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Liz Warren

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Displaying blog entries 191-200 of 1850

PGE Wildfire Post for Customer Safety

by Liz Warren

Customer safety will drive a decision in the next 24-48 hours

PORTLAND, Ore., Sept. 7, 2022 —Portland General Electric announced that it is monitoring dangerous, high-risk fire conditions and is increasingly likely to call public safety power shutoffs (PSPSs) in 10 areas that are at a higher fire risk, affecting approximately 30,000 customer meters. A PSPS is when PGE turns off power in a limited, high-risk area to help reduce the risk of wildfire and to help protect people, property and the environment. 

PGE is actively monitoring conditions and will make the decision based on factors including wind speed, temperature, humidity and the dryness of trees and brush, field observations and information from local fire departments and agencies. PGE will continue to monitor conditions for the next 24-48 hours and will provide an update. If conditions persist, PGE aims to provide up to four hours of notice before turning off power.  

Weather forecasts indicate strong, gusty winds are predicted across PGE’s service area, starting as early as Friday morning. “PGE works year-round to help keep our system safe and resilient from wildfire, including managing over 2.2 million trees along 12,000 miles of power lines,” said Larry Bekkedahl, senior vice president of Advanced Energy Delivery, PGE. “However, we are expecting extreme winds that could cause outages. We are preparing to have crews at the ready to begin repairing damage following the high winds, as soon as conditions are safe.”

The 10 PSPS areas are shown in the map below. Customers in these areas should check portlandgeneral.com/pspsto confirm if their power may be impacted. PGE encourages everyone who may be impacted by a PSPS or a weather-related outage to make an emergency plan and prepare an outage kit using the preparedness information that PGE sent to customers and that is also available on PGE’s website. 

If PGE calls a PSPS in these areas, PGE will shut off power as long as necessary  to protect against the risk of fire. A PSPS can last for multiple days. After weather conditions return to normal, PGE will begin to visually inspect its equipment and make any repairs necessary to safely re-energize lines. Based on current information, PGE estimates a PSPS could be called on Friday morning, and power could be out through Saturday night. Assuming this event duration and no damage to our system, power restoration would begin Sunday morning and power to customers could be restored by Monday night.

If PGE calls a PSPS in these areas, Community Resource Centers will likely be opened to provide information, water, ice, Wi-Fi and access to charging for personal electronics. More information will be provided in future updates.

PGE is communicating directly with customers in the impacted areas and will also communicate through the news media, on portlandgeneral.com/psps and on social media, @PortlandGeneral on Twitter and @PortlandGeneralElectric on Facebook, among other channels. 

Customer service is available at 503-228-6322 and service advisors can assist customers in more than 200 languages.

About Portland General Electric Company: Portland General Electric (NYSE: POR) is a fully integrated energy company based in Portland, Oregon. The company serves approximately 900,000 customers with a service area population of 2 million Oregonians in 51 cities. PGE owns 16 generation plants across Oregon and other Northwestern states and maintains and operates 14 public parks and recreation areas. For more than 130 years, PGE has powered the advancement of society, delivering safe, affordable, and reliable energy to Oregonians. PGE and its approximately 3,000 employees are working with customers to build a clean energy future. Together with its customers, PGE has the No. 1 voluntary renewable energy program in the U.S. PGE is committed to achieving at least an 80% reduction in greenhouse gas emissions from power served to customers by 2030 and 100% reduction by 2040. In 2021, PGE became the first U.S. utility to join The Climate Pledge. For the eighth year in a row PGE achieved a perfect score on the 2021 Human Rights Campaign Foundation's Corporate Equality Index, a national benchmarking survey and report on corporate policies and practices related to LGBTQ workplace equality. In 2021, PGE, employees, retirees, and the PGE Foundation donated $4.8 million and volunteered 15,760 hours with more than 300 nonprofits across Oregon. For more information visit www.PortlandGeneral.com/news.

 

 

How Owning a Home Builds Your Net Worth

by Liz Warren

How Owning a Home Builds Your Net Worth

How Owning a Home Builds Your Net Worth | MyKCM
 

Owning a home is a major financial milestone and an achievement to take pride in. One major reason: the equity you build as a homeowner gives your net worth a big boost. And with high inflation right now, the link between owning your home and building your wealth is especially important.

If you’re looking to increase your financial security, here’s why now could be a good time to start on your journey toward homeownership.

Owning a Home Is a Key Ingredient for Financial Success

report from the National Association of Realtors (NAR) details several homeownership trends, including a significant gap in net worth between homeowners and rentersIt finds:

“. . . the net worth of a homeowner was about $300,000 while that of a renter’s was $8,000 in 2021.”

To put that into perspective, the average homeowner’s net worth is roughly 40 times that of a renter’s. This difference shows owning a home is a key step in achieving financial success.

