This Week in Real Estate: May 30, 2017

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As you celebrate the remainder of this holiday weekend I encourage you to pause at some point over the next two days to honor and remember all the men and women that made the ultimate sacrifice in service to our country.

Favorable news This Week in Real Estate in two of the most influential lead indicators of a real estate market: employment and interest rates. Interest rates hit the lowest level of 2017 this week and the jobless rate is at a 10-year low. Below are a few highlights from the fourth week of May that influence our business:

* Existing-Home Sales Slip 2.3 Percent in April; Days on Market Falls to Under a Month. Stubbornly low supply levels held down existing-home sales in April and also pushed the median number of days a home was on the market to a new low of 29 days, according to the National Association of Realtors. Total existing-home sales dipped 2.3 percent to a seasonally adjusted annual rate of 5.57 million in April from a downwardly revised 5.70 million in March. Despite last month’s decline, sales are still 1.6 percent above a year ago and at the fourth highest pace over the past year. “Last month’s dip in closings was somewhat expected given that there was such a strong sales increase in March at 4.2 percent, and new and existing inventory is not keeping up with the fast pace homes are coming off the market,” said Lawrence Yun, NAR chief economist. Total housing inventory at the end of April climbed 7.2 percent to 1.93 million existing homes available for sale, but is still 9.0 percent lower than a year ago (2.12 million) and has fallen year-over-year for 23 consecutive months. Properties typically stayed on the market for 29 days in April, which is down from 34 days in March and 39 days a year ago and surpasses last May (32 days) as the shortest timeframe since NAR began tracking in May 2011. Inventory data from realtor.com reveals that the metropolitan statistical areas where listings stayed on the market the shortest amount of time in April were San Jose, CA (23 days), San Francisco, CA (25 days), Denver (27 days) and Seattle-Tacoma-Bellevue, WA (28 days). Matching the highest percentage since last September, first-time buyers were 34 percent of sales in April.
Full Story…  https://www.nar.realtor/news-releases/2017/05/existing-home-sales-slip-23-percent-in-april-days-on-market-falls-to-under-a-month

* Mortgage Rates Drop to Lowest of 2017. Freddie Mac released the results of its Primary Mortgage Market Survey on Thursday showing average mortgage rates hitting their lowest mark of the year. “As we predicted, the 30-year mortgage rate fell 7 basis points this week in a delayed reaction to last week’s sharp drop in Treasury yields,” says Sean Becketti, Freddie Mac’s chief economist. The 30-year fixed-rate mortgage averaged 3.95 percent, with an average 0.5 point, falling from last week’s 4.02 percent average. Last year at this time, 30-year rates averaged 3.64 percent. The 15-year fixed-rate mortgage averaged 3.19 percent, with an average 0.5 point, falling from last week’s 3.27 percent average. A year ago, 15-year rates averaged 2.89 percent. A 5-year hybrid adjustable-rate mortgage averaged 3.07 percent, with an average 0.4 point, dropping from last week’s 3.13 percent average. A year ago, 5-year ARMs averaged 2.87 percent.
Full Story… http://freddiemac.mwnewsroom.com/press-releases/mortgage-rates-drop-to-lowest-of-2017-otcqb-fmcc-1310392

* Jobless Claims Rose Slightly, but Four-Week Average is at a 44-Year Low. The number of Americans filing for unemployment benefits rose less than expected last week and the four-week moving average of claims fell to a 44-year low, suggesting further tightening in the labor market. It was the 116th straight week that claims were below 300,000, a threshold associated with a healthy labor market. That is the longest stretch since 1970, when the labor market was smaller. The labor market is near full employment, with the jobless rate at a 10-year low of 4.4 percent. The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, fell 5,750 to 235,250 last week, the lowest level since April 1973. The four-week moving average of continuing claims dropped 16,000 to 1.93 million, the lowest level since January 1974.
Full Story… http://www.cnbc.com/2017/05/25/initial-jobless-claims-hit-234k-vs-estimate-of-238k.html

 

Have a productive week!
Jason


Portland Metro Weekend Events Planner: May 26-29, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
FOR MAY 26-29, 2017

 

CITY FAIR
FRI-MON, June 2-4, & June 9-11 Rose Festival’s waterfront activities kick off May 26th and run three consecutive weekends at Tom McCall Waterfront Park. Enjoy carnival rides, exhibits, beer, food fair & fireworks opening night.

METERORITE & FAMILY FUN DAY
SAT – Learn exciting facts about meteorites, fireballs, and outer space. Large collection of meteorites for visitors to touch and hold. Family activities will also take place throughout the day. Children and adults alike can make impact craters like those on the moon and figure out how our solar system formed.

