State of the Mortgage Union - 01/29/09 10:32 AM
This is written by my good friend and mortgage broker James AdairMortgage Manager at Mortgage Trust Inc.www.pdxhomeloan.com
(1/27/2009) As we plunge deeper into this economic darkness, the US government sponsored residential mortgage industry is becoming one of the rare places a regular family can go to seek some BENEFITS. The government has committed to purchasing mortgage backed securities (Fannie mae and Freddie Mac mortgage bonds, also referred to as MBS) for the next 6 months, in an effort to keep mortgage rates low and stimulate both purchase and refinance business. As that 30 year fixed rate hovers around 5% and below, … (0 comments)

National homes sales up - where is Portland? - 01/26/09 11:44 AM
I read a great article in CNN this morning that shows the national home market is starting a rebound. Nationally homes sales are up with buyers taking advantage of low prices, low interest rates and in some cases tax credits. Read the Article here.
Portland numbers look something like this:Last January we had 1,908 new listings and 479 closed sales in Multnomah CountyThis January we'll have 1,373 new listings and 250 closed sales in Multnomah County
These numbers indicate that prices will feel presure to go down until the number of closed sales starts to increase. But like we're seeing nationally, … (0 comments)

Rare Retail Building on MLK, Great Investment! - 01/23/09 02:20 PM
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Old PdX home - Commercial, - 01/23/09 02:09 PM
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Rare Cape Cod, Ready for Urban Garden! - 01/23/09 12:20 PM
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Under 200 with 3 bedrooms. Move in ready! - 01/22/09 03:20 PM
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2008 Year in Review - 01/19/09 12:32 PM
So much happened in 2008 it's hard to keep track. So here is my re-cap of 2008.
1. Interest rates drop but so do loan options: Interest rates at the begining of 2008 were above 6% and now we're generally at or under 5% - that's great news and it saves you money. At the height of the market there were literally thousands of loan programs and now there are fewer options. Most loans are 30 year fixed but you can still get FHA loans which have a down payment requirement of 3.5%. There are also new tax credit programs for … (0 comments)

How to know where we're going - 01/13/09 01:22 PM
I talk a lot about inventory when I share info about the market. Inventory gives you a great snapshot of the market at any given point in time to know whether it favors sellers or buyers.
Right now what everyone wants to know is not where are we, but where are we going....
There are two ways to get an idea of Where We Are Going.
#1: If you look at the last 6 months of sales and a given area has 10 homes selling every month on average but you have 20 pending you know the inventory will be getting … (0 comments)

Predictions for 2009 - 01/05/09 08:06 PM
They say that only a fool makes predictions - especially about the future! So, in total disregard to that wisdom here I go with my top five predictions for Real Estate in 2009. Locally I will be watch inventory and transaction volume trends and will be sharing updates on www.sellpdx.com.
1. The U.S. Government will ramp up involvement in loans and add tax credit incentives to encourage more people to buy real estate and speed up the economic recovery.
2. Inventory in the US will remain at its current 10-11 month levels for all of 2009 except in areas that are … (0 comments)