Cute Little House Needs an Owner
Filed Under We've Seen This · Tagged:
Only $205,000
Stopped by this cute little two bedroom yesterday. Everything has been updated, lots of stone, hardwoods, fireplace, great landscaping. Just north of Powell Blvd. Someone should snap this up!
October 28, 2009 – Economic Report
Filed Under Economy · Tagged:
A summary of economic information compiled for your enlightenment by our Principal Broker, Tom Brock, MBA
·House Prices Stalling – ISI’s house price has stopped improving y/y and they expect it to tick down for a period of time. This is reflective of the expiration of the tax credit. However, the Case Shiller did tick up in August and September. This can be considered a shot in the arm for consumer balance sheets and may slow foreclosures if consumers feel they are not “under water.”
·Inventories across the country have been drawn down a record amount. This is all a part of cost cutting. Profits have increased and combined with lower corporate costs we have a powerful engine for economic growth over the next 4 quarters.
·Very Complex Economic Outlook – Normally from a recession this deep, you will see massive growth in the first 4 quarters of recovery. This is unlikely to happen this time around. However, 2% growth in 2H of this year and 4% overall next year do seem likely. This is enough to create employment, at least to a limited degree. Housing and auto sales have not shown the sustainable recovery that many people expected; however, chain store sales are much stronger than expected and real consumer spending in Q3 rose at a strong rate. Corporate profits are better than expected. Unemployment claims are declining and employment is poised to grow soon. Capital spending is stronger than expected. Foreign economies are clearly improving. This is a positive sign for the US especially considering the weak dollar and its effect on exports.
Again, an unprecedented global recovery is likely to drag a sluggish US economy into a sustainable recovery. Taiwan and HK imports are up considerably. This indicates a booming Chinese economy that is driving consumer activity. China’s industrial output may rise 16% in Q4. On the flip side, this will drive O&G consumption which could fuel inflation in the US or stagflation if our GDP does not continue to grow…
Another South Tabor Home Under $250,000
Filed Under Listing · Tagged: South Tabor, Southeast Portland Homes for Sale
SOLD 2 bedrooms, 1 full bath, fireplace, full basement and a detached 1-car garage. house tour
7055 SE Brooklyn St
5827 SE Woodward St – $249,950
Filed Under Listing · Tagged:
SOLD South Tabor - 3 bedrooms, 2 full baths and an attached 2-car garage. house tour
5827 SE Woodward St
7 Things NOT To Do When Buying A Home
Filed Under Home Buyer and/or Seller · Tagged:
Don’t buy or lease an auto
Lenders look carefully at your debt-to-income ratio. A large payment such as a car lease or purchase can greatly impact those ratios and prevent you from qualifying for a home loan.
Don’t move assets from one bank account to another
These transfers show up as new deposits and complicate the application process, as you must then disclose and document the source of funds for each new account. The lender can verify each account as it currently exists. You can consolidate your accounts later if you need to.
Don’t change jobs
A new job may involve a probation period, which must be satisfied before income from the new job can be considered for qualifying purposes.
Don’t buy new furniture or major appliances for your “new home”
If the new purchases increase the amount of debt you are responsible for on a monthly basis, there is the possibility this may disqualify you from getting the loan, or cut down on the available funds you need to meet the closing costs.
Don’t run a Credit report on yourself
This will show as an inquiry on your lender’s credit report. Inquiries must be explained in writing.
Don’t attempt to consolidate bills before speaking with your lender
The loan officer can advise you if this needs to be done.
Don’t pack or ship information needed for the loan application
If you are relocating, important paperwork such as W-2 forms, divorce decrees, and tax returns should not be sent with your household goods. Duplicate copies take weeks to obtain, and could stall the closing date on your transaction.
This information was made available by Bruce Howard, Landover Mortgage, phone: 503-201-2083 brucehoward@landovemrortgage.com
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