Portland Real Estate Market Snapshot

Portland Market Snapshot	Today	1 Month Ago		1 Year Ago
Total Inventory	1,578	1,789	12%	1,748	10%
Median List Price	$339,000	$324,000	5%	$310,000	9%
% Distressed Movoto defines distressed properties as any property that has an agent note in the MLS that defines the property as “Bank Owned”, “In Foreclosure”, “Short Sale” (where the owner is trying to sell at a price below the mortgage balance to avoid foreclosure) or “REO” (a term used to indicate the property is bank owned).	2%	2%		2%
Median Days On Movoto	71	70	1%	81	12%
Median House Size	2,005	1,988	1%	1,966	2%
Median $/Sqft	$184/sqft	$180/sqft	2%	$173/sqft	6%

http://www.movoto.com/portland-or/market-trends

Vitrual Currency to Purchase a House

The bitcoin logo (Photo credit: Wikipedia)

It’s finally arrived. The ability to purchase a home with virtual currency. I couldn’t believe that someone in Southampton, NY is actually testing this in the market. Virtual currency is a computing process or “mining” which is traded through unregulated online internet exchanges. It is not backed by central bank or government. The price of a “Bitcoin” has fluctuated from $13 in January to $1200 in November. In a real estate transaction, the value of the bitcoin would be determined by the currency’s average exchange rate the day of closing.

Bitcoin has been around since 2009 and is gaining creditability as financial commentators and investment managers are commenting on this phenomenon.  With this creditability, regulators are watching to make sure nothing illegal is happening.  Yet, Chinese Central Bank and European Banking Authority are warning financial institutions to not accept bitcoin due to the vulnerability for use in criminal activity. However, Virgin Galatic, Reddit.com, and OKCupid.com all accept bitcoins for purchases.

Since supply is limited and demand is high, bitcoins increase in value. The maximum number of “coins” produced is 21 million. This creates a surge of energy to hoard the available bitcoins. And the fact that it’s not tied to any government generates an allure to investors. Currently, there are 12 million in circulation.

To use bitcoins in real estate means that the value of the virtual currency would meet the price of the home. It can also imply that fewer fees would be charged. And, it would be up to the seller to “redeem” the bitcoins or to hold and hope the value increases.

Whether or not this idea takes hold or becomes mainstream is not the issue. It’s the idea that we have advanced to even considering virtual money exists to purchase tangible items, like a home, that causes confirmation that we no longer need real coin to conduct business.

 

 

2014 Hottest Housing Market Predictions

I wonder how many hours analyst spend during the last quarter of the year to determine what predictions they are confident to reveal what could await us in the new year? I appreciate their diligence as it makes it far easier to stay motivated when your city is in the Top 10 for Hottest Housing Market Predictions.  While that’s all great, there are 4 other bold predictions to be aware of. When there is something I can do for you, please ask. I’m always happy to help!

Source: Zillow

Economic and Housing Activity Returning to Normal

The nationwide housing market is inching closer to “normal” levels and is operating at 85 percent of normal economic and housing activity, according to the the National Association of Home Builders/First American Leading Markets Index.Nearly 16 percent – or 55 out of 350 metro areas – already have returned to or exceeded their last normal levels of housing and economic activity, according to the November index reading.The LMI evaluates 350 metro areas to gauge how close the markets are to approaching or exceeding their previous normal levels of economic and housing activity. The index factors in average permits, home prices, and employment levels for the past 12 months.

“This index shows that most housing markets across the nation are continuing a slow, gradual climb back to normal levels,” says NAHB Chairman Rick Judson.

Smaller metros accounted for the majority of markets that are at or above normal levels, says David Crowe, NAHB’s chief economist.

“Smaller markets are leading the way, particularly where energy is the primary economic driver,” Crowe says. “Nearly half of the markets in the top 54 are in the energy states of Texas, Louisiana, North Dakota, Wyoming, and Montana.

The smaller metro areas topping the list on the Leading Market Index were Odessa and Midland, Texas, followed by Casper, Wyo.; Bismarck, N.D.; and Grand Forks, N.D.

More than 125 markets on the November index showed activity levels of at least 90 percent of previous normal levels.

