This Week in Real Estate: June 12, 2017

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Homeowners realized the largest increase in equity growth in the first quarter since mid-2014, as reported by CoreLogic This Week in Real Estate, with Washington state homeowners experiencing the largest year-over-year increase. Below are a few highlights from the first week of June that influence our business:

* Homeowner Equity Soars in First Quarter. Homeowner equity increased significantly in the first quarter of 2017, according to the Q1 2017 home equity analysis from CoreLogic. Homeowners with a mortgage, about 63% of all homeowners, saw their equity increase by 11.2% a total of $766.4 billion since the first quarter last year. The average homeowner gained about $13,400 in equity over the last year. The total number of mortgaged residential properties with negative equity decreased 3% from the fourth quarter to 3.1 million homes, or 6.1% of all mortgaged properties. This is a drop of 24% from 4.1 million homes in the first quarter of last year. “Homeowner equity increased by over $750 billion during the last year, the largest increase since mid-2014,” CoreLogic President and CEO Frank Martell said. “The rising cushion of home equity is one of the main drivers of improved mortgage performance. It also supports consumer balance sheets, spending and the broader economy.” Texas had the highest percentage of homes with positive equity at 98.4 percent, followed by Utah (98.2%), Washington (98.2%), Hawaii (98.1%) and Colorado (98%). Washington had the highest year-over-year homeowner equity increase at $37,900.
Full Story…  http://www.corelogic.com/about-us/news/corelogic-reports-nearly-9-million-borrowers-have-regained-equity-since-the-height-of-the-crisis-in-2011.aspx
https://www.housingwire.com/ext/resources/images/editorial/Kelsey-Ramirez/Folder-1/Screen-Shot-2017-06-08-at-101302-AM.pn

* U.S. Job Creation Index Returns to Record High. Gallup’s Job Creation Index was +37 in May, tied with the record high found in March. This marks 15 straight months of the index reaching +30 or higher. The index has generally been moving upward since bottoming out at -5 in April 2009 during the Great Recession. It has been in positive territory since February 2010. The Job Creation Index is a nearly real-time indicator of the nation’s employment picture across all industries and business sectors. This is the first time index scores in all regions have been above +30 since January.  The West has rebounded the most from the Great Recession in terms of the Job Creation Index, rising to +37 after falling to -11 three times in 2009. Gallup’s Job Creation Index is at an all-time high, reflecting an improving job market. These findings generally match the U.S. government’s data on the job market, as evidenced by the Bureau of Labor Statistics’ unemployment rate reaching 4.3% in May and the underemployment rate falling from 8.6% in April to 8.4% in May.
Full Story… http://www.gallup.com/poll/211820/job-creation-index-returns-record-high.aspx?utm_source=tagrss&utm_medium=rss&utm_campaign=syndication

* “Good Time to Sell” Hits Highest Levels in Fannie Mae Survey. The Fannie Mae Home Purchase Sentiment Index (HPSI) decreased fractionally in May, however the change in each of its internal components was decidedly more pronounced. The HPSI, based on six of the questions from Fannie Mae’s monthly National Housing Survey, was 86.2, down 0.5 percent compared to April. Three of its components moved higher and three lost ground. The index is 0.9 percent higher than its May 2016 version. The most striking changes come from answers to the questions regarding whether respondents thought it was a good time to buy and/or a good time to sell. The net share of Americans who said that now is a good time to buy a home reached a record low (27 percent) after falling 8 percentage points, while the net share who stated that it is a good time to sell a home reached a record high of 32 percent, a gain of 6 percentage points. Fannie Mae said it was only the second time in the survey’s history that the net share of those saying it’s a good time to sell surpassed the net share of those saying it’s a good time to buy. The “sell” component is 19 points higher than at the same time in 2016.
Full Story… http://www.mortgagenewsdaily.com/06082017_national_housing_survey.asp

Have a productive week!
Jason


Portland Metro Weekend Events Planner: June 9-11, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
FOR JUNE 9-11, 2017

 

OREGON RENAISSANCE FAIR
SAT-SUN & June 17-18 – An imaginative and interactive adventure modeled after elements from the the Renaissance era, led by the beloved Queen of Scots, Mary Stewart. Patrons can experience village folk celebrating a visit from their Queen and her royal court with the sights, sounds, smells, era-appropriate music, demonstrations, a variety of entertainers, and the arts, crafts, wares, and lifestyles of the Renaissance era in Scotland.

PORTLAND ROSE FESTIVAL GRAND FLORAL PARADE
SATGrand Floral Parade starts at 10AM at Memorial Coliseum and ends in downtown Portland around 2PM.

