Chris's Blog

21369 NE Oakview Dr. | Bend | OR | 97701

2008-04-23T13:23:32Z

21369 NE Oakview Dr. | Bend | OR | 97701

2008-04-23T13:21:51Z

This beautiful one owner home is located in the NE Bend neighborhood of Oakview. Attention to detail is an understatement when describing this home! Features include custom paint inside and out, new hardwood floors, newer carpet and tile floors, fully wrapped window and door trim, galley style kitchen with walk-in pantry, inset gas fireplace with antique mantle, oil rubbed bronze and brushed nickel hardware and light fixtures, large walk-in closet in master, media room upstairs with built in desk and Mt Bachelor and Cascade mountain views, abundant storage closets throughout home, alley access double attached garage fully finished with epoxy painted floors, RV parking and much more! This home is turn-key ready!

Home Buyers

2008-03-27T13:12:01Z

More Consumers Ponder Home Purchase
The number of consumers who say they plan to buy a home in the next six months rose slightly this month to 3.3 percent from 2.9 percent, despite an overall drop in consumer confidence.

According to a survey by the Conference Board, a private research group, consumer confidence fell 11.9 points to 64.5, marking a downturn in sentiment to levels usually seen only during recessions.

Consumer expectations about the future plunged to their lowest point since 1973, when a recession was followed by painful inflation.

Consumers expect inflation to reach 6.1 percent in the next year, the highest rate since the aftermath of Hurricane Katrina in 2005, when gasoline prices surged.

Short Sales & Forclosures

2008-03-20T13:08:27Z

I wanted to share my opinion on the Central Oregon market. It will be short and easy If you want to buy a home I believe you have a year to get some off the best deals ever in Central Oregon. If you have any questions why I think that get a hold of me.

New listing in NW Bend!!

2008-03-08T11:04:22Z

Features include Brazilian Cherry wood floors, slate countertops and floors, extensive use of crown molding throughout, and custom paint colors. 23' by 18' master bedroom with sitting area and French doors leading to the private deck overlooking the neighborhood below. 18' vaulted ceilings in the great room with many windows allows the Central Oregon sunlight to come in. Southern exposure in back yard with lots of natural light and a covered wrap around back deck perfect for entertaining. The oversized double car garage with work area finishes off this beautiful custom home. This is a must see for the most discriminating buyer.

· 4 bedroom

· 2.5 bathrooms

· 2272 sqft

· 7300 sqft lot

· Miles of trails

· Shevlin park

· Tumalo creek

· MLS # 2802224

Central Oregon is amazing!!

2008-02-20T13:24:30Z

With 300 days of sunshine a year (as many as Arizona!) and oodles of fresh powder come winter, the high desert country of Central Oregon is an idyllic playground for sports lovers. Rekindle your spirit with a gamut of possibilities such as world famous golf at more than 25 unique courses, coveted fly-fishing at over 150 rivers and lakes, and outdoor adventures including hiking, rock climbing at Smith Rock and an abundance of snow sports atop Mt. Bachelor. And what’s more, the region boasts an equally impressive selection of restaurants and breweries, a vibrant nightlife, unique lodging and a growing arts & music scene. Click Here To Experience The Central Oregon Lifestyle:

Nar's national forecast for 2008'

2008-02-11T11:44:23Z

NAR's 2008 Forecast
year	2006*	2007**
Interest Rates
30-year fixed***	6.4%	6.4%	6.5%
Home Sales
Existing-home price increases	1.0%	-1.7%	0.0%
Existing-home sales	6.5 million	5.7 million	5.7 million
New-home sales	1.1 million	796,000	693,000
Multifamily
Vacancy rate	5.9%	5.9%	5.6%
Rental rate change	4.1	2.9	3.8
Net absorption (units)	229,428	209,153	234,398
Office Space
Vacancy rate	12.5%	12.9%	12.4%
Rental rate change	5.2	6.1	3.1
Net absorption (square feet)	78.0 million	53.8 million	65.1 million
Industrial Space
Vacancy rate	9.4%	9.6%	9.4%
Rental rate change	1.4	3.9	3.7
Net absorption (square feet)	202.8 million	125.0 million	165.6 million
Retail
Vacancy rate	8.1%	9.3%	8.9%
Rental rate change	3.9	2.9	1.0
Net absorption (square feet)	10.7 million	12.1 million	19 million
Economic Indicators
Inflation rate	3.2%	2.8%	2.8%
Gross domestic product	2.9%	2.1%	2.8%
Unemployment rate	4.6%	4.6%	4.9%
* Estimated. Projected. * Average for year Source: NAR Research

