This Week in Real Estate: April 24, 2017

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The National Association of Realtors reported This Week in Real Estate that March’s sales pace was the strongest month of sales since February 2007. In addition, the average time to close a loan in March decreased to 43 days, marking the shortest time period since February 2015. Below are a few highlights from the third week of April that influence our business:

* Existing Home Sales Soar to Highest Pace in More Than a Decade. Existing home sales soared in March to the highest pace in more than 10 years as homes sold significantly faster than last month and last year, according to the latest report from the National Association of Realtors. Total existing home sales, completed transactions including single-family homes, townhomes, condominiums and co-ops, increased 4.4% to a seasonally adjusted rate of 5.71 million in March, according to NAR’s report. March’s sales pace is 5.9% above last year’s pace, marking the strongest month of sales since February 2007. “Bolstered by strong consumer confidence and underlying demand, home sales are up convincingly from a year ago nationally and in all four major regions despite the fact that buying a home has gotten more expensive over the past year,” NAR Chief Economist Lawrence Yun said. “Last month’s swift price gains and the remarkably short time a home was on the market are directly the result of the homebuilding industry’s struggle to meet the dire need for more new homes.”
Full Story… http://bit.ly/2otIUM2

* Freddie Mac: Mortgage Rate Falls Below 4% Mark. Mortgage rates dropped below the 4% marks, hitting the lowest point since November last year. “The 30-year mortgage rate fell 11 basis points this week to 3.97%, dropping below the psychologically-important 4% level for the first time since November,” Freddie Mac Chief Economist Sean Becketti said. “Weak economic data and growing international tensions are driving investors out of riskier sectors and into Treasury securities,” Becketti said. “This shift in investment sentiment has propelled rates lower.”
Full Story…  http://bit.ly/2pXOcDG

* Ellie Mae: Average Closing Time Now Sits at Lowest Level in Two Years. The average time to close a loan in 2016 fluctuated around the high 40s, but this is no longer the case, according to the latest Origination Insight Report from Ellie Mae. The average time to close all loans decreased to 43 days in March, down from 46 days in February, the shortest time to close since February of 2015. Similarly, the time to close a refinance dropped to 43 days from 47 days the month prior, and time to close a purchase dropped to 43 days, down from 45 days in February.
Full Story… http://bit.ly/2q7t22c

 

Have a productive week!
Jason


Portland Metro Weekend Event Planner: April 21-23, 2017

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

EARTH DAY EVENTS

SAT – Celebrate Earth Day with a 5k fun run and brew fest, featuring some of Oregon’s best breweries!
Through SATCelebrating our Earth with an interactive festival featuring campus and community organizations, providing the opportunity for attendees to learn, celebrate, network, collaborate, and get involved in environmental efforts at PSU.
SATSolve It state-wide event. Picking up litter, removing invasive plants, and planting native trees and shrubs across Oregon.
SATThe Oregon Garden: Enjoy a day of free education and entertainment.

SOUL’D OUT MUSIC FESTIVAL
WED-SUN – Bringing world class music and culture across Portland’s best venues.

OREGON ORCHID SHOW & SALE
SAT-SUN – Billed as the largest orchid show in the Pacific Northwest, see thousands of blooming orchids on display and for sale.

OREGON TRAIL RALLY
FRI-SUNRally cars roar to life under the lights, on and off the track. Attendees also get to enjoy a driver meet and greet. Dufur and Hood River also host events for this race on gravel logging roads.

XPOSED
FRI through April 29Dancers, choreographers, and patrons experience raw productions and experimental works-in-progress that push the envelope through unconventional movement with an inquisitive approach to the creative process.

DESIGN WEEK PORTLAND
FRI through April 29 – Two days of core content on the Main Stage. Hundreds of free or low cost Events and Open Houses, conceived and hosted by the creative community. Public engagement at Headquarters. There’s something for everyone.

