We are happy to announce the 4th Quarter Chairman’s Report is now available to read online. Discover where the real estate market is headed for 2015 and review 4th Quarter Market Stats for the Portland Metro and SW Washington. Special thanks to our Chairman, Bert Waugh, Jr.
Refinancing activity, positive news for housing starts, and builder confidence dominate the headlines in This Week in Real Estate. Below are a few of the highlights from the third week of 2015:
* Mortgage applications rise on refinancing surge. Applications to refinance increased 22 percent from the previous week, and are now up 63 percent from a year ago. “This increase was largely due to mortgage rates dropping to their lowest level since May 2013. However, the recent reduction in FHA mortgage insurance premiums also played a role: FHA refinance applications increased 57 percent last week,” said Mike Fratantoni, MBA chief economist. Full story… http://www.cnbc.com/id/102353506
* Confidence among U.S. home builders held steady in January, giving back very little following a sizeable jump toward the end of 2014. A monthly index of builder sentiment from the National Association of Home Builders fell one point in January to 57 from December. Anything above 50 is considered positive sentiment, and this marks seven straight months above 50. “Steady economic growth, rising consumer confidence and a growing labor market will help the housing market continue to move forward in 2015,” said the association’s Chief Economist David Crowe. On a three-month moving average, builder confidence in the West rose by four points to 66. Full Story… http://www.cnbc.com/id/102350914
* Builders broke ground in December on the most single-family homes in almost seven years, propelling an unexpectedly large gain in U.S. housing starts that signals construction will contribute to economic growth in 2015. For all of 2014, groundbreaking increased 8.8 percent to 1.01 million units, the highest since 2007. Single-family home starts, the largest part of the market, jumped 7.2 percent to a 728,000-unit pace, the highest level since March 2008. Single-family permits rose 4.5 percent to their highest level since January 2008. Full Story… http://www.cnbc.com/id/102352190
* Fannie Mae’s economists expect the economy to strengthen in 2015 and that will “drag” housing into a better cycle this year. The company’s forecast for the year includes a moderate acceleration of economic growth, “driven by strengthening private domestic demand, especially consumer spending, amid continued low gasoline prices, firming labor market conditions, rising household net worth through both financial and housing wealth, improving consumer and business confidence, and reduced fiscal headwinds.” The collapse in oil prices was one of the big surprises of 2014. Along with the strengthening of the dollar to decades-high levels and the softening of other commodity prices, disinflationary pressures seem to have contributed to the bond rally and the resulting drop in interest rates. Full Story… http://www.mortgagenewsdaily.com/01222015_fannie_mae_forecast.asp
* Seattle home receives Remodel of the Year honors in National Design Competition. The Book House in Seattle has been selected as the Remodel of the Year in the 2014 Best in American Living Awards (BALA) by the National Association of Home Builders. In its 31st year, BALA recognizes outstanding achievement by builders and design professionals in all sectors of the residential industry including single-family production, custom, rental, affordable, interiors, remodeling, community and international. Full Story… http://www.nahb.org/news_details.aspx?newsID=17085
Have a productive week!
Check out our latest 60-second Housing Report video updates on real estate activity and price trends in your area or an area you have your eye on. These brief videos take the most recent MLS data and create simple graphics to illustrate market activity with commentary on what the data suggests. It’s valuable information for homeowners and anyone thinking of buying or selling in our NW Oregon and SW Washington market areas.
Click here to see what’s happening in your area.
Our real estate professionals have the answers to any questions you may have about the market. Click here to connect with one of our trusted brokers.
We couldn’t be more pleased to announce our merger with our Berkshire Hathaway HomeServices sister-company to the north!
Portland’s CEO, Jason Waugh, has assumed the role of president and CEO of the combined companies, and Mike Gain, CEO of the Seattle group, has been named Chairman Emeritus. He will play an integral role in our company’s focus on acquisition and expansion strategies and opportunities in the Pacific Northwest.
The merger brings us to over 725 real estate professionals serving residential and commercial clients in the Seattle and Portland metropolitan areas, as well as Central Oregon, the Yamhill County wine region and Oregon’s coastal communities.
“This merger creates a regional powerhouse within the Pacific Northwest,” says Waugh. “We are combining two organization, each with immensely talented agents, sales managers and employees and a shared commitment to delivering an exceptional real estate experience into a company that will be unmatched in our ability to serve the real estate needs of new and existing clients.”
If you are interested in joining our company, click here to learn how we help our brokers build careers with a foundation of exceptional service. Email email@example.com for a confidential meeting or to learn more.
PORTLAND EVENTS WEEKEND PLANNER
FOR JANUARY 23-25, 2015
WIZARD WORLD, PORTLAND COMIC CON
FRI-SUN JAN 23-25 Celebrate the best in pop culture: movies, comics, video gaming, television, original art, collectibles, contests and more. Oregon Convention Center
CHOCOLATE FEST 2015
FRI-SUN JAN 23-25 This event brings in chocolate vendors and lovers from around the country. Ages 21 and older for Friday night’s premiere 4-9 p.m. Oregon Convention Center
INTERNATIONAL CAT SHOW
FRI-SUN JAN 23-25 This annual show and canned food drive for the Oregon Food Bank welcomes hundreds of purebred cats. Holiday Inn at the Airport
ANNE FRANK: A HISTORY FOR TODAY
FRI-SUN JAN 23-25 (ends April 14) Documents the Holocaust through the perspective of Anne Frank. Oregon Jewish Museum
OREGON SYMPHONY FEATURING SARAH KWAK
SAT JAN 24 & MON JAN 26 Paul Ghun Kim conducts a program of Messiaen, Mozart, Tchaikovsky and others featuring Kwak. Sat @ 7:30PM, Mon @ 8PM. Arlene Schnitzer Concert Hall
GUIDED NATURE HIKES
FRI-SUN JAN 23-25 (every day, various times & locations) Park guides lead nature hikes to explore the forest, stream ecosystems and natural history of the natural area. Tryon Creek State Park & more
MASTERWORKS PORTLAND: EL GRECO
FRI-SUN JAN 23-25 (through April 5) The Masterworks Portland series commemorates the fourth centenary of the death of El Greco (1541-1614). Portland Art Museum
WINE TASTING: WINES FROM EVERYWHERE
SAT JAN 24 @ Noon, Liner & Elsen Wines 2222 NW Quimby St.
