How to Decide if You Should Remodel Your Mt Hood Home or Move
From birthdays and anniversaries to graduations and weddings, your home has seen many great days. But, you also may find yourself making repairs more often, and you could begin to get the feeling you need a change. This change can come by remodeling your Mt Hood home whether in Brightwood, Rhododendron, Welches or Government Camp or selling it. Before you make a decision, consider a few very important factors.
• What does remodel mean to you? — If your idea of a remodel is as simple as replacing flooring and adding fresh paint, that should be an easy fix. But if a complete demolition job is involved, you'll probably save yourself money and a lot of headaches by buying a new home.
• Factor in finances – Whether you plan to remodel your Mt Hood home or move, money is involved. Figure out if it financially makes more sense to make updates to your current home or move into a new already updated home. You'd be surprised how quickly renovation costs can add up, so keep that in mind. Expect the unexpected!
• Assess your neighborhood – Do you still recognize the area you once knew? Are your neighbors still "neighborly?" An important point to consider is whether or not the neighborhood still has value. You want to make sure it is well kept and safe. If not, selling could be the answer. You also don't want to price yourself out of the neighborhood. If updating your home would make it the highest valued home in the neighborhood, you'd be better off moving into a neighborhood where you can purchase one of the lowest valued homes.
• What about the children? Most times, when kids practically grow up in a home, many strong friendships are made. Think about how moving can affect your kids. Starting over in a new neighborhood and a new school can be life changing for children. In this case, remodeling your home could be the better option.
Bottom line, when trying to figure out if you should remodel you home on Mt. Hood or sell, take your time. You should exhaust every possibility to ensure you make the right choice for you and your family.
Remodel:
www.bobvila.com
Renovation costs:
www.trustyguides.com/home-renovation1.html
Moving can affect kids
www.tlcinst.org/Moving.html
Sunday, May 31, 2009
Friday, May 29, 2009
$8,000 Tax Credit for First Time Home Buyer's and Immediately accessing the credit for downpayment and Closing Costs.
The following is posted directly from Us Department of Housing and Urban Development's Web Site.
"DONOVAN ANNOUNCES RECOVERY ACT'S HOMEBUYER TAX CREDIT CAN IMMEDIATELY HELP THOUSANDS OF FIRST-TIME HOMEBUYERS TO BUY A HOME
FHA plan will stimulate new home sales and help stabilize housing market
WASHINGTON - Speaking to the National Association of Home Builders Spring Board of Directors Meeting, U.S. Housing and Urban Development Secretary Shaun Donovan today announced that the Federal Housing Administration (FHA) will allow homebuyers to apply the Obama Administration's new $8,000 first-time homebuyer tax credit toward the purchase costs of a FHA-insured home. Donovan said that today's action will help stabilize the nation's housing market by stimulating home sales across the country.
The American Recovery and Reinvestment Act of 2009 offers homebuyers a tax credit of up to $8,000 for purchasing their first home. Families can only access this credit after filing their tax returns with the IRS. Today's announcement details FHA's rules allowing state Housing Finance Agencies and certain non-profits to 'monetize" up to the full amount of the tax credit (depending on the amount of the mortgage) so that borrowers can immediately apply the funds toward their down payments. Home buyers using FHA-approved lenders can apply the tax credit to their down payment in excess of 3.5 percent of appraised value or their closing costs, which can help achieve a lower interest rate. To read the FHA's new mortgagee letter, visit HUD's website.
"We believe this is a real win for everyone," said Donovan. "Today, the Obama Administration is taking another important step toward accelerating the recovery of the nation's housing market. Families will now be able to apply their anticipated tax credit toward their home purchase right away. At the same time we are putting safeguards in place to ensure that consumers will be protected from unscrupulous lenders. What we're doing today will not only help these families to purchase their first home but will present an enormous benefit for communities struggling to deal with an oversupply of housing."
