory now compared to a year ago,” said Jonathan Smoke, chief economist at Realtor.com. Seattle took the cake with just 0.4 percent of the city’s homes up for sale, a decrease of 13.4 percent from 2016. Eugene, Oregon is next on the list with just 0.6 percent of homes on the market at an inventory decrease of 27.3 percent from last year. Sacramento, Portland and Santa Rosa also broke the top 10.

Full Story… http://www.realtor.com/news/trends/top-10-housing-markets-constrained-by-tight-inventory/?aid=11921783&pid=7597981&cid=aff_cj_rdcandrental_allaffiliates_cj

Have a productive week,
Jason


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