Aleigha Larrondo, B.S.

I try and educate myself on our current market situation by looking at a compilation of resources...

One source can be entirely correct, but to find validity in an opinion or perspective, I look at what others are saying too. Obviously, weigh out the source and it's credibility, but look at what's going on and where it's coming from...and most of all what they are accomplishing by reporting something...

This article is from RIS Media, and talks about the current reports between the AP and the NAR (National Association of Realtors).

READ THE ARTICLE HERE

I can't speak enough to the accuracy of this article...it discusses the perspective from both parties, as well as industry facts, and some key points and mistakes in the past couple of months with the "market crisis"...As I have said before here in this blog, is that it's all about YOU and YOUR situation (your finances, opinions, options, etc.).

Keep the focus on you and talk with many professionals...this way you have the most accurate picture of what is really going on with the market...

Hello All!

So I've decided everytime I read an article that is pertinent to the Portland market, I need to blog it! I spend most of my time talking with my clients, and sharing about the market, and what the latest is. But I need to stretch and spend some time each day to record my thoughts, as well as my observations about the market! So...I will spend a little bit of time this week putting up all of the articles that are important regarding the market truths or media stretches. Each of these pieces is important to the "market reality" because they both create the picture most consumers see...

This article was written a few weeks ago in The Oregonian, and made the front page! The article titled "Portland home prices stable while most cities slide" on November 28th, 07 made some interesting observations.

the article spends time explaining the reasons why the Portland market has sustained the "blow" that other markets have seen...so much so that Portland made one of only five major cities that reported rising home prices in September compared to the same month last year (2006). Portland was seeing a 2.2% change. Two above were Charlotte at 4.7% and our neighbor Seattle also at 4.7%..two below Atlanta at 0.4% and Dallas at 0.2%. The rest of the cities (as you can see in the article - link at the bottom of this blog) were all reporting a negative percentage, some up to 11.1%! Yikes!

Now all facts aside, I do understand that the market has undergone a change. The rapid speed and momentum that Portland had throughout 2007 has slowed towards the last couple of months...but by all means it is not in the condition that others are across the nation. There are some great points on how Portland has sustained the "blow", but i have a hard time looking at their predictions to 2008. Through the article, they interview various experts in the area or industry, and overall say that the market will be "flat" next year. As the article quoted that Freddie Mac's economist says that "flat is good when everyone else is going down". This is true.

There will be challenges...the mortgage market is a messy one, but it's one that is crucial to our economy as a whole. This means it won't go unnoticed...there will be answers (as we are currently seeing drastic moves to slow the momentum of the market - suggesting a freeze on rates, etc.). Yes, as the article notes, that there will be challenges, mainly because of the pool of buyers. But here's the bottom line: no one knows what will happen. We can forecast what we think might happen, but nobody knows for sure. If someone did, please me with them immediately...! But the truth is we don't...no one saw the severity of this subprime hit, no one saw how Portland could sustain it so well, and no one can see what next year will look like. I see rates going down (30 year fixed is hovering around 5.8%!) and there are drastic actions being taken to help the market. The housing market is so crucial, like I said, to the entire economy as a whole...it won't go unnoticed.

I suggest to my clients to look at their indiviudal situations closely. It's not a matter of listening to what everyone else says or tells you what to do...it's taking the facts for what they are, and taking them through your own criteria, through your own goals, and your own life choices. The importat thing is to look at your own finances, and look seriously at what you want, and how you can achieve it. Reality is every market changes, everyday...it's a matter of facts, risk and weighing out what's important. If you are looking for investment, your decisions will be different than a home for your family. This is where a team of people (lenders, agents, financial professionals...) can be very helpful in deciding what that market looks like for YOU.

Article Link..from The Oregonian 11/28/07
http://www.oregonlive.com/news/oregonian/index.ssf?/base/news/1196225735263460.xml&coll=7&thispage=1

Hello All!

Good news from The Oregonian today...the Rate Spotlight on the Business page was talking about the latest in Mortgage Rates...besides the One-Year Adjustable, rates went down significantly!

30-Year, Fixed:
5.96% this week, down from 6.10% last week

15-Year, Fixed:
5.65% this week, down from 5.86%

Five-Year Adjustable:
5.75%, down from 5.86%

One-Year Adjustable:
5.46%, up from 5.43%

If you would like to see about getting pre-qualified for a loan, please contact me! I would be more than happy to connect you with a respected, trusted lender to explore your options! This is a great time to buy, and the market has some great deals! Let me know if I can be of any assistance to you!

