Upcoming Events | Corvallis Culinary Week

Great Food at Good Prices: Corvallis Culinary Week

Corvallis Cullinary Week should once again, prove to be an excellent opportunity to get out, sample some local restaurants and enjoy some really great food. The 2012 event is held January 22nd to January 28th. The week is geared toward offering the Chef’s specialty dinners at only $10.00 per person. Meals will be paired with local (Benton County) wines (cost of wine is not included in the meal prices).

The family and I attended a few of the offerings last year and were rewarded with some excellent meals at great prices. We will be sure to check in again. More information can be found at the Visit Corvallis web site: Corvallis Culinary Week 2012. Hope to see you there!

Corvallis Home For Sale: 4818 NW Bruno Place, Corvallis, Oregon 97330 $367,500

For Sale: 4818 NW Bruno Place, Corvallis, Oregon

This beautiful home is nestled on a quiet (double) cul-de-sac in the desirable Walnut Park neighborhood. Head to Martin Luther King Jr. Park (formerly Walnut Park) on the neighborhood trail. This home is also close to schools, community parks and nature trails, and is just minutes from Oregon State University (OSU) and downtown Corvallis.

The floor plan is versatile and designed for comfortable living and has inspiring spaces for entertaining, relaxing and fun. 3 or 4 bedrooms, 2.5 baths, bonus space, two main living areas, a beautiful kitchen and 3 season room. Approximately 2500 square feet.

Entry:Vaulted ceiling Access to living room, family room and upper level Hall closet is hidden behind a built-in bookcase for a delightfully, efficient use of space.

Living Room: Open to entry with arched doorway, dining room, and kitchen. Ideal flexible room for TV, den, or other needs. Great space for entertaining or as a place to put your feet up and relax a bit.

Dining Room: Access to the living room, kitchen, and outdoor screened porch. Beautiful hardwood floor.

Family Room: Open to kitchen and entry with ceiling fan, wood burning fireplace with brick surround, bay window with window seat.

Kitchen: Spacious and bright with beautiful hardwood floors and open floor plan to dining room, living room, and family room. Access to 2-car attached garage, powder bath, laundry area and backyard. Oak cabinetry with ample pantry storage throughout and breakfast bar between kitchen and dining room. Large center island with Granite counter-top and pantry storage. Appliances include cooktop with 4 burners plus a grill/griddle, convection wall oven, side-by-side refrigerator, dishwasher, and built-in microwave. Double sink and planning station overlook backyard.

Upper Level Master Suite: Double door entry and ceiling fan. Spacious walk-in closet with ample storage. Large window seat plus you’ll feel like you’re in the lap of luxury with the attached master bath

Master Bath: Peaceful and serene overlooking the backyard features a spa-like large jetted tub, seperate shower, double vanities with storage, separate toilet room with linen storage.

Upper Level Bedrooms: One bedroom has a built-in desk and shelves, one bedroom has a niche for a reading nook or desk and access to additional under eave storage closet, great for seasonal storage items. The 4th bedroom (no closet) has built-in storage shelves and is also ideal as a library, home office, craft room, play room or a variety of other uses to suit your needs.

Upper Level Main Bath: Shower/tub combo Large vanity with tile counter-top and tile flooring

Third Floor: This finished space provides additional bonus and storage.

Outdoor Screened Porch: Located just off dining room and kitchen, making it an ideal space for entertaining and maximizes living space 3 seasons of the year. The ultimate way to extend your time enjoying the outdoors.

Backyard: Large with easy-care landscaping including an irrigation system, it’s fenced and level, providing a great place to play, garden, or entertain. Wide side yard and double gate provides enough room for a small RV or boat.

Garage: Large 2-car attached garage with plenty of storage space.

MLS#648252

If you’d like to see this property in person: Contact Dava

Investment Property Exchange Pit-Falls

Don’t make these mistakes: Common errors that create problems with 1031 exchanges.

