Market Strains Relocation Efforts

The real estate market has become a buyers market and for those who don't get to choose when they move, it makes for really bad timing. It's not just bad timing for the employee but also for the employer who is asking for the move. Not only is it causing delays in getting that employee where they need them but it is also costing them money. No one is going to want to sell their house at a loss by choosing to do it in this market, so either the company is going to pay the employee the difference or the raise will have to make it worth their while.

Although now some companies are putting restrictions on the home sales like preventing the worker from selling their place for more than a set percentage above appraised value. Other restrictions include requiring an approved real estate agent or not proceeding with the buyout until the home has been on the market 120 days. Some are even offering the buyers and brokers cash incentives because that could be cheaper than buying out the homeowner.

The down side of all this could be the huge reluctance of employees to relocate to where they are needed.

http://www.realtor.org/RMODaily.nsf/pages/News2007061802?OpenDocument

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True Cost of Homeownership

Homeownership is more than just a mortgage payment. In fact, it is more than just closing costs and down payments. Those preparing to buy their first home might want to take some possible extras into consideration when planning out their budget.

• Annual insurance premium. Hopefully you had renters insurance before, but a house can be very different and more than likely the size of your house will be more than your apartment. Definitely shop around, it can save you a lot of money!

• Property taxes. Property taxes are based on the value of your home, this is a major one in Oregon. There are tax breaks involved for homeowners but property taxes are still another bill you are not in the habit of paying.

• Utilities. It's possible that you are going from an apartment to a house or condo of the same size, for instance my friends just bought the apartment they were already living in. But chances are you are upgrading in size and you want to take that into account when figuring out what your new utility cost will be. Perhaps even the heating and cooling sources are different, or maybe you didn't have them at all before.

• Appliances. A lot of times appliances are included, but you might want to inquire during your home purchase, sometimes you show up to your new place to find out you have to spend $800.00 on a washer and dryer, maybe even a refrigerator.

• Furniture. Going on that same assumption that you are going up in size, you are going to need furniture. While we are now living in the age of Ikea it is still an expense most people do not budget ahead of time. Even if your place is the same size you might feel the need for furniture that "matches" your new place.

• Repair and maintenance.Before any repairs that needed to be done were a matter of calling the landlord. Not only do you have to take care of these things yourself but you have to pay for them yourself too. If you also happen to not be one of these do-it-yourselfers the costs start skyrocketing because you have to pay someone to do it. Things you never think of like the driveway need maintenance too. You will go into shock when you have to pay for your first repair. It can be hundreds just to have someone clean the gutters. All these projects you are going to save on by using your own elbow grease are going to require tools as well, and those can add up fast.

• Yard care. You might be smart enough to buy a condo but if not you will be paying a lot in time and money for your yard. If you are used to living in an apartment with no yard, this can be the biggest expense shocker. At the minimum you will be investing in a lawnmower. Depending how you want it to look or what you'll be using it for you could also be looking at trimmers, chainsaws, blowers, pressure washers and lawn funiture. Or you could look into landscapers but what you are gaining in free time you are definitely paying in paper money.

• Pest control. Another expense people don't discuss very often is pest control. Often they don't think to have it checked out or just don't want to pay for it but it's one of those situations where a little money spent up front can save you tons later on.

• Remodeling. A lot of times people watch HGTV and see how "easy" it is to take a place with good potential and make it exactly what you want. Sure it's easy if you have help and bottomless pockets. Simply changing paint colors can get costly, even if you do it yourself, but how good do you want it to look? Settled for carpet when you really wanted hardwood? Don't assume you can change anything you want once the house is yours, look into the costs ahead of time. Putting hardwood into one room is in the thousands.

After you've bought your home it would be really wise to budget unexpected, or even expected costs. Set aside an amount each month that will go toward that remodel or the water main burst that you didn't see coming. You'll be so glad you did.

http://realestate.msn.com/buying/Article_kip.aspx?cp-documentid=4980274>1=10130

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New Bull Mountain Parks!

$670,000 has been authorized to buy the Clute property on Bull Mountain from the water capital improvement project. The Water Board was using it to provide access to the reservoir but found themselves with a 1.36 acre excess.

Preparing the site will cost about $30,000 which will leave the land to be appraised at $700,000. The proceeds from the sale are to be put in the water capital improvement project fund.

Also, two lots in the Ash Creek Estates subdivision will be purchased for $345,000, which will be used for a pocket or neighborhood park. There was concern about the steepness of the lots but it has been determined that it is still doable.

Oregonians love any project that will help keep Oregon green so setting aside these local parks now will benefit Tigard in the future as the population grows and infill ensues.

http://www.tigardtimes.com/news/story.php?story_id=118184350706918200

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Tigard Bridge Dedication

For a few weeks now bicyclists, walkers and joggers have been using the Ki-a-kuts bridge, which links Tigard’s Cook Park, Tualatin Community Park and Durham City Park, but it won't actually be dedicated till this weekend, Saturday at 11 a.m. Following the ceremony, everyone is invited to enjoy a free ice cream social at noon at Tualatin Community Park’s newest playground. Tualatin Mayor Lou Ogden, Tigard Mayor Craig Dirksen, Durham Mayor Gery Schirado, Washington County Commissioner Roy Rogers and project managers will be on hand along with William “Wink” Soderberg of the Grand Ronde Tribal Council.

The original inhabitants of the Tualatin Valley were the Atfalati band of the Kalapuya Tribe. In the 1850s Ki-a-kuts was the head of this band which is where the name comes from.

