Rates Rising! Don’t Procrastinate to Buy a Home or Repair Your Credit


Very Good Read!

Ask Carolyn Warren

Today, Janet Yellen, Chair of the Board of Governors of the Federal yellenReserve System, signaled that an interest rate increase in March is likely. The Feds expect the economy to continue to improve; and accordingly, for interest rates to continue upward on a gradual incline.

30-year fixed rates:

Last summer – 3.75%
Now –  4.375% to 4.5%.
How long will it take to get to 5%?

I think that is the appropriate question: how long until rates are at 5%?
Not “if” but “when”?

If you have been procrastinating in buying a home, waiting for flowers or sunshine, that is a mistake. Not only will rates be higher, but sellers price their homes higher when their yards are gorgeous. Statistically, bidding wars are at their fiercest in March when both sellers and buyers come out of hibernation. Be smart and beat the rush if you can.

Have you been procrastinating…

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How to Buy a House with Little to No Down Payment


Ask Carolyn Warren

Light-filled home in Seattle. 2650 sq ft. Master suite upstairs + two bedrooms on main. For more info contact Teri Barry, Keller Williams, 206-632-2636 Light-filled home in Seattle. 2650 sq ft. Master suite upstairs + two bedrooms on main. For more info contact Teri Barry, Keller Williams,
206-632-2636

Do you know someone who would love to stop renting and buy their own home? A new study says 79% of Millenials want to buy a house. This study, by Bloomberg, goes on to tell them they can’t save fast enough for a down payment. I am here to tell you that I disagree! Why?

Bloomberg’s chart shows how many years it takes to save 20 percent down.
But who says you have to make a large down payment? It is not required.

Renters, take kitchenheart!

Here are tips for buying a house when you can’t save fast enough for Bloomberg.

  • If your credit score is 720+, take a 3% down conventional loan.
  • If your credit score is 580 – 719, take a 3.5% down FHA…

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Buying a House – Which Mortgage Type Is Best For You?


Cognita Vita

This is part two of the Buying a House series. If you haven’t read the first part, “How Much House Can I Afford?” you click over and read that one first. It’s important to know how much house you can afford before worrying about mortgages.

What is a mortgage?

Most people these days cannot afford to pay cash for their home, and I’m guessing that if you’re reading this, you are not completely established yet and/or this is your first home purchase. Luckily, for those of us that do not have the cash to purchase a home, we have the option of getting a mortgage to cover the (usually large) portion that we can’t. A mortgage is a loan that either a bank or mortgage lender gives you to help finance the purchase of a house.1

A mortgage is made up of four things: principal, interest, taxes, and…

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December 2016 End of Year RMLS Market Action Compared to National Reporting


Real Estate Advocate

2017

Well, let’s wrap it up with a summary of bullet points for 2016.  All in all, we are in a good position for the real estate market in 2017.  Whether we end up breaking more records or dropping to the middle of the pack like the many years prior, an increase of even small amounts is still an increase and; frankly, much healthier in the long run.  Portland, as well as the state, has always been under the radar for home prices hiding in the middle of the national numbers near center.  See where being in the top 3 has got us this year…

News:

  • Oregon is the 6th largest growing state according to U.S. Census Bureau—80% from out-of-state folks, 20% from new births exceeding deaths.

Pocket watch in snow, New Year 2017 greeting card

December 2016 S&P Corelogic Case-Shiller—numbers from October 2016

  • Portland at 10.3% average sales price appreciation, #2 in the Nation.
  • All 20 cities…

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Piedmont Neighborhood on a Winters Day


 

 

 













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Home Renovation Trends for Baby Boomers


Renovations Brooklyn

According to the US Census Bureau, the population of baby boomers in 2012 was estimated to be 76.4 million, which is nearly one-fourth of the total US population.

While some aging adults plan to gain new experiences in their golden year, statistics reveal that over 60% of the retirees decides to stay in their current home as mobility becomes a crucial factor in old age.

However, old age requires special care and attention to maintain health and comfort which involves various changes in day-to-day lifestyle.

Therefore, the most comfortable alternative for elderly homeowners is to undertake home renovation which includes creating and updating the home to make it more comfortable and safe for older people.

Although installing easy to operate faucets and appliance, grab bars, higher toilets, and slip-resistant floors are some primary upgrades that most retirees include in their home renovation project, one can also trace other definite…

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