MEMORIAL WEEKEND IN WINE COUNTRY
SAT-MON – One of the region’s longest-running events where more than 150 wineries and tasting rooms will kick off the summer wine tasting season and celebrate our statewide Oregon Win Month. Taste new wines from your favorite labels, sample from the barrel with winemakers, or savor specialty food pairings and live music.

DUELING PIANO SHOW
FRI & SAT (All Month)The Barrel Room lays claim to the longest running dueling piano shows in Portland. The show, which at times can get a “little cheeky,” isn’t just two players banging on pianos for five hours. They boast a Vegas style, request driven, interactive show complete with bits, games, sing-a-longs, comedy and some of the best players in the U.S.

GODSPELL
Through June 11 – The show won instant acclaim for its gentle but very powerful message. Godspell is a celebration that is spirited, loving, sprinkled with wry humor and bolstered with a rousing selection of songs—rock, folk, country, and pop—all neatly woven in and around the parables and teachings of Jesus.

THE IMPORTANCE OF BEING EARNEST
Through June 11 – An all-female, all-star Portland cast leads this production of Oscar Wilde’s magnificent 19th Century comedy of manners and social status.

PERSUASION
Through SATThis adaptation of Jane Austen’s final novel follows the love story of pragmatic Anne Elliot and passionate Captain Wentworth.

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

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

FLASHBACK DANCE CRUISE
SAT – Gather your crew & rock your best retro threads from the 70’s, 80’s and 90’s! Get on the dance floor as our DJ’s play the hits of decades gone by.

URBAN SCAVENGER HUNT
ALL MONTH  Smartphone clues lead you on a fun & engaging walking tour of the city. Clues start you in the heart of downtown at Pioneer Courthouse Square and will take you on a scavenger hunt through the Arts District, on a streetcar ride and among the famous food carts.

SHANROCK’S TRIVIOLOGY
ALL MONTH – Various Portland Locations: Triviology pub quizzes are free to play, last a couple of hours, and are composed of seven short rounds, giving teams instant gratification for their efforts. Team size can range from one to five players, with prizes for everyone on the winning team.

HAUNTED PUB TOUR
All Month – This spine-tingling ghost tour explores Portland’s historic Old Town District, a vibrant area with beautiful 1800’s buildings, cobblestone streets and a wicked past.

PORTLAND ESCAPE ROOMS
All Month THURS-SUNCedar Hills/Beaverton Locations: Real-life room escape games are a type of physical adventure game in which people are locked in a room with other participants and have to use elements of the room to solve a series of puzzles, find clues, and escape the room within a set time limit.

 

VANCOUVER METRO EVENTS

MEMORIAL DAY SPRING WINE RELEASE WEEKEND
SAT & MON – Visit participating wineries over Memorial Day Weekend and be entered to win prizes. Pick up a passport at your first winery, ask for a stamp/punch at each winery you visit, and leave it at the last. This is the weekend to taste new releases for the summer.

RUN TO REMEMBER WASHINGTON
SAT – Let us honor the brave men and women who have or are currently serving in our Armed Forces, and remember those who have given the ultimate sacrifice fighting for our freedom. This Memorial Day Mile and 5k/10k running or walking event will benefit Battle Buddies, an organization that provides Service Dogs for our Veterans.

RACE TO REMEMBER MEMORIAL DAY
MON – The Race to Remember Memorial Day run honors those men and women that have so bravely made the ultimate sacrifice for our freedom. Choose between a 5K, 10K, half marathon, or participate in the Honor A Hero Mile.

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

HEISEN HOUSE: SUMMER CONCERT SERIES
Through September 29 – Enjoy summer concerts among the vines every Friday night at Heisen House Vineyards.

GUIDED WALKS AT COLUMBIA SPRINGS
Through October 18 – Each guided walk consists of an easy stroll or tour with themes such as plants, animals, geology, local history, and the fish hatchery. These events are appropriate for all ages and no registration is required. Spots are available at a first come, first served basis to the first 30 visitors.

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

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

NEW MOVIES OUT THIS WEEK
· Baywatch
· Pirates of the Caribbean: Dead Men Tell No Tales
· Drone
· Dear Other Self
· Black Butterfly
· Berlin Syndrome

Click here for movie times and theaters.

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

CLICK HERE TO VIEW THIS WEEK’S OPEN HOUSES

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


This Week in Real Estate: May 22, 2017

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As we move closer towards the summer selling season, we have favorable news This Week in Real Estate relative to home builder confidence and average closing time of home loans. Below are a few highlights from the third week of May that influence our business:

