PORTLAND METRO WEEKEND PLANNER

JULY 26-28, 2019

POLO NOIR
SAT – Raise a glass to the athletes and horses during Polo Noir, listen to live Grammy-winning music acts, and enjoy local wine.

MOVIES ON THE ROOF
THROUGH SUN – Top Down Rooftop Cinema caters music, cocktails, beer, BBQ, and films at dusk. Bring a chair, pillow, or blanket to enjoy a night of film.

HAWAIIAN FESTIVAL
THROUGH SUN – Attend workshops, try hula dancing, participate in a 5K, or enjoy delicious food at the four-day Ho’Ike Hawaiian Festival.

CONCERTS IN THE PARK
THROUGH AUG 31 – Listen to live music in Portland parks, bring a blanket or chair and share a meal with family or friends.

WASHINGTON COUNTY FAIR
THURS-SUN – Head to the Washington County Fair and enjoy live music by popular artists. Enjoy carnival rides, meet farm animals, and enjoy carnival food.

MUSIC FESTIVAL
FRI-SAT – Head to Lebanon for Guitars Under the Stars at Cheadle Lake. Bring a tent, camp, and enjoy a night under the stars!

PINOT NOIR
FRI-SUN – The International Pinot Noir Celebration is held at Linfield College. Savor local wines, taste bites from local chefs, and tour vineyards.

RIVER RHYTHMS
THROUGH AUG 8 – Don’t miss live music at Monteith Riverpark every Thursday. Enjoy food vendors and children’s crafts before the concert.

MUSIC FESTIVAL
FRI-SUN – The Northwest World Reggae Festival features Roots Reggae music, craft booths, organic food booths, and more! Camp at the foothills of the Cascades with a stage featuring artists from 6 countries.

SHAKESPEARE IN THE PARK
THROUGH AUG 25 – Watch 17 different plays outdoors during the Original Practice Shakespeare Festival.

MESMERICA 360
THROUGH AUG 31 – A light show mixed with music and 3D visually hypnotic animated art displays a transcendent experience at the immersive planetarium at OMSI. 

PIONEER SQUARE MOVIES
SAT – Head to Pioneer Courthouse Square for Flicks on the Bricks, a film series at dusk, followed by live music.

OMSI EVENT
ONGOING – OMSI takes a behind the scenes glance at Pixar creations. Experience the science, technology, art, and concepts by Pixar artists for award-winning films.

HISTORIC CHINATOWN
ONGOING – Head to the Portland Chinatown Museum for a look beyond the gate. This exhibit uses rare objects and visuals to explain the history and old tales of Portland’s Historic Chinatowns.

VANCOUVER METRO EVENTS 

PAINT NIGHT
SAT – Paint a summer scene or moon-lit nights with great conversation and wine at the Vancouver Art Space.

MOVIES IN THE PARK
FRI – Bring a lawn chair to the park and enjoy Jurassic World: Fallen Kingdom on the big screen at Endeavour Park.

DUTCH BROS PAINT
SAT – Head to a participating Dutch Bros for a morning cup of brew, and participate in a canvas paint class.

SUMMER CONCERTS
SUN – Three Brothers Vineyard hosts a summer of tribute bands! Don’t miss a tribute to Earth, Wind, and Fire.

VANCOUVER FARMERS MARKET
ONGOING –  The Vancouver farmers market features local fresh produce and products.

MOVIES OPENING THIS WEEKEND

• Once Upon A Time in Hollywood
• The Ground Beneath My Feet
• Honeyland
• Mike Wallace Is Here
• See You Soon
• Tel Aviv on Fire

www.bhhsnw.com

The post Portland Metro Weekend Planner: July 26-28, 2019 first appeared on Pacific Northwest Real Estate Blog.

