Rising home prices make case to put away the umbrellas

Anyone who owned a mortgage this summer started to see some relief in the value of their home. July of this year marked the sixth month in a row that home prices rose. In a recent article titled "Home price boost will help boost economy..." by John W. Schoen of NBC News, a Reuters poll confirmed home prices are on the rise.

The poll turned to twenty U.S. cities and found that compared to last year, home prices are up 1.2 percent nationally.

David Blitzer, chairman of the index committee at Standard & Poor's stated "All in all, we are more optimistic about housing. Upbeat trends continue." The housing market has moved from being a damper on the economy to leading the nation out of the recession. Great news for people who own homes!

Improving home prices means a potential uptick in consumer spending, and more incentive for lenders to lend. According to Jim O'Sullivan, chief U.S. Economist at High Frequency Economics there is another positive, "less chance of mortgages turning delinquent."

Home builders have every right to feel more optimistic as well. Housing starts have increased by more than 20% over this past year, and rose 2.3% this last month!

In addition to all the good news, the Federal Reserve recently moved to force mortgage rates to new historic lows. The result could mean more first time home buyers diving into the housing market. The lower mortgage rates could also lead to existing homeowners refinancing to a lower monthly payment, which could help spur along consumer confidence and spending.

The bottom line, the U.S. housing market is slowly seeing improvement through higher prices, lower mortgage rates, and more consumer buying power. Homes that were under water years ago, may start to see some dry land. Time will tell, but it may be a good time to put the umbrellas away.

For further information on the home buying or selling process, contact Todd Adams at

503-332-5227 or visit Home Search

Portland, America's Greenest City

As the United States pushes to be more "green." Portland, Oregon has been named the greenest city by Travel + Leisure as reported by NBCNEWS.com.

Steve Terrill / Corbis           

 

For those of us that are fortunate to live in the Portland area, the acknowledgement that Portland is America's greenest city should come as little surprise. Northwesterners pride themselves on being environmentally aware and responsible.

As NBCNEWS.com pointed out "every day feels like Earth Day" in Portland. The city features over 288 parks with treasures like Forest Park, the Rose Garden, Waterfront Park, and stretching across the Willamette River  to the Nationally recognized Grotto on the East side. Portland is one of the few cities nationally that enjoys a tree canopy over one forth of the city's footprint.

One of the key factors in Portland's green success is the transit system second only to San Francisco; Buses, light-rail, streetcars, bikes, taxis, boats, and a tram with spectacular views of the city! With all these parks to see and explore, visitors will be pleased to discover that Portland has invested public resources into light-rail (MAX) that is easy to use for a nominal fee.

If you have been to Portland or another "green" city in the U.S. we would love to hear what you liked or found unique.

For further information on the home buying or selling process, contact Todd Adams at 503-332-5227 or visit Home Search

Are Mortgage Rates on the Rise?

In my business, everyone wants to know where the rates are? The bigger story that packs more punch, is where are the mortgage rates going? Experts will point to charts that show rates up or down. To the average citizen my best advice is to look back to get an idea of where the rates might be headed.

In the month of August, rates rose for three weeks straight. In a report published by the latimes, reported by E. Scott Reckard on August 16th, 2012, Freddie Mac found that "the typical 30-year rate increased from 3.59% to 3.62%."

In September, a 30 year fixed rate is now around 3.75%. The rates have been at historic lows for some time and the chart below shows this to be true.

What does all this mean to people who own a loan or to people who want to buy a house? According to E. Scott Reckard "Rising rates could throttle the latest in a long series of refinancing booms" and will result in less purchasing power for those who wait to buy a house.

The bottom line - mortgage rates are on the rise. The rates remain low historically, which is reinforcing the fact that it is a good time to buy a house! If you have done your homework and are prepared to make a home purchase, you can be one of the fortunate buyers to take advantage of the low mortgage rates.

For further information on the home buying or selling process, contact Todd Adams at 503-332-5227 or visit Home Search

Healthy, Quick, Meals, For A Family on the Move

 

We are a society that is on the move in our daily lives. It is common to up-size our homes, down-size our homes, or move closer to the kids schools. We are on the move! 
 

As a Real Estate Broker in Portland, I have been asked more than a few times - what are some good quick meals for a family that is fully engulfed in the moving process? You won't find the five healthy recipes below on the "Cooking Channel," but you will find that they meet the requirements of quick and easy.
 

