And I'm thrilled to be helping clients save tens of thousands of dollars on their mortgage interest. Does it get any better than this? I love my "job"! See you at the closing table! Karen Cooper - OR/CA Mortgage Consultant - www.Quality4Loans.com … (0 comments)
rogue valley: Investors May Finance Up To 12 Properties
- 12/03/08 07:16 AM
Here in Southern Oregon where we haven't experienced the same level of real estate market devastation as California, Florida, Nevada and Arizona there is still a silver lining to be found in our beautiful puffy cloud skies. With market values in Jackson County Oregon roughly 8% lower in our year over year statistics, we've also seen a steady contraction in the inventory of available homes for sale - also 8% lower year over year. As is customary when the general populace begins to think we are seeing some great values, there are buyers coming out of the wood work...450 of them, … (2 comments)
rogue valley: Ray of Hope Shining Through
- 11/21/08 06:31 AM
As seems to be the case in just about every situation, in the midst of the trials and tribulations we are experiencing in the housing market and economy in general there are gleams of light. Working to further hone some positive perspective skills, I bravely decided I'd wade through today's newspaper, filters to stop negative input firmly in place. Skipping over anything that appeared to be unsubstantiated "hype" and "doom", I moseyed on over to the topics that interest me, like the many outstanding community efforts my fellow Southern Oregonians are making. Community efforts like the Rotary Club of Ashland Oregon's … (2 comments)
rogue valley: Plan B for Rogue Valley Sellers – Do A Lease With Option To Purchase? (Part 5 of 5)
- 11/18/08 08:37 AM
Have you come across a potential buyer for your home that for one reason or another isn't able to qualify to purchase your home at this time? Maybe they have experienced a severe financial crisis, like a bankruptcy/medical devastation/job loss/foreclosure, making them unable to obtain the financing they need to purchase your home, even though they have recovered from the event that led to their credit crises. You don't need the equity from this home to purchase your next one, and you like the idea of having a tenant in the home committed to purchasing it down the road. Pros: You … (2 comments)
rogue valley: Plan B for Rogue Valley Sellers - Rent Out Your Current Residence In Order To Purchase Your New One? (Part 4 of 5)
- 11/18/08 08:11 AM
Maybe you don't need the equity from your present home in order to purchase the next one. In this case, I don't think Pros & Cons are needed, just a "congratulations - good for you"! There have been some underwriting guideline changes that you will need to know about if you are going to be financing the new purchase: Fannie Mae's most recent instruction to lenders on how to handle a borrower's income producing property, including a principal residence that will be rented out: "Verify the net rental income or loss with the borrower's most recent signed federal income tax return … (3 comments)
rogue valley: Plan B For Rogue Valley Sellers - Take Out A Bridge Loan To Access Your Equity? (Part 3 of 5)
- 11/18/08 06:56 AM
Have you heard of a bridge loan? This is a loan feature that is frequently found when homeowners are building a new home while living in their previous home which they will sell once the new home is complete. A homeowner purchasing a new residence plans to make a down payment with the proceeds from the sale of a currently owned home, but the currently owned home will not close escrow until after the close of the new residence. A bridge loan allows the buyer to take equity out of their current home and use it as down payment on the … (0 comments)
rogue valley: Plan B For Rogue Valley Sellers - Take out a Home Equity Line Of Credit Or Refinance Your Existing Loan(s) To Get Cash Out For Down Payment (Part 2 of 5)
- 11/18/08 06:49 AM
Did you purchase your home many years ago and you've been financially savvy, maybe you have a fantastic interest rate on the mortgage on your current home, refrained from refinancing to pull cash out, and you have a ton of equity in your home. You don't want to give up this great interest rate while you make your move, and now are weighing the options associated with pulling that equity out to purchase your new home by refinancing or taking out a home equity line of credit, while continuing to market your current home for sale. Pros: You do not need … (2 comments)
rogue valley: Southern Oregon Realtors - Do Your Buyers Need a Zero Down Home Loan?
