This Week in Real Estate: October 16, 2017

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The Consumer Sentiment Index for early October was released This Week in Real Estate, reaching its highest level since the start of 2004. Below are a few highlights from the second week of October that influence our business:

* Lot Values Stable at Record High. Single-family lot prices remained at record high levels in 2016, with half of the lots priced at or above $45,000. According to NAHB’s analysis of the Census Bureau’s Survey of Construction (SOC) data, the median lot value reached $45,000 for the first time in 2015 exceeding the previous record of $43,000 reached in 2006. The Pacific division where densities are high and developed land is scarce has the smallest lots. However, high regulatory costs push the median lot value to $78,900, the second most expensive value in the nation. The lot values here are fast approaching the housing boom levels, when half of the lots were priced at above $82,000. The Pacific division lots also stand out for being most expensive in the nation in terms of per acre costs.
Full Story… http://eyeonhousing.org/2017/10/lot-values-remain-record-high-in-2016/

* Consumer Confidence Soars to Highest Level Since 2004. Consumer confidence crushed expectations in October, flying by a seven-month high hit in August. The consumer sentiment index, a survey of consumers by The University of Michigan, rose to 101.1 in October, far ahead of the 95 economists polled by Reuters anticipated. “Consumer sentiment surged in early October, reaching its highest level since the start of 2004,” Richard Curtin, chief economist for the Surveys of Consumers, said in a statement. Curtin noted that current trends indicated consumer spending continuing to expand through the middle of next year. He says, if that pace continues, it would mark the second longest expansion period since the mid-1800s. The economist says October’s numbers reflect “an unmistakable sense among consumers that economic prospects are now about as good as could be expected.”
Full Story… https://www.cnbc.com/2017/10/13/october-us-consumer-sentiment.html?__source=mnd%7Cnews%7C&par=mnd

* Serious Delinquency Rate for Home Loans Holds Steady at a Near 10-Year Low. CoreLogic released its month Loan Performance Insights Report on Tuesday which shows that, nationally, 4.6 percent of mortgages were in some stage of delinquency (30 days or more past due including those in foreclosure) in July 2017. This represents a 0.9 percentage point year-over-year decline in the overall delinquency rate compared with July 2016 when it was 5.5 percent. As of July 2017, the foreclosure inventory rate, which measures the share of mortgages in some stage of the foreclosure process, was 0.7 percent, down from 0.9 percent in July 2016 and the lowest since the rate was also 0.7 percent in July 2007. “While the U.S. foreclosure rate remains at a 10-year low as of July, the rate across the 100 largest metro areas varies from 0.1 percent in Denver to 2.2 percent in New York,” said Dr. Frank Nothaft, chief economist for CoreLogic. “Likewise, the national serious delinquency rate remains at 1.9 percent, unchanged from June, and when analyzed across the 100 largest metros, rates vary from 0.6 percent in Denver to 4.1 percent in New York.”
Full Story… http://www.corelogic.com/about-us/news/corelogic-reports-serious-delinquency-rate-for-home-loans-holds-steady-at-a-near-10-year-low.aspx

Have a productive week!

Jason


Portland Metro Weekend Events Planner: October 13-15, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
OCTOBER 13-15, 2017

PORTLAND FALL HOME SHOW
THURS-SUN – Filled to the brim with great home products and ideas. If you are searching for experts, remodeling pros or even that gardening or landscaping guru, this is the fall show for you.

PORTLAND VEGFEST
SAT-SUN – Celebrates plant-based living with free food samples, health and nutrition speakers, chef demonstrations, Fitness Stage workouts, restaurants, films, and activities for kids and teens. There’s something for everyone!

PORTLAND GEM AND MINERAL SHOW
FRI-SUN – Over 45 dealers from all regions, 80 exhibits of different rocks, minerals, fossils and more. Plus interactive demonstrations in beading, wire wrapping, faceting and stone carving.

TATTOO EXPO
FRI-SUN – Over 300 top tattoo artists and vendors from across the United States.

GREAT ONION FESTIVAL
SAT – Over 35 vendors, onion contests including onion rolling, onion eating, stinkiest breath and Best Dang Onion Dish. A full day of family fun with kids activities and entertainment stage.

CIDER AND BEER PRO/AM
SAT – Portland’s most unique beer festival! 32 home brewers partner with established pro brewers to create and debut 32 brand new beers and ciders with witty names. Taste all the new brews and vote for your favorite, all while enjoying the experience of an intimate but lively event.

