Real Estate Information

News of recovery, historically low mortgage rates and the overall feeling that the bottom is here or near, have many people wondering if now might be the ideal time to buy a first home, trade up to a bigger home, or simply invest in more Coos Bay real estate. Let’s face it, affordability is here when it comes to Oregon real estate. For those who have a steady source of income and have the cash or the ability to acquire a mortgage, there couldn’t be a better time to buy a home.

What are the benefits of investing in Coos Bay real estate? First of all when investing in anything the best return is made when the original purchase it at, or near, its lowest value. Buying a home in today’s conditions allows for more equity to be built over the long term because of the affordability levels currently available.

Home ownership has proven historically to be a good investment more often than not. The people who have lost out during the recent housing bust were, for the most part, people who purchased real estate at the height of the market and people who bought more than they could afford.  To find out if buying Coos Bay real estate right now is a good idea for you, contact Coos Bay OR Realtor, Jan Delimont, at  (541) 290-1850 or by email.  Jan Delimont can help you sell or search for Coos Bay real estate.

Click here to read a recent article from Realty Times in the value of home ownership.

When selling Coos Bay real estate the question of whether a vacant home is good for selling is a viable question, the answer, however, is not so easy. Many real estate professionals believe that a furnished home sells better than an empty home. Then of course there are those that disagree.

A furnished home can show a potential buyer how a home looks when lived in. The trick in this scenario is, of course, that the furnishings should be in good taste, simple and laid out in a way that makes good usage of the home’s space. In addition, the Coos Bay home should be void of personal belongings like photos that can make the home hard to envision someone else living in.

A recent article from Zillow.com on how sellers can increase their property values states that “Vacancy increases sale-ability.” In the case of a vacant home a potential buyer can picture his own items in the home, seeing it for exactly what it is. In the case of an empty home, the way to make the best impression is to have it in great condition because every flaw is visible, from chipped paint to dirty carpet. Take the time to have a vacant home in impeccable condition.

Clearly opinions differ on whether a Coos Bay OR home is more sellable empty than filled. When considering selling your home get together with a Coos Bay Realtor, such as Jan Delimont, and find out what her opinion may be. Jan Delimont has a solid track record and a lot of experience should have a good idea on what sells best in your area.  Contact her at 541-290-1850 or by email to set up an appointment today.

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 trying to sell your home in Coos Bay, consider thinking like a home buyer. Walk around your home, what features do you like? What parts of your home need work? From the color of the paint on your walls to how clean your carpet appears, the details are important and the details are what will either attract or repel potential home buyers.

When it comes to paint choose a neutral color. This doesn’t mean a home has to be painted white but a living room certainly shouldn’t be painted hot pink or orange. Taste is subjective and leaving color basic is always best.

The flip side of improving your North Bend home for sale is that a recent psychological study shows that new features like new carpet, fresh paint, new cabinets, and the like signal a Band-Aid approach when listed in ads. By all means spruce up your home but point out the great features of your home without using words like “new”, “newly” and the like. Apparently some home buyers see these words as bandages covering a deeper wound. Attention to detail will help sell your Coos Bay home in a more timely manner.

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

Mortgage rates have once again hit record lows in an effort to spur real estate sales nationwide. Poor reports on job creation and high unemployment figures are spurring the lowering of rates, meant to improve the housing sector of our economy.

The current average rate for a 30 year fixed rate mortgage is 4.44%, a year ago it was 5.29%. A 15 year fixed rate mortgage is averaging 3.92%, down from 4.68% a year ago. A five year adjustable rate mortgage is averaging 3.56%, down from 4.56% a year ago.

Low mortgage rates appear to be doing the job of increasing home sales. While Coos Bay real estate sales are in no way booming, they are improving. The National Association of Realtors (NAR) tracks 155 metro areas across the country and has seen improvements in real estate sales in more than 60% of these areas.

The historically low rates are creating an ideal borrowing climate for those who have a steady source of income, the money for a down payment and good credit. It is a prime buyers market when it comes to Coos Bay real estate. The low home values and low mortgage rates combine to make it more affordable to buy a new home than it has been in years.

Contact Jan Delimont of Prudential Seaboard Properties at 800-752-6361 for more information or visit www.coosbayproperties.com

Reverse mortgages are costing less these days, making them possible lifelines for those trying to find ways to stay in their Coos Bay homes. What is a reverse mortgage? A reverse mortgage is a loan, or line of credit, available to people aged 62 and older who either do not have an existing mortgage on their homes, or have a great deal of equity built up on their Coos Bay homes.

Reverse mortgages used to be criticized for their large, upfront fees. Recently, however, the fees for reverse mortgages have lowered, making the loan more appealing in the process. Borrowing money has enabled many North Bend Oregon home owners to pay their medical fees, monthly expenses and more. In a tough climate, where many of retirement age have lost the bulk of their money, reverse mortgages have allowed people to stay in their homes and sustain their monthly bills and expenses.

At one time a home owner could depend on selling his property, today, with the real estate market on shaky ground, selling a North Bend home is more difficult and will most likely yield quite a bit less money than a few years ago. Reverse mortgages have the opportunity to help some people out of a sticky situation.

 Click here to learn more about the reverse mortgage.

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

When it comes to Coos Bay real estate there are many bargains out there and if you are a home buyer this is your time to shine. The benefit of being a home buyer today is that you can afford to be picky, after-all you are in charge. You may be looking at five houses, which one is best for you? Which one has the best schools, the best amenities, the best features? Maybe two of them do, you can make offers with both and see which seller will give in more. Today’s Coos Bay home buyer has the position of bargaining power.

Low mortgage rates, which are at historic lows and do not appear to be rising any time soon, high inventory and a continuing stream of foreclosures continue to keep homes prices at reasonable, if not bargain, levels. Low mortgage rates alone help make the cost of buying a North Bend home more reasonable than in recent years. High inventories are making home prices competitive and foreclosures, while they may have slowed, are still coming.

The bottom line is that it is possible to find a great North Bend real estate bargain today. There are sellers that are motivated out there and if you are a buyer you have an opportunity to stand your ground and try to get the best deal that you can.

 Click here to read a recent article from Realty Times regarding the real estate market and the deals that exist.

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

Are you looking at buying North Bend real estate? If you are self-employed and are considering purchasing a North Bend home it is important to be aware of the changes that have occurred in order to obtain a loan.  As everyone is well aware, getting a loan is not nearly as easy as it used to be. Those who are self-employed are having a more difficult time borrowing money and must provide documentation that shows their income.  The IRS is being contacted for verification by many lenders and any fraudulent income claims are being dealt with.

In a nutshell, if you are self-employed and applying for a mortgage loan for Coos Bay real estate, be prepared.

• Line up all of your documents showing your income before going to apply for a loan.
• Check your credit and do what you can to improve your credit score.
• Pay your bills on time.
• Most importantly, tell the truth, misrepresentation can cost you.

Many lenders, Chase being one, are hiring more loan officers, convinced that the low rates are going to bring many more new loans and refinance loans in the next 18 months or so.  Mortgage rates have been decreasing since April, closely tied to the unsteady economy, where wary investors are putting their money in safe investments like Treasury Bonds.  As these yields go down interest rate goes down as well.  In other words, the unsteady global economy equal good news for home buyers acquiring a mortgage and home owners who are refinancing their home loans.  If you are self-employed and can provide decent and accurate documentation there is no reason you shouldn’t be able to secure a home loan for a Coos Bay home.

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