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.

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.

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.

Posted: 05 Feb 2010 08:53 AM PST

The Coos Bay/ North Bend, Oregon Housing Market seems to be getting busier in our office. Foreclosures are continueing to bring the prices down. The Inventory of homes in Coos Bay was around 1 year recently, compared with 2 years last year about this time. Thus, homes are selling faster but at lower prices.

It is a buyer’s market when it comes to real estate.  It is not the best time to be a seller, but to be a buyer the conditions could not be better.  Low interest rates, home values and inventory all point to buy, buy, buy.  The only thing standing in the way is money, but if people can get money and they are in the right place at the right time, buying real estate is a great idea.

If the real estate market were a car the first time home buyer would be in the driver’s seat.  Not only to first time home buyers get to take advantage of low mortgage rates, low home values, and a decent inventory of homes for sale, but they also don’t have to sell a home before they buy a home.

There may not be a better time to be a home buyer, especially a first time home buyer, for a long time.  The first part of 2010 displays ideal conditions to get out there and start looking.

Posted: 30 Jan 2010 05:56 AM PST

What looks like a real estate bargain is not always a bargain

In Coos Bay and North Bend on the Oregon Coast, many Bank Owned foreclosures require inspections to be done before offers are made on these properties. On rare occasions, if the home cannot be financed without certain repairs such as safety hazards (electrical) or well repairs (i.e. no water supply) the bank may agree to repair these.

For potential real estate investors who have money in their pockets, today's real estate market is full of bargains, but be careful what looks like a real estate bargain isn't always a bargain.  Some of the best bargains out there have foreclosure written all over them.  The biggest problem with foreclosures is that they are in the lender's hands and more often than not the lender is not looking after the property, at all.  In cold climates this could mean frozen pipes and water damage, in other areas it could mean general plumbing problems.

In general foreclosure properties are sold "as is", which means that there will be no inspections and the lender will be putting no money toward fixing anything.  Air quality problems that may arise from mold, gas leaks, will not be mitigated.  Lead paint will not be replaced nor will asbestos be removed.

If you have your heart set on a foreclosure property, take off your rose colored glasses and be realistic.  Contact an experienced Realtor and try to get a sales history on the house.  Doing your homework could result in a better outcome.

Real Estate Market's Ups & Downs Present Many Questions

Posted: 30 Jan 2010 06:00 AM PST

           The real estate roller coaster leaves many questions

Let's face it, times are tough and on any given day the mood is a different one than the day before.  The market's up, then down, we're in a recession, we're recovering, it is hard to know what is really happening out there with so many mixed signals.  Real estate is difficult to figure out, and remains relative to where you are.

Is real estate improving?  Sales are up, inventory is down but foreclosures are expected to keep coming, especially with unemployment figures on the rise.  To find out if real estate in your area is improving talk to a real estate agent and look at the statistics that they provide.  The December real estate sales figures were down as a nation but some areas of the country saw an increase in sales.

Have we hit bottom?  Parts of the country have hit bottom other parts still have a way to fall.  Home prices are apparently steady in parts of the country and climbing in others.  The areas where home prices will continue to fall are those hit hard by job losses, an increase in foreclosures and too much inventory.

In a nutshell, real estate is relative.  It is improving in many areas and as soon as our recovery includes job growth real estate is going to improve in many more areas.

Click here for an article about real estate on Yahoo Finance.

Here in Coos Bay/North Bend, on the Central Oregon Coast, the Tax Credits have had a large impact on sales. The Tax Credit including current home owners will be used by some buyers this Spring.

The tax credit is not just for those buying a bigger home, it also works for those wanting to downsize When the First Time Home Buyer Tax credit was extended and expanded most people thought the expansion was only for home owners who wanted to move up, those who wished to buy a bigger, more expensive home. In fact, the expansion simply includes those who have owned a primary residence and lived in it for at least five years consecutive years out of the last eight years. If current home owners want to downsize they can use the tax credit toward their new home, regardless of whether it costs less than the home that they are selling, regardless of whether it is a smaller home than the one that they are selling. It is an anomaly that everyone assumes the tax credit is only for purchasing bigger and better. Many people, especially those whose children have grown and left the nest, want to downsize. After-all, who doesn’t want to make life simpler these days? If you have been considering selling your home and moving into a smaller space, consider doing so before the tax credit expires. Place your new home under contract by April 30th and close by June 30th and you could have a few extra dollars in your pocket. For more information on the tax credit,click here.

Posted: 10 Jan 2010 04:09 PM PST

Now might be the best time to lock in a low mortgage rate

Rates in Coos Bay/ North Bend, Oregon, are still good. There are even "Jumbo Loans" still available, I was told recently by a local bank rep.

Low interest rates have been gracing the real estate market with their presence for the past year but the word on the street is that they won’t be here much longer.  While mortgage rates aren’t going to skyrocket out of sight, it is doubtful that they will decrease and certain that they will steadily begin to rise.

