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Beaverton, OR Real Estate News

One of the ways people get into trouble and lose so much money is they wait to long before seeking help with the sale of their home. If you know you are starting to get into trouble with your payments, this is the time to call an experienced agent that can help you avoid a possible foreclosure.The reason waiting to long can cost so many home owners most, if not all of their equity is because of all the late fees that the bank imposes cuts right into that equity. Also as you get closer and closer to the date the bank says they will foreclose on your property, the less and less you can charge because you have to sell your home quicker to avoid the actual foreclosure.If you have only missed one payment, this is the time to get your home on the market or re-finance your home. If you do it b...
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By Todd Clark - Retired, Principle Broker Oregon
(eXp Realty LLC)
A lot of young couples were taught by their parents that the only way to freedom is through home ownership. Their parents were right! The only problem is banks won't lend to someone without a very long work or credit history. There are other problems that can affect someone getting a home through a traditional bank. Divorce, Child Support or a Judgment can all affect you getting in to a home.This doesn't mean you can't get into a home, it just means you need to be more creative about financing it. Many home owners that I work with offer owner-financing, meaning they act as the bank and they don't have the overhead a bank has. This means they can charge you sometimes less than a bank would and they don't have to don't care what your credit score is! All a bank cares about is what your cr...
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Why do most investors leave real estate within 1 to 2 years and then just give their investment property away for 60-70% of what they bought it for? The main reason is volume and that is why so many big time investors love to see the little guy get out of investing...They get a steal of a deal!What are some of the pitfalls that a first time investor fall into that cost them thousands? The first time investor usually goes and buys a property though their Realtor that they bought their home through. This is usually mistake number one, because their agent understands buying a home for residential purposes and doesn't understand investing home purchasing. They are two completely different home purchases and if you don't know what you are doing it can cost you the investor, thousands! Anothe...
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By Todd Clark - Retired, Principle Broker Oregon
(eXp Realty LLC)
                                                               What do you mean curb peel? It finally happened, a client didn't understand what I said on the phone. After two days she called me back and asked what I meant. I told her to look up online and read a couple of my blogs on "Curb Appeal" and search the web for articles that could also help her find inexpensive ways to increase her home's value. She called again and she said she just couldn't find it and wondered if I could e-mail her the article. When she received the article, she called me and said "I am so embarrassed, I mis-understood." Lawn mowing, new paint - OH Curb Appeal! But, we had a good laugh and her house looks great now - She just couldn't find "Curb Peel" when she searched Google. 
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By Todd Clark - Retired, Principle Broker Oregon
(eXp Realty LLC)
Are you a jaded real estate investor? Did you buy that rental with dreams of never having to work again and living on an island? At first that rental property looked great, for six months you were getting rents on time, the home looked wonderful and your mortgage was being paid by someone else every month. Then came that day the first rental check didn't show and you call the tenant to see what is going on and their phone has been disconnected. You drive to the house and it has been thrashed and you don't even recognize it. Your first thought is where did all my profit go and how am I going to pay for this to be fixed up?There are three things you can do right now. One is fix up the property and find a new renter and start the whole process over again and cross your fingers that it does...
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By Todd Clark - Retired, Principle Broker Oregon
(eXp Realty LLC)
Even if you know how to get the great deals as an investor you will from time to time make a mistake. But, that doesn't mean it has to cost you thousands of dollars. One mistake I see in real estate investing is not calculating the cost of repairs correctly on a fixer up property. That doesn't mean you have to lose your shirt in the deal. With the proper guidance from an experienced Realtor who deals in investment properties they can help you recoup your losses even on the worst calculations.One suggestion is to do a lease option for two years and this can increase your asking price by 5% over current market values. Then you also have made an additional $100-$200 per month from the lease above and beyond your mortgage payments and at the end of the two years with the help of a 1031 exch...
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By Todd Clark - Retired, Principle Broker Oregon
(eXp Realty LLC)
Are you about to start looking for a home? Stop! I know as a Realtor, I should be saying lets go find you a home today. My advice to you is talk to your Realtor long before you really want to start the search and ask them what you need to do to help the entire process go smoothly.My first suggestion is to get a copy of your credit report. Did you know 47% of all credit reports have some kind of mistake on them? It can take up to 90 days to get any errors fixed. One mistake on your credit report can cost you upwards of $100-$200 a month in interest payments.Once you have made sure your credit report is clean, it is now time to call those mortgage brokers that you got from your trusted Realtor and get that great mortgage rate and a pre-approval letter. This way you know exactly how much h...
