Dear Friends,

June is national home ownership month and the start of summer! Enjoy your home, communities and where ever your travels take you this summer! We all have the opportunity to be Ambassadors each day, where we live and everywhere we visit!

My best, Suzanne

REAL ESTATE TALK! 

The backside of the Law School at the U of O campus . What makes it extra special is that an Osprey has made its nest above the center. The University had a contest to name the two hatch lings and named them, Ruth Bader Ginsbird and Sandra Day O’Spry.

You can watch the nest via this donated webcam and link below. The University campus is a delight to meander through. Beautiful old architecture and newer improvements all melded together. Full of life and learning!

Osprey nesting site U of O

OUTDOOR REMODELING ROI VS JOY RESIDENTIAL AND COMMERCIAL

Home and commercial property owners looking to take on a remodel should consider undertaking an outdoor project, according to the National Association of Realtors®’and National Association of Landscape Professionals’ 2018 Remodeling Report: Outdoor Features.

The report, takes a deep dive into 13 outdoor residential projects and 10 commercial property projects, highlighting the reasons why property owners complete these projects, the value – both financial and emotional (joy score) – that these remodels bring, and the increased happiness the finished projects bring homeowners.

“Realtors® understand that a home’s first impression is its curb appeal, so when it comes time to sell, a well-manicured yard can be just as important as any indoor remodel,” said NAR President Elizabeth Mendenhall, a sixth-generation Realtor® from Columbia, Missouri and CEO of RE/MAX Boone Realty. “Even homeowners with no immediate plans to sell can gain more enjoyment and satisfaction from their home by taking on a project to revive their outdoor spaces.”

When asked which outdoor projects produce the most substantial financial payouts at resale, Realtors® ranked standard lawn care service at the top, which recovers 267 percent of the project cost at resale. Next, Realtors® named landscape maintenance and tree care, both recovering 100 percent of the cost at resale, and installing an irrigation system, recouping 86 percent.

When it comes to the enjoyment (joy) homeowners gain from these projects, a fire feature and irrigation system tied for first, both receiving a perfect Joy Score of 10; Joy Scores range between 1 and 10 and higher figures indicate greater joy from the project. Eighty-three percent of homeowners who installed a fire feature said they have a greater desire to be home since completing the project, and 69 percent of homeowners who installed an irrigation system said they feel a major sense of accomplishment when they think of the project. The next most appealing projects were a new wood deck (Joy Score of 9.8), a water feature (9.8), statement landscaping (9.7) and an overall landscape upgrade (9.6).
“This report validates that landscaping is an investment worth making, offering the immediate benefits of increased enjoyment of your property, as well as desirable long-term value that holds if or when it comes time to sell,” says Missy Henriksen, vice president, public affairs, NALP. “From lawn and tree care to installing a new fire or water feature or landscape lighting, there’s no shortage of opportunities to enhance your landscape and to reap the benefits these upgrades provide.”

This year, the report also covered outdoor projects for commercial properties. The report found that 43 percent of Realtors® have suggested a commercial client improve the curb appeal of a property before listing it for sale. The most frequently recommended projects are standard lawn care (39 percent), completing a landscape management service (27 percent) and an overall landscape upgrade (26 percent).

“It is not just homeowners that need to think about curb appeal when it comes time to sell; a beautiful exterior is just as important for commercial property owners. In fact, 81 percent of Realtors® said they believe curb appeal is important in attracting a buyer,” said Mendenhall.

The National Association of Landscape Professionals is the trade association for the landscape industry, which employs nearly 1 million landscape, lawn care, irrigation and tree care professionals who create and maintain healthy green spaces for the benefit of society and the environment. Member companies specialize in lawn care, landscape design and installation, landscape maintenance, tree care, irrigation and water management and interior plant scaping.

Residential Outdoor improvements report
2018 Remodeling Impact: Outdoor Features

Top Outdoor Residential Features
1-10 rank of projects’ appeal vs value to buyers
(highest to lowest) same numbers with different letters indicates value ranking only..
B denotes rank of different projects’ with added value(V) to resale (highest to lowest) vs appeal or joy of enjoyment(A) in numerical order.

1 Standard Lawn Care Service (A)
1B. Landscape Maintenance(V)
2. Overall Landscape Upgrade (A+V)
3. Standard Lawn Care Service (A+V)
4 Tree Care(A)
4B. New Patio(V)
5. New Wood Deck (A+V)
6 New Patio (A)
6B. Tree Care (V)
7 Landscape Lighting (A+V)
8 Fire Feature (A)
8B. Statement Landscape (V)
9. Irrigation System Installation (A+V)
10. Outdoor Kitchen (A+V)
11. Fire Feature (A+V)
12. Water Features (A+V)
13. New Pool (A+V)

Top Commercial OUTDOOR Features
Rank of projects’ appeal to buyers (highest to lowest)
1-10 rank of projects’ with added value (V) to
resale and if the improvement provides appeal (A) only or joy of enjoyment, denoted with a B.

1. Standard Lawn Care (A+V)
2. Overall Landscape Upgrade (A+V)
3. Hardscaping Upgrade (A+V)
4. Landscape Management Services (A+V)
5. Outdoor Patio and Seating Area (A+V)
6. Landscape Lighting (A+V)
7A. Irrigation System Installation (A)
7B. Sustainable Landscape Feature (V)
8. Interiorscaping (A+V)
9. Irrigation System Installation (A+V)
10. Holiday Lighting and Décor (A+V)

reposted: The National Association of Realtors® is America’s largest trade association, representing 1.3 million members involved in all aspects of the residential and commercial real estate industries.

