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David Waite's Blog

By David Waite | Broker in Beaverton, OR
  • 4 FAQ's About Home Inspections Answered

    Posted Under: Home Buying, Property Q&A  |  September 17, 2014 10:18 AM  |  24 views  |  No comments


    Below are answers to some questions often asked about home inspections.

    Q: Why should I pay to have the home inspected? It looks fine.

    A: Evan Swanson with Mortgage Trust explains it best: “With an inspection you are

    hiring a professional to come in and be an advocate for your future interest in the

    home.”

    Have you gotten on your hands and knees and inched your way through the

    crawlspace? Did you peer under sinks, run the shower and all the faucets? Did you turn

    on the heater and/or air conditioner? Your inspector will. There’s a reason home

    inspections take between 3-4 hours, depending on the size of the home.

    “Inspectors will dig through every nook and cranny of the structure and test all the

    major systems to determine what possible fixes lie in store should you buy that home,”

    said Swanson.

    Q: Does the home inspection cover every potential issue that could go awry in the

    house?

    A: No. Numerous additional inspections are available to buyers, and both Caplan and

    Swanson recommend buyers talk to the inspector about what else might need to be

    inspected. Your Realtor® can also provide you a list of inspections that you can

    consider. For example, common inspections to our area include:

    ·         Sewer scope: Yes, watching footage of your sewer line as the inspector runs a tiny

    camera down the pipe is pretty gross. But, if you find roots growing through the line or

    other issues, it could save you a lot of money.

    ·         Radon: This test detects the presence of the odorless, colorless cancer-causing gas that

    inspectors are finding more and more in our region.

    ·         Underground storage tank: If it is present, buyers should ensure there are no leaks or

    other damage to the tank.

    There are a multitude of other inspections, including fireplace/chimney, asbestos, pest

    and dry rot, structural, plumbing system, and others.

    Buying a home is often the biggest purchase a household will make in their lifetime.

    There’s always a risk things will break or fail—but be proactive and mitigate that risk

    by paying close attention to your professional home inspection.

    Q: Why do I have to pay for both an appraisal and a home inspection? Aren’t they the

    same thing?

    A: Remember, the home inspector is your advocate. The appraiser is, essentially,

    working for the bank. Swanson explains: “With an appraisal, the bank is requiring you

    to hire a professional that is doing a very cursory inspection of the home. The

    appraiser’s primary objective is to value the home by comparing it with other recently

    sold homes that are similar in composition and relatively close in location. In nearly all

    circumstances an appraisal cannot be relied on to judge the condition of the home.”

    Q: Do I need to be there while the inspector works?

    A: Not necessarily. Our Realtor® experts see value in being present to meet the

    inspector. “A buyer should speak to their inspector before the inspection begins to

    express any particular concerns or relay any information they may have received from

    the seller about the property (like recent repairs or remodeling),” advised Richard

    Caplan, Windermere Stellar.

    Buyers don’t need to follow along with the inspector, but Caplan suggests it is

    important to be there at the conclusion of the inspection. “Reviewing specific issues

    (including any future maintenance recommendations or suggestions) pointed out by an

    inspector allows a buyer to actually see issues and ask about any remedies or further

    inspections needed,” said Caplan.

     

    http://www.pmar.org/pmar-resources/For-Consumers/Real-Estate-Tips/Four-Questions-Answered-on-Home-Inspections
    homeinspectorthewoodlands.com

  • VA finally recognizes same-sex marriages!

    Posted Under: Quality of Life in Oregon, Home Buying in Oregon, Property Q&A in Oregon  |  October 7, 2013 7:36 AM  |  495 views  |  No comments

          

    VA Recognizes Spousal Income In Same-Sex Marriages

     

    In Circular 26-13-18, the Veterans Benefits Administration of the Department of Veterans Affairs announced new lender processing guidelines that allow the income of same-sex spouses to be considered when qualifying veterans for VA mortgage financing. The purpose of this change is to allow the benefits for same-sex married couples to be consistent with the process used for opposite-sex married couples.

    Previously, if a veteran obtained  a VA mortgage loan with anyone other than his or her opposite-sex spouse, VA could only guarantee the veteran’s portion of the loan. VA will now review applications for the home loan guaranty benefit submitted by married same-sex couples. Since state laws are not uniform on same-sex, marriages, these reviews will be on a case-by-case basis to determine whether same-sex married couples can use both spouses’ incomes to qualify for a loan.

    When processing a mortgage loan application for same-sex married couples, lenders will be required to submit the following information the the VA Regional Loan Center for the state where the subject property is located:  (1) date and state of marriage; (2) state of residence at the time of marriage; (3) state where the subject property is located; (4) current state of residence; and (5) estimated date of loan closing. The VA staff will then notify the mortgage lender if both spouses’ incomes may be applied.

