Portland Metro Real Estate Review

Budgeting Issues

Thu, 12 Nov 2009 18:45:46 -0600

Oregon has just been named as one of 10 U.S. states at greatest peril of following California over a state budgetary cliff.

The national economy has begun to rebound but Oregon is likely to have a harder time. Unemployment is expected to remain high, which leads to lower tax revenues, which makes coming up with enough money to pay for schools and other public services difficult.

On top of high unemployment rates voter mandates that include long sentences for repeat criminal offenders mean some budget cuts are off limits.

California drew national attention to the risk that states would go broke when it had to issue IOUs to contractors and taxpayers this year because it simply could not pay for essential state services. So now other states are being studied to see if similar issues are surfacing around the country.

There are some options that Oregon voters have to counteract this possible catastrophe. They could give lawmakers more leeway in the spending and taxing decisions. Most importantly they could reverse the mandatory kicker rebate that Oregonians get when there is left over money, this prevents the state from acquiring any reserves for a rainy day.

These options are long term solutions though and some tough choices need to be made to save us in the next year or two.

http://www.oregonlive.com/politics/index.ssf/2009/11/oregon_among_10_states_at_grea.html

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Bottoming Out?

Tue, 10 Nov 2009 18:16:35 -0600

The majority of U.S. cities experienced an upswing in the median price of single-family homes sold during the three months that ended Sept. 30th. This is the second consecutive quarter of gains. Nation wide the median home price went up $7,000 from the previous quarter.

The number of homes on the market has started to decrease indicating that we are closer to price stabilization. The concern is maintaining a steady number of buyers who are employed and therefore qualified to buy a home.

Much of the recent increase in home prices has been attributed to the government's first-time homebuyer tax credit. Which is probably why an extension and expansion to that credit was approved recently.

The $8,000 tax credit to first time buyers was scheduled to expire on Dec. 1st. Now, not only will it be in effect through the end of June, but those who have owned and occupied a residence for the last five years (out of eight) can trade up and get a $6,500 tax credit. Homebuyers must sign a contract before April 30 and close by June 30. The income limits were also raised: Single buyers can now earn up to $125,000 and still get the full credit while a married couple can earn $225,000.

This could be as helpful, or maybe even more helpful then the previous version because so many more people will qualify.

http://money.cnn.com/2009/11/10/real_estate/latest_home_prices/index.htm

http://money.cnn.com/2009/11/06/real_estate/tax_credit_extended/index.htm

PLEASE CHECK OUT OUR WEBSITE http//:www.TonyandLibby.com & OUR NEW PORTLAND METRO BLOG AT http//:www.TonyandLibby.blogspot.com & pdxrealtynews.com (make sure you leave comments)

1932 NW 143rd Ave #73, Portland OR

Fri, 16 Oct 2009 18:35:33 -0500

The Tony and Libby Kelly Group | Keller Williams Portland Premiere | 503-753-7300

1932 NW 143rd Ave #73, Portland, OR

2BR/1BA Condo

offered at $137,000

Year Built	1992
Sq Footage	814
Bedrooms	2
Bathrooms	1 full, 0 partial
Floors	1
Parking	Unspecified
Lot Size	Unspecified
HOA/Maint	$232 per month

DESCRIPTION

Adorable NW Portland Condo! This light and bright, mainfloor, condo features an open kitchen with elegant tile counters & backsplash, updated stainless steel appliances, and opens to family room. Spacious family room includes crown moldings and slider to private/fenced backyard. Bathroom features lovely tile counters/backsplash and modern double square sinks.

see additional photos below

PROPERTY FEATURES

- Family room

- Yard

COMMUNITY FEATURES

- Swimming pool(s)

- Sauna/Spa

ADDITIONAL PHOTOS

Front	Light Filled Living Room
Kitchen Tile Backsplash	Kitchen Open to Family Rm
Family Room to Kitchen	Family Room
Designer Sink/Backsplash	Second Bedroom Window
Second Bdrm	Bedroom
Bedroom Window	Bedroom Closet
Backyard	Fenced Yard
Condo Sign	Condo Pool

Contact info:

The Tony and Libby Kelly Group

Keller Williams Portland Premiere

503-753-7300

For sale by agent/broker

Equal Opportunity Housing

Posted: Oct 16, 2009, 3:22pm PDT

Bringing Predators to Justice

Thu, 15 Oct 2009 13:14:31 -0500

As we all know by now, the current state of the economy was created by mortgage lenders who were giving out money to people who did not previously qualify.