Media Home Prices, Single Family Homes, and Builder Confidence Reach New Heights

Median home prices reached a new peak during the second quarter of 2019, up 6.4% from the same quarter prior year and 10.8% from last quarter, respectively. ATTOM Data Solutions also reported This Week in Real Estate that U.S. homeowners who sold in the second quarter of 2019 realized an average home price gain since purchase of $67,500, up from an average gain of $57,706 in Q1 2019 and up from an average gain of $60,100 in Q2 2018. The average home seller gain of $67,500 in Q2 2019 represented an average 33.9 percent return as a percentage of the original purchase price. Below are a few highlights from the third week of July that influence our business:

Single-Family Starts Expand in June. According to estimates from the U.S. Housing and Urban Development and Commerce Department, single-family starts improved in June, consistent with the recent stabilization of the NAHB/Wells Fargo Housing Market Index (HMI). Single-family starts increased by 3.5% to a 847,000 seasonally adjusted annual pace in June. However, total housing starts were down approximately 1% (1.253 million annual rate) due to a decline in apartment construction. Multifamily starts declined 9.2% to a still-strong 406,000 annualized rate after an elevated reading in May. On a year-to-date basis, single-family starts are 4.9% lower than the first six months of 2018. NAHB’s forecast and the forward-looking HMI suggest that future data will show stabilization followed by slight gains due to recent declines in mortgage interest rates. However, single-family permits continued to be soft, with just a slight increase to an 813,000 annualized rate. Single-family permits are down 6.1% on a year-to-date basis. However, the number of single-family units authorized but not under construction declined in June to 85,000 units, down from 90,000 a year ago and a potential signal of additional permit growth ahead. Single-family units authorized but not under construction reached a recent high of 103,000 in December. We expect additional single-family growth, as areas beyond the exurbs respond to for-sale housing demand and ongoing healthy labor markets. The next quarterly edition of the HBGI will report on such conditions. On a regional and year-to-date basis, single-family starts are down 13.6% in the Northeast, 13.4% in the West, 8.3% in the weather-challenged Midwest (but improving) and up 1% in the South – the only region with net gains. As of June 2019, there were 519,000 single-family homes under construction. This is roughly flat from a year ago.

Builder Confidence Holds Firm in July. Builder confidence in the market for newly-built single-family homes rose one point to 65 in July, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This marks the sixth consecutive month that sentiment levels have held at a steady range in the low- to mid-60s. Builders report solid demand for single-family homes. However, they continue to grapple with labor shortages, a dearth of buildable lots and rising construction costs that are making it increasingly challenging to build homes at affordable price points relative to buyer incomes. All the HMI indices inched higher in July. The index measuring current sales conditions rose one point to 72, the component gauging expectations in the next six months moved a single point higher to 71 and the metric charting buyer traffic increased one point to 48. Looking at the three-month moving averages for regional HMI scores, the South moved one point higher to 68 and the West was also up one point to 72. The Northeast remained unchanged at 60 while the Midwest fell a single point to 56.

U.S. Median Home Prices Reach a New Peak in Q2 2019. ATTOM Data Solutions released its Q2 2019 U.S. Home Sales Report on Thursday, which shows that U.S. single-family homes and condos sold for a median price of $266,000 in the second quarter, up 10.8 percent from the previous quarter and up 6.4 percent from a year ago – reaching a new median home price peak. Meanwhile, the report also shows that homeowners who sold in the second quarter had owned an average of 8.09 years, reaching a new peak, up 3 percent from last quarter and up 4 percent from Q2 2018. Homeownership tenure averaged 4.21 years nationwide between Q1 2000 and Q3 2007, prior to the Great Recession. “As warmer weather brings a rush of house hunters to the market, the latest spike in median home prices marked the largest quarterly increase since the second quarter of 2015 and the third biggest increase since the market started climbing out of the Great Recession in 2012,” said Todd Teta, chief product officer at ATTOM Data Solutions. “However, in looking at historical trends, the second quarter of every year has always shown a quarterly increase, going as far back as 2005. So, with mortgage rates dipping to new lows, it’s no surprise that people were wanting to buy a home, even if prices were at their peak. We expect to see milder home prices in the coming quarters.” U.S. homeowners who sold in the second quarter of 2019 realized an average home price gain since purchase of $67,500, up from an average gain of $57,706 in Q1 2019 and up from an average gain of $60,100 in Q2 2018. The average home seller gain of $67,500 in Q2 2019 represented an average 33.9 percent return as a percentage of the original purchase price. Among 149 metropolitan statistical areas analyzed in the report, those with the highest average home seller returns in Q2 2019 were San Jose, California (85.0 percent); San Francisco, California (71.6 percent); Seattle, Washington (65.6 percent); Salem, Oregon (62.3 percent); and Salt Lake City, Utah (60.7 percent). All-cash sales represented 25.0 percent of all single-family and condo sales in Q2 2019, down from 27.7 percent of all sales in the previous quarter, and down from 26.9 percent of all sales in Q2 2018.

