“Bumping along the bottom” is the latest catch-phrase I’ve heard to describe our current market conditions, but I’m feeling a bit more (cautiously) optimistic for summer ‘09. In the last month I’ve had a number of buyers enter the market and write offers after being on the fence for a couple of years. [...]

A special “Thank You!” to Julie Sandlin of First American Title for sending this along this morning.
 
Frequently Asked Questions:
First Time Home Buyer Tax Credit of $8,000
 
1. Who is eligible to claim the tax credit?
First-time home buyers purchasing any kind of home-new or resale-are eligible for the tax credit. To qualify for the tax credit, a [...]

 Just thought I’d pass along the link to the President’s plan to helping homeowners stay in their home.
FinancialStability.gov
There are lots of fact sheets, press releases, and self-assessment tools.
Personally, I think it’s great that our current administration is making efforts to not only keep people in their homes but to make it more manageable for families [...]

This article was authored by Michelle Berry, real estate broker, and Sara Blanchard, loan officer. All information contained herein should be considered accurate as of the date of this writing, but should be not be considered a guarantee of financing. Any opinions expressed in the below article are the opinions of the writers and not their [...]

Fannie Tries Short Sales Over Foreclosures
Fannie Mae has launched pilot projects in Phoenix and Orlando intended to reduce foreclosures by pre-approving short sales, agreeing on a price and the loss it will take prior to a deal even being made. It is hoped the program will improve the popularity of short sales among real estate [...]

Nearly a year ago I got a call from a potential client.  He was beside himself with excitement as he talked about the REDC auction of Buena Vista Homes.  I was immediately struck by his circus-like fascination.  It’s new.  It’s exciting.  They have jazzy, high-intensity commercials and newspaper ads.  But I asked him to let [...]

Thank you to Wendi Eiland for sending in this great information.  Wendi is an insurance agent in Beaverton, you can find out more about Wendi at www.wendieiland.com .

COVER YOURSELF!
Your homeowner’s insurance may be inadequate.
 
We all pay those premiums month after month and rarely actually need our insurance.  And when we do have a claim, many [...]

Thank you to Laurie SantaMaria, Stewart Title, for sending this tidbit in an email this morning.

Homesale exclusion rules tightened

Most homeowners are aware of the homesale exclusion, a provision of the
tax laws which provides that homeowners who sell their principal residence
typically don’t need to pay taxes on as much as $500,000 of their gain if
they meet certain conditions. [...]

An article by the Oregonian today states that Parmount Equity Mortgage is coming under scrutiny by both the states of Washington & Oregon.  You know who they are, they have the radio commericals, “Hello, this is Hayes Barnard….”  The allegations are that Paramount Equity was not providing proper disclosure, not lowering rates after borrowers paid discount [...]

Our market here in Portland has seen a significant increase in the number of “short sale” listings on the market.  What exactly is a “short sale”?  A short sale, very simply put, is when a homeowner is selling their home for less than they owe on the mortgage(s).  It is different from a foreclosure, or REO home [...]