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Home Buying in Multnomah County : Real Estate Advice

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  • Home Buying1
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Activity 491
Sun Jan 22, 2017
Mike Lewis answered:
This is an excellent question. When searching for homes and condos in a specific school district some websites allow for you to specifically search by school district. This is one of those sites http://www.dawnsellssandiego.com/search/advanced_search/ in the property details at the bottom you can select the school district that you want to search in for homes or condos and all the other criteria like price range, bed & bath count and so on.
Please let me know if I can help in any way.
Mike Lewis
The Lewis Team at Keller Williams San Diego
619-981-3918
... more
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Thu Jan 5, 2017
Andrew Harris answered:
Thu Jan 5, 2017
Andrew Harris answered:
I saw that home while it was listed - it's a beautiful place. Email me and I'll send you the sold listing which has interior photos. andy@hometeamportland.com. Thanks!
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Tue Dec 13, 2016
Derek Goude answered:
Great question Pete

An Actuary is a person that takes into account risk and uncertainty. Insurance companies use people with this background to create their software. Insurance rates are heavily weighted on location, property characteristics, and your insurance history. According to ValuePenguin, Oregon has the second lowest homeowners insurance premiums in the nation for 2016.

portlandmaps.com is a great resource of information. When you search an address you can go under 'public safety' and see risks associated with flood, steep slope, landslide, wildfire, and earthquake. There is also a breakdown of crimes in the area.

I have been a part of several transactions with homes where radon levels tested at or above the 'action' level. Oregon is one of the states that currently does not require radon testing in a real estate transaction. The fortunate part is that testing is inexpensive and the mitigation systems typically cost ~$1500. I believe that if a home tests high for radon, it should fall upon the seller to have a system installed before closing or provide a credit to the buyer.

Property condition is one of my top concerns. New construction doesn't get a free pass either. Experience has taught me where to spot potential condition issues. Home inspectors aren't free and sometimes it's better to pass on a home and keep looking. With our market being so hot, many buyers are waiving inspections and/or appraisal contingencies to have a competitive bid. I feel it is even more important in these situations to have experienced, sharp eyes on your side to notice potential issues.

Derek
5033435825 call/text

p.s. text me when you would like to chat about your other questions
... more
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Tue Dec 13, 2016
Jaymather2003 answered:
There are many programs, TALK to many mortgage professionals. However, do not have your credit run until they offer the program you need and you are ready to move forward.
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Thu Oct 27, 2016
Andrew Harris answered:
Hi there!

I noticed you posted this long ago and may have already found someone to work with. If you still need help, I'd be happy to assist you however I can!

Best,
Andy
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Thu Oct 27, 2016
Andrew Harris answered:
Hi Mark,

This is always a fairly subjective answer depending on people's opinions, but I'd see about buying near walkable areas and/or areas near public transportation. Many of the areas you'll be looking in have been experiencing great rates of appreciation, and barring any big national/int'l developments or acts of God, I'd expect it to continue to one extent or another. Let me know if you need any further help - I can get much more detailed about investments and advise on the phone or over a meeting.

