What Might the Rest of 2020 Look Like?

What Are Experts Saying About the Rest of 2020? | MyKCM

Let’s be real one of the major items on everyone’s mind these days is: What’s going to happen to the housing market in the second half of the year? If we look at recent data on the economy, unemployment, real estate, and more, many factors economists are now revising their forecasts for the remainder of 2020 – and the outlook is extremely encouraging. Here’s  what some experts have to say about key areas that will power the industry and the economy forward this year.

Mortgage Purchase Originations: Joel Kan, Associate Vice President of Economic and Industry ForecastingMortgage Bankers Association

“The recovery in housing is happening faster than expected. We anticipated a drop off in Q3. But, we don’t think that’s the case anymore. We revised our Q3 numbers higher. Before, we predicted a 2 percent decline in purchase originations in 2020, now we think there will be 2 percent growth this year.”

Home Sales: Lawrence Yun, Chief Economist, National Association of Realtors

“Sales completed in May reflect contract signings in March and April – during the strictest times of the pandemic lock down and hence the cyclical low point…Home sales will surely rise in the upcoming months with the economy reopening, and could even surpass one-year-ago figures in the second half of the year.”

Inventory: George Ratiu, Senior Economist, realtor.com

“We can project that the next few months will see a slow-yet-steady improvement in new inventory…we projected a stepped improvement for the May through August months, followed by a return to historical trend for the September through December time frame.”

Mortgage Rates: Freddie Mac

“Going forward, we forecast the 30-year fixed-rate mortgage to remain low, falling to a yearly average of 3.4% in 2020 and 3.2% in 2021.”

New Construction: Doug Duncan, Chief Economist, Fannie Mae

“The weaker-than-expected single-family starts number may be a matter of timing, as single-family permits jumped by a stronger 11.9 percent. In addition, the number of authorized single-family units not yet started rose 5.4 percent to the second-highest level since 2008. This suggests that a significant acceleration in new construction will likely occur.”

Good news is that the experts are optimistic about the second half of the year. If you made the choice to pause your 2020 real estate plans in the spring, now may be the right time for you to get back into the market.  If you have questions I’m here to talk to you about it, no pressure, no tactics just the advice and guidance you need to make the best decision possible for your family.

You can Never Have too Many Books Right?

Add a subheadingI love to read, and while I enjoy audio books and reading on my eReader there is something special about holding a physical book in your hands.  It’s probably why I love buying books so much.  The problem is, what do you do with all of those books because at some point in time you run out of places to keep them.  Helping get rid of some of those books is where this week’s local business of the week comes into play.  The Arcade Book Exchange is a used bookstore that has been serving the needs of Washington County readers for over 43 years, and the amazing thing is that you can trade your old reads for some new ones.

The Arcade Book Exchange carries a large selection of newer release, novels, romance, mystery, horror, spy/adventure, sci-fi/fantasy, westerns, children/young adult, self-help, inspirational, historical, true crime, biographies, category romance, military and so much more.  You are sure to find something you’ll love.  They focus primarily in paperback books, but you can find a selection of collectible and hardbound books as well.  In addition, if you aren’t ready to venture out and go brows books in person they offer an online selection of books too.

It should be noted that Arcade Book Exchange does not purchase books, you can only trade them.  So you may be wondering what does the process look like when you trade books?  Well here’s what you need to know about their trade policy:

You will receive 1/4 of the cover price on all incoming books in in-store credit.
Outgoing books can be purchased at 1/2 the cover price.

Half of your PURCHASE price may be deducted off of your store credit.
The remaining half must be paid with cash, check, debit or credit card.

EXAMPLE:
Bring in two $8 books. You will receive $4 in store credit.
Take out two $8 books you will pay $4 in cash/debit/check and $4 will be deducted off your store credit.

All “CASH” books (with white cash sticker) are eligible to be taken off your store credit.

Credit has no expiration and no cash value.

So, the next time you are in need of a new book, why not exchange some books you no longer want and get some new ones.  The Arcade Book Exchange is located at 136 SE 3rd Ave, Suite 300, Hillsboro, Oregon and their phone number is (503) 648-5821

Celebrating a Local Woman Owned Business!

My Copy of May 2020 Graphics  (1) copy 5This month I decided that I would focus on local Hillsboro businesses.  This week’s business just also happens to be a woman owned business so for me it’s even more special, because I believe it is so important for women support other women.  Therefore I am excited to share some information with you about AnchorPointe Graphics

AnchorPointe Graphics serves the city of Portland and surrounding areas with graphics, printing and marketing needs for businesses.  They have been in business for 20 years, and in 2017 made the decision to branch out from the national franchise to become an independent company.  They are a brick and mortar business that uses state of the art printing and production equipment as well as design software and high speed digital printers.  They have high resolution large format machines perfect for those extra large projects.  If you’re looking to mail something they’ve got an automated mail prep system.  They have a clean, well-organized brick and mortar facility with state of the art printing and production equipment. They also use the latest design software, high-speed digital printers, high-resolution large format machines, automated mail prep systems, offset press, and full production, bindery, and finishing necessities, they have the skills and experience to help you achieve your printing goals.

Some of the services that they offer are graphic design work, digital and offset printing, mailing & fulfillment, signs, banners & display printing, as well as promotional printing.  They really do have you covered for all of your printing and graphic design needs.

AnchorPoint Graphics is located at:

7235 NE Evergreen Parkway, Ste. 100, Hillsboro, OR 97124

 

Unemployment….3 Things to Understand

Three Things to Understand About Unemployment Statistics | MyKCM

Brace yourselves, tomorrow morning the Bureau of Labor Statistics will release the latest Employment Situation Summary, which includes the most current unemployment rate. Be prepared for a horrific number. Many analysts believe unemployment could be greater than 20%. The numbers represent families all across the United States who are not sure when (or if) they will return to work. The emotional impact on these families is devastating.

However there are some small rays of light shining on this issue. Here are three:

1. The actual number of unemployed is less than many are reporting

The number of people unemployed is sometimes over-exaggerated. It seems that every newscaster talks about the 40+ million people “currently” unemployed. It is true that, over the last ten weeks, over 40.7 million people have applied for unemployment. It is also true, however, that many of those people have already returned to work or gotten a new job. The actual number of people currently unemployed is 21.1 million. While this is still a horrible number, it is about half of what is often being reported.Three Things to Understand About Unemployment Statistics | MyKCM

2. Of those still unemployed, most are temporary layoffs

Last month’s unemployment report indicates that 90% of those unemployed believe their status is temporary. Friday’s report will probably show a decline in that percentage as the original number was somewhat optimistic. However, a recent survey by the Federal Reserve Bank showed that employers believe over 75% of job losses are temporary layoffs and furloughs. This means 3 out of 4 people should be returning to work as the economy continues to recover.

3. Those on unemployment are receiving assistance

According to a recent study from the Becker Friedman Institute for Economics at the University of Chicago, 68% of those who are eligible for unemployment insurance receive benefits that exceed lost earnings, with 20% receiving benefits at least twice as large as their lost earnings. So yes, tomorrow’s report will be difficult to swallow. However, as our nation continues to reopen, many of the families who are impacted will be able to return to work.