* Homebuilder Confidence Soars in May. The housing market is showing signs of strength as homebuilder confidence grew in May to the second-highest point since the recession, according to the National Association of Home Builders/Wells Fargo Housing Market Index. Home builders increased their confidence in the market for newly built single-family homes by two points in May to 70. “This report shows that builders’ optimism in the housing market is solidifying, even as they deal with higher building material costs and shortages of lots and labor,” said NAHB Chairman Granger MacDonald. The index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as good, fair or poor. “The HMI measure of future sales conditions reached its highest level since June 2005, a sign of growing consumer confidence in the new home market,” said NAHB Chief Economist Robert Dietz. “Especially as existing home inventory remains tight, we can expect increased demand for new construction moving forward.”
Full Story… http://www.housingwire.com/articles/40120-homebuilder-confidence-soars-in-may?eid=322520585&bid=1755028

* New Single-Family Home Size Continues to Trend Down. After increasing and leveling off in recent years, new single-family home size continued along a general trend of decreasing size during the start of 2017. This change marks a reversal of the trend that had been in place as builders focused on the higher end of the market during the recovery. As the entry-level market expands, including growth for townhouses, typical new home size is expected to decline. According to first quarter 2017 data from the Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis, median single-family square floor area was slightly lower at 2,389 square feet. This is down from 2,440 square feet last quarter and 2,465 square feet last year. Similarly, the average square footage also decreased slightly from 2,652 square feet in the fourth quarter and 2,658 square feet last year to 2,628 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. 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/2017/05/new-single-family-size-continues-to-trend-down/

* Closing Time on a Mortgage Keeps Getting Faster. The time to close a loan fell once again, marking the third consecutive month of declines. Time to close all loans fell to 42 days in April, down from 43 in March and a substantial drop from the beginning of 2017’s 51 days in January. The time it takes to close a refinance dropped to 41 days in April, down from 43 days in March. The time to close a purchase also decreased from 43 days the previous month to 42 days in April. And while the time it takes to close a refinance came in lower than purchase loans, it is purchase originations that continue to rule the market. In April, refis represented 35% of the market, while purchases made up the other 65%.
Full Story… https://cdn.elliemae.com/origination-insight-reports/Ellie_Mae_OIR_APRIL2017.pdf

Have a productive week!
Jason


Portland Metro Weekend Events Planner: May 19-21, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
FOR MAY 19-21, 2017

 

PEOPLE IN THE STREET
SUN – Spend a warm summer day walking, strolling, and rolling around Southeast Portland. This route will take you on a tour of Laurelhurst, Sewallcrest, Colonel Summers and Ivon Parks to grab a bite to eat, listen to tunes, and join some activities. Street fair going from 11AM until 4PM and providing 7 miles of free family-friendly fun.

RUM RUN
SAT – A tropical run in the Northwest! 10k & 5k, Kid’s “Tiki” run at Big Al’s in Beaverton.

LIVING HISTORY DAY AT CAMP WITHYCOME
SAT – Celebrate Armed Forces Day at Camp Withycome. Living history experts and vehicle collectors, authentic military uniforms, arms and equipment.

UFO FESTIVAL
THURS-SUN – Alien costume parade, free live music, a 5K run, pet costume contest, alien laser tag, live radio/podcasts and more out-of-this-world events.

CRAFTY WONDERLAND SPRING ART & CRAFT MARKET
SAT – Over 225 of the best and brightest handmade vendors from the NW and beyond!

PIONEER FAMILY FESTIVAL
FRI-SUNTeddy bear parade, carnival, entertainment, food vendors and much more.

LAKE OSWEGO HISTORIC HOME TOUR
SAT – 10th annual Oswego Heritage Council’s Historic Home Tour is proud to present seven properties to tour.

THE IMPORTANCE OF BEING EARNEST
Through June 11 – An all-female, all-star Portland cast leads this production of Oscar Wilde’s magnificent 19th Century comedy of manners and social status.

PERSUASION
Through May 27This adaptation of Jane Austen’s final novel follows the love story of pragmatic Anne Elliot and passionate Captain Wentworth.

ROCK, ROLL & REMEMBER
Through May 21A Tribute to Dick Clark and American Bandstand brings together over 40 hits from the 50s, 60s, 70s, and 80s. Up the fun by coming dressed in the fashion of your favorite decade and sing along.

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

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

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

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

FLASHBACK DANCE CRUISE
SAT (through May 27) – Gather your crew & rock your best retro threads from the 70’s, 80’s and 90’s! Get on the dance floor as our DJ’s play the hits of decades gone by.

URBAN SCAVENGER HUNT
ALL MONTH  Smartphone clues lead you on a fun & engaging walking tour of the city. Clues start you in the heart of downtown at Pioneer Courthouse Square and will take you on a scavenger hunt through the Arts District, on a streetcar ride and among the famous food carts.

SHANROCK’S TRIVIOLOGY
ALL MONTH – Various Portland Locations: Triviology pub quizzes are free to play, last a couple of hours, and are composed of seven short rounds, giving teams instant gratification for their efforts. Team size can range from one to five players, with prizes for everyone on the winning team.