Aleigha
971.506.4458

"Déjenme empezar por decirles que no hay nada de que temer" Que no es un tiempo malo para comprar casa de hecho es buen tiempo, con los interese cada vez mas bajos y cada día el mercado con mas vendedores que compradores y la razón que a causado esto es una histeria provocada por los medios de comunicación y nadie mas.

Es cierto mucha gente esta perdiendo sus casa y eso no es nada bueno porque nadie merece perder su casa, pero para que esto pasara hay motivos. Uno de estos gran motivos son los propios bancos estuvieron aprovechándose del sueno y el deseo de la gente de tener su propia casa y estuvieron aprobando a gente que en estos momentos jamás calificaría para una casa de mas de $300.000 pero meses atrás calificaron y quedaron atrapados en estos prestamos arreglados de 80/20 y pagos por las nubes. El segundo de estos problemas es la gente, pero no culpo tanto a la gente porque mucha gente se dejo llevar por el sueno de poder brindar una casa a su familia, de este sueno se aprovecharon los bancos, pero el banco no es un lobo feroz porque para haber un lobo tiene que haber una presa y en este caso la presa fue la gente que al verse aprobados para un préstamo que excedía sus ingresos monetarios tomaron los prestamos. Las consecuencias ya todos las sabemos millones de personas perdiendo sus casas, a pesar de que mucha de esta gente hicieron los esfuerzos de su vida, tales como tener dos trabajos y tener que trabajar mas de 16 horas al día, no fue suficiente porque cuando fueron aprobados para estos prestamos tenían que haber estado haciendo el doble o hay casos que asta el triple de sus ingresos monetarios para calificar para uno de estos prestamos y fueron calificados sin estar haciendo estos ingresos convirtiéndose en presas de los bancos que aprobaban a cualquier persona sin tener los ingresos necesarios.

Pero esto que les acabo de comentar ya no esta pasando y no pasara por mucho tiempo a si que no tema a un lobo que ya no existe. Estamos aquí para servirle y contestar cualquiera de sus preguntas. Si tiene alguna duda o alguna pregunta será un honor para nosotros el aclararle y el educarle sobre la realidad del mercado de Bienes Raíces.

Para cualquier duda o pregunta, háganos el favor de comunicarse con su servidora Aleigha Larrondo

Celular: 971.506.4458

Hello All!

As I was taking a look at the Sunday Oregonian, the Business Section included a chart of Local Home Loan Rates that you might find useful! This is great information to you, as a potential buyer, because rates are falling, and with the challenges of the market, that means you not only get a better rate, but more home for your money!

Here's some of the information they provided:

Mortgages are based on $215,000 loans, 90% loan-to-value, up to 2 percentage points in fees. Monthly payments do not include property taxes and mortgage and homeowner insurance.

30-year Mortgage
Last Week Payment: (6.19%) $1,315.41
Two Weeks Ago: (6.22%) $1,319.60
3 Months Ago: (6.46%) $1,353.30

FOR MORE INFORMATION ON THIS AS WELL AS OTHER LOAN RATES AND OPTIONS...please contact me and I would be more than happy to forward you the full article! I also network with great lending professionals who can answer all of your basic to extensive questions!

When I read this article this morning in The Oregonian, it made my mouth drop!

Just last week I wrote a blog about this same subject...the influence of the Media, and to take its words with a "grain of salt". It seems like other industry professionals feel the same way...

Here is a link to the article from The Oregonian...I highly suggest you take a couple of minutes and read over the article. It's a "5 Questions" article...and what it concludes are the same thing I had written before: that yes, there is a downturn in the Portland Market, but the current conditions aren't as bad as the Media has been portraying.

If you have any questions, or would like to explore your options in buying or selling a home, please feel free to give me a call (971.506.4458)! I would be more than happy to assist you in looking at your unique situation, and finding a way to make your Dreams of selling or owning come true!

Este otro muy buen consejo que encontré en Univision online en mi búsqueda por traerles información valiosa que les pueda servir a ustedes como herramienta en su vida diaria. Y si necesita mas información por favor tenga la completa libertad de contactarme y yo con mucho gusto se la daré y la ayudare a planear su mudanza. Carlos Larrondo, celular 503.267.2334

En base a tu tiempo

Univision Online

Para muchos, mudarse de casa significa un dolor de cabeza. Pero afrontada con actitud positiva, la mudanza puede ser tomada como una oportunidad de cambio y no como un tormento.

Organízate con el calendario

Debes saber que los dos elementos esenciales a tomar en cuenta antes de una mudanza son: el tiempo y el presupuesto del que dispones.

