The Ice Cream Social is an opportunity for Boise businesses to say thanks to our neighbors, keep in touch and give back. Please join Vintage Real Estate, and 32 other Mississippi businesses for a FREE scoop on Tuesday, August 23rd from 6:00-7:00…or until the ice cream runs out! 

Mortgage lenders, many of whom are still working through foreclosure documentation problems that surfaced last fall, also took back fewer properties in May, the second monthly decline in a row, foreclosure listing firm RealtyTrac said Thursday.The delays continue to push the 2 million U.S. homes already on banks’ books or in some stage of foreclosure further into limbo and put banks on track to repossess about 200,000 fewer homes this year than in 2010, the firm said.“The problem with that, even though it sounds better, is that all of those foreclosure auctions we should have seen this year roll into next year, and that means it’s going to take that much longer for the housing market to recover,” said Rick Sharga, a senior vice president at RealtyTrac.The pace of homes entering the foreclosure process and those ending up as bank-owned properties began slowing sharply last fall, when allegations surfaced that many banks relied on erroneous documents when they foreclosed on thousands of homes.Since then, banks, federal regulators and state attorneys general have been reviewing how foreclosures were carried out the past two years. That has prompted lenders to resubmit paperwork on foreclosures and, in states where courts play a role in the process, caused a logjam of foreclosure cases.Lenders also have put off on taking action against delinquent borrowers as U.S. home sales slowed this year.In many cases, banks are only going forward with the foreclosure process as quickly as they can sell the properties they already have on the market, Sharga said.Banks have almost 900,000 properties already on their books, so if the ones on the market aren’t selling, there’s little incentive for them to take back more homes that will end up sitting vacant.Combined with the 1.1 million homes in some stage of foreclosure, the properties represent more than three years of housing inventory at the current sales pace — and that’s if no other homes go into foreclosure.The backlog spells further declines in home values, as homes in foreclosure sell at a 20% discount on average, and those discounts erode prices throughout a neighborhood.One bright spot is that the number of home loans at least 90 days late has fallen five quarters in a row and is the lowest since the start of 2009, according to the Mortgage Bankers Association.That’s partly because loans made after the credit crisis, when lenders tightened underwriting standards, are not becoming delinquent as often as riskier loans made between 2005 and 2007. That means fewer of those loans are likely to fall into foreclosure.

 Mississippi Ave.  Market
Mason and Mississippi in Q Center Parking lot
Saturdays,  8 a.m. – 1 p.m.
May 7 – Sept 3rd

King Neighborhood Market
NE 7th and Wygant
Sundays, 10 a.m. - 2 p.m.
May 2 - October 31

Alberta Farmers’ Market
NE 15th and Alberta
Saturdays, 10 a.m. - 2 p.m.
May-September

Hollywood Farmers’ Market
NE Hancock between 44th & 45th
Saturdays, 8 a.m. - 1 p.m. (starts at 9 a.m. in November)
May 1 - November 21

Interstate Farmers’ Market
3550 N. Fremont (near Overlook Park)
Wednesdays, 3:00 - 7:00 p.m.
May 20 - September 30

It may look tropical but this tree grows quickly, is hard to get rid of and can be very damaging to your foundation. Named tree of heaven (Ailanthus altissima). This tree, often incorrectly referred to as stinking sumac.  It has run ramped through North Portland!

 Tree of heaven was originally introduced from China as an ornamental tree. You might know it from ‘A Tree Grows in Brooklyn.” It certainly flourishes in city landscapes. I have even seen it growing two stories up on the side of a stone building and in a neglected gutter. This tree is easy to spot come winter when the leaves have all fallen. It has a smooth, gray bark with little white markings. As a seedling, it grows almost straight up with one or two branches also growing upward. One of the most recognizable features is the smooth, red brown bark of its branches.

Often there will be one or two larger trees surrounded by a legion of these straight and erect seedlings. If you happen to see this tree on your property, do not cut it down. When this tree is cut down, it goes into self-protection mode, sending out dozens of shoots that can sprout up quite a distance away, it seems as far as 50 feet. It will also resprout from the stump.

I try to avoid using chemical means whenever possible, but sadly the only realistic means to deal with tree of heaven is with herbicides. Your local county weed management program can give you detailed information on how to combat this pesky plant using a simple method called “hack and squirt.”

We have seen this tree completely destroy older home foundations and can be a real challenge to get rid of.  If you spot roots growing near your foundation or in your yard don’t let it fool you as a nice tropical plant! 

Four Fundamentals Give any Room a Sense of Style

Sometimes it seems as if what constitutes good design is purely subjective. One client rejects any home with French Provincial furniture. Another will look only at ultramodern interiors. And then there’s the guy with the Leg Lamp.

But if taste sometimes seems arbitrary and fast-changing, there are core principles of all good interior design that are timeless, says Attila Lawrence, head of the interior architecture program at the University of Nevada, Las Vegas.

