Portland Metro Weekend Planner: September 21-23, 2018

 

PORTLAND METRO WEEKEND PLANNER
SEPTEMBER 21-23, 2018

THE PUMPKIN PATCH
THROUGH NOV 1 – Sauvie Island is home to a pumpkin patch, featuring a large corn maze, hay rides, barn animals and a cow train! Bring the kids, open every day.

FREE ADMISSION DAY
SAT – Head to your favorite museum for free admission day. Check out the website to see which locations are participating.

HOOD RIVER HOPS FESTIVAL
SAT – Join this family-friendly event with over 40 breweries and more than 60 fresh-hop beers, with a plethora of food vendors, and live music.

OREGON FLOCK AND FIBER FESTIVAL
SAT-SUN – Head to the Canby fairgrounds to learn about natural fibers from animals to plants. Watch workshops, demonstrations and livestock shows.

THE COLOR PURPLE
THROUGH OCT 28 – Tune in to this Tony Award-winning musical about a child journeying through womanhood to find the power of life and love.

BLOODY MARY FESTIVAL
SUN – The Bloody Mary Festival of Portland has food samples and various Marys to choose from along with craft spirits and live music.

BAKE SALE FOR A CAUSE
SUN – Head to this bake sale event to support Baby Blues connection and Depressed Cake Shop Portland, raising awareness of mental illness.

A WINE COUNTRY BIKE
SUN – Ride through wine country and enjoy a finish line BBQ, the ride has an option for 25 or 100-miles.

WAITRESS
THROUGH SEPT 23 – Head to Keller Auditorium for the award-winning play about a waitress and expert pie maker and her dream to journey out of her small town and loveless marriage.

METRODEMIC TRIVIA HUNT
THROUGH OCT 28 – Downtown Portland is being infected by an epidemic that only you can stop! Play this timed outdoor game to save as many people as possible, only with your brawn, brains and smartphones.   

OREGON SYMPHONY OPENING NIGHT
SUN – Join Renee Fleming at the Arlene Schnitzer concert hall for the opening night as she performs favorites and acclaimed songs she has recorded for films The Shape of Water, Bel Canto and Three Billboards Outside Ebbing, Missouri.

COLUMBIA RIVER GORGE TOUR
THROUGH NOV 1 – View waterfalls and the fruit loop at Mt. Hood with this full day tour that drives along the route and makes several fascinating stops along the way.

URBAN SCAVENGER HUNT
ALL MONTH – Smart Phone clues lead you on a fun & engaging walking tour of the city. Start in the heart of downtown at Pioneer Courthouse Square and go on a journey through the Arts District, on a streetcar ride and through the famous food carts.

VANCOUVER METRO EVENTS

PAINT YOUR PET
SUN – Paint your pet on included canvas and help the Humane Society for Southwest Washington, each ticket gives 10% of proceeds to the cause.

BEACH CLEANUP
SAT – Keep the playground clean and the beach at Frenchman’s Bar to keep our beautiful Columbia river clean, on the 4th Saturday of each month.

SW WASHINGTON ALS WALK
SAT – Walk with others to bring awareness to the fight against ALS and to provide hope.

SPIRIT TALES OF THE VANCOUVER BARRACKS
THROUGH OCT 27 – Service members, their families, and many others, walked its grounds, leaving behind many memories. Memories 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 these stories of the Vancouver Barracks’ past residents.

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

  • The House With A Clock In Its Walls
  • Fahrenheit 11/9
  • Life Itself
  • American Dresser
  • Colette
  • The Great Battle
  • Love, Glida
  • The Sisters Brothers
  • Tea With The Dames
  • The Pagan King
  • Assassination Nation
  • Qismat

Click here for movie times and theaters.

CLICK HERE TO VIEW THIS WEEK’S OPEN HOUSES

www.events12.com/portland

www.bhhsnw.com


Rising Home Equity: U.S. Reaches Record Numbers

Rising Home Equity: U.S. Reaches Record Numbers

Black Knight released This Week in Real Estate that homeowners available equity has reached a record sum. U.S. homeowners were sitting on more than $6 trillion worth of collective tappable home equity at the end of June. Below are a few highlights from the second week of September that influence our business:

