Eugene, OR Real Estate News

By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
There is quite a bit of concern regarding the elimination of the Down Payment Assistance programs and almost all other 100% purchase programs, so I want to spend a bit of time highlighting another 100% loan program. To my mind, this is the best 100% loan program, the VA loan. VA's Home Loan Program is for veterans and active duty military personnel and certain members of the reserves and National Guard.  VA's program provides an excellent product and benefit for those individuals who have served or are serving to protect our families and our nation, as well as giving them a form of financing that will allow real estate professionals to sell more homes. To be eligible, a veteran must only have served 90 days of more of active duty. If you are unfamiliar with the program, there are severa...
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By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
Hi everyone. Just so you don't think that I only operate in cyberspace, I thought it was time to do a little self awareness posting. To begin with, I work with Alpine Mortgage Planning, a northwest owned mortgage banker with headquarters in the hinterland of Lake Oswego, Oregon. For those out of state, it is one of the cities that make up the Portland Metro area. My office is is Darth Vader Number 1 as we have always called 1200 Executive Parkway. The building is so named because it sort of looks like Darth Vader's mask in Star Wars. It is an interesting structure, being bigger at the top (significantly) than it is at the bottom. It is also faced with glass, glass and more glass. The only problem with this is that it is quite warm on my side of the building in the morning when the sun i...
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By Bobby Stevens, Realtor, Eugene, Oregon
(Windermere Real Estate/Lane County)
I'm in the habit of asking my clients for ongoing feedback on my performance, and after a close I request their input on what worked well for them, what I could do to improve my service, and if they could provide a short testimonial I can use in my marketing.  I just assisted in the close of a wonderful condo - I was actually the "co-agent" handling the marketing, coordination, and customer care for my principal broker who secured the listing and handled the contract negotiation. Imagine my thrill and satisfaction when I recieved the following in email after the sale recorded: "This summer Bobby Stevens represented us in the sale of our home. We were exceptionally pleased with the service and consultation he provided during that process. In reflection, the following actions and personal...
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By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
  SO, WHAT'S NEW WITH FHA?? Say "good-bye" October 1st ••          Seller funded D.P.A. (Down Payment Assistance) ••          Risk Based Premiums (Higher amounts for lower credit) LOAN AMOUNTS! ••          Temporary loan limits in effect until 12/31/08 ••          New loan limits 1/1/09 based on 115% of median sales price ••          Announced 4th Quarter (all we can do is guess right now) ••          New floor $271,050 will not change (Possible Lane County loan limit) ALSO IN THE NEW YEAR ••       Borrower contribution 3.5% starting 1/1/09 ••       Elimination of max LTV! (The 3.5% can all be closing costs) ••       FHA Condo Project Approvals performed by the Lender MOST PEOPLE KNOW THE BASICS ••          203(b) - Single Family ••          234(c) - Condominium ••          203(k) - Reh...
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By Terilyn Jacobs
(All State REAL ESTATE)
               When purchasing a home a buyer's agent can watch your back and help you get the best deal.  Today's market is buyer oriented but seller's will still try and take advantage even while their begging you to, "Please for God's sake buy my house".  Most people that are looking to buy will scan the Internet for properties and then call the agent that is listing the house for sale.  Not a good idea.   The listing agent has a vested interest in selling that house.  If they represent both sides of the transaction they are required to keep information from both parties involved, the buyer and the seller.  This is perfectly ethical by real estate law since they are representing both of you to the best of their ability.   However it is not in the buyer's best interest.  As a buyer in...
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By Bobby Stevens, Realtor, Eugene, Oregon
(Windermere Real Estate/Lane County)
More big flavors in Eugene's Whiteaker Neighborhood. I used to work in the Whiteaker, and the New Day Bakery was my frequent go-to for a quick but healthy breakfast before hitting the shop in the morning. You can count on organic ingredients, a variety of toothsome baked goods and strong coffee. Lunchtime brought out the hearty soups and sandwiches, and I don't think I ever went away hungry.           I like to meet up with friends after work for a Pint and perhaps a slice of pizza, and for that, there's no better place than Sam Bonds Garage. You will never want for conversation when you belly up to the bar, as there always seem to be some colorful, quintessential Eugeneans hanging out and expounding on topics ranging from revolution to evolution. Conspiracy theories anyone? :-)   Head ...