Is it a good time to buy?

2008-02-07T10:47:13Z

I can't say for sure but if we have not hit bottom yet we are very close!

If you wait for the bottom you will not know it until it's passed you by!

Is it a good time to buy?

We think so if you can take a minute to read thru this, we hope to explain why. (statistic for Bend Oregon)

Þ Interest rates on loans are the lowest they have been in two years
Þ From May of ‘07 to Jan of ‘08 the median price has dropped 20% from 396k to 320k
Þ Price per square foot from Aug of ‘06 to Dec of ‘07 has dropped 24% from $206 to $157 a square foot
Þ Building permits have dropped substantially from Jun of ‘06 to Nov of ‘07 equaling an 80% drop from 165 to 34 issued
Þ Days on market from Aug of ‘06 to Dec of ‘07 increased 48% from 92 to 175
Þ Number of sales from Jun of 06 to Dec of 07 are down 69% from 248 to 77
Þ Number of listings in MLS system from Aug of ‘07 to Jan of ‘08 has dropped 23% the difference of 1623 listings to 1255.
Þ Opportunities are many!!

Making sense of your closing costs.

2007-10-10T14:32:50Z

Making Sense of Your Closing Cost

When you go to a lender to get and idea of what to expect for closing costs it can seem a little overwhelming. Below is a break down to help you understand your good faith estimate a little better.

Interest rate discount points are fees paid up front to the lender in exchange for a lower interest rate on a mortgage loan. Paying points lowers your mortgage rate because the lender is getting a prepaid portion of the interest rather than collecting it in the payments across the term of the loan. Points can be paid by the buyer/borrower or seller, or split between the two. A single point is equal to 1 percent of the loan amount. Who pays the points depends on what is negotiated in the purchase contract and what is allowable under the terms of the mortgage loan.

The loan origination fee, which can also be called a broker origination fee or broker fee, is a person's payment to their broker and the broker's company for their time in coordinating the home loan. The fee varies from 1 to 2 percent of the loan amount. Your broker will usually charge a processing fee in addition, which covers the overhead of preparing and processing the loan documents. At Countrywide Home Loans we do not charge you an origination fee because you are coming directly to Countrywide for the home loan.

Escrow fees are paid to a third party organization, usually a title company, which handles the funds exchanged throughout the transaction.

Lender fees usually include courier, document preparation, underwriting, and wire transfer fees. The amount listed on the good faith estimate for these fees usually won't vary. Tax service fees are also charged by lenders to cover the costs involved in tax related processes. Some third party services may include appraisals and credit reports. Both services are paid for at closing. The fee for the credit report doesn't usually vary from the good faith estimate, but the appraisal companies may charge different rates.

Title company fees will cover the cost of title insurance for both the buyer and the lender. It is customary for the seller to pay for their portion of the title insurance. The cost ranges from 0.3 percent to 0.6 percent of the value of the home.

Prepaid closing costs and escrows are costs you pay to yourself. This includes items such as prepaid interest, property taxes and hazard insurance. This money goes to the buyer's escrow account to be used on their behalf to meet tax and insurance obligations. The total amount of fees and prepaid items required, plus the down payment and minus seller contributions comes down to the total cash required for closing. A reputable lender will be able to provide a good faith estimate that is very close to the amount of the final settlement.

