Timberline Lodge Catches Fire: News Release
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If you’re planning to move soon, you might be wondering if there'll be more homes to choose from, where prices and mortgage rates are headed, and how to navigate today’s market. If so, here's what the professionals are saying about what’s in store for this season.
Odeta Kushi, Deputy Chief Economist, First American:
“. . . it seems our general expectation for the spring is that we will see a pickup in inventory. In fact, that already seems to be happening. But it won’t necessarily be enough to satiate demand.”
Lisa Sturtevant, Chief Economist, Bright MLS:
“There is still strong demand, as the large millennial population remains in the prime first-time homebuying range.”
Danielle Hale, Chief Economist, Realtor.com:
“Where we are right now is the best of both worlds. Price increases are slowing, which is good for buyers, and prices are still relatively high, which is good for sellers.”
Skylar Olsen, Chief Economist, Zillow:
“There are slightly more homes for sale than this time last year, and there is still plenty of competition for well-priced houses. Buyers should prep their credit scores and sellers should prep their properties now, attractive listings are going pending in less than a month, and time on market will shrink in the weeks ahead.”
Jiayi Xu, Economist, Realtor.com:
“While mortgage rates remain elevated, home shoppers who are looking to buy this spring could find more affordable homes on the market than they saw at the same time last year. Specifically, there were 20.6% more homes available for sale ranging between $200,000 and $350,000 in February 2024 than a year ago, surpassing growth in other price ranges.”
If you’re looking to sell, this spring might be your sweet spot because there just aren’t many homes on the market. Sure, inventory is rising, but it’s nowhere near enough to meet today’s buyer demand. That’s why they’re still selling so quickly.
If you’re looking to buy, the growing number of homes for sale this spring means you’ll have more choices than this time last year. But be prepared to move quickly since there’ll be plenty of competition with other buyers.
No matter what you're planning, let’s team up to confidently navigate the busy spring housing market.
Ski Bowl Info for Tonight's Celebration straight from their website!
Press release from the Mt. Hood National Forest
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This information is direct from Clackamas County's website concerning unincorporated Clackamas County STR's registration information.
Short-term rental (STR) owner/operator registration form now online
Deadline Dec. 6; Only STRs in unincorporated areas affected
The registration form for owners/operators of short-term rentals (STRs) in unincorporated Clackamas
County is now online at www.clackamas.us/str.
In September, the Board of County Commissioners unanimously approved STR rules and regulations after
two public hearings were held on the issue. The regulations take effect after 90 days from that time,
meaning that applications are due to Clackamas County by end of day on Wednesday, Dec. 6.
Registration forms at www.clackamas.us/str can be completed and emailed into [email protected]
or mailed to the county’s finance department:
Clackamas County Finance Department
c/o STR Registration
Suite 490
2051 Kaen Road
Oregon City, OR 97045
Registration forms can also be delivered in person to the finance department as well. Appointments
can be made by emailing [email protected].
Within 30 days after receiving an accurate and complete registration form, county staff will provide
registration confirmation.
Per the regulations, registration for owners/operators is mandated. No STR may be publicly advertised
for rent unless it has been registered with Clackamas County. Full STR regulations can be found at www.clackamas.us/str.
STR owners will continue to pay the county’s transient lodging tax (TLT) of 6%, and pay a newly-enacted
.85% STR user fee on total rental amounts. Payment of TLTs will continue to be made at www.clackamas.us/finance/transient.html. Payments for the .85% user fee will be able to be
made at www.clackamas.us/str.
The first payments to Clackamas County for the .85% user fees will be due on Jan. 15, 2024, for the
time period of Dec. 7, 2023 – Dec. 31, 2023. Future payments will be due on the 15th of each month for
the fees associated with the full previous calendar month. Any STR owner/operator that is not registered
risks non-compliance, which is detailed in the regulations available at www.clackamas.us/str.
As the regulations only affect the unincorporated areas of Clackamas County, registrations are only due
from owners/operators of STRs within unincorporated Clackamas County – there is no effect on STRs
located within city limits.
