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Displaying blog entries 11-20 of 21

Mt. Hood Sales for August 2009

Sunday, September 20, 2009
by Liz Warren

August Sales were WAY UP compared to any other month this year! A total of 14 sales for the month, seems like the number is almost normal for a typcial August on the mountain. Mt Hood National Forest cabins saw the largest segment of sales with five for the month! Four properties were under $100,000 in price. A couple were taking advantage of the first time home buyer plan with the $8,000 credit. September numbers look pretty good too with seventeen properties pending from Government Camp, Rhododendron, Welches and Brightwood.

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Market Stats for Mt. Hood Real Estate August Numbers Are In

Tuesday, September 15, 2009
by Liz Warren

The numbers are in for the mountain area from Government Camp, Rhododendron, Welches and Brightwood. The multiple listing service just released the numbers today. The chart below shows active, pendings, and solds for the month of August 2009. This is also compared to last year and year to date numbers.

SALES ARE WAY UP! Fourteen total for the months of August. The stimulus package is working and many of these were first time home buyers exersising the $8,000 tax cedit!

Here are the sales:

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Elephant in the Room

Tuesday, September 15, 2009
by Liz Warren

Have you heard about the 134 Billion in US option Arm mortgages getting ready to "recast" in the next couple of years? It's coming and it will have impact. Recasting is when, for example, a 5 year arm comes up for the interest rate to adjust to current levels. Many of these loans create negative amortization. Negative amortization makes your balance higher than it was when you originally took out your loan. If you have a five year ARM, it's possible home prices have declined and you are now under water with your value. Some interest rates will double causing many homeowners in this current economic environment to be unable to make these payments.

California, Florida, Nevada and Arizona, which have experienced declines of as much as 48% in values will be particularly hard hit when the ARMs begin adjusting. These states will see many additional foreclosures in their future.

Locally in the Mt. Hood area from Government Camp, Rhododendron and Welches, we will not see as much of an impact. Sandy, on the other hand, may see some additional foreclosures due to their rapid growth and newer subdivisions that have sprung up over the past five years.

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Monday Morning Coffee

Monday, September 14, 2009
by Liz Warren
Monday Morning Coffee

INSPIRATION FOR TODAY:

"Every conquered temptation represents a new fund of moral energy.
Every trial endured and weathered in the right spirit makes a soul nobler
and stronger than it was before."
~ James Buckham


YOU'RE NOT DONE YET!

Ever noticed how great leaders often come from humble beginnings? From the devastating depths of silence and inability to speak, Helen Keller inspired the world once she had overcome great adversity.

Diagnosed with amyontrophic lateral sclerosis and standing before a full-house crowd in Yankee Stadium on July 4th 1939, Lou Gehrig proclaimed, "I am the luckiest man on the face of the earth! I might have been given a bad break, but I 've got an awful lot to live for." He spent the last two years of his life as Parole Commissioner for New York City, hoping to make a difference in the lives of young people in trouble.

Today, we use more contemporary quotes to explain the same concept. We say, "No pain - no gain!" or, "When the going gets tough, the tough get going." No matter how we verbalize it, it is true that through adversity comes strength.

Think back to the toughest times you've faced during your life. Chances are you'll have to agree that you grew and became a better person for the experience. As for temptations, they are more easily given in to than conquered. Nevertheless, the value system to which you subscribe today probably evolved from temptations overcome.

As Richard Bach put it in his wonderful book "Illusions," "There is no such thing as a problem without a gift for you in its hands. You seek problems because you need their gifts." Whether it be a physical or moral challenge you face, suffer if you must, but look also for its gift. And remember another Richard Bach quote, "Here is a test to find out whether your mission here on earth is finished: If you're alive, it isn't."

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Mt. Hood First Time Home Buyers

Thursday, September 10, 2009
by Liz Warren

Take advantage now for the first time home buyer credit of $8,000! Time is running out with this program expiring November 30th. You would probably need to be in escrow by September 30th to meet this deadline. Beyond that, you risk not getting your purchase closed in time.

The National Association of Realtors is trying to get this tax credit extended. It has spurred the home sales of summer all across the country. Once this tax credit is gone, and if interest rates go up, we will see an increasingly slow market returning with foreclosures still coming in, this could reduce sales and increase competition for sellers.

NAR is trying to get a $15,000 tax credit for ANYONE who purchases a home but will this happen? Stay tuned. This could help the move up buyers and help price ranges over $250,000.