Most real estate investors know that one of the very best tools for delaying capital gains taxes is to utilize a tax provision called a 1031 exchange. The 1031 comes from the section of IRS Tax code that is applicable and the “exchange” part comes from the process by which the investor trades-up into the next property without incurring immediate tax consequences (in other words the income and capital gains tax consequences are deferred to a later date).

The rules are stringent and must followed exactly for the exchange to work. Best intentions are not acceptable to the IRS and your state tax board.

I recently learned that 1o31 Exchanges are identified by the California Francise Tax Board as one of the top audit topics and the four top issues (as provided by IPX1031) are:

“1. Failure to make a proper identification or comply with other technical requirements of Section 1031;

2. That the relinquished and/or replacement property are not held for a qualifying purpose (held for investment or productive use in a trade or business). For example, the property is used for personal purposes or it is held primarily for sale;

3. The taxpayer who sells the relinquished property is different from the taxpayer who acquires the replacement property; and

4. The taxpayer receives non qualifying property in the exchange (boot), but fails to report it on their tax return.”

I understand that only relates to audits conducted by the State of California, but the issues that are found in California will not be that much different than those found in Oregon. Taxing authorities are looking for areas to make up for lost revenue. You don’t want it to be the mistakes you make in your real estate purchase or sale.

It also emphasizes the importance of having a 1031 exchange facilitated by a Qualified Intermediary that knows and complies with the requirements contained in the 1031 statute and regulations.

If you are interested in finding out more about investing in real estate, 10310 Exchanges, buying or selling real estate in Corvallis, Philomath, Albany or Lebanon, I’d be happy to help! Contact Dava

New Price! 830 NW 11th Street, Corvallis, Oregon 97330

Home for Sale, 830 NW 11th Street, Corvallis, Oregon 97330 $299,000

Home for sale in Corvallis, Oregon. Near Oregon State University (OSU) and Downtown Corvallis. Wonderful Craftsman style home with many vintage features preserved. 6 bedrooms (2 on the main level); 2 full baths (one on the main); approx. 2188 sq. ft. not including partially finished basement.

6 Bedrooms
2 baths
Approx. 2188 sq. ft. (not including basement)
Full basement
Bedrooms all have generous amounts of closet space (an unusual feature for homes of this era)
Fir flooring except kitchen and bath (carpet over fir in some areas)
Kitchen remodel in 1950s incorporated the back porch into the kitchen, 1993 remodel used former laundry as kitchen desk (may be able to re-install laundry facility if desired); created breakfast nook; kitchen island is move-able; commercial grade flooring in kitchen
Plumbing replaced in 2010
Gas force air heating system
Roof (including gutter system) replaced 2010
Electrical updates (various over time)
Many vintage details preserved including shelf units, mouldings and other wood trims
Easy care yard is landscaped with mostly perennials, shrubs and trees, no grass to mow.
Raspberries; two cherry trees; fig tree; herbs
Lot size .15 acres
Single car carport
County reports year built as 1910 owner believes 1917-1920
2010-2011 taxes $3,343
Approx. 1.5 miles from OSU Memorial Union and less than 1 from downtown Corvallis
American Shield Home Warranty included
MLS #643337

31364 Peterson Road, Philomath, Oregon | New price $1,110,000

HOME and LAND FOR SALE — 31364 Peterson Road, Philomath, Oregon Reduced Price

Stunning 360 degree views on over 47 private acres. Serene setting, situated well off the road, on gentle south facing slopes. Setting takes advantage of natural light and maximizes views. Exciting design by award-winning architect. Great room floor plan and flexible design allows the home to flow; providing opportunities for entertaining on many levels or restful solitude. Delightful, professionally landscaped gardens. Eco-friendly ground source, geothermal radiant heat system (A/C upstairs); Large shop with office spaces and half bath. Approximately 6 miles to Philomath and less than 10 miles to Oregon State University and Corvallis. 3 bedrooms, 2.5 baths, approx. 4071 sq. ft. on 47.17 acres.

