If you’re wondering whether renting is better than buying you need to take many factors into consideration, such as the rate of rising prices, how long you stay in the home, and lost opportunity costs. Compare the costs of buying and renting a home in a calculator we think is just fabulous. Input a few figures and the calculator will tell you which option suits your situation best, along with the specific costs associated with each.
As the heat is finally arriving in Yamhill County, now would be a good time to start looking for air conditioning services to ensure your air conditioner is up to snuff. A central air conditioning system can provide years of satisfactory cooling with relatively little maintenance. However, a seasonal start-up check and periodic maintenance is recommended.
Homeowner Checklist
The amount of do-it-yourself air conditioning maintenance a homeowner can do is limited. However, there are a few steps that can help the system operate trouble-free and minimize the potential for consequential damage. Ensuring adequate airflow is perhaps the most important homeowner responsibility.
When negotiating to purchase a home, many buyers focus mostly on the sales price, which is understandable. After all, a home is typically the largest transaction home buyers have been involved with and the price paid is a huge factor in their monthly payment.
However, in addition to negotiating the price of a home, a buyer can also negotiate to have the seller contribute money from the proceeds to allocate towards the buyer’s closing costs. This money can be used towards either the reduction of cash required to close and/or a reduction in the interest rate on the mortgage which I feel is very valuable. Having the seller pay an additional 1% can lower the monthly payment by around $60-$80 per month.
It’s easy to see the benefits for buyers to have a lower interest rate on their mortgage. However, one aspect of this situation not often considered is that the IRS treats points that are paid up front to lower a mortgage interest rate as pre-paid interest, regardless of who pays the fees. This means that when buyers negotiate to have the seller pay the costs to lower their interest rate, they receive the benefit of deducting them on their income taxes in the year the home is purchased.
By focusing on these terms – and, frankly, opportunities – home buyers can save money both now and over time. Please let me know if I can assist you in any way… I’m here to help!
Travis Newton
Sr Mortgage Banker
Preferred Mortgage
Phone: 503-931-4490
Fax: (503) 779-1234
License: ML137
travis@pmforegon.com
www.travis-approves.com
The Senate has passed a bill to give homebuyers another three months to close on their homes and receive tax credits up to $8,000. The Tax Extenders Bill would apply to homebuyers who met the April 30, 2010 deadline with a signed contract to purchase a new or existing primary residence. The amendment would extend the deadline to September 30, 2010 for homebuyers to close on their real estate transaction. The previous deadline was June 30, 2010. The bill now goes to the House of Representatives, where it is expected to pass.
The National Association of Realtors estimates that as many as 180,000 homebuyers have qualified for the tax credit and met the contract deadline of April 30, 2010, but might not be able to close their transaction by the June 30, 2010 deadline due to the sheer volume of loan applications in the pipeline.
If you have any questions about how the federal tax credits and the extension may benefit your clients, please call me today. I’m available for consultation with your customers. Please feel free to share this news, forward this email, or have them call me directly.
The above content is for informational purposes only and should not be used as a substitute for consultation with a tax advisor.
Courtesy of Kimberly Coleman, Branch Manager Prospect Mortgage
NMLS# 254416
20512 SW Roy Rogers Rd., Suite 130
Sherwood, OR 97140
Office: (503) 305-2344
Cell: (503) 476-7020
Fax: (877) 674-6435
Kimberly.Coleman@prospectmtg.com
Long-time residents and out-of-towners alike will enjoy the events offered this weekend in the McMinnville and Newberg areas
1. The Trilogy Winemaker’s Dinner, Artist Quick Draw, and Art Auction will kick off the summer season with delicious food prepared by local chefs and wine from regional winemakers served in the beautiful setting of the Allison Inn and Spa Resort. 6pm. Note: The Trilogy Winemaker’s Dinner is a 21 and over event. ID’s will be checked at the door and no minors will be admitted.
3. Basketball Game Yamhill High Flyers vs. Oregon Waves 7-9pm. Home game at McMinnville High School.
1. BBQ Class with Caprial & John Pence, Saturday 2 – 5 pmThe Oregon Olive Mill at Red Ridge Farms has partnered with culinary icons, Caprial and John Pence to host a Barbeque Demonstration Cooking Class, showcasing barbequing techniques utilizing Oregon Olive Mill olive oil. Sit back and relax, enjoy Durant Vineyards wine, eat great bbq and interact with Caprial and John. 2-5 p.m., Reservations required at 503-864-2200 or events@OregonOliveMill.com.
2. McMinnville Carnival Daze all weekend.
3. Trash into Fashion Saturday, 6:30 – 8:30 PM
Runway Show will showcase wearable art and fashion made from recycled and/or repurposed materials. We invite professional and novice designers to create garments and/or accessories from “trash” to enter. In addition, the Biggest Turkey candidates will be modeling THEIR recycled garment and the audience will “vote” for their favorite.
