Angela's Blog

Vintage Charm

Angela Pernisco (Re/Max Equity Group) — Mon, 08 Jun 2009 20:54:15 -0500

Angela Pernisco | Re/Max Equity Group | 503-807-2146

1822 5th Avenue, West Linn, OR

Open and Elegant!

2BR/2BA Single Family House

offered at $399,000

Year Built	1899
Sq Footage	1,766
Bedrooms	2
Bathrooms	2 full, 0 partial
Floors	2
Parking	Unspecified
Lot Size	10,000 sqft
HOA/Maint	$0 per month

DESCRIPTION

Charm and character abound in this 1899 Victorian home. Enjoy large rooms with original woodwork and pocket doors, stained glass windows and wrap around porch. Wonderful open kitchen with French doors to the back deck. Don’t miss the climb up to the Cupola for views of Pete’s Mtn and lots of natural light!

see additional photos below

PROPERTY FEATURES

Central heat	High/Vaulted ceiling	Hardwood floor
Family room	Living room	Dining room
Dishwasher	Yard

ADDITIONAL PHOTOS

Front	Dining Room
Living Room	Kitchen
View	Yard

Contact info:

Angela Pernisco

Re/Max Equity Group

503-807-2146

For sale by agent/broker

Equal Opportunity Housing

Posted: Jun 8, 2009, 5:42pm PDT

Grandma Dollar's House

Angela Pernisco (Re/Max Equity Group) — Mon, 08 Jun 2009 20:39:54 -0500

Angela Pernisco | Re/Max Equity Group | 503-807-2146

1818 6th Avenue, West Linn, OR

Willamette Charmer!

3BR/1BA Single Family House

offered at $355,500

Year Built	1899
Sq Footage	1,255
Bedrooms	3
Bathrooms	1 full, 0 partial
Floors	2
Parking	Unspecified
Lot Size	5,000 sqft
HOA/Maint	$0 per month

DESCRIPTION

Nestled in the heart of Willamette this charming farmhouse has been newly renovated with period charm. This home features a large master bedroom on the main level, updated kitchen with a gas stove and wonderful backyard patio. Located near village shops and steps from the seasonal farmers market this is one of West Linn’s best buys!

-1255 square feet
-3 Bedrooms
-1 Bathrooms
-Orig. Feed and Grain Store Outbuilding Could Be Home Based Business (ck. w/city)
-New Furnace, Water Heater and Roof
-275 sq.ft. Covered Deck

see additional photos below

PROPERTY FEATURES

Central heat	High/Vaulted ceiling	Living room
Dining room	Dishwasher	Laundry area - inside
Yard

ADDITIONAL PHOTOS

Front	Stairs
Kitchen

Contact info:

Angela Pernisco

Re/Max Equity Group

503-807-2146

For sale by agent/broker

Equal Opportunity Housing

Posted: Jun 8, 2009, 5:22pm PDT

Doll House On Historic Register

Angela Pernisco (Re/Max Equity Group) — Mon, 18 May 2009 16:30:02 -0500

Angela Pernisco | Re/Max Equity Group | 503-807-2146

4708 Riverview Ave, West Linn, OR

Doll house on the historic register!

3BR/2BA Single Family House

offered at $298,800

Year Built	1896
Sq Footage	2,344
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	3
Parking	2 Uncovered spaces
Lot Size	6,000 sqft
HOA/Maint	$0 per month

DESCRIPTION

Doll house on the historic register! Wonderful open layout with charm and character in tact. New plumbing and electrical, water heater, roof, furnace, dishwasher, range and counters. Orig. fir floors and moldings. True Victorian Garden with cherry tree and raspberries. Huge shop in basement with tons of storage!

see additional photos below

PROPERTY FEATURES

Central heat	High/Vaulted ceiling	Walk-in closet
Hardwood floor	Living room	Office/Den
Dining room	Dishwasher	Microwave
Basement	Laundry area - inside

ADDITIONAL PHOTOS

Front	Entry
Photo 1	Dining
Master	Master Bath

Contact info:

Angela Pernisco

Re/Max Equity Group

503-807-2146

For sale by agent/broker

Equal Opportunity Housing

Posted: May 18, 2009, 1:20pm PDT

Bethany Charmer

Angela Pernisco (Re/Max Equity Group) — Wed, 06 May 2009 18:18:30 -0500

Angela Pernisco | Re/Max Equity Group | 503-807-2146

16253 NW Energia St, Portland, OR

Bethany home offering large rooms, excellent location and top
ranked schools.

