Real Estate Can Be Funny, When Your Talking About Other People's Homes

The great people of the Pacific Northwest, sometimes need a laugh or two. Check out this real estate segment on the Ellen Degeneres Show:



Now that you have had a few laughs and have seen properties that are not worth you time, contact Todd Adams at 503-332-5227. I will explain the steps involved in the purchase process, listen to your needs, and help you reach your goal of owning a home.    

Click here to search for properties

 

For further information on the home buying process or selling process, contact Todd Adams at 503-332-5227 or visit Home Search

Is now the time to buy a house?

I am constantly being asked by clients, is this a good time to buy a house? Industry experts believe it is an exellent time to invest in real estate.

In a recent "Market Insights" article called "Housing: A time to buy," Dr. David Kelly and David Lebovitz list four "Measures of Value":

1. Home prices relative to average household income. The ratio has reached an all time low of just 153%. The normal is 180% of household income. Great news for home buyers, your income will buy more house today.
2. Low interest rates. The active intervention of the Federal Reserve has brought mortgage rates to their lowest level in modern history. Lower interest rates mean more buying power or more house for your money.
3. The cost of renting versus the cost of owning. In 2007, the median mortgage payment was close to 150% of the median asking rent. Now the median mortgage payment is just 78% of the median asking rent. This means that it is significantly less expensive to own a home than to rent. In some metropolitan areas, we have seen rents increase by as much as 30%.
4. Home pricing relative to the cost of construction. Home prices have fallen so much that we will need to see an uptick before builders will be incentivised to increase construction of new homes. To buyers, this is a sign that now is the time to take advantage of low prices.

The conclusion of Dr. David Kelly and David Lebovitz is: "Today, when home ownership is depreciated more than ever before, the numbers tell us it is time to buy." To review the findings in their entirety, click here.

Bottom line: Now is the time to buy a house!

 

For further information on the home buying process or selling process, contact Todd Adams at 503-332-5227 or visit Home Search

How To Boost Your Home's Value

In this real estate market, who isn't interested in boosting the value of their home? The key question is, how do you boost the value of your home most efficiently?

Here are the top 10 "cheap fixes" as reported by Teri Cettina of Bankrate.com (Boost Your Homes Value) 

Involving the family is a great way to make projects fun

1. Make your kitchen really cook
2. Give appliances a facelift
3. Buff up the bath
4. Step up your storage
5. Add a room in a week or less
6. Mind the mechanics
7. Look underfoot
8. Let there be light
9. Reframe your entry
10. Consider curb appeal

The three stand outs on the list, in my opinion, are:

• The kitchen. It's the heart of the home and not a surprise that it made the list at number one. What is a surprise to me is how many homes I have shown to clients that have no knobs on the cabinets! Knobs on kitchen cabinets can make a huge difference in the look and feel of a kitchen and it is a project that would not break the bank.

• Reframing the entry. It seems obvious, but many home owners can dramatically improve the first impressions of potential buyer's by changing up the hardware on the front door.

• Consider curb appeal. Yes, it is obvious. However, the number one reason people contact a real estate broker out of the blue, is that they drove by a home and liked what they saw on the outside. If your home is listed and not selling and you are getting very few showings, it may be time to look at sprucing up the curb appeal of your home - A good investment, even if you are not selling.

Tip: If you have holes in your drywall, check out this video on how to quickly fix the holes.

It's a new year, projects abound! Whether you are a DIY or involving the entire family, you can make a difference and limit the cost. Here's to a successful 2012!

For further information on the home buying process or selling process, contact Todd Adams at 503-332-5227 or visit Home Search

30 Year Fixed Mortgage Rate Hits An All-Time Low

In the news this week, 30-year fixed mortgages dipped to a current rate of 3.73 percent on Zillow Mortgage Marketplace.




Zillow's Camille Salama reports that this drop "represents the lowest rate reported since Zillow Mortgage Marketplace launched in 2008."


If you are a home owner or looking to be a home owner and you want to go BOLD, take a look at the 15-year fixed mortgage rate - it reached a low of 3.07 this week.

What this means to first time home buyer's is that they can now get more house for the money.

For an up-to-the-minute rate, click here Zillow's Mortgage Marketplace

 

For further information on the home buying process or selling process, contact Todd Adams at 503-332-5227 or visit Home Search