Central Oregon Real Estate Info

RiverFront Home on Pringle Falls Hear The River!!!

Sat, 29 Aug 2009 12:43:49 -0500

Central Oregon is known for it's beauty and versatility. You can obtain just about any type of property you want in Central Oregon (no ocean view though). One of the most popular property searches is for riverfront property in Central Oregon.

Most of the River Front Homes for sale in Central Oregon are on The Big Deschutes or Little Deschutes Rivers. There is a great community on The Big Deschutes River called Wild River. The name comes from the section of the river these homes are located. Pringle Falls has the appearance of a fast rapid and makes the river wild in the area.

This home on Wild River Way is currently being offered at $239,900 and I personally believe it is one of the best deals in Central Oregon. For more information please contact me.

River Meadows, Bend, OR - Great House! Great Price!

Wed, 02 Sep 2009 00:50:32 -0500

We all know that it is a buyer’s market, just about everywhere in Central Oregon inventory is high, prices are low and now is the time to buy! River Meadows in no exception! Finding a great deal in today’s market seems to be the objective of almost every buyer, and who could blame them? There are great deals to be found!

55782 Lost Rider Loop is located in River Meadows. This home is located just a short distance from the Big Deschutes River. River Meadows does have paved paths for bikes and walking or running. The path does follow the Big Deschutes River.

55782 Lost Rider Loop is a 3 bedroom 2 bath home that also features a bonus room. It is currently priced at $144 a square foot – which when compared to the average of $196 (as of today) a square foot. The price per square foot is a great way to see the motivation of the seller, but keep in mind this home has slab granite kitchen counter tops, hardwood, well maintained, has front and back decking, and backs up to a nice green belt.

Check out this slideshow of the property, then call your agent or me to see the property!

9520 Smith Rock Loop, Terrebonne, OR 97760

Tue, 15 Apr 2008 23:33:58 -0500

NO LONGER ON THE MARKET

Location, View & Comfort - What More Could You Want?

Location: Terrebonne, OR

Location, location, location! Privacy at a premium all on 5 acres with irrigation. Outstanding one level full scribe log home with unique fireplaces, detailed hand carvings, heat pump, hardwood and tile throughout. Oversized garage with shop, paved driveway and lots of covered parking. Security gated, has a barn, RV Storage and RV dump. Plus a 1080 sq ft guest house too. A must see!
front of home facing Smith Rock Central

Information

Contact Information

thesa@centraloregonbuzz.com

Thesa Chambers, Broker, ABR

541-771-7064

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Pricing

Asking Price: $825,000

Property Location

9520 Smith Rock Loop
Terrebonne, OR 97760
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Links

Central Oregon Real Estate

Features

Bedrooms: 3

Bathrooms: 3

Parking: Garage / Carport

Year Built: 1994

Subdivision: N/A

Lot Size: 5 Acres

Garage Size: Detached Double Garage & Attached Double Carport

School District: Redmond/Terrebonne

Square Footage: 2156

Agent Name: Thesa Chambers

Broker: John L Scott, La Pine

MLS #: 2714654

Attributes

Appliances

Range/Oven

Full Refrigerator

Dishwasher

Microwave

Interior Amenities

Fireplace

Hardwood Floors

Vaulted Ceilings

Exterior Amenities

Patio

Grass Lawn

Water Feature

Hot Tub/Spa

Sprinkler System

Photo Gallery

View as Slideshow View Photo Gallery (5 Photos)

EQUAL HOUSING OPPORTUNITY

VFLYER ID: 929387

Wordless Wednesday! A Taste Of Logging Days Gone By in Central Oregon

Wed, 03 Jun 2009 10:33:47 -0500

$8,000 Tax Credit .............. Watch Out For The SCAMS!!!