For those wishing to lock in at below 5%, the time just might be now or never (or at least for a very long time).  This past week, the first week in January, the average 30 year fixed mortgage rate was 5.09%.  The general sentiment among economists is that rates are not going anywhere but up from here.

The strengthening of the economy equals less chance for discounted rates.  If you want to refinance or purchase real estate, now might be the best time to do so.

For more information on mortgage rates click here to look at a recent article from CNNMoney.com.

Posted: 07 Jan 2010 11:23 AM PST

One way to check out a realtor is to visit their website. Often personalities are mirrored with the quality and ease of use that a good website gives you. In Coos Bay/ North Bend, here on the Oregon Coast, I made sure to include information about local communities to help acclimate buyers to this area.

Take time to choose the right broker when selling your home

When preparing to sell your home it is important to find a real estate professional that will best suit your needs.  A warm handshake and a friendly smile is all well and good but if you want to sell your home pick a broker that is experienced and knowledgeable, someone that will do the best job for you.  When selecting your real estate agent here are a few things to keep in mind:

Data.  Get a prospective Realtor to bring in a copy of what they have listed and closed.  They can present you with an MLS report that displays their inventory.

References.  Get references from a potential Realtor and call them.  Find out what other people’s experience with a particular Realtor has been.

Price.  Get an evaluation of your property.  A solid real estate professional will be able to detail what has been selling and for what price.  He will be able to evaluate your home and your location, giving you a value for your home that will help sell it not deter people from looking at it.

Plan.  What does your Realtor plan to do for you in terms of marketing, sales, listing, etc.  Make sure he has a plan for your house and find out what he is willing to do to get it sold for you.

Real estate is often a person’s most valuable asset.  Do your legwork and choose the best broker for your home.  He or she should be a salesperson.  If they can sell themselves to you perhaps they are halfway to selling your home for you as well.

Posted: 06 Jan 2010 01:24 PM PST

 Exterior improvements give more of a return when remodeling

There is an annual report that examines the cost versus value for home remodeling.  The report is helpful for those who are considering making improvements to their homes, especially if their home is one that they consider selling in the near future.  Historically, bedrooms and bathrooms are where people consider spending their money but the return on the remodel investment is not necessarily there.

According to the 2009 Remodeling Cost vs. Value Report the best return for your money are exterior improvements that often are lower cost projects to begin with.  Adding decks, replacing siding, new doors and windows are among projects that recoup the most money when re-selling a home.  The return on these projects is typically 80% or more.

The annual report shows how important first impressions are.  If you are considering selling your home make sure that the exterior is as eye catching as it can be.

Click here to learn more about remodeling costs versus value at The National Association of Realtors’ website.

Posted: 22 Dec 2009 08:12 AM PST

It is still a buyer's market for awhile...

About 40% of our buyers come from outside the area. In other markets, the real estate market has come back already. What that means for Coos Bay is that they are able to sell their homes and purchase here.

In Coos County the market is shifting. Prices in 100-175,000 range went down 12% in price from October to November because of foreclosures coming on the market and selling fast. At the same time, the inventory of homes for sale was 10 months in October compared with 24 months just last May.

Following is more news to support that other parts of the country are recovering in the real estate market. Coos Bay is still behind.

National Mortgage News

December 23, 2009

National Mortgage News subscribers: get your full-text news at http://www.nationalmortgagenews.com/premium.

• Home Prices Rise, According to FHFA Index
  Home prices rose 0.6% in October and rebounded from a 0.4% decline in September, according to a house price index compiled by the Federal Housing Finance Agency.

• California's Inventory Drops to 4.5 Months
  The inventory of unsold existing single-family houses in California is now down to a manageable 4.5 months, according to the monthly roundup of sales activity by the state's Realtor association.

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When it comes to real estate the general sentiment appears to be that of putting 2009 in the past and looking forward to a brighter 2010.  Looking at where we are and where we are headed as far as real estate goes will take us from the present into the future.  Currently home values are affordable, because prices are low and interest rates are low.  Both of these low levels add up to the fact that it is a great time to be a buyer when it comes to real estate.

Interest rates have been hovering at 5% or lower for the better part of the past year, a trend that cannot be expected to continue.  As the market stabilizes more and the economy gets better, interest rates will rise.  While home prices still may drop in many areas of the country, they will not drop much more. 

Areas that are less affected by foreclosures, short sales and REO properties are likely to level out faster than other areas due to the lack of distressed sales in their inventories.  A rise in interest rates may bring real estate prices down to sell but the days of 20% and 30% decreases appear to be unlikely.

In a nutshell now is a great time to buy if you have been waiting for the right time to plunge into the market.  Take advantage of low interest rates while they are here.  It is a buyer’s market now, it won’t be forever.

For an interesting analysis of the real estate conditions and a forecast of 2010, by CNN Money, click here.

