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Mt. Hood Real Estate Blog

Liz Warren

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Displaying blog entries 1701-1710 of 1904

Morning Coffee

by Liz Warren
Monday Morning Coffee

INSPIRATION FOR TODAY:

"Life is not always what the brochure promises."
~ Amb Alon Pinkas

AWAKE THE SLEEPING GIANT!

So . . . which brochure have you been reading? Maybe it's the one that promises "clear sailing" or "romantic sunsets" or "excitement guaranteed!" Maybe you're into the financial brochures that read "no money down" or "financial freedom in 30 days" or "sell a million dollars a month without leaving home."

For many years now, the brochures of our lives have promised and delivered success, satisfaction, and wealth. It's been a good run. There's another brochure many of us have signed onto - "for better or for worse." Notice that the "for better" comes first, and so it has been for a long time.

Nevertheless, our country experiences cycles, as do our lives. Few of us living today have ever experienced a serious "for worse" part of the national cycle. Yet, it has been those periods in the history of our country that have brought out the best in us. The Great Depression of the thirties was the catalyst for the strong work ethic of the baby boomers. Two world wars taught us to value our freedom.

So, maybe life isn't always "what the brochure promises." If we're entering one of those periods when we are to be tested, so be it. We are a resilient people. While we may have been dozing at the internal security wheel, lulled by the smooth purring of our national economic engine, we are also able to awaken in an instant. Our purpose and principles can quickly be brought to full throttle.

No matter the threat, we are a people united by the brochure's great promise of life, liberty, and the pursuit of happiness - ready, willing, and able to serve. Be alert and be of service!

Is this the time to invest in that great ski chalet in Government Camp? All buyers would agree that the selection is exceptional right now. Take a look at today's Mt. Hood inventory. Call or email for any additional info on these great properties.

My previous blog post discusses the Obama mortgage deduction proposal for high wage earners. If you read below you will find the Oregon Associations position to the budget proposal, which was posted today.

Mt. Hood 1031 Tax Exchange-Keep Your Funds Safe!

by Liz Warren

Mt. Hood 1031 tax exchangers take note. Be cautious who you use as your 1031 tax exchange intermediaries. There have been many recent financial failures of 1031 companies going under and declaring bankruptcy leaving your funds in jeopardy. Intermediaries are the folks who hold your money before you find your next property to exchange and close on.

One of the biggest companies, Land America 1031 Exchange Services, recently went under and around $420 million in assets were frozen. The problem is when an exchange company gets into a financial problem they may try to use funds to pay creditors and there the trouble begins. You could be out your money!

How do you protect yourself? Look for companies that have a proven track record with recommendations from investors. Be sure the company has adequate insurance and is bonded and has errors and omissions insurance. Find out where the funds are held. If in a bank is it solvent.

Hopefully these tips will help keep your exchange funds safe.

Morning Coffee

by Liz Warren
Monday Morning Coffee

INSPIRATION FOR TODAY:

"All that Adam had, all that Caesar could, you have and can do . . . Build, therefore, your own world."
~ Ralph Waldo Emerson

IF I WERE A CARPENTER . . . !

Picture a builder hiring a new framing carpenter to help construct his new homes. The first day on the job, the new carpenter shows up without a tool belt . . . and without any tools . . . and asks, "Where do I begin?" How much progress do you think would be made by the end of the first day?

Most of us at some point in our lives are like the unprepared carpenter. We show up, but have no tools, and haven't the slightest clue what we want to build. Within us, we have the power to build any life we choose, yet at day's end, nothing has changed.

Oh sure, we actively pursue the day-to-day activities of our chosen career, yet we don't take time to visualize the finished product - our life. Thoreau said it best: "Live the life you've imagined." Steven Covey said it this way: "Begin with the end in mind."

To "build your own world," begin by deciding what that world will be like. Next, gather the tools required to begin construction. Finally, begin practicing until you are an accomplished master.

If you want to be a renowned musician, choose an instrument, take lessons, and practice eight hours each day. If you want financial independence, determine a method, learn how others have achieved wealth, and mimic their approach and techniques.

Just remember, the world you get is the world you chose. It's an awesome responsibility - knowing that what you become is the result of the choices you have made. It's also an awesome opportunity to enjoy all the peace, contentment, freedom and riches life has to offer.

