Real Estate Information Archive

When it comes to Coos Bay real estate it is no secret that it is a buyer’s market out there, great news for buyers, not so great for sellers.  Sellers are no longer in a position to dictate the rules of the game and have to be careful how they respond and counter to offers, due to the fact that if a buyer doesn’t get his way he might just move on to the next seller, and there are a lot of sellers out there.

There are a few difficult things about being a seller today.  A seller doesn’t know how long it will take to sell his Coos Bay home and when he gets a contract he can’t guarantee whether another one will come or not.  What this means is that if a seller has to sell his home then he has to be wary of scaring the buyer away.

The inspection is one aspect of a contract where a seller can lose his shirt.  If you are trying to sell your Coos Bay home it is a wise idea to have your home inspected before listing your home.  This way you can make the necessary improvements and will avoid being surprised by unexpected requests.  Because sellers are not in a position to capitalize on their real estate investment it is more important than ever to be on top of things, in order to retain as much value as possible.

An experienced Coos Bay Realtor is incredibly helpful in maneuvering a tricky real estate market, enabling a seller to evaluate his home, price it appropriately and sell it in a reasonable amount of time.

Contact Jan Delimont today, 541-290-1850, for more information about Coos Bay real estate and access to the Coos Bay MLS.

If you are looking to buy a home in Coos Bay you should be aware that trying to acquire an interest only loan is about to get tougher.  Fannie Mae is changing the rules to make qualifying for interest only loans a more stringent process.  The biggest difference will be the percentage that a home buyer will have to put down on his Coos Bay real estate transaction.  Under the new rules a borrower will have to put down 30% of the home’s value to qualify for a Fannie Mae-backed interest-only mortgage.

Fannie Mae does not issue mortgages but buys them from lenders who do.  If Fannie Mae doesn’t like what it sees it will not purchase the mortgages.  The goal behind the qualification changes is to make sure that borrowers can afford to pay their mortgages.  The bursting of the housing bubble has created the need for security, to avoid any repeat performance in the future.  It is important to be prepared to secure a mortgage before buying a Coos Bay home.

Click here to read an article from CNN Money regarding interest only loans.

Contact Jan Delimont today, 541-290-1850, for more information about Coos Bay real estate and access to the Coos Bay MLS.

If you have been thinking about using the home buyer tax credit toward a new Coos Bay home you need to act fast.  With just under two seeks left to use the tax credit there are a few points about the credit to remember.  The home buyer tax credit originated as a first time home buyer tax credit but it is no longer just for first time home buyers.  If you have lived in your Coos Bay home for 5 of the past 7 years and are looking to buy a new home the tax credit can help make your purchase more affordable.

Another important point is that if you are a current home owner who qualifies for the tax credit you don’t have to be moving up.  Your new home does not need to be a bigger, more expensive home, you can make a lateral move or a move down to a smaller home. The new home must also be your primary residence.

If you want to use the home buyer tax credit toward purchasing Coos Bay real estate in 2010 you need to have the home under contract by April 30.  The home does not need to close before June 30, but the contract date is nearing.  The tax credit offers home buyers a great opportunity to save some money, so contact an experienced Realtor today and get out there and start looking at real estate.

Click here to read all about the home buyer tax credit.

Contact Jan Delimont today, 541-290-1850, for more information about Coos Bay real estate and access to the Coos Bay MLS.

Questions arise when people are considering leaping into Coos Bay real estate and one which arises is buying an affordable home versus saving up for a dream home.  It can be a daunting process when shopping for a first home, realizing what you can

afford as opposed to what you would like to afford.  The questions ultimately arises whether it is a smart move to buy a home that you don’t want to live in forever.

Coos Bay home ownership offers some benefits that are not available with renting.  Two main benefits of homeownership are building equity and having the ability to deduct mortgage interest and property taxes from federal and state income taxes.  It is possible to buy a “starter home” and move up in time.  Rarely to people purchase a first home and stay in it for a lifetime.

