How We Helped Monty Find a Home on a Budget

"I was very happy. I worked with Caralee, and she worked hard to stick to my rigid budget. She got me in the house I wanted and stayed within my price range. She even stayed with me late at night putting in a counter offer on my home, when she didn't have to. She did a great job!"
-Monty Foust, Home Buyer

Portland Real Estate Classes for Buyers and Sellers

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (503) 427-9233 for a FREE home buying or selling consultation

I'm extremely excited to announce that the Oregon Association of Realtors has picked me to be an instructor for real estate classes aimed at educating consumers. I was one of twelve agents chosen out of the entire state of Oregon, so I'm very humbled and honored to have this opportunity.

I've worked out a deal with Stellar Realty's owner, Paul Campbell, and he's also agreed to teach one class per month. I will also teach one class per month, and these two classes will be aimed at first-time home buyers, and then the other portion will be aimed at investing in real estate.

If you're interested in learning more about these classes, please don't hesitate to contact us or resister here! You won't want to miss out on any of this information! 

Portland Neighborhood Spotlight: John's Landing

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Today, I want to give you a behind the scenes look at one of Portland's most established neighborhoods: John's Landing.

John's Landing used to be known as Fulton and is positioned east of the I-5 between the Tualatin and Willamette rivers. It follows the Willamette River for three miles, stretching north to South Waterfront and south to the Sellwood Bridge. John's Landing is home to both commercial and residential properties, including our very own Stellar Realty office!

Just across the street is Jolly Roger, a great pit stop whether you're looking for food or something to drink; we really like to do Thursday night trivia! Down the street you'll find the amazing Zen Salon; I recommend Melissa - she's great for girls and guys alike!

There is a great variety a homes in the John's Landing neighborhood. Properties range from gorgeous old foursquares to bungalows and condos! Seeing these great old homes is a great reminder of the home maintenance we should all be doing in our current homes: cleaning your furnace filter; inspecting your tub and sink drains; cleaning your carpets and windows; checking the batteries in your smoke detectors; and inspecting your roofing, among other things.  For a complete list, check out the Better Homes and Gardens Maintenance Checklist!

A great restaurant in the area is Fulton Pub & Brewery, one of the infamous McMenamins restaurants. The story behind this pub is quite interesting. Although the McMenamins didn't open this pub until 1988, legend has it that the pub dates back to 1926, before it was a prohibition era hangout that served home cooked meals and offered pinball games, candy, and ice cream. To learn more about McMenamins and the passport program they have, click here.

One of the best parts about John's Landing is Willamette Park. There's plenty of room to play for the kids and plenty of room for adults as well. Across the river is the Oregon Yacht Club, to the south is the Sellwood Bridge, and to the North is the downtown area. It's a great place for recreation of all kinds, but especially boating!

If you have any questions about John's Landing, or if you want to search for homes in the neighborhood, visit Caralee.PortlandPropertyFinders.com. I would love to hear from you!

How We Helped Kathy Through the Buying and Selling Process

"We purchased a home and sold a home with Stellar Realty. I worked with Caralee Angell, and she is just amazing! We bought our new home, moved, and sold our previous home. In buying our new home, we knew what we were trying to find, but Caralee really listened to our unspoken needs. She could tell when we were in love with a house and when we weren't. We almost talked ourselves into buying a house that we wouldn't of been as great as the one we eventually found. We ended up spending less money for a better house, in a better location, because Caralee really listened to us. She was always in our corner and acted as an advocate for us! In selling our previous home, Caralee provided great advise for what we should and shouldn't fix before selling. In fact, there was one repair that needed to be done in our garage, and Caralee's dad actually came over to fix it! She gave us great advice on how to price our home and it sold in no time!"
-Kathy Stevens, Home Seller and Buyer

Check Out the Mount Tabor Neighborhood

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Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (503) 427-9233 for a FREE home buying or selling consultation

Today, I'm going to give you a tour of one of my favorite neighborhoods in Portland - the Mount Tabor Neighborhood! This great location is nestled in Southeast Portland, an ideal location close to downtown, freeways, parks and other venues.

Our first stop is Mount Tabor Park. This park is actually on top of an inactive volcano. The park offers miles of hiking trails that cover 196 acres. These trails are great for biking or hiking. There are tennis courts, picnic areas, and a playground. There is something for everyone at Mount Tabor. Stop by for a beautiful view of the downtown skyline, and the best sunset you've ever seen.