The post Median Home Prices, Single Family Homes, and Builder Confidence Reach New Heights first appeared on Pacific Northwest Real Estate Blog.

CENTRAL OREGON WEEKEND PLANNER

JULY 19-21, 2019

BIG LAWN MUSIC SERIES
FRI – Take a drive out to Suttle Lake Lodge for live music on the lawn with great food and drink offerings and scenic surroundings.

PINE HOLLOW CAR SHOW
FRI-SUN – Head to Pine Hollow Cruise-In for a day of classic cars, motorcycles, raffles, a chili cook-off, food and drink specials, and more!

KAYAKING, PADDLEBOARDING, CANOEING
THROUGH AUG 30 – Head to the Deschutes River for a tour of Tumalo Creek on a rented device. View the crystal blue waters in the middle of the Deschutes National Forest.

SUNSET DINNERS
THROUGH SEPT 7 – Mt. Bachelor hosts stunning views for a romantic sunset dinner. Enjoy an eight-course meal with friends or family and end your night with a moonlight chairlift ride down the Mountain.

GARDEN TOUR
SAT – Walk through six beautiful gardens in the Culver/Madras area and enjoy local grub.

HIGH DESERT CLASSIC
THROUGH SUN – The High Desert Classics celebrates the athleticism of horses with six show rings, vendor booths, and food trucks.

SOLAR SYSTEM OUTING
FRI – The Oregon Observatory hosts a deep dive into space, with a tour of the Earth, Sun, and Moon.

GLOW BALL GOLF
THROUGH AUG 28 – Glow all night at Sunriver Resort with glowing golf balls, a putter, and fun time with the family.

PET BENEFIT
SAT – Redmond’s American Legion Park hosts a family-friendly event benefiting local shelters and rescues. Attend an IPA tasting, listen to live music, and say hello to adoptable furry friends!

SISTERS FARMERS MARKET
SUN – Head to the small town of Sisters for a plethora of local produce, handcrafted goods, and wellness demos.

MUSIC ON THE WATER
SAT – Elk Lake Resort hosts a summer music series sponsored by Boneyard Beer and Crater Lake Spirits. Float on the lake or sit in front of the stage and enjoy live music.

TURF TUNES
SUN – Sunriver’s SHARC hosts free fun and live music at the Amphitheater. Bring a blanket or a low chair and enjoy vendor creations and local produce at the farmer’s market.

SATURDAY MARKET
ONGOING – Browse local artists and produce at the Saturday Market, running through Labor Day.

BIKE PARK OPENING
ONGOING – The Mt. Bachelor Bike Park offers 13 miles of downhill trails and different options for various skill levels.

LIVE MUSIC
ONGOING – The Volcanic Theatre and Pub hosts live music that’ll move you. Check their calendar for live theatre and movies as well!

MOVIES OPENING THIS WEEKEND

• The Lion King
• At War
• Between Me And My Kind
• David Crosby: Remember My Name
• Rosie
• Supervised

www.bhhsnw.com

The post Central Oregon Weekend Planner: July 19-21, 2019 first appeared on Pacific Northwest Real Estate Blog.

PORTLAND METRO WEEKEND PLANNER

JULY 19-21, 2019

NORTHWEST STRING SUMMIT
FRI-SUN – Over 48 bands spread over 5 stages with workshops and late-night sessions in North Plains.

OUTRAGEOUS GOLDEN GIRLS
FRI – San Francisco’s leading comic drag performers feature two hilarious family-friendly episodes of the sitcom.

CONCERTS IN THE PARK
THROUGH AUG 31 – Listen to live music in Portland parks, bring a blanket or chair and share a meal with family or friends.

MEDIEVAL FESTIVAL
FRI-SUN – Wander around the community of Sherwood Forest at the Robin Hood Festival and Parade.  Try your hand at archery, join the knighting ceremony, or participate in building a castle!

