Top 2018 Design Trends We’re Thankful For

 

The modern home is always evolving. Here are top 8 design trends we are thankful for in 2018.

A Pop of Color

Adding a pop of color in the kitchen allows for a featured item to be accented in a creative way without spending a lot of money. Try painting your island or lower cabinets a bright color. We’re thankful for this trend bringing a bit of a personal touch to any kitchen.

 

Hidden Appliances

Magic appliances are a new trend catching on to new homebuilders and designers. Homeowners are hiding ‘stainless steel fatigue’ with wood paneling to conceal large appliances. With these eye sores out of view, the space looks and feels larger. Imagine how clean your kitchen would look as you cook a Thanksgiving feast using your disappearing appliances.

 

Curves

A large piece of furniture featuring soft lines, ruffles, and even ruching creates an inviting space while allowing family to gather and fit harmoniously in one space.

 

Wallpaper

Wallpaper has made a big comeback! High-end designers are picking this trend up and embracing it unlike ever before, by creating beautiful statement walls. You won’t see this artsy trend going out of style anytime soon.

 

Dining Rooms with an Open Floor Plan

Create an open floor plan dining room to instill an impactful sense of togetherness that flows through the space from kitchen to table and allows you to spend more time with family.

 

LED Lighting

With a new holiday season comes new advancements in tech gear. We’re thankful for the smart technology featuring LED tape lighting. Place a strip under your kitchen cabinets to illuminate your backsplash, counter tops, or to highlight your favorite kitchen gadgets.

 

Large Tiles

Make a statement with flooring in your bathroom, kitchen, entry-way and more! Play with intricate tile design playing with the lines of the room.

 

Detailed Ceilings

Creative ceiling designs can range from new crown molding, natural wood or stained shiplap, gold leaf detailing, and metallic painted ceilings. Discuss with an interior designer to find out which element would best complement the style of your home.

 

 

Article courtesy of HGTV. com

Images courtesy of Houzz.com


Home Prices and Equity Rise as Affordability Lowers

 

ATTOM Data Solutions reported This Week in Real Estate that the number of equity rich U.S. properties increased to a new high in the third quarter of 2018. Below are a few highlights from the first week of November that influence our business:

Equity Rich U.S. Properties Increase to New High of 14.5 Million in Q3 2018
On Thursday ATTOM Data Solutions released its Q3 2018 U.S. Home Equity & Underwater Report, which shows that in the third quarter of 2018, nearly 14.5 million U.S. properties were equity rich – where the combined estimated amount of loans secured by the property was 50 percent or less of the property’s estimated market value – up by more than 433,000 from a year ago to a new high as far back as data is available, Q4 2013. The 14.5 million equity rich properties in Q3 2018 represented 25.7 percent of all properties with a mortgage, up from 24.9 percent in the previous quarter but down from 26.4 percent in Q3 2017. “West coast markets along with New York have the highest share of equity rich homeowners while markets in the Mississippi Valley and Rust Belt continue to have stubbornly high rates of seriously underwater homeowners when it comes to home equity,” said Daren Blomquist, senior vice president with ATTOM Data Solutions. States with the highest share of equity rich properties were California (42.5 percent); Hawaii (39.4 percent); Washington (35.3 percent); New York (34.9 percent); and Oregon (33.6 percent).

Housing Affordability Edges Lower in the Third Quarter
A modest increase in interest rates and home prices kept housing affordability at a 10-year low in the third quarter of 2018, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Opportunity Index (HOI). In all, 56.4 percent of new and existing homes sold between the beginning of July and end of September were affordable to families earning the U.S. median income of $71,900. This is down from the 57.1 percent of homes sold in the second quarter that were affordable to median-income earners and the lowest reading since mid-2008. The national median home price edged up from $265,000 in the second quarter of 2018 to $268,000 in the third quarter. This is the highest quarterly median price in the history of the HOI series. At the same time, average mortgage rates rose by a nominal 5 basis points in the third quarter to 4.72 percent from 4.67 percent in the second quarter.

CoreLogic Reports September Home Prices Increased by 5.6% Year Over Year
CoreLogic released on Tuesday the CoreLogic Home Price Index (HPI) and HPI Forecast for September 2018, which shows home prices rose both year over year and month over month. Home prices increased nationally by 5.6 percent year over year from September 2017. On a month-over-month basis, prices increased by 0.4 percent in September 2018. Looking ahead, the CoreLogic HPI Forecast indicates home prices will increase by 4.7 percent on a year-over-year basis from September 2018 to September 2019. On a month-over-month basis, home prices are expected to decrease by 0.6 percent from September to October 2018. The CoreLogic HPI Forecast is a projection of home prices calculated using the CoreLogic HPI and other economic variables. Values are derived from state-level forecasts by weighting indices according to the number of owner-occupied households for each state.