CITY FAIR
FRI-SUN Rose Festival’s waterfront activities continue for a third weekend at Tom McCall Waterfront Park. Enjoy carnival rides, exhibits, beer, and a food fair.

FLEET WEEK
WED-SUN – The City of Portland is known to be a favorite port of call for military and non-military visitors, and citizens enjoy making these visitors welcome! One of the purposes of Fleet Week has always been to celebrate and thank the active and reserve military personnel and all veterans.

DRAGON BOAT RACES
SAT-SUN – Held on the Willamette River near the Hawthorne Bridge, the Dragon Boat Races feature exciting four-team heats held every nine minutes. More than 80 different teams–local, national and international–compete in boats graciously provided through the Portland-Kaohsiung Sister City Association.

SCANDINAVIAN MIDSUMMER FESTIVAL
SAT – In the Northern lands of the midnight sun, it is traditional to warm up after a long cold winter by celebrating Midsummer with friends, food, and drinks. Decorate the Maypole, put some hot dogs on the grill, play games on the lawn, gather with your favorite people around a bonfire, and enjoy the longest day of the year.

PORTLAND BEER WEEK
Through June 18 – An 11-day celebration of beer in the greatest beer city on earth. Enjoy this city-wide, multi-venue, multi-medium, artistic and culinary inspired journey exploring the many facets of beer.

PORTLAND FRUIT BEER FESTIVAL
FRI-SUN – An all-ages friendly event with a wide representation of more than two dozen fruit beers and fruited hard ciders, plus non alcoholic drinks and incredible food vendors, DJ’s and other activities.

CRUISIN’ SHERWOOD
SAT – Small-town America meets American’s passion for all things automotive. You’ll find something for everyone, over 500 classic and custom cars, a kid’s zone, entertainment & much more.

THE 420 GAMES
SAT – A great event for all who want to exercise, listen to some beats, and partake in one of the fastest-growing industries in the world!

BERRIES, BREWS & BBQ’s
Weekends through June 18 – Enjoy live entertainment each week from a variety of local bands and artists. Sip on an awesome selection of local brews and ciders while tasting some incredible BBQ, cooked over an open fire pit by our own farm cooks. U-pick strawberries, tractor rides, giant slide and more!

THE HOBBIT
Through SAT Metropolitan Performing Arts Academy (MPAA) is proud to present Patricia Gray’s stage adaptation of J.R.R. Tolkien’s timeless tale of magic, treasure, and dragons.

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 SUN – 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 SUN – An all-female, all-star Portland cast leads this production of Oscar Wilde’s magnificent 19th Century comedy of manners and social status.

80’S VIDEO DANCE ATTACK
Through FRI – 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.

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

CRAFT BEER & WINE FESTIVAL
FRI-SUN – Showcasing the best tastes, crafts and talent in our region. Along with 120 wines to taste, 50+ craft brews, craft cocktails and WA craft bourbon tastings, we have great food, live music, and handmade goods.

NATIONAL GET OUTDOORS DAY AT FORT VANCOUVER
SAT – Experience free outdoor activities and family fun! Kids and families can enjoy climbing a rock wall, learning how to shoot a bow and arrow, catching a fish from a pond and playing lacrosse, bicycling, and disc golf. Smokey Bear, Woodsy Owl, Jr. Beaver and their friends will be on hand to greet visitors. A historic fur trader encampment will re-enact life at Fort Vancouver during the 1840s.

BIG BAND BASH
SATThe Clark College Music Department presents extraordinary concerts and programs throughout the year for the college community and the greater community.

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
The Mummy
• My Cousin Rachel
• It Come at Night
• I Love You Both
• Awakening the Zodiac
• Camera Obscura
• Megan Leavey
• The Hero

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: June 5, 2017

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The S&P CoreLogic Case-Shiller National Index reported This Week in Real Estate that housing prices in March rose at the strongest pace in nearly three years, and the top 2 cities in the country were Seattle and Portland, respectively. Below are a few highlights from the last week of May that influence our business:

* Single Family Sector is Rare Winner in Construction Spending Report. The total amount of construction put in place nationally fell in April, but continues at a pace higher than at the same point in 2016. The U.S. Census Bureau puts the seasonally adjusted annual rate of spending on all types of construction during the month at $1.22 trillion, a decrease of 1.4 percent from the March total, but up 6.7 percent from April of last year. Total spending on residential construction was down 0.9 percent from March, but was 15.6 percent higher than a year earlier. Residential spending in the private sector was at a seasonally adjusted annual rate of $516.65 billion in April, an 0.7 percent dip from $520.36 billion in March, but 16.0 percent higher than the April 2016 pace. Spending on new single family construction managed to be one of the few gainers for the month, eking out an 0.8 percent month-over-month gain to a rate of $262.14 billion. This made the spending rate 7.7 percent higher than a year earlier.
Full Story…  http://www.mortgagenewsdaily.com/06012017_construction_spending.asp