COUNTRY MUSIC FEST
FRI-SAT – Canby hosts a variety of 15 country music bands on two stages at the Wild Hare Countryfest. Bring your tent and camp all weekend!

KENNEL CLUB DOG SHOW
FRI-SUN – Head to the Stumptown Cluster to view specialty breeds showcased Friday only, and all breeds on the weekend.

RIVER RHYTHMS
THROUGH AUG 8 – Don’t miss live music at Monteith Riverpark every Thursday. Enjoy food vendors and children’s crafts before the concert. This week, watch the Chubby Checker perform.

FESTIVAL UNDER THE BRIDGE
SAT – Bring a chair or blanket to sit in Cathedral Park under the picturesque St. Johns Bridge and enjoy a picnic or food from local vendors while watching the live Jazz Festival.

SHAKESPEARE IN THE PARK
THROUGH AUG 25 – Watch 17 different plays outdoors during the Original Practice Shakespeare Festival.

MESMERICA 360
THROUGH AUG 31 – A light show mixed with music and 3D visually hypnotic animated art displays a transcendent experience at the immersive planetarium at OMSI.

MERMAID EXPERIENCE
SAT – The Northwest Merfest includes crafts, face painting, Mermaid tales, performances, and live music.

OREGON TRAIL BREWFEST
SAT – Raise a glass to settlers in the Oregon Trail Brewfest. This one-of-a-kind event hosts beers with origins along the historic Oregon Trail route.

OMSI EVENT
ONGOING – OMSI takes a behind the scenes glance at Pixar creations. Experience the science, technology, art, and concepts by Pixar artists for award-winning films.

HISTORIC CHINATOWN
ONGOING – Head to the Portland Chinatown Museum for a look beyond the gate. This exhibit uses rare objects and visuals to explain the history and old tales of Portland’s Historic Chinatowns.

VANCOUVER METRO EVENTS 

CRUISE THE COUVE
SAT – Cruise through 22 blocks of entertainment on Main street and view more than 1,000 classic cars and hot rods.

MOVIES IN THE PARK
FRI – Bring a lawn chair to the park and enjoy Captain Marvel on the big screen at Endeavour Park.

HARVEST DAYS & PARADE
SAT – Celebrate the preparation of harvest in Battle Ground with a festival and parade. Browse vendors, watch entertainment take the stage, and watch extreme sports.

SUMMER CONCERTS
SUN – Three Brothers Vineyard hosts a summer of tribute bands! Don’t miss Steelhorse this weekend, a tribute to Bon Jovi.

VANCOUVER FARMERS MARKET
ONGOING –  The Vancouver farmers market features local fresh produce and products.

MOVIES OPENING THIS WEEKEND

• The Lion King
• At War
• Between Me And My Kind
• David Crosby: Remember My Name
• Rosie
• Supervised

www.bhhsnw.com

The post Portland Metro Weekend Planner: July 19-21, 2019 first appeared on Pacific Northwest Real Estate Blog.

Safeguard Your Home from an Earthquake

As our neighbors in California recently experienced, it pays to safeguard your investment and protect yourself in a natural disaster. Here are a few tips to help prevent damage and recover faster after an earthquake.

Gas Appliances: If you have gas appliances, look into flexible connections or gas shut-off valves on lines that fuel them. Flexible connections allow movement, while metal or hard plastic connections can easily break.

Water: Install an automatic water shut-off valve. Much like a gas shut-off valve, this will trigger your water line to shut off in the case of an earthquake. Water heaters are expensive to replace, so make sure yours stays put in a natural disaster by securing it to the wall. A simple restraint, under $20 at most hardware stores, straps the water heater to a wall and is an easy DIY project that takes only a few minutes and could to save you thousands.

Foundation: Is your home bolted to the foundation and adequately braced? If not, there is a chance it could slide off the foundation during an earthquake. The cost of this security can range from a few hundred dollars to several thousand but can make a huge impact on how well your home fares in an earthquake.

Glass Safety: Stepping through shards of shattered glass can make it difficult for your family to make a safe exit in an earthquake, so tempered or laminated safety glass is a good choice for large windows or sliding doors. Safety film offers a cheaper alternative, but it is difficult to prevent air bubbles from being trapped under the film, so professional installation is advised.

