We have all heard the phrase “The only constant in life… is Change!”  This certainly seems to be true of today’s real estate market.  I have spent the last four years serving my clients as a broker of John L Scott Real Estate.  While this has been a great experience, I have made the decision to move my team to Keller Williams Realty.

I am constantly looking for ways to stay on the cutting edge of the market so I can provide Top Notch service and I am excited about the opportunities ahead!  Keller Williams has the environment and the tools that will enable me to stay on that cutting edge, and provide even better service to all of my clients; keeping you in touch with what is really going on in this crazy market.

As a broker in the heart of the Sunset Corridor I work with buyers and sellers in all three counties, Multnomah, Washington and Clackamas, as well as the outer lying areas.  While today’s market might not be for everyone, it certainly has opportunity for many.  History has proven that wealth is always created in a down market. If you, or someone you know, fall into one of these 3 catagories:

FIRST TIME BUYER   -   MOVE UP BUYER    -   INVESTOR

There is, without a doubt, plenty of opportunity for you!

 My team and I have adopted a new motto which is at the core of our business – EXPERIENCE MOVING FORWARDTM.  We are looking ahead, not back, and with great optimism!  There ARE opportunities out there, there IS money available for financing (despite what the media portrays), and we WILL be here to help those who choose to move forward.

I have enjoyed being a resource to all of my clients these past 4 years, and hope you have enjoyed the information I provide.  Some of the new services are:

Home Buyer’s Scouting Report – making it easier to search for very specific property (call/email to sign up)

SOLD report – keeping you informed of what is selling in your specific neighborhood (call/email to sign up)

This Blog – ExperienceMovingForwardPortland.com  (weigh in on the issues!)

Referrals are the lifeblood of our business.  We are looking for business so please call if you know of anyone even thinking about buying or selling.  We will treat them with the utmost respect, because having your support is of paramount importance to us!

Warmly,

Christy

NEW EMAIL:

christy@christytrotter.net

SAME PHONE:

503-504-0083

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So much speculation, and seemingly so few answers.  Many people ask me whether I think we are at or near the bottom of the market.  This is a fair question because let’s face it, no one wants to pay more for a property than they have to.  Conversely, sellers are worried that their properties will continue to decline in value.  Ken Lewis, CEO of Bank of America, now the largest mortgage lender in the country and referred to as the Walmart of Banking, was quoted on October 20th in an interview with 60 Minutes saying that he feels, based on the economic indicators, that the bottom will be sometime before the end of the 1st half of 2009.   What does this mean for people looking to invest in real estate?  NOW is the time to buy!  It is no coincidence that investors like Warren Buffet are buying up property as we speak.  Wealth is always created in a “down” market.  The smart investor will buy when the majority are selling, and sell when the majority are buying.  If the bottom is 6-8 months off, that’s not very far away.  If you plan on holding a property for at least a couple of years then you have nothing to lose by investing today.  And by the way… there IS money available to borrow today.  Just ask Ken Lewis!

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    There are many home improvements you can make to increase the value of your home. One of the hottest trends over the past 5 years has been the Home Theatre. Whether a new addition or converting an outdated space, it is sure to bring hours of entertainment to your family and friends. The question is, will it be a good investment?

The 2008 Renovation Guide, produced by Henderson & Butt Appraisal Consultants reports an immediate 20%-60% ROI:

MEDIA ROOM/HOME THEATRE (includes cabinetry, carpet, seating for 12, 101″ screen, projector, receiver, speakers, Blue Ray system, soundproofing, bath)

Approximate Cost Range $22,000 - $60,000+ 
Immediate Value 20-60%
Contribution Amount $4,400 - $36,000

DIYnetwork reported a higher ROI in their article Home Theater: Value Boosts and Final Tally. The house in question was a high value home and they converted their basement from an outdated space into a functional and entertaining modern room. Doing a lot of the work themselves and being selective in their purchases brought the ROI up to about 89%! Click on the link for the entire article. http://www.diynetwork.com/diy/home_improvement/article/0,,DIY_13954_5598486,00.html

CHECK BACK LATER for PART II of this Series.

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The most common threat to your home is burglary. Here are a few things you can do to encourage burglars to move on:

• LIGHTING - porches, walkways, dark areas around your home
• YARD MAINTENANCE - bushes and shrubbery trimmed low
• WINDOWS/DOORS - Check for working locks and deadbolts
• PRIVACY - heavy drapes, shutters and blinds to hide contents
• INTIMIDATION - Get a dog (many benefits)                                            http://www.petcaretakers.com/dog-buying/benefits.php
• NEIGHBORHOOD - Organize a watch group http://www.co.washington.or.us/sheriff/service/nworg.htm   http://www.co.clackamas.or.us/sheriff/neighborhoodwatch.jsp
• CAMOFLAGE - leave a radio or t.v. on when you’re gone
• SECURITY - check all entry gates, garages and sheds when you leave
• PREVENTION - Don’t leave objects in your yard that could assist an intruder 

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Portland Designer Leanne Marshall wins Bravo’s reality fashion design show “Project Runway”.  Waves and water were her inspiration for the final runway show.