Fed Rate Cut Makes Homebuyers Winners

2007-09-25T12:34:33Z

Fed Rate Cut Makes Homebuyers Winners

WASHINGTON, September 18, 2007 -

The Federal Reserve's decision to ease its monetary policies will boost a housing market beginning to rebound, help restore consumer confidence in the real estate market, and could give a helping hand to borrowers with adjustable-rate mortgages(ARMs), according to the National Association of Realtors ^®.

"We believe that the Federal Reserve Board made the right move today in lowering the interest rate," said Pat V. Combs, president of the National Association of Realtors ^®and vice president of Coldwell Banker-AJS-Schmidt in Grand Rapids, Mich. "Making borrowing more affordable will make money more available and this could go a long way in helping turn around the sluggish housing market."

NAR, as the leading advocate for homeownership, believes that the Fed rate cut, along with home prices coming down in many locations and an increased inventory of homes to choose from, makes this is an excellent time to buy, Combs said. "The housing market has been correcting itself and restoring affordability. With interest rates on many conventional loans still at near historic lows and today's rate cut possibly making loans even more affordable, we believe the housing market will begin to recover over the coming year," Combs said.

Combs added that the lowered rate could also help those with ARMs as they reset.

The National Association of Realtors^®, "The Voice for Real Estate," is America's largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.

Lets have some mortgage fun!!!(it has been to serious)

2007-09-19T14:20:35Z

MORTGAGE BANKING DICTIONARY
Borrower : Otherwise intelligent consumer who believes lender should kiss him on both cheeks and give him the money - without all this credit report nonsense.

Closer: This person's only job is to salvage forty or fifty emergencies at the last moment of every end of month. This person is rarely sane.

Closing Date: Put into purchase contracts to give the closer fits of hysterical laughter.

Credit Report: Basis for advanced creative writing by Processor and buyer since white-out doesn't work any more.

Escrow Officer: A humorless individual who is only truly happy when they can blame the late closing on the lender.

Freddie Mac: Type of hamburger consumed in cars by loan officers.

Ginny Mae: Type of alcoholic beverage consumed in large quantities by mortgage employees.

Good Faith Estimate: Standard document which a loan officer presents to the buyer to confuse them further.

Loan Application: Document which mysteriously causes amnesia to the borrower concerning income, credit, bills, and ex-spouses.

Loan Officer: Highly qualified financial analyst who typically developed these skills while selling used cars or encyclopedias.

Processor: Overworked, underpaid person who collects the garbage received from the loan officer and transforms it into a real loan. These individuals are known to consume massive amounts of candy, popcorn, and cookies.
Rate: This figure is always higher than the buyer's uncle thinks it should be.

Realtor: Highly trained professional who nevertheless has trouble figuring out how to subtract the down payment from the sales price to get the loan amount, but has no trouble figuring exact commission without a calculator.

Underwriter: Conscientious employee otherwise known as "God". Their most difficult task is responding to loan agent's explanations of poor credit and income history while maintaining a straight face.

We need further information: We lost your file.

Your loan is in committee: The underwriter/Processors are having a three margarita lunch and we can't find them.

Got this from a countrywide person about there financial standing.

2007-09-10T16:07:41Z

Countrywide Asserts Soundness of Financial Position

Countrywide is America's number one mortgage lender and has been here to serve the needs of people and business partners for nearly 40 years. Our industry-leading strengths include:

1 - Solid Financial Performance

•· Ranked #91 on the Fortune 500 rankings, and 70th most profitable company in the United States in the same rankings.

•· Equity in excess of $14 billion dollars.

•· To-date in 2007, ahead of strategic plan objectives both in terms of volume and profitability. Countrywide's net earnings year-to-date are $919 million. In Q2 2007 alone, the company generated $485 million in net earnings.

•· Funded $113 billion in loans during Q2, and continued to grow market share

•· Earnings reflect the success of our diversification efforts. In Q2:

•- Pre-tax earnings in Mortgage Banking segment were $320 million

•- Servicing portfolio reached $1.415 trillion (back to being #1 servicer ahead of Wells)

•- Pre-tax earnings for the Banking segment were $129 million

•- Pre-tax earnings for the Insurance segment were $99 million

•- Pre-tax earnings for the Capital Markets segment were $110 million

Countrywide remains very profitable and in fact has been profitable for over 100 consecutive quarters.