JAN 24 @ 11AM Brewvana leads weekly and special van tours visiting Portland-area breweries, plus walking tours. www.experiencebrewvana.com
NEW MOVIES OUT THIS WEEK
- The Boy Next Door
- Black Sea
- Strange Magic
- Red Army
- The Duke of Burgundy
To infuse a blast of fresh energy into your home, twenty top design professionals gave their opinion on what’s trending in 2015; let’s take a peek at the results.
1) Mixed Metals
In London, designer Kelly Hoppen says mixing warm metals, such as copper and rose gold, with cool ones like silver is particularly hot right now. Los Angeles designer Jamie Bush agreed, saying he is no longer interested in matching every metal finish in a single room: “It’s too staged.” New York designer Thom Filicia suggested a “strategic, layered mix” of silvery, gold and black metals as a “riskier and more stylish” option. A great example: Arteriors’s Nolan Pendant, a brass-finished iron light with a dark bronze band.
2) Moody Indigo
Several designers are developing a case of the navy blues. Paris-based Stephanie Coutas said dark navy, as a counterpoint to white marble and mother of pearl, is a growing trend in luxury projects in the City of Light. Los Angeles designer Sasha Emerson hailed the color’s versatility: “It plays so well with other colors, such as pink, cream, gray, coral and sage.” Architect Barbara Bestor ’s tried-and-true: Benjamin Moore’s Old Navy mixed with a little black.
3) Painterly Rugs
Whether it looks like a Motherwell or a Monet, a rug “that is visually fluid with irregular patterns breaks the grid of rectangular rooms and furniture,” said Mr. Bush. (See examples from Marc Phillips’s collection here.) “They are true art pieces,” said Sydney designer Thomas Hamel, especially those rendered in silk “that shimmer and constantly change color.”
4) Smoky Glass
“Clear is so last year,” quipped Mr. May. Instead, Los Angeles designer Kelly Wearstler opts for smoked glass to “strike a tension between raw and refined, masculine and feminine.” That smokiness “adds a sense of mystery and intrigue to an otherwise typical material,” she said. For Mr. Harris, the effect, as seen in Sebastian Scherer’s Isom tables for Neo/Craft, “exudes a sultry 1970s vibe that reminds me of an intimate club that serves really good Manhattans.”
5) Graphic Tiles
Thanks to the allure of indoor/outdoor living, colorful concrete tiles (such as these from Amethyst Artisan shown here) continue to move from commercial to home spaces, said Los Angeles designer David John Dick : “It’s a perfect combination of graphic design and interior design.” Sam Allen, a Connecticut designer, views them as a sneaky image-booster. “These unusual ethnic tiles give the appearance that you are well-traveled,” he said.
We are proud to welcome these experienced real estate professionals to Berkshire Hathaway HomeServices Northwest Real Estate!
Terri Crotteau – Bend
Fred Byeman – Newberg
Dan Slevin – Commercial Division
Are you interested in a real estate career with the 2014 Real Estate Agency Brand of the Year? To learn how we help our brokers build lasting careers on a foundation of exceptional service and representation, please click here. Email firstname.lastname@example.org for a confidential meeting or to learn more.
We had quite a day last Saturday when Santa paid a pre-Christmas visit to the Berkshire Hathaway HomeServices Northwest Real Estate Newberg branch. Over 40 families and their kiddos had a fun time with Santa and they brought a generous assortment of food for donation to local residents in need of assistance. They collected two 40-gallon barrels of food!
Big thanks to Newberg Managing Principal Broker Ron Schock, photographer Kenneth Bunn, and all the Newberg brokers and local businesses that pitched in to create this fun, community-focused event. Most of all, thank you Santa for making the long trip down from the North Pole!
It’s days like this that make our hearts joyful. Wishing everyone a happy holiday season!
Several brokers have recently joined the Berkshire Hathaway HomeServices Northwest Real Estate team. We’re pleased to welcome these real estate professionals to the family:
Lauren Musco – Lake Oswego
Doral Vance – Netarts / Garibaldi
Dan Masterson – McMinnville
Betsy Shand – West Portland
Karen Langlois – Clark County NW
Jim Schoning – Bend
Robert Kish – Lake Oswego
Michael Green – Lake Oswego
Are you interested in a career as a real estate professional? To see how we help our brokers build successful careers based on exceptional client service, please click here. Email email@example.com for a confidential meeting or to learn more.
We are proud to announce the addition of the following brokers to the Berkshire Hathaway HomeServices Northwest Real Estate team:
Katella Bahr – Sunriver
Gary Marugg – Newberg
Katie Russ – McMinnville
David Walsh – Newberg
Christine Coulter – Sunriver
Maritza Mendez – Clackamas
Are you interested in building a long term career as a real estate professional? Click here to see how we help our brokers build successful careers based on service excellence and integrity. Email firstname.lastname@example.org to learn more.