ARTISTS AT WORK
SAT-SUN – A self-guided tour that will take you through 100 Portland artists studios.

FIND A PUMPKIN PATCH NEAR YOU

ALL MONTH – Various locations in the Portland Metro.

FRIGHT TOWN
Through October 31Three haunted houses in one location!

VILLIANS & VIXENS
Through Sun – A musical cabaret with new songs, new villains, and plenty of spooktacular surprises! Start the Halloween season off right, with a night of mischief, mayhem, and manically marvelous music.

HAUNTED PUB TOUR
Through October 31 – Uncover Portland’s dark side on this spine-tingling walking tour and hear first-hand accounts of paranormal encounters – all while sampling 6 local beers!

HALLOWEEN FANTASY TRAIL
Through October 30 – Walk through a lighted, wooded, “Fantasy Trail” decorated with spooky sights and sounds. Walk through a 40 foot castle with Halloween scenes, a tunnel, maze, crooked house, suspension bridge and more.

13TH DOOR HAUNTED HOUSE
Through November 4 – Enter at your own risk as you embark these dank endless hallways and unhallowed grounds, demented creatures and the spirits that have crossed over, consuming those who have entered before you.

PHANTOM
Through Sun – This mesmerizing Phantom is traditional musical theatre in the finest sense. The Tony award winning authors of Nine have transformed Gaston Leroux’s The Phantom of the Opera into a sensation that enraptures audiences and critics with beautiful songs and an expertly-crafted book. It is constructed around characters more richly developed than in any other version, including the original novel.

CABARET
Through Sun – Northwest-acclaimed Director, Ron Daum, continues Lakewood Theater Company’s 65th season with the audience-favorite production of Cabaret. Take your seat at the “perfectly marvelous” Kit Kat Klub in Kander and Ebb’s Tony-winning musical about cabaret performer Sally Bowles and American writer Cliff Bradshaw during the pre-WWII decadence of 1930s Berlin.

80’S VIDEO DANCE ATTACK
FRI – 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

 

CLARK COUNTY SCAREGROUNDS
Through October 29 – Featuring haunted houses, carnival rides & games, all-ages attractions & special events, dozens of Midway vendors, food & dining, walkaround characters, and so much more!

DINE THE COUVE
Through October 31 – Foodies and beer drinkers unite! For the entire month of October, original Vancouver USA eateries, breweries, and taprooms will serve up some special items. View participating restaurants here.

GHOST WALKS

FRI-SUN through October 29 – Stories have grown up about the Vancouver Barracks, stories of loneliness, fear and tragedy, all part of the darker aspects of military life. Whether you believe in ghosts or not, you will be interested in the stories of the Vancouver Barracks’ past inhabitants.

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 October 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
THURS – 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

· Goodbye Christopher Robin
· 6 Below: Miracle on the Mountain
· Breathe
· The Foreigner
· Professor Marston & The Wonder Women
· Happy Death Day
· Swing Away
· Blood Money
· The Secret Scripture
· American Satan

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: October 9, 2017

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ATTOM Data Solutions released it’s Q3 Home Affordability Index This Week in Real Estate concluding that the index reached it’s lowest point since Q3 2008. Below are a few highlights from the first week of October that influence our business:

* Home Affordability Improves in 60% of U.S. Markets in Q3 2017 Compared to Previous Quarter. ATTOM Data Solutions released its Q3 2017 U.S. Home Affordability Index Thursday, which shows that home affordability in the third quarter improved compared to the previous quarter in 60 percent of 406 U.S. counties analyzed in the report — although affordability was still worse off than a year ago in 79 percent of those counties. The national home affordability index was 100 in the third quarter of 2017, the lowest national affordability index since Q3 2008, when the index was 86. An index of 100 means the share of average wages needed to buy a median-priced home nationwide in Q3 2017 is on par with historic averages (see full methodology below). “Falling interest rates in the third quarter provided enough of a cushion to counteract rising home prices in most U.S. markets and provide at least some temporary relief for the home affordability crunch,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. “More sustainable relief for the affordability crunch, however, will need to be some combination of slowing home price appreciation and accelerating wage growth. Wage growth is outpacing home price growth in about half of all local markets so far this year, an indication that a more sustainable affordability pattern is taking shape in more local markets.”
Full Story… https://www.attomdata.com/news/affordability/q3-2017-u-s-home-affordability-index/