2 -Ample Liquidity Cushions:

•· As of June 30, 2007, Countrywide had $186.5 billion in net available liquidity. In more detail:

•- Commercial Paper: At the Parent level (or Countrywide Financial Corporation) over 40 banks have committed to provide $11.5 billion of liquidity back-up on Countrywide's commercial paper. The banks are all AA rated or higher: JP Morgan, Bank of America, Citibank, Deutsche Bank, ABN AMRO, Barclays.

•- Countrywide Home Loans (CHL) has several asset backed commercial paper programs, whereby the commercial paper is backed by collateral (or loans). CHL has two single seller conduits that provide over 30 billion dollars of liquidity which receive the highest ST ratings from S&P and Moody's. CHL also has over $15 billion of committed liquidity through multi-seller conduits, which means CHL provides loans to the banks and they co-mingle these assets with other companies' assets and issue commercial paper to investors.

•- CHL has an additional $37 billion in committed warehouse conduit and repo facilities available.

•· In addition to short-term liquidity, Countrywide has other longer-term funding sources such as MTNs (medium term notes), convertible bonds, of which it just issued $4 billion at very competitive market prices in May. These are Trust preferred securities.

•· Finally, Countrywide has an additional wallet of over $64 billion in liquidity provided by Countrywide Bank assets which are supported by consumer deposits, Federal Home Loans Bank advances and repo agreements.

3 -Soon To Reap Bank Charter Benefits

•· Plan underway to integrate Countrywide's mortgage operations into Countrywide Bank. This affords the company the ultimate layer of protection. Yesterday, the OTS approved the migration of CHL into Countrywide bank. Going forward, Countrywide's loans will now fund in the bank's name.

•· Most importantly, Countrywide will have access to the Fed's discount window giving it access to billions of dollars of available liquidity if needed.

4 -Trust of Industry Experts

(See the attached analyst reports)

•· Both Moody's and S&P just reaffirmed their A / A1 credit ratings last week.

•· Merrill Lynch, in an analyst report released today said: "After Countrywide filed its 10Q last night, news reports highlighted a section of the risk section that said "the secondary market is experiencing unprecedented disruptions from reduced investor demand for mortgages." Based upon our review...the after-market move seems to be an over-reaction and we would recommend investors to accumulate stock...." "We think CFC has the financial strength and management acumen to succeed, and we think Monday's disclosure that it would buy retail branches from a small lender for pennies on the dollar suggests it is not overwhelmed by the secondary markets gymnastics that is wreaking havoc on weaker names."

•· Fox Pitt Kelton today issued coverage on CFC's stock with a "Buy" rating. Here is what they said: "The Company is likely to emerge from the current housing downturn with enhanced market share and improved economics....Countrywide will continue to generate significant excess capital and Fox Pitt sees a sharp recovery in the Company's earnings in 2009."

Conclusion While Countrywide will continue to face many challenges during this volatile period, we have the utmost confidence in our management and our employees to continue to demonstrate leadership in our industry to achieve our long-term strategic objectives.

Landscaped Lots 'Very Important' to Buyers

2007-08-24T16:24:49Z

Landscaped Lots 'Very Important' to Buyers
The housing downturn has many builders, real estate agents, and home sellers paying close attention to landscaping as a way to generate buyer interest and boost sales prices.

Research by the NATIONAL ASSOCIATION OF REALTORS® says landscaping is "very important" to almost 20 percent of buyers. Plus, University of Washington-Seattle researcher Kathleen Wolf says landscaped lots sell for about 7 percent more.

The exact amount depends on location. For example, Palm Beach, Fla.-based real estate agent Nancy Macaluso notes that palm trees and flowers can boost a home's price by 10 percent to 15 percent in comparison to the sales prices of properties without such landscaping.

However, most appraisers and tax assessors do not include landscaping in their valuations; and there are no standards governing how arborists and landscape experts calculate a plant's value.

