Announcing Juli Gun 2/13/16

In Announcement, Portland Real Estate by Juli

Cascade Sotheby’s International Realty is excited to welcome Juli Gun, who has joined our team in Lake Oswego, Oregon.Juli-Gun-BW-e1453240163967-150x150

Juli is an experienced real estate veteran with over 10 years of real estate experience. She specializes in many real estate fields including Residential, Multifamily, Mixed Use Properties, Farm, and Forest. Her experience includes the representation of clients purchasing and selling properties with mixed-use improvements including architecturally significant residential and multi-family homes and residential homes with value-added commercial improvements or potential uses in the Portland Metro area and at the Oregon Coast.

“I have extensive experience with purchase and sale of large parcels of land with mixed zoning and development considerations, including agricultural, forest, flood, tsunami, conservation and environmental overlays, multiple water uses and rights, residential and commercial uses.”

Juli’s projects include zoning research, collaboration with municipal planning and zoning departments and public works, architects, designers, engineers, timber and business brokers, appraisers, and various attorneys in service of maximizing value in alignment with client vision and goals.

Juli has joined the Cascade Sotheby’s team in Portland and is thrilled to offer her clients the best service and outcome in all transactions. She is licensed to practice in both Oregon and Washington. During her spare time Juli enjoys novel writing, hiking, swimming, reading, meditation and gardening. We are excited to have her on-board and know she will be a great addition to the team. You can reach Juli at juli.gun@cascadesir.com.

This Week in Real Estate 1/3/16

In Portland Market Update by Juli

Happy New Year!

This Week in Real Estate brought a close to a memorable year. Below are a few of the highlights from the final week of 2015 that influence our business:

 

Consumers Have Confidence in 2016. The Conference Board Consumer Confidence Index, which had decreased moderately in November, improved in December. The Index now stands at 96.5, up from 92.6 in November. The Present Situation Index increased from 110.9 last month to 115.3 in December, while the Expectations Index improved to 83.9 from 80.4 in November. “As 2015 drew to a close, consumers’ assessment of the current state of the economy remains positive, particularly their assessment of the job market. Looking ahead to 2016, consumers are expecting little change in both business conditions and labor market. Expectations regarding their financial outlook are mixed, but the optimists continue to outweigh the pessimists,” said Lynn Franco, Director of Economic Indicators at The Conference Board. Full Story… https://www.conference-board.org/data/consumerconfidence.cfm

 

What Fed Rate Hike? Interest Rates Hold Steady for 2nd Straight Week. Despite some declarations that the Federal Open Market Committee’s recent decision to raise the federal funds rate for the first time since June 2006 was a “disaster,” the FOMC’s decision is having a limited impact on mortgage interest rates thus far. Mortgage rates ticked up a little in the week that ended December 10 in anticipation of a Fed rate hike, with the average interest rate for a 30-year fixed-rate mortgage increasing during that week from 3.93% to 3.95%, according to Freddic Mac. And in the week that ended December 17, the week that included the FOMC’s decision to raise rates, mortgage rates ticked up slightly again, from 3.95% to 3.97%, but Freddie Mac’s chief economist, Sean Becketti said that interest rates should remain at “historically low levels” throughout 2016, in spite of whatever moves the Federal Reserve is expected to make. And according to the latest Primary Mortgage Market Survey report from Freddie Mac, interest rates held steady for the second week in a row, with the average interest rate for a 30-year fixed-rate mortgage actually falling slightly in the week that ended December 24, from 3.97% to 3.96%.  Full Story… http://www.housingwire.com/articles/35902-what-fed-rate-hike-interest-rates-hold-steady-for-2nd-straight-week?eid=322520585&bid=1264343

 

Freddie Mac: Improving Mortgage Performance Equals Best MiMi in 15 Months. Housing markets across the country are steadily making their way into the stable range, according to Freddie Mac’s latest Multi-Indicator Market Index (MiMi). The MiMi monitors and measures the stability of the nation’s housing market, as well as the housing markets of all 50 states, the District of Columbia, and the top 100 metro markets. The most recent report said the national MiMi value now stands at 81.9, indicating a housing market that is on its outer range of stable housing activity. On a year-over-year basis, the national MiMi value has improved 6.31%. “The strong annual change of 6.31% is the best improvement we’ve seen in the MiMi on a year-over-year basis since July 2014,” said Freddie Mac Deputy Chief Economist Len Kiefer. “While strong home purchase applications and rising home values in some markets are contributing to this improvement, its largely more of a reflection of mortgage delinquencies continuing to decline at a steady pace, especially in those hardest hit markets, and a better employment picture overall,” he said. On an annual basis the leaders were Florida (+14.47%), Oregon (+12.2%), Colorado (+11.97%), Washington (+11.69%) and Nevada (+11.13%). Full Story… http://www.mortgagenewsdaily.com/12302015_freddie_mac_mimi.asp

 

Case-Shiller: Home Prices Continue Upward Trend. Home prices once again trended higher in October as positive economic news continues to support increases, according to the most recent S&P/Case-Shiller U.S. National Home Price Index, covering all nine U.S. census divisions. Home prices posted a slightly higher year-over-year gain with a 5.2% annual increase in October, up from a 4.9% increase in September. “Generally good economic conditions continue to support gains in home prices,” said David Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices. “Among the positive factors are consumers’ expectations of low inflation and further economic growth as well as recent increases in residential construction including single-family housing starts,” he continued.  Full Story… http://www.housingwire.com/articles/35908-case-shiller-home-prices-continue-upward-trend?eid=322520585&bid=1264985

What’s in Store for Portland Real Estate 1/2/16

In Portland Real Estate News by Juli

The end of one year is always a good time to look at the beginning of another and see what’s on the horizon.

To size up what could be ahead in the Portland real estate scene, we reached out to some local experts who shined a little forecasting light in the areas of residential, industrial, office and multifamily real estate.

Three highlights from what they shared are below here, but find even more from them, including some insight from Tom Brenneke, president of Guardian Real Estate Services LLC, in tomorrow’s print edition of the Portland Business Journal.

 

Jerry Matson, vice president, Colliers International (Industrial): “The fact that we have delivered 2.5 million square feet in the last two years is fairly misleading, as a vast majority has been in nine large buildings catering to only the largest tenants in the market. We really haven’t even begun to address the lack of supply we are feeling in the broader market, as smaller local/regional companies look for space to expand into.”

 

Jenelle Isaacson, owner of Living Room Realty (Residential): ” The east side has pent-up demand for condos, and I expect to see that continue until banks will lend on condo development again. Until then, we expect to see our tenant placement services continue to grow, as people who would buy condos — if they were available — choose modern apartment developments and become renters and need help relocating in our tight rental market.”

 

Buzz Ellis, managing director, JLL (Office): ” Overall rents jumped more than 10 percent in 2015, but this rent growth should moderate in 2016 as 1.3 million square feet of new construction and redeveloped properties come online.”