Tuesday, July 21, 2009
Monday, July 13, 2009
Saturday, July 11, 2009
Monday, June 22, 2009
ROCA MAR - PRICE REDUCED! RESTAURANT & LOUNGE BUSINESS & REAL ESTATE OPPORTUNITY! http://ping.fm/NLZpv
Friday, June 12, 2009
Wednesday, June 10, 2009
Wednesday, June 3, 2009
Monday, June 1, 2009
Friday, May 15, 2009
The Rhododendron Festival May 2009
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The Rhododendron Festival May 2009 The 102nd Rhododendron Festival gets underway Friday in Florence bringing in twenty thousand visitors to the coastal town. There will be everything from carnival rides to good food.
The three day event comes to an end on Sunday with the Grand Floral Parade.
This Weekend!
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Thursday, May 14, 2009
The 2009 Rhody Run
There's been changes to the 2009 Rhody Run. Download the new course map here. To download the application, click here. And, here is a poster you can display in your storefront window.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
History of the Rhododendron Festival
There have been some changes to Florence since the first Rhododendron Festival of 1908. Click here for the exciting details...
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Friday, January 9, 2009
What's In, What's Out with Home Buyers in 2009?
by Mark Nash
What's IN
Sidelined home buyers. Family or lifestyle additions or changes made in buyers households in the last three years are forcing those waiting out the market transition to finally get off the fence and say, it's time for our family to buy the new home that suits our new needs.
Home uplifts. Not a big renovation, but some new finishes that can visually holdover stay-put home sellers. Not a gut rehab to the studs new kitchen, but new flooring, countertops and appliances.
Collaborative home pricing. The old days of home sellers configuring a homes price are out. What's new is that the seller with their agent look at closed comparables, set a price, then the buyer and their agent agree or disagree, but in the end, a mortgage lender and their appraiser will set the price, as they are assuming the most risk in the transaction.
Balanced reporting by real estate and personal finance journalists. Consumers learned in 2008 that the 'doom and gloom" residential real estate market headlines don't apply to all markets. What's been lost in the foreclosure hype is that there are still stories of homes selling in short market times (in as little as 3 days), homes selling at full price and some selling with multiple contracts on the table. Existing home sales will be 5.02 million versus 5.652 million for 2007, a decrease of just over eleven percent, considerably less that the recent correction in the U.S. stock market, plus a realistic view that over five million people purchased a home despite the headlines in 2008.
Creative home seller financing. Exhausted home sellers are turning to self-financing to move properties. Installment sale contracts and lease to own are the most popular and effective ways for sellers to begin to receive income from a property that has languished on the market in 2008.
Real estate agents as a housing resource not a salesperson. New-age real estate agents help consumers through the home sale or purchase process which takes a skilled agent who is not driven by sales, but by providing resources to help the consumer determine if they should buy or sell a home. Home ownership is not for everyone. Factors such as a job move in 3 years or less, marginal credit and lack of interest in home maintenance can be reasons for a resource-driven agent to advise their client not to buy.
Property tax appeals. With home prices dropping, many savvy home owners are appealing their property taxes. This is especially attractive to those looking to sell their home in 2009. With a competitive marketplace, those with the most realistic taxes are more likely to offer buyers an overall lower expense in home ownership.
House therapists. Divided partners in a home are increasingly relying on an independent third party (house therapist or coach) to bring household relationships to common ground on such prickly issues such as to stay or move, how much to spend on remodeling or decorating, or spending nothing at all. Third parties can outline the benefits and pitfalls of over-spending on a new larger home or weighing in on a spouses desire to over-improve for the neighborhood. With less equity and with the financial stakes higher smart couples hire a home therapist to wrangle concessions and agreements out with their significant other instead of doing damage to their relationship by going head-to-head with them.
Architectural overhead garage doors. After years of bland vanilla garage doors, the architecture has permeated the door most people look at the most. Traditional styling has arrived with mullioned windows, faux wrought iron hinges and latches that provide the original non-overhead garage door look. Contemporary looks now include the adjacent siding applied over the door for a seamless look, much like the panels installed on refrigerator doors to complement cabinets in a kitchen.
Loveseats. A pair or trio is gaining acceptance as the functional way to rearrange a living or family room. Consumers appreciate the ease at which they can rearrange them, move an extra one to another room, or provide long-term furniture flexibility in future homes. Plus, they're tired of sitting miles away from others on over-sized sectional sofas.
