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It is getting close to that time of year when property tax statements will be sent to homeowners.  Oregon has a confusing tax schedule and I was recently asked about our property taxes and pro-rates, something you should know if you will be selling your home soon.

Real Property Taxes

Property taxes in Oregon are based on a fiscal year of July 1st through June 30th. Real property taxes are a lien as of July 1st, but are not payable until the County has certified its tax rolls.  Taxes are usually certified in October.

Taxes are considered current if paid in increments of 1/3 as follows:

  • DUE AND PAYABLE ON NOVEMBER 15: for the months of July, August, September and October
  • DUE AND PAYABLE ON FEBRUARY 15: for the months of November, December, January, and February
  • DUE AND PAYABLE ON MAY 15: for the months of March, April, May and June

The Title Company/Escrow will handle the pro rates as to what is owed back to the seller and what a buyer will owe in real property taxes.

PRORATES

Proration is a method of making an equitable adjustment between two or more parties on any items, such as property taxes, which have been prepaid by one of the parties.

If a seller pays his taxes in full on November 15 and sells his property on March 1st, the seller is entitled to a reimbursement from March 1st through June 30th, the last day of the fiscal year.

If however, prorating between July 1st and the date taxes are certified, the only figure available is the prior year’s taxes.

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are low and there is still buyer demand. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  Or check out my website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2019. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Below is information you need to know if you own rental property within the State of Oregon and the City of Portland as written and provided by: Kevin A. Eike, JD Attorney at Law – 9830 SW MCKENZIE STREET, TIGARD, OR WWW.KEVINEIKE.COM/WWW.EIKELAWPC.COM

The new laws are not for the faint at heart.  As a landlord and/or tenant you need to know your rights.  If in doubt, I suggest you contact the author of this post or a real estate attorney.

Oregon Senate Bill 608

• No Cause Evictions
• Fixed Term vs. Month to Month Tenancy
• Rent Increases
• City of Portland

SENATE BILL 608

• Oregon is now the first state to enact state wide rent control
• What SB 608 doesn’t impact:
• Termination of month to month or fixed term tenancies in first year (except Portland and
Milwaukie ordinances which require 90 day notice)
• For cause eviction rules
• What SB 608 does impact
• Termination outside 1 year
• No cause evictions
• Rent caps

Oregon Landlord Tenant Act ORS Chapter 90

• Jurisdictions Requirements
• Landlord Rights
• Tenant Rights

OREGON LANDLORD TENANT ACT ORS CHAPTER 90

• Jurisdictional Requirements/Exclusions
• Applies to “dwelling units” including homes, apartments, ADU’s, floating homes, RV
• Does not apply to:
Medical, geriatric, educational, counseling, religious etc. (includes drug and alcohol)
• 90 day or less occupancy as part of a sale “rent back”
• Fraternal or social organization
• Hotels/Motels
• Squatters
• Vacation
• Occupancy by employee if conditional on employment
• Agricultural occupancy

LANDLORD RIGHTS

• Screening
• Crimes (drug related, person crime, sex offense, financial fraud, any other crime if is of nature that
would adversely affect property, health, safety, or right to peaceful enjoyment of landlord or
tenants.
• Cannot consider FED actions resulting in dismissal or more than 5 years old
• Receive prompt rent payments
• Charge security deposit
• Clean, sanitary and free from debris, rodents, vermin, garbage
• Tenant behave and require other persons in a manner that will not disturb use and
enjoyment by neighbors.
• Tenants keep all plumbing as clean as condition permits
• Use electrical, plumbing, HVAC, elevators, and other facilities in a reasonable manner

TENANT RIGHTS

• Written Lease clearly outlining terms which comply with Landlord Tenant
Act and SB 608
• Non discrimination/retaliatory eviction
• Within 31 days or termination, receive written accounting for security
deposit
• Companion animal without pet deposit
• Good faith
• Habitable (no leaks, no mold, working electrical, water, and heat.)