Currently, borrowers applying for an FHA-insured mortgage are required to make a minimum 3.5 percent downpayment on the purchase of their home. Current law does not permit approved lenders to monetize the tax credit to meet the required 3.5 percent minimum down payment, but, under the terms of today's announcement, lenders can now monetize the tax credit for use as additional down payment, or for other closing costs, which can help achieve a lower interest rate. Buyers financing through state Housing Finance Agencies and certain non-profits will be able to use the tax credit for their downpayments via secondary financing provided by the HFA or non-profit. In addition to the borrower's own cash investment, FHA allows parents, employers and other governmental entities to contribute towards the downpayment. Today's action permits the first-time homebuyer's anticipated tax credit under the Recovery Act to be applied toward the family's home purchase right away. Unlike seller-funded down-payment assistance, which was a vehicle for abuse, this program will allow homebuyers to shop for the best home price and services using their anticipated tax credit.
According to estimates by the National Association of Home Builders, the Administration's homebuyer tax credit will stimulate 160,000 home sales across the nation - 101,000 of which will be first-time buyers who will receive the credit. Another 59,000 existing homeowners will be able to buy another home because a first-time buyer purchased their home. Given FHA's current market share, it's estimated that thousands of families will be able to purchase a home by allowing the anticipated tax credit to be applied toward their purchase together with an FHA-insured mortgage.
Homebuyers should beware of mortgage scams and carefully compare benefits and costs when seeking out tax credit monetization services. Programs will vary from organization to organization and borrowers should consider whether the services make sense for them, as well as what company offers the most suitable and affordable option.
For every FHA borrower who is assisted through the tax credit program, FHA will collect the name and employer identification number of the organization providing the service as well as associated fees and charges. FHA will use this information to track the business closely and will refer any questionable practices to the appropriate regulatory agencies, as necessary.
###
HUD is the nation's housing agency committed to sustaining homeownership; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development and enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet at www.hud.gov and espanol.hud.gov."
Are you a first-time buyer?
You have just made a fabulous decision for your future. There are tons of great buys in the Mt Hood Real Estate market in the towns of Brightwood ,Welches, Rhododendron or Government Camp. I'm a specialist in the Mt Hood Corridor communities and would love to help you buy the home of your dreams. Call me now at 503-706-7101 or email me at blythe@servingmthood.com.
New Ruling From Secretary Donovan:
portal.hud.gov/portal/page?_pageid=153,8026931&_dad=portal&_schema=PORTAL
Hud Web Site:
www.hud.gov/
The following is posted directly from Us Department of Housing and Urban Development's Web Site.
"DONOVAN ANNOUNCES RECOVERY ACT'S HOMEBUYER TAX CREDIT CAN IMMEDIATELY HELP THOUSANDS OF FIRST-TIME HOMEBUYERS TO BUY A HOME
FHA plan will stimulate new home sales and help stabilize housing market
WASHINGTON - Speaking to the National Association of Home Builders Spring Board of Directors Meeting, U.S. Housing and Urban Development Secretary Shaun Donovan today announced that the Federal Housing Administration (FHA) will allow homebuyers to apply the Obama Administration's new $8,000 first-time homebuyer tax credit toward the purchase costs of a FHA-insured home. Donovan said that today's action will help stabilize the nation's housing market by stimulating home sales across the country.
The American Recovery and Reinvestment Act of 2009 offers homebuyers a tax credit of up to $8,000 for purchasing their first home. Families can only access this credit after filing their tax returns with the IRS. Today's announcement details FHA's rules allowing state Housing Finance Agencies and certain non-profits to 'monetize" up to the full amount of the tax credit (depending on the amount of the mortgage) so that borrowers can immediately apply the funds toward their down payments. Home buyers using FHA-approved lenders can apply the tax credit to their down payment in excess of 3.5 percent of appraised value or their closing costs, which can help achieve a lower interest rate. To read the FHA's new mortgagee letter, visit HUD's website.
