Easier Foreclosure Prevention - 01/26/10 06:51 PM
Most people have heard that the foreclosure prevention programs have not been as successful as Obama had hoped.  It seems that one of the road blocks has been borrowers with a second mortgage. 
Apparently there has not been an agreement with the second lien holders which causes the first mortgage to be modified even lower to hit the 31% of pre-tax income mark. 
Clearly banks are not eager to modify loan payments at a loss when the second mortgage holder still gets a full payment.  This is also not helping the home owners because how small can a payment get when … (1 comments)

Rising Interest Rates - 01/19/10 06:12 PM
If you are in the market for a home with the intention to get a loan under 5%, you'd better move!  The first full week of January Freddie Mac's average 30-year fixed mortgage closed at 5.09%.  And once these go up they are not coming back down any time soon. 
Because of the bad economy the government had some programs going to get interest rates down.  Those programs are coming to an end and interest rates will head back up. 
Rates should also rise as the economy improves.  As people start to borrow money again the rates will increase.  There should … (1 comments)

Portland Oregon December Market Report - 01/14/10 06:45 PM
December Residential Highlights
 
Sales activity in the Portland metro area showed marked improvement this December compared to the same month a year ago. Closed sales were up 52.6% compared to December 2008 and pending sales rose 40.9%. New listings also rose 11.9%. On the other hand, compared to November 2009, closed sales fell 16.1% (1,506 v. 1,795). Pending sales dropped 14.1% (1,141 v. 1,328). New listings fell 15.8% (2,104 v. 2,499). At the month’s rate of sales, it would take approximately 7.7 months to sell the 11,597 active residential listings.
 
2009 Summary
 
Comparing activity from 2009 with that … (0 comments)

Portland Oregon in the New York Times! - 01/04/10 06:33 PM
Here is a great article from the New York Times about all the great things about visiting or living in Portland, Oregon.  Not only did the author seem to capture the vibe of the city but he visited so many wonderful spots that represent this city so well.  He really hit the perfect variety and did not just stick to one section of the Portland area.  Especially when it comes to our amazing food scene. 

http://travel.nytimes.com/2009/05/10/travel/10Portland.html?pagewanted=1
PLEASE CHECK OUT OUR WEBSITE http//:www.TonyandLibby.com & OUR NEW PORTLAND METRO BLOG AT http//:www.TonyandLibby.blogspot.com & pdxrealtynews.com (make sure you leave comments)
… (2 comments)

 
Tony and Libby Kelly, CRS, ABR, ePro, SRES, CLHMS, CDPE (Keller Williams Realty Portland Premiere) Rainmaker_large

Tony and Libby Kelly, CRS, ABR, ePro, SRES, CLHMS, CDPE

Lake Oswego, OR

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Keller Williams Realty Portland Premiere

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In this forum we will offer discussions on a wide variety of subjects, but focus on Portland Metro and real estate. Hopefully our insights and experiences will inform, educate, challenge and entertain our readers week after week.


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