Taco Salad (The Mexican) 

Toss the following ingredients in a large bowl:

  Romaine lettuce

  Cheddar or Mexican cheese, shredded

  Tortilla chips, crushed

  Black beans, canned, drained

  Lighthouse Jalapeno Ranch dressing

  Avocado, chopped

Tomatoes, chopped

Olives, chopped

 

If desired:

·Top with your favorite salsa

·Add taco-seasoned ground beef or turkey

·Layer over warm re-fried beans

 

Tuna Melt Wrap (The Tastefully Simple) 
 

1 can white albacore tuna
2 tablespoons honey mustard
2 tablespoons fat free vanilla yogurt
2 leafs of romaine lettuce
Handful of thinly chopped celery
Pepper to taste 

Directions: Spread the cheese over the tortilla, and heat in the microwave for

30seconds. Spread romaine on tortilla. Mix remaining ingredients, top on tortilla,

And fold.

   

Sloppy Joe's (The Super Simple) 

 

Ground beef or turkey

Spaghetti sauce

Whole wheat bread/buns

 

 

Royal Rueben (The Royal) 

Make coleslaw (combine shredded cabbage/carrot mix and fat-free mayo)

Place slaw on whole-grain bread

Top with lean roast beef and reduced-fat Swiss cheese

 

Pizza (The Greek)

Courtesy of Health Magazine


 

  2 teaspoons olive oil

  1 (6-ounce) bag pre-washed baby spinach

  1 (10-ounce) Italian cheese-flavored thin pizza crust (such as Boboli)

  3/4 cup tomato sauce

  1/2 cup crumbled feta cheese

  1/2 teaspoon freshly ground pepper

1 (2 1/4-ounce) can sliced ripe black olives, drained

Directions:

Preheat oven to 425°. Heat oil in a large nonstick skillet over medium-high heat. Add spinach; sauté 3 minutes or until lightly wilted. Place pizza crust on a baking sheet. Spread sauce over pizza crust, leaving a 1/2-inch border; top with baby spinach, feta cheese, pepper, and olives. Bake at 425° for 15 minutes or until thoroughly heated.
 

Moving can be stressful and a lot of hard work. My hope is that your family loves your new home and finds these recipes to not only fast and healthy, but delicious. 

 

For further information on the home buying or selling process, contact Todd Adams at 503-332-5227 or visit Home Search

 

Nationally, Home Prices Are Up

Yes, summer has come and gone. As we head into fall, we are continuing to enjoy nice weather and sunny skies. Like the weather, the national housing market is experiencing its fifth straight month  in a row of gains.



A recent Reuters article (September 4th, 2012) noted that home prices in June "rose more than expected". In fact, in the  survey of 20 cities taken nationally, there was a 0.5% increase over 2011 prices.





David Blitzer, the chairman of the index committee at Standard & Poor's, went so far as to say "We seem to be witnessing exactly what we needed for a sustained recovery; monthly increases coupled with improving annual rates of change."

Traditionally, the summer buying season is strong. The June numbers benefitted from this phenonina. Blitzer went on to say that "the gains on both a monthly and yearly basis boded well for the housing market."

The financial markets reaction to the data has been cautious as investors turn their attention to Federal Reserve Chairman Ben Bernanke to see what, if any, action he plans to take.

The bottom line: The housing market continues to rebound from one of the worst economic downturns in our nations history. The pace of the housing recovery is slow, but steady. Minus any unforseen national or international event, we should see continued improvement.

For further information on the home buying process or selling process, contact Todd Adams at 503-332-5227 or visit Home Search

The Importance of Saying No

No is one of the shortest words, yet one of the toughest to say. While no one has found a way to buy time, we can take more measured steps to protect our time and live out happier lives.

In an article published in Better Homes and Gardens in April, 2012 by Karen Haywood Queen, four steps are suggested that could lead you across the pond of endless obligations to the hammock of personal bliss.

Are you the person who everyone thinks to call when volunteer work is needed? You know, the person who ends up organizing the reunion instead of enjoying it. It might be time to learn how to say "no" and mean it without alienating yourself. It's OK to say no and feel good doing it.

Decline Delicately - a great place to start you on your path to freedom. Example: if you are asked to head up a big-time fund-raiser, Karen suggests saying something like, "Wow, I'm honored that you thought of me for this important event, but my schedule is so hectic right now that I couldn't give it the attention that it deserves." It's not a hard hit, but more of a soft landing - no feelings hurt.

Be Honest But Vague - The less said the better. No need to feel guilty by lying, people can tell when someone is not being truthful. "Simply say you are booked and leave it at that," says Karen.