GATHERING OF THE GUILDS
FRI-SUNSix Portland-area Guilds have joined forces to exhibit and sell art, fine craft, and gift items, all unique and of exceptional quality. The exhibit highlights artists who create with wood, glass, beads, metals, ceramics and fiber.

JERSEY BOYS
WED-SUN – Tony, Grammy and Olivier Award-winning best musical about rock and roll hall of famers The Four Seasons. A true story of how four blue-collar kids became one of the greatest successes in pop music history.

FREE CHAMBER MUSIC CONCERTS
SAT through May 7 – Organized and performed by musicians of the Oregon Symphony Orchestra, this series of FREE chamber music concerts has events throughout the Portland Metro area. Classical Up Close offers a unique opportunity for Portlanders to enjoy the talents of some of the city’s finest musicians, up close, personal… and for FREE!

ROBIN HOOD
Through May 21 – Get ready for justice, Sherwood Forest-style! Adventure awaits as Robin, Marian, and company return to cross swords and match wits with the nefarious Sheriff of Nottingham and the evil Prince John in this hilarious, heist-filled, original adaptation!

MEDEA
Through May 20A classic story full of passion, love, and revenge about a powerful sorceress who gives up all for love and then is abandoned for a younger woman.

TULIP FEST
Through April 30 – Stroll through 40 acres of stunning beauty, experience expansive views of vineyards, distant mountains, and a few mud puddles. Fresh flowers, food, and fun for the entire family, including well behaved dogs on leashes!

80’S VIDEO DANCE ATTACK
Through June 9 – Grab your favorite 80’s outfit and head to Lola’s Room. Enjoy your favorite 80’s hits playing all night on multiple giant screens.

OMSI: THE ART OF THE BRICK EXHIBITION
Through May 29 – Named one of CNN’s Top Ten “Global Must-See Exhibitions,” The Art of the Brick exhibit by artist Nathan Sawaya takes LEGO bricks from child’s toy to sophisticated art form and beyond.

FLASHBACK DANCE CRUISE
SAT (through May 27) – 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.

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

 

LILAC DAYS AT HULDA KLAGER GARDENS
Through May 14 – Step back in time to discover the 1880’s Victorian Farmhouse and country gardens that comprise the Hulda Klager Lilac Gardens.

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.

THE RAINMAKER
Through SAT – In The Rainmaker, at a time of paralyzing drought in the West, we discover a girl whose father and two brothers are worried as much about her becoming an old maid as they are about their dying cattle. What schemes will her family go to find her a husband?

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

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
· Lost City of Z
· Free Fire
· Grow House
· Born In China
· Ozzy Fast & Furry
· Leap
· Phoenix Forgotten

Click here for movie times and theaters.

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Through June 16, 2017, enter for a chance to win the $50,000 grand prize to renovate your home. AND we’re giving away 12 weekly prizes of $2,500! Enter up to two times each day at www.LoveYourHomeSweeps.com

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: April 17, 2017

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The spring selling season is in full swing This Week in Real Estate, as mortgage rates hit the lowest mark of 2017 and the preliminary April report of consumer sentiment advanced to a three month high. Below are a few highlights from the second week of April that influence our business:

* Q1 2017 Foreclosure Activity Below Pre-Recession Levels. ATTOM Data Solutions released its Q1 and March 2017 U.S. Foreclosure Market Report on Thursday, which shows first quarter foreclosure activity was below pre-recession levels nationwide. Nationwide the report shows foreclosure filings – default notices, scheduled auctions and bank repossessions – were reported on 234,508 U.S. properties in the first quarter of 2017, down 11 percent from the previous quarter and down 19 percent from a year ago to the lowest level since Q3 2006. The first quarter foreclosure activity total was 16 percent below the pre-recession average of 278,912 properties with foreclosure filings each quarter between Q1 2006 and Q3 2007. “U.S. foreclosure activity on a quarterly basis first dipped below pre-recession averages in the fourth quarter of last year, and this report shows that trend continuing for the second consecutive quarter,” said Daren Blomquist, ATTOM Data Solutions senior vice president.
Full Story… http://www.realtytrac.com/news/foreclosure-trends/march-and-q1-2017-u-s-foreclosure-market-report/

