This Week in Real Estate with Jason Waugh: Dec. 5, 2016

image001Home price appreciation has been a consistent story in real estate the past 3 years, so it was simply a matter of time before the data supported findings similar to the ones reported This Week in Real Estate. Case-Shiller released their National Home Price Index on Tuesday concluding the Index reached an all-time high at the end of the third quarter. Below are a few highlights from the final week of November that influence our business:

* Case-Shiller National Index at New All-Time High. Home prices finally surpassed all-time highs set in July 2006 as the housing boom topped out. According to the latest data released Tuesday by the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which covers all nine U.S. census divisions, recorded a 5.5% annual gain in September, up from 5.1% last month. Seattle, Portland and Denver were again the cities in the 20-City Composite with the highest rate of annual appreciation. Seattle led the way with an 11% year-over-year price increase, followed by Portland with 10.9%, and Denver with an 8.7% increase.
Full Story… https://www.spice-indices.com/idpfiles/spice-assets/resources/public/documents/443948_cshomeprice-release-1129.pdf?force_download=true

* Consumer Confidence Now Back to Pre-Recession Levels. With the ongoing job and economic growth, in November consumer confidence improved. Consumers were optimistic about the current situation and the near term outlook. The Conference Board reported that the Consumer Confidence Index jumped to 107.1 in November, from an upwardly revised 100.8 in October. Both the present situation index and the expectations index rebounded. The present situation index increased to 130.3, from 123.1 and the expectations index hit 91.7, up from 86. This brings the index back to pre-recession levels. The index stood at 111.9 in July 2007. “A more favorable assessment of current conditions coupled with a more optimistic short-term outlook helped boost confidence,” said Lynn Franco, The Conference Board director of economic indicators.
Full Story…  http://www.housingwire.com/articles/38634-consumer-confidence-now-back-to-pre-recession-levels?eid=322520585&bid=1601529

* Pending Home Sales Maintain Pace. The Pending Home Sales Index increased a slight 0.1% in October, but was 1.8% higher than last October. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased 110.0 in October from a downwardly revised 109.9 in September. The PHSI increased 1.6% in the Midwest, 0.7% in the West, and 0.4% in the Northeast, but fell 1.3% in the South. Year-over-year, the PHSI increased in all regions, ranging from 3.9% in the Northeast to 0.8% in the South. Commenting on the continued tight supply of homes for sale, NAR reported that 40% of October sales were at or above list price, compared to 33% last October.
Full Story… http://eyeonhousing.org/2016/11/pending-sales-maintain-pace/

Have a productive week.
Jason


This Week in Real Estate: Nov. 28, 2016

image001Strong October existing home sales reported This Week in Real Estate result in the highest annualized pace of sales since February 2007 and the federal government acknowledges the continued price appreciation by increasing the conforming loan limit in 2017. Below are a few highlights from the fourth week of November that influence our business:

* Existing Sales Revival. Existing home sales, as reported by the National Association of Realtors (NAR), increased 2.0% in October to become the highest annualized pace since February 2007. October 2016 sales were up 5.9% from the same month a year ago. Total existing home sales in October increased to a seasonally adjusted rate of 5.60 million units combined for single-family homes, townhomes, condominium and co-ops, up from an adjusted 5.49 million units in September. October existing sales increased in all four regions, ranging from 2.8% in the South to 0.8% in the West. Year-over-year, October sales also increased in all regions, ranging from 10.4% in the West to 1.4% in the Northeast. Total housing inventory decreased slightly by 0.5% in October, and remains 4.3% lower than its level a year ago. At the current sales rate, the October unsold inventory represents a 4.3-month supply, compared to a 4.4-month supply in September. The first-time home buyer share was 33% in October, down a point from the solid September report, but above the first-time buyer share of 31% in October 2015. The October median sales price of $232,200 was 6.0% above the same month a year ago, and represents the 56th consecutive month of year-over-year increases.
Full Story… http://eyeonhousing.org/2016/11/existing-sales-revival/

