First time home buyer 
Buying your first home
There are currently 9 blog entries related to this category.
Looking for a new home?
Wednesday, December 7th, 2011 at 2:34pm. 63 Views, 0 Comments.
Looking for a new home? Is this your first time buying? Your sixth purchase? Do you know or remember how the process goes? Do you look for properties first? Call a Realtor? Or get a preapproval for a loan first? About how much will your closing costs be? How much are inspections and should you even get one.
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A Short Guide to Real Estate Lingo and Acronyms
Thursday, December 1st, 2011 at 4:47pm. 62 Views, 0 Comments.
Real estate ads are usually full of acronyms and terms that are unfamiliar to first-time buyers. Here's a cheat sheet to let you in on the lingo.4B/2B -- four bedrooms and two bathrooms. "Bedroom" usually means a sleeping area with a window and a closet, but the definition varies in different places. A "full bathroom" is a room with a toilet, a sink and a bathtub. A "three-quarter bathroom" has a toilet, a sink and a shower. A "half bathroom" or powder room has only a toilet and a sink.assum. fin. -- assumable financingclosing costs -- the entire package of miscellaneous expenses paid by the buyer and the seller when the real estate deal closes. These costs include the brokerage commission, mortgage-related fees, escrow or attorney's settlement charges,…
Today's Fed announcement
Wednesday, September 21st, 2011 at 6:23pm. 97 Views, 0 Comments.
With inflation under control, the Fed used its statement to reiterate its plan to leave the Fed Funds Rate within its current range, near 0.000 percent, at least until mid-2013. That's good news for debtors with revolving debt but doesn’t affect long term money like mortgages.
They also launched a market stimulus plan aimed at lowering long-term interest rates to incentivize companies to borrow—which will eventually lead to investment and job creation. They are calling it ‘The Twist’ because they are trading in short-term bonds for long-term ones. They will sell $400 billion in Treasury securities with a maturity of 3 years or less, and use its proceeds to buy the same with maturity between 6 and 30 years. Mortgage market reaction has been positive and…Market Action Report through July 2011 from RMLS
Tuesday, August 30th, 2011 at 5:51pm. 262 Views, 0 Comments.
Closed and pending sales were both up in Juy 2011 compared with July 2010. Additionally, the inventory level in July 2011 was down 3.8 months compared with the same month a year ago.
Closed sales grew 21% in July 2011 compared to July 2010. Pending sales were up 18.4%, and new listings dropped 27%
Comparing June 2011 with July 2011, closed sales decreased from 1,958 to 1709 (-12.7%). Pending sales decreased from 2,001 to 1,928 (-3.7%). New listings went down from 3,143 to 2,942 (-6.4%).
At the month's rate of sales, the 11,970 active residential listings would last about 7 months.
Average sale price for July 2011 declined 7.4% compared to July 2010. Median sale price also fell 7.6%.
Month to month, comparing June 2011 to July 2011, sale price activity rose…
Difference Between a Short Sale and Foreclosure
Friday, July 31st, 2009 at 3:53pm. 276 Views, 0 Comments.
If you are wondering what the difference is between Short Sale and Bank Owned, it is this:
A Short Sale means that the bank has to take a Short- in other words, cannot get back all the money it lent to the seller, because the house is worth less than the seller owes. There are lots of Short Sales going on right now because banks were not very careful in their lending practices and appraisals- so they lent out way more money than many houses were worth. Now they have to take a loss. Sometimes the house really was worth more, sometimes it wasn't. Just because it is a Short Sale, doesn't necessarily mean you are going to get a good deal. You have to know the market and know what the comps are to be sure. That's why having a good Realtor helping you is so…
June 2009 Portland -Metro Market Action Report
Friday, July 31st, 2009 at 3:49pm. 282 Views, 0 Comments.
Portland-Metro Market Action Report June 2009
According to the most recent RMLS Market action report, the region's median home price has leveled off this summer and hovered in June around $250,000, down 17 percent from its peak. The inventory of unsold homes -- the key measure of supply and demand -- improved more than usual in June. Thanks to an uptick from record-low sales this winter, the inventory dropped from 19 months in January to eight months in June.
One doesn’t have to be a Realtor to know that home sales are cyclical. Winter is a slower season and summer being the hottest. During that cycle, the number of homes listed typically expands steadily from January to July. In 2008, listings grew from January to June by 28 percent. In 2007, it was…
Smooth Move -7 tips to help your kids adjust to a move
Wednesday, May 27th, 2009 at 5:19pm. 361 Views, 0 Comments.
How is the Real Estate Market?
Saturday, April 18th, 2009 at 2:22am. 157 Views, 0 Comments.
As a Realtor I’m always getting the question – How is the Real Estate Market? And since the big ‘bubble” popped, I’m getting it more than ever. Is now a good time to buy? Should we wait? What should we do?
Honestly, it’s really up to you and your family to decide but here are a few points to consider: Falling Mortgage Rates. Mortgage rates are already at their lowest level in 50 years and banks are willing to lock these rates for the next 30 years! Home Prices are Down. Right now I’m seeing homes that were selling for $600K+, a year or two ago, now selling in the $400K+ range. I saw a house recently advertised in the Beaverton area that was around 3400 sqft, granite countertops, cherry cabinets, nice neighborhood etc. for around $280K. In 2005 you…
Happy Valley: A Happy Place to Live
Tuesday, April 7th, 2009 at 5:51pm. 170 Views, 3 Comments.
According to CLR Choice, a real estate information company, Happy Valley, Oregon is categorized in the lifestyle segment -“Kids and Cul-de-Sac” Colorado Springs, CO is ranked # 1 in this category. Happy Valley is a growing community as it has seen a population growth of 154% since 1990. With a total crime index of 67 (100 = National Average) it is no wonder the city is growing. On May 30th there will be a City-wide Open House. I encourage everyone to check out www.HappyValleyCityofDreams.com to get more info.
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