Many of you may already know what HAP stands for and how it helps First Time Homebuyers, but let me just go over the basics of what HAP is and then I will get into the reason of my blog today.HAP stands for Homebuyer Assistance Program. It is offered and available to First Time Homebuyers that are interested in buying their home within the city limits of Eugene. HAP offers as a Down Payment Assistance a loan in the amount of $10,000 at a 0% interest and payments are defered untill the property is sold, refinanced or the primary borrower is transfered out of title. If any of the said actions take place then the loan of $10,00 would have to be repaid back to the city of Eugene. There are certain income limits (depending on HouseHold size) that the borrower must be under and sales price as... 01/31/2008

How to prepare for a short sale listing The first problem we face when working on a short sale, is that we are not the owner, but need to discuss matters of their loan with full authority and disclosure. This requires an authorization from your client.  A typical authorization will authorize you to speak on their behalf regarding their loan. It is usually best to avoid the Power of Attorney so as to limit your liabilities to not exceed your expertise. Your letter of authorization must have some specific information: Name of borrowerLoan #Social SecurityVesting of authority to specific individualSignature of  borrowerPhysical address of propertyContact info for the agent The first thing to do once the loss mitigator has acknowledged your authority is to find out the drop dead date when ... 10/24/2007

HUD has eliminated the use of the DPA (Down Payment Assistance) programs like AmeriDream, Nehemiah and Quick.com. These programs allowed the seller to give the money for the down payment to a third party "charity" that would in turn gift the money to the buyer. HUD is no longer going to accept these programs as an acceptable source of gift funds for down payment. Also affected is the use of FHA and Oregon Bond with Cash Advantage. You may no longer use the Cash Advantage for down payment on FHA Oregon Bond loans only (Conventional Bond Still ok). HUD recently issued a ruling that prohibits use of such programs as AmeriDream, Nehemiah, etc. and included reference to other cash assistance that is from an interested third party or other entity. This regulation will be effective October 31,... 10/12/2007

The Mortgage crisis is mostly media hype. A lot of the reason for this is that the media needs something to write about. The subprime market has taken a big hit but, it is from those companies extending credit to people who could not afford the obligation. Real Estate is NEVER a bad investment and we (in Oregon and the pacific northwest) are still just fine. Although the market has slowed a little bit, we still have thousands of different loan programs, with hundreds of lenders. Interest rates are still VERY low and staying stable. Guidelines for lending have tightend up, but most people who can actually afford home ownership still have 100% financing available. go to my website to apply today! 579loan.com or riddleatprecisionfunding.com Have a great day!!!  10/04/2007

  September 28th apparently their was an item pulled from a gentleman's luggage that resembled a pipe bomb. This stalled the airline for about 4 hours and the FBI was called. It turned out to just be some household items in a metal pipe but they didn't want to take any chances with the 9 inch pipe that resembled a home made bomb. It was reported, but not confirmed, that the pipe had 3 rolls of dimes inside of it.  Maybe it was an innocent mistake but you'd think many people would have an idea of what might come across as suspicious and would try to avoid anything of that nature. Regardless of his intentions Federal Prosecutors are contemplating filing charges against the unnamed Eugene man. The person was allowed to board his flight which was headed to Denver and then was held up there ... 09/30/2007

Taking the mystery out of foreclosures! I get asked questions about foreclosures all the time.  I will do my best, in this blog, to answer those questions and educate the public on foreclosures, short sales and distressed properties. Today, the numbers of these sales are rapidly rising. If you're interested, the current buyer's market in most cities is a great time to acquire these below-market-value properties. SOME CAUSES OF FORECLOSURES AND DISTRESSED  PROPERTIES INCLUDE  divorce, unemployment, drugs, alcohol, death or serious illness in the family, disputes between owners, local economic conditions, mental problems, and good old-fashioned greed. But the real reason for foreclosures and distress property situations usually is the borrower isn't acting rationally to solve the problem... 09/24/2007

Well as another deal goes to escrow, I can't help but wonder why other agents are having such a difficult time adapting to a changing market.We have seen our share of difficult listings this year, but we are still getting decent offers. I think one of the main issues agents are having is their inability to communicate to the seller's current market conditions effectively.We use a Top Producer regimen to keep all of our sellers posted as to the current comps so that they have a clear idea of what they are competing against. If they don't want to get real about price, then we are going to end up terminating or never entering into that listing. If you bought your house last year and financed in your closing costs you are not going to sell your home for a profit this year! We won't be telli... 08/30/2007

You may not be aware of it, but most of the services your cell phone company charges you to use/access such as text messaging, email access, myspace and other social networking website access, Directions by maps, information can all be accessed for no additional charges when you add an unlimited data plan. Say for example that your cell phone company charges you $10 for unlimited text messages.  If you launch your browser, you can send text messages for free through third party software, utilizing your data connection. One such provider is Migg33 or cellity freeSMS Your cell phone charges about $5-$10 a month for a mapping service, however Google Maps is a free download for your cell phone, and utilizing your data connection you can get high quality maps with your directions leg by leg.... 08/06/2007