The Board of County Commissioners intends to revisit these regulations in two years to evaluate the
cost and efficacy of the program and make a determination whether to continue, amend, or discontinue
the regulations.
Future STR updates can also be found at www.clackamas.us/str. STR owners and interested parties
with questions can email [email protected].
Rules will affect STRs in unincorporated areas in 90 days
The Board of County Commissioners unanimously approved rules and regulations regarding short-term rentals (STRs) earlier today. The action was taken after two public hearings were held on the issue – one earlier today, and one last month.
The regulations will take effect after 90 days (Dec. 6), and only affect the unincorporated areas of Clackamas County – there will be no effect on STRs located within city limits.
The Board of County Commissioners intends to revisit these regulations in two years in order to evaluate the cost and efficacy of the program and make a determination whether to continue, amend, or discontinue the regulations.
Residents are encouraged to review the STR regulations, which were adopted as presented at this morning’s Business Meeting. Those regulations can be found online on the county’s STR webpage where future updates can be found.
Before going into effect, the county will post the registration application (for owners/operators) online.
The Board of County Commissioners was effusive in their thanks this morning to the many members of the public that provided testimony in person and over Zoom at both public hearings, as well as many more that emailed in their perspectives. Changes were made to the proposed regulations in-between the time of the first and second public hearings in response to community input. Watch today’s hearing.
Clackamas County currently has no STR regulations. These new regulations will require all STRs in unincorporated Clackamas County to register with the county. The process will be free and an in-home inspection will not be required. When registering, the property owner and/or manager will certify that the property meets safety standards and that they will abide by the STR program rules. These include, but are not limited to:
Clackamas County encourages any residents/parties to cooperate directly to resolve conflicts arising from an STR. First attempts to remedy violations should be to contact the posted STR representative. If a person does not respond within 24 hours or does not adequately remedy the issue, the county should be notified. Further details:
Members of the media may contact Clackamas County Public Affairs’ Dylan Blaylock. STR owners and interested parties with questions can contact Policy Advisors Caroline Hill or Everett Wild at 503-655-8581 or [email protected].
Have you ever wondered how inflation impacts the housing market? Believe it or not, they’re connected. Whenever there are changes to one, both are affected. Here’s a high-level overview of the connection between the two.
Shelter inflation is the measure of price growth specific to housing. It comes from a survey of renters and homeowners that’s done by the Bureau of Labor Statistics (BLS). The survey asks renters how much they’re paying in rent, and homeowners how much they’d rent their homes for, if they weren’t living in them.
Much like overall inflation measures the cost of everyday items, shelter inflation measures the cost of housing. And for four consecutive months, based on that survey, shelter inflation has been coming down (see graph below):
Why does this matter? Well, shelter inflation makes up about one-third of overall inflation, as measured by the Consumer Price Index (CPI). So, when shelter inflation moves, it leads to noticeable moves in overall inflation. That means the recent dip in shelter inflation might be a sign that overall inflation could fall in the months ahead.
That moderation would be a welcome sight for the Federal Reserve (the Fed). They’ve been working to get inflation under control since early 2022. While they’ve made some headway (it peaked at 8.9% in the middle of last year), they’re still trying to get to their 2% goal (the latest report is 3.3%).
What’s the Fed been doing to lower inflation? They’ve been increasing the Federal Funds Rate. That interest rate influences how much it costs banks to borrow money from each other. When inflation climbed, the Fed responded by raising the Federal Funds Rate to keep the economy from overheating.
The graph below shows the relationship between the two. Each time inflation (shown in the blue line) starts to climb, the Fed raises the Federal Funds Rate (shown in the orange line) to try to get it back to their target of 2% (see below):
The circled portion of the graph shows the most recent spike in inflation, the Fed’s actions to raise the Federal Funds Rate to fight that, and the moderation of inflation that happened in response to that hike. As inflation gets closer to the Fed’s current 2% goal, they may not need to raise the Federal Funds Rate much further.