Two Living Areas In One Home!

by Liz Warren

You will love the killer views of the Salmon Valley and golf course from this home. Walls of windows from ceiling to floor let the outside in with tall trees and incredible views. There are actually two living areas on this over sized lot (.32 arcres)! Upstairs there's a one bedroom with a toe warming fireplace with a super efficient propane insert. Enjoy the open vaulted ceiling with wood beamed ceilings. Nice sized kitchen with cooking island and breakfast bar open to the family room. A huge walk around deck with a nice slider off the kitchen to haul the ribs outside for the barbeque.

At the ground level of the home you enter separate living quarters throught the lightfilled French doors. The ground level features a bedroom, living room and its own kitchen. There's even a shop area and tons of storage attached!

This is the perfect set up for in-laws, caregiver, students, separate rental shared home or whatever you need!  Plenty of parking and the asphalt driveway is easy care. All natural landscaping makes the outside easy. There's even a ton of room to park your RV!

Walk to the golf course across the street at the Resort at the Mountain. You've got the Mt. Hood National Forest nearly in your backyard with miles of hiking trails!

$230,000 with Great Salmon Valley Views and Golf Course!

take a tour here

This home sits right across the street from the Resort at the Mountain.

Oregon Takes a Hit

by Liz Warren

First American CoreLogic Inc, which is a company that predicts loan performance for banks, posted a recent report stating that the Oregon real estate market, although relatively stable in comparison to other areas across the nation,  saw some major declines at the end of last year.

Rhode Island, Arkansas, Maine and Pennsylvania were other states which were hit with some declining prices. First American predicts that the declines will continue into 2010.

There are some areas which saw some appreciation though. This list included eleven cities and most of these were back East in New York and Pennsylvania.

 

 

Mt. Hood Buyers: caution on increased fees coming!

by Liz Warren

Buyers for Rhododendron, Welches, Brightwood and Government Camp homes, get ready for fee increases coming on Freddie and Fannie Mae loans as of April 1st of this year! Now it's going to cost even more to get a loan even with a great credit score and large down payment.

Shades of the 1980's lending requirements are coming! What does that mean, if you have a down payment of less than 25%, even with a good credit score, you will be charged a three quarter point loan fee.

If you have little or low equity in your home and complete a refinance, the lenders plan on charging a 3% fee. Talk about tightening up the credit! This is really a whole new ballgame. The pendulum has gone completely the other way from the free for all of the past couple of years. The message lenders are giving is SAVE SAVE SAVE. Home ownership will become a very coveted item.

Beware! In this type of lending environment an owner of a home should do everything in their power to hang on to it or it could take a VERY long time to be able to buy again.

Listen Up Mt. Hood Buyers!

by Liz Warren

Is there light at the end of this tunnel? There are some major factors happening that are going to make buying a home on Mt. Hood VERY attractive this year. Recent reports coming from Moody's Economy are saying we may hit the bottom of this market by the end of 2009. This could be the first sighting of the bottom although history tells us, the bottom usually has already passed once we realize it.

The continual decline of prices, likely further reduced interest rates (some sources believe they will hit 4.5%), and the first time home buyer tax credit up to $8,000 will make this a premium buying opportunity. If you look at the larger metro declines averaged nationally, homes have lost around 25% and many areas are expected to continue to decline an additional 11% before stabilizing.

On the mountain, new listings for January and February have jumped up the inventory making an even more competitive atmosphere for home sellers. The increased inventory will make even more buying opportunities for purchasers who can make their move now.

For information about new listings or what is selling in today's market, give me a call or shoot me an email!

 

Great News for Mt. Hood Investors!

by Liz Warren

The credit crisis saw a tightening of investor loans in the fourth quarter of 2008. Fannie Mae said an investor could only have three mortgages. This was extreme and really put the slow down on investors able to enter the market but things are loosening up for investors. As of March 1st this year, Fannie Mae is changing their requirements and investors may have as many as 10 mortgages.

The lending requirements on the borrower is strict. Once the investor has the first four the next ones, five through ten require a credit score of 720, a 75% loan to value, no bankruptcies or foreclosures for seven years, no delinquencies on any mortgage for at least 12 months back and six months reserves required for every property. Yes, these are very strict items but at least it will open up the gate a bit for investors to get back in the game and help buy up foreclosures and other properties!

Displaying blog entries 1701-1710 of 1904

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