If you are looking for a 3 or 4 Bedroom Home with a minimal of 2 Baths, 2 Car Garage, under 10years of age and priced under $200,000…come take a look at St Helens!

Have you been to St Helens? No, I mean reallyseen St Helens as-in, got off  Hwy 30 and spent some time in the community.  St Helens is located 30 miles from Portland and just 24 miles south of Longview, WA. I have been amazed at how easy the drive has been, not much traffic (and I drive out there at all times) its a relaxing drive, takes about forty minutes from my office. St Helens has a great Parks and Recreation Dept, offering so much in terms of activities and events, especially in the summer. Click here for comming events

Come take a drive out to St Helens, explore the possibilities…you might be suprised! 

The ready availability of home mortgages, rock-bottom interest rates, and lower housing prices make today a great time to invest in Real Estate. It is more affordable to buy a home today than at any other time in the last 40 years. The market holds opportunity for all but especially first time home buyers and investors. In 2010, the mortgage payment required to purchase the median priced home in the U.S. fell below 20% of the median household income for the first time since 1971.* In addition to the affordability of housing, according to real-estate-data firm Trulia’s Rent vs. Buy Index, buying a property – including mortgage principal, interest, taxes and insurance – was actually cheaper than renting in 72% of cities around the country. The firm compared a year’s rent for a two-bedroom apartment or townhouse with the cost of buying a similar property in 50 big cities around the country.

In October of 2010,** interest rates hit a historic low of 4.19%. Freddie Mac began tracking rates in 1971, based on the graph below, amazingly, the average mortgage rate at the end of last year was less than half the past 30 year average of 9%. Today’s low interest rates, availability of money to be lent, plus low down payment programs, first-time home borrowers and FHA financing, make it possible for more people to qualify to purchase a home or refinance a mortgage. Lenders today, more than ever, are also helping “would be” buyer’s develop a plan and budget to qualify and save to purchase a home in the near future. It is never too early to find out how you might qualify, or what it will take to be prepared to buy a home or investment property. 

Buyers today have the advantage of a diverse array of homes to choose from, some with significant markdowns due to foreclosure, loan defaults and short sales. The extent of discounts on distressed properties varies widely by region, but according to the most recent data, foreclosures sold for 26% less than similar homes and short sales sold at an average of 13%*** less than their counterparts.  With the high inventory of homes, it is a Buyer’s market, although homes which show well, are well located and priced correctly sell quickly and often with multiple offers, yes, even today.

It’s important to remember that all real estate markets are essentially local. The economic environment and employment situation can vary distinctly from area to area and impact the balance of housing supply and demand. The answer of rent vs. buy has to come from within. I recommend taking an overall look at your lifestyle, job, and future. If you feel confident that your paycheck is steady, you’re ready to take on new responsibilities and you are ready to plant your roots in Portland, then I recommend purchasing a home.

    * Harvard University, The State of the Nation’s Housing 2010

  ** Freddie Mac Primary Mortgage Market Survey, 10/20010(for prime borrowers with 20% down payment)

*** Businessweek, September 30,2010

Last week I had a couple free hours in the afternoon so headed over to the Architectural Heritage Center at 701 SE Grand Ave.  I have driven by this building, hundreds of times, never realizing all that has been preserved inside. (Wow!)  

Presently the museum’s exhibit, Re-Building South Portland, examines the area’s origins as a home for recent immigrants and its rapid development into one of the city’s most ethnically diverse neighborhoods. The museum has great pictures, as well as physical architectural elements from homes and businesses preserved from this era. The exhibit shows within a few decades how the changing demographics, and  rise in the automobile use made the area vulnerable to redevelopment, and by the mid 50′s nearly all had been bulldozed. They have several cool black and white aerial photos of the whole downtown area, including the Willamette and Bridges, showing before and after. 

If you have never been to the Architectural Heritage Center or have not visited in awhile, this is a chance to see rare images and artifacts, read stories, and they even have a video, all telling the story of South Portland.    

The AHC is a resource center for historic preservation, owned and operated by the non profit Bosco-Milligan Foundation. They also have a diverse education program, offering various Saturday lectures. Some upcoming subjects they will be covering include: Portland’s Classic Arts and Crafts Neighborhoods, Aging in Place – You and Your House are Getting Older, and How to Read Local Landscapes - check them out at: www.VisitAHC.org