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Zig Zag Riverfront 1922 Cabin

by Liz Warren

Zig Zag Riverfront Cabin Built in 1922

     Stone Fireplace in Zig Zag Riverfront Cabin        Mt. Hood Cabin Primary Bedroom

Here's a great mountain getaway. Located in the Mt. Hood National Forest and only 10 minutes to skiing. You can forget the long lines of traffic trying to get to the slopes on the weekend. This charmer has a lot to offer. Two bedrooms, stone fireplace, comfortable great room with pellet stove and paned windows to enjoy the forest. Huge decks for barbecues too. $299,000

Bear Issues on Mt. Hood

by Liz Warren

It appears there are increasing problems not only in the Mt. Hood area but in Hood River also. This information recently appeared concerning bears in the Hood River area and some tips from ODFW

Oregon Fish and Wildlife ODFW responds to garbage bear problems in Hood River area; Residents reminded it is against the law to feed wildlife in Oregon Black bears June 24, 2022 HOOD RIVER, Ore. – ODFW is urging residents in the Hood River area and other towns along the Cascades to take steps to prevent bear problems. The bears have torn down bird feeders, gotten into trash cans and a smoker, damaged fences and dug up gardens. The bears have been repeatedly seen around homes during the day and appear undeterred by efforts to haze them such as setting off car alarms or using other noise-making techniques. "Black bears are moving through neighborhoods in the Hood River area looking for a free meal," said Jeremy Thompson, ODFW district wildlife biologist based in The Dalles. "Garbage cans left unsecured and bird feeders are the main attractants that we’ve seen this spring." Once a bear gains access to human food or garbage and becomes habituated it can lose its natural fear of humans, which can lead to a variety of safety problems for both people and bears.

ODFW will not relocate bears it considers habituated, because these bears simply return or repeat the behavior elsewhere. "It’s unfortunate to have to put down a bear that is a public safety risk simply because it got easy access to food from people," added Thompson. It is illegal to either directly or indirectly feed bears (ORS 496.730) and can result in a criminal citation (Class A misdemeanor) by Oregon State Police.

Some basic safety tips include: Never feed bears. Store garbage cans in a garage or shed or purchase bear-resistant garbage cans if possible. Put garbage cans out just before pick-up. Keep pet food inside. Remove bird feeders. Keep BBQ grills and smokers clean or in garage. Clean up fruit under fruit trees. Keep all food stored outdoors (patio refrigerators, etc.) locked As bears are in the area,

ODFW also shares advice for what to do if you encounter a bear: STOP: Never approach a bear at any time for any reason. If you see bear cubs, leave the area. GIVE IT SPACE: Give any bear you encounter a way to escape. STAY CALM: Do not run or make sudden movements. Face the bear and slowly back away. AVOID EYE CONTACT: Don't make eye contact with the bear. DON'T RUN: It may encourage the bear to chase you. FIGHT BACK: In the unlikely event you are attacked, fight back, shout, be aggressive, use rocks, sticks and hands.

Todays Housing Market Isn't in a Bubble on Mt. Hood

by Liz Warren

Two Reasons Why Today’s Housing Market Isn’t a Bubble on Mt. Hood

Two Reasons Why Today’s Housing Market Isn’t a Bubble | MyKCM
 

You may be reading headlines and hearing talk about a potential housing bubble or a crash, but it’s important to understand that the data and expert opinions tell a different story. A recent survey from Pulsenomics asked over one hundred housing market experts and real estate economists if they believe the housing market is in a bubble. The results indicate most experts don’t think that’s the case (see graph below):

Two Reasons Why Today’s Housing Market Isn’t a Bubble | MyKCMAs the graph shows, a strong majority (60%) said the real estate market is not currently in a bubble. In the same survey, experts give the following reasons why this isn’t like 2008:

  • The recent growth in home prices is because of demographics and low inventory
  • Credit risks are low because underwriting and lending standards are sound

If you’re concerned a crash may be coming, here’s a deep dive into those two key factors that should help ease your concerns.

1. Low Housing Inventory Is Causing Home Prices To Rise

The supply of homes available for sale needed to sustain a normal real estate market is approximately six months. Anything more than that is an overabundance and will causes prices to depreciate. Anything less than that is a shortage and will lead to continued price appreciation.

As the graph below shows, there were too many homes for sale from 2007 to 2010 (many of which were short sales and foreclosures), and that caused prices to tumble. Today, there’s still a shortage of inventory, which is causing ongoing home price appreciation (see graph below):

Two Reasons Why Today’s Housing Market Isn’t a Bubble | MyKCMInventory is nothing like the last time. Prices are rising because there’s a healthy demand for homeownership at the same time there’s a limited supply of homes for sale. Odeta Kushi, Deputy Chief Economist at First American, explains:

“The fundamentals driving house price growth in the U.S. remain intact. . . . The demand for homes continues to exceed the supply of homes for sale, which is keeping house price growth high.”

