Archive for Buyers
Freddie Mac 30 Year Rate Histories
These charts of 30 year mortgage loan rate histories (Freddie Mac rates) were provided by a local lender and are used with permission. It is very interesting to see how low rate really are right now, especially in relation to the past.
If it makes sense for your life goals, the lower price of homes coupled with the low interest rates create a time of opportunity. But, only if it makes sense for your life goals as well. There is financing available for people that have good credit and verifiable income.
These charts were provided courtesy of:
Dolly Davis
Production Manager
Mortgage Consultant
PrimeLending, A PlainsCapital Company
1390 Liberty St S.E.
Salem, OR 97302
Phone: 503-362-0111
Mobile: 503-580-0029
Fax: 877-643-6101
www.dollydavis.com
4 Things that Can Undo Your Real Estate Loan Approval
Everyone knows that when you first apply for a home loan, your credit needs to be in good shape, but did you know that what you do during the processing of your loan can have an impact too?
Lenders look at:
- Credit balances and minimum payments
- Credit depth (the number of accounts, with or without balances and length of time that the accounts have been open)
- Inquiries in the past 120 days that could result in new credit
- Judgments or liens
The credit report that’s pulled when you first apply for a real estate loan is not the only one that gets pulled. That credit report needs to be updated after 90 days and it’s very likely that there will be a second credit check at underwriting (that’s a pretty close to closing) just to make sure that nothing has changed.
Changes that could result in the need to re-qualify for the loan, possibly creating a delay or even stop you from getting your loan:
- New Loans–don’t do it, don’t get any new credit while you are in the process of buying a home
- Increased balances on existing credit line–don’t do it, don’t use that credit line to pay for appraisals, inspections or anything else
- Inquiries by potential creditors–don’t do it, don’t shop for a new car, appliances, home improvement or furniture
- Derogatory items (reports of late payments etc.)–in this case, do it, pay it on time or early, pay the whole amount due.
Home For Sale | 1665 NW 11th Street, Corvallis, OR 97330
Comfortable living, close to everything Corvallis has to offer (Walkscore 85).
Spacious and open floor plan flows from living to dining to kitchen to family. Sunny breakfast nook off kitchen is a great “hang-out” spot and ideal place to soak up the sun. Two steps down (at the same level as the entry) is the family room, large laundry and full bath. Upper level provides 4 large bedrooms with fir flooring under carpet. Master with attached bath and large walk-in closet. Landscaped yard with wide driveway (RV parking). Easy access to 9th Street shopping, neighborhood schools, downtaown and Oregon State University. 4 Bedrooms, 3 baths, ±2391 sq. ft.
Now…this…is home… Comfortable living, close to everything, with a walk-score of 85. The sheltered front door leads to a wide and open entry. Just two steps up and you’re ready to nestle into the spacious yet cozy living room and bask in the warm glow of the gas fireplace. The flowing floor plan leads from the living room to the light and bright, formal dining area and then to the large kitchen. A wonderful space for entertaining and parties. Settle into the adjacent breakfast nook with the morning paper and your coffee or juice and savor the sunlight. Entry, kitchen and breakfast room enjoy warm wood flooring. Two steps down from the kitchen and at the same level as the entry, is the family room, a hub-of-fun, your ideal game, media, hobby or TV room which features built-in sewing cabinet and bookcases. Nearby you’ll find a full bath, with jetted tub and a large laundry/mud room with a door to the backyard. Upstairs are 4 very large bedrooms with fir flooring under carpet, including the master with attached bath with wide shower, Marmoleum® flooring and large, walk-in closet. The second bath includes double vanity, tub/shower combo and Marmoleum® flooring. Outdoors you’ll enjoy extended living many seasons of the year with the covered deck that’s accessible from both the dining room and breakfast nook; it’s the ideal outdoor dining and BBQ spot. Landscaped backyard is easy care with potential for raised bed gardening, rose bed and there’s a garden shed. The wide driveway can easily accommodate an RV, boat, big-wheels, four-square or chalk-art. This home is very close to local schools and you’ll enjoy the wide open expanse that comes with nearby Garfield Park and it’s also very close to Porter Park. Easy access to 9th Street businesses including Market of Choice, Trader Joes, restaurants and retail establishments. 4 Bedrooms, 3 baths, ±2391 sq. ft.
MLS# 650004
For more information or a personal showing, contact Dava
Corvallis Home For Sale | 4364 NW Jon Place, Corvallis, Oregon 97330
Want a great home in Corvallis? Looking for RV Parking or an RV garage? This home is Open, airy and light.
All the space you need and then some… With a floor plan that features good separation of living spaces on a variety of levels. And, it has a MAIN LEVEL MASTER. Vaulted living room is spacious and features a gas fireplace. Enjoy family gatherings and entertain friends in the spacious kitchen that has generous amounts of counter and cabinet space and an island cook-top, casual in-kitchen dining and formal dining adjacent. There is plenty of space and a possibility for dual living. Lower level features a large family room and a gas stove and a very large 4th bedroom and a full bath. The fenced yard has extensive decks and patio areas. Plus a gazebo area that would be the perfect place to set your hot tub or convert to covered picnic area. There’s RV Parking and a bonus space off garage that provides that coveted space for working out, crafting, other hobbies or additional storage. 4 bedrooms, 3 baths, 2663± sf.