* May Employment Numbers Show “Rip-Roaring” Job Growth. ADP and Moody’s Analytics released the National Employment Report showing a huge surge in employment numbers for May. Private-sector employment increased by a seasonally adjusted 253,000 from April to May. “May proved to be a very strong month for job growth,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Professional and business services had the strongest monthly increase since 2014.” “The current pace of job growth is nearly three times the rate necessary to absorb growth in the labor force. Increasingly, businesses’ No.1 challenge will be a shortage of labor,” Moody’s Analytics Chief Economist Mark Zandi said.
Full Story… https://www.housingwire.com/articles/40306-may-employment-numbers-show-rip-roaring-job-growth

* Case-Shiller: No Telling When Prices, Rates Will Force Housing Slowdown. Home prices across the nine U.S. census divisions hit a 33-month high in March. The S&P CoreLogic Case-Shiller U.S. National Home Price Index rose 5.8 percent from its level in March 2016, a 0.1 percentage point more than the annual increase it posted in February. Seattle, Portland and Dallas reported the highest year-over-year gains among the 20-City Composite. “Home prices continue rising with the S&P CoreLogic Case-Shiller National Index up 5.8 percent in the year ended March, the fastest pace in almost three years,” David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices said. As of March, the National Index is 1.3 percent higher than the pre-crash peak it reached in July 2006, having bounced back by 39.5 percent from its low point in February 2012.
Full Story… http://www.mortgagenewsdaily.com/05302017_case_shiller_indices.asp

Have a productive week!
Jason


Portland Metro Weekend Events Planner: June 2-4, 2017

PORTLAND METRO WEEKEND EVENTS PLANNER
FOR JUNE 2-4, 2017

 

BERRIES, BREWS & BBQ’s
Weekends through June 18 – Enjoy live entertainment each week from a variety of local bands and artists. Sip on an awesome selection of local brews and ciders while tasting some incredible BBQ, cooked over an open fire pit by our own farm cooks. U-pick strawberries, tractor rides, giant slide and more!

CITY FAIR
FRI-SUN & June 9-11 Rose Festival’s waterfront activities continue for a second weekend at Tom McCall Waterfront Park. Enjoy carnival rides, exhibits, beer, and a food fair.

STARLIGHT PARADE
SAT – From traditional marching bands and flood-lit floats, to glow-in-the-dark umbrellas and unique hand-built entries, you’ll see the best of Portland’s diverse community groups together in one whimsical pageant.

MODERN HOME TOURS
SAT – This is your chance to tour the properties, meet the architects, and talk to the homeowners of some of Portland’s most forward-looking home designs!

PORTLAND BUDDHIST FESTIVAL
SAT – The 14th Annual Buddhist Festival in the Park expresses gratitude and honors the immigrants who brought Buddhist practices and teachings to American society. Vendors, workshops, children’s events and much more.

FAIRE IN THE GROVE
SAT-SUN – Step back in time at the Faire In The Grove! Medieval reenactors, armored fighters, and history buffs invite you to experience the Middle Ages and Renaissance! Hosted on the vast front lawn of the Grand Lodge, come and be transported back to Fairegrove, a medieval village. Enjoy seeing and learning some of the history behind life in the middle ages and beyond into the Renaissance.

YOUTH RODEO
SAT-SUN – Cowboys and cowgirls, some as young as two or three years old, compete in nearly a dozen events divided into three divisions. Contestants test their skills in barrel racing, goat tying, pole bending, break away roping, bareback and saddle bronc riding, calf riding, tie-down roping, and team roping.

THE HOBBIT
FRI through June 10Metropolitan Performing Arts Academy (MPAA) is proud to present Patricia Gray’s stage adaptation of J.R.R. Tolkien’s timeless tale of magic, treasure, and dragons.

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.

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.

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

DOWNTOWN PEDALS
FRI – Vancouver’s Downtown Association invites you to register for the cutest shortest and coolest bike parade in history! Kids of all ages are free to register.

RACE FOR THE KIDS
SAT – Come and join the fun at the 4th Annual Race for the Kids. This family charity event benefits the Teach One to Lead One program that helps kids discover their purpose and potential through community mentoring.

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
· Wonder Woman
· Captain Underpants
· The Exception
· The Death of Louis XIV
· Churchill
· Love, Kennedy
· The Recall
· Aaron’s Blood

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 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


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