Homeownership Can Make You Happier!
Wednesday, February 12, 2020
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Mt. Hood Real Estate Blog
Liz Warren
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Displaying blog entries 581-590 of 1921
Great News for Renters Who Want to Buy a Home on Mt. Hood
Thursday, February 6, 2020
Great News for Renters Who Want to Buy a Home on Mt. Hood
Rents in the United States have been skyrocketing since 2012. This has caused many renters to face a tremendous burden when juggling their housing expenses and the desire to save for a down payment at the same time. The recent stabilization of rental prices provides a great opportunity for renters to save more of their current income to put toward the purchase of a home.
Just last week the Joint Center of Housing Studies of Harvard University released the America’s Rental Housing 2020 Report. The results explain the financial challenges renters are experiencing today,
“Despite slowing demand and the continued strength of new construction, rental markets in the U.S. remain extremely tight. Vacancy rates are at decades-long lows, pushing up rents far faster than incomes. Both the number and share of cost-burdened renters are again on the rise, especially among middle-income households.”
According to the most recent Zillow Rent Index, which measures the estimated market-rate rent for all homes and apartments, the typical U.S. rent now stands at $1,600 per month. Here is a graph of how the index’s median rent values have climbed over the last eight years:
Is Good News Coming?
There seems, however, to be some good news on the horizon. Four of the major rent indices are all reporting that rents are finally beginning to stabilize in all rental categories:
1. The Zillow Rent Index, linked above, only rose 2.6% over the last year.
2. RENTCafé’s research team also analyzes rent data across the 260 largest cities in the United States. The data on average rents comes directly from competitively rented, large-scale, multi-family properties (50+ units in size). Their 2019 Year-End Rent Report shows only a 3% increase in rents from last year, the slowest annual rise over the past 17 months.
3. The CoreLogic Single Family Rent Index reports on single-family only rental listing data in the Multiple Listing Service. Their latest index shows how overall year-over-year rent price increases have slowed since February 2016, when they peaked at 4.2%. They have stabilized around 3% since early 2019.
4. The Apartment List National Rent Report uses median rent statistics for recent movers taken from the Census Bureau American Community Survey. The 2020 report reveals that the year-over-year growth rate of 1.6% matches the rate at this time last year; it is just ahead of the 1.5% rate from January 2016. They also explain how “the past five years also saw stretches of notably faster rent growth. Year-over-year rent growth stood at 2.6% in January 2018, and in January 2016 it was 3.3%, more than double the current rate.”
It seems tenants are getting a breather from the rapid rent increases that have plagued them for almost a decade.
If you're looking for local monthly rentals on Mt. Hood, you might want to try these two resources:
Mountain Retreats at 503-622-3212 in Brightwood or Welches Mountain Properties at 503-622-4275 right in Welches.
Bottom Line
Rental expenses are beginning to moderate, and at the same time, average wages are increasing. That power combination may allow renters who dream of buying a home of their own an opportunity to save more money to put toward a down payment. That’s sensational news!
Give me a call or drop me an email if you would like more into on how to get a pre-approval for buying!
Mt. Hood Vacation Rental Public Hearing Letter
Wednesday, February 5, 2020
On January 30, the County Board of Commissioners held its first public hearing on the proposed new regulations on short-term/vacation rentals in unincorporated Clackamas County. Before the meeting the commissioners received the results of the online questionnaire and additional public comments submitted by email.
After hearing testimony from 16 people, the board decided to extend the first public hearing until Thursday, Feb. 13, and asked to meet with staff to discuss the issues at a policy session.
That policy session was held yesterday afternoon. After much discussion, the Board of Commissioners continued to support the draft regulations, but did ask staff to make the following changes:
- Allow guest houses to be used as short-term rentals. (Current county code prohibits guest houses – defined as an adjacent sleeping area without a kitchen or laundry – from being rented.)
- Increase the maximum occupancy per short-term rental to two people multiplied by the number of sleeping areas plus four additional people. (For example, a two-bedroom home would have a maximum occupancy of eight people.) The total maximum occupancy for any short-term rental, even one with six or more sleeping areas, would remain at 15 people.
- Allow owners of short-term rentals in unincorporated Clackamas County inside the Portland urban growth boundary (UGB) to use a dwelling or guest house on a lot adjacent to their primary residence to be used as a short-term rental. (The current proposed language requires a short-term rental in the UGB to be the owner’s primary residence or located on the same lot as the owner’s primary residence.)
- Set fines for violation of short-term rental regulations similar to those for many other code enforcement violations -- $250 for first citation, $500 for second citation, $75/month administrative fee while the case is open, and additional charges for each day the violation continues.
The updated draft regulations will be available online at www.clackamas.us/planning/str later this week. As before, people who wish to comment are invited to send an email to Senior Planner Martha Fritzie at [email protected] or testify in person at the continuation of the first hearing or the second hearing. Both hearings will be in the Board Meeting Room on the 4th floor of the Public Services Building, 2051 Kaen Road, Oregon City.
