Chris Courtney

The first 3 answers, in my opinion, only ask for the opportunity to refer you elsewhere versus giving you good information that you can use to you advantage. What's up guys, can't you investigate versus a quick answer? This property sold for $130,000 in 2006, so the seller is offering at a loss. This may be a short sale, so investigate with the listing broker if that is so, and if so prepare for a long transaction period.

Here is what I can tell you. Mosher is the old, historic district that borders industrial area near the river. It's riddled with compromised properties that are in poor condition, not financiable, or in great condition and remodeled/renovated. My opinion is that this neighborhood is ripe for appreciation over a solid 10-15 years. If you purchase for investment and put enough down so it cash flows you will be solid in that time. If you owner-occupy you are agreeing to the neighborhood.

Here are the public comments on RMLS ID: "Affordable historical home for first time home buyers or investors. All new windows, laminate flooring, tiled counter tops, plus approx. 380 sqft.(per seller) loft not included in sq. footage. Corner lot, large front porch, close to river and parks. Bring all reasonable offers."

The home is rented at $750/month per the RMLS comments, so if you don't want to live there maybe the tenants want to stay and you can cash flow positive at $750/month with a % down that suits. We can calculate this.

Goto http://www.HouseNow.com and enter in the top right of the home page the following RMLS ID: 8083650
Upon which all the property pix will come up and other information. You can also search Roseburg using HouseNow.com. I am located in Eugene and appraise a ton of real estate in Roseburg, so happy to help. I created HouseNow,com to help consumers like yourself. So, please visit:
http://www.HouseNow.com

And search Roseburg. It's a pretty large market given the geographic area it covers, and there are deals in that market. If you are not specific to Douglas County, consider Myrtle Creek. Call me if I can help further.

Regards,

Chris Courtney
State Certified Residential Appraiser http://www.HouseNow.com
541-912-1405 cell
541-284-2511 office - Sun Sep 28 2008, 21:34

Hi Rick,

I have been a certified residential appraiser for near 17 years in Oregon and I do work in the Portland area. I have access to all data that is used to prepare a credible appraisal. I am approved with a majority of lenders and have the qualifications otherwise to become approved. A majority of underwriters presently are very scrutinous of appraisals to the point of classifying census tract code markets as declining markets, as well strict requirements for comparable distances from the subject, time of sale, and inclusion of listing & pending data. Some appraiser's just go through the process and keep it simple versus taking the time to put together a sound report. After many years in this business, I can only state that (in my opinion) I wish other appraisers would take what they do more seriously and with higher regard for the diligence in analysis. There are good appraisers out there, don't get me wrong...but it's the same for any industry.

Check out my bio in Trulia (click on the personal photo) and/or my website(s):
http://www.HouseNow.com for brokerage http://www.pvg.net for appraisal

Regards,

Chris Courtney
State Certified Residential Appraiser
(541) 912-1405 cell
(541) 345-7992 office
Chris@HouseNow.com - Fri Sep 5 2008, 07:57

Hi Karen,

You may visit http://www.HouseNow.com which specifically serves Eugene where I am located.

We are connected to 3 mls's. RMLS serves Eugene and feeds the website every morning with new listings in the Eugene area. Our property details include disclosing the particular schools the property is served by. Your areas for Sheldon High School are the Ferry Street Bridge & Gilham neighborhoods, however consider that everthing offered in Eugene is pretty close to each other and you may try the lottery system such that your daughter can attend Sheldon while you all live in that desired, historic neighborhood like East or West Eugene.

I am here to help, have over 15 years of local real estate appraisal experience, a UofO grad myself, and not only help with real estate but with helping new residents learn Eugene. Please take a brief moment to visit:
http://www.HouseNow.com

Where you can search, save, and allow me to set up for you a buyer folder with your specific profile such that you receive autoemail alerts on a daily basis when new properties hit the market that fall within your search needs.

Here to help!

Best Regards,

Chris Courtney
State Certified Residential Appraiser - 15 years
Principal Broker - 10 years http://www.HouseNow.com
(541) 284-2511 office
(541) 912-1405 cell - Thu Aug 7 2008, 10:32

Hi Peyton,

I just returned from Japan...beautiful country and I can not wait to return. I even experienced a 7.4 earthquake, Kiyoto, Shinjuku, Shio Dome, the wordly famous fish market, Hakone (absolutely lovely!), awesome sushi, bullet train, and very generous and helpful people. If anyone reading wants to experience a lovely culture and clean, efficient society...visit Japan...we could learn alot from them.

On to real estate: You may visit:
http://www.HouseNow.com

to search all properties that are for sale in the Portland metro area. Our website is served by 3 multiple listing services that pretty much blanket Oregon. Our site is user friendly and intuitive.

Regarding your questions, the only risk of loss you may experience (CON) is the opportunity cost of a greater return on your money in another investment that would otherwise grant you greater return than what your choice on real estate may provide. Consider appreciation to either be stagnant or in reverse right now...in general. You may also consider finding that neighborhood where values are continuing to increase and attempt to ascertain if that area will reward at a greater rate than another investment, and moreso not fall victim to the market in general that is in reverse potentially.

The PRO of paying cash is the lack of debt service and pay off with consequently saved mortgage interest.

As for a cut in price, try offering 85-90% of asking price. Maybe look at what the property is truly worth (comparable SOLD properties) and offer within 90% of that, assuming the seller's may negotiate downward from present asking price. On a price of $300,000, an 85% reduction for a cash offer would be $255,000 and remember to include a very short closing of 2 weeks. There is no equation to this, it's more about seller motivation and the ability of your broker to negotiate.

Regards,

Chris Courtney http://www.HouseNow.com
State Certified Residential Appraiser - 15 years
(541) 284-2511 office
(541) 912-1405 cell http://www.HouseNow.com
Search Real Estate - Sun Aug 3 2008, 07:22

Hi Dyane,

If your new job is very similar to your past job, you are okay to apply for a mortgage.

Call Steve Gabriel at CrownMerit financial for honest, up front mortgage advice. His number is 503-888-2297 and he is FHA qualified, which you might also qualify for.

In the interim, visit:
http://www.HouseNow.com

Where you can search all of Portland, West Linn, Clackamas, Oregon City, Salem...as far south as Ashland. HouseNow.com is connected to 3 mls's (RMLS, WVMLS, SOMLS) so you have access to comprehensive market information that is timely.

Regards,

Chris Courtney - Broker http://www.HouseNow.com
State Certified Residential Appraiser - 15 years
(541) 284-2511 office
(541) 912-1405 - Sat Aug 2 2008, 23:15