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real estate: Buying a Foreclosure - the Realtor - Part 2 - 02/11/09 04:26 PM
You read my last post about some of the problems encountered with a foreclosed property and have gotten yourself set up with a knowledgeable lender and are ready to proceed with the next step in the process. This step in purchasing a foreclosure is probably one of the most important there is in the process, especially for the first time home buyer. If you have bought a home before, you may already be familiar with the process, but if you haven't, it can be daunting. That is why step two is: Finding the right Realtor®.
I am not the world’s greatest expert on Realtors®, … (3 comments)
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real estate: Indications that things are turning around or blips on the radar? - 01/27/09 04:27 PM
I just posted a new article on my website about recent financial reports and the possibility that we may be approaching the bottom of the Real Estate Market. Now, I am no Guru, but I read the stuff that is coming out and there is a possibility that things are turning around and if they are, it is time for those sitting on the sidelines to get in the game. If they aren't???? Author: fchamberlin // Category: Bank Owned properties, Eugene Homes for Sale, Eugene Oregon, Florence Orgon, Interest Rates, Local Information, Mortgage Loans, Real Estate Loans, Springfield, lane county, refinance
… (17 comments)
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real estate: Town Hall meeting to discuss Real Estate Mortgages and changes to FHA, USDA, and Conventional Loans - 12/06/08 12:52 AM
Yesterday, Alpine Mortgage Planning held our first Town Hall meeting to discuss changes in the lending environment for Eugene/Springfield Realtors®. The presentation covered conventional financing, including changes in loan to value, credit scores and income documentation; FHA financing, including changes in inspection and appraisal requirements, down payment and the 203k Streamline program; Down Payment Assistance programs and the Oregon Bond Program, including HAP, SHOP and PAL; Cultural Differences from Carmen Ayub specializing in the Hispanic community; USDA Rural Guaranteed program, a true 100% financing program and the new FHA HECM Reverse Mortgage purchase program. I get to thank Eleanor Thorne for … (4 comments)
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real estate: Why I Love My Real Estate Profession - 10/28/08 12:26 AM
I have Leslie Stewart to thank for this honor.
That said, I think that it was totally unfair for her to tag me. I am filing an official complaint and want witnesses to the conspiracy that has landed me, a lender, with the title of a Real Estate Professional. Oh, what a name to hang on someone in this marketplace. However, I must say that I am actually proud to be part of the Real Estate Profession. I take great joy in helping people to get their first home. I know that the "Great American Dream," has been misused in the … (14 comments)
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real estate: Kelly Seeley, Prudential Preferred Properties, Realtor, Eugene OR. - 09/05/08 11:27 PM
Hi everyone. I want to introduce Kelly Seeley, Prudential Preferred Properties, Eugene OR. Kelly is new to Active Rain, but hitting the road with a vengence. I just got her signed up yesterday and already she has 3 blog posts. Wow! You can visit her profile here. Kelly is signed up under Junction City because that is one of the areas that she specializes in. She will help you anywhere, but this is a good start.
I am happy to have sponsored Kelly and look for great things from her. Welcome Aboard Kelly! … (9 comments)
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real estate: It's Getting Easier to be Green, Says Federal Reserve Bank of San Francisco - 08/28/08 04:32 PM
I just received my link to the Summer newsletter from the Community Development Department of the Federal Reserve Bank of San Francisco. You can access the entire newsletter, "Community Investments" by clicking here.
This issue is their Green Issue. In this issue, they ask what does it mean to go green? "But for many developers-nonprofit and for-profit alike-greening is a new concept, and assistance is needed in determining which types of designs, materials, and technologies truly contribute to the kinds of outcomes noted above. Is it enough to offer recycling bins? Or to use non-toxic paints?"
Discussion of Leadership in … (4 comments)
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real estate: Market got you down? Don't know what to do? Check this out! - 08/18/08 11:45 AM
Bobby McFerrin said that life equals trouble and had a very simplistic solution:
Don't Worry, Be Happy Take a look at this and see if you agree.
Take this advise and team it with planning and execution and then you got a good shot of surviving the "Real Estate Crisis." Put a smile on your face, it makes them wonder what you have been up to. The pie has gotten smaller but there are fewer of us to eat it.
… (2 comments)
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real estate: Perseverance and Persistance - 07/31/08 01:34 PM
Do you feel like you have been knocked down and counted out? Have you taken it all and am not sure if you can come out for the next round? I know that right now, it seems that everything that can go wrong in the industry is and has, so I guess it is time for some advice from the past.
"Nothing in this world can take the place of persistence. Talent will not; nothing is more common than unsuccessful people with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of … (14 comments)
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real estate: Bad news breaks for Eugene economy - 07/24/08 11:35 AM
Yesterday marked a pretty bleak day for the Eugene economy. For the news, please check out the following news release:
Seoul, July 24, 2008 - Because of short- and long-term market conditions, which include a steep reduction in the price of memory chips worldwide and accelerated technological migration towards next-generation production standards, Hynix Semiconductor Inc. has decided to close its Eugene fabrication facility. The production of the fabrication plant will be eventually stopped by end of September. As part of the deliberations that led to this shutdown, Hynix Semiconductor Inc., the parent company of Hynix Semiconductor Manufacturing America Inc., … (0 comments)
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real estate: Washington State Fines Mortgage Company - 07/23/08 11:50 AM
According to an Associated Press article in the Oregonian, Washington has fined Paramount Equity Mortgage Inc., $50,000 and started proceedings to revoke the California company's license to do business in Washington. The link to the story is here: Breaking News
Paramount is accused of charging and collecting unearned fees, charging consumers to buy down interest rates without actually reducing rates, failing to make required disclosures and making state and federally required disclosures in a deceptive manner.
