Sherwood Oregon Real Estate Update

September 2009

Sherwood has been and continues to be a desirable place to live. 

In 2007 Money Magazine voted Sherwood as the18th Best Place to Live. " Like much of the Northwest, Sherwood is home to an array of beautiful parks and natural beauty. But the quickly growing commercial sites of Sherwood offer true insight into the town's character: a juxtaposition of old and new, with reverence toward both the city's historic past and its bright, expanding future. The community events calendar is always full and the town's location makes for a fairly easy commute to nearby Portland. A.B."

In August of 2009 Family Circle declared Sherwood as one of the Top 10 Best Cities for Families. The Sherwood Gazette wrote "The magazine stated that each of the towns honored contained forward-thinking leaders, parents, teachers and students who are passionate about their hometown, dedicated to bettering their children's futures and involved in advancing their local school systems as exemplified by the implementation of such programs as partnering with local government in providing recreational amenities, private medical groups to ensure treatment for students who don't have health insurance and integrating dual language classes in grade school."


Sherwood has seen some of the fastest growth in the state of Oregon, and most of it has been residential homes. People moved to Sherwood to live, not necessarily to work. With the economy tanking, many homes went into foreclosure and people moved out. This left us with a lot of stagnant properties that until recently, weren't moving.

But there seems to be some positive news according to Zillow. Below is a chart of their estimated home values from June of 2008 through May 2009. From what I have seen, we can expect even better numbers for June and July.

It's interesting to note that the Sherwood, excluding the more expensive homes, saw an across the board decreaase in value this month. I don't place a lot of stock in it as our market is small enough that 1 or 2 sales can skew the numbers. Plus, what I am seeing is that the under $250,000 market is still hot. Look for an increase in next months values as sales close.

But the good news is that each of these segments has less deterioation Quarter Over Quarter. While we aren't positive this month, it still beats double digit depreciation!.

It appears that the worst is over in Sherwood!!

Buyers, you better get busy!! 100% financing is still available through the USDA Guaranteed Rural Home Loan program, as well as 3.5% down with the FHA. For more information on both of these programs cllick on the above links, or follow this link to an article on First Time Home Buyer Financing in Sherwood.

The $8000 Tax Credit is disappearing in a few months, so there is no better time than now to buy a home!! We are having an Oregon First Time Home Buyer Seminar soon, so ya better call!!

Whether you are a First Time Home Buyer, or moving up to your next home, call me to get started, or click here to fill out a short form and I'll call you right back..

I work with some of the BEST Realtors in Sherwood!!

Sherwood Oregon Home Value Update

August 2009

Sherwood has been and continues to be a desirable place to live. It has seen some of the fastest growth in the state of Oregon, and most of it has been residential homes. People moved to Sherwood to live, not necessarily to work. With the economy tanking, many homes went into foreclosure and people moved out. This left us with a lot of stagnant properties that until recently, weren't moving.

But there seems to be some positive news according to Zillow.com. Below is a chart of their estimated Sherwood Oregon home values from June of 2008 through May 2009. From what I have seen, we can expect even better numbers for June and July.

It's interesting to note that the hottest markets in Sherwood are the condo and the 4+ bedroom market. The condo market doesn't surprise me, but the 4+ does. I guess this just shows that those with money are able to take advantage of market opportunities. The market that is still seeing the slowest growth is the 3 bedroom home. These are often just out of price of First Time Home Buyers. This segment also seemed to have been hit especially hard by foreclosures and short sales..

But the good news is that each of these segments has seen positive month over month growth.

A question though is if a recent rise in Foreclosures filed will affect these values.

Buyers, you better get busy!! 100% financing is still available through the USDA Guaranteed Rural Home Loan program, as well as 3.5% down with the FHA. For more information on both of these programs click on the above links.

The $8000 Tax Credit is disappearing in a few months, so there is no better time than now to buy a home!!

Whether you are a First Time Home Buyer, or moving up to your next home, call me to get started, or click here to fill out a short form and I'll call you right back..

I work with some of the best Sherwood Realtors.

