Foreclosure
Foreclosure Resources
Looking to Pay Back Your Mortgage Faster? Three Reasons to Consider Switching to Bi-weekly Payments, by Steph Nobel, Stephnoblemortgageblog.com
While there are differing schools of thought when it comes to whether or not a person should pay off a mortgage before the loan term ends, there may be some benefits to making payments on a bi-weekly basis as opposed to monthly basis. What are some of the reasons why it may be beneficial to make two payments a month instead of one? Here are three reasons why you should ditch the monthly fees and make payments once every two weeks.
You’ll Make An Extra Payment Per Year
If you’re looking to pay off your mortgage ahead of schedule, making bi-weekly payments means you’ll make an extra payment every year. Instead of making 12 large payments every year, you’ll make 26 small payments. These 26 small payments would be equal to about 13 large payments.
This is the equivalent of an extra payment per year and 10 extra payments over 10 years. If you have a 30-year mortgage, you could pay it off between two and three years early because you will make your last payment 30 months ahead of schedule.
You’ll Provide Yourself With Financial Flexibility
Making extra payments can provide you with financial flexibility that makes it easier to deal with unexpected expenses or a job loss. As you are making a half-payment every two week, you can make your payments in smaller, more manageable chunks.
It may be a good thing if you are self-employed and may not be sure when a client will pay for services rendered. Additionally, you may have your next payment reduced or advanced if you pay more than you owe in a given month.
You’ll Reduce the Amount of Interest Paid on the Loan
Paying off your mortgage faster reduces the amount of interest that you pay on the loan. Even if you only make one extra payment per year, you could still save thousands of dollars in interest by paying your loan several months or years early.
To determine exactly how much you will save, you can use an amortization table or calculator to see how much interest you pay over the full 30 years as opposed to taking only 27 or 28 years to pay for your home. It is also important to note that making extra payments adds to the equity that you have in the home.
Making two payments instead of one each month may help you achieve financial flexibility while building equity in your home. By paying off your mortgage as soon as possible, it may enable you to put more money into a savings or retirement account. Contact a mortgage professional for more information about whether bi-weekly payments are right for you.
Steph Noble
http://stephnoblemortgageblog.com
Utility Issues with Rental Properties, by Troy Rappold, Rappold Property Management
When a rental property that is occupied by a tenant is sold to a new owner there are many details that require diligent attention. One of these areas is the utility billing and interim billing. Interim billing is one of the first things that you would want to cancel because an Owner doesn’t want to accidently pay for bill that isn’t their responsibility. This ensures proper and accurate billing. As a general rule, the tenant is responsible for all utilities for a single family home. In this case nothing changes if ownership changes and the tenant stays in place. If the house is located in a city where the population is over 100K, the owner is responsible for the garbage service. In this case, the garbage bill is changed to the name of the new Owner.
As a local property management company, we have the garbage bills mailed to our office and we pay it out of the rental income on behalf of the owner. That way the charge will be reflected on the monthly statement. This is important because this expense is a tax write-off for the home owner. If the new Owner is going to move into the property, and the tenant is going to move out, then all utilities will be a prorated amount based upon the move out date of the tenant. If the tenant moves out on the 18th of the month, then they are responsible for 18 days’ worth of electricity, water, sewer, garbage and natural gas. As the property management company for the house, we track this and make sure all these charges are distributed correctly.
We also manage condominiums and often times the owner/investor will pay the Condo Association fees that include water, sewer and garbage. These charges are also a tax write off and can be tracked for the year. Although none of this is difficult to manage, it does need to be watched carefully so all parties involved pay only their share. This careful attention to detail is what we do here at Rappold Property Management.
Rappold Property Management, LLC
1125 SE Madison Street, suite #201
Portland, OR 97214
Phone: 503-232-5990
Fax: 503-232-1462
The Advantage of Property Management, By Troy Rappold
In business, the slogan “Just Do It!” rings true and will serve you well. In the world of Property Management this is applicable as well. After all, we are trying to grow our business and be successful when we manage your asset wisely and efficiently. However, more often than not our slogan is “Just Do the Right Thing!”
As property managers we work with many vendors who complete work on our properties. We want quick, quality repairs, and at a good price for our clients. Sometimes this requires tough conversations. Navigating this world is our expertise and it is part of why you rely on us. Our fiduciary responsibility is always you, the client.
The other piece of the puzzle we have to navigate is relations with tenants. Our job is to provide clean, safe, well-maintained housing. However, and this might come as a shock, sometimes tenants can have expectations that are out of line. Just because a kitchen counter has a scratch on it doesn’t mean we need to replace the entire counter top with new, beautiful granite from Brazil. Often times a property manager has to say “no” in the most professional and courteous way possible.
Real Estate management is an active, engaging industry. One cannot just buy an investment property and watch it appreciate or mature, like treasury bonds. Having the right management in place is just as important as buying the right property at the right price. We have the expertise and experience to navigate the difficulties and pitfalls for you. Here at Rappold Property Management we take our job very seriously and we manage your property as if it were our own.
Troy Rappold
Rappold Property Management, LLC
1125 SE Madison Street, suite #201
Portland, OR 97214
Phone: 503-232-5990
Fax: 503-232-1462
http://rappoldpropertymanagement.com
Asking Prices and Inventory for Homes in Portland Oregon, by Deptofnumbers.com
As of March 17 2014 there were about 7,821 single family and condo homes listed for sale in Portland Oregon. The median asking price of these homes was approximately $299,000. Since this time last year, the inventory of homes for sale has decreased by 2.2% and the median price has increased by 10.8%.
