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Liz Warren

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Displaying blog entries 141-150 of 1878

New District Ranger at the Mt. Hood National Forest

Monday, April 24, 2023
by Liz Warren
Here's the latest news from the Mt. Hood National Forest! New District Ranger
 
 
Mt. Hood National Forest
Forest Service News Release
 
 
Mt. Hood Welcomes New District Ranger
 
Mt. Hood National Forest is pleased to announce Nicholas Seibel as the new Zigzag District Ranger, beginning May 8. The Zigzag Ranger District spans 250,000 acres on the west side of the Forest, including busy campgrounds and trails, ski areas, and summer cabins. The district also includes most of Bull Run Watershed, which provides drinking water to about a million Oregonians.
 
“Zigzag Ranger District is receiving national attention and investment for Forest Service priorities,” said Mt. Hood National Forest Supervisor Meta Loftsgaarden. “Nick has a wealth of experience leading and collaborating with teams during complex projects. He’s the right person to help lead the implementation of these key priorities for both the Forest and our communities.”
 
Seibel is a retired combat controller in the U.S. Air Force, where he served for 24 years. During his military career, Seibel deployed to combat zones seven times, taking part in numerous high-risk missions providing support to both air and ground forces.  
 
Seibel has extensive experience in emergency management, including leading task forces during national emergencies such as hurricanes Harvey and Irma. As a member of Oregon Air National Guard Seibel has come to know Mt. Hood well, leading and participating in search and recovery missions to locate and rescue lost or injured hikers. 
 
Seibel lives in West Linn with his wife, son, and their two dogs. The Seibel family enjoys spending time together in the great outdoors, and they frequently explore Mt. Hood skiing, hiking, and camping.
 
“As someone who has always had a deep love and appreciation for the outdoors, I am thrilled to join the Zigzag Ranger District and Mt. Hood community,” said Seibel. “The opportunity to be a part of a team that stewards the natural beauty of this stunning mountainous region while supporting outdoor recreation is inspiring and fulfilling.” 
 
Seibel succeeds previous District Ranger Bill Westbrook, who retired in late winter after 16 years in Zigzag. 

 Photo of District Ranger Seibel with Mt. Hood in the background.​

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Time Is Money When Selling Your House

Thursday, April 20, 2023
by Liz Warren

        

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What’s the Difference Between a Home Inspection and an Appraisal?

Thursday, April 20, 2023
by Liz Warren

What’s the Difference Between a Home Inspection and an Appraisal?



 

If you’re planning to buy a home, an inspection is an important step in the process. It assesses the condition of the home before you finalize the transaction. It’s also a different step in the process from an appraisal, which is a professional evaluation of the market value of the home you’d like to buy. In most cases, an appraisal is ordered by the lender to confirm or verify the value of the home prior to lending a buyer money for the purchase. Here’s the breakdown of each one and why they’re both important when buying a home.

Home Inspection

Here’s the key difference between an inspection and an appraisal. Bankrate says:

“In short, while an appraisal helps you understand a home’s value, inspections help you understand a home’s condition.”

The home inspection is a way to determine the current state, safety, and condition of the home before you finalize the sale. If anything is questionable in the inspection process – like the age of the roof, the state of the HVAC system, or just about anything else – you as a buyer have the option to discuss and negotiate any potential issues or repairs with the seller before the transaction is final. Your real estate agent is a key expert to help you through this part of the process.

Home Appraisal

The National Association of Realtors (NAR) explains:

“A home purchase is typically the largest investment someone will make. Protect yourself by getting your investment appraised! An appraiser will observe the property, analyze the data, and report their findings to their client. For the typical home purchase transaction, the lender usually orders the appraisal to assist in the lender’s decision to provide funds for a mortgage.”

When you apply for a mortgage, an unbiased appraisal (which is required by the lender) is the best way to confirm the value of the home based on the sale price. Regardless of what you’re willing to pay for a house, if you’ll be using a mortgage to fund your purchase, the appraisal will help make sure the bank doesn’t loan you more than what the home is worth.