Sun, 31 May 2009 01:46:16 -0500

Remember - to always check with a WELL KNOWN lender and your AGENT

Via George Souto (McCue Mortgage) FHA, CHFA, VA Mortgages CT.:

Yesterday I wrote a blog on the new policy that was just announced by HUD for the $8,000 Tax Credit, in their latest Mortgagee Letter "MORTGAGEE LETTER 2009-1. In it I advised everyone to read it for themselves and become familiar with it. What I did not do in my blog yesterday was to further advise everyone to caution their clients about the SCAMS that will most likely emerge as a result of this latest change.

We have seen SCAMS pop up for everything prior to this, and I have no doubt that new SCAMS will pop up with creative ways to take advantage of those who do not follow sound advice, and would rather listen to those who will tell them what they want to hear instead.

We have seen SCAMS devised to take advantage of those who are trying to refinance out of high interest loans.

We have seen SCAMS devised to take advantage of those who have fallen behind on their mortgages and are being promised loan programs that they can't possibly qualify for.

We have seen SCAMS devised to take advantage of those who are trying to Modify their present mortgage.

So why would we not expect the Con Artist to come up with ways to make money off of this latest change to the $8,000 Tax Credit that is prime for the picking.

Make sure that your Buyers/Borrowers are dealing with reputable Lenders and Banks when it comes to this. They need to stay away from Internet Lenders that no one has heard of.

It is likely that very few Lenders and Banks will participate in this program, because most are not set up for doing Bridge Loans, which this will be a form of. I have not heard of anyone that has even considered participating in making these advances on the $8,000 Tax Credit available.

So as they use to say on the TV program Hill Street Blues "Lets Be Careful Out There"

******************************************************************************************************************

Info about the author:

George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com

Good Faith Estimates - Knowing & Understanding the Power of the paper!!!

Thu, 21 May 2009 00:18:39 -0500

Jeff is a well respected FHA expert - this is important information for all buyers - and so it is my honor to have the ability to post his information on my blog

Via Jeff Belonger -- The FHA Expert.com -- FHA Loans -- FHA mortgages - USDA loans (Infinity Home Mortgage Company, Inc):

Good Faith Estimates - Extremely important message below!!!

If you are a consumer looking to purchase or refinance, this is a must read. It could cost you thousands if you don't pay attention. This is not a threat, but a warning from someone that has over 16 years of experience in the mortgage industry.

When shopping for a mortgage, even if shopping with more than 2 lenders, you want to get a good faith estimate from everyone that you speak to.

So, here is my pet peeve. This is a major red flag - if you speak to a loan officer, on the phone or in person, and they didn't offer you a good faith estimate, don't walk, Run!!!

The Good Faith Estimate is an over abused term and can be misleading. If the loan officer qualifies you for a mortgage, no matter if its a FHA loan or a conventional loan, you should receive one in a few hours. In reality, if the loan officer qualifies you and tells you a rate, a payment, and your total costs, they should be able to give you that good faith estimate in a matter of minutes. Think about it, they had to do this already in order to give you those figures. There is no excuse. Sure, things happen, but just being busy is not good enough. Unless they specifically tell you that they will give it to you the next day. This can happen, but other than that, if they dont communicate this with you, no excuse. And this could be indicative to how your loan process will go.

Let me ask you this. If you are shopping for a car, don't you want to see your payment, interest rate, and total costs? I know I would. If you have to keep asking for a good faith estimate and it's been 3 days, major red flag.

Overall, it doesn't matter if you are applying for a FHA loan, a conventional loan, or any other type of mortgage. If you have to beg for a good faith estimate, you are just asking for trouble in most cases.

THE GOOD FAITH ESTIMATE

So, what is a good faith estimate? Its an estimate of all your costs associated with buying or refinancing your home. But here is the catch. There are some costs that are known costs and not just estimates. These would be the lenders fees. The lender fees are all fees that are under lines 801 to 823. I enlarged this section below for you.

Three things that you want to look for when you first look at your GFE.

Look at the loan program and make sure this is the program that you want. If it was an adjustable, it would say differently. This would fall under the term of the loan.