4BR/2.5BA Single Family House

offered at $438,800

Year Built	1997
Sq Footage	2,831
Bedrooms	4
Bathrooms	2 full, 1 partial
Floors	2
Parking	3 Car garage
Lot Size	11,761 sqft
HOA/Maint	$0 per month

DESCRIPTION

Light and bright home offering large rooms and an excellent location with top ranked schools. This home features a large open kitchen, master suite with his/her closets & jacuzzi tub, 2 gas fireplaces, surround sound, AC, sprinklers and more. Outstanding value for this immaculate home!

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Family room
Living room	Bonus/Rec room	Dining room
Breakfast nook	Dishwasher	Stove/Oven
Microwave	Laundry area - inside	Yard

ADDITIONAL PHOTOS

Front	Family Room
Living/Dining Room	Sun Room
Back Yard	Back Yard

Contact info:

Angela Pernisco

Re/Max Equity Group

503-807-2146

For sale by agent/broker

Equal Opportunity Housing

Posted: May 6, 2009, 3:11pm PDT

Quiet Cul-De-Sac

Angela Pernisco (Re/Max Equity Group) — Mon, 04 May 2009 11:27:56 -0500

Angela Pernisco | Re/Max Equity Group | 503-807-2146

7439 SW Tenino Ln, Tualatin, OR

Established neighborhood boasts location and privacy.

3BR/2.5BA Single Family House

offered at $304,900

Year Built	1987
Sq Footage	1,784
Bedrooms	3
Bathrooms	2 full, 1 partial
Floors	2
Parking	Unspecified
Lot Size	10,696 sqft
HOA/Maint	$0 per month

DESCRIPTION

Well established neighborhood boasts location and privacy. Situated at the end of a quiet cul-de-sac this home offers a large yard with custom water feature, ample natural light and views of wildlife from every window. Large bedrooms and flowing layout with vaulted ceilings make this home a must see!

see additional photos below

PROPERTY FEATURES

Fireplace	High/Vaulted ceiling	Walk-in closet
Hardwood floor	Tile floor	Family room
Living room	Dining room	Breakfast nook
Dishwasher	Refrigerator	Stove/Oven
Attic	Laundry area - inside

ADDITIONAL PHOTOS

Front	Living Room
Bedroom	Kitchen
Back	Back

Contact info:

Angela Pernisco

Re/Max Equity Group

503-807-2146

For sale by agent/broker

Equal Opportunity Housing

Posted: May 4, 2009, 8:16am PDT

$164,900 - Upscale Gated Community

Angela Pernisco (Re/Max Equity Group) — Mon, 27 Apr 2009 13:12:32 -0500

Angela Pernisco | Re/Max Equity Group | 503-807-2146

5640 Summerlinn Way, West Linn, OR

Excellent location near shopping and freeways this charming townhome offers upscale living in a gated community. Tucked at the back of community for p

1BR/1BA Condo

offered at $169,500

Year Built	2002
Sq Footage	874
Bedrooms	1
Bathrooms	1 full, 0 partial
Floors	1
Parking	Unspecified
Lot Size	Unspecified
HOA/Maint	$187 per month

DESCRIPTION

Excellent location near shopping and freeways this charming townhome offers upscale living in a gated community. Tucked at the back of community for privacy this unit offers plenty of parking and hillside views. Live a simplistic and elegant lifestyle with high end finishes, gas fireplace and attached garage.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Tile floor
Living room	Dining room	Stove/Oven
Microwave	Stainless steel appliances	Washer
Dryer	Laundry area - inside

COMMUNITY FEATURES

Garage parking

Guest parking

Gated property

ADDITIONAL PHOTOS

Front	Kitchen
View	Open Layout
Living Room	Balcony

Contact info:

Angela Pernisco

Re/Max Equity Group

503-807-2146

For sale by agent/broker

Equal Opportunity Housing

Posted: Apr 27, 2009, 10:01am PDT

Short Sales Aren’t For Babies, But Babies Get The Cream Of The Crop

Angela Pernisco (Re/Max Equity Group) — Wed, 08 Apr 2009 13:05:02 -0500

I am not going to discount the difficulty of purchasing a Short Sale. However, when you have a good Real Estate Broker working for you it is not your hardship to bear. With a little patience you may find yourself owning a home at rock bottom price.

There are many causes behind the short sales that we are seeing on the market today, however, there is one truth to always keep in mind: Lenders do not want to see the home go into foreclosure. This simple fact is what allows a skilled negotiator to assist you in purchasing the home for a discounted price. However, there are also many misconceptions to keep in mind about short sales that you must be aware of.

