Month: May 2019

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Did Your House Shrink

Have you outgrown your home? Or has your home outgrown you and your household? Fewer and fewer families expect to stay in their first or second home for the long haul. Here are some factors to determine if you’re financially and emotionally ready to sell your house:

  1. Growing or shrinking household — Are you about to welcome a new baby or take in aging parents? Maybe you’re sending your youngest off to college. In any event, if your living space has become too cramped or grown beyond your needs, it may be time to make a move.
  2. Plenty of home equity — Subtract the value of your home from the amount you have left on your loan. What’s left over is the equity — or the amount you’ll have post-sale. After you sell your home, you’ll be a buyer again, so having some funds to put down is key.
  3. Interest from potential buyers — You’ll want to list when you know buyers are looking. Some experts say late spring is the ideal time to sell, but peak seasons vary by region. Milder weather can increase buyer interest, but that also means more competition from other sellers.
  4. Changing circumstances — Location matters. Whether your neighborhood dynamics are changing, you’re unhappy with the schools in your area or a new job significantly increases your commute, your community needs to fit your lifestyle.
  5. Home improvements — Renovations may be a wise investment, but it’s best to avoid listing your home in the middle of a project. If you plan to sell your home as is, completing some minor home updates such as new paint and fixtures can be a huge selling point.

Moving is a big decision, one that requires careful consideration. If your needs have changed since you bought your home, don’t hesitate to get in touch.

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Wacky Willamette Valley Detours

What is it that makes the Willamette Valley so … eccentric?

[…] Whatever the reason, here you’re encouraged to do what you like, to follow your bliss, to blaze your own trail.

Oregon has long produced and attracted dreamers and drifters, misfits and mysteries, so it’s no wonder that the Willamette Valley claims more than its fair share of the freaky and the far out.

Starting in the south, near the Willamette River’s origins outside Eugene and extending north toward Portland, here’s your checklist of must-see monuments to the mysterious. Read More

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Nearly 75% of First Time Buyers Purchased Home With Less Than 20% Down Payment​

Most first time buyers believe that in order to purchase their first home, they need to come up with a sizeable down payment—typically 20%.

But the truth is, you can buy a home for a lot less and, in fact, most first time buyers are.

According to the most recent REALTORS® Confidence Index from the National Association of Realtors®, a whopping 72% of first time buyers purchased their home with a down payment of less than 20%.

So what’s changed? While 20% used to be the standard in order to secure a loan, options like FHA loans are more lenient with their requirements. As long as a first time buyer has the financial stability to support their mortgage payments in the long term, they can get approved—even if they aren’t able to save a substantial amount for their down payment.

The Takeaway

If you’re thinking about purchasing a home but have been putting it off to save a substantial down payment, there’s no reason to wait. With the flexible loan options on the market, you can secure a loan with a far smaller down payment than you’d imagine—and make your dream of owning a home a reality.