Link to BRAVO

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We preview a lot of properties as part of our business. Walking into this Tanasbourne area townhome honestly took our breath away. It is simply gorgeous. It looks like something you would see on a designer TV show - really! To top it off, it is priced way below what has been invested in upgrades. The person who buys this townhome will not only have instant equity, but will be lucky to come home to an incredible place every day!

 Use this link to take a look for yourself and let us know what you think of it!  VisualTour

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What do the Experts say?  What do you think? Share your opinion!

“Real estate has always been looked upon as a great edge to inflation. It doesn’t suffer the ups and downs of daily economic trends. It tends to be more of a long term investment, and so a lot of people who have other portfolios of investments will make real estate part of their portfolio because of the stability that it will add. It may not be huge gains over the short run, but it always moves in the right direction and in the longer run, real estate always turns out to be a great investment. Tax policy used to be very favorable real estate investments, but now the tax policy is less favorable. A big reason for real estate investment now is long term appreciation. Real estate has always done extremely well in that run. Well-selected properties that have problems can be renovated, they can be changed in use to different types of properties. You see that with warehouses turning into large apartment buildings, etc., and sold either as condominiums or as apartment buildings, for example. There are more short-term reasons for investing in real estate; that would be the short-term gain. You can buy into whole properties and they go up in value. When appropriately handled, they continue to be good solid investments for many, many years. There is the development side of real estate where you may buy a piece of land and find the best use for that property. Then, you develop something that meets that requirement either to keep or to sell. There are a lot of reasons for investing in real estate. It is considered a high-risk investment, but the long-term returns are always quite substantial, and that’s why people do it. It’s a scary moment when you do it, but it usually works out.”  posted on eSSortment.com

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We compiled this directory for our clients and friends. Click on the Business Directory Tab on the Banner for a link.

Have you ever looked for services or businesses in the referral directory? How often? Have you conducted any business with those listed in the directory? What was your experience?

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I read a report which stated, “The #1 reason homeowners surveyed  say they purchased real estate was for “Long-Term Financial Investment”, followed closely by “Feeling of Ownership”, and the “Neighborhood I like”.  Compare this to 2003, when the investment consideration ranked #4.” (Borrow Smart, Retire Rich)

Why did you buy your house?

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With so much happening in the financial sectors, those of us in the Portland Real Estate market want a simple answer to this question. The good news is that the answer is YES!

Currently, FHA mortgages are the new trend and more than ever resemble what most of us know as conventional loans. They used to comprise approximately 10% of all loans, and are expected to comprise 60% of new loans. Here are the basics of an FHA loan:

3% Down (3.5%  effective Jan. 2009) - this can be gifted; 6% Seller Concessions; No Reserve (savings) Requirements; No Income Limits; Can have Co-Signers; Credit Score 640 or above.

What does this mean for the local buyer? It means now is the time to buy and funding is available! However, you must be prepared with all of the required docmentation and be pre-approved BEFORE you make an offer.

• Pay stubs covering the most recent 1-month period and showing year-to-date earnings and deductions (computer generated).
• W-2’s for the most recent 2 years.
• 1040’s (Personal Federal Tax Returns) for the most recent 2 years.
• Bank statements covering the most recent 2 month period - checking, savings, investment, retirement stocks, etc.
• If divorced, you’ll need a complete copy of the divorce decree, including the Dissolution Of Marriage page and the Marriage Settlement Agreement. (If legally separated, you’ll need a copy of the Legal Separation Agreement. If one does not exist, then you will be treated as a married borrower.)
• Two year history of your most recent residence: name of landlord, address & phone number.
• Two year most recent employer history.
• Contact information fo ryour homeowner’s insurance agent.
• Photo ID.

Special Considerations:

• Sole Proprietor: This type of borrower files a Schedule C in their 1040. You’ll need the most recent 2 years’ 1099s, 1040’s, and a Year-To-Date Profit & Loss Statement. Sole Proprietors will most likely not have pay stubs and W-2’s.
• Partnership: You’ll need the most recent 2 years’ K-1s, 1040s, a Year-To-Date Profit & Loss Statement, and, if you own 25% or more of the Partnership, the 1065s. The percentage of ownership is shown on the K-1.
• S-Corporation: You’ll need the ost recent 2 years’ K-1s, 1040s, Year-To-Date Profit & Loss Statement, and if you own 25% or more of the company the 1120Ss.
• C-Corporation: You’ll need the most recent 2 years’ W-2s, 1040s, 1120s, and a Year-To-Date Profit & Loss Statement. In addition, most C-Corporation owners receive a salary and regular paycheck with tax deductions, so you will need pay stubs to cover the most recent 1-month period.
• If you are not a U.S. Citizen, but are a Permanent Resident Alien, you need a copy of your Permanent Resident Alien card and may need to complete some sort of Certification.

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