* Mortgage Rates Hit Lowest Mark of 2017. Freddie Mac released the results of its Primary Mortgage Market Survey on Thursday, showing the 30-year mortgage rate dropping for the fourth consecutive week and hitting a new low for 2017. 30-year fixed-rate mortgage averaged 4.08 percent with an average 0.5 point for the week ending Thursday. A year ago at this time, the 30-year fixed rate mortgage averaged 3.58 percent. 15-year fixed rate mortgage this week averaged 3.34 percent with an average 0.5 point. A year ago at this time, the 15-year fixed rate mortgage averaged 2.86 percent. 5-year adjustable rate mortgage averaged 3.18 percent this week with an average 0.4 point. A year ago, the 5-year ARM averaged 2.84 percent.
Full Story…  http://freddiemac.mwnewsroom.com/press-releases/mortgage-rates-hit-lowest-mark-of-2017-otcqb-fmcc-1304919?feed=429e0be3-9aef-4a3a-9775-43f8e470d510

* Affordability, Tight Supply Cause Vacation Home Sales to Plummet in 2016; Investment Sales Climb 4.5%. Last year’s strongest pace of home sales in a decade included a sizable drop in activity from vacation buyers and a jump from individual investors. NAR’s 2017 Investment and Vacation Home Buyers Survey revealed that vacation home purchases last year descended to an estimated 721,000, down 21.6 percent from 2015 (920,000) and the lowest since 2013 (717,000). Investment-home sales in 2016 rose 4.5 percent to 1.14 million from 1.09 million in 2015. Owner-occupied purchases jumped 12.5 percent to 4.21 million last year from 3.74 million in 2015 – the highest level since 2006 (4.82 million). “Sales to individual investors reached their highest level since 2012 (1.20 million) as investors took advantage of record low mortgage rates and recognized the sizable demand for renting in their market as renters struggle to become homeowners,” said Lawrence Yun, NAR chief economist. Vacation sales accounted for 12 percent of all transactions in 2016, which was the lowest share since 2012 (11 percent) and down from 16 percent in 2015. The portion of investment sales remained unchanged for the third consecutive year at 19 percent, and owner-occupied purchases increased to 70 percent (65 percent in 2015).
Full Story… https://www.nar.realtor/news-releases/2017/04/affordability-tight-supply-cause-vacation-home-sales-to-plummet-in-2016-investment-sales-climb-45

Have a productive week!
Jason


Portland Metro Weekend Event Planner: April 14-16, 2017

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

 

RABBIT ROMP AT THE ZOO
SATRabbit Romp features candy egg hunts every 10-15 minutes between 9:30AM and 3PM. Children ages 3 to 10 are invited to hunt for compostable plastic eggs, candy, and prizes. Toddlers 2 and under can participate in a candy hunt organized especially for them at the classrooms by Bear Walk Café.

EASTER EGG HUNT GUIDE
Through April 16 – Find Easter egg hunts in the Portland Metro area.

ADULTS ONLY EASTER EGG HUNT
SAT – Hop on board the BarFly Bus for an adult Easter Egg Hunt at bars, clubs & lounges all over Portland.

ALPENROSE EASTER EGG HUNT
SAT – Tons of prizes, including giant stuffed animals. This is one of the biggest and most anticipated Easter Egg Hunts west of the Mississippi. 55th Annual Easter Egg Hunt, ages 3-5 starts at 10:30am, ages 6-8 start at 12:30pm.

PORTLAND SPIRIT EASTER CRUISE
SUN – Hop on board the Portland Spirit for a two-hour Easter Brunch cruise featuring an elaborate brunch buffet, ever-changing views, and excellent service.