 


2019 Housing Forecasting and Millennial Homeownership

2019 Forecasting and Millennial Homeownership

National Association of Realtors chief economist Lawrence Yun presented his 2019 forecast This Week in Real Estate at NAR’s annual conference in Boston. Mr. Yun estimates there will be 5.345 million home sales in 2018, down 3% from last year, and will increase to 5.4 million sales in 2019, a 1% increase. Additionally, Mr. Yun expects median home prices to increase 3.1% in 2019 and 2.6% growth in 2020. Below are a few highlights from the final week of October that influence our business:

2019 Forecast: Existing Home Sales to Stabilize and Price Growth to Continue
Consumers should expect home sales to flatten and home prices to continue to increase, though at a slower pace, according to a residential housing and economic forecast session at NAR’s 2018 Realtors Conference & Expo. “2017 was the best year for home sales in ten years, and 2018 is only down 1.5 percent year to date. Statistically, it is a mild twinge in the data and a very mild adjustment compared to the long-term growth we’ve been experiencing over the past few years. The current market conditions are fundamentally different than what we were experiencing before the recession 10 years ago,” said NAR chief economist Lawrence Yun. “Most states are reporting stable or strong market conditions, housing starts are under-producing instead of over-producing and we are seeing historically low foreclosure levels, indicating that people are living within their means and not purchasing homes they cannot afford. This is a stronger, more stable market compared to the loosely regulated market leading up to the bust.” With a few months of data remaining in 2018, Yun estimates that existing-home sales will finish at a pace of 5.345 million—a decrease from 2017 (5.51 million). In 2019, sales are forecasted to increase to 5.4 million, a 1 percent increase. The national median existing-home price is expected to rise to around $266,800 in 2019 (up 3.1 percent from 2018 this year and $274,000 in 2020. “Home price appreciation will slow down – the days of easy price gains are coming to an end – but prices will continue to rise.”

Construction Spending Holds Ground
The U.S. Census Bureau of the Department of Commerce announced that construction spending during September 2018 was estimated at a seasonally adjusted annual rate of $1.330 trillion, about the same as the revised August estimate of $1.329 trillion. Notably, September’s spending is 7.2% above the September 2017 estimate of $1.24 trillion. Of that, residential construction spending was at a seasonally adjusted annual rate of $556.4 billion in September, 0.6% above the revised August estimate of $553 billion. NAHB Chairman Randy Noel said despite rising affordability concerns, builders continue to report firm demand for housing, especially as Millennials and other newcomers enter the market. “The recent decline in lumber prices from record-high levels earlier this summer is also welcome relief, although builders still need to manage construction costs to keep homes competitively priced,” Noel stated.

Millennial Homeownership Rate Rises to 37%
According to the Census Bureau’s Housing Vacancy Survey (HVS), the U.S. homeownership rate was 64.4% in the third quarter of 2018, which is not statistically different from its last quarter reading. The national homeownership rate demonstrated stability during a quarter in which housing markets softened due to declining affordability conditions. This follows the rate dropping to a cycle low of 62.9% in the second quarter 2016. Compared to the peak of 69.2% in 2004, however, the homeownership rate is still lower by almost five percentage points. The count of total households, however, increased to 121 million in the third quarter of 2018 from 119 million a year ago. Newly-gained households are predominantly owner households, while renter households only increased by 60,000. The homeownership rates among all age groups under 64 increased over the last year. Millennial households, mostly first-time homebuyers, registered the largest gains among all households, a 1.2 percentage point increase from a year ago. Millennials are gradually returning to the for-sale housing market, where gains in home price are slowing down. The homeownership rates of households ages 45-54 and 55-64 experienced a 0.8 percentage point increase.

 

 


Portland Metro Weekend Planner: November 2-4, 2018

 

PORTLAND METRO WEEKEND PLANNER
NOVEMBER 2-4, 2018

WINTER SPORTS SALE
THROUGH SUN – Get ready to shred this season with one of the biggest Ski and Snowboard sales of the year at the Portland Expo Center.

LAKE OSWEGO HOLIDAY MARKETPLACE
THROUGH NOV 29 – The 510 Museum and ARTspace host the Holiday Marketplace with local artists, wood, ceramics, jewelry, and handmade gifts.

