Portland Planner and Newsletter

by Geri And Tim Penner

 

 

Portland and Area Newsletter and Planner
April 28, 2023

 

WHAT'S UP THIS WEEKEND?
Excerpts From TravelPortland.com

ONE MOTO SHOW
In 2009, the very first One Moto Show was hosted in an abandoned warehouse near downtown Portland. Why? “Because we thought it’d be fun,” organizers say. The multi-day One Moto Show festival is more than just fun, however. For several days, thousands of motorcyclists (and moto-enthusiasts) roll into Portland to celebrate bikes and biker culture, with dozens of motorcycles from around the world on display, ranging from vintage to strange and custom-made.

82ND AVENUE PARADE OF ROSES
The 82nd Avenue of Roses Parade is back in Southeast Portland. The parade starts at  SE Bush Street at 9:30 a.m. and proceeds north on 82nd to SE 78th and Yamhill. Starting with a small parade in 2007, a small group of businesses, friends and neighbors have created a fun, festive and welcoming event. The Pandemic and a shortage of finances slowed them down. However, they're BACK, and this year's Grand Marshall is Joe V from KPTV.  Announcers will be located at the beginning of the parade.  The Lee’s Association Dragon and Lion Dance Team will join this year, along with the Last Regiment of Syncopated Drummers and the Rose Festival Clown Prince. The Friesian Horses from Washington will also dance their way north on 82nd Avenue for the third year to the appreciation of many adults and children. After the Parade, residents and friends are invited to attend another group's event: New Year in the Park – a free, family-friendly event celebrating Cambodian, Lao, Thai and Burmese New Years at Glenhaven Park on 82nd Ave and Siskiyou from 9:30-6:00 p.m..

HOOD RIVER CIDER FEST
Cider Fest gives seasoned and novice cider drinkers a chance to sample cider from Oregon and Washington’s finest cider makers. Nearly 30 cideries will be participating, with 60 ciders on tap. Grab a tasting glass, drink tokens, and find your new favorite.

The daylong event also features local crafts, food vendors, and a kids’ area with giant yard games. Hood River Cider Fest guarantees a great springtime event for the whole family. 

Spring showers aren’t a problem, as the cider-tasting area is under a tent on the Hood River Event Site. Soak in the waterfront view while sipping a local cider.

Attendees 21 and under are welcome for free. 

HIDDEN HISTORY SCAVENGER HUNT PHOTO TOUR 2023
May is National Historic Preservation Month. Help us celebrate by participating in this fun Hidden History Scavenger Hunt!  From May 1-31 stroll along the streets of Downtown Albany looking for historic architectural features pictured on an entry flyer. Write down the address next to the photo and return it to The Natty Dresser at 124 Broadalbin St. SW for a chance to win a fun prize. Entry forms are available at The Natty Dresser and the Albany Downtown Association or DOWN HERE. All entries must be returned to The Natty Dresser by Wednesday, May 31, 5:00 pm.  The winner will be announced on Facebook and contacted by phone. This event is brought to you by The Natty Dresser and the Albany Downtown Association.

THE BIGGEST CLOTHING SWAP IN THE NORTHWEST
The BIGGEST Clothing Swap in the Northwest. Two full floors of swapping fun. The Ballroom on the 3rd Floor: The main swap area with tons of clothing sorted into non-binary categories as well as a plethora of shoes and accessories.Plus, a bar. Lola's Room on the 2nd Floor: Plus-size swap with more shoes and accessories. $10 and a bag of clothes gets you a WHOLE NEW WARDROBE. You can bring more than one bag if you want. Don't have a bag of clothes to share? No problem, you can buy an empty bag for $5.

CLOTHES MUST BE:

  • Clean
  • Wearable
  • No holes
  • No odors (IF YOU ARE CAUGHT BRINGING IN STINKY, NASTY CLOTHING, YOU WILL BE TURNED AWAY IMMEDIATELY).
  • No underwear, socks/ hosiery, or bras (new items still in original packaging are okay)
  • No children's apparel (sorry)

And, the Clothing Swap soundtrack provided by DJ Gregarious. Invite ALL your friends. The more that attend, the more awesome clothes to choose from.

This is an all-ages event, but we recommend leaving small children at home.

PORTLAND FLEA + FOOD
The Portland Flea + Food is a gathering place for the creators, curators and collectors held the last weekend of the month from April to October in Portland, Oregon. Every market features 80+ local artists, makers, and curators of the best vintage, handmade and locally sourced goods in town. 

