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Many property purchases are funded through FHA loans. How does this effect the appraisal process? Here is some insight into what inspectors are looking for and how to prepare your home to pass inspections with flying colors. 

Per FHA Single Family Housing Policy Handbook, “HUD requires every property to be safe, sound, and secure to be eligible for FHA insurance”. The property must also comply with HUD’s Minimum Property Requirements (MPR) and Minimum Property Standards (MPS). These requirements and standards form the basis for identifying the deficiencies of the property that the appraiser must note within the appraisal form and that must be addressed by the mortgagee before closing.

FHA Roster appraisers must report all readily observable

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It’s easy to get stressed out just hearing the word “renovation.” You’re instantly thinking of having your home life disrupted by construction debris, cluttered rooms, and loud noises.

But you don’t have to spend a ton of money and brace yourself for months of inconvenience to upgrade your home. Here are a few projects that you can knock out in a single day, and they’ll greatly improve the look and enjoyment of your home.

Paint or replace an exterior door: If you know the correct dimensions and specifications for a replacement door, replacing an exterior door is a quick and easy job. That’s even more true if you’re repainting it. Preparation and a few coats of paint will only take a few hours.

Plant some low-maintenance trees: Young evergreen

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Unless you built a custom home, you probably have a long list of things you’d like to improve in your current home. Browsing online listings might get you in the mood to upgrade to a new home, or you might be thinking about renovating your current home after binging on HGTV. The answer to renovation vs. relocation depends greatly on what you’re trying to fix.

Thinking about a new kitchen?
If you’re dreaming of a chef’s kitchen with new appliances and beautiful cabinets, renovating your own kitchen gives you incredible ROI and is less costly than moving. You’ll increase the value of your own home if you ever decide to sell, and there’s a great sense of accomplishment that comes with completing a custom renovation.

Need more space?
If you’re

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You may think that sale price is the only factor when you’re looking at comps and trying to set a price for your listing. But it’s actually a bit more complicated. Here are five things that affect comps that you might not be aware of.

 1. New construction nearby: Because of low prices for lots and varying prices in home building materials, new homes can actually be cheaper and cost less per square foot than existing homes. If there’s a lot of new construction nearby, that can affect the price for your own listing.

 2. Renovations: Recently renovated homes typically sell for more than homes that haven’t been updated in a while. If you’ve recently upgraded your home—especially sought-after upgrades like the kitchen or master bath—your home should

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Has anyone else noticed the bright orange bikes around town? Bike share is finally in Portland. Portland Monthly released a great article that the evolution and implementation of Nike's bike share program in Portland. Here is what they had to say.  

For city where cycling is so much part of the culture, it feels a little backwards that it took 10 years to launch Biketown, Portland’s brand-new “smart” bike share program.

As of July 19, 1,000 neon orange cruisers are available to cyclists at 100 stations throughout the city—effectively making Biketown the nation’s largest smart bike program to date. Early that morning, I attended the program’s official launch—a for-show “bike-unlocking” on the west side pavilion of the Tilikum Bridge attended

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The Portland Mercury’s Burger Week—AKA the best week of your life—runs from Aug 8-13. Feast on amazing $5 burgers at 35 restaurants… and while you’re at it, we challenge you to donate $5 to Oregon Food Bank for every burger you eat!

 

 

 

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Purchasing a home can be a stressful experience, whether you’re a first-time buyer or you’ve been through the process before. But that’s one of the reasons that working with a real estate professional is so worthwhile. With your agent’s guidance, buying a home should be enjoyable, rather than stressful. Here are some of the more unique circumstances where your agent can make your life much easier.

Out-of-town buyers: If you’re looking for vacation homes or moving to a job in a new city, there’s a good chance that viewing homes will be difficult—you could be a long drive or even a plane ride away. With today’s video messaging apps like Skype or Facetime, your agent can walk you through a property virtually. It’s not the same as walking through in

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Home inspection is an important part of the home sale process, both for buyers and sellers. When it’s time for you to hire an inspector, here are five things you should be thinking about:

 1. It’s your choice: You are not bound or obligated to use any particular inspector. Your real estate professional may have some recommendations, but it’s ultimately up to you. Ask around and choose wisely—better to pay a little more now for a highly-respected inspector than to be surprised by a problem that the inspection didn’t reveal.

 2. Looking for big problems: The inspector will be focused on the integrity of the home—safety, electrical work, foundation, load-bearing walls, etc. The inspector is not there to point out problems with ugly paint colors or

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We’ve all watched the HGTV programs that show a run-down old house transforming into a dream home. Tackling a big renovation project on an outdated property can indeed pay off big—both with the home of your dreams, and with a return on investment. If resale value is a primary concern, consider these factors as you’re making your fixer-upper plans.

Is the price right?
How much can you invest in a home beyond the sale price while staying in line with the value of homes in the neighborhood? You don’t want to improve a home to the point that it’s worth far more than the norm for the area. You’ll enjoy the property while you’re living there, but if you ever decide to sell, your ROI could be limited by the market value of nearby houses.

Low cost,

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The Portland Business Journal just came out with this article on rental prices in Portland. Here is what they had to say-

In Portland, you can get a room in a house. So says a new report from apartment search company ABODO, which took an informal look at rentals in nine fast-growing cities across the country to see what a tenant could get for about $1,000 a month. In North Portland, the company found a bedroom for rent in a Craftsman home built in 1912.

For $950 per month, the tenant gets one bedroom and use of the common spaces of the home, which sits on the edge of the Alberta Arts District.

"Portland clearly has a lot to offer — a great food scene, a growing tech sector and the weather, for the most part, is mild. These are selling points

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