HAUNTED PUB TOUR
All Month – This spine-tingling ghost tour explores Portland’s historic Old Town District, a vibrant area with beautiful 1800’s buildings, cobblestone streets and a wicked past.

PORTLAND ESCAPE ROOMS
All Month THURS-SUNCedar Hills/Beaverton Locations: Real-life room escape games are a type of physical adventure game in which people are locked in a room with other participants and have to use elements of the room to solve a series of puzzles, find clues, and escape the room within a set time limit.

VANCOUVER METRO EVENTS

DOZER DAY
SAT – Puts kids in the driver’s seat of real heavy construction equipment, fire engines, an ambulance and much more while educating about industry and building sustainable communities.

BARK RANGER WALKING TOUR
SAT – This ranger-led outdoor walking tour, designed for visitors and their dogs, will discuss the history of dogs at Fort Vancouver and Vancouver Barracks, as well as the overall history of the site. The tour will also highlight how to explore the park safely with dogs.

VANCOUVER SYMPHONY
SUN – The Vancouver Symphony’s Chamber Music Series continues its 2016-17 season at the Historic Kiggins Theatre with the 1930 cinematic beauty “City Girl.” Shot entirely on location in Oregon, “City Girl” returns to the Kiggins screen with an original score by composer/conductor John Paul and features four members of The Vancouver Symphony Orchestra.

HAZEL DELL PARADE OF BANDS
SAT – With 24 bands and over 120 entries, this is the largest parade in southwest Washington.

GUIDED WALKS AT COLUMBIA SPRINGS
Through October 18 – Each guided walk consists of an easy stroll or tour with themes such as plants, animals, geology, local history, and the fish hatchery. These events are appropriate for all ages and no registration is required. Spots are available at a first come, first served basis to the first 30 visitors.

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

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

NEW MOVIES OUT THIS WEEK
· Alien: Covenant
· Diary of a Wimpy Kid: The Long Haul
· Everything, Everything
· U Turn
· Fight for Space
· Legion of Brothers
· The Survivalist
· Champion
· The Commune

Click here for movie times and theaters.

WebAdLargeSquareEnterButton2

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

CLICK HERE TO VIEW THIS WEEK’S OPEN HOUSES

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


7 Tips to Improve a Fixer Upper

 

Look for Red Flags
Before signing on the dotted line, hire a home inspector to give the place a thorough evaluation. An inspection may cost $200-$300, but it is well worth the price if the inspector uncovers a major structural issue or another pricey problem. Tip: If the problem sounds like a money pit, it probably is.

Spy on the Neighbors
Scope out the neighborhood before starting any work. You don’t need to upgrade far beyond neighborhood standards. For example, if most homes have window air units, or none at all, you won’t recoup the cost of central air conditioning. Conversely, if granite countertops are a staple, you’ll lose money on your investment by installing laminate. Tip: Attend a few real estate open houses in the area to examine the homes’ interiors.

Remodel the Most Important Rooms
Kitchen and bathroom remodels are still high on the must have list, because they’re the rooms buyers look at first and use the most. What upgrades you make and how much you spend will depend on the market and your budget, but make it your mission to create bright, clean, family-friendly rooms.

Upgrade the Underbelly
The heating and air conditioning unit, water heater, wiring and plumbing should all be in good condition. If they aren’t, hire a licensed electrician to do the work, since if improperly done, it can lead to a fire and/or legal hassles.

Paint + Flooring = Dramatic Value
Real estate experts always advise giving walls and trim a fresh coat of paint, but don’t forget what’s underfoot. Old hardwood flooring hidden under outdated carpet and laminate is usually worth refinishing.

It’s the Little Things
Don’t underestimate the effect of inexpensive cosmetic improvements like new doorknobs, switch plates, toilet seats, ceiling fans, faucets and cabinet pulls.

Add Curb Appeal
Keep a clean, mowed front yard, a colorful planter and a welcome mat. If the home’s landscaping is overgrown and neglected, trim out the excess or plant a few inexpensive foundation bushes near the front. Tip: Mulch flowerbeds with a dark-colored mulch to add instant charm.

A good rule of thumb to keep in mind, is to invest in improvements that will add at least twice their cost to the home’s value.

Article courtesy of hgtv.com


This Week in Real Estate: May 15, 2017

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Happy Mother’s Day to all you moms. Thank you for the positive impact you make every single day.