In the aftermath, many are now taking these banks to court for unfair and predatory practices. Banks have been going through these lawsuits for years but recently the number has jumped. Some have already settled out of court for millions of dollars. Banks like Wells Fargo and Countrywide have been sued by homeowners in an effort to keep their homes.

Some are seeking money for damages because they've already lost their house or paid off their mortgage. Others are looking for a loan modification, they just want their mortgage to be affordable.

Many have joined in on class action lawsuits because they do not agree with practices like high interest rates, misleading introductory rates and lack of income verification. These practices are called predatory because these loans are pretty much unaffordable, and given to people who do not understand what they are signing.

An example of these unaffordable loans is the originated payment option adjustable-rate mortgage. This type of loan allows borrowers to make very low monthly payments, and the unpaid interest is then added to the principal.

Even the NAACP is suing claiming discrimination against minority borrowers.

The largest predatory lending settlement was with Bank of America. They agreed to spend $8.4 billion to lower the interest rates or loan balances of nearly 400,000 Countrywide customers with subprime loans or payment option ARMs. This made the number one mortgage lender in the country accountable for putting borrowers in loans they didn't understand, couldn't afford and could not get out of.

http://money.cnn.com/2009/10/08/news/economy/Predatory_lending_lawsuits_increase/index.htm?postversion=2009100907

PLEASE CHECK OUT OUR WEBSITE http//:www.TonyandLibby.com & OUR NEW PORTLAND METRO BLOG AT http//:www.TonyandLibby.blogspot.com & pdxrealtynews.com (make sure you leave comments)

19839 NE Flanders St, Portland OR

Wed, 14 Oct 2009 12:30:14 -0500

The Tony and Libby Kelly Group | Keller Williams Portland Premiere | 503-753-7300

19839 NE Flanders St, Portland, OR

Absolutely charming Portland One Level! This lovely, move-in ready home features cul-de-sac location, hardwood floors, spacious living room/family roo

3BR/1.5BA Single Family House

offered at $179,500

Year Built	1962
Sq Footage	1,169
Bedrooms	3
Bathrooms	1 full, 1 partial
Floors	1
Parking	Unspecified
Lot Size	8,850 sqft
HOA/Maint	$0 per month

DESCRIPTION

Absolutely charming Portland One Level! This lovely, move-in ready home features cul-de-sac location, hardwood floors, spacious living room/family room w/ fireplace, newer windows, newer hot water heater, & updated plumbing system. Fantastic, extra large backyard w/huge covered patio & spacious shed. Great for first time home buyers! Not a short sale, just short sale pricing!

see additional photos below

PROPERTY FEATURES

- Fireplace	- Hardwood floor	- Family room
- Living room	- Balcony, Deck, or Patio	- Yard

ADDITIONAL PHOTOS

Front	Bathroom
Wood Burning Fireplace	Spacious Kitchen
Stainless Oven	Spacious Living Room
Master Hardwoods	Master Bedroom
Half Bath	Kitchen to Living Room
Beautiful Hardwoods	Second Bedroom
Third Bedroom	Backyard
Huge Covered Patio	Patio Area
Large Shed in Backyard	Park-like Backyard

Contact info:

The Tony and Libby Kelly Group

Keller Williams Portland Premiere

503-753-7300

For sale by agent/broker

Equal Opportunity Housing

Posted: Oct 13, 2009, 9:08am PDT

Grand Hotel

Fri, 09 Oct 2009 19:14:47 -0500

Was anyone besides me wondering what in the world they've been building behind the Bridgeport Whole Foods? Well the Tigard Times tells me that it is a new hotel. Someone didn't get the news about the economy. But sometimes a down economy is the perfect time to act.

A family-run Salem company called VIPS Industries opened up the Grand Hotel in August. They used to own a restaurant on this same spot but it did not work out. Then Bridgeport Village moved in and an opportunity arose. VIPS Industries always knew this location would be great, that is why they held on to it.

The new hotel has 124 rooms and suites, complimentary breakfast, meeting rooms, a pool and its own parking garage.

http://tigardtimes.com/news/story.php?story_id=125485285982056600

PLEASE CHECK OUT OUR WEBSITE http//:www.TonyandLibby.com & OUR NEW PORTLAND METRO BLOG AT http//:www.TonyandLibby.blogspot.com & pdxrealtynews.com (make sure you leave comments)

Priced By Location

Fri, 02 Oct 2009 17:57:14 -0500

We all know the saying Location! Location! Location! but how big of an impact does it really have on home value. How much would your house be worth if you picked it up and moved it across the country?

