Oregon Financing Update

Guest Author:

 

Bob Chiodo

Equity Home Mortgage, LLC

bobchiodo@equityhome.com

 

Estimated rates for the week of August 18, 2008*

 

• 30 yr fixed conforming=6.250 - 6.375      
• 30 yr jumbo=6.625 to 600k
• 7/1 jumbo=5.750 - 5.875
• OR VA=5.375 - 5.500
• OR State Bond=6.000 FHA or Conventional

Rate markets are staying steady. That’s our good news for the week. I mentioned over the last few weeks that the down payment assistance (DPA) programs are going away. Last week we had two lenders suspend the use of the DPA programs. My company announced that this week will be the last for us. I have no update for the bill that is in Congress that would keep the DPA programs - it doesn’t look like it will go anywhere though.

 

I mentioned in the last Update that Fannie and Freddie are increasing their fees. This, of course, means that rates are going up a little. The rate increases are tiered based on credit scores and loan-to-values. 740 is the top tier for the credit scores. Due to the lower risk to Fannie or Freddie on loans with Mortgage Insurance (MI), the mortgage rates/fees are actually lower on loans with 10% down  versus those with 20% down. Of course, to the borrower, the payment is higher because they have to pay for the mortgage insurance.

 

Speaking of mortgage insurance, we have seen a few companies starting to sell their hybrid or split-level MI. This is looking to be a great alternative to standard MI or to LPMI. For instance, we just did one on the hybrid that worked out well. Standard MI had an annual premium cost of .84%, the LPMI cost was 2.40% up front (which worked out to be about .625% in a rate increase) and the hybrid was only 1.05% up front (about .25% in rate) and a annual premium monthly cost of .11% The total for the hybrid worked out to be about .375% - far better than the other two options. It’s nice to see that the MI companies are working on new - or revised - products.

 

Next week I am going to cover the various types of lenders: portfolio, private, and pass-through. Hope you all have a great week.

UPDATE*UPDATE*UPDATE*UPDATE*UPDATE — FHA CHANGE

We were just notified that any FHA loan utilizing a down payment assistance program needs to be locked by this Friday 8/15 and the transaction must close by 9/19. This applies to both the Ameridream and Nehemiah programs. I have made a special request to extend the DPA programs when used in conjunction with the Oregon State Bond 1st time homebuyer program. I will know soon if we can get an extension…the extension won’t last long if approved though. Please call/email/stop by if you have any questions. Thanks.  Bob Chiodo, Equity Home Mortgage, LLC.  

 

*Rates quoted are for the use of Realtors and others in the real estate/financial service industries. They are not meant to be a quote for an individual situation. Rates change daily and those above are only listed to assist market participants by keeping them informed of current interest rates.  Quotes are usually shown for a 30 day lock period and a 1% origination or discount fee.

 

©Copyright 2008. Betty Jung. All Rights Reserved.

   

(For more local and national real estate news, click on my monthly newsletter - JUNG’S JOURNAL - on my website www.bettyjung.com) 

It’s All Local

Image from Microsoft Office.

Recently on several listing appointments, sellers have pointed out what statistics they found on Internet sites such as Trulia and Zillow to determine what the value of their home is.  Back in 2006, I wrote a newsletter to my clients about Zillow which I will quote in part further in this post. Sellers seem to rely on both of these websites (and others) as being “fact”.  Here’s my take:

TRULIA

The other evening while doing research for my blog, I wanted to see what Trulia said about housing prices in the tri-county area.  When I searched Multnomah County I found that they had included the zip codes 97223, 97224 and 97219 in their “Multnomah statistics”.  However, 97223, and 97224 are in Washington County, but in some cases have Portland mailing addresses.  Further, most of 97219 is in Multnomah County, but there is a small portion that is also in Clackamas County with Lake Oswego schools.  Therefore, whatever statistics they reported for Multnomah County are incorrect.  I only checked those three zip codes and I didn’t search any of the other counties.  There are also areas that are in Multnomah County with Lake Oswego mailing addresses and yet are in the Portland school district - who knows which county Trulia put those stats.  One can only assume then that not all their information is accurate.

