About Us
Tony and Libby Kelly, MBA, M.Ed. are ranked in the top 1% of REALTORS in Portland Metro. They have been featured on HGTV's "House Hunters" 3 Episodes & "My House is Worth What?" 4 Episodes.
Great News For First Time Home Buyers!
GREAT NEWS FOR FIRST TIME HOME BUYERS!
Great news for first-time home buyers. This week, Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development stated that the Federal Housing Administration (FHA) is now going to permit it’s lenders to allow home buyers to use the $8000 tax credit as a down payment. Previously, buyers had to wait to file their taxes to take advantage of the tax credit, which hindered some home buyers from buying.
By allowing buyers to utilize the tax credit as a down payment, money will now be freed up for the buyer that would otherwise be needed at closing. This will allow the first-time home buyer to save their money for a rainy day or for home improvements.
I believe this new program will further stimulate the already improving real estate market, attracting even more first-time home buyers.
There couldn’t be any more incentives for first-time home buyers, considering that interest rates are at an all time low, home prices are not over inflated and there are plenty of homes to choose from. Sellers would have to give the home away for free for there to be a better deal. This is the absolute best time to be a first-time home buyer.
Consumer confidence needs a boost and I feel that this is just the news that will do it or at least light a fire. Now, if only the news media such as the TODAY Show would report on this great news instead of always reporting on the negatives about the real estate market, consumer confidence would increase.
If you are a first-time home buyer, get out there and find your home before this tax credit is gone in November.
Mortgage Interest Rates*
Rates as of Wednesday, 13th May, 2009:
Conforming APR Payment per
$1,000 Jumbo APR Payment per
$1,000
Conforming FNMA Fixed 5.0% 5.088% $5.37 % 0.000% $0.00
FHA 97% Fixed 4.875% 4.962% $5.29 % 0.000% $0.00
Conforming 15 Fixed 4.625% 4.711% $5.14 0% 0.000% $0.00
Conforming 3 year ARM 4.5% 4.585% $5.07 % 0.000% $0.00
Conforming 5 year ARM 4.5% 4.585% $5.07 % 0.000% $0.00
Jumbo Fixed 7.0% 7.099% $6.65 % 0.000% $0.00
Jumbo 5 year ARM 6.125% 6.219% $6.08 % 0.000% $0.00
*Rates are subject to change due to market fluctuations and borrower’s eligibility.
Information provided by…
Kevin Donahue
Executive Mortgage Advisor
Wealthbridge Mortgage
Phone: 503.501.6468
Fax: 503.597.7525
kevin.donahue@wealthbridge.com
http://www.wealthbridge.com/ <http://portal.mxlogic.com/redir/?FTujKDuX8USDtYQsEEIEzzhOr016fQ-pcx6i17-nMTvHTLuX3XNEVsdTdPZlo_p_g57RS4WRf8l3-ndEIe9I6QkS4QSbI9LCQNNIb7Xek6Rkzh02ZDVEw2qO6PYQg0LZgb6V-7PNo_pgdECQjqtTPhOyyOyMyrD06O>
PLEASE CHECK OUT OUR NEW PODCAST ON THE HOMEPAGE OF OUR WEBSITE http//:www.TonyandLibby.com & OUR NEW PORTLAND METRO BLOG AT http://pdxrealtynews.com/
A Sign of the Times
Unemployment is sky high now-a-days and getting a plain ol’ part-time receptionist job will have you competing with hundreds of other applicants. What can you do to stand out from a crowd of overqualified job-seekers? Now is the time to get a little creative and get people to remember you. It’s common knowledge that you tend to get a job through who you know. Nick Willard decided he needed to expand his network and get his face out there. He stood at the freeway exit and handed out his resume and cover letter to those who showed interest. With a family at home to support he thought it was time for potential employees to see Nick, not just a piece of paper. Those who overcome in tough times are those who don’t sit at home feeling sorry for themselves.
http://tigardtimes.com/news/story.php?story_id=123984496254591400
PLEASE CHECK OUT OUR WEBSITE for Portland Real Estate http//:www.TonyandLibby.com
2852 SE Robin Way, Gresham OR 97080
Absolutely Fabulous Springwater Heights Traditional. This meticulously decorated and maintained home features beautiful hardwood flooring, large kitchen w/center island, designer interior colors, Rejuvenation lighting, desiger home fixtures, window treatments and hardware, spacious master suite w/double sinks, soaking tub & huge walk-in closet, central air, & upstairs laundry.
