Affordability indices are at amazing levels, with homebuyers finding deals we haven’t seen in generations here in the Rogue Valley. One of the deals is a recently released Neighborhood Stabilization Program, up to $50,000 in funds that can be used to match/make down payment, pay closing costs AND repairs on a foreclosure home here in Medford Oregon. Do you think FIFTY THOUSAND DOLLARS in a zero interest “silent second” with no monthly payments might help YOU buy a home and keep your payments nice and low?
Per Krista Bolf, 2009 Rogue Valley Realtor of the Year, not long ago there were roughly 75 foreclosure homes for sale in the Rogue Valley for sale around $100,000. Now, there are around 25.
What are you waiting for Rogue Valley Home Buyers?!?!?! Call today and see how YOU may be one of those successfully closed sales using this program, or others that may be available to you! More are coming soon...
See you at the closing table!
Karen Cooper – OR/CA Mortgage Consultant – www.Quality4Loans.com
The long awaited day arrived Friday September 4, 2009 – the day Neighborhood Stabilization Program funds were released for eligible home buyers purchasing foreclosure homes. “Cancel going away plans for Labor Day Weekend, and rush right down to sign the application forms for the up to $50,000 in Neighborhood Stabilization Program funds” is what was told to the eligible home buyers I am working with who have all taken the steps to have their underlying financing approved, found an eligible foreclosure home, and had their offers accepted. And it paid off! Together, these buyers and I dropped what we were doing and made getting their applications in a priority working late Friday/Saturday so these diligent buyers beat the pack, and funds are reserved! The State of Oregon’s program is still reflecting “program pending”…but, not for long!
Want to find out how you can buy a home in Oregon using Neighborhood Stabilization Program Funds? Contact me...but don't wait long!
See you at the closing table!
Karen Cooper – OR/CA Mortgage Consultant – www.Quality4Loans.com
Here it is, end of Summer 2009, the talk of doom and gloom in the housing industry still pretty prevalent, and lo and behold, here comes a glimmer of light! Funny how life can work that way, don’t you think? Well here’s one of those “balancing act” kind of stories for you…
My family and I moved to Southern Oregon in 2004, when with the help of an amazing real estate broker we found the perfect business for my husband Roy to run, the perfect home for us to live in, and later the perfect rental property to help us leverage in to the eventual purchase of the commercial building our business was located in. Yes…this took place during “the bubble years”. Yes…we’ve had some major challenges along the way. Yes…we are still here!
Our 5 year lease came up on this commercial building in July 2009. We had been negotiating with the building owners to renew the lease and continue with the same option to purchase we had built in to our contract, although in this down economy with an “underwater” rental and home, we were not yet prepared to exercise that option. Being the proactive people Roy & I are, we launched renewal negotiations early on. Although we had come to believe the rent we were agreeing to pay on the commercial building was higher than the present economy and commercial real estate market really supported, to avoid “rocking the boat” we were prepared to continue to stay in the building this business was located in, even though it is located way off the beaten path. We had done our research, and knew we could find less expensive commercial buildings to rent, but it was our purchase option that hooked us in to staying.
Now, my philosophies are sometimes different from Roy’s. I believe God can work in mysterious ways, and the Lord had a hand in what came next in our story, as in everything else. When our negotiated commercial lease renewal and purchase option arrived from the building owners, it wasn’t the signed copy of the agreement we had made with the owners, it was a completely revised purchase option agreement – the purchase option agreement that was the reason for us staying put vs. relocating to a less expensive, better location. Any clause the sellers felt was not in their favor was changed to suit their needs. No discussion. No negotiations. Totally one-sided. Just take it or leave it. We left it, setting our fears aside about relocating this business in a down economy.
Off we went with our mission to find a new location. Roy was on a roller coaster ride during this process, having found a building that was on a main artery that although bigger than what we needed, could be divided. When that transaction did not come to fruition, Roy had a hard time moving forward with the hunt for the ideal locations – yes, we discovered that based on current commercial market prices we were going to be able to afford two locations for the price we had been paying for one location. Roy quickly found the new centrally located Ashland showroom location, and was trying to line up the ideal Medford location. Mid-stream, we took a fork in the road, and stopped focusing solely on available buildings on main arteries, and looked at possibilities that were close to main arteries. We could easily direct homeowners to a showroom one street away from a main artery, and once the contractors have been to the showroom one tiime, they know where to find us. On top of that, the showroom/warehouse we found in Medford was right across the street from a related business – Ferguson’s who sells plumbing, heating and electrical supplies – both located in the fasted growing commercial/industrial area of the Rogue Valley.
