Many believed that when the housing market crashed, so too would the desire of American’s to own a home again. Many reports have shown that, especially among younger generations, the American Dream of homeownership is still very much alive. Julián Castro, Secretary for HUD, recently summed up what it means to own a home in a speech at the National Press Club.
"Homeownership is still the cornerstone of the American Dream — a fact you can see in the lives of everyday folks.It’s a source of pride. It’s a source of wealth, providing both a nest and a nest egg. And it strengthens communities and fuels growth in the overall economy."
Castro appropriately named his speech, “2015: A Year of Housing Opportunity”, a theme that rang true throughout.
“Opportunity is not an abstract concept – it's a path to a more prosperous life, and housing often serves as its foundation. T.S. Elliot once said that "home is where one starts from."“A home is often a primary source of wealth in a family… Having a home is generational way to pass that wealth on. We want people responsible enough to own a home to have that opportunity.”
Bottom Line
“Over the years-through decades of economic downturns and wars-the American people have always held on to this Dream, and always will.”
As the economy continues to improve, more and more Americans will qualify for homeownership, allowing more families to obtain the American Dream.
It's finally here – the day I can share pictures of our new kitchen. We've been working on it since October, and the lights finally went in yesterday, so I can post a pic!
I'm happy to talk about kitchens with you all day long! We're in love with it, and are so glad we finally pulled the trigger. Problem is, kitchens are expensive, and it's hard to dump money into your house unless you know you're either going to live there a long time and enjoy it, OR you can count on recovering your expenses.
In comes the Cost-vs-Value Report to help you decide how much to spend, and how much you'll recover.
Our kitchen remodel was mid-range, so it looks like we should recover 81.1% (if we were to sell now) and I've already enjoyed 19% worth, so I could sell now without wringing my hands.
Please enjoy my photos and call me any time to talk about your future remodeling plans, and how they will impact the sale of your home. (Sometimes it's just to talk color, finishes, or what's new in the marketplace) I can't wait to talk kitchens with you!
The camillias are in already bloom & the daffodils and primroses are popping up in my front yard – my first sign that spring is already on its way. After a long, dark winter, spring's bright sun and warm winds are a breath of fresh air. The only downside? All that sunshine spotlights your leaf-filled gutters, cracked sidewalks and the dead plants in last year's flower beds.
Dwight Barnett, a certified master inspector with the American Society of Home Inspectors, shared this checklist to help you target the areas that need maintenance so you can get your chores done quickly, leaving you time to go outside and play in the sunshine.
Check for loose or leaky gutters. Improper drainage can lead to water in the basement or crawl space. Make sure downspouts drain away from the foundation and are clear and free of debris.
Low areas in the yard or next to the foundation should be filled with compacted soil. Spring rains can cause yard flooding, which can lead to foundation flooding and damage. Also, when water pools in these low areas in summer, it creates a breeding ground for insects.
Use a screwdriver to probe the wood trim around windows, doors, railings and decks. Make repairs now before the spring rains do more damage to the exposed wood.
From the ground, examine roof shingles to see if any were lost or damaged during winter. If your home has an older roof covering, you may want to start a budget for replacement. The summer sun can really damage roof shingles. Shingles that are cracked, buckled or loose or are missing granules need to be replaced. Flashing around plumbing vents, skylights and chimneys need to be checked and repaired by a qualified roofer.
Examine the exterior of the chimney for signs of damage. Have the flue cleaned and inspected by a certified chimney sweep.
Inspect concrete slabs for signs of cracks or movement. All exterior slabs except pool decks should drain away from the home's foundation. Fill cracks with a concrete crack filler or silicone caulk. When weather permits, power-wash and then seal the concrete.
Remove firewood stored near the home. Firewood should be stored at least 18 inches off the ground at least 2 feet from the structure.
Check outside hose faucets for freeze damage. Turn the water on and place your thumb or finger over the opening. If you can stop the flow of water, it is likely the pipe inside the home is damaged and will need to be replaced. While you're at it, check the garden hose for dry rot.
