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Mortgage Rates Drive Purchasing Power

Offering a special glimpse into the financial realm, M Realty’s preferred lending partner, Guild Mortgage’s Brent Lucas provided this illuminating chart and information showing the impact of mortgage rates on actual buying power.

Mortgage Rates Drive Home Affordability and Buying Power
“How much home can I afford?” It’s among the most common questions asked by a home buyer and the starting point for nearly every home search in the country.

Changing mortgage rates do more to influence home affordability than changing home prices.

If that seems strange to you, think back to the last two years. Quarter-after-quarter, home affordability stuck near all-time highs even as home values have recovered from “the bottom.” Home affordability didn’t improve because home prices were lower — it improved because mortgage rates were at their lowest.

Each time rates ticked lower, a buyer’s purchasing power increased. When mortgage rates reached their lowest in November of 2012 (3.35%), affordability had peaked.

Lately, however, the trend has reversed. Mortgage rates have pushed past 4 percent and the answer to “how much home can I afford” has changed as well.

Take, for example, the hypothetical home buyer in Portland who was pre-approved in May 2013 for a maximum $475,000 loan amount, assuming 20 percent down. While she’s been shopping, U.S. Mortgage rates have been on the rise. Unfortunately, with each 0.125 percentage point increase to rate, her maximum purchase price has dropped $7,200. Today, that same buyer can afford a home for $424,326.

Do You Know Your Buying Power Now?
Mortgage rates have had some ups and downs over the past few months. Today’s home buyers — pre-approved or not — should consider a re-pre-approval; a re-verification of terms and a re-qualification for a mortgage.

Interest rates and purchasing power affect home prices, too. Lower rates allow buyers to offer higher prices for homes. When affordability drops because rates rise, the number of buyers who can afford higher prices drops too, which of course reduces demand. When demand drops, there is less competition for homes. It is competition for homes that is driving prices up in the current market. In the past, when the competition for homes decreases, prices have “softened”, meaning the steep increases slowed, flattened, or even dropped some.

Ask me if you’d like to be professionally connected to helpful financial tools like Brent’s. You can interact with his mortgage calculator at  LucasLendingGroup.com. 

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Westmoreland — 1306 SE Yukon, right on the Bluff

$408,500 — 2 Bedrooms, 1 Bath — 1694 SF

On the bluff in Westmoreland! Fabulous rare opportunity for gorgeous, sunny view of Oaks Bottom Wildlife Sanctuary & river (river mostly in winter). 2 blocks to cafes. Watch abundant birds & wildlife from living & dining of 1915 cottage. Update & make it your own! Hardwoods in entry and maybe under carpet. One level + unfin basement. Sunny yard & decks. Estate. As-is price.

Listed by:  Laurie Sonnenfeld @ M Realty LLC

SOLD — 135 Days on Market

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Hidden Gems of Sauvie Island

Hidden Gems of Sauvie Island

As spring peeks its head out from the blanket of winter, Portlanders will undoubtedly be looking to embrace the out-of-doors at Sauvie Island. Already famous (notorious, even) for its various beaches, there are some lesser known gems definitely worth exploring on our Columbia River island. Did you know Sauvie Island is one of the biggest river islands in the country? A friendly word of caution: always make sure you know where you’re planning on parking and that you’ve paid for the privilege. Parking enforcement is ever vigilant. Passes can be purchased in the country store, just after you cross the bridge onto the island.


Douglas Farm – This fantastic farm has operated on the island since the 1940s and you can drive by one of the original work trucks on your way in. Touted by locals as the best place to pick peaches, this u-pick farm offers access to fresh produce, free-range eggs and 100% natural local honey. Stop in for some delicious goodness!
15330 NW Sauvie Island Rd. Portland, OR 97231
503.621.3177

Cistus Nursery – Gardening enthusiasts will especially love this nursery, but the amazing variety of flora can serve as an impromptu nature stroll. Their experts are available for consultations that could transform even the smallest balcony into a thriving sanctuary. Take something green home with you or gather ideas and then take advantage of their convenient mail order shipping.
22711 NW Gillihan Rd. Portland, OR 97231
503.621.2233