"We believe this is a real win for everyone," said Donovan. "Today, the Obama Administration is taking another important step toward accelerating the recovery of the nation's housing market. Families will now be able to apply their anticipated tax credit toward their home purchase right away. At the same time we are putting safeguards in place to ensure that consumers will be protected from unscrupulous lenders. What we're doing today will not only help these families to purchase their first home but will present an enormous benefit for communities struggling to deal with an oversupply of housing."
Currently, borrowers applying for an FHA-insured mortgage are required to make a minimum 3.5 percent downpayment on the purchase of their home. Current law does not permit approved lenders to monetize the tax credit to meet the required 3.5 percent minimum down payment, but, under the terms of today's announcement, lenders can now monetize the tax credit for use as additional down payment, or for other closing costs, which can help achieve a lower interest rate. Buyers financing through state Housing Finance Agencies and certain non-profits will be able to use the tax credit for their downpayments via secondary financing provided by the HFA or non-profit. In addition to the borrower's own cash investment, FHA allows parents, employers and other governmental entities to contribute towards the downpayment. Today's action permits the first-time homebuyer's anticipated tax credit under the Recovery Act to be applied toward the family's home purchase right away. Unlike seller-funded down-payment assistance, which was a vehicle for abuse, this program will allow homebuyers to shop for the best home price and services using their anticipated tax credit.
According to estimates by the National Association of Home Builders, the Administration's homebuyer tax credit will stimulate 160,000 home sales across the nation - 101,000 of which will be first-time buyers who will receive the credit. Another 59,000 existing homeowners will be able to buy another home because a first-time buyer purchased their home. Given FHA's current market share, it's estimated that thousands of families will be able to purchase a home by allowing the anticipated tax credit to be applied toward their purchase together with an FHA-insured mortgage.
Homebuyers should beware of mortgage scams and carefully compare benefits and costs when seeking out tax credit monetization services. Programs will vary from organization to organization and borrowers should consider whether the services make sense for them, as well as what company offers the most suitable and affordable option.
For every FHA borrower who is assisted through the tax credit program, FHA will collect the name and employer identification number of the organization providing the service as well as associated fees and charges. FHA will use this information to track the business closely and will refer any questionable practices to the appropriate regulatory agencies, as necessary.
###
HUD is the nation's housing agency committed to sustaining homeownership; creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development and enforces the nation's fair housing laws. More information about HUD and its programs is available on the Internet at www.hud.gov and espanol.hud.gov."
Are you a first-time buyer?
You have just made a fabulous decision for your future. There are tons of great buys in the Mt Hood Real Estate market in the towns of Brightwood ,Welches, Rhododendron or Government Camp. I'm a specialist in the Mt Hood Corridor communities and would love to help you buy the home of your dreams. Call me now at 503-706-7101 or email me at blythe@servingmthood.com.
New Ruling From Secretary Donovan:
portal.hud.gov/portal/page?_pageid=153,8026931&_dad=portal&_schema=PORTAL
Hud Web Site:
www.hud.gov/
Saturday, May 23, 2009
Tuesday, May 19, 2009
Great Cabin on the Mt Hood National Forest. Zig Zag River site. A lot of updates in the past 20 years!!! Cozy up by the fireplace in the winter. Sleeping area downstairs, Lotf and bedroom upstairs. Separate dining area. Metal roof. Located in Tract of Forest Service Cabins in Government Camp Oregon. Fully furnished. $179,900
Check out the full single property web site at
78419eroad35lot109.ePropertySites.com
Knotty Pine Interior. Located in Rhododendron, Oregon. Kitchen has Tile countertops Not in a Homeowner's association. Perfect getaway on private land. 2nd Bedroom is a sleeping loft. Fully Furnished. Minutes to Mt Hood Outdoor recreation activities during the summer or winter months. $179,900
Check Out the Single property Website at http://71320ethimbleberryst.ePropertySites.com
Prepare Before Buying to Get the Best Deals for
Mt Hood Real Estate.