* Conforming Mortgage Limits Rise for 2017. For the first time since 2006 the Federal Housing Finance Agency (FHFA) announced Wednesday that the limit for conforming mortgages for single-family homes will increase from $417,000 to $424,100 in most regions of the United States starting January 1, 2017. The FHFA bases the loan cap on its quarterly Housing Price Index, which gauges average single-family home prices. The index rose 1.5 percent during the third quarter of 2016 and is up 6.1 percent over the past year, enough to push it above its previous high point. Conforming loan limits are significant because they apply to home loans that meet the underwriting guidelines of Fannie Mae and Freddie Mac, the government-sponsored entities that acquire mortgages from lenders and ensure a steady flow of money to the mortgage market. “Today’s conforming loan limit increase is a much-needed recognition of rising home prices in high-cost markets, and a help to first-time and lower-income borrowers looking to utilize an FHA mortgage,” said NAR President William Brown.
Full Story…  http://realtormag.realtor.org/daily-news/2016/11/23/conforming-mortgage-limits-rise-for-2017

* Homeowners Becoming Homebodies. CoreLogic says it is now able to closely track household mobility through various data sets including property taxes and sales transactions. CoreLogic senior economist Kristine Yao says the median time between the recorded purchase and the subsequent sale of homes nationally was 4.4 years in 1985, but had increased to 6.6 years by 2015. Yao says this trend is similar to that noted in the Census Bureau’s latest Current Population Survey; only 5.1 percent of owner-occupied households moved between 2014 and 2015 compared to 9.2 percent between 1987 and 1988. When people did move last year, Yao says, 61 percent stayed within the same metropolitan area while only 24.6 percent moved to a different state, a 15 year-low. Those who moved within their own metro area tended to trade up, buying a home that was a median of $61,000 more costly than the old one. However, those who moved to another state tended to buy laterally – paying about the same for the new home as they had gotten for the old one.
Full Story… http://www.mortgagenewsdaily.com/11212016_homeowner_mobility.asp

Have a productive week.
Jason


Portland Metro Weekend Events Planner: November 24-27, 2016

PORTLAND METRO EVENTS WEEKEND PLANNER
FOR NOVEMBER 24-27, 2016

 

AMERICA’S LARGEST CHRISTMAS BAZAAR
FRI-SUN – This colorful Christmas Bazaar has been produced by the same small local company for 33 years. With innovation and creativity, the show has kept pace with today’s consumers throughout its history, offering a great opportunity to buy unique gifts in all price ranges.

TREE LIGHTING CEREMONIES
FRIPioneer Courthouse Square: This beloved community tradition will feature a holiday sing-a-long with Thomas Lauderdale and members of Pink Martini, the NW Community Gospel Choir, Pacific Youth Choir and friends!
Lake Oswego: This extraordinary evening of cheer includes caroling, performances from Lakeridge and Lake Oswego High School choirs and holiday tunes from Millennium Concert Band.
SATHillsboro: Spend a leisurely Saturday at the winter marketplace in downtown Hillsboro, sipping hot chocolate and nibbling on cookies provided by local businesses. You’ll find crafts made by local artisans, fresh winter produce and live music and entertainment—all of which will culminate in the spectacular tree lighting ceremony in the early evening.
Gresham – Cookie decorating, open houses at local businesses and phone calls to the North Pole are all part of the Spirit of Christmas, a day-long Thanksgiving weekend event in historic downtown Gresham.

THE HOLIDAY EXPRESS
Through December 18 – Join Santa Claus and his elves for a magical ride behind Portland’s famous steam locomotives. Vintage rail cars transport you through wilderness in the heart of the city. Round-trip rides run from Oaks Park Station through Oaks Bottom Wildlife Refuge to the Springwater Trail gateway on the Oregon Pacific Railroad.

POLAR EXPRESS
Through December 23 – The Polar Express story comes to life when the train departs Hood River for a one hour round-trip to the North Pole.

ZOO LIGHTS
Through January 1A dazzling display of more than million and half lights, and experience your zoo in a whole new light.

CHRISTMAS IN THE GARDEN
Through January 1 – An award-winning event featuring ice skating, a traditional German Christmas Market, snowless tubing and light display in the charming Rediscovery Forest.

CHRISTMAS FESTIVAL OF LIGHTS
Through December 30 – Offering a family-oriented blend of traditional celebration and serene reflection, the festival theme reflects the special season of hope that Christmas offers to many thousands of families from around the Pacific Northwest.