BUNNY CON
SAT – Portland’s largest bunny-themed bar crawl, proceeds will raise money for No Kid Hungry. Pre-register for schedule.

TULIP FEST
Through April 30 – Stroll through 40 acres of stunning beauty, experience expansive views of vineyards, distant mountains, and a few mud puddles. Fresh flowers, food, and fun for the entire family, including well behaved dogs on leashes!

SPRING BEER & WINE FEST
FRI-SAT – Enjoy beer, wine, spirits, cheese, chocolate & more!

WALKING TOUR OF PORTLAND’S SINFUL PAST
SAT – Historically, Portland had the reputation of being a rugged, rough town, and gave miners, loggers, and fishermen many opportunities to part with their cash in various debaucherous ways. In addition to the shanghaiers and con men, saloons, gambling halls and bordellos also thrived in “Whitechapel,” “The North End,” or “Old Town,” as we know it today. Visit locations of famous saloons, bars and bordellos, card rooms and gambling dens, some of which are still in operation today!

80’S VIDEO DANCE ATTACK
Through June 9 – Grab your favorite 80’s outfit and head to Lola’s Room. Enjoy your favorite 80’s hits playing all night on multiple giant screens.

OMSI: THE ART OF THE BRICK EXHIBITION
Through May 29 – Named one of CNN’s Top Ten “Global Must-See Exhibitions,” The Art of the Brick exhibit by artist Nathan Sawaya takes LEGO bricks from child’s toy to sophisticated art form and beyond.

FLASHBACK DANCE CRUISE
SAT (through May 27) – 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.

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

WOODLAND TULIP FESTIVAL
SAT-SUN – Along with its annual blooming tulip fields, display garden and gift shop, pick your own tulips in the You Pick Tulip Field. Other activities include: Outdoor Artisan & Farmers Market, featuring a large variety of local vendors with goods ranging from handmade garden art, jewelry, health conscious items, pet products, garden décor, art and more.

NW’S LARGEST GARAGE/VINTAGE SALE
SAT – A great place to sell and find many wonderful items, including furniture, jewelry, tools, toys, electronics, clothing, household items, baby & kids items, books, fishing, hunting, sporting goods, collectibles, & much more.

THE RABBIT HOLLOW
Through SUN – Enjoy a relaxed and fun family-filled experience as you wander through the forest, which is home to a number of bunnies. You’ll find a number of interesting rabbits along the bunny trail and gather treats and great photos along the way.

THE RAINMAKER
Through April 22 – In The Rainmaker, at a time of paralyzing drought in the West, we discover a girl whose father and two brothers are worried as much about her becoming an old maid as they are about their dying cattle. What schemes will her family go to find her a husband?

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

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

NEW MOVIES OUT THIS WEEK
·  The Fate of the Furious
·  A Quiet Passion
·  Grow House
·  Spark: A Space Tail
·  Mimosas

Click here for movie times and theaters.

WebAdLargeSquareEnterButton2

Through June 16, 2017, enter for a chance to win the $50,000 grand prize to renovate your home. AND we’re giving away 12 weekly prizes of $2,500! Enter up to two times each day at www.LoveYourHomeSweeps.com

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: April 3, 2017

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As Q1 comes to a close and we welcome in the spring selling season, This Week in Real Estate, we do so at a time when consumer confidence reaches a decade and a half high. Below are a few highlights from the last week of March that influence our business:

