Whitney Minnich Real Estate and Community Updates

Check out the Oregon City January 2019 real estate report by clicking on the image below. This update provides a snapshot of the real estate market in 97045. I hope that this report will keep you updated with market activity and trends, whether you are thinking of buying, selling, investing, or you are just curious as to what the market is doing in the Oregon City area. There are many factors that go into determining the fair market value for a home. The fair market value is the price that a ready, willing, and able buyer is willing to pay and a seller is willing to accept, based on historical data. Contact me for a complementary and detailed market analysis specific your house, 503.953.6240 or whitney@whitneyminnich.com.

Housing prices drop in Portland, national sales down Some think the housing market may be cooling off for good By:   Jennifer Dowling   Posted:  Nov 29, 2018 03:53 PM PST Updated:  Nov 29, 2018 05:34 PM PST Across the United States, the number of newly built homes has gone through the roof - but many are sitting on the market without buyers.  National sales are down nearly nine percent from a month ago while the number of new, unsold homes climbed to its highest level in nine years.  It begs the question: Is the housing market cooling off for good? And what does this mean for the Portland area?  According to the US Census Bureau and the US Department of Housing and Urban Development, national home sales overall were down 12 percent in October from the same time last year.  But around the Pacific Northwest, some numbers reflected an even steeper decline.  Tim Manickam, a broker at JMA Properties, said sales in so...

Check out the Oregon City November 2018 real estate report by clicking on the image below. This update provides a snapshot of the real estate market in 97045. I hope that this report will keep you updated with market activity and trends, whether you are thinking of buying, selling, investing, or you are just curious as to what the market is doing in the Oregon City area. There are many factors that go into determining the fair market value for a home. The fair market value is the price that a ready, willing, and able buyer is willing to pay and a seller is willing to accept, based on historical data. Contact me for a complementary and detailed market analysis specific your house, 503.953.6240 or whitney@whitneyminnich.com.

Mortgage Rates Are Back on the Rise October 26, 2018 © REALTOR® Magazine Borrowers were faced with rising mortgage rates again this week, after a slight pause from increases the week before. “Despite volatility in the stock market, the 30-year fixed-rate mortgage inched forward just 1 basis point to 4.86 percent this week,” says Sam Khater, Freddie Mac’s chief economist. “We expect rates to continue to rise, which will put downward pressure on homebuying activity. While higher borrowing costs will keep some people out of the market, buyers with more flexibility could take advantage of the decreased competition.” Freddie Mac reports the following national averages with mortgage rates for the week ending Oct. 25, 2018: 30-year fixed-rate mortgages:  averaged 4.86 percent, with an average 0.5 point, rising slightly from last week’s 4.85 percent average. Last year at this time, 30-year rates averaged 3.94 percent. 15-year fixed-rate mortgages: ...

What Does a Successful Buyer Look Like? July 18, 2018 Sure, there are housing shortages and rising home prices and interest rates, but some consumers just aren't fazed. Thirty-four percent of home buyers told realtor.com® they weren't being stopped by price and rate hikes. According to the newly released survey The Home of Home Search, based on responses from more than 1,000 consumers who closed on a home purchase in 2018, 42 percent of respondents only had to make one or two offers in their home purchase process. Fifty-one percent of buyers said they didn’t pay above asking price, and 28 percent said they paid less than what was listed. Danielle Hale, realtor.com®’s chief economist, says part of the reason for the sunny outlook is that the buyers who make it to the closing table are ready to roll with this challenging market. “Successful home buyers in 2018 have been exceptionally well-qualified,” she says. “We are seeing the impact of the inven...

The Ideal Age for First-Timers to Buy July 18, 2018 Apparently the magic number for first-time home buyers is 28. That’s the average age that most Americans think a person should be when they buy their own home, according to a new Bankrate.com report conducted  last month among a sample of 1,001 respondents. This may be a bit optimistic in practice, at least for buyers in today’s market. The National Association of REALTORS®’  2017 Profile of Home Buyers and Sellers  found the median age of first-time buyers was 32 years old for the second year in a row. The Bankrate study did find some differences in opinion between genders and regions of the country. While a quarter of men think people should strive to buy their first home by age 25, just 12 percent of women say the same. Those who live in the Northeast appeared to have lower expectations for buying a first home than other survey participants. Nearly one in five living in this region responded tha...