WINTER WONDERLAND
Through December 25 – Spectators can enjoy the most spectacular drive-through light show in the region, viewing over 250 colorful light set pieces and many fully animated scenes from the comfort of their own vehicle.

MADDOX WOODS
Through December 31 – Enjoy a magical walk down a lighted, accessible path through the woods and to the viewing platform on the Willamette River.

PORTLAND’S SINGING CHRISTMAS TREE
Through December 4Featured art includes the work of painters, sculptors, jewelers, photographers, woodworkers, glassblowers and more; authors include novelists, poets, photographers and writers of non-fiction.

A CIVIL WAR CHRISTMAS
Through December 23 – Propelled by traditional American songs, marches and spirituals — all revitalized for this production by luminary Portland musicians — A Civil War Christmas is a lively reminder for people of all beliefs about humanity’s potential for compassion, reconciliation and hope.

80’S DANCE CRUISE
SAT – Break out the hammer pants and leg warmers, time warp to the most radical decade and dance to the best of the 80’s with DJ MC or DJ Skippy.

TONY STARLIGHT SHOWROOM
Fridays through November 26 – 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.

PORTLAND SATURDAY MARKET
SAT-SUN through December – The nation’s largest weekly open-air arts and crafts market. Stroll down row upon row of unique creations made by the people who sell them in Old Town.

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.

VANCOUVER METRO EVENTS

POLAR PLUNGE
THURS – Join in on the fun as every year a few brave folks jump into the icy waters of Klineline Pond!

FESTIVAL OF TREES
FRI-SUNLive concerts, dance performances, scavenger hunt through the trees, rides on the Loci train engine and the talking tree. The tree lighting itself features a concert by the Vancouver Pops Orchestra, a visit from Santa’s elves and even an appearance by the big man himself.

BARREL TASTING
FRI-SUN – This is a peak at “wine in process.”  Winemakers taste their wines periodically to “check-in,” make decisions about blending, and determine whether a wine is ready for bottling. This one weekend a year, we give you a chance to participate in this process. You may or may not like what you taste, but you will learn something!

OPEN SATURDAYS AT PEARSON AIRBASE
EVERY 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

·         Moana
·         Allied
·         Bad Santa 2
·         Dear Zindagi
·         Rules Don’t Apply
·         Evolution

Click here for movie times and theatres.

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: Nov. 21, 2016

image001Favorable news reported This Week in Real Estate from the construction sector, both in terms of builder confidence and October housing starts, which climbed to the strongest pace since 2007. Below are a few highlights from the third week of November that influence our business:

* Builder Confidence Holds Firm in November. Builder confidence in the market for newly-built single-family homes held steady in November at a level of 63 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Builder sentiment has held well above 60 for the past three months, indicating that single-family housing sector continues to show slow, gradual growth. Ongoing job creation, rising incomes and attractive mortgage rates are supporting demand in the single-family housing sector. These factors will help keep housing on a steady, upward path in the months ahead. Looking at the three-month moving averages for regional HMI scores, the Northeast, Midwest and West each posted respective two-point gains to 45, 58 and 77. The South remained unchanged at 68.
Full Story… http://eyeonhousing.org/2016/11/builder-confidence-holds-firm-in-november/

* Housing Starts See Greatest Leap in Nearly a Decade. A big jump up in single family starts combined with an anticipated rebound in multifamily to push the annual pace of total housing starts above 1.3 million in October. The Census Bureau and HUD reported that the seasonally adjusted annual rate of single family housing starts was 869,000 in October, up 10.7% from the September pace of 785,000. Starts in structures with 5 or more units rebounded from 255,000 to 445,000, a pace more consistent with recent months. Overall, total housing starts quickened from a pace of 1.054 million in September to 1.323 million in October, a 25.5% annualized gain. The surge in October was well ahead of the average pace of 768,000 so far in 2016. The number of building permits also increased in October 0.3% to 1.229 million. This is up from September’s 1.225 million, and up 4.6% from last year’s 1.18 million. We expect single family starts to remain strong, if not at the October pace, through the end of the year and continue to strengthen in 2017.
Full Story… http://eyeonhousing.org/2016/11/october-housing-starts-pop-goes-single-family/

