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Mt. Hood Real Estate Blog

Liz Warren

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HAMP numbers

Saturday, August 21, 2010
by Liz Warren

What is HAMP? Home Affordable Modificaiton Program This government program helps homeowners get their payments modified so they can stay in their homes.

This chart shows the numbers of modifications currently in process.

HAMP

Some of the dept to income ratios are shocking for modifications. The modification program does not work for many and after you see the numbers you'll know why. The median front end, or housing dept to income ratio was 44.8% of the income but combined with total debt, the median dept to income ratio was 79.7%. Yes, nearly 80% of the income of the borrower went to servicing debt.

After the HAMP modification, that total debt to income for all debts went to 63.5%. That is a huge amount of debt even after modification. This explains why there are still failures and drop outs after the modifications take place and why it has not been the big success the government had hoped for. It also shows why banks have not been quick to act in completing this program since they often end up foreclosing on the property any way.

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New Mt. Hood USDA loans

Wednesday, August 18, 2010
by Liz Warren

The recently funded USDA loan program has just been refunded for our area. This includes Welches, Rhododendron, Brightwood and Government Camp. This program is for low income earners and is in very high demand. The loan is 100% financing!

Details may be found here.

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Monday Morning Coffee

Monday, August 16, 2010
by Liz Warren
Monday Morning Coffee

INSPIRATION FOR TODAY:

"If you're gonna go, go like hell.
If your mind's not made up,
don't use your spurs."

From "Don't Squat With Your Spurs On!"
("A Cowboy's Guide to Life" by Texas Bix Bender)


LIVE WITH PASSION!

When you're ready to ride, don't wear your Nikes. Put on your boots and spurs, and let your horse know you mean to ride hard. Then - ride with passion.

How many times have you thought of achieving a dream - only to spend more time in the dreaming and planning than in the doing? No problem - we all do it from time to time. The old nemesis - fear of failure and the unknown - haunts all of us occasionally, keeping us from reaching our objective.

Think back to the last time you took action with a burning passion! Were you competing for a gold medal, fighting for your life under adverse circumstances, or vying for the heart of your beloved? Something was motivating you to the limit, and you refused to quit.

So, what's your passion right now - today? Maybe it's an education, a new career, getting in shape, having more freedom, money & status, or closer family ties. Whatever your desired direction in life, put on your spurs, mount your horse, and hit the trail! There's no greater joy in life than putting everything you've got into an achievement - and then realizing you've overcome all the obstacles.

Ride hard, buckaroo!

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Mt. Hood Foreclosures for August 2010

Monday, August 16, 2010
by Liz Warren

Here are Mt. Hood foreclosures for Government Camp, Welches, Rhododendron, and Brightwood. These are actively listed foreclosures near Mt. Hood. Don't miss the three condos at Collins Lake in Government Camp!

Call me for any addtional information you might need!

Mt. Hood foreclosures for August 2010

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Government Camp Alpenglade Lot Sells in July 2010

Sunday, August 15, 2010
by Liz Warren

One of the very few remaining Alpenglade lots in Government Camp closed in July, 2010 for $230,000 cash. Lot sales have been few and far between with the slowing down of the real estate market. I am pleased to report that I was the marketing agent for this property.

 

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Mt. Hood Sales for July 2010 on Mt. Hood

Sunday, August 15, 2010
by Liz Warren

If you've kept up with recent reports you will find that the majority of sales for 2010 were pushed up to the first half of the year due to the first time home buyer's credit. Sales plummeted since that time. Buyers who may have bought later in the year pushed their plans forward leaving a 30% drop in sales for Jully.

Brightwood, Rhododendron, Welches and Government Camp saw three closed sales for residential properties for the month of July. Two of these homes were foreclosures. Here are the sales:

Mt. Hood sales for July 2010

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Multiple Listing Service Posts Mt. Hood Area Data for July 2010

Sunday, August 15, 2010
by Liz Warren

The Portland Metro RMLS data has been released for the Mt. Hood Area market place from Government Camp, Welches, Brightwood and Rhododendron. This compares numbers from 2009 to 2010. Here are the numbers:

Mt. Hood Sales for 2010

Total listings and inventory is increasing. Pending sales hit 45% less than 2009. Marketing times are increasing. For these three properties, despite the fact that they were foreclosures hit 232 days for a sale.

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Mt. Hood Creekfront Homes that are Kid and Pet Friendly

Tuesday, August 10, 2010
by Liz Warren

This is the perfect time to find a beautiful creekfront home in the Mt. Hood area. If you've been considering a waterfront getaway in Welches, Rhododendron, Brightwood or Government Camp, these are the creekfront single family homes that are available. These all should qualify for conventional loans to take advantage of the super interest rates currently offered. Here are the kid and pet friendly creek homes available:

Mt. Hood Creekfront Homes for sale

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Mt. Hood Riverfront Properties For Sale

Tuesday, August 10, 2010
by Liz Warren

Unique opportunity for Mt.Hood riverfront home buyers! There is an excellent selection available. We haven't seen this many choices in over a decade with many choices on the Salmon and Sandy Rivers. Prices are lower than we've ever seen before. These properties should all be bank financeable. Take a look at these great values. They many never be this low again so take advantage of today's rates and inventory. Here are the waterfront stars:

Mt. Hood Riverfront Homes for sale

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Purchase Before September 7th!

Tuesday, August 10, 2010
by Liz Warren

If your purchasing in the Mt. Hood area it's a good idea to buy before September 7th, if you are using an FHA loan. New rules are coming down the road which will actually increase your monthly payment potentially making it harder to qualify. The "idea" is that FHA is trying to reduce the upfront costs of getting buyers into loans by reducing the Up Front Mortgage Insurance Premium (UFMIP) from 2.25% to 1%. This can be financed into the loan at the back end so there is really no "upfront cost". Technically this reduces your monthly payment slightly.

Meanwhile back at the ranch the MMI- the Monthly Mortgage Insurance Premium is getting raised from .55% to .85%-.90% depending upon the loan to value of the loan. This means your monthly payment will go up and you will be paying more for the same loan thereby potentially not qualifying for as much loan as you did prior to September 7th. With this rise in payment it essentially means a decrease in the loan amount by 4-5% to get the same monthly payment (a lower purchase price so the loan amount is lower).

Why is HUD doing this? To cover their operating costs and to cover anticipated losses. As a buyer, there are pluses to having an FHA loan. The main benefit is when you decide to sell your home these loans are assumable if the new buyer qualifies. This is an attractive prospect if they, HUD, doesn't increase the interest rate for the assumption. They seem to change the rules as administrations come and go. I'm not sure if this is a locked in guarantee or not!

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Displaying blog entries 1341-1350 of 1850

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