March 17, 2014 | Month/Month | Year/Year | |
---|---|---|---|
Median Asking Price | $299,000 | +3.3% | +10.8% |
Home Listings/Inventory | 7,821 | -0.7% | -2.2% |
Recent Asking Price and Inventory History for Portland
Date | Single Family & Condo Inventory |
25th Percentile Asking Price |
Median Asking Price |
75th Percentile Asking Price |
---|---|---|---|---|
03/17/2014 | 7,821 | $215,000 | $299,000 | $465,000 |
03/10/2014 | 7,819 | $214,900 | $297,565 | $460,000 |
03/03/2014 | 7,870 | $214,900 | $294,900 | $450,000 |
02/24/2014 | 7,818 | $214,500 | $289,900 | $450,000 |
02/17/2014 | 7,874 | $213,000 | $289,500 | $449,900 |
Portland Asking Price History
The median asking price for homes in Portland peaked in April 2007 at $354,740 and is now $57,585 (16.2%) lower. From a low of $239,125 in February 2011, the median asking price in Portland has increased by $58,030 (24.3%).
25th, Median (50th) and 75th Percentile Asking Prices for Portland Oregon
Portland Housing Inventory History
Housing inventory in Portland, which is typically highest in the spring/summer and lowest in the fall/winter, peaked at 23,354 in July 2008. The lowest housing inventory level seen was 7,810 in February 2014.
Housing Inventory for Portland Oregon
Portland Asking Price and Inventory History
Date | Single Family & Condo Inventory |
25th Percentile Asking Price |
Median Asking Price |
75th Percentile Asking Price |
---|---|---|---|---|
March 2014 | 7,837 | $214,933 | $297,155 | $458,333 |
February 2014 | 7,810 | $211,875 | $288,950 | $449,450 |
January 2014 | 7,857 | $209,225 | $286,975 | $444,025 |
December 2013 | 8,570 | $209,920 | $289,144 | $449,520 |
November 2013 | 9,392 | $210,177 | $289,350 | $449,900 |
October 2013 | 9,929 | $212,815 | $294,463 | $450,000 |
September 2013 | 10,167 | $211,790 | $296,780 | $451,980 |
August 2013 | 10,119 | $210,875 | $297,000 | $450,000 |
July 2013 | 9,490 | $206,640 | $296,560 | $450,000 |
June 2013 | 8,858 | $199,688 | $288,694 | $449,975 |
May 2013 | 8,527 | $194,888 | $281,850 | $446,900 |
April 2013 | 8,075 | $186,800 | $274,540 | $439,060 |
March 2013 | 7,969 | $182,923 | $267,425 | $427,213 |
February 2013 | 7,981 | $179,900 | $262,450 | $419,731 |
January 2013 | 8,250 | $179,075 | $259,217 | $404,725 |
December 2012 | 8,627 | $178,900 | $259,720 | $405,750 |
November 2012 | 9,408 | $179,675 | $260,950 | $408,963 |
October 2012 | 10,259 | $179,900 | $267,160 | $418,600 |
September 2012 | 10,828 | $179,900 | $268,975 | $418,450 |
August 2012 | 11,102 | $179,675 | $268,725 | $418,500 |
July 2012 | 11,140 | $177,600 | $266,598 | $411,651 |
June 2012 | 11,362 | $174,825 | $259,675 | $399,950 |
May 2012 | 11,227 | $169,713 | $252,463 | $399,450 |
April 2012 | 10,820 | $169,160 | $249,910 | $397,940 |
March 2012 | 9,683 | $174,450 | $259,450 | $406,225 |
February 2012 | 10,549 | $169,225 | $248,250 | $388,025 |
January 2012 | 10,833 | $169,080 | $246,960 | $381,960 |
December 2011 | 11,461 | $169,925 | $248,375 | $385,675 |
November 2011 | 12,018 | $174,750 | $250,972 | $397,425 |
October 2011 | 12,846 | $179,530 | $258,720 | $399,900 |
September 2011 | 13,509 | $179,939 | $259,900 | $399,900 |
August 2011 | 14,672 | $179,360 | $256,590 | $395,540 |
July 2011 | 14,772 | $178,150 | $253,188 | $389,225 |
June 2011 | 14,762 | $176,475 | $250,970 | $386,970 |
May 2011 | 14,582 | $173,184 | $249,160 | $375,780 |
April 2011 | 14,748 | $169,950 | $242,400 | $364,975 |
March 2011 | 15,458 | $169,800 | $239,675 | $359,575 |
February 2011 | 15,531 | $169,675 | $239,125 | $354,725 |
January 2011 | 15,001 | $170,760 | $239,158 | $356,380 |
December 2010 | 16,118 | $176,200 | $242,700 | $363,363 |
November 2010 | 17,018 | $180,160 | $249,330 | $373,780 |
October 2010 | 17,614 | $184,975 | $253,375 | $381,975 |
September 2010 | 18,282 | $189,100 | $258,925 | $390,950 |
August 2010 | 18,579 | $190,940 | $261,150 | $397,160 |
July 2010 | 18,160 | $195,163 | $267,475 | $399,000 |
June 2010 | 17,488 | $196,853 | $268,875 | $399,800 |
May 2010 | 17,035 | $198,880 | $269,620 | $399,818 |
April 2010 | 17,279 | $198,000 | $266,750 | $392,500 |
March 2010 | 16,495 | $195,600 | $264,460 | $393,960 |
February 2010 | 15,382 | $194,938 | $264,450 | $395,198 |
January 2010 | 14,895 | $197,819 | $267,425 | $399,225 |
December 2009 | 15,329 | $199,897 | $272,038 | $402,212 |
November 2009 | 15,902 | $202,750 | $277,760 | $417,780 |
October 2009 | 16,573 | $209,675 | $283,646 | $428,225 |
September 2009 | 17,165 | $210,000 | $289,475 | $436,100 |
August 2009 | 17,595 | $211,760 | $292,880 | $444,320 |
July 2009 | 17,819 | $212,950 | $294,950 | $449,000 |
June 2009 | 17,870 | $213,460 | $294,920 | $449,100 |
May 2009 | 17,713 | $211,475 | $293,291 | $445,250 |
April 2009 | 17,978 | $212,525 | $289,925 | $444,725 |
March 2009 | 18,506 | $214,153 | $289,930 | $443,360 |
February 2009 | 18,449 | $216,014 | $293,968 | $448,125 |
January 2009 | 18,872 | $219,952 | $297,855 | $452,809 |
December 2008 | 19,842 | $223,220 | $302,773 | $458,508 |
November 2008 | 20,983 | $226,382 | $307,532 | $464,024 |
October 2008 | 22,086 | $229,650 | $312,450 | $469,724 |
September 2008 | 22,973 | $233,730 | $319,580 | $474,990 |
August 2008 | 23,314 | $235,200 | $322,000 | $475,725 |
July 2008 | 23,354 | $236,074 | $324,550 | $475,000 |