Sherwood Oregon 1st Time Home Buyer Financing

Sherwood is a wonderful place to live. We are in close proximity to Portland, the mountains, the coast , wine country, among others. Sherwood has a small town feel, yet we are truly a suburb of Portland. We have highly rated schools and beautiful parks.

Sherwood is also very attractive for 1st Time Home Buyers.

While we are part of the Greater Portland area, we are still small enough to qualify for financing under the USDA Guaranteed Rural Home Loan program. This great program provides for 100% financing based on the appraised price, not the purchase price. This means that if a property appraises for more then the purchase price, the difference can be used to help offset closing costs. Sellers can also contribute up to 6% of the sales price to help cover closing costs. This allows many 1st Time home buyers to get into a home with little or no money down.

There are income qualifiers though.

• Your mortgage payment (Principle, Interest, Taxes and Insurance) generally needs to be 29% or lower, and your total debt to income should be below 45%.
• You also can't make too much money. This amount varies by county and the number of people in your household. It also includes income from all  members of your household whether or not they will be on the mortgage or Title. It's best to call and talk with me to see if you make too much money.

The FHA also has several programs that are perfect for Sherwood Oregon 1st Time Home Buyers.

FHA programs are generally more flexible for home buyers with higher debt to income ratios and income. It does require 3.5% down payment, but this can be gifted from a family member. Non-occupant co-borrowers can also co-sign for the loan. This can be used for income qualification purposes.

The FHA has a wonderful program to help that project house become a home that you would want to live in. The FHA 203k loan allows you to purchase a home and finance the costs of the repairs. You close at escrow, the seller gets their money and then the remodel work starts. You generally have up to 6 months to complete the work. 

There are 2 programs within the 203K loan program.

• Streamline - up to $35,000 of repairs, generally cosmetic or fairly straightforward work. This loan is perfect for the foreclosed home that was stripped or trashed.
• Regular - This is a full blown construction loan and can be used for major remodels as well as the cosmetic items.

These 3 loan programs help make Sherwood an ideal place for a 1st time home buyer to purchase a home.

I work with Sherwood's Best Realtors.

Click here to search for Sherwood homes.

Let me help you get pre-approved for your new home.

 USDA Modifies Income Limits for Their USDA Guaranteed Rural Home Loan

I received an announcement today from the USDA indicating that the changes that we have been hearing about regarding the income qualification levels for the USDA Guaranteed Rural Home Loan are in deed fact. As of 4/20/2009, the USDA will change the income tiers. This will open up an already great program to even more Oregon and Washington borrowers, as well as the rest of the nation.

As an example, currently a single person would qualify based on significantly less income than a family of 4. Now, the two borrowers would qualify at the same income tier.

Here's the bulk of the email update:

Income Limit Modification
 
As a result of a direct final rule published in the Federal Register, income limits will change effective April 20, 2009.  The existing income limit structure will be revised for the Single Family Housing Guaranteed Loan Program (SFHGLP).  Instead of eligible adjusted income limits based on households ranging from 1-8 persons, a two tier income structuring consisting of a 1 - 4 member household and a 5 - 8 member household will replace the 1 - 8 person structure. The present add on limits for larger households will remain the same.
 
Look for the new limits to be posted to our eligibility website April 20, 2009 at http://eligibility.sc.egov.usda.gov/eligibility/.

The USDA Guaranteed Rural Home Loan is only available for purchases of homes in Rural areas, and many small towns located near larger cities.

As an example, in Oregon, Sherwood, Newberg, and Canby qualify, but Grants Pass, Medford and McMinnville do not.

Call or email me if you have questions regarding this great program, or just visit my website to learn more about this home or to view a few USDA qualified homes.

Larry Morris
www.PDX-Mortgage.com

 Sherwood OR Homes Qualify for 100% Financing Under USDA Program

It is becoming harder and harder for a home-buyer to purchase a home, yet there are still many affordable homes if you have a down payment or the advantage of a program that helps you qualify for more home.

