We all know that it is a buyer’s market, just about everywhere in Central Oregon inventory is high, prices are low and now is the time to buy!  River Meadows in no exception!  Finding a great deal in today’s market seems to be the objective of almost every buyer, and who could blame them?  There are great deals to be found!

55782 Lost Rider Loop is located in River Meadows. This home is located just a short distance from the Big Deschutes River.  River Meadows does have paved paths for bikes and walking or running.  The path does follow the Big Deschutes River.

55782 Lost Rider Loop is a 3 bedroom 2 bath home that also features a bonus room.  It is currently priced at $144 a square foot – which when compared to the average of $196 (as of today) a square foot.  The price per square foot is a great way to see the motivation of the seller, but keep in mind this  home has slab granite kitchen counter tops, hardwood, well maintained, has front and back decking, and backs up to a nice green belt.

Check out this slideshow of the property, then call your agent or me to see the property!

 

Central Oregon is known for it's beauty and versatility.  You can obtain just about any type of property you want in Central Oregon (no ocean view though).  One of the most popular property searches is for riverfront property in Central Oregon. 

Most of the River Front Homes for sale in Central Oregon are on The Big Deschutes or Little Deschutes Rivers.  There is a great community on The Big Deschutes River called Wild River.  The name comes from the section of the river these homes are located.  Pringle Falls has the appearance of a fast rapid and makes the river wild in the area.

This home on Wild River Way is currently being offered at $239,900 and I personally believe it is one of the best deals in Central Oregon.  For more information please contact me.

 

Today I sent out a twit that reminded others to ask for the referral.  I, like a lot of us forget to do this time and time again.  I have been trying to remember the simple things that build our business and things that are low cost.  You can not get much lower cost than asking a buyer for a referral!  They are already hooked on you, they know you, they trust you and they are EXCITED!

So, after posting this reminder - @JakePlanton asked how I ask for referrals.  I love it when people ask me how to do something and love it even more when someone helps me with a method, question or just good old assistance... so this one is for you Jake.

It really does not matter what part of the Real Estate business you are involved with you have opportunities to ask for a referral without being pushy or feeling awkward.

  • When you start working with a client - and you connect - simply give them a small stack of business cards and say, "Working with you is going to be a lot of fun, here is a couple extra cards, because as we go through this process you are going to be excited and talking to friends and family.  As you do, you may find they have been thinking about buying (or selling) also, give them my card so I can help them."
  • As the transaction winds down, and you send your thank you card, closing gift or what ever you do again send them extra cards and say "Working with you has been great, I will be in touch from time to time to see how things are going, remember I am here for you and YOUR family and friends feel free to give them my card."
  • I call a couple days after the closing to see how the move went and say.  "It is so exciting setting up your new home.  I was just updating your contact information in my data base, changing your address to your new one... while I am completing your information I thought I would double check with you, is there anyone YOU would like me to contact to help them buy or sell in our area?"

Now I know these are pretty soft sells but they work for me. 

I then add my buyers to a recipe club where every other month they receive a card with a great recipe on it asking for a referral - I pay once and it is good for a 2 or 3 year program.  Some of my clients have called to tell me how great the recipe was, and just yesterday one buyer posted on FaceBook how much she loved a cheesecake recipe and it because a fairly long thread where she was making it for friends... and then she sent me a private email inviting me to meet her friends that are looking to buy on "Cheese Cake Night."

Asking for the referral is as easy or hard as you make it... but asking when you are working with someone is simple you already have the connection... so just jump in with both feet and do it!

 

Today one of my local competitors / friends showed up on Twitter I saw that there were 3 tweets promoting his website and realized he had created 3 Twitter accounts.  Ok, a few people think and find ways to use more than one account. 

One of his accounts used a community name and then the word REALTOR® - this is a violation of the Trademark many of us pay each year for.  I know a lot of us have made the mistake or might even still be making the mistake but NAR does find these violations and they do shut the account down.

Anyway the REALTOR® I tried to help by telling him he might want to find another user name did not take kindly to my words of advice.  He is positive he is not in violation...

If you are going to use REALTOR® - you can say Thesa Chambers REALTOR® (or your name) but you can not say Oregon REALTOR® (or your state)

To make this a little easier NAR has published a quick guide to using the term REALTOR® on the internet.