Tilikum Crossing Bridge is the only bridge in Portland reserved for cyclists, pedestrians, and the MAX light rail. This is my favorite way to get to Mount Tabor from downtown Portland! It only takes 10 to 15 minutes to go from downtown Portland to the Mount Tabor neighborhood, and there are many great public transportation options for you, such as the bus line.

Mount Tabor also offers a variety of locally owned businesses. There are great bars, restaurants, bookstores, and pubs! Hawthorne Boulevard is one of the most well-known streets in this neighborhood. Cup and Saucer  is one of my favorite breakfast places. You must try their homemade scones!

Albina Press Coffee Shop is just west of Mount Tabor Park. Portlanders are very serious about their coffee, and Albina does it right. They also serve Stumptown coffee, a local coffee that is very popular. Albina provides a cozy atmosphere.

On the Portland food scene, food carts are our claim to fame. There are pods of food carts all over town, such as this one, Good Food Here, located at the base of Mount Tabor. This pod definitely lives up to its name. There is a huge variety of food: Korean, tacos, seafood, vegan, vegetarian, and more! Good Food Here offers a heated, outdoor eating tent. It's a great place to check out if you want to try a few different things, or if you don't have time to prepare a meal at home.

Tabor Tavern is located right in the heart of the neighborhood. The food is amazing, and there are rotating taps of beer, cider, and local wines available as well. I recommend their Caesar salad. Happy hour is from 3:00 to 5:30, so be sure to stop by!

Overall, the Mount Tabor neighborhood is a great place to live. In addition to the parks and restaurants, Mount Tabor offers a wide diversity of homes. If you have any questions, give me a call or send me an email. I look forward to hearing from you!

How Will Changing FHA Guidelines Affect You?

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Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (503) 427-9233 for a FREE home buying or selling consultation

Today, Shelby Spencer of Primary Residential Mortgage joins us to discuss some of the changes to FHA Guidelines starting September 14.

The biggest change to look out for is with student loans, which can no longer be removed from the debt ratio if they are deferred. This means that all contracts or offers written after September 14 will be affected by these changes. Another change comes to large deposits; we used to only need to source large deposits of around 2% of the sales price, but deposits of 1% or more now need to be documented. In addition to these changes, know that funds can no longer be used as assets; you can't create a stronger profile with gift funds, although they can be used as a down payment.

With the inventory as tight as it is; there is a good chance some of the pre-approved FHA buyers may find themselves losing their previously issued pre-approved status before they get an accepted offer. The new FHA guidelines take effect with FHA case numbers assigned on or after 9/14/15. (Case numbers can only be assigned when a property has been identified.)

The following bullet points are just a few of the areas that could affect buyers. I recommend that all FHA pre-approved buyers contact their loan officer to review their situation against the new guidelines. Here are some of the areas that are affected (I will cover them in more detail soon):

• Federal Tax Liens
• Mixed Use Property
• Bankruptcy less than 2 years
• Occupant borrower has no credit score
• Self-employed borrower's income is greater than 20% declining from the previous year
• Installment debts with less than 10 months remaining
• Deferred loan payments (student loans)
• 30-day credit accounts
• More than 3 jobs and/or profession changes in the last 12 months
• 2- to 4-unit properties
• Retaining current home as a rental
• Nontaxable income (like social security income)
• Earnest money deposits greater than 1% of sales price
• Using gifted funds for any reserve requirements

As long as everyone is aware of these changes up front, closing times shouldn't be too affected. Of course, the best way to prepare yourself for these changes is to reach out to a professional and begin the process sooner than later. You can reach Shelby at SSpencer@Primeres.com or (503) 572-8865. Of course, if you have questions or concerns on the real estate side of things, don't hesitate to reach out to us. We would love to hear from you!

The Top 10 Renovations that Are Sure to Save You Money

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Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (503) 427-9233 for a FREE home buying or selling consultation

Today I'd like to share an interesting video I found on HGTV. It documents the ten best renovations that you can make on your home that won't cause you to go broke! Renovations can get expensive, but here are some ideas to help you get more bang for your buck.

10. Using subway tiles is an inexpensive way to redo your kitchen and add a retro feel to it.

9. Speaking of a retro feel, using vintage furniture and fixtures can look and feel great on your wallet. 

8. You can create an 'art wall' by collecting used wood. This hand-crafted, old-school look is sure to impress your guests.

7. Instead of ripping out your hardwood floors entirely, just replace the ones that cannot be used anymore. Lacing new boards in with old ones has an eye-catching look.