Mixed Mortgage News: Refis Fall to Four-Year Low, But Purchases Climb Sharply

The signs were all there. It was clear that refinance originations were trending down as interest rates rose, but it’s still striking to see the results in black and white. According to newly released data from ATTOM Data Solutions, refinance originations fell to a four-year low during the second quarter, thanks to increases in interest rates. ATTOM’s Q2 2018 U.S. Residential Property Loan Origination Report, released Thursday morning, shows that there were 2,087,455 residential mortgages originated in Q2 2018, up 15% from the previous quarter and up less than 1% from a year ago. The results are bit of mixed bag, as purchase mortgages rose sharply over the previous quarter, while refis dropped to the lowest level since the first quarter of 2014. Broken down by type, there were 926,516 purchase mortgages originated in Q2 2018, up 39% from the previous quarter and up 1% from a year ago. There were 799,093 refis originated in Q2, down less than 1% from the previous quarter and down 2% from a year ago, falling to a nearly four-year low. Additionally, there were 361,845 Home Equity Lines of Credit originated in Q2 2018, up 4% from the previous quarter and up 2% from a year ago to the highest level since Q3 2008.

CoreLogic: 12.4% Year-Over-Year Increase in Mortgage Fraud Risk For the Second Quarter

CoreLogic released on Thursday its latest Mortgage Fraud Report showing a 12.4 percent year-over-year increase in fraud risk at the end of the second quarter, as measured by the CoreLogic Mortgage Application Fraud Risk Index. The analysis found that during the second quarter of 2018, an estimated one in 109 applications, or 0.92 percent of all mortgage applications, contained indications of fraud, compared with the reported one in 122, or 0.82 percent in the second quarter of 2017. “This year’s trend continues to show an increase in mortgage fraud risk year over year,” said Bridget Berg, principal of Fraud Solutions Strategy for CoreLogic. “Because home prices are rising, and demand is strong, most mortgage fraud in this type of market is motivated by bona fide borrowers trying to qualify for a mortgage. Undisclosed real estate liabilities, credit repair, questionable down payment sources and income falsification are the most likely misrepresentations.”

Homeowners Are Sitting on $6 Trillion in Available Cash, But They’re Not Tapping It

As prices continue to rise, so too does the amount of home equity available for homeowners to tap; and it has now reached a record sum. U.S. homeowners were sitting on more than $6 trillion worth of collective tappable home equity at the end of June, according to Black Knight. Tappable equity is the amount most lenders will allow borrowers to cash out, while still keeping 20 percent equity in the home. Borrowers gained $636 billion in the first half of 2018, pushing the total amount to nearly three times as much equity as there was at the housing market’s bottom in 2012. It is also 21 percent more than there was at the pre-crisis peak in 2006. Approximately 44 million homeowners with mortgages can now access cash through cash-out refinances or home equity lines of credit (HELOCs). On average, per person, that’s about $138,000. Homeowners withdrew about $65 billion in home equity in the second quarter of this year. The draw was actually down 3 percent from the same period a year ago. Homeowners withdrew just 1.13 percent of tappable equity, the lowest share since the start of 2014. “At this point last year, homeowners were tapping 17 percent more of available equity than today, which suggest that if rates on cash-out refinances and HELOCs had held steady, we’d see about $13 billion more equity being accessed.”

Have a productive week.

Jason


Portland Metro Weekend Planner: September 14-16, 2018

PORTLAND METRO WEEKEND PLANNER
SEPTEMBER 14-16, 2018

OMSI MAKER FAIR
SAT-SUN – Join engineers and artists alike as crafters show off their hobbies, experiments and projects for the “Greatest Show & Tell on Earth.”

EDGY ARTS FESTIVAL
THROUGH SUN – Experience the time based art festival, bringing artists and audiences together with music, live performances, screenings, visual art, workshops and more!

MT. ANGEL OKTOBERFEST
THROUGH SUN – Join in on the harvest celebration of German heritage, food and drink for this weekend of family fun.

FALL ROSE SHOW
SAT – Stop and smell the roses at the Portland Rose Society’s Fall Rose Show with America’s largest and longest-running show featuring roses.

THE COMEDY GET DOWN
FRI – Watch as four hilariously famous comedians take the stage at the Moda Center for a night of laughs and stand-up. Featuring Cedric The Entertainer, Eddie Griffin, George Lopez and D.L. Hughley.

HISTORY NIGHT
SAT – The Willamette Living History Tour takes you back to the year 1908. The whole town transforms into an early 1900’s replica with historical reenactment.

CIDER SQUEEZE
FRI-SUN – Head to Eagle Creek and travel back in time. Learn how cider is pressed and watch demonstrations of craftsmen. Live music all day! Bring your own apples and jars for take-home homemade cider. 