The master bed as a throne. With consumer spending down and more nesting at home, home owners are focusing on making their bed like an at-home luxury hotel experience. Posh linens, pillows and mattresses create a getaway without leaving home.
Older war-horse appliances. Collectable, working appliances form the 1940's through the late 1980's have found a new niche among homeowners who appreciate their rock-solid construction and durability. Harvest gold double ovens from the 1970's have been repainted a metallic red and go from boring to bold. Cold spot refrigerators from the 1950's refinished in sky blue perks up the butler’s pantry in suburban home. And, the early 1960's dryer that looks like it's from a Jet son house painted pink to match punches up the in-unit laundry room in a condominium.
Dining chairs that don't match. With consumers watching their non-essential spending closely and electing to stay home to entertain friends, many have found a quick pick-me-up for their dining room suite, mismatched pairs or single chairs. Feedback from friends or family has been favorable to this easy and cost effective way to say welcome to my cutting edge table.
Obama era paint colors. President elect Barak Obama will add a fresh, younger and forward-looking feel to residential interior paint decor in the spaces at The White House where he and future First Lady Michelle have a say. Look for parchment whites, cashmere yellows, bright optimistic blues and radiant gold’s. Depressing Bush era colors such as plum, chocolate brown, rusty mustard and pale sage will gladly be replaced by more optimistic colors in American homes.
What's OUT
Fixer-upper homes. With larger down payments required by mortgage lenders and consumer credit cards mixed out, home buyers want a home in move-in condition. The DYI days are on the wane as buyers want to inherit new kitchens and bathrooms.
Foreclosure fluff. The foreclosure rate nationally in 2008 was just under 3 percent. In the Great Depression it was just over forty-percent.
Home buyers endless "circling" prospective short-list properties. Overly optimistic thinking by buyers to circle a preferred property indefinitely, often for months, waiting for further price reductions or to wear out long weary sellers. This practice has backfired for buyers who practice this style of pre-negotiating. They often loose their short-list dream home and frustrate savvy price-right sellers. Ditto the bottom-feeder buyers.
Real estate agents that started career in the boom. It was easy for any new real estate agent to have instant clients during the boom years. After all, they thought the business was about order (contracts) taking. Now they've realized they didn't build a long-term client base during the boom or acquire knowledge about servicing client’s needs in a not-so-easy market.
Home staging. A recently over-used low cost marketing band-aid for vacant or occupied homes with longer than normal market times. Buyers have said enough of the non-professional usage of assorted leftover props placed around a for-sale home to make it supposedly homey. Buyers say, market it as it is and clear out the tired silk flowers and stale potpourri.
Indoor-outdoor carpet. The staples of quick-fix home sellers for basements, balconies, screened porches and lanai’s, buyers have said enough. Many have told agents that inexpensive indoor-outdoor carpet is visual pollution and often masks flaws in a home.
Track lighting. Thought of by homeowners to be a quick way to get an art gallery look, many prospective buyers usually take them out and discount their appeal. As one Gen-X home buyer said to me "Why do sellers install them up when they don't really have any interesting artwork or architectural features to spotlight? They bring undue attention to nothing."
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
What's IN
Sidelined home buyers. Family or lifestyle additions or changes made in buyers households in the last three years are forcing those waiting out the market transition to finally get off the fence and say, it's time for our family to buy the new home that suits our new needs.
Home uplifts. Not a big renovation, but some new finishes that can visually holdover stay-put home sellers. Not a gut rehab to the studs new kitchen, but new flooring, countertops and appliances.
Collaborative home pricing. The old days of home sellers configuring a homes price are out. What's new is that the seller with their agent look at closed comparables, set a price, then the buyer and their agent agree or disagree, but in the end, a mortgage lender and their appraiser will set the price, as they are assuming the most risk in the transaction.
Balanced reporting by real estate and personal finance journalists. Consumers learned in 2008 that the 'doom and gloom" residential real estate market headlines don't apply to all markets. What's been lost in the foreclosure hype is that there are still stories of homes selling in short market times (in as little as 3 days), homes selling at full price and some selling with multiple contracts on the table. Existing home sales will be 5.02 million versus 5.652 million for 2007, a decrease of just over eleven percent, considerably less that the recent correction in the U.S. stock market, plus a realistic view that over five million people purchased a home despite the headlines in 2008.
Creative home seller financing. Exhausted home sellers are turning to self-financing to move properties. Installment sale contracts and lease to own are the most popular and effective ways for sellers to begin to receive income from a property that has languished on the market in 2008.