For major metros, Baton Rouge, La., topped the list on the Leading Market Index – 42 percent better than its last normal market level. Other major metros topping the list for exceeding their previous norms were Honolulu, Oklahoma City, Austin, Houston, and Pittsburgh.

Daily Real Estate News |      Friday, December 06, 2013

8 Tips to Selling Your Home During the Holidays

Selling your home during the holidays doesn’t have to be without decorations. These 8 tips show how you can attract buyers during the most joyful time of the year! For questions about your home, call me today.

• Clean and stage. “Before you decorate, your house needs to be staged,” Powers says. If your living room is already piled high with clutter and tchotchkes, your ceramic reindeer collection is only going to add to the sense of overcrowding.
• Create a cozy vibe. The less-is-more mantra of home staging may tempt you to forgo holiday cheer this year. But a few subtle touches like a bowl of pinecones, an evergreen wreath, or a pot of cider simmering on the stove can create a warm and festive feeling in your home.
• Complement your palette. Before you start untangling your tinsel, make sure your holiday collection matches your current decor. If your living room is painted a soothing ocean-blue hue, skip the clashing red garland and opt for white snowflakes or a silver glass-ball wreath. If you’ve got an earthy color scheme, accent with rich tones like cranberries, forest greens and gold.
• Accentuate the positive. Too many trimmings may distract buyers, but the right accessories can draw attention to your home’s best features. Dangle mistletoe in an arched doorway, or display your menorah on the ledge of a bay window; just don’t block a beautiful view with stick-on snowflake decals or clutter an elegant fireplace with personalized stockings.
• Go light on lights. Step away from the inflatable snowman, Clark Griswold. One man’s “merry” is another man’s “tacky,” so tone down any garish light displays while your home is on the market. (No, your neighbors didn’t pay us to say that.) Instead, use simple string lighting to play up your home’s architecture or draw attention to the gorgeous fir tree in your front yard.
• Be an equal-opportunity decorator. Leave the life-sized Nativity scene in storage this year, because overtly religious flourishes may be off-putting to some buyers. “You want to keep neutrality throughout, so you can attract any type of buyer,” Powers says. Not sure what qualifies? Powers adds, “No matter what your religion is, you’re not going to feel offended by a nutcracker.”
• Mind the tree. A tall Christmas tree can help you show off your two-story great room, but make sure the wide base won’t overwhelm the floor space. If your living area is on the small side, save space with a skinny tree. Swap the gaudy heirloom ornaments and trim your tree in a cohesive theme such as icicle lights and silver tinsel, for example, or blue and gold glass balls.
• Clear the clutter. A few decorations can stir the holiday spirit, but don’t feel obliged to hang every last ornament. “A lot of people, when they decorate, tend to use all the extra space in their house,” Powers says. “You still want each space to look as spacious as possible.” Limit yourself to a few hints of holiday flair, but stash the rest in the basement for now. If you start to miss your Santa figurines, just remember that with a little luck, you’ll be celebrating next year’s holidays in a new home. And you can decorate that place any way you please.

The Scariest Place in a Home!

The Scariest Place in a Home!.

A New Twist to Pumpkins

It’s the icon of the holiday season…pumpkins.  Remember how you used to pick the biggest one for decorating for Halloween?  Then realized you had to carry it to the check-out, to the car, to the house and then to the porch?  In my house, biggest was synonymous with heaviest.

Here are some fun and unusual ways to decorate this icon throughout the holiday season. That’s why we’ve collected the most creative examples of carved, painted, etched, pierced, glued and electrified pumpkins to raise the bar for your own pumpkin fest.

So whether you’re a novice carver or an expert DIY-er, you’ll find some inspirational ways to jack up your lantern and pump up your pumpkin to make your neighbors scream… or at least say, “Wow!”