MORTGAGE QUESTIONS TO ASK AND KNOW

When you meet with a trusted mortgage lender, here are 10 questions you should ask to ensure you’re clear on what your options are when setting out to purchase a property.

1.What mortgage types do you offer?

Different mortgage lenders offer different types of mortgages. These loans can differ in the amount of mortgage offered, interest rates, length and payment type. Common mortgage types include the following:

  • Federal Housing Authority (FHA) mortgages
  • Veterans Affairs (VA) mortgages
  • Fixed-Rate Mortgages (FRMs)
  • Adjustable-Rate Mortgages (ARMs)
  • Interest-only mortgages
  • Reverse mortgages
  • Jumbo Loans
  • USDA Loans

2. What mortgage is the best fit for your situation?

Your mortgage lender should be able to answer this question once you’ve completed an application and the lender takes stock of your employment, income, assets, credit, debt, expenses, down payment and other information about your finances.

3. What are the full costs of my mortgage?

This will be available to you via a Good Faith Estimate, or GFE, which is a line-by-line estimate of mortgage costs. Use this as a shopping tool to compare rates and expenses from various lenders.
When you’re ready to close, a finalized document called a HUD-1 settlement statement will be given to you.

4. When will I get the HUD-1?

By law, you have the right to receive the HUD-1 a day before recording or settlement.

5. What documents do I need?

Proof of income and assets, personal identification and information about your credit history are the big three. It can be a lot of paperwork, so start now by getting your paperwork in order.

6. What are the qualifying guidelines for this loan?

Many mortgage lenders require borrowers to meet certain guidelines. For example, VA loans are only available to eligible veterans, while qualifying mortgages have their own list of restrictions. Your lender will be able to tell you which loans you qualify for.

7. What fees will be customary in my State regarding title and escrow agency or attorney fees involved in my loan?

8. How long will it take to process my loan application?

The answer depends on how quickly you supply the required documents, the mortgage lender’s workload and the demand for inspectors, appraisers and other professionals involved. In general, it can be a few weeks to a couple of months.

9. What can I do to avoid slowing down the process?

While your mortgage lender will have specific recommendations to ensure speediness, here are some general recommendations:

  • Fully complete all required documents.
  • Be readily available to answer any questions.
  • Be prepared to explain any past credit issues.
  • Go over your credit report for errors.
  • Do not take on any new debts, switch jobs or change careers during the process.

10. What are the chances my loan will get sold?

There’s no way to tell, but if it does happen, don’t panic-it’s normal.
If it happens, the old and new servicing companies must notify you in writing of any changes so you know who to pay and how to proceed.

reposted:Craig Donofrio for marketwatch he also covers home finance and all things real estate for realtor.com.

GENERATIONAL BUYERS 101

In recent years, baby boomers have been active in the housing market, coming in at a close second to millennial’s as the largest generation of home buyers, while home prices have remained high and inventory conditions tightened.

The National Association of Realtors®’ 2018 Profile of Home Buyer and Seller Generational Trends identified that baby boomers are now more likely to buy homes not just for themselves-but also for their aging parents and adult kids saddled with student debt.

As baby boomers continue to grow in the market, here is how they compare to other generations of buyers:

  • Second largest generation of buyers (after millennial’s): 32 percent
  • Most likely to buy a new home: 20 percent
  • Bought a single-family home: 81 percent
  • Most likely to move to another region: 18 percent
  • Obtained a conventional mortgage loan: 66 percent

FOR SALE

1740/50 Arthur St. Eugene
ASKING $ 199,000.00

Duplex! 2 bedroom 1 bath per side. New roof 6/18! Westmoreland Village! Affordable! Live in one side or, collect the rent! Solid rental history! Many amenities, managed onsite by the Hoa!

The annual Oregon Country Fair

July 13-15th ~ Veneta Oregon

This piece of Art is just a snip it of what you will see and experience at one of the most creative and whimsical, festivals around!

The following rates are based on 30 day locks with no discount points and credit scores of 740 or, better as of 6/28/2018

They are not come ons, they are the rates you will most likely get from a reputable lender, regardless of what is advertised. Certainly there are other specialized programs available, depending on the qualifications of the buyer.

SAME*UP*- OR -DOWN FROM LAST MONTH

30 year fixed conforming =
from last month- same*
4.750%
apr
4.79%
15 year fixed
conforming=
*same from last month
4.250%
apr 4.390%
30 year fixed
JUMBO= *same
4.625%
apr
4.636%
7/1 Jumbo Arm=
* same from last month
4.125%
apr 4.586%
Jumbo is over $424,100.00 in a mortgage amountThis number varies by county
30 Year Fixed
FHA-4.750-APR 4.812
* same
VA 4.500% APR 4.812%
*same

Prime rate is
currently@5.00%
Last YEAR 4.00%
THIS IS WHAT CHANGED FOR FIRST TIME SINCE 2006.
Credit cards,
bank to bank charges,
adjustable mortgages (ARMS) and helocs are tied to this rate.

30YrFixed conforming Non-Owner or INVESTMENT
Property
purchase with 25% down single family up 4 units
5.171%
apr 5.125% *same

 

Still great rates!

* best rate for investors

Rate vs. APR

The Annual Percentage Rate (APR) represents the true yearly cost of your loan, including any fees or costs in addition to the actual interest you pay to the lender. That’s why a mortgage APR is typically higher than the interest rate – and why it’s such an important number when comparing loan offers.

What is the best credit score to get a mortgage?

A 760 credit score or higher generally will qualify you for the best mortgage rates. However, you don’t need excellent credit to qualify for a mortgage. It’s difficult but possible to get a mortgage with a credit score under 620. Find out more about how your credit score affects your mortgage rate.

Commercial rates are equally as competitive for A+ buyers .

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