    Real estate professionals may wish to share these new guidelines with same-sex married couples that wish to use VA mortgage financing for the purchase of a residence.

    For more info contact your Oregon VA specialist:

    David Waite

    503-887-5323 or waite-david@msn.com



    This blog was re-blogged from a top agent from the Maryland suburbs of Washingon DC.  Thank you Roy Kelley for the timely blog. 



    Contact Information:

    Call or Text David S Waite at (503)887-5323 for more details

     
    To find more properties in your area please visit my website at: http://propertyinportland.com

    - See more at: http://activerain.com/blogsview/4213717/va-finally-recognizes-same-sex-marriages-#sthash.iSnDMiP8.dpuf
  • Thanks for Your Service. Mind if I Discriminate Against You?

    Posted Under: Home Buying in Oregon, Home Selling in Oregon, Property Q&A in Oregon  |  October 3, 2013 6:02 PM  |  469 views  |  No comments

       

    Had another agent the other day who didn't want to take our offer because it was VA.  She did finally counter our offer and before we could respond she recinded it.  She got another buyer who wasn't doing VA.  She had turned her seller away from VA when he had no idea about one loan against another. 

    It makes me sooooo mad that people can not appreciate these upstanding Vets who fight for our freedom daily and we have these ignorant agents who poison their clients to also discriminate.   A VA loan is no harder and most cases easier to close than other loans.  These agents don't know VA so they steer away from them.

    Can't we all just get along.  Lets help these Vets!  No they don't have 5, 10 or 20% to put down but in the long run, it makes no difference in the end, the Seller gets all the monies one way or another when it's closed. 

    Please let us help these Vets into homes they deserve....it fact they deserve them MORE!!!

    My two cents....this happened over a week ago and it still burns me.  I have it happened many times in my career and it makes me madder each time.  Come on agents.....lets get it together. 

    David Waite PC
    John L. Scott Market Center
    Real Estate Broker & VA Specialist
    Call or Text 503-887-5323
    Home Office 503-628-4558
    - See more at: http://activerain.com/blogsview/4211018/thanks-for-your-service-mind-if-i-discriminate-against-you-#sthash.DooVxpaS.dpuf


  • Intel Employee Job Transfers are Home Buyers!

    Posted Under: Home Buying in Hillsboro, In My Neighborhood in Hillsboro, Property Q&A in Hillsboro  |  September 20, 2013 7:36 AM  |  797 views  |  No comments

    I want to thank you Intel employees who have purchased their new properties using my services.  Every one of you has been wonderful to work with.  Whether you came from out of state or the other side of town it has been a pleasure to locate homes and assist in the purchase with you in Hillsboro, Beaverton, Aloha, Forest Grove and even further out. 

    Every single new employee or transfer employee has been kind and grateful beyond what is customary.  It has been a pleasure to serve you and assist you with your home purchases.  I welcome your referrals and appreciate your friendship that I hope continues on forever.  What great people Intel hires and what great people I have encountered!

    With my office just blocks from your office makes working together so easy.  If I can assist any of you further or your friends, family or co-workers…..remember I am never too busy for your referrals.

    Thank you!

    David Waite

    John L. Scott Market Center

    Real Estate Broker

    Call or Text 503-887-5323

    Home Office 503-628-4558

    Email waite-david@msn.com

  • Looking for a Buyer’s agent? You should be….

    Posted Under: General Area in Oregon, Home Buying in Oregon, Property Q&A in Oregon  |  September 17, 2013 9:06 AM  |  799 views  |  No comments

    After years of trepidation, homebuyers are finally hitting the housing market. But, as they do, many are making the surprising choice to hunt alone, rejecting the assistance of what's known in real estate as a buyer's agent.

     

    Many experts say this is a bad move — worse, for example, than trying to sell a house without an agent. For one thing, in most cases, a buyer doesn't pay an agent; the buyer's agent splits the commission with the seller's agent, so the services are essentially free to the buyer. Also, a buyer's agent can usually access historical price data for home sales in the area, which means the agent can recommend a bidding strategy that targets comparable properties that sold for less, rather than the midrange.  I call going through this process alone "a mistake."

