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