It is almost that time! The Lake Oswego Farmers’ Market schedule for 2018 was just published.
We’re getting closer to more sunny days ahead too. Put these dates on your calendar so you don’t miss a thing.

Our popular Lake Oswego Farmers’ Market starts May 19 and runs through Ocotober 13 from 8:30 a.m. to 1:30 p.m. at Millennium Plaza Park in downtown Lake Oswego. Over 80 vendors will be there each week and the live entertainment schedule is below.Copyright Betty Jung

Lake Oswego Farmers’ Market 2018

Live Music from 10:30 to 12:30 p.m. each week + a Kids’ Corner for the little ones.

Farmers’ Market Entertainment Schedule 2018

  • May 19 – Southern Nights
  • May 26 – Sky in the Road
  • June 2 – Boka Marimba
  • June 9 – Organic String Beings
  • June 16 – Bernie Sims
  • June 23 – Ache Son
  • June 30 – The Stumptowners
  • July 7- Sucker Creek Jazz Band with Dick Saunders
  • July 14 – French Twist Band
  • July 21 – Rogue Bluegrass Band
  • July 28 – Rose City Flut Choir
  • August 4 – Margie Gibson with Dick Saunders and Friends
  • August 11 – Gospel Hooligans
  • August 18 – Sally Harmon and Frank Gruner
  • August 25 – The Jamblers
  • September 1 – Shira with Dick Saunders and Friends
  • September 8 – Espacio Flamenco
  • September 15 – Dripping West
  • September 22 – Portland Kora Project
  • September 29 – Brent Johnson and KJ Miller
  • October 9 – Fadin’ by Nine
  • October 13 – The Bylines

Forestry Festivities On Opening Day

This event includes Urban & Community Forestry booths and activities for children and adults.  Spin the prize wheel, do a craft, watch a tree pruning demonstration, receive a free tree seedling (Lake Oswego is all about the love of their trees!), and learn about Stewardship opportunities in your own neighborhood.  Arbor Day Art Contest winners will also be announced.

The Farmers’ Market is just the start of the many activities Lake Oswego has to offer.  Don’t miss out on all the fun!

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.

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https://lakeoswegorealestateblog.wordpress.comLake Oswego Real Estate Code Of Ethics

As a Lake Oswego Real Estate Broker, I am also a REALTOR®.  REALTORS® subscribe to the Code Of Ethics which is a barometer and guide. It consists of articles of behavior that we who belong to the NAR® (National Association of REALTORS®) must adhere to. Not all agents here locally or throughout the U.S. are REALTORS®.

Real Estate Code Of Ethics

What actually is in the Code of Ethics?  Have you ever read the articles that are in the Code of Ethics that relate to you as a consumer?  In 2013, the Code of Ethics turned 100 years old and is a part of being a REALTOR®.

I thought I would post a copy of those articles here for you to read.

REALTORS® Code of Ethics

In the many Facebook groups I belong to, because of the “hot” and highly competitive real estate market due to such low inventory of houses for sale here in Lake Oswego, in the Portland metro area and all across the U.S., as in other industries there seems to be relatively few “bad apples” in our business too.

Many of our local agents are posting some of that happening here locally.  We as real estate agents are self governing and need to report to our respective real estate organizations when there is any unethical behavior. Unfortunately, most consumers don’t even realize when an agent has perhaps been in violation of our Code of Ethics. Fortunately,  99.999% of all real estate agents in our Portland metro market adhere to the Code of Ethics.

Hiring A Real Estate Agent

When hiring a real estate agent, ask them if they are a REALTOR®. In fact, ask them to show you their REALTOR® identification and don’t just take their word for it.  Because some real estate agents may use that name loosely and not be a REALTOR® at all. If you are wanting to hire a real estate agent who is highly ethical, give me a call. I am always trying to improve my service to my clients as well.

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.