An index that come out on Wednesday compared similar homes in "move-up buyer" neighborhoods. It compares the prices charged for 2,200-square-foot, four-bedroom, two-and-one-half bath, single-family homes in more than 300 markets around the nation.

$363,401 is the average for the U.S. but in Grayling, Michigan it sells for just $112,675. That makes Grayling the most affordable market in the nation.

La Jolla, California is on the other end of the spectrum. A comparable house there will run you $2.125 million. What does La Jolla have that Grayling doesn't? Weather for one. They don't have rush hour traffic and they are 15 minutes from downtown San Diego.

Grayling has much to love, like all the outdoor activities in and around the Au Sable River, but Michigan has a much slower economy.

Variations are not only between states but within states. California holds 8 of the top 10 highest priced markets, but there are some affordable towns here too. Just north of L.A. is Lancaster where the sample home would go for $165,205 which is almost $2 million less than in La Jolla, California.

Some states have much less variation. Oklahoma's price spread is less than $10,000. In Boise, Idaho homes cost $215,432 compared with $204,518 in Coeur d'Alene

http://money.cnn.com/2009/09/23/real_estate/home_price_comparison/index.htm?postversion=2009092316

PLEASE CHECK OUT OUR WEBSITE http//:www.TonyandLibby.com & OUR NEW PORTLAND METRO BLOG AT http//:www.TonyandLibby.blogspot.com & pdxrealtynews.com (make sure you leave comments)

7-Month Consecutive Increase

Thu, 01 Oct 2009 13:41:43 -0500

Buyers know that the home buyer's tax credit deadline is approaching. It is obvious by looking at the sales contracts signed in August. There were more contracts signed in August than any other month this year. This has caused 7 consecutive months of increases in pending sales, which is a great sign.

The homes that went "under contract" in August should be closing in October or November, just before the Nov. 30 deadline for the $8,000 first time home buyer's tax credit.

Some may be trying to take advantage of this deal even now but many will be disappointed when the closing deadline isn't met. Stricter appraisal standards, delays getting a mortgage and complications associated with short sales are going to keep some from their $8,000.

In fact, some deals are not going through at all possibly causing a pending sale to be counted twice when a home has to be put back on the market and sold again. This could be inflating the numbers.

We may see a sharp decline in home sales once the credit expires so extending it could avoid another disastrous down slide. The government is thinking about whether to extend and expand the tax credit. Expanding it to all home buyers could really rev-up the market!

http://money.cnn.com/2009/10/01/real_estate/August_sales_contracts/index.htm?postversion=2009100110

PLEASE CHECK OUT OUR WEBSITE http//:www.TonyandLibby.com & OUR NEW PORTLAND METRO BLOG AT http//:www.TonyandLibby.blogspot.com & pdxrealtynews.com (make sure you leave comments)

Things Are Looking Up

Tue, 22 Sep 2009 18:53:55 -0500

Pending home sales haven't looked this good in two years and actual closed sales are looking good too. The stock market is coming back and the countries exports are rising faster than our imports.

Things can still trip up our recovery. The inventory is finally ready to go down but some home owners and banks with foreclosures may have been waiting for things to turn around to put their homes on the market. There is also the possibility that the deficit could mean higher mortgage rates. Not to mention job losses are not over and will keep the foreclosures coming.

There is still reason to be positive with inventories currently going down and prices stabilizing, it might just be the turn around we are all waiting for. Then, the jobs will come back.

http://www.realtor.org/rmonews_and_commentary/economy/0910_economy_salesup

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Dealing With REOs

Wed, 16 Sep 2009 13:45:37 -0500

Q. Recently I have had a couple sale agreements come across my desk for bank properties. In both cases none of the contracts were signed and the deals were sent to escrow with only buyer’s signatures. What is the proper procedure with files like this when an asset manager refuses or is not willing to sign any documents yet replies with a counter offer and their terms but no signatures?