•· Every short sale is NOT a good deal: just because the seller is selling the home for less than they owe on it does not mean that you are purchasing the home at a discounted price. It is important that you hire a Real Estate Broker that is looking after your personal needs not their own commission.

•· Many short sales are in poor condition: I have heard over and over that agents tell people to stay away from short sales because there is no warranty and the house is falling down. This is not always the case especially in this market. This may be the case with a foreclosure as they often sit unattended for many months before the bank lists the home, however, short sales have been occupied. Additionally, many of the short sales that we are seeing today are the result of over financed homes and devaluating property values; not neglect.

•· Hard cash talks: surprisingly, cash offers do not make a difference in short sales. The lender is looking at the bottom line and if it does not balance they will not accept the sale. However, lenders may want to see a substantial down payment to prove stability of the buyer.

•· Sellers are not motivated: My experience has been that sellers are extremely motivated in a short sale. Sellers want to be rid of the stress and anxiety caused by the potential of losing their home.

The bottom line of purchasing a short sale is that you must be patient as they often take several months to complete and have a strong Real Estate professional working for YOUR best interests. I would love to be the Broker to work with you through the process!

We May Get A Piece Of The Pie

Angela Pernisco (Re/Max Equity Group) — Wed, 11 Mar 2009 13:13:18 -0500

West Linn was one of the first Oregon cities to submit its application to receive a portion of the Federal Stimulus money for transportation upgrades. Among the list of potential projects is the HWY 43 project and funding for the Willamette Falls Locks.

The City is encouraging residents to contact Senator Merkley, Senator Wyden, and Congressman Schrader to encourage support of these projects.

The City of West Linn is working closely with Oregon's federal delegation in order to take advantage of every opportunity to receive a portion of the federal funds!

Financial Tip

Angela Pernisco (Re/Max Equity Group) — Wed, 11 Mar 2009 12:20:41 -0500

If you had purchased $1,000.00 of Delta Air Lines stock one year ago you would have $49.00 left. With Enron, you would have had $16.50 left of the original $1,000.00. WithWorldCom, you would have had less than $5.00 left.

But, if you had purchased $1,000.00 worth of beer one year ago, drank all of the beer, then turned in the cans> for the aluminum recycling REFUND, you would have $214.00 cash.

Based on the above, the best current investment advice is to drink heavily and recycle. - It's
called the 401-Keg.

A recent study found the average American walks about 900 miles a year. Another study found Americans drink, on the average, 22 gallons of alcohol a year. That means, on average, Americans get about 41 miles to the gallon. Makes You Proud To Be An American!

Your Neighbors Foreclosure is YOUR Problem!

Angela Pernisco (Re/Max Equity Group) — Tue, 10 Mar 2009 14:38:08 -0500

We are hearing about the many foreclosures affecting American homeownership but I have found that many sellers do not fully understand how they affect them individually. They may feel sorry for their neighbors who have lost their homes but they do not realize that their neighbor's loss is theirs as well.

When a home enters into foreclosure the bank prefers to unload it quickly. They do not have the resources to hold onto the home and rent it until the market returns and they have little interest in holding onto it to get the highest possible price. Additionally, many homes that reach the point of foreclosure have been neglected due to the homeowner's lack of resources to make necessary repairs. Some homeowners are simply frustrated and angry and take as much as they can before leaving the home which sometimes includes fixtures such as toilets and water heaters. As a result, the home is sold for significantly less than "market value".

Let's say that you have three neighbors who have recently lost their home in foreclosure. You have seen the effects of the market but you still have some equity in your home and you have maintained it well so you anticipate that your values are going to be much higher than the recent foreclosure sales. After having it listed for awhile you locate a buyer who is willing to purchase your home for the price that you have set because the buyer also sees the value of your home. This is where things can become sticky. The buyer, who has a solid 20% down payment on your home, orders the appraisal and it comes in $10K less than the accepted offer because the most recent comparable properties in your area include the foreclosures. As an agent, I am seeing this happen over and over in our market. Some banks are requiring multiple appraisals before they will finance your home while others are leaning heavily on the side of caution and using appraisers who will appraise on the lower end of the price spectrum.

What can you do to help the economy and devastating effects of foreclosure? Encourage anyone that you may know to pursue a short sale rather than allowing their home to go into foreclosure. Most banks would prefer to sell the home for less than what is owed if they see imminent risk of foreclosure. This allows the homeowner to sell their home for much closer to market value while also saving them from the long term repercussions of a foreclosure. Call me to discuss your situation or have your friends call to speak in more detail about what can be done to avoid foreclosure.