* Equity Rich U.S. Homeowners Increase by 2.6 Million in Q3 2016. ATTOM Data Solutions released Thursday its Q3 2016 U.S. Home Equity and Underwater Report, which shows that 13,125,367 U.S. homeowners were equity rich (loan-to-value ratio of 50 percent or lower) as of the end of Q3 2016, representing 23.4 percent of all U.S. homeowners with a mortgage and an increase of more than 2.6 million from a year ago. The report also shows that 6,063,326 U.S. homeowners were seriously underwater (LTV of 125 or higher) as of the end of Q3 2016, representing 10.8 percent of all U.S. homeowners with a mortgage, and a decrease of more than 854,000 homeowners from a year ago. Since the peak in seriously underwater homeowners at 12.8 million representing 28.6 percent of all homeowners with a mortgage in Q2 2012, the number of seriously underwater homeowners has decreased by more than 6.7 million. “Close to one in every five U.S. homeowners with a mortgage is now equity rich thanks to a combination of rising home prices and lengthening homeownership tenures,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. Median home prices increased on a year-over-year basis for the 18th consecutive quarter in Q3 2016. Among 88 metropolitan statistical areas with a population of at least 500,000 or more, Portland ranks 6th and Seattle ranks 9th, with the highest share of equity rich homeowners at 33.1% and 31.5% respectively.
Full Story… http://www.realtytrac.com/news/mortgage-and-finance/q3-2016-u-s-home-equity-and-underwater-report/

Have a productive week.
Jason


This Week in Real Estate: November 14, 2016

image001
The 2017 housing market forecast and affordability were topics that received the most attention This Week in Real Estate coming off the heels of the National Association of Realtors Conference and Expo. Below are a few highlights from the second week of November that influence our business:


* What’s In Store For Housing In 2017? For the majority of this year, the housing market could not get past low inventory levels, which were continuously cited as the main road block to a fully healthy housing market. Next year should be better, according to the newly released forecast from the National Association of Realtors, but its going to take time. “It’s evident that demand and sales slightly weakened over the summer as stubbornly low supply buyers’ choices, accelerated price growth and hindered some consumers’ belief that now is a good time to buy a home,” said Lawrence Yun, chief economist of the National Association of Realtors. Looking to next year, Yun stated that he thinks the tight supply and affordability issues affecting buyers in many markets will very slowly but surely start to abate. Yup predicts that housing starts will jump 5.3% next year to 1.22 million. However, this is still under the 1.5 million new homes needed to make up for the shortfall in recent years and keep up with the growing demand. The report added that new single-family home sales are likely to total 570,000 this year and rise to around 620,000 in 2017. According to Yun’s forecasts for next year, existing-home sales are projected to grow roughly 2% to around 5.46 million, and then experience a more prominent jump of 4% in 2018 (5.68 million). The national median existing-home price is expected to rise around 4% both this year and in 2017, and by the end of 2017, Yun said he expects rates to be around 4.5%. As for the rest of 2016, Yun added that he expects existing-home sales to finish at a pace of about 5.36 million – the best year since 2006 (6.47 million).
Full Story… http://www.housingwire.com/articles/38456-whats-in-store-for-housing-in-2017?eid=322520585&bid=1581068


* Housing Affordability Edges Lower In Third Quarter. Ongoing home price appreciation offset a small decline in mortgage interest rates to move housing affordability slightly lower in the third quarter of 2016, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). In all, 61.4 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 $65,700. The national median home price increased from $240,000 in the second quarter to $247,000 in the third quarter. Meanwhile, average mortgage rates edged lower from 3.88 percent to 3.76 percent in the same period.
Full Story… http://eyeonhousing.org/2016/11/housing-affordability-edges-lower-in-third-quarter/

* Balancing Act of Low Rates, Rising Home Prices is Keeping Affordability Stable For Now.
“The latest Black Knight Home Price Index (HPI) report showed that, as of the end of August, U.S. home prices were within just 0.7 percent of hitting a new peak,” said Black Knight Executive Vice President Ben Graboske. “This is important for a number of reasons, not least of which is the impact it could have on home affordability. Right now, however, affordability remains steady as low interest rates continue to offset rising home prices. In fact, even though the value of the average home in the U.S. increased by about $13,500 over the last year, thanks to declining interest rates it actually costs almost exactly the same in principal and interest each month to purchase as it did this time last year.” The most recent HPI data is also important when it comes to the growing discussion surrounding conforming loan limits. The Housing and Economic Recovery Act of 2008 restricted any additional increases in the conforming loan limit until national home values returned to pre-crisis levels. Now that we’ve reached that point by multiple measures, the GSEs can consider raising the national conforming limit above the static $417,000 where it has stayed for the last 10 years. Black Knight also found that while Oregon, Washington and Colorado continue to see the highest levels of HPA, of the three, Colorado’s rate of appreciation is down one percent from last year. Both Washington and Oregon continue to accelerate, with annual rates of HPA over 1.5% higher than one year ago.
Full Story… http://www.bkfs.com/CorporateInformation/NewsRoom/Pages/20161107.aspx