Once again there has been an update to our RMLS™ Rules and Regulations.  I recently wrote a post about “coming soon” properties but now there have some updates to the rule.  Here is the latest from our RMLS™:

COMING SOON PROPERTY LISTINGS

THE BASICSbettyjung.com

The Coming Soon-No Showing (CSN) status is for short-term use. Subscribers may use CSN to prepare a listing for Active (ACT) status. The listing may be in CSN status for no longer than 21 days and must have a valid listing agreement as well as seller approval. CSN status will indicate the listing firm and seller(s) are preparing the property for sale and marketing before the listing becomes active on RMLSweb. As such, CSN will be considered an off-market status as the listing is not actively being marketed and is not ready to be shown. Affiliate subscribers will not be able to view listings that are in CSN status, nor will CSN listings be included in statistical searches and reports.

USING CSN ON RMLSWEB

A listing agent will have the choice to publish a property as CSN. All required fields will still be required for a CSN listing and must follow all other input business rules. The required first photo will bear a watermark saying “Coming Soon-No Showings.” The Oregon and Washington listing contracts will be updated to allow seller(s) to choose between publishing the listing as ACT or CSN in RMLSweb or to exclude the property from the MLS.

Listings can stay in CSN status for up to 21 days. Listing Load will not allow a date further than 21 days in the future from being entered as the list date. If a listing agent submits a list date of fewer than 21 days in the future, the agent may extend the list date up until that 21st day—something that may come in handy if more time is needed to prep a property than was originally estimated.

The status of a CSN listing may be manually changed to ACT or WTH at any time during the 21 day period. When the list date is reached or the listing has been in the system for 21 days RMLSweb will automatically change the status of the listing to ACT at midnight. Once a listing is out of CSN status it cannot be reverted back, nor can properties that were once in CSN status be re-entered as a new CSN listing (exceptions: the property has expired or has been withdrawn for over 90 days; the property has been relisted with a new brokerage; or the property has been sold).

Open houses and broker tour offerings cannot be set up in Listing Load for a listing in CSN status. Listing View Count reports will still be available showing viewing counts from within RMLSweb, but Days on Market (DOM)/Cumulative Days on Market (CDOM) will not accrue while a listing is in CSN status.

RMLSWEB SEARCH AND CSN

CSN will not be included in the default status criteria when doing a new search—ACT and BMP will remain the two default statuses. CSN listings will be excluded from exported reports and consumer prospecting auto-emails. CSN can be searched with other statuses, included in a user’s watch list. CSN listings may be used to conduct a reverse prospect search or using Hotsheet. CSN listings are included in agent-only prospect notifications. CSN listing reports can be printed and emailed from RMLSweb, including client reports. The listings will state “no showings permitted” in showing instructions on agent reports, with the actual showing instructions hidden while in CSN status.

DATA FEEDS

CSN listings will be excluded from data feeds, including but not limited to RMLS.com, Realtor.com, HomeSpotter, IDX, VOW, and broker specific feeds.

AUTHORIZATION TO EXCLUDE

Listing agents will be able to submit the completed Authorization to Exclude from MLS Addendum directly into Listing Load on RMLSweb, eliminating the need to email or mail a copy to RMLS™. If a property is excluded, it will be for the full length of the listing contract, as the short-term option on the addendum will be eliminated. The property may be listed as active again once 30 days from the form’s expiration date have passed.

Thinking of putting your home on the market but not sure how this new rule plays with your long term plans?  Give me a call and I can sort it out for you.

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.

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.

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 in violation of federal copyright laws.

Since I have lived in Oregon,  I can remember going to the Woodburn Tulip Festival practically every year. As a gardener and hobbyist photographer it is one of the many flower and garden events we have available here in Oregon and one I don’t like to miss.  I have not visited this year as yet, but it is on my calendar to go to Woodburn soon.copyright betty jung.com Copyright bettyjung.com

Woodburn Tulip Festival

If you have never been, or just have not gone this year as yet, the Festival started March 23 and runs through April 30 from 9 a.m. to 6 p.m. so you still have time to go.