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By Todd Clark - Retired, Principle Broker Oregon
(eXp Realty LLC)
The foreclosure process represents three bargain-buying opportunities.      Pre-Foreclosure (NOD, LIS): Buying a property in pre-foreclosure involves approaching the borrower/owner and offering to buy the property. The borrower/owner can walk away with something to show for any equity in the property and avoid a bad mark on his or her credit history. The buyer has time to research the title and condition of the property and can realize discounts of 20-40 percent below market value.     Auction (NTS, NFS): If the loan is not reinstated by the end of the pre-foreclosure period, potential buyers can bid on the property at a public auction. Buyers often are required to pay cash at the auction and may not have much time to research the title and condition of the property beforehand; however,...
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By Todd Clark - Retired, Principle Broker Oregon
(eXp Realty LLC)
There are two types of landlords in the world. New landlords and landlords ready to get rid of their property out of frustration. If you can find a landlord that has a fixer up rental you can buy these properties once they go vacant for as little as fifty cents on the dollar. They have no income coming in on the property and they now are told they need to spend thousands to fix it up to make it livable. You then can buy the property, rehab it and then lease option it on a two year contract.The two year contract is very important to the process of buying rehab properties and making money. The reason it is so important is because you own the property for two years and then you can do a 1031 exchange without penalty and buy other fixer up properties with the profits.You can sometimes lease...
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By Todd Clark - Retired, Principle Broker Oregon
(eXp Realty LLC)
14130 SW Furlong Way, Beaverton, OR This is the one, welcome home! 2 Bdrm Single Family House offered at $249,900 Year Built 1960 Sq Footage 919 Bedrooms 2 Bathrooms 1 full, 0 partial Floors 1 Parking 2 Car garage Lot Size .24 acres HOA/Maint $0 per month DESCRIPTION This is the one, welcome home! Lives large, great open floor plan. Move in ready, beautiful hardwood floors, custom wood work, tons of natural light, vinyl windows, central air, water filter, a must see! Wonderful fenced yard with covered patio, ready to BBQ? Beaverton Home   PROPERTY FEATURES Living room Office/Den Balcony, Deck, or Patio COMMUNITY FEATURES Garage parking       Equal Opportunity Housing Posted: Apr 12, 2007, 8:55pm PDT  
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By Todd Clark - Retired, Principle Broker Oregon
(eXp Realty LLC)
There are three ways to make money in the condo conversion market. The first thing you need to understand is what a condo conversion is and how it works.A condo conversion is done two ways. The first way takes an old apartment complex and goes through the steps of setting up an HOA and CC&R, getting the tax ID's, brings them up to code and converts them to individual condo units. The second is taking a complex that was built as a condo unit, but became apartments because the market wasn't ready for condos. Each unit is then individually updated and put the market. Usually what happens is the conversion takes about a year from the purchase of the building to the sale of the first unit and then it can take another year for all the units to be updated and sold on the open market.OK, now fo...
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By Todd Clark - Retired, Principle Broker Oregon
(eXp Realty LLC)
What is a 1031 exchange and why do I need it? If you an investor and don't know the answer to these questions, then pay attention, it could save you thousands on your taxes.A 1031 exchange is a way for you to sell a property that has had a capital gains increase since you bought it, then you can take the equity from that property and apply it to a investment property of equal or greater value, without having to pay tax on the capital gains until you sell the property. The key is the property has to be of like-kind, whether selling rentals, vacation property or farm land. There are other types of 1031 exchanges where you can actually do exchanges on farm equipment, but since this article pertaining to Real Estate, I won't be going in to that today.The first great example of this is, you ...
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By Todd Clark - Retired, Principle Broker Oregon
(eXp Realty LLC)
I understand you want to live in a nice neighborhood with no crime, but I can't tell you that. (No matter how many times you ask)There is a reason I can't, the law written under the fair housing act says that I can't steer a client to a certain area. The law states that my job is to find you a home that fits the description. If I find that home, I will show it to you and please don't get mad at me for not looking at the neighborhood.  I can't tell you if a home is in a bad area with high crime or is in a highly religious area of town. But, if that is something that matters to you, then you need to search the net and make calls to local agencies to find the answers to your questions.Here are the websites you can check out...BUT PLEASE STOP ASKING ME      "IS THAT A NICE AREA OF TOWN?"Bes...
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By Todd Clark - Retired, Principle Broker Oregon
(eXp Realty LLC)
When you walk in to a lot of houses today do you notice there are no lights in the living room or family room?  Why is this? It was original done to save money on wiring and permits in a lot of homes. What the builder wanted you to do is put lights in the corner that plug in for mood lighting. The only problem is that it makes the rest of a room very dark and when you go to sell a home a dark room looks smaller. What I suggest is either put in a ceiling fan with very bright lights (if the ceiling is high enough) or put in a modern looking light in the middle of the ceiling. The lighter and brighter the home the easier it will be to sell.Natural light can also be a way to brighten up a room with out having to install electric wires in the ceiling. If you need to redo a roof, this is also...