2. Mortgage Lending Standards Today Are Nothing Like the Last Time

During the housing bubble, it was much easier to get a mortgage than it is today. Here’s a graph showing the mortgage volume issued to purchasers with a credit score less than 620 during the housing boom, and the subsequent volume in the years after:

Two Reasons Why Today’s Housing Market Isn’t a Bubble | MyKCMThis graph helps show one element of why mortgage standards are nothing like they were the last time. Purchasers who acquired a mortgage over the last decade are much more qualified than they were in the years leading up to the crash. Realtor.com notes:

. . . Lenders are giving mortgages only to the most qualified borrowers. These buyers are less likely to wind up in foreclosure.”

Bottom Line

A majority of experts agree we’re not in a housing bubble. That’s because home price growth is backed by strong housing market fundamentals and lending standards are much tighter today. If you have questions, let’s connect to discuss why today’s housing market is nothing like 2008.

Home Equity Gains on Mt. Hood

by Liz Warren

The Average Homeowner Gained $64K in Equity over the Past Year

The Average Homeowner Gained $64K in Equity over the Past Year | MyKCM
 

If you own a home, your net worth likely just got a big boost thanks to rising home equity. Equity is the current value of your home minus what you owe on the loan. And today, based on recent home price appreciation, you’re building that equity far faster than you may expect – here’s how it works.

Because there’s an ongoing imbalance between the number of homes available for sale and the number of buyers looking to make a purchase, home prices are on the rise. That means your home is worth more in today’s market because it’s in high demand. As Patrick Dodd, President and CEO of CoreLogicexplains:

“Price growth is the key ingredient for the creation of home equity wealth. . . . This has led to the largest one-year gain in average home equity wealth for owners. . . .”

Basically, because your home value has likely climbed so much, your equity has increased too. According to the latest Homeowner Equity Insights from CoreLogicthe average homeowner’s equity has grown by $64,000 over the last 12 months.

While that’s the nationwide number, if you want to know what’s happening in your area, look at the map below. It breaks down the average year-over-year equity growth for each state using the data from CoreLogic.

The Average Homeowner Gained $64K in Equity over the Past Year | MyKCM

The Opportunity Your Rising Home Equity Provides

In addition to building your overall net worth, equity can also help you achieve other goals like buying your next home. When you sell your current house, the equity you built up comes back to you in the sale. In a market where homeowners are gaining so much equity, it may be just what you need to cover a large portion – if not all – of the down payment on your next home.

So, if you’ve been holding off on selling or you’re worried about being priced out of your next home because of today’s ongoing home price appreciation, rest assured your equity can help fuel your move.

Bottom Line

If you’re planning to make a move, the equity you’ve gained can make a big impact. To find out just how much equity you have in your current home and how you can use it to fuel your next purchase, let’s connect so you can get a professional equity assessment report on your house.

We're Up to 23 Listings on Mt. Hood!

by Liz Warren

More Listings coming to Mt. Hood real estate market

Is the Housing Market Correcting on Mt. Hood?

by Liz Warren

Is the Housing Market Correcting on Mt. Hood?

Is the Housing Market Correcting? | MyKCM
 

If you're following the news, all of the headlines about conditions in the current housing market may leave you with more questions than answers. Is the boom over? Is the market crashing or correcting? Here’s what you need to know.

The housing market is moderating compared to the last two years, but what everyone needs to remember is that the past two years were record-breaking in nearly every way. Record-low mortgage rates and millennials reaching peak homebuying years led to an influx of buyer demand. At the same time, there weren’t enough homes available to purchase thanks to many years of underbuilding and sellers who held off on listing their homes due to the health crisis.

This combination led to record-high demand and record-low supply, and that wasn’t going to be sustainable for the long term. The latest data shows early signs of a shift back to the market pace seen in the years leading up to the pandemic – not a crash nor a correction. As realtor.com says:

The housing market is at a turning point. . . . We’re starting to see signs of a new direction, . . .”

Home Showings Then and Now

The ShowingTime Showing Index tracks the traffic of home showings according to agents and brokers. It’s a good indication of buyer demand. Here’s a look at that data going back to 2019 (see graph below):

Is the Housing Market Correcting? | MyKCM

The 2019 numbers give a good baseline of pre-pandemic demand (shown in gray). As the graph indicates, home showings skyrocketed during the pandemic (shown in blue). And while current buyer demand has begun to moderate slightly based on the latest data (shown in green), showings are still above 2019 levels.

And since 2019 was such a strong year for the housing market, this helps show that the market isn’t crashing – it’s just at a turning point that’s moving back toward more pre-pandemic levels.