Why Oregon Homebuyers Should Shop Their Loans Before Going Under Contract by Phil Querin, Querin Law, LLC A few years ago, before the real estate market got crazy hot (and before we   changed the OREF Sale Agreement form),  it was not unusual for a buyer to submit  their preapproval letter to their seller, go under contract, and then try to find other lenders who might offer better rates or  terms.  Keep reading here:  https://pmar.org/wp-content/uploads/QuerinLaw-July11.pdf

How Much Influence Should Kids Have in Buying Decisions? Fifty-five percent of homeowners who have a child under the age of 18 say their kids’ opinions factored into their homebuying decision, according to a Harris Poll survey of more than 2,000 U.S. adults. What’s more, 74 percent of millennial parents—those up to age 36—indicate they took their kids’ opinions under consideration when buying a home. Renters pay even more attention to their children: 83 percent say their kids’ opinions mattered in their housing decisions. Though the trend is strong, real estate professionals and psychologists are torn on how much kids should be involved in real estate matters. Moving is a big decision, and involving the children more in the process may help them feel a greater sense of control and ownership, clinical psychologist Ryan Hooper told the  Chicago Tribune . On the other hand, children could feel rejected if their parents are unable to fulfill their requests, Hooper says. Ad...

If you are one of the many renters out there who would like to make the transition from renter to homeowner, contact me today to learn how you can own a home - 571-970-7195 or whitney@whitneyminnich.com . National Homeownership Month! by   The KCM Crew   on  June 1, 2015   in   For Buyers National Homeownership Month actually started as a week-long celebration of homeownership during the Clinton administration in 1995. In 2002, President George W. Bush proclaimed June as the  National Homeownership Month . Here is an excerpt from his  proclamation : “Homeownership is an important part of the American Dream…A home provides shelter and a safe place where families can prosper and children can thrive. For many Americans, their home is an important financial investment, and it can be a source of great personal pride and an important part of community stability.” “Homeownership encourages personal responsibility and the values necessary fo...

Just another reason not to wait to purchase a home: "...if the economy continues to improve as I expect, I think it will be appropriate at some point this year to take the initial step to raise the federal funds rate target and begin the process of normalizing monetary policy." - Federal Reserve Chair Janet Yellen YELLEN: Rate hikes are coming this year Myles UDland - MAY 22, 2015, 1:01 PM Federal Reserve chair Janet Yellen said it will be appropriate for the Fed to raise rates at some point this year.  Yellen's comments were delivered on Friday before the Greater Providence Chamber of Commerce.   Here's the key peel from Yellen's speech: Given this economic outlook and the attendant uncertainty, how is monetary policy likely to evolve over the next few years? Because of the substantial lags in the effects of monetary policy on the economy, we must make policy in a forward-looking manner. Delaying action to tighten monetary policy until employm...

Buying a Home is 35% Less Expensive than Renting by   The KCM Crew   on  May 18, 2015 In the latest  Rent vs. Buy Report  from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage throughout the 100 largest metro areas in the United States. The updated numbers actually show that the range is from an average of 16% in Honolulu (HI), all the way to 55% in Sarasota (FL), and  35% Nationwide! The other interesting findings in the report include: Interest rates have remained low and even though home prices have appreciated around the country (3.9%), they haven’t greatly outpaced rental appreciation (3.7%).  “In the past year, these two trends have made homeownership even more affordable compared with renting.” Some markets might tip in favor of renting if home prices increase at a greater rate than rents and if – as most economists expect – mortgage rates rise, due to the stre...

Some Highlights: Even a small increase in interest rates drastically impacts your budget. Securing a mortgage now while rates are still low means you can get more house for your money. Spend your money on your dream home, not on interest. Link to full article . 

A great way to end the week and start a new month - giving these keys to my clients at their settlement today! If you've been thinking about purchasing a home contact me at 571-970-7195 or whitney@whitneyminnich.com to start the conversation. 

