In Portland, San Francisco, Minneapolis and Washington, D.C., the premium to buy--the spread between what you'd spend on renting and what you'd pay each month for a mortgage--is far narrower now than its 15-year average. And economists predict a significant home-price hike in five years. So upgrading will cost much less than usual, and home buyers are likely to get a good return on their investment.

Note that buying isn't necessarily cheaper than renting in these metro areas. In fact, it often remains a more expensive proposition. But for those determined to own, that investment is a better one now than it normally is.

Full link to article: http://www.forbes.com/2010/01/21/buying-versus-renting-lifestyle-real-estate-homes.html?partner=email

But do not worry - I am home in Portland and not moving to Asia or leaving for a trip any time soon.

I know it is late for holiday chatter, but call me, email me, or leave a comment below and let me know how your holidays were.  I would love to reconnect!

Loking forward to making "twenty-ten" (2010) a 10!!

- Sarita

To see this information, updated real-time, click here or click on the "View REAL-TIME Market Statistics" tab of my website anytime.

You can also subscribe to more detailed market reports.  Call or email me anytime for more information.

Long-term mortgage rates are near the lowest levels since Freddie Mac started keeping track in 1971, with the average 30-year fixed rate falling to 4.87 percent this week.

That’s the lowest 30-year average since falling to 4.82 percent in May. A year ago, 30-year fixed-rate mortgages were averaging 5.94 percent. Rates have been below 5 percent for four straight weeks now.

If you are thinking of re-financing, the dip in rates could mean hundreds of dollars in savings per month (the article quotes a $134/mo savings for a re-fi on a $200,000 loan taken out at rates from one year ago). 

Call me to discuss - I can put you in touch with some great lender resources.

Here are the first couple of paragraphs of the market summary for the Portland Metro area: 

I am someone who does not get flu shots because I probably erroneously think they give you the flu.  When I finally got over that and tried to get them a few years ago, there was no supply and children and pregnant women were the priority.

Well, now I am ready.  To get vaccinated for the flu and for H1N1 - and I have no idea where to go.  There seems to be no place that is a sure thing with supply in stock.  Any comments or suggestions are appreciated.   And any arguments pro or con for flu vaccines will be listened to with an open mind.

This is not going to turn into a medical blog, I promise.  But I do like to chime in on current events and there is nothing more current and top of mind then this topic as we head into weather and especially for parents.

Thanks in advance for your time and input.  Stay healthy everyone! 

10) I am from Michigan and have lived in New Jersey, Arizona, California, Massachusetts, and Oregon.

9) I am married with two kids - a 10 year old daughter and an 8 year old son.

8) We love to travel and try to travel whenever and whereever we can.

7) I love photography but I am not very good at it.  I can't tell you about f-stops and apertures but I can tell you if I take 1000 pictures I can usually get 1 or 2 good ones.

6) I majored in Electrical Engineering and I have an MBA and if anyone ever told me I would sell real estate when I was younger I'd have probably laughed.

5) I love watching sports and like basketball and NFL football but have never gotten into college football.  As a family we are super obsessed with the Portland Trailblazers and go to every game we can.

4) My favorite color is red and my favorite beverage is diet coke.

3) I love Math and numbers.  Seriously, I could do Math for fun and enjoy Soduku puzzles with my daughter.

2) I have never seen Star Wars and have not read any Harry Potter books.

1) About a year and a half ago I embarked on journey to get healthier.  I am exercising and eating better and though it is killing me, I am sort of enjoying it.

There you go - I can go back to real estate now but hopefully this gives you a glimpse of me and my weird quirks.  Feel free to comment!

I am not sure if it is the credit, the low rates (I have had clients this week get 4.875% on a 30yr fixed and 3.75% on a 5yr ARM - also at conventional, limited to $417K loan amount), the recent reports of the economy picking up, or if it is just Mercury in retrograde, it is clear to me that things are hopping and it is at the pace where I like it (crazy, intense, and awesome!).

Hope you are having a good week and would love to see your comments on anecdotal feedback on the housing market - both positive and negative news are welcome.

Thanks for reading!

