There are a lot of good deals, government incentives, and low interest rates out there. So what are the top five things you need to know when buying a home?

1. There are a ton of homes available, how do you narrow the search?
- Make your top 5 list: price?, location?, size?, number of beds/baths?, schools?

2. Can you still get a loan?
- Yes, there are still loans but credit is important, with FHA you only need 3.5% down – Get preapproved by your bank or mortgage broker. Lending is one of the most volatile parts of the process so make sure you have a current pre-approval even if you got one a few months ago.

3. What is the best way to look for homes?
- Set up an online search, interview realtors [You can skip this part by just calling me 503.901.8100], look at your favorites in person with your realtor.

4. What kind of offer should you make?
- Make a fair offer, under $300,000 is very competitive right now and many homes have multiple offers, $300,000-$500,000 is less competitive, over $500,000 usually has more room to negotiate. Keep in mind that most homes sell for 95-97% of list price.

5. What do you do once the offer is accepted?
a. Have your inspections: home, sewer, oil tank search/samples, radon.
b. Negotiate any repairs or credits
c. Appraisal
d. Sign, Close and move in!

For my detailed buyers guide just click here or call me

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Here are my top links to learn about REOs. If you are interested in looking at these types of property I can set up a search that will make sure you know about these homes first!

REO Info Websites

Interview on KOIN 6

Things to know before buying an REO

Check out some REO homes available right now

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Click on chart for full size version.

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Here are my top 5 tips to sell your house in 2009.

1. Condition: Your home has to look good from the street and make sure the entry to your home is spotless. Even with a limited budget you can clean up and de-clutter your home.
2. Price: depending on where you live the market is flat or down. You need to price in front of your competition.
3. Marketing: Listings with video and photo tours get 40% more views. All my listings have HD video tours. Make sure the home is featured on listing syndicators and on blogs and in the RMLS. Open houses and Brokers opens are a great way to get people in the door and get good feedback.
4. Availabilty: Vacant is the easiest to show, Call 1st makes sense if you still live in the home, Appointment Only will mean less showings so only do this if you have to.
5. Willingness to Negotiate: First time buyers are going to need help with closing costs and will want all the appliances. Don’t kill a deal over a washer and dryer.

Getting real: If you want to sell for a price that isn’t realistic in this market then you need to rent out your home or stay put for a while but make sure you’re getting the opinion of a realtor before you make that choice.

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