Continued acceleration of home price growth leads to foreclosure activity dropping to its lowest level in nearly 12 years as reported by ATTOM Data Solutions This Week in Real Estate. Below are a few highlights from the second week of May that influence our business:

* U.S. Foreclosure Activity Drops to Lowest Level Since November 2005. ATTOM Data Solutions released its April 2017 U.S. Foreclosure Market data on Thursday, which shows foreclosure filings – default notices, scheduled auctions and bank repossessions – were reported on 77,049 U.S. properties in April, down 7 percent from the previous month and down 23 percent from a year ago to the lowest level since November 2005. A total of 34,085 U.S. properties started the foreclosure process in April, down 6 percent from the previous month and down 22 percent from a year ago and continuing well below the pre-recession average of more than 77,000 foreclosure starts per month between April 2005 and November 2007. Lenders completed foreclosure (REO) on 25,990 U.S. properties in April, down 9 percent from the previous month and down 22 percent from a year ago to the lowest level since February 2015 – a 26-month low and running just above the pre-recession average of 25,796 per month between April 2005 and November 2007.
Full Story… http://www.realtytrac.com/news/foreclosure-trends/april-2017-foreclosure-market-report/

* Homeowners Continue to Overestimate Their Home Value. Homeowners and appraisers continue to hold conflicting views on the value of their home, a gap that widened once again in April, according to the Home Price Perception Index from Quicken Loans. Appraised home values came in 1.9% lower than what homeowners expected as many Americans continued to overvalue their home. This marks the fifth consecutive month where the gap between appraiser and homeowner opinions widened. Although the gap continued to widen, appraised value increased in April. And while homeowners are overestimating the value of their homes, home price growth is accelerating. The HVI increased 5.08% annually in April, up from March’s annual increase of 3.3%.
Full Story…  http://www.housingwire.com/articles/40081-homeowners-continue-to-overestimate-their-home-value

* 3 Reasons The Housing Market is Not in a Bubble. With housing prices appreciating at levels that far exceed historical norms, some are fearful that the market is heading for another bubble. To alleviate that fear, we just need to look back at the reasons that caused the bubble ten years ago. Last decade, demand for housing was artificially propped up because mortgage lending standards were way too lenient. People that were not qualified to purchase were able to attain a mortgage anyway. Prices began to skyrocket. This increase in demand caused homebuilders in many markets to overbuild. Eventually, the excess in new construction and the flooding of the market with distressed properties, caused by the lack of appropriate lending standards, led to the housing crash. If we look at lending standards based on the Mortgage Credit Availability Index we can see that though standards have become more reasonable over the last few years, they are nowhere near where they were in the early 2000s. If we look at new construction, we can see that builders are not “over building.” Average annual housing starts in the first quarter of this year were not just below numbers recorded in 2002 – 2006, they are below starts going all the way back to 1980. If we look at home prices, most homes haven’t even returned to prices seen a decade ago. Bottom line is mortgage lending standards are appropriate, new construction is below what is necessary and home prices haven’t recovered. It appears fears of a housing bubble are over-exaggerated.
Full Story… http://www.keepingcurrentmatters.com/2017/05/11/3-reasons-the-housing-market-is-not-in-a-bubble/

Have a productive week!
Jason


Portland Metro Weekend Events: May 12-14, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
FOR MAY 12-14, 2017

 
MOTHER’S DAY EVENTS
SUN – Spend your afternoon on our Mother’s Day Brunch cruise and enjoy an elaborate buffet with breathtaking views. Choose between the Portland Spirit or Columbia Gorge Sternwheeler.
SUN – Treat Mom to a delicious brunch at the Oregon Zoo, and let the professional catering staff take care of the prep and cleanup.
SUN – From complimentary mimosas to menus for brunch, lunch or dinner, find the perfect place in the Portland Metro to celebrate the mom in your life.
SAT-SUN – Visit Crystal Springs Rhododendron Garden during peak bloom time for this Mother’s Day Rhododendron show & sale!
SUN – Join hundreds of people this Mother’s Day to honor a special woman in your life, and raise funds to empower the women and children of Rose Haven experiencing homeless, abuse and other disruptive life events. Enjoy mimosas, pastries, entertainment, prizes and a 5K walk.
SUN – Run Mama Run, 3-4 mile walks/runs through Mt Tabor park.

WANDERLUST CIRCUS & 3 LEG TORSO
SAT-SUN – Step right up and grab a seat as our comic tale of quick-witted kids and dastardly developers threads its way through jaw-dropping feats of acrobatics, aerial dance, juggling, contortion, and disciplines beyond naming.

VAMPIRE’S MASQUERADE BALL
SAT – A night of gothic elegance and decadence. Over 800 guests from the various gothic/industrial/alternative lifestyle communities from around the world gather in the Melody Ballroom to socialize and dance the night away.

ST JOHNS BIZARRE
SAT – A uniquely-crafted celebration that kicks off the summer street fair season in Portland. The Bizarre brings music, crafts, and food to the crowds attending the St Johns Parade, now in its 55th year.

DOGGIE DASH
SATWalk, run or stroll with your dog through downtown Portland, with 100% of proceeds going to the animals at OHS.

ROCK, ROLL & REMEMBER
Through May 21A Tribute to Dick Clark and American Bandstand brings together over 40 hits from the 50s, 60s, 70s, and 80s. Up the fun by coming dressed in the fashion of your favorite decade and sing along.

