2009 Ends in a Buyer's Market

Sales are up in the Portland Metro area compared to a year ago, according to October's RMLS Market Action newsletter. Portland continues to be a buyer's market.

Pending sales were up 64% compared to October 2008 and closed sales rose 37.1%. New listings dropped 4.5%. The average sale price for October 2009 was down 12.6% compared to October 2008, while the median sale price declined 10.9%.

In addition to lower home prices, the federal tax credit for first-time homebuyers is likely adding to the increased sales. The tax credit was scheduled to end on November 30, but congress passed an extension on this program!

The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. In addition, the Act created a tax credit of up to $6,500 for qualified existing home owners purchasing a principal residence after November 6, 2009 and on or before April 30, 2010.

Take advantage of this great opportunity to own a home of your own!

To read the full RMLS Action Newsletter, click here. For more information on the federal tax credits, visit http://www.federalhousingtaxcredit.com/.

PDC Housing Department is Moving!

Portland Housing Bureau (formerly Portland Development Commission Housing Department) will be at our new location in the Commonwealth Building on November 16, 2009.

421 SW Sixth Avenue, Suite 500
Portland, Oregon 97204-1629
www.portlandonline.com/phb

For Housing Bureau inquiries, please call 503.823.2375. To contact us about our various homeownership and homeowner programs, please continue to call 503.823.3400 or email nhp@pdc.us.

Please note that that there may be brief interruptions in service as we move our offices.

Portland Development Commission (PDC) has NOT changed its location, just the Housing Department is moving. All other correspondence, including loan payments, should continue to be sent to the PDC address: 222 NW Fifth Avenue, Portland, OR 97209.

Co-Housing Tour November 7

On Saturday, November 7 the National Cohousing Association is sponsoring a tour of five Portland-area cohousing communities. We will be touring Columbia EcoVillage, Penninsula Park Commons, Daybreak Cohousing, Cascadia Commons and Trillium Hollow. With lunch at Daybreak!

Go to http://www.cohousing.org/civicrm/event/info?reset=1&id=39 for more information and to register at the National Cohousing Association website.

Event Information
November 7th, 2009 8:00 AM - 5:30 PM
Come join us on this "traveling workshop" and very special tour of a rich variety of the Portland Area cohousing communities. Portland is a very vibrant city and home to many Cohousing communities

As you travel between each location on a comfortable bus, the guide will give participants a chance to introduce themselves, share general information about cohousing, answer questions, provide fact sheets and site plans, and prepare you for your ~40-minute visit to each community. At each stop, a community host will guide your group through his or her neighborhood and answer questions. We look forward to having you join us for a day full of learning, community building and fun.

On this tour you will visit these five communities:
Columbia Ecovillage (NE Portland)
Peninsula Park Commons (N Portland)
Daybreak Cohousing (N Portland)
Cascadia Commons (West Slope Area - Portland)
Trillium Hollow (Cedar Mill - Portland)

This tour will be co-led by two knowledgeable cohousing residents, one local. The cost includes a yummy lunch which we will enjoy at Daybreak Cohousing, one of our host communities. The tour will start and end at Columbia Ecovillage - which is located near North/South and East/West bus stops and a parking lot. Specific location details will be included in your registration comfirmation email.

For more information, and to register, CLICK HERE.

Homeownership Fair October 24

See below for details!

AAAH 11th Annual Homeownership Fair October 24

The African American Alliance for Homeownership announces its 11th Annual Homeownership Fair on Saturday, October 24.

* Access housing resources

* Visit over 50 housing professionals

* Attend a First-Time Homebuyer/Foreclosure Prevention Workshop
* Learn how to qualify for the “Making Home Affordable Program”
* Enter to win a $1,000 grant give-away & other great prizes!

Saturday, October 24, 2009
10:00am – 2:30pm
Emanuel Hospital Atrium ● 501 North Graham ● Portland
* FREE TO THE PUBLIC *

For more information on the fair, visit http://www.aaah.org/ or call 503.595.3517

Hacienda CDC Offers Free Homebuyer Class: November 7

The ABCs of Homebuying

The purpose of this course is to educate first time home-buyers in all aspects of the home buying process and homeownership responsibilities. The course is designed to assist all participants in making sound decisions when purchasing a home and advice for preserving their home.

Saturday– November 7th
9:00 am - 5:00 pm
Baltazar Ortiz Community Center 6736 NE Killingsworth St. Portland , Oregon 97218
Lunch will be provided
Childcare will not be provided

To register, or for more information-
call Luke Bonham, 503.961.6413

http://www.haciendacdc.org

Space Available for October 8 Homebuyer Workshop!

The "How to Buy a Home Through PDC Workshop" is Thursday, October 8. We still have some room available for this class, so sign up today!

You can register online by clicking here, or call 503.823.3400.

PDC has many programs to help you into a home of your own, including first mortgages, down payment assistance, Mortgage Credit Certificates, and more!

Attend this class to learn the entire homebuying process, from pre-approval to what takes place after the loan closes and the construction work begins! Loan officers and construction specialists will be available to answer individual questions at the end of the session.

Hope to see you there!

Foreclosure Prevention Information Session

Hacienda CDC, a HUD Certified Housing Counseling Agency, will be offering a free information session explaining the federal program "Making Home Affordable." We will help you through the process of making an informed decision about the future of your home.

