June 2014 Portland Metro Real Estate Update!!

June20
a compilation of summer songs Summer solstice is upon us and we have been enjoying summer-like weather rather early this year! And, our local real estate market continues to see seasonal gains. The average sales price is now $327,200, which is up 9.1% from the same time in 2013 when the average was $299,900. But, overall we are seeing a slight cooling compared to 2013. Pending sales and closed sales are down 2.7%. Our inventory in months is again (same as last month) at 2.8 months of existing inventory. But, that is really, really low!! All in all, I saw the last month offer a little repr… Read More

What is Escrow? Understanding the Escrow Process!

June14
"Don't Worry, Be Happy" - Bobby McFerrin An escrow is an arrangement in which a neutral third party (the escrow agent) assembles and processes many of the components of a real estate transaction, record the trisection and ultimately, disburses and distributes the funds according the buyers', seller' and lender' instructions.  Your traction is typically closed by an Escrow Officer.  People buying and selling real estate usually open an escrow for their protection and convenience.  Both the buyer and seller rely on the escrow agent to carry to their written instructions relating to the t… Read More

What is Title Insurance?

June6
Led Zeppelin - What is and What Should Never Be Whether you are a buyer or a seller, attempting to clarify and/or compare your closing costs can be a challenge!  Many times I am asked "exactly what is title insurance and what does it do for me"???  As a seller, it can be a relatively large line item (following your loan pay-off and Realtor fees) and as a buyer it can be a smaller (albeit still a component) of your over-all closing costs. Title is a bundle of rights in real property.  Protecting purchasers and lenders against loss is accomplished by the issuance of a title insurance … Read More

Have a Low Down-Payment for a new Home? Paying Mortgage Insurance vs FHA Loans!

May28
Private Eyes - Hall & Oates FHA or Federal Housing Administration insured loans are a government program backed by taxpayers.  PMI or Private Mortgage Insurance is the private sector alternative to FHA.  Both programs make it possible for people to buy homes with less than a 20% down payment. If you have a credit score of 620 or above or have more than a 5% down payment, PMI generally has lower premiums than FHA.  Also, with an FHA insured loan, you must pay the upfront costs for the life of the loan.  With PMI, some forms of this loan mortgage insurance will allow the borrower… Read More

SOLD! Easy Living at “On the Green” Condos w/Lush, Green Grounds + Excellent Community Amenities! 10175 SW Trapper Terrace, Beaverton. $159,000. ML#14474996

May17
  10175 SW TRAPPER TERRACE at "On the Green" Condominiums! $159,000 3-BR, 2-Full Baths or 2-BR + 15' x 22' light & bright loft area Approx 1440 sf of living space + 98sf of private deck Great room living area w/laminate floors and fireplac… Read More