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How Interest Rates Could Be Affecting Your Home Search

by Mark Rieger, Mark Rieger Realty

Happy Spring!

I'm sure most of you have noticed that interest rates are on the rise. Have you asked yourself lately how the rise in interest rates might be affecting your home search? When rates rise, affordability goes down. Inventory levels also remain low and there are a lot of buyers out shopping right now. Are you ready?

Below I have attached a link to a March 2018 article in Realtor Magazine that will help enlighten you. More interest rate hikes are expected for 2018. If after reading this article you or someone you know is ready to kick your home search into a faster motion, contact me right away. I'm here to help! Let me know if you have any questions.

Click Here To Read The Article In Realtor Magazine

Fixer upper, or not?

by Mark Rieger, Mark Rieger Realty

If you’ve ever day dreamed about fixing up a property and turning it into you dream home, it might be time to consider purchasing a “fixer-upper.” Perhaps you’ve wondered if doing it is a good idea or not? Let me know if you want to discuss this possibility. It's certainly not for everyone.  But for some, this can be a dream come true!

Great Deal

Reason one is that most run-down homes, in need of renovation are great deals. While most people look at them and say, it’s not worth the work, you’re different. If you’re willing to put the work in, and the time and money, you could stand to get a great deal on a property in need of a little love.

Just for You

If you’ve ever wanted to create a living space just for you, then fixing up a home is right up your alley. If you would ideally like to have everything done to your taste, but can’t afford to build a home from the ground up, it can be a better idea to renovate a home. While building a home costs much more than the purchase of a home, buying a fixer upper and adding in a renovation budget, often costs much less. It can also take far less time, and stress.

The other added benefit in making an out of date, run down or just older home, completely yours, is that you’re not starting from scratch. Rather than building a new home, you get to redesign an existing one. You get to choose how to preserve the character or history of the existing fixer upper. You never know what you’re going to find behind the drywall, perhaps original brick? Maybe you’ll find old wooden doors, that just need a little TLC before being incorporated back into the design of the home.

Be realistic

It’s important to set realistic goals for yourself while considering a project like this. While you may think you can do it all on your own, it’s highly unlikely that you can or are even legally allowed to. Some projects involving plumbing, electricity, etc. will need licensed professionals to do the work. So it’s important to consider your renovation budget, and factor in what it will cost to pay contractors to do the rest.

Take Away

Give me a call if this is something that sounds right up your alley. A home that’s a little run down, but in a great location, could prove to be your dream home after a little work.

What You Want In A Home VS What You Need

by Mark Rieger, Mark Rieger Realty

I believe homeownership is the American Dream. When you Buy a home, though, it is important to understand the difference between what you want in a home and what you need. How can you tell the difference? 

The first thing I’d advise is pulling out a pen and a piece of paper and writing down two columns. In the left-hand column, list all of the things that you have today. In the right-hand column, list all the things you want. From left to right, your list should expand. This will be the criteria you will use to shop for a new home. 

Whatever amenities you end up listing in the right-hand column, it’s important to keep in mind that you may not get all of them in this next purchase. If your new home doesn’t have all the amenities that you want, I would strongly encourage that you start looking for ways to save money so that somewhere down the line you can procure them. 

I often see people make upgrades to their home solely as part of their strategy for selling it. This is a mistake—you’re spending money that you don’t get a dollar-for-dollar return on. If you’re making upgrades, do it for yourself first. Reap the benefits of how it contributes to the home’s sale later. 

If you have any questions you’d like answered, just shoot me an email or give me a call. I’d love to help in any way I can!

Why Your Credit Rating Matters

by Mark Rieger, Mark Rieger Realty

I will be posting links to articles designed to help home Buyers and home Sellers starting today. I hope you find them helpful. I will also have them available on My Website and can be found under the category entitled "Monthly Articles". The article today is called:

Why Your Credit Rating Matters

Simply click on the link above to read the article. Let me know if you have any questions.

5 Worst Home Fixes

by Mark Rieger, Mark Rieger Realty
I've been asked by many people over the years my opinion regarding what remodeling projects are good or not so good to do prior to listing and selling their homes. These decisions can be very puzzling and in many cases very costly for home sellers. It's natural to think that remodeling projects will always increase the value of your home. However that is often times not the case.
 
Although there are differences within regions of the U.S., there are some standards you should know about regarding this matter.  Check out the article below and perhaps you'll be able to save some money.  

 

Spring Cleaning

by Mark Rieger, Mark Rieger Realty
Spring is just around the corner, which means longer days, warmer temperatures and the time for growth and new life. After a harsh winter, spring is a welcomed season of renewal, celebration and revitalization. It is a time to clear that cluttered mess in your home and bring a fresh air into your living space. 

Here are a few tips and ideas to help you get started on cleaning out the winter humdrums: 

1. Work from the top down and inside to outside to avoid getting what you just cleaned dirty again. Make an organized plan to conquer the clutter and dirt in your home. 

2. Pick one room at a time to work on to avoid any unfinished jobs. If the room is big, start with one area, completely clean and declutter it, then move to the next area of the room. There is satisfaction to be found with seeing one room sparkle after a deep cleaning. 

3. Organize your closet. It can be the first step to organizing the rest of your home. Get rid of or donate any clothes and accessories which you no longer wear. Organize the rest of your closet by how you get dressed in the morning and by color. Make your closet look appealing, which can help your everyday routine feel much smoother. 

