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


Homebuyer Confidence Reaches an 18-Year High

 

Homebuyer Confidence Reaches an 18-Year High

While home price gains are growing at a slower pace according to a report released This Week in Real Estate by economists with Freddie Mac, the Consumer Confidence Index has spiked to the highest level since October 2000. Below are a few highlights from the fourth week of September that influence our business:

Home Price Gains Decelerate to 11-Month Low
“Amidst homebuyers’ budget constraints and slight improvements in supply levels, home prices grew at a slower pace last quarter,” economists at mortgage financier Freddie Mac said Monday. “For the year, we anticipate that home prices will increase 5.5%, with the growth rate moderating to 4.5% in 2019.” Home-price gains were weaker in the three-month period ending in July than in the prior month. The Case-Shiller national index rose a seasonally adjusted 0.2% and was up 6.0% for the year in July, down from a 6.2% increase in June. The more closely-watched 20-city index had notched a 6.4% gain last month. Those were the slowest paces of growth since last summer.

Pending Home Sales Continue to Slide
Pending home sales have decreased on an annual basis for eight consecutive months, and have declined month over month in four of the past five months. The Pending Home Sales Index decreased 1.8% in August, and is now down 2.3% 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. The PHSI decreased to 104.2 in August, from 106.1 in July. The PHSI decreased in all four regions, ranging from a 5.9% decrease in the West to 0.5% in the Midwest. Year-over-year, the PHSI increased by 1.3% in the South, but decreased 11.3% in the West, 1.6% in the Northeast and 1.1% in the Midwest. NAR attributes the slowdown to the chronically low inventory, and the slowdown in existing sales mirrors the summer soft patch in new home sales. However, NAR reported a record high number of Americans now believe it is a good time to sell. Despite flat existing sales, builder confidence remained firm in September. The accelerating economic growth in the second quarter of 2018 fueled the job market, and the demand for new residential construction will continue to grow.

Consumer Confidence Reaches 18-Year High
Consumer confidence continued to rise in September, after a big increase in August. Currently, consumers are quite optimistic about both the current situation and the near-term outlook. The Consumer Confidence Index, reported by the Conference Board, increased to 138.4 in September, from 134.7 in August. It has surpassed the 2007 peak of 111.9 and spiked to the highest level since October 2000. Both the present situation index and the expectations index rose in September. The present situation index rose by 0.3 point from 172.8 to 173.1 and the expectations index jumped by 6.0 points from 109.3 to 115.3. The September increase in consumer confidence was mainly generated by an increase in the expectations index.

 


Portland Metro Weekend Planner: September 28-30, 2018

PORTLAND METRO WEEKEND PLANNER
SEPTEMBER 21-23, 2018

TINY HOUSE FESTIVAL
FRI-SUN – Head to Eugene to meet builders and get fresh inspiration for tiny houses and vehicle conversions. Learn from presentations and workshops offered as well.

PIPPIN THE MUSICAL
THROUGH OCT 14 – Young man questions his life choices that lead to happiness in this heartwarming musical.

SWING DANCING
THROUGH SUNBridgeTown Swing offers lessons, workshops and competitions in the art of dance.

FRESH HOPS FEST
FRI-SUN – Head to Oaks Park and enjoy fresh local hoppy drinks for adults and root beer for the kids on Saturday.

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

DOWNTOWN OKTOBERFEST
SAT – Head to the Widmer Oktoberfest for German food and drinks, ales that will transport you to Munich and more!

SAVE THE CHEETAHS PARTY
SUN – Join the fundraiser for Big Cats with this big dinner party with both a silent and live auction.

EXOTIC FOOD AT TIMBERLINE
SUN – Try exotic foods from competing cooks as you taste elk, pheasant, rabbit and water buffalo.

PLATES FOR PARKINSON’S
FRI – Enjoy an evening of fine cuisine to benefit the Brian Grant Foundation in support of people with Parkinson’s living inspired lives.

JUGGLING FESTIVAL
FRI-SUN – Reed College offers shows, workshops and vendors for all things involving juggling.

ROSE CITY ROLLERS
FRI – Watch the Rose City Rockets vs. Clark County’s Storm City roller derby at Oaks Park.

GROWN-UPS NIGHT OUT
SAT – The Portland Children’s museum hosts Grow-ups night out, break the rules and play at the Museum after hours!