Read more on earthquake preparedness at Ready.gov.

The post Safeguard Your Home from an Earthquake first appeared on Pacific Northwest Real Estate Blog.

Mortgage Stabilization and the End of a Housing Slowdown

Thanks to the lowest unemployment rate in 50 years, historically low-interest rates and responsible underwriting, the mortgage delinquency rate in the U.S. is the lowest in more than 20 years, according to a release from CoreLogic This Week in Real Estate. Below are a few highlights from the second week of July that influence our business:

Mortgage Rates Stabilize as U.S. Markets Respond to Improving Economic Conditions. This week, the 30-year, fixed-rate mortgage averaged 3.75%, holding steady from the previous week, according to the Freddie Mac Primary Mortgage Market Survey. Once again, the rate remains significantly lower than in the same time period in 2018 when it averaged 4.52%.  Freddie Mac Chief Economist Sam Khater said while rates have moderated, we’re still at near three-year lows, which is good news for buyers looking to purchase a home before school starts. “The recent stabilization in mortgage rates reflects modestly improving U.S. economic data and a more accommodative tone from the Federal Reserve to respond to the rising downside economic risk from trade tensions and soft global economic data,” Khater said. “On the housing front, the latest weekly purchase application data suggests homebuyer demand continues to rise, which is consistent with the slowly improving real estate data from the last two months.”

Americans Haven’t Been This Good at Paying Their Mortgages in More Than 20 Years. Americans are better now at paying their mortgages on time than they have been at any point in the last 20 years, a new report from CoreLogic shows. According to CoreLogic’s latest monthly Loan Performance Insights Report, the national delinquency rate (mortgages that are in some stage of delinquency, meaning those that 30 days or more past due and including loans in foreclosure) sat at 3.6% in April. That’s the lowest national delinquency rate in more than 20 years, CoreLogic said. It’s also a significant decline from the same time period last year, when the delinquency rate was 4.3%. According to CoreLogic’s report, the nation’s overall delinquency rate has fallen on a year-over-year basis for the last 16 consecutive months. “Thanks to a 50-year low in unemployment, rising home prices, and responsible underwriting, the U.S. overall delinquency rate is the lowest in more than 20 years,” said CoreLogic chief economist Frank Nothaft. According to the report, April’s serious delinquency rate of 1.3% was the lowest for any month since August 2005, when it was also 1.3%.

The Housing Slowdown May Be Ending. The much discussed – and, in some quarters, much feared – housing slowdown may be coming to an end. The real estate softening that began last summer, marked by a surge in homes hitting the market and fewer sales after years of crazy-high annual price growth, may show signs of reversing course by this fall, say housing experts. “I don’t think we’ll get back all the way to … the frenzy we saw at the beginning of 2018,” says Chief Economist Danielle Hale of realtor.com. But “it’s certainly a possibility that home sales and prices will pick up, especially if mortgage rates stay low.” One primary reason for the market revving up again: Mortgage interest rates falling below 4% again. Moreover, the number of homes available for sale is expected to decline again within the next few months, says Hale. That’s because the growth in inventory is starting to slow, slipping from 2.9% annual growth in May to 2.8% in June, according to realtor.com data. Experts predict it will fall even further this year. “It was only 18 months ago that the number of homes for sale hit its lowest level in recorded history and sparked the fiercest competition among buyers we’ve ever seen,” she explains. “There’s still plenty of pent-up demand from years of underbuilding and more millennials coming of age” and wanting a home of their own to raise their families in, says Hale. But “this year’s buyers seem a little more patient. They’re more willing to wait for a good property.”

The post Mortgage Stabilization and the End of a Housing Slowdown first appeared on Pacific Northwest Real Estate Blog.

CENTRAL OREGON WEEKEND PLANNER

JULY 12-14, 2019

 QUILT SHOW
SAT – Head to Sisters for the outdoor quilt show to browse art on over 1300 quilts from artists all over the world.

LIVE MUSIC AT THE POOL
SUN – Listen to live music, enjoy food and fun during a performance by the Junebugs, a Folk-Rock trio.