- 11/14/08 05:11 AM
Southern Oregon Realtors working with residential home buyers, have your clients been considering a great financing tool? USDA Guaranteed Rural Housing is a program that has been underutilized, partly due to restrictive income guidelines that will likely change on January 20, 2009, barring any major objections received during the comment period that will expire January 5, 2009. The proposed income guidelines would mean up to 4 person households may qualify with gross annual income up to $70,750, and up to 8 person households with up to $93,400 based on the current Jackson County Oregon income limits. Here are some key features … (2 comments)
rogue valley: Rogue Valley Home Sellers, Are You Looking At Plan B To Sell/Buy Your Southern Oregon Home? (Part 1 of 5)
- 11/07/08 04:49 AM
What happens when you've decided to move up, taking advantage of the many buying opportunities you are seeing in today's real estate market? You see the home that is just perfect for you - larger/ smaller, newer/upgraded, your ideal neighborhood, closer to work, more/less property, the pool you've always wanted, decorated as though the interior designer was inside your head, a view to die for? You put your home on the market, but the buyers just aren't getting off the fence to buy your home. Your home is always presented in its best light for when its buyer walks through the … (0 comments)
rogue valley: 2009 Conforming Loan Limits Are Changing
- 11/07/08 04:37 AM
In order to help stimulate sluggishness in the high cost real estate markets, Fannie Mae and Freddie Mac had increased their loan limits for the second ½ of 2007 and for 2008 to $729,750. Based on declining values, they are adjusting these limits downward accordingly.
The new * Agency High Balance max conforming loan limit for the continental U.S. will be $625,500 for 2009
Here in Southern Oregon, this loan limit will cover most of our properties, as our medians are well below this limit. But, our neighbors to the South in the high-cost markets of California may still … (2 comments)
rogue valley: Have You Been To Kaleidoscope Pizzeria In Medford Oregon?
- 11/02/08 01:58 PM
There is an ecclectic not your typical pizzeria in town here in Medford Oregon. Have you been to Kaleidoscope Pizzeria? What a great choice for lunch or dinner, and conveniently located across from one of our busiest shopping areas on Crater Lake Blvd. Owned by a family transplanted from Alaska, they put a new spin on this pizzeria that just works. Voted as not only the best Pizza in the Medford Mail Tribune Readers' Choice awards, but as having Southern Oregon's favorite wait staff in Seth Haynes, if you haven't been to Kaleidoscope Pizzeria, you are missing a treat. For more information about … (8 comments)
rogue valley: Have You Been To Si Casa Flores Mexican Cuisine In Medford/Phoenix Oregon?
- 11/02/08 01:37 PM
A favorite choice of ours for Mexican food is Si Casa Flores. With three locations in Medford, and one at Exit 234 in Phoenix, they are one of the restaurants my family chooses to eat at the most. Consistently great food and service with a variety of menu choices - even choices for our youngest the gringo who finally has graduated from a hamburger to tacos - we stop in for dinner at Si Casa Flores a lot. A well deserved winner of the Medford Mail Tribune Readers' Choice Award for 6 years in a row, if you haven't been to Si … (0 comments)
rogue valley: Green Springs Inn Cabins Giving A Whole New Meaning to Sustainable
- 11/02/08 01:12 PM
Recently, we visited the Green Springs Inn outside of Ashland Oregon. The restaurant here has been a pit stop of ours since our early days of moving to the Rogue Valley in Southern Oregon. Diarmuid McGuire had contacted me here through Active Rain, having seen from my Blog that I have a love of nature and an appreciation of the incredible beauty to be found here in Jackson County Oregon and the surrounding areas. Diarmuid wanted to share the amazing project he and his son Paddy have been working on - building 15 cabins next to the Green Springs Inn just 10 miles … (2 comments)
rogue valley: Have You Been To Green Springs Inn Restaurant Outside of Ashland Oregon?
- 10/27/08 04:49 AM
Any Southern Oregonian who plays in the vicinity where the Siskiyou and Cascade Mountains join in Southwestern Oregon understands the incredible beauty to be seen in this federally protected area of Jackson County containing the Cascade-Siskiyou National Monument. Pacific Crest Trail hikers, horse back trail riders, snowmobilers, cross country skiers and snowshoers from all around come to this area to enjoy its natural beauty and easy accessibility.
