Oregon Mortgage News: Oregon: Portland

Golf has a few new products that we are offering.  We have come out with a 7/1 ARM for our Premier Tier.  Our Premier Tier is a basic jumbo product intended for high quality loan purchases.  We are also offering a 5/1 and 7/1 ARM product for refinances. 

So contact me for more details about these products and how they can help you make your dreams of homeownership come true.

Have a great week!!

** Subject to Credit Approval** Golf Savings Bank Member FDIC  

In a study by Nalgene, Portland OR is rated as America's 3rd least wasteful city. In a study of America's 25 largest cities, we did pretty well. We finished below San Francisco and New York, and one above Seattle. Last on the list is Atlanta.

This isn't much of a surprise to us as we are generally ahead of the curb in many ways. What is surprising is that New York beats us and that we don't use more rain barrels. Might be we wouldn't know what to do with THAT much water...

Way to go Portland!!! 

FitPregnancy Magazine has listed Portland, OR as the top city in the nation for having a baby. Just another reason to live or move here. Portland, and the surrounding cities are considered some of the best places to live for many reasons, and according to a number of different sources.

In this study, Portland ranked high on low maternal and infant mortality, health of baby, breastfeeding, use of midwives, doulas and lactation consultants. The availability of high-risk pediatricians was also stated as well as the number of parks and state laws allowing breast feeding in public.

So, if you live here, CONGRATULATIONS!! If not, pack up and move here. Home values are relatively stable and I've got a loan program with your name on it.

Larry Morris is a Certified Mortgage Planning Specialist (CMPS) with Equipoint Financial Network in Newberg, Oregon. He specializes in relocations, helping clients maximize their equity position through proper debt structure, as well as financing for Senior Citizens. He is a Board Member of the Sherwood Chamber of Commerce. He can be reached at larry.morris@equipoint.com . His website is www.PDX-Mortgage.com .

This material is copy protected 2008by Larry Morris, Mortgage News that Matters. All Rights Reserved His opinions do not necessarily represent the views of Equipoint Financial Network.

Standard and Poor's has reported that Portland Oregon has the 2nd highest increase in home value as reported  in the Portland Business Journal. While an increase of 8.7% isn't exactly setting records, it is much better then most of the rest of the nation. Nationally, according to the report, our 20 largest markets have seen a decrease of .2%.

Interestingly enough, our RMLS system shows Feb 06 to Feb 07 numbers at 12.8% appreciation. I asked fellow blogger Ron Ares to help me with this as he has a breakdown that shows numbers during this time period at 6.5% and median price appreciation at 5.9%. According to Ron the RMLS uses a 12 month rolling average. He disputes the validity of those numbers as he feels that a median number is more accurate. Here's a link to his blog with a breakdown of area numbers.

Bottom Line: If you're looking at real estate as a long term investment and as a place to live, Portland is still a great place to buy. But, if you're expecting 10%-20% appreciation with a quick flip, you might be in for a surprise when you sell.