Look at the mortgage rate. Make sure this is what you discussed when speaking to your loan officer. (Up top, middle of page, yellow highlight)

The 3rd issue are the fees. As I mentioned above, everything in section 801 to 823 would be the lenders fees or anything the lender is going to charge you. (left hand column with highlighted items) Don't ever be fooled if one lenders fee is higher than the other. You still need to compare the mortgage rate.

(Speak to your tax accountant to make sure what can be written off and what cant. But typically just the points can be written off)

What not to do when comparing good faith estimates.

Don't compare total fees at bottom of the GFE, which I will explain why below.

Just dont compare the APR of the loan. (explained here)

Conclusion: Again, don't always shop and ask for total fees. Compare the lenders fees the most. In regards to your escrows, each state is different. I highlighted this in red. Your property taxes are paid either quarterly, twice a year, or once a year. I have seen some loan officers sometimes not show enough for your escrows in regards to the property taxes. Its very easy for a loan officer to say at closing, ˜these aren't my fees, so all I can do is give an estimate. Word of advice, yes, its an estimate. But I have seen some loan officers estimate less to make the overall cost look cheaper. And just be careful, because some of these figures are not worth the paper that they are written on. It's just that, an estimate based on good faith. Make sure that you always speak with a Mortgage Professional. And don't shop yourself right out of the market.

One other thing, if you have 3 good faith estimates in front of you, always go back to the person that you had the best feeling with, that you are comfortable the most with, and share the other 2 with them. Just don't run to the person with the best rate and or fees. I always like my clients to come back to me no matter what. I might be able to point something out to them. And this next topic must be discussed when receiving a GFE, otherwise this Good Faith doesn't mean squat. Locking or floating my mortgage rate !!!!

Lastly... if you are going to shop rate & costs, ALWAYS shop on the same day !!! Rates change daily...

UPDATE : The laws in some states are different, when a good faith estimate must be given. In Paul McFadden's example, comment #15, they have 3 days from the day they pull credit. According to RESPA, the lender has 3 days from the time of application. When just casually shopping, there is no time period or law.

In regards to my example, with the rate and points, this is just an example. Besides, not all rates or good faith estimates come with points. And I don't charge fees. But there is a cost of doing business with any lender or bank out there.

- FHA Loans - USDA Loans - VA Loans -

- Energy Efficient Mortgages -

- Conventional Loans - 203 k loans -

- Mortgages -

Experience & Knowledge at its BEST !!!

_________________________________________________________________________________________

For more information on FHA loans, please go to this link. The FHA Expert

For more information about the 2009 Tax Credit for First Time Homebuyers : 2009 Tax Credit

For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags !!!!

Copyright © 2009 by Jeff Belonger

Fire Season is Around the Corner

Wed, 20 May 2009 11:03:44 -0500

We are finally seeing some nice daytime temperatures and with the warm weather comes the threats fo fire. Packing an evacuation kit prior to an emergency is a great way to reduce your stress level at the time of evacuation.

There are many items you may need that when under stress you may not think to take. Placing these items in the same safe location may make it much easier and less time consuming should you need to evacuate.

Be sure you are prepared for Central Oregon fire season.

photo by Sam Beebe / Ecotrust

Central Oregon Bank Owned Homes Free Listings

Thu, 07 May 2009 00:40:27 -0500

Central Oregon is a great place to be from and a great place to live. When you live in Central Oregon and travel everyone is jealous of your home area. Central Oregon is one of the most visited places in Oregon because there is so much to do. NO matter what your favorite outdoor activity it can most likely be found in Central Oregon.

Full List of Bank Owned Homes in Bend, Three Rivers South & La Pine Oregon!

Because we have such great recreational areas we also had a huge boom in real estate. Now we are seeing some of these past buyers in trouble and with that we have bank owned homes.