So, what does all of this mean for you? While the actions coming out of the Fed don’t determine mortgage rates, they do have an impact. As Mortgage Professional America (MPA) explains:
“. . . mortgage rates and inflation are connected, however indirectly. When inflation rises, mortgage rates rise to keep up with the value of the US dollar. When inflation drops, mortgage rates follow suit.”
While no one can predict the future for mortgage rates, it’s encouraging to see the signs of moderating inflation in the economy.
Whether you’re looking to buy, sell, or just stay informed about the housing market, let’s connect.
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Here's the latest announcement:
Board holding public hearings for short-term rental regulations. Public strongly encouraged to provide feedback; Rules would affect STRs in unincorporated areas The Board of County Commissioners has approved moving forward with a public hearing process to consider implementing rules and regulations regarding short-term rentals (STRs).
This action triggers two future public hearings on the proposed regulations. The next hearing is slated for during the board’s regular weekly Business Meeting September 7th at 10:00 a.m. The public is encouraged to provide testimony at these hearings. Residents and interested parties can do so either in-person or over Zoom. If the County Code is amended, the regulations will take effect only within the unincorporated areas of Clackamas County – there would be no effect on STRs located within city limits.
This program is considered to be a pilot program, and would be in effect for two years from the time of being enacted. Proposed changes Clackamas County currently has no STR regulations. Proposed regulations would require all STRs in unincorporated Clackamas County to register with the county. The process would be free and an in-home inspection would not be required.
When registering, the property owner and/or manager would certify that the property meets safety standards and that they will abide by the STR program rules. These include, but are not limited to: STR owners will continue to pay the county’s transient lodging tax (6%) The proposed STR regulations impose a .85% user fee on the total rental amount No STR may be publicly advertised for rent unless it has been registered with Clackamas County STRs shall comply with all building and fire standards STR registration identification numbers shall be included on any advertisement or rental platform Name/contact information of a party responsible for the STR shall be posted at all times while paying guests are on the property, in an area and size readily visible from the nearest public roadway. That person/company must be available 24/7 and able to respond to complaints within two hours. The number of STR occupants shall not exceed the number authorized in the registration. Twelve occupants is the maximum. Notice shall be clearly posted in the STR that identifies and informs occupants of the county's noise control ordinance Adequate parking – one off-street motor vehicle space per sleeping area – is required Vehicles shall never block access for emergency vehicles, access to the premise, or a parked motor vehicle. These violations, or other parking performed in a manner that violates the county's current parking and towing ordinance standards, may subject the offending vehicle to immediate tow. The proposed STR regulations do not apply to hotels, motels, bed and breakfast facilities, hostels, campgrounds, recreational vehicle camping facilities, or organizational camps
Violations
Clackamas County encourages any residents/parties to cooperate directly to resolve conflicts arising from an STR. First attempts to remedy violations should be to contact the posted STR representative. If that person does not respond within 24 hours or does not adequately remedy the issue, the county should be notified. Further details: Clackamas County reserves the right to immediately revoke registration if it determines an STR is a fire or life safety risk Clackamas County reserves the right to review pertinent financial records or visit the STR to ensure violations have been resolved at any reasonable time When noncompliance of the STR regulation is suspected, the county shall issue two warnings in writing An owner that operates an STR without an approved registration or while suspended shall be subject to penalties Next steps As this action is a potential county ordinance change, two public hearings at least 13 days apart are required. After that time if passed, the ordinance would be effective after 90 days or immediately if the Board declared an emergency. Before going into effect, the county would post the registration application online.
Interested parties can provide testimony during the public hearings at the two Business Meetings, and can also submit written comments for the record to [email protected] with the subject line “STR Regulation Comments.” The full proposed regulations can be found online. STR owners and interested parties with questions can contact:
Policy Advisors Caroline Hill or Everett Wild at
or
Future updates about the project and public hearings can be found at
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Displaying blog entries 11-20 of 363