- Continuation of first public hearing: Board of Commissioners Business Meeting, 10 a.m., Thursday, Feb. 13
- Second public hearing and Board action: Board of Commissioners Business Meeting, 10 a.m., Thursday, Feb. 27
Thank you for your continued interest.
Ellen Rogalin, Community Relations Specialist
Clackamas County Public & Government Affairs
Transportation & Development | Business & Community Services
503-742-4274 | 150 Beavercreek Road, Oregon City, OR 97045
Office hours: 9 am – 6 pm, Monday-Friday
Clackamas County Hearing for Short-Term/Vacation Rental Properties
Wednesday, January 29, 2020
The Clackamas County Board of Commissioners will hold a public hearing on draft regulations for short-term/vacation rental properties in unincorporated Clackamas County at the Board business meeting scheduled for 6 p.m., Thursday, Jan. 30, on the 4th floor of the Public Services Building, 2051 Kaen Road, Oregon City.
The draft regulations are available for public review at www.clackamas.us/planning/str. People who have comments but are not able to attend the Jan. 30 hearing are welcome to submit their comments by email or US Mail to Senior Planner Martha Fritzie at [email protected] or Planning & Zoning, Development Services Building, 150 Beavercreek Road, Oregon City, OR 97045.
A second public hearing on the draft regulations and Board action is planned for the Board Business Meeting at 10 a.m., Thursday, Feb. 13.
Clackamas County defines a short-term rental, or vacation rental, as a dwelling unit, or portion of a dwelling unit, that is rented to any person or entity for lodging or residential purposes, for a period of up to 30 consecutive nights.
The draft regulations include provisions for short-term rental owners to register with the county and pay a fee, and for enforcement of the regulations to be carried out by either the Sheriff’s Office or Code Enforcement, depending on the issue. Key components of the proposed regulations include rules regarding maximum occupancy, off-street parking, garbage pick-up, quiet hours, and fire and safety requirements. The regulations would only apply outside of city limits in unincorporated Clackamas County.
More information is available on the project website at https://www.clackamas.us/planning/str.
What Mt. Hood Buyers Want in a Home! GARAGES and PATIOS/DECKS
Tuesday, January 21, 2020
The 2 Surprising Things Homebuyers Really Want
In a market where current inventory is low, it’s normal to think buyers might be willing to give up a few desirable features in their home search in order to make finding a house a little easier. Don’t be fooled, though – there’s still an interest in the market for some key upgrades. Here’s a look at the two surprising things buyers seem to be searching for in today’s market, and how they’re impacting new home builds.
Homebuyers Are Not Giving Up Their Garages
The National Association of Home Builders (NAHB) recently released an article showing the percentage of new single-family homes completed in 2018. The data reveals,
- 64% of new homes offer a 2-car garage
- 21% have a garage large enough to hold 3 or more cars
- 7% have a 1-car garage
- 7% do not include a garage or carport
- 1% have a carport
The following map represents this breakdown by region:
Evidently, a garage is something homebuyers are looking for in their searches, but that’s not all.
Homebuyers Are Not Giving Up Their Patios
Patios are on the radar for buyers as well. Community areas are often common amenities in new neighborhoods, but as it turns out, private outdoor spaces are quite desirable too. NAHB also found that,
“Of the roughly 876,000 single-family homes started in 2018, 59.4% came with patios…This is the highest the number has been since NAHB began tracking the series in 2005.”
As shown in the graph below, the number of new homes built with patios has been increasing for the past 9 years. Clearly, they’re a desirable feature for new homeowners too.
Bottom Line
Homebuyers are looking for garage space and outdoor patio living. If you’re a homeowner thinking of selling a house with these amenities, it appears buyers are willing to spring for those key features. Let’s get together today to determine the current value and demand for your home.
Mt. Hood Log Cabin
Friday, January 17, 2020
Charming two bedroom log cabin in Timberline Rim near Brightwood. Open floor plan with all the bedrooms upstairs including a bonus sleeping area. Warm your toes up after a day on the slopes of Mt. Hood in front of the propane stove! It's only a block from the Sandy River too. Only 20 minutes to the slopes and a super easy one hour drive from Portland.
The cabin features stainless steel appliances, utility room, skylight, and two covered decks. The back deck is partially covered and the rest is sunny. A new hot tub was just installed too. Bonus outbuilding for storage!
Low HOA fees in Timberline Rim and amenities include pool and tennis court, lodge and common areas.
Snow Coming to Mt. Hood Cascades
Wednesday, January 8, 2020
Get ready because snow is on it’s way to the Cascades! Predictions are that we could see six feet at higher elevations possibly bringing our current snow pack levels up to “normal”. I see huge smiles coming for skiers and boarders this next week.
Here’s some info on our forecast from KGW
Winterizing a vacant home tips
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