Have a productive week.
Jason


Portland Metro Weekend Event Planner: November 11-13, 2016

PORTLAND METRO EVENTS WEEKEND PLANNER
FOR NOVEMBER 11-16, 2016

 

HOLIDAY FOOD & GIFT FESTIVAL
FRI-SUN – One of the largest holiday celebrations in the Northwest, with over 300 exhibitors. The festival will provide shoppers with one-of-a-kind gifts that cannot be found anywhere else. Featuring art, crafts, jewelry, clothing, wood, music, photography, toys, Christmas décor, and much more makes this a gift buyer’s delight.

PORTLAND BEER & MUSIC FESTIVAL
SAT – Try unlimited samples of over 50 craft beers, wines, and spirits. Live bands, DJ’s, great food and much more!

NORTHWEST FOOD & WINE FESTIVAL
Through SAT – The festival brings the highest quality regional wines, spirits, beers, foods and prominent chefs and restaurants. It’s designed to present a rich and rewarding experience for wine lovers, gourmet food enthusiasts and industry experts.

VETERAN’S DAY PARADE
FRI – Join us in honoring our Veterans! Floats, marching bands, vehicles and much more! Starting point is on NE 40th and Tillamook and proceeds along NE 40th.

FREE NATIONAL PARKS DAY

FRI – In honor of America’s Veterans, all parks will have free admission. Get out and enjoy fall in the beautiful Northwest.

PORTLAND METRO DEALERS RV SHOW
THURS-SUN – Visit dealers and exhibitors to show the latest RV products.

COMEDY NIGHT AT THE ZOO

SATComedy Night at the Zoo includes hors d’oeuvres, adult drinks, a silent auction, live music, and a performance by Caitlin Weierhauser in the banquet room at the Oregon Zoo.

TONY STARLIGHT SHOWROOM
Fridays through November 26 – 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.

PORTLAND SATURDAY MARKET
SAT-SUN through December – The nation’s largest weekly open-air arts and crafts market. Stroll down row upon row of unique creations made by the people who sell them in Old Town.

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.

VANCOUVER METRO EVENTS

SECOND SATURDAY AT THE WATER CENTER: NATIVE AMERICAN INDIAN HERITAGE MONTH
SAT – Learn more about our local Native American community, watch dancers in native regalia, play games, paint feather and much more!

CLARK COUNTY OPEN STUDIOS
SAT-SUN – A free self-guided tour where local artists open their studios to the public and share how, why and where their art is created. This is a unique opportunity to visit artists and artisans, view diverse works and buy pieces specifically created for this event.

OPEN SATURDAYS AT PEARSON AIRBASE
EVERY 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

· Arrival
· Shut In
· Elle
· Almost Christmas
· Billy Lynn’s Long Halftime Walk
· National Bird

Click here for movie times and theatres.

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: Nov. 7, 2016

image001
Good Morning!

Multiple third quarter analyses were released This Week in Real Estate by groups like CoreLogic and NAR, highlighted by the continued growth of home equity and home price appreciation. Below are a few highlights from the first week of November that influence our business:

* Home Equity Wealth Doubled in Last 5 Years. Home prices nationwide, including distressed sales, increased year-over-year by 6.3 percent in September compared with September 2015 and increased month-over-month by 1.1 percent in September 2016 compared with August 2016, according to the CoreLogic HPI. “Home equity wealth has doubled during the last five years to $13 trillion, largely because of the recovery in home prices,” CoreLogic Chief Economist Frank Nothaft said. “Nationwide during the past year, the average gain in housing wealth was about $11,000 per homeowner, but with wide geographic variation.” Going into next year, CoreLogic predicts that home prices will only continue to rise, with the company estimating an increase of 5.2% from September 2016 to September 2017. Monthly, home prices are expected to increase 0.3%.
Full Story…  http://www.corelogic.com/about-us/news/corelogic-us-home-price-report-shows-prices-up-6.3-percent-in-september-2016.aspx