Buying a first home in Coos Bay allows a homeowner to build equity, with the ability to sell the first home for a greater value down the road. If you wait until you have saved enough money it is hard to say what the affordability will be.  Will waiting make buying your dream home possible 2 years from now, 5 years from now, 15 years from now?  In that time how much money in rent will you  have spent.

There hasn’t been a better time to buy a home in a very long time, if ever.  Home prices are most likely at bottom, mortgage rates have been hovering at historical lows and tax incentives make buying a home feasible for many.  If it makes sense for you financially it could be an ideal time to buy a first home, paving the way for purchasing your dream home later.

Contact Jan Delimont today, 541-290-1850, for more information about Coos Bay real estate and access to the Coos Bay MLS.

We are rapidly approaching Spring and if you are selling your Coos Bay home or thinking about selling your home, you might want to get into the Spring cleaning mode.  There is no doubt about it, across the board clean homes sell better than messy or dirty homes do.  It is an unwritten, yet openly discussed, rule in Coos Bay real estate.

The main areas to focus on when cleaning, or examining your already cleaned home,  are windows, walls, baseboards, bathrooms, closets and cabinets.

• Windows should be clear inside and out.  Large picture windows should offer a clear, smudge-free view.
• Walls should be clean, free of holes and have a fresh coat of paint if needed.
• Baseboards should be free of dust and clean as well.
• Bathrooms should sparkle.  Tile and grout should be clean, any cracked tiles should be replaced.  Toilets, tubs and showers should be stain-free.
• Closets and cabinets should be cleared of clutter, organized and neat.  If there is a door or drawer the chances are good that a prospective buyer will open it.

The important thing to remember is that you never get a second chance to make a first impression.  The better condition your Coos Bay home is in and the cleaner it appears the more likely it is to make a good impression.

Click here to view an article from Realty Times about selling a clean house.

Contact Jan Delimont today, 541-290-1850, for more information about Coos Bay real estate and access to the Coos Bay MLS.

Understanding Coos Bay real estate, involves understanding real estate across the country.  In glomming on to positive news don’t forget to remember your basic math.  Median prices have been going up in some areas, down in others.  The median is the value that occurs in the middle of everything that has sold.  For example, if seven apples have sold for $1, $1.25, $1.5, $1.5, $1.5, $1.75 and $2.  The median price would be $1.5.  The median value is the middle price, it does not represent the size, quality or type of apple.

In Coos Bay real estate it is important to remember that the median sales price represents the average price of what homes are selling for.  It is not representing the size, condition or value of a home.  The median sales price can be offset by foreclosure property that is selling in an area as well as by luxury property that is selling in an area.

The best way to determine the value of your Coos Bay real estate is to get it analyzed by and experienced real estate professional.  There are many factors in determining real estate values today and picking an average out of the air could hinder the sale of your home.  In today’s Coos Bay real estate market it is more important than ever to price your home appropriately.

Contact Jan Delimont today, 541-290-1850, for more information about Coos Bay real estate and access to the Coos Bay MLS.

While many people seem to think that it is not wise to think of your home as an investment, the reality is that your Coos Bay home is an investment.  This being said there are some things to keep in mind when setting out to buy a home, the least of which is getting to know the neighborhood you wish to buy in.  If you do your research and your homework selecting your Coos Bay Oregon home properly can insure more of a return for you when you decide to sell at some point in the future.

Research the Coos Bay neighborhood that you want to live in.  Aside from knowing the schools and amenities that are available, take a close look at the property levels.  Which streets hold more value?  Is one edge of the neighborhood closer to a more upscale neighborhood, is one side close to a less desirable neighborhood?  According to Realty Times, less is more.  They say purchasing the least in the best neighborhood will give you the greatest return as every time a better house sells your value goes up as well.

While you may not look at your primary residence as an investment, in the long run it may be the best investment you have, so do your research and you will be happier in the long run.

Click here to read buying advice from Realty times.