June 2008 | 22,657 | $239,150 | $324,920 | $479,459 |
May 2008 | 21,505 | $239,900 | $325,000 | $480,947 |
April 2008 | 20,669 | $239,900 | $324,937 | $479,912 |
March 2008 | 19,381 | $241,300 | $324,860 | $485,960 |
February 2008 | 18,409 | $240,485 | $324,925 | $479,912 |
January 2008 | 17,659 | $243,500 | $324,962 | $481,765 |
December 2007 | 18,584 | $245,120 | $327,975 | $489,355 |
November 2007 | 19,926 | $248,665 | $330,475 | $486,425 |
October 2007 | 20,762 | $249,950 | $337,260 | $493,980 |
September 2007 | 20,656 | $253,425 | $339,900 | $497,749 |
August 2007 | 19,837 | $257,712 | $342,975 | $499,124 |
July 2007 | 18,710 | $261,120 | $349,120 | $499,930 |
June 2007 | 17,670 | $264,282 | $349,950 | $507,949 |
May 2007 | 16,386 | $264,900 | $350,975 | $512,662 |
April 2007 | 15,059 | $264,900 | $354,740 | $517,740 |
March 2007 | 13,897 | $264,450 | $353,850 | $523,425 |
February 2007 | 13,814 | $258,517 | $349,800 | $516,750 |
January 2007 | 13,726 | $255,810 | $349,637 | $507,441 |
December 2006 | 14,746 | $257,149 | $348,246 | $499,949 |
November 2006 | 15,671 | $258,837 | $348,750 | $499,900 |
October 2006 | 16,027 | $259,640 | $348,834 | $499,900 |
September 2006 | 15,239 | $261,098 | $349,675 | $499,937 |
August 2006 | 14,029 | $264,925 | $350,737 | $518,587 |
July 2006 | 12,864 | $264,920 | $350,470 | $525,980 |
June 2006 | 11,261 | $264,925 | $349,975 | $530,937 |
May 2006 | 9,804 | $262,340 | $350,940 | $532,360 |
April 2006 | 8,701 | $256,433 | $346,433 | $526,224 |
Data on deptofnumbers.com is for informational purposes only. No warranty or guarantee of accuracy is offered or implied. Contact ben@deptofnumbers.com (or @deptofnumbers on Twitter) if you have any questions, comments or suggestions. Privacy policy.
Landlords: Renters That Smoke, by Troy Rappold, Rappold Property Management, LLC
The ability to smoke in public and at apartment communities has been under attack for years. But what about rental homes? Often times an owner plans to rent their home for only a year or two. Certainly the owner does not want to receive the house back with the smell of cigarette smoke still lingering in the house. Even if the renter was a model tenant in all other respects, cigarette smoke can be very destructive. Smoking turns walls yellow (new paint job $1,200), it destroys carpets ($1,500), and it requires a deeper cleaning, perhaps with a deionizer ($500). The cost of all this stress…priceless.
The best approach? In all of our homes we have a no smoking policy. However, we do allow the renter to smoke outside, perhaps on the porch or deck. However, this issue can be a hard one to enforce. What if it’s cold outside? Who wants to stand outside when it’s only 35 degrees? The renter is easily tempted to stand inside the house or close to an open window and light up. Inevitably, smoke gets in the house and the home owner smells the evidence. A good suggestion is to do an inspection within the first month or two of a new lease if you know the renter smokes. Catch the problem early. Then do another inspection a few months later to make sure. If you detect smoke after the tenant moves out, a landlord can charge the tenant for the remediation of the smell. But this can be a tricky proposition. It is always best to be pro-active and keep this issue from becoming a possible expense. It is less ideal to react and pursue a vacating tenant for money.
You can always call Rappold Property Management with questions about your single family home investment.
Troy Rappold
Rappold Property Management, LLC
1125 SE Madison Street, suite #201
Portland, OR 97214
Phone: 503-232-5990
Fax: 503-232-1462
4 Tips On Giving Your Mudroom A Makeover, by Steph Noble, Northwest Mortgage Group
From crunched-up leaves stuck to bottoms of shoes to bulky coats shed as soon as kids walk through the door, mudrooms are ideal for keeping outdoor dirt, wet clothing and outerwear from being strewn throughout your home.
Mudrooms not only keep the rest of your house clean, but they also designate a spot for those last-minute grabs, such as coats, umbrellas and purses, when you’re running out the door.
These rooms are great catchalls. However, an organized mudroom can make your life and those hectic mornings much less stressful. Below are smart tips for getting your mudroom ready this fall.
1. Put In Seating
After shedding outer layers, the next thing anyone wants to do after coming inside on a cold, wet day is to take off their mucky shoes. So make sure there is a built-in bench or convenient chair for people to sit down and tend to their tootsies. Whether taking off or putting on shoes, it makes life a little more comfortable.
2. Install A Sink
A mudroom is supposed to be the catchall for everything dirty from the outdoors. With this in mind, a sink for washing off the grime and mud makes sense. Then you can clean your clothing in the contained space without having to haul them to the kitchen sink or laundry room.
3. Create Cubbies
Even though this space is designated as a drop-off point before entering the main living space, you don’t want everything just thrown into one big confusing pile. Create individual cubbies for every person in your household. Each cubby should contain a shelf for purses and backpacks, hooks for coats and a low place for shoes.