A. Banks and their asset managers often have no interest in complying with real estate licensing rules or even normal residential real estate practices. Such rules and practices don't apply to buyers and sellers personally because they are not licensed. Binding contracts for sale signed by both parties are a great way to get to a deed, but there is nothing in the law that requires people to have binding contracts if they don't for some reason want one. Real estate licensees have a duty to advise their clients about the potential business (not legal) consequences of the deals they (the principals) enter into and keep copies of the actual documents the parties use in those transactions. Most REOs require the buyer to sign the REO's forms when the buyer makes an offer. Because the REO forms come after the buyer's offer, they are often thought of as (and sometimes even called) "counter offers." They often are not really “counter offers” because they are not signed by the seller. It's more like getting a buyer to sign a purchase order where the buyer agrees to purchase if and when the seller actually agrees to sell. That isn't illegal. Nor does it prevent opening escrow. It just puts the seller in the driver's seat all the way to closing. Buyers need to understand that without the seller's signature, it may be hard to enforce the contract. In this regard, a follow-up email or letter to the seller through the listing agent saying "we understand we have a transaction and will rely on the terms of that transaction to make expenditures and forego other purchase opportunities" will help clarify the buyer's position. You will want to log onto the Oregon Association's webpage at www.OregonRealtors.org and visit the Risk Management Toolkit to look at the new section entitled: "Dealing with REOs.”

PLEASE CHECK OUT OUR WEBSITE http//:www.TonyandLibby.com & OUR NEW PORTLAND METRO BLOG AT http//:www.TonyandLibby.blogspot.com & pdxrealtynews.com (make sure you leave comments)

31517 SW Orchard Drive, Wilsonville OR

Fri, 04 Sep 2009 16:37:44 -0500

The Tony and Libby Kelly Group | Keller Williams Portland Premiere | 503-753-7300

31517 SW Orchard Drive, Wilsonville, OR

Stunning Moreys Landing Traditional. This exquisitely remodeled Wilsonville home features soaring vaulted ceilings, modern designer interior colors, g

4BR/2.5BA Single Family House

offered at $419,000

Year Built	2000
Sq Footage	2,730
Bedrooms	4
Bathrooms	2 full, 1 partial
Floors	2
Parking	3 Car garage
Lot Size	.18 acres
HOA/Maint	$10 per month

DESCRIPTION

Stunning Moreys Landing Traditional. This exquisitely remodeled Wilsonville home features soaring vaulted ceilings, modern designer interior colors, gleaming Brazilian walnut hardwoods, true gourmet kitchen w/slab granite, hi-end cabs & stainless appls, dbl-ovn, plus custom cntr isle. Large bonus room. Large backyard w/custom stamped concrete patio, garden & lovely landscaping.

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- Fireplace
- High/Vaulted ceiling	- Hardwood floor	- Family room
- Living room	- Bonus/Rec room	- Office/Den
- Dining room	- Breakfast nook	- Granite countertop
- Laundry area - inside	- Balcony, Deck, or Patio	- Yard

ADDITIONAL PHOTOS

Front	Custom Island
Living Room	Family Room
HD Theatre Room	Master w/Vaulted Ceiling
Master Bath	Laundry Room
Second Bedroom	Third Bedroom
Fourth Bedroom	Full Bath
Office	Office French Doors
Slab Granite	Bonus Room
Backyard	Stamped Concrete Patio

Contact info:

The Tony and Libby Kelly Group

Keller Williams Portland Premiere

503-753-7300

For sale by agent/broker

Equal Opportunity Housing

Posted: Sep 4, 2009, 1:23pm PDT

Tax Credit Deadline

Mon, 31 Aug 2009 18:27:59 -0500

Everyone should now know about the economic stimulus package, the credit is good for up to $8,000, or 10% of the purchase price, and applies to people who have not owned a home in the previous three years. Unlike previous credits, this one does not have to be repaid. Obviously this is something you want to get in on if you can, which is exactly the point.

This program ends on Dec. 1st, and because it usually takes around 90 days to close on a house after a contract is signed, some potential buyers are about to let an opportunity pass them by. In fact, many of the best properties are already gone in the lower price points because of those who already took advantage.

Many of the homes left are short sales which are much more difficult than bank owned properties. Because the seller has to get approval from the bank (to forgive a portion of their loan) the process can be extremely lengthy. Getting a bank to simply agree to the sale can take 3 months and by then the deadline will be over.

