This Week in Real Estate: April 10, 2017

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As home prices continue to surge, ADP reported This Week in Real Estate that the labor market continues to strengthen, recording the best month for new jobs since December 2014. Below are a few highlights from the first week of April that influence our business:

* New Homes Strengthen Economy, Spur Job Growth. As the housing industry celebrates New Home Month in April, newly released data from the U.S. Commerce Department confirms the significant contribution that residential construction has on the U.S. economy. Final estimates of fourth quarter 2016 gross domestic product (GDP) growth show that housing’s share of GDP stands at 15.6%. “Home building is a key driver of the American economy,” said Granger MacDonald, chairman of the National Association of Home Builders (NAHB). “Housing creates new income and jobs, purchases of goods and services, and revenue for local governments.” NAHB research shows that building 100 single-family homes in a typical metro area creates 297 full-time jobs and generates $28 million in wage and business income and $11.1 million in federal, state and local tax revenue.
Full Story… http://www.nahb.org/en/news-and-publications/press-releases/2017/04/new-homes-strengthen-economy-spur-job-growth.aspx

* U.S. Home Price Report Shows Prices Up 7 Percent in February. CoreLogic released its Home Price Index (HPI) and HPI Forecast for February 2017 on Tuesday which shows home prices are up both year over year and month over month. Home prices nationwide, including distressed sales, increased year over year by 7 percent in February 2017 compared with February 2016 and increased month over month by 1 percent in February 2017 compared with January 2017. The CoreLogic HPI Forecast indicates that home prices will increase by 4.7 percent on a year over year basis from February 2017 to February 2018, and on a month over month basis home prices are expected to increase by 0.4 percent from February 2017 to March 2017. “Home prices and rents have risen the most in local markets with high demand and limited supply, such as Seattle, Portland and Denver,” said Dr. Frank Nothaft, chief economist for CoreLogic. The CoreLogic Home Price Index is projecting an additional 5 percent rise in home prices nationally over the next 12 months.
Full Story…  http://www.corelogic.com/about-us/news/corelogic-us-home-price-report-shows-prices-up-7-percent-in-february-2017.aspx

* ADP: U.S. Companies Hire Most Workers in Over Two Years. U.S. companies added 263,000 workers in March, the most since December 2014, suggesting further tightening of the labor market, payrolls processor ADP said on Wednesday. ADP’s March figure easily beat the median forecast of 187,000 increase among economists surveyed by Reuters. Strong job gains in the coming months will likely add upward pressure on wages, supporting the Federal Reserve’s view for at least two more interest rate increases by the end of 2017.
Full Story… http://reut.rs/2ojmJKT

Have a productive week!
Jason


Portland Metro Weekend Event Planner: April 7-9, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
FOR APRIL 7-9, 2017

 

EASTER EGG HUNT GUIDE
Through April 16 – Find Easter egg hunts in the Portland Metro area.

BRIDGE TO BREWS
SUN – Participants will return from this incredible run or walk (the only one that takes you over the Fremont Bridge) and be treated to tasty libations from many great local breweries, distilleries and wineries.

GRAND WINE TASTING
FRI – Sample award-winning wines from over 20 Gorge wineries, all pouring under the same roof for one night only. Socialize with vintners and learn about our renowned wine region.

HOPPED CIDER FESTIVAL
SAT – More than 36 hopped ciders from around the country! Plus free pours of far-flung hopped ciders throughout the day!

BELLYDANCE SHOW: ALICE IN WONDERLAND
SUN – Celebrating and imagining Middle Eastern dance for the 21st century, this tour uses the magic of Alice in Wonderland and its colorful characters to explore world of fusion dance.

AFRICAN DANCE
THURS-SAT – Traditional African dance with contemporary choreography and spoken word. Last with White Bird in 2005, Evidence returns with a vibrant and uplifting musical program, set to scores ranging from Stevie Wonder to Belgian-Congolese singer Zap Mama.