* Fastest Growing Cities in America. Frisco is the fastest-growing city in America. No, not THAT Frisco with the incessant fog and Golden Gate Bridge. The Dallas suburb scored No. 1 on WalletHub’s list of fastest-growing cities in America due to its rapid job and population growth. To compile the ranking, WalletHub analysts compared 515 cities of varying population sizes based on 15 key measures of both growth and decline, such as population, unemployment rate and regional GDP per capita over a period of seven years. WalletHub’s10 fastest-growing cities in America: (1) Frisco, TX, (2) Kent, WA, (3) Lehigh Acres, FL, (4) Meridian, ID, (5) Midland, TX, (6) McKinney, TX, (7) Fort Meyers, FL, (8) Bend, OR, (9) Austin, TX and (10) Pleasanton, CA.
Full Story… http://www.marketwatch.com/story/these-are-the-fastest-growing-cities-in-america-2017-10-03?dist=realestate

* Lot Size is at a New Record Low. The median lot size of a new single-family detached home sold in 2016 stands at 8,562 square feet, or just under one-fifth of an acre. This is a new record low and a small decline since 2015, when the median lot size fell under 8,600 square feet for the first time since Census Bureau’s Survey of Construction (SOC) started tracking the series for single-family detached homes. While nation’s lots are getting smaller on average, the regional differences in lot sizes persist. Looking at single-family detached speculatively built (or spec) homes started in 2016, the median lot size in New England is almost twice as large as the national median and exceeds a third of an acre. The East South Central Division is second on the list with the median lot occupying just slightly less than a third of an acre (0.3 acres). The Pacific division where densities are high and developed land is scarce has the smallest lots, with half of the lots being under 0.15 acres.
Full Story… http://eyeonhousing.org/2017/10/lot-size-is-at-a-new-record-low/

 

Have a productive week!

Jason


This Week in Real Estate: October 2, 2017

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This Week in Real Estate, according to the recently released Financial Accounts of the United States, published by the Federal Reserve Board of Governors, the market value of owner-occupied real estate reached $23.8 trillion in the second quarter, up $7.8 trillion since 2011. Below are a few highlights from the last week of September that influence our business:

* Homeowner’s Equity Continues to Improve. Households’ owner-occupied real estate increased to $23.8 trillion in the second quarter of 2017, $1.597 billion more than the second quarter of 2016. Total home mortgage debt outstanding stands at $9.9 trillion, $250 billion more than the same period of 2016. Since 2011, the market value of households’ real estate has rebounded. In the second quarter of 2017, it was $23.8 trillion, $7.8 trillion higher than six years ago. Mortgage debt barely changed over the past six years and has remained at $9.9 trillion. Thus, the value of owners’ equity in real estate rose by $7.8 trillion reflecting the increase in the market value of households’ real estate.
Full Story… http://eyeonhousing.org/2017/09/homeowners-equity-continues-to-improve/

* Green Home Building Continues to Gain Traction. Green construction is rapidly gaining traction among both single family and multifamily home builders, according to new research published in the Green Multifamily and Single Family Homes 2017 SmartMarket Brief. At least one third of single family and multifamily builders who were surveyed said that green building is a significant portion of their overall activity (more than 60 percent of their portfolio). By 2022, this number should increase to nearly one half in both the single family and multifamily sectors. Within this group, nearly 30 percent of multifamily builders fall into the category of “dedicated” green builders (more than 90 percent of their portfolio). On the single family side, the percentage of “dedicated” green builders is nearly 20 percent, but that share is expected to grow sizably by 2022. Increasing energy efficiency continues to be the most common method of improving the performance of a green home, followed by creating a healthy indoor living environment.
Full Story… http://www.prnewswire.com/news-releases/study-finds-green-home-building-continues-to-gain-traction-300526537.html

* Don’t Give Up, Buyers: More Newly Constructed Homes Are On The Way. Permits, the best indicator of how many newly built homes will rise over the next few months, were up in August, according to the seasonally adjusted numbers in the latest residential sales report jointly released by the U.S. Census Bureau and U.S. Department of Housing and Urban Development. Builders were issued 5.7% more permits from July to August and 8.3% more than August 2016. The bulk of those increased permits were to put up condo and apartment buildings with five or more units. Meanwhile, the number of permits for those perennially in-demand single-family homes—the typical standalone abodes that usually come with yards— dipped 1.5% from July. But they were up 7.7% over August 2016.
Full Story… https://www.realtor.com/news/real-estate-news/new-home-construction-august-2017/

Have a productive week!

