Eugene, OR Real Estate News

By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
Be careful, I just received this e-mail and I know it is a SPOOF. Sunday, July 20, 2008 5:55 PM From: "service@irs.gov" Add sender to Contacts To: undisclosed-recipients  Over 130 million Americans will receive refunds aspart of President Bush program to jumpstart the economy.Our records indicate that you are qualified to receive the2008 Economic Stimulus Refund.The fastest and easiest way to receive your refund is bydirect deposit to your checking/savings account.Please click on the link and fill out the form and submitbefore July 25th, 2008 to ensure that your refund will beprocessed as soon as possible.Submitting your form on July 25th, 2008 or later means thatyour refund will be delayed due to the volume of requests weanticipate for the Economic Stimulus Refund.T...
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By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
HERE'S THE INSIDE SCOOP ON HOW TO DO IT RIGHT!First: make sure you are working with an experienced, professional loan officer. The largest financial transaction of your life is far too important to place into the hands of someone who is not capable of advising you properly and troubleshooting the issues that may arise along the way. But how can you tell?Here are FOUR SIMPLE QUESTIONS YOUR LENDER ABSOLUTELY MUST BE ABLE TO ANSWER CORRECTLY. IF THEY DO NOT KNOW THE ANSWERS...RUN...DON'T WALK... RUN...TO A LENDER THAT DOES!1) What are mortgage interest rates based on? (The only correct answer is Mortgage Backed Securities or Mortgage Bonds, NOT the 10-year Treasury Note. While the 10-year Treasury Note sometimes trends in the same direction as Mortgage Bonds, it is not unusual to see them ...
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By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
I have been telling everyone that would listen that "NOW" is the time to buy the house you want. Interest rates are great, prices have leveled off or dropped a bit (in the Eugene area), and even if the price on a $250,000 home dropped another $10,000, a rate change of 3/8 of a percent would make nearly the same payment anyway. Well, we have just seen mortgage bonds fall to their worst levels in 2008. We have also seen rates increase about 3/4 of a percent, instead of 3/8. So, has it done any good to wait? Being an Oregon boy, I was raised to hunt and fish and often watched the sportsman shows on TV. It always amazed me when someone would pass up a 5 point buck because they wanted something bigger. I hunted for food and knew that the 2 point buck was probably better eating anyway. So, w...
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By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
I know that as a lender, I always want an accept/eligible (Fannie Mae) or an accept/accept (Freddie Mac) when I submit an FHA borrower for automated (AUS) decision, but that doesn't always happen. So, here are some things to remember about your clients that have to have a manual underwrite: Ratios above 31/43 will cause you problems. Look for a great compensating factor. AUS may give you a 50% approval. Be prepared to explain any gap in employment of more than one month. AUS, 6 months without explanation. Major derogatory credit requires a written explanation. Again, not so with AUS. Consumer Credit Counseling is treated like a Chapter 13 BKO and requires proof of timely payments and permission of the CCCs agency. Not so with AUS, considered part of overall score. Must provide a 12 mont...
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By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
OK gang, I want to see lots of responses to this posting. Where do you like to get your lunch? Where do you think the best value for your money is? Who has the best tasting fare? Why??? OK, here are my choices and they are not all inclusive, there may be others. First, for the best value, no place in the area offers a better one than Costco. Where else can you get an all beef quarter pound hot dog and a soda for only $1.50. Plus you can add your own toppings, including sour kraut. So, there is value #1. I think value #2 is also at Costco. You can get a 3 pound rotisserie bar-b-que chicken for only $5.99. Add a bag of chips and you can feed 3 or 4. Or just feed yourself and use the rest to make sandwiches or Caesar salads. Next on my list of great deals with good taste, would be Sukaru i...
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By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
I have received comments lately from Realtors about how they read that jumbo loans were hard to get. To this, I have to answer in the affirmative. Jumbo loans are more stringent in their underwriting than they were just about a year ago. The loan to value is lower than it was a year ago. The interest rate is higher than it was a year ago. The number of lenders offerring jumbo loans is lower than it was a year ago. With all of that, the good news is that there are still jumbo loans available. The cut off point for jumbo loans is now different depending on where you live. In Lane County, jumbo loans still start at $417,001. In the Portland and Seattle areas, that number is higher. These areas also have higher FHA limits. But lets talk about jumbo loans in Lane County for now, the only dif...