Negotiate Terms - "Many people agree to requests without knowing the logistics, which can be a trap," says psychologist Susan Newman, Ph.D., author of The Book of No (McGraw-Hill). The next time you are asked to volunteer, ask more questions. Are you expected to take everyone's jacket before the event or are you preparing all the food for the event? You will get a clear understanding of the expected time commitment and whether or not you want to make the time.

Put You On Your Schedule - Use the calendar on your iPad or smart phone to schedule your personal time for working out, enjoying coffee with a friend, or to read that book that you've been wanting to read. "Saying yes to someone can mean saying no to something you'd rather do, says Nancy Austin, coauthor of The Assertive Woman (Impact Publishers).

Remember, it is your time to schedule. If you don't schedule your personal time, everyone else will schedule it for you. Here's to taking back your time and happiness in 2012, it's not too late!


For further information on the home buying process or selling process, contact Todd Adams at 503-332-5227 or visit Home Search

Here's What A Hefty Price Tag Buys These Days!

Photo courtesy of Trulia.com

Actor Ben Stiller and his wife have just listed their Manhattan duplex for a cool $9.6M a $400K reduction in what they paid for the property back in 2008. (Even the rich and famous have been impacted by the housing market.)

Ben, in the past, has admitted to having a lot of nervous energy and says that " Work is my best way of channelling that into something productive unless I want to wind up assaulting the postman or gardener."

The home has a chef's kitchen, theater room, maid's quarters, and incredible river views! Ka-ching!!! If you would like to help a NYC postman or gardener than check out the link below and consider investing in some NYC real estate. If you want beautiful scenery matched by incredible views than maybe you should look at Portland, Oregon...


For additional pictures and property detail click here

For further information on the home buying process or selling process, contact Todd Adams at 503-332-5227 or visit Home Search
 

Tips For Selling Your Property Faster

When I meet with my clients to sell their home, I am frequently asked "how can we sell it fast?" In a recent publication of HGTV Magazine (Click here to subscribe) a fellow real estate pro, Cora Sue Anthony, host of Real Estate Intervention, offered up some tips that I thought I would share.

• Buy The Best Bedding - Nothing dampens the feel of a master bedroom more than a cheap looking bedspread. The idea here is to make the master bedroom "feel like a five-star hotel."
• Spray Down Your Yard - Before you host your open house, grab a hose and give your yard that "dewy look." Grab their attention before they walk in the door or they just might keep walking!
• Give Light Fixtures A Thorough Cleaning - No one wants to see cobwebs or dead bugs. A clean house appeals to everyone.
• Hang Mirrors - Mirrors reflect light and help small spaces seem larger. Buyers will actually see themselves in your house, "subliminal staging at its best."
• Get Your Windows Professionally Cleaned - Clean windows help the house look light and bright!

None of these tips alone will help you sell quickly. However, if you combine these tips with smart staging, your house will sell faster. The key to selling your home fast is to make it look like the cleanest,  most well organized house on the block every day it is on the market. Selling your home is not easy, but is can be done quickly if you take the right steps.

For further information on the home buying process or selling process, contact Todd Adams at 503-332-5227 or visit Home Search

U.S. Employment Grows Three Months in a Row Adding To the Economy's Overall Strength

Good news on the nation’s employment numbers! MSNBC.com and wire reports (Click here for the full article) are reporting that February marked the third straight month that the U.S. employment rate grew. Payrolls have grown by more than 200,000 for the last three months. The Labor Department reported Friday that employers added 227,000 jobs last month, while the unemployment rate had no change at 8.3%. 

What does this mean for the economy as a whole and the housing market? Top economists are saying that the U.S. outlook is improving and they are predicting that the jobless rate could fall below 8% by November of this year. In my opinion the best news is that the growth in February came 100% from the private sector. The private sector is usually the first to go into a recession and it would make sense that they are the first out.

The bottom line is that the U.S. economy appears to be slowly climbing out of one of the deepest recessions in our nation’s history. The result of improving employment numbers coupled with banks slowly easing up on lending, means a stronger housing market.

For further information on the home buying process or selling process, contact Todd Adams at 503-332-5227 or visit Home Search

Housing Crisis to End in 2012?

I am asked this question all the time by clients and my colleagues, when will the housing crisis end?! Krista Franks of DSNEWS.com back on 01/24/2012 (For complete article click here) pointed in her article to the findings of the analytics firm, Capital Economics, who directed their attention to these three indicators: loosening credit, stabilization of mortgage lending standards, and the loosening of loan-to-value ratios by banks.

 

Yes, the loosening of credit by the banking industry will help the housing industry. Yes, the stabilization of mortgage lending standards is a good sign. Yes, the loosening of loan-to-value ratios will help make it easier for buyers to qualify for loans.

