Tigard Oregon Real Estate >> Wayne B. Pruner, GRI

Portland Oregon: 5 Things to Do in April 2008

Oregon Zoo - Packy's Birthday - The Oregon Zoo is noted for it's Asian elephant program. Come celebrate Packy's 46^th birthday on April 12^th.

OMSI - The largest collection of Chinese fossils is on display, featuring over 20 complete skeletons. After that, enjoy the planetarium, OmniMax Theater, and the science exhibits. All April.

Portland Saturday Market - Celebrating its 35^th year. Features handmade arts and crafts; food and entertainment too, from over 300 artisans. Portland Saturday Market

2008 Portland Auto Swap Meet - http://www.portlandswapmeet.com/ - Presented by six Portland Oregon area antique car clubs, The Portland Swap Meet is the largest auto parts swap meet on the west coast with approximately 4,200 vendor stalls and over 50,000 shoppers this April 4, 5, 6 at the Portland Metropolitan Exposition Center.

Go to a Blazer game. Rose Quarter - Brandon Roy is an All-Star! It's been a long time since we have seen Blazermania! The season is wrapping up and next year looks like it will be a good one.

Wayne B. Pruner is a Realtor® at Oregon First, who works in the Portland and Tigard, Oregon area. He is ready to help you with all your real estate needs. His phone number is 503-891-0795. Here are links to his real estate website and his real estate blog.

Are Portland and Tigard condos right for you?

Spring is upon us and buyers maybe considering purchasing a condo in Portland or Tigard. There is no doubt, that in the last few years, they have become a viable housing choice. They can be an affordable first home, a vacation retreat, or a desirable home for retirement. Whether you are buying a condo for your personal residence or for use as a rental, here are some issues to consider.

Condo Advantages

• A condo is usually less expensive that a similarly sized house.
• They appreciate in value, although usually at a lower rate than a single family home.
• They may offer amenities not available in single family homes.
• They enjoy all the tax benefits of homeownership.
• Exterior maintenance is the responsibility of the Condo Association.
• Condos offer more peace of mind on security issues if you are away for an extended period of time.
• A well run Condo Association, coupled with a desirable community atmosphere, will make your unit more saleable.

Condo Disadvantages

• You have to abide with the rules of the Condo Association.
• The monthly fees you pay could increase, even if you do not agree with the increase.
• Poor management may affect resale values.
• Your neighbors may make noise. Poor soundproofing is a major complaint with condos.
• Generally speaking, condos are more sensitive to trends in the real estate market than single-family homes. They are among the first to experience stagnant or declining appreciation and the last to recover.
• High fees, compared to other nearby condos, can hold down your market value and increase the time it takes to sell your unit.

As a condominium owner you share walls with your neighbors and you are buying all the space contained within those walls. Whatever square footage you have when you buy is what you have to live with. You only own the space within your walls and you cannot expand it, like in a single-family home. In addition, you share ownership of all areas outside of the walls. The land, exterior of the building, amenities, roads and sidewalks, and all common areas are owned by the condo association.

By choosing to live in a condominium, you are choosing to live within a community arrangement. You are living in close proximity to others and you will be sharing space with them. Meet the people who will be your neighbors. Find out what they like and dislike about the condos.

The Condo Association

Every unit owner is a voting member of the Association. You must abide by the majority decision. Owners elect a Board of Directors, who enforce the bylaws, handle maintenance and deal with disputes between owners. A well-run condo association can offer considerable benefits to owners. Someone else takes care of maintenance issues (outside of your unit) and pays for them. This frees up time that you would have to devote to exterior maintenance. The association may offer amenities that you cannot afford on your own, such as, tennis courts and swimming pools. You can expect to pay monthly association fees, in addition to your mortgage, to pay for the amenities, upkeep of common areas, and the management of the Association.

Association Rules

Condos are governed by a set of rules (bylaws) called CC&R's; Covenants, Conditions and Restrictions. As a unit owner, you are required to abide by these rules, whether you like them or not. Some examples are:

• Number of parking spaces you have.
• Number of visitors you can have
• Color of curtains in your windows
• Noise levels
• Pet restrictions
• Limits on the interior renovations
• Landscaping restrictions
• Renting units

Other key issues

Management: Is the association well run? Does management pursue discounts on repairs? Are the tenants happy with this management?

Reserve funds: Are there adequate funds to cover operating costs and repairs. Are there any future "special assessments", (costs in addition to monthly dues), planned for repairs or improvements. Example: If the roof needs replacing, and funds have not been previously allocated for this expense, a large special assessment can be levied on each owner. This could easily be thousands of dollars.

If you are buying a new condo, the developer may have set the monthly fees low to attract buyers. This is an indication that fees will increase in the future to cover operating costs.

Rental units: A low percentage (20 % or less) of rental units compared to owner occupied units is desirable. Also, when obtaining a loan, there may be requirements that the number of rental units be below a certain percentage.

Lawsuits: Are there any pending lawsuits against the Condo Association? Does the Condo Association have any pending or planned lawsuits against another party, such as, a builder or developer who did shoddy work?

When purchasing a condo, be sure to get it inspected, and carefully read the Sellers Disclosures. If you are buying a new condo, make the sale contingent on your approval of a professional inspection after the unit is completed.