Situated on 40 acres of stunning beauty, experience expansive views of vineyards, distant mountains, and a few mud puddles. Fresh flowers, food, and fun for the entire family, including well behaved dogs on leashes!

Here is the link to the farm for more information.

We here lucky here in Oregon as these events and the gardens are just starting.  The Woodburn Tulip Festival fittingly starts off the gardening/planting & blooming season for all of us to enjoy.  And, I promise if you go, you will want to go back year-after-year. As we progress through the year, I will try to post the many other garden events that will be opening soon too.

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.

Have you noticed some black stains on your siding due to our weather here in Lake Oswego?  Are you concerned about it? Have you checked the siding on your home?

Lake Oswego Real Estate Maintaining Your Siding

I have noticed some spots on my siding that I have been concerned about too although it isn’t too bad as yet. Today I received an email from my favorite vendor that addressed that issue so I thought I would share it with you too. This picture is of a home I recently saw that illustrates exactly what I am referring to. When was the last time you checked the siding on your home?Copyright bettyjung.com

Maintaining Your Siding

During last week’s slightly warmer weather, you may have been in your yard and noticed areas on your siding that looked dirty, or even black.  Especially on the north or other shady sides of your home. You can see photos of what I’m talking about (and after photos of clean siding) here: https://www.facebook.com/actioncleaningteam/posts/10155929638100399

We have been getting a number of calls about cleaning siding. Sometimes it’s because the HOA wants a clean-up. Sometimes people are worried about damage to siding.

What causes the black areas? It is usually the result of organic material (dirt and dust) adhering to the siding. This provides nutrients for mold, mildew and algae (which are airborne) to grow. Some of the molds and mildews can stain your siding.

Stains on some siding can be painted over after cleaning. Other types of siding, such as aluminum or vinyl have factory-applied coatings, and are not easily repainted. If these types of siding get stained, there is not much you can do about it.

Does the black stuff damage siding? From a structural standpoint, the damage is usually minimal. However, there are some good reasons to clean the black stuff off your home.

First, if you are part of an HOA, you may be required to do so.

Second, even if you aren’t part of an HOA, keeping the black stuff cleaned off will make your home look well-maintained, increasing its eventual re-sale value.

Third, keeping your home looking well-maintained may help keep your insurance rates from going up. We know that a lot of companies now require your roof to be clear of moss to remain insured. Some companies may take into account overall maintenance, as well.

Finally, it’s just nice to drive up to a nice, clean-looking home, and cleaning the exterior every so often helps with that feeling.

What are your options for cleaning your siding?

  • Most siding can be pressure washed. This should be done professionally, as improperly handled pressure washing has the potential to damage siding.
  • We often use our Gentle Wash process for siding, which is easier on the surface. It is a two-step process. First, we apply a pre-clean solution and let it soak on the siding. Then we rinse it off with a special nozzle that does not create as much pressure on your siding. This is a great option for almost any kind of siding.
  • If you have exposed wood siding, such as shakes, we recommend our Green Clean process using an oxygen-based cleaner to lift debris and then a low pressure water rinse.

Source:  Action Northwest

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.

Lake Oswego Events April 2018Copyright Betty Jung

It’s Spring in Lake Oswego and time to get outdoors.  Lots to do this month:

Trains, Trains, Trains – Exhibit at City Hall. 1st Floor. 380 A. Avenue, Lake Oswego

Lake Oswego Photo Contest. Photos can be submitted on-line.  Contest ends September 7 at 5 p.m. For details go to www.lakeoswego.city/publicaffairs/photo-contest

April 1-7 – Arbor Week

Arbor Day is America’s National Tree Holiday and is observed on the last Friday of April to celebrate the role of trees in our lives and to promote tree planting and care.  Learn more at www.arborday.org/arborday/oregon

The Lake Oswego Library will have tree-themed books on display all week. For more Arbor Week activities you can find them here.