BRUNCH VILLAGE
SUN – Join Feast Portland to celebrate the most important meal of the day with a mixture of international dishes.

1940’S MUSICAL
SUN – Get your tickets to this production highlighting music of Glenn Miller, Tommy Dorsey, and Benny Goodman in a stage show showcasing the flair of the 40’s.

INTERNATIONAL FESTIVAL
SAT – Celebrate the diverse community of Beaverton with food, art, fashion, music and dance.

SELF-CARE DAY
SUN Pamper yourself with massage therapists, tarot readers, reiki and face masks in an effort to help you take a step back and relax.

SHAPE OF SPEED
THROUGH SEPT 16 – Don’t miss the last weekend of this powerful exhibit displaying automobiles throughout time.

END OF SUMMER ZOO PARTY
SAT – Join the Oregon Zoo for an end of summer festival with Oregon beverage samples and live music. Don’t miss the incredible food that pairs excellently with the locally crafted beer and wine.

DETECTIVE MYSTERY
THROUGH SEPT 23 – Play the role of detective as you watch a theatrical deceptive romantic thriller from the Twilight Theater Company.

SKELETON CREW
THROUGH SEPT 30 – Award winning play about the collapse of the 2008 Detroit auto industry, showcasing the importance of one of the city’s last auto plants and what happens to society when a legacy closes down.

VANCOUVER METRO EVENTS

APPLETREE MARATHON
SAT-SUN – Need a good run? Sign up for the (Boston-qualifying) marathon, half marathon or the Sunset 5K.

NORTH BANK BEER WEEK
THROUGH SEPT 15 – Taste the celebration of Southwest Washington Beer, from the mouth of the Columbia to White Salmon. Head to their website to see the participating vendors.

SHERLOCK HOLMES COMEDY
THROUGH SEPT 19 – This classic whodunit is full of disguises and deceit, accents and fast paced adventure. Catch this show at the Magenta Theater.

SPIRIT TALES OF THE VANCOUVER BARRACKS
THROUGH OCT 27 – Service members, their families, and many others, walked its grounds, leaving behind many memories. Memories 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 these stories of the Vancouver Barracks’ past residents. 

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

  • The Predator
  • A Simple Favor
  • White Boy Rick
  • Bel Canto
  • The Riot Act
  • A Wizard’s Tale
  • MDMA
  • Patient Zero
  • Lizzie
  • Don’t Leave Home

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


This Week in Real Estate: September 10, 2018

 

CoreLogic released its most recent Home Price Index Forecast This Week in Real Estate expecting a 5.1 percent price appreciation between July 2018 to July 2019. Below are a few highlights from the first week of September that influence our business:

* Lot Values Climb Higher. According to NAHB’s analysis of the Census Bureau’s Survey of Construction (SOC) data, single-family lot prices reached new record high in 2017, with half of the lots priced at or above $47,400. While this constitutes a new nominal record, lot values adjusted for inflation have not reached the housing boom peaks. In the midst of the housing boom – when twice as many single-family homes were started – half of the lots were going for over $43,000, which is over $50,000 when converted in 2017. The rising lot values are most pronounced in the West South Central and West North Central divisions where lot values hit new historical records – not only in nominal terms but also when adjusted for inflation – in 2017. In the West South Central division (that includes Texas, Oklahoma, Arkansas, and Louisiana), lot values had traditionally been below the national median. They caught up with the national median in 2015, surpassed it in 2016, and surged even higher in 2017, with half of the lots selling for more than $56,000. This represents a significant jump in the division lot values since the housing boom years when more than half of lots were priced under $30,000. The West North Central division also established a new record high, with half of the lots priced above $64,000, significantly exceeding the lot values of the boom era. Single-family spec homes started in New England are built on some of the most expensive lots in the nation. Half of all sold single-family homes started in New England in 2017 report lot values in excess of $128,000, by far exceeding the national median lot value for single-family spec homes of $47,400. 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 $84,000, the second most expensive value in the nation. 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/2018/09/lot-values-climb-higher/

