Vk, Home Buyer in Portland, OR

(First-time home buyer) Would appreciate any opinions on Arbor Oaks in the bethany area

Asked by Vk, Portland, OR Wed Aug 20, 2008

Issues: Community, Area, House Quality, Pricing
Considering the market is still soft, what kind of negotiations are possible?

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Tom Inglesby, Agent, Portland, OR
Thu Nov 13, 2008
Vk, an up date on Arbor Homes. They have a promotion going right now that you can get up to about $7500 off the list price or they will do a buy down on the interest rate or your can get closing costs back from the builder. When this allotted money is gone it is done. This goes until the money runs out. If you like the floor plan but don't like the prices you can get the same exact floor plan at Murry and Scholls Ferry Arbor development for $20,000 less in this location instead of Bethany area.. Arbor is the top selling builder in the state and builds a great product for the money. You have to look at each sale separately in regards to what it is worth today building and location and floor plan. I think there is always room to negotiate but the terms and motivation of the seller is the most important. If you wait rates and loan programs are going to change Oct 1, 2008. New rates will be off your credit score and low down payment loans are going away so now is the time to buy. Get an ABR licensed realtor to represent you and make an educated offer. Good luck.

Tom Inglesby, Broker
RE/MAX Equity Group Inc.
ABR.CRS, CLHMS, eco Broker EA S.T.A.R.
0 votes
Scott, , Portland, OR
Wed Sep 24, 2008
Mr. Knudsen, is your Buyer Broker option like a rebate that they give in Washington?
0 votes
Dirk Knudsen, Agent, Hillsboro, OR
Thu Aug 21, 2008

I am the top sales agent in the Bethany area and own the Re\Max up here. I love Arbor Oaks! Arbor Homes has been doing a very good job of carefully managing their sales and are not building spec homes. They are preselling quite a few homes up there and have had just a few openly for sale. They set their prices and will generally not make big concessions as it is a trust and committment thing with their other buyers that they not under cut people after the fact. On an existing home I htink you can get 1-3% negotiation. On a pre-sold I would saythey will generally be pretty upfront about what they can do or are willing to do.

If you use our Buyer Broker option I can generally negotiate another 1% off for you. The market is not that soft in Bethany and it has remained as one of the hottest markets in the area! It is great place to live and when that new school opens next door you can forget about getting big reductions. They have dropped prices in there and it seems their values are about right on!

Hope you make your move. The interest rate sare going up. If you wait and the rates go up 1% it will cost you $100K or more over the life of the home. So waiting to see if you could save $20-$40K makes no sense at all.

Let me know if I can help!


Dirk Knudsen
#1 Rated Re\Max Team in Oregon
Web Reference:  http://www.nwhomcenter.com
0 votes
Janeese Jack…, Agent, Portland, OR
Wed Aug 20, 2008
I have been showing two different sets of buyers in the Bethany area recently and like the Arbor developments! The Bethany area has continued to hold it's value (relative to the overall market) and has a high concentration of professional occupants. Like a lot of NW Washington county, it's popularity is fueled by Intel, Nike and other high-tech in the area! But, the market is definitely still quite soft and there are absolutely some considerable negotiations going on in our marketplace. Of course, how much is totally dependent on the personal situation of the sellers. Some people have owned their home long enough to have substantial equity and others do not. Many are more motivated by circumstances such as a job transfer or additions to the household or, perhaps, making two house payments. With the help of a good real estate professional, you can find out a lot of this information and make an educated guess as to what range offer might work. But, the bottom line is that you never know till you try...
Janeese Jackson
Principal Broker, Real Estate Resource
0 votes
Lana Lavenba…, Agent, Grants Pass, OR
Wed Aug 20, 2008
There are many types of negotiations possible. First of all, if you are a cash buyer that can close escrow quickly you are able to put in a strong offer at maybe a cheaper price...but in all honesty...you need an agent that is very familiar with the area and prices. The property you might be looking at could be priced to sell and asking the seller to sell it to you at a cheaper price may just turn them off...so my advice - get an agent that knows the area, is willing to make sure they can give you comparables and help you through the process....
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