NITEMARE B4 XMAS
THROUGH NOV 4 – The troupe Saloon Ensemble performs in celebration of Day of the Dead, with sing-alongs, costume contest, and more!

YOUNG FILMMAKERS FESTIVAL
SAT – Short films playing by local Pacific Northwest teens at the Portland Art Museum.

WINES OF FRANCE
SAT – Head to the Taste of France in Lake Oswego to listen to music, enjoy small bites and sample some of Frances’ most prestigious wines.

SAUSAGE & SAUERKRAUT
SAT – Indulge in locally made sausage at the 84th Annual Verboort Sausage dinner.

GLUTEN FREE EXPO
SAT-SUN – Head to the Gluten-Free and Food Allergy Festival to taste new and local products. Dairy and nut free options will also be showcased.

PORTLAND WINTERHAWKS
ONGOING – Catch a Winterhawks game this season!

PORTLAND TRAIL BLAZERS
ONGOING – Enjoy at night at the Moda Center and watch the Portland Trail Blazers.

DAY OF THE DEAD FESTIVAL
FRI – Celebrate Dia de Muertos, enjoy tamales, arts and crafts, live performances and learning cultural traditions.

PORTLAND ARCHITECTURE AWARDS
FRI – Join the annual celebration for Portland community design with live funk and soul music.

PINTS FOR PREEMIES
FRI – Support the Northwest Mothers Milk Bank and Evie’s Fund to help infants with medical needs. This fundraiser offers brews, cornhole tournament, silent auction, delicious food, and more!

DISCOVER KING TUT
THROUGH JAN 27 – Take on a once in a lifetime experience viewing the treasures and tomb of famous King Tut at OMSI.

VANCOUVER METRO EVENTS

LARGEST GARAGE & VINTAGE SALE
SAT – Head to the NW’s Largest Garage and Vintage Sale in Ridgefield. Shop hundreds of sales in one location!

LANTERN TOUR
ONGOING – Take in an evening at Fort Vancouver with a guided lantern tour. Led by a Park Ranger, head through the Counting House, Fur Store, Chief Factor’s Home and the Bake House, as you learn aspects of each working area.

VANCOUVER NIGHT MARKET
FRI – Shop local at the Vancouver Night Market. View locally crafted art and enjoy food.

WILD THINGS: THE POWER OF NATURE IN OUR LIVES
THROUGH SEPT 2019 – The Museum of Vancouver and Nature Vancouver present the exhibition Wild Things: The Power of Nature in Our Lives. Dives into life stories of local plants and animals and how they relate to each other and how they connect people to nature in the city.

MOVIES OPENING THIS WEEKEND

  • Bohemian Rhapsody
  • The Nutcracker and the Four
  • Nobody’s Fool
  • Beautiful Boy
  • Boy Erased
  • In Harm’s Way
  • A Private War
  • In Search of Greatness
  • Maria by Callas
  • Bodied
  • Rampant
  • Searching For Ingmar Bergman

Click here for movie times and theaters.

CLICK HERE TO VIEW THIS WEEK’S OPEN HOUSES

FOR A COMPLETE LIST OF EVENTS IN THE AREA FOR THE ENTIRE MONTH, VISIT

www.events12.com/portland

 

 

www.bhhsnw.com


Housing Market Gains in the 3rd Quarter

 

Housing Market Gains in the 3rd Quarter

Despite the slowdown in the rate of home price appreciation as reported by ATTOM Data Solutions This Week in Real Estate, homeowners who sold in Q3 2018 realized the highest average price gain since Q2 2007. Below are a few highlights from the fourth week of October that influence our business:

Pending Home Sales Stabilize

Pending home sales increased in September but have decreased on an annual basis for nine consecutive months. The Pending Home Sale Index increased 0.5% in September but remains down 1.0% year-over-year. The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR). The PHSI increased to 104.6 in September, from 104.1 in August. The PHSI increased 4.5% in the West and 1.2% in the Midwest but decreased 0.4% in the Northeast and 1.4% in the South. Year-over-year, the PHSI increased 3.3% in the South, but declined 1.1% in the Midwest, 2.7% in the Northeast and 7.4% in the West. 

U.S. Median Home Price Increases 4.8% in Q3 2018, Slowest Rate of Annual Appreciation Since Q2 2016

ATTOM Data Solutions released its Q3 2018 U.S. Home Sales Report on Thursday which shows that U.S. single family homes and condos sold for a median price of $256,000 in the third quarter, up 1.0 percent from the previous quarter and up 4.8 percent from a year ago – the slowest pace of annual home price appreciation since Q2 2016. “The continued slowdown in the rate of home price appreciation nationwide and in many local markets is a rational response to worsening home affordability – which has deteriorated at an accelerated pace this year due to rising mortgage rates,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. “Markets not experiencing this price appreciation cool down may have more of an affordability cushion to work with, but some are in danger of overheating if home price gains continue to run hot.”

