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Market Watch April, 2009

by Pamela J. Windom, p.c.

Things are picking up! Now that word is getting out about the availability of low mortgage interest rates and the $8,000 tax credit available to first time home buyers, buyers are beginning to get back into the swing of things and are out looking for deals. The increase in sales activity caused the number of month’s worth of available sales inventory to drop from a high of 20.6 months in January to 9.7 months in March.

We are definitely feeling the effects as more and more shortsale and foreclosed properties enter the market place.  Often times these are distressed properties and when combined with the fact that banks do not like to hold real estate inventory, these properties get priced to sell and help drive down prices in the market overall.  It is going to take some time for these properties to cycle through the system, for available inventory to drop and the market to balance out.  Sellers who desire to sell are forced to compete with these “priced to sell” properties in the open market.  If you are considering selling your mantra must be …..more for the same or the same for less.  We are definitely in a buyer’s market!

The good news in all of this is that if you are a first time buyer or are looking to sell and move up, the time is now!  If you need to sell before you purchase, you may take a bit of a hit on the selling end of things, but can definitely make up for it on your purchase.  Think of it as a percentage game…..a 10% loss on a $200,000 sale is $20,0000, while a 10% gain on a $350,000 purchase is $35,000. 

If you are ready to enter the real estate market, give me a call.  I will be happy to help you sort out the details as they relate to your specific circumstances.  Every person has their own real estate story.  Let me help you put a positive spin on yours!  It’s time to create your happily ever after.  Call me….541-431-6498.

FireMed...What is it? & Why you should have it.

by Pamela J. Windom, p.c.
The FireMed program was born in the 1980's, right here in our local community, in an effort to provide quality emergency medical service to our community members.  Since its inception, it has grown and become a model for other communities seeking to provide service to their residents. 
FireMed is a program in which residents "buy into" the program at a low annual fee and are provided the opportunity to access emergency medical service and transport, without the hefty bill that would typically follow.  Your whole household is protected, for an entire year, at a very low cost.  It is "an insurance policy".....so to speak.....and one that I wouldn't be without. 
We are fortunate to have phenomenal medical services available in our community.  I believe that the quality of these services is directly related to the FireMed Program, which has been recognized and applauded by the likes of Fortune Magazine, Oregon League of Cities and the National Association of Emergency Medical Technicians.
For 2009, the FireMed Basic Service Fee is $52 for regular emergency ground transport.  FireMed Plus is just $87 for combined emergency ground plus air medical transport.
For further information use the following link
          www.FireMed.org
or give FireMed a call directly at  541-726-3636 (a local Springfield, Oregon number)
         

Mortgage Calculator....How Can This Be Helpful to You???

by Pamela J. Windom, p.c.

Real Estate lingo tends to be baffling at times, but understanding the meaning behind the terminology can be of great benefit.  From time to time, I will address different terminology that is not only beneficial to know, but also understand, so you can put it to good use in formulating a plan to meet your real estate needs. 

Today's Term.....Mortgage Calculator

          A mortgage calculator is a resource that can be very helpful to you as you begin to ask questions about purchasing a home and/or refinancing your current real estate holdings.  It is a quick and easy place to start to determine what your approximate payment might be and how changing interest rates can affect your payments.  Another great feature of a mortgage calculator, is that you can determine what the effect will be should you choose to make extra payments against the principal on your loan.  One extra payment made per year against your principal, can make a giant difference in the total cost of your real estate acquisition. 

          Visit http://www.teamirwin.com/Calculators.aspx   Have fun…..plug in some different numbers and try some different scenarios, to see what the difference may truly make to your financial future.

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