* Housing Supply Crunch Accelerates Metro Home Price Growth During Third Quarter. Persistent supply shortages throughout the country led to slightly faster home price appreciation during the third quarter, according to the latest quarterly report by the National Association of Realtors. The report also revealed that seven of the ten most expensive housing markets in the U.S. are in the West, including San Jose, California, which had a median single-family home price of $1 million for the second straight quarter. The national median existing single-family home price in the third quarter was $240,900, which is up 5.2% from the third quarter of 2015 ($228,900) and surpasses this year’s second quarter ($240,700) as the current peak quarterly median sales price. Total existing-home sales, including single-family and condos, slid 2.2 percent to a seasonally adjusted annual rate of 5.38 million in the third quarter from 5.50 million in the second quarter of this year, and are 0.4% lower than the 5.40 million pace during the third quarter of 2015. At the end of the third quarter, there were 2.04 million existing homes available for sale, which was 6.8% below the 2.19 million homes for sale at the end of the third quarter in 2015.
Full Story…  http://www.realtor.org/news-releases/2016/11/housing-supply-crunch-accelerates-metro-home-price-growth-during-third-quarter

* 2.5 Million Consumers Hit By Financial Crisis Ready to Reenter Housing. The time frame for borrowers who were significantly hit after the financial crisis to improve their credit score is about to happen, opening the door for a lot of consumers to reenter the housing market. According to Experian’s latest analysis, foreclosures, short sales and bankruptcies remain on a credit report for seven years, which means these items are due to fall off credit files of 2.5 million consumers between June 2016 and June 2017. And even better for the housing market, the analysis shows that 68% of these consumers are scoring in the near-prime or higher credit segments, meaning the opportunity for this group to qualify for mortgage loans is growing. “In the coming years, boomerang borrowers will be a critical segment of the real-estate market,” said Michele Raneri, vice president of analytics and new business development at Experian. “While many of these borrowers have gone through a very difficult time, it is encouraging to see them taking control of their finances with better credit scores and all-around better credit management.”
Full Story…  http://www.housingwire.com/articles/38405-5-million-consumers-hit-by-financial-crisis-ready-to-reenter-housing?eid=322520585&bid=1572876

Have a productive week.
Jason


Portland Metro Weekend Events Planner: Nov. 4-6, 2016

PORTLAND METRO EVENTS WEEKEND PLANNER
FOR NOV. 4-6, 2016

 

WORDSTOCK BOOK FESTIVAL
SATWordstock will include author discussions and activities for readers of all ages, an extensive book fair, pop-up readings and concerts, a beverage garden, and local food trucks.

WOMEN’S ROLLER DERBY
FRI-SUNInternational WFTDA Championships are at Veterans Memorial Coliseum. Support Portland’s Rose City Rollers!

A TASTE OF FRANCE
SAT – Enjoy music, tastes of French wine, and heavy hors d’oeuvres made by a French chef at Wines of France in Lake Oswego.

VERBORT SAUSAGE DINNER
SAT – Come join in the tasting of handmade sausage, sauerkraut and applesauce made solely by hundreds of community volunteers and generations of families that have been in Verboort for over 150 years.

FRIGHT TOWN
Through November 5th3 Haunted Houses in one location! New Grimthorne Manor: overrun by angry spirits, vampires, werewolves and maniacs. The Witch House: a burnt-out skeleton of a building where a demonic cult has holed up to practice their witchcraft in the dark, secret halls. Museum of Horrors: the cacophonous cornucopia of creepies, crawlies, werechickens, evil clowns and so much more.

TONY STARLIGHT SHOWROOM
Fridays through November 26 – 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.

TERROR BY GASLIGHT
THURS-SAT – Filled with suspense and sudden shocks, this cleverly-constructed thriller will both enthrall and terrify an audience as it traces its tale of body-snatching, explosive jealousies and murder.

