Category Archives: 2018 REAL ESTATE FORECAST

Most current RE stats for Portland-Metro

May Market Report Portland 2018

May Residential Highlights
New listings made some gains this May in the Portland metro area. At 4,665, new listings outpaced May 2017 (4,388) by 6.3% and rose 16.9% from last month in April 2018 (3,990). This was the strongest May for new listings since 2008, when 5,182 were offered in the month. Closed sales (2,803) fell 3.2% short of the 2,896 closings recorded last year in May 2017 but showed a 11.1% increase from last month in April 2018 (2,523). Pending sales (3,201) fared similarly, decreasing 6.8% from May 2017 (3,435) but rising 6.4% from April 2018 (3,008). Inventory in the Portland metro area remained unchanged in May. During the same time, total market time decreased by five days to end at 37 days.

Year to Date Summary
Activity so far in 2018 is a little mixed compared to 2017. New listings (17,506) are up 4.9%. Closed sales (11,492) are down 0.2%, and pending sales (13,360) are down 0.8%.

Average and Median Sale Prices
Comparing 2018 to 2017 through May of each year, the average sale price rose 5.9% from $423,800 to $448,600. In the same comparison, the median sale price rose 8.0% from $370,000 to $399,500.May Residential Highlights
New listings made some gains this May in the Portland metro area. At 4,665, new listings outpaced May 2017 (4,388) by 6.3% and rose 16.9% from last month in April 2018 (3,990). This was the strongest May for new listings since 2008, when 5,182 were offered in the month. Closed sales (2,803) fell 3.2% short of the 2,896 closings recorded last year in May 2017 but showed a 11.1% increase from last month in April 2018 (2,523). Pending sales (3,201) fared similarly, decreasing 6.8% from May 2017 (3,435) but rising 6.4% from April 2018 (3,008). Inventory in the Portland metro area remained unchanged in May. During the same time, total market time decreased by five days to end at 37 days.

Year to Date Summary
Activity so far in 2018 is a little mixed compared to 2017. New listings (17,506) are up 4.9%. Closed sales (11,492) are down 0.2%, and pending sales (13,360) are down 0.8%.

Average and Median Sale Prices
Comparing 2018 to 2017 through May of each year, the average sale price rose 5.9% from $423,800 to $448,600. In the same comparison, the median sale price rose 8.0% from $370,000 to $399,500.

If you’ve thought about selling please give Rachel a call for information on your home value, steps it takes to sell and what to expect when you sell and/or buy. She has helped many people successfully sell their home and she can help you too! For more information on the current real estate market and how you fit in it please call, email, or text anytime.

 

Five Star award Winner 2011-2018 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, MASTERS CIRCLE, Earth Advantage Broker, Diversity Specialist-HOWNW, CSA-Certified Staging Agent, Oregon First, Washington First

Direct 503.380.9634, Email- rachel@rachelsheller.com

View a current list of ALL available Houses on the market on my website.

***I’M ALWAYS HAPPY TO HELP YOU AND YOUR REFERRALS***

Licensed in the State of Oregon and Washington

 

 

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Buying a home will be getting more expensive – buy now!

Buy now

World financial events are conspiring to make it more expensive to borrow money to buy a house. In fact, mortgage interest rates are on the increase, according to BankRate.com, while housing prices continue to rise due to a lack of available properties for sale.

If your credit is good and your job is secure, industry analysts agree that it’s time to make an offer on your new home – the sooner, the better!

Steady economic growth and higher pay are encouraging even more Americans to jump into the already crowded real estate market. And rising interest rates will mean the competition for houses will continue to grow throughout the year.

The time to buy is now! Please call, email, or text when you are ready to get started!

Five Star award Winner 2011-2018 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, MASTERS CIRCLE, Earth Advantage Broker, Diversity Specialist-HOWNW, CSA-Certified Staging Agent, Oregon First, Realtors

Direct 503.380.9634, Email-    homesforyou@frontier.com

View ALL available Houses on the market on my website

***I’M ALWAYS HAPPY TO HELP YOU AND YOUR REFERRALS***

Licensed in the State of Oregon

Good signs new construction is turning around in 2018!

new construction

For many first-time home buyers, 2017 was tough. It was a year in which many baby boomers stayed put in their larger homes, investors sank money into rental properties, and new construction remained slow. Together, that meant fewer affordable single-family homes especially for those in the market for the very first time.