ZILLOW

It amazes me how many sellers rely on Zillow’s “zestimates” as being correct and fact!  In my April/May 2006 “Jung’s Journal” real estate newsletter to my clients I wrote in part:

“I knew about Zillow.com a long time ago - before the general public was made aware of it.  As soon as I heard about it, I proceeded to try out the website and do a competitive market analysis of my own home.  They used comparables that were 10-15 miles away from my home, they used houses twice the size and in a couple of cases, 20+ years older than my own home and sales that were older than 1 year.  Further their evaluation came in $40,000 less than I knew my home was worth.”

“A competitive market analysis is an “opinion” of value”.  When doing a CMA, Realtors® determine value neighborhood by neighborhood, and street by street.  If a bank were to do an appraisal of your property, they would search for sales not older than six months, sales that occurred in your own neighborhood or in close proximity to your own home, of the same or similar size and age.  As a Realtor®, I do the same thing and I have a knowledge of the neighborhoods that cannot be developed by search engines, satellite mapping or the “flip” of a switch.”

“The information provided by Zillow is of public record but provides pricing information that looks backward rather than forward and doesn’t take into account what’s happening in the local real estate marketplace.”

Perhaps at some point these websites will get more accurate information they can provide the general public.  However, at this point, I wouldn’t rely on data from them as the final determination of the value of your home.

I have the Zillow link on my website and advertise my listings on Zillow to assist in giving them accurate data and statistics for the properties I represent.  Further, I try to provide my sellers with a broader Internet presence by marketing their homes for sale on some of those sites.

All real estate is local and it is not determined by statistics from California, Utah, Arizona, Nevada or anywhere else.  And, we Realtors® know the neighborhoods, street by street. 

©Betty Jung 2008.  “It’s All Local”.  

(For more local and national real estate news, click on my monthly newsletter - JUNG’S JOURNAL - on my website www.bettyjung.com).

One HOT Summer Day!

It has definitely been HOT and we’ve been in the triple digits. The heat reminded me of a really nice experience I recently had.  Summer’s almost at its end and I didn’t want to forget to write about this.  With all the “stuff” happening in the world I could “rant” but I decided to do a “rave” instead! There seems to be so much ”negative” talk (food prices, economy, oil, housing, etc.), but during the summer, I happened to have a complete day without any of that.  On a recent 100+ degree day, everywhere I went, people were happy, upbeat, joyful, joking, and even singing at one place I went.  How refreshing was that! 

That particular day on my way back to the office, I stopped at our local Office Max.  I’ve been shopping there for a long-time and have my “Max Perks” card and receive their coupons on-line, in the mail and in person whenever I shop there.  In addition to all of that, they send me a credit in a dollar amount based on how much I spend every month that I can apply to future purchases. 

Did I mention I liked Office Max?  Further, I found out that I get money back to recycle my printer cartridges that initially cost on average $100 apiece and I need four.  Not to mention how great and helpful the employees at the Tigard store are.  So, all in all, I’m already a happy customer. Here when it was 100+ degrees in Portland they went above and beyond.  Office Max was serving free, cold beverages.  It reminded me of “Little Havana” in Miami where they have water in front of each storefront.

On days when there seems to be nothing but negativity, it was nice to see a business, in tough economic times, thinking about the customer for a change.  (This is an unsolicited, unpaid commercial!).   In the whole scheme of things it wasn’t a big deal, but it was a big deal as far as I was concerned and a model on how other companies should treat their customers.  I could “rant” a lot about those “other” places, but I won’t.  How about a “rave” instead?  WELL DONE, Office Max!

 

Copyright 2008. Betty Jung. ”One Hot Summer Day.”

 

(For more local and national real estate news, click on my monthly newsletter - JUNG’S JOURNAL - on my website www.bettyjung.com). 

 

The Weather in Portland, Oregon

Photo from Microsoft Office.

When people don’t know what else to talk about, they usually talk about the weather.  Here in Portland, Oregon lately, the weather is being talked about a lot everywhere.  Why you ask?  The weather stations are all saying this is the longest heat-wave we’ve had in 30 years.  Actually I find all this a bit funny.  You wouldn’t be talking about our past several 100+ days in the likes of Arizona, Nevada or California; yet here in Oregon, when it gets hot people talk!