Keep these three basic design principles, plus functionality, in mind as you view homes, and you’ll be able to help sellers optimize their home’s appeal and help buyers look past shag carpeting and poor furniture layout to see a room’s potential.

1. Balance

Balance means using furniture and other objects to make each part of an arrangement roughly equal in visual weight so that one area harmoniously complements the other. Perhaps the easiest way to achieve balance is through symmetry, where one side of a room exactly matches the other. It’s balanced, but it’s also formal, says Lawrence, which may not be the look that appeals to a specific buyer.

Balance can also be asymmetrical, with one large piece of furniture offset with several smaller furniture pieces or objects. “You want to achieve a visual symphony in which every ‘note’ is appropriate to the function of a room and nothing is distracting; it’s like a great musical composition,” says Lawrence.

2. Harmony

Harmony in a room occurs when all parts of the ­arrangement — from furniture to accessories to wall color — combine to create a pleasing whole. An easy way to achieve harmony is through repetition—in color, texture, or shape. So a green chair might be echoed by green in the draperies and green pillows on the sofa. Repetition doesn’t necessarily mean duplication, however. You can change color intensities, for example, from a deep to a lighter hue, and still gain a sense of repetition.

But don’t go overboard; too much repetition can make a room feel predictable and boring. “An orchestration of related elements helps us comprehend and connect objects in relation to the space. Without that connection, the space seems to lack a sense of unity,” says Lawrence.

3. Emphasis

Every well-designed room needs a focal point — a fireplace, a terrific view framed by a compelling window treatment, or a powerful painting — to draw the eye into the space. Large spaces may need several points of emphasis.

“It’s the contrast between what is emphasized and what is not that creates interest in a space. Without a focal point, there’s no place for the eye to rest and the interior seems uninteresting,” says Lawrence. “With a focal point, you can immediately respond to the aesthetics of an interior space.”

4. Functionality In a home, the adage “form follows function” (made famous by master architect Louis Sullivan) should be the golden rule. A room where children will play and the family will gather needs furniture with durable fabric, a layout with space for blocks or homework, and relaxed furniture styles to fit the room’s many functions.“Everything in a given space should be appropriate to and support the experience of what will take place there,” says Lawrence.

The days of making fast money in Real Estate are over but is buying a home in Portland Oregon a good long term investment? 

A Businessweek.com analysis of home sales data from the National Association of Realtors shows that in 18 of the nation’s 25 biggest metro areas, home prices grew in value between 1990 and 2010. In one area the change in real dollar price was as much as 85 percent, a return applying only to those who bought homes as a long-term investment, not for easy money flipping real estate. Seven of these metros lost value—generally the result of overbuilding during the real estate boom. Despite recent housing woes, real estate remains one of the best investments the average American can make. And unlike a stock certificate, it provides a place to live.

Rated #1-  Portland-Vancouver-Beaverton, Ore.-Wash.

Getty Images

1990 Price: $130,590 ($78,200 in 1990 dollars)
2010 Price: $242,100
Change in Real Dollars: +85.4 percent

Population: 2,241,841
Year Home Prices Peaked: 2007

Notwithstanding recent declines, Portland area home prices (adjusted for inflation) remain significantly higher than 1990 levels. The median price rose quickly from 2004 through 2007, peaked at about $311,000 (in 2010 dollars) in 2007, and has since dropped by about 22 percent. Moody’s Economy.com and Fiserv predict prices will reach their trough in fourth-quarter 2011.

Take a look at some of our median sales prices in our inner city neighborhoods, (according to Tulia).  Portland is still a great place to live, affordable and a good investment.

Overlook- $279,950

Piedmont- $225,085

Kenton- $192500

Portsmouth- $201,500

Boise- $206,125

Sabin- $372,500

Eliot- $274,500

Arbor Lodge- $259,475

Alameda- $412,412

Come learn more about these great neighborhoods and about our local market on Thursday February 10th at 6:30 pm.   A lender will be present to answer any questions you have about qualifying for a home loan at today’s great interest rates.  We will be giving away a $25 gift certificate to Casa Naranja and serving snacks!  It’s free and informative to buying your first home.   See you then, 4039 N Mississippi Ave., next to Salty Dog and Cat shop in the NuMiss building between Skidmore and Shaver.  

Heidi Corday has joined our team at Vintage Real Estate.  She is an experienced Real Estate agent of over six years.  She is very excited to be back working on North Mississippi Ave. and very framiliar with the inner city markets.  Not only is she an absolute joy to be around she also brings new enthusiasm to our team model.   It is our goal to all work together to give you, your friends and family the best service possible when buying or selling real estate.   Heidi and Jamie from Northwestern Loans will be conducting a first time home buyer class on Feb. 10th at 6:30 at our office at 4039 N Mississippi Ave.   This is a great opportunity for anyone you know thinking of buying their first house to ask questions about loan types, inner city neighborhoods, the inspection process, and the costs associated with buying a home.  Come by for snacks and meet Heidi!