More Than Just A Sign

Angela Pernisco (Re/Max Equity Group) — Thu, 19 Feb 2009 12:38:56 -0600

I am NOT your average agent and I am confident that you will discover that you can rely on my knowledge, experience and confidentiality. My experience offers a sophisticated approach to analyzing your needs. After years of observation, interaction and training in the real estate industry, I am able to help you through every aspect of the transaction. This translates into a smooth move with a seasoned professional. The market is changing and what used to be a hot market is becoming an "intelligent market". The buyers today are thinking through their decisions more than they have over the past years and it is even more important to price your home correctly according to TODAY's market standards and have your home in top notch condition for showings. It is equally as important to know which repairs are worth doing and which repairs will not make the difference in the sale of your home.

I have found that many people have a misconception about what it is to hire a professional to represent you in selling your home. There are many agents to choose from and I have talked with many people who find the process daunting. There is much more to selling your home than simply placing a sign in the yard and waiting for the right buyer to drive by. In order to sell you home for the highest possible price you must expose it to the largest number of likly buyers. This includes online exposure, offline exposure and target marketing.

Call me when you are ready to sell your home to see if my strategies are a good fit for you. No pressure, no obligation!

Making Your Home An Experience

Angela Pernisco (Re/Max Equity Group) — Thu, 19 Feb 2009 12:25:16 -0600

Your home is most likely the largest investment of your life. Therefore, the sale of it is perhaps one of the most important decisions you will ever make. There is more to the home selling process than simply receiving an offer on your home and determining if it is a price that you can live with. When preparing your home for sale it is important to understand that buyers do not simply look with their eyes. Below are some tips to making your home an experience using all five senses...

The Five Senses:

Sight: Removing clutter makes each room feel spacious and comfortable. Buyers do not want to see how you live in your home, they want to see how beautiful it can be. A fresh coat of paint in a warm neutral color (not stark white) and house plants, whether artificial or real, give your home a sense of warmth.

Touch: Make sure your home is dusted and the counters are clean. Buyers will notice, whether consciously or sub-consciously, and make an assessment of your home based on this impression.

Sound: "Psychoacoustics" is the study of sound and the effects it has on the human nervous system. Soft music welcomes buyers into your home and creates a positive internal response to your home.

Smell: We all know how powerful our sense of smell is. It is so powerful that there is an alternative medical profession surrounding the science of it (Aromatherapy). The trick is to use the correct scents to stimulate a response and to not go overboard. Recommendations: Vanilla or Cinnamon Spice

Taste: Ever wonder why we have such fond memories of grandmas house? Perhaps it was the welcoming feeling of sitting around munching on cookies or the wonderful Thanksgiving spread. Provide your buyers with a welcoming treat, whether it be a plate of cookies or a dish of candies. This will make your home an experience that they will remember over the others that they have viewed.

Call me for a free consulation on how you can prepare your home for a sale!

Short Sales - Pro's and Con's

Angela Pernisco (Re/Max Equity Group) — Tue, 17 Feb 2009 14:42:47 -0600

In recent months I have experienced a wide range of response from sellers regarding "short sales". One end of the spectrum does not know what a short sale is while the other end knows a great deal about the process yet does not fully understand the process and what happens behind the scenes of a short sale. Today, I would like to discuss some of the key factors to be aware of during the short sale process.

What is a "Short Sale"?

A short sale occurs when the seller of a home owes more on the home than the current market will bring. For example: you owe $200K on your home yet the market value of your home is only $175K. You are now short $25K. Rather than going through the costs of a foreclosure, the lender may be willing to allow the buyer to purchase a home for less than what is owed.

Who is eligible for a "Short Sale"?

A short sale is designed for people who truly need to sell their home to avoid foreclosure. It is not an "easy out" to avoid credit issues or an option to reduce the price so that it will sell quickly. Short sales will negatively affect your credit scores; in fact, many lenders will not even consider a short sale unless you are several months behind on your mortgage payment and nearing foreclosure. Additionally, many lenders will require that your home be on the market for at least 3 months prior to considering any offers that have come in.

You should also be aware that you may be taxed on the shorted amount to the bank. The IRS may view the shorted amount to the bank as income. There are certain circumstances that are exempt from this as a result of the Mortgage Forgiveness Debt Relief Act of 2007 so I recommend you consult your accountant.

