The Economy is Improving; Good News for the Housing Market.
Image Credit: Washingtonpost.com
June marks the year’s halfway point. It’s a good time to reflect and analyze the latest market data to determine where the market is headed for the remainder of the year.
According to a report released by Fannie Mae early June, the 2015 Housing Marketing has undergone some positive developments since the beginning of the year. Moderate rebound in economic growth has been driven by continued strengthening in employment and household income.
After a slow start, existing-home sales rose 5.1% in the second quarter to an adjusted annual rate of 5.35 million homes. According to the National Association of Realtors, sales have increased year-over-year for eight consecutive months and are 9.2% above a year ago (4.90 million). First-time home-buyers attributed to these numbers as the result of many economic factors including; low mortgage rates, job growth coupled with low unemployment rates, and wage growth.
Average home prices climbed 7.9% over the past 12 months to $228,700, about $1,700 shy of the July 2006 peak. The higher home prices will continue to climb if inventory does not pickup to match demand. Currently, the market has just 5.1 months’ supply of homes, versus an average of six months in a healthy market.
After two wonderful years, and starting my real estate career at Real Estate Network Group, I’ve decided to move my business to Inhabit Real Estate in SE Portland.
Besides being closer to home, and located in the hot new Division neighborhood in SE Portland, Inhabit’s vision as a forward-thinking, locally-owned, company aligns with the future I have set for my own real estate business. They provide tools, professional development opportunities, and have a forward-thinking, modern approach to marketing that allows me to focus on on the individual, professional relationships I have with each of my clients.
My new office is located at 3121 SE Division Street, Portland, 97202. It has a chic, urban feel right in the heart of the neighborhood. One of my favorite things about the new office is the all-glass garage door feature that opens to a patio perfect for hosting client appreciation events. Stay tuned! In the meantime, stop by and say hello. Check out my new office.
The Waterfront Blues Festival starts TODAY! This Portland hallmark event has become a treasured tradition for locals and visitors alike.
More than a quarter century old and going strong, the nation’s second largest celebration of blues, rock ‘n’ roll and soul takes place right here in Portland.
It’s four stages, 100 acts, five cruises, two after-hours parties, dance competitions and July 4th fireworks draws more than 100,000 people, and all proceeds support the Oregon Food Bank. This is the organization’s largest fundraising event.
This year’s lineup is one for the record books! Acts range from the legendary Buddy Guy and Greg Allman, to the 17-year-old YouTube sensation Christone “Kingfish” Ingram, to Big Bad Voodoo Daddy, Galactic with Macy Gray, Dave & Phil Alvin, Charmaine Neville, Allen Toussaint and The Paladins.
Fireworks on Saturday, July 4th
The largest fireworks show in Oregon (11,800 shots in 22 minutes) will be at the Waterfront Blues Festival, scheduled to go off at 10 p.m. Not going to the Blues Fest? There are better places for viewing. Show up early to get a spot at one of these locations: Mount Tabor, Council Crest, Rocky Butte, Powell Butte, Pittock Mansion, Noble Rot, On Deck Sports Bar, Portland City Grill, Departure at the Nines, Sellwood Park, the Skidmore Bluffs, the Northeast Marine Drive docks, The Dock.
Image Credit: Oregonbrewfest.com
Oregon Brew Fest – July 22nd – 26th The Oregon Brewers Festival is one of the nation’s longest running craft beer festival. There will be a flavor for every kind of beer drinker among the 90 different kinds poured at this five day event. The festival provides an opportunity to sample and learn about a variety of craft beers from around the world. There will be live music, beer-related memorabilia displays, home brewing demonstrations, and an assortment of foods.
For more information, CLICK HERE.
Image Credit: Mississippiave.com
Mississippi Ave Street Fair – Saturday, July 12th The most jammed-packed street fair of the summer, The Mississippi Street Fair is fun and celebrates the local community of businesses, organizations and residents of the Boise/Humboldt neighborhood with lots of food, local craft vendors, and a great lineup of local bands commissioned by Mississippi Studios. CLICK HERE for more information about the Mississippi Street Fair
Image Credit: Thebigfloat.com
The Big Float – Sunday, July 26th Give the Willamette River a big watery hug at this fifth annual Willamette River event, benefiting the Human Access Project. The is a celebration of our river, and the idea is to get 3,000 Portlanders to float and enjoy the river and acknowledge that it’s is safe for summer swimming and other recreational uses and should be preserved. The Float will launch from “Poet’s Beach” under the Marquam Bridge and end at the Tom McCall Bowl with a summer beach party.
For more information and registration, CLICK HERE.
Did you know our Willamette River has a song? CLICK HERE to listen.
Image Credit: Portlandoregon.gov
FREE Movies in the Park The 2015 season of Portland Summer Movies in the Parks starts July 8th and runs through September 7th. There are 25+ films playing all over the city. Pre-entertainment by local musicians begins at 6:30 p.m. with FREE popcorn. Movies start at dusk. CLICK HERE for the 2015 Summer Movies in the Parks Schedule.