TULIP FEST
Through April 30 – Stroll through 40 acres of stunning beauty, experience expansive views of vineyards, distant mountains, and a few mud puddles. Fresh flowers, food, and fun for the entire family, including well behaved dogs on leashes!

AUTO PARTS SWAP MEET, PORTLAND INTERNATIONAL RACEWAY
THURS-SUN – 5 miles of booths fill every available space inside the road course at Portland International Raceway.

AUTO PARTS SWAP MEET, EXPO CENTER
FRI-SUN – The largest auto parts swap meet on the West Coast with approximately 3,500 vendor stalls and over 50,000 shoppers each April at the Portland Expo Center.

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

FISHING DERBY FOR KIDS
FRI-SAT – Introduces kids to the benefits of fishing as an individual and as a family activity. This derby is aimed at getting more kids outdoors, involved in fishing, and aware of our natural environment.

THE RAINMAKER
Through April 22 – In The Rainmaker, at a time of paralyzing drought in the West, we discover a girl whose father and two brothers are worried as much about her becoming an old maid as they are about their dying cattle. What schemes will her family go to find her a husband?

WW1 ANNIVERSARY EVENT
SAT – This event will feature costumed interpreters, family-friendly crafts and activities, and a presentation on the DH-4 Liberty plane.

THE RABBIT HOLLOW
Through April 16 – Enjoy a relaxed and fun family-filled experience as you wander through the forest, which is home to a number of bunnies. You’ll find a number of interesting rabbits along the bunny trail and gather treats and great photos along the way.

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
·         Going In Style
·         Aftermath
·         Smurfs
·         Graduation
·         1 Mile to You
·         Speech & Debate
·         Salt & Fire
·         The Void
·         The Ticket
·         Mine
·         Gifted

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: April 3, 2017

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As Q1 comes to a close and we welcome in the spring selling season, This Week in Real Estate, we do so at a time when consumer confidence reaches a decade and a half high. Below are a few highlights from the last week of March that influence our business:

* Consumer Confidence Surges to 16-Year High. Consumer confidence leapt forward in March to the highest level in 16 years, according to the Consumer Confidence Survey conducted by The Conference Board by Nielsen. The Consumer Confidence Index improved significantly in March to 125.6, up from 116.1 in February. The Present Situation Index increased from 134.1 to 143.1 and the Expectations Index increased to 113.8, up from 103.9 last month. “Consumer confidence increased sharply in March to its highest level since December 2000,” said Lynn Franco, The Conference Board director of economic indicators. “Consumers’ assessment of current business and labor market conditions improved considerably. Consumers also expressed much greater optimism regarding the short-term outlook for business, jobs and personal income prospects. Thus, consumers feel current economic conditions have improved over the recent period, and their renewed optimism suggests the possibility of some upside to the prospects for economic growth in the coming months.”
Full Story… https://www.conference-board.org/data/consumerconfidence.cfm

* Pending Sales Spring Up. The Pending Home Sales Index increased 5.5% in February 2017 to its highest level since April 2016, and the second highest since May 2006. The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased to 112.3 in February, up from 106.4 in January and up 2.6% from the same month a year ago. The PHSI increased in all four regions, ranging from 11.4% in the Midwest to 3.1% in the West. Year-over-Year, the PHSI increased 6.6% in the Northeast and 4.2% in the South, while falling slightly in the West and Midwest. February existing sales were slowed by inventory constraints, and these shortages are expected to continue, especially in the lower- and mid-market price ranges. However, builder sentiment remains strong, and new home sales are trending positive. As the economy continues to add jobs, increased demand among first-time buyers will help fuel new and existing sales in 2017.
Full Story…  http://eyeonhousing.org/2017/03/pending-sales-spring-up/