Sauvie Island Wildlife Area – If you’re looking for a serene stroll through protected land, the Sauvie Island Wildlife Area is an ideal destination. Courteous picnickers are invited to dine amidst the diverse wildlife population. Spring is the perfect time to catch songbirds at play in the boughs, while various waterfowl (including sandhill cranes) are still active. Lucky guests may even spot a majestic bald eagle. Those seeking a more active outdoor adventure will be happy to find fishing, hiking, trapshooting, canoeing and even dog training all available here.
18330 NW Sauvie Island Rd. Portland, OR 97231
503.621.3488

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Hidden Gems – Wineries


You should not have to trek out to wine country to enjoy the tasting rooms of local wineries when we have fantastic offerings downtown. That being said, you should definitely trek out to wine country to enjoy those exquisite destinations as well. When planning your next evening festivities or weekend escape, consider the following hidden gems!

 

 

Southeast Wine Collective – Urban Winery

Currently featuring eight different wineries under one roof, this collective offers a diverse array of special events and movie nights. Check out their schedule and find an activity that strikes your fancy or just stop by their beautiful tasting room, crafted from wine barrels, for a taste of something wonderful.

(503)208.2061
2425 SE 35th Pl
Portland, OR 97214
www.sewinecollective.com

 

Clay Pigeon Winery – Urban Winery

Equipped with their own on-site restaurant, Cyril’s, this urban winery is open for lunch. They also offer classes and are available for private events.

(503)206.8117
815 SE Oak St
Portland, OR 97214
winery – www.claypigeonwinery.com
restaurant – www.cyrilspdx.com

 

White Rose Estate – Wine Country

Praised by wine experts for their outstanding product, it is unique in its high-percentage whole-cluster fermentation, granting it the most intense and beautiful aromatics. Find out for yourself at their tasting room that is open seven days a week.

(503)864.2328
6250 NE Hilltop Lane
Dayton, OR 97114
www.whiteroseestate.com

 

Domaine Trouvere – Wine Country

An offshoot of Lange winery, they are located in the same building as Red Hills Market, the ideal lunch destination for anyone day-tripping to wine country.

(503)487.6370
155 SW 7th St
Dundee, OR 97115
www.domainetrouvere.com

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River Rd — 986 SE River Forest Rd

$345,000 — 3 Bedrooms, 2 Baths — 1066 SF

Hidden gem in River Forest paradise. Mid-century-modern! Serene view of River Forest Lake across the road. Easy 1-level living. Stunning hardwoods, vaulted ceiling, skylights, 2 baths. Updated kitchen w eco-friendly paperstone counters. Lovely yard w trees & sun. Established natural gardens, 3-room deck & fire pit. Wonderful community near Trolley Trail bikeway, Oak Grove village cafes, and new MAX.

Listed by: Laurie Sonnenfeld @ M Realty LLC

SOLD — 5 Days on Market

The River Forest neighborhood is a peaceful natural watershed paradise. Residents make up a lively and interactive community including a fine assortment of artists and musicians. Look forward to the series of neighborhood art shows, a 4th of July parade and the Valentine’s Day stroll. Several homes have been awarded certification for sustainable landscaping or backyard wildlife habitat.

River Forest Lake and the Willamette River are in close proximity, while a variety of shops and cafes in Oak Grove Village provide a place to bump into your neighbors while having coffee, lunch, or browsing for treasures. The nearby Trolley Trail bikeway and the upcoming 2015 MAX Light Rail stop offer a variety of commuter options. The Trolley Trail bikeway is a 6 mile trail from downtown Milwaukie to Gladstone. Its north end is close to the Springwater Corridor, a convenient way to bike downtown.

At night the quiet stillness underscores the occasional sounds of wildlife. The level of darkness makes the stars pop out, encouraging sky watching and peaceful sleep.  You’ll feel like you are miles outside of civilization, even though you are only a short drive from downtown Portland.