Some of the recent violations I have seen include

REMAX REALTOR®

C21 REALTOR®

Town Name REALTOR®

State REALTOR®

If you are using REALTOR® in this manner you may want to think twice about putting a lot of time, effort and sometimes money into something that may be taken away from you.  I am not telling you this to make things difficult, in fact I would hate to see all your hard work go down the drain and for you to be starting over.

 

Remember - to always check with a WELL KNOWN lender and your AGENT

Via George Souto (McCue Mortgage) FHA, CHFA, VA Mortgages CT.:

Yesterday I wrote a blog on the new policy that was just announced by HUD for the $8,000 Tax Credit, in their latest Mortgagee Letter "MORTGAGEE LETTER 2009-1.  In it I advised everyone to read it for themselves and become familiar with it.  What I did not do in my blog yesterday was to further advise everyone to caution their clients about the SCAMS that will most likely emerge as a result of this latest change.

We have seen SCAMS pop up for everything prior to this, and I have no doubt that new SCAMS will pop up with creative ways to take advantage of those who do not follow sound advice, and would rather listen to those who will tell them what they want to hear instead.

  • We have seen SCAMS devised to take advantage of those who are trying to refinance out of high interest loans. 
  • We have seen SCAMS devised to take advantage of those who have fallen behind on their mortgages and are being promised loan programs that they can't possibly qualify for.
  • We have seen SCAMS devised to take advantage of those who are trying to Modify their present mortgage.

So why would we not expect the Con Artist to come up with ways to make money off of this latest change to the $8,000 Tax Credit that is prime for the picking.

Make sure that your Buyers/Borrowers are dealing with reputable Lenders and Banks when it comes to this.  They need to stay away from Internet Lenders that no one has heard of.

It is likely that very few Lenders and Banks will participate in this program, because most are not set up for doing Bridge Loans, which this will be a form of.  I have not heard of anyone that has even considered participating in making these advances on the $8,000 Tax Credit available.

So as they use to say on the TV program Hill Street Blues "Lets Be Careful Out There"

 

******************************************************************************************************************

Info about the author:

George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com

 

Jeff is a well respected FHA expert - this is important information for all buyers - and so it is my honor to have the ability to post his information on my blog

Via Jeff Belonger -- The FHA Expert.com -- FHA Loans -- FHA mortgages - USDA loans (Infinity Home Mortgage Company, Inc):

 

 

Good Faith Estimates  - Extremely important message below!!!

 


If you are a consumer looking to purchase or refinance, this is a must read. It could cost you thousands if you don't pay attention. This is not a threat, but a warning from someone that has over 16 years of experience in the mortgage industry.

When shopping for a mortgage, even if shopping with more than 2 lenders, you want to get a good faith estimate from everyone that you speak to.

 

 

Red Flag about good faith estimates

So, here is my pet peeve.  This is a major red flag -  if you speak to a loan officer, on the phone or in person, and they didn't offer you a good faith estimate, don't walk, Run!!!

The Good Faith Estimate is an over abused term and can be misleading. If the loan officer qualifies you for a mortgage, no matter if its a FHA loan or a conventional loan, you should receive one in a few hours. In reality, if the loan officer qualifies you and tells you a rate, a payment, and your total costs, they should be able to give you that good faith estimate in a matter of minutes. Think about it, they had to do this already in order to give you those figures.  There is no excuse. Sure, things happen, but just being busy is not good enough. Unless they specifically tell you that they will give it to you the next day. This can happen, but other than that, if they dont communicate this with you, no excuse. And this could be indicative to how your loan process will go.

Let me ask you this. If you are shopping for a car, don't you want to see your payment, interest rate, and total costs?  I know I would. If you have to keep asking for a good faith estimate and it's been 3 days, major red flag.

 

Overall, it doesn't matter if you are applying for a FHA loan, a conventional loan, or any other type of mortgage.  If you have to beg for a good faith estimate, you are just asking for trouble in most cases.

 

 

 

 

THE GOOD FAITH ESTIMATE

 

Good faith estimates

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

So, what is a good faith estimate? Its an estimate of all your costs associated with buying or refinancing your home. But here is the catch. There are some costs that are known costs and not just estimates. These would be the lenders fees. The lender fees are all fees that are under lines 801 to 823. I enlarged this section below for you.

 

good faith estimate section

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three things that you want to look for when you first look at your GFE.