Many are starting to worry about a Cash for Clunkers effect. Once the credit expires, and the urgency isn't there anymore, will the housing market start heading back down again?

http://money.cnn.com/2009/08/27/real_estate/homebuyer_tax_credit_ending/index.htm?postversion=2009082715

PLEASE CHECK OUT OUR WEBSITE http//:www.TonyandLibby.com & OUR NEW PORTLAND METRO BLOG AT http//:www.TonyandLibby.blogspot.com & pdxrealtynews.com (make sure you leave comments)

13672 SW Willow Top Lane, Tigard OR

Fri, 28 Aug 2009 11:58:01 -0500

The Tony and Libby Kelly Group | Keller Williams Portland Premiere | 503-753-7300

13672 SW Willow Top Lane, Tigard, OR

Spectacular Light and Bright Bull Mountain Gem. This elegantly appointed home features slate tile flooring, vaulted ceilings, cook's kitchen

4BR/3.5BA Single Family House

offered at $299,000

Year Built	2000
Sq Footage	2,240
Bedrooms	4
Bathrooms	3 full, 1 partial
Floors	3
Parking	2
Lot Size	3,049 sqft
HOA/Maint	$48 per month

DESCRIPTION

Spectacular Light and Bright Bull Mountain Gem. This elegantly appointed home features slate tile flooring, vaulted ceilings, cook's kitchen with custom tile backsplash & wine fridge in center island, two decks with views, modern light fixtures, true designer interior paint/colors, huge lower level family room or fantastic master suite, plus office. Private gated community.

see additional photos below

PROPERTY FEATURES

- Central A/C	- Central heat	- Fireplace
- High/Vaulted ceiling	- Tile floor	- Family room
- Office/Den	- Dining room	- Balcony, Deck, or Patio

COMMUNITY FEATURES

- Gated property

- Secured entry

ADDITIONAL PHOTOS

Curb Appeal	Family Room
Center Island	Large Kitchen
Dining Room	Family Room
Kitchen	Slate Fireplace
Elegant Master	Masterbath
Master Patio	Office
Bedroom 2	Bedroom 2 Full Bath
Bedroom 3	Bedroom 4 with Vault Ceil
Main floor Deck	Custom Backsplash

Contact info:

The Tony and Libby Kelly Group

Keller Williams Portland Premiere

503-753-7300

For sale by agent/broker

Equal Opportunity Housing

Posted: Aug 26, 2009, 4:25pm PDT

Looking Up

Tue, 25 Aug 2009 11:26:25 -0500

It looks as thought the housing market maybe turning around. Home prices posted their first quarterly increase in three years. The Standard & Poor's/Case-Shiller's U.S. National Home Price Index released Tuesday rose nearly 3 percent from the first quarter.

Home prices are about the same level as early 2003. While this is much lower than the peak in 2006, those numbers were inflated anyway.

Las Vegas and Detroit were the only two of the 20 city index that did not see home prices rise, while Dallas and Denver clocked their fourth-straight monthly increase.

We still have a long way to go to recover completely because all 20 cities still show annual declines, but it is nice to take a step in the right direction.

http://www.oregonlive.com/business/index.ssf/2009/08/index_shows_quarterly_increase.html

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The Bright Side

Thu, 20 Aug 2009 18:09:04 -0500

Homes have not been this affordable in nearly two decades. In the second quarter of this year the typical American family, making the nation's median income of $64,000 a year, could afford to buy 72.3% of all homes sold in the United States. The same time last year it was only 55% of homes. This affordability, combined with the federal tax credit and historically low mortgage rates, is drawing in the first-time buyers.

Affordable specifically means a family making the metro area's median income who devote no more than 28% of their take-home pay toward housing costs.

The reason for this affordability is that home values have dropped. 30% of all homes sold during the second quarter went for less than what the sellers originally paid. This was mostly the newer home owners who had bought in the last five years when prices were rising rapidly.

So although home owners have watched the value of their investment plummet, the silver lining is affordable housing. Affordable housing means interested buyers. Interested buyers means an economic recovery.

http://money.cnn.com/2009/08/19/real_estate/most_affordable_housing_markets/index.htm?postversion=2009081914

PLEASE CHECK OUT OUR WEBSITE http//:www.TonyandLibby.com & OUR NEW PORTLAND METRO BLOG AT http//:www.TonyandLibby.blogspot.com & pdxrealtynews.com (make sure you leave comments)

Portland Market Report

Fri, 14 Aug 2009 14:35:33 -0500

July Residential Highlights

Closed sales in the Portland metro area for July 2009 eclipsed last July’s total by 8.6%, marking the first time same month closed sales have increased since April 2007. Pending sales also grew 8.3%. New listings dropped 25.4%. Comparing July 2009 with June 2009, closed sales increased 11.9% (1,988 v. 1,776) and pending sales were up a slight 0.3% (2,170 v. 2,164). New listings fell 8.2% (3,907 v. 4,257). Inventory was down to 7.3 months, dropping for the sixth consecutive month, down from 10 months last July. Inventory is falling at a time where it has historically risen. Along with an upswing in closed sales, the drop can be attributed to the fact that the number of homes on the market (14,503 in July) has seen little fluctuation in 2009

Year-to-Date

Comparing January-July 2009 with the same period in 2008, closed sales are down 18.7% and pending sales decreased 10%. New listings dropped 23.4%.