Still, home owners are shelling out hundreds of dollars for yard appraisals as part of their marketing strategies, and builders are expanding their landscaping budgets.

Experts say sellers would be wise to maintain their yards, as unkempt trees and shrubs can conceal views that have the potential to boost sales prices by tens of thousands of dollars.

The Sky is not falling on the Mortgage Industry

2007-08-16T16:07:29Z

I Read this and felt the need to pass it on.

No, the Sky ISN'T Falling on the Mortgage Industry

If you have read the newspaper or turned on the television in the last month, you have probably seen a story or two about the mortgage business. The headlines have highlighted lenders going bankrupt, the elimination of certain types of loans, and the diminishing appetite of the secondary market to repurchase loans. Even the Presidential candidates have weighed in on the solutions to this current "crises."

Despite this rather sobering news, I remain optimistic about a return to a more traditional mortgage environment, and feel this is an inevitable correction to the mortgage marketplace, and not a "crises" as the news reports lead you to believe.

Q: How has the mortgage market changed in the last month?

A: American Home Mortgage, a nationwide wholesale lender (they were not a sub prime lender) experienced liquidity problems and declared bankruptcy. As a result, many lenders reacted by restricting loan programs that include loans with little or no down payment, as well as limiting loans allowing alternative income documentation (stated-no doc, etc). HOWEVER, many mortgage solutions still exist if you have reasonable credit scores.

Q: So, can consumers still get 100% financing on home purchases?

A: Yes. With reasonable credit and verifiable income you can still obtain 100% financing. Additionally, if you are self employed with good credit, stated income loans still exist if you have at least a 5% down payment.

Q: What about Jumbo Loans? Haven't those rates risen rapidly in the last month?

A: Yes. Jumbo Loans are defined as mortgages that exceed $417,000. In response to the latest developments in the credit market, many lenders quickly raised their rates to near 8% on a 30 year fixed mortgage, over a full point higher than a couple of weeks ago. However, a few lenders have since brought that rate down closer to 7% and we at Arbor Mortgage have a wholesale lender that is offering a 30 year fixed mortgage under 7% for loan sizes above $417,000.

Q: Can home owners still get favorable terms on refinances?

A: Yes. Again, so long as the borrower has solid credit and there is equity in the property, there are ample opportunities to refinance. Because real estate prices have leveled and in many cases, declined, an appraisal must validate the amount of equity still existing in homes before refinancing.

So, what does all this mean to you? Well, if you have buyers that are hesitating to move on their dream home, or are uncertain about the availability of financing, please have them call me. I will be happy to work with them to find the best loan available within their appropriate price range.

Thank you Rob Moore from Arbor Mortgage for this letter.

Click Here To Experience The Central Oregon Lifestyle:
<a href="http://www.liveinbendoregon.com/"

Today's Real Estate Market: The Best Time to Buy is Now!

2007-08-07T10:59:18Z

WITH THE MARKET CORRECTION NEARING AN
END, HOME PRICES ARE EXPECTED TO RISE AGAIN.
- Research indicates that home prices will not go any lower. While
certain local markets may see limited price declines, the national
picture remains bright. Pending home sales were up 4.3% in August,
an early indicationthat buyers are returning to the market.
- The national median home price rose1.6% in 2006 and prices
are expected toSustain thru the fourth quarter of 2007. As
prices begin to rise again buyers who donot act now could be making
a costly mistake.
REAL ESTATE REMAINS THE BEST INVESTMENT AVAILABLE.
- The average home purchased five years ago has appreciated 49%.
Even with the recent 2.2% decline in the median home price, this
still equates to a more than 45% return on investment for the average
homeowner. Media reports of a vast market decline are deceiving,
and consumers will benefit from purchasing a home now before
prices begin to rise once again.
- According to Forbes magazine (using U.S. Department of Housing and
Urban Development statistics), U.S. real estate sale prices increased
more than 56% from the beginning of 1999 to the end of 2004.
The S&P 500 index dipped nearly 6% during that same period.
- While year-to-year fluctuations are normal, real estate remains one
of the best performing and consistent long-term investments.
Median existing U.S. home sale prices have increased on average
6.5% each year from 1972 through 2006, and 88.5% over the last
10 years combined. For consumers looking for long-term and
stable growth rates, real estate is still their number one choice.