Posted: 15 Dec 2009 08:59 AM PST

 Waiting for the bottom in real estate is similar to grabbing a yo-yo at the bottom, you are usually a little early or a little late

There are many people out there waiting for the bottom to hit in many facets of the economy, including real estate.  Perhaps there will be a big announcement one morning across newspaper headlines and across the internet “THE BOTTOM IS HERE: NOW IS THE EXACT MOMENT TO BUY”.  Of course by the time the announcement comes the bottom will have hit and the exact time to buy real estate will have come and gone.

A great analogy to the bottom of the real estate market is a yo-yo.  Take a yo-yo in your hand and use it.  Can a person grab the yo-yo at the exact moment it hits bottom every time?  Chances are a person will grab it just before it hits bottom or just after, rarely at the exact bottom.   Real estate is the same game, if it is indeed a game.  If people knew, absolutely knew, the exact time to buy stocks, real estate, or any other investment then no one would ever have a financial worry.

For people who believe in investing in real estate now is a great time to buy.  Interest rates won’t be low forever, real estate has either already hit the bottom, is about to, or is already on its way up, we’ll know for certain sometime in the future.  If you want to buy at the bottom, buy now or wait until it’s too late, when you can look back and say, “If only I had bought then.”

Examine the Closets in Your Home

Posted: 12 Dec 2009 08:06 AM PST

An organized closet can make the difference when trying to sell a home

When considering selling real estate the question surfaces, what can I do to improve my home and make it more appealing to a prospective buyer?  Looking at your closets might be the answer.  Closets may be the small improvement your home needs when getting ready to sell.

Newer homes tend to have bigger closets and they aren’t just dark spaces with doors any more.  Today’s closets, thanks to companies like California Closets and other offshoots, are filled with light and organized spaces like drawers, shelves, shoe racks and hanging bars that hang at different heights to accommodate different articles of clothing.  Some closets come across as small rooms.  Regardless of whether you have a new home or an older home, if your closets aren’t organized they can be.

Closets can be do-it-yourself projects or created by a contractor or a closet company.  Remodeling closets can be an inexpensive re-model that can add value to the sale of your home without breaking the bank.

Jan Delimont

Prudential Seaboard Properties

www.coosbayorproperties.com

Buyers are looking at the basics. In Coos County, a good roof is critical with our winds and rain on the coast. A nice entry welcomes buyers. Just like meeting a person for the first time, that first impression (the entry) sets the tone for the home tour. When you click into more information of the cost vs. value at the bottom of the page, you will learn more about where to invest or not invest, in remodeling.

Jan Delimont

www.coosbayorproperties.com

541-290-1850

800-752-6361

Prudential Seaboard Properties, Coos Bay, OR

Posted: 22 Nov 2009 05:51 AM PST

Take a look at the cost vs. value when taking on a remodel project

Be careful what you spend these days when you are thinking about remodeling your house.  Home values are down and so are the recovered costs of remodeling.  In 2005, at the peak of the real estate market, approximately 87% of the cost of a remodel would be recouped in the sale of a home.  Today’s real estate market is recovering approximately 64% of the remodel costs.  Everybody is watching their wallets, so if you are considering a remodel think carefully.

While remodel costs are down it is important to remember that home values are down too.  Unless you want to stay in your home for a long time you cannot count on recovering costs of a major remodel.

The most cost effective remodel items today are: Roofing, siding, windows, and doors.  Similarly, redoing a basement or attic is recommended instead of adding an addition.  These items are recommended because a seller will recoup a greater percentage of the cost when they sell their home.

For more information on current cost versus value click here.

September is known o have some of the best weather on the Oregon Coast. Partly, it is the last chance before the rains of winter start. Mainly, it has less wind and warmer days. "It is like Living in a National Park" , according to a new "Leadership Coos" participant, recently.

The World newspaper recently noted this is a great year for salmon fishing in the Bay.

Crab was exceptional this year too. My son and husband caught 3 this week near Charleston off the docks.

While my son visited, we went to Golden and Silver Falls for a hike...this is the life.

We Love Living Here!

SOLD! $300,000+

Homeowners can feel better about our summer housing market up-swing in Coos County. With low interest rates , the $8000 tax credit for first time buyers (including people that have not owned a home for over 3 years), and sunny skies, business is picking up.

Contact me with any of your Real Estate questions.


Jan Delimont
Prudential Seaboard Properties
556 North Bayshore Drive
Coos Bay, OR 97420
541-290-1850
800-752-6361

Last week at our Sunrise Rotary Meeting, I listened to the writings in the Constitution for the first time in decades. It was long and had information in it that reminded me what independence from Monarchy is supposed to be. Shame on me for not studying our history more thoroughly. The night of the 4rth I met one of our local teachers who is serving us in the National Guard. What sincerity of spirit he has, we are truly fortunate to have people like him protecting us.

Jan Delimont
Prudential Seaboard Properties
556 North Bayshore Drive
Coos bay, OR 97420
541-290-1850
800-752-6361