NO CAUSE EVICTIONS

• 5 exemptions from prohibition of evictions for no cause after year 1 of occupancy (90 day notice
and 1 month rent required)
• To demolish or convert to non residential use
• Repair or renovate dwelling unit that is unsafe or unfit for occupancy
• Move in landlord or immediate family member
• Landlord has accepted offer to purchase property from someone who will occupy as residence
• If landlord lives in same property with 2 or fewer units, 60 day notice
• Notice requirements (month to month tenancy)
• First year of occupancy- 30 days
• After first year for exemptions 1-4, 90 days and pay 1 month rent
• After first year for exemption 5, 60 days notice

FIXED TERM RULES AND NOTICE

• Fixed term tenancies no longer expire under their own terms require SB 608 notice,
automatically become month to month unless parties agree to new fixed term
• Within first year (statewide), 30 day notice before expiration
• Within first year (Portland), 90 day notice + relocation expense unless landlord
notified of intent to sell or convert to non dwelling unit prior to lease.
• After first year (statewide), automatically becomes month to month, must fit into
exemption 1-4 above, 90 day notice and one month rent.
• After first year (Portland), if exempt under state law, still have to pay relocation
expense.

THREE STRIKE RULE

• Fixed term tenancy does not automatically renew if tenant violates rental agreement 3 or more times
• Landlord must give written warning each time specifying the violation, stating landlord may terminate the agreement with 3 violations, and tenant cant cure 3rd violation.
• Landlord gives 90 day notice with 3rd violation letter
• No relocation payment required
• Portland: No such exemption

PENALTIES

If Landlord violates and terminates in violation of new rules, 3 months rent, actual damages, attorney fees, costs, disbursements.

RENT INCREASES

• Landlord may not increase rent by more than 7% plus CPI (3.3%) in 12 month period subject to 2
exemptions:
1. New buildings (first certificate of occupancy is less than 15 years from rental agreement
2. Government subsidy reduced rent cases.
• Portland: Landlord may not send a notice of rent increase of 10% or more without triggering relocation
assistance

NOTICE REQUIREMENTS

• 90 days notice
• Amount of increase
• Amount of new rent
• Effective date
• Landlord has exemption and will increase above cap, facts supporting exemption.

RELOCATION ASSISTANCE

• City of Portland
• No cause evictions
• 5 exemptions
• Rent increase of more than 9.99%
• Substantial change in lease terms
• Renter receives no option to renew

EXEMPTIONS TO RELOCATION ASSISTANCE

• Rental agreement for week-to-week tenancies
• Tenants that occupy the same dwelling unit as the landlord
• Tenants that occupy one dwelling unit in a Duplex where the Landlord’s principal residence is the second Dwelling Unit in the same Duplex
• Tenants that occupy an Accessory Dwelling Unit that is subject to the Act in the City of Portland so long as the owner of the Accessory Dwelling Unit lives on the site
• A Landlord who temporarily rents out their principal residence during an absence of not more than 3 years
• A Landlord who temporarily rents out their principal residence during the Landlord’s absence due to active duty military service
• A Dwelling Unit where the Landlord is terminating the Rental Agreement in order for an Immediate Family member to occupy the Dwelling Unit
• A Dwelling Unit regulated or certified as affordable housing by federal, state or local government is exempt from paying Relocation Assistance for a Rent increase of 10 percent or more within a rolling
12-month period:
a. so long as such increase does not increase a Tenant’s portion of the Rent payment by 10 percent or more within a rolling 12-month period; or
b. in Lease Agreements where the Rent or eligibility is periodically calculated based on the Tenant’s income or other program eligibility requirements and a Rent increase is necessary due to program
eligibility requirements or a change in the Tenant’s income.
This exemption by Subsection 30.01.085 I.8. does not apply to private market-rate Dwelling Units with a Tenant who is the recipient of a federal, state, or local government voucher;
This exemption by Subsection 30.01.085 I.8. applies to Rent increases and does not apply to Termination Notices;
• A Dwelling Unit subject to the federal Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970
• A Dwelling Unit rendered immediately uninhabitable not due to the action or inaction of a Landlord or Tenant
• A Dwelling Unit rented for less than 6 months with appropriate verification of the submission of a demolition permit prior to the Tenant renting the unit
• A Dwelling Unit where the Landlord has provided a Fixed Term Tenancy and notified the Tenant prior to occupancy, of the Landlords intent to sell or permanently convert the Dwelling Unit to a use other
than as a Dwelling Unit subject to the Act.

EXEMPTION REQUIREMENTS

• A Landlord is only exempt from paying mandatory Relocation Assistance if the Landlord meets the
following requirements:
• meets the criteria for an exemption listed in administrative rules;
• file the required Relocation Exemption Application (“REA”) form with the Portland Housing Bureau (“PHB”)
• receive an acknowledgment letter from PHB (the “Acknowledgement Letter”)
• Provides a copy of the exemption Acknowledgement Letter to the Tenant prior to:
• a. Issuing an Increase Notice;
b. Issuing a Termination Notice;
c. Declining to renew or replace an expiring Rental Agreement;
d. Issuing a Qualifying Landlord Reason for termination; or
e. Declining to renew or replace an expiring Rental Agreement on substantially the same terms except for the amount of Rent or Associated Housing Costs.