Real estate agents as a housing resource not a salesperson. New-age real estate agents help consumers through the home sale or purchase process which takes a skilled agent who is not driven by sales, but by providing resources to help the consumer determine if they should buy or sell a home. Home ownership is not for everyone. Factors such as a job move in 3 years or less, marginal credit and lack of interest in home maintenance can be reasons for a resource-driven agent to advise their client not to buy.
Property tax appeals. With home prices dropping, many savvy home owners are appealing their property taxes. This is especially attractive to those looking to sell their home in 2009. With a competitive marketplace, those with the most realistic taxes are more likely to offer buyers an overall lower expense in home ownership.
House therapists. Divided partners in a home are increasingly relying on an independent third party (house therapist or coach) to bring household relationships to common ground on such prickly issues such as to stay or move, how much to spend on remodeling or decorating, or spending nothing at all. Third parties can outline the benefits and pitfalls of over-spending on a new larger home or weighing in on a spouses desire to over-improve for the neighborhood. With less equity and with the financial stakes higher smart couples hire a home therapist to wrangle concessions and agreements out with their significant other instead of doing damage to their relationship by going head-to-head with them.
Architectural overhead garage doors. After years of bland vanilla garage doors, the architecture has permeated the door most people look at the most. Traditional styling has arrived with mullioned windows, faux wrought iron hinges and latches that provide the original non-overhead garage door look. Contemporary looks now include the adjacent siding applied over the door for a seamless look, much like the panels installed on refrigerator doors to complement cabinets in a kitchen.
Loveseats. A pair or trio is gaining acceptance as the functional way to rearrange a living or family room. Consumers appreciate the ease at which they can rearrange them, move an extra one to another room, or provide long-term furniture flexibility in future homes. Plus, they're tired of sitting miles away from others on over-sized sectional sofas.
The master bed as a throne. With consumer spending down and more nesting at home, home owners are focusing on making their bed like an at-home luxury hotel experience. Posh linens, pillows and mattresses create a getaway without leaving home.
Older war-horse appliances. Collectable, working appliances form the 1940's through the late 1980's have found a new niche among homeowners who appreciate their rock-solid construction and durability. Harvest gold double ovens from the 1970's have been repainted a metallic red and go from boring to bold. Cold spot refrigerators from the 1950's refinished in sky blue perks up the butler’s pantry in suburban home. And, the early 1960's dryer that looks like it's from a Jet son house painted pink to match punches up the in-unit laundry room in a condominium.
Dining chairs that don't match. With consumers watching their non-essential spending closely and electing to stay home to entertain friends, many have found a quick pick-me-up for their dining room suite, mismatched pairs or single chairs. Feedback from friends or family has been favorable to this easy and cost effective way to say welcome to my cutting edge table.
Obama era paint colors. President elect Barak Obama will add a fresh, younger and forward-looking feel to residential interior paint decor in the spaces at The White House where he and future First Lady Michelle have a say. Look for parchment whites, cashmere yellows, bright optimistic blues and radiant gold’s. Depressing Bush era colors such as plum, chocolate brown, rusty mustard and pale sage will gladly be replaced by more optimistic colors in American homes.
What's OUT
Fixer-upper homes. With larger down payments required by mortgage lenders and consumer credit cards mixed out, home buyers want a home in move-in condition. The DYI days are on the wane as buyers want to inherit new kitchens and bathrooms.
Foreclosure fluff. The foreclosure rate nationally in 2008 was just under 3 percent. In the Great Depression it was just over forty-percent.
Home buyers endless "circling" prospective short-list properties. Overly optimistic thinking by buyers to circle a preferred property indefinitely, often for months, waiting for further price reductions or to wear out long weary sellers. This practice has backfired for buyers who practice this style of pre-negotiating. They often loose their short-list dream home and frustrate savvy price-right sellers. Ditto the bottom-feeder buyers.
Real estate agents that started career in the boom. It was easy for any new real estate agent to have instant clients during the boom years. After all, they thought the business was about order (contracts) taking. Now they've realized they didn't build a long-term client base during the boom or acquire knowledge about servicing client’s needs in a not-so-easy market.
Home staging. A recently over-used low cost marketing band-aid for vacant or occupied homes with longer than normal market times. Buyers have said enough of the non-professional usage of assorted leftover props placed around a for-sale home to make it supposedly homey. Buyers say, market it as it is and clear out the tired silk flowers and stale potpourri.
