News & Notes

What’s Happening in Lake Oswego? ~

 

* Open City Hall Re: Tri Met Changes –  TriMet is going through a budgeting process, and there are potential impacts to Lake Oswego citizens using bus lines 36, 37 & 38.   CLICK HERE to access information and give your input!

* Capital Improvement Plan Open House – March 8th 5-7PM, City Hall~  See what projects are included in the Fiscal Year 2012-13 to 2016-17 draft funding plan. Some include repaving A Avenue and Kerr Parkway and completing Rosemont Trail. There is also talk of correcting water drainage issues on Rockinghorse Lane. Call Anthony Hooper at 503-697-7422  for more information.

*Adult Community Center (ACC) Happy Hour/Open House ~  Sunday, March 18, 1-4 PM, 505 G Ave – Fun!  Come join other Lake Oswegans and lean about new programs while listening to the musical stylings of  the Old Time Fiddlers on the upper level and singer-guitarist Tom Stroud in the café  (tell Tom I said “Hi” in case I can’t make it : ). CLICK HERE   for more information.

* Daylight Savings Begins! – March 11th, 2 AM  ~  Make sure to move your clocks ahead by one hour so that you are on time for the ACC Happy Hour… and of course on time to work!

 

Some Thoughts on Real Estate  ~

 

* Short Sales and You –  Short Sales have become part of the landscape in real estate. If you become involved in a short sale transaction, make sure to go over the details with your Realtor.  There are differences in how many are presented in RMLS after a Seller accepts your offer. Specifically, sometimes the Listing will be held in the “Active” section until the lien holder(s) (banks) come to agreement with you.  Sometimes you can achieve a change to “Pending” status which reduces the chance of others offering during your open transaction.

Earnest Money Checks – Again, in short sale transactions most Buyers are advised that they are likely in for a long haul as they wait for responses and red tape to be processed.  ***This does NOT mean that your earnest money check can be less than “good” when you hand it to your Realtor.  Your earnest money check will be held (usually by escrow, but sometimes in a client trust account), but in any event, essentially “cashed” and deposited in a safe place awaiting mutual acceptance with the lien holders, Seller and you.

Loan Officers – When setting out to buy a home, talk with your Realtor about options for reputable Lenders.  A good Lender is a crucial asset in the home-buying process.  A less-than-stellar loan officer can throw the entire train off track. Things you might assess include:

  • Expertise,
  • Types and Sources of Funds,
  • In-House Lending Options,
  • Availability and Accessibility of the Loan Officer (i.e., if you call on Saturday or Sunday and need a customized Approval Letter, will he/she be there for you?),
  • Is there a Good Relationship between your Realtor and the Loan Officer (remember… we are all humans, and loyalty comes into play naturally when a relationship exists…. that can work to your advantage when the going gets tough and perhaps extra attention or late hours are required to get the job done), and lastly,
  • Is Mortgage Lending what they do “Primarily”?   (Sometimes, especially in banks, someone can be charged with handling loans as a side-duty in addition to many others…..  You want an expert.)

Hope this information is helpful!

Very Best,

Linda

 

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