* Consumer Confidence Surges to 16-Year High. Consumer confidence leapt forward in March to the highest level in 16 years, according to the Consumer Confidence Survey conducted by The Conference Board by Nielsen. The Consumer Confidence Index improved significantly in March to 125.6, up from 116.1 in February. The Present Situation Index increased from 134.1 to 143.1 and the Expectations Index increased to 113.8, up from 103.9 last month. “Consumer confidence increased sharply in March to its highest level since December 2000,” said Lynn Franco, The Conference Board director of economic indicators. “Consumers’ assessment of current business and labor market conditions improved considerably. Consumers also expressed much greater optimism regarding the short-term outlook for business, jobs and personal income prospects. Thus, consumers feel current economic conditions have improved over the recent period, and their renewed optimism suggests the possibility of some upside to the prospects for economic growth in the coming months.”
Full Story… https://www.conference-board.org/data/consumerconfidence.cfm

* Pending Sales Spring Up. The Pending Home Sales Index increased 5.5% in February 2017 to its highest level since April 2016, and the second highest since May 2006. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased to 112.3 in February, up from 106.4 in January and up 2.6% from the same month a year ago. The PHSI increased in all four regions, ranging from 11.4% in the Midwest to 3.1% in the West. Year-over-Year, the PHSI increased 6.6% in the Northeast and 4.2% in the South, while falling slightly in the West and Midwest. February existing sales were slowed by inventory constraints, and these shortages are expected to continue, especially in the lower- and mid-market price ranges. However, builder sentiment remains strong, and new home sales are trending positive. As the economy continues to add jobs, increased demand among first-time buyers will help fuel new and existing sales in 2017.
Full Story…  http://eyeonhousing.org/2017/03/pending-sales-spring-up/

* Home Prices in the First Month of 2017. S&P Dow Jones Indices released the Home Price Index for January 2017 on Tuesday. The Case-Shiller U.S. National Home Price Index rose at a seasonally adjusted annual growth rate of 7.9%, slower than the 9.2% increase in December. House prices dropped to the lowest level in the first month of 2012. Five years later, house prices surpassed the pre-recession peak of 2006 and hit the highest level historically. Of the twenty (20) major U.S. metropolitan areas highlighted in the report Seattle had the highest annual home price appreciation growth rate at 22.6%, followed by Chicago (16.5%), Denver (14%), Washington D.C. (12.7%) and Portland (12.2%).
Full Story… http://eyeonhousing.org/2017/03/home-prices-in-the-first-month-of-2017/

Have a productive week!
Jason


Portland Metro Weekend Event Planner: March 31-April 2, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
FOR MARCH 31-April 2, 2017

 

WHALE WATCHING WEEK

Through FRI – Volunteers will help you spot whales at 24 sites during Whale Watching Week. Mileage shown is to Depoe Bay Whale Center in Newport. Repeats in December.

EASTER BUNNY WELCOME PARTY
SAT – Help welcome the Easter Bunny with music, games and prizes, balloon artistry, cupcake decorating, crafts and the opportunity to meet Rojo the lama and Napolean the alpaca.

OREGON GHOST CONFERENCE

FRI-SUNOregon Ghost Conference features guest speakers, classes, vendors, ghost tours, and social events in Seaside.

UMBRELLA FESTIVAL
THURS-SUNCircus, burlesque, vaudeville, music, dance, and physical comedy have a home under one big umbrella.

TULIP FEST
Through April 30 – Stroll through 40 acres of stunning beauty, experience expansive views of vineyards, distant mountains, and a few mud puddles. Fresh flowers, food, and fun for the entire family, including well behaved dogs on leashes!

DUALITY: DANCE BALLET OF INDIA
SAT – With an international cast of professional dancers from Delhi, Chennai and the U.S., this performance features Indian dance forms Bharatha Natyam and the martial arts-based dance form Chhau, as well as local modern dancers in an elegant contemporary dance production.

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.

SHAFTY: PORTLAND’S TRIBUTE TO PHISH
SATShafty is the country’s finest Phish tribute band! What began as essentially a goof – a chance to throw down some familiar beats and jam for whoever felt like listening – ultimately lit a spark under the Phish fans in the Portland music scene.

FESTIVAL OF COLORS: RANG BARSE 2017
SAT – Come and celebrate the Festival of Colors with your friends and family and make new friends as well.