* CoreLogic: July Home Prices Increase by 6.2%CoreLogic released on Tuesday the CoreLogic Home Price Index (HPI) and HPI Forecast for July 2018, which shows home prices rose both year-over-year and month-over-month. Home prices increased nationally by 6.2 percent year-over-year from July 2017 to July 2018. On a month-over-month basis, prices increased by 0.3 percent in July 2018 compared with June 2018. Looking ahead, the CoreLogic HPI Forecast indicates that the national home-price index is projected to continue to increase by 5.1 percent on a year-over-year basis from July 2018 to July 2019. On a month-over-month basis, home prices are expected to decrease by 0.2 percent from July to August 2018. “With increased interest rates and home prices, the CoreLogic Home Price Index is rising at a slower rate than it was earlier this year,” said Dr. Frank Nothaft, chief economist for CoreLogic. “While markets in the western part of the country continue to experience rapid home-price growth, many of those metros are overvalued, and will likely experience a slowdown soon.”
Full Story… https://www.corelogic.com/news/corelogic-reports-july-home-prices-increased-by-6.2-percent-homeowners-waiting-to-sell-for-anticipated-increase-return-on-invest.aspx

* U.S. Construction Spending Rises Slightly in July. The Commerce Department said construction spending barely rose in July as increases in homebuilding and investment in public projects were overshadowed by a sharp drop in private nonresidential outlays. Construction spending edged up 0.1 percent. Data for June was revised up to show construction outlays declining 0.8 percent instead of the previously reported 1.1 percent drop. Economists polled by Reuters had forecast construction spending increasing 0.5 percent in July. Construction spending increased 5.8 percent on a year-on-year basis. Spending on private residential projects rebounded 0.6 percent in July following two straight months of declines. While homebuilding rose in July, the overall trend has slowed, with builders continuing to complain about rising material costs as well as persistent land and labor shortages. Residential investment contracted in the first half of the year.
Full Story… https://www.cnbc.com/2018/09/04/us-construction-spending-rises-slightly-in-july.html?__source=mnd%7Cnews%7C&par=mnd

Have a productive week.

Jason


Portland Metro Weekend Events Planner: September 7-9, 2018

 

PORTLAND METRO WEEKEND PLANNER
SEPTEMBER 7-9, 2018

FOLK MUSIC FESTIVAL
FRI-SUN – Head to Sisters for the folk festival of the year! Listen to music covering over eleven stages right in the heart of Oregon’s mountain and river country.

AMERICAN INDIAN DAY CELEBRATION
FRI Join the Northwest Portland Area Indian Health Board to celebrate with food vendors, educational booths, entertainment and more!

SONGS OF BROADWAY
THROUGH OCT 8 – Enjoy a musical revue with songs from the favored classics like Guys & Dolls, My Fair Lady, The Sound of Music and more!

ROSE CITY COMIC CON
FRI-SUN – Comic book fans unite at the convention covering books, games, sci-fi and pop culture. Meet artists, celebrities, publishers and more!

BEER & BBQ FESTIVAL
FRI-SUN – Head to the heart of McMinnville and sample from over 50+ taps and 35+breweries paired with delectable barbecue and live music.

AIDS WALK
SAT – Bring the family for this fun-filled 2.40-mile walk to raise awareness and funds for the fight against HIV/AIDS.

HARVEST FESTIVAL
SAT – Spend a weekend in wine country, join this grape stomping competition with live music, kids activities and more!

CLAM CHOWDER FESTIVAL
SAT – Lincoln City Chowder & Brewfest features fresh caught seafood chowder, craft beer and live music.

RENAISSANCE FAIR
SAT-SUN Shrewsbury Renaissance Faire teaches the history of interactive living through faire play, a village marketplace, live music and more!

TOY FAIR
FRI-SUN – Play with hands-on exhibits from toy and entertainment brands and meet life-sized characters from pop culture brands.

SING ALONG
SUN – Join in on this sing along with popular singing groups at Pioneer Courthouse Square.

OREGON ZOO CONCERTS
THROUGH SEPT 12 – Head to the Oregon Zoo to catch the remaining shows in the Summer Concert Series.

SKELETON CREW
THROUGH SEPT 30 – Award winning play about the collapse of the 2008 Detroit auto industry, showcasing the importance of one of the city’s last auto plants and what happens to society when a legacy closes down.

VANCOUVER METRO EVENTS

SHERLOCK HOLMES COMEDY
THROUGH SEPT 22 – This classic whodunit is full of disguises and deceit, accents and fast paced adventure. Catch this show at the Magenta Theater.

FIRST FRIDAY
FRI – Don’t miss First Friday with downtown galleries in over ten locations!

DINNER ON THE COLUMBIA
SAT – Dinner in white on the Columbia features food, music and wonderful company. This event is fundraising for a ‘bigger and better’ Washougal library.

