I put this short video together to share some national statistics you might find interesting..... How much buying a resale home puts into the local economy, and also buying a new home. There are so many parts to this puzzle we don't always think about outside from the obvious agents, escrow, appraisers, etc., which go from buying new furniture, to movers, even changing your license with the DMV. Check out the video and let me know your thoughts!

The MBA interest rate predictions are out for 2021 and beyond and what's interesting is how uninteresting they are. But what are we missing here? Well, yesterday we closed a home at 2.375% on a 30 year and their payment on the $400,000 mortgage was $1,554. If the rates creep up to an also low 3.9% that same mortgage would be $1,886 a month or $332 a month more, not counting any increase is sales price. Hmmm..

How can this be? Well, interest rates do the trick. Check out this chart, and note that during the recession when homes dropped from 30-60% in value they weren't that much more affordable than now, over 10 years later. Also take a look at 1990 on the left of the chart. You can see that even though prices are up in the Portland area, its almost as affordable to buy a home now than in much of the past.

The home of the week for this email is a terrific home located close to the desirable Raleigh Hills area of SW Portland and sitting on an over 1/2 acre lot. It has gleaming hardwood floors, a huge island kitchen, three bedrooms and two fully updated bathrooms on the main floor too. The lower level has a large bonus room and laundry area too. Outside features an oversized garage, plus a shed and the heat source is an incredibly economical ground loop system. All this so close into town, and Beaverton too. You can see the full listing HERE or click on the photo, and there is a 360 tour link below too.

Thanks for checking out this newsletter, and thanks for supporting our real estate team for all these years. Many of you have reached out to me to talk about your real estate concerns. I love catching up with my clients and welcome your calls. Stay safe , ROB LEVY and CAITY ABOUAF