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By Bobby Stevens, Realtor, Eugene, Oregon
(Windermere Real Estate/Lane County)
Eugene's Whiteaker neighborhood may be small, but it's full of big flavors. Thai food is one of my favorites, and there are a number of good sources in Eugene. I've always preferred Chao Pra Ya. They've recently expanded and remodeled, but the delicious food remains the star of the show. Last night I tried the Pepper Salt Squid for the first time, and I wish I hadn't waited! Lots of good sized pieces of tender yet crispy tempura battered squid, with onions, green and red peppers in a sweet and tangy sauce. The Pad See Yew with tofu is a favorite of my wife and daughter, and the curries are great as well. The spice can be on the hot side, so go with mild if you can't handle the heat.   Equally savory, but worlds apart in character, is Papa's Soul Food Kitchen. I must confess I stayed awa...
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By Bobby Stevens, Realtor, Eugene, Oregon
(Windermere Real Estate/Lane County)
The best real estate agents are not order takers. They don’t exist just to pound signs into the ground for sellers. Their worth to a buyer is not measured by the ability to open a lockbox. A good agent is a fiduciary. An agent worth employing owes his or her clients what are known as fiduciary duties. Huh? American Heritage dictionary defines a fiduciary like this: One, such as an agent of a principal (buyer or seller), that stands in a special relation of trust, confidence, or responsibility in certain obligations to others. Trust, confidence, and responsibility are all great virtues, but what specific obligations are we talking about? Here are the basics: Care - The Agent must use reasonable care while working for the principal. As applied to the real estate industry, that means the a...
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By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
FHA, Federal Housing Administration, is, in my opinion, the main resource of the Department of Housing and Urban Development (HUD). As a lender, they are the part of HUD I most often have dealing with because most other areas are involved in community grants and the like. FHA insured loans come in several varieties, from the most well known, 203(b) to the more obscure 203(h). The 203(b) is used for purchase and refinance in the normal course of affairs. The 203(h) is mortgage insurance for disaster victims. I am going to go through some of the different programs and how they can affect borrowing programs in our area of Eugene and Springfield and Lane County. To begin with, FHA does not make loans, they insure loans. Whether it is a 203(b) or a 203(c), condo loan, FHA gives the lender th...
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By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
Got a wonderful, inspirational e-mail today that includes a link to a short movie entitled, "Finish Strong." It is about people that have gone through problems but worked their way back to "Finish Strong." Since the producer said to share it with my friends and family, I couldn't think of a better place than here,  or better people to share it with than with my friends at Active Rain. We are going through adversity right now and it may or may not last for some time in the future, but the important thing is that we persist and preserver and "Finish Strong." Click on the graphic below to view the movie. I hope you enjoy it. I certainly did. Enjoy the music with the movie. Who doesn't like "Eye of the Tiger." I may put it on a continuous loop on my computer just for the music.
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By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
NEDCO, Neighborhood Economic Development Corporation, in Eugene and Salem is a non-profit Community Development Corporation that helps neighborhoods and families. NEDCO is a HUD Approved Housing Counseling Agency and has help hundreds of people prepare for home ownership. The Springfield Home Ownership Program and the Eugene Homeowner Assistance Program both require counseling and training prior to receiving one of their no interest loans. I have had my clients attend the course and come away much more prepared for the huge step of purchasing a home. The program they offer is called the "ABC's of Homebuying." It is a one day class designed to help understand the entire home buying process.  They also offer the Threshold Homeownership Education & Counseling Program (http://www.nedcocdc.o...
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By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
I have been reading everything I can find about the new housing bill and trying to find out what everything means. How are we going to help all of these people that are upside down in their homes because of falling real estate values? How do we get them into so much better program because of unscrupulous lenders? How do we help them make their payments when they can't now because the rate just went up when their ARM reset? The answer seems to be FHA Secure. The end all, cure all of the Real Estate world. Tie it in with a "Short Sale" refinance and all the troubles are over, right? Not so says this voice from the wilderness. The stories I am hearing is #1, the FHA Secure is not that easy to get. Yes, HUD will insure the loan, but there are a lot of provisions for buyback on that insuranc...
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By Team Thayer Key Realty Group Inc, We will sell your house faster for more money
(Key Realty Group Inc.)
Completely remodeled 20's beauty retains original charm & character. Many parks & rest within walking dist. Includes 1344 sq ft unfinished basement, built-ins & refinished wd flrs. New: vinyl wind, tile flrs in kitch-bths & utility, silestone counters in kitch, cabinets, stainless appliances, paint in & out, heating & air cond, light fixtures, insullation, electrical & plumbing.  This would make a great home office or business. 2538 Sq ft 6 bedroom 2.5 baths,Built in 1925, Price: $574743 Justin Thayer Team Thayer www.teamthayer.com Keller Williams 541-543-7287
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By Thomas Hargreaves
(TriStar Financial Services)
          It has been a long time coming, but baseball is back at the University of Oregon.  Back when I was in High School in the mid 70's, I used to enjoy going to the University of Oregon Baseball games at Howe Field.  Howe Field, located right next to Mac Arthur Court is a centerpeice on the University of Oregon Campus.  From the seats you could see Mac Court as well as the Famed Hayward field, the location for several Olympic Trials.  For years the University of Oregon has been the only team in the Pac-10 conference to not have a baseball team.  Last year the new Athletic Director decided it was about time.         I want to post  a Picture of some of the overhauls that will be happening over the next few years in Eugene, Oregon.  A new Basketball Arena for the Basketball team, and...
