Agent Profile
My job is service...service to you and your real estate transactions! How can you benefit from my 25 years of experience and expertise? What can I offer to make the process more productive?
* Current information on available housing...comparative and competitive market pricing and analysis
* Daily involvement in the local real estate marketplace.
* Thorough, comprehensive knowledge reflecting years of helping others complete their real estate business.
* Extensive network of professional resources to make the process as smooth as possible.
My commitment is to you! Being available to you...returning your calls...answering your questions...addressing your concerns...respecting your money...matching your timeline...meeting your expectations...helping accomplish your real estate goals!!
JANEESE JACKSON: 503-709-0802 or jj@janeesejackson.com
Are we seeing signs of life in our overall economic picture? And, how will this affect our local housing market? Could these signs be some indicators that we are near the “bottom”? This week several factors emerged that could signal a market change. The stock market showed improvement with the exception of Wednesday’s dip, the bond market fell which contributed to interest rates creeping up. The bond market is where debt is sold. Home mortgages, which are packaged together as Mortgage-Backed Securities (MBS) and US Treasuries/Bonds are sold to major investors. Basically it functions similar to the traditional stock market, with the variant being in terms of what is sold. Instead of buying shares or “ownership” in a specific company (like stock), the investors are buying the debt, and the right to collect on the debt, plus interest. If the bond market drops (high supply of debt and low demand) then mortgage rates will rise to make the MBS more attractive.
We’ve had a marked improvement in the number of homes shown in April & May. The majority of the movement in the housing sector was in the 1st-time buyer price range with smart first-time buyers taking advantage of the $8000 credit, increased inventory and lowered prices. But, this could initiate a trickle up effect into the higher price ranges. Housing in the Portland metro area was at its most affordable point since December 2004 and inventory dropped to 11 months in April (down from 19.2 months in January). See the full report at http://bit.ly/LocalMarketStats
Pending sales in Portland have continued to rise (13.6% in 2009 vs 6.8% in 2008 and -2.3% in 2007). See graph at: http://bit.ly/PendingSales
The Associated Press released this article earlier in the week touting a trio of reports which they believe gave Wall Street a lift, with manufacturing activity shrinking at a slower pace in May, new orders with US factories rose 51.5% in May, construction spending rose .8% in May plus consumers trimmed spending slightly less than forecast. Check out the entire article at http://bit.ly/Xe1P4
We still have an inventory of short-sales and foreclosures that are affecting the pricing in our local Portland Oregon real estate marketplace and unemployment remains an issue! The higher interest rates are probably here to stay and are hovering right above 5%, but still historically VERY low!!
About the Author | Janeese Jackson
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