4. Splurge On A Boot Warmer
While electric boot warmers can be a little expensive, you will definitely think it’s worth the money when it’s freezing outside and your shoes are damp. Electric boot warmers heat your shoes on pegs and dry them out at the same time. They also work well on gloves.
Fall is a mudroom’s busy season; so get it in shape with the tips above. With all the coats hanging on their hooks, shoes in their cubbies and dirt contained to this designated space, your life will be a little more organized and much less stressful!
Steph Noble
Northwest Mortgage Group
(503) 528-9800
http://www.stephnoble.com
http://www.nwmortgagegoup.com
Related articles
- The 7 Elements of a Perfect Mudroom (apartmenttherapy.com)
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- Make Way for Mudrooms (californiaclosets.wordpress.com)
- outdoor mudroom . . . (kysakelleher.com)
- 83. The Mudroom Demolition (applehillcottage.org)
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Asking Prices and Inventory for Homes in Portland Oregon June 3rd 2013
As of June 03 2013 there were about 8,714 single family and condo homes listed for sale in Portland Oregon. The median asking price of these homes was approximately $285,077. Since this time last year, the inventory of homes for sale has decreased by 23.4% and the median price has increased by 10.1%.
June 03, 2013 | Month/Month | Year/Year | |
---|---|---|---|
Median Asking Price | $285,077 | +1.8% | +10.1% |
Home Listings/Inventory | 8,714 | +3.5% | -23.4% |
Recent Asking Price and Inventory History for Portland
Date | Single Family & Condo Inventory |
25th Percentile Asking Price |
Median Asking Price |
75th Percentile Asking Price |
---|---|---|---|---|
06/03/2013 | 8,714 | $199,000 | $285,077 | $449,900 |
05/27/2013 | 8,631 | $197,700 | $285,000 | $449,000 |
05/20/2013 | 8,597 | $195,000 | $282,500 | $441,100 |
05/13/2013 | 8,460 | $194,950 | $280,000 | $448,500 |
05/06/2013 | 8,420 | $191,900 | $279,900 | $449,000 |
Portland Asking Price History
The median asking price for homes in Portland peaked in April 2007 at $354,740 and is now $69,663 (19.6%) lower. From a low of $239,125 in February 2011, the median asking price in Portland has increased by $45,952 (19.2%).
25th, Median (50th) and 75th Percentile Asking Prices for Portland Oregon
Portland Housing Inventory History
Housing inventory in Portland, which is typically highest in the spring/summer and lowest in the fall/winter, peaked at 23,354 in July 2008. The lowest housing inventory level seen was 7,969 in March 2013.
Housing Inventory for Portland Oregon
Portland Asking Price and Inventory History
Date | Single Family & Condo Inventory |
25th Percentile Asking Price |
Median Asking Price |
75th Percentile Asking Price |
---|---|---|---|---|
June 2013 | 8,714 | $199,000 | $285,077 | $449,900 |
May 2013 | 8,527 | $194,888 | $281,850 | $446,900 |
April 2013 | 8,075 | $186,800 | $274,540 | $439,060 |
March 2013 | 7,969 | $182,923 | $267,425 | $427,213 |
February 2013 | 7,981 | $179,900 | $262,450 | $419,731 |
January 2013 | 8,250 | $179,075 | $259,217 | $404,725 |
December 2012 | 8,627 | $178,900 | $259,720 | $405,750 |
November 2012 | 9,408 | $179,675 | $260,950 | $408,963 |
October 2012 | 10,259 | $179,900 | $267,160 | $418,600 |
September 2012 | 10,828 | $179,900 | $268,975 | $418,450 |
August 2012 | 11,102 | $179,675 | $268,725 | $418,500 |
July 2012 | 11,140 | $177,600 | $266,598 | $411,651 |
June 2012 | 11,362 | $174,825 | $259,675 | $399,950 |
May 2012 | 11,227 | $169,713 | $252,463 | $399,450 |
April 2012 | 10,820 | $169,160 | $249,910 | $397,940 |
March 2012 | 9,683 | $174,450 | $259,450 | $406,225 |
February 2012 | 10,549 | $169,225 | $248,250 | $388,025 |
January 2012 | 10,833 | $169,080 | $246,960 | $381,960 |
December 2011 | 11,461 | $169,925 | $248,375 | $385,675 |
November 2011 | 12,018 | $174,750 | $250,972 | $397,425 |
October 2011 | 12,846 | $179,530 | $258,720 | $399,900 |
September 2011 | 13,509 | $179,939 | $259,900 | $399,900 |
August 2011 | 14,672 | $179,360 | $256,590 | $395,540 |
July 2011 | 14,772 | $178,150 | $253,188 | $389,225 |
June 2011 | 14,762 | $176,475 | $250,970 | $386,970 |
May 2011 | 14,582 | $173,184 | $249,160 | $375,780 |
April 2011 | 14,748 | $169,950 | $242,400 | $364,975 |
March 2011 | 15,458 | $169,800 | $239,675 | $359,575 |
February 2011 | 15,531 | $169,675 | $239,125 | $354,725 |
January 2011 | 15,001 | $170,760 | $239,158 | $356,380 |
December 2010 | 16,118 | $176,200 | $242,700 | $363,363 |
November 2010 | 17,018 | $180,160 | $249,330 | $373,780 |
October 2010 | 17,614 | $184,975 | $253,375 | $381,975 |
September 2010 | 18,282 | $189,100 | $258,925 | $390,950 |
August 2010 | 18,579 | $190,940 | $261,150 | $397,160 |
July 2010 | 18,160 | $195,163 | $267,475 | $399,000 |
June 2010 | 17,488 | $196,853 | $268,875 | $399,800 |
May 2010 | 17,035 | $198,880 | $269,620 | $399,818 |
April 2010 | 17,279 | $198,000 | $266,750 | $392,500 |
March 2010 | 16,495 | $195,600 | $264,460 | $393,960 |
February 2010 | 15,382 | $194,938 | $264,450 | $395,198 |
January 2010 | 14,895 | $197,819 | $267,425 | $399,225 |
December 2009 | 15,329 | $199,897 | $272,038 | $402,212 |