KAYAKING, PADDLEBOARDING, CANOEING
THROUGH AUG 30 – Head to the Deschutes River for a tour of Tumalo Creek on a rented device. View the crystal blue waters in the middle of the Deschutes National Forest.

BEND ELKS
SUN – Watch the Bend baseball team play the Victoria HarbourCats at the Vince Genna Stadium.

SUNSET DINNERS
THROUGH SEPT 7 – Mt. Bachelor hosts stunning views for a romantic sunset dinner. Enjoy an eight-course meal with friends or family and end your night with a moonlight chairlift ride down the Mountain.

CROOKED RIVER ROUNDUP
THROUGH SUN – Watch horse racing at the Crooked River Roundup in Prineville.

SOLAR SYSTEM OUTING
FRI – The Oregon Observatory hosts a deep dive into space, with a tour of the Earth, Sun, and Moon.

GLOW BALL GOLF
THROUGH AUG 28 – Glow all night at Sunriver Resort with glowing golf balls, a putter, and fun time with the family.

PARTY BAND
FRI – The Backyard at Sunriver Resort hosts a live band with food, local beverages, and cocktails. The Wild and crazy boys of the High Street Party Band will be in attendance to entertain.

YOGA & WINE
SUN – Take time to relax in mindful yoga and enjoy wine tasting at the Va Piano Vineyards Tasting Room.

MUSIC ON THE WATER
SAT – Elk Lake Resort hosts a summer music series sponsored by Boneyard Beer and Crater Lake Spirits. Float on the lake or sit in front of the stage and enjoy live music.

SATURDAY MARKET
ONGOING – Browse local artists and produce at the Saturday Market, running through Labor Day.

BIKE PARK OPENING
ONGOING – The Mt. Bachelor Bike Park offers 13 miles of downhill trails and different options for various skill levels.

LIVE MUSIC
ONGOING – The Volcanic Theatre and Pub hosts live music that’ll move you. Check their calendar for live theatre and movies as well!

MOVIES OPENING THIS WEEKEND

• Crawl
• Stuber
• The Art of Self Defense
• Bethany Hamilton: Unstoppable
• The Cure Anniversary
• The Farewell
• Sword of Trust
• The Trespassers

The post Central Oregon Weekend Planner: July 12-14, 2019 first appeared on Pacific Northwest Real Estate Blog.

PORTLAND METRO WEEKEND PLANNER

JULY 12-14, 2019

THE BIG FLOAT
SAT – Hop on a float and travel downstream to a beach party. The beach party boasts a music barge, food carts, and a beverage garden.

COWABUNGA
FRI-SUN – Head to the historic Rossi Farms for three days of the best food and drink from the PNW. Enjoy live music while supporting meals on wheels people and the Parkrose school district youth programs.

CONCERTS IN THE PARK
THROUGH AUG 31 – Listen to live music in Portland parks, bring a blanket or chair and share a meal with family or friends.

ROSE CUP
FRI-SUN – The Portland Rose Cup at the Portland International Raceway hosts sports cars and race on a two-mile course.

BASTILLE DAY FESTIVAL
SAT – Enjoy French food, wine, music, and street performers. Dress for a costume contest and shop the marketplace. Enter the Portland Waiters Race for the chance to win monetary prizes.

MISSISSIPPI STREET FAIR
SAT – Shop from over 200 vendors and craft booths, listen to live music bringing the street to life and taste a bite of Portland with food carts lining the streets at the popular Street Fair.

RIVER RHYTHMS
THROUGH AUG 8 – Don’t miss live music at Monteith Riverpark every Thursday. Enjoy food vendors and children’s crafts before the concert. This week, watch the Chubby Checker perform.

PORTLAND PICNIC
SAT – Bring a chair to Westmorland Park for free admission to the wine tasting festival with over 100 participating wines.

SHAKESPEARE IN THE PARK
THROUGH AUG 25 – Watch 17 different plays outdoors during the Original Practice Shakespeare Festival.

OREGON BACH FESTIVAL
THROUGH SAT – Celebrate the legacy of classical music composer Johann Sebastian Bach with 35 performances and events.