“I think the key factor underpinning the decelerating price appreciation is the impact of rising rates on the monthly payment,” said Tendayi Kapfidze, chief economist at mortgage marketplace Lending Tree. “Absent financing structures that allow a borrower to increase leverage while mitigating an increase in the monthly debt service, buying power is decreasing across the board. “This especially affects the marginal buyer who doesn’t have a lot of wiggle room,” Kapfidze added. “And if you remember your econ 101, the marginal buyer transacts at the market clearing price. So, while there is still strong demand, some potential buyers are falling out of the market and others are moving down in price with the aggregate effect being a moderation in price appreciation.”

Homeowners who sold in Q3 2018 sold for an average of $61,232 more than their original purchase price, the highest average home seller price gain since Q2 2007. The $61,232 average home seller price gain in Q3 2018 represented an average 32.3 percent return on the original purchase price, up from an average 31.6 percent return in the previous quarter and up from an average 31.4 percent return in Q3 2017. Among 156 metropolitan statistical areas analyzed for average home seller gains, those with the highest average home seller percentage gains were San Jose, California (108.7 percent gain); San Francisco, California (77.3 percent gain); Seattle, Washington (69.8 percent gain); Santa Rose, California (67.9 percent gain); and Salem, Oregon (63.4 percent gain). Along with San Jose, San Francisco and Seattle, other metro areas with a population of at least 1 million and average home seller percentage gains of more than 55 percent were Portland, Oregon (59.6 percent gain); Boston, Massachusetts (58.1 percent gain); Los Angeles, California (58.0 percent gain); Nashville, Tennessee (56.5 percent gain); and Salt Lake City, Utah (56.5 percent gain).

Homeowners Are Staying Put Longer Than Ever Before

Homeowners are staying in place longer than ever before, despite the growing amount of equity in their homes. A new report from First American – a provider of title insurance, settlement services and risk solutions for real estate transactions – reveals that the median tenure for homeownership has jumped to 10 years, up 10% from last year. By comparison, the median tenure in the pre-crash days of 2007 was four years, and in the aftermath of the market’s meltdown – when many homeowners couldn’t move because they were underwater on their properties – the median tenure was seven years. “There is less incentive to sell your home if borrowing the same amount from the bank at today’s rates will be more expensive than your existing monthly mortgage payment,” said Fleming. “As rates rise, many existing homeowners are increasingly financially imprisoned in their own home by their historically low mortgage rate.” But, home prices have recovered over the last decade, Fleming points out, meaning that many homeowners have accumulated enough equity to sell their homes at a profit.

 

 


September’s Top Effects on the Housing Market

 

September’s Top Effects on the Housing Market

While the total number of sales is softer this year compared to last year, builder confidence remains strong according to the most recent National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released This Week in Real Estate. The West enjoys the highest regional HMI score of 74 as well as the largest year-over-year increase in single family construction starts at 14.6%. Below are a few highlights from the third week of October that influence our business:

Builder Confidence Rises One Point in October, Remains at Summer Levels
Builder confidence in the market for newly-built single-family homes rose one point to 68 in October on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Builder confidence levels have held in the high 60s since June. Builders continue to view solid housing demand, fueled by a growing economy and a nearly 50-year low for unemployment. Lumber price declines for three straight months from elevated levels earlier this summer have also helped to reduce some cost pressures, but builders will need to manage supply-side costs to keep home prices affordable. Looking at the three-month moving averages for regional HMI scores, the Northeast rose three points to 57 and the South edged up one point to 71. The West held steady at 74 and the Midwest fell two points to 57.

Existing-Home Sales Decline Across the Country in September
Existing-home sales declined in September after a month of stagnation in August, according to the National Association of Realtors®. All four major regions saw no gain in sales activity last month. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, fell 3.4 percent from August to a seasonally adjusted rate of 5.15 million in September. Sales are now down 4.1 percent from a year ago (5.37 million in September 2017). First-time buyers were responsible for 32 percent of sales in September, up from last month (31 percent) and a year ago (29 percent). All-cash sales accounted for 21 percent of transactions in September, up from August and a year ago (both 20 percent). Single-family home sales were at a seasonally adjusted annual rate of 4.58 million in September, down from 4.74 million in August, and are 4.0 percent below the 4.77 million sales pace from a year ago. Existing-home sales in the West fell 3.6 percent to an annual rate of 1.08 million in September, 12.2 percent below a year ago.