Sale Prices

The average sale price for July 2009 was down 15.2% compared to July 2008, while the median sale price declined 13.3%. Month-to-month, the average and median sale price were mixed when compared with June levels; the average sale price was down 3.7%

($288,600 v. $299,800) and the median sale price was up 0.04% ($250,000 v. $249,900).

Suburbia

Mon, 10 Aug 2009 19:03:13 -0500

A new study by the Pew Research Center has found that those who call the suburbs home are noticeably more satisfied with their community than those of cities, small towns or rural areas.

The study shows that 42 percent of suburbanites give their community high marks. The categories include cost of living, a place to raise kids, recreational/outdoor activities, climate, shopping, cultural activities and social connections.

31 percent of Americans live in a city, 26 percent in the suburbs, 26 percent in small towns and 16 percent in rural areas. Oddly, 30 percent say they would prefer to live in a small town versus 25 percent who favor the suburbs.

It sounds like some people have idealized small town life when in reality they tend to be more satisfied just outside the city. Which makes sense to me because most of the time the suburbs are the best of both worlds.

The Residential Specialist Magazine July/August 2009 Page 6

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How WALKABLE Is Your Neighborhood?

Fri, 31 Jul 2009 17:30:10 -0500

This website, http://www.walkscore.com/, is a great resourse for researching a neighborhood. Not only will it help you get a feeling for the type of area you are looking at but it will also help you find restaurants, grocery stores, parks and entertainment that are located near you.

There is also this great ranking feature that shows you which neighborhoods in your city are the most walkable.

http://www.walkscore.com/rankings/Portland

PLEASE CHECK OUT OUR WEBSITE http//:www.TonyandLibby.com & OUR NEW PORTLAND METRO BLOG AT http//:www.TonyandLibby.blogspot.com & pdxrealtynews.com (make sure you leave comments)

7575 SW 91st Ave, Portland OR

Mon, 27 Jul 2009 11:12:17 -0500

The Tony and Libby Kelly Group | Keller Williams Portland Premiere | 503-753-7300

7575 SW 91st Ave, Portland, OR

Gorgeous SW Portland home featuring stunning flr-to-ceiling windows, remod. kitchen w/granite & slate, lovely hardwds in kitchen & family room

3BR/3BA Single Family House

offered at $510,000

Year Built	1968
Sq Footage	3,086
Bedrooms	3
Bathrooms	3 full, 0 partial
Floors	Unspecified
Parking	Unspecified
Lot Size	9,326 sqft
HOA/Maint	$0 per month

DESCRIPTION

Gorgeous SW Portland home featuring stunning flr-to-ceiling windows, remod. kitchen w/granite & slate, lovely hardwds in kitchen & family room w/slate firepl, formal living & dining rooms, skylights, & master suite. Flexible lower level w/sep.entry can be used as office, bonus rm, sep.live qtrs, or converted back to BRs. Spacious backyard w/2 decks, patio & built-in hot tub.

see additional photos below

PROPERTY FEATURES

• Fireplace	• Hardwood floor	• Family room
• Living room	• Bonus/Rec room	• Office/Den
• Dining room

ADDITIONAL PHOTOS

Front	Family Room
Deck	Kitchen
Bonus Room	Master
Third Bedroom	Living Room
Exterior Entry	Office
Front Yard	Dining Room
Second Deck	Tiled Sink
Formal Living Room	Second Bedroom
Hot Tub	Path to Lower Entry

Contact info:

The Tony and Libby Kelly Group

Keller Williams Portland Premiere

503-753-7300

For sale by agent/broker

Equal Opportunity Housing

Posted: Jul 24, 2009, 1:18pm PDT

Gen Y

Thu, 23 Jul 2009 17:39:39 -0500

The Residential Specialist for July and August mentioned that half of Generation Y (born 1980-1999) plan to buy a home in the next three years.