November 2009 | 15,902 | $202,750 | $277,760 | $417,780 |
October 2009 | 16,573 | $209,675 | $283,646 | $428,225 |
September 2009 | 17,165 | $210,000 | $289,475 | $436,100 |
August 2009 | 17,595 | $211,760 | $292,880 | $444,320 |
July 2009 | 17,819 | $212,950 | $294,950 | $449,000 |
June 2009 | 17,870 | $213,460 | $294,920 | $449,100 |
May 2009 | 17,713 | $211,475 | $293,291 | $445,250 |
April 2009 | 17,978 | $212,525 | $289,925 | $444,725 |
March 2009 | 18,506 | $214,153 | $289,930 | $443,360 |
February 2009 | 18,449 | $216,014 | $293,968 | $448,125 |
January 2009 | 18,872 | $219,952 | $297,855 | $452,809 |
December 2008 | 19,842 | $223,220 | $302,773 | $458,508 |
November 2008 | 20,983 | $226,382 | $307,532 | $464,024 |
October 2008 | 22,086 | $229,650 | $312,450 | $469,724 |
September 2008 | 22,973 | $233,730 | $319,580 | $474,990 |
August 2008 | 23,314 | $235,200 | $322,000 | $475,725 |
July 2008 | 23,354 | $236,074 | $324,550 | $475,000 |
June 2008 | 22,657 | $239,150 | $324,920 | $479,459 |
May 2008 | 21,505 | $239,900 | $325,000 | $480,947 |
April 2008 | 20,669 | $239,900 | $324,937 | $479,912 |
March 2008 | 19,381 | $241,300 | $324,860 | $485,960 |
February 2008 | 18,409 | $240,485 | $324,925 | $479,912 |
January 2008 | 17,659 | $243,500 | $324,962 | $481,765 |
December 2007 | 18,584 | $245,120 | $327,975 | $489,355 |
November 2007 | 19,926 | $248,665 | $330,475 | $486,425 |
October 2007 | 20,762 | $249,950 | $337,260 | $493,980 |
September 2007 | 20,656 | $253,425 | $339,900 | $497,749 |
August 2007 | 19,837 | $257,712 | $342,975 | $499,124 |
July 2007 | 18,710 | $261,120 | $349,120 | $499,930 |
June 2007 | 17,670 | $264,282 | $349,950 | $507,949 |
May 2007 | 16,386 | $264,900 | $350,975 | $512,662 |
April 2007 | 15,059 | $264,900 | $354,740 | $517,740 |
March 2007 | 13,897 | $264,450 | $353,850 | $523,425 |
February 2007 | 13,814 | $258,517 | $349,800 | $516,750 |
January 2007 | 13,726 | $255,810 | $349,637 | $507,441 |
December 2006 | 14,746 | $257,149 | $348,246 | $499,949 |
November 2006 | 15,671 | $258,837 | $348,750 | $499,900 |
October 2006 | 16,027 | $259,640 | $348,834 | $499,900 |
September 2006 | 15,239 | $261,098 | $349,675 | $499,937 |
August 2006 | 14,029 | $264,925 | $350,737 | $518,587 |
July 2006 | 12,864 | $264,920 | $350,470 | $525,980 |
June 2006 | 11,261 | $264,925 | $349,975 | $530,937 |
May 2006 | 9,804 | $262,340 | $350,940 | $532,360 |
April 2006 | 8,701 | $256,433 | $346,433 | $526,224 |
Data on deptofnumbers.com is for informational purposes only. No warranty or guarantee of accuracy is offered or implied. Contact ben@deptofnumbers.com (or @deptofnumbers on Twitter) if you have any questions, comments or suggestions.
Department of Numbers
http://www.deptofnumbers.com/
Multnomahforeclosures.com: Updated Notice of Default Lists April 25th, 2013
Visit MultnomahForeclosures.com for the notice of default lists (Homes in Foreclosure) for Multnomah County and other Oregon counties.
Multnomah Country Foreclosures
http://multnomahforeclosures.com
Fred Stewart
Stewart Group Realty Inc.
info@sgrealtyinc.com
http://www.sgrealty.net
503-289-4970
How To Have the Best Garage Sale Ever At Your Home, by Steph Noble
It’s getting close to that time of year again — time to have a garage sale at your home!
Here are a few tips to help you have your most successful garage sale ever.
Advertise Your Sale In Local Newspapers And Online
Many of the habitual Saturday morning garage sale patrons use the paper to plan their treasure hunts.
They do this to make sure they hit all of the sales in certain neighborhoods.
In the ad, mention your home address, date and time of your garage sale and any big or popular items you’ll be selling.
Open Your Sale Early
It’s best to open early, such as around seven in the morning a sales tend to taper off in the afternoon.
Don’t disappoint early shoppers who are typically your best buyers.
They have a busy schedule and a lot of stops to hit.
Open on time or even a few minutes before the time you advertised.
Make Plenty Of Signs To Guide Customers In
If your yard is difficult to see or is not on a main road, be sure to post signs pointing the way.
If allowed, attach a few balloons to it which will catch the attention of passing motorists.
Have Everything Labeled With Reasonable Prices
You’ll get some customers who try to haggle, but for most customers, not knowing the prices is a quick way to have them moving on to another sale.
Keep in mind that these shoppers are looking for a bargain and price accordingly.
You can individually label each item, or use an easily readable color-coded chart.
For instance, a blue sticker means 25 cents, red stickers mean 50 cents and yellow stickers mean $1.
Offer Specials At Different Points During The Garage Sale
You can offer a 2-for-1 sale or a twenty percent off special.
At the end of the day, you may want to have an unadvertised special such as fill a bag for $1 to get rid of as much as possible.
It’s always a good idea to have a “free box” for items that are already low-priced and don’t move during the first half of the sale.
Donate Leftovers
Make your life easier and do something for others by donating any items that don’t sell.
