Wildfire Tips for Mt. Hood
Saturday, June 11, 2022
If you're looking for some good Mt. Hood Wildfire tips, this is a great site to visit and review for preparation:
Real Estate Information Archive
Blog
Pages:
Displaying blog entries 261-270 of 1881
Secluded Five Acre Mt. Hood Charmer With Barn and Pond
Wednesday, June 1, 2022
Rarely available secluded and sunny location for this five acre parcel. Four bedroom home, seasonal creek, pond, and your own forest. Tucked away in Brightwood just off Hwy 26 you'll find this contemporary home. Bonus 2400 sq. ft. barn, poultry building, and hot tub hut. It's close to all Mt. Hood activities including Sandy Ridge Biking Park, three ski areas and the Mt. Hood National Forest and BLM land close by! $995,000
Why Home Loans Today Aren’t What They Were in the Past
Wednesday, June 1, 2022
Why Home Loans Today Aren’t What They Were in the Past
In today’s housing market, many are beginning to wonder if we’re returning to the riskier lending habits and borrowing options that led to the housing crash 15 years ago. Let’s ease those concerns.
Several times a year, the Mortgage Bankers Association (MBA) releases an index titled the Mortgage Credit Availability Index (MCAI). According to their website:
“The MCAI provides the only standardized quantitative index that is solely focused on mortgage credit. The MCAI is . . . a summary measure which indicates the availability of mortgage credit at a point in time.”
Basically, the index determines how easy it is to get a mortgage. The higher the index, the more available mortgage credit becomes. Here’s a graph of the MCAI dating back to 2004, when the data first became available:
As the graph shows, the index stood at about 400 in 2004. Mortgage credit became more available as the housing market heated up, and then the index passed 850 in 2006. When the real estate market crashed, so did the MCAI as mortgage money became almost impossible to secure. Thankfully, lending standards have eased somewhat since then, but the index is still low. In April, the index was at 121, which is about one-seventh of what it was in 2006.
Why Did the Index Get out of Control During the Housing Bubble?
The main reason was the availability of loans with extremely weak lending standards. To keep up with demand in 2006, many mortgage lenders offered loans that put little emphasis on the eligibility of the borrower. Lenders were approving loans without always going through a verification process to confirm if the borrower would likely be able to repay the loan.
An example of the relaxed lending standards leading up to the housing crash is the FICO® credit score associated with a loan. What’s a FICO® score? The website myFICO explains:
“A credit score tells lenders about your creditworthiness (how likely you are to pay back a loan based on your credit history). It is calculated using the information in your credit reports. FICO® Scores are the standard for credit scores—used by 90% of top lenders.”
During the housing boom, many mortgages were written for borrowers with a FICO score under 620. While there are still some loan programs that allow for a 620 score, today’s lending standards are much tighter. Lending institutions overall are much more attentive about measuring risk when approving loans. According to the latest Household Debt and Credit Report from the New York Federal Reserve, the median credit score on all mortgage loans originated in the first quarter of 2022 was 776.
The graph below shows the billions of dollars in mortgage money given annually to borrowers with a credit score under 620.
In 2006, buyers with a score under 620 received $376 billion dollars in loans. In 2021, that number was only $80 billion, and it’s only $20 billion in the first quarter of 2022.
Bottom Line
In 2006, lending standards were much more relaxed with little evaluation done to measure a borrower’s potential to repay their loan. Today, standards are tighter, and the risk is reduced for both lenders and borrowers. These are two very different housing markets, and today is nothing like the last time.
Hackett Creek Two Bedroom Home in Rhododendron
Tuesday, May 31, 2022
You'll love this Mt. Hood getaway above Hackett Creek in Rhododendron. Perfect for full time living or vacation home on the mountain. Two bedrooms and two baths with two fireplaces! It's had a lot of recent updates including all new interior paint, new carpeting, updated counter tops, new toilets and sinks, new carport roof and more! $480.000
.jpeg)
.jpeg)
What's the Future of the Mt. Hood Real Estate Market?
Tuesday, May 31, 2022
What Does the Rest of the Year Hold for the Housing Market?
If you’re thinking of buying or selling a house, you’re at an exciting decision point. And anytime you make a big decision like that, one thing you should always consider is timing. So, what does the rest of the year hold for the housing market? Here’s what experts have to say.
The Number of Homes Available for Sale Is Likely To Grow
There are early signs housing inventory is starting to grow and experts say that should continue in the months ahead. According to Danielle Hale, Chief Economist at realtor.com:
“The gap between this year’s homes for sale and last year’s is one-fifth the size that it was at the beginning of the year. The catch up is likely to continue, . . . This growth will mean more options for shoppers than they’ve had in a while, even though inventory continues to lag pre-pandemic normal.”