Now through April 15 – People’s Choice Award from the Gallery Without Walls. Visit http://artscouncillo.org/peoples-choice-2018/ for more info and to vote on-line.

April 6 – 5 – 7 p.m. First Friday Opening @ LO Adult Community Center

Honoring Our Rivers. This student art show will be in collaboration with Willamette Partnership and their annual “Honoring Our Rivers” anthology. The exhibition and First Friday Opening, April 6, 2018, will be at the Lake Oswego Adult Community Center located at 505 G Avenue in LO.

All other programming will be at the 510 Museum & ARTspace.

April 7 – Trillium Festival and Native Plant Sale – 10 a.m. to 4 p.m. Tryon Creek State Park.

April 21Community Shred Day. 9 a.m. to 12 p.m. Yakima Headquarters (formerly West End Building, 4101 Kruse Way). 2 supermarket shopping bags ONLY.

April 25 – 5 p.m. to 8 p.m. Emergency Preparedness Fair. Palisades. 1500 Greentree Road, Lake Oswego.

April 28 – Drug Take Back Day 10 a.m. to 2 p.m. at the Adult Community Center (505 G Avenue, Lake Oswego). Any questions contact 503-675-3992.

Events

Have an event you’d like advertised here?  If it is in Lake Oswego, send me an email and I will gladly post it here. I post Lake Oswego events monthly, so if you know of an upcoming event, or one in the current month not posted here, please let me know.

More Activities In Lake Oswego

There are other activities and events at Lake Oswego Parks & RecreationLake Oswego Public Golf CourseLake Oswego Adult Community Center, Lakewood Center for the Arts,  Lake Oswego Calendar, Lake Oswego Arts Council and the City Library.

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.

The big question in Lake Oswego is what is affordable?  Condos/Townhouses/Attached dwellings are “hot” and in demand.  While still a low inventory available to purchase, those that are on the market, are selling quickly.

Many homeowners are now seeing a good amount of equity, even if they have purchased recently within the last several years. Once again, condos are quickly becoming the most affordable purchase in Lake Oswego.

This Week Condo Stats Zip Code 97035

Summary

The median price of condos in zip code 97035 is $267,450 and prices are increasing and this report shows there is a strong upward trend.

Most of these condos in the 97035 zip code in the Lake Oswego Real Estate market are centrally located, near shopping, freeways, schools and parks, making condos in 97035 extremely desirable.

There are currently 28 condos/townhouses/attached properties for sale in Lake Oswgeo 97035. You can view them here goo.gl/djWC2i .

Interested in taking a look at any of these for sale?  Give me a call at 503-804-9685.

Source:  First American Title Company & Altos Research

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.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low but are increasing, and there is still 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.

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 in violation of federal copyright laws.

7 Simple Steps to Assess the Real Cost of a Fixer-Upper House

Do you want to purchase a fixer to hold on to as your own home? Don’t even know where to start? Making an offer may seem daunting, but this might help you figure out how much to offer for a fixer-upper.

Follow these seven steps, and you’ll know how much you can afford, how much to offer, and whether a fixer-upper house is right for you.

#1 Decide What You Can DIY

TV remodeling shows make home improvement work look like a snap.

In the real world, attempting a difficult remodeling job that you don’t know how to do will take longer than you think and can lead to less-than-professional results that won’t increase the value of your fixer-upper house.

Do you really have the skills and experience to do repairs? Some tasks, like stripping wallpaper and painting, are relatively easy. Others, like electrical work, can be dangerous when done by amateurs.

Do you really have the time and desire to do it? Can you take time off work to renovate your fixer-upper house? If not, will you be stressed out by living in a work zone for months while you complete projects on the weekends?

#2 Price the Cost of Renovations Before You Make an Offer

Get your contractor into the house to do a walk-through, so he can give you a written cost estimate on the tasks he’s going to do. If you’re doing the work yourself, price the supplies. Either way, tack on 10% to 20% to cover unforeseen problems that often arise with a fixer-upper house.