Have a qualified heating and cooling contractor clean and service the outside unit of the air conditioning system. Clean coils operate more efficiently, and an annual service call will keep the system working at peak performance levels. Change interior filters on a regular basis.
Check your gas- and battery-powered lawn equipment to make sure it is ready for summer use. Clean equipment and sharp cutting blades will make yardwork easier.
I'm so used to my usual haunts that I sometimes forget to shop in some of Portland's most unique, fun areas. Thankfully, I have a visitor today who's an experienced shopper and would love to avoid the mainstream shops & concentrate on Portlandia.
I did a tiny bit of research before deciding on my finalists (I'll let her choose) but here is a super fun list of ideas for you next time your shopping buddies come to town!
It's that time of year when we like being downtown & feeling festive! When you're worn out from carrying all those shopping bags, it's time for refreshments! What sounds fun? How about the ten restaurants below? Happy Shopping!
Article courtesy of Oregonlive MIX
Fredrick D. Joe
We come for the shopping and tree-lighting. For the festive twinkly lights and pictures with Santa. We come for the concerts and plays and window displays, and to give our visiting guests a night on the town. During the month of December, it seems like the entire population of the metro area converges on downtown Portland and at some point we all ask ourselves … where should we go to eat? When your feet are sore, or the play is about to start, it's easy to succumb to mediocre chains just steps from the action, but we don't believe in wasting a single meal on food that doesn't make us happy. So we pounded the pavement for you, finding 10 great local places that are open both Saturday and Sunday (no easy task) and offer plenty of options, whether you're looking to fuel up before a day of shopping or wind down after a show.
1) Zeus Cafe
Think McMenamins and food, and you'll probably picture pub grub. But Zeus Cafe, the new restaurant in the Crystal Hotel, aims to broaden that perception. The day starts at 7 a.m. with dishes like wood-baked eggs with parmesan creme fraiche, truffle oil and toast, and ends with a late-night menu that runs into the wee hours, offering up mini water- buffalo burgers on brioche buns, and fried chickpeas with smoked paprika. Clearly we're not in tater tot land anymore. Entrees can be inconsistent, but the plump mussels swimming in a broth stocked with Olympic Provisions chorizo are just fine. As are the crisp, wood-fired pizzas topped with, say, San Marzano tomatoes, mozzarella and arugula. And if you're hankering for a drink, Zeus Cafe has a legitimate bar program, with original cocktails that trend toward sweet (the Flossy Mule, for example, adds lavender syrup to the vodka, lime and ginger beer in a traditional Moscow Mule). And the pink, bitters-infused spheres of ice are a sight to behold. — MICHAEL RUSSELL 303 S.W. 12th Ave., 503-384-2500; mcmenamins.com
Breakfast, lunch and dinner daily.
2) Kenny & Zuke's Delicatessen
Serving breakfast, lunch and dinner all day, Kenny & Zuke's is there for you, whenever your pastrami craving strikes. The bustling Jewish deli makes pretty much everything in house, from its applesauce and kugel to its bialys and rye bread. But it's the wet-cured, slow-smoked, coriander-and-pepper-spiced pastrami that has earned the deli national attention, and rightfully so. You can order it in a Benedict at breakfast, piled onto a burger or cheese fries at lunch and, of course, in the classic and stellar Reuben. Grilled and stacked with pastrami (or corned beef if you would rather), melty Swiss cheese, house-pickled sauerkraut and homemade Russian dressing, it's nothing short of sinful. Same goes for the behemoth, double-decker, multi-meat Meshugaletta Sandwich. In fact, you might want to hit Kenny & Zuke's when you are done with your day, because after eating sandwiches like these, the only thing you are going to want to do is take a well-deserved nap. — JENNIFER COSSEY 1038 S.W. Stark St., 503-222-3354; kennyandzukes.com
Breakfast, lunch and dinner daily. Happy hour Monday-Friday.