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By Bobby Stevens, Realtor, Eugene, Oregon
(Windermere Real Estate/Lane County)
In the early days of our nation the practice of Real Estate (along with most other professions) was only minimally regulated. Back then, Real Estate agents typically only represented the interests of sellers. For purchasers of Real Estate it was literally caveat emptor (buyer beware). The industry has come a long way since those days, and the National Association of Realtors (the worlds largest professional association) maintains and enforces a strict code of ethics for its members – known as REALTORS. These ethics, and the supporting standards of practice were created to protect the interests of buyers and sellers of Real Estate. By law, Oregon Real Estate agents must provide a copy of the Oregon Real Estate Agency Disclosure Pamphlet to represented parties at first contact. The agent ...
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By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
Many years ago, if you borrowed money from someone, you shook hands on the transaction and that was often the extent of the deal. Then things started to change, not necessarily due to a lack of trust, but in many ways that was the final result. I remember when I started in the mortgage business, back when we used stone instead of paper. Seriously, when I started, I was told that it would only be a few years before the whole process would be paperless. That was a couple of decades ago, so a few years have stretched to a score of years to use Lincoln's terms. The funny thing about this is that there are probably 15 more documents involved with a mortgage loan today than there was back then. So instead of going paperless, we have gone papermore, and there isn't a lot we can do about it. Ho...
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By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
Are you one of the people that took a sub-prime loan because it was easy? Are you now in trouble because the loan payments are progressing more rapidly than your ability to pay? Are you one who the FHA Secure loan was designed to help? If you are, contact me today. If you are worried about this happening in the near future, you should still call me today. If your payments were made on time prior to the adjustment being made, you may qualify for an FHA Secure loan even if you are delinquent today.  
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By Bobby Stevens, Realtor, Eugene, Oregon
(Windermere Real Estate/Lane County)
One big challenge for homeowners is finding the right company or person to work on their homes. Just getting a call back can be difficult, and the best contractors are booked in advance. Look to your Realtor for help here. We refer and employ many contractors in the course of our business – let us use our relationships to your advantage. The issue of unlicensed contractors has been getting a lot of press in Lane County lately. A Contractors license means that a minimum of one person in a company has passed a state exam (primarily covering business management and compliance with law), and that the company can qualify and pay for a bond and liability insurance to protect the homeowner. It makes no attempt to ensure quality of any trade. Lots of people do their own work, or get help from f...
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By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
Every year the Eugene/Springfield area Rotary clubs sponsor the Great Rotary Duck Race to fight child abuse in Lane County. This year's constest will be October 4, Alton Baker Park, Eugene OR. In 1988, the incoming presidents of the Eugene/Springfield Rotary Clubs agreed to have a community-wide fundraiser and to make a difference in our communities. The Duck Race was unanimously adopted by the area Rotary clubs as a fun vehicle to attract and hold public attention and support. The proceeds of the first two races were earmarked for the Community Substance Abuse Consortium. The following years, intervention and prevention of child abuse was the rallying cry. The annual Duck Race in October has become a great event in the area with the involvement of hundreds of Rotarians making it possib...
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By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
I did an earlier blog on down payment assistance programs (DPA) and how they can be used to help first time homebuyers get into their first home, especially with the tie in to a FHA loan. HUD has been trying to get rid of these programs for some time and nearly got it done before Nehemiah took them to court and got an injunction stoping the rule from closing down the DPAs. Now, a new rule has come up that will effectively close the DPA loophole. To stop this for happening, please follow this link to Nehemiah where you can tell your story about how DPAs have helped you or your clients get into their dream home. We have about a month to keep this rule from going into effect. Please be active in this call to arms and forward it to everyone you know that can help: http://capwiz.com/nehemia/...
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By Fred Chamberlin, Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant
(Guild Mortgage Co - Oak Harbor WA)
According to one of my information programs fixed mortgage rates are down slightly this week over last week while adjustables are up slightly to no change. At the same time, both of them are down substantially from last year at this time. Continued pressure on the economy may continue to drop rates. It is my feeling the biggest wild card out there is energy. If oil starts up again and fuels (pun intended) inflation, we could see bond sales falter. If that happens, rates will go back up. If, however, oil prices stabilize and the economy sees a leveling, and the Fed increases the discount rate, bond prices could go up bringing rates down. It will continue to be an interesting market. Hang on for the ride.
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By Jose Delgado
(Opes Advisors, INC.)
Attention all you Carlos Mencia  fans, I have some great news for you! Mark your calendars for October 8th, 2008. Carlos Mencia will be coming to Eugene. Carlos will be at the Hult Center for the Perfoming Arts in the Silva Concert Hall, show starts at 7:30 p.m. Get your tickets now before they are sold out! I've got mine do you have yours? I'll make it easy for you, click here to get your tickets.  