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are low and there is still buyer demand. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  Or check out my website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2019. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Looking over my transactions from the past several years, I have found that 90% of all my listings and/or sales have had issues with sewers. Many of those sales have had at least 1, 2 or even up to 3 sewer bellies.

WHAT IS A BELLY?

A sewer line belly, sag, or low area, can be identified by a pipe holding water after flow has stopped AND after other causes of pooling water such as debris build up and channeling have been ruled out.

Sewer line bellies or low areas become problems when debris collects and causes a blockage or backup.

Photo Credit: Pipelining Technologies, Inc.

Many homeowners give little thought to the intricately installed sewer lines extending from their home to the main municipal sewer collection lines.

The homeowner’s sewer lines move waste, such as dishwater and toilet refuse, down pipes for eventual treatment and disposal. However, anomalies along the sewer line, such as bellies, can cause sewage problems for the homeowner.

Tree roots can cause a couple of problems for your sewer lines – they can grow into the pipes and cause holes and blockages or they may wrap around your sewer line and crush the line. All the sludge and debris could flow back into the house should there be blockage and/or a belly.

Also, grease is a pipe’s worst enemy.  Many homeowners casually pour their old, used grease from cooking down the drain.  This is the worst thing you could do.  That grease will eventually turn solid which creates a blockage in your pipes.

SEWER SCOPE WHEN BUYING

I recommend to all my buyers when purchasing they have a sewer scope inspection. It costs around $100 for a sewer scope (costs may vary with different companies) but it is an insurance against future costly repairs.  A camera is used to detect any damage from inside the house and the outside of the property.

WHO PAYS FOR SEWER WORK?

This depends where the bellies are located.  If the bellies are located on the property, the homeowner is responsible.  When purchasing a home, after a sewer scope is performed and shows bellies, those type of repairs should be negotiated with a seller.  If the belly is on City, County or another municipalitie’s property, they should be contacted for repair.

SEWER REPAIRS

The best case scenario is to have the sewer pipes lines replaced.  However, some homeowners are opting to have their sewer lines hydro jetted instead at a much lower cost. Sewer line replacement can be quite costly running into the thousands of dollars.

The principle of hydro-jetting sewer lines involves the use of extremely high-pressure water to obliterate blockages. Threaded deep into the sewer pipe at the end of a thin, flexible water line, the head contains tiny jets that dispense hot water at knife-like pressure up to 4000 p.s.i.

Hydro jetting is similar to power washing to clean dirty and clogged pipes. It uses streams that are as strong as 60,000 PSI to dislodge and carry away the debris.  Hydro jetting has proven to be significantly effective in residential housing by removing silt within home plumbing pipes.

HOW OFTEN SHOULD SEWER LINES BE CLEANED?

Plumbing experts say as a good preventive measure, you should have your sewer lines cleaned every 18-22 months.  If you are experiencing problems more often than that, you may need to call a plumber and schedule a sewer scope of your pipes.

A sewer repair may be something that you as a homeowner or homebuyer will be facing.  However, one of the only ways to determine if there is an issue in your sewer line is to pay for a sewer scope.

With our aging housing supply, it will not be unusual to see more sewer bellies.  In fact, the house doesn’t even have to be very old to find blockages.  There have been several sales that I have had where the homes were not that old.

Don’t wait until costly repairs are needed.  If you think there may be an issue with a sewer line, get it taken care of sooner rather than later.  I recently had an inspection of my own sewer line and had no damage.

Photo Credit: Pipelining Technologies, Inc.

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are low and there is still buyer demand. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  Or check out my website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2019. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

OREGON RENT CONTROL

The Oregon House has approved new eviction protections and a first-in-the-nation statewide rent control policy. The legislation will be signed by Oregon’s Gov. Kate Brown and takes effect within 5 days once the Governor signs.

With Brown’s signature, Oregon is the first state to enact a statewide rent control program. In other states with rent control policies, cities enact and administer local programs.