3) Violetta
Nothing warms cold hands like a thick, hot burger dripping with special sauce. Billed as "slow food, fast," Violetta serves up near-perfect burgers with a local twist (beef from Scio, bacon from Carlton, onions from Brooks … you get the idea), plus five kinds of hand-cut fries, including sweet potato and chili cheese. To wash it all down, there's a solid selection of craft beers, shakes and small-batch sodas. But you don't have to be in the mood for a gut-busting lunch or dinner to dine here. Stop by the cafe in Director's Park to warm up and refuel with soup or salad, or get your sugar buzz going with a bag of fried-to-order beignets, hot apple pie from Random Order, and Holy Kakow hot chocolate. — HANNA NEUSCHWANDER Violetta in Director's Park, 887 S.W. Taylor St., violettapdx.com.
Lunch and dinner daily.
4) Mother's Bistro
In this Victorian dining room of a bistro, you can hang your hat and savor the best food your mother never had time to make — rich and creamy mac-and-cheese, fresh pear and huckleberry cobbler with the flakiest golden-brown crust — all made from scratch. The day begins with rib-sticking breakfast dishes like biscuits and gravy or wild salmon hash, followed by hearty lunch and dinner classics like savory pot roast made with local beef. Benny's Chicken Sandwich is a lunchtime must — a full breast of juicy, free-range chicken smothered with spicy aioli and melted cheddar cheese topped with fresh avocado. Just looking for a little pick-me-up? Stop in to relax with a cup of frothy hot cocoa and a homemade cookie or slice of pie. Mother would approve. — AMANDA ECKERSON 212 S.W. Stark St., 503-464-1122; mothersbistro.com Breakfast, lunch and dinner Tuesday-Saturday, no dinner Sunday, closed Monday
5) The Original
When it first opened, the menu at this modern diner was riddled with ill-conceived gimmicks (like the doughnut hamburger). Thankfully the gimmickry is mostly gone, leaving downtown shoppers with a solid and crowd-pleasing place to grab a bite for breakfast, lunch or dinner. With its vinyl, '50s-style booths and postmodern art mobiles, the decor juxtaposes vintage and chic as the menu does savory and sweet. The upshot? There's something for everyone — from adventurous eaters to picky kids. Original concoctions like pancakes drizzled in blueberry jam and peanut butter sauce or crunchy cornmeal-bacon waffles are just a few of the oddly delicious choices at breakfast. At lunch and dinner, juicy burgers with shallot aioli and hearty classics like chicken potpie take the spotlight. Everything goes best with one of the homemade sodas (try the ginger-mint) and a savory serving of poutine: gravy-drenched french fries and cheese curds that are one of the best things to hit your belly after a spirited night on the town. Thankfully, they're served until 4 a.m. on Fridays and Saturdays. — AMANDA ECKERSON 300 S.W. Sixth Ave., 503-546-2666; originaldinerant.com
Breakfast, lunch and dinner daily. Happy hour Monday-Friday. Late night menu Friday-Saturday until 4 a.m.
Fredrick D. Joe
6) Brasserie Montmartre
A Francophile oasis, Brasserie Montmartre offers a calming respite from the bustle of downtown. Under the direction of chef Pascal Chureau, the lunch and dinner menu teems with well-executed French classics like gruyere-topped onion soup, croque monsieur and quiche. But there are a few surprises, too, like a croissant filled with rich lobster salad and avocado coulis, or crepes stuffed with braised pork belly, chevre and arugula. On weekends, brunch-goers can choose from three different Benedicts, as well as Frenchy belly-fillers like duck confit hash. During the lengthy happy hour (from 2-6 p.m. daily), as well as from 10 p.m. to midnight, prices drop on bar menu favorites like the golden, crispy frites — which come in five varieties, including foie gras-Szechuan pepper. A bowl of spicy moules frites falls from $12 to $8, oysters are $1.50 a pop. To drink there's a great selection of mostly French wines, plus top-notch spirits, original and classic cocktails, and craft beers on draft — including a rotating tap from Cascade Brewing. — DANIELLE CENTONI 626 S.W. Park Ave., 503-236-3036; brasserieportland.com
Lunch, dinner, happy hour and late-night menu daily. Brunch on Saturday and Sunday.