Si conoces la fecha en que realizarás tu mudanza, puedes ir organizándote con tiempo. Ten en cuenta las fechas y disponibilidad -alta o baja temporada- en momentos de contratar una compañía de mudanza. El verano y las fechas cercanas a las fiestas suelen ser las más requeridas, complicadas y las más caras. Por otra parte, los principios de mes siempre son épocas de mayor trabajo, si quieres mudarte en esta época, trata de contratar a tu compañía con suficientes días de anterioridad.

Si puedes ser flexible, trata de no mudarte ni en los meses de verano ni a fin de mes. Algunas compañías cobran tarifas más elevadas para estas fechas.

Una vez que hayas reducido la cantidad de compañías de mudanza a las probables, ponte en contacto con ellas e infórmales sobre las fechas y destinos de tu mudanza y pídeles un estimado por escrito. Por otra parte, también diles que te expliquen en qué consiste cada uno de los servicios que ofrecen. Luego compara los estimados para decidir qué presupuesto es el que más se ajusta a tus necesidades y a tu presupuesto.

Es indispensable que como consumidor, te familiarices con la industria de mudanza para conocer bien tus derechos y tus responsabilidades a la hora de mudarte.

http://www.univision.com/content/content.jhtml?cid=848222

After much discussion and analysis with one of my clients, I noticed something that is riding heavy on every Buyer's mind...but most of all every Seller's mind: WHAT DOES THE BUYER'S MARKET STATISTICS MEAN TO ME?? This question is not only fair; it's very reasonable and should be pondered: this analysis shows me the foundation of an educated consumer. But what the Media is saying about Oregon's "Buyer's Market" is something that should be questioned. Now take my analysis for what it is: this might apply to you, yet it might not (depending on your financial situation, housing situation, etc). But providing "food for thought" from someone in the industry is always healthy...it allows for you to ensure whatever your opinion is YOURS, not what the MEDIA tells you...

Typically, Buyer's are happier in a "Buyer's Market", as they have more options at their feet. These options can include (but aren't limited to) a larger house inventory, lower home prices (than past statistics), more intricate offers are looked at more carefully...it's wrapped around the "more for your money" concept. I encourage every Buyer of mine to take a look at what they want, and why. If this is something that is reasonable for their lives (financially, emotionally...) then I highly suggest it! Rates are higher than they may have been, but in the bigger picture, I think, are reasonable, because look at the opportunity cost that's involved. You are able to have a place to call "home", you can decorate it any way you want, you can remodel it, it allows for tax breaks, you can invest in it, and most of the time yields an investment right back to you! Obviously, this would be a personal choice on your part as a Buyer (whether the rates are fair), but especially with prices coming down and getting that home at that "more for your money" price might be worth the second look!

But here's something that I think is overlooked: what about the Seller? Mr. Seller has a home that he wants to look into possibly selling, or turning into a rental property, or the like. What should Mr. Seller do in this Buyer's Market? The various mediums of media portray the same image: "if you sell your home, you won't get what you want for it because of the market prices, and it will sit on the market FOREVER, and it will bring you much frustration and you are STUCK!" But wait...let's look at something else.

First, I educate all of my Seller's in the same way:
(1) As your Real Estate Agent, I am here for you. If you would like to explore the option of putting your home on the market, I am more than happy to assist you. I as a Realtor have access to the resources that will help you...I have access to records, finances, history, my team of experts, etc. that help make a highly educated decision for YOU. This is not about me, this is about YOU. I will provide you all of the information I have, and together we can work towards a solution. The challenge here is pricing it right and understanding the pluses/minuses of putting it on the market now. But as an expert, and having access to a network of other experts in a variety of fields, your decision will be the right one for you.

(2)We can conduct a CMA or Comparative Market Analysis to see what your options with your home to see about pricing it if you do want to put it on the market, but this also opens the door the other way...what to do with it if you DON'T want to put it on the market.

(3) We can get you connected with the right lending professional to explore your options regarding the equity of your home. Possible re-finance? Maybe pulling the money out to buy an investment property! This way you are using the money to grow your retirement, portfolio, or asset list. There is a long list of things that can be done regarding the equity of your home, and when I connect you with the right lending professional, all of those options will be at your feet. Again, I am there every step of the way to ensure it's done, and you are the one walking away with the answers you need.

(And many people are looking at this option...look at the recent article published about the increase in Mortgage Application Rates!)

