HEAD IN THE CLOUDS

Yes, this is me with the paragliding gear at the Oregon Coast, specifically Gearhart Oregon. Enclosed is the featured article in Travel Oregon.

Truly one of the most amazing, fun, easy things one can do. The instructors let us know they have clients up in their 80's gliding with them. It is just like Winnie the Pooh with the chair and the balloons.

$8000 TAX CREDIT

If you are reading this for the first time you may be spending too much time at the movies -- Big News for some -- there is a $8,000 credit to some buyer's in 2009.

I say some people because it is for people who have not owned a home with in the last three years. There are a bunch of other rules on it too which is fine we have to have rules. ($75,000 income limit per head, owner occupied 3 years).

A tax credit is more valuable than a tax deduction because A credit reduces dollar for dollar the amount of tax you owe, where as a deduction allows the tax payer to exclude some taxable dollars.

The tax credit is better than last years because it doesn't have to be paid back. It is a true tax credit, but here is the deal.

To buy a home buyers still need to have a job, a good credit rating, and some money for a down payment. If you have all of those things then you will be rewarded by being able to purchase a home and will get the tax credit on top of that" party dance time".

My take on it is that if you are in a position to buy a home and were planning on doing so the tax credit is a good thing. If you cannot afford to buy a home because your income is not high enough, your credit rating is not good enough or you don't have any money then the tax credit isn't going to have any impact on your situation what so ever.

There are some other programs for first time home buyers that may help: Oregon Bond, FHA.

I am offering a first time buyer class on March 25Th from 6-8pm. I offer one every other month and it is free. There will be a lender, escrow agent and myself at the class to answer your questions. 8 people per class -- contact me today to reserve a spot.

PRICE OF YOUR HOME

There are some things that affect the value of a home and some things that do not. Here is a list of some of the things that do have an impact on value:
1. Location - The very same home in one neighborhood will have a different value in another neighborhood. Even which block a home is on has an impact on the value.
2. Condition - The condition a home is in has a huge impact on the value. Buyers will sometimes off thousands less for a few hundred dollars in needed repairs. They don't always understand that cost of repairs so it isn't unusual for them to offer $5000 less when the home needs a repair or udate that costs $1000.
3. Size - When appraisers or Realtors put a value on a home we use the square feet of finished living space. Not all space is equal. Finished square footage in a basement with no egress windows does not have the same value as finished square footage on the main floor.
4. Amenities - the number of bedrooms, baths and garage stalls.
The four I listed are the basics. Here are some things that do not impact the value of a home:
1. How much the last owner paid for it.
2. The value as listed in Zillow or in the tax records. Although I do have a theory about Zillow. As the site got started and gained traffic home values went down nation wide. It is just a consicidence but it would be nice to have just one person or company to blame for declining home values.
3. How much the current owner owes on it.
4. The cost of repairs made to the home. When it comes to big ticked items like roofs, the sad truth is every home needs a roof and buyers expect one. Putting on a new roof if one is needed will help sellers get the most for their home.
5. The value of the home in 2005, or even last year.
It gets a little tricks with improvements. Lets say there is a $100,000 dollar home in a neighborhood where the average price is 100K and the owner puts in a 50K kitchen. In most cases that does not make the home worth $150K. It will increase the value/desirability of the home but there isn't always a direct dollar for dollar relationship.

Sellers can price a home at any level they want to but if it is priced too high often buyers will ignore it. Buyers in our current Oregon market want the perfect home at the perfect price -- and they can ask for it. As of January Portland has 19.2 months of inventory to sell (last month we were at 15 months and the month before at 10 months). This is a lot of homes to sell and anything over six months of inventory directs the market to a "Buyers Market".

Appraisers are being very conservative these days which means that the home may not appraise for the agreeded sales price between thebuyer and seller. When that happens some times the buyer can not borrow enough money to buy the home.

Pricing a home is more of an art than a science. In general we look for three comparable homes that have been sold in the area in the last six months.

The amount of money that a seller can get for a home or the amount that a buyer will pay is also affected by a basic economic principal. Supply and demand. Currently there is a demand in for forclosure and short sale homes - a great price is leading the marekt. Last year at this time we saw buyer purchasing in the mid-$300k price point and had 32.5% more sales closing.