Doug Beghtel
7) Urban Farmer
It's an upscale restaurant in an upscale hotel (The Nines), but that hotel is at the top of a department store (Macy's), so no one will look askance if you show up to this comfortable yet high-end steakhouse loaded down with shopping bags. Forget greasy mall food and take a break for real lunch here, where you'll find dishes like rich grits with a poached egg, spiced shrimp and pulled pork, or a divine cheese steak with shaved sirloin and gruyere fondue. After a day of shopping, or before (or even after) heading to a show, hit happy hour (3-6 p.m. and after 10 p.m.) for filling $4 and $5 dishes like tender beef sliders, Reubens, or mac-and-cheese with oil-cured tomatoes. Dinner is much pricier, as you'd expect from a steakhouse, with about a dozen choices of steaks in various breeds and styles — grass-fed, pasture-raised, grain-finished, corn-fed, dry-aged … you get the picture. — Danielle Centoni 525 S.W. Morrison St. (on the eighth floor of The Nines hotel), 503-222-4900; urbanfarmerrestaurant.com
Breakfast, lunch and dinner Monday-Friday, brunch and dinner Saturday-Sunday. Daily happy hour from 3-6 p.m. and 10 p.m.-close.
Quick Pick-Me-Ups
8) Saint Cupcake Galore
Saint Cupcake's new location, just five blocks west of Pioneer Courthouse Square, is bright and light, furnished simply with red metal seats and reclaimed wooden bleachers. But it's hard to appreciate the decor when all you can see are rows of gleaming, brightly colored cupcakes just begging to be eaten. The moist and rich carrot cake, with just the right amount of savory spice and a hint of black pepper, topped with silky vanilla cream cheese frosting, is particularly hard to resist. But the patron saint of sweet doesn't just do cake. Cinnamon rolls, sticky buns, butterscotch- and chocolate-loaded cookies (including one made with smoked flour), and even savory snacks like brioche buns stuffed with mustard, ham and cheese, mean there are plenty of reasons to stop in and take a load off in the bakery/cafe. Add an espresso drink from locally roasted Water Avenue Coffee and you'll be properly fueled for any urban adventure. — JENNIFER COSSEY 1138 S.W. Morrison St., 503-473-8760; saintcupcake.com
8 a.m.-7 p.m. Monday-Friday, 9 a.m.-7 p.m. Saturday, 11 a.m.-5 p.m. Sunday.
9) Public Domain
Yes, there's a Starbucks smack dab in the middle of Pioneer Courthouse Square, but when your caffeine level begins to dip, it's well worth the one-block walk to Public Domain instead. The coffee shop is owned and operated by one of Portland's first roasters, Coffee Bean International, and it offers a serene, sleek place to get a good caffeinated kick in the pants. Like a brewery dedicated to its craft and the craft of its comrades, Public Domain usually has guest roasters "on tap," such as the city's own Oblique. But true coffee geeks will be happy to know they can specify the brewing method, too. In addition to the espresso machine and French press, there are four pour-over brewers to choose from: Hario V60, Chemex, Clever and Kone. For nibbling, there are beautiful pastries from Nuvrei Bakery. Try the wheatless oatmeal and raisin bar. Part oatmeal cookie, part lunch, it's soft and dense and easy to share with a buddy. Pull up a seat and decompress — there's free Wi-Fi and wall-to-wall/floor-to-ceiling windows to enjoy the scenery, lights and people of downtown. — JENNIFER COSSEY 603 S.W. Broadway, 503-243-6374; publicdomaincoffee.com
6 a.m.-7 p.m. Monday-Friday, 7 a.m.-7 p.m. Saturday-Sunday
10) Cacao
