If you are a for sale by owner the post is not allowed; if and when you do list with a broker, ask your agent to post the listing, or consider any flat fee realty company that feeds into the site....... more
If you haven't secured your Construction Financing as of yet. I'd be happy to talk to you about your options. Axia Home Loans has several options that would accommodate your parameters.
Feel free to email me @ email@example.com or call me at 503-577-2386.... more
Your best bet is bringing in an experienced Realtor who can provide you not only the statistical analysis of your market, but one that fully understands the nuances of the market and how your home will be positioned among the competition. I live and work in Lake Oswego and sell many homes in this wonderful community. It sounds like you have done all the right things to make your home very appealing with today's buyer. Please call me at 503-502-5227 to arrange an appointment. I can assure you I will provide an honest opinion of your homes value and the steps it will take to sell for top dollar. You can also check out my reviews online.... more
The only reason a buyer took out an ARM adjustable rate mortgage was to qualify for a larger house payment and that got many buyers into trouble in the last 5 years. Today with interest rates at 50 year lows and ARM's at about the same rate there is no reason to take out an adjustable loan unless that you know the in the next 4 years you will be moving and getting rid of the loan and in this case you really might consider what the savings would be if the ARM adjusted up and to compare the savings over a fixed rate in the next 3-5 years. I have a feeling that rates will go back up because they are at a 50 year low and they cannot go down any further. If you would have taken out an adjustable loan in the past 15 years your payments would be lower with an ARM than a fixed because the rates have been coming down and the adjustable rates track down ahead of the fixed rates. Today though I would get a fixed rate loan.
Tom Inglesby, Broker
RE/MAX Equity Group
Most of the "advice" you have gotten have been poorly veiled attempts to push listing services and give no solid advice. Other responses deal with vague information, failing to get to the guts of the matter you have asked about. None have answered your second question with any certainty - and all respondants fail to ask a most important questions. Here is the bottom line down and dirty honest response to what you have asked:
In response to waiting for the "seller's housing" market to return: Don't plan on properties in the LO or greater PDX area to regain values back to the artificial high during the boom. Despite what you might hear from the Realtors who like spin; LO has not finished dropping in value. Should it regain any substantial value it will be a long time coming and at a cost while you wait it out. Consider how much might you be over paying to support the debt on your property during this perod? If your mortgage is higher than the cost of renting or getting a new mortgage on a similar property then you are going against any tide of possble and very modest future increase in value. This needs to be factored into the big picture when considering any potential future increase in value. If you own our home free and clear then that's a different matter.
In answer to your first question, if you should sell now; The answer comes from evaluating two issues.
a) Repeating an earlier point: Is your property monthly cost higher than the cost to rent or buy a similar property at today's costs and mortgage interest rates?
b) Is your property underwater? (Do you own more than the current market value?)
If your answer is yes to both these questions then you need to dump the property now - without delay - as it is an upside down non performing investment. If your answer is yes to only one of these questions then there might be a reason to hold on - only so long as you can afford the monthly cost from your regular income and you are not using savings or other credit to maintain the mortgage and other payments associated with the property. Should you not afford the monthly payment then sell.
January 2010 and I still see lots of price drops. The problem with the Portland area is lack of jobs, and nothing is happening in Portland right now which will bring jobs. The "bubble" here was almost obscene. I've live my entire life in Portland and have owned several homes here, and would literally laugh when I saw what people were paying for former crack houses, just because the neighborhood had a new cute name!... more