5 Years Ago - My Life Changed Forever - Thank You TEXAS

Wed, 06 May 2009 00:44:25 -0500

5 years ago today I met my father for the first time, I was almost 41 years old that Cinco De Mayo. It was a great day, one I had dreamed of my entire life. One that fairy tales are made of. I grew up always wondering who he was, what he had done with his life, did I have siblings I did not know about, the questions were endless.

My dad was not the saint I had dreamed of, he was so much more. He was who he was, and never tried to be anything else. In 5 years he told me all the stories he could about his life, he told me the truth and he loved me unconditionally.

5 years have gone by since I met my dad and my time with him was limited as he passed away last September.

I will always remember the day I stepped off that plane. There was never a thought of not going to meet the family I never knew, it was just supposed to be. We were meant to be together. We were meant to meet. I have 3 beautiful sisters, a wonderful step mother and a great family of nieces and nephews that will always be apart of my heart and life.

It amazes me how one phone call, one plane ride and one simple step forward can change your life forever. My dad may be gone, but the lessons he taught me, the family he gave me and so much more will live on forever.

Happy Anniversary Dad and The Arrington Family - I love you all and miss you all.

Happy Easter

Sun, 12 Apr 2009 11:50:07 -0500

I hope all of you are having a great Easter - I just love how simple children can make our lives. This is a video that had us all laughing the morning... This is our 2 year old grandson trying to put 19 eggs into a carton that holds 18 - he is pretty determined - hope it makes you smile - What a great day to take off and just enjoy the world around me... See you all Monday!!!

We Found The House - The Price Is Right - Now For The Offer

Wed, 08 Apr 2009 23:32:49 -0500

I love working with first time home buyers. The feeling through out the transaction all the way to closing and after is so rewarding. Today, a young couple I have worked with for 2 and a half years finally got an accepted offer on the perfect home. A bank owned, brand new never lived in 4 bedroom home.

This young couple has waited patiently - they have driven streets, they watch their email and they knew exactly what they could afford regardless of what they qualified for (lender would loan more than they wanted to spend).

We saw the home come on the market last month and made a low offer on it... we held our breath - the bank would not budge....they felt the activity they had would bring them a higher offer. Guess what - it did not, they had to lower the price.... and again we made a run at this home and again the bank would not budge.

Monday the home had yet another price reduction.... lower than what we had offered not once but twice.... and guess what we did not offer full price - and guess what - we got the house.

Patience, teamwork and persistence has paid off - I am thrilled - now to get through the Typical Central Oregon Contingencies. The Bank has already provided the septic info, well report and we are well on our way to a successful closing.

If you are ready to buy, just thinking about it, or not sure what you are looking for - sign up for your free listings.

Ask & You Just May Receive IT!

Wed, 08 Apr 2009 01:51:08 -0500

Months ago I asked either here on ActiveRain or in another forum, how to get involved with listing bank owned homes. I really thought it would help my business and generate some sales, a a very wise agent, and I am sorry I do not remember who you were, told me you do not want to be known as the REPO agent find the buyers. Since then my business has been focused on finding buyers for bank owned properties. I am seeing some decent success at this niche market. Educating buyers to the fact that they do not have to use the listing agent - or what they call the bank's agent has been the biggest obstacle.

Many buyers believe they can not ask for repairs - this is untrue. Banks will not do the same repairs an owner occupied seller would but they will do some repairs. I have had banks agree to replace wall heaters, fix plumbing and replace septic systems.

Buying a bank owned home in Central Oregon can be frustrating, because the good ones generally sell quickly, they are priced right and clean. Most of my buyers know a home is coming on the market before the public. When you subscribe to my automatic listing program you will receive a copy of the listing about 24 hours before it hits the public sites.

If buying a bank owned home anywhere in Central Oregon is something you have considered sign up below, no obligation and no spam I promise.

Are You Willing To Lose The House For $2,000 Difference?

Tue, 07 Apr 2009 06:29:06 -0500

Buyers today are in the drivers seat more than ever, we all know this and buyers are educated about it. However, when do you stop and say - ok. Every time a buyer or seller puts out a new offer or a counter offer they take the chance of the other walking away. We all have our bottom line and some of us do not want to move off that number.