* Home Prices in the First Month of 2017. S&P Dow Jones Indices released the Home Price Index for January 2017 on Tuesday. The Case-Shiller U.S. National Home Price Index rose at a seasonally adjusted annual growth rate of 7.9%, slower than the 9.2% increase in December. House prices dropped to the lowest level in the first month of 2012. Five years later, house prices surpassed the pre-recession peak of 2006 and hit the highest level historically. Of the twenty (20) major U.S. metropolitan areas highlighted in the report Seattle had the highest annual home price appreciation growth rate at 22.6%, followed by Chicago (16.5%), Denver (14%), Washington D.C. (12.7%) and Portland (12.2%).
Full Story… http://eyeonhousing.org/2017/03/home-prices-in-the-first-month-of-2017/

Have a productive week!
Jason


Portland Metro Weekend Event Planner: March 31-April 2, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
FOR MARCH 31-April 2, 2017

 

WHALE WATCHING WEEK

Through FRI – Volunteers will help you spot whales at 24 sites during Whale Watching Week. Mileage shown is to Depoe Bay Whale Center in Newport. Repeats in December.

EASTER BUNNY WELCOME PARTY
SAT – Help welcome the Easter Bunny with music, games and prizes, balloon artistry, cupcake decorating, crafts and the opportunity to meet Rojo the lama and Napolean the alpaca.

OREGON GHOST CONFERENCE

FRI-SUNOregon Ghost Conference features guest speakers, classes, vendors, ghost tours, and social events in Seaside.

UMBRELLA FESTIVAL
THURS-SUNCircus, burlesque, vaudeville, music, dance, and physical comedy have a home under one big umbrella.

TULIP FEST
Through April 30 – Stroll through 40 acres of stunning beauty, experience expansive views of vineyards, distant mountains, and a few mud puddles. Fresh flowers, food, and fun for the entire family, including well behaved dogs on leashes!

DUALITY: DANCE BALLET OF INDIA
SAT – With an international cast of professional dancers from Delhi, Chennai and the U.S., this performance features Indian dance forms Bharatha Natyam and the martial arts-based dance form Chhau, as well as local modern dancers in an elegant contemporary dance production.

TONY STARLIGHT SHOWROOM
SAT – 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.

SHAFTY: PORTLAND’S TRIBUTE TO PHISH
SATShafty is the country’s finest Phish tribute band! What began as essentially a goof – a chance to throw down some familiar beats and jam for whoever felt like listening – ultimately lit a spark under the Phish fans in the Portland music scene.

FESTIVAL OF COLORS: RANG BARSE 2017
SAT – Come and celebrate the Festival of Colors with your friends and family and make new friends as well.

FEATHERS AND TEETH
Through SUN – This fairytale concoction of teen angst and devastating loss make for a grisly good time in this crackling stew of dark comedy, family drama and fantastical carnage.

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 – 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

THE RABBIT HOLLOW
Through April 16 – Enjoy a relaxed and fun family-filled experience as you wander through the forest which is home to a number of bunnies. You’ll find a number of interesting rabbits along the bunny trail and gather treats and great photos along the way.

SPRING FLING
SAT – Join in the fun and laughter with your friends and family! Enjoy games, crafts, bunny sack races, surprise guests and more. Bring a festive treat, snack or drink to share.

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
· Ghost In The Shell
· Boss Baby
· The Zookeeper’s Wife
· The Discovery
· The Void
· Live Cargo
· The Blackcoat’s Daughter

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 today 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.


Enter to Win our $50,000 Home Update Sweepstakes!

 

We are very excited to announce the new Berkshire Hathaway HomeServices $50,000 national “Love Your Home” Sweepstakes! One lucky winner will receive $50,000 to update their home, and one person each week will win $2,500!

To enter the sweepstakes, visit: LoveYourHomeSweeps.com from March 27 – June 16, 2017.

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Open to legal residents of the 50 United States and D.C., must be 21 years or older. To enter and for complete details and odds, visit www.LoveYourHomeSweeps.com

Berkshire Hathaway HomeServices and their respective affiliates, subsidiaries, independent contractors, parent corporations, advertising and promotional agencies, and their respective officers, directors, employees and agents are not eligible to participate.