The Residence: This 1965 mid-century modern home is nestled in the River Forest neighborhood of Oak Grove. An enticing view of River Forest Lake across the road can be enjoyed from the dining room and the cozy front porch. The lovely south-facing backyard features an established natural garden, a tool shed with water and electric, and a three-room deck and firepit–a serene retreat excellent for relaxing and entertaining.

Enter the threshold into the bright and airy living room. Stunning hardwoods are illuminated by skylights and a sliding glass door to a secret courtyard retreat, open only to you, the sun and the sky.

High, vaulted ceilings open up the space and carry into the dining area. The beautifully updated kitchen boasts eco-friendly paperstone counters, stainless steel appliances, a sizable pantry and a counter depth fridge. A master suite with bath, along with second and third bedrooms and bath are tucked away down the hall for privacy.

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Hidden Gems: Portland Activities

The Greater Portland Metro Area possesses a diverse range of activities, including some hidden gems that might not come to the top of your mind when planning what you’ll do on your day off. Here are some lesser known adventures that may just be right up your alley.

 

Bocce Ball – Leisure Public House – St. Johns, North Portland

Play bocce ball for free on the patio of the Leisure Public House in St. Johns. Originating in Ancient Rome, the rules are simple (similar to playing horseshoes) and it’s a fun, fantastic way to pass the time while you’re enjoying the food and drink of the pub, conversing with friends or mingling with locals.

8002 N Lombard St
Portland, OR 97203
503.289.7606
leisurepublichouse.com

 

 

 

Blacklight Mini Golf – Glowing Greens – Downtown Portland

Underground black-light pirate-themed miniature golf. If you haven’t been to Glowing Greens yet, chances are you can’t say you’ve done this one before. They have a separate room for kids that’s great for birthday parties, but mini-golfers of all ages put their putting skills to the test, and have a blast doing it. Be sure to purchase a scorpion sucker or some spicy crickets on your way out!

509 SW Taylor St
Portland, OR 97204
503.222.5554
glowinggreens.com

 

 

 

Skeet Shooting – Portland Gun Club – Southeast Portland

A fixture in Portland for over a century, the Portland Gun Club prides itself on providing a safe, fun environment for anyone to learn the joys of skeet and trap shooting. Groups of five can shoot easily in one lane, firing at remotely launched discs. Their friendly experts are on hand to guide newbies in the basics, having first-timers hitting targets straightaway!

4711 SE 174th Ave
Portland, OR 97236
503.492.8752
portlandgunclub.org

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Spring Sun and Fun

 

Farmer’s Markets Abound

No matter where you call home in the Greater Portland Metro Area, there’s a farmer’s market not far off. Find one conveniently close and meet the people who grow this delicious organic food. It’s not just carrots and cauliflower, enjoy everything from hand-crafted ginger ales to local bee pollen.

 

 

 

Arbor Day Festival

Speaking of farmer’s markets, the Portland Arbor Day festival will be kicking off Saturday, April 26th at the Portland State University farmer’s market from 8:30am to 2:00pm. Plant a tree and come celebrate our urban forest as Portland receives its 37th annual Tree City USA banner!

 

 

 

Food Cart Festival

Willamette Week’s Seventh Annual “Eat Mobile” pits more than 30 of their favorite food carts against one another, as they compete for the much-coveted Carty Award. With more than 400 food carts operating in Portland, this is a great way for newcomers to get a taste and for foodies to get their fix. Join the mouthwatering fun Sunday, April 27th at OMSI.

 

 

 

Tulip Fest

Experience the dog-friendly fun of Wooden Shoe Tulip Farm, evolving every year in a beautiful new arrangement of patterns and colors. All are welcome (including photographers) to bask in the breathtaking, vibrant hues of Woodburn’s tulips. Open March 28th thru May 4th, open daily from 9am to 6 pm.

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Maximize Your Home’s Tax Value

If you haven’t done your taxes yet, it’s not because you’ve been procrastinating. You were strategically waiting to make sure you leveraged maximum return value from your property by embracing this helpful list. Whether you already own a home or are planning on one in the future, these thrilling tax tips can mean money in your pocket.

#1 – Mortgage Interest Deductions: In most cases, the vast majority of mortgage payments for the first ten years are covering interest. What’s fantastic about interest payments? They’re tax deductible. If the conditions are right, you might just be able to jump down into that lower tax bracket.

