Looking to add a Little Metal to Your Life?

My Copy of May 2020 Graphics  (1) copy 5One of the things I love about being a Realtor® is that I get to show homes and look at all the unique features.  One of the features that I love to see is iron spindles on staircases and decking.  If you love the look too or would like to add some iron accents in your home another way then this week’s local business can help, Forest Grove Iron & Industrial Supply   They are a custom fabrication and welding shop located in Forest Grove, Oregon at 2617 23rd Ave.

They offer many different services to help you achieve the metal look of your dreams.  Looking for signage?  They’ve got a waterjet that can cut up to 3″ thick steel plates which are perfect for signs.  They also provide quality custom metal fabrication, welding supplies & services (if you don’t have a handy welder in your family like I do).  They can do custom built steel, stainless steel & aluminum fabrication or if you’re a do-it-yourself kind of human they can help you obtain those products too.  If it’s power tools you need they’ve got you covered there as well as having welding gasses & supplies, electric grinders, air tools & accessories, metal working tools, metal cut off saws and so much more.  Oh, and if you happen to be building a trailer they’ve got you covered their too with their supply of stock trailer assembly parts.

Honestly they seem to be the Willy Wonka Chocolate Factory for metal work.  No one tell my son and husband, LOL I’m sure they’d be thrilled to go visit.  I guess that would be okay so long as they don’t wind up like any of the kids in the movie I suppose it’s ok.

This Kitchen is a Gut Job….or Is It?

19The 80’s & 90’s oh how we love you, your oak kitchen cabinetry not so much.  Touring homes with clients I run into the honey oak cabinets from the 80’s & 90’s all the time, and typically the thing I hear from them is that this kitchen is a total remodel.  Which as we all know can be EXPEN$SIVE!!!!  Not to mention the thought of a total kitchen remodel can be overwhelming to some.  However, there is a solution that can keep you from completely gutting the kitchen, and starting all over…..painting your kitchen cabinets.  In one of my previous homes I had the dark 1970’s cabinetry and I painted the boxes myself, while my late husband made new door and drawer fronts, so I know how time consuming doing it yourself can be.   Also, many people don’t want to do it themselves which is where this week’s local business comes in, K’tique Redesign.

Owned by Katie Knutson, K’tique Redesign was founded in April of 2018.  Katie takes those ugly dated honey oak cabinets and transform them into beautiful 2020 style gems! She is located in Boring, Oregon but works throughout the Portland Metro area and recently completed a job in Forest Grove.   Katie is a one woman show so when you contact her to turn your outdated kitchen into the kitchen of your dreams you will know that she’s the one you will be working with from start to finish.  I personally find that nice as I have had contractors out for projects in the past where we have agreed upon what needs to be done but that doesn’t get communicated to the folks doing the work, and then the project turns into a mess because it’s not what we had discussed.

So, what are the benefits to having your cabinets painted as opposed to just starting over?  Well, cost for one.  It’s expensive to rip out old cabinets and then add new ones.  In addition by having your cabinets redone there is no need to rip out your counter tops, flooring, sink, etc.  So, if you’re wanting to re-do your kitchen but the thought of tearing everything out is overwhelming talk to Katie because painting your cabinets may be the solution you are looking for.

Home Equity…..it’s a Bright Spark in the Housing Market

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We have seen more unemployment claims than ever before over the past several weeks and let’s be real fear is spreading widely. There is some good news, however, more than 4 million initial unemployment filers have likely already found a new job,  as industries such as health care, food and grocery stores, retail, delivery, and more increase their employment opportunities. So, let’s break down what unemployment means for homeownership, and start to understand how the significant equity Americans hold today, are important parts of seeing the picture clearly when sorting through this uncertainty.

One of the biggest questions right now is whether this historic unemployment rate will initiate a new surge of foreclosures in the market. Given that the Great Recession of 2008 is still fresh in many peoples minds this is a very real fear. Despite the staggering number of claims, there are actually many reasons why we won’t see a significant number of foreclosures like we did during the housing crash twelve years ago. Why?  Well, the amount of equity homeowners have today is a leading differentiator in the current market.

According to John Burns Consulting58.7% of homes in the U.S. have at least 60% equity. That number is drastically different than it was in 2008 when the housing bubble burst. The last recession was painful, and when prices dipped, many found themselves owing more on their mortgage than what their homes were worth causing homeowners simply walked away at that point. Currently, 42.1% of all homes in this country are mortgage-free, meaning they’re owned free and clear. Those homes are not at risk for foreclosure (see graph below):Why Home Equity is a Bright Spark in the Housing Market | MyKCMIn addition, CoreLogic notes the average equity mortgaged homes have today is $177,000. That’s a significant amount that homeowners won’t be stepping away from, even in today’s economy (see chart below):Why Home Equity is a Bright Spark in the Housing Market | MyKCMIn essence, the amount of equity homeowners have today positions them to be in a much better place than they were in 2008.  The fear and uncertainty that we are feeling right now is very real, and this is not going to be an easy road we go down.  However, seeing strength in our current market through homeowner equity that was not there in the past is a bright spark to help us make it through this difficult time.