The bill caps annual rent increases to 7 percent plus inflation throughout the state. It exempts new construction for 15 years, and landlords would be free to raise rent without any cap if renters leave of their own accord. Subsidized rent would also be exempt.

Backers characterized the bill as unlike the rent control policies common in some of the nation’s most expensive housing markets and dimly viewed by many economists

Studies have found those policies can be effective in reducing displacement of current tenants but result in a reduction in rental housing units and higher rents for new renters.

Democratic leaders have described their bill as an anti-price gouging measure that offers landlords and developers much more flexibility than policies elsewhere.

“This is not the rent control of yesteryear,” said Rep. Mark Meek, D-Clackamas County. “It’s a smart, innovative hybrid.”

But opponents said it would slow investment in housing, adding to the rental shortage that’s contributed to rising rents in the first place.

“With the growing cost of our property taxes, insurance and maintenance, the incentive to add rentals will decrease,” said Rep. Jack Zika, R-Redmond. He suggested it’s likely the restrictions would increased once in place, and that prospect could further drive disinvestment. “Why would anyone invest in a state if the Legislature is prone to tighten restrictions?”

The vote was split mostly along party lines, with three Democrats breaking ranks to vote “no.”

The bill keeps in place the state’s ban on cities implementing their own more restrictive rent control policies, which was passed by the Legislature in 1982 in response to several local rent control pushes.

Senate Bill 608 also requires most landlords to cite a cause, such as failure to pay rent or other lease violation, when evicting renters after the first year of tenancy.

Some “landlord-based” for-cause evictions would be allowed, including the landlord moving in or a major renovation. In those cases, landlords would have to provide 90 days’ notice and pay one month’s rent to the tenant, though landlords with four or fewer units would be exempt from the payment.

In a hearing earlier this month, renters from across the state told lawmakers about how evictions and big rent hikes had affected them.

Tigard resident Gloria Pinzon told lawmakers that she was on track to buy a house when a rent increase followed months later by a no-cause eviction wiped out her savings.

“This happened to me about two months after I’d recently gotten employment after graduating from college,” Pinzon said. “If this had happened to me months before, I don’t know what would have happened to me and my family.”

Landlord groups had mixed views on the legislation, with some taking a neutral stance and others staunchly opposed.

But many landlords told lawmakers they felt unfairly targeted by the bill. They said the bill could drive Oregon landlords out of the business, worsening the housing shortage.

“We really do have a supply issue, and that can’t be ignored,” said Terry Luelling, a Bend rental owner. “Most of those laws are born right here in this building, in the overly restrictive land use.”

Other bills attempt to add to the supply of housing. They include policies that would allow more density in residential neighborhoods, as well as new funding for subsidized affordable housing and initiatives to speed such projects through their development approvals.

Here is the link to Senate Bill 608

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are are still low and there is still buyer demand. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2019. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

bettyjung.comThere has been a lot of discussion in my Facebook groups about the recent changes to the FIRPTA Law in Oregon.  Looking over all my blog posts, I realize I have never posted any information about it here, although I have written about it in my Jung’s Journal – Real Estate Newsletter, to my clients. Starting January 2019, there have been some changes made within Oregon when you are buying or selling real estate in regards to FIRPTA.

What follows is a summary from Phil Querin, Querin Law, LLC, to give you some more information/background.  Check with your real estate agent, or me, in addition to your title company regarding what needs to be done whether buying or selling your home.

FIRPTA Oregon & IRS LAW

A Wrong-Headed Law? Most people have never heard of the Foreign Investment in Real Property Tax Act, commonly known as “FIRPTA” – unless they have been involved in the “disposition” (i.e. sale/purchase) of U.S. real property from a “foreign person”.

The FIRPTA law says that if the seller is a “foreign person”, the “transferee” – i.e. the buyer, is the “Withholding Agent” that is legally responsible for collecting the tax and forwarding it to the IRS. Any lay person could be forgiven for thinking it is wrong-headed to make the buyer responsible for their seller’s tax liability. But this has been the law for nearly 40 years. And that’s not all. The IRS says:

In most cases, the transferee/buyer is the withholding agent. If you are the transferee/buyer you must find out if the transferor is a foreign person. If the transferor is a foreign person and you fail to withhold, you may be held liable for the tax.

Huh? It’s true! The premise is that the seller may not be in the country at the time of closing, or may be long gone by the time the IRS finds out.  So while this may sound harsh, it’s likely the only way to administer a law that attempts to tax foreign nationals when they dispose of U.S. real estate – short of having an IRS agent attend every real estate closing.