Saturdays at Ecotrust: 721 NW 9TH AVE
Sundays at Nova Building: 240 SE CLAY ST

BEUTIFICA 360
Beautifica 360 follows the No.1 fastest-selling full-dome music experience of all time, Mesmerica 360. Behind both is the inspiration of visionary composer James Hood and some of the world’s finest motion animators. Comprising a 360° journey through worlds real and imagined, the show is designed to promote joy with fantastic imagery in a full-dome planetarium experience. In short, Beautifica is a celebration of life. The last few years have been an extremely challenging and fearful time for humankind. Following the success of Mesmerica, which had truly captivated and delighted its audiences, it was time for James to go deeper as both an artist and composer. What could assist humanity in recovering from the profound effects of a global pandemic and lockdown? His answer was Beautifica. "I would like to invite you to join me on this adventure. Come celebrate the Beautifica of being alive!"- James Hood.Beautifica is the perfect night out and family event with a running time of 60 minutes.

AUDITION FROM HELL - A NAIL-BITING NEW MUSICAL
Four seasoned actresses at the top of their game but slim on prospects find themselves competing for two parts in a new musical. The audition goes sideways when the director quits, the producer loses her nerve, and tempers flare as past betrayals are revealed. With original music, this humorous and often heartfelt glimpse behind the curtain shares the highs and lows of the compelling yet brutal nature of show business.

WOODEN SHOE TULIP FESTIVAL
The annual bloom of cherry blossoms at downtown Portland’s Waterfront Park is impressive, but an even more colorful burst of flowers appears every spring just 32 miles (51 km) south of the city in Woodburn. The Wooden Shoe Tulip Festival blossoms each spring, drawing thousands to come and see acres upon acres of tulip fields in full bloom.

MONTAVILLA FARMERS MARKET
Neighborhood farmers market featuring local farms, distilleries, coffee, bakeries, flowers, hot food vendors and more.  The market was founded by a grassroots collection of neighbors who were inspired by visions of a fresh, local, food market in a shared community space within the growing SE Stark Street business district. This dedicated group opened the market in just 10 short months with a small amount of grant funds and a generous outpouring of donations from local businesses, friends and neighbors. The tireless energy of these un-paid visionaries and countless other volunteers allowed MFM to open its first market on Sunday, July 22, 2007, with 17 vendors and over 2000 visitors. Montavilla Farmers Market is a thriving, diverse marketplace where all are welcome.

BRIDGE CITY IMPROV: DINNER AND A SHOW
Come out for a night of laughter and delicious barbecue with Bridge City Improv. Dinner and comedy at Gray Gables Estate. An evening of improvised comedy that uses your suggestions to create characters and stories right before your eyes. They present stellar casts that highlight the metro area’s sharpest improv comedians.

PORTLAND NIGHT MARKET
The Portland Night Market showcases many unique businesses that call Portland home. Blending food, culture, music, drinks and retail for an adventurous evening in the Central Eastside. Meet some of Portland's best makers and creators. With almost 200 hundred makers, the Night Market offers food carts, drinks, clothing, lifestyle goods, home goods, body care and art. The Portland Night Market is a FREE quarterly event open to all ages. 

FARMERS MARKET AT PORTLAND STATE UNIVERSITY
The Portland Farmers Market at Portland State University will be open every Saturday, year-round. April through October hours are 8:30 a.m. to 2 p.m. November through March hours are 9 a.m. to 2 p.m. The Market at PSU is located in Downtown Portland in the South Park Blocks between SW College & Montgomery Streets.

HOLLYWOOD FARMERS MARKETS
Year-round on Saturdays, the Hollywood Farmers Markets hosts 50+ vendors, bringing you the best of the region’s agricultural bounty. In addition to amazingly fresh, local food,  you’ll find live music, children’s activities, and fun events throughout the season.

  • April through September, every Saturday 8 AM to 1 PM,
  • October and November, every Saturday 9 AM to 1 PM,, and
  • December through March: 9 AM to 1PM on the 1st and 3rd Saturdays of each month
 

 

Featured Listings

 

OPEN HOUSE APRIL 30TH FROM 1-3PM
11469 SW GABRIEL ST

PORTLAND, OR 97224

IMPROVED PRICE: $749,000
 

Beautiful Willow Brook single story home. Tastefully decorated 3 spacious bedrooms, 2 bathroom, engineered hardwood floors, open floor plan with high ceilings oversized gourmet kitchen w/ Stainless Steel Appliances, double built in ovens, gas cooktop and generous pantry. Covered porch for rainy days on a large private lot at the end of a cul-de-sac. Convenient shopping and restaurants.
 