Few things can make you more immediately alert — and happy — than a shot of thick, liquid chocolate. At Cacao you can get your 2.5-ounce or 7-ounce wake-up call in three gorgeous flavors: milk chocolate with cinnamon, dark chocolate and "Special Spicy" — dark chocolate with coconut milk, paprika, cayenne and ginger. Can't choose? No problem, you can get a flight of all three. For those in a slightly less decadent mood, there's Cacao's regular hot chocolate (still among the richest in town) using 65 percent cacao or 72 percent cacao — your choice — as well as espresso drinks made with Caffe Vita coffee. If a mocha is too much, try the macchiato, a shot of espresso cut with an equal amount of dark hot chocolate. Sit down and connect your laptop (at the 13th Avenue location only) or continue your holiday shopping. The store has the best artisan chocolate bars and confections that Portland, and much of the world, has to offer. Not sure what something tastes like? The staff can help you sample just about anything. Before you go, purchase a handful of the Bequet salted caramels at the counter. They make a great on-the-go pick me up — and stocking stuffer. — JENNIFER COSSEY West End: 414 S.W. 13th Ave., 503-241-0656; cacaodrinkchocolate.com
10 a.m.-8 p.m. Monday-Thursday, 10 a.m.-10 p.m. Friday-Saturday, 11 a.m.-6 p.m. Sunday
At The Heathman: 712 S.W. Salmon St., 503-274-9510; cacaodrinkchocolate.com
9 a.m.-8 p.m. Monday-Saturday, 10 a.m.-7 p.m. Sunday
When planning your trip to Oregon, be sure to include a weekend in wine country!
The Vintages is a trailer resort located in Dayton, among the rolling hills of Oregon’s wine country. The "hotel" is a collection of 8 retro trailers grouped into a compact neighborhood on a 14-acre RV Park in Willamette Wine Country. What a fun vacation idea!
These retro trailers provide an idea of what it would have been like to stay in a trailer of the 1950s and 1960s—with the comfort and coziness of a hotel." Each trailer offers a unique lodging experience tailored to compliment your wine tasting, dining and exploration. A short list of amenities includes gourmet pour-over coffee from Caravan Coffee, luxurious terrycloth robes, comfortable mattresses and fine hotel-quality linens. Should you decide to put your culinary skills to good use, your trailer features a propane grill and all the tableware and utensils you could possible desire (including a wine opener, of course!)
The park offers a breathtaking view of the neighboring vineyards, a pool & hot tub and outdoor lawn games for all to enjoy. Additionally, should you bring your pet along for the ride, we’re right next door to a dog park where your four legged friend can run around while you pick wild blackberries. We have cruiser bikes you can pedal over the bridge to the neighboring town of Dayton, a gateway to many of the local vineyards.
Holiday in style, relive the past, in the heart of Oregon’s wine country. Join us at The Vintages!
This gorgeous kitchen remodel was entirely permitted by Washington County!
When it’s time to remodel or make improvements to your home, you may wonder whether you need a permit.
For many projects, having a permit from the city government is crucial because the changes to your home will then go on record with the city, plus it ensures inspectors will check for any red flags. If you were to rewire your home incorrectly, there could be potential for short circuiting and even electrocution! Also when you try to sell or refinance your home, buyers and lenders want to know that your remodels comply with building codes, so you need to have proof via the permits from the city. I'm kind of a stickler for this, so please don't try to cheat the system! It's for your protection!
How do you determine which remodels and renovations require permits? Most contractors will know ahead of time, but it’s good for a homeowner to be aware and avoid fraud or future repairs. The general rule of thumb is that structural, electrical, plumbing or mechanical work will require a permit, but here’s more information:
Remodeling with a Permit
When speaking with a general contractor about permits, here are some projects that will always require one or more:
Fencing Installation or Repair: When you install or repair a fence, it’s important to check with your city to see if there is a height restriction. Some cities and even suburbs have certain heights that fence height can't exceed. Be sure to have a fencing contractor check these restrictions to avoid having MAJOR headaches / corrections after the fact.