If you plan carefully, you can schedule a pick up by your local charitable organization at the end of your garage sale.
Garage sales are a great way to get the clutter and unused collection of items out of your house while recycling them at the same time.
Using these tips, you’re well on your way to having your best garage sale ever.
Steph Noble
http://stephnoblemortgageblog.com/
Asking Prices and Inventory for Homes in Portland Oregon
As of April 08 2013 there were about 8,039 single family and condo homes listed for sale in Portland Oregon. The median asking price of these homes was approximately $274,000. Since this time last year, the inventory of homes for sale has decreased by 24.4% and the median price has increased by 9.6%.
April 08, 2013 | Month/Month | Year/Year | |
---|---|---|---|
Median Asking Price | $274,000 | +3.4% | +9.6% |
Home Listings/Inventory | 8,039 | +0.8% | -24.4% |
Recent Asking Price and Inventory History for Portland
Date | Single Family & Condo Inventory |
25th Percentile Asking Price |
Median Asking Price |
75th Percentile Asking Price |
---|---|---|---|---|
04/08/2013 | 8,039 | $185,000 | $274,000 | $439,000 |
04/01/2013 | 7,836 | $185,000 | $269,900 | $429,900 |
03/25/2013 | 7,975 | $184,990 | $269,900 | $429,950 |
03/18/2013 | 7,998 | $184,900 | $269,900 | $429,000 |
03/11/2013 | 7,979 | $181,900 | $265,000 | $425,000 |
Portland Asking Price History
The median asking price for homes in Portland peaked in April 2007 at $354,740 and is now $82,790 (23.3%) lower. From a low of $239,125 in February 2011, the median asking price in Portland has increased by $32,825 (13.7%).
25th, Median (50th) and 75th Percentile Asking Prices for Portland Oregon
Portland Housing Inventory History
Housing inventory in Portland, which is typically highest in the spring/summer and lowest in the fall/winter, peaked at 23,354 in July 2008. The lowest housing inventory level seen was 7,938 in April 2013.
Housing Inventory for Portland Oregon
Portland Asking Price and Inventory History
Date | Single Family & Condo Inventory |
25th Percentile Asking Price |
Median Asking Price |
75th Percentile Asking Price |
---|---|---|---|---|
April 2013 | 7,938 | $185,000 | $271,950 | $434,450 |
March 2013 | 7,969 | $182,923 | $267,425 | $427,213 |
February 2013 | 7,981 | $179,900 | $262,450 | $419,731 |
January 2013 | 8,250 | $179,075 | $259,217 | $404,725 |
December 2012 | 8,627 | $178,900 | $259,720 | $405,750 |
November 2012 | 9,408 | $179,675 | $260,950 | $408,963 |
October 2012 | 10,259 | $179,900 | $267,160 | $418,600 |
September 2012 | 10,828 | $179,900 | $268,975 | $418,450 |
August 2012 | 11,102 | $179,675 | $268,725 | $418,500 |
July 2012 | 11,140 | $177,600 | $266,598 | $411,651 |
June 2012 | 11,362 | $174,825 | $259,675 | $399,950 |
May 2012 | 11,227 | $169,713 | $252,463 | $399,450 |
April 2012 | 10,820 | $169,160 | $249,910 | $397,940 |
March 2012 | 9,683 | $174,450 | $259,450 | $406,225 |
February 2012 | 10,549 | $169,225 | $248,250 | $388,025 |
January 2012 | 10,833 | $169,080 | $246,960 | $381,960 |
December 2011 | 11,461 | $169,925 | $248,375 | $385,675 |
November 2011 | 12,018 | $174,750 | $250,972 | $397,425 |
October 2011 | 12,846 | $179,530 | $258,720 | $399,900 |
September 2011 | 13,509 | $179,939 | $259,900 | $399,900 |
August 2011 | 14,672 | $179,360 | $256,590 | $395,540 |
July 2011 | 14,772 | $178,150 | $253,188 | $389,225 |
June 2011 | 14,762 | $176,475 | $250,970 | $386,970 |
May 2011 | 14,582 | $173,184 | $249,160 | $375,780 |
April 2011 | 14,748 | $169,950 | $242,400 | $364,975 |
March 2011 | 15,458 | $169,800 | $239,675 | $359,575 |
February 2011 | 15,531 | $169,675 | $239,125 | $354,725 |
January 2011 | 15,001 | $170,760 | $239,158 | $356,380 |
December 2010 | 16,118 | $176,200 | $242,700 | $363,363 |
November 2010 | 17,018 | $180,160 | $249,330 | $373,780 |
October 2010 | 17,614 | $184,975 | $253,375 | $381,975 |
September 2010 | 18,282 | $189,100 | $258,925 | $390,950 |
August 2010 | 18,579 | $190,940 | $261,150 | $397,160 |
July 2010 | 18,160 | $195,163 | $267,475 | $399,000 |
June 2010 | 17,488 | $196,853 | $268,875 | $399,800 |
May 2010 | 17,035 | $198,880 | $269,620 | $399,818 |
April 2010 | 17,279 | $198,000 | $266,750 | $392,500 |
March 2010 | 16,495 | $195,600 | $264,460 | $393,960 |
February 2010 | 15,382 | $194,938 | $264,450 | $395,198 |
January 2010 | 14,895 | $197,819 | $267,425 | $399,225 |
December 2009 | 15,329 | $199,897 | $272,038 | $402,212 |
November 2009 | 15,902 | $202,750 | $277,760 | $417,780 |
October 2009 | 16,573 | $209,675 | $283,646 | $428,225 |
September 2009 | 17,165 | $210,000 | $289,475 | $436,100 |
August 2009 | 17,595 | $211,760 | $292,880 | $444,320 |
July 2009 | 17,819 | $212,950 | $294,950 | $449,000 |
June 2009 | 17,870 | $213,460 | $294,920 | $449,100 |
May 2009 | 17,713 | $211,475 | $293,291 | $445,250 |
April 2009 | 17,978 | $212,525 | $289,925 | $444,725 |
March 2009 | 18,506 | $214,153 | $289,930 | $443,360 |
February 2009 | 18,449 | $216,014 | $293,968 | $448,125 |
January 2009 | 18,872 | $219,952 | $297,855 | $452,809 |
December 2008 | 19,842 | $223,220 | $302,773 | $458,508 |
November 2008 | 20,983 | $226,382 | $307,532 | $464,024 |
October 2008 | 22,086 | $229,650 | $312,450 | $469,724 |
September 2008 | 22,973 | $233,730 | $319,580 | $474,990 |
August 2008 | 23,314 | $235,200 | $322,000 | $475,725 |
July 2008 | 23,354 | $236,074 | $324,550 | $475,000 |
June 2008 | 22,657 | $239,150 | $324,920 | $479,459 |
