Wilsonville, OR

TriMet is holding an essay contest for anyone interested in sharing what their commute experience will be like aboard Westside Express Service (WES) Commuter Rail serving the Portland, Oregon metropolitan area’s west side – from Wilsonville to Beaverton.

Now is your chance to tell TriMet how you'll get to and from WES and what you'll do once on board!

All participants will be entered into a drawing to win an invitation to a preview ride on WES and an All-Zone Monthly Pass Essays must be 100 words or less and must be received at TriMet by 5 p.m. on Tuesday, December 9, 2008.

For all contest rules, please visit the TriMet website.

A transit-oriented community, Villebois offers residents easy access to the new WES Station in Wilsonville. Imagine the ease of living in a community that allows you to avoid rush-hour traffic and get to work on time! Not to mention, you’ll feel good knowing you’re reducing your carbon footprint by spending less time on the road.

To learn more about WES, please visit trimet.org/wes.

For information about Villebois’ easy access to the Wilsonville transit station, please contact me at: Blog@CostaPacific.com or 503.855.4661.

Andy Green Costa Pacific Homes, LLC Villebois Village Center Email Me at: Blog@CostaPacific.com Visit us on the web at: www.Villebois.com

We will be holding a Sneak Preview Event on November 20, 2008 from 4 to 7 p.m. at Villebois Village Center sales office located at 11422 SW Barber Street, Wilsonville, Oregon 97070. We would love to see you there!

Take a private tour with our on-site experts in Wilsonville, Oregon’s newest community and discover the wonder of living in Villebois. Explore the quality construction and upscale amenities of the NEW Seville Rows and The Carvalho Condominiums at the Villebois Village Center. Picture yourself living here.

This invitation has been extended to only a select few who have expressed interest in seeing the first homes available in the hub of Costa Pacific Homes’ award-winning community. Join us for an evening of refreshments and socializing. You will even have the opportunity to enter a drawing for a $200 Macy’s gift card to help you get a jump on your holiday shopping!

To RSVP, please contact me today at Blog@CostaPacific.com or 503.855.4661.

Andy Green Costa Pacific Homes, LLC Villebois Village Center

Email Me at: Blog@CostaPacific.com

Visit us on the web at: www.Villebois.com

We are looking forward to opening the doors of the nearly completed Seville Rows in the Villebois Village Center.

Priced between $484,000 and $583,675, the Seville Rows offer residents a townhouse-style home with open and airy spacious floor plans, ranging in size from 2,005 to 2,321 square feet. The homes feature bonus rooms, two-car garages, a third bathroom, lofted space and additional storage for all your needs.

If you are interested in seeking more information about these properties, please contact me today at Blog@CostaPacific.com or 503.855.4661.

Andy Green Costa Pacific Homes, LLC Villebois Village Center Email Me at: Blog@CostaPacific.com Visit us on the web at: www.Villebois.com

Rudy Kadlub, our CEO at Costa Pacific Communities, joined several other industry leaders in Anaheim, California, last week to judge The Nationals 2009, a sales and marketing awards competition conducted each year by the National Sales and Marketing Council (NSMC), which is a division of the National Association of Home Builders (NAHB).

As a Life Director of the NAHB and a past chair of the Sales and Marketing Council, Rudy has dedicated his career to the home-building industry and in turn, to leveraging his expertise and become involved in events like The Nationals. This is the fifth year he has judged the competition.

With 27 years of experience, Rudy has achieved a great deal of success in a sales and management capacity as well as in his ability to create trend-setting, award-winning communities.

Rudy’s professional achievements and community involvement include:

• National Association of Home Builders (NAHB), Life Director
  
• Home Builders Association of Metropolitan Portland, Developer of the Year (twice)
  
• Home Builders Association of Metropolitan Portland, Past President
  
• NAHB Sales and Marketing Council, Past Chair
  
• NAHB Bill Molster Marketing Award Recipient
  
• Institute of Residential Marketing (MIRM), Member
  
• Urban Land Institute, Neighborhood Development Council
  
• Home Builders Foundation of Metropolitan Portland, Chairman
  
• Portland Chapter of HomeAid America, Chairman
  
• Congress for the New Urbanism, Member
  
• 1000 Friends of Oregon, Developer of the Year
  

Under Rudy’s leadership, at Costa Pacific we have earned more design and marketing awards than any other developer/homebuilder in the Pacific Northwest. We co-developed Orenco Station, a 1,834-home, transit-oriented mixed-use community in Hillsboro, Oregon, that was named Master Planned Community of the Year by the National Association of Home Builders (NAHB) in 1999.

We are currently developing Villebois, a European-inspired complete community located in Wilsonville, Oregon, which will accommodate nearly 2,700 homes, restaurants, shops, schools and services. Homes in the 42- acre Villebois Village Center are currently under construction.

Two of our newest housing products are the Carvalho Condominiums and the Seville Rows. With direct access to the heart of the community, these new homes offer a carefree lifestyle in both three-story townhome-style and one-level flat designs. Ranging in size from 1,291 to 2,321 square feet, the two home styles boast distinct two bedroom floor plans priced between $320,000 and $583,675.

If you would like more information about Costa Pacific Communities or the homes under construction in the Villebois Village Center, please contact me at: Blog@CostaPacific.com or 503.855.4661; or visit Villebois.com.

Financing is such a hot topic right now. With financing option diminishing, consumers don't know what options are available for purchasing a home, even with good credit. Using FHA financing has become very popular in this market, and for those who want a quick reminder, following is some information to help you decide if this financing might be a consideration for your next purchase.

With all the restrictions on Conventional loans over 80%, FHA has become a major player in our marketplace, both for purchases and refinances. This is partly due to the flexibility, allowing people with credit-challenges to be financed (even a 580 credit score), but mostly due to the low down payment requirement (3%), which can be entirely gift funds.

I wanted to point out some of the significant changes in the works for FHA loans, both purchase and refinances.

Here's a summary:

1) The UFMIP (Up-Front-Mortgage-Insurance-Premium) has been increased from 1.5% to 1.75%. What is this? It's a percentage of the loan amount that is financed in the loan. Helps keep the monthly Mortgage Insurance cost lower than it would have been otherwise, and subsidizes the entire program. Everyone pays this in their loan, regardless of loan-to-value, or credit. In the future, we may go to a tiered system, but that was put on hold for now.

2) The minimum downpayment for FHA loans will eventually increase to 3.5% from the existing 3%. This was technically passed already, but held off until January 1, 2009, due to the sagging economy.

3) Cash-out refinances will be limited to 85% LTV. Currently, you can pull cash-out of your home up to 95% LTV.

Comments from one loan investor source: "FHA has traditionally been max 85% cashout. In late 2005 they decided to allow 95% cashout. They have had a 3 year run and not a very good experience as far as performance on these loans. That, coupled with the current housing market, etc, is causing serious debate among the powers-that-be to drop back to the 85% cash out limit. Again, it's not a done deal but if I needed the 95% cashout I'd get it done by the end of the year to be on the safe side, as this will likely be changed in the very near future."

Bottom line ... if you need to pull cash out of your home over 85% LTV, then it needs to be done now! With Conventional cash-outs capped at 80% LTV, and few other options, this is your only way to pull up to 95% cash out of your home.

For a referral to a reputable lender, please contact me. Knowing the right people to work with is key in this market.

For a referral to a reputable lender, please contact me. Knowing the right people to work with is key in this market.