Check it out and please let me know what you think... http://www.footprintnetwork.org/en/index.php/GFN/page/calculators/

In the class we had an interesting discussion about "Green-ness" - the question was is it a trend?  My first inclination was no, green is here to stay, and there are different shades of green.  Whereever you are on the continuum, you can strive to be greener and keep getting better at making sustainable choices.  And vote with your dollars, i.e. purchase from companies that are committed to the same values you hold when it comes to being aware and as kind as possible to the planet we live on.

A colleague actually answered the question differently, and I agree with his answer.  Green is a trend, that is it is a newer concept that people are taking about and trying to understand.  And yes, some agents are marketing using this new trend.  So it is a trend, but it is not a fad.  Cell phones were trends too, like smart phones and flat panel TVs.  They are here to stay, unlike fads that come and go (disco and feathered hair come to mind!). 

I will add interesting resources and tidbits from time to time.  If you want to learn more about what I learned and if you have questions, call or email me.  I'd be happy to share my learnings so we can learn from each other!

To look at inventory, we use a term called "inventory in months".  This is calculated by taking all the listings in MLS, and dividing them by the current monthly rate of sales for that month.  So, in essence, if there were no new listings, this is the number of months it would take to burn, or sell off, all of the listings.

To put this number in perspective, in our market about 6 months is a balanced market.  Greater than 6 months is a buyer's market, and less than 6 months is a seller's market.

From the chart above you can see July's decrease to 7.3 months (from June's 8.2 months) shows steady improvement - and it sure is a far cry from the 19.2 months in January!

Another interesting datapoint from the July market stats is the highlights chart, below.  The excitement to note is that closed sales for July 2009 were higher than July 2008 (by 8.6%) - this marks the first time closed sales have increased since April 2007.  Pending sales also went up from July 2009 to July 2008.  So the sales going up and the inventory going down is a sign that some much needed improvement in our housing market is under way.

Many folks call me looking for more information about what the tax credit is and isn't.  The following is an excerpt directly from the IRS:

First-time homebuyers may be able to take advantage of a tax credit for homes purchased in 2008 or 2009. The credit:

• Applies to purchases that close after April 8, 2008, and before Dec. 1, 2009.
• Applies only to homes used as a taxpayer's principal residence.
• Reduces a taxpayer's tax bill or increases his or her refund, dollar for dollar.
• Is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed.

Click here to read more and please note, I am not a tax advisor or real estate attorney.  If you want tax or legal advice, please call a CPA or attorney.

I often wonder what would happen if I didn't run into those people.  What would they do to get answers and who would they turn to?  Maybe they don't have a Realtor in their life?  Or maybe, and most likely, they want information but feel funny about "bothering" an agent to get information, knowing they are not interested in buying or selling right now.

Well, I am pleased to offer a "self-service tool" that lets you (or friends, colleagues, family, etc.) get periodic updates of market conditions in your area.  This tool is perfect for people who don't want to contact an agent but want information, and want it to be real-time.

Visit www.MarketSnapshotPortland.com to sign up and get market info the way you want it.  The market snapshot will be customized to your preferences and will be emailed to you right away.  It will then update you every 4 weeks or at a frequency more suitable for you.

Then, when you are ready to "bother" a Realtor or if you simply have questions, askSarita.com.  I am here as a resource for your real estate needs.  And I am happy to be bothered!

The 2009 NW Natural Street of Dreams “Views of the Pearl” opens August 1 and showcases four of Portland’s premiere condominium home developments, featuring nine incredible penthouses ranging in price from $1 to $2.5 million. With a focus on LEED standard and eco-friendly materials, the dream condos include the latest in home innovations and design, including wrap around balconies and hot tubs with a stunning city view. New to the show is the Pearl Pass, which is not only your ticket to the show, but also a savings card to over 80 Pearl area businesses.

Hope you enjoy it, and if you do go, please drop me a line and let me know what you thought. 

So, for now I will go for baby steps - update when I can, and strive to provide valuable information from my perspective as a Portland-based real estate agent.  Thanks for visiting, come back often and please let me know what you want to know about so I can make this something worth coming back to.  Thank you.

Welcome to my blog... this is a place you can come for information about the Portland Real Estate Market and any questions you have. Whether you want to know specifics about a property or buying or selling a home... or if your request is for a contractor referral or the pros/cons of remodeling, AskSarita. I am your real estate resource and I am here to help.