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Displaying blog entries 11-17 of 17

Lower interest rates and more, making buyers start to buy again

Tuesday, October 10, 2006
by Rob Levy, Prudential Northwest Properties

Last week and this week I have been working with a number of buyers that have determined, based on the market from the past 60 days, current market news, positive state of the economy, lowering interest rates and the comfortable level of inventory, they are all starting to buy again.

 

I have 5 buyers that have been in a "holding" pattern for the past 20-40 days, waiting to see what the market would do, they have all started buying again.  I have written 5 offers in the past 9 days, twice the amount from the previous 40 days.  The buyers are looking at the increased inventory as a positive sign.  They are also seeing positive signs from the national news, job growth, consumers spending money and the price of a gallon of gas is way down.

 

Many areas are attracting interest right now in Portland, Oregon.  Close in SE, Sellwood, Hawthorne, Belmont and a bit more East in SE.  We are also seeing many buyers wanting to move from very close in SE and NE Portland to close in SW Portland, getting more home, larger lots and from what they are telling us, better schools and lower taxes!


From what we are hearing and reading, we are expecting the interest rates to continue to fall, have more buyers move from the sidelines and become more active in the next 60 days, we expect to see a strong finish for 2006 and 2007 start very strong!


This blog entry submitted by Bruce Hecht - Broker/Buyer Specialist with The Rob Levy Team

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Tigard buyer asks, Is a Home Inspection Always Necessary?

Tuesday, October 10, 2006
by Rob Levy, Prudential Northwest Properties
Often a prospective homeowner will ask the question, “With new construction, is it really necessary to have a home inspection?” As any member of the Rob Levy Team will tell you, “It is a small cost, usually only $350-$500, to protect your most expensive investment to say nothing of revealing a potentially life threatening situation for your family. We write it into the sale agreement so the builder knows right up front that a home inspection will be done as soon as the home is complete.
 
While working with out of state buyers in the Bull Mountain neighborhood in Tigard just recently, this question came up. From personal experience, I can say it is not unusual for a home that has had approval of state and local building inspectors to have from small to large items come to light. In fact, there can be things that are not necessarily code violations that can make the home work better if tweaked in a certain way. Certainly in our rainy climate, the least I want my clients to know is that their home will drain properly when our Northwest winters hit. Also a home inspector may know of certain areas of the city that can benefit from having a radon inspection or a sewer scope done.
 
Some builders can be a little defensive, after all, the home is under builder warranty for a year. Even this Bull Mountain builder with an excellent reputation, has much of the work done by sub-contractors and with so many details to cover in a new home, it is certainly not surprising that flaws can be found.  
 
It is peace of mind to the new owner to have both the builder and the licensed home inspector give their new home the all clear…a great new home!  
 
You may be sure as a buyers’ agent of the Rob Levy Team, I will be proactive and treat your home purchase as I would my own.
This blog entry submitted by Sandra Hanis, Buyer Specialist with the Rob Levy Team
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Tigard buyer asks, Is a Home Inspection Always Necessary?

Tuesday, October 10, 2006
by Rob Levy, Prudential Northwest Properties
Often a prospective homeowner will ask the question, “With new construction, is it really necessary to have a home inspection?” As any member of the Rob Levy Team will tell you, “It is a small cost, usually only $350-$500, to protect your most expensive investment to say nothing of revealing a potentially life threatening situation for your family. We write it into the sale agreement so the builder knows right up front that a home inspection will be done as soon as the home is complete.
 
While working with out of state buyers in the Bull Mountain neighborhood in Tigard just recently, this question came up. From personal experience, I can say it is not unusual for a home that has had approval of state and local building inspectors to have from small to large items come to light. In fact, there can be things that are not necessarily code violations that can make the home work better if tweaked in a certain way. Certainly in our rainy climate, the least I want my clients to know is that their home will drain properly when our Northwest winters hit. Also a home inspector may know of certain areas of the city that can benefit from having a radon inspection or a sewer scope done.
 
Some builders can be a little defensive, after all, the home is under builder warranty for a year. Even this Bull Mountain builder with an excellent reputation, has much of the work done by sub-contractors and with so many details to cover in a new home, it is certainly not surprising that flaws can be found.  
 
It is peace of mind to the new owner to have both the builder and the licensed home inspector give their new home the all clear…a great new home!  
 
You may be sure as a buyers’ agent of the Rob Levy Team, I will be proactive and treat your home purchase as I would my own.
This blog entry submitted by Sandra Hanis, Buyer Specialist with the Rob Levy Team
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The Importance of a Great Lender

Tuesday, October 10, 2006
by Rob Levy, Prudential Northwest Properties
When given the opportunity, I educate our clients to select a lender based on a number of variables rather than simply based on rates and fees. In any transaction, from the simplest to the most complex, a lender can literally make or break the closing. There are multiple opportunities for a lender to show their range of services, the most critical of which include customer service and time management skills. It would be silly to ignore the importance of rates and fees, but time and time again we on The Rob Levy Team have seen how an initial dollar break can cost a client the equivalent or more in time, heartache, and frustration if their selected lender doesn’t follow through on their commitments.
 
