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Home Buying in 97267 : Real Estate Advice

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  • Home Buying0
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Activity 260
Sat Jun 23, 2012
Mike Hensley answered:
Mel: the way the original offer or counter-offer were written and accepted by all parties to the transaction should dictate the closing, the possession and the pro-ration of the closing cost attributed to the sale. If the seller stipulated that they required possession after closing - and you agreed at the time of acceptance, they would be correct in now asking to stay. If that was not discussed and agreed to by all parties, in writing, you should contact your agent and ask them to contact the Principal Managing Broker of the seller, to intervene in this issue. The delayed possession after closing is a common practice in some states where closing is handled by attorneys and not the Title companies - and is sometimes used as a negotiation tool when offering a lower price than the list price of a property but, again, it must be agreed to at the time of offer acceptance. I hope that this helps and you are able to find a common understanding and close on your purchase. Regards, Mike ... more
0 votes 12 answers Share Flag
Sat Nov 8, 2014
The Stephen FitzMaurice Team answered:
You can find that information at www.FloatingHomesPortland.com. Easy search tool.
0 votes 4 answers Share Flag
Fri Jul 6, 2012
Suzanne MacDowell answered:
Depending on what type of short sale it is, the bank may be insisting that the agent lower the price. In a HAFA short sale, often the bank will send an appraiser and dictate the asking price to the agent and the homeowner. In my opinion, this turn of events is potentially good news, potentially bad news for you. Obviously, the bank is trying to get other offers at this point, otherwise why lower the price. However, if they don't get other offers within a fairly short period of time, that will make YOUR offer look more attractive. After all, time is money and the sooner they sell the home the sooner they get the bad asset off their books. Two months is not a long time as short sales go. Seems to me that you have a choice, stick to your guns and see what happens or raise your price and end the suspense. ... more
0 votes 3 answers Share Flag
Mon Jun 18, 2012
Tim Moore answered:
All RE agents are not buyers agents, those working with a seller are sellers agents. I rarely see a buyer anymore that does not use a buyers agent.
0 votes 7 answers Share Flag
Wed May 23, 2012
Jessica Berger answered:
You can ceretainly find homes in the Portland area in this price range. It all depends on how big of a house you are looking for, a 2 bed/ 2 bath home will be quite simple to find but 5 bed/3 bath will be much more work. You may also want to look in some of the suburbs, Beaverton and Tigard are both great areas with only a short drive into Portland, prices are a little lower here also. If you are worried about crime, This is a great way to do some research--http://www.gis.ci.portland.or.us/maps/police/ you can just type in the address of the house in question. I would also be happy to discuss different neighborhoods with you and suggest some areas that will be best suited to your needs and price ranges. Let me know if I can help! ... more
0 votes 11 answers Share Flag
Wed May 16, 2012
Paige Abu-Nawwas answered:
If your working with an agent I would ask the agents advice but you are not locked into anything with a short sale until both banks have accepted the offer. You can back out but is it worth backing out of? If you don't have an agent I would love to help you. Call 971-244-2202. ... more
0 votes 10 answers Share Flag
Fri Mar 23, 2012
James White answered:
Ed,

I'm a Certified Investor Agent Specialist. I personally have flipped homes over the years. I work with investors and in fact one is closing next week where my client will net between $18 and $27k after rehab.

Give me a call and we can discuss. I need further details from you before we start working together.
... more
0 votes 9 answers Share Flag
Mon Jun 18, 2012
Jean Silver answered:
Any of the "close-in" areas of Portland will appreciate, and most have not lost much value in the recent downturn. My favorites are Clinton, Beaumont, Momtavilla, and Buckman/Kerns on the east side, and Multnomah Village, Fulton Park, and the Pearl on the west side. Check out my website for stats on many of these. Call me for a tour if you aren't already working with an Agent. ... more
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Fri Apr 6, 2012
Aliz Smith answered:
The ability to represent your client professionally but also in a bull dog manner. Being the kind of agent the client would be if they had a license. Knowing what things to point out to a client when looking for a house, good and bad. Returning phone calls promptly and making sure the contract the client is about to enter in, is iron clad and a protection for their client even if it may not be for the seller. Internet presence & knowledge is very important in today's market.
Below is my professional recommendations from not only clients, but other agents I have worked with and short sale negotiators I have pushed around..
... more
0 votes 8 answers Share Flag
Mon Mar 19, 2012
Tom Inglesby answered:
The process is just like buying a house. Get pre approved and write an offer. YOur agent presents the offer to the seller and if the seller agrees to the terms it is sent to the bank. Now the hard part for most buyers is the waiting and no response from the bank. You don't need any earnest money except a note in most cases or an inspection until the seller and bank agree to the terms. It is getting better with a few banks but in most cases you will have to wait at least 2-3 months for a reply and most buyers cannot wait or do not wish to wait that long because you have nothing that says even if the bank agrees that the seller in the end will sign the papers since sometimes the bank will go after the seller if they have a second and want to seller to agree that the bank can come after them in the future. Then seller decides to wait it out and let it go to foreclosure and live in the house for free until they get evicted so the buyer waited many months for nothing. If you have the time you can get a great deal many times because a short sale will sell for less because of the time issues. Work with a CDPE (Certified Distressed Property Expert) short sale specialist they understand the buying process. I would still keep looking because you can with draw your offer at any time and many buyers end up doing this if another house comes along. Right now buyers will be looking to get a loan lock and close with FHA since the loan rates will go up April 1st witn all FHA loans so they are looking to get a lock on the loan now to save money every month in the future. Good Luck.