THE TOXIC AVENGER
Through SUN – Based on Lloyd Kaufman’s cult film, The Toxic Avenger, and winner of the Outer Critics Circle Award for Best Off-Broadway Musical, enjoy this charming love story and laugh-out-loud musical that has it all.

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

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

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

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

FLASHBACK DANCE CRUISE
SAT (through May 27) – Gather your crew & rock your best retro threads from the 70’s, 80’s and 90’s! Get on the dance floor as our DJ’s play the hits of decades gone by.

URBAN SCAVENGER HUNT
ALL MONTH  Smartphone clues lead you on a fun & engaging walking tour of the city. Clues start you in the heart of downtown at Pioneer Courthouse Square and will take you on a scavenger hunt through the Arts District, on a streetcar ride and among the famous food carts.

SHANROCK’S TRIVIOLOGY
ALL MONTH – Various Portland Locations: Triviology pub quizzes are free to play, last a couple of hours, and are composed of seven short rounds, giving teams instant gratification for their efforts. Team size can range from one to five players, with prizes for everyone on the winning team.

HAUNTED PUB TOUR
All Month – This spine-tingling ghost tour explores Portland’s historic Old Town District, a vibrant area with beautiful 1800’s buildings, cobblestone streets and a wicked past.

PORTLAND ESCAPE ROOMS
All Month THURS-SUNCedar Hills/Beaverton Locations: Real-life room escape games are a type of physical adventure game in which people are locked in a room with other participants and have to use elements of the room to solve a series of puzzles, find clues, and escape the room within a set time limit.

 

VANCOUVER METRO EVENTS

 

MOTHER’S DAY TEA
SAT – The perfect way to treat the important women in your life! A delicious menu featuring three types of sandwiches, assorted desserts, scones, and of course, tea!

TIP A TASTE FOR MOMS
SAT-SUNEnglish Estate and Rezabek Vineyards will be pouring tastings at the Estate with a special treat for moms. 12-6 p.m.

CAMAS PLANT & GARDEN FAIR
SAT – Explore the amazing selection of plants, trees, garden art and supplies, and much more provided by our dedicated local growers and vendors. Kids’ activities, live music, fresh food, and the shops and restaurants of downtown Camas.

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

GUIDED WALKS AT COLUMBIA SPRINGS
Through October 18 – Each guided walk consists of an easy stroll or tour with themes such as plants, animals, geology, local history, and the fish hatchery. These events are appropriate for all ages and no registration is required. Spots are available at a first come, first served basis to the first 30 visitors.

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

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

NEW MOVIES OUT THIS WEEK
· King Arthur: Legend of the Sword
· Bram Stoker’s Dracula
· The Wall
· Snatched
· Miles Between Us
· Paris Can Wait

Click here for movie times and theaters.

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

CLICK HERE TO VIEW THIS WEEK’S OPEN HOUSES

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


This Week in Real Estate: May 8, 2017

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While a million plus more homes became “equity rich” compared to the same time period last year, as reported by ATTOM Data Solutions This Week in Real Estate, the unemployment rate for April dropped to the lowest level in a decade. Below are a few highlights from the first week of May that influence our business:

* Equity Rich Properties Increase 1.4 Million. ATTOM Data Solutions released is Q1 2017 U.S. Home Equity & Underwater Report on Thursday finding that at the end of Q1 2017, there were more than 13.7 million (13,718,473) equity rich U.S. properties – where the combined loan amount secured by the property is 50 percent or less than the estimated market value of the property – representing 24.3 percent of all U.S. properties with a mortgage. That is up nearly 1.4 million from a year ago, when there was 12.4 million equity rich properties representing 22.0 percent of all properties with a mortgage as of the end of Q1 2016. States with the highest share of equity rich properties were Hawaii (38.4 percent), California (35.8 percent), New York (34.6 percent), Vermont (32.8 percent) and Oregon (31.3 percent). The top 10 Metro areas for highest share of equity rich properties were San Jose, CA (51.3 percent), San Francisco, CA (46.6 percent), Honolulu, HI (39.9 percent), Los Angeles, CA (39.1 percent), Pittsburgh, PA (34.2 percent), San Diego, CA (33.6 percent), Portland, OR (33.6 percent), Austin, TX (32.1 percent), Seattle, WA (32.1 percent) and New York, NY (32.0 percent).
Full Story… http://www.realtytrac.com/news/home-prices-and-sales/q1-2017-home-equity-underwater-report/