FIRPTA Primer.  What follows is the Readers Digest version of FIRPTA.

  1. The Withholding Requirement will not apply, even if the seller is a “foreign person” if (a) the purchase price of the property does not exceed $300,000; and (b) The property will be occupied as a residence by the buyer (who is an individual or a member of the buyer’s family) (iii) for at least 50% of the number of days (excluding days the property is vacant) it is used by such person during each of the first two 12-month periods following the date of closing;
  2. The Withholding Requirement is ten percent (10%) of the purchase price when the seller is a “foreign person” and the purchase price is over $300,000, but less than $1,000,000, and (1)(b) and (c) above apply; and
  3. The Withholding Requirement is fifteen percent (15%) of the purchase price when the seller is a “foreign person” and the purchase price is over $1,000,000, or the purchase price is $1,000,000 or less, and Seller does not qualify for any of the exemptions in (1) or (2) above.

The “What Ifs?”  So how does one go about determining if the seller is a “foreign person”?  If the seller is an individual, the easiest way is to ask for their social security number. If the seller is a business entity, you can ask for the employer identification number.

  • But what if the seller declines to turn over their social security number of EIN to their buyer? In the Oregon statewide sale agreement form, the seller affirmatively represents that they are not a foreign person. And the RMLS™ includes a place for a seller to declare whether they are, or are not, a foreign person. So isn’t that good enough? No.
  • What if the seller gives me a social security number that is bogus? Am I protected against failing to withhold, since the seller conned me? Not really.

The FIRPTA Affidavit. The only fail-safe protection is to have the seller sign a “FIRPTA Affidavit” – also known as “Affidavit of Non Foreign Status”. This simple form, containing a certification under oath that the seller is not a “foreign person” and disclosing the transferor’s name, U.S. taxpayer identification number and home address (or office address, in the case of an entity), will insulate the buyer so long as the buyer does not have actual knowledge that it is untrue, i.e. that the seller is a “foreign person”.  (Note that the buyer’s real estate agent can be held liable to the extent of their commission if they have actual knowledge that the seller is a foreign person, and there has been no withholding.)(Go to this link for sample Affidavit form.)

The more complicated issue with the Affidavit is retention; who is to hold it for the required 5-year period?  Since it contains the seller’s social security number (or employer identification number), sellers are understandably reticent to permit their buyer to have this information, for fear of it getting into the wrong hands and resulting in identity fraud.

In an effort to address the issue, a law was enacted to permit someone other than the buyer hold the Affidavit. Thus, was created the “Qualified Substitute” rule, which contemplated that the title company or attorney closing the transaction would serve in that capacity.[5] However, in Oregon at least, several title companies quietly demurred, leaving the task to the buyer.  This may be changing, however, and more companies have recently been coming around, as they see the competition promoting their services as a Qualified Substitute.

Buyer Tip.  If there is any concern about whether FIRPTA could apply to your transaction, make sure your title company will serve as the Withholding Agent to pay the mandatory tax to the IRS (if FIRPTA applies), or serve as the Qualified Substitute (if it does not apply).  

Source: Phil Querin

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are are still low and there is still buyer demand. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2019. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Did you know as real estate agents within our MLS (RMLS™) we have access to a property’s listing and sale history.  Not only can we view how long a property has been on the market, how many times it has been on the market, how many price reductions occurred, and what a home eventually sold for and when.

WHAT IS CDOM?bettyjung.com

Cumulative Days On Market (CDOM) is calculated for listings in the same county that share tax IDs and have an off-market date and will appear in the listing’s history reports next to the DOM (days on the market) field.

When a property was listed, went off the market, was later relisted and went off the market again. The period of time after a property goes off market and is relisted is called the off-market gap. Anytime the off-market gap is less than 31 days, CDOM adds the number of days the first listing was on the market to the amount of time the second listing was on the market. However, the amount of time a property was in the off the market gap (not listed in RMLS™ under 31 days) will not be calculated into CDOM.

Even in today’s hot market; yes, we are still in a sellers’ real estate market in our metro Portland areas, it is still important to take a serious look at what price you will be asking for your home.

Over pricing is more damaging to a seller than under pricing. The total time a home has been on the market tends to stigmatize a property and price reductions give the impression a seller is becoming desperate, not reasonable.