Equity Gains Can Substantially Boost a Homeowner’s Net Worth

The net worth gap between owners and renters exists in large part because homeowners build equity. When you own a home, your equity grows as your home appreciates in value and you make your mortgage payments each month. As a renter, you don’t have that same opportunity. A recent article from CNET explains:

Homeownership is still considered one of the most reliable ways to build wealth. When you make monthly mortgage payments, you're building equity in your home . . . When you rent, you aren't investing in your financial future the same way you are when you're paying off a mortgage.”

But on top of that, your home equity grows even more as your home appreciates in value over time. That has a major impact on the wealth you build, as a recent article from Bankrate notes:

“Building home equity can help you increase your wealth over time, . . . A home is one of the only assets that have the potential to appreciate in value as you pay it down.”

In other words, when you own your home, you have the advantage of your mortgage payment acting as a contribution to a forced savings account that grows in value as your home does. And when you sell, any equity you’ve built up comes back to you. As a renter, you’ll never see a return on the money you pay out in rent every month.

Bottom Line

Owning a home is an important part of building your net worth. If you’re ready to start on your journey to homeownership, let’s connect today.

Collins Lake End Unit Condo

by Liz Warren

Get ready for ski season! This end unit over looks the forest and creek at Collins Lake Resort in the heart of Government Camp. Three bedrooms and two and a half baths with tandem oversized garage. Easy walk to the pool and lodge. Grab the shuttle and take it to the slopes. 

Updated unit with beautiful furnishings. Comes turn key ready! $750,000.

Collins Lake Three Bedroom End Unit

Collins Lake Condo Living Room with Fireplace

Rhododendron Three Bedroom Three Bath on Jr. Acre

by Liz Warren

This successful three bedroom, three bath home is nearly 3,000 sq. ft. with updated kitchen and open floor plan. All level and usable land with lawn, garage, outbuildings and lots of privacy. Sit on your sunny deck and view Zig Zag Mountain. Take off for hiking trails or hit the slopes on 11 minutes away! Comes completely furnished.  $775,000

John Lake Road in Rhododendron Oregon

Vacation Rental For sale in Rhododendron Oregon near Mt. Hood

    Living Room at John Lake Road in Rhododendron           Mt. Hood Vacation Rental for sale in Rhododendron

It's Still a Seller's Market on Mt. Hood

by Liz Warren

Here's Why It's Still a Sellers' Market [INFOGRAPHIC] | MyKCM

 

Some Highlights

  • While buyer demand has moderated and housing supply has grown in recent months, it’s still a sellers’ market because inventory is low.
  • The latest data shows sellers continue to benefit from serious buyers and competitive offers. In July, the average home received 2.8 offers and 39% sold over the asking price.
  • You haven’t missed your opportunity to sell. Let’s connect to start the process today.

Pricing Your Home on Mt. Hood

by Liz Warren

        

What's Happening With Home Prices Today?

by Liz Warren

What’s Actually Happening with Home Prices Today?

What’s Actually Happening with Home Prices Today? | MyKCM
 

One of the biggest questions people are asking right now is: what’s happening with home prices? There are headlines about ongoing price appreciation, but at the same time, some sellers are reducing the price of their homes. That can feel confusing and makes it more difficult to get a clear picture.

Part of the challenge is that it can be hard to understand what experts are saying when the words they use sound similar. Let’s break down the differences among those terms to help clarify what’s actually happening today.

  • Appreciation is when home prices increase.
  • Depreciation is when home prices decrease.
  • Deceleration is when home prices continue to appreciate, but at a slower or more moderate pace.

Experts agree that, nationally, what we’re seeing today is deceleration. That means home prices are appreciating, just not at the record-breaking pace they have over the past year. In 2021, data from CoreLogic tells us home prices appreciated by an average of 15% nationwide. And earlier this year, that appreciation was upward of 20%. This year, experts forecast home prices will appreciate at a decelerated pace of around 10 to 11%, on average.

The graph below uses the latest data from CoreLogic to help tell the story of how home prices are decelerating, but not depreciating so far this year.

What’s Actually Happening with Home Prices Today? | MyKCM

As the green bars show, home prices appreciated between 19-20% year-over-year from January to March. But over the last few months, the pace of that appreciation has decelerated to 18%. This means price growth is still climbing compared to last year but at a slower rate.

As the Monthly Mortgage Monitor from Black Knight explains:

“Annual home price growth dropped by nearly two percentage points . . . – the greatest single-month slowdown on record since at least the early 1970s. . . While June’s slowdown was record-breaking, home price growth would need to decelerate at this pace for six more months to drive annual appreciation back to 5%, a rate more in line with long-run averages.”

Basically, this means, while moderating, home prices are still far above the norm, and we’d have to see a lot more deceleration to even fall in line with more typical rates of home price growth. That’s still not home price depreciation.

The big takeaway is home prices haven’t fallen or depreciated nationwide, they’re just decelerating or moderating. While some unique and overheated markets may see declines, nationally, home prices are forecast to appreciate. And when we look at the country as a whole, none of the experts project home prices will net depreciate or fall. They’re all projecting ongoing appreciation.