#2 – Property Tax Deductions: Don’t forget that your property taxes likely qualify as deductions as well! These can be easily overlooked if your taxes and insurance are already included in your monthly mortgage payment.

#3 – Capital Gain Exclusions: Did you sell your house for a profit this year? It’s possible you could shelter $250,000 to $500,000 of profit as a capital gain exclusion. If you’d like to learn more, here’s a helpful article.

Friendly Disclaimer: This information is provided as a helpful starting point. If you require tax advice, please contact a tax attorney or CPA.

If you find yourself talking to a tax professional to help you accurately prepare your taxes to your best advantage, here are some other potentially lucrative topics to bring up:

Home Improvement Loan Interest Deduction
Private Mortgage Insurance (PMI) Deduction
Mortgage Points/Origination Deduction
Energy Efficiency Upgrades/Repairs Deduction
Real Estate Selling Cost Deduction
Home Office Deduction
Loan Forgiveness Deduction

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Staging Your Occupied Home

Selling your home? Get it ready – Get it sold!

Preparing your home for the market shouldn’t be stressful or involve renovating every room. The most important things are getting the interior and exterior ready for potential buyers to see themselves living there. The first week on the market is the most critical as most active buyers will see your home on-line and perhaps also during the open house. Being well prepared from the start, and spending the time needed getting your home ready could be the best investment of your life. Statistics prove that a well prepared home spends 50% less time on the market and sells for a higher price.

Interior Designer Staci Byers of Ready to Sell PDX specializes in preparing owner occupied homes for a successful listing. Staci’s goal is to ensure clients’ homes are presented as best as possible from day one by enhancing curb appeal, creating cohesiveness and flow in the home, and adjusting interior colors of the home for optimal appeal.

The services offered are a la carte and can be tailored to suit the customers’ needs. After a thorough consultation both inside and outside the home, the homeowners will know just what they need to do to get the home ready for the market. If you are tight on time or simply want some help, Staci can manage the project from beginning to end to ensure your home is Ready to Sell.

Please visit www.ReadytoSellPDX.com for more information on services.

Staci Byers

(503)389-3293

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Hidden Gems of Portland

 

The Garden at Elk Rock

Also known as the Garden of the Bishop’s Close, this wonderful gem was established nearly a century ago on the cliffs overlooking the Willamette River. Honoring the wishes of its creator, the garden remains open to visitors, providing Portlanders with the amazing opportunity to appreciate one of the jewels of the Northwest. Populated with a diverse assortment of flora that have something beautiful to show off no matter the season, the property also preserves its native madrone woods. Take an hour, explore its pathways and be rewarded with some stunning views of the Willamette.

For more information:
www.elkrockgarden.org

Open Daily: 8am to 5pm
11800 SW Military Ln
Portland, OR 97219

 

 

Portland Underground Tours

The tour guide slides a complex key into a metal grate in the street, twists, disengages the lock and pulls open two yawning doors to reveal a steep makeshift staircase; a portal into the black belly of Portland. The mystery shrouding these Shanghai Tunnels swirls so thick as to obscure their existence from a great many locals, striding along topside, unaware of the legacy of villainy beneath their feet. The tours provide a harrowing, historically accurate adventure into Portland’s fascinating criminal history. Brave explorers meet downtown at Hobo’s Restaurant and embark on a guided educational escapade under the city.

For tickets and tour information:
http://www.shanghaitunnels.info

120 NW 3rd Ave
Portland, OR 97209

 

 

Grand Marketplace

If you’re looking to spruce up your place with something unique or stroll through a collection of memories, the Grand Marketplace is a hidden gem packed with gems from our past. Curated by a passionate group of vintage collectors, every item tells a story. More than fifteen separate vendors gather their eclectic wares in this wonderful setting. Even if you’re just dropping by to browse conversation pieces with a friend, you might just find something you can’t put down.