The bridge has been several years in the making and cost $2.9 million, with state funding contributing $11.3 million, Tigard $593,000, Tualatin $412,000 and Durham $26,000. Clean Water Services contributed $853,000 because it installed force mains across the bridge during the construction, so with that addition, the bridge cost nearly $3.8 million. Also, Tigard constructed a pathway from Cook Park to the bridge that cost nearly $120,000 and was paid for by a state grant.

The idea is that the bridge is going to be a major thoroughfare for people in the local communities in a few years. It connects three major public, outdoor areas totaling 200 acres.

http://www.tigardtimes.com/news/story.php?story_id=118239073881313900

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Lake Oswego Events

44th Annual FESTIVAL OF THE ARTS - Lakewood Center for the Arts and George Rogers Park (both on State St). Included will be a judged craft fair, music, food and beer/wine garden. The theme this year is "Pixel: Artists Who Use the Computer", so there will be a 1,100 piece exhibit with entries from students in the Lake Oswego School District. 10am-9pm June 22-23 and 10am-6pm June 24. Admission free. www.lakewood-center.org/Festival2007.htm

THURSDAY NIGHT MOVIES - Millennium Plaza Park. Movies like "Happy Feet" and "Indiana Jones and the Temple of Doom" will be shown at dusk on Thursday nights. Concession will be available and feel free to bring blankets, pillows and sand chairs. July 19-Aug 30. www.ci.oswego.or.us/parksrec

OUTDOOR CONCERTS - Free concerts!

• Summer Splash Concerts: Noon Fridays, July 6 through Aug. 31, Millennium Plaza Park, 300 First St.
• Moonlight & Music Concerts: 6pm Sundays, July 8 through Aug. 26, Millennium Plaza Park
• Jazz West Concerts: 6pm Tuesdays, Aug.7 through Aug. 28, West Waluga Park, 15775 Waluga Drive.
• Sounds of Summer Concerts: 6:30 Wednesdays, July 11 through Aug. 1, Foothills Park, 199 Foothills Drive; Aug. 8 through Aug. 29, Westlake Park, Melrose Street and Bunick Drive. www.ci.oswego.or.us/parksrec

FARMERS MARKET - Millennium Plaza Park. Saturdays 8:30am-1:30pm from May 19 to Oct. 13. The market features 80 vendors and music. www.ci.oswego.or.us/farmersmarket 503 697 6590

OSWEGO WINE & FOOD FESTIVAL - Millennium Plaza Park. 2-8pm July 29.

CLASSIC CAR SHOW - George Rogers Park. 10am-4pm Aug. 26.

http://search.oregonlive.com/sp?aff=103&keywords=lake+oswego+events

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RMLS going Green

In February Oregon became one of the few areas in the nation to offer green home feature options on its real estate forms. The main change is the Green Certification Field letting buyers know that the listing has received ENERGY STAR, Earth Advantage or LEED for Homes certification. This Green Certification Field is only available for homes listed as New, Proposed or Under Construction.

They have also added options to fields that were already there, things like ENERGY STAR appliances under Kitchen Features. Other options include

• Bamboo or cork flooring
• High-efficiency 90 AFUE furnaces
• Source of electrical power, including specific utility service and solar features
• Additional home modifications, including sustainable materials, water filters, rain collectors and solar tubes

So you are probably now wondering what these certifications mean. ENERGY STAR Homes Northwest is a program administered by the Northwest Energy Efficiency Alliance, electric utilities, public benefits administrators, state governments, public interest groups and energy efficiency industry representatives. They are out to offer products and services that are affordable and energy efficient. www.northwestenergystar.com

Earth Advantage homes are designed for overall sustainability and use at least 15 percent less energy than houses using standard building codes. www.earthadvantage.org

LEED stands for Leadership in Energy and Environmental Design. It is a voluntary national standard that is consensus-based for developing sustainable buildings that are high in performance which are sponsored by the U.S. Green Building Council. www.usgbc.org

Certifications for realtors:

• The Association of Energy and Environmental Real Estate Professionals www.ecoBroker.com
• The Green Real Estate Education Company www.GreenRealEstateEducation.com
• The U.S. Green Building Council www.usgbc.com
• EA S.T.A.R. (Sustainability Training for Accredited Realtors) www.earthadvantage.org

See Realtor, Portland Metropolitan Association of Realtors newspaper. Vol. 12, No. 5, June 18, 2007 page 14

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Baby Boomers get Condos

The Boomers kids are leaving home and retirement is being redefined. Sitting at home and tending to your garden is just not enough. People still want to live active, adventurous lives and don't have time for big, high maintenance houses anymore. Lake Oswego is answering the call with townhomes and condominiums that just built or being built just off the heart of downtown. These homes are being marketed to aging baby boomers who are still in good health but want to downsize into something big enough for the grandkids to visit but small enough to require minimal upkeep.

City officials are hoping to make downtown Lake Oswego an urban, compact shopping district turning the area into a self-sufficient city. In 2003 the high-end shopping district of Lake View Village opened in downtown Lake Oswego and the idea is to inspire redevelopment on the nearby avenues of B, C and D. A few condos and townhomes are actually now in the works and with Lake O's 60-foot height restrictions, it's unlikely that current residents' views of the Willamette River will ever be blocked.

http://www.oregonlive.com/oregonian/stories/index.ssf?/base/news/117762271483170.xml&coll=7

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