HISTORY OF A LISTING

Looking at the history of a home while it was in the RMLS™ helps buyers determine what price they might want to offer a seller.  As sellers, you can see what your neighbor’s, or comparable homes’ histories have been, to help you with your pricing.

The home up the street may appear to have sold in the blink of an eye, yet looking at that home’s history in RMLS™ may tell you a completely different story.  The history of a listing can tell you a lot about a property and a seller.

Thinking of Selling Your Lake Oswego Home?

Now may be the best time to sell your home.  Don’t know how much equity you really have or what a price would be to sell your home?  I can help! Give me  a call. Your home may be worth more than you think. 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent.

I have worked in Lake Oswego as a Real Estate Broker since 1978, have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is still strong here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is in violation of Federal copyright law.

LARRC – is a 3 hour course to renew my real estate license.  Every two years, I am required to take 30 hours of continuous education for license renewal.  There are many classes I can take, but this particular course LARRC (Law and Rule Required Course) is mandatory and was updated 1/1/2018.bettyjung.com

Having completed that class today (I only need 5 more hours by the end of October!), there was some information in that class I wanted to share about radon.

RADON CONCENTRATION

When I sell a home, representing the buyers, I always recommend that a radon test performed by a licensed, certified and bonded EPA technician as part of the buyers’ due diligence when they are purchasing a home..

RADON LEVELS AND MITIGATION

You most likely have seen the radon maps, I have posted them on my blog and have written other posts about radon as well. What you may also know is that if you have two houses side by side, each house could/probably will have different radon levels.

A reading up to 4 is what I have seen the most.  1.3 is considered an average reading.  However, the EPA says no level is safe. Here is what the EPA recommends to reduce radon levels:

  • If the radon reading is 4 or below, there is no recommendation for action.
  • A reading of between 4-20, should be mitigated within a few years.
  • Two to 200, should have action taken within a few months.
  • Levels over 200, should have the radon mitigated within a few weeks.

SCREENING 

There are two methods for screening.  There is short term screening (testing) that does not measure long term levels of exposure.

A passive testing device is placed in the lowest level of the house and tests for 48 hours.  If there is no evidence of radon in that low level (usually in the back of a closet in the basement), there will not be any radon anywhere else in the house. A passive device to test runs approximately $20-30.  Sometimes, homeowners will do their own testing.

The other testing will require a trained technician.  A machine that runs continuously for 48 hours will determine any unusual swings in the reading.  This testing is what we as agents recommend during a transaction, and is more accurate.  The cost of this, which includes a report, can run between $75-200.

I remember in the  mid-1990s I was asked specifically about radon by a buyer relocating to Oregon from Texas.  At that time, the word radon was not even in our vocabulary.  Over the years after, it has become more and more important to buyers as radon can cause cancer. I highly recommend if you are purchasing a home, be it a resale or even new construction, you have the home tested by a licensed EPA technician.

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are also increasing but are still low and there is still buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright law.

 

The last couple of home inspections on pending sales I have had, both transactions had high levels of radon.  They were each in different parts of the Portland metro area. Should you be concerned about radon levels and how can you take care of the repair?bettyjung.com

Is It Safe To Buy A Home With High Levels Of Radon?

Buying a house can be a bit like falling in love. You shop around, seek advice from friends, and when you find the perfect match, lay it all on the line and pop the question. But even after a seller has said yes to your offer, you’ll need to complete a home inspection, which often includes a radon test.

Radon test results usually shortly after your home inspection report and can be riddled with terrifying facts about this deadly gas. If it reveals high levels, you may be left wondering whether you should walk away from the sale. You don’t have to. Here’s why.

A Radon Problem Can Be Fixed

Radon-related lung cancer kills an alarming 21,000 people each year, a tragedy multiplied by the fact that significant exposure to the gas can be easily remedied. The scope of the work depends on the level of gas and the style of your house, but it’s pretty simple and not overly expensive.

According to the Environmental Protection Agency, radon is found in every state and in many locations within the Portland metro area, even in the suburbs. It’s a naturally occurring radioactive gas produced by the breakdown of uranium in soil, rock, and water. Because the air pressure inside a house is typically lower than the pressure in the soil around its foundation, radon is drawn into the home through cracks in the foundation and other openings.

Radon levels are measured in picocuries per liter, or pCi/L. Levels of 4 pCi/L or higher are considered hazardous. Radon levels less than 4 pCi/L still pose a risk and in many cases can be reduced, although it is difficult to reduce levels below 2 pCi/L.