1. Decoupage Pumpkin

Photo: pocketfulofdreams.co.uk

2. Porcupine Pumpkin

Photo: marthastewart.com

3. Clock Pumpkin (It really works!)

Photo: builtbykids.com

4. Gold Thumbtack Pumpkin

Photo: madiganmade.com

5. Steampunk Pumpkin

Photo: lostetter.wordpress.com/

6. Ombre Pumpkin

Photo: http://fun.kyti.me/

7. Pumpkin Bowl

Photo: quick-dish.tablespoon.com

8. Dry Ice Pumpkin

Photo: chemistry.about.com

9. Pumpkin Vase

Photo: kojo-designs.com

10. Cheeseburger Pumpkin

Photo: milkteaandpolkadots.blogspot.com/

11. Mini Vampire Pumpkins

Photo: marthastewart.com

12. Instagram Pumpkin

Photo: swelldesigner.blogspot.com/

13. Polyhedral Pumpkins

Photo: mathcraft.wonderhowto.com

14. Embroidered Pumpkins

Photo: greeneyed.com

15. Cannibal Pumpkin

themetapicture.com

16. Crayon-Dripped Pumpkins

Photo: jennymayandswede.blogspot.com

17. Death Star Pumpkin

Photo: fantasypumpkins.com

18. Chalkboard Pumpkin

Photo: zakkalife.blogspot.com

19. Lace Patterned Pumpkin

Photo: marthastewart.com

20. Glitter Pumpkin

Photo: swelldesigner.blogspot.com

21. Cookie Cutter Pumpkins

Photo: southernliving.com

22. Volkswagen Microbus Pumpkin

Photo: thefancy.com

23. “Liberace” Pumpkins

Photo: auntpeaches.com

24. Detailed Design Pumpkin

Photo: http://thebluebrick.ca/

25. Stocking Pumpkins

Photo: http://blog.makezine.com/

26. Pumpkin Diaramas

Photo: ohsolovelyvintage.blogspot.com

Photo: kitcheninferno.blogspot.com

27. Argyle Pumpkins

Photo: http://www.that-is-all.com/

28. Celtic Pumpkins

Photo: picasaweb.google.com/106122037578918150251

29. Pumpkin Teeth

Photo: thecraftsdept.marthastewart.com

30. Gold Leaf Pumpkins

Photo: stripesandsequins.com

31. Epsom Salt Pumpkin

Photo: davisdaybyday.blogspot.com

32. Pumpkin Messages

Photo: http://blog.dofaso.com

33. Color-Block Pumpkins

Photo: happymundane.com

34. Priceless-Work-of-Art Pumpkin

Photo: intricateart.com

35. “Orange” Pumpkins

Photo: momtastic.com

36. Glazed Pumpkins

Photo: centsationalgirl.com

37. Mardi Gras Pumpkin

Photo: swelldesigner.blogspot.com

38. Stem Nose Pumpkin

Photo: fun-gallery.com

39. Pumpkin Votive

Photo: flickr.com/pommes_frites

40. Pumpkin Portraits

Photo: rolandbv.blogspot.com

Photo: fun-gallery.com

Photo: dailybits.com

41. Pumpkin Bird Feeder

Photo: themotherhuddle.com

42. Pumpkin Caterpillar

Photo: bhg.com

43. Chevron Pumpkin

Photo: birchandbird.com

44. Googly-Eyed Pumpkins

Photo: marthastewart.com

45. Polka Dot Pumpkin

Photo: ohmyowls.com

46. Dip-Dyed Pumpkins

Photo: apartmentherapy.com

47. Ribbon-Wrapped Pumpkins

Photo: inspiredwhims.com

48. Pumpkin Carousels

Photo: thespottedfox.com

49. Leaf Print Pumpkin

Photo: bhg.com

50. Pumpkin Cheshire Cat

Photo: flickr.com/charleym143

51. Pumpkin Keg

Photo: celebrations.com

And for the lazy pumpkin decorator…

52. Harry Potter Pumpkin

Photo: thedragonsfairytail.blogspot.com

For more pumpkin-centric DIY, consider:

Pumpkin Carving 101 How To: Preserve Your Jack o’ Lantern 6 Pumpkin Carving Tools to Put the ‘Jack’ in Your Lantern

Bob Villa 52 Unexpected and Amazing Pumpkins

Housing Trends

Ever wonder how housing trends are determined?  What data is used to define a trend?  The analysis uses year-over-year statistics revealing whether or not there are strong gains in median list prices and declines in days on the market.

