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Gardner Report – 2015, Second Quarter
Below is the 2015 Q2 report from Matthew Gardner, Windermere's Chief Economist. As you can see, with rising home prices and continued low market time, this is a very strong seller's market. Please contact me for a complimentary consultation if you're considering selling your home! In addition, I've had a lot of success in helping buyers navigate the current market and win multiple offer situations. If you're looking for a home, I'd love to sit down with you for a free buyer consultation as well. Thanks very much!
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The Latest in Real Estate Fraud
For most people, buying a home is the largest purchase they'll make in their lifetimes. Consequently, there is a substantial amount of money flowing around during a real estate transactions, with earnest money deposits, payment for inspections, and the transferring of funds at closing. Currently, we have a lot of mechanisms and vehicles to protect the finances on all sides of the transaction: escrow provides a neutral third party to hold funds, different contingencies protect monies while buyers and sellers make decisions, and banks provide secure wiring for the funding of loans.
Unfortunately, despite the sophistication of the real estate industry, some intrepid wire fraudsters have nevertheless latched on to real estate transactions as a target for scamming buyers. According to the National Association of Realtors (NAR), the system is this: a hacker will slice into a real estate agent's email account and monitor the details of a particular transaction. Then, as closing approaches, the perpetrator of the fraud will send an official-looking email to the buyer in the transaction with fradulent wiring instructions, thus obtaining the funds themselves. It's also noted that the emails themselves are fairly convincing, with either legitimate-seeming sham accounts or hacked emails from legitimate accounts themselves. The language also displays less of the robotic syntax quirks that are obvious red flags in the more typical email scams.
Regardless of the refinement of this scam, however, buyers and real estate agents can take precautions. For instance, be aware of any reference to a "SWIFT wire" in the email. Staying in contact with escrow officers, lenders, and your real estate agent is also a great way to make sure nothing falls through the cracks and there is no space for a scammer to insert themselves into the transaction. I'm a firm believer in daily follow-ups and I think that's a great precautionary measure against fraud, in addition to just being good business. The full list of measures can be found in the link to the article below. Please feel free to contact me with any questions as well!
Link to Article: CLICK HERE
Revisiting the “End of the Trail”
Most Oregonians know that Oregon City was the first incorporated city and capital of our fair state. Since John McLoughlin and the Hudson Bay Company established the city in 1829, the land where the confluence of the Clackamas and Willamette Rivers meet has had quite a history. For years lumber and paper mills were Oregon's bread and butter.
In recent years, Oregon City has been thought of by many as a quiet, historic city, but removed from the life and culture of near neighbor Portland. The reduction in lumbering and closing down of paper mills only solidified that perception. However, with the recent economic uptick, and home buyers and business looking for an affordable alternative, Oregon City has been going through a revitalization.
Now, a big project is underway with the blessing of Governor Kate Brown, the State of Oregon, and local govenrnments and organzations. The Willamette Falls River Walk shows promise to be new jewel to, not only for Oregon City, but for the greater Portland metro area.
Portland Victorious in Sustainability Survey
“We are the Champions, We are the Champions…” Queen
Portland did it again…It probably comes as no surprise that Portland, OR. was recently voted the “Greenest City” in America by readers of Travel and Leisure Magazine. In looking at 35 metropolitan areas across the country, public transportation, cleanliness, how many parks per square mile, pedestrian friendliness, air quality, were just a few of the attributes these cities were judged on.
It may be surprising to some to see such large cities as Chicago (#5) and San Diego (#8) cracking the top 10. Originally being from Southern California, I was shocked to read that San Diego County has more farms per capita than any other county in the nation.
Here is the link you can click on:
http://www.travelandleisure.com/articles/americas-greenest-cities/1
Event: Sunday April 22nd, in celebration of Earth Day, City Repair along with the Associated Students of Portland Community College are hosting an all day festival devoted to sustainable living at the PCC Cascade Campus, 705 N. Killingsworth St. There will be informational booths, organic food, music, and interactive workshops for kids and adults. Click on the following link to get more details: http://cityrepair.org/2012/03/city-repairs-earth-day-pdx-2012/