MLS# 649474
Home for Sale | 1990 Salmon Run SW, Albany, OR 97321
Custom quality home for Sale in the Spring Meadow Subdivision
This is the only one like it in the Spring Meadow subdivision of Albany, Oregon. Custom quality home in impeccable condition, features a hardwood entry, vaulted ceilings, main level master, beautiful stainless and cherry kitchen with island and specialty cabinet features. The living room has a gas fireplace. Master features double vanity, separate shower and soaking tub. Comfortable all year long with gas forced air heat and central air conditioning, electric powered Sunsetter awning. Landscaped with sprinklers, concrete walk-way entire perimeter of house and a fenced backyard with wide side-yard. Oversize 2-car garage. 3 bedrooms, 2.5 baths, ±2186 sq. ft.
Not another like it. This home is the only one of this floor plan in the Spring Meadow subdivision. 3 bedrooms, 2.5 baths, great room style living/dining area, breakfast nook and laundry room.
- Dramatic entry with Brazilian Cherry flooring and soaring vaulted ceilings.
- Large living area with gas fireplace features vaulted ceiling and space that flows to kitchen and dining
- Kitchen has
- center island
- cherry cabinets with specialty cabinets features like pull out drawers and lazy-Susan
- stainless steel appliances
- Main level master is large enough to accommodate large furniture pieces and features a walk-in closet
- The attached bath has:
- double vanities
- a separate shower
- garden tub
- Upstairs find:
- large additional bedrooms
- a full bath
- and an alcove at the top of the stairs that can accommodate your computer, reading nook or display cabinets
- Outside delight in the landscaped yard with:
- easy care with walk-ways that circle the whole house
- a fenced backyard
- large side yard and generous amounts of patio space.
- Create your own shade with the electric awning patio cover
- Extra wide side yard is ideal for extra patio space, possible hot tub area, container gardening small RV
- Comfortable all year long with gas forced air heat and central air conditioning
- Oversize 2-car garage
- Corner lot provides additional privacy to this beautiful yard
- Great location near LBCC and major corridors makes your work, play and shopping commute a breeze
MLS# 649394
For more information or a personal tour contact Dava
Related Links:
Search for Albany Homes
City of Albany Web Site
Albany Oregon Chamber of Commerce
Albany, Oregon School District
American Dream Survey–Fall 2011 (Trulia)
According to a recent survey by Trulia1 the American Dream of homeownership is alive and well.
One interesting fact to me is that the number one concern of potential home buyers is the ability to save up a sufficient amount for a down payment.
I find this a bit ironic given the political trend to create an environment of even higher downpayments. As recently as this spring, regulatory agencies were working on rule making that would further increase the downpayment requirments. This was covered by The National Association of REALTORS® (NAR) in REALTORS® Oppose High Down Payment Requirement for Qualified Residential Mortgage Exemption .
The survey also covers the age demographics and ideal home sizes and locations. Interesting information. It’s worth a look.
1 Trulia is a major site that provides information about real estate and homes for sale and rent
A New Resource for First Time Homebuyers
A New Resource for First Time Homebuyers
Coldwell Banker Corporation has just added a new resource for First Time Homebuyers to its web site ColdwellBanker.com. The First-Time Home Buyer Resource Center includes videos, articles and tools to answer questions and guide new home buyers through the real estate search process. If you’re thinking about buying a home for the first time in Corvallis, Albany, Philomath or for that matter, anywhere in Oregon or the U.S., this site would be worth a visit.
If you want to ask questions or need help buying your first home, Contact Dava.
The Real Estate Market in America | Today’s Perspective
Here’s today’s perspective on the real estate market from Greg Rand, OwnAmerica Founder
Greg is a regular contributor in print and on cable news and has a broad base knowledge on housing and the mortgage market. He is one of the experts that was at the Coldwell Banker GenBlue Conference in Las Vegas (March 2011.) I’m taking his class and can’t wait to see what develops. I’ve read his book Crash Boom! , was very impressed and think that what he has to say has value.
Loads of Extras and a Great New Price — 3201 Southwood Drive, Philomath
With loads of extras and a great new price this Philomath property (3201 Southwood Drive) stands head a shoulders above the rest.
In addition to being very close to Corvallis (really a very short under 5 mile commute), great shopping, quick access to local employment areas including OSU and easy access to main transportation corridors leading to the coast, highway 99 and Interstate-5), this beautiful, well planned home has many features not typically found in most homes. A few of the highlights follow:
View from 3201 Southwood Drive
Whether you are thinking about a “move-up” to something larger (with potential for additional living areas), looking for single level living (finished living space 3 bedrooms/2 baths/kitchen/dining/living room and garage are located on the main level), shop space (daylight basement is huge with high ceilings and extra electrical), potential for dual living (finish the basement) or have other needs, this home should be one you consider.
View details, additional photos, virtual tour and video tours regarding this property 3201 Southwood, Philomath.
Coldwell Banker Valley Brokers–First Annual Winter Twilight Tour
Please join us for our first annual Winter Twilight Tour.
The agents of Coldwell Banker Valley Brokers will be hosting a festive winter themed Twilight Open House Tour this Sunday, December 19th, 2010 from 3:00-6:00 pm. I have 3 homes open this weekend and have staged them specifically for this event, a fun and creative challenge.
My listings that are open are:
5168 Springhill Drive NW, in North Albany–hosted by Dava Behrens
1730 Grandview Drive NW, in North Albany–hosted by Matt Gerst
4915 NW Lavender Circle, in Corvallis–hosted by Ana Norlander
All are beautiful properties and offer different amenities and price ranges.
Twilight Tour all open homes
Equal Housing Opportunity. Each Office Is Independently Owned and Operated.