Best,
Andy
... more
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Fri Oct 14, 2016
Cat asked:
I am working with a realtor in Portland Oregon but the housing market here is so insane that I started looking (on Trulia) at condos in Vancouver, WA. Seems I can get more of what I want…
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Sat Oct 8, 2016
Scott Godzyk answered:
It is something that should have been taken care of at closing. Most often a question asked at the final walk through. If it is a post office owned box, here the post office changes them for $5 ... more
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Thu Sep 22, 2016
Arturopjauregui answered:
i bought a mobile home on land inside the city just to have a place to live in case i lost everything. i paid 40000.00 for it dropped 2000.00 to rent it out for 650.00 dollars per month. its been 4 years now and i have accumulated 28800. back the house is now worth 75000.00 because i bought it as a foreclosure. so know i have 42000.00 invested but have been able to put away 28800 and also gained 25000.00 in property value totalling 53800.00 i have now bought another such property. fixing them is easy and inexpensive. i would never make that much profit anywhere else that i am aware of. ... more
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Fri Sep 2, 2016
Theboss.murray answered:
I own 6 single family rental homes in the 97230. Some are short sales, some are REOs and some are conventional. I had to put down 25% and financed the rest. I started May of 2015 and in the process of refinancing 3 of my first 3 purchased. I will take $150K from refinance and purchase 2 more. Each rents between $2K to $2.4K and positive about $5K per month. I'm a journey level tradesman, takes me 30-60 days to renovate before renting at about $100 per day in materials and supplies. This is my full time job now and love it! ... more
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Tue Aug 9, 2016
Carl answered:
For people reading this old story , don't believe the hype.
If you walk in to a room full of men and ask , who here is a real man? They will all boast and say that they are.
There is a lot of boasting from agents and lenders but they are thinking about them selves. It easy to say , well all you need is $500 and the seller will pay for this or that.
They only paint a picture perfect scenario with no other down sides or give the full scope of things.
The truth is buying a home comes with so many variables. What works for one buyer many not necessarily apply to the next. This is also true for sellers.
What they don't mention is that when sellers pay for expenses, the right conditions have to be in place.Like the type of market it is. Are you in Buyers or Sellers market ?
What these people fail to say , if the conditions are right and it's a buyers maket ,yes you could have leverge.
But what happens when Its a sellers market ??? Inventory is down , the sellers is getting a ton of traffic ,multiple offers, some offers with price increases. Does the seller need to pay for closing cost, hell to the no. You ask for closing cost , the seller will tell you to go pound sand.
What's if it's a sellers market and they need to move out fast, then they might give you a break ,if your lucky.
My point is , real estate is a huge variable you will never know what kind of sale your dealing with until you submit an offer. Providing the agent is verse with market conditions.
Also, putting all expenses aside regardless who pays for what , you need money to buy a house.
You do really think you can get a loan with no money sitting in your checking acct ??
You need to have at least 3 times mortage payments in reserves seasoned in your acct before you can get any loan.
These are the important facts, rather than bosting and leading people into thinking that you can buy a home with zero out pocket. You can get all the concession in the world ,but you need money in the bank ! Smh

Want to put $500 down emd? If i was selling my home and someone offered me that I'd be,real dumb to accept it.
As a seller l am putting my time and my money at high risk of the buyer FAILS at closing.
You better show me you have a vested interest in purchasing my home. Because if your loan gets decline at the final hour , you better believe it's gonna cost you as much as it cost me. Especially after taking my home off the market.
The truth is you can open escrow with $1 !! But as a seller I would be an idiot to a accept that.
If it sounds to good to be true , it is.
Disclosure is the name of the game, get with someone highly experienced that leaves nothing to chance.
... more
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Fri Jul 22, 2016
Marshall asked:
Hello!

I am a relatively new renter (9 months), but am already looking to invest in purchasing a house or condo. I don't have a verifiable two years of employment and I would more than…
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Fri Jul 15, 2016
Cat asked:
I am looking at buying a manufactured home in the Portland Oregon area. I am wondering if I should work with one realtor or if it works differently for these? Do I contact only the realtor…
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Sun Jul 10, 2016
Adrianne130 asked:
Looking for a hard money lender, or other lender willing to work with problem credit loan with 20% down for purchase of a home for owner occupy -
not invest and flip.
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Fri Jul 1, 2016
Sally Grenier answered:
What do you mean "release earnest money"?? The listing broker or title company should be holding your earnest money. It should never be given directly to the seller. If you want to terminate your contract, and keep your earnest money, you'll have to read your contract. Where is your REALTOR in all of this? Why not ask them? Too many unknowns here and nobody here is familiar with your situation or your contract. Ask your agent! ... more
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Tue Jun 21, 2016
Scott Godzyk answered:
FIRST the listing agent looks out for the seller. You would need a buyer agent who is not the listing agent to look out for your best interests. The listing agent can be a dual agent and therefore would not be looking out for either of your interests. ... more
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Sat Jun 11, 2016
Mdeen1 asked:
My rental listing was created in Zillow:
http://www.trulia.com/rental/3230754313-1926-W-Burnside-St-811-Portland-OR-97209?_ga=1.251111173.2006902454.1462507516#photo-3

I updated the…
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