Real Estate Blog - Blog Archive: February, 2014

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February 2014

Found 2 blog entries for February 2014.

One of the most important things you can do when buying a home is to compare mortgage loans. Mortgage loans determine the amount of your monthly payments as well as the amount you put down, and how much interest you will incur over the life of the loan. To make things simpler, we suggest you ask each lender the following questions:

• What is the loan’s interest rate?
• Will I be charged points?
• What are the closing costs and all other fees?
• What is the annual percentage rate, or APR – the rate you will pay per year for all the costs associated with the loan?
• Is there a pre-payment penalty?
• How is the loan amortized, meaning how quickly is the principal paid off?

No matter what type of loan you are considering you need to find out the answers

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A Snohomish, WA developer has started construction in NW Portland of a micro- apartment building. The site of a single family home at 2250 NW Thurman St will soon host 56 apartments. These units start at less than 200 square feet each and contain a living area, bathroom, and a shared kitchen down the hall. A second location in the Hollywood District in NE Portland is also being pursued.

One attraction of micro – apartments is their ability to offer rent at a lower price point than anyone else on the market. According to Multifamily NW rents have climbed 6-7 percent per year since 2010 in Portland. On average a studio apartment now costs $827 per month, unless you are in Northwest Portland, where studios rent above $1,000 per month. Footprint

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