Home Buyers Archives - SkyBlue Portland

One More Time… You Do Not Need 20% Down to Buy a Home

So, you think you need a 20% down payment to buy a home in 2019? Not true. Not true. Not true. The biggest roadblock renters face when deciding to buy a home is saving for the down payment. Which is a challenge with rising rent prices eating into the savings plan each month. Along with the challenge of rising rent prices, surveys show that non-homeowners believe they need 20% or more for a down payment. Double whammy! According to the “Barriers to Accessing Homeownership” study commissioned in partnership between the Urban Institute, Down Payment Resource, and … Continue reading...

Does Buying or Selling a Home Have To Be Stressful?

At SkyBlue Portland, we understand that buying or selling a home can be stressful. But it doesn't have to be! Here are six actionable steps you can take to help make the process a whole lot easier. Six Easy Steps to Buying or Selling a Home Know your agent! Shopping for a home is the biggest purchase you may ever make. To avoid the common pitfalls, it makes sense to establish a relationship with a knowledgeable realtor before making an offer. Understand all the costs involved. Talk to your realtor and lender and make sure you understand all costs upfront. … Continue reading...

Excited About Buying A Home This Year? Here’s What to Watch

As we kick off the new year, you may be considering buying a home in 2019. Here's what you need to know. Whether you are thinking of finally ditching your landlord and buying your first home or selling your starter home to move into your forever home, there are two pieces of the real estate puzzle you need to watch carefully: interest rates & inventory. Interest Rates Mortgage interest rates were on the rise for much of 2018, but they made a welcome reversal at the end of the year. According to Freddie Mac’s latest Primary Mortgage Market Survey, rates climbed … Continue reading...

Will Waiting to Buy a Home Cost Me?

Thinking about buying a home? But uncertain about market timing? You're not alone ... first-time buyers, step-up buyers, and downsizing buyers all face the same dilemma. Move now or wait a year? It's a challenge not to be paralyzed by the constant barrage of contradictory headlines about the real estate market. But remember -- headlines are written to capture readers attention and the easiest way to capture attention is to generate fear. If you take the time to read beyond the headlines, you'll find that real estate market conditions today are positive and the … Continue reading...

Are You Concerned About Housing Affordability?

As home prices continue to rise due to lack of inventory, home buyers are concerned about housing affordability. Just a few years ago, foreclosed properties sold at significantly reduced prices and the deluge of distressed homes for sale pulled all home values down. It was difficult to sell at any price. It was also difficult to buy -- lending guidelines were strict and buyer confidence was low. After the market absorbed the distressed properties, home values accelerated rapidly, and the market experienced multiple years of double-digit appreciation. Today, … Continue reading...

The Home Inspection: Do You Need It?

As an Accredited Buyers Representative, I always advise my clients to do their research and get a home inspection. A little caution goes a long way to ensure that you get the home you want, without any unwanted surprises later. Home inspections are typically paid for by the buyer and are usually completed within 10 days of mutual acceptance. The cost varies depending on the company and the inspector. But in general, you should be prepared to spend between $400-$800. There is an additional cost for radon testing and a sewer scope. Related: What’s a Buyer … Continue reading...

What’s the Difference Between Average Sale Price & Median Sale Price?

Here’s a question we get all the time in the real estate business. What’s the difference between average sale price and median sale price for a Portland Metro neighborhood? Good question—because it’s like comparing apples to oranges. Each one gives a very different taste of the market. Average Sale Price Let’s start with Average Sale Price. It’s determined largely by the numbers on the extreme ends of the price spectrum. To give a non-real estate example, if we have 5 people with ages of 1, 2, 3, 4 and 55, and we want a single number that represents the … Continue reading...

Tune Your Funky Monkey Credit Score in Five Easy Pieces

Does a flat credit score have you singing off key? Tune that score with these 5 easy pieces. Monitor your credit score. If you’re like a lot of folks, you don’t know your credit score. No worries, we’ve all been there. To orchestrate a credit score tune-up, you need to know your current score, credit history, and which accounts (if any) are negatively affecting your score. Check out this recent comparison of top credit monitoring services to see which services best fit your needs. Many of them provide a free credit report, as well as daily credit … Continue reading...

Buyer Planning Guide

Considering buying a home? Check out our FREE buyer’s guide. This guide is loaded with information that you can use to help you plan to purchase your dream home. You’ll discover: Four Reasons to buy this winter Buying is 37% cheaper than renting Home prices year over last year What to expect when buying a house Why you need a professional when buying a house Click the black pop-out box in the upper right corner of the guide to download, print or read the guide online. … Continue reading...

Free Buyer’s Guide

Considering buying a home? Check out our FREE buyer’s guide. This guide is loaded with information that you can use to help you plan to purchase your dream home. You’ll discover: 5 reasons homeownership is a good investment. 2 myths that can hold you back from buying. Home prices year over last year. Is your first home within your grasp? Why pre-approval should be your first step. Click the black pop-out box in the upper right corner of the guide to download, print or read the guide online. … Continue reading...