Heart & Home Real Estate - Eugene Realtors

The answer to this question is: 'yes' and 'no'. Please see the link below to our blog that helps to answer when this makes sense to do. https://www.lanecountyhomes.net/blog/should-i-buy-down-my-interest-rate

Buyers & Realtors should take precautions when viewing homes in today’s real estate market. With all the advanced technology, there’s a good chance you are being recorded and/or eyes are watching you. Make sure to ask your real estate agent about what the home policies are & if the sellers have any rules they are asking viewers to follow. Camera’s on or off, you want to be a polite & courtesy guest. Also, if you have interest in a home you are viewing, make sure to discuss any prices or negotiating terms away from the home (in case there are recording devices).

A buyers credit score has a huge impact on what their monthly rate & payment will be. A score of 780+ is ideal for the best rate & loan option. Debt to income also plays a factor in your loan financing ability. If you have credit card balances, you should pay them off, or at least pay them down to about 20% of the maximum amount you can borrow on each card. This will both improve your DTI (debt to income) ratio, and possibly improve your credit score as well. You can purchase a home with as little as 3% down, but it will come with an added monthly obligation called: mortgage insurance. To avoid mortgage insurance, 20% down is typically what a lender wants for down payment. If in a bidding war & competing against other buyers, the more the down payment, the stronger the buyer "looks" to many sellers.

Buyers should definitely explore lenders & interest rate options. We recommend talking to 3 – 4 lenders. The tell all rate is the APR (annual percentage rate), which factors into it the costs associated with the loan. Just remember that rates change daily, so an APR on Tuesday can look different than an APR on Thursday. It’s a good idea to compare rates & fees on the same day.

Earnest money is a deposit made to bind & execute a real estate contract. In Oregon, 1% of the sales price is a typical amount you will see on a contract and our state contracts protect the buyers earnest money with such contingencies as: inspections, appraisal value, review of title report & property disclosures, as well as an overall lending/financing contingency.

Cost per square foot is a great way to compare value when all things are equal, but can be a very relevant measuring tool depending on: area, home style, and amenities. Different locations will have different prices per sq foot depending on the desire & demand for an area. As well, single level homes tend to price higher (price per sq feet) than two story homes, and updated move-in-ready homes will price higher than dated/deferred homes.

The quick answer is: Absolutely! We've helped several dozen 'out of state' clients purchase homes virtually. And with Covid-19, we are making as many processes as possible - virtual. Some examples are: - Video home showings & tours - Virtual Consultations - Electronic signatures - Video interview with home inspector - Mobile notary & offsite closing signings

1. To qualify as a 1031 exchange, the property being sold and the property being acquired must be “like-kind.” 2. Identified real estate must be investment or business property only 3. The exhange of real estate must be equal or greater in value 4. Needs to be identified with the same taxpayer. 5. You have 45 days, post close, to identify new property & 180 days to close on that new property. For more information, please see our article at: https://www.lanecountyhomes.net/blog/1031-exchange-eugene-or

1. Whole House Inspection: With every home purchase we always recommend a general whole house inspection. Your home inspector will inspect things in the home including: foundation, roof, the home siding, observe the attic & crawlspace, the heating & cooling units, check all electrical, plumbing in kitchens / bathrooms / laundry rooms, patio & porch structures, water heaters, doors, windows & appliances. 2. Sewer Scope: We also recommend a sewer scope as they are relatively low in cost to have inspected, vs. the high costs to do repairs should there be any complications or issues with your sewage drainage. 3. Radon: If your home is on a slab and doesn’t have a crawlspace where this gas can escape, we recommend a radon test. Other tests may include: septic, well & water (if its a rural home), asbestos, lead-paint, siding. For more information about home inspections see: https://lanecountyhomes.net/blog/home-inpsections-eugene-oregon

In Summary, here are the major impacts: · For the first 12 months of occupancy, a landlord may terminate the tenancy without cause with a 30-day notice. · After the first 12 months of occupancy, a landlord may only evict a tenant for cause. Such as not abiding to the rental policy or selling the property. · Small landlords (4 or fewer units) do not have to pay relocation expenses. · After the first 12 months of occupancy, the fixed-term lease will automatically roll over to month-to-month unless the landlord has a tenant or landlord-based reason to terminate. · Landlords may increase rent by no more than 7% + consumer price index in a 12-month period. To learn more, please visit: https://lanecountyhomes.net/blog/sb608-eugene-real-estate