Surprises and Pitfalls:

Over the past year or so we have experienced a large number of foreclosures due to the drop in market value of homes across the country. As a result, lenders have both streamlined and become stricter about the short sale process. Lenders do not care if you made a bad purchase decision, became pregnant and can no longer work, or chose to move into an apartment. The latter concepts are considered "lifestyle" decisions that typically do not sway a bank's decision in your favor. Banks will consider unemployment, divorce, medical emergencies, Bankruptcy and death to be true "hardships".

Interestingly, there is no set formula to tell us whether or not a bank will accept a short sale. Not only do you have to prove to the bank that you are unable to pay, that they will likely see your home in foreclosure over the next few months, that this is the highest price that they will likely receive, etc. The bank will also analyze the negative and positive effects to their personal business while making the decision. For example: your loan is considered a negative asset if it is in default. In the past, banks did not want to maintain negative assets as they wanted to provide stronger portfolios to their investors. However, due to recent legislation, it is actually to the benefit of some banks to show negative assets as it can potentially position them to receive government bailout funds. There is absolutely no external way to forecast what a bank's decision will be on your short sale proposal.

What does this mean?

A short sale is something to consider if you are nearing foreclosure and have no other option to save your home. There are no guarantees that the bank will accept your short sale offer, however, you may save your home from the long term effects of a foreclosure.

Why Sell For Sale By Owner?

Angela Pernisco (Re/Max Equity Group) — Mon, 26 Jan 2009 15:41:41 -0600

As a Realtor I will admit that I am biased and feel that most people need the assistance of a Realtor when selling their home. However, I also strongly feel that there are many people who are perfectly capable of selling their home on their own without the assistance of a Realtor so please do not view this article as "preachy".

Recently I read "Why Sell For Sale By Owner" at www.homesbyowner.com and have to admit that I received a good chuckle. The web site answered this frequently asked question listing the following 7 reasons. I have listed my responses after each point.

1. Less Hassle and Frustration:

a. You don't have to leave the house when showing: the purpose of leaving the house during showings has proven psychological benefits to the buyer that actually make them more likely to purchase your home. They are able to relax and openly express their feelings in front of their Realtor. For example: the buyer does not like the wood paneling on the walls and comments on it to their Realtor. As a seasoned professional I would recommend options for the client to either remove or lessen the appearance of the paneling and re-direct them to items that they like about the home. If the homeowner is not trained to direct conversations, the buyer may interpret the same response as a sign of desperation and low ball the seller or not ever make it past the walls and therefore not see anything they like about the home.

b. You can know when people are coming: The majority of agents will notify you in advance of showings. However, with the inventory as high as it is, if someone happened to be in the neighborhood and wants to take a look at your home I suggest you show it as it is a buyer's market and they just may be your buyer!

c. Your negotiation can be done in minutes: This was perhaps my favorite. Negotiation is a skill, an art form and yes, a special talent. Every person alive has the ability to purchase but not everyone has the ability to purchase for the best price every person has the ability to sell but not everyone has the ability to sell for the highest price. One of the primary principals of negation requires time. Two cowboys in a shootout rarely turn around and start shooting immediately; they stare at each other eye to eye and watch for a twitch or a sign.

2. You Can "Sell" Your Home Better Than Anyone Else: Are you kidding me! You may be able to sell your rental property on your own but the house that you live in? One of two things will happen (I know this from personal experience): 1) you love your home so much and every time you see the sunshine yellow paint in your child's room you see their face. Therefore, it is obvious that your home is worth $10K more than market value 2) you hate the neighbor and your dog is buried in the back yard. You can't get out of the home fast enough and therefore your home is worth $10K below market value. When option one occurs your feelings become hurt because you don't understand why no one will see what you see in your home. When option two occurs the buyer can read that negative vibe that you portray and does not buy for fear of what is not being said.

3. You Are In Control: It is true that you have the freedom to advertise where and how you want to, schedule showings, etc. However, there is a reason that the system is designed as it is. In a buyers market, it is all about the buyer and preparing your home in a way that a buyer will want to purchase it. If you force buyers to play by your rules they simply will not bother to look. Agents also know where to effectively market your home to maximize buyers many of which you may not even be aware of. Ultimately, you spend a great deal of money in areas that will not attract the RIGHT buyer.

4. More Money In Your Pocket: Yes, it is true, the concept of the total commission can be daunting. However, I don't think I need to say much more than what was said in 1c. and 3. You only save the money if you negotiate the best possible price, sell it in a reasonable time frame (saving monthly mortgage payments) and don't advertise in the wrong places. Additionally, did you know that the National Association's Profile of Buyers and Sellers shows that sellers who sell on their own typically sell for 15% less than those properties that are listed?