The report highlights some of the following progress on four main indicators for the housing market:

• List prices: The median list price for homes
• Home sales: Sales of single-family homes, condos, and townhomes
• Inventory levels: How many homes, condos and townhomes on the market
• Days on market: The  median age of the housing inventory

As the housing market is finding its center again its showing signs of greater balance, according to realtor.com’s latest National Housing Trend Report. “Our September data on inventory counts, median list prices, and median time on market has shown another month of steady leveling, but the recovery certainly remains uneven in some pockets,” says Errol Samuelson, president of realtor.com. “Some of the more industrial-based markets clearly continue to struggle, yet others are showing significant price gains over this time last year. While we are pleased to see a continued trend toward a healthy market balance, imminent economic factors could pose a significant threat to these improvements.”

What Your Bathroom Style Says About You

We all have our own style from the cars we drive, the homes we live in and even our preferred taste in bathrooms. The following categories reveal your taste in bathrooms and possibly, life.

Contemporary

You like muted, natural tile with sleek and stunning fixtures. You want comfortable, simple, and sophisticated rooms.  Contemporary design is all about clean lines and decorating that features the selective use of bright bold colors.

Eclectic

If you’re the kind of person who answers, “Can I pick more than one style?” there’s a great chance that you’re a fan of eclectic design. With eclectic design it’s all about creating your own unique look by combining design elements and styles from different time periods and origins. Done right, the various elements will come together to form a seamless, harmonious look. Mix and match bright colors with dark accent pieces to give your bathroom a unique look reflects your personality.

Modern

You enjoy expansive windows, sleek fixtures, and floor-to-ceiling tile, then you want the modern bathroom. Not to be confused with contemporary design, the modern look feature clean lines, natural materials, and the moderate use of color. It references a style that was popular from the 1920s through the 1950s, though most associate it with the mid-century modern aesthetic.

Traditional

You like comfortable, coordinated, warm and inviting, or the look of 18th century England or old Europe. Traditional design evokes this look with a clawfoot bathtub, rich wood cabinets, and a natural color palette.

Transitional

Love contemporary design but want to create a look that’s also warm and inviting? Transitional design is the style that will give you the look you’re after. Built by combining the best of traditional and contemporary design, a transitionally designed bathroom will be relaxed, yet clean and crisp. You can achieve the look in your bathroom by combining traditional design elements such as wainscoting and tile with contemporary fixtures and cabinets.

source:Find Your Style: Bathroom Design

More Than Half of Homeowners Have Fall Projects Planned

Rain days (Photo credit: @Doug88888)

I always think that home improvement projects are done on long weekends (Memorial Day, 4th of July and Labor Day to be exact) and seasons like spring and summer. According to a survey done by Zillow (r) Digs Fall Home Improvement Trends, 52 percent of homeowners plan a home improvement project or addition this fall. Not only are homeowners planning these projects, they also plan to spend just 2 percent less than they do in the summer.

What does this have to do with real estate?

Whenever a homeowner invest in an addition or a remodel, they hope it will increase the value of their home. So the question is, what projects are likely to give the biggest bang for the buck? I compiled a list to share with you according to the Top 35 projects from Remodeling Magazine’s Cost vs Value Report, Pacific Region, Portland, OR Midrange 2013.

The 5 Highest Projects that Recouped their investment:

96% Deck Addition (wood)

95% Entry Door Replacement (Steel)

92.9% Garage Door Replacement

90% Minor Kitchen Remodel

89% Attic Bedroom

If you don’t have an attic to convert, there are other projects that are worthy of considering such as, home office remodel, basement, bathroom and garage addition. These projects yield higher than 50% return on the investment.

With the weather turning cold and rainy quickly here in the NW, starting these types of projects means you can enjoy the fruits of your labor during the holidays.  If you’re thinking about doing one of these projects because you want to sell your home, contact me first. Together we’ll make sure that your fall project goal deserves your time, money and sacrifice from playing outdoors.

Related articles

• 52% of homeowners plan a home improvement this fall (agbeat.com)
• Home Remodel Examples (diy-home-tips.com)