For more information:
http://grandmarketplacepdx.com

1005 SE Grand Ave
Portland, OR 97214

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Embrace the Rain


The rainy season is here in the Northwest, and “Oregon Sunshine” is drizzling and pouring on our lives and our homes. Now is the time to enjoy beautiful waterfalls at full force and cozy up during a storm or downpour. Some may dread the damp blanket of moisture that covers the sky, but here in Oregon, locals have learned to embrace the rain and positively harness its power. Rain barrels and rain gardens are excellent ways to utilize the 40 inches of fresh precipitation we receive each year; saving resources, money and energy is sure to put a smile on any Oregonian’s face.


Rain barrels allow homeowners to collect water for their house plants, gardens and lawns. For every inch of rain that falls on a 1000 sqft roof, a whopping 600 gallons of water can be collected. Simply utilizing this free resource can save a significant amount of money in a season, and will help conserve water usage during the drier months. Rain barrels are easy to make, and readily available to buy, so embrace the rain and start collecting that good ol’ “Oregon Sunshine” –after all, it’s free!


Rain gardens are another excellent way to make use of the drizzle. Planting native trees, shrubs, flowers and other vegetation in a natural or landscaped basin positioned near a runoff source will collect rain water like a sponge. These gardens are a beautiful way to conserve h2o, reduce stagnant water in your yard and create a wonderful habitat for wildlife. The water slowly filters into the ground before becoming stormwater runoff –that means healthier urban waterways and habitats.

However you choose to welcome the wet weather, remember all the positive ways you can embrace the rain.

Also, here’s an excellent rain garden How-To Video.

And for creating your very own rain barrel, there’s a comprehensive Do-It-Yourself Guide.

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Portland Waterfront Focus

Portland Waterfront Focus

As Portlanders, a point of pride has always been our glorious waterfront. More than merely an aquatic line of demarcation between the territory of Eastsiders and Westsiders, the Willamette and her shores are mother to much of our trademark Northwestern beauty.


Spanned by architectural wonders (the Broadway Bridge was our first bascule bridge- the longest in the world at its time of completion and currently the longest Rall-type bascule bridge still in existence), our waterfront is beautiful to behold, both in broad day and after the sun slips beneath the distant Pacific.

Whether enjoying the river views from the private comfort of a condo balcony, outdoor restaurant seating, on a lunch break in the park or while pedaling along our picturesque, paved bicycle routes… the waterfront signifies a sense of progress while hinting at our history. Our shipyards contributed to the Allied effort in WWII and still construct commercial transport ships today.


Anyone looking to get an interactive tour of our waterfront is encouraged to take a high velocity, highly informative jet boat ride with Willamette Jetboat Excursions. The tours continue through the end of September and are a genuine good time for all ages, Portland natives and visitors alike.

No matter how you choose to embrace it, get out there and experience Portland’s amazing waterfront!

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Mt. Tabor — 2025 SE 58th

$386,000 — 2 Bedrooms, 2 Baths — 1910 SF

Bright and open English with bungalow-style details. 2 blocks to Mt Tabor Park. Full of character. Built-ins, hardwoods, original trim and windows. Skylights! Kitchen & dining room both open to sunny wraparound deck & garden. Updated kitchen. Treetop master suite w/2 separate sleeping areas, plus large main floor bedroom. Semi-finished family room down. Minutes to Hawthorne and Division cafes and New Seasons, too!

Listed by: Laurie Sonnenfeld @ M Realty LLC

SOLD — 4 Days on Market

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Woodstock — 6534 SE 41st

$298,000 — 2 Bedrooms, 1 Bath — 1632 SF

Light-filled Woodstock mid-century bungalow on quiet part of 41st, south of Woodstock! Original 40s charm and details. Lovely treed street near cafes, shops and Berkeley Park! Hardwoods. Classic fireplace. Many updates including furnace, central air and windows. Tall basement w office and potential for more living area. Beautiful yard with privacy, sunny raised-bed garden and patio. Detached garage with opener.

Listed by: Laurie Sonnenfeld @ M Realty LLC

SOLD — 3 Days on Market

If we are lucky we’ll see the neighborhood peacock!

Sweet back yard with patio and tall raised bed garden for tending plants without bending.