You’d think we never got any sunshine!  Many times, I’d be listening to national forecasters in the morning or the weather channel reporting it’s raining in Portland, Oregon when in fact it wasn’t.  Or I’d get a call from a friend in California saying she heard it was raining, and it wouldn’t be.  I don’t know what area in Portland those weather people were always talking about.  But, no wonder everyone keeps thinking all we do is get rain.

Years ago I was working with a client from Denver and of course, we were talking about the weather.  I told him we do get “sun breaks” in the winter months and he looked at me puzzled and asked what a sun break was!

Now that I have lived here so long, I actually like the cooler weather and the rain doesn’t bother me. The statistics for our rainfall are below. When I lived in Los Angeles, I would go to the beach 3 days a week and I never thought I could adjust to “all that rain in Portland” that was always being reported in the news. 

Right about now I wish we’d have some of that rain - I think it’s supposed to rain a couple days this week and that should end all the talk about the weather and how hot it’s been.

 

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Avg. High

45°

51°

56°

60°

67°

74°

78°

80°

74°

64°

52°

45°

Avg. Low

34°

36°

38°

41°

47°

52°

56°

56°

52°

44°

38°

34°

Mean

40°

44°

47°

51°

57°

64°

68°

68°

64°

55°

46°

40°

Avg. Precip.

5.4  in

3.9  in

3.6  in

2.4  in

2.1  in

1.5 in

0.6 in

1.1 in

1.8 in

2.7 in

5.3 in

6.1 in

 

©Betty Jung 2008.  All Rights Reserved.  “The Weather in Portland, Oregon”

(For more local and national real estate news, click on my monthly newsletter - JUNG’S JOURNAL - on my website www.bettyjung.com).

Market Update - July 2008 Stats

The Realtor’s Multiple Listing Service (RMLS), or in some areas known as the MLS, came out with their July 2008 statistics this week. Once again, our inventory remains high.  We currently have a 10 month inventory of houses to sell.  This is up from last month’s number of 9.5.  The national average is at 11 months. 

I see all kinds of media reports, blogs, etc. out there talking about the market being at the bottom or is it?  It has been reported that California, Nevada, Florida etc. are seeing some signs of life.  None of us has a crystal ball to predict the bottom.  Karl Case, who helped develop a well-regarded gauge of the housing industry -  the Standard and Poor’s S&P/Case-Shiller Home Price Indices -recently told a news agency: “Anybody who tells you they know when the housing market will bottom is delusional, but anybody who denies there are some positives out there that could make the housing market bottom fairly soon is equally delusional.”

Oregon came to the “party” later than some of the other areas in the U.S.  Our market didn’t feel the downturn until end of August/beginning of September of last year (the chart above almost shows the exact timing).  By that time, some of the other areas had been in a downturn 6 months or longer already.  What I do know is that until our inventory reaches the 5-6 month level we won’t be in an equal or good market. The inventory has to clear out before we can see the light of day and see our market improving; and, that will still take a while.  Our large inventory of houses is continuing to deflate housing prices and the value of homes here in Portland.

Pending sales dropped significantly by 22.3% from a year ago!  Those pending sales are a good barometer of our up-coming market.  It’s that look into the future to see where we’re heading and the statistics show we still have a way to go to until we clear out all of our inventory.  Closed sales in July were down by 30.2%.  The average sale price dropped by 2.4% and the median sale price fell by 0.3% compared to June 2008 levels.   Year-to-date closed sales and pending sales also declined 34.3% and 32% respectively.

The average sale price for July 2008 was down 3.5% compared to July 2007, while the median sale price dropped 3.9%.  The average market time in July 2007 was 52 days while in July 2008 it increased to 72 days on the market.

There are good values out there to purchase.  However, if you are waiting for that exact bottom or shoe to drop, you won’t know it because we will be heading upwards.  Further, any interest rate hike over 30 years will off set any gains you made by waiting for prices to drop.  None of us has a crystal ball and no one knows exactly when the bottom will occur.

Our market is still more resilient than many other states, our economy is good and we have one of the lowest foreclosure rates. Some people don’t think now is a good time to buy.  I say that if you are thinking long-term, want a house to raise families and share memories, then take advantage of some of the good prices and low interest rates out there and buy!

