Lots and Lots of News! So much to report, so little room to report it all. The market set a blistering pace for itself in early December and sales activity has been frenetic since then. Most market analysts point to low interest rates as the catalyst, but I'll go into that in a few paragraphs. First the news....

The transformation of the old Equity Group to RE/MAX Equity Group is nearly complete - this issue of the Home File will be last in its six-year publication history. Loyal readers needn't despair, read on: I'll be making my By-line accessible from my web site, and I have plans to deliver it via e-mail subscription beginning later this spring. The postal version of the Home File is being supplanted with a color publication - look for the first issue in April.

And I've made a move. Last week I completed a long-postponed move to the Northeast Broadway office of RE/MAX Equity Group, placing myself only 5 minutes drive from my home, and much nearer to my close-in Portland metro sales area. I'll be sending each of you a formal announcement as soon as my new business cards have been printed. Business as usual - feel free to contact me on my direct line, (503) 720-0210, or e-mail me at sspence@worldstar.com. And be sure to visit my web site, www.shannonspence.com. (More about my web site elsewhere in this By-line.)

2000 in Review. The Portland metro area real estate market ended the year 2000 on a positive note. Approximately $4.90 billion in residential real estate sales occurred in 2000, up about $100 million from the previous year. A 3.1% decline in the number of closed sales was more than offset by an annual appreciation rate of 5.4% in the average sales price. For an historical perspective, market appreciation in 1999 was 4.2%; in 1998 it was 4.6%, and in 1997 - the last of the recent market boom years - we saw 8.7% appreciation.

The average sales price for a home in the Portland market is creeping steadily towards the $200,000 mark, having ended at $198,600 for the twelve months of 2000. The median sales price for 2000 was $166,000, reflecting a 3.6% increase since 1999.

I've tabulated sales price and appreciation by area for your reference. The first column is the area, the second column is the Average Sales Price (SP), and the third column is the RMLS's calculation of percentage of appreciation for the 12-month period ending 12/31/00.

AREA	SP ($)	AGE (%)
North Portland	124,500	4.6
NE Portland	169,800	5.7
SE Portland	153,900	3.6
Gresham/Troutdale	174,500	3.2
Milwaukie/Clackamas	189,200	1.2
Oregon City/Canby	188,700	2.8
Lake Oswego/West Linn	325,700	9.5
West Portland	293,300	9.3
NW Washington County	262,200	3.5
Beaverton/Aloha	182,500	3.9
Tigard/Wilsonville	211,900	1.2
Hillsboro/Forest Grove	172,600	2.7
Columbia County	149,600	-0.7
Yamhill County	158,800	3.0

The 2001 Forecast. Will the low interest rate climate we're basking in continue to fuel a strong housing market, in spite of recession fears? The Western states' energy crisis will very likely have an effect on Oregon's economy this coming year. The energy crunch and cutbacks in the technology sector have some economists worried, and Intel's recent announcement that they have indefinitely postponed their new research and development facility - rumored to bring as many as 6,600 jobs into the area - has seemingly confirmed the threat of an economic slowdown in Oregon. In my opinion, look to see strong home sales through the first half of the year, and wait 'till June to see if the Federal Reserve's interest rate cuts have begun to stimulate the economy. There's no longer much question if we'll suffer a mild downturn in the economy, but how much of a downturn and how long will it last.

www.shannonspence.com. Just click it! I've put the finishing touches on my new web site and it looks great! It's host to more than 40 pages of links and resources - from financial calculators to school reports, from an interactive RMLS link for home buyers to featured home tours for home sellers. Even if you're not in the market to buy or sell a home, the Community Information section loaded with great stuff - go see! - and I've added a direct link from my site to Google, the most powerful and fastest search engine on the Web. I'm proud as a new dad....

Have a wonderful winter, and - are you ready for this? - Join the parade of Webfeet wishing it will... start raining soon.