You’ve finally decided you want to buy a piece of real estate in Brightwood, Welches, Rhododendron or Government Camp Oregon. What do you do now? Here are a few tips for getting the best deal for your money:
Check Out Your Credit
Remember, everything is credit driven. That means your interest rate on your new home loan. The first thing you’ll want to do is order a copy of your credit report from the three major credit bureaus: Experian, TransUnion, and Equifax. Look for inaccuracies in:
• Name
• Address
• Creditors
• Late payments
• Delinquencies
After you’ve reviewed your credit report and know your credit score, you’re ready to make improvements to your report, if your credit score is too low. Send a written “Notice of Correction” to the credit bureaus. It can be up to 200 words. If needed, you can explain why you fell behind on a particular debt, and every time a lender accesses the report, they’ll see your explanation.
It can take several months to for your credit score to go up. However, it's well worth the effort to get a better interest rate. It can save you thousands on your real estate purchase in the Mt Hood Corridor.
Get Pre-approved
Before you start looking at properties, it’s a good idea to get a pre-approval letter from a lender. The lender takes into consideration your income and credit history. Then the lender determines the loan amount for which you qualify.
Most pre-approval letters list the maximum amount for which you are approved, not necessarily the amount you can afford. Look carefully at your budget so that you don’t get too excited about the number and get into more house than you can afford.
There are several benefits to getting pre-approved. It allows you and your Mt Hood real estate agent to narrow down the house search. That way you won't waste time seeing properties you can’t afford. Also, sellers will give your bid more weight if you're pre-approved.
Are you a first-time buyer?
You have just made a fabulous decision for your future. There are tons of great buys in the Mt Hood Real Estate market in the towns of Brightwood Welches, Rhododendron or Government Camp. I'm a specialist in the Mt Hood Corridor communities and would love to help you buy the home of your dreams. Call me now at 503-706-7101 or email me at blythe@servingmthood.com.
Credit report:
www.annualcreditreport.com/cra/index.jsp
Pre-approval:
loanlane.com/preapprove.php
Budget:
financialplan.about.com/od/budgetingyourmoney/Budgeting.htm
Thursday, May 14, 2009
3 Things to Avoid When Preparing to Purchase Real Estate
If you are thinking about buying real estate in the near future and need loan to acquire the property, there are three activities you should avoid. These are normal things we all do from time to time, but are unwise when contemplating a new mortgage application.
If you are thinking about buying real estate in the near future and need loan to acquire the property, there are three activities you should avoid. These are normal things we all do from time to time, but are unwise when contemplating a new mortgage application.
- Change careers: This is different than just changing jobs. If you have recently gotten a new job in the same field, at the same or better pay, and your past history shows long, solid employment, all should be fine. Changing careers entirely is more of an issue. You have no history of steady employment and income in the new field. Since you're new to the field, you may be bringing in less income than in your previous career. That's why a recent career change makes your mortgage application less appealing to a loan officer due to difficulity with underwriting the loan.
- Open new bank accounts: When you apply for a loan for real estate on Mt Hood you need to provide bank statements for several months. Although your money is still in your possession, moving it to new bank accounts generates a series of big withdrawals and deposits which gives an image of instability. If you have withdrawn large amounts of money and not redeposited the funds, that looks even worse. Even if you invested the money in something solid, you no longer have the cash and thus appear less solvent.
- Buy Big Ticket Items: The reason for this is simple. When reviewing a loan application for real estate one of the biggest things a lender takes into consideration is your debt-to-income ratio. Purchasing expensive items on credit can negatively impact your debt-to-income ratio. Wait until after you've closed on your home to buy new furniture or appliances.