Through a litle used federal government loan program, the USDA Guaranteed Rural Home Loan, we are able to offer financing up to 102% of the appraised price on the purchase of a new home in Sherwood, OR. This allows for the purchase price, seller contributed closing costs and the cost of the one time mortgage insurance.
 

Eligible Persons

• Have an adequate, documentable and dependable income.
• Must be a U.S. citizen or be legally admitted to the United States for permanent residence.
• An adjusted annual household income that does not exceed the published limits for Washington county . Call me for information on the income limits. Income includes the total gross income of the applicant, co-applicant, and any other adult in the household. It excludes certain expenses and adjustments. The larger the family, the more income is acceptable
• A credit history that indicates a reasonable willingness to meet obligations as they become due.
• Demonstrate repayment ability.
   

How to Apply

Click on the following link. Oregon Rural Loans

Homes that Qualify

• Guaranteed loans can be made on either new or existing homes.
• Plumbing, heating, water, waste disposal, and electricity must be certified as adequate and the dwelling must be free from termites and dry rot.
• No restrictions exist on the size or design of the dwelling financed, but must be considered modest.
• Must be a residence, not a farm.
• Dwellings with in-ground swimming pools, are prohibited.
• Homes must be located in rural areas. Rural areas include open country and places with a population of 10,000 or less and, under certain conditions, towns and cities with less than 20,000 population. Call me for a list of additional eligible areas..

Larry Morris is a Certified Mortgage Planning Specialist with American Nationwide Mortgage. in Newberg, Oregon. He can be reached at larry@PDX-Mortgage.net. His website is www.PDX-Mortgage.com. This material is copy protected 2008 by Larry Morris, Mortgage News that Matters. All Rights Reserved His opinions do not necessarily represent the views of Morgan Financial, Inc.

Licensed in: OR, WA.

102% Financing for Sherwood, Oregon.

Guaranteed!!

It is becoming harder and harder for a home-buyer to purchase a home, yet there are still many affordable homes if you have a down payment or the advantage of a program that helps you qualify for more home.

Through a litle used federal government loan program, we are able to offer financing up to 102% of the appraised price on the purchase of a new home. This allows for the purchase price, seller contributed closing costs and the cost of the one time mortgage insurance.
 

Eligible Persons

• Have an adequate and dependable income.
• Must be a U.S. citizen or be legally admitted to the United States for permanent residence.
• An adjusted annual household income that does not exceed the published limits for Washington county . Call me for information on the income limits. Income includes the total gross income of the applicant, co-applicant, and any other adult in the household. It excludes certain expenses and adjustments. The larger the family, the more income is acceptable
• A credit history that indicates a reasonable willingness to meet obligations as they become due.
• Demonstrate repayment ability.
   

How to Apply

Click on the following link. Oregon Rural Loans

Homes that Qualify

• Guaranteed loans can be made on either new or existing homes.
• Plumbing, heating, water, waste disposal, and electricity must be certified as adequate and the dwelling must be free from termites and dry rot.
• No restrictions exist on the size or design of the dwelling financed, but must be considered modest.
• Must be a residence, not a farm.
• Dwellings with in-ground swimming pools, are prohibited.
• Homes must be located in rural areas. Rural areas include open country and places with a population of 10,000 or less and, under certain conditions, towns and cities with less than 20,000 population. Call me for a list of additional eligible areas..

Larry Morris is a loan Officer with American Nationwide Mortgage in Newberg, Oregon. He specializes in relocations and Sherwood, Oregon neighborhoods and Yamhill County. He can be reached at larry@PDX-Mortgage.com. His website is www.PDX-Mortgage.com. This material is copy protected 2007 by Larry Morris, Mortgage News that Matters. All Rights Reserved His opinions do not necessarily represent the views of Equipoint Financial Network.

Licensed in: OR, WA.

Liv Warfield will be bringing her own brand of soul and R&B to Sherwood's Stella Olsen Park on Wednesday, July 11th from 6:30 to 8:30.

Liv currently lives in OR, but hails from IL and is a promising young singer. Check out her website for a little more info on her and to sample her tunes.

