In this market bank owned and short sale transactions are extremely common and when buying a bank owned home your offer is likely to be responded to with a contract, sometimes 2 pages, sometimes 10 pages or more. These contracts have been fairly harmless in most cases, specifically restating things that are already in the standard Oregon Real Estate Forms Earnest Money Agreement usually adding verbiage, conditions etc that are within reason.
Recently, Fannie Mae announced that they are working on a plan that will allow renters to remain in their rental home even after the home forecloses. It sounds like (more…)
I watch the Happy Valley & Clackamas market very carefully, with Happy Valley imersed in short sales I think it’s a good sampling of what’s to come for the other areas of Portland. Here’s what I see for 2009. (more…)
Our newest listing is a high end contemporary home in Lake Oswego designed by Bob Thompson in contemporary/modern fashion! This home is incredible, walls of windows, gourmet kitchen, guest suite with it’s own kitchen, lap pool & jacuzzi, theater room, customizable lighting & sound systems, all high end materials through out (granite, marble, slate, hardwoods sculpted fireplaces and more). And to top it off, panoramic views of Mt Hood, Mt Rainer, Mt Adams, My St Helens and city from most rooms! Looking for the entertainers delight in a luxury home estate in Lake Oswego, look no further give us a call! (more…)
An Underwater Loan is a loan in which the homeowner owes more than what the home is worth, meaning that if they were to sell their home at market value they would need to bring a check to the closing table (or sell short). Oregon ranks in the top 10 for the fewest amount of underwater loans (thank the gods) but guess which states are at the opposite end of the spectrum? Check out this link to CNN Money and get the full list.
The climate of short sales in real estate is changing all the time. You can usually count on a short sale home to be listed at a pretty great price, however many of our clients are asking “can I get an even better deal”? My answer (more…)
Both my husband and I are realtors specializing in the Happy Valley area… short sales and bank owned is a way of life on the grand “Hill of Views”. It’s no surprise the Happy Valley has established a reputation as Hill of McMansions, Short Sales and 1/2 built homes. They over developed, the economy turned, and now there are an abundance of great deals for those who are able to invest.
Good News? GREAT deals to be had. Anything around (more…)