ROMEO & JULIET
THROUGH SAT – Watch the famous William Shakespeare tragedy of Romeo and Juliet set on an outdoor stage.  

LAVENDER FESTIVAL
SAT-SUN – The Oregon Lavender Farm Tour features multiple farms and nurseries hosting lavender enthusiasts during full bloom.

ANTIQUE & COLLECTIBLE FESTIVAL
THROUGH JUL 15 – Shop from over 1400 vendors selling furniture, glassware, jewelry, and estate items at the Portland Expo Center. Browse movie memorabilia and vintage collectibles, this weekend only!

OMSI EVENT
ONGOING – OMSI takes a behind the scenes glance at Pixar creations. Experience the science, technology, art, and concepts by Pixar artists for award-winning films.

HISTORIC CHINATOWN
ONGOING – Head to the Portland Chinatown Museum for a look beyond the gate. This exhibit uses rare objects and visuals to explain the history and old tales of Portland’s Historic Chinatowns.

VANCOUVER METRO EVENTS 

HEALTH FAIR
SAT – Meet local health and safety professionals at the annual SW WA Health Fair. Get free wellness checks like blood pressure, glucose testing, spinal assessments, and workshops. Don’t miss the kids’ zone and car seat clinic.

MOVIES IN THE PARK
FRI – Bring a lawn chair to the park and enjoy Aquaman on the big screen at Endeavour Park.

MOVIES ON THE LAWN
FRI – Head to the Rusty Grape Vineyard every Friday evening for a movie on the lawn, this week watch Mean Girls.

DRAGON BOAT RACES
SAT – Take a turn paddling on Vancouver Lake in a dragon boat and race to help Paddle for Life, making a difference in our community.

VANCOUVER FARMERS MARKET
ONGOING –  The Vancouver farmers market features local fresh produce and products.

MOVIES OPENING THIS WEEKEND

• Crawl
• Stuber
• The Art of Self Defense
• Bethany Hamilton: Unstoppable
• The Cure Anniversary
• The Farewell
• Sword of Trust
• The Trespassers

The post Portland Metro Weekend Planner: July 12-14, 2019 first appeared on Pacific Northwest Real Estate Blog.

Economic Expansion’s Effect on the Housing Market

As the U.S. enjoys the longest economic expansion on record, Black Knight estimates This Week in Real Estate that 8.2 million borrowers could benefit from a refinance for a potential savings of about $2.2 trillion. Below are a few highlights from the first week of July that influence our business:

More Than 8 Million Homeowners Are Leaving Big Money on The Table by Not Refinancing. Mortgage rates have been on a roller coaster for the last year, but now they’re sitting at the bottom of the track, giving a major boost to the number of borrowers who can benefit from a refinance. The average rate on the 30-year fixed mortgage hit a three-year low of 3.73% last week, according to Freddie Mac. That means 8.2 million borrowers could refinance and lower their interest rates by at least 75 basis points, estimates Black Knight, a mortgage software and analytics company. It’s the largest group since the end of 2016. It is also a jump of 6.3 million eligible borrowers since last November, when rates peaked at just over 5%. The average borrower could save about $266 per month, bringing the total amount of potential savings to about $2.2 trillion. Mortgage applications to refinance a home loan were up a striking 92% annually last week, according to the Mortgage Bankers Association. Refinances for loans originated last year are leading the way, up 300% according to Black Knight. Given the steep rise in home values over the past three years, homeowners currently hold an aggregate $5.98 trillion in tappable equity.

U.S. Economy Smashes Record For Longest Expansion. America’s economic expansion is now the longest on record after celebrating its 10th birthday on July 1. There’s a caveat: it has also been slowest and the smallest. First, the good news: The expansion that started in 2009 has sent the unemployment rate to a half-century low and inflation is so subdued, Federal Reserve policymakers have said they are not concerned about it – at least, for now. “In the first 39 quarters of the record expansion of 1991-2001, gross domestic product increased 43%,” Bloomberg reported last month. “In the 39 quarters through this March, U.S. GDP grew just 22%. And the sluggish expansion has benefited capital more than labor: Workers’ share of national income has fallen from 68.9% to 66.4% over the period.” The lackluster nature of the expansion may also be its protection, said Mark Zandi, chief economist of Moody’s Analytics. “The key to the expansion’s longevity is two things,” he said in an interview. “First, the economy never boomed, it never really took off, and that has helped because in boom times, people tend to take on too much debt and build too many homes. That’s the fodder for recessions.”

