First Time Home Buyers

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First Time Home Buyers

Found 27 blog entries about First Time Home Buyers.

How you manage your money today directly impacts your financial health in the future. Let's stop the anxiety and stress that comes along with the money management struggle. For most of us, the most meaningful thing we can do is to own your home. If you are feeling behind the investment curve or you just need some helpful tips to get you back on the investment track, join us for a FREE 2-hour workshop. We will show you market trends, review the mortgage loan and home buying process, we will talk about budgeting, and how they will fit into your wealth-building plan.

Join Emily Morris, an Oregon Licensed Realtor with the Portland Home Team at Keller Williams Realty Professionals, James Adair, a Mortgage Loan Officer with Sierra Pacific Mortgage, and

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You’ve most likely heard the rule: Save for a 20% down payment before you buy a home. The logic behind saving 20% is solid, as it shows that you have the financial discipline and stability to save for a long-term goal. It also helps you get favorable rates from lenders.

However, there can actually be financial benefits to putting down a small down payment, as low as 3 %, rather than parting with so much cash up front, even if you have the money available.


The downsides of a small down payment are pretty well known. You’ll have to pay Private Mortgage Insurance for years, and the lower your down payment, the more you’ll pay. You’ll also be offered a lesser loan amount than borrowers who have a 20-percent down payment, which will

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The Wall Street Journal reported last week that homeownership rates are on the rise for the first time in 13 years thanks to the highly scrutinized generation: millennials. 

Despite rising house prices, tight supply, and strict lending conditions, millennials stayed committed to their financial goals and spurred buying activity. The rate was reported at 64.2% in the fourth quarter of 2017, up from 63.7% in 2016. The biggest increase was with buyers under the age of 35, rising from 34.7% to 36%. This annual increase marks a crucial turning point because it comes after the federal government reined in bubble-era policies that encouraged banks to ease lending standards to boost homeownership. Not only does demand for homes help drive construction,

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Don't miss this educational event! Learn the basics of homeownership with great information shared by Kyung Kim, an Oregon Licensed Realtor with the Portland Home Team at Keller Williams Realty Professionals, Mitzi Kondo, a Mortgage Loan Officer with Umpqua Home Loans, and Dryden Driggers, a Money Coach from the Sacred Money Studios. This 2-hour workshop will inform, motivate, and move you closer to attaining your dream of homeownership!

Thursday, January 18th from 7pm-9pm at Sacred Money Studios 7814 SW Capitol Hwy, Portland, Oregon 97219

We will educate you on the sales contract, the current market trends, the mortgage loan process, budgeting, and cover terms and language used in the home buying process.

Are you ready to buy? How much can you

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Are you or someone you know considering selling your home after December 31st, 2017?

Chances are yes, no matter what chapter of homeownership you are in, you're going to want to listen up! The City of Portland has issued a mandated Home Energy Score Assessment and Report* to be provided by the sellers of single-family homes and townhomes starting January 1st, 2018 within the Portland jurisdiction. 

What is it? A Home Energy Score (HES) is the measurement of energy efficiency a home has based on an onsite evaluation of the physical characteristics of the house and where it is located on a scale of 1-10. It's similar in concept to the MPG ratings for automobiles.  The score is not determined by current energy usage influenced by

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In a few days, the RMLS Market Action Report will tell us about Portland's real estate market in September. We predict that the report will be seen as negative, and in that is opportunity.

Here is what has happened: In August the number of Portland properties that went under contract was 7.6% lower than August 2016, and also 7.6% lower year-to-date in 2017 compared with a similar period in 2016. These numbers will result in fewer reported closings last month compared to September 2016, August 2017, and year-to-date 2016 vs 2017 through September.

Number of Homes Sold in Portland

Those that closed in September will probably also be at lower price points. OregonLive and a few talking heads will claim that tight supply and affordability issues mean the market may have peaked, that

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The Portland Business Journal recently came out with an article that speaks to the condition of the current housing market. Windermere's chief economist discusses the main factors that effect Portland's real estate market.  

Earlier this month I had the pleasure of presenting my economic update and housing forecast to 400 real estate agents that gathered from six states across the U.S. for Windermere Real Estate’s annual Symposium, held at the Sentinel Hotel in Portland. Even though they all represented different housing markets and micro-economies, the questions that resonated from agents during the networking and professional development opportunities were uncanny in their similarities.

First, I’ll explain by addressing the rampant rumors at

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It’s easy to be wowed by a house. You’re anxious to discover your dream home and accomplish a big goal. You can’t wait to cook in the brand new kitchen or relax in the spa-style tub. All that excitement can also make it easy to dismiss some minor issues that can become major annoyances down the road. Rather than letting your excitement get the best of you, take the time to analyze smaller details properly.

Don’t dismiss the location
Let’s say you find a perfect home that’s an extra 20 minutes each way from work. Those 40 total minutes don’t seem like a big deal at first glance, but consider that you’ll be dealing with that extra commute day after day, year after year for as long as you live in the house. Is that an inconvenience you’re willing to

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With all the money you pay for a home, you want to make sure you spending your hard-earned dollars on a legitimate piece of property—and that’s where a title company comes in.

When you purchase a home, a title company will research the property to ensure that you are the rightful owner. They’ll look through records for anything that might cause problems—ownership disputes, restrictions, unpaid taxes, liens, and more. Their goal is to document the chain of title and identify any issues that could become major problems down the road.

At the end of the process, the title company issues a title opinion. This is a legal document that states that the title is valid.

The title opinion is part of obtaining title insurance. The insurance protects both the

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There’s no more important time to work on your credit score than when you’re about to apply for a mortgage. Improving your credit can save you a ton of money—we’re talking about thousands of dollars over the life of the loan. Here are the actions you can take that will have a notable impact on your score.

Pay down your credit card balances
Credit utilization is one of the biggest factors in determining your credit score. Your credit utilization should at least be less than 30 percent of your limit, and it’s even better if you can get it below 15 percent. This rule applies to both individual cards and your overall credit limit.

It may even be worthwhile to use some of the cash funds you were planning to use for a down payment to pay off credit

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