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By Bobby Stevens, Realtor, Eugene, Oregon
(Windermere Real Estate/Lane County)
Now that the days are getting longer and (hopefully) warmer, it’s a great time to get outside and care for the exterior of your home – and not just for appearances sake. Curb appeal is one of the critical factors in creating desire when it comes time to sell your home, and deferring the maintenance chores below can end up costing you a lot more than giving up a weekend or two! 1. Get the gunk off (and out).After the leaves fell in the fall you cleaned out your gutters, right? Well, most homes benefit from at least three cleanings – fall, mid-winter, and again in spring to remove storm debris. First get out the leaf blower and tackle the roof, then scoop the leaves (or if you live among the evergreens, that thick carpet needles) out of those gutters. If you don’t like heights, hire a qua...
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By Dave Koester
(Rain Dance Real Estate)
We are happy to announce the successful launch of our own new real estate blog. This is in addition to a recently added chat feature which allows customers to contact us for "Live Help" during business hours. We are using our new blog to provide consumers with more information and help them make the right choices concerning the real estate market in Eugene Oregon and our surrounding community. Just to be clear, we in no way are unhappy with our ActiveRain blogging opportunity. We will continue to seek out and use all tools which mesh with our business model.
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By Bobby Stevens, Realtor, Eugene, Oregon
(Windermere Real Estate/Lane County)
  With a 167% increase in foreclosures from 2006 to 2007, Nevada tops the list of the hardest hit states in the nation. Two Las Vegas Realtors have taken their show on the road in an effort to make a dent in the down market. Wayne Newton would be proud. Sin City Realtors Barbara and Marshall Zucker noted that 40% of all home sales in their market were foreclosures. Seeking to help their clients find the bargains, they bought a bus, dubbed it the “Vegas Foreclosure Express” and begin offering tours of repossessed homes. They screen houses, select the best, and take their clients, 24 at a time, on ten minute tours of each property – the real estate version of speed dating. Along the way, they offer onboard counseling on finance and home buying. It would appear that they are raking in the ...
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By Team Thayer Key Realty Group Inc, We will sell your house faster for more money
(Key Realty Group Inc.)
 I have a home that is now a pocket listing in Thurston at 7443 A st Springfield 97478. The house is 1768 sq ft with a 1/4 acre lot. Built in 1983 3bed 2 bath with a huge 500sq ft deck in the fenced private back yard. Over-sized two car garage, and RV parking.  I have taken it off the RMLS to and removed almost all of the Realtor fees to bring the price down to $218900. I am doing this to help some friends in trouble! You can see the house on my web site @ www.teamthayer.com  This home is in excellent condition but sold as is due to the price. All  serious offers must have proof of funds.Justin ThayerTeam Thayer Keller Williams (Eugene Springfield)www.teamthayer.com541-543-7287 
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By Team Thayer Key Realty Group Inc, We will sell your house faster for more money
(Key Realty Group Inc.)
 Another example of people getting the deal of a lifetime. Shawn and Lena Liles Just closed on a 1612 Sq ft home built in 1992 with an oversize garage insulated shed, and large deck witha view in The Thurston Hills. I negotiated $210000 all closing costs paid by seller. Starting price was $235000.  This home also had a brand new 30 year roof. The seller provided clean T&D and whole home inspection before closing. Julie Kaanapuu with McKenzie funding was able to secure them 100% VA financing. Amiee Demuth at Western title did a perfect job as usual closing the escrow. Weather your an investor or a first time buyer like the Liles family if your not buying up this market your missing the best opportunity in 30 years.Justin ThayerTeam Thayer Keller Williams (Eugene Springfeild)543-7287www.t...
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By Team Thayer Key Realty Group Inc, We will sell your house faster for more money
(Key Realty Group Inc.)
  This last month I had a major change in my team. Our assistant took another job. At first I though this would be a major set back to our business.  I immediately decided not to fill the position right away and do every aspect of my business myself.  This ended up being what  I really needed to take my business to the next level. I spent the first few weeks working 12hrs day playing catch up but in the process of doing everything myself I ended up learning everything top to bottom. I then had some of the most profitable ideas in my career. I was able to double my leads, and cut my monthly expenses over $3000. This has been a wonderful learning experience for me. I will from now on always be in charge of every aspect of my business. If you are running a team spend a week as your assista...
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