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By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
  I don't think there is anything that says EXCLUSIVELY EUGENE more than Saturday Market. And, what describes Saturday Market more than a street musician with a fan watching in a tie dye tee shirt?     The Eugene Saturday Market is held every Saturday from April 5 to November 15, rain or shine. The venue is at the intersection of Oak and 8th Streets. It is open from 10 a.m. to 5 p.m. It is the "flavor" of Eugene. Other places, like the small community to our north, Portland, may have Saturday Market, but it definitely isn't Eugene.   Tie dye is (at least by local legend) is EXCLUSIVELY EUGENE and was founded here. True or not, it definitely is an art form here. Colors, colors and more colors are available in tie dye. You really aren't "Eugene" until you have at least one tie dye outfit...
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By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
There certainly aren't any of the people reading this posting that has ever spent any time in a bar talking and drinking with the patrons. Since I grew up watching, picking up and waiting for my father in several, I have some experience in the bar mentality phenomenon. It is really amazing the things that you can see when you are alert and not fogged while spending your time in the local watering hole. Of course, sometimes there are things to be said for not noticing what is going on too. One of the first things that I learned at my father's bar stool is: don't play the others guy's game. It became pretty obvious that if someone proposed a bet about something for drinks or the like, the one proposing the bet generally had a reason for suggesting that particular bet. For instance, I knew...
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By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
Yesterday marked a pretty bleak day for the Eugene economy. For the news, please check out the following news release: TITLE Hynix Semiconductor Inc. Announces Closure of Eugene Fabrication Plant DATE 2008/07/24 Seoul, July 24, 2008 - Because of short- and long-term market conditions, which include a steep reduction in the price of memory chips worldwide and accelerated technological migration towards next-generation production standards, Hynix Semiconductor Inc. has decided to close its Eugene fabrication facility. The production of the fabrication plant will be eventually stopped by end of September. As part of the deliberations that led to this shutdown, Hynix Semiconductor Inc., the parent company of Hynix Semiconductor Manufacturing America Inc., is seriously considering options to...
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By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
I have had something in my craw for some time and it has to do with people that are both Realtor and Loan Officer. I don't know about other states, but in Oregon it is perfectly legal to represent the client as both the Realtor and Loan Officer. If you throw in both listing and selling Realtor, they you really have an interesting mix. I have read posts from Realtors that are concerned about the appearance of conflict of interest when representing the buyer on their own listing and can't begin to understand how they can not be concerned about, at least, the appearance of conflict if they represent the buyer as their loan officer too. Maybe it is just me, but how can this be a good situation? I used to work for a captive mortgage broker (one owned by the Real Estate Company), and there we...
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By Bobby Stevens, Realtor, Eugene, Oregon
(Windermere Real Estate/Lane County)
My life for the last ten years has been punctuated by a series of home improvement projects, and while the results are ultimately satisfying, the process can be filled with surprises (not the good kind), and costly (concealed conditions anyone?). So it is with excitement that I report on one of the most recent enhancements to our century old farmhouse outside of Eugene – exterior accent lighting! My designing wife called from the warehouse store the other day excited about a great value on a brushed nickel yard light set - six etched-glass accent lights and two halogen spots of decent quality for a great price. An hour later I was unloading three cartons from the back of our Subaru and, with the help of our four year old daughter, unwrapping and assembling the contents. It was easy to p...
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By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
OK, there are people that will say that I stole this from Jeff Belonger (http://activerain.com/blogsview/600662/-Kiddie-Condo-FHA) and they would be absolutely right. However, Jeff doesn't post to the Oregon sites and this information is just too good not to forward. I have done this in the past and it really works. Thanks Jeff for your hard work on this information. Are you always looking for a great investment?  Do you have any kids going to college or in college, especially the University of Oregon?  Well, don't let the picture to your right scare you. Just as many of us can relate to the movie Animal House and James Belushi, especially in Eugene where Animal House was filmed, we all know that is not what college is about. But, it is darned expensive. How about another way to help pa...
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