6. Changing the knobs on your cabinets and doors can create a whole different feel in a kitchen.

5. Instead of updating your entire bathroom, just refinish your tub. It makes everything else look new again.

4. Painting your home by yourself can be a huge money-saver.

3. Hiring a good Realtor can save you money as well. They know how to negotiate deals and get you the best price on a home that you're buying or selling. Talk to me about this!

2. Waterproofing your roof can save you tons and tons of money down the road. Being proactive about major structural issues in your home is always a good idea.

1. The last couple saved nearly $20,000 renovating their home because they knew a good mill-worker. While I can't promise that you'll save that much, I do know good contractors that can offer you discounts on their services!

So, there you have it. Ten easy ways to save money while renovating your home. While these are all great ideas, I'd prefer if you spoke with me before you went about ripping up your house.

Not all renovations are necessary if you're trying to get top dollar before a sale. Often times the most expensive renovations will not make you the most money back - if you get any money back at all.

Please don't hesitate to reach out to me if you have any questions about this video, or if you have any Portland real estate needs!

What's Happening in Lake Oswego?

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Today we're in Lake Oswego, a charming town just south of Portland, and one of our favorite destinations when we just want to get away for a while.

We're in the Millennium Plaza Park of Lake Oswego, where there is fine dining, movies, music, and much more. It's a wonderful little area for anyone and everyone looking to relax for a bit. Maybe if you're lucky your parents will take you to Salt & Straw for a gourmet ice cream cone. 

One of the great parts about this area is the school system. Both high schools in Lake Oswego were in the top 15 in Oregon, and this is just one of many reasons why people are choosing to move here. 

Our favorite neighborhood in Lake Oswego is called First Addition, and it was established in 1888, making it the oldest neighborhood in the town, and also the most desirable. 

If you're interested in properties in this town, please don't hesitate to ask us about them. There is a lot of buzz surrounding this community right now, so don't miss your chance to invest before it's too late.

To find a home in Lake Oswego, visit http://bit.do/LakeOswegoHomes.

What's Happening in the Portland Real Estate Market?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (503) 427-9233 for a FREE home buying or selling consultation

It's spring already, and the Portland real estate market is off to a hot start. We only have three months of inventory, and that is down from last month. We're seeing multiple offers and people are scrambling to win offers on good homes. 

Despite some arguments that Portland is caught in a seller's market, it's actually a pretty great time to buy a home. Interest rates are around 4%, and affordability is sky-high right now. Nobody is certain when interest rates will rise again, but just a 1% increase in rates could cost you thousands of dollars. For example, just a 1% increase in the mortgage interest rates on a $400,000 home could cost you an extra $85,000 over the life of the loan!

Although this is a tough market for buyers, now is an excellent time to buy a home. Your dollar will push you further than it ever has before. With this being said, it's also a good time to sell your home and move up into a nicer one. 

For more information, click here to check out the fantastic article in the Portland Monthly for April 2015.

If you have any other questions about the Portland real estate market, please don't hesitate to contact us!

How Can You Make the Most of the Portland Market?

There are many great Portland area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home,click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (503) 427-9233 for a FREE home buying or selling consultation to answer any of your real estate questions.
Today, Stellar Realty's principal broker is here to give us an update on the Portland market!

Right now, the market is great! We're very lucky here in Portland, as we're on a list of the 13 best places to move to! Last year, Portland and the surrounding areas gained about 7% in the real estate market, and prices are predicted to continue rising for at least the next three years. During their current ascent, average home sales have risen from $311,000 to $333,000.

Another thing we've noticed is that inventory has been quite low, it's currently only at 3.5 months! Homes that are priced well and in great condition are being snatched up incredibly fast, which has been very frustrating for some of the buyers we're working with. Despite the difficult conditions, buyers are still trying to submit lowball offers, and while that worked four or five years ago, no one is having much luck with conditions the way they are. Homes are disappearing before we have time to look at them and write a proper offer. 

Sellers currently have the upper hand. The most important thing for them to decide is whether they want to get top dollar for their home by making some repairs or put it on the market right away and see what they can get for it. Either way, you should be able to get buyers to pay a fair price for your home. You need to ask yourself where you're looking to go after the move - do you want to upgrade or downsize? Here at Stellar, we have the experience and expertise to help you make your decision an informed one! 

If you have any questions about the Portland area market, or if you would like our assistance in any way, please don't hesitate to give us a call or shoot us a quick email. We would love to hear from you!