When all is said and done a home is worth exactly how much someone will pay for it. Buyers drive prices, not sellers or their Realtors.

FREE MONEY

Does money grow on trees? Well still the answer is NO - but the government is giving it away this year and next if you are a first time buyer or have not purchased in the last three years and do not own a home.

Here's some great information regarding the $8,000 Federal tax credit.

This website is very informative. The main question I'm fielding is if people need to wait to get the credit until after they have bought a home.

No, clients do NOT need to wait to buy a home. They can file their tax return now and get the $8K tax credit on their 2008 tax returns BEFORE buying a home. They can then use the funds for down payment (there are no restrictions on what the tax credit is used for). Some folks may just hold on the credit for rainy day funds.

http://www.federalhousingtaxcredit.com/:

Question: If I’m qualified for the tax credit and buy a home in 2009, can I apply the tax credit against my 2008 tax return?
Yes. The law allows taxpayers to choose ("elect") to treat qualified home purchases in 2009 as if the purchase occurred on December 31, 2008. This means that the 2008 income limit (MAGI) applies and the election accelerates when the credit can be claimed (tax filing for 2008 returns instead of for 2009 returns). A benefit of this election is that a home buyer in 2009 will know their 2008 MAGI with certainty, thereby helping the buyer know whether the income limit will reduce their credit amount.Taxpayers buying a home who wish to claim it on their 2008 tax return, but who have already submitted their 2008 return to the IRS, may file an amended 2008 return claiming the tax credit. You should consult with a tax professional to determine how to arrange this.

(information provided by Jeff LaViolette [JeffL@equityhome.com] - preferred lender with Equity Home Mortgage).

Oregon Turns 150

OREGON TURNS 150
Happy Birthday Dear Oregon

On February 14th, 2009, the state of Oregon is turning 150, and that calls for a party, don't you agree? Click on the link above and join in celebrating Oregon's past and consider where we're headed.

REALTOR ON MT. HOOD

No this is not me but it is my honey and past client. Enclosed is his recent article on "TRAVEL OREGON" about our dear Mt. Hood.

IRVINGTON PORTLAND OREGON

2406 NE 30TH AVE - $1,248,500

Museum quality restoration on this home.

4 bedroom

2.5 bath

2 fireplace

Chef's Kitchen

Master boast fireplace & private deck

Professional Landscape

New Two Car Garage in 09

This home has so many details it is a must see or call for information.

ALIA MARIE HAZEN

RE/MAX Equity Group Inc.

503.495.5411

HAWTHORNE

2255 SE 37TH - 3 BEDROOM BUNGALOW

OPEN FEBRUARY 22 TH FROM 11-1

Restored bungalow circa 1910 with Chef's kitchen, refinished floors 09, fireplace, box-beam ceilings, big front porch, master balcony and so much more.

Offered at $394,500

Call Alia Marie Hazen

RE/MAX Equity Group

503-287-8989 x 5411

STREET VIEW STAGING

No, you can't stage a listing for street views for Google's street-level snapshot of communities around the country but you can stage if to sell!

It is important to understand that you CAN make photos of your listing look better. Go to your listings at REALTOR.com and see how many seller's have taken the time to make their home photograph well and how many have not. Web sites are a huge factor in whether a buyer or even a Realtor shows your home or not.

Curb appeal in this market really means "web appeal".

So how do you make your home look more photogenic. Start by taking a picture of your home. Then ask yourself what can be done to show off the property better? What can be done to accent the best features of the home and what can be done to draw your eye away from less than desirable features?

For example is the listing dwarfed by your hedges along the walk or in front of the home? If so trim them and keep the lines clean and exact. Edge the lawn and the flower beds and put in new dark mulch -- less is often more for landscaping. Keep the lines clean -- it photographs better.

Look in a home catalog or magazine notice how little stuff, junk, clutter, debris is really outside the home and how clean the lines are. Try and do this same thing with your home.

A FEW TIPS:
Relocate trash bins so they are not visible when someone drives by.
Edge the lawn and flower beds and add new mulch
Plant large bushes under the front window but keep height well below the edge of window
Plant a boxwood-style hedge, about two fee high and 18 inches wide on each side of walkway and running full length of the sidewalk.
Add flower boxes - keep the flowers simple and bright (stick with one color).
Paint your front steps
Paint your front door - give it a punch of color
Add new house numbers
Replace out front light if it is dated.