  • Look at the loan program and make sure this is the program that you want. If it was an adjustable, it would say differently.  This would fall under the term of the loan.
  • Look at the mortgage rate. Make sure this is what you discussed when speaking to your loan officer. (Up top, middle of page, yellow highlight)
  • The 3rd issue are the fees. As I mentioned above, everything in section 801 to 823 would be the lenders fees or anything the lender is going to charge you. (left hand column with highlighted items) Don't ever be fooled if one lenders fee is higher than the other. You still need to compare the mortgage rate.

(Speak to your tax accountant to make sure what can be written off and what cant. But typically just the points can be written off)

 

 

What not to do when comparing good faith estimates.

  • Don't compare total fees at bottom of the GFE, which I will explain why below.

 

 

 

 

Conclusion:  Again, don't always shop and ask for total fees. Compare the lenders fees the most. In regards to your escrows, each state is different. I highlighted this in red. Your property taxes are paid either quarterly, twice a year, or once a year. I have seen some loan officers sometimes not show enough for your escrows in regards to the property taxes.  Its very easy for a loan officer to say at closing, ˜these aren't my fees, so all I can do is give an estimate.  Word of advice, yes, its an estimate. But I have seen some loan officers estimate less to make the overall cost look cheaper. And just be careful, because some of these figures are not worth the paper that they are written on. It's just that, an estimate based on good faith. Make sure that you always speak with a Mortgage Professional.  And don't shop yourself right out of the market.

 

One other thing, if you have 3 good faith estimates in front of you, always go back to the person that you had the best feeling with, that you are comfortable the most with, and share the other 2 with them. Just don't run to the person with the best rate and or fees. I always like my clients to come back to me no matter what. I might be able to point something out to them. And this next topic must be discussed when receiving a GFE, otherwise this Good Faith doesn't mean squat.  Locking or floating my mortgage rate !!!!

 

Lastly... if you are going to shop rate & costs, ALWAYS shop on the same day !!!  Rates change daily...

 

 

 

UPDATE :  The laws in some states are different, when a good faith estimate must be given. In Paul McFadden's example, comment #15, they have 3 days from the day they pull credit. According to RESPA, the lender has 3 days from the time of application. When just casually shopping, there is no time period or law.

In regards to my example, with the rate and points, this is just an example. Besides, not all rates or good faith estimates come with points. And I don't charge fees. But there is a cost of doing business with any lender or bank out there.

 

 

 

follow Jeff Belonger on Twitter

 

 

- FHA Loans - USDA Loans - VA Loans -

- Energy Efficient Mortgages - 

- Conventional Loans - 203 k loans -

- Mortgages -

 

Experience & Knowledge at its BEST !!!

 

_________________________________________________________________________________________

For more information on FHA loans, please go to this link. The FHA Expert

For more information about the 2009 Tax Credit for First Time Homebuyers : 2009 Tax Credit

For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags !!!!

Copyright © 2009 by Jeff Belonger

 

We are finally seeing some nice daytime temperatures and with the warm weather comes the threats fo fire.  Packing an evacuation kit prior to an emergency is a great way to reduce your stress level at the time of evacuation. 

There are many items you may need that when under stress you may not think to take.  Placing these items in the same safe location may make it much easier and less time consuming should you need to evacuate.

Be sure you are prepared for Central Oregon fire season.

photo by  Sam Beebe / Ecotrust

 

Central Oregon is a great place to be from and a great place to live.  When you live in Central Oregon and travel everyone is jealous of your home area.  Central Oregon is one of the most visited places in Oregon because there is so much to do. NO matter what your favorite outdoor activity it can most likely be found in Central Oregon.

Full List of Bank Owned Homes in Bend, Three Rivers South & La Pine Oregon!

Because we have such great recreational areas we also had a huge boom in real estate.  Now we are seeing some of these past buyers in trouble and with that we have bank owned homes.

 

 

 

 

 
  
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Central Oregon Real Estate | Broker Thesa Chambers, Licensed in Oregon

La Pine, OR

More about me…

RE/MAX Sunset Realty La Pine

Address: PO Box 3510, La Pine, OR, 97739

Office Phone: (541) 536-0117 x 115

Cell Phone: (541) 771-7064

Email Me

Your Information Source for La Pine, Sunriver, Three Rivers South property information links to search the entire MLS. More than just listings this site will provide information on the market and so much more. Go Ahead and Click You Will Be Glad You Did!


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