Spring Open House Tour- Saturday Line-up
Coldwell Banker Valley Brokers proudly presents this year’s Spring Open House Tour. Here’ a list of properties participating in this weekend’s Spring Open House Tour:
Saturday, May 1st from 11:00 am-1:00 pm
OPEN HOUSE4015 NW Elmwood Drive, Corvallis, Oregon
Contemporary styling is beautiful, warm and inviting. They say the kitchen is the heart of the home and this gourmet kitchen proves it with space for all. Tons of storage, specialty cabinets and plenty of counter-tops. Designed for fun, formal and informal living areas provide the spaces you need. Upper level suite with second full kitchen is perfect for long term guests or any large gathering. Sumptuous master suite provides a quiet respite. Outdoors find extensive decking, sport court and private yard space. 5 bedrooms, 4 baths, approximately 5,144 sq. ft.
OPEN HOUSE3344 NW Fillmore Avenue, Corvallis, Oregon
Located in a popular neighborhood near Oregon State University. Beautiful light and extensive hardwood flooring greet you as you enter this single level home. Warm and comfortable living room features dining alcove, updated wood windows, pellet stove insert and solar tube skylight. Spacious kitchen has ample storage and counter space. 2 bedrooms/1 bath on main plus finished full basement that provides additional living space. Detached 3 car garage (3rd bay has side access). Awesome yard gets plenty of light, perfect for the gardener in you. 3 bedrooms, 2 baths, approximately 2197 sq. ft., .18 acres
OPEN HOUSE1840 NW Juniper Place, Corvallis, Oregon
Sophisticated and charming multi-level home with elevator service. Flexible floor plan allows for 2 master suites and creates potential for dual living. Living room, dining room, built-in hide-away office, family room, sitting room, oversized two car garage and shop/craft area. 3 bedrooms, 2.5 baths, approximately 3333 sq. ft.
1090 Linnwood Dr. NE, Albany, Oregon
2920 Collingwood St. SE, Albany, Oregon
3111 27th Ave. SE, Albany, Oregon
5240 Falcon St. SW, Albany, Oregon
34431 NE Wolcott St., Corvallis, Oregon
1370 NW Magnolia Dr., Corvallis, Oregon
2440 NW Hummingbird Dr., Corvallis, Oregon
2516 NW Acey Wy., Corvallis, Oregon
4590 NW Queens Ave., Albany, Oregon
3157 SE Everglade, Corvallis, Oregon
278 W Cedar Dr., Lebanon, Oregon
675 S 16th St., Lebanon, Oregon
2132 Mayfly St., Lebanon, Oregon
2216 Eagles Dr., Lebanon, Oregon
3336 Southwood Dr., Philomath, Oregon
Saturday, May 1st from 2:00 pm-4:00 pm
OPEN HOUSE4614 SW 47th Place, Corvallis, Oregon
Beautiful, light and open floor plan lives big! Newer 5 bedroom, 2.5 bath home is located on a quiet cul-de-sac and is private and secure. Convenient to local schools and parks including Starker Arts Park and recently renovated Sunset Park, Corvallis Country Club and Golf Course, Oregon State University campus, hiking and biking trails, and has easy access to Corvallis and Philomath. 5 Bedrooms, 2.5 Baths, approx. 2538 sq. ft.
OPEN HOUSE4015 NW Elmwood Drive, Corvallis, Oregon
Contemporary styling is beautiful, warm and inviting. They say the kitchen is the heart of the home and this gourmet kitchen proves it with space for all. Tons of storage, specialty cabinets and plenty of counter-tops. Designed for fun, formal and informal living areas provide the spaces you need. Upper level suite with second full kitchen is perfect for long term guests or any large gathering. Sumptuous master suite provides a quiet respite. Outdoors find extensive decking, sport court and private yard space. 5 bedrooms, 4 baths, approximately 5,144 sq. ft.
OPEN HOUSE1840 NW Juniper Place, Corvallis, Oregon
Sophisticated and charming multi-level home with elevator service. Flexible floor plan allows for 2 master suites and creates potential for dual living. Living room, dining room, built-in hide-away office, family room, sitting room, oversized two car garage and shop/craft area. 3 bedrooms, 2.5 baths, approximately 3333 sq. ft.