This Week in Real Estate: March 27, 2017

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A theme of highs and lows This Week in Real Estate. The value of the housing market hits a 10-year high while both cash and distressed sales totals hit nine-year lows in 2016. Below are a few highlights from the third full week of March that influence our business:

* Value of the Housing Market Hits a 10-Year High. The value of the housing market hit a 10-year high in 2016 as equity reached new levels, according to the Urban Institute’s latest report. The Federal Reserve’s Flow of Funds report has consistently indicated an increasing total value of the housing market driven by growing household equity since 2012, and 2016 was no different. Total debt and mortgages held steady at $10.3 trillion, but household equity reached a new high of $14 trillion. The total value of the housing market increased to $24.3 trillion, surpassing even the pre-crisis peak of $23.9 trillion in 2006.
Full Story… http://www.housingwire.com/articles/39669-value-of-housing-market-hits-10-year-high

* 2016 Cash and Distressed Sales Totals Hit Nine-Year Lows. The share of homes sold for cash fell to the lowest level in nearly a decade in full-year 2016. CoreLogic said that 32.1 percent of all home sales in the 12-month period ending in December closed without the benefit of a mortgage. This was a decrease of 2.2 percentage points from the 2015 share. The previous low point for such sales was in 2007 when cash sales accounted for a 27 percent of sales. CoreLogic also noted that distressed home sales, a total of both short sales and sales of lender-owned real estate (REO) accounted for 8.9 percent of all sales for the year, also the lowest share since 2007. At its peak in January 2009, distressed sales totaled 32.4 percent of all sales with REO sales representing 27.9 percent of that share.
Full Story…  http://www.mortgagenewsdaily.com/03222017_corelogic_distress_cash_sales.asp

* Positive Trend For New Home Sales. Contracts for new home sales expanded by 6.1% in February, according to estimates from the joint data release of HUD and the Census Bureau. The growth in sales continues along a positive trend for the market, which is supported by solid job growth, improving household formations, continuing favorable housing affordability conditions, and tight existing home inventory. The seasonally adjusted annual pace for February new single-family home sales was 592,000. This is 6.1% better than January and a 12.8% gain over a year ago. The most recent data also indicate a growing share of homes not-yet-started in builder inventory. For example, on a year-over-year basis, homes under construction in inventory have increased by almost 6% over the last year. Completed, ready-to-occupy homes (there are only 63,000) are up 5% since February of last year. In contrast, homes not-yet-listed in inventory have increased 42%, from 36,000 in February of 2016 to 51,000 last month. Regionally, all areas except the Northeast saw monthly growth in sales, with notable growth of 31% in the Midwest. Sales in the Northeast were down 21%. Smaller growth of 4% and 8% was recorded in the South and West respectively.
Full Story… http://eyeonhousing.org/2017/03/positive-trend-for-new-home-sales/

Have a productive week!
Jason


Portland Metro Weekend Event Planner: March 24-26, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
FOR MARCH 24-26, 2017

 

TECH FEST NW
SAT-SUN – Explore the best of tech trends—from Artificial Intelligence to cannatech—in an up-close and personal way. With four tracks of content—Virtual Reality, Artificial Intelligence & Robotics, Lifestyle Tech, and Digital Storytelling. There’s truly something for everyone with an eye and ear for the tech universe.

PORTLAND GOLD & TREASURE SHOW
SAT-SUN – Presenting a unique opportunity where local chapters, state directors, land rights advocates, leading industry manufacturers, dealers and experts come together to welcome a new audience pursuing an interest in gold prospecting.

NORTHWEST HORSE FAIR & EXPO
FRI-SUN – Combining first-rate education, entertainment, and shopping. Whether you own horses or are a horse lover at heart, are a beginner or professional, are interested in dressage or trail riding, there is truly something for everyone.