Weekly national mortgage survey

Results of Bankrate.com’s Aug. 13, 2008, weekly national survey of large lenders and the effect on monthly payments for a $165,000 loan:

	30-year fixed	15-year fixed	5-year ARM
This week’s rate:	6.74%	6.26%	6.34%
Change from last week:	N/C	-0.01	+0.02
Monthly payment:	$1,069.09	$1,415.65	$1,025.61
Change from last week:	N/C	-$0.90	+$2.15

©Betty Jung 2008. ”Market Update July 2008 Stats”.  All Rights Reserved.

(For more local and national real estate news, click on my monthly newsletter - JUNG’S JOURNAL - on my website www.bettyjung.com).

A Thank You For a Reader’s Comment

A Thank you For a Reader's Comment. All Rights Reserved. 2008 Betty Jung. Photo from Microsoft Office.

Recently I wrote a post entitled “In Awe“.  I received a comment from a reader we’ll call “Tim”, that I had spelled the name of the river - Deschutes - incorrectly.  Even though I had spell checked my post, apparently the spell checker didn’t recognize the famous river in Oregon.  In fact, I just spell checked this post, and it didn’t recognize the name.

The reader also pointed out to me that I was taking credit for the photographs of the lightning strike and Mt. Hood I used as the photos and encouraged me to research the “intellectual property” law.  In fact, what I was trying to take credit for was the post and not the photos at all.  Further, I paid for the right to use the royalty free photographs from iStockphotos.  It was my mistake for not acknowledging where the photos came from on my post but I was not trying to take credit for taking the pictures rather only for writing the post. 

Then to complicate matters, I wanted to thank him publicly for pointing all that out to me and making sure I did things correctly.  And in fact I tried but wound up deleting his comments by mistake instead.  Once you delete the comment, you can’t retrieve it again.  Unfortunately, I didn’t know how to post my comment to him on my blog as I hadn’t done that as yet. I had sent the reader an email thanking him for pointing these errors out to me and I made the changes/corrections to my post.  I tried to do the right thing and didn’t take it as being confrontational but only as constructive criticism, which I appreciated.  And, in fact, I have received other criticisms from friends which I took to heart and made necessary corrections. Now, through the “grapevine”, I hear that I am being criticized for not posting a public thank you for this recent reader’s comments. 

All in all, with this post I am trying to publicly thank him for “keeping me on my toes” which is what I said to him in my personal email. Thank you and I hope you keep reading and commenting!  I’ve only been doing this for a little over three months, and admittedly, I am still learning!  I’m trying to absorb everything there is to learn about blogging so that in fact I do things correctly. I’m always trying to improve my blog and I know how important it is to make sure you don’t make mistakes. 

Thanks to all of you for all your suggestions, corrections, comments, and criticisms, etc.  I guess the good news is that someone is actually reading my posts!  I’ve come a long way since May when I first started posting. I appreciate that you’re reading my blog.

Have some fun this weekend.  There are lots of farmer’s markets, festivals and movies in the park still to be enjoyed!  It will be HOT!

© Betty Jung 2008.  All Rights Reserved.  A Public Thank you to a Reader’s Comments.

(For more local and national real estate news, click on my monthly newsletter - JUNG’S JOURNAL - on my website www.bettyjung.com). 

Should I Rent or Should I Buy?

Many people are now questioning whether they should continue to rent or buy.  I am a Realtor® so what I say may have you thinking out loud…sure, she sells real estate, what else would she say?  Well, I became a homeowner at 19 and have always owned a home except for a year while I was building my current house.  Mostly, I see no reason to rent if you can afford to purchase a house.  Why would you ever want to pay off someone else’s mortgage and not your own?

Further, all indicators point to now being a great time to buy a house.  We haven’t had a buyers market like this one since the mid ’80s. Are you waiting to buy?  If you are, you might just miss out on the biggest buying opportunity in a couple of decades! Will you regret not buying in 2008?  With low interest rates, motivated sellers, and reduced prices, will people look back at 2008 and wonder why they didn’t take advantage of an ideal buying situation?   The trouble is, none of us will ever know until after the fact where the bottom was. 

Donald Trump also has a blog that I read.  CLICK HERE to see what he says about the real estate market today and how he turned a “bad market” into a good market in his favor.

