Rates are fantastic, prices have stabalized and many folks are planning on staying in their current home longer. So the question is should I refinance or not?

Reasons to Refi:
1. Lower rate
2. Change from ARM to fixed rate
3. Cash out
4. Divorce or dissolution of a business partnership

Reasons to not Refi:
1. Moving soon
2. Cost outweighs savings

To find out how long it will take to recapture the cost of a refinance just take the total cost and divide it by the monthly savings = number of months to break even. After you break even your net savings begin every month after that.

Popularity: 3% [?]

726 homes were sold in Portland in November, down from 850 in October. I had predicted 700 and the normal sales slow down in Fall and Winter but October and November show the positive influence of the first time homebuyer tax credit in a BIG way.

Wild cards: Tax credit has been extended to mid 2010 and new move up buyer tax credit added, will FHA increase minimum down payment to 5% in 2010? Foreclosures are still going up nationally and in Oregon.

I’m predicting around 500 closed sales in Portland (areas 141, 142, 143 & 148) in December. Investors will begin to emerge as a major part of the market this Fall and Winter.

Sales volume is a leading indicator for price. To help predict where the market is going I publish this sales volume trend report. The wisdom is that price follows volume so when you see a market trending higher in sales, prices will soon follow up and when sales volume is low, prices will stay flat or fall.

PORTLAND sales volume 121509

Popularity: 2% [?]

I recently helped a client buy this bank owned duplex in North Portland. If you’ve been thinking about buying or you need to sell your home give me a call at 503.901.8100. I’m here to help you with any of your real estate needs and I always appreciate your referrals.

Popularity: 4% [?]

The quarterly PSU report is the best source for local market information. Check out the latest one here.

Popularity: 2% [?]

I recently helped a client sell this home in SE Portland. With great deals available and the recent tax credit extension the market is still going strong. If you’ve been thinking about buying or selling (or know someone else who is) give me a call at 503.748.8206. I’m here to help you with any of your real estate needs and I always appreciate your referrals.

Popularity: 3% [?]