* Nationwide Recovery Continues. The NAHB/First American Leadings Markets Index (LMI), released Thursday, rose .01 point over the quarter to 1.0. Over the past year, the LMI grew by .05 point. The index uses single-family housing permits, employment, and home prices to measure proximity to a normal economic and housing market. The index is calculated for both the entire country and for 337 local markets, metropolitan statistical areas (MSAs). A value of 1.0 means the three components have individually, whether for the country as a whole or an individual metro area, achieved a level of recovery that combined averages 1.0. The current LMI Score combined with the upward trajectory of the Index was last observed in 2003, a period of normal. Over the housing boom years of 2004 – 2007, the LMI rose, peaking at 1.22 in 2006. The ensuing decline in the Index reflected the distress observed in the housing market and in the economy more generally. After falling to a low 0.78 in 2012, the LMI has been steadily climbing, in line with the overall economic recovery. Relative to 2003, a period when the Score of each of the LMI’s subcomponents reached 1.0, house prices are currently at 1.50, their peak level in 2007, while employment is currently at 0.98, .02 point below its peak level of 1.0. At 0.53 single-family permits are furthest away from normality. An alternative, but more speculative, interpretation of the trends in the components of the overall LMI is that the permits trend indicates that too few homes are in the pipeline to be built, contributing to the low housing inventory, while the prospects for housing demand, as suggested by the employment component, is closer to normalizing. Economic theory posits that, all else equal, in the presence of low housing inventory, healthy housing demand will be reflected in higher house prices.
Full Story…  http://eyeonhousing.org/2017/05/nationwide-recovery-continues/

* Unemployment Rate Drops to Lowest Level in a Decade in April as Economy Adds 211,000 Jobs. The U.S. job market rebounded strongly last month and the unemployment rate fell to the lowest level seen in a decade, government data released Friday morning showed. Employers added 211,000 jobs in April as the unemployment rate ticked down to 4.4 percent, the lowest level since May 2007. The report offered a snapshot of an increasingly solid economy. The U.S. labor market is still expanding at a steady clip even after 79 straight months of job gains, helping to heal much of the damage still lingering from the recession. “The re-acceleration in jobs should assuage fears that economic growth is slowing in any meaningful way,” said James Marple, senior economist at TD Economics. Job gains were seen in mining and manufacturing, but the bulk of job growth in April came from the much larger sectors of leisure and hospitality, education and health, and business services. At 4.4 percent, the headline unemployment rate is now below the longer-term level targeted by the Federal Reserve. Broader measures of unemployment and underemployment also continue to improve. The U-6 rate, a measure that includes people who have given up looking for work, as well as those who are employed part time but would like to be full time, fell to 8.6 percent in the month, the lowest level seen since 2007.
Full Story… https://www.washingtonpost.com/news/wonk/wp/2017/05/05/the-u-s-job-market-is-expected-to-rebound-in-april-if-it-doesnt-that-could-be-cause-for-concern/?utm_term=.779d79f8b680

 

Have a productive week!
Jason


Portland Metro Weekend Event Planner: May 5-7, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
FOR MAY 5-7, 2017

 

SPRING GARDEN FAIR

SAT-SUN – Shop for plants and garden decor, eat at the food court, ask a master gardener questions, and attend 10-minute classes at the Spring Garden Fair at Clackamas County Fairgrounds in Canby. No pets.

CINCO DE MAYO FIESTA
FRI-SUN – The largest multicultural festival in the state of Oregon. Enjoy top entertainment, carnival rides, Artisan Village, artwork and so much more!

CINCO DE MAYO RUN/WALK
THURS-SUNHalf marathon, 10K & 5K courses. Celebrating 15 years with an all new party and courses.

BRIDGETOWN COMEDY FESTIVAL
THURS-SUN – Featuring over 100 of the top comedians in the business, with over 50 of those making their Bridgetown debut.

PORTLAND TRAIN DAY
SAT – Train rides, live music, face painting, food carts and a special appearance by Thomas the Tank Engine.

THE GREAT INFLATABLE RACE
SAT – A fun run with inflatable obstacles spread throughout the running course. You and your friends will feel like kids again as you jump, dive and bounce on our custom-designed inflatables. Get fit, support a good cause, and create epic memories that will last you a lifetime!

THE TOXIC AVENGER
Through May 14 – Based on Lloyd Kaufman’s cult film, The Toxic Avenger, and winner of the Outer Critics Circle Award for Best Off-Broadway Musical, enjoy this charming love story and laugh-out-loud musical that has it all.

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

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

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

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

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

FLASHBACK DANCE CRUISE
SAT (through May 27) – Gather your crew & rock your best retro threads from the 70’s, 80’s and 90’s! Get on the dance floor as our DJ’s play the hits of decades gone by.

URBAN SCAVENGER HUNT
ALL MONTH  Smartphone clues lead you on a fun & engaging walking tour of the city. Clues start you in the heart of downtown at Pioneer Courthouse Square and will take you on a scavenger hunt through the Arts District, on a streetcar ride and among the famous food carts.