Jason


Portland Metro Weekend Events Planner: September 27-October 1, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
FOR SEPTEMBER 29-OCTOBER 1, 2017

PORTLAND CREATIVE CONFERENCE
FRI – An exploration and celebration of the creative process across all creative industries. We feature keynote presentations by leading creatives who take you inside their creative process, show their work, and talk about their projects, problems, influences and inspirations. Speakers include experts from fields such as filmmaking, visual effects, virtual reality, acting, apparel design, writing, design and advertising, and comic books.

PORTLAND JUGGLING FESTIVAL
FRI-SUN – Three days of special guests, workshops, vendors, open juggling, and juggling games. Plus the Juggling & Vaudeville Extravaganza show.

PORTLAND FRESH HOPS FEST
FRI-SAT – Featuring Oregon craft beers that are made with fresh hops, picked off the vine and used within hours of harvesting. A home brew demonstration will be held on Saturday.

WIDMER OKTOBERFEST
SAT – A beer lover’s paradise with all of your favorite Widmer brews and musical guest Nathaniel Rateliff & the Night Sweats.

MCMENAMINS OKTOBERFEST 

Through October 7 – Beer, music, more beer, bratwurst and hamburgers, and more. Check out our participating locations.   

NORTHWEST QUILTING EXPO
THURS-SAT – Featuring an outstanding group of talented instructors, gorgeous quilts and exhibits, great vendors and more for our 17th annual show!

AUSSIE CHEF MEETS AMERICAN BARBEQUE
SAT – Portland’s first Aussie/American BBQ block party featuring Astoria, Oregon’s Chef Chris Holen and North Queensland, Australia’s Chef Michael Brine. This party will feature local food, local goods, local art and local beer—all with an Australian twist!

13TH DOOR HAUNTED HOUSE
Through November 4 – Enter at your own risk as you embark these dank endless hallways and unhallowed grounds, demented creatures and the spirits that have crossed over, consuming those who have entered before you.

TONY STARLIGHT SHOWROOM

SAT – Portland’s premiere dinner and show venue and is the closest thing to a Vegas show in Portland. A truly memorable dinner and show experience, one that you will want to share with friends and family.

PHANTOM
Through October 15 – This mesmerizing Phantom is traditional musical theatre in the finest sense. The Tony award winning authors of Nine have transformed Gaston Leroux’s The Phantom of the Opera into a sensation that enraptures audiences and critics with beautiful songs and an expertly-crafted book. It is constructed around characters more richly developed than in any other version, including the original novel.

CABARET
Through October 15 – Northwest-acclaimed Director, Ron Daum, continues Lakewood Theater Company’s 65th season with the audience-favorite production of Cabaret. Take your seat at the “perfectly marvelous” Kit Kat Klub in Kander and Ebb’s Tony-winning musical about cabaret performer Sally Bowles and American writer Cliff Bradshaw during the pre-WWII decadence of 1930s Berlin.

THURSDAY EARLY ESCAPE CONCERT SERIES
THURS – A two-hour cruise featuring a different local, live band every Thursday afternoon. Enjoy a relaxing cruise down the Willamette River to help unwind after your week. A bistro plate and a full service bar are available for additional purchase on board.

80’S VIDEO DANCE ATTACK
SAT – 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

 

VANCOUVER BREWFEST: FRESH HOP EDITION
SAT25 fresh hop beers on tap for this special style found only once a year immediately after hop harvest. Meet the brewers and enjoy the beautiful view of the Columbia River from the Vancouver Landing.

SUPERHERO RELAY AND 10K
SAT – Grab your 3 best superheroes or take on the individual Superhero 10K and join the fun! Each of the relay runners will take on our fast 5k run course, and when you all finish you can enjoy music, German food, and local brews at Washougal’s own Oktoberfest!

GHOST WALKS

FRI-SUN through October 29 – Stories have grown up about the Vancouver Barracks, stories of loneliness, fear and tragedy, all part of the darker aspects of military life. Whether you believe in ghosts or not, you will be interested in the stories of the Vancouver Barracks’ past inhabitants.