     

    For free advice from a top buyer’s agent in Oregon, contact David Waite with John L. Scott Market Center at 503-887-5323 or waite-david@msn.com. More info at www.johnlscott.com/davidwa

  • Real Estate Market News thru August 2013 - David Waite has the facts

    Posted Under: Market Conditions in Oregon, Home Buying in Oregon, Home Selling in Oregon  |  September 15, 2013 6:57 AM  |  831 views  |  No comments

    Portland Metro Real Estate Market Report thru August 2013

     Year-to-Date Summary

    There have been 19,891 accepted offers and 18,231 closed sales in 2013, up 16.3% from 17,105 pending’s and 18.4% from 15,402 closed sales in the same period last year. The 26,850 new listings so far this year represent a 10.7% increase from the 24,262 entered the first eight months of last year.

    Average and Median Sale Prices

    The average sales price so far this year is $309,200, up 14.1% from the same period in 2012, when the average was $271,100. In the same comparison, the median price increased 15.2% from $230,000 last year to $265,000 thus far in 2013.

    Salem Metro Real Estate Market Report thru August 2013

     Year-to-Date Summary

    There have been 943 accepted offers and 878 closed sales so far in 2013, up 18.5% and 24.0%, respective­ly, from 796 pending’s and 708 closed sales by the same time last year. The 1,377 new listings represent a 3.4% decrease from the 1,426 entered by August 2012.

    Average and Median Sale Prices

    The average sales price for the first eight months of the year is $187,900, up 10.7% from the same time in 2012, when the average was $169,700. In the same comparison, the median price increased 10.1% from $149,900 last year to $165,000 so far in 2013.

    Oregon Coast Real Estate Market Report thru August 2013

     Year-to-Date Summary

    The 2,072 new listings represent a 10.0% increase over the 1,884 entered by August 2012. There were 787 accepted offers and 710 closed sales so far this year, up 2.5% and 9.6%, respectively, from 768 pending’s and 648 sales in the same period last year.

    Average and Median Sale Prices

    The average sales price for the first eight months of the year is $271,200, up 8.7% from the same period of 2012, when the average was $249,600. In the same comparison, the median increased 4.9% from $200,000 last year to $209,800 so far in 2013.

     

    Looks to me like a perfect time to sell!

     David Waite

    John L. Scott Market Center 
    Call or Text 503-887-5323   Home Office 503-628-4558
    Email waite-david@msn.com


  • Portland, Salem & OR Coast Real Estate Market Info - June 2013

    Posted Under: Home Buying in Portland, Home Selling in Portland, Property Q&A in Portland  |  July 29, 2013 10:41 AM  |  1,161 views  |  No comments

    Portland Metro Area Real Estate Market Thru June 2013

    Year to Date Summary  -  Offers up 17.3%

    There have been 14,835 accepted offers and 12,531 closed sales in 2013, up 17.3% from 12,647 pending’s and 16.0% from 10,802 closed sales in the same period last year. The 19,403 new listings so far this year represent a 8.8% increase from the 17,835 entered the first half of last year. 

     

    Average and Median Sale Prices  -  Sales price up 13.8%

    The average sales price so far this year is $302,700, up 13.8% from the same period in 2012, when the average was $265,900. In the same comparison, the median price increased 14.2% from $225,500 last year to $257,500 in the first half of 2013.

     

    Salem Metro Area Real Estate Market Thru June 2013

     

    Year to Date Summary  -  Offers up 24.8%

    There have been 690 accepted offers and 607 closed sales so far in 2013, up 24.8% and 23.9%, respectively, from 553 pending’s and 490 closed sales by the same time last year. The 1,005 new listings represent a 4.6% decrease from the 1,054 entered by June 2012.

     

    Average and Median Sale Prices  -  Sales price up 9.8%

    The average sales price for the first half of the year is $177,100, up 9.8% from the same time in 2012, when the average was $161,300. In the same comparison, the median price increased 11.1% from $140,000 last year to $155,500 so far in 2013.

     

    Oregon Coast Area Real Estate Market Thru June 2013

     

    Year to Date Summary  - Offers up 2.3%

    The 1,615 new listings represent a 17.4% increase over the 1,376 entered by June 2012. There were 542 accepted offers and 459 closed sales so far this year, up 2.3% and 2.9%, respectively, from 530 pending’s and 446 sales in the same period last year.

     

    Average and Median Sale Prices  -  Sales price up 7.0%

    The average sales price for the first half of the year is $270,300, up 7.0% from the same period

    of 2012, when the average was $252,700. In the same comparison, the median increased 5.0% from $200,000 last year to $210,000 so far in 2013.

     

    All markets have increased in every aspect.  For more information or assistance please contact me.  I belong to the Portland, Salem and OR Coast Multiple Listing Services and happy to assist. 

     

    David Waite

    John L. Scott Market Center

    Real Estate Broker

    Call or Text 503-887-5323

    Home Office 503-628-4558

    Email waite-david@msn.com

    www.propertyinportland.com

     

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