SPIRIT TALES OF THE VANCOUVER BARRACKS
THROUGH OCT 27 – Service members, their families, and many others, walked its grounds, leaving behind many memories. Memories 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 these stories of the Vancouver Barracks’ past residents.

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

  • Manu
  • Perfect Blue
  • City of Lies
  • Diane
  • God Bless The Broken Road
  • Mara
  • Peppermint
  • The Favorite
  • The Nun
  • Paltan
  • Paper Boy

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


This Week in Real Estate: September 4, 2018

 

Jobs and interest rates have always been two key indicators in determining current real estate market conditions as well as forecasting the future market. Equally important is consumer confidence. The Conference Board released This Week in Real Estate it’s August index, which rose to its highest level since October 2000. Below are a few highlights from the last week of August that influence our business:

* Consumer Confidence Pops in August to Highest Level Since October 2000. Consumer confidence rose in August to its highest level since October 2000, building on July’s solid result. The Conference Board’s index climbed to 133.4 in August. August saw that optimism increase among consumers, the Conference Board found, with the percentage of consumers expecting business conditions will get better over the next six months increasing to 24.3 percent from 22.9 percent. “These historically high confidence levels should continue to support healthy consumer spending in the near-term,” said Lynn Franco, director of economic indicators at The Conference Board.
Full Story… https://www.cnbc.com/2018/08/28/august-consumer-confidence.html?__source=realestate%7Cnews%7C&par=realestate

* NAR Sees Overheated Housing Market Starting to CoolNAR’s July Pending Home Sales Index (PHSI) came in at 106.2, down from an upwardly revised (from 106.9) 107.0 in June, a decline of 0.7 percent. The decrease put the PHSI 2.3 percent behind its level in July 2017.  It was the seventh straight month the NAR’s leading indicator for existing home sales has trailed on an annual basis. Lawrence Yun, NAR chief economist, says the housing market’s summer slowdown continued in July. “Contract signings inched backward once again last month, as declines in the South and West weighed down on overall activity,” he said. “It’s evident in recent months that many of the most overheated real estate markets – especially those out West – are starting to see a slight decline in home sales and slower price growth.” Yun added, “The reason sales are falling off last year’s pace is that multiple years of inadequate supply in markets with strong job growth have finally driven up home prices to a point where an increasing number of prospective buyers are unable to afford it.” There has been some increase in listings of available homes in some large metro areas, especially those in the West and Yun said this may help cool price growth and make homes more affordable going forward. Listings were up in several areas which have been especially “hot” including Denver, Nashville, Portland Oregon, and the California metro areas of Santa Rosa and San Jose. “Rising inventory levels – especially if new home construction finally starts picking up – should help slow price appreciation to around two-and-four percent, which will help aspiring first-time buyers, and be good for the long-term health of the nation’s housing market,” said Yun. In its July existing home sales report NAR put the year-over-year appreciation at 4.5 percent.
Full Story… http://www.mortgagenewsdaily.com/08292018_pending_home_sales.asp

* Lot Size Remains Record Low. The median lot size of a new single-family detached home sold in 2017 stands at 8,560 square feet, or just under one-fifth of an acre. This is just 2 square feet smaller but statistically not different from the 2016 median. In 2015, 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. It remained in this record low territory ever since. 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 2017, the median lot size in New England is twice as large as the national median. 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/2018/08/lot-size-remains-record-low/

Have a productive week.

Jason


Portland Metro Weekend Planner: August 31-September 2, 2018

 

PORTLAND METRO WEEKEND PLANNER
AUGUST 31-SEPTEMBER 2, 2018

PIONEER WAGON RIDE
THROUGH AUG 31 – Celebrate the 175th anniversary of the Oregon Trail at the Oregon Historical Society Museum with an Oregon trail experience wagon ride around Downtown Portland.

OREGON STATE FAIR
THROUGH SEPT 3 – Enjoy carnival rides, eat outrageous carnival food, and watch live entertainment from the concert lineup.

PIRATE FESTIVAL
THROUGH SEPT 3 – Tortuga Pirate Festival sets sail with a weekend of shenanigans, ships and a bonfire for adults to enjoy.

FITNESS FUR ALL
SAT – Take your pooch down to the waterfront for a dog-friendly walk to fundraise with Animal Aid, the no-kill animal rescue and welfare organization.