At the junction of E. Hyatt Lake Road, which leads to the Cascade-Siskiyou National Monument, and Highway 66, about 10 miles South of Ashland Oregon you'll find the Green Springs Inn Restaurant … (4 comments)
rogue valley: A Glorious Sunday Drive On Route 66
- 10/27/08 04:33 AM
Did you know Route 66 winds its way right through Southern Oregon? It was such a wonderful Autumn Day, with temperatures in the high 70's. We were chomping at the bit to get out of the house and enjoy this day. What better destination to have than no destination at all? Having communicated earlier in the week with Diarmuid McGuire, owner of the Green Springs Inn located about 10 miles South of Ashland Oregon (the McGuires are back!), we thought we would start our meanderings in that direction, and head down Route 66 to see what Fall Foliage we might experience … (5 comments)
rogue valley: Is It Time For Your Senior Parents/Grandparents to Simplify Their Home Life?
- 10/20/08 05:57 AM
Do you have a parent or grandparent who is one of the 65,000+ Jackson County Oregon residents aged 50+? Population Growth for the Rogue Valley has averaged over 1.5% per year. One segment is the 50+ age group, a group which represents roughly 33% of the residents of Jackson County's estimated 199,295 residents in 2007.
With the phenomenal Quality of Life we have here in Southern Oregon, our net migration numbers are some of the highest in the State of Oregon. Many of the 50+ group migrating to the Rogue Valley are active residents still part of the workforce … (4 comments)
rogue valley: Snapshot of the Real Estate Market in Southern Oregon in September 2008
- 10/06/08 12:13 PM
With a market that is somewhat driven by what's happening with our neighbors to the South of us in California, we have definitely seen the numbers slowing here in the Rogue Valley. When a percentage of our buyers can't sell their property in California, it slows things down for us here in Jackson County and Josephine County Oregon.
But, guess what? It appears we may be reaching a turning point here. "Yeah, right!" you might be saying, based on all the doom and gloom reporting we are seeing in the news. Here's why I think this: Inventory is contracting … (4 comments)
Although my mortgage company has been in Southern Oregon since 2004, I've worked in mortgage lending since 1983, with an overlap for several years when I wore my real estate broker's hat (whole different topic, working "both ends of the stick", which I'll save for another article...or 10!), and 6 years "sabbatical" when I became an escrow officer so I could better grasp … (6 comments)
rogue valley: Have You Heard of The Big Look, Oregonians?
- 09/18/08 03:45 PM
The Big Look Task Force has taken on the huge task of taking a look at Oregon's Statewide Land Use Planning System, a system that came to be in 1973 when it was established by the Oregon Legislature. Future growth expectancy for areas throughout Oregon call for the population to more than double, with the Rogue Valley, Central Oregon and Portland Metro areas seeing the majority of this growth. Having relocated to Southern Oregon from Santa Clarita, California in 2004, an area which in my humble opinion could have used more attention to its land use system, I understand how important … (2 comments)
rogue valley: Have You Been To Standing Stone Brewing Company in Ashland Oregon?
- 09/12/08 03:39 PM
In the heart of downtown Ashland, Standing Stone Brewery is another favorite stop of ours for lunch, dinner, snacks and, of course, a hand made ale. You will even find some of our delicious Southern Oregon wines on the menu, by the bottle and by the glass, and a full bar, too. You will also find this award winning restaurant has a heart, having "greened" everything they can at their restaurant - and winning a State Sustainability Award in 2007 for their efforts.
Just across the street from one of my favorite Ashland Realtors, we frequently stop here for lunch … (0 comments)
Loving the challenge of a career in mortgage|real estate since 1983, keeping up with the progression of changes in this industry keeps one on their toes. What doesn't kill us makes us stronger, right? Here's to a few more decades of strength building!
Here in Southern Oregon, we've had a stream of foggy days of late. The gloom kind of suited my mood, though. But T.G.I.F.!
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