Our Listing on the New York Times Website!

Check out our listing at 3105 SW Raleighview Drive on the New York Times website here!

Noble Rot Has Sunday Refreshments After Open Houses!

1111 E. Burnside

As you probably know, Noble Rot is a fantastic wine bar – voted Best Wine Bar, 2009 by Sunset Magazine. This is one of our favorite spots of all time, and it has evolved as a restaurant to include a full bar and a substantial menu that still emphasizes local and seasonal foodstuffs. Happily, they’ve decided to be open on Sundays from 4:00 – 9:00. With the spectacular view and deck, this is the perfect place to unwind after an Open House. Of course this is from a Realtor’s perspective. If you are selling your home, and trying to keep the kitchen immaculate, they are open every night. As a Buyer you might be bushed after travelling all over to see various properties (every Open House is mapped at our Web site). If you spent the day touring homes, stop by to sip and nosh and compare notes on the properties you toured. So civilized!

Zen-like Contemporary in Raleighwood

You will love this transformed Raleighwood contemporary and its graceful garden setting!

Remodeled throughout, this 3 bedroom / 3 bath home emphasizes the link to the garden and the open floor plan is filled with light – a perfect Northwest-style Contemporary! Generous formal living and dining rooms are anchored by a dramatic hearth and a wall of windows with fabulous views. The spacious, all new kitchen is a

perfect hub for everyday as well as entertaining, with top-notch materials and appliances. The large family room enjoys a fantastic view of the valley, and could be a second Master Suite. A stunning landscape by master designer Kurisu means beauty is framed through every window and door. The terraced garden, with beds, fruit trees and berries, is perfect for the urban farmer. With terrific access to everything, this secure and bucolic setting has it all.

• 3 Bedroom / 3 Bath / 2-Car Garage / 2,285 SF

• Master Suite Opens to Garden and Water Feature

• Spacious New Kitchen

• Wood-burning Fireplace with Gas Ignition

• Gorgeous Japanese Garden / Terraced beds

• Wrap-around Deck with Valley Views

• 5 Year New High Eff. Furnace / Central A/C

• Taxes: $4,472

• Raleigh Park Elementary, Whitford Middle, Beaverton High

• RMLS# 10008514

Portland in Top 10 Cities Where it is Smarter to Buy Than Rent

This Week’s Economics Discussion

There is every reason to believe the recovery is fully entrenched. There are figures to indicate that GDP growth is stronger than expected. However, inflation is a genuine concern due to high deficit spending. This is probably the mushy bottom that we expected to see. Smart investors looking for long-term cash flow or appreciation will be rewarded and timers of the market may be at risk. This is a great time to buy. There is still seller uncertainty but it is exciting to look forward and see great possibilities ahead.

Some Data to Chew On:

· Unemployment claims 4-week average over the past 40 weeks has plunged from 659,000 to 441,000. This is substantial

· Case-Schiller’s House Price Index over the past 8 months appears to have increased at 6.2%

· Retail sales appear to have increased at a 3.5% in Q4 suggesting REAL consumer spending increased at a 2% clip

· Federal tax receipts have increased at a 12.7% rate over past 6 months indicating INCOMES are GROWING

· Corporate profits have surged over the past 3 months as federal tax receipts show massive increases of close to 600%

· US real GDP is on track for 4.5% growth in Q4

 Headwinds:

· Small business hiring remains at recession lows. It is amazing that employment has improved, given this fact

· Credit is still largely unavailable to small business

· Homebuilders show very weak activity as mortgage apps plunged to a 12-year low

 Signs of Inflation:

· Treasury Inflated Protected Securities have turned up significantly. A true sign of inflation

· Economic Cycle Research International has turned up as well. This is an important decision tool