CONCERTS IN THE PARK
THROUGH SEPT 7 – Head to Portland parks, bring a blanket or chairs and hear music from country to classic rock and roll and rhythm & blues.   

CREATE ICE SCUPLTURES
SUN – Winter is here! Join this ice carving workshop and try your hand at carving techniques using chisels and step-by-step instruction.

TRAIL PARTY
SAT – Head to the Upper Angels Rest trail for a work party to help restore the beloved trail after the disastrous fire last year. Checkout the website to see what to bring before you go.

MAKE MACARONS
SAT – Head to Bob’s Red Mill Cooking School to learn how to make macarons with two different methods for French and Italian flair. These delicious treats are both wheat free and vegan!

CONCERTS IN THE PARK
THROUGH SEPT 7 – Summer is coming to an end, don’t miss the last of the concerts in the park series.

INDYCAR SERIES
FRI-SUN – Don’t miss the Grand Prix of Portland, see international IndyCar drivers as they race for 1st place in Sunday’s 102 lap race.

THE SHAPE OF SPEED
THROUGH SEPT 16 – The Portland Art Museum’s latest exhibit features a ride back in time looking at the evolution of automobiles and two-wheelers from 1930. This summer will host 19 rare US and European vehicles and motorcycles.

COLUMBIA RIVER GORGE TOUR
THROUGH NOV 1 – View waterfalls and the fruit loop at Mt. Hood with this full day tour that drives along the route and makes several fascinating stops along the way.

URBAN SCAVENGER HUNT
ALL MONTH – Smart Phone clues lead you on a fun & engaging walking tour of the city. Start in the heart of downtown at Pioneer Courthouse Square and go on a journey through the Arts District, on a streetcar ride and through the famous food carts.

OREGON ZOO CONCERTS
THROUGH SEPT 12 – Head to the Oregon Zoo to catch the remaining shows in the Summer Concert Series.

SKELETON CREW
THROUGH SEPT 30 – Award winning play about the collapse of the 2008 Detroit auto industry, showcasing the importance of one of the city’s last auto plants and what happens to society when a legacy closes down.

VANCOUVER METRO EVENTS

SCANDINAVIAN COOKING WORKSHOP
SAT – Head to the Ridgefield Community Center to learn how to cook delicious authentic Scandinavian food.

URBAN ABUNDANCE HARVEST PARTY
SAT – Help harvest the orchard and collect fresh produce to be donated to the food bank. Volunteers are welcome to take their pickings home.

SPIRIT TALES OF THE VANCOUVER BARRACKS
THROUGH OCT 27 – Service members, their families, and many others, walked its grounds, leaving behind many memories. Memories 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 these stories of the Vancouver Barracks’ past residents.

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

  • Operation Finale
  • Kin
  • Active Measures
  • Big Brother
  • Blood Fest
  • The Little Stranger
  • Pick of the Litter
  • Reprisal
  • Slave to the Grind
  • Active Measures
  • Chasing the Win
  • Destination Wedding
  • Inventing tomorrow
  • S.M.A.R.T. Chase

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


This Week in Real Estate: August 27, 2018

According to a release by the National Association of Realtors This Week in Real Estate, continued price appreciation is the main contributing factor of the decline in sales from a year earlier for the fifth straight month in July. Below are a few highlights from the fourth week of August that influence our business:

* Single-Family Built-for-Rent Housing Expands. The number of single-family homes built-for-rent increased over the last four quarters. During this time period, construction starts of this type of housing totaled 42,000 homes, compared to 29,000 for the prior four quarters. There were 13,000 single-family built-for-rent starts for the second quarter of 2018. According to data from the Census Bureau’s Quarterly Starts and Completions by Purpose and Design and NAHB analysis, the market share of single-family homes built-for-rent, as measured on a one-year moving average, stood at 4.7% of single-family starts as of the second quarter of 2018. Despite the current elevated market concentration, the total number of single-family starts built-for-rent remains low in terms of the total size of the building market. The current market share remains higher than the recent historical average of 2.7% (1992-2012) but is down from the 5.8% reading registered at the start of 2013.
Full Story… http://eyeonhousing.org/2018/08/single-family-built-for-rent-housing-expands/

