Sell High and Buy Low

Market Update

As the employment situation continues to raise concerns, fixed rates fell even lower, slipping yet again to new record-lows, according to a survey from Freddie Mac released Thursday.
The 30-year fixed-rate mortgage averaged 3.67 percent (0.7 point) for the week ending June 7, falling from last week’s average of 3.75 percent. Last year at this time, the 30-year fixed was 4.49 percent. The 15-year fixed rate declined even further below 3 percent to 2.94 percent (0.7 point), down from last week’s 2.97 percent. A year ago at this time, the 15-year was 3.68 percent.
“Fixed mortgage rates reached new record lows for the sixth consecutive week as long-term Treasury bond yields declined further following downwardly revised economic growth and job creation data,” said Frank Nothaft, VP and chief economist for Freddie Mac. Nothaft cited recent reports showing gross domestic product rose only 1.9 percent in the first quarter as well as the disappointing 69,000 jobs added in May.
In addition, the unemployment rate moved to 8.2 percent from 8.1 percent the month before in April. The 5-year ARM remained unchanged from last week at 2.84 percent (0.7 point); a year ago, the 5-year ARM averaged 3.28 percent. The 1-year ARM moved up to 2.79 percent (0.4 point), up from last week’s 2.75 percent. Last year, it averaged 2.95 percent. Bankrate also released its survey on mortgage rates and reported record-low averages. The 30-year fixed slipped to 3.92 percent, down from last week when it averaged 3.94 percent. On the other hand, the 15-year fixed rose slightly to 3.16 percent from last week’s 3.15 percent. The five-year fell to 2.99 percent from 3.01 percent last week.
Bankrate’s national survey uses data provided by the top 10 banks and thrifts in the top 10 markets.

Local Community Update

Hello Friends and Neighbors!

It is a busy time for Tree City Real Estate, but we wanted to update you briefly on a couple of exciting local events!

Thanks to everyone's support, the community skate park was approved by the City of Happy Valley!! More news to come on this as we are updated!

Also, this weekend kicks off the grand opening of the Sunnyside Farmers Market!! Every Saturday, starting this weekend, head on over and show your support to the local vendors in our community! What a great way to meet and socialize with the wonderful people of Happy Valley. For more information, including a list of the vendors participating, vist the Sunnyside Farmers Market website!

Property Showcase

14824 SE Frye Street

Happy Valley, OR 97086

Beautiful home new on the market!! This home has all the bells and whistles! Boasting 4,031 square feet, the McKinley floor plan has 6 bedrooms, 3 bathrooms, cherry cabinets, granite counter tops, stainless steel appliances, oven with warmer drawer, a Barista between the kitchen and dining rooms, hand-scraped 4" knotty alder hardwood floors, 3 fireplaces, a theater room that includes a microwave, built-in refrigerator, projector and screen! This home has surround sound throughout the interior and in backyard! The master bedroom includes a dual fireplace and 11x9 closet! Third story dormer can be used as 6th bedroom or bonus room with sink, refrigerator and skylight! A craft room in the laundry room, wrought iron open staircase, large backyard with hot tub on the deck, small shop with RV parking and fenced with room for a garden! Mountain and valley views, corner lot ... the list of amenities goes on and on!!

You MUST come see this IMMACULATE home!! Priced at $489,900, it won't last long!!

Give Tree City Real Estate a call TODAY!!

(503) 421-1562

Local Business Showcase

Elkins Construction Company

18419 SE Mill Street

Portland, OR 97233

503.260.2254 / 503.708.1638

www.elkinsconstcompany.vpweb.com

If you are thinking of doing any kind of remodeling to your home, from roofs to floors, and everything in between, give Elkins Construction Company a call! Locally owned and operated, Elkins Construction has over 30 years of experience with interior and exterior remodeling, winterization packages, dry rot repair, energy efficient upgrades and more! Call today to find out what their current specials are and ask how these professional remodeling contractors can help you and your home!

Happy Valley Skate Park Meeting

The proposed facility will present beginner type levels of difficulty, with the largest structure within the skate park area estimated to be 4 feet high. Younger skaters will be drawn to the facility due to its limited complexity and the reduced pressures associated with a larger skate park.
Although North Clackamas Parks and Recreation District (NCPRD) has plans for an approximate 2 acre destination facility at Hood View Park, these major capital projects require a large contribution from system development charges (SDC’s). Given current collection rates, it is anticipated that this large scale project is more than 5 years out.

City Council encourages all interested parties to attend the Open House on April 26th. This community forum will give the Council a better understanding of what Happy Valley residents think about the skate park proposal. If you have any questions prior to the meeting, please contact Chris Randall, Public Works Director at (503) 783-3842.

Property Showcase

11161 SE Vista View Lane, Happy Valley OR 97086

MLS #11102072

This spectacular 3-level Happy Valley home boasts 5978 square feet, including 5 master suites, 5 and a half bathrooms and a home office! Old world quality and a contemorary interpretation of classic design, this stunning home features only the finest materials from around the world. Formal entry, exotic woodwork, Italian tile, and granite kitchen. Three-car garage, RV parking, and beautiful landscaped yards.

For more information, please call Tree City Real Estate at (503) 421-1562.