May 2008 | 21,505 | $239,900 | $325,000 | $480,947 |
April 2008 | 20,669 | $239,900 | $324,937 | $479,912 |
March 2008 | 19,381 | $241,300 | $324,860 | $485,960 |
February 2008 | 18,409 | $240,485 | $324,925 | $479,912 |
January 2008 | 17,659 | $243,500 | $324,962 | $481,765 |
December 2007 | 18,584 | $245,120 | $327,975 | $489,355 |
November 2007 | 19,926 | $248,665 | $330,475 | $486,425 |
October 2007 | 20,762 | $249,950 | $337,260 | $493,980 |
September 2007 | 20,656 | $253,425 | $339,900 | $497,749 |
August 2007 | 19,837 | $257,712 | $342,975 | $499,124 |
July 2007 | 18,710 | $261,120 | $349,120 | $499,930 |
June 2007 | 17,670 | $264,282 | $349,950 | $507,949 |
May 2007 | 16,386 | $264,900 | $350,975 | $512,662 |
April 2007 | 15,059 | $264,900 | $354,740 | $517,740 |
March 2007 | 13,897 | $264,450 | $353,850 | $523,425 |
February 2007 | 13,814 | $258,517 | $349,800 | $516,750 |
January 2007 | 13,726 | $255,810 | $349,637 | $507,441 |
December 2006 | 14,746 | $257,149 | $348,246 | $499,949 |
November 2006 | 15,671 | $258,837 | $348,750 | $499,900 |
October 2006 | 16,027 | $259,640 | $348,834 | $499,900 |
September 2006 | 15,239 | $261,098 | $349,675 | $499,937 |
August 2006 | 14,029 | $264,925 | $350,737 | $518,587 |
July 2006 | 12,864 | $264,920 | $350,470 | $525,980 |
June 2006 | 11,261 | $264,925 | $349,975 | $530,937 |
May 2006 | 9,804 | $262,340 | $350,940 | $532,360 |
April 2006 | 8,701 | $256,433 | $346,433 | $526,224 |
Department of Numbers
The Department of Numbers contextualizes public data so that individuals can form independent opinions on everyday social and economic matters.
3 Tips To Get The Best Results On Your Mortgage Application, by Steph Noble
Although the financial markets have tightened lending guidelines and financing requirements over the last few years, the right advice when applying for your loan can make a big difference.
Not all loans are approved. And even when they aren’t approved immediately, it doesn’t have to be the end of your real estate dreams.
There are many reasons why a mortgage loan for the purchase of your real estate could be declined.
Here are a few things to understand and prepare for when applying for a mortgage:
Loan-to-Value Ratio
The loan-to-value ratio (LTV) is the percentage of the appraised value of the real estate that you are trying to finance.
For example, if you are trying to finance a home that costs $100,000, and want to borrow $75,000, your LTV is 75%.
Lenders generally don’t like a high LTV ratio. The higher the ratio, the harder it normally is to qualify for a mortgage.
You can positively affect the LTV by saving for a larger down payment.
Credit-to-Debt Ratio
Your credit score can be affected negatively, which in turn affects your mortgage loan if you have a high credit-to-debt ratio.
The ratio is figured by dividing the amount of credit available to you on a credit card or auto loan, and dividing it by how much you are currently owe.
High debt loads make a borrower less attractive to many lenders.
Try to keep your debt to under 50% of what is available to you. Lenders will appreciate it, and you will be more likely to get approved for a mortgage.
No Credit or Bad Credit
Few things can derail your mortgage loan approval like negative credit issues.
Having no credit record can sometimes present as much difficulty with your loan approval as having negative credit.
With no record of timely loan payments in your credit history, a lender is unable to determine your likelihood to repay the new mortgage.
Some lenders and loan programs may consider other records of payment, like utility bills and rent reports from your landlord.
Talk to your loan officer to determine which of these issues might apply to you, and take the steps to correct them.
Then, you can finance the home of your dreams.
3 Stress-Free Packing Tips For Moving Into Your New Home, by Steph Noble
Moving everything in your house to your new |Oregon| home can be an overwhelming task.
You never realize how much stuff you actually own until you try to fit it all into boxes and move it somewhere new.
When you are packing up your things to relocate, here are some helpful tips to make your moving experience much easier:
Start Packing In Advance
You don’t have to wait until the day before you move to start packing everything in your house!
As soon as you find out that you are moving, you can start packing the items you don’t often use, such as your seasonal decorations, photo albums and family keepsakes.
If you pack a few items per week, you’ll have almost everything packed by the time you are ready to go except for the essentials you use every day.
Establish A System
Rather than randomly throwing every item you see into a box, think ahead and create a logical plan for your packing.
Before you start, develop a simple record-keeping system.
Give every box you pack a number and write a corresponding list detailing the items in that box.
This way, when you arrive you will know exactly where to find each item.
Stay Organized
You will want to keep all of the items from each area of the house together so they can be unpacked easily.
For example, keep all of the boxes of kitchen supplies together and then put them straight into the kitchen when you arrive at your new home.
You could even designate a color for each room in the house and put colored stickers on the boxes so that the movers or anyone helping you can easily determine in which room a box belongs.