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Mt. Hood Festival of the Forest

Thursday, September 10, 2009
by Liz Warren

Here is a great weekend event for September on the Mountain:

 

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Salmon River Condo Price Reduction

Wednesday, September 9, 2009
by Liz Warren

This is a rare setting right on the Salmon River with a turn key ready unit at an affordable price! Just reduced to $260,000! This Shadow Hawk unit has one of the best locations on the entire mountain. Sit back and take in the view

 The upper unit comes nearly completely furnished and has been completely remodeled. Enjoy a roaring fire in the fireplace or cook up a gourmet meal in the updated kitchen-including granite counter tops.

You will love the remodeled bathrooms. I can't think of any unit in the complex as nice as this one. Steps to a 27 hole golf course at the Resort at the Mountain. Only 15 minutes to premium ski areas and ONLY ONE HOUR FROM PORTLAMD. Enjoy luxury in Welches, Oregon at this Shadow Hawk Condo Unit.

Play VisualTour

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Freddie Mac and Fannie Mae

Monday, September 7, 2009
by Liz Warren

Change is in the air with Congress working on restructuring the failing Freddie Mac and Fannie Mae. Mortgage bankers are suggesting creating a "good bank" and a "bad bank" and getting rid of both of these institutions. The good bank would deal with the profitable mortgage loans and the bad bank would deal with work outs on bad loans and resolutions for people in trouble.

What does this mean to home buyers if the reorganization happens? It could mean that the government would guarantee the regular conventional fixed rate plain vanilla loans.

The loans that are not mainstream such as Jumbo loans or other non conforming loans may not get serviced through the reorganization. The National Association of Realtors is trying to lobby to get these nonconforming loans serviced. Although Freddie and Fannie are staying the same right now, look for changes by some time next year.

 

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Credit Card Changes

Monday, September 7, 2009
by Liz Warren

What do the new changes for credit cards mean for you? If you haven't noticed, many credit card companies have already made preemptive strikes. Since January 2009 many companies have raised interest rates  and fees by 20% and slashed credit limits for an estimated 58 million card holders.

August 2009 new regulations came into effect on receipt of your credit card bill, how much notice consumers are given before their rates are changed and other items.

It's predicted that the credit card industry will be in turmoil for another year. Be sure and watch for notices from companies because if you don't pay attention you may be subject to more fees!

Here are some interesting stats:

*about 85% of credit card owners pay interest or fees every month

*48% incur penalties and or exceed their credit card limits

Naturally, the higher interest rates on balances may cause credit dings which will cause a lower credit score. This could trigger higher interest rates when you purchase goods- such as cars, refrigerators or any other consumer goods you purchase on credit.

You might want to consider switching your card balance over to a lower rate at some point. Just be aware of the good, the consumer protection laws (Card Accountability Responsibility and Disclosure) going into effect, and the bad-the impact of your card's higher rates and credit limits!

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Morning Coffee

Monday, September 7, 2009
by Liz Warren
Monday Morning Coffee

INSPIRATION FOR TODAY:

"The philosophy of the classroom in one generation will be the philosophy of the government in the next."
~ Abraham Lincoln


TEACH VALUES 101!

What do children and government have in common? That depends on which classroom you visit. If you have children and are actively involved in their lives, you are likely to encounter a classroom filled with intelligent, interested, involved and respectful children.

Unfortunately, many teachers today will tell you that's not what they are seeing. In some 1st & 2nd grade settings, children fall asleep because they spent the night in the family car while mom or dad sold drugs. Others are antagonistic and disrespectful, traits also learned from other family members. Still others are raised in a "no rules" family, where parents simply abdicate their parental responsibilities.

Many parents still take their responsibilities seriously. In fact, there appears to be a resurgence of young parents who teach their children the values of honesty, integrity, and service to others. It's about time. If you're one of them, I applaud your commitment to making the world a better place.

There has also been a dearth of honesty, respect and morality over the past 30 years or so. Children brought up during that time often experienced the negative effects of a no rules society. Today those same individuals are beginning to lead companies and be elected to office, yet we are surprised that company CEO's and elected officials could ever lie and mislead as they have been exposed to do recently.

As the children of today's classrooms are disposed to believe and behave, so will they as the adults of tomorrow's generation. Whether you are a parent, grandparent, aunt or uncle, you can make a difference for the next generation of leaders. Take time to encourage, nurture, and teach the children in your family. Sometimes, a single comment or gesture can give a child the impetus to become great.

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Displaying blog entries 11-20 of 21

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