For more information click here! or Text "900" to (971) 264-2095
or Call (971) 264-2095 Enter Code 900

 

Portland Metro Area Real Estate Market Update
March 2023


Residential Highlights

  • New listings (2,623) decreased 25.5% from the 3,521 listed in March 2022, and increased 48.7% from the 1,764 listed in February 2023
  • Pending sales (2,079) decreased 31.7% from the 3,045 offers accepted in March 2022, and increased 22.1% from the 1,703 offers accepted in February 2023.  
  • Closed sales (1,745) decreased 35.0% from the 2,683 closings in March 2022, and increased 21.7% from the 1,434 closings in February 2023.

Inventory and Total Market Time

  • Inventory decreased to 1.6 months in March. Total market time decreased to 57 days.

Year-To-Date Summary 

  • Comparing the first three months of 2023 to the same period in 2022, new listings (6,389) decreased 25.0%, pending sales (5,358) decreased 29.8%, and closed sales (4,340) decreased 33.9%. 

Average and Median Sale Prices

  • Comparing 2023 to 2022 through March, the average sale price has decreased 4.6% from $594,200 to $567,100. In the same comparison, the median sale price has decreased 2.8% from $530,000 to $514,900.

For a comprehensive report, click here

Lender Perspectives
by Mark Snow, Guild Mortgage

Home loan rates continue to stabilize ahead of next week's Fed Meeting. Let's discuss what happened this week as we await yet another Fed rate hike next Wednesday.

"Little Pink Houses for You and Me"... Little Pink Houses by John Mellencamp.
 

New Home Sales Soared In March

Housing continues to show some positive signs lately, thanks to the decline in mortgage rates. This week, New Home Sales for March grew by 9.6%, when the markets expected a 1.6% decline. The sales pace remains 3.4% lower than in March of 2022 but the improvement we are seeing since the beginning of the year highlights the strong demand for housing coupled with interest rate sensitivity.
The Northeast saw the largest pickup in sales. Warm weather could have helped fuel the buying activity. Builders also used incentives and buydowns to close deals.
 

Home Prices Rise - First Time In Eight Months

The S&P CoreLogic Case-Shiller National Home Price Index rose month over month in February, breaking a string of seven consecutive months of declines.
The Federal Housing Finance Agency also reported a price rise for February. What is sparking the increase in prices in what overall remains a slower housing market? Low housing inventory and a nice decline in home loan rates since the peak in October.
The home price gains continue to decelerate and this is good for restoring market balance as well as helping lower future inflation readings.
 

First Republic - The Next Bank Problem?

Weeks after the SVB collapse, First Republic Bank, despite multiple bailouts, is said to be on the brink of failure. There is some speculation that measures might need to be taken over the weekend to help the Bank survive.
This story reignites uncertainty around financial stability as we approach next week's Fed Meeting. Higher short-term rates, controlled by the Fed, only make problems worse for the banks. The Fed's comments on the banks next week will be market-moving.
 

Technical Barriers To Further Rate Improvement

Mortgage and housing professionals monitor both macroeconomic conditions, as well as technical factors (chart signals), to help determine rates trends and changes to them.
Currently, the 200-day Moving Average is limiting further rate improvement in the 2-year Note yield and the 10-year and mortgage-backed securities (where home loan rates are derived).
Next week's Fed Meeting, where it is widely believed the Fed will end this rate hiking cycle, could be the trigger to push bond prices above this ceiling.
One thing for sure? Rates can't improve further until prices break through this barrier. And if they do, we could very well see another leg lower in rates.
 

Bottom line:

Home loan rates have peaked, inflation has peaked and next week the Fed rate hikes are likely finished. Couple this with the bright future in housing and it's a reason to go shopping today.
 
Looking Ahead

Next week is a big week for the mortgage and housing world. On Wednesday, the Fed is going to raise rates by .25%, lifting the Fed Funds Rates to a range of 5 to 5.25%. This event will garner multiple market reactions. And if that were not enough headline risk, we have the April Jobs Report out next Friday. The current tight labor market is wonderful for housing and is a reason why the economy can't endure a deep recession.

 

 

 

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16037 SW Boones Ferry Road Ste 150

Tigard, OR 97224


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