Indoor-outdoor carpet. The staples of quick-fix home sellers for basements, balconies, screened porches and lanai’s, buyers have said enough. Many have told agents that inexpensive indoor-outdoor carpet is visual pollution and often masks flaws in a home.
Track lighting. Thought of by homeowners to be a quick way to get an art gallery look, many prospective buyers usually take them out and discount their appeal. As one Gen-X home buyer said to me "Why do sellers install them up when they don't really have any interesting artwork or architectural features to spotlight? They bring undue attention to nothing."
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Thursday, January 8, 2009
Selling Your Home in a Declining Market
by Richard Daskam
Selling a home in a declining market starts with a proper attitude and finding the right Realtor® who is optimistic and knows the right sales techniques in this tough market. Even though most people and economists are down on the housing market (feel it is depressed, that the economic recovery isn't going to happen in the next few months, and consumer confidence is down), it doesn't mean that you can't sell your home.
The truth of the matter is many people will sell their homes between now and this summer. While many sellers and real estate agents take a reactive approach to market conditions, those sellers who take a more proactive and realistic approach to the market will be the ones who sell their homes. These are the sellers who take advantage of this market and move up to their dream home! First, be honest about appraising the condition of your home.
The key to successful selling in a 'declining market' is pricing your home at today's market value, having your home in tip-top condition and being able to work with a prospective buyer on financing needs and terms. Don't let your ego or pride get in the way when determining a price for your home. Put yourself in the buyer's shoes and walk across the street. Curb appeal to a new buyer is a very important and is many-times overlooked.
Secondly, take a leisurely walk through your home jotting down the little things you might do to spruce it up. New carpeting, a fresh coat of paint, new light fixtures, mirrors, etc., are items that will give your home more emotional appeal and does not cost too much. Put away the clutter throughout the home. Rooms free of clutter will appear bigger and the new buyer can visually 'move into' your home much easier. Remember, new buyers are not buying your furniture.
Finally, be patient. The real estate market has changed considerably since the last run-up where homes sold in hours or days. We are now experiencing a more "normal market" where homes take 90-120 days to sell. Remember, inventories are at an all-time high right now. Bank foreclosures are all around you and many buyers will have difficulty qualifying for a new loan. Lenders also have very strict guidelines now and consumer confidence is very low. Allowing for a normal marketing period will do a lot to alleviate your impatience when you have few showings of your home or a lack of offers to review.
A good Realtor® will keep you abreast of market changes, activity on your home and others in the neighborhood, while maintaining a "teamwork" concept that is paramount for a successful sale. Properties need ample time to be exposed to the public and finding the right buyer requires a good understanding of the market as well as sales values. In all honesty, there are no easy answers but one thing is for certain, even in the worst markets, there are people selling homes and taking their equity!
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Selling a home in a declining market starts with a proper attitude and finding the right Realtor® who is optimistic and knows the right sales techniques in this tough market. Even though most people and economists are down on the housing market (feel it is depressed, that the economic recovery isn't going to happen in the next few months, and consumer confidence is down), it doesn't mean that you can't sell your home.
The truth of the matter is many people will sell their homes between now and this summer. While many sellers and real estate agents take a reactive approach to market conditions, those sellers who take a more proactive and realistic approach to the market will be the ones who sell their homes. These are the sellers who take advantage of this market and move up to their dream home! First, be honest about appraising the condition of your home.
The key to successful selling in a 'declining market' is pricing your home at today's market value, having your home in tip-top condition and being able to work with a prospective buyer on financing needs and terms. Don't let your ego or pride get in the way when determining a price for your home. Put yourself in the buyer's shoes and walk across the street. Curb appeal to a new buyer is a very important and is many-times overlooked.
Secondly, take a leisurely walk through your home jotting down the little things you might do to spruce it up. New carpeting, a fresh coat of paint, new light fixtures, mirrors, etc., are items that will give your home more emotional appeal and does not cost too much. Put away the clutter throughout the home. Rooms free of clutter will appear bigger and the new buyer can visually 'move into' your home much easier. Remember, new buyers are not buying your furniture.
Finally, be patient. The real estate market has changed considerably since the last run-up where homes sold in hours or days. We are now experiencing a more "normal market" where homes take 90-120 days to sell. Remember, inventories are at an all-time high right now. Bank foreclosures are all around you and many buyers will have difficulty qualifying for a new loan. Lenders also have very strict guidelines now and consumer confidence is very low. Allowing for a normal marketing period will do a lot to alleviate your impatience when you have few showings of your home or a lack of offers to review.
