So What Does an Urban Farm Store Have?

My Copy of May 2020 Graphics  (1) copy 5I am always on the lookout for a unique closing gifts, and this week’s local business has just that, Bennett Urban Farm Store  Located in Downtown Hillsboro in Oregon is located at 276 E Main Street and has  something for everyone on your gift list.

They have the most amazing baskets that are perfect for carrying all the items you get at the farmers market, going to the beach or heading out for a picnic.  You can also fill that picnic basket with drinks, energy bars and chocolates that they have on hand.  Root Beer soda anyone?

As far as gifts go, they have adorable bottle stoppers, children’s toys, DIY cheese kits, lots of items for you kitchen, greeting cards, reusable food wraps, and so, so much more.  If you happen to be in Downtown Hillsboro be sure to stop by, and you can also pick up a some coffee because they also do coffee roasting and they make jam.  Yummy!

If you can’t make it into the store be sure to go to their website https://www.bennetturbanfarmstore.com/ to place an order online, and you can find them on Facebook  and Instagram at bennett_urban_farm_store.

 

Are you making a good investment? Let’s talk about buying a home with resale potential!

It’s All About Supply and Demand Folks

Home Prices: It’s All About Supply and Demand | MyKCM

We are moving into the summer months and as we work through all of the challenges going on right now many are wondering how the economic slowdown will affect home prices. So if we look at the big picture of supply and demand we will be able to see an idea of what is to come.

As we make our way through the month of June and enter into the second half of the year, we are facing an undersupply of homes in different locations and price points. According to the National Association of Realtors (NAR), across the country, we currently have a 4.1 months supply of homes on the market. So what exactly is a balanced market?  A balanced market is considered to be 6 months of supply.  Anything over 6 months is a buyer’s market, meaning prices will depreciate. Anything below 6 months is a seller’s market, where prices appreciate. The graph below shows inventory across the country since 2010 in months supply of homes for sale.Home Prices: It’s All About Supply and Demand | MyKCMRobert Dietz, Chief Economist for the National Home Builders Association (NAHB) says:

“As the economy begins a recovery later in 2020, we expect housing to play a leading role. Housing enters this recession underbuilt, not overbuilt. Estimates vary, but based on demographics and current vacancy rates, the U.S. may have a housing deficit of up to one million units.”

So with the current undersupply of homes on the market there is upward pressure on prices. Looking at simple economics, when there is less of an item for sale and the demand is high, consumers are willing to pay more for that item. The undersupply is also prompting bidding wars, which can drive price points higher in the home sale process. According to a recent MarketWatch article:

 “As buyers return to the market as the country rebounds from the pandemic, a limited inventory of homes for sale could fuel bidding wars and push prices higher.”

Experts forecasting home prices have updated their projections given the impact of the pandemic. Major institutions expect home prices to appreciate through 2022. The chart below, updated as of earlier this week, notes these forecasts. As the year progresses, we may see these projections revised in a continued upward trend, given the lack of homes on the market. This could drive home prices even higher.Home Prices: It’s All About Supply and Demand | MyKCM

Many may think home prices will depreciate due to the economic slowdown from the coronavirus, but experts disagree. As we approach the second half of this year, we may actually see home prices rise even higher given the lack of homes for sale.

Are There Indications that the Housing Market Will Turn Around This Year?

cosmic-timetraveler-zh_ofCt2r9c-unsplash

I am have more and more people asking me if I believe that now is the time for them to be thinking about  buying or selling a home in 2020.  With everything going on some folks have made the decision to shift their plans or to completely put them on hold for the time being. them on hold for the next few months.  The buyers and sellers I talk to are wondering and worry that the market is going to change, and they are also concerned about the  economy  and when it will turn around. If you are like millions of others out there who are trying to figure out what’s going to happen here is some information that could shed some light on the market for you.

The spring 2020 NAR Flash Survey: Economic Pulse, from the National Association of Realtors (NAR) has been tracking behavior changes of homebuyers and sellers. In response to their most recent survey Lawrence Yun, the Chief Economist at NAR, noted it shows the beginnings of a turn in the market:

“After a pause, home sellers are gearing up to list their properties with the reopening of the economy…Plenty of buyers also appear ready to take advantage of record-low mortgage rates and the stability that comes with these locked-in monthly payments into future years.”

What does the survey indicate about sellers?

It indicates that sellers are positioning themselves to make moves this year. More than 3 in 4 potential sellers say that they are getting ready to sell their homes once stay-at-home orders are lifted and they feel more confident.  This  means more homes will start to be available for interested buyers.Will the Housing Market Turn Around This Year? | MyKCMJust this week, Zillow also reported an uptick in listings and this is great news for the health of the market:

“The number of new for-sale listings overall has shown improvement, up 5.9% last week from the previous week. New listings of the most-expensive homes…are now seeing the biggest resurgence, up 8%. The uptick is likely a sign sellers are feeling more confident because of improving buyer demand, as newly pending sales have also jumped up during the same period.”

What does the survey say about buyers?

The pandemic has made an impact on buyer preferences regarding showings:

  • 5% of the respondents said buyers are shifting their focus from urban to suburban areas.
  • 1 in 8 Realtors report changes in desired home features, with home offices, bigger yards, and more space for their families becoming increasingly important.
  • Only 17% said buyers stopped looking due to concerns about their employment or loss of a job.

As I’ve stated before, buyer demand is strong right now.  Yes there are those who are waiting for more inventory to become available before they make their move, but we are still seeing buyers making offers.

So, if you are looking to put your home on the market let’s chat.  I promise, no pressure or sales tactics, just the guidance you need right now.  Plus, there’s a good chance an eager buyer is looking for a home just like yours.

How to Drink Bubble Tea in a Reusable Cup.

12Ok, bubble tea is tasty, but because of boba it requires a plastic cup and a HUGE plastic straw, but no more.  This week’s featured local business, BBtea Jar, solves the problem of needing those huge plastic straws and cups thanks to their adorable reusable mason jars with bamboo lids and metal straws.

Now I know what you’re thinking, I’m not into bubble tea, but I do like smoothies, and these jars are perfect for those as well.  Each jar comes with two different sizes of metal straws as well as a single size bristle brush for cleaning.  They cost $19 which is reasonable when you consider what other reusable tumblers and cups go for.  I love the fact that BBtea Jars offers a canvas utility pouch to store your straws in on the go.  I carry metal straws with me in my purse and having a canvas bag to keep them in is so handy.  These adorable tumblers are dishwasher safe which is perfect.

BBtea Jars was founded by Malisa Tep in February of 2020.  Located in Hillsboro, Oregon BBtea Jars intention is to help in reducing plastic waste yet providing a chic reusable jar for boba tea lovers or for everyday personal use.  You can find them online at their website, BBTea Jars or Facebook.