What a market. Some of what CNN reports applies here locally and some does not, but no matter how you look at it, this is the time to buy if you’re so inclined. I am told by mortgage and financial planning experts that rates are not likely to go down, but only up (generally speaking) from here on out.
A professional I trust, Pat Goodell, with Prospect Mortgage, says:
“Aggressive measures to keep mortgage financing available for potential homeowners have been established now. This will help to stabilize housing prices and continue to make home ownership an affordable reality. HUD has created new programs to complement existing FHA options, and interest rates remain at very comfortable levels, fluctuating right now around 6% for 30-year fixed loans.
Appraisers in the Portland area are reporting values have leveled off – they are no longer seeing the significant drops in value we have seen in the last year.
Though there are still challenges in the economy and housing market, there are very clear steps being established to ensure that the consumer is able to purchase a home at affordable rates, while providing that the loan does not put them at risk in the future. The Four C’s of mortgage lending are important- Credit, Cash, Collateral (property), and Capacity (ability to make the payment), but there are still great programs available to allow the responsible person to get into a home with as little as 3% down, and even 0 down under the right circumstances.”
We here at the Blotter recommend that you talk to your real estate broker about the market, and assess your options if you have been thinking about buying but have been waiting for the “right moment”. We also welcome a call or an email to us too if you’re not working with anyone & want to talk about what buying would look like for you at this amazing time in real estate history.
Stay informed. Decide what is best for you. Knowledge + Discernment is the winning formula.
…….What a ride!
The Lake Oswego City Council has awarded the $830,785 contract, to Pioneer Waterproofing, Inc. Requiring specialized skills, Pioneer Waterproofing fits the bill and has met the standard for brick and masonry restoration in conformance with the Secretary of the Interior’s Standards for the Treatment of Historic Properties. Pioneer Waterproofing has also completed impressive restoration projects which include Vista House, Crater Lake Lodge, Timberline Lodge, and the Portland Art Museum.
I crunch my way to the mailbox to pick up the daily paper thrown there in the walkway, and look up half asleep at the clear blue sky feathered with white brush strokes.
Construction was completed on the new multi-use field near Lakeridge High School in the spring, the first sporting events being soccer and lacrosse. The field also accommodates football and baseball. It boasts a playing field made of plastic fibers and ground-up rubber which has excellent lasting capacity and drainage according to Gary Evans, assistant director at Lake Oswego Parks & Recreation. Neighbors’ concerns were addressed with state-of-the-art, computer-controlled, “green” lighting that uses a minimum number of fixtures and reduces energy-wasting light “spill”. The park is open until 10:00PM, but lights may be turned off by teams if they’re finished early by calling a toll-free number and entering a password. Most local leagues may use the field for free once a seasonal fee is paid.
Amenities of the 12-acre site include walking paths and access to trailheads, a beautiful 1.5 acre wetland, playground, parking lot, restroom facility and two luxurious off-leash dog parks- one is 1.6 acres and intended for larger gregarious dogs (though it is open to all dogs), whereas the other is 1.1 acres and reserved for smaller and/or timid dogs. Both dog parks include incredible fencing that is seemingly jump-, dig-, and escape-proof with double-entry gates. There are also benches and picnic tables for dog owners to relax and/or socialize, covered/shady areas for rainy or too-sunny days, water-stations, garbage cans, you-scoop-bags, and open areas for playing fetch or just letting the dogs play.
You may have noticed that the market has been changing for awhile now.
