Window of Opportunity Sales Event - Villebois Village Center - Ends April 30th, 2010

To learn more about the Window of Opportunity Sales Event in Villebois, please call 866.580.2836 to speak with Costa Pacific Homes New Home Specialist Andy Green or email Blog@CostaPacific.com.

*Valid only on finished homes in the Villebois Village Center.

There is a nice windfall for some homebuyers with the economic stimulus bill signed into law by President Obama in February. This historic bill gives first-time homebuyers the ability to claim a tax credit worth $8,000, or 10% of the home’s value – whichever is less on their 2008 or 2009 taxes.

A big plus is that the credit is refundable, meaning tax filers see a refund of the full $8,000 even if their total tax bill (the amount withheld they paid during the year plus anything extra they had to pony up when they filed their returns) was less than that amount. Does that mean if I purchase a home in the Villebois Village Center now that I would get an extra $8,000 added on top of my current refund? The short answer is…Yes!

Here are three scenarios that help explain this new tax credit:

Scenario 1: Your final tax liability is normally $6,000. You’ve had taxes withheld from every paycheck and at the end of the year you’ve paid Uncle Sam $6,000. Since you’ve already paid him all you owe, you get the entire $8,000 tax credit as a refund check.

Scenario 2: Your final tax liability is $6,000, but you’ve overpaid by $1,000 through your payroll withheld. Normally, you would get a $1,000 refund check. In this scenario, you get $9,000, the $8,000 credit plus the $1,000 you overpaid.

Scenario 3: Your final tax liability is $6,000, but you have underpaid through your payroll withheld by $1,000. Normally, you would have to write the IRS a $1,000 check. This time, the first $1,000 of the tax credit pays your bill, and you get the remaining $7,000 as a refund.

To qualify for the tax credit, the purchase must occur between Jan. 1, 2009 and Nov. 30, 2009. Buyers may not have owned a home for the past three years to qualify as a “first-time” buyer. You must also live in the house for at least three years, or you will be obligated to pay back the credit.

Additionally, there are income restrictions. To qualify, buyers must make less than $75,000 for singles or $150,000 for couples. (Higher-income buyers may receive a partial credit.) Applying for the credit will be easy as doing your income taxes. It will be claimed on your return. No other forms or papers have to be filed. Taxpayers who have already completed their returns can file amended returns for 2008 to claim the credit.

* Blog entry referenced from CNNMoney.com

Contact Andy Green with Costa Pacific Homes today at 866-580-2836 or Blog@CostaPacific.com for more information on how you can secure your historic low interest rate and live in Villebois.

The biggest risk for homebuyers in today’s real estate market is interest rates, not price depreciation. Yes, home prices are currently experiencing a bit of pressure, and yes, there is inventory in the market, but waiting to define a “bottom” in a real estate downturn that is 24 months old in which prices have already adjusted, is very difficult.

The bigger issue and real risk to buyers are interest rates. A sudden rise in interest rates can easily erase the benefit of finding a home at a “bargain”. Long-term interest rates are directly impacted by the health of our economy and inflation. If the economy is struggling or if there are increased expectations of inflation, long-term interest rates will rise. Both of these factors are at work in the current market.

Why are rising interest rates so “bad”? Because most people finance the purchase of their own home and any increase in interest rates will decrease what an individual can borrow. The impact is significant. Here’s an example:

A 0.72% interest rate increase for a borrower who qualifies for a $400,000 loan would reduce their qualification to $370,482. This is a decrease of 7.4%. Unless the home has depreciated 7.4%, or the seller cuts you a “deal”, you’ve lost. By waiting for interest rates to decrease, you’ll qualify for less, or pay significantly more in interest over the term of your loan.

No one can accurately predict the future of real estate values, but historical trends tell us that long-term real estate investing in Oregon is a sound decision. In addition, prices have already adjusted in many markets. That’s why Oregon master planned community, Villebois, is a good choice if you are considering buying a new home. Now is the time. Interest rates are still relatively low and the risk of rising interest rates is quite real.

Whether you are a first time homebuyer in Wilsonville, Oregon, or you are looking to invest in Oregon real estate, the Villebois Village Center is just what you’re looking for. Invest with Costa Pacific Communities, Oregon builder/developer. There is even an amazing leaseback opportunity currently being offered on the first homes available in the Village Center.

Call 866.580.2836 or email Blog@CostaPacific.com for more information about how you can secure your historically low interest rate and live in the Villebois Village Center.

Not when it comes to living in Villebois in Wilsonville, Oregon. Homeowners in this community rave about the decision they made to buy here. They wish they had this community years ago, and tell all their friends they need to buy here too. Homeownership is the key to sustainable cities and economies, and Villebois Village Center is designed to do just that. It becomes a self-fulfilling prophecy that when you buy here, you will tell others, and more will come, and more businesses will be supported, and the economy will thrive. Costa Pacific Communities has created a vision to sustain the local Wilsonville economy and keep homeowners right where they need to be…in Villebois.

Call 866.580.2836 or Blog@CostaPacific.com for more information on how you can become the next homeowner in the Villebois Village Center. Or visit Brad Hansen and Chad Krober at www.myportlandmortgage.com to get pre-qualified.

For example, if the model home sale price is $400,000, you would receive a $36,000 annual lease or $3,000 monthly payment. That is an amazing deal!

During the lease period, Costa Pacific will even reimburse or pay directly all property taxes, insurance, HOA dues, all utilities and maintenance. After the period of leaseback is completed and we no longer requires the use of the home as a model, we will convert the model to a traditional home (i.e. remove capture fences, convert office to garage, etc.), remove all of the furnishings and draperies and have the home professionally cleaned.

How could you say “no” to an investment like this?

For more details about this exciting leaseback opportunity, please call 866.580.2836 or email Blog@CostaPacific.com.

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

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

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