Here is a different concern that I have had recent experience with that may be of interest to you in deciding to purchase a condo. It is quite common for new condo buildings to have retail space on the ground floor. I represented a restaurant in lease negotiations on a new, small development. After the restaurant opened, residents vigorously complained about noise and smell issues. They all bought their units knowing that a restaurant was going in. The restaurant was clean and was operating normally, but animosity developed against the restaurant. The other owners had not realized the impact a retail operation would have against their "ideal" living conditions. Also, the restaurant owners had no control over the subsequent increase in association fees after new Association management took over.

Condos are like any other real estate. Research the neighborhood and recent sales. Evaluate your future needs and what you can afford. Weigh the pros and cons and make your purchase decision.

Wayne B. Pruner is a Realtor® at Oregon First, who works in the Portland and Tigard, Oregon area. He is ready to help you with all your real estate needs. His phone number is 503-891-0795. Here are links to his real estate website and his real estate blog.

Portland Oregon: 5 Things to Do in March

Oregon Zoo - Zoo's Gone Wild Spring Break Party - Can't head for the tropics for Spring Break? Stop by Oregon Zoo instead. Wear your Hawaiian shirt and stroll around to tropical tunes. Keepers, volunteers and zoo staff have collaborated on a "vacation" chock full of activities that are just as fun for the animals as they are for the people. March 24 - April 8.

OMSI - The largest collection of Chinese fossils is on display, featuring over 20 complete skeletons. After that, enjoy the planetarium, OmniMax Theater, and the science exhibits. All March.

Energy Trust Better Living Show - Energy Trust of Oregon Balance and harmony through green building practices. Do what is right for the planet.

52nd Annual Portland Roadster Show
Presented by Multnomah Hot Rod Council at the Oregon Convention Center, 777 NE MLK Jr. Blvd, Portland
Fri - Sun, Feb 29th to Mar. 2nd, 2008

Go to a Blazer game. Rose Quarter - Brandon Roy is an All-Star! It's been a long time since we have seen Blazermania!

Wayne B. Pruner is a Realtor® at Oregon First, who works in the Portland and Tigard, Oregon area. He is ready to help you with all your real estate needs. His phone number is 503-891-0795. Here are links to his real estate website and his real estate blog.

Creative Selling of your Tigard Home

If you are trying to sell your home in Tigard now, you know that it is a buyer's market. You have been keeping the house in tip-top showing condition and you have selected a Realtor you are convinced is doing a good job of marketing your home in the places that buyers are likely to search for homes, but, coupled with the time of year and the current housing crisis, showings are down and buyers are scarce.

Any offer that does come in will most likely be less than what you want. If you have owned your Tigard home for three years or less, and need to sell, you can not expect to make much of a profit. If you have owned your home for more than three years, there is some wiggle room. Cherish any offer that does come in. These buyers have chosen your house, so you do have something to work with. It may be time to act "outside the box" and shake things up, provided that negotiations between the agents are going nowhere. Orchestrate the following or very similar scenario with your agent.

These are not ordinary times and you may have to take creative measures to get your house sold. Contrary to my usual advice in normal times, I suggest the buyer and seller meet in the house. This allows you to interject a personal connection into the negotiations. Take your time through this whole process. No posturing and no contrary opinions. This is an exercise in fact finding and cooperation. Your aim is for the buyers to invest some quality time with you. It's hard for them to say no to someone they like.

Set the scene with the smell of freshly baked cookies that you will serve with a beverage. Take them on a tour of the house again. Listen carefully as to why the buyers like your house and reinforce those sentiments with your complete agreement. Listen for other clues. Do they love the drapes or the throw rug in the entryway? Is there a particular painting they like? Answer in a positive fashion that "They could be included." Discover some incentives you can offer them to get the price up.

Find out if financing is holding them back. This may have already been discussed between the agents, however, your task is to get the buyers talking to develop trust and rapport in finding a solution to a common goal. If financing is an issue, you can help them with closing costs or a rate buy-down. This preserves some of their personal cash and might be all that is needed to make the sale. Would you spend a few thousand more dollars to get your house sold?

It is possible that the negotiations had stalled because the agents negotiating styles clashed or there was some underlying personal tension. If you have been close to making a deal, getting face to face with the buyer may solve what ever obstacles need to be overcome. There is no guarantee that this approach will work, but what do you have to lose by trying? These are uncertain times in the real estate market and imaginative solutions are required.

Wayne B. Pruner is a Realtor® at Oregon First, who works in the Tigard Oregon area. He is ready to help you with all your real estate needs. His phone number is 503-891-0795. Here are links to his real estate website and his real estate blog.

The Tigard Public Library reaches a Milestone

The Tigard Public Library checked out over one million items, for the first time ever, in 2007. This coveted milestone of the library staff was reached on Dec. 27, 2007. As reported in The Times, 1/31/2008, Tigard joins Beaverton, Cedar Mills and Hillsboro, as libraries that have circulated over one million items in a year.

I have lived in Tigard for 30 years and the community has always recognized the value of the library. The community has supported library bond measures and many people are volunteering to work there. Volunteers will even bring materials to patrons who can no longer make it to the library.

Since moving to its new location, less than two years ago, the library breaks records for use and circulation each month. Among the things to see and do at the library are live music events, book discussion groups for all ages, story telling events, watch a movie, family events, and computer classes. The new, park-like setting is popular with patrons, as it the coffee and donut shop in the lobby. The people of Tigard recognize the value a library brings to the community.

Wayne B. Pruner is a Realtor® at Oregon First, who works in the Tigard Oregon area. He is ready to help you with all your real estate needs. His phone number is 503-891-0795. Here are links to his real estate website and his real estate blog.