Some Highlights
- Downsizing is a popular choice for homeowners when they retire or when their needs change, but with inflation still high, it’s also a way to reduce costs.
- Downsizing could help cut down on your expenses and your equity can fuel your move.
- If you’re thinking about moving to a smaller home, let’s connect to go over your housing goals and look at your options on our local market.
- Single-family housing starts rose 18.5% in May to an annual rate of 997,000 units. That’s the strongest pace in the past twelve months and is 21.4% stronger than the average start rate during 2015-19.4
- The economy expanded at a 2.0% annual rate during the first quarter, according to revised figures from the Commerce Department. That’s an improvement from the 1.3% estimate for growth during the quarter provided in late May.5
- According to the GDPNow estimate prepared by the Atlanta Federal Reserve Bank, the economy is growing at a 1.8% rate during the second quarter. That’s not an official forecast, but a consideration of the economy’s likely growth rate, given the economic data already available for the quarter. The first official (but preliminary) estimate of GDP growth for the second quarter will be released on July 27.6
- The daily yield on the 10-year Treasury has remained in a tight band within a few basis points of 3.75% during June. The daily yield on Wednesday, June 28, was 3.71%.7
- The average mortgage rate in the week ending June 29 was 6.71%, up four basis points from the previous week. The rate averaged 6.71% in June, up from May’s 6.43%. Over the past year, the rate has ranged from 4.99% (August 4) and 7.08% (October 28, November 10). The rate quoted is the average of 30-year fixed-rate conforming mortgages submitted to Freddie Mac.
Fun Things to do this week…
Shady Pines Festival
Portland’s community radio station Shady Pines’ second annual music festival will be packed with camping, swimming, food, arts & crafts, late-night jams, and plenty of sunshine.
When: Every day, July 13–16, 4PM
Where: Red Mud Ranch Oregon City | 17689 S. Deininger Rd Oregon City, OR 97045
PDX Craft Beer Pride Week
Hey, queers who love beers—Migration Brewing has teamed up with a number of local breweries and beer bars to throw the first-ever PDX Craft Beer Pride Week. Each night, a different participating venue will host an evening of music, beer, and food specials. Festivities will include drag bingo, Migration’s Colors of Love West Coast Pilsner release, and more. by Julianne Bell.
When: Every day, through July 16
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 July 12 2023
This week the median list price for Portland, OR 97230 is $475,000 with the market action index hovering around 66. This is about the same as last month’s market action index of 66. Inventory has increased to 37.
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 July 12 2023
This week the median list price for Portland, OR 97220 is $484,900 with the market action index hovering around 64. This is less than last month’s market action index of 68. Inventory has increased to 37.
Fairview, OR 97024
Wed July 12 2023
This week the median list price for Fairview, OR 97024 is $627,363 with the market action index hovering around 36. This is less than last month’s market action index of 37. Inventory has held steady at or around 14.
Troutdale, OR 97060
Wed July 12 2023
This week the median list price for Troutdale, OR 97060 is $599,990 with the market action index hovering around 56. This is less than last month’s market action index of 60. Inventory has increased to 17.
Gresham, OR 97080
Wed July 12 2023
This week the median list price for Gresham, OR 97080 is $556,422 with the market action index hovering around 47. This is less than last month’s market action index of 48. Inventory has increased to 108.
Portland, OR 97236
Wed July 12 2023
This week the median list price for Portland, OR 97236 is $599,900 with the market action index hovering around 50. This is less than last month’s market action index of 53. Inventory has decreased to 35.
Portland, OR 97211
Wed July 12 2023
This week the median list price for Portland, OR 97211 is $630,000 with the market action index hovering around 67. This is an increase over last month’s market action index of 63. Inventory has increased to 39.
Reasons Your Home May Not Be Selling
When it comes to selling your house, you want three things: to sell it for the most money you can, to do it in a certain amount of time, and to do all of that with the fewest hassles. And, while the current housing market is generally favorable to sellers due to today’s limited housing supply, there are still factors that can cause delays or even prevent a house from selling. Read more
Two Questions To Ask Yourself if You’re Considering Buying a Home
If you’re thinking of buying a home, chances are you’re paying attention to just about everything you hear about the housing market. And you’re getting your information from a variety of channels: the news, social media, your real estate agent, conversations with friends and loved ones, overhearing someone chatting Read more
Have you heard of HOMEBOT?
Find out everything you need to know about your homes current value here! Learn more
Are you thinking about selling your home?
FIND OUT HOW MUCH YOUR HOME IS WORTH?
RECIPE OF THE WEEK!
Romesco de Peix
Ingredient Checklist
- 1 tbsp Sibeiho OMG! Sambal™
- 1 tbsp honey
- 2 tbsp soy sauce
- 4-6 pcs bone-in, skin on chicken thighs (this can be adjusted to your favorite chicken part; the cooking time may vary)
Instructions Checklist
- In a bowl, mix together the Sibeiho OMG! Sambal™, honey, and soy sauce. Add chicken and coat well with the marinade. Cover and refrigerate for at least 30 minutes or up to one day.
- Heat grill to medium high heat (around 350°F). When grill is at the desired temperature, place chicken, skin side down, onto the grill. Cook for about 4-5 minutes on each side until grill marks appear. Keep the grill lid closed except when turning the chicken.
- Turn down the heat to medium low, then cook the chicken for 3–5 minutes on each side until done. The internal temperature should be 165°F.
- Let chicken rest for 5–10 minutes before serving to let the juices settle. Transfer to a platter and serve hot off the grill or at room temperature. You can eat it by itself or with some steamed rice.
The Classic Champagne Cocktail
Indulgents
- 2 tbsp. sugar
- Kosher salt
- 2 large lemons
- 6 lb. seedless watermelon, rind removed, cut up
Instructions Checklist
- In small saucepan, combine sugar, 1/4 cup water, and 1/4 tsp salt and simmer until sugar has dissolved, 2 to 3 minutes. Remove from heat. Finely grate zest from lemons and squeeze 1/2 cup juice. Stir zest and juice into syrup.
- In blender, working in batches, puree watermelon with lemon syrup. Pour into metal loaf pan or square pan and freeze until set, about 8 hours.
- When ready to serve, using a fork, scrape surface into large flakes.
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