Posted on: June 28, 2007
Many first time buyers are concerned with saving enough money to get into a home. In most instances, the down payment is not the problem. Many lenders are willing to make loans for the full purchase price (referred to as 100% financing) if a buyer’s credit history is established and clean. With a high credit score, the only significant obstacle can be the closing costs. Closing costs can be paid by the seller as a concession to the sale. In today’s market, most sellers are willing to participate in order to generate a sale. Even in a stronger market, closing costs can be added to the purchase price and effectively “financed” by the buyers. The appraisal of the property must reflect the price being paid, but most transactions close.
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Posted on: June 27, 2007
When prospective buyers decide to pursue the purchase of a house, they are expected to pledge something of value to demonstrate that they are “in earnest.” Although anything of value can be pledged (jewelry, automobiles, a goat once!), the traditional means are via a check or promissory note. Valuable consideration is the glue that holds transactions together. In fact, years ago the purchase agreement was referenced as the “Receipt for Earnest Money and Agreement to Purchase.” As you can see, the emphasis was on the receipt of the earnest money. The terms of the agreement were almost an afterthought.
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Posted on: June 27, 2007
Today the federal Open Market Committee begins its two-day summit to decide how it will set rates. Analysts interviewed by BBC expect rates to remain constant despite concerns about inflation.
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Posted on: June 26, 2007
Construction of new homes in May fell to a seasonally adjusted annual rate of 1.47 million units, a 2.1% drop from April and a 24.2% decline from a year ago, the Commerce Department reported June 19. The decrease matched economists’ expectations, and reflected weakness in the South and West, which offset construction gains made in the Northeast and Midwest.
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Posted on: June 26, 2007
Taking on a construction project can be overwhelming, expensive, and extremely frustrating, so it’s important that you that the necessary steps to make the project rewarding and cost effective. I am a designer who works on both residential and commercial properties. I hope these tips will help make your residential project a successful experience. In Part One of this series I offered tips on generating a list of qualified contractors. The next step is interviewing your short list of general contractors.
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Posted on: June 25, 2007
In the past month, I have been asked this question on a number of occasions. Providing a clear answer to this question can be difficult as the interplay between our economy and interest rates is very complex. Some of the most brilliant economists spend their careers analyzing these dynamics. In an attempt to provide some explanation, here is an oversimplification.
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Posted on: June 25, 2007
After being in the home inspection business for several decades, I have some helpful information on how to choose a home inspector.
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Posted on: June 24, 2007
Taking on a construction project can be overwhelming, expensive, and extremely frustrating, so it’s important that you that the necessary steps to make the project rewarding and cost effective. I am a designer who works on both residential and commercial properties. I offer hope these tips will help make your residential project a successful experience.
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Posted on: June 23, 2007
Are you considering a newly constructed home? I suggest you look into the general contractor’s background. Here are some helpful tips:
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Posted on: June 23, 2007
It is dangerous to become complacent when showing vacant properties to potential tenants. Avoid becoming a victim by using these safety tips.
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Posted on: June 22, 2007
Misunderstanding the restrictions on exchange funds can be a costly learning experience. We want you to have familiarity with IRS restrictions to help you avoid frustration and get the most out of your property exchange. While much exchange law is “gray,” there are some very rigid rules about the care and handling of exchange funds.
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Posted on: June 22, 2007
Toija J. Beutler, Esq., Sr. Vice President/NW Regional Manager of Investment Property Exchange Services, Inc. (IPX1031), shares with us ten ways exchanges fail to produce the tax savings investors desire. This list has been posted as a two-part series with points 5 through 1 explained in this blog post. Click here to read Part 1 of this post.
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Posted on: June 22, 2007
While perusing the top real estate agent blog sites, I came across a great tool for learning just how this all works. Bloodhoundblog (www.bloodhoundrealty.com) has launched a new product called Real Estate Weblogging 101.
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Posted on: June 22, 2007
Want to know what you can do to conserve water this summer? Outdoor water use accounts for almost half the water used by the American home, and thus provides the greatest single opportunity for conserving. Tips for conserving water in the home are also covered.
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Posted on: June 21, 2007
It’s starting to happen. While historically tax-deferred exchanges have not been a target for audit by the Internal Revenue Service, we are now hearing from tax professionals that more exchanges are being audited. This is particularly true for high-income Taxpayers with complicated real estate transactions. You can avoid this uncomfortable situation by knowing what the IRS auditors are being told to look for if they find an exchange on the tax return. The following is a short list of those audit points.
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Posted on: June 21, 2007
Toija J. Beutler, Esq., Sr. Vice President/NW Regional Manager of Investment Property Exchange Services, Inc. (IPX1031), shares with us ten ways exchanges fail to produce the tax savings investors desire. This list has been posted as a two-part series with points 10 through 6 explained in this blog post.
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Posted on: June 20, 2007
The kitchen is the most used room in my house so it obviously gets the most wear; I am always looking for ways to improve it. This must be true of other families because I have watched most of my buyers spend a lot of time looking around the kitchen and deciding if it works for them. A clean and organized kitchen will influence buyers to feel the home would work for them. A kitchen can make or break a home purchase for many people; it can even influence how much a buyer is willing to offer. I have compiled some articles to help you quickly and inexpensively prepare your home for showings; these tips are also a great way to enjoy your kitchen so don’t wait until you decide to sell to start these projects.