Date: Every Wednesday
Time: 5:30 pm – 6:30 pm
Where: Ortiz Community Center, 6736 NE Killingsworth Ave, Portland OR 97218
Cost: Free

Presenter: Omar Martinez, Rudy Ulin, HUD certified housing counselors
Information:
Languages: English and Spanish

Contact: Luke Bonham
Phone: 503-961-6413
E-mail: lbonham@haciendacdc.org

For more information, visit: http://www.haciendacdc.org/Programs/HomePreservation.html

Latino Home Buying Fair This Saturday!

The Latino Home Initiative's Annual Home Buying Fair is this Saturday, September 26 from 10:00am-4:00pm!

Join us at Portland Community College's SE Division Campus located at:
2305 SE 82nd Ave., Portland, OR 97216

LHI will be awarding grants to eligible families for the purchase of their home!

At the event there will be seminars in English and Spanish, entertainment, children's activities, food vendors, and about 25 information booths. Event sponsors include Portland Development Commission; Point West Credit Union; Portland Housing Center, Portland Housing Bureau, US Department of Housing and Urban Development, Univision, El Rey 93.1, and Tri-Met.

Hope to see you there! Learn more about LHI at http://www.latinohomeinitiative.org/

August 2009 RMLS Market Action Published

RMLS™ Market Action - August 2009

The latest Market Action report is now available from RMLS™ (Regional Multiple Listing Service) for the reporting period of August 2009.

To view the latest Market Action report for your area of interest, click the corresponding link below:

- All Areas (52 pages)
- Baker County
- Columbia Basin
- Coos County
- Curry County
- Douglas County
- Lane County
- Mid-Columbia
- Portland Metro
- SW Washington
- Union County
- Wallowa County

For further insight on Market Action stats, RMLS™, industry updates, and more, make sure to follow us on Twitter at http://www.twitter.com/rmlsweb or read our new blog at http://blog.rmlsweb.com.

Who's RMLS™ anyways?
Read their FAQ to find out!

Pardee Commons Grand Opening Tomorrow!

The Portland Development Commission, Albina Community Bank, Cityhouse Builders LLC, and Proud Ground will hold a grand opening celebration for Pardee Commons. This ten-unit home ownership project combines deep affordability and sophisticated green building. With certifications pending as Earth Advantage Platinum and Oregon High Performance Homes, Pardee Commons brings a new level of wellbeing to our community.

Join City of Portland Commissioner Nick Fish and PDC Commissioner John Mohlis in the celebration of home tours and free ice cream.

For more information, visit http://www.pardeecommons.com/!

Hope to see you there!

Stay Warm this Winter! Weatherization Workshops at NAYA Family Center

Are your doors and windows drafty? Worried about high heating bills?
Learn how to weatherize your home with local non-profit Community Energy Project (CEP).

Weatherization Workshops at NAYA Family Center
Wednesday, October 7, 2009 or Wednesday, December 9, 2009
Dinner Served at 5:30pm; Workshop 6-8pm
Workshops held at: NAYA Family Center; 5135 NE Columbia Blvd; Tri Met #75

Workshop space is limited, please register by contacting: Jen Matheson, NAYA Family Center, 503-288-8177x297; jenm@nayapdx.org

This two-hour workshop is FREE for any renter or homeowner who wants to learn how to save money on utility bills; conserve energy and stay warmer this winter! Income-qualified participants can receive a free kit of weatherization supplies valued at $150. If you are over-income you can purchase the supplies directly from Community Energy Project.

CEP also offers other fabulous workshops on water conservation and lead poisoning prevention and free weatherization installation and minor home repair for Seniors (55+) and people with disabilities.

Ramona Street Fair this Saturday - Celebrate the Opening of MAX Green Line!

On September 12, join us to celebrate the opening of MAX Green Line!

Join the celebration with live music, vendors from the Lents International Farmers Market, children's activities, information booths, and visit local food establishments and area businesses. For more information, visit www.pdc.us/ramonastreetfair

Market Vendors

Evolving Gardens

Soap Me!

Zenger Farms

Music
Casual Music

Pride of Portland Chorus

Fulton Fontaine

Gerardo Calderon

East Pete

Local Food

Ararat Bakery

El Pato Feliz

Le Sorelle

New Copper Penny

Riley's Pub

Hope to see you there!

Tax Credits Help Make Homeownership Happen!

First-time homebuyers around the country are taking advantage of the $8,000 homebuyer tax credit as part of the American Recovery and Reinvestment Act of 2009. Time is running out on this program, so act now! In order to use this great homebuyer program, you need to close on your home loan by November 30, 2009.

The Portland Development Commission’s Mortgage Credit Certificate (MCC) Program also works to provide first-time homebuyers with a federal tax credit. This program is a dollar-for-dollar tax credit on the amount of income tax you owe instead of a deduction to your taxable income. Better yet, this program is good for the life of your home loan!

You do not have to pay back the MCC if you remain in your residence for the life of your mortgage loan. The MCC’s credit totals 20% of the interest paid on your mortgage annually, so an MCC awarded to a $250,000 mortgage could save you about $3,000, or $250 each month.

Become a homeowner this year, and next year you could save more or get more money back at tax time! For more information on how the Mortgage Credit Certificate can work for you, visit www.pdc.us/mcc or give us a call at 503.823.3400.

PDC Offers Free Homebuyer Workshops!

Interested in learning more about the Portland Development Commission's homebuyer programs? We have first mortgages, down payment assistance, mortgage credit programs, and more!

Our next workshop is next Thursday, September 10 here at PDC (222 NW 5th Avenue).

To learn more about our workshop, and to sign up to attend, please CLICK HERE.

Hope to see you there!