Now that the end of 2022 is within sight, you may be wondering what’s going to happen in the housing market next year and what that may mean if you’re thinking about buying a home. Here’s a look at the latest expert insights on both mortgage rates and home prices so you can make your best move possible.
Mortgage Rates Will Continue To Respond to Inflation
There’s no doubt mortgage rates have skyrocketed this year as the market responded to high inflation. The increases we’ve seen were fast and dramatic, and the average 30-year fixed mortgage rate even surpassed 7% at the end of last month. In fact, it’s the first time they’ve risen this high in over 20 years (see graph below): Read more
Fun Things to do this week…
This Festival is one of the largest holiday celebrations in the Northwest, drawing thousands of attendees annually who happily complete their holiday shopping early.
When: Nov 11 – Nov 13
Where: Westside Commons
801 NE 34th Ave Hillsboro, Oregon 97124
“The Oregon Zoo is proud to offer free admission on Nov. 11 for military members, veterans and their families. Complimentary admission includes up to six tickets per active military personnel/veteran
When: Fri Nov 11, 8:30 am
Where: Oregon Zoo SW Portland
4001 SW Canyon Rd. Portland, OR 97231
THIS WEEKS REAL ESTATE UPDATE
Numbers help tell a story.
Numbers are powerful, especially when it comes to real estate! Whether you are assess whether it’s a good time to buy, sale or invest these numbers can be very valuable in determining offers or best sales price! PLEASE FEEL FREE TO REACH OUT WITH ANY QUESTIONS
Portland, OR 97230
Wed Nov 09 2022
This week the median list price for Portland, OR 97230 is $449,900 with the market action index hovering around 42. This is less than last month’s market action index of 43. Inventory has increased to 87. Click here to stay informed with the Portland market!
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller’s Market
In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.
Portland, OR 97220
Wed Nov 09 2022
This week the median list price for Portland, OR 97220 is $450,000 with the market action index hovering around 39. This is less than last month’s market action index of 44. Inventory has increased to 74. Click here to stay informed with the Portland market!
Fairview, OR 97024
Wed Nov 09 2022
This week the median list price for Fairview, OR 97024 is $515,000 with the market action index hovering around 41. This is less than last month’s market action index of 48. Inventory has increased to 17. Click here to stay informed with the Fairview market!
Troutdale, OR 97060
Wed Nov 09 2022
This week the median list price for Troutdale, OR 97060 is $499,900 with the market action index hovering around 47. This is less than last month’s market action index of 50. Inventory has increased to 29. Click here to stay informed with the Troutdale market!
Gresham, OR 97080
Wed Nov 09 2022
This week the median list price for Gresham, OR 97080 is $533,450 with the market action index hovering around 40. This is less than last month’s market action index of 42. Inventory has increased to 130. Click here to stay informed with the Gresham market!
Portland, OR 97236
Wed Nov 09 2022
This week the median list price for Portland, OR 97236 is $499,950 with the market action index hovering around 37. This is about the same as last month’s market action index of 37. Inventory has decreased to 83. Click here to stay informed with the Portland market!
Portland, OR 97211
Wed Nov 09 2022
This week the median list price for Portland, OR 97211 is $585,000 with the market action index hovering around 45. This is less than last month’s market action index of 47. Inventory has increased to 80. Click here to stay informed with the Portland market!
The Majority of Americans Still View Homeownership as the American Dream
Homeownership Wins Over Time [INFOGRAPHIC]
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RECIPE OF THE WEEK!
Butternut Squash Mac and Cheese
Ingredient Checklist
For the chicken fried steak
- 1 1/2 c. whole milk
- 2 large eggs
- 2 c. all-purpose flour
- 2 tsp. seasoned salt
- Freshly ground black pepper
- 3/4 tsp. paprika
- 1/4 tsp. cayenne pepper
- 3 lb. cube steak (tenderized round steak that’s been extra tenderized)
- Kosher salt
- 1/2 c. canola or vegetable oil
- 1 tbsp. butter
For the gravy:
- 1/3 c. all-purpose flour
- 4 c. whole milk
- 1/2 tsp. seasoned salt
- Freshly ground black peppe
- Mashed potatoes, for serving
Instructions Checklist
- For the steak: Begin with setting up an assembly line of dishes. Beat the milk with the eggs in one; the flour mixed with the seasoned salt, 1 1/2 teaspoons black pepper, paprika and cayenne in another; and the meat in a third. Then have one clean plate at the end to receive the breaded meat.
- Work with one piece of meat at a time. Sprinkle both sides with kosher salt and black pepper, then place it in the flour mixture. Turn to coat. Place the meat into the milk/egg mixture, turning to coat. Finally, place it back in the flour and turn to coat. Place the breaded meat on the clean plate, then repeat with the remaining meat (dry mixture/wet mixture/dry mixture).
- Heat the oil in a large skillet over medium heat. Add the butter. Drop in a few sprinkles of flour to make sure it’s sufficiently hot. When the butter sizzles immediately, you know it’s ready. (It should not brown right away, if it does, the fire is too hot.) Cook the meat, 3 pieces at a time, until the edges start to look golden brown, about 2 minutes each side. Remove the meat to a paper towel-lined plate and keep them warm by covering lightly with another plate or a sheet of foil. Repeat until all the meat is cooked.
- After all the meat is fried, pour off the grease into a heatproof bowl. Without cleaning the skillet, return it to the stove over medium-low heat. Add 1/4 cup of the grease back to the skillet and allow it to heat up.
- For the gravy: When the grease is hot, sprinkle the flour evenly over the grease. Using a whisk, mix the flour with the grease, creating a golden-brown paste. Add more flour if it looks overly greasy; add a little more grease if it becomes too pasty/clumpy. Keep cooking until the roux reaches a deep golden brown color.
- Pour in 3 to 4 cups milk, whisking constantly. Add the seasoned salt and black pepper to taste and cook, whisking, until the gravy is smooth and thick, 5 to 10 minutes. Be prepared to add more milk if it becomes overly thick. Be sure to taste to make sure the gravy is sufficiently seasoned.
- Serve the meat next to a big side of mashed potatoes. Pour gravy over the whole shebang!
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