* Home Price Gains Continue to Dampen DemandExisting home sales posted their fourth straight loss in July and have dropped to their slowest pace since February 2016The National Association of Realtors (NAR) said sales of previously owned single-family houses, townhouses, condos, and cooperative apartments were at a seasonally adjusted annual rate of 5.34 million units last month. This is a 0.7 percent decline from the 5.38 million units reported for June and puts sales behind those of a year earlier for the fifth straight month, this time by 1.5 percent. Single-family home sales declined by 0.2 percent to a seasonally adjusted annual rate of 4.75 million from 4.76 million in June. They are now running 1.2 percent below the 4.81 million sales pace a year ago. The West saw the only gain, 4.4 percent to an annual rate of 1.19 million in July, but sales are still 4.0 percent below a year ago. The median price in the West was up 5.1 percent to $392,700.
Full Story… http://www.mortgagenewsdaily.com/08222018_existing_home_sales.asp

* Big Win for Realtors on IRS Guidance for 20% Income Deduction. The deduction was part of the big tax reform law Congress passed at the end of last year and it was a huge win for REALTORS. But it was unclear who would be eligible for the deduction. Now that proposed regulations are out, it’s clear the new deduction will be available to a wide range of real estate professionals. Under the new deduction is available for tax years beginning after Dec. 31, 2017. You’ll be able to claim it for the first time on the 2018 federal income tax return you file next year. Look for detailed NAR guidance by mid-September. It’s a complicated provision and how it works for you will depend on many factors unique to your business structure and your income.
Full Story… http://speakingofrealestate.blogs.realtor.org/2018/08/09/big-win-for-realtors-on-irs-guidance-for-20-income-deduction/

Have a productive week.

Jason


Portland Metro Weekend Planner: August 24-26, 2018

 

PORTLAND METRO WEEKEND PLANNER
AUGUST 24-26, 2018

FARM FOOD FESTIVAL
FRI-SUN – Enjoy this three-day food and wine festival with local vendors and one-of-a-kind culinary creations. Proceeds benefit the Yamhill Enrichment Society.

ITALIAN FESTIVAL
FRI-SAT Festa Italiana Portland with live music, dancing and traditional food at Pioneer Courthouse Square.

FAIRY FESTIVAL
FRI-SAT – World’s largest Faerie Festival, wear a costume and enjoy entertainment, music, a food court, crafts and literature with more than 150 vendors.

OREGON STATE FAIR
FRI-SUN Bring the family and enjoy classic fair food, browse farm animals on display and hop on carnival rides.

DAHLIA FESTIVAL
SAT – Over 400 floral arrangements of Dahlias inside and 30 acres of dahlias. Learn how to grow and arrange these beautiful flowers with demonstrations and workshops.

STREET OF DREAMS
SAT-SUN – Don’t miss the final weekend of the Street of Dreams! This year features six homes in the largest master planned community in Oregon in South Hillsboro on the golf course.

HAWTHORNE STREET FAIR
SUN – Join the Shop Local district, where your purchases matter. View over 100+ businesses involved in making the community a better place.

ARTIST EXHIBIT: MICHAEL ABRAMSON
SAT – Artist’s compilation of black and white gelatin silver prints by photographer Michael Abramson, capturing the spirit and styles of nightclubs on Chicago’s South side during the 1970’s.

BLUEGRASS PICKER’S FEST
FRI-SUN – Dance to music in the mountains and stay all weekend by camping in Rhododendron.  

JADE INTERNATIONAL NIGHT MARKET
SAT – Celebrate the 4th annual market where multicultural Portland communities come together in the Jade district. Support small businesses and watch cultural performances!

THE SHAPE OF SPEED
THROUGH SEPT 16 – The Portland Art Museum’s latest exhibit features a ride back in time looking at the evolution of automobiles and two-wheelers from 1930. This summer will host 19 rare US and European vehicles and motorcycles. 

COLUMBIA RIVER GORGE TOUR
THROUGH NOV 1 – View waterfalls and the fruit loop at Mt. Hood with this full day tour that drives along the route and makes several fascinating stops along the way.

URBAN SCAVENGER HUNT
ALL MONTH – Smart Phone clues lead you on a fun & engaging walking tour of the city. Start in the heart of downtown at Pioneer Courthouse Square and go on a journey through the Arts District, on a streetcar ride and through the famous food carts.

BEAVERTON NIGHT MARKET
ALL MONTH – Join the family friendly event with ethnic food and crafts as well as performers celebrating from around the world.

TOUR & TRIVIA
THROUGH SEPT 15 – Save the city of Portland from a supervirus by exploring downtown and discovering local sites. Each site is an outbreak and it’s up to you to save it!