FEATHERS AND TEETH
Through SUN – This fairytale concoction of teen angst and devastating loss make for a grisly good time in this crackling stew of dark comedy, family drama and fantastical carnage.

OMSI: THE ART OF THE BRICK EXHIBITION
Through May 29 – Named one of CNN’s Top Ten “Global Must-See Exhibitions,” The Art of the Brick exhibit by artist Nathan Sawaya takes LEGO bricks from child’s toy to sophisticated art form and beyond.

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.

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

THE RABBIT HOLLOW
Through April 16 – Enjoy a relaxed and fun family-filled experience as you wander through the forest which is home to a number of bunnies. You’ll find a number of interesting rabbits along the bunny trail and gather treats and great photos along the way.

SPRING FLING
SAT – Join in the fun and laughter with your friends and family! Enjoy games, crafts, bunny sack races, surprise guests and more. Bring a festive treat, snack or drink to share.

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

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
· Ghost In The Shell
· Boss Baby
· The Zookeeper’s Wife
· The Discovery
· The Void
· Live Cargo
· The Blackcoat’s Daughter

Click here for movie times and theaters.

WebAdLargeSquareEnterButton2

Through June 16, 2017, enter for a chance to win the $50,000 grand prize to renovate your home. AND we’re giving away 12 weekly prizes of $2,500! Enter today at www.LoveYourHomeSweeps.com

CLICK HERE TO VIEW THIS WEEK’S OPEN HOUSES

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


Enter to Win our $50,000 Home Update Sweepstakes!

 

We are very excited to announce the new Berkshire Hathaway HomeServices $50,000 national “Love Your Home” Sweepstakes! One lucky winner will receive $50,000 to update their home, and one person each week will win $2,500!

To enter the sweepstakes, visit: LoveYourHomeSweeps.com from March 27 – June 16, 2017.

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Open to legal residents of the 50 United States and D.C., must be 21 years or older. To enter and for complete details and odds, visit www.LoveYourHomeSweeps.com

Berkshire Hathaway HomeServices and their respective affiliates, subsidiaries, independent contractors, parent corporations, advertising and promotional agencies, and their respective officers, directors, employees and agents are not eligible to participate.


This Week in Real Estate: March 27, 2017

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A theme of highs and lows This Week in Real Estate. The value of the housing market hits a 10-year high while both cash and distressed sales totals hit nine-year lows in 2016. Below are a few highlights from the third full week of March that influence our business:

* Value of the Housing Market Hits a 10-Year High. The value of the housing market hit a 10-year high in 2016 as equity reached new levels, according to the Urban Institute’s latest report. The Federal Reserve’s Flow of Funds report has consistently indicated an increasing total value of the housing market driven by growing household equity since 2012, and 2016 was no different. Total debt and mortgages held steady at $10.3 trillion, but household equity reached a new high of $14 trillion. The total value of the housing market increased to $24.3 trillion, surpassing even the pre-crisis peak of $23.9 trillion in 2006.
Full Story… http://www.housingwire.com/articles/39669-value-of-housing-market-hits-10-year-high

* 2016 Cash and Distressed Sales Totals Hit Nine-Year Lows. The share of homes sold for cash fell to the lowest level in nearly a decade in full-year 2016. CoreLogic said that 32.1 percent of all home sales in the 12-month period ending in December closed without the benefit of a mortgage. This was a decrease of 2.2 percentage points from the 2015 share. The previous low point for such sales was in 2007 when cash sales accounted for a 27 percent of sales. CoreLogic also noted that distressed home sales, a total of both short sales and sales of lender-owned real estate (REO) accounted for 8.9 percent of all sales for the year, also the lowest share since 2007. At its peak in January 2009, distressed sales totaled 32.4 percent of all sales with REO sales representing 27.9 percent of that share.
Full Story…  http://www.mortgagenewsdaily.com/03222017_corelogic_distress_cash_sales.asp