3201 Southwood Dr., Philomath, Oregon
245 NW Quarry Rd., Albany, Oregon
3206 Pine St. SE, Albany, Oregon
2765 NW Orchard Heights Dr., Albany, Oregon
3240 NW 54th Ave., Albany, Oregon
1520 Center St. SE, Albany, Oregon
2691 Mountain View Dr. SE, Albany, Oregon
3111 27th Ave. SE, Albany, Oregon
3131 South Shore Dr. SE, Albany, Oregon
863 SE Bethel Pl., Corvallis, Oregon
1173 NW Charlemagne, Corvallis, Oregon
1175 NW 32nd St., Corvallis, Oregon
2105 NW 17th St., Corvallis, Oregon
2455 NW 27th St., Corvallis, Oregon
2752 NW Garryanna, Corvallis, Oregon
3340 NW Firwood, Corvallis, Oregon
7753 NW Arboretum Rd., Corvallis, Oregon
926 Filbert St., Jefferson, Oregon
14705 Mitchell St. SE, Jefferson, Oregon
37691 Kgal Dr., Lebanon, Oregon
990 Robbins Wy., Lebanon, Oregon
5863 Wood Rd. NE, Albany, Oregon
Three Things to be Aware of When Shopping for a Home…
Here’s some basic advice from CBS MoneyWatch.com that will help buyers in the Corvallis, Albany, Philomath or other markets in the mid-Willamette Valley. Most buyers are starting their research process on the Internet, and there’s a ton of data out there. Not all of it accurate, so it takes some time and experience to filter out the good from the bad. I think this is great advice. What do you think?
Don’t Miss Out | Existing Homeowners may qualify too!
Don’t Miss Out!
Some existing homeowners who purchase a replacement personal residence may qualify for a tax credit as well. Here’s a link to a guide that can help you determine if you qualify or not. Timing is crucial and of course, check with your tax advisor for complete details. This eligibility test works for either existing homeowners or first time homebuyers.
Tax credit timing: You must be in a contract by 4/30/2010 and close by 6/30/2010 to qualify. We are not anticipating this credit to be extended. The industry leaders that worked so hard to accomplish getting this credit passed, have publicly stated that they will not be asking for more.
If you’re interested in buying, time is running out; you need to get into the market sooner rather than later. I specialize in residential real estate in Corvallis, Albany, Philomath, Lebanon and surrounding areas of the mid-Willamette Valley in Oregon. I’d be happy to help you work your way through the process.
Check to see if you qualify for a home buyer tax credit (first time or current homeowner)
Note: Test provided by Alishia Jones, Mortgage Loan Officer, Bank of America, Corvallis, Oregon.
Important Items To Look For In A Home Inspection
Important Items to Look for In a Home Inspection
For Buyers and Sellers
Home inspections can vary from simple one page check lists to extensive multi-page documents. When evaluating written reports and/or selecting an inspector based on the report produced, there are several
important factors to consider:
- What is the scope of the inspection; what systems, fixtures, and components are inspected? Does the report include general information to improve the reader’s overall knowledge about the property in addition to reporting problems? How much of the property is inspected? Is there a systematic approach to the inspection? Knowing what is included in the inspection report is key to knowing if the inspection is thorough. Obtaining information about the status of all components (those in good condition as well as those needing attention) provides you with a benchmark of condition for ongoing maintenance.
- Is the report easy to read? Is the layout straightforward and is redundancy avoided? Is there a summary that supports the details? Are the items numbered and in categories that are easy to follow? A report that’s easy to read and identifies items by category and/or room as well as numbers makes communication with others regarding the findings easier.
- How detailed is the report? Does it include photographs of the findings? A picture paints a thousand words. Photographs make it easier to understand items included in the report.
- Is an electronic version of the report provided? Frequently the report needs to be distributed to others in order to work through negotiations and contractor evaluations. A report that’s easy to forward on to others streamlines those processes.