A good Realtor® will keep you abreast of market changes, activity on your home and others in the neighborhood, while maintaining a "teamwork" concept that is paramount for a successful sale. Properties need ample time to be exposed to the public and finding the right buyer requires a good understanding of the market as well as sales values. In all honesty, there are no easy answers but one thing is for certain, even in the worst markets, there are people selling homes and taking their equity!
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Wednesday, January 7, 2009
Negotiation Tips
Successful negotiations have common threads. Remember these tips to get the most out of your negotiation:
Don't get insulted if the seller doesn't accept your offer or comes back with a high counter offer. It's natural for the seller to want to make as much as possible.
The members of both parties should feel like winners in the end.
Make your counter offer show movement. This demonstrates a willingness to deal.
Make sure you understand the priorities of the sellers. Your counters can focus on the higher priorities. Those that carry less weight can be used to compromise.
Quantify problems. Repairs or concessions should have a dollar value on them and not be left open ended.
Isolate major issues by getting agreement on all other points. This allows the negotiation to be just one item away. Then all energies can focus on the one final obstacle.
The earnest money shows how serious you are. Since earnest money is applied to costs at closing, don't scrimp on the earnest money at the time you write the offer.
Make sure what you want is put in writing. Count on nothing that is negotiated verbally.
Depend on your sales professional for negotiation counsel.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Don't get insulted if the seller doesn't accept your offer or comes back with a high counter offer. It's natural for the seller to want to make as much as possible.
The members of both parties should feel like winners in the end.
Make your counter offer show movement. This demonstrates a willingness to deal.
Make sure you understand the priorities of the sellers. Your counters can focus on the higher priorities. Those that carry less weight can be used to compromise.
Quantify problems. Repairs or concessions should have a dollar value on them and not be left open ended.
Isolate major issues by getting agreement on all other points. This allows the negotiation to be just one item away. Then all energies can focus on the one final obstacle.
The earnest money shows how serious you are. Since earnest money is applied to costs at closing, don't scrimp on the earnest money at the time you write the offer.
Make sure what you want is put in writing. Count on nothing that is negotiated verbally.
Depend on your sales professional for negotiation counsel.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Tuesday, January 6, 2009
Your Property Search - Your Basic Search
The website is a powerful tool in the home search. It allows you to focus on properties with the closest match to your criteria and helps you prioritize properties. It also minimizes time wasted on properties that are not real contenders.
The first step in harnessing the power of the site is to set your criteria for the home search. The best way to find out what's available in an area is to start with a broad search and then narrow in. You may be looking for a home in a specific area in a certain price range. You should resist getting too specific in this first phase of setting your criteria, so you don't prematurely eliminate any properties.
If the basic search (area and price) returns an excess number of properties, then it is time to limit the search. You can do this by changing either the price or limiting the area. This then should return a more manageable number of homes to consider. If the search returns too few properties, then broaden the area, price range, or change your optional criteria.
By starting broad and then narrowing, you minimize the risk of missing a home that might be perfect. The properties on the site are downloaded directly from the local Multiple Listing Service(s) (MLS). Many different sales professionals input data into the MLS(s). Thus there can be a lot of interpretation about how to input amenities. For example, one sales professional might consider a home to have four bedrooms while another might consider it to have three bedrooms plus a study. Perhaps for your family either interpretation could work. By starting broad you would not risk ruling out one over another.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
The first step in harnessing the power of the site is to set your criteria for the home search. The best way to find out what's available in an area is to start with a broad search and then narrow in. You may be looking for a home in a specific area in a certain price range. You should resist getting too specific in this first phase of setting your criteria, so you don't prematurely eliminate any properties.
If the basic search (area and price) returns an excess number of properties, then it is time to limit the search. You can do this by changing either the price or limiting the area. This then should return a more manageable number of homes to consider. If the search returns too few properties, then broaden the area, price range, or change your optional criteria.