4. Rotate and flip your mattress. While you're at it, wash bed skirts, have the bedspread dry-cleaned and vacuum the box spring. 

5. Clean out the fridge and freezer. Pull out all of the contents and toss anything past its prime. Wipe down and deodorize shelves and walls with a warm water and baking soda solution (1 tablespoon baking soda to 1 quart of water). 

6. Dust ceiling and wash walls. Clear out the cobwebs in those hard to reach places and clean all the dirt and grime off of walls. 

7. Shampoo carpets and banish stains. Hire a professional to steam clean your carpets if possible or rent a machine to do it yourself. Make sure to check around your home for stains you may have missed throughout the year. 

8. Make the windows sparkle. Dust blinds, scrub down the windows and wash window coverings. 

9. Degrease cooking appliances. Remove any built-up grease from your stove, oven and other cooking appliances. 

10. Check home safety equipment. Change batteries in smoke detectors and check fire extinguishers. 

Try these spring cleaning tips and make your home your refuge. Ask yourself the following questions: When I enter my home, am I happy? Am I soothed? Coming home to a fresh, organized and neat space after a long day at work can bring a sense of calm and peace. That is something we all deserve for ourselves!
 
 
If you or someone you know needs some professional real estate assistance in central Oregon, please give me a call!
 

Great News For The Housing Market

by Mark Rieger, Mark Rieger Realty

Thought you all might be interested in reading the article attached below. This is from a national mortgage magazine regarding their outlook on the real estate market for 2016. Very good information to have.

As always let me know if you have any questions, or need any assistance.

http://nationalmortgageprofessional.com/news/57210/home-prices-forecast-grow-mortgage-rates-sink-again

Homebuyer Tips

by Mark Rieger, Mark Rieger Realty


The recent National Association of Realtors 2015 Profile of Home Buyers showed 95% of first-time homebuyers and 86% of repeat buyers financed their home purchase. Clients in the market for a new home can increase their chances of a successful home buying transaction by following some of these tips.

 
   
 
 
 


Check Credit Reports

Credit reports can affect a client's mortgage rate and ability to qualify for home financing. It's important they review their credit report for any errors and take measures to boost their credit score if needed. Homebuyers can always check their credit report for free here.

Get Pre-Approved for a Mortgage

Before clients start a home search, always meet with a mortgage lender to get pre-approved. It will not only strengthen their offer, it helps clients understand their buying potential and helps real estate agents define the field of eligible properties that they can afford. Know the difference between a pre-approval and a pre-qualification!

Boost the Budget

Beyond helping clients create a budget for a home within their range, consider also looking for ways that could help reduce some of the costs. Seller or lender credits or grant funds can help offset closing costs or help with larger down payment funds, possibly expanding their search options.

Resale Value

The average person moves 11.3 times in their lives so it's also important that clients consider the resale value when looking at homes. While a client may purchase their home as a long-term investment, keep in mind that they may one day need to Sell it.

Buying a home is a major undertaking. I strive to educate clients regarding all facets of the home buying process. Call or email me today if I can help you or someone you know.

Real Estate Price Appreciation in Central Oregon

by Mark Rieger, Mark Rieger Realty

The Federal Housing Finance Agency just came out with their 3rd quarter stats report.  Bend-Redmond ranked #8 in price appreciation from 3rd quarter 2014 to the same quarter this year with 13.18% increase during that time period. Also look at the percentage increase for the 5 year period, almost 60%, more than any other area in the US over that time period. Very interesting information. Let me know if you have any questions or need any assistance.

Click here to read the entire list

Fire Safety Tips for the Holiday Season

by Mark Rieger, Mark Rieger Realty

With all of the decorations, shopping and parties coming up this holiday season, it's important to remember some quick safety tips. According to theU.S. Fire Administration, the holidays are the most dangerous months for electrical and house fires; causing costly property damage. Luckily, with a few precautions, homeowners can help keep their home and family safe from fire and injury.

 
 
 
 

While sprucing up your home this season, keep an eye out for these common holiday fire hazards:

  • Carefully inspect holiday light strings, discarding any with frayed cords, cracked lamp holders, or loose connections.
  • Turn of holiday lights when leaving the house or going to bed. A timer switch is a helpful tool.
  • Don't overload outlets with too many plugs.
  • Have your wood stove and chimney inspected by a professional for obstructions or creosote buildup to avoid a chimney fire.
  • Clean any ashes or soot from the fireplace into a metal container and set outside to cool for 24 hours before disposal.
  • Ensure glass inserts for gas fireplaces are not cracked or broken.
  • Keep holiday decorations away from fireplaces, candles or stoves.
  • Test your smoke alarms and be sure to install a carbon monoxide detector on every level of your home, especially near sleeping areas.
  • Keep live trees well-watered and away from open flames.
  • Opt for fake trees that are marked "fire resistant."
  • Don't leave food cooking on the stove unattended while mingling with holiday guests.
  • If deep frying a turkey, be sure to follow fire safety precautions.
  • Be aware of hanging decorations, electrical lights or candles that pets may accidentally knock over or chew on.

Homeowners should also make sure they have a fire extinguisher easily accessible and an emergency first aid kit ready to treat burns or other injuries.

If you or someone you know is in need of real estate assistance in central Oregon, I am always available to help. Contact me today!

Displaying blog entries 1-10 of 33

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