- How quickly will the report be provided? Often times there are tight time lines associated with negotiation of inspection related items. Prompt delivery of the inspection is an essential element of the inspection process.
- Does the report “package” include items of added value? Some inspectors provide coupons, home
maintenance checklists and simple home repair guides as added value to their reports. - Is the inspector available to answer questions after the fact? Being able to communicate with the inspector about the specifics of the report and clarification of findings helps simplify the corrective action process.
Recent Changes In Laws That Affect Oregon Real Estate
Recent Changes In Laws That Affect Oregon Real Estate
There have been a number of recent changes to Oregon laws that affect real estate transactions and real estate in general. The following are a few highlights of those changes. What’s important to know is that when it comes to your transaction, I take care of making sure you know what to do.
Residential Rental Smoking Policies and Rental Agreements HB 2135): Requires a rental agreement for a dwelling unit regulated under ORS chapter 90 to include disclosure of the smoking policy for the premises on which the dwelling unit is located. Must state whether smoking is prohibited, allowed on the entire premises or allowed in limited areas. Owner occupied mobile homes and house boats are exempt from the rental agreement requirement. Effective 1/1/2010.
Read the bill: http://www.leg.state.or.us/09reg/measpdf/hb2100.dir/hb2135.en.pdf
Disclosure of 100-Year Floodplain to Tenant (HB 2614): The law requires a landlord of a dwelling located in a 100-year flood plain to notify a tenant that the dwelling is in the flood plain. Allows the tenant who did not receive notification and then later experiences a loss to recover from the landlord the lesser of the actual loss or two months rent. Effective 1/1/2010
Read the bill: http://www.leg.state.or.us/09reg/measpdf/hb2600.dir/hb2614.en.pdf
Landlord May not Charge Tenant More than Landlord is Charged for Utilities (HB 2613): Amends the residential Landlord Tenant Act. Prohibits a landlord from billing or collecting more money from tenants for utilities or services than the utility or service provider charges the landlord. Effective 06/17/2009
Read the bill: http://www.leg.state.or.us/09reg/measpdf/sb0700.dir/sb0772.en.pdf
Additional Well Testing for Arsenic (SB 739): Requires a seller of real estate that includes a well that supplies ground water for domestic purposes have the well tested for arsenic upon acceptance of an offer to purchase. This is in addition to tests for nitrates and coliform bacteria (already required). Test results must be submitted to both the Drinking Water Program of DHS and the buyer within 90 days of receipt of the results. Effective 1/1/2010
Read the bill: http://www.leg.state.or.us/09reg/measpdf/sb0700.dir/sb0739.en.pdf
Oregon Homeowner Facing Foreclosure (SB 628): Foreclosure notices must now include new information about how to meet with their lender and how to request a loan modification. If so requested, the lender must meet with the borrower and evaluate the borrower for a loan modification before foreclosing on the home. The meeting can be by phone and it must be with a person who has or can get authority to do the modification. Effective 06/30/2009.
Read the bill: http://www.leg.state.or.us/09reg/measpdf/sb0600.dir/sb0628.en.pdf
Tenants Living in Property Subject to Foreclosure Sale (SB 952): Includes provisions to: require that tenants in good standing receive advance notice of foreclosure proceedings with specific information regarding tenants’ rights; allow tenants with fixed-term leases to stay after the foreclosure sale for the earlier of 60 days or until the lease expires, except when the purchaser intends to live on the property in which case only 30 days’ notice is required; provide tenants with weekly or monthly agreements with notice of the intent to evict 30 days after the date of the foreclosure sale; allow tenants receiving notice of foreclosure to apply pre-paid security deposits toward ongoing rent obligations (and relieves purchase of any obligations to return security deposits); and clarify that purchasers do not become “landlords” unless they accept rent from the tenants, enter into a new rental agreement, or fail to terminate the tenancy as provided by this bill. Effective 8/23/2009
Read the bill: http://www.leg.state.or.us/09reg/measpdf/sb0900.dir/sb0952.en.pdf
Carbon Monoxide Detectors (HB 3450) Includes provision to: prohibit title transfer of single family dwelling or multifamily housing containing carbon monoxide source unless there are properly functioning carbon monoxide detectors at locations that provide carbon monoxide detection for all sleeping area; allow for civil action to recover damages, attorney fees and costs for violation; allow State Fire Marshall to adopt rules establishing standards for carbon monoxide detectors and requires adoption of rules for alarms in existing housing; require landlords in multi-family housing to maintain carbon monoxide detectors in units; prohibit tampering with installed detectors; and require all rental housing to have alarms in place by April 1, 2011. Pending rule making, Effective 6/25/2009.
