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Keller Williams Realty Portland Premiere - The Clark Group Blog

Thursday, December 28, 2017   /   by Melissa Nielsen

10 Housing and Mortgage Trends to Watch for in 2018

10 Housing and Mortgage Trends to Watch for in 2018

The housing picture is likely to improve in 2018:

Home prices are expected to climb, but not as fast

More houses could be for sale toward the end of the year, giving home buyers a greater selection to choose from

Homeowners will have more equity to borrow from

Yet in other ways, 2018 might continue to be challenging, especially for home buyers. Mortgage rates are likely to rise, reducing affordability.

Here are 10 housing and mortgage trends to expect in 2018.

1. Home prices decelerate

Good news for first-time home buyers: Home-price appreciation is expected to cool down in 2018 after a torrid couple of years.

Home prices rose 6.3% in 2016, according to the Federal Housing Finance Agency. They’re on track to exceed 6% in 2017, too. But for next year, the median forecast among six industry and lender groups is for a 4.1% increase in existing home prices nationwide.

Why the slow ...

Wednesday, December 6, 2017   /   by Melissa Nielsen

Your buying power is dropping as the rates go up! Now is most certainly the time to buy!

Fed rate hike is expected next week and three more increases are expected in 2018: Reuters poll

The U.S. Federal Reserve is almost certain to raise interest rates later this month, according to a Reuters poll of economists.

A majority of economists now expect three more rate increases next year compared with two when surveyed just weeks ago.

Most economists surveyed said tax cuts were not necessary and the passage of the bill means the forecast risks have shifted toward higher rates, and faster.

The U.S. Federal Reserve is almost certain to raise interest rates later this month, according to a Reuters poll of economists, a majority of whom now expect three more rate rises next year compared with two when surveyed just weeks ago.

The results, from a survey taken just before the U.S. Senate voted to pass tax cuts that are expected to add about $1.4 trillion to the national debt over the next decade, show economists were already becoming more convinced. ...

Friday, December 1, 2017   /   by Melissa Nielsen

6 Ways to Build Your Home Equity (and Savings) Faster

6 Ways to Build Your Home Equity (and Savings) Faster

A home purchase brings together so many things under one roof: dreams, shelter, status, maybe a passport to better schools and neighborhoods. And one more thing: It gives you a forced savings account.

It does that by letting you build home equity, which is the difference between your home’s market value and what you owe on it. Your equity increases with each house payment you make. When home prices rise, your equity grows faster as your home’s value increases.

Stockpiling home equity gives many savers an exceptional feeling of satisfaction. Those forced savings also are a mighty resource to tap if you’re hit with an unexpected expense or want a boost on one of life’s milestones, like helping a kid through college or upgrading the home.

For these big life expenses, you can draw on your equity with a home equity loan or line of credit. The secret is mode ...

Thursday, November 9, 2017   /   by Alex Clark

Invest or Pay Off Your Mortgage? How to Decide

Invest or Pay Off Your Mortgage? How to Decide

Should you invest extra cash or use it to pay off your mortgage?

It’s a heated debate that rivals French press versus pour-over coffee and “Star Wars” or “Star Trek.” But while all three topics might get passionate believers on both sides all worked up, investing or paying off your mortgage is a choice with serious financial consequences.

Here’s how to know which way to go.

The six variables to consider

To decide between the two, Justin Goodbread, a certified financial planner in Knoxville, Tennessee, suggests you consider six variables:

Your home’s current market value

Your mortgage interest rate

Home appreciation in your area

Your income tax rate

Expectations for inflation

An assumed rate of investment return

In an analysis on his blog, Financially Simple, Goodbread used national averages for these six parameter ...

Thursday, October 19, 2017   /   by Lacey Parker

City of Portland Home Energy Score Overview

Portland Home Energy Score Ordinance
Starting January 1, 2018, the city of Portland will require a Home Energy Score be performed prior to publicly listing a home for sale. The Home Energy Score must be provided to all potential buyers, their realtors and the City of Portland while it’s for sale and the score be posted on all listings (MLS, Craigslist, Zillow, Trulia, For Sale By Owner etc.). There is a repeating $500 fine for noncompliance. 

The law does not require you do upgrades or meet any level of energy efficiency, you only need to make it available. 
For exemptions and waivers see: https://www.portlandoregon.gov/bps/article/655310
Law only applies to homes within the City of Portland. City boundary map below. 

What is a Home Energy Score?
A Home Energy Score is an energy audit that prioritizes energy upgrades and details the cost savings of each upgrade.  It's also used as a method of comparing homes based on energy use ...
Keller Williams Realty Portland Premiere - The Clark Group
Alex Clark
7504 SW Bridgeport Rd
Portland, OR 97224

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