- As a buyer, having more options is welcome news. Just remember, housing supply is still low, so be ready to act fast and put in your best offer up front.
- As a seller, your house may soon face more competition when other sellers list their homes. But the good news is, if you’re also buying your next home, having more options to choose from should make that move-up process easier.
Mortgage Rates Will Likely Continue To Respond to Inflationary Pressures
Experts also agree inflation should continue to drive up mortgage rates, albeit more moderately. Odeta Kushi, Deputy Chief Economist at First American, says:
“… ongoing inflationary pressure remains likely to push mortgage rates even higher in the months to come.”
- As a buyer, work with trusted real estate professionals, including your lender, so you can learn how rising mortgage rate environments impact your purchasing power. It may make sense to buy now before it costs more to do so, if you’re ready.
- As a seller, rising mortgage rates are motivating some homeowners to make a move up sooner rather than later. If you’re planning to buy your next home, talk to a trusted real estate advisor to decide how to time your move.
Home Prices Are Projected To Continue To Climb
Home prices are forecast to keep appreciating because there are still fewer homes for sale than there are buyers in the market. That said, experts agree the pace of that appreciation should moderate – but home prices won’t fall. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains:
“Prices throughout the country have surged for the better part of two years, including in the first quarter of 2022. . . Given the extremely low inventory, we're unlikely to see price declines, but appreciation should slow in the coming months.”
- As a buyer, continued home price appreciation means it’ll cost you more to buy the longer you wait. But it also gives you peace of mind that, once you do buy a home, it will likely grow in value. That makes it historically a good investment and a strong hedge against inflation.
- As a seller, price appreciation is great news for the value of your home. Again, lean on a professional to strike the right balance of the best conditions possible for both selling your house and buying your next one.
Bottom Line
Whether you’re a homebuyer or seller, you need to know what’s happening in the housing market, so you can make the most informed decision possible. Let’s connect to discuss your goals and what lies ahead, so you can pick your best time to make a move.
Custom Built Alaskan Knotty Cedar Two Bedroom Two Bath
Saturday, May 28, 2022
Tucked away on a dead end street in Brightwood is this custom built gem of a home above the Sandy River. Two bedrooms and two baths plus den/office with bonus covered patio and hot tub. Low maintenance yard with steps to a path that takes you to your own park. The path takes you to the Sandy River and unbelievable views of surrounding Cascade foothills. This home features rare Alaskan Knotty Cedar throughout the home. You'll never want to leave this great room with vaulted ceilings, skylights and tons of windows. The gourmet kitchen with gas stove looks over the living and dining room area. Hand storage and pantry area is right next to the kitchen. Big bonus is the over sized two car garage and pull down storage to stash your toys! $725,000
.jpeg)
June 4th Free Family Fishing Event on Mt. Hood!
Thursday, May 26, 2022
|
Don’t Let Rising Inflation Delay Your Homeownership Plans
Friday, May 20, 2022
![Don’t Let Rising Inflation Delay Your Homeownership Plans INFOGRAPHIC] | MyKCM](https://files.mykcm.com/2022/05/18153723/20220520-MEM-1046x2334.png)
Some Highlights
- If recent headlines about rising inflation are making you wonder if it’s still a good time to buy, here’s what experts have to say.
- Housing is an asset that typically grows in value. Plus, your mortgage helps stabilize your monthly housing costs, and buying protects you from rising rents.
- Experts say owning a home is historically a good hedge against inflation. Let’s connect if you’re ready to start the homebuying process today.
Craftsman Style Zig Zag Riverfront Cabin
Thursday, May 19, 2022
Caution, dream cabin just hit the market!
This is one of the larger cabins in the Mt. Hood National Forest on the Zig Zag River. Lots of craftsman touches and plenty of room for friends and family. Open great room with log accents. Floor to ceiling windows with lots of natural light. Three bedrooms, one bath with over 1400 square feet. Outstanding location on the Zig Zag River! Enjoy the outdoors on your huge deck! $510,000
.jpeg)
.jpeg)
.jpeg)
.jpeg)
What's On the Horizon for the Mt. Hood Real Estate Market in the Second Half of 2022
Thursday, May 19, 2022
Pages:
Displaying blog entries 261-270 of 1881
Syndication
Categories
- (0)
- Government Camp Real Estate (687)
- Mt Hood Inspiration-Morning Coffee (256)
- Mt. Hood 1031 Tax Exchanges (66)
- Mt. Hood Economic Conditions (763)
- Mt. Hood Local Events (358)
- Mt. Hood Mortgage and Financing Information (361)
- Mt. Hood National Forest Cabins (467)
- Mt. Hood New Properties on Market (309)
- Mt. Hood Sales Information (350)
