Just Sold

I am excited to share that I have closed my second short sale! I am 2 for 2! They can be a long process and frustrating at times. I believe when working on a short sale it is SO important to have good communication with the negotiator. Throughout the whole process of both short sales, I had great email and phone contact with the negotiator which helped create a successful sale.

I took the listing in October. We recieved an offer mid May and closed July 22nd. The house was listed in Gladstone. Its a 3 bedroom home with 2 bathrooms. Great sized yard with a playstructure. The kitchen was great in this house and gave it a tuscan feel. I know that the buyers got a great deal and will love making this house their home!

Own A Piece Of Disney!

Walt Disneys former mansion is on the market in Los Angeles, Los Feliz, to be exact! It is currently listed for $3.65 million. It features 4 bedrooms, 5 bathrooms, and 6388 square feet. It was built in 1932. It would be fun to own a bit of Disney history!

Pre Qualify or Pre Approval?

I get asked so frequently, "why should I get Pre approved or Pre qualified before looking at homes?" It is very important to do this before looking at homes! It's important for many reasons too! You want to make sure your qualified to make a purchase, to ensure your looking in the right price point, and also makes it so you are able to write an offer quickly! Nothing is worse then finding the PERFECT house and then taking the time to get qualified and before you know it, the house has been purchased by somebody else!

By Pre Qualifying your not only made aware of the general amount of money you will be able to borrow, you will also learn about your current financial situation as it relates to purchasing a home. You will also be given tips on how to improve or change your financial status, if needed, to better meet your home purchasing goals. Also included is an education about loan programs that you are qualified for and that will help meet those goals.

Pre approval is becoming conditionally approved for a specific home loan, prior to finding and making an offer. The dollar amount specified for approval is based on your personal level of comfort.

Documents that your loan officer will need at your first appointment include
-Income: One month of paystubs and 2 years of W2 forms and federal tax returns.

-Assets: Previous 2 months worth of savings, checking, and retirement account savings.

-Debits: Complete a list of credit debts displaying: creditors balance owed and monthly payments.

-Other: Divorce decrees, bankruptcy papers, and rental agreements.

Depending on your own personal situations the amount of documentation may be different. If your looking for a great loan officer to work with, call me today. I will help point you in the direction to make purchasing a home reality! Heather 503 975 3483

Price Reduced!

This is a great home located at 7347 Se Lamphier St in Milwaukie Or. This home was remodeled down to the studs in 2005. The home still has the original oak floors throughout. The kitchen features maple cabinets, granite counters, stainless steel appliances, and tile floors. The backyard is large with a great deck for entertaining. Please call with questions!

7347 Se Lamphier St
Milwaukie OR

Price $199,000

Good Neighbor Next Door Program

I took a class about HUD properties the other day and learned about this amazing program. This program is offered for teachers, police officers, and firefighters. This program is through HUD and it is called the Good Neighbor Next Door Program. GNND is a program run by HUD which offers eligible participants 50% off homes in community revitalization areas. The only commitment that is made, beyond signing for the loan documents, is living in the property for 36 months. The program is only eligible in the revitalization areas. Participants must qualify for the full amount before the 50% off and bidding on the properties is done by on online bidding process. For more information, click GNND

Make Your Home FHA Friendly!

Want to make your home appeal to all buyers? Knowing the basics of the FHA loan rules will help open up to buyers of all types. The Federal Housing Administration insures about 30% of todays mortgages. By passing the FHA rules, your opening the door to a 30% increase in potential buyers! FHA is a great option for buyers, especially first time home buyers, it allows for as little as 3.5% for a down payment.

Some things to keep in mind for the FHA buyer when selling your home.

* Know the FHA loan limits in your area. In Oregon, the FHA loan limites is $418,000

*Appraisals- This can be the tricky part of the FHA deal. An appraisal is different from a home inspection. The home inspection is optional. The home inspection is a general inspection looking at the shape the home is at that given time. They look to make sure the systems are in good working order and they will point out areas that may be a problem or a major problem area. The appraisal is a lender requirement. The appraiser will come out and look at condition and the comparable properties. They do this to ensure value in the property and make sure that health and safety issues are resolved prior to transfer of ownership. The appraiser will be sent by the lender to look at the property. The appraiser can condition repairs to be completed. The repairs that the appraiser conditions, have to be fixed prior to the close of a property. So, if you place your house on the market, its a good idea to do a pre listing inspection. Catch a potential problem before it arises. If an appraiser conditions repairs, they will require that upon the completion of the repairs a reinspect from the appraiser to be done to verify they were done to satisfaction.

*Closing Costs- Most buyers request some help with closing costs. FHA allows up to 6% (sales price) towards closing costs from the seller.

FHA has a whole bunch of rules relating to condos as well.  In a tight market, its best to make sure that we can expose our property to as many people as possible. Check with your real estate agent to get suggestions as to how to make your home available to buyers of all types.

New Listing

Property Address
21618 Ella Ln
Fairview

Beautiful new listing in Fairview offers a custom layout with great amenities! This home is ADA accessible, wide doors and hallways!  Main Level Living. 3 Bedrooms and 3 bath with mudroom and laundry room with built ins. Bamboo floors throughout. Gourmet kitchen with energy star appliances, large pantry, and granite counter tops. Great backyard for entertaining! Call me today for a private tour!

