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Displaying blog entries 1771-1780 of 1904

Foreclosures on Mt. Hood

Thursday, October 23, 2008
by Liz Warren

Many buyers are searching for foreclosures in Government Camp, Welches, Rhododendron and Brightwood. The Mt. Hood area has relatively few foreclosures compared to other areas near the Portland metro area and Portland itself. The majority of homes that have shown up as foreclosures have been in the Timberline Rim subdivision.

Most of these foreclosed homes in Timberline Rim are under $300,000 and the majority fall in the low $200,000 range or less. When compared to subdivisions closer in such as in Sandy and the Happy Valley area, we have really not had the hard hits that many of these newer subdivisions have had. Lack of available land to develop with"new subdivisions" in the past couple of years has caused an escape from this problem.

foreclosures do bring  values down. Banks price these homes to go out the door. These foreclosure sales will be used as comparable for conventional loans. New lending rules require home sales in the past two to three months to be used as the comparables whether foreclosures or not.  They will help establish values for bank loans to buyers.This s the bad news.

The good news is that once the inventory of foreclosed homes are gone, existing home inventory gets adjusted to "market" and gets sold, values will stabilize and eventually we will be back to a more equal market for buyers and sellers.

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Tuesday Morning Inspiration

Tuesday, October 21, 2008
by Liz Warren
Monday Morning Coffee

INSPIRATION FOR TODAY:

"If you don't know where you're going,
you'll probably end up somewhere . . . else."

~ David Campbell, PhD

WHO ARE YOU?

In the book "Unstoppable" by Cynthia Kersey, a cartoon appears showing a ship loaded with unkempt, bearded galley slaves rowing their life away at full-tilt. One of them says to another, "I always wanted to be somebody, but I should have been more specific!"

Chances are good that you work 8-10 hours each day, have 6-8 hours of discretionary time, and sleep 8 hours each day. Whether or not you choose to be specific about your direction in life, it's highly likely that the sun will come up and go down every 24 hours anyway. In other words, "If you don't know where you're going, you'll probably end up somewhere . . . else."

The alternative is really so much easier. In fact, it's downright exciting to think that you can be any "somebody" you want, just by deciding who that somebody will be. Really.

Instead of just fantasizing or daydreaming about the person you'd like to be, start acting like that person. Ask yourself how that person would act, talk, and walk. Begin taking on the characteristics of that person in your daily life, and then be passionate about it.

So often, we create our own limitations but simply fail to be more specific about our direction. We're like the farmer who placed a small growing pumpkin in a mason jar, then rediscovered it at harvest time. When the farmer broke the mason jar, he had a pumpkin which had grown to the exact (limiting) shape of the jar.

We are as limitless as our imagination will allow. When we break the mold - the mason jar - in which we have contained our growth, we will finally learn to fly. In the words of Richard Bach from his book Illusions, "In order to live free and happily, you must sacrifice boredom. It is not always an easy sacrifice."

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Recession on Mt. Hood?

Tuesday, October 21, 2008
by Liz Warren

Sales for Welches, Rhododendron, Government Camp and Brightwood in September hit a total of 10 accroding to the Market Action section of the RMLS, multiple listing service. Pending sales were down 33% and our total sales hit a decline of 11.5% for the year. 

On the ground we are seeing an average sale price decline and the upper end of the market from $500,000 on up has disappeared and completely flattened. This comes from a combination of things. A massive inventory, high interest rates for jumbo loans, the credit crunch taking lots of buyers out of this market and slower economic times.

The chief economist for the National Association of Realtors, Lawrence Yun and others see a recession through at least the next three quarters. Some areas of the country have already corrected back to 2002 and 2003 pricing levels. There is no doubt about it, our area needs to make this correction too in order to reduce inventory levels.

The biggest hoop to jump through as a seller and agent is the bank appraisal. foreclosures will be used for comparables and these sale prices will quickly adjust the market downward. This is a difficult pill to swallow for many sellers who are still thinking in terms of 2004 and 2005 but reality will strike so the sooner the adjustment is made the quicker the market will equalize.

It's an incredible time to buy properties if you qualify. Rates are still very low and with the amount of inventory available it's a feast of opportunity. We are fortunate to live in one of the most desirable areas of the country with a predicted quicker recovery than most states. The increased population to Oregon alone makes this a no brainer opportunity.

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Clackamas County Chages Hours

Thursday, October 16, 2008
by Liz Warren

This is big news for buyers and sellers who are closing real estate transactions in Welches, Government Camp, Rhododendron or Brightwood. Clackamas County, as of November 1st of this year, will be closed on Fridays. Their new hours will be 7:00 AM to 6:00 PM Monday through Thursday. So, keep this in mind if you are recording documents or going to the county with questions or getting building permits.

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Classic 1927 Still Creek Cabin

Wednesday, October 15, 2008
by Liz Warren

 

One of a kind location and a one of a kind cabin. If you've ever dreamed of the perfect Mt. Hood cabin, this might be it. Original 1927 cabin with paned windows, wood floors, stone fireplace and plenty of space with great deck and steps to Still Creek on a private gated road. Ambinace plus with high ceilings, a wide open kitchen and dining area for gatherings, two private bedrooms and a bonus bunk room or play room for kids. Still Creek is one of the top ten Mt. Hood waterways. It's steps away from this cabin.

Enjoy a quick drive to premium ski areas or take a walk through the woods to hiking or mountain biking trails.

This location is very quiet and secluded compared to many. Located in the Mt. Hood National Forest on leased land.

Take a tour of this Mt. Hood Natrional Forest Cabin here

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Wednesday Morning Inspiration

Wednesday, October 15, 2008
by Liz Warren
Monday Morning Coffee

INSPIRATION FOR TODAY:

"The young do not know enough to be prudent, and therefore they attempt the impossible - and achieve it, generation after generation."

