Real Estate Information

Americans are on the move. Recent housing market fluctuations and economic conditions have prompted many Americans to relocate. Some relocate to find employment or meet job requirements. Others are (sadly) losing homes to foreclosure and looking for a new start. Some are finding affordable housing as a result of the slow housing market in new locations. Believe it or not, there are some who simply seek new and better surroundings.

People choose different locations for different reasons at different stages of their lives.

Whether you're moving to a new community by chance or by choice, the transition can require a long period of stressful adjustment. There are ways to minimize the stress and prepare you and your family for life in a new neighborhood.

Tap Into Technology

If you have decided to move to a specific location (such as in the case of a job transfer), it's a good idea to become familiar with your new surroundings before you make any decisions about housing or local location.

The Internet is a wonderful, wonderful tool that can take you places without ever having to leave your home. Take full advantage of the tools the Internet offers. Start by contacting a real estate agent who can act as a "virtual guide" and, later, a location guide.

A real estate agent can be your best friend in this situation. Real estate agents are generally very well connected and can provide you with quality community information in an instant. Peruse your agent's website for local information and links that will help you evaluate:

• Communities and neighborhoods
• Recreational opportunities
• Climate and geography
• Commerce and local economy
• Education
• Social settings
• Housing markets
• Local demographics
• Utilities
• And more!

Your real estate agent can provide you with external local website links that will help you provide in-depth information.

Nearly every incorporated city and some unincorporated communities feature websites with helpful information. Simply access your favorite search engine and type in the name of the city. You may get more accurate results by using quotation marks around the name of the city (especially if the city name includes more than one word), for example, "Salt Lake City, Utah" or "Salt Lake City, UT". Be sure to use the name of the state in your search. Look for official websites with a ".gov" or ".org" extension. You can also type in questions such as, "In what county is Salt Lake City located?"

Local chambers of commerce are almost always willing to send relocation packets with selected information including visitor guides and local resources. Often their websites feature links that allow you to request a relocation packet online. Some charge a minimal fee.

If you are still deciding where you want to live, there are many public and private enterprise websites that compare communities and offer demographic information on multiple communities.

U.S. Census Bureau - www.census.gov

The U.S. Census Bureau is a great source of information. Be forewarned that smaller communities may only feature information based on the most recent complete census conducted in 2000. There are many different data sets available through the U.S. Census Bureau including:

The Decennial Census taken every 10 years to collect information about the people and housing of the United States.

• American Community Survey - an ongoing survey that provides data about communities every year.
• Puerto Rico Community Survey - the equivalent of the American Community Survey for Puerto Rico
• Population Estimates Program - population numbers between censuses
• Economic Census - profiles the U.S. economy every 5 years
• Annual Economic Surveys - data from the Annual Survey of Manufactures, County Business Patterns and Nonemployer Statistics

You will also find:

• American Indian and Alaska Native data and links
• FastFacts for Congress - Demographic and economic data for Congressional Districts
• Kids' Corner - Learn fun facts about your state and take a quiz

CNNMoney.com (Money Magazine) - money.cnn.com

Each year Money Magazine conducts a study of America's small towns and compares them to other small towns throughout the country. The information provided by this source is more subjective than hard statistics provided by the U.S. government, but its also more user-friendly and in some cases more in-depth. The information is somewhat limited depending on the towns studied in a given year. Money Magazine Places a high value on strong economy, education, low crime, affordable housing, etc.

Wikipedia - wikipedia.org

Wikipedia is a multilingual, Web-based, free-content encyclopedia. You will find information on many states, counties, cities and towns, and counties on Wikipedia. Remember Wikipedia is written collaboratively by volunteers from all over the world. Anyone with access to the internet can make changes to its articles. On this site you will find information about demographic (usually based on the most recent decennial census), history, geography, climate and more.

Sperling's Best Places - www.bestplaces.net/

Sperling's Best Places is another good private site that compares community features and gives readers an inside look at the best features of many communities. Here you'll find information about the cost of living, crime, education, the economy, population, climate and more.

Where to Retire -- wheretoretire.com

If you're ready to retire and are looking for a new location, Where to Retire can help you analyze different areas armed with information. Where to Retire strives to be America's foremost authority on retirement relocation.

Relocating to a new area is a monumental event! Choose the right location and know the location before you actually make your move.

If you need any assistance with your relocation to Central Oregon, or if you're looking to Buy or Sell real estate in this area, please give me a call. I'm happy to help you any way that I can.

It seems the world is on fire.