The EPA estimates that a radon removal system costs about $1,200 for an average house. The system is usually comprised of one or more PVC pipes that run from the radon-emitting soil beneath a home up through the roof. An in-line fan draws air through the system so that it doesn’t leach into living spaces. Once installed, a follow-up radon test is done. Even in houses with extremely high radon levels, you can expect a drop to levels considered safe.

You Can Ask for a Seller Credit

If a radon test reveals high levels—anything above 4 pCi/L—ask for a walk-through with an EPA-licensed radon remediation specialist. Here is the link to our State of Oregon Radon Office for information or I would be happy to provide you with a list of licensed and bonded contractors. Most will provide a free remediation estimate, and, if the work is done, guarantee that radon levels will be acceptable.

You can ask that the seller for a price reduction that covers the estimated cost of remediation. If the seller balks, remind those involved in the transaction that it’s a problem other buyers are likely to encounter as well. In Oregon, a seller is required by law to disclose the radon test results to other potential buyers on a seller’s disclosure form.

A Single Radon Test Offers Only a Snapshot

Relying on just one radon test done as part of a home inspection is a mistake, even if it reveals that the home has safe levels. In our tests, test kits that measure long-term levels—90 days or more—were far more accurate than the one-week tests used by most home inspectors. That’s because radon levels fluctuate day to day and season to season.

Let your home inspector test for radon and use the results as a bargaining chip to ask a seller for a credit if radon is detected. Just don’t think of it as the final word. You’ll still want a more thorough radon test done after the sale has closed.

Need more info? Check the radon information section of the EPA’s website. If you’re buying or selling a home, print out the EPA’s pamphlet on radon and keep it with your files.

Source: https://www.consumerreports.org/

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are also increasing but are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Lake Oswego Real Estate Updated Smoke Detector And Carbon Monoxide Law

I was told the other day by a home inspector, that there have been some changes made to the law for installation of Smoke Alarms and Carbon Monoxide Detectors.  Here is the latest:https://lakeoswegorealestateblog.wordpress.com/

Smoke alarms shall be installed in the following locations:

  1. In each sleeping room.
  2. Outside each separate sleeping area in the immediate vicinity of the bedrooms.
  3. On each additional story of the dwelling, including basements, but not including crawl spaces and uninhabitable attics. In dwellings or dwelling units with split levels and without an intervening door between the adjacent levels, a smoke alarm installed on the upper level shall suffice for the adjacent lower level.
  4. Smoke alarms shall be installed not less than 3 feet horizontally from the door or opening of a bathroom that contains a bathtub or shower unless this would prevent placement of a smoke alarm.

When more than one smoke alarm is required to be installed within an individual dwelling unit the alarm devices shall be interconnected in such a manner that the actuation of one alarm will activate all of the alarms in the individual unit. This does not pertain to legally existing dwellings unless work requiring a structural permit is taking place. This information can be found in section R314 of the Oregon Residential Specialty Code.

The installation of smoke alarms and smoke detectors shall comply with the following requirements: 

  1. Smoke alarms and smoke detectors shall not be located where ambient conditions, including humidity and temperature, are outside the limits specified by the manufacturer.
  2. Smoke alarms and smoke detectors shall not be located within unfinished attics or garages or in other spaces where temperatures can fall below 4°C (40°F) or exceed 38°C (100°F).
  3. Where the mounting surface could become considerably warmer or cooler than the room, such as a poorly insulated ceiling below an unfinished attic or an exterior wall, smoke alarms and smoke detectors shall be mounted on an inside wall.
  4. Smoke alarms and smoke detectors installed within a 6.1-m (20-ft) horizontal path of a cooking appliance shall be equipped with an alarm-silencing means or be the photoelectric type but no closer than 10 feet.
  5. Smoke alarms and smoke detectors shall not be installed within a 914-mm (36-in.) horizontal path from a bathroom containing a shower or tub.
  6. Smoke alarms and smoke detectors shall not be installed within a 914-mm (36-in.) horizontal path from the supply registers or return air opening of a forced air heating or cooling system and shall be installed outside of the direct airflow from those openings.
  7. Smoke alarms and smoke detectors shall not be installed within a 914-mm (36-in.) horizontal path from the tip of the blade of a ceiling-suspended (paddle) fan.
  8. Where stairs lead to other occupied levels, a smoke alarm or smoke detector shall be located so that smoke rising in the stairway cannot be prevented from reaching the smoke alarm or smoke detector by an intervening door or obstruction.
  9. For stairways leading up from a basement, smoke alarms or smoke detectors shall be located on the basement ceiling near the entry to the stairs.
  10. Smoke alarms or smoke detectors shall be installed in each sleeping room in the immediate vicinity of all sleeping areas.
  11.  All smoke alarms are to be installed according to the manufacturer’s recommendations.