(4)The largest, most common misunderstanding regarding a "Buyer's Market" (especially from what I have researched and read lately) is not looking at the full spectrum of options. My job is to look at your Dreams, and help you attain them. That is what The Larrondo Team stands for. I have created this network of professionals for YOU. In looking at your Dreams, let's look beyond what the Media commonly says (which most are true depictions of the current market state) but look beyond this to see the rest of the options available to you. That's my job...to open up all of the options possible.

(5)If ever you have any questions about the Market, the current conditions, what the statistics are, etc., I am more than happy to provide them to you. My job is to keep up on what is going on...it's my profession, and as your trusted expert, it is critically important for me to keep on top of the current market conditions. This helps me help you more than you might be able to see. An experienced, knowledgeable agent is one who informs you, assists you, teaches you, and gets you to the place where you can achieve your Real Estate dreams! And THIS is where my passion is...to help you achieve your Dreams.

These points for my clients who are looking to sell, or thinking about it, are important because they are all about my clients. I want you to know, as a consumer, you have a lot of power! But fully understanding that power and then using it in the most productive, constructive and profitable way possible is my job as your Agent.

For many of my clients, as I said in the beginning, are looking at what the Media says and holding it too tightly in their hands. Yes, we need to look at what the Media says: a lot of times they report on interesting, factual, and important things. But my message...the point of this Blog...is to let you know that there are other options out there for you...and as your Agent, that's my duty, and your right to be informed.

If you are looking to buy or sell a home, please don't hesitate to contact me with any questions!

¡Hola en la búsqueda de traerles mas información a ustedes encontramos este articulo en Univision Online, que espero que sea de su agrado y lo puedan utilizar como un recurso en el futuro cercano!

http://www.univision.com/content/content.jhtml?cid=830502&parentid=830277

Cómo aumenta tu Equity


Casa, Univision Online

Como verás en el siguiente punto, es bueno que el valor líquido se incremente. ¿Y cómo se incrementa? Fácil: Cada vez que se hace un pago de la hipoteca.

La explicación

Por cada pago mensual, una porción de ese dinero se usa para pagar el interés vencido del préstamo y una porción se destina a cubrir el balance principal de la hipoteca. Cuando ese principal se haya pagado en su totalidad, la participación del propietario en ese valor crecerá.

Por otro lado, hay otras formas de incrementar tu Equity, por ejemplo, realizando algunas reparaciones o remodelaciones a tu casa.

Para lograr un aumento rápido del valor líquido, se deben hacer pagos más grandes de los establecidos mensualmente. Si la hipoteca se está pagando a tiempo y en forma y no hay ningún cargo extraordinario, cada vez que se hace un pago importante, la cantidad extra puede destinarse a cubrir ya sea el principal, los intereses o el "escrow" (que es la cantidad que el prestamista retiene por ti para el pago de impuestos).

Generalmente, tú puedes decidir el destino de ese dinero; sin embargo, tienes que informárselo con anticipación al prestamista. Previamente, investiga las políticas de tu institución de crédito sobre este tema.

¡Hola en la búsqueda de traerles mas información a ustedes encontramos este articulo en Univision Online, que espero que sea de su agrado y lo puedan utilizar como un recurso en el futuro cercano!

http://www.univision.com/content/content.jhtml?cid=830502&parentid=830277

¿Qué hace el agente inmobiliario?

Univision Online

Puedes iniciar tu búsqueda de forma particular, exclusivamente a través de avisos de periódicos e internet. En ese caso, deberás llamar tú por teléfono a los vendedores, dirigirte a ver las viviendas y arriesgarte a mirar casas que pueden no ajustarse a tus necesidades. Hay pocas ventajas de realizar la búsqueda por ti mismo, sobre todo partiendo del hecho de que la comisión de la venta al agente inmobiliario, la pagará el vendedor y no tú.

Por eso, te recomendamos la segunda opción: dirigirte a una agencia inmobiliaria, en donde te asignarán un agente.

Especialistas reales

El agente inmobiliario es un especialista en compras y ventas inmobiliarias que te ahorrará el tiempo que usas para leer avisos clasificados. Tú le dices qué buscas y él te llamará para hacerte ofertas. Puedes pedir que hable español para que los términos queden claros, ya que debes comprender perfectamente qué te ofrece y en qué condiciones.

El agente cobra por su gestión, por eso debe quedar claro a quién representa. Si vas a una inmobiliaria y cada casa te la muestra un agente distinto, debe decirte claramente que representa los intereses del vendedor. En ese caso, considera que siempre intentará tasar mayor precio y que los gastos de su gestión serán pagados por quien vende sobre el precio del inmueble.