By starting broad and then narrowing, you minimize the risk of missing a home that might be perfect. The properties on the site are downloaded directly from the local Multiple Listing Service(s) (MLS). Many different sales professionals input data into the MLS(s). Thus there can be a lot of interpretation about how to input amenities. For example, one sales professional might consider a home to have four bedrooms while another might consider it to have three bedrooms plus a study. Perhaps for your family either interpretation could work. By starting broad you would not risk ruling out one over another.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Monday, January 5, 2009
Your Property Search - Fine Tuning Your Search
There are multiple ways to set up your area search. Many of them overlap. For example a subdivision may lie in a ZIP code that includes other subdivisions. Or a Multiple Listing Service (MLS) area will contain several ZIP codes. If your search criteria do not return the right property, then try choosing an alternate area search. Sometimes you will notice properties when driving in communities which are not returned using your search criteria. Try choosing an alternate area search to more accurately match what you are looking for.
The initial home buying phase is spent learning what properties are available. Over time you will come to better understand the concessions that you are willing to make. When the search process begins you may find that you are very open to several different kinds of property. As the search continues, you will prioritize wants and needs and fine tune your idea of the 'right home.' This is a natural and normal home buying process.
The advanced search criteria help you hone in on the amenities that are critical. Many users will use their advanced search criteria for on-going searches after the initial basic search. For example you have narrowed in on the subdivision. Your lender has qualified you for a certain price range. You have seen enough homes now to know that you really want a lot on a golf course. This is the time to set the advanced search criteria. If the urgency of your search changes and you find that you are no longer willing to wait until the ideal golf course property comes along, you can remove this requirement from your advanced search criteria at any time.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
The initial home buying phase is spent learning what properties are available. Over time you will come to better understand the concessions that you are willing to make. When the search process begins you may find that you are very open to several different kinds of property. As the search continues, you will prioritize wants and needs and fine tune your idea of the 'right home.' This is a natural and normal home buying process.
The advanced search criteria help you hone in on the amenities that are critical. Many users will use their advanced search criteria for on-going searches after the initial basic search. For example you have narrowed in on the subdivision. Your lender has qualified you for a certain price range. You have seen enough homes now to know that you really want a lot on a golf course. This is the time to set the advanced search criteria. If the urgency of your search changes and you find that you are no longer willing to wait until the ideal golf course property comes along, you can remove this requirement from your advanced search criteria at any time.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
Your Personal Decision to Buy
To understand the rent vs. buy decision, analyze your personal situation. The first variable is your current rent. The decision to buy rests on the advantages accumulated beyond the term of your lease. You should estimate the annual rent increases that you will have to pay if you rent longer than one year. Then factor in your renter's insurance. While renter's insurance is on contents, this amount will offset some of the insurance that you will pay as a homeowner. Normally utility costs are not factored in unless you are in a unit where the landlord pays all or some of your utility bills.
When calculating the buy side of the decision, factor in the purchase price. You should calculate an appreciation rate for the property based on a percentage of the purchase price. This will have to be an estimate because it is a future event. Consider also the savings rate that your down payment would earn if you continued to rent and left this money in savings.
Estimate the number of years you expect to own the property. This figure will be personal. If you are starting your career or are in a job where you expect advancement, then it is likely that you will sell the property sooner than later. Typical reasons for selling include changes in marital status or family size, anticipated job transfer, and upward or downward employment growth.
Consider the yearly expenses in owning a home. You will need the interest rate and term of the mortgage, annual property taxes, and estimated annual maintenance. An older home will require more maintenance than a newer one. Finally, the loan expenses when you purchase, and homeowner's insurance and selling costs when you finally liquidate the property are factored in.
To calculate the financial advantages of buying vs. renting, go to www.FinanCenter.com and click on Home Center.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
When calculating the buy side of the decision, factor in the purchase price. You should calculate an appreciation rate for the property based on a percentage of the purchase price. This will have to be an estimate because it is a future event. Consider also the savings rate that your down payment would earn if you continued to rent and left this money in savings.
Estimate the number of years you expect to own the property. This figure will be personal. If you are starting your career or are in a job where you expect advancement, then it is likely that you will sell the property sooner than later. Typical reasons for selling include changes in marital status or family size, anticipated job transfer, and upward or downward employment growth.
Consider the yearly expenses in owning a home. You will need the interest rate and term of the mortgage, annual property taxes, and estimated annual maintenance. An older home will require more maintenance than a newer one. Finally, the loan expenses when you purchase, and homeowner's insurance and selling costs when you finally liquidate the property are factored in.
To calculate the financial advantages of buying vs. renting, go to www.FinanCenter.com and click on Home Center.
For more information about Florence Oregon Real Estate give me a call 541-991-7794 or visit my website www.maureensellsflorence.com
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