5870 SW Ralston Dr, Portland OR 97239
Looking for the perfect scenic lot to build on? Looking for a cozy house to dwell in while developing your building plans? This incredibly charming home features gorgeous hardwood flooring with custom inlays, extra large windows for abundant natural lighting, and a very rare .50 acre buildable lot in Hillsdale! Awesome views and lot potential. Adjacent lot also available.
1410 NW Kearney St, Portland OR
Fantastic corner unit in the excitingly modern Edge Lofts. This Spacious Pearl District gem features abundant upgrades including gourmet kitchen w/custom back splash, high-end stainless appliances, gorgeous hardwood flooring, custom partition forming extra bedroom or office & extra storage unit. Floor to ceiling windows bath living area w/natural light. Dining, shopping & fun.
Taking Advantage of Interest Rates
It seems like everywhere you turn there is some letting you know how amazing rates are now and how you MUST take advantage. At the same time you will hear story after story of people with decent to great credit not being able to get one of these amazing loans because of stricter standards. So how do you give yourself the best chance possible?
To start you are going to want to see if you qualify for a refi. Banks are currently wanting a credit score of at least 740 and 20% equity. These are not hard and fast guidelines but if your credit score could use some help, now is the time to work on it. If you don’t have the 20% equity there are some programs out there but your loan must be held by Freddie Mac or Fannie Mae.
Next you are going to want to get rid of any home equity loans or lines of credit. Otherwise you can be adding significant time to the loan process and/or some interest could be tagged on.
You will also want to know where to look by shopping around. Where one bank may reject you, another might see you as a perfect candidate. Lately the best rates seem to be coming from small local banks and credit unions.
If you have the option, it is a really good idea to pay a point up front. A point is 1% of your mortgage and paying one off up front can buy your loan down an eighth to a quarter of a percentage point off your rate. Some lenders will even take off a full half of a percentage point just to avoid serial refinancers. This could also help you lock in a rate. Before you really only need about a month so locking in your rate wasn’t so difficult. Now it can take closer to two months and paying a point can get that rate locked in for 45 days.
The loan application process has gotten a lot harder and more complicated, but not only will it be easier if you know what you are getting into but also completely worth the effort to get these historical rates.
http://money.cnn.com/2009/04/17/real_estate/low_rate_loan.moneymag/index.htm?postversion=2009041711
PLEASE CHECK OUT OUR NEW PODCAST ON THE HOMEPAGE OF OUR WEBSITE http//:www.TonyandLibby.com
Homes In Portland Seem To Be Selling Faster
12755 SW 138th Ave, Tigard OR
Charming Rose Meadows traditional on very quiet street. Great home, great neighborhood, great location! This Lovely homes features hardwood floors, custom interior colors, dining room wainscotting , skylights, central air, open floorplan, large kitchen with center island & walk-in pantry. Very efficient use of space w/3 bedrooms & large bonus room. Private backyard with patio.
Historic Interest Rates & National Portland Exposure
This is a great story about how a bank passed on some of the federal bank bailout money to clients in the form of lower interest rates for home purchases. The Great Northwest Home Rush was sponsored by Community Financial Corp. and Banner Bank. The homes included, in what turned out to be one the biggest home shows in the area, were offered a 30 year fixed interest rate of 3.875% by Banner. The show ran for most of March. Half of this National CBS story was filmed in Portland.
HGTV
Hello, all:
At long last, the House Hunters special that I got to participate in, “House Hunters’ Guide to House Hunting”, is airing this Sunday, April 5th, at 8 PM EST. I would advise you all to check your local listings for specific times in your area, just in case, because sometimes the different cable or satellite providers air the shows at slightly different times.
PLEASE CHECK OUT OUR NEW PODCAST ON THE HOMEPAGE OF OUR WEBSITE http//:www.TonyandLibby.com
Recent Blog Posts
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Friday, May 4th, 2012
May marks the official beginning of the moving season, and is known as "National Moving Month". 10 Tips To Prepare Your Home to List
Tuesday, April 17th, 2012
Ten tips to prepare your home to list. Agency Info
Keller Williams Realty Portland Premiere
17700 SW Upper Boones Ferry Rd
Portland, OR 97224