As someone who loves coffee and real estate this is a great story and great news! "Homes within a quarter-mile of a Starbucks increased in value by 96 percent, on average, compared with 65 percent for all U.S. homes." It gets even better, DC is ranked at the top - third to be exact - as one of the metro cities where Starbucks has had the biggest effect on home values. If you've been thinking about buying or selling, give me a call 571-970-7195, or email me, whitney@whitneyminnich.com, to start the conversation - we can even meet over Starbucks coffee. Markets Where Starbucks Boosts Home Values the Most  Starbucks caffeinates home values, too, and some cities see a bigger jolt than others. Here’s a hot home-buying tip that’s been percolating since “ Zillow Talk: The New Rules of Real Estate ” was released: Buying near a Starbucks has benefits beyond easy access to your double-tall, non-fat, bone-dry cappuccino. Between 1997 and 2014, homes within a quarter-mile o...

Just ratified another contract for buyers I've been working with - what a great way to end the day! If you've been thinking about purchasing a home contact me at 571-970-7195 or whitney@whitneyminnich.com to start the conversation.

What makes this rainy day bright? Putting up a SOLD sign after only 6 days on the market! If you've been thinking about selling contact me at 571-970-7195 or whitney@whitneyminnich.com  to start the process today.

Just another reason to purchase a home now. Contact me, 571-970-7195 or whitney@whitneyminnich.com, to start the buying process today. Fed: Interest Rate Hikes Likely in June DAILY REAL ESTATE NEWS | THURSDAY, APRIL 09, 2015 The Federal Reserve is signaling that it will likely take action on increasing interest rates in two months, despite recent data that shows a weakened economy. This would be the first rate increase since 2006. "I could imagine circumstances where a June rate hike could still be in play," says William Dudley, New York Fed president, and a voting member on the Fed's policy committee. "If the economy's strong, the unemployment rate is dropping, wages are rising, and the outlook is good, you could conceivably get to that point. The bar is probably a little bit higher" for a June hike given recent data. Two central bank officials said Wednesday that disappointing job growth, manufacturing activity, and retail sales over the winter...

The Federal Reserve is signaling that it will likely take action on increasing interest rates in two months - this would be the first rate increase since 2006. If you've been thinking about selling your home, you might want to consider putting it on the market now so buyers can lock in the lower rates. Contact me now at 571-970-7195 or whitney@whitneyminnich.com to start the selling process today. Fed: Interest Rate Hikes Likely in June DAILY REAL ESTATE NEWS | THURSDAY, APRIL 09, 2015 The Federal Reserve is signaling that it will likely take action on increasing interest rates in two months, despite recent data that shows a weakened economy. This would be the first rate increase since 2006. "I could imagine circumstances where a June rate hike could still be in play," says William Dudley, New York Fed president, and a voting member on the Fed's policy committee. "If the economy's strong, the unemployment rate is dropping, wages are rising, and th...

Prices are going up, interest rates are still low - it's a great time to purchase a home. If you've been thinking about buying a home, it's the perfect time to start the conversation! Contact me today at 571-970-7191 or whitney@whitneyminnich.com. House Prices Record Annual Gains, Expected to Rise in the Future BY  MICHAEL NEAL   on   APRIL 2, 2015 The recent  release  by the Federal Housing Finance Agency (FHFA) shows that its measure of house prices, House Price Index – Purchase Only, rose by 5.1% on a 12-month seasonally adjusted basis in January 2015. This marks the 36 th  consecutive month of year-over-year growth. Over this nearly three-year period, house prices have risen by 20.1%. Similarly, the recent  release  from Standard and Poor’s (S&P) and Case-Shiller indicates that their measure of national house prices, the House Price Index – National, rose by 4.5% on a year-over-year seasonally adjusted basis. This is the 33 rd ...

If you've been thinking about buying a home, it's the perfect time to start the conversation! Contact me today at 571-970-7191 or whitney@whitneyminnich.com. Setting the Record Straight: Top Home Buying Myths by Courtney Soinski Whether you’re a real estate professional or first-time home buyer, the home buying process and real estate transactions can be stressful.  There tends to be some common misconceptions in this process, so it’s very important that you’re well informed of what is fact and what is fiction.  We’re here to set the record straight. Myth #1:  You don’t need a REALTOR®. Before you bravely take on one of the biggest purchases or sales of your life, remember this: it’s not as easy as it looks.  REALTORS® know all the ins and outs of the local area as well as the market in which you’re looking to buy or sell.  Picking up the phone and calling a REALTOR® may be one of the best decisions you’ll make. Myth #2:  The bigger the downpa...