But... Buyers and sellers are you risking the home of your dreams or the sale when you counter offer and are only a thousand or two apart? Is getting that additional $1000 going to make any real difference on your payment or what goes in the bank? Even if the answer is yes, every day that the negotiations go on is another day that closing can be delayed.

Today, the sad truth happened for one of my buyers. We were battling back and forth over the weekend over $2000 and the seller finally caved in... we got the house for the price the buyer wanted.... GREAT UH????

Not so fast... you see, Friday lending guidelines changed and the buyer no longer qualifies for this second home. So since the loan was not locked - the lender can not honor the program we planned to use. So everyone lost out over a $2000 difference, the buyer no longer qualifies for the loan and the seller is without a buyer...

Back to the Drawing Board all the way around, be certain you want to take that risk when you are so close, the outcome could cost you more than the difference.

Oregon Coast Property with a View to Dream About

Mon, 06 Oct 2008 14:46:48 -0500

It is not often that a find such as this comes on the market. This home is priced to sell and the seller's loss is certainly a buyer's gain.

Over an acre with an Ocean view that most can only dream about under a million

Priced at $995,000 - this 2568 sq ft home takes full advantage of the view.

Short Sale vs Bank Owned

Mon, 05 Jan 2009 17:01:34 -0600

Today Buyers and Sellers of Central Oregon homes are hearing these terms more and more which bring more questions than answers most of the time. There are many misunderstandings of what these terms mean and what the process is or can be. The current real estate market is one that even veterans of 40 plus years have never seen before. Let's explore what these mean here locally and have a glimpse of what they may mean in other areas.

The Short Sale - A seller is attempting to sell their home for less than they owe the bank. That is the simple answer to what a short sale is. As we tread on you will see that the answer is not all that simple. How can the seller do this is one of the most common questions followed by how can I buy this home for less. The seller of a short sale is usually behind at least one payment and can not keep up with the current mortgage. The banks do not want to have to take the home (Foreclosure). Some of the reasons are, banks are not in business to be home owners and the average cost to the bank for a foreclosure is in excess of $30,000 according to some experts.
Ashley Drake Gephart, Associate Broker, REALTOR® a good friend in Albuquerque explains in more detail what a short sale is

A short sale of a residential property is still owned by the owner, but the owner is usually behind in their payments and the price listed is short of what is needed to pay off the mortgage and closing costs . There is no guarantee that the bank will accept a short sale even if the owner offers the full list price, and the response time from a bank on an offer can take up to six months.

A Short Sale is always subject to the lender approval this process is far more complicated that it sounds. Some homes currently listed as a short sale have a first and a second mortgage. In these cases approval by both lenders is necessary. Most short sales will be sold as is, with few if any warranties. Everything about the contract depends on the bank agreeing to it. A short sale can take weeks to months to get bank approval.

Joshua Jarvis REALTOR® in Georgia also explains short sales;

Pre-Foreclosures are also called Short Sales in some cases. Most of these will be listed as well. Short sales can be a great deal and opportunity but do require patience and a easy living arrangement in case the deal falls through. Not all pre-foreclosures are short sales, but most will be.

The process is not as simple as it sounds. There are specific documents the seller will need to provide sometimes multiple times, the listing agent will need to have extensive communication with multiple parties to keep the ball rolling and be familiar with the process and the specific situation.
As a buyer you can have the best agent out there and if the listing agent is un-aware of the process your offer can be a total waste of time. Sellers if you are working with an agent and trying to short sale your home, make sure your agent knows the process. More than one buyer can tell you that they had an offer with a short sale only to find that it went to foreclosure anyway. Reasons for this can vary from the bank would not accept the offer to the listing agent did not ask for the sale date to be delayed while the offer was negotiated.

Complete Article of Central Oregon Bank Owned vs Short Sale