With low interest rates, motivated sellers and job growth making this a great time to buy. Here are some things to think about to solve your renting vs. purchasing dilemma:

SHOULD I RENT?  SHOULD I BUY?

WHY YOU SHOULD RENT

• You don’t think you’ll stay in the area for more than three years.
• Your down payment, closing costs, up front interest won’t be recouped should you move within 3 years of your purchase.
• You don’t want to worry about making repairs. When something goes wrong and needs repair, it’s the landlord’s problem, not yours.
• You don’t want to take on a mortgage. Most people have to obtain a loan to purchase a home. That can put financial restraints on you for a long time. However, if you rent, you’re free of that large debt and having to save for a down-payment. Of those points, the first one is the most important. If you tend to move a lot from town to town, then buying a home may not be worth the time and money.

WHY YOU SHOULD BUY

• Your monthly house payment pays off your loan and not the landlord’s. It might not seem so lately, but a house does go up in value over time.That means you may make a profit when you sell the house. Also, you can use the equity from your house for tax-deductible loans.
• You get a sizable tax deduction. Uncle Sam likes and encourages home ownership.
• You are allowed to deduct from your income taxes the interest on the mortgages and other related costs.
• Your housing payments are fixed. Assuming you get a fixed-rate, 30-year mortgage, your housing payments will not change as long as you own the house. If your mortgage is $1,200 a month now, it’ll be $1,200 a month 15 years from now. On the other hand, if you’re renting your residence, your rent check will probably increase every year, and could be 30%-50% more 15 years down the road.
• You are handy and can make repairs.  You like to garden so that also means maintaining the lawn and flower beds.
• It’s your house, decorate it as you please.  Go ahead and paint the dining room red!

Now consider the current rental market. While home prices have been moderating, rents continue to rise. Where’s there economic security in not knowing how much your rent will increase in the next three years? You don’t receive any tax benefits from paying rent, nor do you accumulate any price appreciation, as you would if you owned a home of your own.

Here’s a calculator from >>>Ginnie Mae that may help you to resolve your dilemna whether to rent or buy?  Below is a chart you can also use to determine your after tax savings should you decide to buy vs. rent. 

 

Years	Rent Payment	Mortgage Payment	Monthly Difference	After Tax Savings	Yearly Difference	After Tax Savings
1	800	1000	-200	-50	-2400	-600
2	840	1000	-160	-10	-1920	-120
3	882	1000	-118	+32	-1416	+384
4	926	1000	-74	+76	-888	+912
5	972	1000	-28	+122	-336	+1464
6	1021	1000	+21	+171	+252	+2052
7	1072	1000	+72	+222	+864	+2664
8-30			Savings increase every year

 

 

©2008 Betty Jung.  All Rights Reserved. “Should I Rent or Should I Buy?”

 

(For more local and national real estate news, click on my monthly newsletter - JUNG’S JOURNAL - on my website www.bettyjung.com). 

 

 

Q2 2008 - Market Update-Condos,Attached & Townhouses

Photo from Microsoft Office

Here are the stats for three areas on the westside of Portland that include condos, attached homes and townhouses for the Second Quarter of 2008 :  Tigard (ML 151), Lake Oswego (ML 147) and SW Portland (ML 148). (HERE’S THE LINK FOR THE Q1 2008 Stats).

Tigard (ML 151):

LISTED:

• Number of condos, attached, and townhouses listed in the second quarter of 2008 = 61
• Range of list prices for condos, attached and townhouses listed in the second quarter of 2008 = $85,000 (Low) to $389,500 (High)
• Average list price for condos, attached and townhouses listed in the second quarter of 2008 = $216,011
• Average sq. ft. cost of listed properties = $168/sq. ft.

SOLD:

• Number of sold/closed condos, attached, and townhouses sold in the second quarter of 2008 = 47
• Range of sold prices for condos, attached and townhouses listed in the second quarter of 2008 = $85,000 (Low) to $372,000 (High)
• Average sold price for condos, attached and townhouses listed in the second quarter of 2008 = $211,311
• Days on the Market =  52 Days
• Average sq. ft. cost of sold = $166/sq. ft.
• Average sq. ft. of properties sold = 1283 sq. ft.
• Sold at 96.83% of original list price

Lake Oswego (ML 147):

LISTED:

• Number of condos, attached, and townhouses listed in the second quarter of 2008 = 18
• Range of list prices for condos, attached and townhouses listed in the second quarter of 2008 = $67,900 (Low) to $829,000 (High)
• Average list price for condos, attached and townhouses listed in the second quarter of 2008 = $292,888
• Average sq. ft. cost of listed properties = $230/sq. ft.