Here's a glimpse:

"Liv Warfield is one of the rare modern soul singers who can show respect for the founding mothers and fathers of R&B without sacrificing the very modern style of her own voice. She is at her best in performance, simultaneously dictating the pace and tone of her backing band and guiding her audience along with all that soul. To the sick and weary, I would recommend a Liv Warfield show over chicken soup."
-Casey Jarman, Willamette Week

Sample her music

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Music on teh Green takes place every Wednesday from July 11th, through August 22nd.

For directions to Stella Olsen Park

Larry Morris is a loan Officer with Equipoint Financial Network in Newberg, Oregon. He specializes in relocations and Sherwood, Oregon neighborhoods and Yamhill County. 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 2007 by Larry Morris, Mortgage News that Matters. All Rights Reserved His opinions do not necessarily represent the views of Equipoint Financial Network.

Licensed in: OR, WA, AL, AK, AZ, CA, CO, CT, FL, GA, HI, ID, IL, IN, IA, MD, MA, MI, MS, MO, MT, NE, NV, NH, NM, OK, SC, SD, TN, TX, UT, VT, VA,

The Sherwood Saturday Marketis open every Saturday from May 5th through September 29th, 2007. Their operating hours are 9am-1pm. Located at the City of Sherwood-City Hall along Pedestrian Walkway, 22560 SW Pine Street, Sherwood, Or. 97140 ***Note: On June 9th, the market will be closed due to the popular "Cruis'in Sherwood" car show.***

While not the biggest Saturday Market in the area, it is a lot of fun and is a nice get-away for the day.

Market Vendor Site Links ( Just a few of the many vendors)

• Gramma's Store
• Jeweled Elegance by Heather Pierce
• John Twist
• Mountainside Herbal Nursery
• Northwest Imagery by David Gilmore Photography
• Pure Pizazz
• Sesame Donuts
• The Blue Lightning Band
• The Sound Waves Band

The Sherwood Chamber of Commerce represents and promotes Sherwood business and the surrounding community. The variety and scope of Chamber activities are unlimited. There is no better way of getting your name out there in our growing community.

This weeks schedule:

Monday May 14th - Sherwood Family Eye Health- Ribbon Cutting - 4:30 PM

Tuesday May 15th - Hunter's Ridge - Mixer - 6PM

Wednesday May 16th Board Meeting - 7:30 PM

Up coming events:

Tuesday May 22 - Comfort Inn Mixer - 7:30 AM

Friday June 9th & Saturday June 10th - Crusin' Sherwood

Tuesday June 26th Annual Dinner - more details to follow

Join us at the Chamber!!

For membership info, contact Larry Morris @ larryhmorris@gmail.com or 503-421-0096

Larry Morris is a loan Officer with Equipoint Financial Network in Newberg, Oregon. He specializes in relocations and Sherwood, Oregon neighborhoods. He can be reached at larry.morris@equipoint.com . His website is www.PDX-Mortgage.com .

Licensed in: OR, WA, AL, AK, AZ, CA, CO, CT, FL, GA, HI, ID, IL, IN, IA, MD, MA, MI, MS, MO, MT, NE, NV, NH, NM, OK, SC, SD, TN, TX, UT, VT, VA,

The Sherwood Chorale with Michael Allen Harrison in "Stand By The Music" is being presented May 18th and 19th at 7:30 PM at the Sherwood High School Performing Arts Center

Also performing:

The Sherwood Children's Chorus and The Sherwood High School Concert Choir.

"The Voices for the Performing Artsfoundation (VPA) has blossomed from the seeds sown by the Sherwood Chorale, now in it's fourth year.  The non-profit organization was formed in January of 2005 as a vehicle to take the fund raising mission of the Chorale to greater heights.  Concerts by the Sherwood Chorale in 2004 and 2005 raised funds for the Sherwood High School Choral Department for music, curriculum, and accessories for the new grand piano.  In 2006 the funds were used to provide two student scholarships and teacher grants."

Join us for this benefit concert and support a good cause.