Willamette Valley Homes & Real Estate
A lot of change is happening in Oregon real estate right now. The good news is that most of that change is very positive.
Author: Fred Stewart
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Oregon Real Estate Update
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Th e Cities With The Highest Rent
Portland Oregon made the list!
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What’s Right with Reverse Mortgages | Knowledge@Wharton Today
A recent New York Times article profiled senior citizens who had lost their homes as a result of reverse mortgages, which allow people 62 and older to borrow money against the value of their homes and doesn’t require the loans to be paid back until they move out or die. In this op-ed, Wharton emeritus finance professor Jack Guttentag, who runs a website called The Mortgage Professor, argues that the story misrepresents the program, which he calls “one of the best engineered financial tools of our generation.” Home Equity Conversion Mortgages (HECM), or reverse mortgages, which are designed, administered and insured by the Federal Housing Administration (FHA), are one of the best engineered financial tools of our generation. It is designed to meet the widest possible spectrum of senior needs, from repairing the roof of their home, to paying for their grandchildren’s education, to touring the world, and…
View original post 931 more words
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Do You Owe More On Your Home Then It’s Worth?
HARP 2.0 (Home Affordable Refinance Program), allows owners of homes that are underwater in value to refinance at today’s low interest rates. The key requirement for HARP eligibility is that the home loans must be owned by Fannie Mae or Freddie Mac. This program was just extended (see here) for 2 more years.
Look up your property here:
The HARP Program is a fantastic way for Homeowners that owe more than 80% of the homes value to refinance to today’s Historically low rates!
HARP At a Glance
HARP allows homeowners, with the desire to refinance their current mortgage, take advantage of current rates despite the decline in home value. The ultimate goal is to allow a homeowner to do a mortgage refinance for a lower interest rate and overall monthly payment. Here are the general eligibility guidelines for HARP:
- There is no loan-to-value cap in the new HARP, for…
View original post 264 more words
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Do You Owe More On Your Home Then It’s Worth?
HARP 2.0 (Home Affordable Refinance Program), allows owners of homes that are underwater in value to refinance at today’s low interest rates. The key requirement for HARP eligibility is that the home loans must be owned by Fannie Mae or Freddie Mac. This program was just extended (see here) for 2 more years.
Look up your property here:
The HARP Program is a fantastic way for Homeowners that owe more than 80% of the homes value to refinance to today’s Historically low rates!
HARP At a Glance
HARP allows homeowners, with the desire to refinance their current mortgage, take advantage of current rates despite the decline in home value. The ultimate goal is to allow a homeowner to do a mortgage refinance for a lower interest rate and overall monthly payment. Here are the general eligibility guidelines for HARP:
- There is no loan-to-value cap in the new HARP, for…
View original post 264 more words
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5 Bedroom, 3.5 Bath Home is a Beauty in Beaverton, Oregon!
We are more than pleased to announce that 8365 SW 195th Pl., Beaverton, OR is available for sale! This home is quite the elegant abode on the Cooper Mountain. Amazing views highlight the 5 bedroom, 3.5 bath palace with over 3000 square feet to encompass the whole family. With granite counter tops, hardwood floors, 9 foot ceilings and a vaulted master suite, it is no wonder this Oregon home is highly sought after! Watch this video and see just why this may be your dream Oregon real estate after all!
The Godfrey Real Estate Group holds our real estate agents to the highest level of expectations. With premier Oregon real estate much like this home, we will only deliver the highest quality of work to offer you this premier house for the price you can afford. As a 5 Star Portland realtor from 2011-2013, Lori Godfrey of the Godfrey Real…
View original post 73 more words
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5 Bedroom, 3.5 Bath Home is a Beauty in Beaverton, Oregon!
We are more than pleased to announce that 8365 SW 195th Pl., Beaverton, OR is available for sale! This home is quite the elegant abode on the Cooper Mountain. Amazing views highlight the 5 bedroom, 3.5 bath palace with over 3000 square feet to encompass the whole family. With granite counter tops, hardwood floors, 9 foot ceilings and a vaulted master suite, it is no wonder this Oregon home is highly sought after! Watch this video and see just why this may be your dream Oregon real estate after all!
The Godfrey Real Estate Group holds our real estate agents to the highest level of expectations. With premier Oregon real estate much like this home, we will only deliver the highest quality of work to offer you this premier house for the price you can afford. As a 5 Star Portland realtor from 2011-2013, Lori Godfrey of the Godfrey Real…
View original post 73 more words
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Washington Park Aerial, 1939
There are some nice details to be found in this 1939 aerial looking down on Washington Park. The Rose Garden and reservoirs are evident in center. Canyon Road snakes down to Goose Hollow under the Vista Avenue Viaduct on the left. It appears the old Portland Railway, Light & Power Company’s building was still on the southwest corner of 23rd and Burnside. Enjoy!