HEISEN HOUSE: SUMMER CONCERT SERIES
Through FRI – 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 October 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
THURS – 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

· Flatliners
· American Made
· Don’t Sleep
· Realive
· Chasing the Dragon
· Till Death Do Us Part
· The Sound
· A Question of Faith
· Different Flowers

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: September 25, 2017

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While America’s largest living generation, Millennials, are delaying their home-buying plans by a median seven years as a result of their student loan debt, according to a report released by the National Association of Realtors, single-family starts and single-family permits are up 9% and nearly 11% respectively year-over-year and owners of mortgaged U.S. properties realized an aggregate gain of $766 billion in additional equity between second quarter 2016 and the same quarter this year. Below are a few highlights from the third week of September that influence our business:

* Home Equity Increases, Average Gains Vary Wildly. Rising home prices continue to fuel fast growth in household equity. CoreLogic said on Thursday that owners of mortgaged properties in the U.S. (roughly 63 percent of all homes) gained an aggregate of $766 billion in additional equity between the second quarter of 2016 and the same quarter this year. This is an increase of 10.6 percent in nationwide equity over that period. The average increase for each homeowner was just under $13,000, but the distribution is far from even across the states. A few states in the west, notably Washington, Hawaii, and California, with equity gains of $40,000, $33,000 and $30,000 respectively, have offset much poorer performances elsewhere. Homeowners in Alaska saw their equity decline by an average of $1,200 and Delaware homeowners also posted a tiny loss. On the other side of the ledger, the number of underwater homes declined by 10 percent from the first quarter of 2017, to 2.8 million properties, or 5.4 percent of mortgaged homes. A year earlier 7.1 percent of mortgaged homes had been underwater, a total of 3.6 million properties. This is an annual decrease of 22 percent. Negative equity had peaked at 26 percent of mortgaged properties in the fourth quarter of 2009. “Over the last 12 months, approximately 750,000 borrowers achieved positive equity,” said Dr. Frank Nothaft, chief economist for CoreLogic. “This means that mortgage risk continues to decline and, given the continued strength in home prices, CoreLogic expects home equity to rise steadily over the next year.” “Homeowner equity reached $8 trillion in the second quarter of 2017, which is more than double the level just five years ago,” said Frank Martell, president and CEO of CoreLogic. “The rapid rise in homeowner equity not only reduces mortgage risk, but also supports consumer spending and economic growth.”
Full Story… http://www.mortgagenewsdaily.com/09212017_corelogic_negative_equity.asp

* Single Family Starts Post Slight Gain in August. The pace of single-family starts posted a slight gain in August, albeit over downwardly revised estimates of the rate of July construction. Nonetheless, the three-month moving average for single-family starts is at a post-recession high of 849,000 as the gradual recovery in home building continues. Total starts declined almost 1% in August to a 1.180 million seasonally adjusted annual rate, according to the joint data release from the Census Bureau and HUD. The headline decline was due to multifamily production decreases. Single-family starts increased, rising slightly to an 851,000 seasonally adjusted rate in August. Single-family starts are up almost 9% year-to-date compared to 2016 as limited existing inventory and solid builder confidence make for positive market conditions. Single-family permits declined slightly in August, falling 1.5%. However, on a year-to-date basis, single-family permits are nearly 11% higher compared to this time in 2016, representing an additional 54,400 permits for a total of 564,000 thus far this year. These data are consistent with recent trends in the NAHB/Wells Fargo measure of single-family builder confidence and NAHB’s forecast of modest single-family construction growth in 2017. However, we can expect volatility ahead, as the counties affected by Hurricanes Harvey and Irma represent about 14% of national single-family production. With respect to housing’s economic impact, 56% of homes under construction in August were multifamily (610,000). As noted in the graph above, with recent production declines for apartments, the current count of multifamily units is effectively unchanged from a year ago. There were 472,000 single-family units under construction, a gain of 11% from this time in 2016.
Full Story… http://eyeonhousing.org/2017/09/single-family-starts-post-slight-gain/