SOLD:

• Number of sold/closed condos, attached, and townhouses sold in the second quarter of 2008 = 40
• Range of sold prices for condos, attached and townhouses listed in the second quarter of 2008 = $67,000 (Low) to $820,000 (High)
• Average sold price for condos, attached and townhouses listed in the second quarter of 2008 = $269,149
• Days on the Market = 79 Days
• Average sq. ft. cost of sold = $211/sq. ft.
• Average sq. ft. of properties sold = 1275 sq. ft.
• Sold at 89.31% of original list price

SW Portland (ML 148):

LISTED:

• Number of condos, attached, and townhouses listed in the second quarter of 2008 = 241
• Range of list prices for condos, attached and townhouses listed in the second quarter of 2008 = $70,000 (Low) to $1,999,000 (High)
• Average list price for condos, attached and townhouses listed in the second quarter of 2008 = $480,602
• Average sq. ft. cost of listed properties = $368/sq. ft.

SOLD:

• Number of sold/closed condos, attached, and townhouses sold in the second quarter of 2008 = 316
• Range of sold prices for condos, attached and townhouses listed in the second quarter of 2008 = $266,500 (Low) to $694,236 (High)
• Average sold price for condos, attached and townhouses listed in the second quarter of 2008 = $465,595
• Days on the Market = 111 Days
• Average sq. ft. cost of sold = $356.50/sq. ft.
• Average sq. ft. of properties sold = 1238 sq. ft.
• Sold at 92.93% of original list price

 

 CONDO APPRECIATION

(COMPARES MARCH TO MARCH FOR EACH YEAR)

Average Sales Price          Change from Prior Year

2002                    $169,300                                      N/A

2003                    $164,100                                      -3%

2004                    $173,600                                        8%

2005                    $210,600                                      13%

2006                    $242,800                                      14%

2007                    $251,300                                        4%

2008                    $264,300                                        5%

(All data from the Realtor’s Multiple Listing Service)

Copyright 2008.  Betty Jung.  All Rights Reserved.

For additional national and local real estate information, view www.bettyjung.com and click on “Jung’s Journal” for my monthly real estate newsletter.

Orange is HOT HOT HOT

Orange is HOT HOT HOT! Copyright 2008 Betty Jung. All Rights Reserved. Royalty Free Photo Purchased from iStock Photos.

The 2009 color trends have been announced and the hottest color in decorating is orange!  It seems as though everything that’s old is “new” again!

According to decorators and designers, the orange color trend popular in 2008 will continue into 2009. It’s no surprise why, as orange is a warm, inviting, dynamic, invigorating and energetic color.  With all the doom and gloom we face daily, the designers are saying we are wanting to be surrounded by the warmth of this color.

Color forecasters are part designer, part sociologist and part predictor. They draw information from the fashion runways, auto manufacturers and the housewares industry; they scour showrooms, trade shows and magazines for trends; they consider what’s happening culturally and how it impacts our national mood. Then they take all of that information and translate it into what colors we’ll be decorating with in the next year.

The Colors Are Coming

The housing crisis, ongoing war, upcoming election and economic downturn have combined to shape Americans’ color tastes. The public is searching for colors that are safe, traditional and comforting. But the pops of bright colors, from crimson to acid yellow, suggest we’re ultimately hopeful about the future.

Neutrals are ”in” for those larger purchases like cars, sofas or carpet in such colors from rich gray to camel, The trendier colors, like acid green or amethyst, they say, will be used for accent pieces.

Benjamin Moore Paints®  just released their 2009 palette of colors.  According to this paint retailer, elegance and luxury have been abandoned and replaced with sensibility and cultural awareness.  A respect for nature and fundamental human values are deep within the emerging color trends for 2009.

All the decorating magazines are saying that chocolate brown is on the wane.  Lighter browns are beginning to make an appearance. Decorators are seeing that browns are shifting to the colors of spices and beverages like mocha and cinnamon.