* Positive Trend For New Home Sales. Contracts for new home sales expanded by 6.1% in February, according to estimates from the joint data release of HUD and the Census Bureau. The growth in sales continues along a positive trend for the market, which is supported by solid job growth, improving household formations, continuing favorable housing affordability conditions, and tight existing home inventory. The seasonally adjusted annual pace for February new single-family home sales was 592,000. This is 6.1% better than January and a 12.8% gain over a year ago. The most recent data also indicate a growing share of homes not-yet-started in builder inventory. For example, on a year-over-year basis, homes under construction in inventory have increased by almost 6% over the last year. Completed, ready-to-occupy homes (there are only 63,000) are up 5% since February of last year. In contrast, homes not-yet-listed in inventory have increased 42%, from 36,000 in February of 2016 to 51,000 last month. Regionally, all areas except the Northeast saw monthly growth in sales, with notable growth of 31% in the Midwest. Sales in the Northeast were down 21%. Smaller growth of 4% and 8% was recorded in the South and West respectively.
Full Story… http://eyeonhousing.org/2017/03/positive-trend-for-new-home-sales/

Have a productive week!
Jason


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

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

 

TECH FEST NW
SAT-SUN – Explore the best of tech trends—from Artificial Intelligence to cannatech—in an up-close and personal way. With four tracks of content—Virtual Reality, Artificial Intelligence & Robotics, Lifestyle Tech, and Digital Storytelling. There’s truly something for everyone with an eye and ear for the tech universe.

PORTLAND GOLD & TREASURE SHOW
SAT-SUN – Presenting a unique opportunity where local chapters, state directors, land rights advocates, leading industry manufacturers, dealers and experts come together to welcome a new audience pursuing an interest in gold prospecting.

NORTHWEST HORSE FAIR & EXPO
FRI-SUN – Combining first-rate education, entertainment, and shopping. Whether you own horses or are a horse lover at heart, are a beginner or professional, are interested in dressage or trail riding, there is truly something for everyone.

HOLI HAI
SUNFestival of Colors is the happiest festival in Portland! We celebrate the coming of spring, the joy of friendship, and equality for all. All ages, nationalities and ethnicities are encouraged to participate!

WORLD WATER DAY PUB CRAWL
FRI – Join Base Camp Brewery, Coopers Hall, Cyrils at Clay Pigeon and Portland Roasting Coffee for a neighborhood pub crawl! Start out on Oak Street in the Industrial Eastside neighborhood from 5PM-8PM for great drinks, food, and great prizes. Walk the route around the neighborhood and stop by each station for a special treat!

CIDER RITE OF SPRING
SAT – Special feature this year includes a private VIP lounge experience in the balcony space, with catering by Whole Foods Market and industry-leading cidermakers showcasing a VIP exclusive cider. Whole Foods will be providing cheese pairings specific to each special cider offering.

TULIP FEST
Through April 30 – Stroll through 40 acres of stunning beauty, experience expansive views of vineyards, distant mountains, and a few mud puddles. Fresh flowers, food, and fun for the entire family, including well-behaved dogs on leashes!

TULIP TRAIL RUN
SAT – 3rd annual 5K & 10K Run. An off-road run through tulip fields and around the farm benefiting the Oregon City High School Track and Field and Cross Country teams.

OMSI: THE ART OF THE BRICK EXHIBITION
Through May 29 – Named one of CNN’s Top Ten “Global Must-See Exhibitions,” The Art of the Brick exhibit by artist Nathan Sawaya takes LEGO bricks from child’s toy to sophisticated art form and beyond.

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.

CRIMES OF THE HEART
SAT through March 26 – Three eccentric sisters who have committed Crimes of the Heart reunite at their grandfather’s home, at Mask & Mirror Community Theatre in Tigard. Discount tickets $11.