SHANROCK’S TRIVIOLOGY
ALL MONTH – Various Portland Locations: Triviology pub quizzes are free to play, last a couple of hours, and are composed of seven short rounds, giving teams instant gratification for their efforts. Team size can range from one to five players, with prizes for everyone on the winning team.

HAUNTED PUB TOUR
All Month – This spine-tingling ghost tour explores Portland’s historic Old Town District, a vibrant area with beautiful 1800’s buildings, cobblestone streets and a wicked past.

PORTLAND ESCAPE ROOMS
All Month THURS-SUNCedar Hills/Beaverton Locations: Real-life room escape games are a type of physical adventure game in which people are locked in a room with other participants and have to use elements of the room to solve a series of puzzles, find clues, and escape the room within a set time limit.

VANCOUVER METRO EVENTS

NATIVE AMERICAN MARKETPLACE
FRI – Visit more than 20 Native American artists and craftspeople during May’s First Friday at the Union Chapel.

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

GUIDED WALKS AT COLUMBIA SPRINGS
Through October 18 – Each guided walk consists of an easy stroll or tour with themes such as plants, animals, geology, local history, and the fish hatchery. These events are appropriate for all ages and no registration is required. Spots are available at a first come, first served basis to the first 30 visitors.

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

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

NEW MOVIES OUT THIS WEEK
· Guardians of the Galaxy Vol 2
· Max 2, White House Hero
· The Dinner
· Risk
· 3 Generations
· The Lovers

Click here for movie times and theaters.

WebAdLargeSquareEnterButton2

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

CLICK HERE TO VIEW THIS WEEK’S OPEN HOUSES

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


This Week in Real Estate: May 1, 2017

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Cities in the Pacific Northwest continue to experience this country’s highest year-over-year price appreciation as reported by Case-Shiller This Week in Real Estate. You can now add to the region’s profile some of the highest percent return on previous purchase price. Below are a few highlights from the fourth week of April that influence our business:

* ATTOM: Average Homeowner Gains 24% Return in Equity Since Purchase. ATTOM Data Solutions released its Q1 2017 U.S. Home Sales Report on Thursday, which shows that homeowners who sold in the first quarter realized an average price gain of $44,000 since purchase, representing an average 24 percent return on the purchase price – the highest average price gain for home sellers in terms of both dollars and percent returns since Q3 2007. Meanwhile the report also shows that homeowners who sold in the first quarter had owned an average of 7.97 years, down slightly from a record-high average homeownership tenure of 8.00 years in Q4 2016, but still up from 7.68 years in Q1 2016. “The first quarter of 2017 was the most profitable time to be a home seller in nearly a decade, and yet homeowners are continuing to stay put in their homes longer before selling,” said Daren Blomquist, senior vice president with ATTOM Data Solutions. “This counterintuitive combination is in part the result of the low inventory of move-up homes available for current homeowners, while also perpetuating the scarcity of starter homes available for first-time homebuyers. Metro areas with the highest percent return on the previous purchase price were San Jose, CA (71 percent ROI); San Francisco, CA (65 percent); Seattle, WA (56 percent); Portland, OR (52 percent); and Modesto, CA (51 percent).
Full Story… http://www.realtytrac.com/news/foreclosure-trends/q1-2017-u-s-home-sales-report/

* New Home Sales Soar Above Market Expectations. New home sales soared in March, beating out experts’ expectations, but new homes for sale dropped, according to the report released Tuesday by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. Sales of new single-family homes in March 2017 came in at a seasonally adjusted annual rate of 621,000, according to the report. This is an increase of 5.8% from February’s 587,000 and is 15.6% higher than March 2016’s 537,000 sales. “New home sales increased to an annualized rate of 621,000, well above the Street expectations of 587,000,” iServe Residential Lending director of capital markets Brent Nyitray wrote in a note to his clients. The median sales price of new homes sold in March increased to $315,100, up from $296,200 in February.
Full Story…  http://www.housingwire.com/articles/39947-new-home-sales-soar-above-market-expectations?eid=322520585&bid=1735876

* Case-Shiller: Home Prices Hit Fourth Consecutive All-Time High. Home prices continued to expand in February, hitting their fourth consecutive all-time high, according to the S&P Dow Jones Indices. Seattle, Portland and Dallas reported the highest year-over-year gains among the 20-city composite. In February, Seattle led the way with a 12.2% year-over-year price increase, followed by Portland with 9.7%. Dallas replaced Denver in the top three with an 8.8% increase.
Full Story… https://www.spice-indices.com/idpfiles/spice-assets/resources/public/documents/516352_cshomeprice-release-0425.pdf?force_download=true

 

Have a productive week!
Jason


©2016 BHH Affiliates, LLC. An independently operated subsidiary of HomeServices of America, Inc., a Berkshire Hathaway affiliate, and a franchisee of BHH Affiliates, LLC. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc. Equal Housing Opportunity.