Window Installations: When you install new windows that are bigger than your old windows, a permit is required to cut holes for them. This will also include cutting holes for skylights and new doors with windows, so a window professional will need to acquire those permits.
Plumbing and Electrical Work: When installing or replacing plumbing, you will most likely need a permit. The same rule applies when installing or replacing electrical wiring
Electrical Changes: Whether it’s an outlet, switch, ceiling fan or overhead lighting. The cases where you won’t need a permit include smaller projects like repairs and light fixture installations.
Structural Changes: When you make any kind of structural changes to your home, the contractor will need to get a permit. This may include changes to the load-bearing walls, balconies, decks, porches, roofs or foundation flooring.
Heating Maintenance: If you replace the water heater, you heating contractor will need to get a permit. Changes to the ventilation system, gas and wood fireplaces and ducts will also require a permit. This does not include filter changes, motor lubrication or equipment cleaning.
Additions and Remodels: Additions, new construction, remodels, repairs, replacements, upgrades and any other additions and remodeling projects totaling $5,000 or more will require a permit. This will include detached structures like garages, sheds and platforms. Exceptions to this rule include construction that’s less than 200 square feet, as well as painting, carpeting and wallpaper.
Renovating Without a Permit
There will be some projects that won’t require a permit ahead of time, like small plumbing and electrical projects. Other projects you can do without a permit include:
Painting and wallpapering
Installing flooring like hardwood, carpeting, linoleum or vinyl tile
Minor electrical repairs
Installing new countertops
Installing or replacing a faucet
Landscaping work
Trust in the Pros
If you aren’t certain whether or not you need a permit, you should hire a professional. A pro will have the background and experience to determine if your project is extensive enough to require an inspector to check for any red flags afterward. Professionals will usually be the ones to acquire the permit, so they also know what kind of paperwork to fill out and the type of permit to obtain. Relying on a professional will allow your project to be completed in a timely manner.
Please let me know if you'd like help finding a reliable contractor, who will save you from the pitfalls of remodeling without necessary permits! I have a roster of highly capable professionals, and am happy to refer you to them – just ask!
Don't assume that all houses (including yours) are good investments — because, frankly, many houses are not. Tell me if one of these thoughts has ever crossed your mind:
"I'll live in this house for a few years, then rent it out, and then maybe sell it when it rises in value."
"I'm going to remodel big-time before I sell; I bet I'll get top-dollar."
"Renting is just throwing money away."
Not so fast. Before you start throwing a massive chunk of your income toward an untested assumption, read on. The following could save you tens of thousands in unnecessary costs.
Myth No. 1: There's No Difference Between Your Personal Home and a Great Investment Home.
Paula Pant owns five houses — yes, five. No, she's not rich, but she's a real estate investor who built a portfolio of rental properties that cover her entire cost-of-living. She's 30 years old, and she invites you to check out all the details about her real estate purchases — including the numbers — on her blog, Afford Anything.
For current Portland Real Estate advice, sales and purchases, please call or write.
The company said it will serve much of the Portland area as well as Beaverton and Aloha, starting immediately. Instacart's "personal shoppers" will pick up and deliver groceries from Whole Foods, Costco and Uwajimaya, with other stores to be added later, the company said. A coverage map will be available at the company's website.
The company sets fees according to how quickly customers want their groceries delivered. A one-hour delivery for a load of groceries costing $35 or more, according to the company website, will cost $5.99. Delivery within two hours costs $3.99. Fees are higher for orders that cost less than $35. The company also offers free deliveries under a $99 annual membership plan.
Bill Babeaux, whose title is Portland City Launcher, said more Portlanders, per capita, asked for service than residents of any other city not served by Instacart.
Quick delivery services have popped up and, often, withered away as losses mounted. The most notorious case was Kozmo, the company that sent couriers on orange scooters on errands to pick up DVDs, books and other small items and deliver them free, within an hour. It burst into national consciousness in the late 1990s with a splash of commercials and publicity, but went out of business in 2001.