Single-Family Starts Flat in September
Total housing starts posted a decline in September due to flat conditions for single-family construction and a pullback for apartment development. Total starts declined 5.3% in September but are 6.4% higher for 2018 on a year-to-date basis, according to the joint data release from the Census Bureau and HUD. The pace of single-family starts was roughly flat in September, decreasing 0.9% to a seasonally adjusted annual rate of 871,000. Slight gains off the summer soft patch for single-family mirror a minor uptick of the NAHB/Wells Fargo Housing Market Index, now registering a score of 68. While builders are benefitting from recent declines in lumber prices (at least relative to spring and summer’s elevated levels), they continue to report concerns about labor access issues. On a year-to-date basis, single-family starts are 6% higher as of September relative to the first nine months of 2017. Single-family permits, a useful indicator of future construction activity, were up slightly (2.9%) in September and have registered a 5.6% gain thus far in 2018 compared to last year. With respect to housing’s economic impact, 54% of homes under construction in September were multifamily (607,000). The current count of apartments under construction is down slightly from a year ago. In September, there were 522,000 single-family units under construction, a gain of more than 9% from this time in 2017. Regional data show – on a year-to-date basis – mixed conditions. Single-family construction is down 1% for the year in the Midwest and flat in the Northeast. Single-family starts are up in the larger building regions of the South (4.9%) and the West (14.6%).

 

 


Portland Metro Weekend Planner: October 19-21, 2018

 

PORTLAND METRO WEEKEND PLANNER
OCTOBER 19-21, 2018

APPLE TASTING
THROUGH SUN – Taste from a variety of over 60 kinds of pears and apples. Learn how to make cider, listen to live music, and enjoy the kids area at the Portland Nursery.

DANCE FILM FEST
THROUGH SUN – Head to the opening night celebration of dance, take how-to classes, and watch a panel discussion.

PORTLAND VEGETARIAN FEST
SAT-SUN Veg Fest is Oregon’s premier plant-based food and lifestyle event. Learn about plant-based living, enjoy free samples, learn from fitness experts, chef demos and more!

HALLOWEEN TRAIL
THROUGH OCT 30 – Walk through this family friendly Halloween castle with a tunnel, bridge and a maze at the Wenzel family farm.

FRUIT SHOW
SAT-SUN – Taste test hundreds of varieties of your favorite fruits at the All About Fruit Show.

HOWLOWEEN AT THE ZOO
THROUGH OCT 28 – Bring the kids for the fun scavenger hunt, prizes and more at the Oregon Zoo.

RUN FOR BEER
THROUGH NOV 3 – Fun run along park trails with live entertainment and a celebratory drink at the Oregon Brewery Running Series.

THE 13TH DOOR
THROUGH NOV 3 – Creep through the oldest Halloween attraction in Portland as actors and creepy creatures haunt guests.

FEARLANDIA
THROUGH OCT 31 – View two attractions at Tigard’s haunted house! Sunday offers “not so scary tours.

LOST TREASURES COLLECTION SERIES
FRI-SUN – The Lost Treasures Collection, a series of rarely performed musical theatre productions, opens its ninth season at Lakewood Theatre Company with its production, On A Clear Day You Can See Forever, in three performances: Friday, October 19 at 7:00 PM and Saturday, October at 2:00 PM and 7:00 PM. On A Clear Day… is a musical from 1965 with book and lyrics by Alan Jay Lerner (Brigadoon, My Fair Lady) and music by Burton Lane (Finian’s Rainbow). This staged reading production is directed by NW acclaimed director Ron Daum and performed with stars of the local stage including, Alan Anderson and Corey Brunish. Light food fare, beer, wine and other beverages are available for purchase before and during the show.

PUMPKIN REGATTA FESTIVAL
SAT – Cheer on floating oversized pumpkins at the West Coast Giant Pumpkin Regatta. Dress up for the costume contest, pumpkin race, carving and more!

PORTLAND OPEN STUDIOS
THROUGH OCT 21 – Tour work from 100 Portland artists while learning about techniques and use of space.

HAUNTED HOUSES
THROUGH OCT 31 – Don’t miss haunted houses all over the city! Stop by the Fear Asylum in Milwaukie, Milburn’s Haunted Manor in Hubbard, and the House of Shadows in Gresham.

DREAMGIRLS
THROUGH OCT 28 – Watch the beloved Motown musical Dreamgirls, a rags to riches story with phenomenal music.