September 1, 2009, Superior Windows & Doors relocated to a more centrally located Ashland showroom location and to a brand new showroom/warehouse in Medford near the Rogue Valley International Airport off Vilas Road. We have a lot of “thank yous” that go out to the many many participants in this endeavor, from the homeowners and contractors who have kept us in business during these challenging real estate market times to the staff whose dedication and hard work we couldn’t do without… from the local real estate brokers (both commercial and residential) we consulted along the way to the many local businesses (Matt Bostwick Construction Medford, Jerry Toney Construction Ashland, Peter McBennett Construction, Signs Now Medford, KDRV Medford, Deluxe Awning and Adept Communications Southern Oregon) that jumped through hoops to help us meet a very short time frame. We thank each and every one of you from the bottom of our hearts (and anyone we may have missed in this list)! We couldn’t have done this without you!
And last, but never least, our thanks and love go out to Dean and Susie Truscott for the loving friendship and support that was the critical element in our success at Superior Windows & Doors AND our family’s relocation and settlement in to a new community we just love. We'll never forget what you have done for us.
We’ll be having our Chamber of Commerce Ribbon Cutting Ceremonies at 4 p.m. – September 11, 2009 for 300 E. Hersey in Ashland and September 25, 2009 at 1121 Helicopter Way in Medford… come see us, or stop by our booth at the Fall Home Show September 18-20. Or just stop by some time and shake the President's hand.
See you out there!
Karen Cooper – OR/CA Mortgage Consultant – www.Quality4Loans.com
After over five years living here in beautiful Southern Oregon, we are still making new discoveries all the time. New paths to take on walks and hikes. New streets to travel on to familiarize ourselves with the various neighborhoods here while discovering the different viewpoints here in the Rogue Valley. New shops/businesses to explore. All new to us, anyway.
We recently celebrated our 14th wedding anniversary. Since we had house guests at the time, we postponed our celebration until after they left. On Saturday, my hubby and I headed over to a restaurant we’ve wanted to try, having heard such wonderful things about them from people that have dined there before. Off to the Winchester Inn Restaurant we went! 
Centrally located in downtown Ashland, close to the Oregon Cabaret and Shakespeare Theaters and to the many wonderful and unique shops, where we could walk off some of the deliciously decadent calories we imbibed, Winchester Inn is located in a beautiful hillside setting, surrounded by lush gardens. Dining service is offered both inside and on the outside patio, but on this warm summer evening, we chose to dine inside. Our menu choices consisted of a starter of Peruvian Crab Cakes with pineapple salsa and jicama slaw; Winchester Caesar salad with Meyer lemon Caesar dressing, brindisi cheese crisp and roasted garlic croutons and a cold Passion Fruit Soup; main entrees of Juniper Berry Crusted Filet Mignon with a red wine reduction, horseradish and bacon mashed potatoes and grilled broccolini; all enjoyed with the red flight of wines and a mixed red &; white flight of wines and followed up with coffee and a wonderful chocolate pudding with raspberry sauce Drew Gibbs honored the occasion with. Such a marvelous combination of flavors in each choice paired with some award winning wines, and the filet just melted in our mouths.
A superb dining experience in a lovely setting… what more could one ask for? Make your reservations and head on over to this wonderful family owned:
Winchester Inn
35 S. 2nd St.
Ashland, Oregon 97520
541.488.1113
See you out there!
Karen Cooper – OR/CA Mortgage Consultant – www.Quality4Loans.com
Would you like to find out how you may use the City of Medford Oregon’s first time home buyer program? Are you a first time home buyer who earns less than 80% of the area median household income? Have you decided the time has come for you to purchase your own home instead of renting someone else’s? Have you been able to set aside $1,000 to do this with? Are you looking to buy in Medford? If your answer is “yes” to these questions, it’s pretty likely you are eligible for the City of Medford Oregon’s First Time Buyer Down Payment Assistance Program.
The City of Medford First Time Home Buyer Program is a “silent second” mortgage, meaning it has zero interest and no monthly payments, just sitting there until you sell, refinance or move out of this home. This helps eligible first time home buyers with matching down payment funds and closing costs up to a total of $15,000. This program would be used in conjunction with your primary mortgage, and requires the following:
You are eligible for this program if:
To qualify, the home to be purchased must:
The FHA Loan is a great first time home buyer program that can be used for the primary mortgage. Oregon Bond, when funding is available, is another great program that may be used with the City of Medford First Time Buyer Program.
The entry level price ranges (under $200,000) in the Rogue Valley real estate market have been very active, with buyers taking advantage of the many great programs available to them. Do you want to find out what you might be qualified for? Call or e-mail me for a free, no pressure consultation and see what tools you might be able to use for your home purchase. I’m familiar with the City of Medford First Time Buyer Program, as well as many others.
See you at the closing table!
Karen Cooper – OR/CA Mortgage Consultant – www.Quality4Loans.com
The Series:
How To Buy A Home in the Rogue Valley, Oregon | Using Neighborhood Stabilization Program Funds
How to Buy A Home In The Rogue Valley, Oregon | If You Are A Self-Employed Borrower
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