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Posts Tagged "Buying a Home"
How Much Down Payment Do I Need to Buy a Home
It’s easier than you might think to buy a home in Portland. There has been so much news about stricter lending requirements over the past few years. Many folks who could be first time home buyers think they are unable to buy right now. Some folks think you need 10% or 20% of the sales price to buy a home now. Some think there are no loans for first time home buyers. Well I’m here to tell you that is just wrong information. You too can take advantage of historic low interest rates and low prices for Portland real estate. 3.75% is the current FHA loan interest rate for buying a home. (Click here to get more complete information including APR.) Call me...
Read MorePortland Real Estate Market Conditions October 2011
How’s the Portland Real Estate Market? Portland home sales this year are shaping up to be an improvement over 2010. According to the latest stats from RMLS, closed sales are up again compared with last year. For October 2011 closed sales are up 14.1% compared with October 2010. Pending sales are also up 15.1% compared with last year. Thinking of buying a home in Portland? Last week the 30 year fixed rate for an FHA loan was still 3.75%. Amazing! Who knows how long these low rates will last. Thinking of selling your home in Portland? For October the average market time was 136 days. (This report is a snapshot in time. To compare October with previous months, see...
Read MorePortland Real Estate Market Conditions August 2011
Wow, Portland real estate sales have really improved… judging by the August 2011 numbers from our local MLS. Closed sales are up dramatically (30.7% over the previous August) and pending sales are also up. Portland home buyers must really be taking advantage of the extremely low interest rates. Last week the 30 year fixed rate for an FHA loan was 3.8%. Amazing! (This report is a snapshot in time. To compare August with previous months, see my other Market Conditions Reports.) Portland Real Estate Market: Sales Closed and pending sales are up for August 2011. Compared with the previous August (2010), closed home sales in the Portland metro area are up 30.7% and...
Read MoreHow to Buy Distressed Properties
Thinking of buying a home in Portland? These days some of Portland’s best real estate values come from buying properties that have issues. We’re talking buying a home in distressed condition (fixer-uppers) or distressed terms (short sale ). Frequently it’s both (cash only terms due to condition). Here’s more about buying Foreclosures. Here’s more about buying Short Sale Properties. Maybe the home needs a new roof and electrical panel. The owner took the furnace with him when he was forced to leave. And the septic system is “iffy.” (I don’t have to make this stuff up. Reality is crazy enough.) Possibly the seller needs his lender to go...
Read MoreBuying a home in Portland? See how to buy more home with less money
Quick before it’s gone.. Attention Portland home buyers. Here’s a great opportunity to make buying a home in Portland affordable. You’ll need to be a first time home buyer and you’ll need to act now to take advantage of the Oregon Bond Loan program. If you qualify and want to search for homes in Portland, use this link to see all the Portland homes for sale in the MLS. Rodd Miller of Pacific Residential Mortgage, LLC sent me the information about this state program. It’s only available for a little while, so call me or call Rod quickly to see if you qualify. Here’s what Rod has to say: The Oregon Bond Loan helps consumers in Oregon buy...
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