VANCOUVER METRO EVENTS

NIGHTMARES ON ELK ST.
THROUGH OCT 28 – Only the brave are welcome to visit a haunted attraction hosted by the Vancouver Elks.

COUNTY SCAREGROUNDS
THROUGH NOV 3 – Clark County Scaregrounds holds three haunted houses, carnival rides, and more on the 170-acre campus in Ridgefield.  

LANTERN TOUR
ONGOING – Take in an evening at Fort Vancouver with a guided lantern tour. Led by a Park Ranger, head through the Counting House, Fur Store, Chief Factor’s Home and the Bake House, as you learn aspects of each working area.

ZOMBIE BREWFEST
FRI – Taste Doomsday Brews dressed as a zombie! Win prizes from the costume contest, enjoy live music, and visit with Rojo the llama.

VANCOUVER FARMERS MARKET
THROUGH OCT 28 – The Downtown Market is home to over 250 vendors with fresh and local produce, flowers, plants, baked goods, delicious food, pet treats, and accessories for yourself, home, or garden.

WILD THINGS: THE POWER OF NATURE IN OUR LIVES
THROUGH SEPT 2019 – The Museum of Vancouver and Nature Vancouver present the exhibition Wild Things: The Power of Nature in Our Lives. Dives into life stories of local plants and animals and how they relate to each other and how they connect people to nature in the city.

MOVIES OPENING THIS WEEKEND

  • The Advocates
  • Can You Ever Forgive Me?
  • The Guilty
  • Change in the Air
  • Galveston
  • Halloween
  • High Voltage
  • Nigerian Prince
  • Viral Beauty
  • What They Had
  • Wildlife
  • Apollo 13

Click here for movie times and theaters.

FOR A COMPLETE LIST OF EVENTS IN THE AREA FOR THE ENTIRE MONTH, VISIT

www.events12.com/portland

www.bhhsnw.com


The Transitioning Market

 

The Transitioning Market

As the pace of home price appreciation begins to temper and available inventory rises, the need to educate homeowners of selling in a transitioning market as well as establishing new expectations intensifies. According to a report released by Trulia This Week in Real Estate 17.2% of U.S. listings experienced a price cut in August. That is the highest level of price cuts since 2014. Below are a few highlights from the second week of October that influence our business:

New Home Sales Dip, Still Stronger Than Last Year

The Mortgage Bankers Association (MBA) reports a drop in applications for the purchase of newly constructed homes last month. Those applications fell by 3.9 percent compared to August although they remained 8.2 percent higher than they were the previous September. “Even though new home sales decreased 3.9 percent over the month, the average monthly number of homes sold so far this year (648,000 units) is around 8 percent higher than a year ago, and last month’s 8.2 percent annualized gain in purchase applications points to continued demand for new homes,” said Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting. “Housing demand is still strong even as mortgage rates increase, and as a result, we’re still forecasting for modest growth in purchase origination volume in 2018.” Conventional loans accounted for 71.0 percent of applications and FHA loans for 16.0 percent. VA loans had an 11.9 percent share and 1.1 percent were for RHS/USDA loans.

Home Price Cuts Reach 4-Year High 

There was a significant increase in the share of homes that experienced a price cut in August 2018, according the latest data collected from Trulia. According to the report, in August 17.2% of U.S. listings had a price cut, which is an increase from 16.7% the previous year. This is the highest level of price cuts since 2014. Trulia reports in the majority of the first half of 2018 the share of listings with a price cut held steady from 2017, but began to climb in July and August. The report indicates that this can be attributed to the slowdown of home price growth and inventory levels that are beginning to rise. Trulia Housing Economist Felipe Chacon said buyers should be encouraged by signals in the market, however not every buyer will benefit equally. “Price reductions typically aren’t uniformly spread out across a given city – some neighborhoods might have a lot of listings with a reduced price, others may have none,” Chacon. “Our research shows that price cuts are much more prevalent in higher-cost neighborhoods, so budget-conscious buyers may have some trouble finding a bargain.” Of the top 100 metros, 63 had a year-over-year increase, and some of the most expensive and fastest growing markets experienced the largest jumps. Notably, the West Coast hosted some of the biggest year-over-year price cuts in August.

