Happy New Year from Mt. Hood
Wednesday, January 1, 2020
Here’s to a Wonderful 2020!
We hope 2020 is a great year for you, both personally and professionally!
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Mt. Hood Homeownership
Tuesday, December 10, 2019
A 365 Day Difference in Homeownership
Over the past year, mortgage rates have fallen more than a full percentage point. This is a great driver for homeownership, as today’s low rates provide consumers with some significant benefits. Here’s a look at three of them:
- Refinance: If you already own a home, you may want to decide if you’re going to refinance. It’s one way to lock in a lower monthly payment and save substantially over time, but it also means paying upfront closing costs too. You have to answer the question: Should I refinance my home?
- Move-up or Downsize: Another option is to consider moving into a new home, putting the equity you’ve likely gained in your current house toward a down payment on a new one that better meets your needs – something that’s truly a perfect fit for your family.
- Become a First-Time Homebuyer: There are many financial and non-financial benefits to owning a home, and the most important thing is to first decide when the time is right for you. You have to determine that on your own, but know that now is a great time to buy if you’re considering it. Just take a look at the cost of renting vs. buying
Why 2019 Was a Great Year for Homeownership
Last year at this time, mortgage rates were 4.63% (substantially higher than they are today). If you’re one who waited for a better time to make a move, market conditions have improved significantly. Today’s low mortgage rates combined with increasing wages are making homes much more affordable than they were just one year ago, so it’s a great time to get more for your money and consider a new home.
The chart below shows how much you would save based on today’s rates, compared to what you would have paid if you purchased a house exactly one year ago, depending on how much you finance.
Bottom Line
If you’ve been waiting since last year to make your move into homeownership, or to find a house that better meets your needs, today’s low mortgage rates may be just what you need to get the process going. Let’s get together to discuss how you can benefit from the current rates.
Don't Get Spooked by Today's Real Estate Market
Wednesday, October 30, 2019
Mt. Hood September Sales 2019
Thursday, October 17, 2019
Mt. Hood sales are up with pending sales in September reaching 31% higher than this same time period in 2018. Average sales price is $354,000! Twenty sales closed in September and the activity is continuing into October. There are currently 63 residential properties for sale and there are 29 pending sales as of today. These numbers bode well for a great fall of activity.
Pre-Emtive Power Shut Down Could Come to the Mountain?
Wednesday, October 9, 2019
The big California fire in and near Paradise, Ca. was started by a PG & E line in 2018 and the lawsuits have been flying since potentially bankrupting the utility company. Super high winds, which spread that fire, are scheduled to kick up today and tomorrow in the bay area and power to the entire region is set to shut down by PG & E. They want to shut down power for 2.4 MILLION people in the San Francisco bay area! That sounds like a monumental task to me and what kind of chaos will that cause for the area.
I caught this media blurb about our PGE company considering the same preventative outage plan for Government Camp and Welches in the extreme event of super high fire danger and high wind conditions. After watching the Eagle Creek Fire in the Gorge burn up thousands of acres in 2017, although man-made, it's surely on everyone's mind.
PGE officials say, it's only under consideration and highly unlikely this would happen unless we came into very extreme conditions. PGE was cutting back all trees and brush in the Mt. Hood National Forest along power lines all summer with large fleets of workers staged locally in Zig Zag completing the task.
Mt. Hood Vacation Rentals
Wednesday, September 25, 2019
If there's one dominating market segment on Mt. Hood these days, it's the vacation rental market. This frequently combines an owners personal use with funds to offset their expenses to help pay off that mortgage or create a stream of income.
Clackamas County has studied the vacation rental market since there are no zoning and regulation policies for vacation rentals. Here is a recent notification from the county if you've been following the studies and local meetings:
The Clackamas County Board of Commissioners is holding a policy session on Wednesday, Sept. 25 to discuss draft regulations for short-term rentals in unincorporated Clackamas County. The meeting is scheduled from 9:30-11 a.m. in the Board Hearing Room on the 4th floor of the Public Services Building, 2051 Kaen Rd., Oregon City.
The materials prepared for the meeting by staff, including the draft regulations, are available here: https://dochub.clackamas.us/documents/drupal/41f33e9e-8da9-420d-9b13-0abb8e81722c. The purpose of the meeting is for staff and commissioners to discuss next steps related to these draft regulations. The public is welcome to observe, but there will not be an opportunity for public comment. An audio-tape of the meeting will be available later in the week at https://www.clackamas.us/meetings/bcc/presentation.
Appreciation
Wednesday, August 7, 2019
Appreciation Is Strong: It Might Be Time to Sell
There’s no doubt that today’s housing market is changing, and everything we see right now indicates it is time to sell. Here’s a look at why selling now is likely to drive the greatest return on your largest investment.
Home values have been appreciating for several years now, growing at a strong, steady, and impressive pace. In fact, the average annual appreciation rate since 2012 has nearly doubled the average rate from the more normal market of the 1990s (think: pre-bubble).
Appreciation, however, is projected to shift back toward normal, meaning home prices will likely keep climbing over the next few years, but they are not projected to continue to increase at such a high rate.
Here’s What That Means for Homeowners:
As noted in the latest Home Price Expectation Survey (HPES) powered by Pulsenomics, experts forecast an average annual appreciation rate closer to 3.2% over the next five years, which is more in line with a historically normal market (3.6%). The good news is, there’s still time to take advantage of the current strength of home prices by selling your house now.
Looking at the projections as they stand today, 2019 is slated to drive the strongest appreciation as compared to the upcoming few years. With average home prices still on the rise, the pace at which they are predicted to continue increasing will likely soften by 2020.
Bottom Line
If you’re thinking about selling your house, now is a great time to make your move. Don’t get stuck waiting until projected home price appreciation rates potentially re-accelerate again in 2023. You’ll likely earn the greatest return on your investment by selling now before the prices start to normalize next year.
Camp Creek Log Cabin on Mt. Hood
Sunday, July 14, 2019
This is it! A charming log cabin nestled above Camp Creek close to skiing and hiking in the Mt. Hood National Forest. Rainbow rock fireplace, wood floors, windows galore and a cozy loft for sleeping. Only seven minutes to the slopes. An outbuilding for all of your Mt. Hood toys. Gated driveway and a short path down to the creek. Huge deck for summer fun! Windows out to the pristine forest setting. This is the quintessential mountain getaway. $219,000.
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