Thinking of buying a home? Remember Interest rates are credit driven. Protect your credit score. I can help you get financing and buy the home of your dreams. Give me a call today at 503-706-7101 or email me at blythe@servingmthood.com.
loan officer:
en.wikipedia.org/wiki/Loan_officer
debt to income ratio:
www.lendingtree.com/mortgage-loans/advice/qualifying-for-a-loan/calculating-debt-to-income
Saturday, May 9, 2009
Information to Have On Hand When Selling Your Real Estate on Mt Hood
Selling your property, whether it is a primary home or income property, is easier if you have the information your buyers are likely to want to know on hand.
Type up an info sheet answering the most commonly asked questions buyers have when looking at real estate for sale in Welches, Rhododendron, Brightwood and Government Camp.
Questions such as:
• How old is the roof?
• Has the roof ever leaked?
• Have you had a recent Appraisal?
• Have you had a home inspection in the last three years?• What improvements were done and when?
• What comes with the property? Window treatments? Do all of the appliances come with the property?
• How old are the appliances?• Is there water in the crawlspace?• Has the basement ever leaked?
• Where are the hot water heater, the electrical service panel, and other important maintenance items located? Are they easy to access?
• What kind of Heating System do you have and has it recently been serviced?
• Are the roads plowed in Winter?• What is the age and condition of the plumbing and wiring?
• Are there schools nearby?
• What is the average utility cost per month/year?
• Have you had any major problems in the past? Your normal seller's disclosure does not require you to list problems you had and have fixed. Some buyers would like to know what those problems were. It can give them an idea if they are likely to be a recurring problem (like flood damage) or if the fact that you already had the issue and fixed it they will not likely have to deal with that particular problem in the future.
Of course, you should always have the general information about your Mountain real estate available such as square footage of the building, property size, zoning and any restrictions or easements.
Having all of the information on hand will prove to potential buyers that you're serious, that you're prepared to be upfront with them about any issues your home may have, and that you've taken excellent care of your home
Thinking of selling your home? I specialize in selling homes in the Mt Hood Corridor between Sandy, Oregon and Government Camp, Oregon. Find out more by calling me today at 503-706-7101 or emailing me at blythe@servingmthood.com.
Income property:
www.investorwords.com/2405/income_property.html
Electrical service panel:
homerepair.about.com/od/electricalrepair/ss/anat_elec_pnl.htm
Seller's disclosure:
homebuying.about.com/od/homedisclosures/qt/Req2Disclose.htm
Selling your property, whether it is a primary home or income property, is easier if you have the information your buyers are likely to want to know on hand.
Type up an info sheet answering the most commonly asked questions buyers have when looking at real estate for sale in Welches, Rhododendron, Brightwood and Government Camp.
Questions such as:
• How old is the roof?
• Has the roof ever leaked?
• Have you had a recent Appraisal?
• Have you had a home inspection in the last three years?• What improvements were done and when?
• What comes with the property? Window treatments? Do all of the appliances come with the property?
• How old are the appliances?• Is there water in the crawlspace?• Has the basement ever leaked?
• Where are the hot water heater, the electrical service panel, and other important maintenance items located? Are they easy to access?
• What kind of Heating System do you have and has it recently been serviced?
• Are the roads plowed in Winter?• What is the age and condition of the plumbing and wiring?
• Are there schools nearby?
• What is the average utility cost per month/year?
• Have you had any major problems in the past? Your normal seller's disclosure does not require you to list problems you had and have fixed. Some buyers would like to know what those problems were. It can give them an idea if they are likely to be a recurring problem (like flood damage) or if the fact that you already had the issue and fixed it they will not likely have to deal with that particular problem in the future.
Of course, you should always have the general information about your Mountain real estate available such as square footage of the building, property size, zoning and any restrictions or easements.
Having all of the information on hand will prove to potential buyers that you're serious, that you're prepared to be upfront with them about any issues your home may have, and that you've taken excellent care of your home
Thinking of selling your home? I specialize in selling homes in the Mt Hood Corridor between Sandy, Oregon and Government Camp, Oregon. Find out more by calling me today at 503-706-7101 or emailing me at blythe@servingmthood.com.
