Real Estate Information

Eugene Real Estate Market Watch

Pamela J. Windom, p.c.


Displaying blog entries 1-10 of 17

Thinking of Purchasing a Distressed Property?

by Pamela J. Windom, p.c.

Considering Purchasing a Distressed Property?   Think Again......!!!

Distressed property is property that is facing foreclosure or property that has been recently acquired by a lender through the process of foreclosure.  If you are considering purchasing a distressed property, I urge you to think about it, then think about it again.....get informed and then think about it again before entering into a contract.  If that sounds a bit redundant, it's because purchasing a distressed property is a process that is not for the faint of heart.  True, distressed properties are often priced below the market to facilitate their sale, but there can be great risk involved in purchasing one. 

So how do shortsales play into this?...well....a short sale is any sale where the purchase price fails to pay off the mortgage or other liens against the property and provide a clear title.  If a seller is in such a position (often referred to as the seller being upside down in their house) they must obtain consent from their creditors (also known as 3rd party approval) to permit the reductions in the funds required to close and provide clear title to the new owner.  Since the sale will require 3rd party approval, buyers often have little control over the process and timeline related to the transaction.  I urge you to consult a realtor that is familiar with the short sale process in order to protect your interests during the course of the transaction. 

If you have any questions regarding short sales or foreclosed properties, feel free to call on me.  I will be happy to assist and help you in determining if purchasing a distressed property is really right for you.

Bi-Weekly Mortgage Payments....A Great Way to Save

by Pamela J. Windom, p.c.

    Accelerating your mortgage payoff can save you thousands over the life of your loan. Paying your mortgage on a bi-weekly basis by taking your monthly mortgage payment, dividing it in half and paying it every other week, will result in an extra payment being made toward your principal each year. The faster you pay your loan down, the less money you pay in interest to the lender...which means more money in your pocket in the long run.  Contact your lender to see if this payment option is available to you and start saving today!

To Calculate Your Savings Using Bi-Weekly Payments Visit

Kitchen Quickies.....It's Not What You Might Think!

by Pamela J. Windom, p.c.

OSU Extension Service

Offers a New Series of Classes

Cost:  $5.00 per class...registration required (see below)

Upcoming classes include:

    April 9        6-8 p.m.        Perfect Pies and Pie Crusts

    April 15      9:30-11:30 a.m.       Ancient Grains

    April 30      6-8 p.m.        Stuff It!  Savory Pies

    May 1        10 a.m.- noon       Going Nuts!

    May 7        6-8 p.m.        Oodles of Noodles

    May 8        10 a.m.- noon     Summer Sausage

    May 15      6-8 p.m.            Simply Sauerkraut

Courses are offered by the Master Food Preserver Program.  For more information and to register call 541-682-4246.

Time is Ticking on the Tax Credit Deadline

by Pamela J. Windom, p.c.

Time Is Ticking on the Tax Credit Deadline!

Attention:  Folks looking to take advantage of the current $8,000 tax credit for first time home buyers and those looking to buy up and get the $6,500 tax credit, the deadline is soon approaching.  You must be under contract to purchase a home by April 30, 2010 and have your purchase closed by June 30, 2010. 

Call me to see if you can still get

in on the action! 


Improving Your Home Garden

by Pamela J. Windom, p.c.

 Sustainable Landscape Certification Training

    June 22-23, October 26-27, December 7-8 

8:30am - 5pm, Lane County Extension Auditorium Cost: $50

    950 W. 13th Ave., Eugene

    Certification Topics:

    Water Efficiently

    Mulch and Compost

    Gardening for Wildlife

    Stream Side Gardening

    Yard Pest Control

    Right Plant - Right Place

    Lawn Care

    Stormwater Alternatives

    Edible Landscaping/Vegetables 

  For further information contact:

Remodel or Move ???

by Pamela J. Windom, p.c.

Boy, is this a loaded question… many things to consider

~  Will remodeling accomplish what you really want?         

 Adding space, just for the sake of making room, may not be the solution.  If you are really fed up with specific elements of your home, it's time for a change

~  Budget- What is your overall budget?  Can you get what you want for the money you wish to spend on your remodel? 

Remember, when remodeling you are paying top dollar for new materials and labor.  Could you get these same amenities by purchasing a pre-owned home and pay a fraction of the cost.

A new loan-  Is the interest rate, currently available for a new loan, less than your current rate on your home loan? 

 If there is a significant difference in these 2 interest rates, you could see significant gains over the long run and take the opportunity to enjoy the added amenities of a new home?

Taking out a small second- How high will the interest rate be on the second you take out? 

It pays to know exactly how much that second is going to cost you.  Perhaps you may want to consider refinancing with cash out at close of escrow to fund your remodel project.

How much can your neighborhood take?-  Are you going to end up being the biggest house on the block? 

Over building in your current neighborhood could wreck havoc when it is time for you to sell….think ahead.

The disruption of remodeling-  Remodeling takes time and often means major adjustments to your lifestyle during the remodel.  Are you going to be without a kitchen for several weeks….just how fast can you get a roof put back on after changing your roofline?

Timing-  Is your family growing?  Do you have to consider the possibility of parents moving in with you? 

Take a look at some of the possibilities in your life.

Do payments matter?  Have you suddenly come into a large sum of inheritance that you can use to help finance the project or a new purchase?  How will your payments be affected? 

Consider all of the options

In a buyer’s market vs. in a seller’s market?

It’s all a game of percentages….In a buyer’s market you have more buying power with your dollar, while the opposite is true in a seller’s market.  Buying up in a buyer’s market can present real opportunity.

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" 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

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   Have fun…..plug in some different numbers and try some different scenarios, to see what the difference may truly make to your financial future.

Refinancing….Yes, No or Maybe?

by Pamela J. Windom, p.c.

 Justifications for refinancing your mortgage may include:

          ~  Lowering your current interest rate on your mortgage, thereby reducing monthly payment amounts and the overall cost of your purchase

          ~  Reducing the term or length of your loan…..this can save you thousands of dollars in potential interest paid over the life of your loan

          ~  Consolidation of your debt… can consolidate all of your debt at a lower interest rate and write your new mortgage interest payment off on your taxes


While all of these considerations are very legitimate reasons to refinance, you must consider the costs associated with the refinancing process.  Loan origination fees, an appraisal, processing fees, title fees….they all add up.  Depending upon your circumstances, if you can get an interest rate at least a full point lower than what you currently have, it is worth making the call to a qualified lender to see what refinancing may mean to your financial future.


Keep these questions in mind when you make the call:

~  Do I have the equity in my home to allow for the refinance? (This is especially important to ask if you plan to pay off current outstanding debt, in an effort to consolidate your debt.)

          ~  How much can I lower my current monthly payment?

          ~  How long do I plan to stay in my home?

~  How much will I pay in upfront fees to refinance?   and  Can I build some of these costs into the refinance, so that I don’t have to come up with the fees out of pocket?


Last, but certainly not least, be sure to consider the following:

How long will it take to recoup the cost of the refinance?

Displaying blog entries 1-10 of 17