This is especially critical in today’s sellers’ market where low inventory is driving an increase in bidding wars, which can push home prices upward. When sellers are in a strong position like this, they tend to believe they can set whatever price they want for their house under the assumption that competing buyers will be willing to pay more.

However, the lender will only allow the buyer to borrow based on the value of the home. This is what helps keep home prices in check. If there’s ever any confusion or discrepancy between the appraisal and the sale price, your trusted real estate professional will help you navigate any additional negotiations in the buying process.

Bottom Line

The inspection and the appraisal are critical steps when buying a home, and you don’t need to manage them by yourself. Let’s connect today so you have the expert guidance you need to navigate the entire homebuying process.

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Mt. Hood National Forest Opens for Woodcutting!

Tuesday, April 18, 2023
by Liz Warren

Great News for folks who like to cut their own firewood! The Mt. Hood National Forest has just released this info. Don't forget to get your permit. You can cut up to six cords of wood annually!
 
Mt. Hood National Forest
Forest Service News Release
 
Firewood cutting season opens on Mt. Hood National Forest
 
Just as snow has finally started to melt, firewood season has kicked off on Mt. Hood National Forest and will remain open through November 30. Woodcutters are required to obtain a valid personal use permit, available at no cost, before harvesting. Each household may harvest up to six cords annually.
 
Permits can be acquired in person at any Forest office or by submitting a firewood permit application via mail or email. Woodcutters must carry a permit, firewood load tags, firewood map(s), and a current information sheet while harvesting. Firewood harvested for resale purposes requires a commercial firewood permit. More firewood information is available at: www.fs.usda.gov/goto/mthood/firewood
 
Firewood harvesting can help improve forest health. Do your part to ensure that Mt. Hood has a sustainable firewood program and please follow these guidelines:
  • Do not fall standing trees, dead or alive.
  • Firewood cutting of marked timber or within timber sale boundaries is prohibited.
  • Adhere to IFPL restrictions and carry required equipment, including saws equipped with a 0.023-inch or smaller mesh spark arrestor; a long-handled shovel with an 8-inch blade; and a pressurized chemical fire extinguisher 8 ounces or larger.
  • Contact a district office for conditions updates and closure information before harvesting. 
  • If you see illegal or questionable harvest practices notify the local district office.
 
Know Before You Go
Most post-fire burn areas on the west side of the Forest have reopened. While these areas may have considerable firewood to harvest, we ask visitors to use caution as there are also increased safety risks. Hazards include falling trees and limbs, unstable ground, falling rocks and landslides. Learn more about safety in burned areas: www.fs.usda.gov/goto/mthood/burnsafety
 
Bring the 10 Essentials while harvesting. Let friends or family know when you are leaving and returning home. Many Forest Service roads are inaccessible until snow melts and much of the Forest has no cell service.
 
Some roads remain closed on the Barlow and Clackamas River Ranger Districts due to damage from the 2020 wildfires. Know all closures and stay up to date on Mt. Hood National Forest fire recovery progress: www.fs.usda.gov/goto/mthood/2020fires
Historic photo of firewood stuffed into the front trunk of Volkswagen beetle car.
 
USDA is an equal opportunity provider, employer, and lender.
 
 
Mt. Hood National Forest
 
Mt. Hood National Forest | 16400 Champion Way, Sandy, OR 97055
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Think Twice Before Waiting for Lower Home Prices on Mt. Hood

Monday, April 17, 2023
by Liz Warren

Think Twice Before Waiting for Lower Home Prices



 

As the housing market continues to change, you may be wondering where it’ll go from here. One factor you’re probably thinking about is home prices, which have come down a bit since they peaked last June. And you’ve likely heard something in the news or on social media about a price crash on the horizon. As a result, you may be holding off on buying a home until prices drop significantly. But that’s not the best strategy.

