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The purchase of a home is a personal decision. However, we want to give everyone four great financial reasons why you should not wait before taking the plunge into homeownership.

Interest Rates Are Increasing

Interest rates have increased almost 3/4 of a point in the last six months. Most experts expect rates to continue to increase through the year. Interest rates along with price determine the overall cost of a home. Even with prices softening, if interest rates rise, it may be less expensive to buy now rather than wait.

The 30-Year Mortgage May Disappear

There has been much debate regarding government’s role in providing support for homeownership. There are several experts who believe If Fannie Mae and Freddie Mac’s roles are eliminated, or even limited, it may be the end to the 30-year mortgage. This concern is addressed in MSN Real Estate’s Is it curtains for the 30-year mortgage?

QRM Requirements Could Be Much More Stringent

Here are proposed changes to the requirements for a ‘qualified residential mortgage’:

There would be loans available to purchasers who don’t qualify under the new rules. However, they will probably be more expensive to the buyer (both in rate and costs).

Rents Are Expected to Increase

The supply of available rentals is decreasing and the demand is increasing. That will lead to an increase in rental costs throughout the year. The Wall Street Journal this week quoted a report by Reis, Inc:

“Expect vacancies to continue declining, and rents rising through the rest of 2011 at an even faster pace.”

Bottom Line

You may be waiting on the sidelines to see if prices will continue to depreciate before you purchase a home. The mortgage expense is a major piece in the overall financial picture of homeownership. Make sure you consider it when timing your decision.

Written by David Krause // Leave A Comment

You’re a Firework!

February 14th, 2011

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Happy Valentine’s Day everyone! You are truly a firework. Let yourself shine! XO

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Does Staging Work? – Part 1

February 4th, 2011

Categorized under: Sell High

Staging is a critical component of selling your home, and there are different ways to tackle it.

If you are fully furnished, you may need a little rearranging, clutter removed and some items brought in to create the perfect effect.

If you have a few items to work with, you can also add to them.

Vacant homes are abundant right now and to stand out you must create an environment where buyers can connect emotionally. I will illustrate here with some before and after staging photos so you can make your own decision.

Click here to find out more about Pangaea’s Home Staging Services.

Simply put, home staging is the process of thoroughly preparing your home to go on the market. Statistics prove that staged homes sell in half the time and for an average price 6.9% higher than their comparable non-staged competition. *

People are shopping for homes differently today and your property could be eliminated before a buyer ever comes near it.  In 1995 just 2% of people did any online research before going out to look at homes, but by 2007 that number had jumped to a whopping 87%! ** Today’s buyers are looking at homes online and sending their brokers a list of properties they want to see. If your property doesn’t present beautifully in the listing photos, buyers will eliminate it before you ever get them to a showing. Home staging by a professional assures that your property will show in it’s most positive light in your listing photographs and for personal showings.

Those statistics go up to 2007. It is generally accepted that now approximately 95% of people are looking online prior to deciding which properties to look at. So staging and getting excellent photos dramatically increases your chances of getting a buyer to come for a showing vs. an empty property.                                           – Study done by the International Association of Home Staging Professional

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I’m not big on holidays, but I have to say that Groundhog’s Day is one of my favorites. And February 2nd, 2011 Punxsutawney Phil awakened to find no shadow, so we are in for an early Spring. How great is that!

Groundhog’s Day is also one of my favorite movies. Check it out!

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1st Annual Perfect Pickle

February 4th, 2011

Categorized under: News + Events

[vimeo]http://vimeo.com/19236143[/vimeo]

On Monday The Dill Pickle Club is having an event that should be super fun. If you haven’t heard of the Dill Pickle Club it’s because it’s a fairly new group that has been busy educating folks about and altered and forgotten history lessons for just over a year.

The 1st Annual Perfect Pickle will be on Monday, February 7th, 2011 from 7-11pm. They’ve picked a unique space to throw the party – the Cleaners at the Ace Hotel (1022 SW Stark St) – live bands & a pickle challenge with Beast, Chop, DOC, Le Happy, Navarre, Olympic Provisions, Salt Fire & Time and Unbound Pickling. The judges are Dave “Killer Bread” Dahl, Tony Perez and Courtney Din.

This will be a fun event… It’s only $5. Click here for more about The Dill Pickle Club, support the cause and become a member today.

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Categorized under: News + Events

I absolutely love walking down to the Portland International Test Rose Gardens in the evenings on warm summer days to experience a variety of entertainers with friends and neighbors. I will be posting the 2011 schedule as summer approaches… stay tuned.

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Portland Icon – Darcelle

January 31st, 2011

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Darcelle, for the past 80 years, has held her own. She opened Darcelle XV and Company over 37 years ago, a showcase of World Famous Female Impersonators entertaining audiences with Las Vegas-style cabaret revues of glitz, glamour, and comedy. Rumor has it, this is the longest running show of it’s type in the country.

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Categorized under: Architect/ure

Clyde Common in the Ace Hotel is a great space to grab a burger, a well crafted cocktail and people watch. With it’s voluminous space and enlarged windows you can sit at one of the communal tables for hours watching always interesting Stark Street pass by.

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House Warming Warm Up*

January 30th, 2011

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THANK YOU YVONNE IVERSEN! YOU ARE AMAZING!

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Living Building Challenge

January 30th, 2011

Categorized under: Architect/ure, Green Homes, News + Events

I acknowledge the Moon brothers, Dustin & Garrett, for going against the grain and showing us all there is a better way to exist on our planet. They are building The Commons to be the first U.S. home to meet the Living Building Challenge. WOW. We need more of this. Immediately.

The Commons will generate all its own energy without the use of fossil fuels, live healthy with natural materials, reclaim all of its water and compost all its human waste. The Moon brothers are serious about going beyond the standard green building standards that don’t nearly do enough to save our world, create beauty or build community. THANK YOU!

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