#3 Check Permit Costs

Ask local officials if the work you’re going to do requires a permit and how much that permit costs. Doing work without a permit may save money, but it’ll cause problems when you resell your home.

Decide if you want to get the permits yourself or have the contractor arrange for them. Getting permits can be time-consuming and frustrating. Inspectors may force you to do additional work, or change the way you want to do a project, before they give you the permit.

Factor the time and aggravation of permits into your plans. If you are wanting to “flip” the house, you may be required to provide any any and all permits to the new buyers.

#4 Double-Check Pricing on Structural Work

If your fixer-upper home needs major structural work, hire a structural engineer to inspect the home before you put in an offer so you can be confident you’ve uncovered and conservatively budgeted for the full extent of the problems. Get written estimates for repairs before you commit to buying a home with structural issues.

Don’t purchase a home that needs major structural work unless:

  • You’re getting it at a steep discount
  • You’re sure you’ve uncovered the extent of the problem
  • You know the problem can be fixed
  • You know the costs involved and have a binding written estimate for the repairs

#5 Check the Cost of Financing

Be sure you have enough money for a down payment, closing costs, and repairs without draining your savings.

If you’re planning to fund the repairs with a home equity or home improvement loan, get yourself pre-approved for both loans before you make an offer.

Make the deal contingent on getting both the purchase money loan and the renovation money loan, so you’re not forced to close the sale when you have no loan to fix the house.

Consider the Federal Housing Administration’s Section 203(k) program, which is designed to help home owners who are purchasing or refinancing a home that needs rehabilitation.

The program wraps the purchase/refinance and rehabilitation costs into a single mortgage. To qualify for the loan, the total value of the property must fall within the FHA mortgage limit for your area, as with other FHA loans.

A streamlined 203(k) program provides an additional amount for rehabilitation, up to $35,000, on top of an existing mortgage. It’s a simpler process than obtaining the standard 203(k).

Call me to find out about other financing that may help in your purchase.

#6 Calculate Your Fair Purchase Offer

Take the fair market value of the property (what it would be worth if it were in good condition and remodeled to current tastes) and subtract the upgrade and repair costs.

For example: Your target fixer-upper house has a 1960s kitchen, metallic wallpaper, shag carpet, and high levels of radon in the basement.

Your comparison house, in the same subdivision, sold last month for $200,000. That house had a newer kitchen, no wallpaper, was recently re-carpeted, and has a radon mitigation system in its basement.

As an example, the cost to remodel the kitchen, remove the wallpaper, carpet the house, and put in a radon mitigation system could cost $40,000. Your bid for the house should be $160,000.

#7 Include Inspection Contingencies

Don’t rely on your friends or your contractor to eyeball your fixer-upper house. Hire pros to do common inspections like:

  • Home inspection. This is key in a fixer-upper assessment. The home inspector will uncover hidden issues in need of replacement or repair. You may know you want to replace those 1970s kitchen cabinets, but the home inspector has a meter that will detect the water leak behind them.
  • Radon, mold, lead-based paint
  • Septic and/or well
  • Sewer Scope
  • Dry Rot
  • Roof Inspection

Most home inspection contingencies let you go back to the sellers and request they handle any repairs. The seller can also opt to simply back out of the deal, as can you, if the inspection turns up something you don’t want to deal with.

If that happens, this isn’t the right fixer-upper house for you. Go back to the top of this list and start again.

Source: G. M. Filisko

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.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low but are increasing, and there is still 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.

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 in violation of federal copyright laws.

Oh boy!!! Looking at the RMLS™ Market Action Report for February 2018 tells me it will be a wild and crazy Portland metro real estate market heading into the next several months, and not unlike we have had the last couple of years. Instead of an increasing inventory of houses for sale, February saw 1.9 months,  a decrease from 2.2  months in January 2018.