· US core import prices have increased 20.5% in past 6 months

· CPI has swung from -1.9% to +2.8% Y/Y

· India CPI up +20.5% in past 6 months

· Israeli CPI up 4.8% in past 11 months

 The above information was compiled by our Principal Broker, Tom Burk

Belluschi Pavilion

Here’s a happy ending story to warm the hearts of modernists. A modest pavilion designed by Pietro Belluschi will be reassembled on the Marylhurst University campus just south of Portland, OR (Oregonian article). Belluschi was one of the architects, along with John Yeon, John Storrs, Saul Zaik and others, credited with creating the Northwest School, a branch of modernism with a regional flavor that celebrated our landscape and materials. This pavilion has been in storage, disassembled when its original site was redeveloped. A similar story saved Oregon’s only Frank Lloyd Wright house which now stands in the Oregon Garden in Silverton, OR. While something of the original experience is certainly muffled by the change of location, it is wonderful that these historically significant buildings have been saved!

Giving Thanks

These certainly are interesting and trying times. It has been a challenging year for most of us, and painful for many. Still, we have much to be thankful for. Doug and I are very grateful for the support and loyalty of you, our clients and friends. We are glad to associate with top notch professionals at our office and in our transactions. We look forward to a healthier and more stable economy, and we have reason to hope for this by next Thanksgiving. The new Case Shiller report documents a continued positive trend for housing, press release. Our market, especially close-in Portland, has proven to be resilient, our Sellers pragmatic, and our Buyers informed and respectful. Add good health to the above, and we certainly have reasons to celebrate this holiday with full hearts (and bellies!).

Wishing you and yours the very best,

Tom and Doug

Economic Bullet Points

As we’ve noted previously, our Principal Broker is a engaged student of the global economy. He recently shared the following with us. Bottom line: signs continue to support a guarded optimism, and interest rates as well as inventory make this a powerful time to be a Buyer.

• Employment has increased in 12 industrialized countries this year (2009)
• Economic indicators across the world show significant increases:
•      China – vehicle production +153%
•      Canada – housing permits +98.4%
•      China – goods imports +75.4%
•      Eurozone  – auto sales +62.8%
•      Australia – housing permits +52.5%
•      Korea – industrial production +46.8%
•      Japan – industrial production +39.95%
•      Brazil – industrial production +19.9%
•      Australia – housing permits +10.8%
•      US / China – store sales +5.6%
• Case Shiller house-price index is expected to trend up in November due to mortgage rates and tax credit. Housing prices are increasing in 10 industrialized countries that saw decreases one year ago, Press Release.
• Vehicle production has averaged 8.2 million for November. Combined with a stronger than expected October, this may explain why steel production is up 49.6% annualized.
• PPI has increased due to surges in fuel and food, but a drop in core service costs offsets these increases and keeps inflation concerns at a low level for the time being.
• Home foreclosure filings fell 3% in October for the third straight month.

On The Other hand:

• Eurozone GDP growth exists, but is fragile.
• Economists are revising their GDP growth projection down to 2.3%. The excess in labor is disturbing and low GDP growth will not create jobs.
• Mortgage applications rose 3.2% last week due to huge jump in refinancing. However, demand for money for home purchases sank to a nine year low.
• House prices nationally continue to be impacted by heavily discounted properties that impact sales figures.

Economy Snapshot

While it’s premature to burst into song ala “Out of The Woods” from the Wizard Of Oz soundtrack, things are looking much better. Richard Read at The Oregonian reported on local and national improvements (here it is if you missed it, it’s a good read). The trend graphs of key indicators show many positive developments, check it out at NYT.com. Interest rates remain excellent and banks are lending money to qualified borrowers. FHA loan rates are also great and you don’t need 20% down to get financing. Because of a general erroneous sense of things, this is still news to many people who want to take advantage of this market, but thought they couldn’t get a loan. Don’t assume! Call a qualified lender and get the real skinny!

Cute Little House Needs an Owner

Only $205,000

Stopped by this cute little two bedroom yesterday. Everything has been updated, lots of stone, hardwoods, fireplace, great landscaping. Just north of Powell Blvd. Someone should snap this up!

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