Recently I have been disheartened by the "end of the world" mentality that the national media has given to the housing market.  I want to encourage you to know that we are in one of the best metro city areas for the foreseeable future.  It is predicted that over 1 million people are moving to the Portland metro area over the next 10 years.  We have to find places for these folks to live, and this will keep the market alive and well into the coming decades for Portland, Oregon.  I have copied in some recent information from the chief economist for the National Association of Realtors which clearly points to bright days ahead for Oregon.  If you have any questions about this or would like to explore a refinance or purchase, I am here to serve you.   Hang in there!
 
June 5th, Dr. Yun,  Chief Economist and Senior Vice President for the National Association of REALTORS®. presented the following for the general Portland Metropolitan area.

1)       2008 2nd half of the year will perform better than the first half of the year.
2)      Oregon has the lowest foreclosure rate in all of the 50 states.
3)      2009 will be a good year for real estate in the Pacific Northwest.
4)      Portland area will see 30% appreciation between now and 2013 (5 year forecast)

Below is a link that will give you a snapshot of Dr.’s interview with KOIN 6News.

Portland Housing Forecast

The mortgage market is changing on a regular basis.  Contact us today to find out which loan programs will fit your specific needs or click here Pre-Qualify for Your Mortgage to pre-qualify today.

Chad Krober – MBA
Mortgage Consultant
First Horizon Home Loans
503-682-8204 – Office
503-720-3357 – Cell
ckrober@firsthorizon.com

Each morning of late it seems the headlines shout aloud: “Foreclosures, Bankruptcies, the Housing Market is Crumbling”. Being in the industry as a mortgage consultant, I often tire of the continual barrage of messages that are designed to sell newspapers and magazines, and not inform us as consumers. Yes, the housing market has weakened, and the economy is suffering right now, but all is not lost.

John D. Rockefeller famously once said, “The way to make money is to buy when there is blood in the streets.” Now Rockefeller was referring to investing in our financial markets, but the same principal applies to any business or property investment. When the demand is low, prices will drop and that is when you buy. But, when demand is high, prices go up and you make your money. Pure economics is what drove the boom we saw in the housing market starting in late 2002, and now we are coming off that peak.

Here are 7 key points to consider:

• Interest rates are still as low as they were 6 years ago at the beginning of the home boom in 2002. They are the lowest they have been in the last 38 years with the exception of 2003-04. Source: Forecast Report

• The home that may be 10% lower a year from now will still cost you just as much per month in a mortgage payment as interest rates WILL go up as the Federal Reserve raises the Fed Fund and Discount Rates and as the economy improves in 2009-10 and beyond. You will pay just as much for that home in the future as you will now even though it may have dropped in value. Source: Time Magazine Article

• From a historical perspective the United States economy is NOT IN A RECESSION! We are in an economic adjustment period! Source: US News Blog

• Portland, Seattle, and Charlotte’s housing market actually appreciated in 2007 while 98% of Metro Cities across the U.S. declined. The Urban Growth boundary is a good thing! (Source: Prudential Northwest Properties of Oregon )

• The overall financial benefit of being able to write off interest on your taxes from mortgage payments, property taxes, and mortgage insurance will cut your overall taxable gross income by over $20,000 dollars with a home loan that is $250,000 or higher, literally pushing you into a lower tax bracket.

• Prices have never been more competitive since 2002 in the Portland, Oregon marketplace.

• Owning a home strengthens your personal credit, creates personal financial investment and independence, and pride of ownership. It also helps stabilize the local economy as home owners will spend their dollars locally based on where they live.

The last reason fits perfectly with Villebois in Wilsonville, and why you should consider the lifestyle and benefits of buying there. Villebois will be a community that is independent and will be full of owners who are proud to live there and invest in that community. Their commitment to Villebois will make Wilsonville the premiere community to live in between Portland and Salem on the I-5 corridor!

I and my lending partners, First Team Mortgage Group are excited to partner with Andy Green of Costa Pacific in creating a buying and lending experience that will be unlike any other in the Portland, Oregon area. Come check us out and see why everyone is talking about Villebois!