Bonus Tip: Sometimes Less Is More
One final consideration that can make your move easier is to use your move as an opportunity to pare down your unused belongings.
Plus, you won’t be left wondering why you decided to move things from one home to another once you start unpacking.
As with many things, the more organized you are when packing, the less stressful it will be when you arrive and at your new house.
As Inventories Shrink, So Do Seller Concessions, by RisMedia
With inventories down and prices up, sellers are ending the costly incentives they have been forced to offer buyers during the six-year long buyers’ market. Concession-free transactions make deal-making simple on both sides of the table.
There’s no better gauge of the onset of a seller’s market than the demise of concessions that were considered essential to attract buyer interest just a few months ago. The National Association of REALTORS®’ December REALTOR® Confidence Outlook reported that the market has steadily moved towards a seller’s market with buyers more willing to bear closing costs, in some cases paying for half or more of the closing cost. Tight inventories of homes for sale are making markets increasingly competitive.
NAR reports that last year 60 percent of all sellers offered incentives to attract buyers. The most popular was a free home warranty policy, which costs about $500, offered by 22 percent of sellers, but 17 percent upped the ante by paying a portion of buyers’ closing costs and 7 percent contributed to remodeling or repairs.
Concessions linger where inventories are still adequate and sales slow, but in tight markets like Washington D.C., the times when buyers can expect concessions are already over.
“Buyers are discovering, to their dismay that homes they wanted to see or possibly buy have already been snatched up before they even get a chance to see or make an offer on the property. This area’s unprecedented low inventory levels are slowly driving up home prices and making sellers reluctant to cede little if any concessions to buyers. Realtors are warning (or should in some cases) buyers to be prepared to act that day if they are interested in a property,” reporters a local broker.
In Albuquerque, supply is dwindling and sales are moving to a more balanced market. “Buyers can expect sellers to offer less concessions and sales prices will be close to list price,” reports broker Archie Saiz.
In Seattle, not only are concessions a thing of the past, desperate buyers are even resorting to writing “love letters” to win over sellers in competitive situations. Lena Maul, a broker/owner in Lynnwood, reports a successful letter-writing effort last month by one of her office’s clients. Those buyers, who were using FHA financing, wrote a letter introducing themselves to the seller and explaining why they liked the home so much. After reviewing 13 offers, including one from an all-cash investor, the seller chose the letter-writer’s offer.
New regulations enacted last year by the Federal Housing Administration to limit its exposure to risk forced many sellers to cut back on the amount of assistance on buyers’ closing costs. Sellers are now limited to no more than six percent of the loan amount.
Underwriting standards on conventional mortgages also have the effect of limiting the amount sellers can contribute.
In recent years many lenders have disallowed seller paid closing costs on 100 percent financed home loans because of the high foreclosure rate.
However, seller paid closing costs are typically limited to 6 percent of the loan amount at 90 percent loan-to-value or lower, 3 percent between 90-95 percent, and then usually 3 percent for 100 percent loan-to-value.
Some sellers bump up the home sales price to pay for concessions. However the buyer will need to get the higher amount he will need to borrow covered by the appraisal and he will have to meet increased debt-to-income ratio in order to close his loan.
The demise of concessions will make buying and selling a little simpler and more rational. As one observed asked, “Why would anyone selling a home pay the home buyer to buy it?”
For more information, visit www.realestateeconomywatch.com
Nearly Half of U.S. Families Teetering on Edge of Ruin. by MANDI WOODRUFF, Business Insider
In the past few years, Americans have certainly learned a thing or two about how quickly disaster can strike.
And with each Hurricane Sandy, housing crisis, and stock market crash that rocks our world, we’re faced with the harsh realization that many of us simply aren’t prepared for the worst. A sobering new report by the Corporation for Enterprise Development shows nearly half of U.S. households (132.1 million people) don’t have enough savings to weather emergencies or finance long-term needs like college tuition, health care and housing.
According to the Assets & Opportunity Scorecard, these people wouldn’t last three months if their income was suddenly depleted. More than 30 percent don’t even have a savings account, and another 8 percent don’t bank at all.
We’re not just talking about people who living people the poverty line, either. Plenty of the middle class have joined the ranks of the “working poor,” struggling right alongside families scraping by on food stamps and other forms of public assistance.
More than one-quarter of households earning $55,465 to $90,000 annually have less than three months of savings. And another quarter of households are considered net worth asset poor, meaning “the few assets they have, such as a savings account or durable assets like a home, business or car, are overwhelmed by their debts,” the study says.
BASIC NECESSITIES
One of the prolonging reasons consumers have consistently struggled to make ends meet has more to do with larger economic issues than whether or not they can balance a checkbook. According to the report, household median net worth declined by over $27,000 from its peak in 2006 to $68,948 in 2010, and at the same time, the cost of basic necessities like housing, food, and education have soared.
It’s a dichotomy that is hammered home in a new book by finance expert Helaine Olen. In Pound Foolish: Exposing the Dark Side of the Personal Finance Industry, Olen knocks down much of the commonly-spread advice that is sold by the personal finance industry –– the idea that if you’re not making ends meet in America, you’re doing something wrong.
“The problem was fixed cost, the things that are difficult to ‘cut back’ on. Housing, health care, and education cost the average family 75 percent of their discretionary income in the 2000s. The comparable figure in 1973: 50 percent,” Olen writes.
“And even as the cost of buying a house plunged in many areas of the country in the latter half of the 2000s (causing, needless to say, its own set of problems) the price of other necessary expenditures kept rising.”
And wherever consumers can’t cope with costs, they continue to rely on plastic. The average borrower carries more than $10,700 in credit card debt, one in five households still rely on high-risk financial services that target low-income and under-banked consumers.
Read more at http://www.thefiscaltimes.com/Articles/2013/02/04/Nearly-Half-of-US-Families-Teetering-on-Edge-of-Ruin.aspx#DVKZCYevJIMwCEyw.99