* Student Debt Delaying Millennial Homeownership by 7 Years. College debt is having a compounding effect on how millennials perceive and plan for homeownership. Eighty-three percent of millennials in a recently released report by the National Association of REALTORS® (NAR) say they are delaying their home-buying plans by a median seven years as a result of their student loan debt. Twenty percent of the millennials surveyed in the study are homeowners; 80 percent are not. The typical millennial homeowner is burdened by $41,200 in student debt, and earning $38,800 annually. Homeownership is not the only casualty of student debt—millennials are also postponing career changes, children, marriage and retirement savings, the study shows. Forty-one percent of millennials have put off marriage; 61 percent have skipped a retirement savings payment; and 86 percent have stayed in an unsatisfying job, or taken on a second job or one outside of their field, as a result of student debt.
Full Story… https://www.nar.realtor/news-releases/2017/09/student-debt-delaying-millennial-homeownership-by-7-years


Portland Metro Weekend Events Planner: September 22-24, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
FOR SEPTEMBER 22-24, 2017

OKTOBERFEST

FRI-SUN Oktoberfest is even more fun when you add the thrills of the Oaks Park midway! Rides for all ages, carnival games, miniature golf, and roller skating make this the very best family around.   

MCMENAMINS OKTOBERFEST 

Through October 7 – Beer, music, more beer, bratwurst and hamburgers, and more. Check out our participating locations.   

MUSEUM DAY LIVE  

SAT – Get a free pass for two people to one of Oregon’s 16 museums.

OREGON INTERNATIONAL AIR SHOW

FRI-SUN – Fun for the whole family! Enjoy a fireworks show Friday evening, check out military vehicles and planes up close, take aircraft rides, and of course look to the sky to see amazing planes and stunts.

13th DOOR HAUNTED HOUSE

Through November 4 Enter at your own risk as you embark these dank endless hallways and unhallowed grounds, demented creatures and the spirits that have crossed over consuming those who have entered before you.

SELLWOOD-MILWAUKEE SUNDAY PARKWAYS 

SUN – Come out and join this 8-mile scenic route on September 24th and end the Sunday Parkways season with a bang! This route provides four fantastic marketplace locations: Westmoreland, Sellwood, and Water Tower Parks, along with the Milwaukie Farmers Market + Milwaukie Business District.

FALL FESTIVAL OF THE ARTS

SAT-SUN – A great weekend of juried art, music, wine, and food in Troutdale, Oregon, located at Glenn Otto Park by the beautiful Sandy River.

BEAVERTON INTERNATIONAL CELEBRATION

Through SUN – A free, fun, family-friendly event showcasing our many cultures through music, dance, interactive activities, food, art and more!

TONY STARLIGHT SHOWROOM

Through September 30 – Portland’s premiere dinner and show venue and is the closest thing to a Vegas show in Portland. A truly memorable dinner and show experience, one that you will want to share with friends and family.

CABARET
Through October 15 – Northwest-acclaimed Director, Ron Daum, continues Lakewood Theater Company’s 65th season with the audience-favorite production of Cabaret. Take your seat at the “perfectly marvelous” Kit Kat Klub in Kander and Ebb’s Tony-winning musical about cabaret performer Sally Bowles and American writer Cliff Bradshaw during the pre-WWII decadence of 1930s Berlin.
  
I DO! I DO!
Through SUN – An intimate musical follows one couple through fifty years of love, quarrels and marriage. The touching story of two soul mates navigating the perils of life is set to a tuneful, charming score.

THURSDAY EARLY ESCAPE CONCERT SERIES
Thursdays through September 28 – A two-hour cruise featuring a different local, live band every Thursday afternoon. Enjoy a relaxing cruise down the Willamette River to help unwind after your week. A bistro plate and a full service bar are available for additional purchase on board.

80’S VIDEO DANCE ATTACK
SAT – 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

GHOST WALKS

FRI-SUN through October 29 – Stories have grown up about the Vancouver Barracks, stories of loneliness, fear and tragedy, all part of the darker aspects of military life. Whether you believe in ghosts or not, you will be interested in the stories of the Vancouver Barracks’ past inhabitants.

BRIDGE TOWN SWING

FRI-SUN – Join top swing instructors and DJ’s from across the US, free beginners classes, leveled workshops and more.  

