Friday, March 20, 2009
Portland Among the Lowest in Foreclosures
Check us out. Portland continues to be among the best in the real estate market -- here's how we measure up in foreclosures.
Friday, March 13, 2009
Forbes Names Portland 4th-Best Housing Market
We know we love it here....now the secret may be out! Check out the recent article in the Oregonian...
Forbes names Portland 4th-best housing market
Sunday, March 08, 2009
Portland was named the fourth-best housing market in the country by Forbes magazine, based in part on the latest S&P Case-Schiller 20-city home price index, published monthly.
Case-Schiller examines monthly and year-over-year declines in home prices, price-drop momentum and repeat home sales, among other factors. It does not include new construction or foreclosures.
The five best housing markets, according to Forbes and in order, are New York; Washington, D.C.; Charlotte, N.C.; Portland; and San Diego. The five worst housing markets are Las Vegas, Phoenix, Detroit, Minneapolis and San Francisco.
FHA increases loan limits: As part of the federal recovery package, the Federal Housing Administration temporarily increased loan limits to make more families eligible for FHA-insured mortgages.
In most Oregon counties, the new loan limit is $271,050. In Portland, Vancouver and Clackamas, Columbia, Multnomah, Washington and Yamhill counties, the new limit is $418,750.
For more information, visit www.hud.gov.
HGTV seeks stars for show: HGTV's series "My First Place" is scouting Portland and surrounding areas to film first-time homebuyers as they go through the purchase process.
The show is looking for those who are just starting the home-buying process for their first home, have an interesting story, are willing to share personal and financial struggles with viewers, are looking to purchase within a 90-minute radius of Portland, and are hoping to close before fall 2009.
To be considered for the show, contact associate producer Sara Adams at sadams@highnoonentertainment.com.
Funding will help homeless: Federal funds recently received by the Rural Oregon Continuum of Care will help keep housing assistance and support services in place for homeless individuals and families in 23 Oregon counties.
Counties slated to receive portions of the $1.5 million allocation include Columbia and Yamhill counties. For a full list of awards, visit www.hud.gov.
The funding will enable agencies to move forward with strategies identified in Oregon's 10-Year Plan to End Homelessness, "A Home for Hope," posted at www.ehac.oregon.gov.
Forbes names Portland 4th-best housing market
Sunday, March 08, 2009
Portland was named the fourth-best housing market in the country by Forbes magazine, based in part on the latest S&P Case-Schiller 20-city home price index, published monthly.
Case-Schiller examines monthly and year-over-year declines in home prices, price-drop momentum and repeat home sales, among other factors. It does not include new construction or foreclosures.
The five best housing markets, according to Forbes and in order, are New York; Washington, D.C.; Charlotte, N.C.; Portland; and San Diego. The five worst housing markets are Las Vegas, Phoenix, Detroit, Minneapolis and San Francisco.
FHA increases loan limits: As part of the federal recovery package, the Federal Housing Administration temporarily increased loan limits to make more families eligible for FHA-insured mortgages.
In most Oregon counties, the new loan limit is $271,050. In Portland, Vancouver and Clackamas, Columbia, Multnomah, Washington and Yamhill counties, the new limit is $418,750.
For more information, visit www.hud.gov.
HGTV seeks stars for show: HGTV's series "My First Place" is scouting Portland and surrounding areas to film first-time homebuyers as they go through the purchase process.
The show is looking for those who are just starting the home-buying process for their first home, have an interesting story, are willing to share personal and financial struggles with viewers, are looking to purchase within a 90-minute radius of Portland, and are hoping to close before fall 2009.
To be considered for the show, contact associate producer Sara Adams at sadams@highnoonentertainment.com.
Funding will help homeless: Federal funds recently received by the Rural Oregon Continuum of Care will help keep housing assistance and support services in place for homeless individuals and families in 23 Oregon counties.
Counties slated to receive portions of the $1.5 million allocation include Columbia and Yamhill counties. For a full list of awards, visit www.hud.gov.
The funding will enable agencies to move forward with strategies identified in Oregon's 10-Year Plan to End Homelessness, "A Home for Hope," posted at www.ehac.oregon.gov.
Saturday, March 7, 2009
Economic Market Pulse: Real Estate Data
According to chief economist Lawrence Yun, here's a recent look at the latest existing-home sales and pending home sales data from National Association of Realtors.