Please contact us for your for your financing needs. We appreciate the opportunity to serve your needs during the home finding process.

Click here to Pre-qualify today.

Chad Krober – MBA
Mortgage Consultant
First Horizon Home Loans
503-682-8204 – Office
503-720-3357 – Cell
ckrober@firsthorizon.com

Costa Pacific Communities Introduces Preferred Lender to serve Villebois Village Center.

When I set out to find a lender for Villebois Village Center I had a vision that included a lending group that had experience, market expertise, and a commitment to community. I also wanted knowledge of the local market and how to best communicate the excitement of Villebois Village Center. We have found that in First Team Mortgage Group at First Horizon Home Loans. We are pleased to announce that Scott Starr, Brad Hansen, and Chad Krober will be our lending team to support buyers who want to live in, play, and enjoy Villebois Village Center.

We found in these three men a genuine desire to care for the customer but even more, they want to see Wilsonville and Villebois Village Center thrive, and this shows in their commitment to the community by living and serving in various roles. Scott Starr is the president elect for the Wilsonville Chamber of Commerce and serves on the Wilsonville High Athletic Booster Club. Brad Hansen serves as president elect for the Wilsonville Rotary Chapter. Chad Krober conducts bi-monthly first time home buyer informational meetings in the Wilsonville Library that are free to all. First Team also participates in local events helping sponsor the “Fall Food Fest” and “Fun in the Park”, and are highly involved in their local church communities of Grace Chapel and Rolling Hills Community Church.

First Team Mortgage Group was the result of a vision cast by Scott Starr in 2002, who entered into the home lending business after a long career with Coca Cola as Director of National Accounts for McDonald’s. Brad Hansen became part of the team in 2004 after coming from his role as Divisional Vice President of Sales for Con Agra Foods, and Chad Krober joined the team in early 2005 after serving as National Install Director for ISI, the nations leading Car Wash and Lube Software Company. Their brand “First Team” operates under First Horizon Home Loans which has banking roots going back over 150 years. The team was established with the purpose of providing strategic home financing advice and outstanding customer service to individuals for the selection of home loans to purchase, build, or refinance consumer and commercial real estate. Using their business experience they have quickly established a foundation as one of the premier home loan teams in the entire Portland Metro area.

They separate themselves in the lending industry because of five key guiding principles that they operate by. This in turn allows the customer to “Experience the Difference” with First Team. The principles are:

Strategic Planning: taking the time to understand short and long term financial goals and set up a plan to achieve them.

Proactive Communication: calling and emailing to keep you up to date on all aspects of the loan process.

Market Knowledge: hourly updates give them access to where mortgage rates are at all times, and by keeping a pulse on loan programs that could benefit your situation.

Successful Delivery: the internal process that is setup will deliver on the program and services expected on each home loan and on time.

Excellence & Trust: words will be backed up by their actions in seeing that you get into your home with all that was promised on your loan.

In addition First Team offers:

• Fast & Free Pre-Qualifications
• Free Personalized Consultations
• Availability on Nights and Weekends
• Over 100 in-house loan programs to choose from
• Fast Processing and Local Underwriting in Wilsonville
• A representative at your closing to answer any questions

We at Costa Pacific Communities look forward to a mutually beneficial relationship with First Team as we progress toward the launch of Villebois Village Center, and undoubtedly, this partnership will add lasting value to the City of Wilsonville and the surrounding community.

You can contact the team at:

First Horizon Home Loans
8695 SW Jack Burns Blvd. Suite C
Wilsonville, OR. 97070
Brad Hansen – 503.682.8202
Scott Starr – 503.682.8203
Chad Krober – 503.682.8204
www.myportlandmortgage.com

Please visit our website at www.CostaPacific.com for additional information.

Andy Green Costa Pacific Homes, LLC Villebois Village Center Email Me at: Blog@CostaPacific.com Visit us on the web at: www.CostaPacific.com