A recent article in Forbes magazine covers some of the best and worst housing markets in the U.S. Eugene falls into the best category. To summarize, the author explains that Median home prices in the Pacific NW as a group soared; in Portland, Oregon, prices jumped 8.9% and the Eugene / Springfield area increased 5.9% during the same time period. We are now witnessing is growth in regions which still have a strong economy, but didn't see the overblown prices that were seen in many other areas".Our current median home price is $236,800 as of June, 2007. High inventory numbers have been the one thing that has slowed the growth rate to an above average 5.9 percent. This is a very reasonable gain when looking at the entire United Sates as a whole. 06/18/2007

I have some great news to share!!! Effective, Friday, May 18, 2007, Team Thayer has joined Keller Williams Realty. Keller Williams Realty is one of the fastest growing real estate companies in North America and has been voted one of the best places to work. We have had a great relationship with RE/MAX Integrity, but feel this move is right for our team, and our clients. With the change of real estate brokerages comes the opportunity to expand the services that our team may provide to you, our most valued clients. We are certain this move is going to be great for both our Team and our clients. Should you have any questions or comments, or if you have any friends or family in need of our services, please don't hesitate to contact us. www.teamthayer.com 541-914-4785 - Liz 541-543-7287 - J... 05/22/2007

The market is starting to heat-up as it does every Spring. There is an increased inventory of homes for sale in our local market. There has only been a small increase in median home prices over the last two months (since Feb. 2007). The quantity of homes is a treat for buyers, concerning price and selection. At this time, we recommend that sellers consider all offers seriously. This is a buyers market.This chart shows the Median Home Price Changes for Eugene, Oregon.Visit us for more Real Estate information.  05/14/2007

Statistics from the National Association of Realtors shows that over 80 percent of real estate buyers view property listings on the Internet before they move forward. These percentages continue to grow every year. Video tours have shown to be twice as effective as photos. We are included in the minority of agents and brokers who find our presence on the Internet is a necessity. The stats actually show that only 45% of Realtors employ the web for their businesses.We have been using and continue to harness the power of the web for our clients. Visit our real estate site for more more information.  05/03/2007

When real estate shows signs of a rebound, investing in real property becomes more popular. There is a right way and a wrong way to go about investing. Here are a few mistakes investors often make: Planning as you go. - The best way to solve the problem is to have lots of activity and make offers on multiple properties. You must also have multiple exit strategies. Some investors buy a property with the intention of selling it or renting it out. What if it doesn't sell? What if the rental market stalls?If Plan A is to rehab the house and then sell it, Plan B could be to offer it as a lease-purchase. Plan C might be to rent it out and Plan D could involve selling to another investor at a below-market price. Thinking, "get rich quick." - It's a good long-term investment, but so is putting ... 05/01/2007

Buyers finally have the upper hand.     Welcome to real estate's new reality, where prices are down, foreclosures are up, experts are jittery, and a lot of for sale signs are getting weather-beaten. That may be bad news for homeowners, sellers and investors. Buyers on the other hand, have a rare point of advantage.As a buyer, you now have plenty of choice, as well as the upper hand in negotiations. You also still have the benefit of low interest rates. If you're tempted to upgrade yet worry that your home isn't worth what it was six months ago, keep in mind that the home you want to buy is worth less too. Moreover, if prices have fallen at the same rate on all homes in your market, the discount, measured in dollars, will be bigger for a more expensive house. Say you're in a $200,000 hom... 04/19/2007

Play Video MONICA'S WEATHER: Rain and clouds on the way KMTR NBC 16 Eugene - (KMTR) Apr. 13, 2007. 10:57 AM EST This weekend will be half wet and half dry. Our "friends" at KMTR are nice enough to share their video with us. Here is Monica's forecast showing a weekend to have two plans for rain is in store. Out here we call that stuff liquid sunshine!  04/13/2007

Non-profit groups and legislators are increasing efforts to help people facing foreclosure. Critics state the programs will do little to stop the trend of foreclosures sweeping the nation right now. On Wednesday, the Neighborhood Assistance Corporation of America (NACA), a nonprofit devoted to helping people who have been the victim of predatory lending, announced a $1 billion program that will refinance strapped borrowers out of adjustable mortgages with soaring rates into low fixed-rate 30-year loans.Here in our local Eugene market, things are quite stable compared to the national market. We have seen some leveling, but this has just lead to a return to a balanced market, favoring the buyers. What do you think about the Federal Government or even these non-profit groups stepping in t... 04/13/2007

Play Video MONICA'S FORECAST: Nice and sunny KMTR NBC 16 Eugene - (KMTR) Apr. 05, 2007. 10:18 AM EST A nice weekend ahead too. 04/05/2007

I just love facts and statistics. I know a lot of you who are reading this right now may be rolling your eyes. But to me looking at those numbers tells a different story. It tells us the factors behind every day life in Eugene. It tells us about the plight of our fellow Oregonians, who they are and how they live.Sure there are a lot of things that can not be shown in stats, but you would be amazed how much can be.I was stumbling around the US Census Bureau's website and found these interesting stats:QuickFacts from the US Census Bureau Eugene, OregonQuickFacts · Demographic · Economic · Housing · SocialPeople QuickFactsEugeneOregon Population, 2000 137,8933,421,399 Population, percent change, 1990 to 2000 21.1%20.4% Persons under 5 years old, percent, 2000 5.3%6.5% Persons under 18 year... 03/15/2007