A recent survey from Zonda shows 53% of millennials are still renting right now because they’re waiting for home prices to come down. But here’s the thing: the most recent data shows that home prices appear to have bottomed out and are now on the rise again. Selma Hepp, Chief Economist at CoreLogic, reports:

“U.S. home prices rose by 0.8% in February . . . indicating that prices in most markets have already bottomed out.”

And the latest data from Black Knight shows the same shift. The graph below compares home price trends in November to those in February:

So, should you keep waiting to buy a home until prices come down? If you factor in what the experts are saying, you probably shouldn’t. The data shows prices are increasing in much of the country, not decreasing. And the latest data from the Home Price Expectation Survey indicates that experts project home prices will rise steadily and return to more normal levels of appreciation after 2023. The best way to understand what home values are doing in your area is to work with a local real estate professional who can give you the latest insights and expert advice.

Bottom Line

If you’re waiting to buy a home until prices come down, you may want to reconsider. Let’s connect to make sure you understand what’s happening in our local housing market.

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Mt. Hood Vacation Rentals

Saturday, April 8, 2023
by Liz Warren

Mt. Hood vacation rentals are some of the most popular types of properties that buyers look for in our area.  If you are thinking about purchasing a Mt. Hood vacation rental and want to do some research you might want to check out some helpful websites that will help you gather information. With over 800 vacation rentals in the Mt. Hood area including Government Camp, Rhododendron, Welches and Brightwood, you know we are a mecca for vacation rentals.

 

All of these websites offer information on short term rental markets, occupancy rates, average nightly rates, and revenue projections.

 

  1. AirDNA  https://www.airdna.co/:
  2. VRBO:  https://www.vrbo.com/
  3. Booking.com
  4. TripAdvisor:  https://www.tripadvisor.com
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Homeownership Is a Hedge Against Inflation

Thursday, April 6, 2023
by Liz Warren

       

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Trying To Buy a Home on Mt. Hood? Hang in There.

Thursday, April 6, 2023
by Liz Warren

 



 

We’re still in a sellers’ market. And if you’re looking to buy a home, that means you’re likely facing some unique challenges, like difficulty finding a home and volatile mortgage rates. But keep in mind, there are some benefits to being a buyer in today’s market that give you good reason to stick with your search. Here are a few of them.

Long-Term Benefits Outweigh Short-Term Challenges

Owning a home grows your net worth – and since building that wealth takes time, it makes sense to start as soon as you can. If you wait to buy and keep renting, you’ll miss out on those monthly housing payments going toward your home equity. Freddie Mac puts it this way:

“Homeownership not only builds a sense of pride and accomplishment, but it’s also an important step toward achieving long-term financial stability.”

The key there is long-term because the financial benefits homeownership provides, like home value appreciation and equity, grow over time. Those benefits are worth the short-term challenges today’s sellers’ market presents.

Mortgage Rates Are Constantly Changing

Mortgage rates have been hovering around 6.5% over the last several months. However, as Sam Khater, Chief Economist at Freddie Mac, notes, they’ve been coming down some recently:

“Economic uncertainty continues to bring mortgage rates down. Over the last several weeks, declining rates have brought borrowers back to the market . . .”

Lower mortgage rates improve your purchasing power when you buy, and that can help make homeownership more affordable. Hannah Jones, Economic Data Analyst at realtor.com, explains:

“As we move into the spring buying season, mortgage rates have ticked lower, a welcomed sign of progress towards affordability.”

The recent drop in mortgage rates is good news if you couldn’t afford to buy a home when they peaked.

Home Prices Will Increase

According to the Home Price Expectation Survey, which polls over 100 real estate experts, home values will go up steadily over the next few years after a slight decline this year (see graph below):

Rising home prices in the coming years means two things for you as a buyer:

  • Waiting to buy a home could mean it’ll become more expensive to do so.
  • Buying now means the value of your home, and your net worth, will likely grow over time.

