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Archive for the ‘Tips When Buying a Home’ Category
A Few Articles Re: interest rates rising & FHA tightening on loan standards
Thursday, January 21st, 2010
Clients of ours forwarded the linked articles below to us for consideration; I’m passing along to you. I do expect FHA will continue to tighten and I do think interest rates will go up. For those of you thinking you want to wait for home prices to reduce, keep in mind that an increased interest rate may eat up any sale price savings and that if you are borderline qualified you may not be eligible for a loan a month from now. If you are a first time home buyer I do not recommend writing on short sales unless they already have a pre-approved amount acceptable to what you would want to pay. Chances are slim you would close in time for the credit and they waste alot of valuable shopping time. Here’s those articles:
Home Warranty – Should I have one for my new home purchase?
Saturday, January 2nd, 2010
Should I get a home warranty? Depends…. alot of agents would say no, however I am a strong believer under the right circumstances and would frequently say ”yes”. New construction no (if it’s a builder who will be staying in business long enough, the home is warrantied for 1 year already), a home passing it’s home inspection with flying colors maybe not, but a home that has been rented, is over 15 years old and a bit rough, or a house that has been purchased from a bank or as a short sale, yes.
Look at the price on that SHORT SALE! It’s too good to be true!
Sunday, December 13th, 2009
Yep! It probably is. Until an offer is received, the short sale process between the homeowner and the lender(s) cannot begin. In other words, the seller & listing agent need an offer, any offer, before they can turn in the initial packet required to get the process started. You are likely being used; they just want your offer.
Link For Answers Pertaining to the Home Buyer Tax Credit….!
Monday, November 9th, 2009
This is the best place to go if you have questions regarding the tax credit extension. There are alot of questions in particular regarding the repeat home buyer… get some answers here! -Kristie McD.
Home Buyer Tax Credit – Officially Extended!
Friday, November 6th, 2009President Obama signed the $24 Billion stimulus plan
into law today which included the home buyer tax credit extension. Notice I did not say “First time home buyer”? That’s because it’s not just an extension of the existing credit, it’s also an expansion to include move up or repeat home buyers as well.
First time home buyers; time is running out to get your tax credit!
Saturday, September 12th, 2009
So I was discussing with a client today when she should have a home picked out, negotiated and in escrow to ensure she gets the tax credit when I realized, we’re less than 3 weeks away from what I consider a safe bet, September 30th.
New to Our Blog: Tu Phan with Premier Mortgage Group
Saturday, September 12th, 2009Tu Phan is a lender we work with frequently, he’s the President of 
Premier Mortgage Group here in the Portland area and has offered to write a blog entry for us here and there about whats going on in lending, here is his very first entry!
July 2009 RMLS Market Action Report & Commentary
Monday, August 17th, 2009The latest RMLS Market Action Report is out and posted on our site along with our commentary
/ summation of the numbers and comments on what we’re seeing in the market and how that is represented in the numbers. Additionally we blogged a while back about which homes are selling and why, a blurb about that in this month’s commentary as well as a link to an eye opening PDF; head over and take a look!
Have your own lender? A few questions to ask…
Friday, August 7th, 2009I want to first mention that there are a lot of really amazing and good lenders out there, but like any profession 
(Realtors included), there are some that give the bunch a bad name; avoid ending up with a problematic lender by asking them some basic questions. (more…)
June 2009 RMLS Market Action Report & Commentary
Friday, July 24th, 2009Boy have we been busy…The last RMLS market action report came out about a week ago and
I’m just now able to sit down and get my commentary and this blog entry in and the latest June 2009 RMLS Market Action Report shows why; the market is moving folks! We’re seeing lots of activity, lots of buyers, FHA in just about every transaction these days, seller paid closing costs in most as well and of course that first time home buyer tax credit. Things are a rollin’ however we are concerned that come the end of November we could see things come to a screeching halt. Check out the RMLS market action report and our commentary on it to find out why.
Investors & First Time Home Buyers Buying Homes with Converted Garage… BEWARE!
Tuesday, June 30th, 2009
Many of the homes in SE Portland have converted garages…. if you are buying a home with a converted garage request the seller provide or obtain a permit, if you are selling a home with a converted garage be prepared to have to get one.
Appraisal came in low? You’re not alone…
Wednesday, June 24th, 2009Back in the day of skyrocketing home sale prices between 2001 – 2006 the appraisal of a home you’re buying
(or selling) was of very little concern to buyers, Realtors, lenders etc because it almost seemed as though appraisers were asking the lenders “what do you need it to appraise for?” before doing the appraisal…no accusations here, but there was some funny business going on and it was one of many factors that encouraged the housing bubble to burst. Since then appraisers have completely reversed course and potentially to the detriment of the market.