The front of the home and the entrance is the firs thing a buyer sees -- make it a great first impression. In our current market if your house is not market ready or and does not have "web appeal" you are not seeing offers. There is a lot of inventory on the market -- make your house shine above the rest.

HOW LONG SHOULD IT LAST?

Replacing home mechanics, appliance etc.... can get pricey, knowing an approximate life on these items can help you budget and also make smart choices as a buyer. Buyer's may want to factor in the replacement cost of the item when negotiating the offer. Negotiation repairs is often one of the most important parts of a sale transaction.

This study is from the National Association of Home Builders, but the true longevity of these items depends on maintenance, use and quality of product.

100 YEARS OR MORE

brick siding -life of home

all wood flooring -life of home

cellulose insulation materials - 100 plus

50-100 YEARS

slate, copper, clay and concrete roofs

copper gutters

kitchen cabinets

modified acrylic kitchen sink

vinyl floors

30-50 YEARS

thermostats - 35 years
wooden windows - 30 years
wood shake roof - 30 years
french doors 30-50 years

10-20 YEARS

built-in audio system - 20 years

aluminum windows - 15-20 years

asphalt shingle roofs -20 years

faucet kitchen sink - 15 years

gas range - 15 years

marble counter tops - 20 years

dryers & refrigerators - 13 years

air condition units - 10-15 years

light controls - 10 years

interior and exterior paint - 15 years

water heater - 10 years

furnace - 15-20 years

5-10 YEARS

security system - 5-10 years

heat & smoke detector -5-10 years

dishwasher - 9 years

microwave - 9 years

carpet -8-10 years

FORECLOSURE & FIDO

Foreclosure & Pets: I know this is a horrible topic but it is one that is becoming a sad reality and our puppy Birbal and two cats Babatu and Princess Yum Yum wanted to do what they could to help. They asked me to donate and write this blog.

As we see more foreclosures in our current market we are also seeing more animals left behind (at the home or in the home).

FORECLOSURE & PETS Pets did not fail to make the payments, however, they too are suffering as they are abandoned. At any time in the history of the world has one ever heard of abandoned foreclosure pets? Think not. Today, there is a crisis within a crisis.

THE HUMANE SOCIETY as well as other abandoned animal shelters are historically full with rescue pets needing adoption. The adopt a dog or cat inventory has now reached all time highs with the additional pets due to HUD foreclosures and REO lenders drop offs.

FREE HOME SEARCH - See the newest homes on the market or just watch your neighborhood!

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ALIA MARIE HAZEN
RE/MAX Equity Group, Inc

MT. TABOR "THE VIEW" CONDO - Seller Pays ALL close cost & Banner Bank 100% Finance!

"view condominiums" 255 NE 61ST AVE
Courtyard Condo's with amazing care in the details of this restored mid-century complex.

Many main level units - no stairs and still the great courtyard view.

• blocks from MAX & Trimet
• building has bike storage and great biking areas
• close to Hawthorne, Division, Woodstock
• quiet courtyard setting each building has two levels
• deeded parking for each condo
• secured storage for each condo
• laundry in unit - washer and dryer included
• ALL appliances included in sale
• ALL clost cost paid by the seller ( up to $6,000.00 savings).
• 100% finance for a limited time with Bannner Bank - qualified buyers

Come see me this Sunday from 12-3 - I bring the donuts you come see the condos. 4% BAC .

STUDIO A - LISTED FOR $109,900

UPPER UNIT 12 - VIEW OF BBQ COURTYARD LISTED FOR $154,900

MODEL UNIT 34 - 2 BEDROOM WITH COURTYARD VIEW $204,900

UNIT 23 - LOWER UNIT ON 60TH (PRICED 30K LOWER THAN UPPER 2 BDRM) ** instant equity in these -- can be finished in 30 days. Do not let the dust scare you -- they all looked like that before being finished.

LISTED WITH: ALIA MARIE HAZEN PC

RE/MAX equity group inc.

503.287.8989 ext 5411

top 10% producer and green certified

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