Archive for August, 2011

Times A-Wasting! FHA Mortgage Insurance Changes on June 3rd, 2013!!!

May23
"Times A Wasting" from the movie "Walk the Line" FHA (Federal Housing Administration) mortgage loans have been around since 1934.  It was established after the "Great Depression" to increase home production and lower unemployment!  The FHA-insured loans are often a boon for first-time buyers as they allow more lenient credit ratios and you can get a mortgage with as little as a 3.5% down-payment!!!  FHA doesn't actually loan money but, rather, insures the mortgage lender.  Like most mortgage programs, they require MIP (a mortgage insurance premium) if you put less than a 20% down-paym… Read More

Annual Percentage Rate (APR) vs Interest rate in Home Loans!!

May21
Faron Young - Play Now Pay Later APR versus interest rate: The advertised rate is the one used to calculate your mortgage payment. Borrow $100,000 at 5% with a 30-year term, and the payment is $537. But an advertised rate tells you nothing about the cost of the loan or if it’s a good deal. Suppose you’re offered two loans. Both have a 5% rate, but one costs $1,000 and the other costs $4,000. They’re obviously not the same! What is APR? The annual percentage rate (APR) on a loan includes some of the costs involved in procuring the loan and is meant to provide the consumer w… Read More

May 2013 Portland Metro Real Estate Update!

May15
"Crazy" - Patsy Cline MAY 2013 PORTLAND METRO REAL ESTATE UPDATE!   This real estate market is crazy and “crazy-making” right now!!  It is most definitely a sellers’ market (if you are prepared for market:  location, price, condition).  It is a strong and active market with the biggest obstacle being lack of inventory!!  The average sales price so far this year was up 15.3% from the same period in 2012!  Yep, that’s right!  Accepted offers have increased, closed sales have increased and our existing inventory of homes in months is down to 3.1 months!!!  Yahoo New… Read More

Selling Homes…It’s All in the Preparation! And, the “Devil is in the Details”!!

May14
"Friend of the Devil" - Counting Crows The Portland, Oregon real estate market has definitely proved itself as "recovering".  And, was recently listed by Yahoo News as #4 of one of the 11 US cities having the best recoveries!  So, what does this mean for sellers?  It means the secret to selling your property still remains the same:  location, price and condition!!!  But, it's a "sellers' market"...you might say?  Yes, I think the general consensus is that it is definitely a sellers' market in the greater Portland Metro area but that doesn't preclude common sense. Location:  you … Read More
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