(City of Portland Archives) -
Street Demonstration, SW 4th & Oak, 1932
From the police historical “Red Squad” archives is this 1932 image of anti-war protesters purportedly outside the Japanese consulate on SW 4th Avenue. The view is to the north and the first cross street is SW Oak.
(City of Portland Archives) -
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
Inventory25th Percentile
Asking PriceMedian
Asking Price75th Percentile
Asking Price04/08/2013 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
Inventory25th Percentile
Asking PriceMedian
Asking Price75th Percentile
Asking PriceApril 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.
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Found a Diamond in the Rough? Finance Your Home Purchase and Renovation Costs in an FHA 203k Loan
Are you a fan of Property Brothers on HGTV? They’re the guys who help homebuyers turn dilapidated houses into dream homes. Well, it’s probably the only show my husband and I agree on, so we watch a lot of it. (He’s not so into The Bachelor, and I’m not so into WWE.)
Until I became a loan officer, I always wondered how the financing behind the project worked. Now I think I have a good idea: It’s called an FHA 203k loan. An FHA 203k loan allows you to purchase a home and finance the costs of renovations into one loan. Read all about the program here on HUD’s website.
Here are the three main reasons why a borrower might opt for a 203k loan:
- The home the borrower wishes to purchase is being sold “as-is” and it has health or safety related issues that FHA will require to…
View original post 189 more words
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Found a Diamond in the Rough? Finance Your Home Purchase and Renovation Costs in an FHA 203k Loan
Are you a fan of Property Brothers on HGTV? They’re the guys who help homebuyers turn dilapidated houses into dream homes. Well, it’s probably the only show my husband and I agree on, so we watch a lot of it. (He’s not so into The Bachelor, and I’m not so into WWE.)
Until I became a loan officer, I always wondered how the financing behind the project worked. Now I think I have a good idea: It’s called an FHA 203k loan. An FHA 203k loan allows you to purchase a home and finance the costs of renovations into one loan. Read all about the program here on HUD’s website.
Here are the three main reasons why a borrower might opt for a 203k loan:
- The home the borrower wishes to purchase is being sold “as-is” and it has health or safety related issues that FHA will require to…
View original post 189 more words
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Oregon Real Estate: Getting Better
Willamette Valley Homes & Real EstateIt may be the name of a Beatles tune, but that also now describes real estate in some key areas of our state. If you prefer gardening to music, Portland metro housing is summarized with a springlike opening sentence in the following report: Portland’s real estate activity continues to blossom.
Most astonishing, Portland area home inventory as calculated in months has dropped from 4.5 to 3.2 in the past thirty days. Given current demand, this means greater Portland would run out of homes in 3.2 months. With this kind of increased competition among buyers for housing, real estate prices are likely to continue their rise. Independent media reports also confirm increased housing pressure, including this recent article on area real estate in the Oregonian newspaper.
Salem Area Also Improves
Housing around greater Salem is also getting better, but less evenly. Home prices are up throughout Marion and…View original post 83 more words
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Oregon Real Estate: Getting Better
Willamette Valley Homes & Real EstateIt may be the name of a Beatles tune, but that also now describes real estate in some key areas of our state. If you prefer gardening to music, Portland metro housing is summarized with a springlike opening sentence in the following report: Portland’s real estate activity continues to blossom.
Most astonishing, Portland area home inventory as calculated in months has dropped from 4.5 to 3.2 in the past thirty days. Given current demand, this means greater Portland would run out of homes in 3.2 months. With this kind of increased competition among buyers for housing, real estate prices are likely to continue their rise. Independent media reports also confirm increased housing pressure, including this recent article on area real estate in the Oregonian newspaper.
Salem Area Also Improves
Housing around greater Salem is also getting better, but less evenly. Home prices are up throughout Marion and…View original post 83 more words
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What Kind of Bird is That?
Eliot’s proximity to the river, the Fremont Bridge, and the established trees in our yards and nearby parks makes it one of the better eastside habitats for birds and bird watching. This includes Cooper’s Hawks that periodically visit (and nest) in Irving Park, Peregrine Falcons that nest in the Fremont Bridge, and Red Tailed Hawks that try to take backyard chickens. I have been visited by Great Blue Herons eating fish out of my, now empty, pond.
View original post 207 more words
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Overpass Construction, 1962
NE Weidler Street takes a small shoo-fly to the south while the permanent overpass over the Eastbank Freeway is being built in 1962. This view looks east on a landscape that no longer exists. You can see the overpass in the upper-right of this aerial view of the construction area.
(City of Portland Archives) -
Overpass Construction, 1962
NE Weidler Street takes a small shoo-fly to the south while the permanent overpass over the Eastbank Freeway is being built in 1962. This view looks east on a landscape that no longer exists. You can see the overpass in the upper-right of this aerial view of the construction area.
(City of Portland Archives)
OREGON REAL ESTATE ROUND TABLE 