5. You Can Sell Faster: Unless you determine the fair market value of your home and reduce the price by at least 7-8% you are not likely to sell your home faster. You see, buyers are knowledgeable about commissions as well and expect to save money by not using a Realtor. Therefore, they are naturally going to expect a reduced price. Extremely savvy buyers also know how to make your home to appear to have more issues than it actually does or more serious repairs than they actually do therefore reducing your price even lower. It is also likely that you are lacking the marketing exposure and we all know that multiple offers bring in a higher price. Interestingly, multiple offers still exist in a buyer's market.

6. Less Uncertainty: If your Realtor is doing their job you should not have any feelings of uncertainty. I send each of my clients written weekly updates on the market (as well as regular direct conversations). These updates include any market changes, what buyers as well as other agents have said about their home, suggestions for improvement, etc. Again, going back to the negotiation topic in 1c. it is not about what the buyers and their agents say, it is about what they don't say and knowing how to read between the lines.

7. Easy To Do: Ok, I promise this is the last time I will say this. Anyone can purchase something the question is did they purchase it for the right price and anyone can sell something the question is did they sell it for the right price. Negotiation, negotiation, negotiation...

As I said, I am certain that there are many people who are completely capable of selling their home on their own and if you are one of them I truly wish you the best of luck. However, make sure you honestly asses your personal negotiation skills, personal attachment to your home, and pricing strategy. If you decide that it may be more than you want to deal with, call me and we can sit down and talk about the best strategy to get your home sold at top dollar!

Isn't Obama Fun!

Angela Pernisco (Re/Max Equity Group) — Mon, 26 Jan 2009 13:21:11 -0600

I have to admit, I have not had so much fun with politics in years. In fact, despite the fact that I worked for two Congressmen in the past, I don't know that I have ever had so much fun with politics!

In just a few short weeks we have experienced a drastic change in cultural, political and economic attitude and nothing substantial has changed. I have experienced an overwhelming sense of cross cultural connections and new bonds that are being created in the effort to achieve a common goal. I am amazed that we are now hearing of both Republican and Democratic joined efforts to work together and expedite passage of legislation after years of hearing of Bill's that likely will not pass because of disagreement on how they should be structured. Most importantly, I am finally hearing a sigh of relief stating that we may have hit bottom and that things will begin to turn around.

It is amazing what a figure of hope can bring to our overall outlook. President Obama has not come in and waved a magic wand. In fact, he has not signed all that many Executive Orders (which I have to admit I half expected). What he has done, however, is build our confidence by effectively communicating his plans, promising transparency of government and going straight to work!

Don't Forget Mom and Pop

Angela Pernisco (Re/Max Equity Group) — Tue, 20 Jan 2009 16:39:33 -0600

While listening to Obama's inaugural speech this morning I was struck once again by his perspective that our country is not going to turn around simply because there is a new President in office. His focus is, and always has been, teamwork. We as a nation need to work together to create change. President Obama is going to do his part to create avenues for us to prosper but it is up to us to use those avenues for the greater good.

What has made the United States a country that people desire to become a part of, to the extent that they leave their own countries to create a new life here, is the hope of the American Dream. Many of us who have lived in this country our entire lives have forgotten what that is. According to Wikipedia the definition of the American Dream is:

"The freedom that allows all citizens of the United States to pursue their goals in life through hard work and free choice."

Obama is challenging each and every one of us to support this dream. The question I asked myself this morning is how I can participate in supporting the American Dream. What can I change about my daily routine to contribute to the bettering of our country?

For me, the answer was clear. I can't think of anyone working harder to pursue the American Dream than the local "mom and pop" shops scattered throughout our country. They range from coffee shops to drycleaners to butchers to builders. If we all made a personal decision to support our local businesses our countries success would grow exponentially. Our job market is overcrowded and the unemployment rate is high; much of this could be remedied by supporting those around us who are working hard to create their own American Dream.

This is not always easy as it forces us to drive farther out of our way, pay a little more and get out of our cars rather than using the drive through. However, I have challenged myself and challenge you also: choose to support your local neighbors whenever the opportunity arises and watch how our country grows!

Sellers Loss Buyers Gain

Angela Pernisco (Re/Max Equity Group) — Fri, 16 Jan 2009 15:26:31 -0600

You would be hard pressed to find a better location! This home is situated across the street from the Nike World Campus, less than a mile from the nationally acclaimed Tualatin Parks and Recreation facility and a short jaunt to either Hwy 26 or Hwy 217 depending on which direction you travel.

