Portland Real Estate Cafe Blog

Mortgage rates for the Portland area have dropped to 3.875% in the past few days, presenting an amazing time to buy and save money.  Rates for a 15 year fixed mortgage are at 3.25%!  

We have no idea how long this opportunity will last.  Inflation is a concern and many pundits believe rates will have to rise in the near future.  

Financing $250,000 at 3.875% gives you a monthly paymnet of $1,176 P+I.   

Financing $250,000 at 5% gives you a monthly payment of $1,342 P+I.  

That's $166 per month savings.  $1992 per year.  $59,760 in savings over the term of the loan. 

Another way to look at these great rates is what your monthly payment gets you in home value.

A house payment of $1,176 per month, essentially gets you a $250,000…

We thought we would create a regular series about properties that our team has seen that we think are NICE.  By flagging these properties as "cool" we are not making any judgement about the list price or the value.  We just think they're inspired. Most of these "cool properties" are not our listings. If you see one you like, we'd love to show it to you, and represent your interests if you decide you just gotta have it.

To see the details of any of these listings, simply click the picture of the home you like.

This month's reports from S&P and PMI both suggest that sellers could increase their net proceeds by bringing their home to market now instead of waiting for conditions to improve.  Earlier this month when looking at the Portland Market Report, we observed increasing sales velocity and balanced levels of inventory in many neighborhood.  We are advising many of our sellers to get their homes ready for market now instead of waiting until later in the Spring or early summer.

Eleven MSAs in S&P's 20 city composite are reporting new lows.  Portland is one of these eleven markets. The 20 city composite is now withing 2% of the March '09 trough.  If the current trend continues, the housing market will enter into a "double-dip recession."

In this month's PMI…

The volatility of the stock market recently has many of us watching our retirement savings dwindle.  Until we see some positive news, the stock market will continue to see some majors ups and downs.  Many of us feel like we have no real control of our money that is invested in IRA’s, 401Ks and other retirement savings accounts.  Take control of your investments.

An interesting, and mostly overlooked, vehicle is the use of a Self-Directed IRA to purchase real estate.   Roll over your stagnate or declining accounts over to a custodian that allows you to invest in more than the institutional stocks and mutual funds.  Control you own future, by making investments into real property that will produce income and appreciate over time.

The current Portland real…

What is a Self-Directed IRA?

A self-directed IRA is really not that different from any other IRA. The term “self-directed” simply indicates that you choose your IRA’s investments. Most investment brokerages and banks that offer “self-directed” IRAs limit clients to the scope of their own investment products. Custodians without proprietary products do not need to impose the same restrictions. This means you have more choices and greater flexibility for your retirement savings plan.

What can a Self-Directed IRA invest in?

Almost anything making for virtually unlimited array of possible investment choices that are allowed.

The IRS only defines the following assets as excluded:

• Life insurance contracts (e.g., a life insurance policy on the life of the…

We just finshed reviewing the final Portland real estate sales stats for February 2011 and want to share the following highlights:

North Portland.  Very little change from January.  This area has stabalized in a fairly balanced market.  Inventory is flat, properties priced to sell are moving in approximately 2 months.  Price per sq. foot stats are down $17/sf, caused by no sales over the last 90 days above $500K.

Northeast Portland.  Positive trends in pending sales which increased by 34 units, cleariong some of the aged inventory from the market.  This indicates that the time good for sellers to bring their NE Portland homes to market, and for investors to purchase into the positive momentum.

Southeast Portland.  New Sales increased 43 units,…

For a little real estate humor, check out these recent typos and bloopers.  Either these Realtors are typing too fast or just don't have a clue!

• Cozy worm bungalow 
• Toilet leaks – be sure clients don’t slirp
• Professionally designed screeming room
• Include Short Sale Addendumb
• Kitchen with drinks bar and custom pot
• Library has exposed beans, books
• Bust buy in the area
• For more dretails, call me to get massage
• Your buyers will lick the tenants
• Security with motion detector spit lights
• EZ access to fleeway
• Dank room for fotos remolded and espanded
• House has two car garbage

As we approach spring, take note of storm and water damage to your home.  Most houses sustain at least a few problems during the winter months. Make the repairs now, before starting on any remodeling or other major warm-weather projects.

Check for damage to your roof

Signs include missing, curling, broken or cracked shingles. Pooling or ponds of water that fail to drain from flat roofs may indicate low areas and inadequate drainage. Moss growth can also cause damage to shingles.

Serious roof leaks are not caused by missing or damaged shingles, but rather by broken or improperly installed roof flashing. Repair or replace it, as needed.

Clear gutters & downspouts.

Water damage often comes from clogged gutters…

Deceiving beauty and value. MUST SEE BACKYARD ... sanctuary with a separate sport court. Every room is generous with finishing detail. Special hardwoods, vaulted ceilings, slate in remodeled kitchen, game room, sauna, hot tub. Great for entertaining and enjoying life. 

3 Bedroom 2.5 Bath 3059 Sqft 

Taxes $5239 per year 

Address:  14308 SW STALLION DR , Beaverton, Oregon 97008

List price $319,500. 

For more details and photos see Sorrento Ridge Traditional

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