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By Todd Clark - Retired, Principle Broker Oregon
(eXp Realty LLC)
Q: "Why is my friend'scredit score so much higher than mine? We make the same amount of money." This question was asked of me lastweek by one of my buyers and it made me realize that if one person wasasking it, more people would like to know the answer.This was my answer to those buyers and I hope it helps you with your credit score and understanding.A: There is no simple answer, a credit score is made up of numerous mathematical factors there is no one thing that they did that made there score better, it is usually a life altering family decision and with time their score has risen. I then gave them a list of a few things that could increase their score over time, but there is no quick fix. (There are, but notall ethical)Hereis that list of helpful hints to raise your score over time.1...
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By Todd Clark - Retired, Principle Broker Oregon
(eXp Realty LLC)
Do you own a fixer property and want to sell, but don't think you can get what you need out of it? You have two options. One is you can spend thousands and fix it up yourself, but if you need money out of the sale, then more than likely you don't have the money to fix up the property. The second way is the way to net you 10-15% above the present appraisal value without spending any more money.I work with investors that love fixers, but they need to make money on the property. The only way to do that is if once they fix up the property it can sell for more than they put in to it. When most investors purchase a fixer property they think about how much it is going to cost to fix up and not how much it is going to cost to re-sell it or how much they are paying in monthly mortgage while they...
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By Tony and Libby Kelly, CRS, ABR, ePro, SRES, CLHMS, CDPE
(Keller Williams Realty Portland Premiere)
Beaverton February Real Estate ReviewPrevious Month's Average Sales Price: $285,300Year-to-Date Average Sales Price & Appreciation: $281,400, 11.2%.February 2007 seems to follow the same trend we've seen for the last few months with new listings up and pending and closed sales down. However, pending only dipped slightly when compared to the same time last year. Further inventory is down compared to last month. The 9,901 active residential listings at the end of February would last approximately 5.2 months at the month's rate of sales. When compared with the month of February 2007, the number of new listings increased 22.3%. Closed sales decreased 6.8% and pending sales fell 0.4%. Year to Date When comparing market activity for January-February 2007 to the same time in 2006 we see that t...
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By Todd Clark - Retired, Principle Broker Oregon
(eXp Realty LLC)
Is this your agent? It doesn't have to be. The key isn't the agent you are using; it is the way you and your agent communicate. The key to the home buying experience is to be educated before you even go out for the first time with your agent.The problem most of the time is agents get frustrated when they feel like they are being used as a taxi service. Yes, this is partially their fault for not educating you the buyer. If you are educated, you can find your dream home within 5-10 homes max. But, you also need to educate your agent at the same time.Sit down with your agent. Tell them your expectations of what you are wanting in a home. Make a list of wants and needs and give that to your agent. This list will make sure you get the needs you have to have in a home and the wants are bonuse...
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By Tony and Libby Kelly, CRS, ABR, ePro, SRES, CLHMS, CDPE
(Keller Williams Realty Portland Premiere)
Fantastic Beaverton CondoSuper clean and neat, brightly lit end unit condo in great condition! Excellent first floor corner location overlooking the courtyard. Builder's warranty incl. Large mstr. w/walk in closet & private bath w/double sinks & soak tub. Double French doors to second bedroom. Great room floor plan. In a new village community with lake, park, restaurants and New Seasons grocery coming. Resale Condo $218,000 Address: 14740 SW Sandhill Loop City/ST: Beaverton, OR Zip Code: 97007 Bedrooms: 2 Bathrooms: 2 full, 0 half Square Footage: 1139 MLS# 7021700 For additional photos and details visit http//:www.TonyandLibby.comor call 1-800-395-1151 code 616 for 24 hr recorded information This listing is brought to you courtesy of the Tony and Libby Kelly Group, Keller Williams Realt...
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By Tony and Libby Kelly, CRS, ABR, ePro, SRES, CLHMS, CDPE
(Keller Williams Realty Portland Premiere)
Better Than New Beaverton, OR CondoThis super neat and clean home is a brightly lit end-unit with video and network upgrades. The master bedroom is large with a walk-in closet and private bath. You'll find double sinks there as well as a soak tub. There are 2 wall unit air conditioners and zonal heating. The kitchen/greatroom floorplan makes this home an entertainers delight. This is simply a MUST SEE! Shows better than a model home. The furniture, appliances and art are included in the sale for an additional $18,000.00. Resale Condo $227,000 Address: 14700 SW Sandhill Loop #201 City/ST: Beaverton, OR Zip Code: 97007 Bedrooms: 2 Bathrooms: 2 full, 0 half Square Footage: 1182 MLS# 7006739 For additional photos and details visit http//:www.TonyandLibby.comor call 1-800-395-1151 code 603 ...
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