Real Estate Blog

pexels-photo-259597When a property is getting ready to go on the market. The listing agent will pull a preliminary title report with his or hers preferred escrow company. Once the prelim has been received, the title company and realtor can see any liens and judgments that is attached to the property. When the home is sold ,the buyers lender and escrow company must provide free and clear title to the new homeowner. The buyer will not be able to obtain financing for the property if there is a cloud on the title.

Here are the most common liens or judgments that can cloud title:

  • Property tax liens

When a home owner fails to pay their property taxes this lien will become in first position over the mortgage lien.

  • Federal and State taxes liens

When

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AGENT-CRATE-2The kitchen has always been the most important room in the home. A warm, inviting space which invites family and friends to gather and linger over great food and conversation is all about the styling and design. Lighting is a great way to add interest and ambiance to your kitchen areas. Here are the hottest trends in kitchen lighting in 2018.
LED Lights
The advantage of LED lighting is that they are incredibly flexible and can be used in a wide variety of fixtures and locations.
Natural Materials
As in other areas of design, natural elements are headed to the lighting section. Beautiful
woods, rope, burlap and other materials are now being used in lighting fixtures to add interest and warmth.
Groupings
Pendants lighting has been a kitchen staple for years, but

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Oregon was the top destination to move to in 2013. United Van Lines, the nation’s largest household moving company, released its 37th annual migration study to the Associated Press last month, which tracks the states that the company’s customers move to and from during the course of the year. Oregon has been the runner up for four straight years and has finally made it to the winner’s circle. According to the United Van Lines website, young professionals and retirees are drawn to the Pacific Northwest for its amenities such as public transportation, green space and the local arts and entertainment.

I would add that Portland’s affordability, at least by West Coast standards, and our beautiful summers and mild winters are also significant factors.

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2013 was a year of significant improvements for the Portland real estate market. The number of distressed sales, otherwise known as bank owned or short sales, has significantly dropped over the past year, resulting in fewer “underwater” homes being placed on the market. RMLS reported this month that distressed sales dropped from 28.6% to 15.1%.

Prices in 2013 were also significantly improved in the Portland Metro. RMLS reported a 12.8% increase in the median home price last year for the Portland area. Typically, as the market goes up, the number of distressed homes for sale goes down. This is good news for both sellers and buyers.

We at JMA are thrilled that the market is getting so much healthier. This improvement allows for buyer to search for

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The city of Portland has enjoyed a long list of kudos and awards for the many things that make this city a great place to live. Today we won another award, though the merits of this particular award may be controversial. We are ranked #1 among the Best US Cities For People 35 and Under.

This ranking was achieved variously by being in the Top 5 for such raucous categories as Most Coffee Shops Per Capita, Most Vintage Clothing Shops Per Capita, Cheapest Pack Of Cigarettes, and Cheapest Ounce Of High Quality Marijuana. Of which the latter two categories are most likely due to our lack of sales tax which makes us one of the cheapest places to buy almost anything in the United States.

http://www.vocativ.com/11-2013/livability/

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Since 2010, I have been selling manufactured homes along with real estate "stick built" homes.  In the beginning, I had many pre-conceived notions about manufactured homes, mostly ill conceived as it turns out.  I had the usual beliefs that the homes are not well built, that they are "plastic palaces", and that they do not appreciate in value as time goes on, making them a poor investment.  Those beliefs were challenged as I became involved in these homes.  I learned that they are well built, that they in many cases are just as gorgeous as any "stick built" home, and are in fact built to very strict building standards.

 

Since 1976, manufactured homes have been regulated to be built to HUD standards of building.  This means that they must meet all

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Cash is king or is it really? The majority of my buyers have been all cash lately. Do they really have the advantage over an offer that is financed?  Not necessarily. Many sellers have been more inclined to accept a higher offer that is financed over a lower offer that is all cash. Sellers now are deciding that it might be worth the risk in taking a higher financed offer because it comes to them all cash in the end anyways.. I know many cash buyers would tend to disagree with this, but I have found this to be true in many circumstances.

Buyers that are pre-approved with a lender prior to writing an offer have already gone through the hoops of what the under writers are needing to get final bank approval. Meaning they are already well qualified and

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Home sales in December were a percent lower than November, but still 13% higher than last December. Home sales were up 9% during 2012, the highest annual sales volume since 2007.

Prices increased 4.4% as the inventory of homes for sale continues to lag behind the increase in sales volume. New listings were 5.2% lower than last year while closed sales were up 19.1%. Total market time (average days on market) fell 21.5%.

Economics 101 at work, low supply and high demand equals higher prices. This trend is forecasted to continue in the short term until the supply increases to satisfy demand.

The National Association of Realtors has identified several reasons why the inventory remains low:

1. Many homeowners are underwater. According to CoreLogic,

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Rick Bean has been named a 2013 Five Star Real Estate Agent. He received the same award in 2012. This award recognizes a level of excellence achieved by fewer than 7 percent of the real estate agents in the local market.

The Five Star Professional award program is the largest and most widely published award program in North America. Award candidates are measured using an objective, in-depth research methodology that focuses on customer satisfaction and a thorough regulatory review.

 

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Have you noticed the increase in new construction starts? It's certainly a good sign. Increasingly, my clients are wanting to compare resale homes with new homes.  It was not even six months ago that I was showing buyers new homes and there was good inventory of completed homes.  With the increased demand , be prepared  look at a model home and choose a location that is in the framing stage. You could have a 4 month or longer wait to move in to your new home.   Wendy Culverwell wrote in the Business Journal:   New home sales account for about eight percent of the market, compared to five percent at the market low. New construction had claimed 16 percent of the market share in the mid-1980s and as much as 12 percent as recently as 2003, according to…
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