Existing Home Sales Then and Now

Headlines are also talking about how existing home sales are declining, but perspective matters. Here’s a look at existing home sales going all the way back to 2019 using data from the National Association of Realtors (NAR) (see graph below):

Is the Housing Market Correcting? | MyKCM

Again, a similar story emerges. The pandemic numbers (shown in blue) beat the more typical year of 2019 home sales (shown in gray). And according to the latest projections for 2022 (shown in green), the market is on pace to close this year with more home sales than 2019 as well.

It’s important to compare today not to the abnormal pandemic years, but to the most recent normal year to show the current housing market is still strong. First American sums it up like this:

“. . . today’s housing market looks a lot like the 2019 housing market, which was the strongest housing market in a decade at the time.”

Bottom Line

If recent headlines are generating any concerns, look at a more typical year for perspective. The current market is not a crash or correction. It’s just a turning point toward more typical, pre-pandemic levels. Let’s connect if you have any questions about our local market and what it means for you when you buy or sell this year.

          

Wildfire Tips for Mt. Hood

by Liz Warren

If you're looking for some good Mt. Hood Wildfire tips, this is a great site to visit and review for preparation:

Wildfire Tips for Mt. Hood

What's the Future of the Mt. Hood Real Estate Market?

by Liz Warren

What Does the Rest of the Year Hold for the Housing Market?

What Does the Rest of the Year Hold for the Housing Market? | MyKCM
 

If you’re thinking of buying or selling a house, you’re at an exciting decision point. And anytime you make a big decision like that, one thing you should always consider is timing. So, what does the rest of the year hold for the housing market? Here’s what experts have to say.

The Number of Homes Available for Sale Is Likely To Grow

There are early signs housing inventory is starting to grow and experts say that should continue in the months ahead. According to Danielle Hale, Chief Economist at realtor.com:

“The gap between this year’s homes for sale and last year’s is one-fifth the size that it was at the beginning of the year. The catch up is likely to continue, . . . This growth will mean more options for shoppers than they’ve had in a while, even though inventory continues to lag pre-pandemic normal.”

  • As a buyer, having more options is welcome news. Just remember, housing supply is still low, so be ready to act fast and put in your best offer up front.
  • As a seller, your house may soon face more competition when other sellers list their homes. But the good news is, if you’re also buying your next home, having more options to choose from should make that move-up process easier.

Mortgage Rates Will Likely Continue To Respond to Inflationary Pressures

Experts also agree inflation should continue to drive up mortgage rates, albeit more moderately. Odeta Kushi, Deputy Chief Economist at First Americansays:

“… ongoing inflationary pressure remains likely to push mortgage rates even higher in the months to come.”  

  • As a buyer, work with trusted real estate professionals, including your lender, so you can learn how rising mortgage rate environments impact your purchasing power. It may make sense to buy now before it costs more to do so, if you’re ready.
  • As a seller, rising mortgage rates are motivating some homeowners to make a move up sooner rather than later. If you’re planning to buy your next home, talk to a trusted real estate advisor to decide how to time your move.

Home Prices Are Projected To Continue To Climb

Home prices are forecast to keep appreciating because there are still fewer homes for sale than there are buyers in the market. That said, experts agree the pace of that appreciation should moderate – but home prices won’t fall. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:

“Prices throughout the country have surged for the better part of two years, including in the first quarter of 2022. . . Given the extremely low inventory, we're unlikely to see price declines, but appreciation should slow in the coming months.” 

  • As a buyer, continued home price appreciation means it’ll cost you more to buy the longer you wait. But it also gives you peace of mind that, once you do buy a home, it will likely grow in value. That makes it historically a good investment and a strong hedge against inflation.
  • As a seller, price appreciation is great news for the value of your home. Again, lean on a professional to strike the right balance of the best conditions possible for both selling your house and buying your next one.

Bottom Line

Whether you’re a homebuyer or seller, you need to know what’s happening in the housing market, so you can make the most informed decision possible. Let’s connect to discuss your goals and what lies ahead, so you can pick your best time to make a move.

Craftsman Style Zig Zag Riverfront Cabin

by Liz Warren

Caution, dream cabin just hit the market!

This is one of the larger cabins in the Mt. Hood National Forest on the Zig Zag River. Lots of craftsman touches and plenty of room for friends and family. Open great room with log accents. Floor to ceiling windows with lots of natural light. Three bedrooms, one bath with over 1400 square feet. Outstanding location on the Zig Zag River! Enjoy the outdoors on your huge deck!  $510,000

Zig Zag Riverfront Cabin With Soaring Fireplace

Mt. Hood Waterfront Cabin near Government Camp          Zig Zag River on Mt. Hood

Soaring Ceiling in this Craftsman Style Zig Zag Riverfront Cabin near Mt. Hood

Displaying blog entries 191-200 of 491

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