Bottom Line

If you’ve been trying to buy a home, hang in there. Mortgage rates have ticked down some recently, home prices are forecast to increase in the coming years, and the long-term benefits of homeownership outweigh many of the short-term challenges.

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Why Aren’t Home Prices Crashing on Mt. Hood?

Wednesday, April 5, 2023
by Liz Warren

Why Aren’t Home Prices Crashing on Mt. Hood?



 

There have been a lot of shifts in the housing market recently. Mortgage rates rose dramatically last year, impacting many people’s ability to buy a home. And after several years of rapid price appreciation, home prices finally peaked last summer. These changes led to a rise in headlines saying prices would end up crashing.

Even though we’re no longer seeing the buyer frenzy that drove home values up during the pandemic, prices have been relatively flat at the national level. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), doesn’t expect that to change:

“[Home prices will be steady in most parts of the country with a minor change in the national median home price.”

You might think sellers would have to lower prices to attract buyers in today’s market, and that’s part of why some may have been waiting for prices to come crashing down. But there’s another factor at play – low inventory. And according to Yun, that’s limiting just how low prices will go:

“We simply don’t have enough inventory. Will some markets see a price decline? Yes. [But] with the supply not being there, the repeat of a 30 percent price decline is highly, highly unlikely.”

As you can see in the graph below, we’ve been at or near record-low inventory levels for a few years now.

That lack of available homes on the market is putting upward pressure on prices. Bankrate puts it like this:

“This ongoing lack of inventory explains why many buyers still have little choice but to bid up prices. And it also indicates that the supply-and-demand equation simply won’t allow a price crash in the near future.”

If more homes don’t come to the market, a lack of supply will keep prices from crashing, and, according to industry expert Rick Sharga, inventory isn’t likely to rise significantly this year:

“I believe that we’re likely to see low inventory continue to vex the housing market throughout 2023.”

Sellers are under no pressure to move since they have plenty of equity right now. That equity acts as a cushion for homeowners, lowering the chances of distressed sales like foreclosures and short sales. And with many homeowners locked into low mortgage rates, that equity cushion isn’t going anywhere soon.

With so few homes available for sale today, it’s important to work with a trusted real estate agent who understands your local area and can navigate the current market volatility.

Bottom Line

A lot of people expected prices would crash this year thanks to low buyer demand, but that isn’t happening. Why? There aren’t enough homes for sale. If you’re thinking about moving this spring, let’s connect.

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How Changing Mortgage Rates Can Affect You

Monday, April 3, 2023
by Liz Warren

How Changing Mortgage Rates Can Affect Your Buying and Purchase Power on Mt. Hood



 

The 30-year fixed mortgage rate has been bouncing between 6% and 7% this year. If you’ve been on the fence about whether to buy a home or not, it’s helpful to know exactly how a 1%, or even a 0.5%, mortgage rate shift affects your purchasing power.

The chart below helps show the general relationship between mortgage rates and a typical monthly mortgage payment:

Even a 0.5% change can have a big impact on your monthly payment. And since rates have been moving between 6% and 7% for a while now, you can see how it impacts your purchasing power as rates go down.

What This Means for You

You may be tempted to put your home buying plans on hold in hopes that rates will fall. But that can be risky. No one knows for sure where rates will go from here, and trying to time them for your benefit is tough. Lisa Sturtevant, Housing Economist at Bright MLS, explains:

“It is typically a fool’s errand for a homebuyer to try to time rates in this market . . . But volatility in mortgage rates right now can have a real impact on buyers’ monthly payments.”

That’s why it’s critical to lean on your expert real estate advisors to explore your mortgage options, understand what impacts mortgage rates, and plan your home buying budget around today’s volatility. They’ll also be able to offer advice tailored to your specific situation and goals, so you have what you need to make an informed decision.

Bottom Line

Your ability to buy a home could be impacted by changing mortgage rates. If you’re thinking about making a move, let’s connect so you have a strong plan in place.

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Displaying blog entries 141-150 of 1878

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