Your own personal get-away. Architecturally designed for artists, this contemporary home is situated on over 47 acres in the heart of the Willamette Valley’s Pinot Noir region. It’s an ideal setting for an artist retreat, hobby farm, or vineyard. Peaceful and serene with beautiful panoramic views of the coastal and cascade mountain ranges including Mt. Hood, Mt. Jefferson and surrounding vineyards and farms. Private, yet convenient to both Philomath and Corvallis.

Elegant and modern covered breezeway welcomes you home. Arched and lit it provides access from 3-car detached garage to house. Upon entering the home you’re greeted by a bright and open sitting area with west facing views and access to dining area and back patio. Dining area has 17’ vaulted ceilings and is open to kitchen, living room, sitting area, and family room/sunroom. Family room/sunroom is bright and cozy with large windows that maximize light and panoramic views and a built-in bookcase with plant display. Family room also has access to dining area and back patio that is great for outdoor parties and backyard barbecues.

Great-room style living room is open to the kitchen and dining area and is bright and spacious with lots of windows and 17’ vaulted ceilings. Get cozy with Yodel wood stove with one-of-a-kind figured stainless steel floor-to-ceiling surround. Living room also has access to covered wood storage and front yard. A wonderful open floor plan for easy entertaining. Kitchen has vaulted ceilings with skylight, granite counter-tops with built-in cutting board, additional prep sink, and breakfast bar, top of the line stainless steel appliances: Subzero refrigerator, Dacor wall oven and range, Bosch dishwasher, ample cabinet storage and counter space. Kitchen is open to living room and dining area and has access to the powder bath, office, and mudroom.

Powder bath is unique and artistic with corner vanity with granite counter-top and under cabinet storage, built-in bookshelf, and galvanized steel wainscoting. Office area has built-ins which include a desk, bookshelves, and file cabinet, trimmed with exotic Purple Heart wood. Mudroom area is accessable from the covered breezeway. Main level bedroom/studio is open and light with French double doors off entry and French double doors with access to the courtyard, and high ceilings with two skylights. Main level bedroom/media room has access to back patio and large built-in entertainment center with 51” screen TV. Full bath has large shower with glass block surround and granite counter-tops.

Private upper level master retreat encompasses entire second floor and is a serene in-home get-away. Spacious and bright with vaulted ceilings and large windows, the master suite has a sitting area takes advantage of views, in addition to the energy efficient ground source geothermal heat system throughout, the upper level is also served by geothermal ducted air conditioning, access to large upper level deck with sweeping panoramic views, spacious linen closet, attached master bath, walk-in closet, and access to laundry room. Attached master bath has separate water closet with built-in storage and magazine rack, dual headed shower with glass block surround, soaking tub, vanity with granite counter-tops, and access to laundry room. Laundry room is conveniently located between master bath and walk-in closet with built-in shelves and clothes folding counter. Walk-in closet is spacious and light with skylight with lots of built-in closet organizers and hanging bars and is accessible through the laundry room and main master suite area.

Garden and outdoor areas include approximately 2 acres deer fenced gardens, wonderful paver courtyard with pond, grape arbor, established flower and ornamental gardens, back patio with south facing views and pond, and upper level deck with panoramic views. Out buildings include a shop and barn with pastures. Shop is a steel building on concrete slab with approximately 3000 interior sq. ft., approximately 5200 total covered sq. ft., 400 amp electrical, 3 finished interior rooms, and half bath. Barn is a steel building with earthen floor with approximately 800 sq. ft. and water and electrical. 17 gently sloping pastures are fenced and cross fenced with lanes and electrical fencing and water piped to all pastures. Potential as hobby farm, vineyard or horse property.

MLS#641074
Search for more homes for sale in Corvallis here.