Q3 Foreclosure Activity Down 8% From Year Ago to Lowest Level Since Q4 2015

ATTOM Data Solutions released its Q3 2018 U.S. Foreclosure Market Report Thursday, which shows a total of 177,146 U.S. properties with foreclosure filings – default notices, scheduled auctions or bank repossessions – in the third quarter, down 6 percent from the previous quarter and down 8 percent from a year ago to the lowest level since Q4 2005 – a nearly 13-year low. U.S. foreclosure activity in Q3 2018 was 36 percent below the pre-recession average of 278,912 properties with foreclosure filings per quarter between Q1 2006 and Q3 2007 – the eighth consecutive quarter where U.S. foreclosure activity has registered below the pre-recession average. “A decade after poorly underwritten mortgages triggered a housing market crash, it’s clear that the foreclosure risk associated with those problem mortgages has faded – average foreclosure timelines have dropped to a two-year low, and the share of foreclosures tied to 2004 to 2008 loans has dropped well below 50 percent,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. “The biggest foreclosure risk in today’s housing market comes from natural disaster events such as the twin hurricanes of a year ago. Foreclosure starts spiked in the third quarter in many local markets impacted by those hurricanes.

 

 


Portland Metro Weekend Planner: October 12-14, 2018

PORTLAND METRO WEEKEND PLANNER
OCTOBER 12-14, 2018

HOOD RIVER HARVEST FESTIVAL
FRI-SUN – Try your hand at harvest crafts, bring the kids to the play area, or enjoy food paired with a cider and wine tasting.

CIRCA
THROUGH SAT – Watch a theatrical story described through the mediums of ballet and acrobatics.

HALLOWEEN TRAIL
THROUGH OCT 30 – Walk through this family friendly Halloween castle with a tunnel, bridge and a maze at the Wenzel family farm.

GREEN BUILDING SLAM
FRI – The Green Building Slam hosts builders of 10 innovative projects and a networking meeting.

GEM & MINERAL SHOW
THROUGH SUN – View rocks, minerals, fossils, jewelry and more at the Portland Regional Gem & Mineral show.

TEDx
SAT – Listen to 12 speakers discuss topics regarding decomposers, at Mt. Hood Roosevelt Theater.

THE 13TH DOOR
THROUGH NOV 3 – Creep through the oldest Halloween attraction in Portland as actors and creepy creatures haunt guests.

SALMON WEEKEND
SAT-SUN – Celebrate the Salmon Homecoming at Oxbow Regional Park, where salmon swim upstream to their birthplace for their final days.

BEER & CIDER BENEFIT
SUN – Sample specialty brews competing from local home brewers and professionals at this benefit for Oregon Wild, protecting our forests.

TANGO FESTIVAL
THROUGH OCT 15 Dance the night away with live music, classes, dancing and a fantastic Sunday dinner.

APPLE TASTING
THROUGH OCT 21 – Taste from a variety of over 60 kinds of pears and apples. Learn how to make cider, listen to live music and enjoy the kids area at the Portland Nursery.

PORTLAND OPEN STUDIOS
THROUGH OCT 21 – Tour work from 100 Portland artists while learning about techniques and use of space.

HAUNTED HOUSES
THROUGH OCT 31 – Don’t miss haunted houses all over the city! Stop by the Fear Asylum in Milwaukie, Milburn’s Haunted Manor in Hubbard, and the House of Shadows in Gresham.

 

VANCOUVER METRO EVENTS

 

JURASSIC QUEST
FRI-SUN – Experience the largest exhibit of mobile and lifelike dinosaurs in the U.S. Pet the walking dinosaurs, play with baby dinos, uncover fossils, or hop on a ride.

COUNTY SCAREGROUNDS
THROUGH NOV 3 – Clark County Scaregrounds holds three haunted houses, carnival rides, and more on the 170-acre campus in Ridgefield.  

CHILI COOK-OFF
SAT – Taste the best chili from English Estate Winery’s 9th Annual Chili Cook-Off, while enjoying live bluegrass and folk music.

CHELATCHIE PRAIRIE RAILROAD
SAT – Enjoy the view of fall leaves while eating a train dinner with music, appetizers and wine tasting.

VANCOUVER FARMERS MARKET
THROUGH OCT 28 – The Downtown Market is home to over 250 vendors with fresh and local produce, flowers, plants, baked goods, delicious food, pet treats, and accessories for yourself, home, or garden.

WILD THINGS: THE POWER OF NATURE IN OUR LIVES
THROUGH SEPT 2019 – The Museum of Vancouver and Nature Vancouver present the exhibition Wild Things: The Power of Nature in Our Lives. Dives into life stories of local plants and animals and how they relate to each other and how they connect people to nature in the city.

