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Home Buying in 97124 : Real Estate Advice

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  • Local Info1
  • Home Buying17
  • Home Selling2
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Activity 13
Thu Jan 15, 2015
merritthometeam answered:
If you need to finance your purchase, it is unlikely that your lender will loan against the condo while it is in litigation. However, if you are a cash buyer, it is an ideal time to buy because a home that cannot be financed looses significant value because the buyer pool is depleted by about 75%. You can usually get a "cash only" type purchase for 25 to 30% under market value of what the home would be worth if not in litigation. Great investment if you can buy with cash funds and hold for a couple years while the community value recovers. ... more
0 votes 7 answers Share Flag
Mon Dec 13, 2010
Dallas Texas answered:
I some instances a buyers agent can provide closing gifts.... we have paid have a room painted as a gift to the buyer after closing.

Any questions confer with broker OR state

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
... more
0 votes 11 answers Share Flag
Wed Dec 8, 2010
Cindy Korstad answered:
Greetings,

If there are multiple offers and the house is in need of major repairs a cash offer might be considered over others depending on the amount offered. The banks main focus is the appraisal amount and they want to stay within a certain amount of that figure. Usually they will only accept and consider one offer at a time on a short sale so the terms would only matter if someone was trying to purchase a fixer with the wrong loan.

Hope this helps, good luck
Cindy
... more
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Wed Dec 8, 2010
Cindy Korstad answered:
Dear Buyer,

Yes you can negotiate the price after the bank has accepted your offer, if your appraisal comes in less than the offer price. Your agent will be able to help you with this.

Good Luck!!
Cindy
... more
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Thu Oct 14, 2010
Honest John answered:
In my opinion as a honest General Contractor in the Portland Metro area for the last 20 years, the biggest problem is the Ambulance chasing that is going on now. Teaming lawyers, Inspection firms, and siding companies. Even the Property management companies have joined this Biased conflict of intrests. Who pays the bill???? The well intentioned HOA and their residents are talked into going after a builder for construction defects. When it's done. Excessive work is performed. Home owners are assed 10's of thousands of dollars. The Private inspectors, lawyers, and siding companies get rich. And they move to the next HOA. Are there construction defects?? Of course. But can you truly expect the companies that stand to profit MILLIONS to present a non biased report. IT'S A RACKET. ... more
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Tue Nov 17, 2009
William Metzker answered:
I would say yes. In a short sale situation, an accepted offer almost always has a letter of prequalification from the buyer's lender attached, which means the buyer has gone through all the loan underwriting stuff and isn't likely to get bounced. All the buyer has to do is pay for the appraisal, and if it comes in, the offer goes through.

I would have a hard time asking a seller I represented to take a lower offer just because it was cash. Remember, that seller is liable for a deficiency judgment, and if the offer is less--cash or not--the amount of the deficiency would be more.

As a side note, some people assume that there's no deficiency in a short sale, because they are restricted under Oregon's foreclosure statutes. But short sales do not fall under state foreclosure laws, so neither do restrictions on deficiencies.
... more
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Mon Aug 24, 2009
Carla Muss-Jacobs, Principal Broker/Owner ~ Exclusive Buyers Agent ~ ABR, CEBA answered:
Reddy -- roads can be problematic. It depends on certain things though, and without knowing the lay of the land . . . hard to say sight-unseen. A few things to consider: is the noise "visual" and/or "audio" -- can the road be both seen and heard? If so, it's not a good thing. If the road isn't seen -- visual noise is not a factor. Does the noise level subdue after the rush hours calm down, it might not be that bad of a thing.

I've lived on a very busy street, but the way the acoustics, sound bounced off the road, it wasn't bad at all. And the visual noise was cut down from trees, fencing and plantings. The master bedroom was off-street, so it was peaceful. The home had vinyl windows, which were great in cutting down noise too. The front door was not on the major street, but similar to your situation, it was the backyard.