Halloween Events in Corvallis, Oregon 2011

Halloween In Corvalalis

Corvallis events for Halloween in 2011 brought to you by Corvallis Tourism (click on the link for the list)

Included venues:
Magestic Theater
Whiteside
OSU (Ballroom Dance Club Event–but there are many other events as well)
and other OSU Halloween events
Downtown Trick or Treat

Plus you might be interested in the Arts Center’s Event for Day of the Dead

Corvallis High School | In the News

Just a quick bit about Corvallis High School and great SAT test scores–what an achivement. Just another reason to love living in Corvallis, Oregon.

Link to KEZI news report

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.

What is Escrow?

My clients that are buying and selling homes in the Corvallis and Albany areas frequently, ask ”What is escrow?

In general, “escrow” is the neutral third party that holds instruments (deeds or other documents that convey ownership); funds (or other items of value); or evidence of title for real or personal property. In Oregon, the escrow agent is typcially a Title Insurance Company (but this does not always have to be the case).

In a real estate transaction, “escrow” is the neutral third party that holds the deeds, collects and disburses the funds and follows instructions on behalf of the parties to the transaction.

It is the function of escrow in a real estate purchase transaction to make sure that all the instructions (which are really the terms of the sales agreement and the lend, er instructions) are followed; that all bills are paid (through the instruction of the buyer, the seller or the lender) and that funds are disbursed (lender loan proceeds, seller’s proceeds and any excess monies deposited by the buyer to the buyer).

Escrow follows the instructions of the parties to the transaction to determine how proration of taxes and other re-occuring charges such as homeowner association fees are handled. Escrow also makes sure that appropriate parties such as taxing authorities, homeowners associations, water districts and so forth are notified when there is a change of ownership. Escrow does not typically notifiy public utilites of changes of ownership. An owner that is selling should notify their hazard/homeowners insurance of the sale (but not until the sale is completed and the sellers proceeds are disbursed.)

Escrow is also responsible by law for the collecting of information and reporting of sales information to the state and federal government in the event of a possible income tax liability on the part of the seller of real estate. It’s important that sellers and buyers understand the tax ramifications of their transactions prior to closing. Escrow will send out questionnaires to be completed early in the process to help alleviate problems that can arise from tax consequences of a sale (such as FIRPTA and State and Federal witholding requirements), if for some reason you do not receive paperwork from the escrow company early in your transaction, you will want to check on it.

Escrow is not allowed to act independently. In general, once a buyer’s earnest money deposit is “in escrow” escrow cannot release those funds without express instructions from all parties. Escrow is not allowed to proceed with finalizing or cancelling a transaction without instructions from all parties. If there is a dispute that arises from disagreements from any of the parties to the transaction, escrow must wait for instructions between the parties that are consistent before they act upon them.

It’s important the that escrow agent: be finanacially responsible (and have financial strength); have expertise in handing complex transactions; act in a manner to assure that payment of liens and other encumbrances is accomplished; provide single point of contact for coordination of flow of documents and funds; remains an impartial third party.

If you need more information or have specific questions I can answer, please get in touch. Contact Dava

SOLD! HOME FOR SALE– 1185 NW Country Hills Drive, Corvallis, Oregon

SOLD!

HOME FOR SALE–1185 NW Country Hills Drive, Corvallis, Oregon

Spacious single level home in private 1.1 acre woodland setting. Located in the Country Hills Estates subdivsion with easy access to downtown Corvallis and NW Corvallis. Living areas are incredibly large and open with plenty of space to entertain or relax. Formal dining room features charming french doors to separate kitchen and family room. Bonus area off dining room and living room creates a wonderful reading or office area. Kitchen has new granite counter-tops, sink and faucet. Huge master features a wall of closets, attached bath and a bonus room that works well for many uses. Very large garage provides plenty of space for cars and storage. 3 Bedrooms, 2 baths and approx. 2724 sq. ft.