HAUNTED PUB TOUR
ALL MONTH – A spine-tingling excursion. Hear first-hand accounts of recent paranormal encounters while sampling 7 award-winning local beers. The route includes stops at two historic pubs for beer tastings as well the old Merchant Hotel, known as Portland’s most haunted building.

PORTLAND SATURDAY MARKET
SAT-SUN through December – The nation’s largest weekly open-air arts and crafts market. Stroll down row upon row of unique creations made by the people who sell them in Old Town.

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.

VANCOUVER METRO EVENTS

OPERATION PILLOW TALK: A TIME TO CARE & SHARE
FRI-SAT – This project is in its 5th year designing, sewing, or dyeing pillowcases for deployed military personnel. Over the course of 2016, community residents, sewing clubs, Girl Scout troops, senior living centers, elementary school teachers and students have contributed to this project. The resulting pillowcases will be shipped to troops around the world in time for the holidays.

VETERAN’S DAY PARADE
SAT This year marks the 30th anniversary of the community celebration honoring Veterans of all service branches.

NW’S LARGEST GARAGE & VINTAGE SALE
SAT Community Sale with over 500 indoor booths. Find antiques, new & used items and everything in between. Furniture, jewelry, clothing, baby & kids’ items, hunting, fishing, electronics & much more.

OPEN SATURDAYS AT PEARSON AIRBASE
EVERY 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

·         Dr. Strange
·         Trolls
·         Hacksaw Ridge
·         Army of One
·         Dog Eat Dog
·         The Charnel House
·         Stagecoach
·         Keep in Touch

Click here for movie times and theatres.

CLICK HERE TO VIEW THIS WEEK’S OPEN HOUSES

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


6 Great Neighborhoods for Millennials in Portland

Who wouldn’t want to live in Portland? It’s known for being interesting and eclectic, fresh and innovative. That’s why there’s been such an influx of millennials taking up residence in this cool city. Here are six great neighborhoods for millenials in Portland, Oregon.

 

6. Downtown

Downtown is friendly and welcoming, yet very upscale. The public transportation is great, making it a very convenient area to live in. There are a lot of students in the Downtown area, giving the core of Portland a lot of energy. The food is delicious and restaurants tend to be health conscious in this area.

 

5. Northwest District

My view this morning. 🙌🏻

A photo posted by Laura (@lstoddardhancock) on

In the Northwest District, residents are usually between the ages of twenty-five to thirty-four years old. There are many bars, coffee shops, and restaurants in this area, making it a popular spot. There is a high education rate along with a large diversity amongst residents.

 

4. Eliot

NE Portland paradise

A photo posted by @threemaybefour on

Eliot is a great neighborhood to live in because it is both a safe and accessible location. Due to the fact that locals are concerned with health and fitness, you’ll see many people biking to work and a lot of organic healthy foods. If you work downtown the bike path makes it easy for you to get there.

 

3. Old Town-Chinatown

The Old Town-Chinatown neighborhood is a hip area to live in because of the abundance of appealing and popular bars, coffee shops, and restaurants. The police are ever-present, making it a safe place to live. It’s also a very short commute away from everywhere else in the city.

 

2. Kerns

On my walk

A photo posted by Theresa Riccardi (@theresariccardi) on

There are many local parks, shopping areas, and delicious restaurants in Kern, yet it has a great small neighborhood feel. It’s very easy to get to other parts of the city from here, thanks to the good public transit system. The people in the neighborhood are friendly and there are relatively low crime rates. There’s also a great selection of microbreweries, local coffee roasters, and independent businesses.

 

1. Buckman

Buckman boasts very little crime. The atmosphere of this neighborhood is great; it is a hub of culture. Residents of this neighborhood tend to be between twenty-five to thirty-four years old, largely because Buckman is in such close proximity to countless notable bars, coffee shops, and restaurants.

 


Portland Metro Weekend Events Planner: Oct. 28-31, 2016

PORTLAND METRO EVENTS WEEKEND PLANNER
FOR OCT. 28-31, 2016

THRILLER DANCE
SAT – Practice dancing Michael Jackson’s “Thriller” in advance, and then show up (ghoulish costume optional) for Thrill the World Portland.

INDOOR TRICK-OR-TREATING
Through MON – Keep those costumes (and face paint) dry this year by taking the fun indoors at one of the many events happening around town.