Bottom Line

If you have questions about what’s happening with home prices in our local area, let’s connect.

Start Your Mt. Hood Home Search Today

by Liz Warren

Why You May Want To Start Your Home Search Today

Why You May Want To Start Your Home Search Today | MyKCM
 

If you’re thinking about buying a home, you likely have a lot of factors on your mind. You’re weighing your own needs against higher mortgage rates, today’s home prices, and more to try to decide if you want to jump into the market. While some buyers may wait things out, there’s a reason serious buyers are making moves right now, and that’s the growing number of homes for sale.

So far this year, housing inventory has been increasing and that’s making the prospect of finding your dream home less difficult. While there are always reasons you could delay making a big decision, there are also always reasons to consider moving forward. And having a growing number of options for your home search may be exactly what you needed to feel more confident in making a move.

What’s Causing Housing Inventory To Grow?

As new data comes out, we're getting an updated picture of why housing supply is increasing so much this year. As Bill McBride, Author of Calculated Riskexplains:

We are seeing a significant change in inventory, but no pickup in new listings. Most of the increase in inventory so far has been due to softer demand - likely because of higher mortgage rates.”

Basically, the inventory growth is primarily from homes staying on the market a bit longer (known as active listings). And that’s happening because higher mortgage rates and home prices have helped moderate the peak frenzy of buyer demand.

The graph below uses data from realtor.com to show how much active listings have risen over the past five months as a result (shown in green):

Why You May Want To Start Your Home Search Today | MyKCM

Why This Growth Is Good News for You

Regardless of the source, the increase in available housing supply is good for buyers. More housing supply actively for sale means you have more options as your search for your next home. A recent article from realtor.com explains just how significant the inventory growth has been and why it’s good news for your plans to buy:

“Nationally, the inventory of homes actively for sale on a typical day in July increased by 30.7% over the past year, the largest increase in inventory in the data history and higher than last month’s growth rate of 18.7% which was itself record-breaking. This amounted to 176,000 more homes actively for sale on a typical day in July compared to the previous year and more choice for buyers who are still looking for a new home.

The growth this year is certainly good news for you, especially if you’ve had trouble finding a home that meets your needs. If you start your search today, those additional options should make it less difficult to find a home than it would have been over the past two years.

The Mt. Hood area now has 37 properties on the market for you to choose from! This is a substantial improvement with some prior months having only six or seven properties to choose from. 

Bottom Line

If you’re ready to jump into the market and take advantage of the increasing supply of homes for sale, let’s connect today. The opportunity is knocking, will you answer?

Three Tips for Selling Your Mt. Hood Home Now

by Liz Warren

             

Is This a Shifting Market for Mt. Hood Homebuyers?

by Liz Warren

Is the Shifting Market a Challenge or an Opportunity for Mt. Hood Homebuyers?

Is the Shifting Market a Challenge or an Opportunity for Homebuyers? | MyKCM
 

If you tried to buy a home during the pandemic, you know the limited supply of homes for sale was a considerable challenge. It created intense bidding wars which drove home prices up as buyers competed with one another to be the winning offer.

But what was once your greatest challenge may now be your greatest opportunity. Today, data shows buyer demand is moderating in the wake of higher mortgage rates. Here are a few reasons why this shift in the housing market is good news for your homebuying plans.

The Challenge

There were many reasons for the limited number of homes on the market during the pandemic, including a history of underbuilding new homes since the market crash in 2008. As the graph below shows, housing supply is well below what the market has seen for most of the past 10 years (see graph below):

Is the Shifting Market a Challenge or an Opportunity for Homebuyers? | MyKCM

The Opportunity

But that graph also shows a trend back up in the right direction this year. That’s because moderating demand is slowing the pace of home sales and that’s one of the reasons housing supply is finally able to grow. For you, that means you’ll have more options to choose from, so it shouldn’t be as difficult to find your next home as it has been recently.

And having more options may also lead to less intense bidding wars. Data from the Realtors Confidence Index from the National Association of Realtors (NAR) shows this trend has already begun. In their recent reports, bidding wars are easing month-over-month (see graph below):

Is the Shifting Market a Challenge or an Opportunity for Homebuyers? | MyKCM

If you’ve been outbid before or you’ve struggled to find a home that meets your needs, breathe a welcome sigh of relief. The big takeaway here is you have more options and less competition today.

Just remember, while easing, data shows multiple-offer scenarios are still happening – they’re just not as intense as they were over the past year. You should still lean on an agent to guide you through the process and help you make your strongest offer up front.

Mt. Hood inventory now sits at 30 available properties. One third of those properties are over $1,000,000. We've seen an increase of Mt. Hood National Forest inventory up to five available cabins!

Bottom Line

If you’re still looking to make a move, it may be time to pick your home search back up today. Let’s connect to kick off the home buying process.

Displaying blog entries 191-200 of 1850

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Liz Warren
Merit Properties Group - Keller Williams Realty PDX Central
Box 131
Welches OR 97067
Direct: 503-705-3090