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Mortgage Relief Debt Forgivemess Act?

by Liz Warren

Have you heard of this act?  This Act is for helping people in foreclosure on their primary homes or facing a short sale (working with a lender who will accpet less on the principle owed). Once that sale is complete or if you are foreclosed upon, the difference owed is treated as income to the individual and taxed as income creating a double wammy. 1. Loosing your home and 2. paying taxes on income you didn't receive

This "unfairness" has caught the interest of Congressmen. The House says this is not fair. So now we have this new Act getting debated. Hidden within this act is something that could affect all primary homeowners. If this Bill passes it will impact the homeowner's tax free deduction when selling your primary home (up to $500,000 for married couples, filing jointly, and $250,000 for singles). This bill requires a homeowner to live in their home five full years and not the current two years out of the past five, in order to get this tax free money. Shorter periods of occupancy would get prorated.

If this bill passes this could have a heavy impact on the sale of your primary home!

8.8% appreciation for October!

by Liz Warren

The constant druming of the "bad" real estate market is overwhelming for agents. Did you know the October rate of appreciation for our area is 8.8% according to the Multiple Listing Service!

Yes, pending sales were down 35% in October but there are buyers enjoying excellent interest rates and lots of choices who are buying right now.

Real Estate is Local!

Did you know that 2007 is the 5th best housing year on record?

 

Measure 49 Update for Buyers and Sellers!

by Liz Warren

Read the latest on Measure 49 :

Hit this link

Buena Vista Homes Come to Auction in Sandy

by Liz Warren

If you've traveled through Sandy recently the signs are hard to miss. Auction signs spring up on both East and West sides of the town signaling an  auction of 32 homes owned by Buena Vista builders.

Twelve of the homes are located in Cascadia Village and the balance are in the Hamilton Ridge subdivision.

Details may be found at this link:

Buena Vista Auction

It's the case of overbuilding during economic changes and not selling your inventory. This impacts not only other single family homeowner's in Sandy who are trying to sell right now but also homes further up the mountain in Welches, Brigtwood and Rhododendron. Single family homes in subdivisions are up against some stiff competition with auctions and standing inventory from Rhodododendron to Gresham!

 

 

Mt. Hood Christmas Trees

by Liz Warren

Looking for a great family event? Come to Mt. Hood and cut your Christmas tree in the Mt. Hood National Forest. Our family has taken this adventurous route in the past and it is FUN!

You can cut up to one tree 12 feet tall. Permits will be available starting the Monday before Thanksgiving at these locations:

 
Mt.Hood National Forest Headquarters

16400 Champion Way

Sandy, OR (SE 362nd and Hwy 26)

503-668-1700

Monday thru Friday

7:30am to 4:30pm (closed 11:30 to 12:30 for lunch)


Zigzag Ranger District

70220 E. Hwy 26

Zigzag, OR

503-622-3191

Monday thru Saturday in November 7:45am to 4:30pm

Through December 17th, Saturday and Sunday from 8am to 2pm

 

 

The Real Mortgage Story

by Liz Warren

How about some real statistics about what is happening in the "mortgage crisis".

Did you know that the "mortgage problems" are mostly in seven states? Three are Ohio, Michigan and Indiana. These three states had problems three years ago and these problems were due to job losses. Real estate is "local" and jobs have a great deal to do with any local real estate market. Until jobs are increasing, these areas will continue to have problems.

The other states, California, Arizona, Florida, and Nevada were basically overbuilt. They now have excess inventory. the speculators that were purchasing mutiple homes and condos in mass- picking up 5 or 6 properties are the ones who are crashing and cannot make their mortgage payments.

The other 43 states are doing pretty well. In fact, in these states foreclosures have actually fallen from 2006 to 2007.

Did you know that 35% of homeowners in the United States have NO MORTGAGE!

The real numbers are that 94.88% of loans are doing fine. Even 75% of subprime mortgages are performing fine. In reality, only 3% of loans are "in trouble".

To read some of the articles in the news you would think the entire market was crashing when it really isn't.

National Forest Cabins: High Learning Curve for Purchasers!

by Liz Warren

One of THE most popular properties to own near Mt. Hood are the forest cabins located in the Mt. Hood National Forest. Pristine settings along creeks and rivers with old growth trees and 1935 cabins nestled in the woods are a treat . These cabins are located only one hour from Portland near Mt. Hood. They make a fantastic vacation spot due to their close proximity to skiing, hiking, and other mountain amenities!

Learning about this program has a high learning curve. The first step is reading the permit/lease so you know what is involved with ownership.

For more details visit www.MountHoodCabins.com  or send an email to Liz@MtHoodAreaRealEstate.com

 

National Association of Realtors Portland Area Outlook

by Liz Warren

To keep you updated on the latest info on the Portland Metro area real estate outlook, I have provided a link to the October 2007 National Association of Realtors info. You can read this document and find out appreciation rates, subprime lending numbers, foreclosures and other interesting projections based upon economic factors and interest rate movement. Hit this link to download.

Displaying blog entries 1-8 of 8

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Liz Warren
Merit Properties Group - Keller Williams Realty PDX Central
Box 131
Welches OR 97067
Direct: 503-705-3090