Read the bill: http://www.leg.state.or.us/09reg/measpdf/hb3400.dir/hb3450.en.pdf
Transfers of Real Property Interests(HB 2481): The law prohibits conveyance of an agreement for transfer of real property that imposes fees or other consideration upon actual or purported future transfer of the property. Certain exceptions are allowed. Effective 06/17/2009
Read the bill: http://www.leg.state.or.us/09reg/measpdf/hb2400.dir/hb2481.en.pdf
Document Recording Fees (HB 2436): Adds a new $15 fee to the existing fees pertaining to deeds and mortgage records filed with county clerks (with same exclusions). The fee imposed by this measure will be collected by counties and deposited into specified accounts within the Housing and Community Services Department for affordable housing-related programs. Effective 09/28/2009
Read the bill: http://www.leg.state.or.us/09reg/measpdf/hb2400.dir/hb2436.en.pdf
How Would You Spend Your Tax Credit?
How Would You Spend Your Tax Credit?
COLDWELL BANKER REAL ESTATE STUDY FINDS CONSUMERS’ ANTICIPATED ‘SMART SPENDING’ OF HOMEBUYER TAX CREDIT WILL AID ECONOMIC RECOVERY
83 Percent of Current Homeowners Surveyed Say They Would Spend Tax Credit on Repaying Existing Debts, Home Improvements, Savings/Investments and Household Expenses
Coldwell Banker Real Estate LLC today announced the findings from a new survey that looked at how the recently expanded federal homebuyer tax credit, which opened up the credit to existing homeowners, might impact the economy. Of the more than 1,000 homeowners surveyed, 83 percent responded that if they were to purchase a home and qualify for the tax credit, they would engage in “smart spending” or put the money toward paying off existing debts, home improvements, savings/investments, or everyday household expenses. Only 6 percent of respondents indicated that they would spend the money on what are commonly referred to as luxury items such as a vacation or a shopping spree.
According to the survey, the top way homeowners would spend their $6,500 tax credit in a “smart” way would be to pay off debts (34 percent), followed closely by making home improvements (29 percent) and putting it into savings and investments (28 percent).
In addition, Coldwell Banker Real Estate found that 20 percent of homeowners indicated they were more likely to consider purchasing a home than they were six months ago, after learning about the $6,500 federal tax credit. The tax credit, which previously only was for first-time homebuyers, is now available to existing homeowners who sign a binding contract before April 30, 2010 and close on the purchase of a home before June 30, 2010. To learn more about the details of the expanded homebuyer tax credit, go to www.coldwellbanker.com
If you’re considering purchasing a home in Corvallis, Albany, Lebanon or Philomath (and surrounding areas of the mid-Willamette Valley); I’d like to help you meet your goals. I work with buyers and sellers at all price levels. Please get in touch and we can get started today.
Other resources for information about the tax credit:
National Association of Realtors frequently asked questions about the tax credit
I.R.S. information abut the tax credit
Philomath, Oregon | Absorption Rates through November 2009
Includes all single-family residential properties on less than two acres
as reported by WVMLS.