Which neutral might just surpass brown as the favorite? Gray…they say. And, it covers a wide range of hues, which span soft gray to charcoal to hematite, and gain interest from metallic and pearlescent accents.

Green continues in popularity due to the growing movement toward “green living”. It is in everything from fabrics to accessories to countertops.

What’s Not Selling?

Decorators say that while you’ll see elegant gold in designs from traditional to Tuscan, don’t look for sunny true yellows in American homes (although Europeans love them). And, the trend toward violet, wine and amethyst is edging out soft lavenders or true purples. These colors, which were so popular in the 1980s, have taken a back seat to their bolder cousins.

Photo from Pottery Barn.

The other evening I happened to go to my local Pottery Barn®, walked in and “orange” was everywhere.  Either the decorators are all correct or they are trying to convince us they are. (Picture from Pottery Barn® website).  Even at Nordstrom® the other evening, I saw that orange is appearing in women’s clothing for fall.

Get that paint brush out and start painting!

P.S. Rachael Ray should be happy as “orange” is her favorite color.

Copyright 2008. Betty Jung.

(For more local and national real estate news, click on my monthly newsletter - JUNG’S JOURNAL - on my website www.bettyjung.com).

In Awe

"In Awe" Betty Jung 2008. All Rights Reserved. Royalty Free Photo & Purchased from iStock Photos.

This evening the weather channel said there would be lightning strikes in our area.  It reminded me of something that happened several years ago. I had been a part of a 16-woman group of white-water rafters.  Every year we went somewhere else to raft or kayak.  The first year we went to the Deschutes River in Eastern Oregon and yes, we did “box car” and the other rapids.   On the drive over to the Deschutes, there were lightning strikes like I had never seen.  We had our own fireworks show and they kept lighting up the sky and our way the entire trip over there.  It was dark and desolate, but I don’t think there are enough colors in a Crayola box to color the sky show I saw. Never have I seen such incredible lightning.  I was in awe.

On our way back from eastern Oregon we stopped at a rest stop.  While sitting and waiting for the rest of the gang, I saw geese flying north in their V formation.  It’s a sight we often see in Oregon.  However, what I had never seen before was how they all connected.  It was if an email had been sent out to each one because they were all coming from different directions in the sky.  East, west, north and south - they were flying in from all over and they all reached the same spot.  How did they know that there was a V forming heading north at that particular place in the sky?  I’d never seen that before. When I’ve seen a V formation other times, I just naturally assumed it started out that way! I was in awe.

The second year, we went to the McKenzie River and slept in tepees along the McKenzie.  The river was a totally different experience than the Deschutes, gentler and rolling going under covered bridges.  In the middle of the night, sore from sleeping on a cot, I had to get up and stretch my legs.  Once I stepped outside, I was in awe.  Never, ever and even until this day, have I seen such an incredible sky.  It was entirely lit up by stars and there were so many of them they were almost touching one another.  It literally took my breath away. I remember gasping out loud as I was in awe.

On another trip, we took a 16-person wooden canoe and paddled down the Columbia River and even landed at a spot where Lewis and Clark had stopped to rest.  As we rowed, I saw the most incredible Osprey along the way with their huge nests.  I’d never seen an Osprey before and I was amazed at their strength and their grace at the same time.  I was in awe.

Eleanor Roosevelt once said something that has become my absolute favorite quote: “Life isn’t measured by the number of breaths we take, but by the moments that take our breath away.”  

(I’ve seen where this quote has been attributed to an anonymous author yet I’ve also seen it attributed to Eleanor Roosevelt.  I’d like to think it was Mrs. Roosevelt’s quote!).

"In Awe" Betty Jung 2008. All Rights Reserved. Royalty Free Photo & Purchased from iStock Photos.

We are blessed to be surrounded by such incredible natural beauty in Oregon.  I am in awe many times when I look at a sliver or full moon, when I see cloud formations, when I watch an eclipse, the sight of a double rainbow, when I smell the first rain, when I see a sunset, when I watch snow flakes falling, when I see all of Oregon’s shades of green or when Mt. Hood is out in all her glory.

How many times have you seen something that has taken your breath away?  I hope many times over.

 ©2008. Betty Jung. All rights reserved. “In Awe”. 

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