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Posted on: June 19, 2007
I had lunch with another real estate agent today, and the subject of rising foreclosure rates as an indication of market conditions came up. Yes, I have been watching the trend, and it does signal an economic slowdown; recently the rate has been climbing steadily and mostly reflects the default of risky loans that were written during the late 90’s and early millennium real estate frenzy. But not until I read the recent NY Times article about the rising foreclosure rates, did I understand the far reaching effects of foreclosure rates.
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Posted on: June 18, 2007
As gas prices reach nosebleed heights, here are some important tips that’ll help you be a money-saving, fuel-conscious driver.
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Posted on: June 18, 2007
No part of the United States is free from disaster. Here’s what you need to know about being prepared.
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Posted on: June 18, 2007
Fueled by a surge in gasoline prices, May’s Consumer Price Index increased 0.7%, its fastest pace in 20 months, the Labor Department reported June 15. However, core consumer prices, which exclude volatile food and energy costs, rose only 0.1%, slightly lower than the 0.2% analysts had predicted.
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Posted on: June 18, 2007
This property is under contract. Remember the long summer days you spent relaxing on your front porch swing after playing kick ball, baseball and tag in your big back yard? If this is the childhood you want for your children, then this 1920’s bungalo may be your next home; it is filled with character and charm, and large enough for your growing family.
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Posted on: June 14, 2007
Two free seminars will be held this Saturday June 16 at 9:30; one is at Rejuvenation in SE Portland, the other is in Lake Oswego at the Neil Kelly Westside Showroom.
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Posted on: June 14, 2007
The Oregon Legislature recently passed a measure that would give Metro and regional governments the ability to target land that is outside the UGB for future development over the next 40 to 50 years. Measure 37 was passed by the voters in 2004 to reimburse land owners that were affected by new land-use regulations.
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Posted on: June 13, 2007
Most people moving into a new apartment aren’t thinking about purchasing rental insurance. According to the Insurance Information Institute, three out of four apartment dwellers go without purchasing such coverage. But if renters stopped to think how much it would cost to replace all their possessions if destroyed by a fire or other catastrophe, the monthly expense seems much more reasonable.
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Posted on: June 13, 2007
Adult Foster Care (AFC) homes provide room and board, as well as the necessary supervision to allow the client to maintain the greatest level of independence possible within a residential setting.
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Posted on: June 12, 2007
Thinking of adding-on to your home, but you can’t decide if it is a good investment? Well, there are no absolute answers, but I can give you some average numbers in the Pacific area of the United States. While anything you do to improve your home should make you more comfortable first and foremost, most of us wonder if the investment will be well spent.
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Posted on: June 12, 2007
Most investors exchange properties through the IRS 1031 rule because they want to use the equity in a property to acquire a more desirable replacement property. Rather than selling and paying taxes (and depleting the amount of cash available for the reinvestment), the investor enters into a 1031 exchange.
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Posted on: June 11, 2007
Mt Hood has many exciting options for a family vacation or a weekend away. Head up for the day, or stay overnight to soak it all in. It’s only an hour away from Portland.
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Posted on: June 07, 2007
I just stumbled on Neighboroo.com, and what a great resource it is. This website publishes a variety of statistics for cities nationwide so you have the chance to a quick snapshot of cities before you consider a move.
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Posted on: June 07, 2007
Making a home appealing to renters and buyers doesn’t always require big bucks and tons of time. There are many small steps landlords and homeowners can take that can make a big impact.
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Posted on: June 07, 2007
Get out those fishing poles, and get ready for great family fun this weekend. Oregon and Washington offer FREE FISHING weekend throughout both states.
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Posted on: June 06, 2007
A careful screening process is the best tool for qualifying tenants. It can help you avoid losses from evictions, skip-outs, delinquencies, damages, or bad checks by uncovering an applicant’s rental history. Screening assists you in making rental decisions that are based on verifiable qualifications and not discriminatory reasons.
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Posted on: June 05, 2007
Sustainability and Green Building are becoming common terms but putting them into practice benefits everyone. If you are contemplating the remodel of your home, you may want to consider choosing sustainable materials. Most people these days consider granite counter-tops the best choice; but these are becoming passé, and they use tremendous resources in the production and distribution of this product. Not exactly a green choice.
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Posted on: June 04, 2007
A ‘short sale’ with regards to real estate occurs when the owners of home sell the home for less (after their closing costs) than what they owe on the property. If you are a seller and believe you might owe more than what you can net when you sell the home I recommend finding a Realtor that has successfully done short sales, it can save you a lot of money and your credit!
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Posted on: June 01, 2007
This is the 100th anniversary of the Portland Rose Festival. Since 1907 the Rose Festival has brought many great memories. The most memorable events in the Portland Rose Festival Celebration are the Parades. The “Junior”, “Grand Floral”, and the “Star Light” parades.
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