Income property:
www.investorwords.com/2405/income_property.html
Electrical service panel:
homerepair.about.com/od/electricalrepair/ss/anat_elec_pnl.htm
Seller's disclosure:
homebuying.about.com/od/homedisclosures/qt/Req2Disclose.htm
Monday, May 4, 2009
How Can Obama's Housing Plan for Mt Hood Real Estate Help You?
The housing plan included in President Obama's stimulus package has many good qualities that will help those seeking real estate in the Mt Hood Corridor, west of Government Camp, Oregon.
There are two main points to the housing plan:
1. To help people once again obtain reasonable mortgages to afford the home of their dreams.
2. To keep people in the homes they already have. If it works the way it is planned, it is reason for a collective sigh of relief for millions of homeowners feeling threatened by foreclosures.
That's really it in a nutshell. There are many incentives wrapped up in each of those two areas to help both homeowners and prospective home buyers, but the very impetus behind the stimulus housing package is simple.
For Current Homeowners
If you have a current mortgage that you can't handle, now is the time to talk to your mortgage company. Don't wait too long because some of the detailed elements of Obama's housing plan are meant to be short-term in their offer so as not to over-tax the budget. While you have the chance, see if your mortgage can be reduced to reflect current home values. That can provide you with the equity you would have already built up but lost due to a drop in housing values. It will also lower your monthly mortgage to a manageable level.
For New Home Buyers
This is your market now. The real estate prices in the Mt Hood corridor between Sandy, Oregon and Rhododendron, Oregon are much lower which gives you a chance to buy a home you might not have been able to afford before. President Obama's housing plan provides tax incentives for you. However, just like with current homeowners, the time to do this is now. Because of the stimulus to the Mt Hood Real Estate Market, housing values are not going to stay as low as they currently are. Also, many of the incentives like the tax credits are valid for a very limited time.
If you’re ready to take advantage of the stimulus package benefits by buying a home, I can help. Call me now at 503-706-7101or email me at blythe@servingmthood.com.
homeowners feeling threatened by foreclosures: www.lvrj.com/business/40917822.html
stimulus housing package: www.recovery.gov/
tax credits: www.federalhousingtaxcredit.com/
The housing plan included in President Obama's stimulus package has many good qualities that will help those seeking real estate in the Mt Hood Corridor, west of Government Camp, Oregon.
There are two main points to the housing plan:
1. To help people once again obtain reasonable mortgages to afford the home of their dreams.
2. To keep people in the homes they already have. If it works the way it is planned, it is reason for a collective sigh of relief for millions of homeowners feeling threatened by foreclosures.
That's really it in a nutshell. There are many incentives wrapped up in each of those two areas to help both homeowners and prospective home buyers, but the very impetus behind the stimulus housing package is simple.
For Current Homeowners
If you have a current mortgage that you can't handle, now is the time to talk to your mortgage company. Don't wait too long because some of the detailed elements of Obama's housing plan are meant to be short-term in their offer so as not to over-tax the budget. While you have the chance, see if your mortgage can be reduced to reflect current home values. That can provide you with the equity you would have already built up but lost due to a drop in housing values. It will also lower your monthly mortgage to a manageable level.
For New Home Buyers
This is your market now. The real estate prices in the Mt Hood corridor between Sandy, Oregon and Rhododendron, Oregon are much lower which gives you a chance to buy a home you might not have been able to afford before. President Obama's housing plan provides tax incentives for you. However, just like with current homeowners, the time to do this is now. Because of the stimulus to the Mt Hood Real Estate Market, housing values are not going to stay as low as they currently are. Also, many of the incentives like the tax credits are valid for a very limited time.
If you’re ready to take advantage of the stimulus package benefits by buying a home, I can help. Call me now at 503-706-7101or email me at blythe@servingmthood.com.
homeowners feeling threatened by foreclosures: www.lvrj.com/business/40917822.html
stimulus housing package: www.recovery.gov/
tax credits: www.federalhousingtaxcredit.com/
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