Real Estate Information Archive

Forbes magazine just profiled 10 metro areas where it makes sense to buy, not more than ever.  Below is a blurb from the article, and a link to the full text.  In general, the gap between renting and buying is at a 15-year low, and that coupled with low rates, the homebuyer tax credit, and prices expected to go higher all equal a compelling opportunity for renters.  If you want to get together and discuss options or have questions, askSarita.com! ;)

In Portland, San Francisco, Minneapolis and Washington, D.C., the premium to buy--the spread between what you'd spend on renting and what you'd pay each month for a mortgage--is far narrower now than its 15-year average. And economists predict a significant home-price hike in five years. So upgrading will cost much less than usual, and home buyers are likely to get a good return on their investment.

Note that buying isn't necessarily cheaper than renting in these metro areas. In fact, it often remains a more expensive proposition. But for those determined to own, that investment is a better one now than it normally is.

Full link to article: http://www.forbes.com/2010/01/21/buying-versus-renting-lifestyle-real-estate-homes.html?partner=email

It is Friday, January 22nd, and I am going to say it - HAPPY NEW YEAR.  I am a little behind on holiday wishes this year, having had the opportunity to travel with my family to Asia for an extended vacation (50 days in Asia visiting my sister in Singapore, family in India, sightseeing in India, and relaxing in Bali. It was the trip of a lifetime!

But do not worry - I am home in Portland and not moving to Asia or leaving for a trip any time soon.

I know it is late for holiday chatter, but call me, email me, or leave a comment below and let me know how your holidays were.  I would love to reconnect!

Loking forward to making "twenty-ten" (2010) a 10!!

- Sarita

I just subscribed to a data research service that shares real-time market statistics for the Portland metro market.  There are charts with information on the median price and the days on the market and it goes back 7 days and 90 days so you can see valuable trend data.

To see this information, updated real-time, click here or click on the "View REAL-TIME Market Statistics" tab of my website anytime.

You can also subscribe to more detailed market reports.  Call or email me anytime for more information.

Hot off the press today (source: Portland Business Journal daily digest), mortgage rates are near their record low. 

Long-term mortgage rates are near the lowest levels since Freddie Mac started keeping track in 1971, with the average 30-year fixed rate falling to 4.87 percent this week.

That’s the lowest 30-year average since falling to 4.82 percent in May. A year ago, 30-year fixed-rate mortgages were averaging 5.94 percent. Rates have been below 5 percent for four straight weeks now.

If you are thinking of re-financing, the dip in rates could mean hundreds of dollars in savings per month (the article quotes a $134/mo savings for a re-fi on a $200,000 loan taken out at rates from one year ago). 

Call me to discuss - I can put you in touch with some great lender resources.

Well, I have been saying it *feels* busy, and there is a lot of activity.  The September 2009 data from RMLS proves this.  (Source Market Action, 10/15/2009 put out by RMLS). 

Here are the first couple of paragraphs of the market summary for the Portland Metro area: 

Ok, in the midst of selling real estate, helping buyers with the tax credit, and running around frantically, I recently got sidelined with a cold.  Not the flu, just a head cold.  It made me stop and think that 1) I don't have a lot of contigencies for when "things go wrong" like getting sick, and 2) What would I do if it was the flu, or H1N1 which apparently seems to be everywhere.

I am someone who does not get flu shots because I probably erroneously think they give you the flu.  When I finally got over that and tried to get them a few years ago, there was no supply and children and pregnant women were the priority.

Well, now I am ready.  To get vaccinated for the flu and for H1N1 - and I have no idea where to go.  There seems to be no place that is a sure thing with supply in stock.  Any comments or suggestions are appreciated.   And any arguments pro or con for flu vaccines will be listened to with an open mind.

This is not going to turn into a medical blog, I promise.  But I do like to chime in on current events and there is nothing more current and top of mind then this topic as we head into weather and especially for parents.

Thanks in advance for your time and input.  Stay healthy everyone! 

Okay, I have to admit I am new to blogging and have been putting posts up about the market, the activity I am seeing, and in general all things real estate related.  I figured it is time to get personal and introduce you to me as a person, not a Realtor. Here are the 10 fun facts about me you may or may not have known:

10) I am from Michigan and have lived in New Jersey, Arizona, California, Massachusetts, and Oregon.

9) I am married with two kids - a 10 year old daughter and an 8 year old son.

8) We love to travel and try to travel whenever and whereever we can.

7) I love photography but I am not very good at it.  I can't tell you about f-stops and apertures but I can tell you if I take 1000 pictures I can usually get 1 or 2 good ones.

6) I majored in Electrical Engineering and I have an MBA and if anyone ever told me I would sell real estate when I was younger I'd have probably laughed.

5) I love watching sports and like basketball and NFL football but have never gotten into college football.  As a family we are super obsessed with the Portland Trailblazers and go to every game we can.

4) My favorite color is red and my favorite beverage is diet coke.

3) I love Math and numbers.  Seriously, I could do Math for fun and enjoy Soduku puzzles with my daughter.

2) I have never seen Star Wars and have not read any Harry Potter books.

1) About a year and a half ago I embarked on journey to get healthier.  I am exercising and eating better and though it is killing me, I am sort of enjoying it.

There you go - I can go back to real estate now but hopefully this gives you a glimpse of me and my weird quirks.  Feel free to comment!

I have been a little slow to blog as every time I start to, the phone rings with a client wanting to buy or sell and to take advantage of the tax credit.  Now, I procrastinate like everyone else, but seriously, it is 10/9/2009 and to qualify for a home you have to close and fund on that home by 11/30th.  It is a tall order but I aim to atleast take a whack helping clients meet their goals and dreams.

I am not sure if it is the credit, the low rates (I have had clients this week get 4.875% on a 30yr fixed and 3.75% on a 5yr ARM - also at conventional, limited to $417K loan amount), the recent reports of the economy picking up, or if it is just Mercury in retrograde, it is clear to me that things are hopping and it is at the pace where I like it (crazy, intense, and awesome!).

Hope you are having a good week and would love to see your comments on anecdotal feedback on the housing market - both positive and negative news are welcome.

Thanks for reading!

If you are enjoying my blog and want to get to my blog directly, you can now access it www.asksarita.net.  Easy access for information about real estate, Portland, and anything you might want to know about... Thanks for visiting my website and blog and I appreciate your business and support.

As part of my EA-STAR training, I learned of a cool tool that I wanted to share with you.  It calculates your ecological footprint, or how much land area it takes to support your lifestyle, and it factors things like your diet, your travel/driving habits, how many goods you use that require shipping, that sort of thing.  I was shocked at my results, and am using it as a baseline to try and make some positive (or should I say negative) changes to reduce the amount of area I take up...

Check it out and please let me know what you think... http://www.footprintnetwork.org/en/index.php/GFN/page/calculators/