Click Here To Experience The Central Oregon Lifestyle:
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Great Deal in Bend Oregon

2007-08-03T11:10:18Z

$219,000 3/2 1118 plus sqft. NE Bend.

This is a great investment! Whether you want to move in or rent it out, this is an awesome house. Corner lot with a big front and backyard. Close to schools, shopping and hospital. Priced to sell!

Contact me at 541-228-4767 or go to the website below.

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GOOD NEWS

2007-07-24T10:26:26Z

GOOD NEWS

There may be good news on the horizon. A multitude of signs suggests that third-quarter existing-home sales will be better than resales registered in the second quarter of this year. Still, an added element of uncertainty regarding tightening lending standards makes it difficult to say definitively if the third quarter can close out with an improvement. I will go out on limb, however, and say that by the fourth quarter, existing-home sales will indeed show a marked improvement. May sales figures were low at 5.99 million sales (seasonally adjusted annualized rate). Closed sales in June and July could be similarly soft as pending home sales notched down for the third

Forcast off the NAR website. Lets all hope so right?

30% for referrals

2007-07-19T15:20:56Z

Calling all brokers out, prices are at an all time low in central Oregon and its not going toget much lower. So get your buyers ready to invest in central Oregon, and refer them to me. I will treat your clients like they want to be treated.

SEND THEM ON OVER!

Buyers I will represent you for FREE!!

2007-07-17T11:09:14Z

Do want someone who will represent your interests? Do you want the best deal possible? Tired of realtors just trying to get the deal done? Well give me a call lets see if we would work well together!

Chris Quinn
Broker
Century 21 Gold Country Realty
541-382-3333 office
541-228-4767 cell
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Refferal Tips & Strategies

2007-07-09T11:03:19Z

10 Innovative Ideas for Building Referrals

1. Develop a memorable, 60-second oral description of what you do-"I help people find the home they've always dreamed of"-and use it to describe your work to new acquaintances. -Ivan Misner, Business Network International, San Dimas, Calif.

2. Attach a Post-It note reading "FYI" and your initials to your newsletter or to an article of interest, and give it to clients. The note helps attract people's attention and makes the correspondence seem more personal.

3. Give past clients vouchers for a free 30-minute consultation with you that they can pass on to friends and family. -Patrick Seroka, "Keeping Customers for Life," Mortgage Banking, February 2000.

4. Offer real estate advice via your local paper or radio station to establish your presence in the community.

5. Choose a unique gift to send to past clients and referral sources each year-a special cake, a Halloween pumpkin, a spring flower arrangement-then repeat the same gift for several years. People will come to expect the gift and associate it with you in their minds.

6. Donate an annual amount to a local charity in the name of all your past clients and notify them of your gift.

7. Offer to work with a local insurance agent to help homeowners re-evalute the adequacy of their property insurance.

8. Work with a local college to present an annual economic forecast breakfast. Speak about the real estate market and ask one or two local business leaders to share their ideas on the future.

9. Take up a new interest. It will expose you to a different group of people that you might not otherwise encounter. If you've always been a sports fan, try a reading group. Or take group golf lessons if your idea of exercise is walking from the car to the mall.

10. Ask. Let people know that you welcome referral business.

TIP: Remember, today's buyer is tomorrow's seller. Don't be too fast to give in to a buyer's request for a lower price when you're negotiating on behalf of the seller. Buyers won't want to you represent them in a later sale if they think you gave in to easily. -Danielle Kennedy, How to List & Sell Real Estate in the 21st Century (out of print; Prentice Hall, 1999)

TIP: Don't take referrals for granted. It's five times more profitable to spend advertising dollars retaining current customers than acquiring new ones, according to Bane and Co., a Boston-based strategic consulting firm.