HOLI HAI
SUNFestival of Colors is the happiest festival in Portland! We celebrate the coming of spring, the joy of friendship, and equality for all. All ages, nationalities and ethnicities are encouraged to participate!

WORLD WATER DAY PUB CRAWL
FRI – Join Base Camp Brewery, Coopers Hall, Cyrils at Clay Pigeon and Portland Roasting Coffee for a neighborhood pub crawl! Start out on Oak Street in the Industrial Eastside neighborhood from 5PM-8PM for great drinks, food, and great prizes. Walk the route around the neighborhood and stop by each station for a special treat!

CIDER RITE OF SPRING
SAT – Special feature this year includes a private VIP lounge experience in the balcony space, with catering by Whole Foods Market and industry-leading cidermakers showcasing a VIP exclusive cider. Whole Foods will be providing cheese pairings specific to each special cider offering.

TULIP FEST
Through April 30 – Stroll through 40 acres of stunning beauty, experience expansive views of vineyards, distant mountains, and a few mud puddles. Fresh flowers, food, and fun for the entire family, including well-behaved dogs on leashes!

TULIP TRAIL RUN
SAT – 3rd annual 5K & 10K Run. An off-road run through tulip fields and around the farm benefiting the Oregon City High School Track and Field and Cross Country teams.

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.

FRIDAY DANCE PARTY
FRI – Giant music videos, colorful lights, and pounding music await you at the ’80s Video Dance Attack in Lola’s Room or McMenamins Crystal Ballroom for age 21+. Discount tickets $6 for two people.

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.

CRIMES OF THE HEART
SAT through March 26 – Three eccentric sisters who have committed Crimes of the Heart reunite at their grandfather’s home, at Mask & Mirror Community Theatre in Tigard. Discount tickets $11.

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

SPRING BARREL TASTING WEEKEND
FRI-SUN – Hosted by Three Brothers Vineyard & Winery along with Bethany Vineyards & Gouger Cellers. Sample their 2015 Pinot Noir, Tempranillo and a blend of Cabernet Sauvignon/Merlot/Syrah (often labeled as Brethren Cuvee).

‘COUVE CLOVER RUN
SUN – Earn your post-event party by running or walking 3, 7, or 10 miles. Enjoy soup, green beer, hot drinks, and treats, hosted by Main Event and other downtown Vancouver businesses.

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

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
·         Life
·         King Arthur
·         Power Rangers
·         Chips
·         Dig Two Graves
·         The Leveling
·         Wilson

Click here for movie times and theaters.

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: March 20, 2017

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Favorable news This Week in Real Estate from the new construction sector as builder confidence hits a 12-year high and single-family housing starts reach its highest level since late 2007. Below are a few highlights from the second full week of March that influence our business:

* Builder Confidence Hits 12-Year High. Builder confidence in the market for newly-built single-family homes jumped six points to a level of 71 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This is the highest reading since June 2005. All three HMI components posted robust gains in March. The component gauging sales conditions increased seven points to 78 while the index charting sales expectations in the next six months rose five points to 78. Meanwhile, the component measuring buyer traffic jumped eight points to 54. Looking at the three-month moving averages for regional HMI scores, the Midwest increased three points to 68 and the South rose one point to 68. The West dipped three points to 76 and the Northeast edged one point lower to 48.
Full Story… http://www.nahb.org/en/news-and-publications/press-releases/2017/03/builder-confidence-hits-twelve-year-high.aspx

* MBA: Mortgage Applications Rise Three-Weeks Straight. Mortgage applications increased three-weeks straight as the market gears up for the spring home-buying season. The latest update from the Mortgage Bankers Association Weekly Mortgage Applications Survey for the week ending March 10 found that applications increased 3.1% from one week earlier. This is similar to the previous week’s 3.3% increase in applications. Both refinance and purchase applications rose, helping boost overall application volume. The Refinance Index increased 4% from the previous week, while the seasonally adjusted Purchase Index increased 2% from one week earlier. Mortgage interest rates for most products jumped close to two-year highs. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($424,100 or less) now sits at its highest level since April 2014, growing to 4.46% from 4.36%. Also reaching its highest level since April 2014, the average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $424,100) increased to 4.44% from 4.27%.
Full Story…  http://www.housingwire.com/articles/39572-mba-mortgage-applications-rise-three-weeks-straight?eid=322520585&bid=1693359