Data taken from WVMLS 12/9/2009
| Price Range | Active Listings as of 12/9/2009 | Sold Listings Last 6 Mos. | Average Sold Per Month | Months of Inventory | Av. Days on Market Solds |
| $0 – $99,999 | * | 1 | 0 | * | 55 |
| $100,000 – $149,999 | 4 | 9 | 2 | 3 | 181 |
| $150,000 – $199,999 | 10 | 7 | 1 | 9 | 118 |
| $200,000 – $249,999 | 9 | 8 | 1 | 7 | 198 |
| $250,000 – $299,999 | 6 | 3 | 1 | 12 | 301 |
| $300,000 – $349,999 | 3 | 2 | 0 | 9 | 77 |
| $350,000 – $399,999 | 3 | 2 | 0 | 9 | 143 |
| $400,000 – $449,999 | 1 | 2 | 0 | 3 | 93 |
| $450,000 – $499,999 | 1 | 1 | 0 | 6 | 153 |
| $500,000 – $599,999 | * | * | * | * | * |
| $600,000 – $699,999 | * | * | * | * | * |
| $700,000 + | 1 | 1 | 0 | 6 | 14 |
| 38 | 36 | 7 | 133 |
Expanded and Extended Tax Credit Information–From the Expert
Questions and Answers from the Expert about the Expanded and Extended Tax Credit
Sellers and Buyers in and around the Corvallis and Albany, Oregon real estate markets can benefit from a clear understanding of the opportunities the Expanded/Extended Home Buyer Tax Credit provides.
An excellent source for answers to questions you may have about the expanded and extended tax credit for First Time Home Buyers and Long Time Home Owners that are thinking of making a change can be found at the Q & A page for the I.R.S. The ultimate resource for information about taxes, tax credits and all other information that relates to the Expanded and Extended Tax Credit for buying a home.
It is possible to have parent (or other family members) assist in the purchase and still be eligible for credits.
If you are currently a homeowner and meet the other requirements, you do not have to sell your existing home (you could rent it out), but you do have to occupy the newly acquired home and meet all the other requirements.
You do not have to “buy up” or, in other words pay more for the new house.
Read the Questions and Answers about the tax credit for Home Buyers. This is truly a limited time opportunity.
I.R.S. Information about the Expanded and Extended Tax Credit
As always, seek the advice of a qualified tax advisor if you have questions about tax laws and how they pertain to personal circumstances.
Benton County Holiday Food Drive– Happening Now!
It’s that time of year again. The holidays are coming on fast and the Annual Benton County Holiday Food Drive is going on now. We need your help to make food boxes this year for low income families and individuals! This is your chance to spread some holiday cheer within your own community. Make someone’s holiday season special and feel good doing it. Donate today!
Drop Location:
Coldwell Banker Valley Brokers
1109 NW 9th Street, Corvallis
Dates:
November 14th-24th
Items Needed:
Canned and Boxed Foods (Non perishable food only please)
Cash and Check Donations (Makes checks payable to: Community Holiday Food Drive c/o Coldwell Banker Valley Brokers)
Philomath, Oregon | Absorption Rates through October 2009
Includes all single-family residential properties on less than two acres
as reported by WVMLS.
Data taken from WVMLS 11/10/2009
| Price Range | Active Listings as of 11/10/2009 | Sold Listings Last 6 Mos. | Average Sold Per Month | Months of Inventory | Av. Days on Market Solds |
| $0 – $99,999 | * | 1 | 0 | * | 55 |
| $100,000 – $149,999 | 4 | 8 | 1 | 3 | 177 |
| $150,000 – $199,999 | 9 | 5 | 1 | 11 | 122 |
| $200,000 – $249,999 | 9 | 8 | 1 | 7 | 198 |
| $250,000 – $299,999 | 5 | 3 | 1 | 10 | 301 |
| $300,000 – $349,999 | 3 | 2 | 0 | 9 | 117 |
| $350,000 – $399,999 | 3 | 2 | 0 | 9 | 143 |
| $400,000 – $449,999 | 2 | 1 | 0 | 12 | 106 |
| $450,000 – $499,999 | 1 | * | * | * | * |
| $500,000 – $599,999 | 1 | * | * | * | * |
| $600,000 – $699,999 | * | * | * | * | * |
| $700,000 + | 1 | 1 | 0 | 6 | 14 |
| 38 | 31 | 8 | 137 |
Equal Housing Opportunity. Each Office Is Independently Owned and Operated.