Weattherization Assistance Program

This just in: You can get as much as $6500 for weatherizing your home, from state and local governments. If your family earns less than $44,100 for a family four or $29,140 for a family of two, you qualify for the program to keep your house warmer in the winter and cooler in the summer. For more info call the Weatherization Assistance Program at 800-363-3732. If you don't qualify for the income restrictions, don't worry, the government wants to help you too! There are still tax credits available for installing energy efficient appliances, and making improvements to your home. Some major improvements, including insulation, roofing, windows and doors, HVAC, and new green technology, can be eligible for tax credits. Be sure to research what's available in your state and city, many credits very from area to area, and also check with your tax preparer.

MAX

While this blog is primarily about real estate (hence the name), other info about Portland is also included, especially when it is about livability and quality of life in Portland. As the MAX lines have spread out over the years many people have complained about crime, vagrancy, and general uneasiness while riding the light-rail. While I ride occasionally, and usually just in the Fairless Square from Lloyd Center to downtown, I have never had personal experience with crime, nor have I heard about any problems from friends or colleagues. Well, enough people have had enough problems that now the Oregon State Legislature is getting involved with Tri-Met security. They want greeters and the stations. Like at Wal-Mart. And we all know how nimble and agile the Wal-Mart greeters are, so I'm sure a similar force will be able to stop muggings and scare away street kids. Sure, we all see that happening! And they want the greeters to be volunteers, because Tri-Met is cutting costs right and left, and they don't have the funds to pay any more real security, or to even be able to recruit volunteer security officers. Why don't they take the vagrants that are a constant issue on the MAX and at the stations, give them an orange vest, and let them yell at commuters all day long? People will feel more secure with all the "greeters" and the former nuisances will have a purpose and a reason to get out of the weather on Tri-Met! I kid. The real deal is that Portland is a great place to live, even for the homeless, criminal, and generally creepy. We live here, and love it, why wouldn't they? Be safe, and vote for increased taxes so that Tri-Met will have the money to pay real security to keep the MAX safe.

Short Sales. Really? Is that what they're callled?

I was looking for something new and exciting to write about, but all I could find today was a bunch of news about short sales, and how Bank of America is going to make them so much easier. The truth is that with a short sale (when the seller is going to get less money for the house than they owe on it) you never know how that kind of deal is going to go. It might be quick and easy, with the buyer getting a great deal, or it might be a long, long process where the buyers end up loosing money while waiting around. Most banks, who hold the mortgage and have to authorize short sales, are not very communicative during the process, so you don't know where you stand. Also, betters deals may pass you by while you are tied up in a house that might not work out. The key words here are might, maybe, could, if... you can see that there is nothing definite, and that is the big problem with short sales. The old phrase "Buyer Beware" goes so well with short sales, I think they should be renamed to "Long Sales that Buyers Should Be Wary Of!"

If you live in Portland then you can't help but check out the cover of Portland Monthly in the check out line or at the news stand, and the headline this month definitely caught my eye! The whole city seems to constantly wondering about the real estate market, where we are, and what is the next big neighborhood to boom. "Buy Sell Rent Keep?" Those words are constantly going through my head, and I think the accompanying article had some really good points to it. I especially liked the neighborhood stats, in map and list format. http://www.portlandmonthlymag.com/real-estate/articles/neighborhoods-by-the-numbers/

All the info they provide, plus more, can also be found at www.portlandmaps.com which I use on a daily basis to check on specific addresses, and neighborhoods. www.pps.k12.or.us is the Portland School district's website, and in addition to lots of info on specific schools, it also has a place to plug in any address and find the schools it is assigned to. Researching a property and a neighborhood is very important, there is a lot more that you need to know to make an educated choice about buying a home. It is also important to find out all the positive and negatives about your home before you put it on the market, not only are you better able to set the price correctly, but you can also have good reasons above and beyond the physical structure for people to buy it.

Homeowner Tax Breaks

You may be feeling a little left out if you are not a first time home buyer, since you don't qualify for the $8,000 tax credit. Luckily, there are lots of other ways you can get money back from the IRS if you already own a home, or are selling your present house and moving into another one. If you are looking to make your home more energy efficient, or more desirable to eco-conscious buyers, this is your year to make some big upgrades! Congress lifted a $3000 cap on a 30% tax credit for geothermal heat pumps. Since they usually cost about $20,000, it makes it very desirable to get one installed now. Solar hot water systems are also eligible for 30% tax credits, and they can cost between $6,000 and $10,000. While those might seem like extreme measures for many, upgrading windows, doors, and roofs are a part of normal maintenance and cosmetic improvements to any home. Just as in 2007, this year you can get a 30% tax credit for up $5,000, as long as you can prove that your improvements are meant to last more than five years. Whether you make a big investment in changing how your home works, or just replacing a worn out roof or tired front door, the government is trying to make it worth your while. Your home, either new to you or where your family has lived for many years, is the most valuable asset you have, so taking care of it is taking care of yourself and your loved ones. First time home buyers, don't feel neglected, you can also take advantage of these credits on top of your special $8000 on the home you purchase this year!

Awesome Blog

www.homeownershipnews.blogspot.com

This is an awesome blog from the Portland Development Commission, check it out today! The latest post is for the East Portland Homeownership Fair, which I'm going to attend. It's Saturday, April 18th, 2009. 10:00 am to 2:00 pm at Kelly Elementary School, 9030 SE Cooper St., Portland. There are a bunch of classes being offered, plus a drawing for a $4,000 home buyer's assistance grant.

Bottom Predicted for Portland Housing Market

That's great news, right? Unfortunately www.CNNMoney.com thinks the bottom won't hit Portland until the summer of 2010. That's a long way away for people hoping to buy right as we hit bottom, and people holding out to sell until after we start the upswing. http://money.cnn.com/magazines/moneymag/moneymag_realestate/2009/snapshots/28.html

This is a list of the top 100 real estate markets in the country, when they topped out their market, a prediction for this year, and a guess at when the bottoms are going to finally come. While I can't vouch for the quality of this analysis on other markets, I can say that for first time home buyers in Portland, not the suburbs, competition is getting stiff, not as many homes are on the market that aren't short sales or bank owned, and waiting around for an even better deal may not be a good idea.

The rest of the market in Portland may very well follow www.CNNMoney.com's well thought out analysis, though the idea that prices should drop another 24.4% makes all owners quake in their boots. But have no fear, the market will improve, historically it has always come back from these bottoms, but don't let the uncertainty of the market keep you from buying or selling if the time is right for you. The real value of a home has always been the memories you make and the experiences you have in it, not how much of a deal you think you got on it, or how much of a profit you think you made. Real estate is about living your life, and how you want to live it, not just pluses and minuses on a spreadsheet.