Happy Halloween! Don't Get Spooked!
Wednesday, October 31, 2018
Add Comment
Real Estate Information Archive
Blog
Pages:
Displaying blog entries 121-130 of 367
Mt. Hood Fall Activities
Wednesday, October 17, 2018
Here are a couple of great hikes to see the fall colors on Mt. Hood. The huckleberry and vine maple along the Mirror Lake hike near Government Camp will put on a magnificent show.
Barlow Pass Road to Timberline Lodge on the Pacific Crest Trail will have great views at a higher elevation will be stunning.
Take the Salmon River Trail to view the fall salmon runs and spot fish.Another great spot to view salmon spawning is along Still Creek.
Mushroom season has started with the last recent rain. Be sure and get a permit at the Zig Zag Ranger station if you're heading into the forest to gather and know the restricted areas.
Pumpkin Time:
- Head out to Boring for Liepold Farm’s annual Fall Harvest Festival. They have a great selection of pumpkins and is the closest pumpkin patch to the mountain.
Hood To Coast Run Today
Friday, August 24, 2018
Today is the day Hood to Coast, one of the biggest relay races in the country, fills our Highway 26 with funky vans and costumed runners for miles and miles. The race starts at Timberline Lodge and ends at Pacific City at the beach. Here are some fun facts about the run from the official website.
Air quality has been a big concern with lots of smoke socked in the Mt. Hood Village area. Predictions say the lift should come around noon today and with our cool temperatures that have rolled in the majority of runners may be spared the smoke filled air.
Drivers should be on top of their game watching for distracted van drivers and streams of runners throughout the course.
Mt. Hood Steiner Log Cabin Tour August 11, 2018
Wednesday, June 27, 2018
It's that time of the year to hit the Steiner Log Cabin Tour. Only 300 tickets are sold for this yearly event.
Here are details from the Mt. Hood Museum in Government Camp, which is the sponsor of the event.
Enjoy this article from Oregon Live on details of the Steiner Tour and what to expect on your tour.
Mt. Hood Rents Skyrocket
Sunday, April 29, 2018
The rental situation in the Mt. Hood area is bleak. Demand far outstrips supply. The problem is, there is no supply. May sellers who made it through the recession and bubble bust have now decided to sell reducing rental inventory even further.
We see renters in our office nearly every day looking for a place to land. I don't recall even seeing a for rent sign in two years. The massive migration over the past five years to Portland has increased our population substantially. Just drive through Portland and see the multi-level units popping up on every other block. Where will all these people park?
Higher rents in PDX has pushed many more folks to the mountain which is a little more affordable for purchasing but try to find a rental.....good luck! We wonder how this will maintain this pace. If a buyer can buy in the long run, it's almost the only way to go!
Salmon Valeey Water System in Welches Oregon
Sunday, March 18, 2018
If you're in the Salmon Valley Water district you may or may not be aware of a pending sale of the water system. It looks like Northwest Natural Gas Company has struck a deal with the water company in December 2017. The sale should be completed no sooner than 60 days from their agreement and must be approved by the Public Utility Commission of Oregon. It may have already happened by the time this is posted. Here is a link to their website for additional information.
Handbell Musicians of America Performing at the Resort at the Mountain March 11 at 4:00 pm
Saturday, March 10, 2018
Replacement of Elk Park Road Bridge over Salmon River March 2018 through Fall 2019
Saturday, March 10, 2018
Here are details right from the Clackamas County website:
Project Description: Replace the existing one-lane bridge with a new two-lane bridge. The current bridge, built in 1958, is reaching the end of its functional life and is weight-limited. The 18-month construction project includes building a temporary detour bridge, removing the old bridge, building the new bridge and then removing the detour bridge.
Things to be aware of:
- Trees are being removed early to avoid any conflicts with nesting birds.
- Work in the water is limited by law to strict time periods (known as the “in-water work window”), generally 6 weeks during the summer
- There may be delays of up to 20 minutes, but no complete closure is scheduled. If there is a need for a closure of longer than 20 minutes, area residents will be notified at least 24 hours in advance and accommodations will be made for emergency vehicles, as needed.
Funding:
- $2.9 million -- Federal Highway Administration Highway Bridge Replacement and Rehabilitation Program
- $330,000 -- County Road Fund
You may be interested to know:
- The bridge is a critical life line for residents, as this is the sole access to several homes
- The bridge is considered structurally deficient and functionally obsolete.
- The bridge has three spans (100-foot steel pony truss and two timber approach spans).