U.S. Job Growth Surges, July Rate Cute Expectations Intact. U.S. job growth rebounded strongly in June, with government payrolls surging, but persistent moderate wage gains and mounting evidence the economy was losing momentum could still encourage the Federal Reserve to cut interest rates this month. The Labor Department’s closely watched employment report on Friday suggested May’s sharp slowdown in hiring was probably a fluke. Lack of concrete progress in resolving an acrimonious trade war between the United States and China, however, means the bar could be very high for the Fed not to lower borrowing costs at its July 30-31 policy meeting. But the strong pace of job gains reduced the chances of a half percentage point rate cut at the end of the month. The U.S. central bank in June signaled it could ease monetary policy as early as this month citing low inflation and growing risks to the economy from an escalation in trade tensions between Washington and Beijing. “We think the Fed is still on track for a 25 basis points cut given trade uncertainty and the steady downtrend in business sentiment,” said Andrew Schneider, a U.S. economist at BNP Paribas Securities in New York.

Take advantage of the low interest rates and talk to our team of mortgage brokers in Oregon or Washington about refinancing or purchasing a home.

The post Economic Expansion's Effect on the Housing Market first appeared on Pacific Northwest Real Estate Blog.

CENTRAL OREGON WEEKEND PLANNER

JULY 4-7, 2019

4^TH PET PARADE
THURS – Bring Fido and join furry friends for a Bend Pet Parade tradition. Start the day with a pancake breakfast, dog parade, then end the day with a festival at Drake Park.

BEND 4^TH FIREWORKS DISPLAY
THURS – Pilot Butte State Park displays the annual Bend Fireworks Spectacular, bring a chair and watch the display from popular city parks with a view of the park.

KAYAKING, PADDLEBOARDING, CANOEING
THROUGH AUG 30 – Head to the Deschutes River for a tour of Tumalo Creek on a rented device. View the crystal blue waters in the middle of the Deschutes National Forest.

4^TH OF JULY AT PRONGHORN
THURS – Head to Pronghorn Resort for family fun, games, great food and entertainment.

SUNSET DINNERS
THROUGH SEPT 7 – Mt. Bachelor hosts stunning views for a romantic sunset dinner. Enjoy an eight-course meal with friends or family and end your night with a moonlight chairlift ride down the Mountain.

COUNTRY MUSIC FEST
THURS-SUN – The LRS Country Music Fest celebrates Independence Day weekend with Trace Adkins, Craig Morgan, and a full tilt Rodeo.

OLD FASHIONED 4^TH
THURS – Ochoco Park in Prineville hosts an old-fashioned Independence Day celebration with over 30 vendors and non-profits.

GLOW BALL GOLF
THROUGH AUG 28 – Glow all night at Sunriver Resort with glowing golf balls, a putter, and fun time with the family.

5K & BIKE PARADE
THURS – Head to Sunriver Resort for a run through beautiful meadows with views of Mt. Bachelor and wildlife. Decorate your bikes at the Bike Barn and decorate for a wheelin’ good time.

BIKE PARK OPENING
ONGOING – The Mt. Bachelor Bike Park offers 13 miles of downhill trails and different options for various skill levels.

LIVE MUSIC
ONGOING – The Volcanic Theatre and Pub hosts live music that’ll move you. Check their calendar for live theatre and movies as well!

MOVIES OPENING THIS WEEKEND

• Spider-Man: Far From Home
• Midsommar
• Marianne & Leonard: Words
• Toy Story 4
• Yesterday
• Annabelle Comes Home
• Three Peaks

Click here for movie times and theaters.

FOR A COMPLETE LIST OF EVENTS IN THE AREA FOR THE ENTIRE MONTH, VISIT CENTRAL OREGON EVENTS. 

CLICK HERE TO VIEW THIS WEEK’S OPEN HOUSES

www.bhhsnw.com

The post Central Oregon Weekend Planner: July 4-7, 2019 first appeared on Pacific Northwest Real Estate Blog.