WHERE TO TRICK OR TREAT
MON – Top ranking Portland neighborhoods and suburbs for trick-or-treating.

PUMPKIN BEER FESTIVAL
SATKiller Pumpkin Festival offers 40 pumpkin beers and cocktails, pumpkin bowling and smashing, and live street music at Green Dragon Bistro & Brew Pub.

EEK WEEK
THURS-MON – Visit the Portland Children’s Museum for different fun Halloween events going on each day.

BOO CRUISE
SAT – Put on your most creative and/or scary costume and come on board for live music from The Groove, dancing and costume contests.

PUMPKIN PATCHES
Through SUN – Find a pumpkin patch near you!

PUMPKIN FEST
FRI-SUN See pumpkins shot from a cannon, take a hayride, navigate a corn maze, try archery & paintball, and choose a pumpkin during Pumpkin Fest at Wooden Shoe Tulip Farm in Woodburn on Fridays, Saturdays, and Sundays.

13TH DOOR HAUNTED HOUSE
Through November 5th – Portland’s best haunted attraction, highly detailed sets help you become part of the horror as you journey among animated creatures and theatrical actors.

ANTIQUE & COLLECTIBLE SHOW
FRI-SUN – There will be hundreds of outstanding antique collectors and dealers with more than 900 booths available to view!

KUMORICON
FRI-SUN – Back for its 14th year of showcasing anime and Japanese culture. Stretching across generations, anime fans are gathering together for this amazing annual event.

BENDING THE BARD: CINEMATIC TWISTS ON SHAKESPEARE
Through SUN – Seventeen “unconventional” cinematic adaptations of Shakespeare’s plays. Freed from restrictions of a certain time, location, or even language, the filmmakers in this series have created works that both reflect and transcend their immediate cultural origins.

FILMS OF SCANDANAVIA
Through SAT – At New Scandinavian Cinema, watch dramas, comedies, and thrillers from Denmark, Finland, Norway, Sweden, and Iceland. Portland Art Museum.

FRIGHT TOWN
Through November 5th3 Haunted Houses in one location! New Grimthorne Manor: overrun by angry spirits, vampires, werewolves and maniacs. The Witch House: a burnt-out skeleton of a building where a demonic cult has holed up to practice their witchcraft in the dark, secret halls. Museum of Horrors: the cacophonous cornucopia of creepies, crawlies, werechickens, evil clowns and so much more.

HAUNTED PUB TOUR
Through MON – A spine-tingling excursion. Hear first-hand accounts of recent paranormal encounters while sampling 7 award-winning local beers. The route includes stops at two historic pubs for beer tastings as well the old Merchant Hotel, known as Portland’s most haunted building.

PORTLAND SATURDAY MARKET
SAT-SUN through December – The nation’s largest weekly open-air arts and crafts market. Stroll down row upon row of unique creations made by the people who sell them in Old Town.

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.

VANCOUVER METRO EVENTS

CLARK COUNTY SCAREGROUNDS
Through MON – The Northwest’s premier all-ages Halloween event located on the 170-acre Clark County Event Center. 4 haunted houses, carnival, games & much more!

ROCKY HORROR PICTURE SHOW
SAT – Once seated, be ready for a crazy time! Our emcee will initiate you into the wonderful world of Rocky through Rocky virgin “sacrifice,” share the rules with you, and give you some helpful hints about the movie. Some people dress up, some don’t. Extravagant costumes are highly encouraged!

HAUNTED WALKING TOUR
FRI & SAT – Experience a spooky slant on history on a Clark County Historical Museum walking tour on a dark night.

DINE THE COUV
Through SUN – Foodies and beer drinkers unite! For the entire month of October, original Vancouver USA eateries, breweries and tasting rooms will serve up some special items.

FARMER’S MARKET – DOWNTOWN
SAT-SUN (through October 30)  Vancouver’s Farmer’s Market. Over 250 vendors with fresh and local produce, flowers, plants, baked goods and much more at 6th & Ester in downtown Vancouver.

OPEN SATURDAYS AT PEARSON AIRBASE
EVERY 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

·         Inferno
·         Crosscurrent
·         The Windmill
·         New Life
·         American Pastoral
·         The Unspoken

Click here for movie times and theatres.

CLICK HERE TO VIEW THIS WEEK’S OPEN HOUSES

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


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