This statement was the result of a study by The Concord Group which also found that 70 percent of those who participated in this study believe that home prices will stay where they are now, or will be higher, two years from now.

Gen Y is not down with the long commute. They say they are willing to pay a premium to live close to work.

Also found in this study is that Gen Y wants more space in their next place; want to live near alternative modes of transportation; will be putting down under 20 percent; and eventually plan on leaving the city for the suburbs.

The Residential Specialist, July/August 2009, Page 7

(In case you are a CRS member...) http://www.crs.com/magazine/trsmagazine-current.shtml

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2543 SE 101st Ave, Portland OR

Wed, 22 Jul 2009 13:34:06 -0500

The Tony and Libby Kelly Group | Keller Williams Portland Premiere | 503-753-7300

2523 SE 101st Ave, Portland, OR

2BR/2BA Condo

offered at $165,900

Year Built	2008
Sq Footage	894
Bedrooms	2
Bathrooms	2 full, 0 partial
Floors	1
Parking	Unspecified
Lot Size	Unspecified
HOA/Maint	$145 per month

DESCRIPTION

The New Tabor Pointe Condos provide a spectacular blend of affordable luxury & urban convenience. Exquisite contemporary urban residences featuring quality materials & cutting-edge design. Choice of two finishes with lovely wood flring, Maple cabinets, & designer tile. Discover life within walking distance at the neighborhood's many shops, restaurants, and nearby Max line.

see additional photos below

PROPERTY FEATURES

• Fireplace	• Hardwood floor	• Tile floor
• Living room	• Dining room

ADDITIONAL PHOTOS

Front	Pearl Greatroom
Lux Kitchen to Greatroom	Pearl Kitchen
Lux Kitchen	Pearl Fireplace
Lux Fireplace	Lux Greatroom
Pearl Kitchen/Dining Room	Pearl Master Suite
Lux Master Suite	Pearl Bathroom
Pearl Second Bedroom	Lux Second Bedroom
Pearl Kitchen Backsplash	Pearl Bathroom Sink
Lux Hardwood Floors	Pearl 2nd Bedroom Closet

Contact info:

The Tony and Libby Kelly Group

Keller Williams Portland Premiere

503-753-7300

For sale by agent/broker

Equal Opportunity Housing

Posted: Jul 22, 2009, 10:28am PDT

Portland Oregon Market Report

Mon, 20 Jul 2009 10:36:55 -0500

June Residential Highlights

This June, same-month pending sales were up for the first time since December 2006 in the Portland metro area, and inventory reached its lowest point since August 2007. Comparing June 2009 with the same month in 2008, pending sales were up 8.4%, while closed sales decreased 5.4%. New listings also dropped 18.3%. Further, comparing June 2009 with May 2009, closed sales increased 24.5% (1,776 v. 1,427) and pending sales were up 10% (2,164 v. 1,967). New listings also rose 9.7% (4,257 v. 3,879). Inventory fell to 8.2 months, dropping for the fifth consecutive month and reaching it’s lowest point since August 2007. Active listings typically rise at this time of year, but were virtually unchanged since May (14,491 v. 14,493). Conversely, actives increased 10.1% from May to June in 2007, and 4.2% in 2008

Second Quarter Report

Comparing the second quarter of 2009 (April-June) with that of 2008, closed sales fell 15.3% (4,625 v. 5,461) and pending sales dropped 3.2% (5,784 v. 5,972). New listings decreased 23.8% (12,165 v. 15,973).

Sale Prices

The average sale price for June 2009 was down 14% compared to June 2008, while the median sale price also dropped 13.5%. Month-to-month, the average and median sale price were mixed when compared with May levels; the average sale price was up 2.9% ($299,800 v. $291,400) and the median sale price was down 0.04% ($249,900 v. $250,000).

PLEASE CHECK OUT OUR WEBSITE http//:www.TonyandLibby.com & OUR NEW PORTLAND METRO BLOG AT http//:www.TonyandLibby.blogspot.com & pdxrealtynews.com (make sure you leave comments)

Hollywood Calls On Tigard

Wed, 15 Jul 2009 13:54:00 -0500

“Public Enemies,” the movie which just opened Wednesday, Johnny Depp’s plays John Dillinger who holds up banks and fights off FBI agents. If you find yourself admiring his sleek gun holster, it's because it was made in Tigard, Oregon.

Ted Blocker Holsters produced the leather holsters worn by Johnny Depp, Christian Bale, Jason Clarke and several others.

