Stellar Realty Northwest

Some prospective buyers are concerned about buying because they're waiting for the "bottom". This generally causes a missed opportunity! To truly know when the bottom has hit, you have to be looking in the rear view mirror, because that means prices are already on the way back up. At that point, you've missed it. In order to be comfortable, buyers need to know that the bad times are over, but by waiting, you're likely buying 6-12 months AFTER the bottom. This means nobody can feel comfortable AND hit the bottom, they're mutually exclusive. If you're looking for a quick flip, the bottom timing is critical, however most buyers will stay in their homes for 5-7 years, so that means that the most important factors are finding a home you love AND getting a great loan product. If you've been waiting for the bottom, know that right now we're so close that you still have great negotiating power, especially this close to the holidays. If you are a student of building wealth, you'll know that "buy low sell high"is a basic economic model for the stock market AND REAL ESTATE. At the Mannila Besaw team we have access to great short sale listings (some real "deals"), and be sure to inquire about our auction program.

For the 6 of us on the Mannila Besaw team, we get this question all the time. The important thing that most people don't realize is that you need to have an "in" to be privy to the best "deals". If you understand that most of these NEVER hit the RMLS, then you'll know why having an agent as your advocate to bird dog these deals is so critical. These types of listings are called "pocket listings" and most times never make it to the MLS. Here's an example of one of our pocket listings that our team just closed: the homeowner needed to sell this house quickly, so before it even got put in the MLS we posted it on Craigslist for a quick close price. We got a buyer call the next day, showed it that night and wrote up an offer, which was accepted the next day. Since it was a cash deal we closed it the following business day. The seller was happy to have such a quick turn around and the buyer was happy to find such a great deal& have approximately $50,000-$70,000 of instant equity! If you're looking for a "deal", you may want to inquire about our other "pocket listings" or our auction program. Our auction program enables a prequalified financed home buyer to snag amazing deals at public auction. Our goal is to keep finding ways to help our buyers "FIND THOSE AWESOME DEALS!"

The home must be located in an " RD ELIGIBLE" area, you can find this by going to http://eligibility.sc.egov.esda.gov. It must be the ONLY real property owned by the owner listed on title, which means it must be your primary residence and NOT an income property. To qualify you must have a well/septic inspection, and the home must be certified to meet some specific HUD guidelines. One of the great elements of this loan program is that 100% of repairs may be financed based on "as improved" value (all work must be completed prior to closing). While this may seem like a lot of detail (and it would be if you were navigating it by yourself!) we at Mannila Besaw Group are well connected with the lenders who offer these favorable loan options and we are here to help you through the process. Our team includes brokers with mortgage and banking background, commercial real estate experience, as well as the increasingly important Lease Option information, and of course our short sale team is very busy right now. We love creative real estate!

If you're been thinking that NOW is a great time to purchase your first home you're correct. Prices are low and the selection is huge! You may also be wondering if you can qualify for a loan, and there's so much conflicting information out there it's hard to know who to believe. Here at the Mannila Besaw Group we are committed to educating our customers about what options are available, as it is an ever-changing finance climate. We post our blog articles on Tuesdays and Thursdays to keep you informed on the latest.

The first product we'd like to highlight is the USDA rogram, which will go UP TO 103% depending on the appraised value of the home. The great thing about this loan is that there's no down payment required, no monthly mortgage insurance, and there's no maximum on seller concessions.This is HUGE if you've only taken a look at conventional programs. One of the most appealing elements is that there is NO MINIMUM CREDIT SCORE, and no payment reserves required. The program also allows for gift funds (up to 100% from disinterested 3rd party!). Our team has partnered with several loan officers who offer this program, and we also have hard money lenders available for investors or for special situations.We would love to sit down and talk with you about what YOU need in the finance area, and then begin the process of finding the perfect home or investment property for you.

Everything in nature has a cyclical pattern: seasons, tides, aging, and REAL ESTATE. While this concept is something everyone KNOWS, we usually only care about how it's affecting US right NOW. What everyone wants to know is this: where are we in the cycle? Based on history, here's what we know: Since 1900 the average recession has lasted about 14 months; in the last 60 years it's lasted 10 months. For buyers who are waiting for "the bottom" before you buy, what happens if you MISS the bottom? It's like buying stocks; smart investors buy low and sell high, but the "low" is always a guess. Right now, prices for most homes on the market more than 4 months have already been reduced and they are priced to sell. We at Mannila Besaw Group would love to hear your opinions about whether you think the market is at the bottom. For people listening to popular media personalities who think they are qualified to give advise on Real Estate, remember this: Real Estate is a LOCAL business, and if you've heard Suzy Orman say "if a house is listed for $250K, you'd be an idiot to offer more than $125K", please know this is not the case in Portland. Our market is the 4th best market in the nation right now, and those types of offers are not being accepted here. In fact, our team now has 2 listings that are involved in a bidding war! That is the FIRST sign of a recovering market!We'd love to hear YOUR thoughts about investing in Portland, and if you haven't read the "Millionaire Real Estate Investor" please contact us to find out how to get your copy of the definitive book on how to buy smart Real Estate.