However, the rest of 2018 is predicted to bring good news. With an increase in building permits submitted at the end of 2017, new construction is expected to increase. According to NerdWallet, the “median estimate has single-family housing starts rising about 8 percent in 2018, to roughly 912,500 new houses.” This means more homes for first-time buyers will be on the market as the year progresses.

If you’re looking for a single-family home, it’s time to talk to call me now. Start the conversation with me early in the year so you can be ready to buy when the time comes. I have information about new construction in your area and can guide you through the process to get you settled into a new home. Call, email, or text anytime!

Five Star award Winner 2011-2018 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, MASTERS CIRCLE, Earth Advantage Broker, Diversity Specialist-HOWNW, CSA-Certified Staging Agent, Oregon First, Realtors

Direct 503.380.9634, Email-    homesforyou@frontier.com

View ALL available Houses on the market on my website.

***I’M ALWAYS HAPPY TO HELP YOU AND YOUR REFERRALS***

Licensed in the State of Oregon

 

 

Whats happening in our Portland-Metro real estate market right now!

Portland March Report 4-14-2018

The very latest Portland Metro Real Estate numbers 4-14-2018. Take a look at the current appreciation schedule (increase in values), median sales prices, and days on the market (DOM) for most of our Portland-Metro areas. Where do you fit? Each neighborhood, in each City may vary from this rate sheet. Actually, they probably do a bit. Not all homes in Oregon City sell for $366,000 as an example. If you would like information on your home value, selling your home, or buying in one of these areas please call, email, or text. I’m happy to go over all this and what it means to you!

Five Star award Winner 2011-2018 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES,MASTERS CIRCLE, Earth Advantage Broker, Diversity Specialist-HOWNW, CSA-Certified Staging Agent, Oregon First, Realtors

Direct 503.380.9634, Email- homesforyou@frontier.com

View ALL available Houses on the market on my website

***I’M ALWAYS HAPPY TO HELP YOU AND YOUR REFERRALS***

Licensed in the State of Oregon

Client Testimonial

Rachel was an amazing agent to us! She explained the entire process from start to finish before we even began searching for homes. She shows the the entire range of homes that fit your price and was able to beat out a competing buyer to get us our dream home! We will be using her for all real estate needs in the future! 5/5 stars life is good-house

The very latest real estate numbers & stats for Portland-Metro as of 2-15-2018

The first month of 2018 is in the books! The real estate numbers look pretty darn good! Take a look at the graphs. there are three that give different , and the most CURRENT information on our Portland-Metro real estate market.

Inventory rose a bit in January, ending at 2.2 months. 2.2 months is still a low number. Ideally, we want months of inventory to be around 5-7. This just means we are in  a sellers market still. Anything under 6 months of inventory is a Seller’s market.  During the same period, total market time increased by five days to end at 60 days. This in conjunction with the low inventory send a signal that possibly we will see more homes on the market soon.

We are seeing, on average, +7.6% appreciation in homes. That is a very good number. Where else can you get +7.6% growth, on average, just by living in your home, having a rental, or holding property? The median appreciation is even higher at +8.6%! I’m a big advocate for home ownership. It’s just a win, win, win all around for YOU!

Finally, take a look at the graph that breaks down the different Portland-Metro locations and their individual stats! Days on the market, appreciation schedule, average sales price, etc.  We are seeing POSITIVE appreciation in all areas. the highest is Mt. Hood at 16.2% and the least is West Portland at 3.2%. Take a look at the areas that you live or are interested in. Each neighbor hood also has different appreciation values.

If you would like more information about selling and/or buying ion today’s market, please call, email, or text anytime. I’d love to go over what your home value is, steps it takes to sell, what to do to get ready to sell, and what to expect when you sell ans/or buy. I’ve helped many people be successful and I can help you too!

Five Star award recipient 2011-2018 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, MASTERS CIRCLE, Earth Advantage Broker, Diversity Specialist-HOWNW, CSA-Certified Staging Agent

Oregon First, Realtors, Direct 503.380.9634

Email-    homesforyou@frontier.com

View ALL available Houses on the market on my website.

Licensed in the State of Oregon

***I’M ALWAYS HAPPY TO HELP YOU AND YOUR REFERRALS***

 

New Real EstateTax Law – 5 Effects to Home ownership and 1 unchanged

Have you heard about the new tax laws? Congress’ recently passed tax reform, has five changes that might effect homeowners.

