Hello,

If you are planning on purchasing, I suggest looking into financing options before making an offer. Purchase financing has gone through major guideline restructuring . Many are finding that even though their loan is approved, the private mortgage insurance company (pmi) are not willing to insure the loan. So you really to work with someone who is keeping on top of it all. There is also government financing and portfolio programs that are available.

Call me with your scenario and I'll put together some options for you free of charge. It helps to know what to expect. You can email me at crystal@ambientlending.com or call me toll free 877-777-9763. We lend within the entire State of Oregon. www.ambientlending.com

As far as lending tree, they charge a $200 application and you really should look into the legal actions they are involved with first. I'm sure if you google it, you'll find it.

Fri May 2 2008, 13:50

Focals - since I am an inspector and not a RE agent this will be a little different response. From a building standpoint, Arbor does a reasonable job but a lot depends on the project supervisor. Some of the projects have had some issues with exterior siding installation (Hardi and Cultured Stone). Interiors are reasonably well done and they use well made fixtures (unlike some other builders). As the other agents have said - it is the HOA fees that call kill you over time.

Thu Apr 17 2008, 07:49

Being a first time home buyer, are you considering the location? or Arbor? or price? condo? These are all important questions to answer....next logical one is - "are you pre-approved" yet? Before going into any negotiation with "builders" (or sellers for that matter), you best be pre-approved for a mortgage! If you have any questions, feel free to contact me.....there are other areas close to this one that are appealing.

Thu Apr 3 2008, 19:01

Hi there,
Thank you all for your wonderful replies. It more than answers my question.


Take care.

Thu Apr 3 2008, 10:30

Sorry the delayed answer; I was in appointments all day and evening. The $275 price is the builder's price only-which has gone up since they closed the first phase of homes. I would have to comp the area (if you decide to allow me to represent you in the transaction) and I have a feeling that they are selling those at that price because they are doing the upbeat European style which is appealing to the masses. They have been selling quite a few (about 11 last month closed)-which is a good rate of sales. If the New Construction and Townhome lifestyle is your choice because you'll have no yard work, and some nice ammenities then getting in on a popular area like this would be great. If you are like others who want their privacy and some yard to mow then there are some homes in that price range. If you don't mind an older TH you could save some money.

Wed Apr 2 2008, 00:29

Sarah...

I do not mean to be a tough guy here but if you give sales comps to a buyer you are performing Real Estate Activity and you are not licensed to do that. You could be held accountable for selling real estate without a license, fraud, and possible RESPA Violations.

For Focals. $275K is not a value. That is the going price....not anything special. The last project that Arbor Built in Bethany...Arbor Reserve has had units fall in value to the $230's since people bought them the last 24 months.

Again....Townhomes are fraught with legal actions and HOA issues. I still think you go for a home if you are looking to spend $275K or can spend that much. I have a 3 BR Single family on a private lot in Arbor Ridge for $250K and it is nicer than a townhome in my humble opinion. That is right in central Bethany. At the Reserve Project the HOA Fee's were $115 pm and as soon as the developer turned the project over the HOA dues went to $210 pm.

That hurt the values. Remember that every $6 dollars in HOA fees will cover $1000 mortgage each month. That means that a $120 HOA is equal to $20,000 in mortgage debt. So you could buy a $295K home for the same payment as a $275K Townhome.

If you can get one for $240K great. For $250K ok...But $275K is no Bargain. There are units at the essenza condo's in Bethany above the main street there for $185K to $230K and that is a good value. Arbor Parc is an awesome spot and the units are nice so buy there if you wish. It will be a good investment.

You may decide to use our exclusive Buyer Program and receive a substantial benefit through the Costco/Lending Tree program. That can save you quite a lot by using that service.

Let me know if I can Help.

regards;

Dirk
503-799-8383

Tue Apr 1 2008, 08:16

Dear Home Buyer,

This is an easy question to answer. If you have an actual address an Real Estate Agent or a Mortgage Professional can pull lup "comparables" which will give you a truly reasonable breakdown and comparison. I being a Mortgage Professional, would be happy to help you do this.

Tue Apr 1 2008, 07:26

Hi June and Dirk,
Thanks for your replies. I really appreciate it. June, you mentioned price to be $275 K. My question is, is this a 'bargain' price for the Bethany area townhome in this market?

Thanks again for your reply.

Mon Mar 31 2008, 19:17

To add to my first two comments; I checked on availability for you- there will be a couple units available in 30-60 days. Lowest price point is 257K. Let me know if you want to go check it out. Great response to this project- sold as soon as built in most cases. Now is the time to make your move to acquire one of these upcoming units. I can get you a copy of the CC&R if you like; just let me know by contacting me through my web site.

Mon Mar 31 2008, 17:53

I am the top selling agent in this Zip and own the ReMax Office here. Arbor Parc is very nice.

Having said that the HOA fees may be going up. You can also get a singel family cottage on its own lot for about the same price right now. So shop carefully. Make sure you get a value if you are buying a townhome or condo right now.

They are much softer on the market than a home and therefore you have to get a better value.

Great location and setting! No doubt and Bethany is not the #2 most expensive zip in Portland for no reason. It is a superb locale and I live 1/2 mile form there. So is it a good location? Yes. Is this a great project? Yes. Just know the market and look at all your options.

Call if you want a local expert!

Best Wishes;

Dirk Knudsen
ReMax Hall of Fame
503-799-8383

Mon Mar 31 2008, 16:12

Let me add a few more comments about this newer community; they have 2 and 3 bedroom spacious floor plans both over 1400 sf. They expect the development to be completed in the summer so now is a great time to be looking and with the slow winter you may be able to get a nice deal with the right negotiations being done on your behalf. They have 6 different floor plans from what I understand. The style of the units is european by design and they feature pleasant landscaping, facades and good garage space (2 car). If you would like to go look and see the units let me know and I'll assist you. Email me through my web site if you would like to set a time to go look. Hope to help you find your first place. You can also search all the listed homes via my web site under your own secure login- save favorites, use custom satallite (individual house view possible) and more. Check it out.

Mon Mar 31 2008, 15:56

I am sure you would find that the Bethany area is a pleasant area. There are a lot of nice homes and townhomes over there. If you would like some resources that I provide buyer clients I can email it to you. This resource is a list of great web sites that you can go to to check information about specific neighborhoods, demographics, crime stats, location of area sex offenders, business and planning goals, etc. As a first time buyer you should learn the ropes from a professional realtor. I would love to help you with that as I have many others. You can check my quality service rating by going tohttp:// www.qualityservice.org. These are stats collected from previous clients by an independent research firm which they then post for all to view. I look forward to you contacting me to request the free buyer information at my web site below.

Mon Mar 31 2008, 15:35