VANCOUVER METRO EVENTS

VANCOUVER WINE & JAZZ FESTIVAL
FRI-SUN – Shop, eat, drink and dance at Esther Short Park in Vancouver. This year’s music theme featuring “The Power of Women.”

ENDLESS SUMMER CRUISE-IN
SAT – Browse the 34th annual car show with proceeds benefiting the Northwest Battle Buddies.

SPIRIT TALES OF THE VANCOUVER BARRACKS
THROUGH OCT 27 – Service members, their families, and many others, walked its grounds, leaving behind many memories. Memories 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 these stories of the Vancouver Barracks’ past residents.

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.X.L.
  • The HappyTime Murders
  • Beautifully Broken
  • Blue Iguana  
  • An L.A. Minute
  • Papillion
  • Searching
  • Support The Girls

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


This Week in Real Estate: August 20, 2018

While the national median single-home price in the second quarter reached a new peak, single family starts is 6.2% higher than same time last year according to the joint release This Week in Real Estate by the Census Bureau and HUD. Permits are up 7.5% compared to same time last year while the number of homes for which permits have been authorized but construction has not started is up 25% compared to last year. Below are a few highlights from the third week of August that influence our business:

* Flat Conditions for Housing Starts. Total housing starts posted a slight increase in July as markets face headwinds in the form of rising construction costs and growing affordability concerns. Total housing starts increased 0.9% in July to a seasonally adjusted annual rate of 862,000. That is 6.2% higher for 2018 on a year-to-date basis, according to the joint data release from the Census Bureau and HUD. However, builders continue to report concerns about ongoing labor access issues and elevated prices for softwood lumber, although recent weeks have seen price declines. On a year-to-date basis, single-family starts are 7.2% higher as of July relative to the first seven months of 2017, performing slightly worse than our forecast. Single-family permits, a useful indicator of future construction activity, were up slightly (1.9%) in July and have registered a 7.5% gain thus far in 2018 compared to last year. It is also worthwhile to note that there have been gains in the count of homes for which permits have been authorized but construction has not started. For single-family homes, there are currently 97,400 permitted units that have not begun construction. This is up 25% from July of 2017, when the total was 77,800. This increase is consistent with NAHB survey data indicating a pause in some planned construction activity due to the increase in building material costs during the first part of 2018.
Full Story… http://eyeonhousing.org/2018/08/flat-conditions-for-housing-starts/

* Metro Home Prices Climb to New All-Time HighAmidst staggeringly low inventory levels in much of the country during the second quarter, existing-homes sales cooled and home prices maintained their robust level of appreciation, according to the latest quarterly report by the National Association of Realtors. The national median existing single-family home price in the second quarter was $269,000, which is up 5.3 percent from the second quarter of 2017 ($255,400) and surpasses last year’s second quarter as the new peak. The median sales price during this year’s first quarter increased 5.7 percent from the first quarter of 2017. Single-family home prices last quarter increased in 90 percent of measured markets, with 161 out of 178 metropolitan statistical areas (MSAs) showing sales price gains in the second quarter compared to a year ago. Twenty-four metro areas (13 percent) experienced double-digit increases, down from 30 percent in this year’s first quarter. In the West, existing-home sales in the second quarter decreased 4.1 percent and are 3.6 percent below a year ago. The median existing single-family home price in the West increased 8.3 percent to $403,300 in the second quarter from the second quarter of 2017.
Full Story… https://www.nar.realtor/newsroom/metro-home-prices-climb-to-new-all-time-high-rise-53-percent-in-second-quarter

* New Single-Family Home Size Continues Downward Trend. Continuing a multiyear trend, new single-family home size decreased during the second quarter of 2018. New home size has been falling over the last two years due to an incremental move to additional entry-level home construction. According to second quarter 2018 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area decreased to 2,344 square feet. Average (mean) square footage for new single-family homes declined to 2,555 square feet. The post-recession increase in single-family home size is consistent with the historical pattern coming out of recessions. Typical new home size falls prior to and during a recession as home buyers tighten budgets, and then sizes rise as high-end homebuyers, who face fewer credit constraints, return to the housing market in relatively greater proportions. This pattern was exacerbated during the current business cycle due to market weakness among first-time homebuyers and supply-side constraints in the building market. But the recent declines in size indicate that this part of the cycle has ended, and size will trend lower as builders add more entry-level homes into inventory.
Full Story… http://eyeonhousing.org/2018/08/new-single-family-home-size-continues-downward-trend/

Have a productive week.

Jason


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