Displaying blog entries 1991-1996 of 1996
Join me for Monday Morning Coffee! I'll give a brief update on the local market and a little weekly inspiration! (This week, only inspiration) If you would like to receive this every Monday by email, please send me an email at
Place Monday Morning Coffee in the subject line. Your copy will be on its way every Monday morning!
This week's
Here are the top five pricing considerations for today's market and selling your property.
1. Increased Inventory
2,Increased Mortgage Rates
3.Increased Mortgage Restrictions
4. Increased Vacancy Rates
5. Increased foreclosures
(cutesy of Steve Harney)
The mortgage industry is not in chaos and there is plenty of money available to loan. The industry has changed though. To summarize some of the changes, and there are a few, here is a bullet list of some items for consideration when searching for a new loan and for understanding what is different since last year.
*161 lenders have closed their doors since 2006
*Underwriting standards are stricter than ever
*Credit scores less than 620 with little money down are not eligible for subprime loans
*Buyers are turning to FHA and VA loans to get 97% and 100% loans at reasonable rates
*Non-profit down-payment assistance programs are gone
*It's very tough to do a 1st and 2nd mortgage to finance a 90-95% loan of the sales price
*Jumbo loans (over $417,000) are now quoted at 7.5% or more depending on the borrower and their down-payment
*Jumbo loans often require two appraisals-one by the lender and one by the investor
*Lenders are very cautious about fraud these days
Lenders are searching for risk reduction. and scrutinizing loans heavily which have low FICO scores (credit scores), stated income borrowers, low down-payments, and high dept to income ratios.
I would highly recommend you search for an experienced mortgage broker if you're looking for a first mortgage or refinance!
As we head into fall, here are a few tips to keep your property in tip top condition, Courtesy of Amos Home Inspections:
Winterize exterior faucets.
Check caulking around doors and windows. Repair or replace, if necessary.
Check for cracks and openings in exterior siding, fill with caulk, if necessary.
Check exterior siding and trim for peeling paint or exposed wood. Prep and paint, if necessary.
Clean leaves and tree debris from gutters and downspouts.
Trim vegetation away from house and roof.
Drain or maritally drain water heater. Follow manufacturer's recommendation.
Check furnace filters, repair or replace, if necessary.
Despite the doom and gloom of the media drums, the mountain market currently has 21 pending sales!
Under $200,000 8 pending
$200,000 to $300,000 4 pending
$300,000 to $500,000 9 pending
These numbers include three forest service cabins and two properties in Government Camp. Forest cabin invenotry is down to three properties listed so if you want a cabin for skiing this winter, now is the time to buy.
And for my shameless plug: This forest service cabin is on the market right now at $109,500!
Call me today for details! 503-705-3090
Three musical events and festivals are heading to the mountain next weekend!
September 14 through 16th
First is the Festival of the Forest held at Wildwood Park right off Hiway 26. This event will be held September 15th and 16th. This event celebrates Mt. Hood’s culture, arts & forest. Over 12 hours of live music, food, beer garden, booth with activities & crafts, art contest and forest activities for the whole family. Don’t miss the 20 year musical reunion of legendary Portland nightclub The Last Hurrah. We are talking some great Portland bands such as Burnside Bombers – Bob Voll & the Too Loose Trio - Cowboy Angels - Hank Rasco - Hurrman Burrman – Jeff Lorber – Marlon McClain - Jack McMahon - John Bunzow – Jon Koonce (of the Distractions) & One More Mile - Lone Coyote Club - NuShoozOrchestra - Thin Man
Trigger's Revenge - Billy Rancher's Unreal Gods - Wheatfield
Lineup Subject to Change
Hit this link for details: http://www.mthood.info/forestfest/
This year is the first annual 3900 Foot Festival event on September 14th and 15th. The event will take place over Friday and Saturday at Mt. Hood Skibowl East (Multorpor) on two outdoor stages. The goal of the festival is to feature the best of independent music in the West, and make it accessible to everyone--families, kids, teenagers, and others, as well as to celebrate our beautiful natural resources at Mt. Hood. Details are listed at this link. http://theunionrecords.net/index.php
The third event: Spirit on the Mountain Christian music festival on September 15th at the Mt. Hood RV Village. This event features 14 well knows Christian bands and details can be found at this link: www.spiritonthemountain.com
Displaying blog entries 1991-1996 of 1996
