Lovely setting with beautiful view.  This 1990 built manufactured home features spacious living and family rooms.  The master suite is at the opposite end of the home from bedrooms 2 & 3.  A really great floor plan!  Kitchen, eating area and family rooms look out toward the McKenzie River.   Large deck for outdoor entertaining.  Lots of space to garden on this .42 acre lot.

Tucked away on a quiet flag lot off of Crocker Lane, this hidden little gem provides the feel of country in the city. Nicely appointed with tiled floors in the entry & baths, alder cabinets & stainless appliances in the kitchen and 9 foot ceilings downstairs. The spacious master suite features wonderful master bath and a private deck from which to enjoy the evening sunset.  County records shows 3 bedrooms, but there are actually 4. Upstairs utility. Great walk-in storage space. Lovely landscaping & spacious backyard patio for entertaining. RV parking.

Wonderful 10+ acre parcel in West Eugene.  Nice mix of trees and meadow land.  Septic approved!!!!  Power to property.   On quiet dead-end street off Gimpl Hill Rd.  Paved access from Play Way.  A beautiful homesite.  Just minutes from shopping. Make this yours today!!!

    Wonderful single level home in the Hayden Bridge area of Springfield. Lovely kitchen & bath updates. The spacious living area is open to the kitchen & dining areas. The 4th bedroom has had the closet wall removed, so could serve as a family room space. Indoor utilities. Lovely mature landscaping. A great home in a great location.

     Great Interest Rates + Great Prices = Opportunity! 

     Impressive gains in new listings, pending & closed sales can be seen when comparing the March, 2009 to the March, 2010 real estate market statistics in Lane County, Oregon.  Folks have been jumping into the market and taking advantage of the great interest rates and great prices.  Lower median and average sales prices have been affected by the influx of short sale and foreclosed properties coming onto the market.  These factors have provided great opportunities for first time home buyers and investors alike. 

    As spring leads into summer, there will continue to be great opportunities for those that look to purchase real estate.  You've heard that old saying "Buy Low, Sell High".  It's not just for the stock market. If you are looking to make the most of opportunities that exist in our local real estate market, give me a call or view properties for sale on my website at www.pamwindom.com Is it time for you to make a move?

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.

To Calculate Your Savings Using Bi-Weekly Payments Visit

http://www.frontdoor.com/Tools/Calculators/Bi-Weekly-Payments.aspx

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!

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! 

541-431-6498

    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:   extension.oregonstate.edu/lane

~  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.

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.

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.

          ~  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…..you 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?

          It is important to note that a short sale will appear on your credit report showing as a settlement for a lesser amount, not as a debt discharged. This means that your credit will be “less severely” impacted in a short sale situation than in a foreclosure scenario.  A foreclosure will follow you on your credit bureau report  for 10 years and will severely affect your ability to obtain credit.   

         The important window of opportunity is NOW!!!!  (Home purchases made between January 1, 2009 – December 31, 2009.)  Changes in the current tax code regarding taxation on the phantom income earned on a short sale make now the perfect time to explore a short sale.  Contact your accountant for further details or visit www.irs.gov/pub/irs-pdf/p4681.pdf  ....... either will provide you with details regarding exemption from tax liability that your lender would report on doc 1099C.  Please note **** This is subject to the borrower having a negative net worth.  Read more about this exemption at the IRS website noted above.

To find the right price to market a property, one must not only take into account the obvious features of bedrooms, baths, square footage and of course location, location, location…..but also the amenities that add to the quality of the home.  Be advised, appraisers will not give dollar for dollar value to added amenities when appraising a home; however, when all else is equal, the amenities do make the difference.  When pricing your home for sale, remember the adage, more for the same or the same for less and you will have greater success in getting your home sold…..particularly in a declining market.  Purchasers want to know that they are getting a good value for their dollar.

What a home is worth ultimately ends up being in the eye of the beholder. 

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 for the sale of your home. 

Today's Term.....Absorption Rate

Absorption Rate is the length of time it would take to sell the inventory of a given area at the current sales rate.  It is a valuable tool for use in determining a price range for marketing a home for sale. To calculate the current absorption rate, simply take the number of homes that are currently on the market and divide that figure by the number of homes that sold last month……this will equal the absorption rate.

As you prepare to list your home for sale, knowing the current market activity is a must.  I assume that you aren't placing your home on the market just for fun and that you actually do desire/need to sell your home.  Being practical from the "get go", will often save you time and money in the long run.  In a market where prices are declining, being in front of the pack is important.   (This means being competitively priced, so people not only notice your home, but are attracted to it, because it is a good deal.) Bear in mind, a good deal, doesn't mean a fire sale on your end.  If you are priced right from the beginning and your home sells quickly, isn't that better than sitting on the market for 6 months, trying to sell your home, only to watch the market values decline and getting less for your home than you would have if you had priced it ahead of the market to begin with?  Bottom line…..it is better to have the market chase you, instead of chasing the market down.   

         Some of the most frequent situations we as realtors come upon, that can change your circumstances in the blink of an eye, are loss of a job, divorce, death and medical emergencies.  In our current economy, more and more people are finding that their jobs are being cut and they do not have a contingency plan in place that can bridge the gap until they secure a new job.  It is becoming a more prevalent scenario…..bad things are happening to good people who have had the best of intentions.

         If you find yourself unable to make your house payment, regardless of the reason, I first and foremost encourage you to contact your mortgage company to see if they have options available that will help you avoid foreclosure.  A foreclosure will follow you for years on your credit record. 

        Because of the current economic situation, many lenders are finding creative ways to help keep people in their homes.  The bottom line is... lenders are in the business of loaning money, not owning real estate.  They really do not want to take possession of your home and carry it on their books until it can be sold.  Options that are currently coming to light are reductions in interest rates, delayed payment options, reductions in loan balances and the willingness of lenders to consider having folks sell their homes as a short sale.  Speak with your lender!!!!  Did I say that loudly enough…..SPEAK WITH YOUR LENDER!!!!  Do not stick your head in the sand.  Find out what your options are.  Take control of the situation and find out what will cause the least amount of damage to your future credit rating.  If a short sale is the best scenario for you, call me (541-431-6498).  You need a professional to guide you through the process and I will be happy to help.