Lovingly maintained this three level townhome has a wonderful open layout with dual master bedrooms. Plenty of space with a 2 car tandem garage and closets galore!

All offered at: $164,900 ~ can you rent anything for less than $1000 per month?

Loan Modification

Angela Pernisco (Re/Max Equity Group) — Fri, 16 Jan 2009 15:15:38 -0600

We have heard it over and over; "change is not going to happen overnight, it takes time". Logically this is a very accurate statement. However, for the millions of Americans who are hanging on by their fingernails and need immediate change this is not an encouraging statement. There is hope however.

I have written before about HOPE for Homeowners; a program created by Congress to assist homeowners at risk of foreclosure. This program may not be for everyone, however. One of the drawbacks of this program is that you split your equity with the federal government when you sell. For example, if you sell your home within 5 years the government will receive 90% of the equity on your home. In year 5 the government receives 60% of the equity and any time after 5 years the equity is split 50/50%. When I see this I think of those who plan to stay in their homes for many years to come and may ultimately have a great deal of equity when the time comes to sell. Good news, there is another option.

Today I am going to discuss "loan modification". This is an agreement made between you and your lender modifying the terms of your existing mortgage. With the new generation of financing we have seen variable rates, low money down and negatively amortized loans (your principal grows as you are paying less than the interest on the loan). While these loans worked well to initially get a person into a home they are dangerous in the long run. Loan modification is simply that: modifying the existing terms on your loan.

The loan modification process is not easy and many may need the help of an attorney to navigate these complicated waters, however, here are the basics:

•1. You must be able to show your lender that it is in their best interest to grant you the modification. Simply stating that you want a lower interest rate is not going to cut it (this is called a refinance). The lender will need evidence of your financial struggle to pay your current mortgage at is present terms. Keep in mind, if your present situation is so dire that you cannot afford new "reasonable" terms they will not consider a modification.

•2. Do your research and have a plan. Remember that the Loss Mitigation department of your loan servicer is well trained to reduce losses to the company and are going to get as much out of you as possible. Be prepared with your income and expenses. Collect your W-2's, gather your past 3 years of taxes and at least 6 months of bank statements to support your income. Pull together your bills to show your expenses. It is also important to document why you have fallen behind (receipts for unexpected expenses, letter from employer showing hour cutbacks, etc.).

•3. Know who to talk to. There are two departments who you will likely come into contact with, they are Collections and Loss Mitigation. It is important to know this so that you do not waste too much time talking to the wrong department.

•4. Be prepared. Oh, did I already say that in #2? This is the most important aspect of the process. If the evidence that you show the lender indicates that you cannot afford the home with new "reasonable" terms then they will not spend the time to modify your loan and simply allow it to go into foreclosure. However, if the information that you provide shows that you have an excess of income they will feel that you should be able to make your payments and not modify the loan. It is crucial that your numbers fall in line with what your goals are of the modification.

•5. Paperwork, paperwork, paperwork... The remainder of the process is paperwork similar to what you would complete in order to obtain the loan, however, in reverse. Now you are proving that you are financially incapable of making the payments.

There you have it, another option to help you hang on a little longer in these rough economic times. This is certainly a simplified version of a very complicated process that could last 60-90 days. In fact, for many it may be worthwhile to hire an attorney to assist you through the process but it is possible to do it on your own!

No Money? How About Your First Born…

Angela Pernisco (Re/Max Equity Group) — Thu, 04 Dec 2008 13:20:14 -0600

I have to admit, I understand how some mortgage brokers could have become caught up in providing creative financing to many innocent buyers with no money and little ability to make monthly mortgage payments. After all, I suspect that many lenders trusted the fact that these buyers understood that they would be paying more on their mortgage payment than their current rent payment. I am certainly not justifying the lenders that are now being called "predatory lenders" I am simply stating that I can see how it can happen.

What I don't understand is the new generation of so-called predators under the guise of a "loan-modification" company. These are companies that ask for money up front to negotiate with banks. The problem with these companies is they cannot guarantee their promises of reducing the interest rate or saving foreclosure and many if not all do not refund the upfront money. There is no doubt that these companies work hard in their attempts, and there are definitely ways to modify your loan, however, if you are financially strapped you should not have to pay someone to do it. The best way to modify your loan is directly through your bank. There are also some wonderful non-profit organizations that can help you as well. You can find a non-profit counselor to assist you at the FHA website: http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm

Clean Kids Club

Angela Pernisco (Re/Max Equity Group) — Thu, 13 Nov 2008 15:51:24 -0600

Are you ready to sell your home but worried about the kids rooms? You are not alone. One of the largest stressors in selling your home is having it ready to show and if you are family with children the idea can seem daunting. Rather than fighting against the nature, or should I say natural disaster, of your child sign them up for the Equity Group Clean Kids Award. This is a monthly award that I offer to your child for keeping their rooms clean. They will receive a certificate and gift for each month that they have helped during the sale of your home!