Tom Inglesby, Broker
CDPE, ABR,CRS
RE/MAX Equity Group
... more
0 votes 5 answers Share Flag
Mon Mar 19, 2012
Dave Sutton answered:
Hi Just Looking from SF (I left Walnut Creek for Portland 18 months ago and love it here)

You're smart to ask, and believe it or not, your friendly Realtor is not your first stop on the road to home ownership. Check my blog post at http://www.davesuttonhomes.com/blog/2012/01/29/whats-the-first-thing-to-consider-when-home-shopping/ for all the details. ... more
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Sat Mar 3, 2012
Melina Tomson answered:
Negotiable with whom? The lender, the seller?
0 votes 8 answers Share Flag
Mon Jun 18, 2012
Marvin Von Renchler answered:
Lets throw the amount of paperwork into this, though its not really a big deal. For years Ive seen faces glaze over at the paperwork, lol

I think Temara is spot-on. Its not easy to find a home now. Sellers have no equity and are out of the market. Some would be sellers cant afford to look for larger or smaller homes to fit their changing lifestyles, so they are just repairing and hunkering down. The sub contractors are again making great money from remods and repairs.

Some time ago I would have said payment shock but rents are so high and loan rates so low---thats not a concern now.
... more
0 votes 2 answers Share Flag
Tue Feb 21, 2012
Brandi Erskine answered:
Well, the only con I can think of is that if something breaks there's no landlord to call. All fixes are on your dime

Lots of pros- since prices have dropped many times the house payment can be cheaper than your rent plus your interest is tax deductible, pride of ownership and I'd think it would be better on your dating resume that you are a homeowner! :) oh, and good'ol fashioned appreciation! ... more
0 votes 9 answers Share Flag
Sun Feb 5, 2012
Tom Inglesby answered:
Anna, you came into the Portland area with your search of 97225 which is 10 miles west of downtown Portland. You did not mention price but SF is very expensive. Depends where you work and how much time you want to spend commuting to work. If you go back on this web site and search these there zip codes they are all for SF. 94110,94131,94122. Then you can contact some agents with a list of questions that you have. Good Luck to you.

Tom Inglesby, Broker
RE/MAX Equity Group
Portland, Or 97239
... more
0 votes 1 answer Share Flag
Wed Feb 1, 2012
VM answered:
Earnest Money is money you put down to show that you are serious and binds you to the contract, should you pull out for a reason that does not comply with the terms of the purchase contract, you void your earnest money. If you are putting an offer down on a property that is 4 months from being finished, the seller needs to make sure you are committed to the deal. This is definitely a question to ask your agent because I am sure there are more specific details pertaining to this contract but earnest money is a normal in real estate transactions. ... more
0 votes 7 answers Share Flag
Mon Jul 8, 2013
VM answered:
I would start interviewing agents that advertise as relocation experts, you need to find someone that can get to know your needs personally and has experience in relocating families.. If you follow this link, these are all relocation agents with Keller Williams Realty, you could start there and see what you find, I hope this helps: http://www.kw.com/kw/AgentSearchSubmit.action?firstname=&lastname=&city=Portland&stateProvId=OR&zip=&specialties=Relocation&designations= ... more
0 votes 13 answers Share Flag
Sun May 12, 2013
Linda Heinrichs answered:
I do not have anyone right now, but you should check Craigs List - everyone leasing or selling is on there. Is there a reason you are not purchasing? Lots of great programs to help buyers get into homes and rates are unbelievable at 3.88%. ... more
0 votes 9 answers Share Flag
Sat Jan 21, 2012
Aliz Smith answered:
It really depends on what type of a listing it is, i.e. Short Sale, REO, traditional listing and how motivated the seller/bank is. If there is a particular one you have in mind, I can run a net for you and see what their bottom line is. There is a formula to it all!
Aliz Smith, Broker
Short Sale Speicalist
503-849-1775
FRED Real Estate Group
... more
0 votes 13 answers Share Flag
Fri Dec 9, 2011
Bill Eckler answered:
CJ,

The fact of the matter is that too many sellers feel that the "winter season" for selling homes is a lost cause. It is true that the volume of sales typically drops during this period but nothing could be further from the truth about it being a lost cause.

At this time, buyers are driven by driven by value, opportunity, and NEED. The one constant is the need of the buyer. Buyers that are motivated and have need will be searching for value and opportunity regardless of what the season.

By viewing the market as being "thin pickings" and removing yourself from keeping up to date with opportunities you will likely be correct. On the other hand, by maintaining a positive outlook and continuing to keep yourself updated with the local market you just may be able to find that gem......a home that meets your total needs, in the right location, and being offered at a price that you just can't resist.

Stay in the game.....it can still happen!

Good luck,

Bill
... more
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