More details: Visit http://www.clackamas.us/engineering/elkparkbridge.html
Tax Reform and Housing: A Reference Guide
Sunday, January 7, 2018
Tax Reform & Housing: A Reference Guide
- Disclaimer: This guide is not meant to be a resource for tax advice but instead a resource for basic information concerning only certain aspects of the new tax code and how they may impact the real estate market. You should get tax advice from your accountant or tax preparer who will explain how the entire tax code will affect your personal return.
This information comes immediately after the new tax code became law. Some of the information may be revised as the analysis of the new law evolves.
When the tax code was originally being overhauled by the House and the Senate, there were three major proposals being considered that would have substantially impacted the residential real estate market:
- Changing the requirements for the exclusion of gain on the sale of a principal residence
- The reduction on the limit of the Mortgage Interest Deduction (MID)
- The elimination of the State and Local Tax deduction (SALT) which includes property taxes
Let’s look how the tax code has evolved from the original proposal, and decipher what impact experts believe it may have on the housing market.
1. Exclusion of gain on sale of a principal residence
Original Proposal: Owners would need to live in their house for at least 5 out of the last 8 years to claim this exemption. Under the former tax framework, a typical owner, who has lived in their house for at least 2 years out of the last 5 years, would pay nothing in capital gain taxes if they sell the house.
The New Tax Code: No change. The “at least 2 years out of the last 5 years” requirement is unchanged.
Impact on the Market: None.
2. Mortgage Interest Deduction
Original Proposal: Reduce the limit on the mortgage interest deduction (MID) amount from $1,000,000 to $500,000.
The New Tax Code: Reduces limit on deductible mortgage debt to $750,000 for new loans taken out after 12/14/17. Current loans up to $1 million are grandfathered.
Impact on the Market: Assuming a 20% down payment, this reduction in the MID will impact buyers that are purchasing a home between the prices of $938,000 and $1,250,000. Any home under the lower price is still covered and any home over the higher price was not covered under the former tax code either.
What does that mean to the market? Experts disagree. Calculated Risk’s Bill McBride:
“I think the impact of reducing the MID from a maximum of $1 million in mortgage debt to $750 thousand in mortgage debt will have very little impact on the housing market.”
On the other hand, Capital Economics claims:
“The impact on expensive homes could be detrimental, with a limit on the mortgage interest deduction raising taxes for those that itemize.”
3. State and Local Taxes (SALT)
Original Proposal: The elimination of the state and local tax deduction (which includes property taxes).
The New Tax Code: Allows an itemized deduction of up to $10,000 for the total of state and local property taxes and income or sales taxes.
Impact on the Market: Most experts agree that higher taxed regions will be impacted as homeowners in those communities now have a cap on these deductions.
Calculated Risk’s Bill McBride stated:
“SALT will have an impact on housing in some areas. Some people might choose to live in one state over another (if they have a choice), based on taxation. This could impact demand in certain states – especially for the middle and upper-middle class homeowners.”
Mark Zandi of Moody’s Analytics said:
“The impact on house prices is much greater for higher-priced homes, especially in parts of the country where incomes are higher and there are thus a disproportionate number of itemizers, and where homeowners have big mortgages and property tax bills.”
What will be the overall impact on the housing market?
For most of the country, the new tax code will not have a negative impact on the market. As Capital Economics reports:
“Given most households will see an overall tax cut, and potential buyers are likely to put that saving towards their home, we doubt it will have a significant detrimental impact on the housing market.”
There is also no doubt that some higher priced, higher taxed regions will be affected more than others. However, most experts agree that other portions of the tax code will favor the high-end buyer and seller, and this might mitigate many concerns. McBride explains:
“The corporate tax cuts (and other tax cuts) will mostly benefit the wealthy, and this will be a positive for high end real estate.”
What does this all mean to you?
To know for sure, you should sit with your accountant or financial planner and explore how all the aspects of the new code will impact your family.
Most families consider homeownership an essential part of the American Dream, and don’t purchase a home based solely on the tax advantages. The main reasons they buy a home are personal (they just got married, they are looking for a good place to raise children, they want to be near friends and family, they want to better enjoy their retirement, etc.). This will never change.
Looking at the new tax code, Mr. McBride’s opinion makes the most sense:
“There will be some negative impact based on SALT, but overall the impact of these policy changes on housing will be minimal.”
Pages:
Displaying blog entries 121-130 of 367
Syndication
Categories
- Government Camp Real Estate (755)
- Mt Hood Inspiration-Morning Coffee (256)
- Mt. Hood 1031 Tax Exchanges (75)
- Mt. Hood Economic Conditions (825)
- Mt. Hood Local Events (366)
- Mt. Hood Mortgage and Financing Information (408)
- Mt. Hood National Forest Cabins (512)
- Mt. Hood New Properties on Market (310)
- Mt. Hood Sales Information (357)