The banking industry is giving the longest green light we have seen in recent years. Buyers, who have been getting their ducks in a row, will find that it is paying off with banks that are more likely to give credit approvals. The housing market in 2012 is looking up!

For further information on the home buying process or selling process, contact Todd Adams at 503-332-5227 or visit Home Search

 

Real Estate Can Be Funny, When Your Talking About Other People's Homes

The great people of the Pacific Northwest, sometimes need a laugh or two. Check out this real estate segment on the Ellen Degeneres Show:



Now that you have had a few laughs and have seen properties that are not worth you time, contact Todd Adams at 503-332-5227. I will explain the steps involved in the purchase process, listen to your needs, and help you reach your goal of owning a home.    

Click here to search for properties

 

For further information on the home buying process or selling process, contact Todd Adams at 503-332-5227 or visit Home Search

Is now the time to buy a house?

I am constantly being asked by clients, is this a good time to buy a house? Industry experts believe it is an exellent time to invest in real estate.

In a recent "Market Insights" article called "Housing: A time to buy," Dr. David Kelly and David Lebovitz list four "Measures of Value":

1. Home prices relative to average household income. The ratio has reached an all time low of just 153%. The normal is 180% of household income. Great news for home buyers, your income will buy more house today.
2. Low interest rates. The active intervention of the Federal Reserve has brought mortgage rates to their lowest level in modern history. Lower interest rates mean more buying power or more house for your money.
3. The cost of renting versus the cost of owning. In 2007, the median mortgage payment was close to 150% of the median asking rent. Now the median mortgage payment is just 78% of the median asking rent. This means that it is significantly less expensive to own a home than to rent. In some metropolitan areas, we have seen rents increase by as much as 30%.
4. Home pricing relative to the cost of construction. Home prices have fallen so much that we will need to see an uptick before builders will be incentivised to increase construction of new homes. To buyers, this is a sign that now is the time to take advantage of low prices.

The conclusion of Dr. David Kelly and David Lebovitz is: "Today, when home ownership is depreciated more than ever before, the numbers tell us it is time to buy." To review the findings in their entirety, click here.

Bottom line: Now is the time to buy a house!

 

For further information on the home buying process or selling process, contact Todd Adams at 503-332-5227 or visit Home Search

How To Boost Your Home's Value

In this real estate market, who isn't interested in boosting the value of their home? The key question is, how do you boost the value of your home most efficiently?

Here are the top 10 "cheap fixes" as reported by Teri Cettina of Bankrate.com (Boost Your Homes Value) 

Involving the family is a great way to make projects fun

1. Make your kitchen really cook
2. Give appliances a facelift
3. Buff up the bath
4. Step up your storage
5. Add a room in a week or less
6. Mind the mechanics
7. Look underfoot
8. Let there be light
9. Reframe your entry
10. Consider curb appeal

The three stand outs on the list, in my opinion, are:

• The kitchen. It's the heart of the home and not a surprise that it made the list at number one. What is a surprise to me is how many homes I have shown to clients that have no knobs on the cabinets! Knobs on kitchen cabinets can make a huge difference in the look and feel of a kitchen and it is a project that would not break the bank.

• Reframing the entry. It seems obvious, but many home owners can dramatically improve the first impressions of potential buyer's by changing up the hardware on the front door.

• Consider curb appeal. Yes, it is obvious. However, the number one reason people contact a real estate broker out of the blue, is that they drove by a home and liked what they saw on the outside. If your home is listed and not selling and you are getting very few showings, it may be time to look at sprucing up the curb appeal of your home - A good investment, even if you are not selling.

Tip: If you have holes in your drywall, check out this video on how to quickly fix the holes.

It's a new year, projects abound! Whether you are a DIY or involving the entire family, you can make a difference and limit the cost. Here's to a successful 2012!

For further information on the home buying process or selling process, contact Todd Adams at 503-332-5227 or visit Home Search

30 Year Fixed Mortgage Rate Hits An All-Time Low

In the news this week, 30-year fixed mortgages dipped to a current rate of 3.73 percent on Zillow Mortgage Marketplace.




Zillow's Camille Salama reports that this drop "represents the lowest rate reported since Zillow Mortgage Marketplace launched in 2008."


If you are a home owner or looking to be a home owner and you want to go BOLD, take a look at the 15-year fixed mortgage rate - it reached a low of 3.07 this week.

What this means to first time home buyer's is that they can now get more house for the money.

For an up-to-the-minute rate, click here Zillow's Mortgage Marketplace

 

For further information on the home buying process or selling process, contact Todd Adams at 503-332-5227 or visit Home Search