So, we may be facing yet again, a Spring and Summer real estate market with multiple offers, over asking price sales plus rising prices.  Buyers can’t seem to get a break. This Portland metro real estate market continues to favor sellers.  Sellers where are you??

We could easily use at least 4-5 times the number of houses for sale than we currently have.  It isn’t even close to a balanced, or what we might consider to be, a “normal” real estate market.

Lake Oswego Real Estate RMLS Market Action Report February 2018

February Residential Highlights

Closings had a strong month this February in the Portland metro area. There were 1,806 closed sales, a 8.2% increase over February 2017 (1,669) and a 10.9% increase over January 2018 (1,628).

New Listings

New listings (2,530) saw gains in February as well, outpacing February 2017 (2,521) by 0.4% and January 2018 (2,486) by 1.8%.

Pending Sales

Pending sales, at 2,337, fell 1.4% short of the 2,369 offers accepted last year in February 2017 but inched 1.1% ahead of the 2,311 offers accepted last month in January 2018.

Days On The Market – Total Market Time

Total market time increased by nine days in February, ending at 69 days. Inventory decreased slightly to 1.9 months in the same month.

Active Listings For Sale

There were 3,441 active residential listings in the Portland metro area this February.

Average And Median Sale Prices

bettyjung.comComparing the average price of homes sold in the twelve months ending February 28th of this year ($432,200) with the average price of homes in the twelve months ending February 2017 ($402,000) shows an increase of 7.5%. In the same comparison, the median has increased 9.4% from $350,000 to $383,000.

Lake Oswego Real Estate Summary

Lake Oswego on the other hand saw an increase in the number of houses for sale.  January we had 2.9 months of inventory, while February saw an increase to 3.2 months.  However, we are also still a seller’s market in Lake Oswego too.

The Portland metro area real estate market had a 7.5% price increase year to date; whereas, Lake Oswego had a 4.8% price increase YTD.

Interest Rates

bettyjung.com

Courtesy Mike Popnoe

Interest rates are increasing and there are now loans where you can lock in a rate before you ever find a house you want to purchase.  Want more information?  Give me a call 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.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low but are increasing, and there is still 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.

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 in violation of federal copyright laws.

Have you ever walked into an open house and had that agent write an offer for you on that home?

Did you go to a builder’s new construction open house and have the builder’s agent sell you the new home?

When you called the listing agent, did you think you were getting a better deal because you had them write your offer?Copyright Betty Jung

Lake Oswego Real Estate Your Right To Have Your Own Buyer’s Agent

In all of these cases, it does not benefit you as a buyer to have the open house agent, the listing agent, or the builder’s agent assist you with your purchase.  In fact, in all of above-mentioned cases, those agents are representing the seller each and every time, and not you at all. Those agents do not have your best interests at heart but are working in the best interests of the seller.

It amazes me that many people still don’t understand agency or what a buyer’s agent is.  Most buyers are not even aware that if you are the buyer you have rights to have your own agent representing you regardless what a lender or a listing or on-site agent will tell you.

Many agents tout themselves as being a “buyer’s agent” when in fact all of us as licensed Oregon real estate agents can be your buyer’s agent.

What’s The Difference Between A Buyer’s Agent And A Seller’s Agent

Buyers Agent – has a buyer’s broker agreement/contract with you and will assist you in shopping for a home.  Your Buyer’s agent researches and previews properties that you might like, helps you get the best price and presents your offer to the seller.

The listing or selling agent, or another person holding the house open, has a responsibility to the home’s seller, builder, or another person who owns the home.

When working with a real estate agent, it is important you clearly understand who that agent’s primary client is and which party in the transaction they are representing.

My Responsibility To You

To learn more about how your interests can most effectively be protected give me a call.  I would be happy to explain the way in which I can represent you.

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.

Thinking of Selling Your Lake Oswego Home?

Prices are increasing at a fast pace in Lake Oswego. Interest rates are still low but are increasing, and there is still 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.

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 in 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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