MOVIES OPENING THIS WEEKEND

  • All Square
  • Bad Times at the El Royale
  • Beautiful Boy
  • Better Start Running
  • First Man
  • Goosebumps 2: Haunted Halloween
  • Gosenell
  • Holy Camp!
  • Look Away
  • Son of Manjeet Singh
  • The Oath
  • Sunday’s Illness

Click here for movie times and theaters.

FOR A COMPLETE LIST OF EVENTS IN THE AREA FOR THE ENTIRE MONTH, VISIT

www.events12.com/portland

www.bhhsnw.com


Portland Metro Weekend Planner October 5-7, 2018

PORTLAND METRO WEEKEND PLANNER
October 5-7, 2018

HOME SHOW
THROUGH SUN – Head to the Portland Fall Home Show at the Portland Expo Center with home-improvement vendors, watch workshops and meet local vendors and decorators.

HALLOWEEN TRAIL
THROUGH OCT 30 – Walk through this family friendly Halloween castle with a tunnel, bridge and a maze at the Wenzel family farm.

FASHION SHOW
THROUGH OCT 6 – Join FashionNXT for their debut of spring & summer collection, stick around for the after party!

GREEK FESTIVAL
THROUGH SUN – Enjoy Greek food and beverages while listening to live music and watching traditional dance at the Portland Greek Festival.

PORTLAND TATTOO EXPO
FRI-SUN – Browse the latest in tattoo designs from the best artists around. Artists will be tattooing on this day as well, must be 18 or older.

GERMAN FILM FESTIVAL
THROUGH OCT 9 – Zeitgeist Northwest hosts the 9th Annual Portland German Film Festival with thought-provoking films streamed in German with English subtitles.

THE 13TH DOOR
THROUGH NOV 3 – Creep through the oldest Halloween attraction in Portland as actors and creepy creatures haunt guests.

COUNTY SCAREGROUNDS
THROUGH OCT 28 – Clark County Scaregrounds holds three haunted houses, carnival rides, and more on the 170-acre campus in Ridgefield.  

BIGFOOT FESTIVAL
SAT – Head to Logtoberfest for live country music, food and beverage vendors and bone-rattling stories of Sasquatch sightings.

KITE FESTIVAL
SAT-SUN – Lincoln City hosts the biggest Kite Festival in the West with kids activities, kite-making workshops a parade, and more!

WEIRD FILM FESTIVAL
FRI-SUN Film screenings of strange horror and weird tales with panel discussions, art, author meetings and more!

MINIATURE & DOLLHOUSE SHOW
SAT-SUN – Talk to local collectors, miniature masterpiece artists and workshops at the Monarch Hotel in Clackamas.

HAUNTED HOUSES
THROUGH OCT 31 – Don’t miss haunted houses all over the city! Stop by the Fear Asylum in Milwaukie, Milburn’s Haunted Manor in Hubbard, and the House of Shadows in Gresham.

VANCOUVER METRO EVENTS

FIRST FRIDAY
FRI – Enjoy a night out on the town with live music, stroll through participating art galleries and enjoy local cuisine.

OLD APPLE TREE FESTIVAL
SAT – Head to the celebration of the oldest Apple Tree in the West, planted 192 years ago at Fort Vancouver. Watch workshops, engage in hands-on arts and crafts, or bring your own apples and try a turn at the free apple pressing.

SOLE SUPPORT FOR PARKINSON’S WALK
SAT –  Walk along the river with friends and family to support and raise awareness for those with Parkinson’s disease.  This walk benefits Parkinson’s Resources, a local nonprofit offering medical care and wellness for families facing this disease in the Northwest.

VANCOUVER FARMERS MARKET
THROUGH OCT 28 – Home to over 250 vendors with fresh and local produce, flowers, plants, baked goods, delicious food, pet treats, and accessories for yourself, home, or garden.

WILD THINGS: THE POWER OF NATURE IN OUR LIVES
THROUGH SEPT 2019 – The Museum of Vancouver and Nature Vancouver present the exhibition Wild Things: The Power of Nature in Our Lives. Dives into life stories of local plants and animals and how they relate to each other and how they connect people to nature in the city.

MOVIES OPENING THIS WEEKEND

  • A Crooked Somebody
  • Crash
  • A Star is Born
  • Afsar
  • Heavy Trip
  • Hello Mrs. Money
  • Ride
  • Shine
  • Venom
  • The Church
  • Viking Destiny

Click here for movie times and theaters.

CLICK HERE TO VIEW THIS WEEK’S OPEN HOUSES

FOR A COMPLETE LIST OF EVENTS IN THE AREA FOR THE ENTIRE MONTH, VISIT

www.events12.com/portland

www.bhhsnw.com


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