The National Fire Protection Assn. Article 72 (aka: National Smoke Alarm Code) states that smoke alarms shall not be in service after 10 years. [ref: NFPA 72 – 11.8.1.4 (5)(b) – Smoke alarms installed in one-and two-family dwellings shall not remain in service longer than 10 years from the date of manufacture.] A typical manufacturer and the U.S. Consumer Product Safety Commission recommends replacing smoke alarms every 7-8 years as the sensor weakens.

Carbon monoxide alarms shall be located in each bedroom or within 15 feet outside of each bedroom door. Bedrooms on separate floor levels in a structure consisting of two or more stories shall have separate carbon monoxide alarms serving each story.

Thinking of Selling Your Lake Oswego Home?

Prices are still increasing in Lake Oswego. Interest rates are also increasing but are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Yesterday, I was reminded how important one of our State Laws is in regards to homeowners/renters and that lives are being saved because of it.

Lake Oswego Real Estate Law To Protect You

Two incidents occurred yesterday, on the same day, and many lives were saved as a result of this law.  The law was officially put in place in 2009.

What I am referring to is the law that homes need to have Carbon Monoxide Detectors – the COAlarmLaw.

Carbon Monoxide Detectors

These two incidents happened on the same day:

  • On my way to an appointment for a home inspection, I stopped off at my local dry cleaners.  The gal there told me how they had to evacuate their home the night before due to their carbon monoxide detector alarm going off.  Thankfully it went off, because the firefighters told her that their carbon monoxide detector was on its last leg and would be expiring within a couple of days.  Had it been a couple more days, they probably would not have been warned, and the consequences could have been dire.
  • Right after going to the dry cleaners, I went on to my home inspection for a sale pending I have.  Once there, almost the same thing happened.  During the home inspection, the inspector found gas fumes and carbon monoxide entering the home.  The inspector immediately shut off the gas.  He too said that the CO Alarm would be expiring in under 30 days and again, those sellers might not have received a warning to leave the home due to deadly fumes and toxins.

You may remember recently an entire family died in Mexico because of carbon monoxide poisoning.

Expiration Dates For Carbon Monoxide Detectors

What I never knew until yesterday was that the Carbon Monoxide Detectors have expiration dates just like smoke alarms.  Some expire in 5 years, others 8 to 10 years.  The law I posted above doesn’t mention that they expire.

If you purchased a home after 2009, you may be facing a potential risk with deadly results if you don’t have a functioning carbon monoxide detector.  Yours could have already expired by now or will shortly. It is really important for you to check the expiration date for your carbon monoxide detector.

For a minimal price, you could be saving your own life and your family.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low and there is a huge pool of buyer demand. I have ready, willing and able buyers ready to purchase your home. If you want to know the value of your home in today’s real estate market, please call me at 503-804-9685.

SEARCH FOR REAL ESTATE

There are links above to search for real estate.  I have a new website where you can search or you can use my mobile phone app as well. My website and mobile app provide you with access to all listings available on the RMLS™ system regardless of who the listing agent or brokerage may be. Listings are updated frequently throughout the day giving you the information you need, when you need it.

Moving to Lake Oswego?

Want to know more about Lake Oswego? I’d love to be your buyer’s agent, please give me a call at 503-804-9685.

I have worked in Lake Oswego as a Real Estate Broker since 1978 and have lived in Lake Oswego since 1988 and know all the neighborhoods! The real estate market is “hot” here in the Portland metro area and Lake Oswego. I am ready to assist you with all your real estate needs! “There is no substitute for experience.”

ALL ABOUT…..Lake Oswego Real Estate. Copyright 2008-2018. Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of Federal copyright laws.

Contact Betty Jung

Betty Jung, Broker
REALTOR®
CRS, GRI, ABR, SRES, CNHSS

MORE Realty, Inc.
14945 SW Sequoia Parkway, #150
Portland, OR. 97224

503-804-9685 Cell

or email:betty@bettyjung.com

"Selling Real Estate Since 1978. There Is No Substitute For Experience!"

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