4. Carlton Fun Days: Pancake Breakfast, Fun Walk, Fun Run, Parade, Lower Park Activities (Vendors, Children Games, Bouncer, Board Games, Bingo, Croquet, Horseshoe Cup, Photo Contest, Silent Auction, Stick Cattle Roping and Stick Horse Rodeo, Chili Cook-off, Live Performances from bands.
1. McMinnville Garden Club’s 10th Annual Garden Tour
2. McMinnville Lions Club‘s 24th Annual Drive-In and Fly-In 7am-12pm located at the McMinnville Airport.
All you can each Pancake Breakfast (Ham, Eggs, Pancakes, Juice, Coffee, Milk). All proceeds go to McMinnville Lions Charity Programs. The public is invited to bring their Antique, Hot Rod, Street Machine, Muscle Car or other interesting car or airplane and participate in the show.
To our Clients and Friends,
It has been a few months since I wrote a commentary on our market conditions. We have been exceedingly busy with increased market activity, further developing and refining our business models and strategies for changing times, and working on absolutely grueling transactions to hold them together and get them closed.
How are our local markets?
Each week, on both our website and our blog, we post all the properties in Yamhill County that have gone pending (an accepted offer), and closed (sold). You can see every property that is selling by city, address, price, and basic information about the home. If you call or email us, we can send you fuller information on any property.
Regarding sales and sales activity, this year is better than last year, which followed the financial meltdown of late 2008. We have more sales and finally in more price ranges than starter homes. While we are grateful for more sales, we remain at lower levels than is acceptable to us and our clients.
Continue reading “How are local Yamhill County Real Estate Markets?”
Rates as of Monday, June 14th, 2010.
Travis Newton
Sr. Mortgage Banker
Oregon FHA & USDA Financing Expert
Preferred Mortgage
503.931.4490
Get Pre-Approved Here
ML-137/NMLS-269195
Oregon Brews & BBQ’s (a benefit for McMinnville Habitat for Humanity)
Located in McMinnville on 5th & Lafayette Ave in the Granary District
Friday 3:00-10:00
Saturday 12:00-10:00
Looking for the perfect Father’s Day gift? Konect Aviation has just the thing, a scenic helicopter flight over Oregon wine country! This Father’s Day Weekend, June 19th and 20th, Konect Aviation will take you and your dad soaring above the majestic Eola and Amity Hills. So grab your dad and your camera and get down to Methven Family Vineyards for a Father’s Day Dad will never forget. Father’s Day flights start at $45. All dads receive a $5 discount. And if the ticket is purchased in advance on the Konect Aviation homepage, fathers get their winetasting for free! Phone: (503) 376-0190
Spruce Goose – SR-71 Blackbird Symposium
Spend Father’s Day at the Evergreen Aviation & Space Museum in McMinnville and listen to a panel of experts on the SR-71 Blackbird, one of the coolest reconnaissance aircraft ever created. Dad will never forget the Father’s Day where he met the people how flew and worked on the SR-71, as well as listened to the stories they have to tell. For a more personal experience, enjoy an exclusive SR-71 dinner with the experts Saturday night.
Saturday & Sunday June 19-20
10am & 1:30pm: Sessions featuring a panel of SR-71 experts (Free with Museum Admission)
Saturday only June 19
6pm: Dinner with the SR-71 Experts (Dinner Pricing below)
$30 General Admissions
$20 Musuem Members, Veterans, Active Duty
$15 College students (must have ID) & Youth under age 18
Cliff Creek Cellars and Olive You Restaurant present an all-inclusive Four Course Dinner with Wine Pairings. Cost is $85 per person and doors Open at 5:30 pm. View Menu. For reservations call Bethany at Cliff Creek Cellars: 503-852-0089. Olive You Restaurant is located at 411 NE 3rd St. in McMinnville
Celebrate the return of Western Bluebirds to the park with a variety of fun and educational activities. Champoeg Visitor Center will host “Champoeg Bluebird Day” on Saturday, June 19 from 1:00 PM to 4 PM. Refreshments will be served. There is no charge for attending the event, but the park charges a $5 per vehicle parking fee. For more information call (503) 678-1251 x221.
The sun is shining and now is the time to sign up for the 4th Annual Kiwanis Golf Scramble to be held on Friday June 18, 2010 at the Chehalem Glenn Golf Course. The shotgun start is at 8:00 AM. Golf is $100 per person which includes Green Fee, Cart, Breakfast, Lunch and Prizes. Proceeds go to The Newberg Children’s Library Remodel, College Scholarships, and Mt Hood Kiwanis Camp. Sponsorships are still available. For more information call Terry Molander at (503) 538-2581.
Make an Antique Wire Wrapped Ring
Free: All supplies provided, Kids 6 and older and adults, 11:00 AM – 12:00 PM
Weave Your Own Basket
Free: All supplies provided, Kids 12 and older and adults, 2:00 – 4:00 PM
Primitive Yoyo Flags
Make a Cute Country Flag. Free: All supplies provided, Kids 12 and older and adults, 12:00 – 1:00 PM