Sales Spark Up
Both existing-home sales and NAR’s forward-looking Pending Home Sales Index showed marked gains. EHS rose to 4.74 million units, up 6.5 percent from 4.45 million in November. Pending sales rose 6.3 percent, to a reading of 87.7 from 82.5 in November.
"Buyers appear to be responding to the drops in home prices and mortgage interest rates," says NAR Chief Economist Lawrence Yun.
December 2008 Existing-Home Sales: 4.74 Million (Seasonally adjusted annual rate, which is the actual rate of sales for the month, multiplied by 12 and adjusted for seasonal sales differences.)
December 2008 Pending Home Sales Index: 87.7 (The Pending Home Sales Index measures housing contract activity. An index of 100 is equal to the level of activity during 2001, the benchmark year.)
Market Optimism Gains
Practitioners’ expectations for sales activity over the next six months saw a rebound in January as low home prices helped drive up sales, particularly in the West. Expectations for buyer traffic and overall market activity increased, even as confidence remains low that more sellers will emerge.
For the rest of the story and visual graphs that put it into perspective, go to:
http://www.realtor.org/rmonews_and_commentary/economy/0903_marketpulse?id=573caa004cfffa0cabadeb8e2c9a76da&wcm_page.resetall=true&cache=none&contentcache=none&connectorcache=none&srv=page
Sales Spark Up
Both existing-home sales and NAR’s forward-looking Pending Home Sales Index showed marked gains. EHS rose to 4.74 million units, up 6.5 percent from 4.45 million in November. Pending sales rose 6.3 percent, to a reading of 87.7 from 82.5 in November.
"Buyers appear to be responding to the drops in home prices and mortgage interest rates," says NAR Chief Economist Lawrence Yun.
December 2008 Existing-Home Sales: 4.74 Million (Seasonally adjusted annual rate, which is the actual rate of sales for the month, multiplied by 12 and adjusted for seasonal sales differences.)
December 2008 Pending Home Sales Index: 87.7 (The Pending Home Sales Index measures housing contract activity. An index of 100 is equal to the level of activity during 2001, the benchmark year.)
Market Optimism Gains
Practitioners’ expectations for sales activity over the next six months saw a rebound in January as low home prices helped drive up sales, particularly in the West. Expectations for buyer traffic and overall market activity increased, even as confidence remains low that more sellers will emerge.
For the rest of the story and visual graphs that put it into perspective, go to:
http://www.realtor.org/rmonews_and_commentary/economy/0903_marketpulse?id=573caa004cfffa0cabadeb8e2c9a76da&wcm_page.resetall=true&cache=none&contentcache=none&connectorcache=none&srv=page
Friday, March 6, 2009
Just Listed!
This little charmer is in amazing condition. Ideal for first timers or investors, this home shines! Check out the jetted tub and new kitchen cabinets. Plus, the brand new landscaping makes it really stand out.
Call us today to see inside!
Call today, start investing for tomorrow.
Thursday, March 5, 2009
Rent Vs Own
Curious if now is a good time to jump into homeownership versus staying put in that rental of yours?
The cost of owning a home vs. renting is now below its 18-year average in many major U.S. markets.
For an excellent “Rent vs Buy” calculator, go to:
http://www.nytimes.com/2007/04/10/business/2007_BUYRENT_GRAPHIC.html#
The cost of owning a home vs. renting is now below its 18-year average in many major U.S. markets.
For an excellent “Rent vs Buy” calculator, go to:
http://www.nytimes.com/2007/04/10/business/2007_BUYRENT_GRAPHIC.html#
Mortgage Rates Nearing Record Lows
According to Inman News:
Loan applications up in latest survey
The average rate on 30-year fixed-rate mortgages this week continued to fall to near the 5 percent mark, close to the record low seen a month ago, Freddie Mac said.
In a separate report, the Mortgage Bankers Association said mortgage applications jumped 45.7 percent for the week ending Feb. 13 compared to the week before. The increase was largely driven by a 64.3 percent surge in applications for re-financings, but applications for purchase loans were also up a seasonally adjusted 9.1 percent.
Freddie Mac's weekly Primary Mortgage Market Survey showed the 30-year fixed-rate mortgage falling to 5.04 percent with an average of 0.7 point for the week ending Feb. 19, down from 5.16 percent the previous week and 6 percent a year ago.
Since Freddie Mac began conducting the survey in 1971, the 30-year fixed-rate mortgage has never dipped below the 4.96 percent rate seen in mid-January.