Don and Shelley Brown have owned the holster company since 1999 and produced props for several other movies. So it is nothing new for them but it does make them proud to see their products out there.

California prop house Independent Studio Services contacted Don and Shelley in January. They work with Ted Blocker Holsters on a regular basis because of their quality, speed and reliability.

Ted and Jean Blocker are gun enthusiasts who love the fast-draw. They started Ted Blocker Holsters in California in 1972 and began working with Hollywood moviemakers soon after. They moved the company to their home state of Oregon in the early 1990s because it's AWESOME here!

Over the years the company has provided holsters for “Miami Vice,” “Indiana Jones and the Last Crusade,” “The Changeling,” “Alien Nation,” “Saving Grace” and “Southland.”

Although Hollywood is not the only client. This is a major company who also works with law enforcement officers, hunters, competitive shooters and concealed carriers.

Don said he plans to go see “Public Enemies” soon after it comes out in the theater.

“I haven’t seen a movie with Johnny Depp yet that wasn’t good,” he said.

http://tigardtimes.com/news/story.php?story_id=124649681744589800

PLEASE CHECK OUT OUR WEBSITE http//:www.TonyandLibby.com & OUR NEW PORTLAND METRO BLOG AT http//:www.TonyandLibby.blogspot.com & pdxrealtynews.com (make sure you leave comments)

21493 SW Roellich Ave, Sherwood OR

Fri, 10 Jul 2009 17:35:42 -0500

The Tony and Libby Kelly Group | Keller Williams Portland Premiere | 503-753-7300

21493 SW Rollich Ave, Sherwood, OR

Pottery Barn Perfect in Sherwood’s sought-after Miller's Landing. This lovely Craftsman features a popular greatroom floor plan, large open kitchen,

4BR/2.5BA Single Family House

offered at $369,900

Year Built	2002
Sq Footage	2,422
Bedrooms	4
Bathrooms	2 full, 1 partial
Floors	2
Parking	3 Car garage
Lot Size	5,227 sqft
HOA/Maint	$0 per month

DESCRIPTION

Pottery Barn Perfect in Sherwood’s sought-after Miller's Landing. This lovely Craftsman features a popular greatroom floor plan, large open kitchen, cherry wood flring, modern designer colors, office, w/ French doors, huge vaulted Master w/ fireplace, & cent.air. Spacious backyard includes deck, water feature, & great landscaping. Neighborhood park on corner & walking paths.

see additional photos below

PROPERTY FEATURES

• Central A/C	• Central heat	• Fireplace
• Hardwood floor	• Family room	• Office/Den
• Dining room	• Balcony, Deck, or Patio	• Yard

ADDITIONAL PHOTOS

Front	Master
Office French Doors	Kitchen
Dining Room	Full Bath
Second Bedroom	Third Bedroom
Fourth Bedroom	Grand Entrance
Greatroom to Kitchen	Half Bath
Vaults in Master	Upstairs Bath
Backyard	Sideyard
Deck	Park Next Door

Contact info:

The Tony and Libby Kelly Group

Keller Williams Portland Premiere

503-753-7300

For sale by agent/broker

Equal Opportunity Housing

Posted: Jul 10, 2009, 2:27pm PDT

Housing Rebound

Tue, 07 Jul 2009 16:15:20 -0500

Though modest, pending home sales continued their rise in May for the fourth straight month. That is the first time in nearly 5 years.

It had been predicted that there would be no growth, so this was actually a pleasant surprise.

But pending does not necessarily mean that the home will sell. Sales that actually close, in relation to those that go pending, are not where they should be. Deals are delayed or falling through due to the new rules for appraisals.

Many complain that appraisals are including foreclosed properties in their list of comparable homes. Foreclosed homes tend to sell for about 20% less than regular home sales because banks are desperate to get them off their books.

With many appraisals not distinguishing between to two types of properties, homes values are being set below what is expected. This can cause lenders to back out and deals to fall through. Eventually these numbers will right themselves when we have less foreclosures, it will just take some time.

The good news is that buyers are out there putting offers on homes. This indicates a market rebound, albeit a slow one, but a recovery none-the-less.

http://money.cnn.com/2009/07/01/real_estate/May_pending_sales/index.htm?postversion=2009070110

PLEASE CHECK OUT OUR WEBSITE http//:www.TonyandLibby.com & OUR NEW PORTLAND METRO BLOG AT http//:www.TonyandLibby.blogspot.com & pdxrealtynews.com (make sure you leave comments)