Pending Home Sales Nudge Forward in October

Bow Tie Tom rockin' a Tuesday's Brokers OpenAccording to Realtor.com: Pending home sales were mostly unchanged in October, but shifted marginally higher after two straight months of declines, according to the National Association of Realtors®. Gains in the Northeast and West were offset by declines in the Midwest and South.

You can read the entire article by clicking here.

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Civil War Game – Ducks vs Beavers in Eugene Nov 27

Football

The in-state rivalry that I anticipate will be more grueling than any Black Friday crowd, and quite possibly, more entertaining than watching two people fighting over the last stereo on sale at 4AM. The Civil War. The Beavers roll into Eugene to face the Oregon Ducks. The Beavs have not won this matchup for eons, and maybe it’s their time….or maybe it’s not. Both teams have been tried and tested this season, and this could be the game that sends the winner to the Rose Bowl to compete for the PAC 12 Title. The Ducks are the more dominate team, but if I were a Beaver fan, I wouldn’t skimp out on the drive to Eugene. The opportunity cost of could be the experience of a lifetime. It’s college football. Anything can happen…

Thanksgiving in Wine Country Nov 27 – 29

Wine

During Wine Country Thanksgiving, more than 160 wineries and tasting rooms in the Willamette Valley open their doors for special tastings and holiday festivities over Thanksgiving weekend (Friday-Sunday), offering an opportunity to visit some of the region’s small, family-owned wineries that aren’t usually open to the public. Meet winemakers, enjoy specialty food pairings and live music, all while savoring the region’s acclaimed wines.

CLICK HERE for more information.

November ’15 National Market Update

Oregon’s Economy is at “Full-Throttle Growth”

House

As we head into the height of autumn, and the beginning of the holiday season, the overall pool of home buyers shrink due to these seasonal factors. But economic reports for Q3, combined with copious amounts of data from both the US housing and equities market over a long period of time, indicate that you should invest your savings in the real estate market NOW, the end-of-the-year, to get the greatest return on your money.

Why? Three Reasons:

#1 Saving your sanity. You don’t have to fight Black Friday crowds to save a few bucks on Xmas shopping.

2. Price appreciation in the last two months has started to moderate. According to September’s Market Action Report by RMLS, home prices continued to rise in 2015 compared to 2014. Comparing each year through September, the average sale price rose 5.9% from $333,000 to $352,500. In the same comparison, the median sale price rose 7.0% from $285,000 to $305,000. Sales slowed after the summer buying spurt with a median home price of $304,700. Inventory stayed stable at 1.9 months in, and total market time increased to 46 days. Freddie Mae increased interest rates to 3.82%; remaining within the industry standard of mortgage rate movement. But, the Federal Reserve made it clear it might increase rates by end of year. This leaves a window of opportunity for you to take advantage of low interest rates with lower home prices. You could get a bigger bang for your buck if you buy an investment property in November or December.

3. You get more return on your investment in real estate than if you invest in the stock market. Based on an analysis from Zillow, from 1975 to 2014, the S&P 500 averaged an annual return of 10.4%, while residential real estate returned 11.6% each year on average. Even though this is a small, 1.2% average return on investment (given all factors), it can result in a very big payoff as returns are compounded each and every year. Not to mention, when you own a home, you build equity and lessen your tax burden by writing off your interest on the mortgage. Overall, home prices also rose on average of 4% per year during the same time span mentioned above.

If you are thinking about investing in real estate, give me a call. I’m happy to help you find a property or answer any questions you may have.

Northwest Filmmakers Festival

The Northwest Filmmakers’ Festival presents features, documentaries and short films by independent Northwest film and video makers. The offerings are chosen from more than 400 entries by a prominent member of the independent film community. Past judges have included local luminaries Gus Van Sant, Matt Groening and Todd Haynes. Founded in 1973, the festival attracts more than 6,000 attendees annually.

CLICK HERE for more information.