~ Pearl S. Buck

REMEMBER YOUR YOUTH!

Ever watched a healthy smiling child try to walk? For each step attempted, a dozen result in miserable failure and a bump on the head. Does the child admit defeat and stop trying? Never! The child doesn't know enough, doesn't have enough information or experience, to understand the concept of quitting. The child attempts the impossible, and succeeds.

So - what happens over the years that stops us from attempting the "impossible?" Og Mandino reminds us in "The Greatest Miracle In The World":

"You weep for all your childhood dreams that have vanished with the years. You weep for all your self-esteem that has been corrupted by failure. You weep for all your potential that has been bartered for security. You weep for all your individuality that has been trampled by the mobs. You weep for all your talent that has been wasted through misuse."

To paraphrase Og's words, we let our life's experiences rob us of the innocent optimism of our childhood. We come to know too much about life's hard knocks - making us prudent, cautious, afraid, and wary of trying. We avoid failure by not attempting.

OK - so it's too late for us to return to the innocence of the cradle. So . . . what now? We must identify the source of and overcome our fear of failure. By developing courage and faith, we can deny fear a foothold in our lives. As someone once commented, "Fear knocked at the door. Faith answered. No one was there!"

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Mt. Hood: Investor Lending to Change Parameters!

Friday, October 10, 2008
by Liz Warren

If you are considering using an investor loan to purchase properties in the Mt. Hood area of Brightwood, Welches, Rhododendron and Government Camp consider this, If your lender is selling their loan to Fannie Mae they are going to add on substantial fees to your loan after December 1st. Depending upon your downpayment, these fees could be anywhere from 3 to4% and maybe even greater. Some private mortgage insurers may stop insuring investor loans altogether.

So, if you are an investor you should find your property now and lock your rate in the next six weeks and close before December 1st to insure you don't get caught with higher fees or the inability to buy at all!

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New Restrictions on Condo Lending

Friday, October 10, 2008
by Liz Warren

If you are looking at condos in the Welches, Rhododendron, Brightwood and Government Camp areas you will need to know the new future lending requirements on Condo projects. This may affect Golden Poles, Thunderhead Lodge, Eidelweiss, Sno-Bird, Collins Lake and Grand Lodges, Fairway Estates, Clear Hills, and Shadow Hawk condo units.

Rules are coming down the pike that if investors own more than 49% of the units, in other words, if they are not owner occupied or second homes, the project may not qualify for convenetional financing.

I am not sure of trhe exact date this may happen but be advised that we may see many owner carried contract sales in the future.

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Mt. Hood Friday Inspiration

Friday, October 10, 2008
by Liz Warren
Monday Morning Coffee

INSPIRATION FOR TODAY:

"It is a simple procedure to calculate the number of seeds in an apple. But, who among us can say how many apples there are in a seed?"

~ Dr. Wayne Dyer

WANT ABUNDANCE IN YOUR LIFE?

Who among us would answer "NO" to that question? Yet abundance often seems beyond our reach. We see it in others, but do not believe it is in us. We see ourselves as the apple (limited), rather than the seed (limitless).

So, what's the first step on the road to abundance? Wayne Dyer thinks it is giving thanks - for what you already have. That might include good health, a new baby on the way, loving parents, a career you enjoy, or money in the bank. You do have a few things going for you - right?

Just as the potential of the seed in the apple is limitless, so is your ability to attract abundance. By focusing on what you already have, you begin to deny what you don't. Your attention is drawn away from the scarcity in your life - and towards the abundance that already exists in your world.

You may be thinking that when you achieve abundance, you will finally be complete. Therein lies the surprise - that you are already complete. You are never going to get it all, because you have it all already. That's right. If you are not currently thankful for the good in your life, having more of it will make no difference.

The secret to abundance then lies within you. Place your thoughts squarely on what you already have, be grateful, and it will expand beyond your wildest dreams. Believe you have nothing until you get more, and you will spiral endlessly downward in despair at how unjustly the world is treating you.

Want abundance in your life? Think about it!

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Tuesday Morning Inspiriation

Tuesday, September 30, 2008
by Liz Warren
Monday Morning Coffee

INSPIRATION FOR TODAY:

"If thou wouldst keep money, save money;
if thou wouldst reap money, sow money."

~ Thomas Fuller

HOW'S THE FAMILY PURSE?

In George Classon's classic "The Richest Man In Babylon," he urges readers to "set your purse to fattening." His other advice? Pay off your debts - live debt-free. With those two simple bits of advice, he lays out a wealth of financial advice guaranteed to keep the wolf away from the front door - forever.

He has the audacity to suggest that a part of all you earn is yours to keep. Put $100 a month into your "purse" beginning at age 20. Invest it at 10%. At age 65, you will have a purse filled to the brim with $1,048,000. How difficult is it to convince yourself to put away $100 each month?

Poverty is not our fear. It is the insecurity of being vulnerable that we fear - of not being able to meet our obligations. The "fat purse" does not pay our bills. The amount we earn over and above the part "that is ours to keep" does that. The part we keep - our "fattening purse" - is what gives us the confidence that we are okay.

By the way, according to "The Millionaire Next Door," the "haves" spend twice as much time planning their financial success as the "have nots." Forget setting aside $100 a month, the "haves" set aside up to 40% of their pre-tax income for fattening their purse. That also means they live on just 60%. The "have-nots" are hyper-credit users who do no budgeting whatsoever.

Want to set your purse to fattening? Want to give your children a heads-up on being financially independent? Pick up a copy of Suze Orman's best-seller "The 9 Steps to Financial Freedom". More importantly - put her financial roadmap to work. Don't worry - be happy!

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Displaying blog entries 1771-1780 of 1904

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