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 October 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
THURS – 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

· Lego Ninjago Movie
· Big Bear
· Brad’s Status
· Kingsman: The Golden Circle
· Stronger
· Happy Hunting
· Shot
· Ribbons
· The Houses October Built 2

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: September 18, 2017

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As the summer selling season comes to a close, Fannie Mae released it’s Home Purchase Sentiment Index This Week in Real Estate. The findings show August was just below the all-time high set earlier this year, largely fueled by consumers attitude towards now being a good time to sell. Below are a few highlights from the second week of September that influence our business:

* Overall Housing Confidence Up. The Fannie Mae Home Purchase Sentiment Index® (HPSI) increased 1.2 points in August to 88.0, just below the all-time high set in June. The rise can be attributed primarily to increases in two of the six HPSI components: the good time to sell component and the mortgage rates expectations component. The net share who reported that now is a good time to sell a home rose 8 percentage points in August and is now up 21 percentage points compared to the same period last year. Meanwhile, the net share who said it’s a good time to buy fell 5 percentage points in July and is down 16 percentage points year-over-year. Respondents continue to cite high home prices as the most important reason behind the bad time to buy and good time to sell indicators. “In the early stages of the economic expansion, home selling sentiment trailed home buying sentiment by a significant margin. The reverse is true today,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “The net good time to sell share is now double the net good time to buy share, with record high percentages of consumers citing home prices as the primary reason for both perceptions. Such a sizable gap between selling and buying sentiment, if it persists, could weigh on the housing market through the rest of the year.”
Full Story… http://www.fanniemae.com/portal/research-insights/surveys/national-housing-survey.html

* Home Value Index Growth Slows in August. Appraisals continued to lag homeowner expectations in August, although the difference between appraiser and owner opinions narrowed, according to Quicken Loans’ National Home Price Perception Index (HPPI), out Tuesday. The HPPI showed that appraised values were 1.35% lower than home owners’ expectations in August. This is compared to July when there was a 1.55% difference. Regionally, value perceptions vary widely across the country, from home values being 3% higher than home owners estimated in the West, to 3% lower than expected in the Midwest and Northeast.
Full Story… http://www.builderonline.com/money/home-value-index-growth-slows-in-august_o

* Custom and Spec Home Market Shares in 2016. NAHB’s analysis of the most recent Census Bureau’s Survey of Construction (SOC) shows that custom home building registered declining market shares across most US regions in 2016. The sharpest drop in the custom home share of new single-family starts took place in the East South Central division, from 35% to 27%. In the Mountain division, the custom home share of new single-family starts was lowest in the nation but remained stable (14%). The Pacific division was the only US division registering an increase in the custom home share (from 14% to 18%). While nationally about one in five homes started in 2016 was a custom home, the shares varied widely across the US divisions. The New England and East North Central divisions stand out for registering the highest shares of starts supervised by contractors or owners – close to 39%, the Middle Atlantic division is next at close to 32%, followed by the East South Central division at more than a quarter (27%). At the opposite end of the spectrum are the Western divisions – Mountain and Pacific – and the South Atlantic. Home building here is dominated by spec starts. These divisions registered the highest three spec home shares – 83% in the Mountain and South Atlantic, and 79% in the Pacific.
Full Story… http://eyeonhousing.org/2017/09/custom-and-spec-home-market-shares-in-2016/

 

Have a productive week!

Jason


Rainy Season Landscaping: Attract Buyers to Outdoor Spaces

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The approaching rainy season doesn’t have to mean diverting buyers’ attention solely to indoor features. Highlight the vibrant greenery of the Pacific Northwest to showcase your yard’s Winter usability.

Landscape features to consider

Covered patio. To create an entertainment area that’s protected from the rain, add a patio cover to your deck. Awnings may also work, but they are more likely to be damaged in storms. Once you have a covered area, add a patio heater to draw even more guests outdoors.

Rain gardens. Adding a rain garden to your property will attract wintertime wildlife to your garden, providing you with an opportunity to see beauty even in the darkest, coldest time of the year. Furthermore, rain gardens are an environmentally conscious way to handle the heavy winter rainfall endemic to the Pacific Northwest.
VinedGazebo_small

Selecting plants that shine in the rain

Oregon and Washington gardeners can create a beautiful wintertime landscape by selecting plants that will attract the eye even on cloudy days.

Here are a few suggestions:
Astilbes. These are perennial shrubs that produce feather-like flowers in the summer. As fall and winter come on, these flowers dry into intricate stalks, which add vertical interest to any winter landscape. Astilbes flourish in the clay soils that are common in the Portland area. Furthermore, they love waterlogged soil, so they thrive alongside ponds or rain gardens.

Ferns. Ferns often stay green all winter long in the Pacific Northwest. For instance, sword ferns’ arching fronds can provide a beautiful green feast for the eyes throughout the coldest months. Licorice fern is another cheerful choice for winter landscape design, as they break their dormancy in the early winter, sprouting out fresh new growth just after the New Year. Planting a few ferns along your front walk will draw visitors to your door.