Contact Jan Delimont today, 541-290-1850, for more information about Coos Bay real estate and access to the Coos Bay MLS.

The good news for Coos Bay real estate is that interest rates appear to be staying put until the US economy gets back on track and stays there.  This past week Ben Bernanke, chairman of the Federal Reserve, announced his desire to keep interest rates low due to the fragility of the economy.  Unemployment figures are continuing to rise.  These increasing unemployment figures are interfering with recovery and affecting real estate and general sales figures in Coos Bay Oergon and across the Country.

Historically low interest rates and low home values combined with the extended and expanded First Time Home Buyer Tax Credit, have been instrumental in boosting real estate sales in the Coos Bay area.  These incentives are bringing buyers off of the sidelines and have created a true “buyer’s market”.

Real estate is typically a catalyst for for economic recovery and keeping mortgage rates low will be a significant help in keeping the sales coming.

Click here to see a recent article about Ben Bernanke and his commitment to keeping interest rates low.

Contact Jan Delimont today, 541-290-1850, for more information about Coos Bay real estate and access to the Coos Bay MLS.

Posted: 17 Feb 2010 3:00 PM PST

Current home trends lean toward a simpler more efficient lifestyle

In Coos Bay & North Bend on the Oregon Coast, we love the sunny days. Letting plenty of light in your home makes a pleasing atmosphere. Skylights are sometimes challenging with the wind and rain. The solar tube skylights that came out about 10 years ago are very nice for kitchen, shower areas, closets, most places that you don't need darkness in. Big windows are great for light and to bring the gorgeous views of the Pacific Northwest.

From wall coverings to energy efficient appliances, trends are set in home remodeling and design just as they are in fashion, entertainment and elsewhere.  Realtor Magazine recently published an article on current home trends and, not surprisingly most are geared toward cost effectiveness, energy efficiency or reducing stress.  The past few years of enduring a recession and a housing bust have made people want to get down to the basics and live a simpler life and these priorities have filtered into the home.

Current trends in home design include neutral colors, like white and beige, which are more calming than bright vibrant colors.  Energy efficient appliances like refrigerators and cook tops are also being used more frequently as they are better for the environment and, in the long run, the wallet.  In order to keep the calm people are also adding relaxation rooms to their homes, whether they be complete spa rooms or a simple massage chair.  A designated place to unwind helps erase stress and add to home's value at the same time.

Click here for a complete look at current home trends.

 Posted: 13 Feb 2010 11:00 AM PST

In Coos Bay & North Bend on the Oregon Coast, repairs and renovating are important to consider when thinking of the future sale of your home. When asked about this from sellers, I suggest that a well maintained home is important. Concerning renovations, one might consider some upgrades may help to distinguish the home and help to sell it if others in the same price range do not have that upgrade, generally. As far as recovering 100% of the investment for upgrades on a home, this is not happening in this market.

Remodeling and renovating homes should be evaluated more closely than in the past, with an eye on what kind of return your investment will give to you. If your remodel/renovation is strictly for you, you plan on staying in your home for many years to come and you have the money to make your improvements, by all means go ahead and knock yourself out. If, however, you are looking at your home improvements as a way to maintain or improve your home’s value, do some research and evaluate whether you will get the return you need or expect to get when you sell. Here are some things to keep in mind:  Stay on par with your neighbors. Having the best house on the block might be nice if you are the type of person who likes to one-up everyone but it certainly won’t give you the most bang for your buck. Your home is typically as valuable as other comparably sized homes around you.  Ascertain your home’s condition. Today’s home buyer does not want to spend a lot of money fixing up needed repairs like a leaky roof and broken windows. Keep on top of the shape that your home is in and make it clear that the home is well taken care of.  If you are making upgrades to your home see if they can be energy efficient upgrades. Not only will you get a tax break but you will probably save money in the long run as well. There are many remodeling and renovating items that you can choose to do that are cost-effective and attractive to future home buyers. For a recent article from Money that touches on the subject of remodeling and renovating click here.