July Dates
July 1: First day of legal marijuana in Oregon CLICK HERE for what you need to know. July 4:Independence Day
The number one priority of the summer is staying cool. You should start the season by having your air condition (AC) unit tuned up in order to inspect for and prevent unexpected emergencies. An AC unit tune up involves inspecting refrigerant levels, which is important to keep your AC running cool and your electric bills low. Make sure the fan is running properly and the coils are cleaned. Also inspect for faulty wiring that could promote potential fires. Don’t forget, there’s always the option to use a plug-in fan to save energy and money for lower electric bills.
Introducing my new weekly post, Tom’s Top Ten on Tuesday. Every Tuesday, I will present my top ten favorite on something. The categories are random and fun, so stay tuned! You may learn something cool! Or not. This could be your Tuesday time-waster.
This past Sunday was the “official” first day of summer. Ahh the summer. There’s a youthful spirit about the season. When I was a kid, every day was like a scene from the movie, The Sandlot – hanging with buddies, staying up late, campouts in the backyard, chasing summer love, embarking on new adventures. As an adult, summer is one of the busiest times for me as a real estate agent. I love showing homes during this time of year. Homes look better with yards in full bloom, and the city is inviting for those moving to Portland. Judging by the weather this week, this summer is going to be a hot one!
Here are my Top Ten places to cool down and escape the summer heat:
1.Get Naked and Go Beachin’.
Sauvie Island Beaches – Reeder, North Unit, Walton, Collins and Warrior Point public beaches are located along the island’s north/east coast (Columbia River). Stop by Bella Farms on your way home and do a little berry picking.
2. It’s 5 o’Clock Anywhere There’s a Patio.
Rontoms Covered Patiois large, airy and provides the perfect 60s-style shield from the sun. Sit back, relax and enjoy a cocktail mixed with one of their many locally produced liquor choices. Plus, it’s the perfect place to take your out-of-town summer guests that want to experience the Portland ‘hipster’ vibe. Rontons does Sunday Funday up right with FREE concerts featuring the best local and touring artist.
Rontoms Patio
3. Go Ghost Hunting.
Heat rises, so the best way to get really cool is to go down, down, underground down, to the Portland Shanghai Tunnels in Old Town. Take a guided tour of Portland’s dark history when able-bodied men were captured on the Waterfont and sold to ship captains for work and no pay. Walk through a dark labyrinth connecting catacombs used by these unscrupulous individuals who also captured women and sold them to slavery.
This is one of the most haunted places in the U.S. confirmed by many unexplainable experiences. Travel Channel uncovered concrete evidence of paranormal activity when filming an episode of Ghost Adventures in the Tunnels. People visit from all over the world to encounter the Ghost of Nina. Is she really there?
For tour information, CLICK HERE. Remember, if the temperature significantly drops while your down there, that could only mean one thing…
A room in the Shanghai Tunnels photographed by the Salem Spirit Hunters. Look closely. Do you see what I see?
4. Run Through Water Fountains in Your Clothes.
A frolic in Salmon Street Springs at Waterfront Park is always a good idea on a hot summer day. Take the kids or let your inner child run free through the arch-shaped streams of water. To access a self-guided walking tour featuring 15 downtown Portland “splash pads”,CLICK HERE. The artwork you’ll encounter is an added bonus!
5. Find a New Hobby Involving Bad Movie Cliches
Avengers: Age of Ultron. Pitch Perfect 2, and Fast and the Furious 7. Jurassic World. The Blockbusters, the sequels to sequels, and the multi-million-dollar box office record breaker that hit theatres last week – love it or hate it, but summer movie season is upon us, and there is no better way to cool off than in an air-conditioned theatre. If you’re not into the air-conditioned multiplexes (or the overinflated prices), luckily, our little city is home to many independently owned and operated theatres that offer a variety of movie genres. You can still get your cinema fix and even discover a cool new part of town.
The Laurelhurst Theatre is cheap entertainment ($4 general admission) and shows mostly independent films, Hollywood second-runs, documentaries and cult-classics. It features four screens, showing eight movies at a time.
Living Room Theaters in downtown Portland is an experience for the true indie film lover. It shows mostly independent movies, foreign films, and limited-release documentaries. The chic lounge and snack bar serves gourmet food and has a full bar.
If movie night takes you to the historic Hollywood Theatre, you might leave with a new hobby. B-Movie Bingo! It’s a bingo card that evolved from bad movie clichés in the 80s. The same bingo card is applied for each movie in the series. It’s genius and funny when you realize every 80s movie included multiple mustached men. B-Movie Bingo is the second Tuesday of the month. Invasion USA is scheduled for Tuesday, July 7th at 7:30 p.m. I can’t think of a better movie than a Chuck Norris film for the B-Movie Bingo neophyte.