* Single-Family Housing Starts Reach Highest Level Since Late 2007. Nationwide housing starts rose 3 percent in February from an upwardly revised January reading to a seasonally adjusted annual rate of 1.288 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. Single-family production increased 6.5 percent to 872,000 units – its highest reading in nearly a decade – while multifamily starts fell 3.7 percent to 416,000 units. “This month’s gain in single-family starts is consistent with rising builder confidence in the housing market,” said Granger MacDonald, chairman of the National Association of Home Builders (NAHB). “We should see single-family production continue to grow throughout the year, tempered somewhat by supply-side constraints such as access to lots and labor.” Regionally in February, combined single-family and multifamily housing production (starts) rose 35.7 in the West. Starts fell by 3.8 percent in the South, 4.6 percent in the Midwest and 9.8 percent in the Northeast. Regionally, overall permits rose 25.4 percent in the Midwest. Permits fell 10 percent in the West, 10.4 percent in the South and 22.3 percent in the Northeast.
Full Story… http://www.nahb.org/en/news-and-publications/press-releases/2017/03/single-family-housing-starts-reach-highest-level-since-late-2007.aspx

Have a productive week!
Jason


10-Minute Tricks: Freshen Up your Home for Spring!

With spring fever comes a desire for a change in décor. Check out our top 7 quick, easy, and dollar-conscious ways to freshen up your living space before the flowers start to bud.


Rotate your Artwork

Are your walls cluttered with stagnant artwork? If so, it’s time for a change. Some people hang everything they own on every wall. Look at it all the time, and you start taking it for granted. Try this: Separate art into summer and winter piles. Hang the lighter, pastel colors for spring and summer, and put the darker oil paintings in storage. Every six months, rotate your pieces. This way, you enjoy your art with a new vigor, and it’s something you can do in minutes.

Natural Scents

Spring is not only a colorful season, but a fragrant one, so bring the aroma indoors. Scents have a profound effect on mood. Infuse aromas into your décor with essential oils, natural candles, fresh cut flowers, or incense to change the overall feeling of a space. A quick, floral tip: Purchase an inexpensive bouquet of flowers, split them up by color, and place the bunches in small vases around your home.

Buy New Bulbs

You’re thinking flower bulbs, right? Not a bad idea, but we’re talking about light bulbs. Many of us aren’t using our lights properly­—in the winter you need more light, but in the spring you can get away with less. Swap your 60-watt bulb with a 3-way bulb to allow you to soften a room’s light.

Let the Sunshine In

In the winter, dirty windows can go unnoticed. On the first day of spring, take advantage of the sunny season by giving the windows a wash. You can have a gorgeous room, but if the windows are dirty, it won’t look as beautiful or as bright. As an added tip, pull back dark window treatments and add a shade or valance for a touch of color. Or, you can also replace window treatments with ecru or white sheers for an elegant look.

Update Accessories

Just as you’d add a scarf or necklace to enhance an outfit, do the same with your home—dress your home like you would yourself. Look for great accent pillows in bright colors. Put away the winter throws and drape light, bright throws on your sofa. Pick out spring-hued vases or candles to boost a cocktail or dining room table.

Beautify your Boudoir

Bright, new bedding can do wonders for your personal space. Tuck away the heavy, winter flannel comforter and pull out crisp linens with coverlets for color. Bring in the spring with floral-designed spreads or colorful solids. Don’t forget accent pillows for added style and comfort.

