financing: Short Sales - Pro's and Con's - 02/17/09 06:42 AM
In recent months I have experienced a wide range of response from sellers regarding "short sales".  One end of the spectrum does not know what a short sale is while the other end knows a great deal about the process yet does not fully understand the process and what happens behind the scenes of a short sale.  Today, I would like to discuss some of the key factors to be aware of during the short sale process. 
What is a "Short Sale"?
A short sale occurs when the seller of a home owes more on the home than the current market … (0 comments)

financing: No Money? How About Your First Born… - 12/04/08 05:20 AM
I have to admit, I understand how some mortgage brokers could have become caught up in providing creative financing to many innocent buyers with no money and little ability to make monthly mortgage payments.  After all, I suspect that many lenders trusted the fact that these buyers understood that they would be paying more on their mortgage payment than their current rent payment.  I am certainly not justifying the lenders that are now being called "predatory lenders" I am simply stating that I can see how it can happen.
What I don't understand is the new generation of so-called predators under … (2 comments)

financing: HOPE for Homeowners - 10/16/08 07:52 AM
As part of the Federal Governments efforts to assist homeowners who are potentially facing foreclosure a refinancing program has been created called HOPE.  This FHA program allows homeowners having difficulty paying their existing mortgages to refinance into FHA secured mortgages that they can afford.  For borrowers who refinance using this program, lenders will be required to "write down" the size of their mortgage to a maximum of 90% of the homes new appraised value. 
Only owner occupants with no second homes are eligible for this program.  Additionally, the following criteria must be met:
Their mortgage must have originated on or before … (0 comments)

financing: Fact or Fiction? - 10/10/08 04:06 AM
There are many Real Estate myths, common misnomers and unknown facts circulating about Real Estate.  Some of these concepts go as far as contradicting themselves.  How does an intelligent consumer sift through all that they are fed to get the real scoop?  Many first time buyers are overwhelmed by the number of "knowledgeable" friends and family members who want to help them to make good decisions.  Unfortunately, many times Aunt Ida's advice is contrary to Brother John's advice which is the complete opposite of co-worker Sally's advice. 
Some of the concepts I would like feedback, questions and comments on are:
•·         … (3 comments)

financing: No More Loans! - 10/09/08 09:11 AM
Sometimes I wonder where the media comes up with its content.  In case the general population is not anxious enough about our countries state of affairs we have people running around saying "the sky is falling, the sky is falling!" 
The reality is: there are plenty of loans available.  Yes, you do need to have a job in order to get a loan and chances are you are going to have to put some money down in order to purchase the home.  FHA (First Time Home Buyer or anyone who has not owned a home in the past 3 years) is … (1 comments)

financing: Bank Owned vs. Private Party - 10/09/08 05:37 AM
I have to wonder where the belief began that the only great deal in Real Estate is a bank owned property.  Granted, the bank does not want homes sitting on their books endlessly, however, they are not so desperate that they are going to sell it for pennies on the dollar.  I often find that typically one of the first questions a new buyer will ask me is: "do you have any bank owned properties?"  Do you know how I answer?  "Why is that important to you?"
Interestingly, as I drive around previewing homes and showing clients I am seeing much … (7 comments)

financing: Making a Million! - 10/08/08 04:53 AM
What a month!  Lehman Brothers, Merrill Lynch, Fannie Mae, Freddie Mac, AIG... 
Now on to some better news...  Did you know that more millionaires were made during the great depression than any other era in U.S. history?  Although many of us consider the Great Depression a bleak time in our history it was actually a pivotal turning point for our country both economically and innovatively. 
Here is a little history lesson:  The Great Depression actually began several years before the 1929 stock market crash and lasted until World War II brought the country out of it.  In the years prior to … (2 comments)

financing: $7500 Tax Credit - 10/08/08 04:50 AM
As we approach the beginning of the school year I am amazed at how quickly the summer has passed. I looked down at my calendar today and realized that I only have 2 weeks to purchase school supplies, clothes and back-packs. I have yet to figure out where the summer has gone and despite high hopes for a summertime market recovery, activity continues to be slow.
The good news is that the federal government is making efforts to resurge the Real Estate market by passing legislation that would benefit first time home buyers. The federal government considers a "first time buyer" … (4 comments)

 
Angela Pernisco (Knipe Realty NW)

Angela Pernisco

West Linn, OR

More about me…

Knipe Realty NW

Address: 7420 SW Bridgeport Road, Ste 210, Portland, OR, 97224

Mobile: (503) 807-2146

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