Many states including California and Utah are ablaze with life-threatening, home-threatening flames. It's a common scenario for the season. Unless, those fires are hitting close to your home.

Protecting a home from the perils of fire is a very hot topic today.

The first three recommendations I would like to make are these:

• 1. Get insurance
• 2. Get insurance
• 3. Get insurance

On the morning news I watched a man interviewed by probing reporters as he stood in the midst of his once beautiful 20-acre paradise. His charred home was a pile of rubble and the trees surrounding him grim silhouettes still smoldering in the grey morning chill. He didn't have any homeowner's insurance. He was mad. He was very, very angry that the fire had been allowed to consume his home. "They told me that it would never happen. It happened," he said shaking his head. He appeared to be in a mild state of shock.

Sometimes despite best efforts by safety experts, fires get out of control.

Homeowner's insurance will protect you and your lifetime investment in the unlikely event of a fire. Check your policy for fire coverage. Make sure your personal belongings are included in the policy. Purchase "replacement value" insurance to assure your insurance company will pay to replace your home (and not just pay what is owed on it).

You might never cash in on the cost of homeowner's insurance premiums. Consider including the premiums in your entertainment budget because knowing you have insurance will help you relax more and more often than any vacation ever will!

Do Your Part to Protect Your Home from Fire

It is important to consider fire safety at every stage of buying or building a home. When choosing a building lot, be completely aware of the surroundings. Wooded lots are lovely, but they do pose an increased risk of fire due to the fuel that surrounds them. Look for other safety considerations and make a plan for how you will physically protect your home and property.

When building a home, take into consideration the many fire-retardant materials available on the building market today. Build fire safety into your plans with plenty of accessible exits, and recommended windows to allow easy escape. Contact your local fire station for other recommendations specific to your area.

In an existing home, double-check smoke detectors and change the batteries regularly. Create a family escape plan. Avoid heavy build up of newspapers and trash in and around the home. Never store flammable liquids near the home. Make a sweep through your garage at least once a week to check for potentially dangerous chemicals.

Keep trees, shrubs and other vegetation surrounding your home trimmed. Yard debris should be removed as soon as possible including dry leaves and pine needles.

There are many, many ways to protect your home from a potentially devastating fire. Fires throughout the nation are great reminders to consider fire safety and review the precautions you have taken to protect yourself.

Fire happens. Don't let it happen to you.

Have you recently been turned down for a loan due to negative information on your credit report? Are you just curious about how long items can remain on your credit affecting your score?

Accurate negative information will generally be reported for seven years, but there are exceptions:

• Bankruptcy information can be reported for 10 years;
• Information reported because of an application for more than $50,000 worth of credit or life insurance has no time limitation;
• Information concerning a lawsuit or a judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer;
• Default information concerning U.S. Government insured or guaranteed student loans can be reported for seven years after certain guarantor actions; and
• Tax liens stay on 7 years from the date paid.

Some other rules to keep in mind:

The Statute of Limitations has nothing to do with the length of time something can stay on your credit report. They are two completely separate things. The length of time a negative mark can stay on your credit report starts from the time you were late or the late payment went into collection, not from the last time you made a payment on the account.

Sometimes negative items can be overlooked and not removed when they should be. That’s why it is important to check your credit report at least once each year (it’s free to view your report at annualcreditreport.com). Review all the items on your credit report to ensure there are no errors and that anything that can and should be removed is deleted.

Negative items on your credit report don’t necessarily mean that you absolutely can’t qualify for a home loan. There are loan options for those without glowing credit scores. Contact me today if you have any questions, and if you're looking to either Buy or Sell a home here in Central Oregon. I am here to help!

The threat of losing your home can lead some homeowners to take desperate measures to find companies who claim to reduce your monthly mortgage payment or take other steps to save your home.

Unfortunately, there are many scam artists stealing millions of dollars from distressed homeowners by promising immediate relief from foreclosure. Keep this in mind: If the advice or information sounds too good to be true, it probably is. Don’t be taken advantage of.

Here are some tips to help you avoid these scams: 

• Help is free! There is never a fee to get information from us. HUD-approved housing counseling agencies can also help you at no cost to you. Beware of any person or organization that asks you to pay a fee in exchange for housing counseling services or modification of a delinquent loan.

• Beware of anyone who says they can “save” your home if you sign or transfer over the deed to your house. Do not sign over the deed to your property to any organization or individual unless you are working directly with your mortgage company to forgive your debt.

• Don't sign papers in exchange for a promise that someone else will pay off your mortgage. Always be sure to read and understand all paperwork before signing to ensure that you are not unknowingly giving someone else ownership of your home. 