Now quick-delivery services are making a comeback, with companies like Caviar, which delivers restaurant food; SpoonRocket, which delivers prepared meals; and Saucey, which delivers booze; joining Instacart in the fast-turnaround business in selected cities. And Uber, the ride-sharing service, is rumored to be preparing to enter the quick-delivery business as well.
Instacart launched in San Francisco and now also operates in Chicago, Boston, Washington, D.C., Philadelphia, New York, Los Angeles, Austin, Seattle, Denver, Atlanta and Southbury, Conn.
— Mike Francis
Cary Perkins,
Windermere Top Producer
Fun With Real Estate
Current Portland Oregon Real Estate Information,
Highlights of Portland Oregon, House Ideas
Portland Oregon Homes
Portland Real Estate, Portland Oregon Top Producer, Windermere Top Producer, Portland Realtor, Portland Homes for Sale
I've observed that there are a lot fewer agents in the office this month, as a lot of clients and their real estate brokers are on vacation. Houses in certain price points are still flying off the market with multiple offers. Homes over $1,000,000 are slower than they were in the spring. I'm preparing for new listings that will hit after labor day, or early in 2015. What does this mean for you, buyers and sellers?
The spring and early summer brought a very robust real estate market in many areas and many price points. Multiple offers became the norm in many markets and agents found themselves busier than they had been in years. The market was moving, buyers were out looking and sellers who previously couldn’t sell were finally getting the offers they needed to make a move possible. Pending home sales rose consistently and real estate was back in the media in a positive way.
However, agents in many areas may have noticed a slight slowdown in August prompting concern about whether the market was taking a turn downward. To answer this question I want to address some key things that we need to look at to answer that question.
HOUSING AFFORDABILITY INDEX
The housing affordability index is measured looking at median home prices, median family incomes and the mortgage interest rate. The higher the index, the more buying power a buyer has. As the index reduces, so does the buyer’s buying power. The recent increase in home sale prices nationally and regionally has caused the Housing Affordability Index to decline from 196.5 in 2012 to 175.8 in 2013. It is going down even further in many areas. The West Coast has been particularly affected because of the high price gains in the past 18 months.
NEW CONSTRUCTION
Even though the market has picked up, we still have not seen enough new construction development to keep up with the demand. It is still difficult for builders to get financing and although it is better than it was, it is still not where it needs to be. That is why some areas are having such dramatic price gains; there just isn’t enough inventory. In many areas we are seeing a shortage of new construction which means that prices will continue to be pushed upward if this shortage is not filled with new homes. Our new home product is built by two different types of builders: the production volume builder and the small builder. The small builder still struggles to get financing because they have not yet made up for their losses from the past economic challenges.
CONSUMER CONCERN
We have also seen recent dips in the stock market which always brings up questions and concerns for consumers, when consumers are concerned they stop buying. When consumers stop buying it creates a domino effect. As weather begins to change and kids return to school I am fully confident that the real estate market will continue to move along at a very healthy pace. Consumers will soon forget about the stock market declines and the change in the weather and they will once again settle in and put their attention back to buying or selling real estate.
WHAT THIS MEANS FOR BUYERS
Buyers who buy right now will benefit from the temporary slowdown in the market because they won’t be competing with as many other buyers. Buyers who are serious need to take advantage of this temporary distraction in the market.
WHAT THIS MEANS FOR SELLERS
Sellers who need to sell right now need to get serious about their price. “Market” priced homes ARE selling and if sellers want to sell there are plenty of serious buyers out there right now taking advantage of the timing in the market.
The real estate industry is a moving market. It expands contracts, corrects and grows. Trust that any slowdown you may be experiencing is only a very temporary “breather” that is healthy for the market to take.
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The park offers a breathtaking view of the neighboring vineyards, a pool & hot tub and outdoor lawn games for all to enjoy. Additionally, should you bring your pet along for the ride, we’re right next door to a dog park where your four legged friend can run around while you pick wild blackberries. We have cruiser bikes you can pedal over the bridge to the neighboring town of Dayton, a gateway to many of the local vineyards.
