(503) 320-3163
Buying a Home In Portland
Finding and buying a home is a big project. Once you receive those keys to your new home, you’ll be smiling. But in the meantime there’s so much to do and think about.
How much home can you afford? Check out the mortgage calculator to the right below. For the financial part of buying a home, you’ll need a great loan officer. I can suggest a few names for you.
For the process of buying a home I have lots of information to share with you. I’ve gathered it in over 25 years of helping Portland buyers achieve their home ownership goal. Below is a start on your home buying education.
Be sure to also check out the interactive map to search the MLS for homes for sale in the Portland metro area. You’ll be able to see what’s for sale in different prices and neighborhoods. Or if you prefer, just use the quick search widget at the right.
Tips for Finding the Perfect Neighborhood When Buying a Home in Portland
The neighborhood you choose can have a big impact on your lifestyle—safety, available amenities, and convenience all play their part.
- Make a list of the activities—movies, health club, church—you engage in regularly and stores you visit frequently. See how far you would have to travel from each neighborhood you’re considering to engaging in your most common activities.
- Check out the school district. The Department of Education in your town can probably provide information on test scores, class size, percentage of students who attend college, and special enrichment programs. If you have school-age children, also consider paying a visit to schools in the neighborhoods you’re considering. Even if you don’t have children, a house in a good school district will be easier to sell in the future.
- Find out if the neighborhood is safe. Ask the police department for neighborhood crime statistics. Consider not only the number of crimes but also the type—burglaries, armed robberies—and the trend of increasing or decreasing crime. Also, is crime centered in only one part of the neighborhood, such as near a retail area?
- Determine if the neighborhood is economically stable. Check with your local city economic development office to see if income and property values in the neighborhood are stable or rising. What is the percentage of homes to apartments? Apartments don’t necessarily diminish value, but they do mean a more transient population. Do you see vacant businesses or homes that have been for sale for months?
- See for yourself. Once you’ve narrowed your focus to two or three neighborhoods, go there, and walk around. Are homes tidy and well maintained? Are streets quiet? Pick a warm day if you can and chat with people working or playing outside. Are they friendly? Are their children to play with your family?
Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®
Copyright 2005. All rights reserved.
www.REALTOR.org/realtormag
PDX is on Forbes Top Ten List
Great news for Portland. Home owners in the Portland Metro area are in good shape compared with most of the country. We have low interest rates on our mortgages and low foreclosure and delinquency rates. This is according to a study by Forbes.com which names Portland in the top ten cities in the country that are best for borrowers. I would have to say that the information they used to do the ranking makes it one of the best cities for home sellers too. Forbes looked at which cities in the country had the lowest mortgage rates. Then they added...
read moreExtension of First Time Home Buyer Tax Credit–for some
Many first time home buyers have just 18 more days to participate in the $8,000 federal tax credit program. But there’s a one year extension of the program for some members of the military and certain other federal employees. Service people qualify if they are: members of the uniformed services, Foreign Service and members of the intelligence community. They are eligible for this one year extension if they serve on qualified official extended duty service outside of the United States for at least 90 days during the period...
read moreMore help for buying a home in Oregon
As the First Time Home Buyer Federal Tax Credit Program winds down, other programs are cropping up to help home buyers. Here’s one for people wanting to buy a home in Portland or any other part of Oregon. Oregonians looking to buy their first home may qualify for an assistance grant from the Home Sweet Home Program (HSHP). The Oregon Association of Realtors and the Oregon Bankers Association have partnered to create grants for buyers who earn less than or equal to the median income in their area. (The Oregon median income in 2008 was ...
read more“Instant” debt relief???
Q: Hey Tim, one of my clients asked me about using one of those debt relief companies you see on TV. What do you think? A: Anne, I’d tell your client to beware of so-called debt services as advertised on TV! Here’s why: Any promise of “Instant” debt relief is likely to be a scam, especially if the service charges an upfront fee of several hundred dollars. No one can make your debt disappear. But there are ways you can lower your monthly payments. For relief, turn to a nonprofit credit counseling agency certified by the National...
read moreOpportunity Knocks
Right now, as the Portland real estate market continues to stabilize, there are unique opportunities for home buyers and home sellers. It you’re trying to time your purchase for the bottom of the market, now is the time. And see below why you might want to time your sale for the bottom of the market too. FOR BUYERS Low mortgage rates–Current low interest rates (around 5%) won’t last. This spring the Fed will wind down its subsidy of home loan rates. Interest rates are expected to rise....
read moreAct fast to get your home buyer tax credit
The federal government is giving away money to home buyers. Do your part. Stimulate the economy. Receive what may be a once in a lifetime income tax credit when you buy your first home or as an existing home owner, buy another home. If you need more info, please give me a call. I can help. Here are the details for the Home Buyer Tax Credit of 2009/2010: Who is eligible? First Time Home Buyer Maximum $8,000 tax credit Buyers who have not owned a home for the 3 years before this purchase Current Home Owner Buying New...
read more2009 First Time Home Buyer Tax Credit Q&A
So many people have asked me how the federal $8,000 tax credit works. Basically it’s a once in a lifetime opportunity to buy your first home and get paid by the government. Here are some highlights. What is it? It’s a gift from the federal government to all you first time home buyers. It’s goal is to help stimulate home sales and make first time home buying more affordable. Who is a first time home buyer? If neither you nor your spouse have owned a residence in the last 3 years you qualify. What kinds of properties are covered? As...
read more