The company has not admited wrongdoing and plans to appeal the ruling.
I cannot be certain of the facts in this case. I do know … (1 comments)
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real estate: Oakridge/Westfir Summer Concert - 07/22/08 03:12 PM
This weekend is the Oakridge/Westfir Summer Concert headlined by Amy Clawson, a favorite local C&W singer. Amy is well known in the area and has been a regular at many fund raising and special events in and around Lane County.
The picture to the left is from her MySpace page where you can go to hear some of her recordings. Personally, Cowboy Up is one of my personal favorites. She will also be at the Douglas and Lane County fairs later this summer. You can see her complete schedule at http://profile.myspace.com/index.cfm?fuseaction=user.viewprofile&friendid=120478169.
Shannon Reigns and Taylor's Crossing, Taryn Cross, Bob Manning … (3 comments)
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real estate: Interest Rates - 07/18/08 11:53 AM
I have been telling everyone that would listen that "NOW" is the time to buy the house you want. Interest rates are great, prices have leveled off or dropped a bit (in the Eugene area), and even if the price on a $250,000 home dropped another $10,000, a rate change of 3/8 of a percent would make nearly the same payment anyway.
Well, we have just seen mortgage bonds fall to their worst levels in 2008. We have also seen rates increase about 3/4 of a percent, instead of 3/8. So, has it done any good to wait?
Being an Oregon … (5 comments)
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real estate: Jumbo Loans - 07/15/08 12:57 PM
I have received comments lately from Realtors about how they read that jumbo loans were hard to get. To this, I have to answer in the affirmative. Jumbo loans are more stringent in their underwriting than they were just about a year ago. The loan to value is lower than it was a year ago. The interest rate is higher than it was a year ago. The number of lenders offerring jumbo loans is lower than it was a year ago.
With all of that, the good news is that there are still jumbo loans available. The cut off point for … (0 comments)
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real estate: The 2008 Great Rotary Duck Race - 07/12/08 10:41 AM
Every year the Eugene/Springfield area Rotary clubs sponsor the Great Rotary Duck Race to fight child abuse in Lane County. This year's constest will be October 4, Alton Baker Park, Eugene OR.
In 1988, the incoming presidents of the Eugene/Springfield Rotary Clubs agreed to have a community-wide fundraiser and to make a difference in our communities. The Duck Race was unanimously adopted by the area Rotary clubs as a fun vehicle to attract and hold public attention and support. The proceeds of the first two races were earmarked for the Community Substance Abuse Consortium. The following years, intervention and prevention of … (0 comments)
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real estate: Licensed Oregon Mortgage Brokers - 07/08/08 12:11 PM
In January of 2007, there were more than 13,000 licensed mortgage loan originators in Oregon. As of the Independence Day holiday, that number was down to 6,985 with less than half of them living in Oregon. It appears that the wheat is being separated from the chaff.
I have been working in the mortgage industry before there was a license requirement. I supported the licensing requirement for mortgage originators, expecting it to make our industry more responsive and responsible. In some ways it has, but nothing the way a downturn in the market has.
If you have lost your loan officer, I would … (10 comments)
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real estate: Oil, markets and pricing - 07/01/08 12:38 PM
The big news in mortgage pricing is oil. Again today, oil topped $143 a barrel and this means that the price of almost everything goes up. When the prices go up, that means inflation. When you have inflation, that means that mortgage rates, that hate inflation, go up.
What can be done about it? The best thing to help inflation would be to lower the price of oil. Oil is priced in dollars, so a weak dollar means higher priced oil. Oil has doubled in price since the Fed started lowering the discount rate and the dollar became weaker agains the … (0 comments)
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real estate: Down Payment Assistance Programs - 06/27/08 02:20 PM
What are DPAs?How do they work?Who is eligible for a DPA?Why use a DPA?These are a few of the questions asked about the down payment assistance (DPA) programs that I get on a regular basis.
What is a DPA? A down payment assistance program is one where a homebuyer can receive a gift amount between one percent and six percent of the final contract purchase price of a home. In addition, the seller of a home donates and equal amount to a non profit origination. There is also a processing fee for the transaction. A few months ago, there were a … (0 comments)
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real estate: What Recession? - 06/27/08 12:45 PM
DEFINATION OF RECESSION: Two or more consecutive quarters with negative growth in the economy. NEWS: The GDP (Gross Domestic Product) for the first quarter of 2008 was 1% GROWTH. This is after a .6% GROWTH in the last quarter of 2007. By these figures and the defination above, we are not in a recession. I point this out because the news media is generally full of doom and gloom and we have enough of that in the housing industry that we don't need any more. So, start spreading the news: We are not in a recession. Also, the inventory of existing … (0 comments)
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real estate: Mortgage Shopping - 06/27/08 12:16 PM
HERE'S THE INSIDE SCOOP ON HOW TO DO IT RIGHT!First: make sure you are working with an experienced, professional loan officer. The largest financial transaction of your life is far too important to place into the hands of someone who is not capable of advising you properly and troubleshooting the issues that may arise along the way. But how can you tell?Here are FOUR SIMPLE QUESTIONS YOUR LENDER ABSOLUTELY MUST BE ABLE TO ANSWER CORRECTLY. IF THEY DO NOT KNOW THE ANSWERS...RUN...DON'T WALK... RUN...TO A LENDER THAT DOES!1) What are mortgage interest rates based on? (The only correct answer is Mortgage … (1 comments)
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Fred Chamberlin - Oak Harbor/Whidbey's #1 Experienced FHA Mortgage Consultant
Oak Harbor,
WA
More about me…
Guild Mortgage Co - Oak Harbor WA
Address: 32785 State Route 20, Suite 5, oak Harbor, wa, 98277
Office Phone: (360) 675-6106
Cell Phone: (541) 221-3455
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