Wednesday, July 27, 2011

Just Sold

I am excited to share that I have closed my second short sale! I am 2 for 2! They can be a long process and frustrating at times. I believe when working on a short sale it is SO important to have good communication with the negotiator. Throughout the whole process of both short sales, I had great email and phone contact with the negotiator which helped create a successful sale.

I took the listing in October. We recieved an offer mid May and closed July 22nd. The house was listed in Gladstone. Its a 3 bedroom home with 2 bathrooms. Great sized yard with a playstructure. The kitchen was great in this house and gave it a tuscan feel. I know that the buyers got a great deal and will love making this house their home!

Own A Piece Of Disney!

Walt Disneys former mansion is on the market in Los Angeles, Los Feliz, to be exact! It is currently listed for $3.65 million. It features 4 bedrooms, 5 bathrooms, and 6388 square feet. It was built in 1932. It would be fun to own a bit of Disney history!

Sunday, July 24, 2011

Pre Qualify or Pre Approval?

I get asked so frequently, "why should I get Pre approved or Pre qualified before looking at homes?" It is very important to do this before looking at homes! It's important for many reasons too! You want to make sure your qualified to make a purchase, to ensure your looking in the right price point, and also makes it so you are able to write an offer quickly! Nothing is worse then finding the PERFECT house and then taking the time to get qualified and before you know it, the house has been purchased by somebody else!

By Pre Qualifying your not only made aware of the general amount of money you will be able to borrow, you will also learn about your current financial situation as it relates to purchasing a home. You will also be given tips on how to improve or change your financial status, if needed, to better meet your home purchasing goals. Also included is an education about loan programs that you are qualified for and that will help meet those goals.

Pre approval is becoming conditionally approved for a specific home loan, prior to finding and making an offer. The dollar amount specified for approval is based on your personal level of comfort.

Documents that your loan officer will need at your first appointment include
-Income: One month of paystubs and 2 years of W2 forms and federal tax returns.

-Assets: Previous 2 months worth of savings, checking, and retirement account savings.

-Debits: Complete a list of credit debts displaying: creditors balance owed and monthly payments.

-Other: Divorce decrees, bankruptcy papers, and rental agreements.

Depending on your own personal situations the amount of documentation may be different. If your looking for a great loan officer to work with, call me today. I will help point you in the direction to make purchasing a home reality! Heather 503 975 3483

Friday, May 20, 2011

Price Reduced!

This is a great home located at 7347 Se Lamphier St in Milwaukie Or. This home was remodeled down to the studs in 2005. The home still has the original oak floors throughout. The kitchen features maple cabinets, granite counters, stainless steel appliances, and tile floors. The backyard is large with a great deck for entertaining. Please call with questions!

7347 Se Lamphier St
Milwaukie OR

Price $199,000

Good Neighbor Next Door Program

I took a class about HUD properties the other day and learned about this amazing program. This program is offered for teachers, police officers, and firefighters. This program is through HUD and it is called the Good Neighbor Next Door Program. GNND is a program run by HUD which offers eligible participants 50% off homes in community revitalization areas. The only commitment that is made, beyond signing for the loan documents, is living in the property for 36 months. The program is only eligible in the revitalization areas. Participants must qualify for the full amount before the 50% off and bidding on the properties is done by on online bidding process. For more information, click GNND

Make Your Home FHA Friendly!

Want to make your home appeal to all buyers? Knowing the basics of the FHA loan rules will help open up to buyers of all types. The Federal Housing Administration insures about 30% of todays mortgages. By passing the FHA rules, your opening the door to a 30% increase in potential buyers! FHA is a great option for buyers, especially first time home buyers, it allows for as little as 3.5% for a down payment.

Some things to keep in mind for the FHA buyer when selling your home.

* Know the FHA loan limits in your area. In Oregon, the FHA loan limites is $418,000

*Appraisals- This can be the tricky part of the FHA deal. An appraisal is different from a home inspection. The home inspection is optional. The home inspection is a general inspection looking at the shape the home is at that given time. They look to make sure the systems are in good working order and they will point out areas that may be a problem or a major problem area. The appraisal is a lender requirement. The appraiser will come out and look at condition and the comparable properties. They do this to ensure value in the property and make sure that health and safety issues are resolved prior to transfer of ownership. The appraiser will be sent by the lender to look at the property. The appraiser can condition repairs to be completed. The repairs that the appraiser conditions, have to be fixed prior to the close of a property. So, if you place your house on the market, its a good idea to do a pre listing inspection. Catch a potential problem before it arises. If an appraiser conditions repairs, they will require that upon the completion of the repairs a reinspect from the appraiser to be done to verify they were done to satisfaction.

*Closing Costs- Most buyers request some help with closing costs. FHA allows up to 6% (sales price) towards closing costs from the seller.

FHA has a whole bunch of rules relating to condos as well.  In a tight market, its best to make sure that we can expose our property to as many people as possible. Check with your real estate agent to get suggestions as to how to make your home available to buyers of all types.

Monday, April 25, 2011

New Listing

Property Address
21618 Ella Ln

Beautiful new listing in Fairview offers a custom layout with great amenities! This home is ADA accessible, wide doors and hallways!  Main Level Living. 3 Bedrooms and 3 bath with mudroom and laundry room with built ins. Bamboo floors throughout. Gourmet kitchen with energy star appliances, large pantry, and granite counter tops. Great backyard for entertaining! Call me today for a private tour!