The current owner didn't seem to mind -- they bought the place. If your budget and the current inventory suggest that this home would work you might want to consider it. If you're currently being represented by an agent this is the type of discussion they should be having with you.

Carla Muss-Jacobs, Broker/Owner
EBA Portland, LLC
Exclusive Buyers' Agent
Assisting Buyers in Metro Portland since 1999
http://www.EBAPortland.com
... more
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Thu Jul 9, 2009
Carla Muss-Jacobs, Principal Broker/Owner ~ Exclusive Buyers Agent ~ ABR, CEBA answered:
Buying property is not a good investment?? Hmmm . . .

Look, Gina . . . buying ANYTHING is a "caveat emptor" proposition. I bought a pack a gum last week since I saw an Orbit commercial. WORST tasting gum I had ever had. Maybe someone else likes the taste, but for me . . . ICKY!!

Reports are generalized. So if you want to apply the index for what is going on, that's fine. But, the index was designed for other users -- institutional, etc. who deal with real estate on a much larger (bulk) volume. A single home buyer wouldn't probably not be as affected as institutional investors by the report. Real estate is localized, and it might even be on a home-by-home basis. What ANY seller will want to net (be it a banked owned, owner occupied) is the basis.

As far as home buying is concerned, would you want to pay the mortgage . . . or the rent?

Real estate, if bought for the right reasons, will be a good investment. And, the tax write offs are helpful to some people. And with the $8000 tax credit (which is a limited time offer) it might be a good time.

Without knowing your situation, it would be hard to generalize. Perhaps renting is a better option for you at this time. But buying, IMHO and NOT because I'm a real estate agent, is a better option then renting. And in that regard, being a home owner is a good investment!

" . . . a house is never a good investment" what tripe!

I do agree that you will need to follow interest rates. When they start to creep up, it will add to the monthly PITI.

Please understand that without knowing your situation, it would be hard pressed for any professional to ascertain if buying a home would be a smart move/investment.

If you wanted to do a simple "rent vs. buyer" analysis, there's a good program I can plug in your numbers for you. No obligation . . . ;-)

Hope that helps.

Carla Muss-Jacobs, Broker/Owner
EBA Portland, LLC
Exclusive Buyers' Agency
Assisting Buyers in Metro Portland since 1999
... more
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Fri Jun 5, 2009
Jason H. Gomes answered:
When you're looking at the number of bedrooms, it is very important to take into consideration, the area, and the price point that you're looking. Would it be a good idea to buy a 2 bedroom house for $750k? No probably not unless you're in Hawaii then it's a smoking deal.
If you're in an area that's close to high tech I say that you'd be fine, you're better off buying a better home with one less bedroom then a larger home.
When you're walking through a home people buy what is appealing to them, many people buy homes because they love them, you want a home that is easy for people to imagine living in, and being proud to bring guests into their home. A nice 3 bedroom home is better than an okay 4 bedroom. There are more people who would be willing to sacrifice the use of the extra room then remodel a home to give it that homey feeling.

Jason H. Gomes
Prudential NW Properties
Greater Portland Area
Cell: 503.608.8785
Desk: 503.350.7378
... more
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Fri Jun 5, 2009
Jason H. Gomes answered:
I wouldn't be to worried, especially in Orenco station area, because of the fact that it's rather desirable location. a 3 bedroom two bath is pretty common requirement for people who are looking to buy a home. That coupled with the upgrades and location, I don't think that you would have to much of an issue at all selling.

Jason H. Gomes
Prudential NW Propeties
Greater Portland Area
Cell: 503.608.8785
Desk: 503.350.7378
... more
0 votes 9 answers Share Flag
Fri Nov 14, 2008
William Metzker answered:
As an Orenco resident and HOA board member, I can honestly say that all the rowhomes in Orenco Station are better than new. We've undergone remediation for building defects, and the building envelopes have been completely rebuilt, often with upgraded materials. ... more
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