Fortunately, we had the help of a terrific lender last week during what could have been a very frustrating transaction. There were a couple of critical repairs that needed completion prior to closing, and we were on a tight timeline. The transaction was further complicated because the seller was difficult to reach and the buyer was on vacation; accordingly, collecting signatures and scheduling the work were difficult at best. Here’s where the lender’s time management and customer service skills came into play. We literally got the final approvals and signatures needed on the day of closing. Ordinarily, a lender would not produce documents for a buyer to sign without the completion of the repairs, and the collection of the signatures noted earlier. Using his creativity, foresight, and flexibility, our client’s lender went to bat for him. The lender was able to convince the bank that documents should be produced, and that the signatures and approvals needed would be produced by the date of closing. What sounds like a simple feat was in reality no small battle, and saved our client a mountain of frustration, not to mention rescheduling his Hawaiian vacation! If you are considering purchasing a home in the Portland area, please visit with us at www.RobLevy.com and talk with us about critical factors in your lender selection. We can refer you to a terrific lender, and take no bonuses or commissions for doing so. Again, your lender can make or break your transaction, and with The Rob Levy Team, your best interest is our number one priority!
This entry was submitted by Cathy Hill, Transaction Coordinator of the Rob Levy Team
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The Importance of a Great Lender

Tuesday, October 10, 2006
by Rob Levy, Prudential Northwest Properties
When given the opportunity, I educate our clients to select a lender based on a number of variables rather than simply based on rates and fees. In any transaction, from the simplest to the most complex, a lender can literally make or break the closing. There are multiple opportunities for a lender to show their range of services, the most critical of which include customer service and time management skills. It would be silly to ignore the importance of rates and fees, but time and time again we on The Rob Levy Team have seen how an initial dollar break can cost a client the equivalent or more in time, heartache, and frustration if their selected lender doesn’t follow through on their commitments.
 
Fortunately, we had the help of a terrific lender last week during what could have been a very frustrating transaction. There were a couple of critical repairs that needed completion prior to closing, and we were on a tight timeline. The transaction was further complicated because the seller was difficult to reach and the buyer was on vacation; accordingly, collecting signatures and scheduling the work were difficult at best. Here’s where the lender’s time management and customer service skills came into play. We literally got the final approvals and signatures needed on the day of closing. Ordinarily, a lender would not produce documents for a buyer to sign without the completion of the repairs, and the collection of the signatures noted earlier. Using his creativity, foresight, and flexibility, our client’s lender went to bat for him. The lender was able to convince the bank that documents should be produced, and that the signatures and approvals needed would be produced by the date of closing. What sounds like a simple feat was in reality no small battle, and saved our client a mountain of frustration, not to mention rescheduling his Hawaiian vacation! If you are considering purchasing a home in the Portland area, please visit with us at www.RobLevy.com and talk with us about critical factors in your lender selection. We can refer you to a terrific lender, and take no bonuses or commissions for doing so. Again, your lender can make or break your transaction, and with The Rob Levy Team, your best interest is our number one priority!
This entry was submitted by Cathy Hill, Transaction Coordinator of the Rob Levy Team
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Siding Issues Still Surfacing in Portland, Oregon area homes.

Tuesday, October 10, 2006
by Rob Levy, Prudential Northwest Properties
Last week I was meeting with a client about selling their home in the northwest area of Washington County, and I again ran into issues with LP (Louisiana Pacific) siding.  For those not familiar with these issues, starting about in the mid 80's several wood products manufacturers came out with "look alike" cedar horizontal siding substitutes to take the place of cedar.  These for the most part were man made particle board and glue combinations and looked great.  For various reasons, some - not all - of them started to delaminate causing rot and fungus to grow inside the siding, and the siding to fail.  In some cases there were class action lawsuits over several years amounting to several million dollars to settle these cases - yet I keep running into houses with the bad siding on them where the sellers never knew about the issue, or the claims.  
 
If you are thinking about selling a home in the Portland Oregon area in the near future, please do research this at our site under "Recommended Links" at www.RobLevy.com and check and see what type of siding you have, and if you need to deal with it.  If you are buying a home here, and we are representing your interests, be sure to get a full home inspection and talk to us about the siding issues.  If there are any concerns, we can get a siding expert to evaluate and suggest remedies for the home, whether that be residing the house, or treating what is already there.
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Siding Issues Still Surfacing in Portland, Oregon area homes.

Tuesday, October 10, 2006
by Rob Levy, Prudential Northwest Properties
Last week I was meeting with a client about selling their home in the northwest area of Washington County, and I again ran into issues with LP (Louisiana Pacific) siding.  For those not familiar with these issues, starting about in the mid 80's several wood products manufacturers came out with "look alike" cedar horizontal siding substitutes to take the place of cedar.  These for the most part were man made particle board and glue combinations and looked great.  For various reasons, some - not all - of them started to delaminate causing rot and fungus to grow inside the siding, and the siding to fail.  In some cases there were class action lawsuits over several years amounting to several million dollars to settle these cases - yet I keep running into houses with the bad siding on them where the sellers never knew about the issue, or the claims.  
 
If you are thinking about selling a home in the Portland Oregon area in the near future, please do research this at our site under "Recommended Links" at www.RobLevy.com and check and see what type of siding you have, and if you need to deal with it.  If you are buying a home here, and we are representing your interests, be sure to get a full home inspection and talk to us about the siding issues.  If there are any concerns, we can get a siding expert to evaluate and suggest remedies for the home, whether that be residing the house, or treating what is already there.
Add Comment

Displaying blog entries 11-17 of 17

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