Lose the Magnets

In just minutes, you can tidy up a kitchen by getting rid of the scraps of paper, business cards and take-out menus stuck to the fridge. If you have odds and ends everywhere, it looks messy. If you clear it, your kitchen looks and feels organized.

Article courtesy of HGTV.com


Portland Metro Weekend Event Planner: March 17-19, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
FOR MARCH 17-19, 2017

 

ST. PATRICK’S DAY CELEBRATION
FRI – Join the all-Ireland cultural society of Oregon in celebrating St Patrick’s Day. Live music, Irish dancers, bag pipes, children’s activities and much more!

ST. PATRICK’S DAY FESTIVAL AT KELLS
FRI-SUN – Start off St. Patrick’s Day with live music, dancing and bagpipes in both the pubs and tents. On Saturday, Kells downtown will host the 7th annual black-tie ‘smoker’—a boxing event that matches Golden Glove boxers from Ireland against the best USA amateur fighters.

ST. PATRICK’S DAY AT MCMENAMINS
FRI-SAT – Visit your favorite McMenamins for special St Patrick’s Day celebrations. Check out what events are going on at each of your local McMenamins

ST. PATRICK’S DAY PARADE & FESTIVAL
SAT – Fun for the whole family! Fun run, parade, carnival & live entertainment!

ST. PATRICK’S BAR CRAWL
FRIBarfly Mystery Bar Bus Tours. Don’t mess around with any of those icky “family friendly” so-called St Pat’s celebrations. Trust your friends at BarFly to show you the best time in this dirty old town.

STUMPTOWN LEPRE-CON
SAT – Costumes are required with a St. Paddy’s Day theme! Wear something green, blinky and illuminated. Get into the spirit of the season.

SHAMROCK RUN & FITNESS FAIR
FRI-SUN – Visit the Shamrock Fitness Fair at the Oregon Convention center, with more than 80 booths featuring fitness products, sampling, games and contests. Sunday’s run/walk has distances for everyone from a Half Marathon to a kid’s 1K fun run.

DIRTY LEPRECHAUN
SAT – Fun and challenging obstacles, mud, beer, food, music, bonfires, warm changing rooms and more! It’s going to be the funnest, coolest, muddiest celebration ever!

IRISH CRAFT ALE FESTIVAL
FRI-SUN – As well as great beer, there will be bagpipers, 12 live bands and Irish dancers. Irish food including haddock, fish and chips, Irish lamb stew, and corned beef sandwiches.

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.

FRIDAY DANCE PARTY
FRI – Giant music videos, colorful lights, and pounding music await you at the ’80s Video Dance Attack in Lola’s Room or McMenamins Crystal Ballroom for age 21+. Discount tickets $6 for two people.

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.

CRIMES OF THE HEART
SAT through March 26 – Three eccentric sisters who have committed Crimes of the Heart reunite at their grandfather’s home, at Mask & Mirror Community Theatre in Tigard. Discount tickets $11.

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

VANCOUVER SPRING BREWFEST
FRI-SAT – Not only will you be able to sample the best local beers, you’ll also be able to take in the March Madness games! TVs will be raffled off at the end of the festival.

VANCOUVER FIREFIGHTERS PIPES & DRUMS PUB TOUR
FRI – Watch the Vancouver Firefighters Pipes & Drums crew bring the St. Patrick’s Day spirit to various pubs around Vancouver.

WALKING ADVENTURES INTERNATIONAL 6K & 10K
SAT – Guides Dan Friesen & Scott Isom will each be taking a group of 30 walkers on a 10K guided walk. Contact us as  soon as possible to register for the guided group. Space is limited! Self-guided directions will also be available. Dan and Scott will both be giving presentations along the way, sharing history, trivia and interesting facts on this area of Vancouver, Washington.

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
·         Beauty & The Beast
·         All Nighter
·         T2 Trainspotting
·         Mean Dreams
·         Song to Song
·         The Belko Experiment
·         Goon: Last of the Enforcers

Click here for movie times and theaters.

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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