(FRIDAY, FEBRUARY 20, 2009)
Loan applications up in latest survey
The average rate on 30-year fixed-rate mortgages this week continued to fall to near the 5 percent mark, close to the record low seen a month ago, Freddie Mac said.
In a separate report, the Mortgage Bankers Association said mortgage applications jumped 45.7 percent for the week ending Feb. 13 compared to the week before. The increase was largely driven by a 64.3 percent surge in applications for re-financings, but applications for purchase loans were also up a seasonally adjusted 9.1 percent.
Freddie Mac's weekly Primary Mortgage Market Survey showed the 30-year fixed-rate mortgage falling to 5.04 percent with an average of 0.7 point for the week ending Feb. 19, down from 5.16 percent the previous week and 6 percent a year ago.
Since Freddie Mac began conducting the survey in 1971, the 30-year fixed-rate mortgage has never dipped below the 4.96 percent rate seen in mid-January.
(FRIDAY, FEBRUARY 20, 2009)
Monday, March 2, 2009
FHA, the Big Lender
Did You Know That FHA Loans Represent a Huge (nearly 80% and growing) Percentage of Today's Loans?
Here's a little history on FHA and what you can expect from an FHA loan today....
FHA loans have been helping people become homeowners since 1934. How do they do it? The Federal Housing Administration (FHA) – which is part of HUD – insures the loan, so your lender can offer you a better deal.
* Low down payments
* Low closing costs
* Easy credit qualifying
Buying your first home?
FHA might be just what you need. Your down payment can be as low as 3.5% of the purchase price, and most of your closing costs and fees can be included in the loan. Available on 1-4 unit properties (note: anything that is 5 units or larger requires commercial lending, not residential).
Want a fixer-upper?
FHA has a loan that allows you to buy a home, fix it up, and include all the costs in one loan. Or, if you own a home that you want to re-model or repair, you can refinance what you owe and add the cost of repairs - all in one loan.
Financial help for seniors
Are you 62 or older? Do you live in your home? Do you own it outright or have a low loan balance? If you can answer "yes" to all of these questions, then the FHA Reverse Mortgage might be right for you. It lets you convert a portion of your equity into cash.
Want to make your home more energy efficient?
You can include the costs of energy improvements into an FHA Energy-Efficient Mortgage.
How about manufactured housing and mobile homes?
Yes, FHA has financing for mobile homes and factory-built housing. FHA has two loan products – one for those who own the land that the home is on and another for mobile homes that are - or will be - located in mobile home parks.
Want more details?
Contact us today and we will put you in touch with a stellar lender who does FHA loans every day. And, as always, it's important to consult a loan officer or tax advisor for answers to your specific questions.
Plus, more information is available at: http://www.hud.gov
Contact us today, start investing for tomorrow.
Here's a little history on FHA and what you can expect from an FHA loan today....
FHA loans have been helping people become homeowners since 1934. How do they do it? The Federal Housing Administration (FHA) – which is part of HUD – insures the loan, so your lender can offer you a better deal.
* Low down payments
* Low closing costs
* Easy credit qualifying
Buying your first home?
FHA might be just what you need. Your down payment can be as low as 3.5% of the purchase price, and most of your closing costs and fees can be included in the loan. Available on 1-4 unit properties (note: anything that is 5 units or larger requires commercial lending, not residential).
Want a fixer-upper?
FHA has a loan that allows you to buy a home, fix it up, and include all the costs in one loan. Or, if you own a home that you want to re-model or repair, you can refinance what you owe and add the cost of repairs - all in one loan.
Financial help for seniors
Are you 62 or older? Do you live in your home? Do you own it outright or have a low loan balance? If you can answer "yes" to all of these questions, then the FHA Reverse Mortgage might be right for you. It lets you convert a portion of your equity into cash.
Want to make your home more energy efficient?
You can include the costs of energy improvements into an FHA Energy-Efficient Mortgage.
How about manufactured housing and mobile homes?
Yes, FHA has financing for mobile homes and factory-built housing. FHA has two loan products – one for those who own the land that the home is on and another for mobile homes that are - or will be - located in mobile home parks.
Want more details?
Contact us today and we will put you in touch with a stellar lender who does FHA loans every day. And, as always, it's important to consult a loan officer or tax advisor for answers to your specific questions.
Plus, more information is available at: http://www.hud.gov
Contact us today, start investing for tomorrow.
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