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

SPRING BARREL TASTING WEEKEND
FRI-SUN – Hosted by Three Brothers Vineyard & Winery along with Bethany Vineyards & Gouger Cellers. Sample their 2015 Pinot Noir, Tempranillo and a blend of Cabernet Sauvignon/Merlot/Syrah (often labeled as Brethren Cuvee).

‘COUVE CLOVER RUN
SUN – Earn your post-event party by running or walking 3, 7, or 10 miles. Enjoy soup, green beer, hot drinks, and treats, hosted by Main Event and other downtown Vancouver businesses.

ROCKY HORROR PICTURE SHOW
SAT – The Rocky Horror Picture Show will be shown on a screen as actors perform along with the movie, and audience participation is encouraged! Also, feel free to dress up!

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

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
·         Life
·         King Arthur
·         Power Rangers
·         Chips
·         Dig Two Graves
·         The Leveling
·         Wilson

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: March 20, 2017

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Favorable news This Week in Real Estate from the new construction sector as builder confidence hits a 12-year high and single-family housing starts reach its highest level since late 2007. Below are a few highlights from the second full week of March that influence our business:

* Builder Confidence Hits 12-Year High. Builder confidence in the market for newly-built single-family homes jumped six points to a level of 71 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This is the highest reading since June 2005. All three HMI components posted robust gains in March. The component gauging sales conditions increased seven points to 78 while the index charting sales expectations in the next six months rose five points to 78. Meanwhile, the component measuring buyer traffic jumped eight points to 54. Looking at the three-month moving averages for regional HMI scores, the Midwest increased three points to 68 and the South rose one point to 68. The West dipped three points to 76 and the Northeast edged one point lower to 48.
Full Story… http://www.nahb.org/en/news-and-publications/press-releases/2017/03/builder-confidence-hits-twelve-year-high.aspx

* MBA: Mortgage Applications Rise Three-Weeks Straight. Mortgage applications increased three-weeks straight as the market gears up for the spring home-buying season. The latest update from the Mortgage Bankers Association Weekly Mortgage Applications Survey for the week ending March 10 found that applications increased 3.1% from one week earlier. This is similar to the previous week’s 3.3% increase in applications. Both refinance and purchase applications rose, helping boost overall application volume. The Refinance Index increased 4% from the previous week, while the seasonally adjusted Purchase Index increased 2% from one week earlier. Mortgage interest rates for most products jumped close to two-year highs. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($424,100 or less) now sits at its highest level since April 2014, growing to 4.46% from 4.36%. Also reaching its highest level since April 2014, the average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $424,100) increased to 4.44% from 4.27%.
Full Story…  http://www.housingwire.com/articles/39572-mba-mortgage-applications-rise-three-weeks-straight?eid=322520585&bid=1693359

* Single-Family Housing Starts Reach Highest Level Since Late 2007. Nationwide housing starts rose 3 percent in February from an upwardly revised January reading to a seasonally adjusted annual rate of 1.288 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. Single-family production increased 6.5 percent to 872,000 units – its highest reading in nearly a decade – while multifamily starts fell 3.7 percent to 416,000 units. “This month’s gain in single-family starts is consistent with rising builder confidence in the housing market,” said Granger MacDonald, chairman of the National Association of Home Builders (NAHB). “We should see single-family production continue to grow throughout the year, tempered somewhat by supply-side constraints such as access to lots and labor.” Regionally in February, combined single-family and multifamily housing production (starts) rose 35.7 in the West. Starts fell by 3.8 percent in the South, 4.6 percent in the Midwest and 9.8 percent in the Northeast. Regionally, overall permits rose 25.4 percent in the Midwest. Permits fell 10 percent in the West, 10.4 percent in the South and 22.3 percent in the Northeast.
Full Story… http://www.nahb.org/en/news-and-publications/press-releases/2017/03/single-family-housing-starts-reach-highest-level-since-late-2007.aspx

Have a productive week!
Jason


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