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Down Payment Assistance

Did you know that there are great down payment assistance programs in Southern Oregon?  We have regular fundraisers to help fund the Home Foundation First Time Home buyer Grant Assistance Program.

In 2016 we surpassed $100,000 given to over 100 home buyers, and we still have more money to give. In fact we just raised an additional $30,000.

How do you qualify?

First you need to use a local Realtor (such as myself).

2nd, you need to use a local lender (I’m happy to refer you to one of the good ones who understand the program)

Your household income does not exceed the State of Oregon median income level (this number varies based on family size)

Be a first time home buyer, or have not owned a home in the past 3 years.

If you think this might sound good to you, contact me and we I’ll get you the information to get started.  clientsupport@tenrealtygroup.com

Winter, When the Serious Shoppers Come Out

While it is true that many home shoppers stop looking during the winter, many shoppers still are active. 

In the Rogue Valley, we usually do not have to deal with snow or slick roads to hamper home shopping.  The biggest issue I usually face in the winter is having enough daylight to show properties to those people who work full time jobs. Starting right about now, by the time it is 6 O’clock, it is hard to see outside. And that will only continue to be a smaller window of time as we approach Winter Solstice. 

Reasons why shopping in the winter is tricky

  • Roads are slick
  • It gets dark early
  • Don’t want to change schools for children mid-yearRed bird house hanging outdoors in winter on tree covered with snow


  • Fewer homes on the market than in the spring
  • Properties are looking their “worst”

Advantages to shopping in the winter

  • Houses look their worst…they only get better from there
  • Sellers may be more motivated
  • Less competition from other buyers
  • Might be more likely to take contingency offer
  • Home inspections more likely to find bad gutters or water in the crawlspace

First Time Home Buyers are loved by cool Uncle Adam

I have been looking at the prices of homes in the local market and am seeing the opportunity to get first time home buyers into homes. Adam Bogle in ShadesThere are loan programs out there still that help first time buyers get loans. FHA has a good loan that requires only 3% down. There is a Rural Development loan program that will loan 100% of the purchase price. And conventional financing is still a good option for people who have managed to save some money, get gifts, or inheritances.

I have reposted the article that I just read about the increasing percentage of homes that are being sold to first time buyers.

I love working with first time buyers. It really allows me to educate and guide people through a process that they have not yet seen. There is a lot more work involved with a first time buyer, but I have become personal friends with everyone I have ever helped as a first time buyer.

Buying one’s first home is kind of like having a child in a way, and I get to be the cool Uncle.

 

Quoted from http://www.crs.com/Community?comments=901:

CRS :: MemberConnect


Sales To First-Time Homebuyers Rise: NAR
First-time homebuyers are making up a larger share of the buying market due to low home prices, abundant supply and affordable interest rates, according to new research by NAR. The 2008 National Association of REALTORS® Profile of Home Buyers and Sellers finds that the number of first-time home buyers rose to 41 percent this year, up from 39 percent in 2007, and 36 percent in 2006.

“Although modest, this is a meaningful gain for the 12-month period ending at the close of June, and more recent independent data show a stronger uptrend in first-time buyers who are helping to reduce excess inventory,” says NAR chief economist Lawrence Yun.

The study shows the median age of first-time buyers was 30, down from 31 in 2007, and the median income was $60,600. The typical first-time home buyer purchased a home for $165,000 and plans to stay in it for 10 years, up from seven years in 2007.

The median age of home sellers was 47, and the median income was $91,000. Three-fourths were married couples who had lived in their homes for six years and were moving a median distance of 19 miles. Their home was on the market an average of eight weeks.

Eighty-one percent of home buyers and sellers used a real estate agent. Nine out of 10 would definitely or probably reuse their agent or recommend them to others. These results are consistent with 2007 findings. Mon, Nov 10, 2008