TASTE OF STYLE
SAT – Head to the Juniper for the 4th annual celebration of fantasy hair, makeup, photography and fashion design at this Monopoly themed fashion charity show.

CREATIVITY CONFERENCE
FRI – Plug in and listen to creative keynote presentations and learn about influences and inspirations, as well as how to solve problems creatively.

HOLISTIC EXPO
SAT-SUN – View exhibits and watch presentations about healthy alternatives and listen to those with psychic abilities.

VANCOUVER METRO EVENTS

TEA PARTY
SAT – Watch the illustration of Fort Vancouver history as volunteers are dressed in colonial clothing while you enjoy a tea party with refreshments and bites.

SYMPHONY GALA
SAT – Head to the social event of the summer with internationally-renowned violinist Mayuko Kamio and Susannah Mars as guest of honor in this event celebrating with live music and an artistic dining experience.

OKTOBERFEST
SAT – Alderbrook Park hosts this family-friendly event with German food, Weiner dog races, entertainment and more.

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

  • All About Nina
  • At First Light
  • Cruise
  • Golden Job
  • Hell Fest
  • Little Women (2018)
  • Night School
  • Monsters and Men
  • Maggie Black
  • Maximum Impact
  • Small Foot
  • The Samuel Project

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: Sept. 24, 2018

 

According to CoreLogic’s latest Equity Report released This Week in Real Estate homeowner equity has nearly doubled in five years. Below are a few highlights from the third week of September that influence our business:
* Homeowner Equity Increased by About $1 Trillion Year-Over-Year. The amount of equity in mortgaged real estate increased by about $1 trillion in Q2 2018 from Q2 2017, an annual increase of 12.3 percent, according to the latest CoreLogic Equity Report. Homeowner equity has nearly doubled in five years, increasing by $3.9 trillion from Q2 2013 to Q2 2018. The nationwide negative equity share for Q2 2018 was 4.3 percent of all homes with a mortgage, more than 20 percentage points lower than the peak negative equity share – 26 percent – recorded in Q4 2009. Over the past 12 months, 570,000 borrowers moved into positive equity.
* Western and Southern States Posts Single-Family Residential Permits GrowthOver the first seven months of 2018, the total number of single-family permits issued year-to-date (YTD) nationwide reached 521,438. On a year-over-year basis, this is a 7.0% increase over the July 2017 level of 487,495. The preliminary results from the New Residential Construction Survey are similar, year-to-date single-family permits over the first seven months of 2018 was, 522,200 which is 7.5% ahead of its level over the same period of 2017, 485,900. Year-to-date, single-family permits grew in the Southern and the Western regions of the country, while the Midwest reported no change and Northeast declined by 1.6% compared to July 2017 YTD. Western region had the highest growth in single-family (14.3%) while South recorded the highest multifamily permits growth (15.2%) during the last 12 months. Between July 2017 YTD and July 2018 YTD, 34 states saw growth in single-family permits issued while 16 states and the District of Columbia registered a decline. Colorado recorded the highest growth rate during this time at 27.6% while single-family permits in the District of Columbia declined by 69.6%, from 217 in 2017 to 66 in 2018.
* Existing Home Sales Remain Flat Nationally, Mixed Results Regionally. Existing-home sales remained steady in August after four straight months of decline, according to the National Association of Realtors. Sales gains in the Northeast and Midwest canceled out downturns in the South and West. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, did not change from July and remained at a seasonally adjusted rate of 5.34 million in August. Sales are now down 1.5 percent from a year ago (5.42 million in August 2017). The median existing-home price for all housing types in August was $264,800, up 4.6 percent from August 2017 ($253,100). August’s price increase marks the 78th straight month of year-over-year gains. Total housing inventory3 at the end of August also remained unchanged from July at 1.92 million existing homes available for sale, and is up from 1.87 million a year ago. Unsold inventory is at a 4.3-month supply at the current sales pace, consistent from last month and up from 4.1 months a year ago. Properties typically stayed on the market for 29 days in August, up from 27 days in July but down from 30 days a year ago. Fifty-two percent of homes sold in August were on the market for less than a month. Existing-home sales in the West dropped 5.9 percent to an annual rate of 1.12 million in August, 7.4 percent below a year ago. The median price in the West was $392,900, up 4.8 percent from August 2017.

Have a productive week.

Jason


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