• Never submit your mortgage payments to anyone other than your mortgage company without your mortgage company's approval. Scammers might ask you to make your payments to them; however, they usually pocket your payments instead of sending them to the lender.

• Beware of anyone who says that you don't need a real estate professional or title company when selling your home. You should always have a real estate professional, attorney, or a title company to help you with any transaction involving your home. 

The FTC warns:

The scam artists use simple but potentially deceptive messages, like:

"Stop foreclosure now!"

"Get a loan modification!"

"Over 90% of our customers get results."

"We have special relationships with banks that can speed up the approval process."

"100% Money Back Guarantee."

"Keep Your Home. We know your home is scheduled to be sold. No Problem!"

Once they have your attention, they use a variety of tactics to get your money.

If you're struggling to make mortgage payments or facing foreclosure, there are legitimate options available to help save your home. Contact your lender immediately. You may be able to negotiate a new repayment schedule. 

If you believe you've been the victim of foreclosure fraud, contact the FTC, or your state Attorney General's office, or the Better Business Bureau.

As always, if you or anyone you know is looking to either Buy or Sell a Central Oregon property, please let me know.

Choosing the right price for your home is one of the most important aspects of selling your home. If your price is above market value, you run the risk of it sitting on the market too long.  

An overpriced property:

• Minimizes the number of offers
• Limits qualified buyers
• Reduces the number of showings
• Lowers prospects
• Limits financing
• Will attract buyers in a higher price range that have high expectations

Most buyers today are educated about the home buying process and have done their homework before purchasing a home. They will know if your home is overpriced. 

In choosing the right price for your home, the market is the most accurate indicator. The condition of the current market, the number of buyers, and current competition will dictate your home’s value. If your home does not meet the competition price, it simply will not Sell.  

Keep in mind that the value of your property is not dictated by what you’ve invested in the property, what you paid for the property, or by the amount you feel you need to receive from the property. 

Choosing the right price for your home will increase advertising response, stimulate buyer interest, compensate for property shortfalls, and provide you with a negotiating advantage. If you are looking to either Sell or Buy a home in Central Oregon, please give me a call.

While the market seems to be slightly improving, there doesn’t seem to be a shortage of foreclosed homes. Purchasing a foreclosed home can save you money and even possibly prove a lucrative investment, but it’s important to be educated on what to look for when buying a foreclosed home.

• Budget carefully. The “total price” of a foreclosed home is not necessarily the agreed upon price or the bid made at auction. The total price takes into account all back taxes, liens, and any other financial responsibilities the purchaser inherits from the purchase of the property, which takes us to our next point:

• Do your research. Once you have found a foreclosed home you are considering buying, go to the County Recorder's Office. The County Recorder's Office can provide you with the amount in back taxes owed, which generally isn’t included in the sales price. They can also provide you with the Trust Deed, the Notice of Foreclosure Sale, and the Notice of Default on the property. These documents are public record and reflect how much was originally loaned to the homeowner, when the loan was issued, how much was owed at the time the Notice of Default was filed, and how much the bank paid for the property.

• Schedule an inspection. Before making any offer, have the foreclosed home thoroughly inspected by a professional. Make sure the electricity is turned on when you go to inspect the property. Check the roof, all electrical appliances, the air conditioner, and load bearing beams. Check for termites, mold, structural damage, and bad grout. Once the home is inspected, have the inspector give you an estimate for any costs and add it to your budget. Foreclosed homes are usually sold “as is” and once the contract is signed, any repairs are your responsibility.

• Consider the selling process. Is the sale an auction or is the property Real Estate Owned (REO)? Auctions can be a good option in market liquidation; however, purchasers at auction do not often have time to make necessary inquiries. Auctions can also cause a competitive and emotional environment, so be very cautious not to overbid. You are not in competition with the other bidders. You are in competition with the market value of the foreclosed home. Also, back taxes or liens are usually not included in the bid price, so keep that in mind. REO properties are those that fail to Sell at auction and are being sold by the bank. This process tends to offer the purchaser more time to discover any drawbacks and react accordingly.

• Choose the right lender. Good financing options are still available to many qualified homebuyers. A good, reputable lender will take the time to review your financial long- and short-term goals. They will explain the process of buying a foreclosed home to you clearly and help you find the best solution for you.

I keep your goals in mind and want you to get into a home that is right for you. If you are looking to Buy a new home, or want to learn more about what to look for when purchasing a foreclosed home, contact me to discuss your options. I'm here to help!