Check out this YouTube for a better explanation of what you’re getting into
6. Go Floating in Space.
As an alternative to mediating in a hot outdoor park, try floating in an indoor pod of water, suspended by 1000 pounds of salt! Schedule a 90-minute Float at the Float Shoppe in NW Portland or Mudra Massage on NE Broadway. It’s not only refreshing, but it’s a new method of self-discovery and relaxation. After 30 minutes in the tank, your mind will wonder into the theta state – the mysterious state between consciousness and sleep where the mind is more imaginative and inspiring than actual sleeping. Floating makes the body so relaxed that it rids us of our daily stresses by releasing cortisol into the bloodstream, causing an endorphin-like effect and happiness.
The Willamette Valley Jetboatsare open for business in their 18th summer season. They were the very first company to give jet boat tours on the Willamette River, and they are the very best. Gather 129 of your best buds and book the Downtown Bridge & Harbor Tour. Once aboard these open-aired boats, get ready for take off because it’s like strapping yourself to a rocket!
All the jet boats are powered with THREE clean burning diesel powertrain engines that put out almost 1000 horsepower and over 1500 pounds of torque. The route takes you all the way down the Willamette River, to the St. John’s Bridge, turning back around at the ships in the shipyard to return to OMSI, and all within ONE HOUR. A quick and scenic tour filled with historic bridges, splash and FUN.
8. Take the Path Less Traveled to a Hiker’s Utopia.
Every Oregon summer brings new opportunities for outdoor adventures. If you’re looking for a new hike to try, I know a short, but stunning waterfall hike to the Gorge’s Oneonta Falls. Even on a scorching day, this hike will cool you down because the trail is the river. Start your journey at the Oneonta Bridge, cross over the gridlock of logs and on to the mossy walls. Then Into the river you go, becoming chest-deep, as you get closer to the falls. The water part is chilly but not even a mile, and the spectacular scene at the end is worth the “wade”. Only a 37-minute drive from Portland, and not many locals knows of this place. It might be because they can’t find the trail…
Moss covered walls to the Falls
9. Peek Behind Nature’s Curtain.
When temperatures rise, Portlanders love day tripping in search of that perfect swimming hole. Half the fun is getting lost. The joy is in the journey, not the destination. But when the path ends at a curtain of thick old-growth fir and reveals the edge of Buck Lake’s emerald green waters, the destination never looked better. It is a lake so serene and secluded with crystal clear waters your able to see every rock, log and fish beneath the surface. This hidden gem is only 70 miles from Portland! The only thing that makes Buck Lake better is bringing a raft (see featured picture at top).
The emerald green waters of Buck Lake revealed
10. Become a Strategic Fan Master.
Just like life, the summer can take you to many unexpected places, but love always brings you home, whether you have AC or not. My home is my own private urban oasis. It’s the place I want to be the most, but like many homeowners and apartment renters in Portland, I don’t have AC. By the end of this week, we will be in the 100s, and it’s not even July! Here are some tips to stay cool in your own home this summer:
The Strategic Window Schedule – temperatures are mostly mild in the Northwest, even during hot 90-100 degree days. Even when it’s 80 degrees, temperatures drop at night to 50s or low 60s. Open your windows at night and let the cool air in. In the morning, immediately close the windows and draw the blinds or curtains. This will trap the cold air in during the day and keep the sun from shining in.
Grilling Not Baking – Turning your oven on when it’s already hot outside will quickly raise the temperature of your home, especially if you live in an apartment. Grill more or make food that doesn’t require much heat like salads or cook a crockpot meal that requires low heat.
Buy a Fan or an AC unit – Don’t wait until temperatures reach 100 to head to Freddy’s. You’ll be out of luck! Plan ahead. If you buy an AC unit, window air conditioners are more powerful and efficient. Single fans that sit on the ground or on a table and blow air directly on you help sweat evaporate and lower your body temperature. Oscillating fans are great for circulating in a single room or area of your home. Combine multiple types of fans to find the right cooling combination for you.
Portland welcomes the summer season with a sea of naked bike riders! This year’s World Naked Bike Ride takes place on June 27th. Thousands and thousands of naked people will ride their bikes through the streets of Portland. It’s a lot of fun and FREE for all!
The World Naked Bike Ride is an annual event that began in 2004 as a protest against society’s dependence on pollution-based transportation. Since then, it has grown in large scale and scope. Today, it’s held in more than 75 different cities in over 20 countries, but Portland’s is the LARGEST.
Welcome to a sizzling summer. The Portland real estate market is hot, hot, hot! We are experiencing an active market with home prices soaring by 3%-16% depending on your area of town. According to Trulia.com, the median sales price for homes in Portland has increased to $330,000 based on 2,834 homes sales from February to May.
According to data pulled from Redfin, the Portland’s East Side is home to some of the hottest neighborhoods in Portland. Historically low property values have kept East Side home prices comparatively low. But with the shortage of inventory, homes in this area are in high demand.
Image Credit: Safeway Waterfront Blues Festival
Image Credit: PDXPipline
Tom Kerr Homes 