New Listing!

7347 SE Lamphier St

Milwaukie OR

Great starter home or investment property. Complete remodel down to the studs in 2005. Original oak floors! Large kitchen with maple cabinets, granite counters, stainless steel appliances, and tile floors. Large yard with covered deck, shed, and raised beds for gardening. Great access to downtown and all conveniences!

Timbers

I am really looking forward to MLS soccer in Portland! The first MLS game is March 19th and they are playing Colorado it is an away game. Their first home game is April 14th at PGE Park. I will certainly be in attendance! The Timbers have 34 games both home and away, against 17 different teams. They will play at home at the newly renovated PGE Park.  I am very excited about this and hope that everybody will be out there with me on the 14th supporting our team! GO TIMBERS!

6 Steps to Take Before You Buy A Home

I often get the question from buyers, "where do I start?'' The home buying process can be rather complex but if you do you homework right, then it will leave you rather confident through the entire process.

*Start Saving Money-Seems hard these days with rising gas prices and our grocery bills going through the roof. However, down payment requirements are pretty low! FHA requires 3.5% and their are some special loan programs for buying bank owned homes where you can put as little as 3% down. The only options for 100% financing are VA and USDA. With a down payment of less then 20%, you are required to have mortgage insurance, and that number varies and will influence your monthly payment. Some loan programs require you to have reserve funds, so check with your loan officer to make sure you have the necessary funds to progress in the home buying process.

*Get a Credit Report- A credit report shows debts (good&bad), past late payments, payment history, and credit score. Most loan programs require a 640 credit score to qualify for a loan. Your loan officer will be able to walk you through your report and give ideas on how to improve the score if it is needed.

*Start the Pre Approval Process-Obtain a loan officer. This will tell you how much you can afford. They will require W2s, pay stubs, bank statements, work history, and rental history that is just to name a few items. You will need a pre approval to submit an offer and most sellers will not consider an offer if it is not accompanied with a pre approval.

*Ask About Additional Costs- In addition to the down payment requirement, the buyer will be responsible for other costs. A buyer has a right to a home inspection, cost between $250-$500. Their is also an appraisal fee and other charges associated with the loan and title, which are referred to as closing costs.

*Compile A Must Have List- This is the fun part but keep it realistic! Make sure you know the difference between your must have list and it would be nice to have list. Remember things can change over time. If your not loving the tile counter tops and prefer granite that can be changed!

*Identify Neighborhoods- Look at neighborhoods that fit your priority list. Make sure you evaluate schools, nearby conveniences, and commute time. These priorities can make or break a neighborhood or help you to decide between homes.

It is very important to know what your in for when jumping into the home buying process. Try and be prepared as best as you can. Its a fun and exciting process!

Why Get Pre Approved??

I just answered a question from potential buyer, and this question keeps coming up! Why do real estate agents want me to get pre approved before I start viewing property? To me this is important and I will explain why. When your out viewing property without any idea what you can afford, their are no boundaries and limits. Right? May sound fun to go look at homes in a huge range of prices. The problem is finding THE DREAM HOUSE that you can't financially qualify for. Then the dreams are shattered! It works in reverse as well! If you feel like you can only afford a certain price range and you go looking at homes that you think you qualify for, you may become disappointed. This may cause you to become discouraged and give up. Lets say that you started the house hunt before the pre approval process. You find your dream home, before making an offer you need a pre approval! Now you have to wait a few days to make the offer and risk losing the house to somebody else. Most sellers won't look at offers without pre approvals, especially bank owned homes.

By getting pre approved, eliminates all  questions. Also, you have an idea of your monthly financial obligation! It just makes the process easier! If you need help finding somebody to help you get this process started, feel free to ask!

RMLS Lockbox Activity

This is the RMLS locbox activity for the week of February 7th through 13th. Rmls gets their numbers based on the previous week. This counts the number of time a lockbox was opened. It is good to see that the activity is up, that means that their are buyers out there!

New Carbon Monoxide Law

House Bill 3450, also called the Lofgren and Zander Memorial Act, was passed by the 2009 Oregon Legislature, requiring the installation of carbon monoxide alarms in residential homes.  The purpose of this new law, is to reduce the number of deaths each year related to Carbon Monoxide.

As of April 1, 2011, this law goes into action, no joke! CO detectors are require in all new construction or remodeling that requires a permit. This also include existing homes that go on the market or close after the 1st.

A detector is required on each level of the house. It is preferred that they are in all bedrooms but at a minimum they should be within 15 feet of sleeping areas. These detectors can be with the hardwired or plug in.

Carbon Monoxide is a colorless, odorless, and tasteless gas. CO binds more easily to redblood cells displacing oxygen. This results to lack of oxygen to the brain and other vital organs, resulting in tissue damage or death.

Sources of CO: Heaters, Furnace, Fireplaces, Woodstoves, Appliances, Portable Generators, Cars, and Lawn Mowers. That is just naming a few!

Make sure you have working carbon monoxide detectors in you home, not only because its the law, its a simple way to stay safe. For more information Click Here