  1. Mortgage Interest Deduction

The mortgage interest tax deduction is touted as a way to make homeownership more affordable. It cuts the federal income tax that qualifying homeowners pay by reducing their taxable income by the amount of mortgage interest they pay. Beginning in 2018, the deduction is scaled back to interest on debt up to $750,000, instead of $1 million, for people who buy homes on or after Dec. 15, 2017.

  • Tax Law Through 2017: You may deduct the interest you pay on mortgage debt up to $1 million ($500,000 if married filing separately) on your primary home and a second home.
  • Tax Law Beginning in 2018: For homes bought before Dec. 15, 2017, no change. But for homes bought Dec. 15, 2017, or later, you may deduct the interest you pay on mortgage debt up to $750,000($375,000 if married filing separately).

 

2. Property Tax Deduction

The former tax law eased the pain of paying property taxes by allowing qualifying taxpayers to reduce their taxable income by the total amount of property taxes they paid. Beginning in 2018, the deduction is limited to a total of $10,000 for the cost of property taxes, and state and local income taxes or sales taxes.

  • Tax Law Through 2017: You may deduct the property taxes you pay on real estate you own.
  • Tax Law Beginning in 2018: You may deduct up to $10,000 ($5,000 if married filing separately) for a combination of property taxes and either state or local income taxes or sales taxes.home-167734__340

3. Home Equity Deduction

On top of the mortgage interest deduction, the former tax law added a deduction for interest paid on home equity debt “for reasons other than to buy, build, or substantially improve your home.” So, for example, if you borrowed from a home equity line of credit to pay tuition, the interest you paid was tax-deductible. Starting in 2018, the deduction is eliminated for interest paid on home equity debt.

  • Tax Law Through 2017: You may deduct interest on up to $100,000 of home equity debt ($50,000 if married filing separately).
  • Tax Law Beginning in 2018: Eliminates the deduction for interest on home equity debt.

4. Mortgage Interest Deduction For Second Homes

You may deduct interest on mortgage debt on your primary home and a second home. The new law keeps this part of the former tax law in place, although it reduces the amount of eligible mortgage debt, as seen in item No. 1 above.

  • Tax Law Through 2017: Deduct the interest you pay on mortgage debt up to $1 million ($500,000 if married filing separately) on your primary home and a second home.
  • Tax Law Beginning in 2018: Deduct the interest you pay on mortgage debt up to $750,000 ($375,000 if married filing separately) on your primary home and a second home.

 

5. Moving Expenses

Under the former tax law, you could deduct some moving expenses when you moved for a new job. You had to meet complex criteria involving distance and timing of the move. Beginning in 2018, only active-duty members of the armed forces will be allowed to deduct moving expenses.

  • Tax Law Through 2017: Deduct some moving expenses if you meet distance and time requirements.
  • Tax Law Beginning in 2018: Only active duty members of the armed forces may deduct moving expenses.

 

Capital Gains rule has NOT changed

Changing the capital gains rule was on the chopping block, but thankfully it has not changed. When you sell a house, the capital gain is the difference between the price you paid for it and the price you sold it for. This capital gain is treated as taxable income. If you owned the house long enough, you’re allowed to exclude up to $500,000 (for married couples) of this capital gain as income so you don’t have to pay federal income tax on it. (The exclusion is capped at $250,000 for taxpayers filing separately.)

  • You must have owned the home, and used it as your primary residence, during at least two of the five years before the date of sale. You cannot have used this exclusion in the two years before the sale of the home.

Would you like to know more? I’m not an accountant, but I can give guidance on home values, market conditions, buying, selling, and a couple great recommendations. For more information the new tax laws contact tour favorite CPA or call me and I’d be happy to refer you.

Five Star award recipient 2011-2018 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, MASTERS CIRCLE, Earth Advantage Broker, Diversity Specialist-HOWNW, CSA-Certified Staging Agent

Oregon First, Realtors, Direct 503.380.9634, Email-   homesforyou@frontier.com

View ALL available Houses on the market on my website

Licensed in the State of Oregon

***I’M ALWAYS HAPPY TO HELP YOU AND YOUR REFERRALS***

Thanks you Lewis Holden for the original article sited here.

Lewis, Holden, and Holden Lewis Holden is a personal finance writer for NerdWallet. He previously covered mortgages and real estate at Bankrate. Read more twitterTwitteremailEmail. “Tax Plan Compromise: What Happens to Homeownership?”NerdWallet, 20 Dec. 2017,