Ornamental grasses. Ornamental grasses are like the exclamation points of the winter garden—their fuzzy seed heads bob and sway in winter storms. Grasses add texture and height to an otherwise bland design.

Bamboo. Bamboo is actually a grass that loses its leaves in the spring. In other words, bamboo will bring lush greenery to your garden throughout the winter. However, landscape designer service experts recommend planting bamboo cautiously, as this is one plant that can spread very quickly. If you want to plant traditional bamboo canes directly into the earth, you’ll need to install three-foot-deep barriers to prevent underground roots called rhizomes from spreading. (This is not true for clumping bamboo species, which are less aggressive.) Alternatively, you can plant bamboo in containers. This is a great approach to adding privacy to your winter landscape—designer ceramic pots with good drainage can be massed to create a “wall” of bamboo.

Don’t let buyers track in the mud

Finally, outline high-traffic zones where you (and potential buyers) are likely to tromp. Place pavers or stones in these areas so as to reduce the amount of mud that’s tracked into your home.


Portland Metro Weekend Event Planner: September 15-17, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
FOR SEPTEMBER 15-17, 2017

FALL ROSE SHOW

SAT Visit the Lloyd Center Mall for one of the largest and longest-running rose shows.  

FEAST PORTLAND

THURS-SUN – Featuring trendsetting chefs from all over the country and the world, intimate hands-on classes, and collaborative dinners and panels. Feast offers some of the most compelling experiences and original programming in the modern food festival conversation.

BEAVERTON INTERNATIONAL CELEBRATION

FRI through September 24 – A free, fun, family-friendly event showcasing our many cultures through music, dance, interactive activities, food, art and more!

CRUISE TO HISTORIC DOWNTOWN OREGON CITY  

SAT – View hundreds of classic cars, trucks, motorcycles and hot rods. Free event with music, raffle prizes and much more.  

POLISH FESTIVAL

SAT-SUN – Enjoy non-stop stage performances, including a few dance groups and music bands, polka contest, street dance, delicious Polish food and imported Polish beer.

WCR SAFARI SOIREE

SAT Dinner, dancing, amazing auction items & your chance to help abused and neglected wildcats get the love and care they deserve!

MOUNT ANGEL OKTOBERFEST

THURS-SUN  Fun for the whole family! Celebrate the harvest German style with live music, singing, dancing, arts, crafts and a weekend car show.

TONY STARLIGHT SHOWROOM

Through September 30 – Portland’s premiere dinner and show venue and is the closest thing to a Vegas show in Portland. A truly memorable dinner and show experience, one that you will want to share with friends and family.

CABARET
Through October 15 – Northwest-acclaimed Director, Ron Daum, continues Lakewood Theater Company’s 65th season with the audience-favorite production of Cabaret. Take your seat at the “perfectly marvelous” Kit Kat Klub in Kander and Ebb’s Tony-winning musical about cabaret performer Sally Bowles and American writer Cliff Bradshaw during the pre-WWII decadence of 1930s Berlin.
ART IN REAL TIME
Through September 17 – View contemporary art projects that bring artists and audiences together, creating a vibrant community through live performances, music, screenings, workshops, talks, and visual art installations. 
 
I DO! I DO!
Through September 24 – An intimate musical follows one couple through fifty years of love, quarrels and marriage. The touching story of two soul mates navigating the perils of life is set to a tuneful, charming score.

THURSDAY EARLY ESCAPE CONCERT SERIES
Thursdays through September 28 – A two-hour cruise featuring a different local, live band every Thursday afternoon. Enjoy a relaxing cruise down the Willamette River to help unwind after your week. A bistro plate and a full service bar are available for additional purchase on board.

80’S VIDEO DANCE ATTACK
SAT – 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

STEAM SEPTEMBER WEEKEND

SAT-SUN – 13-mile round trip traveling through the beautiful logging and farming country of North Clark County, stopping at Moulton Station to visit Yacolt Falls.

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 October 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
THURS – 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

· American Assassin
· Brad’s Status
· Mother!
· In Search of Fellini
· The Force
· Justice
· The Wilde Wedding
· The Heart of Man
· Vengeance: A Love Story
· Because of Garcia
· Red Trees

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.