Helping Our Communities

Angela Pernisco (Re/Max Equity Group) — Thu, 13 Nov 2008 15:39:34 -0600

As a realtor, we not only assist people into new homes, we also care for our communities. One of the many ways that we achieve this is through the Equity Group Foundation. This is a charitable foundation where agents and staff contribute time and resources to help local organizations dedicated to meeting the needs of our neighbors.

Local charities, especially those that are smaller without national or federal funding, are assisted through this organization both physically and financially to assist with specific causes. In the last six years The Equity Group Foundation has invested more than $516,000 back to our communities.

Some of the most recent grants offered are:

•· Bradley Angle House - to assist woman and children suffering from domestic violence

•· Calvin Ranney & Craig - to assist families with seriously ill or disabled children

•· Royal Family Kids Camp - a camp offered to foster children providing them with memorable summer experiences

•· Human Solutions - an organization offering temporary housing for individuals and families who are transitioning into permanent housing

•· KEX Kids Fund - a program to provide hearing and vision care to families who could not otherwise afford it

•· Dinner & A Movie - provide a month of Tuesday night meals to homeless and impoverished youth

If you are interested in contributing the great work that the Equity Group Foundation has to offer or are simply interested in learning more about it you can visit the web site at: www.equitygroupfoundation.org

$225,000 - View Lot

Angela Pernisco (Re/Max Equity Group) — Wed, 12 Nov 2008 15:26:46 -0600

Unbeatable views! Enjoy this highly sought after neighborhood with walking trails along the river, blocks from downtown Historic Willamette and many neighborhood parks. Utilities are in and ready to build. Bring your builder or will build to suit.

$689,000 - Bring Your Builder or Will Build To Suit

Angela Pernisco (Re/Max Equity Group) — Wed, 12 Nov 2008 15:22:41 -0600

Exceptional views from this ready to build lot in sought after neighborhood. Will build to suit by high end local builder. Some of the features included: hardwood floors, granite counters, cherry or oak cabinets, and tile floors. Located a block away from the Tualatin River and a few blocks from downtown Historic Willamette this is truly a place to call home!

$299,900 - Ready To Build View Lot

Angela Pernisco (Re/Max Equity Group) — Wed, 12 Nov 2008 15:18:44 -0600

Financial Security = Tangible Investment

Angela Pernisco (Re/Max Equity Group) — Wed, 12 Nov 2008 14:35:10 -0600

We have made it through the elections and regardless of whether or not your candidate was elected President, we all know that change is approaching. These changes will not happen on January 20, 2009 when Barack Obama takes office, in fact, we may not see any significant changes for a year or more. However, based on Obama's campaign, some of the changes that we can expect are:

•· Significant tax relief for middle/lower class, small businesses as well as Senior Americans.

•· Improve job security by encouraging American companies to keep jobs at home.

•· Invest in clean energy by providing financial means to create, educate and implement new energy sources.

•· Encourage technology and innovation by investing in the sciences.

•· Create accountability within the mortgage industry as well as more simplified disclosures.

•· Protect consumers from predatory credit card and lending practices.

•· Expand the family and medical leave act, expand after school opportunities, and expand the child tax credit.

I know what you are thinking: "Enough is enough, I have been hearing this for the last 10 months!" However, I wanted to mention his platform one last time as a reminder that there are some very positive changes coming our way at a time where our country needs it the most.

Did you know that economists are saying that the most recent decline is due to the "psychological impact" of the stock market? Many first time buyers have decided to wait to purchase, however, market conditions are ideal for first time buyers, move up buyers and investors. Interest rates are at historic lows for conventional and FHA financing and there are still a large number of loan options available despite media created perceptions. One thing remains true, homeownership continues to be one of the safest, most solid long term investments a family can make. Your home is a tangible investment that barring deferred maintenance and natural disasters will grow your personal wealth exponentially over the coming years.

As always, if you know of anyone in the market to buy or sell a home or simply has questions about the process, I will work hard to get them the best possible price so that they can begin to build their own personal wealth!