Archive for the Getting a Mortgage Category
"The Heat is ON!!" - Glenn Frey Our housing market has enjoyed the benefits of historically LOW, LOW rates for quite some time now. And, complacency can be the enemy of building wealth. This morning we've seen the largest swing in mortgage interest ra… Read More
“What We Got Here is Failure to Communicate”! Portland’s Sellers Market–Is It Time to Consider a Move???
"Cool Hand Luke" Our recovering Portland Metro real estate market is still a bit tentative and I totally understand!!! We are slowly emerging from 4-5 years (according to when you feel our recent real estate bust began and ended) of plunging property values, "underwater" mortgages and an uncertain economy!! Now increased faith in our overall economic status + historically low interest rates + diminished housing prices are luring buyers back into the marketplace at a more rapid pace than sellers are preparing for market. So, as the warden in "Cool Hand Luke" said to Paul Newman "what… Read More
A Medley of Songs About Spring APRIL 2013 PORTLAND METRO REAL ESTATE UPDATE! As another "Spring has Sprung", we continue to enjoy a "contingent real estate recovery" in the Portland Metropolitan area! So, why with all the recent relatively good news in the economy, the stock market and in real estate do I use the term "contingent". Well, more to come in this post on that. Both accepted offers and closed sales earned a "Best March since 2007" award (and, remember I've often mentioned that according to our Regional Multiple Listing stats, March 2007 was the height of our … Read More
"Always Getting What You Want" - Circa Survive The following article was written by Evan Swanson of Mortgage Trust and reprinted with permission. I think this pretty much "sums it up" in my book and is a well-written explanation of the expectations of lenders. Of course, I'm now finding that the condition of the property (which is part of "collateral" below) is very important to the lending process and has been a sticking point in recent transactions (even after buyer and seller have agreed). Problems with appraisals (value and repairs) continue to plague us. The Four "C"s of quali… Read More