Welcome to Wilsonville!

Serving the community with pride!

Five Things to do Right After Closing

by

If you just bought your first home, you’re probably still celebrating and feeling the sense of pride and accomplishment that comes with home ownership. You’re shopping for furniture, drawing up plans for renovations … but wait! There are some important tasks to cross off your list before you get to the fun stuff.

1. Change the locks: A lot of people came in possession of your keys during the home sale process, whether it was on the market for a year or a day. Protect yourself by changing all the locks, just in case a set of keys fell into the wrong hands.

2. Make copies: It’s good to have copies of all your closing documents, if only for reference. But in the worst case, you’ll be thankful you have your own copies if something goes wrong.

3. Make sure you get your mail: The post office won’t deliver your mail if the mailbox doesn’t have a name, and it’ll be difficult to sign for packages if UPS can’t get to your front door. If you’re in a multi-unit building, make sure to put your name on your mailbox and verify that the buzzer or call box is working.

4. Meet your neighbors: It’s not just about being cordial. It’s good to exchange contact info with your neighbors in case there’s a problem in the building or someone is being noisy.

5. Prepare for emergencies: Store the contact info for insurance agents and services like plumbers and locksmiths in your phone. You don’t want to waste time searching the internet when you’re locked out on a winter night or your home suffers fire damage.

The Best Things About Home Ownership

by

If you own a home, there was certainly a lot that went into your decision to buy rather than continue to rent. Now you’re enjoying all the advantages of homeownership—here are the top five.

1. Building wealth: When you own a home, you have an asset that will likely increase in value over time. It provides great security, and the opportunity to essentially live “rent-free” in your retirement years when the home is paid off.

2. Freedom to make it your own: Landlords can be strict about customizing rental properties. Most don’t even allow their tenants to paint. But when you own a home, the possibilities are endless. Get rid of a wall, or paint it any color you like. It’s your property.

3. Building equity: Every mortgage payment your make, and every improvement you make on the home, is putting money back into your pocket. Unlike with renting, owning a home gives you more than just a place to live. You can use your home equity to get loans and even cash for emergencies.

4. More freedom and stability: Studies show that homeowners have a better sense of pride and security than renters. When you relax in your own home, you know it’s the result of hard work and planning, and that you have the freedom to change it as you wish.

5. Tax advantages: Homeowners can deduct the interest paid on home loans and property taxes—that’s a big break that comes up every April 15.

Five Ways You Can Get Earnest Money Back!

by

No matter how much time you spend on researching and educating yourself about your home purchase, it’s hard to cover every detail. Here are a few tips for avoiding rookie mistakes with your first home purchase.

Earnest money is a deposit you pay when you make an offer on a home—it’s a way to show the seller that you mean business. Usually you can’t get it back, but there are several circumstances that allow you to recover your earnest money.

  1. Appraisal contingency: With an appraisal contingency, you can recover your earnest money if the home is appraised for less than your offer. This gives you a better negotiating position—if the seller doesn’t agree to a lower price, you can get your earnest money back and walk away from the deal.
  2. Major problems with the home: It may be your dream home at the surface level, but an inspection could reveal major, major problems—such as issues with the foundation, or flood damage. In that case, you can get your money back if the seller doesn’t agree to a lower price.
  3. The seller backs out: Obviously, if the seller changes their mind about the transaction—maybe they decide not to sell, or accept a higher offer—you get your earnest money back.
  4. Your house hasn’t sold: Many buyers can’t afford a new home if they’re still financially responsible for their old one. In this case, you can work a sale contingency into the contract, and get your earnest money back if the home doesn’t sell soon enough.
  5. Financing issues: Though there are some limits on financing contingencies, you can get your money back if you’re unable to get a loan.

Just Moved In? Here Are Some Must-Haves for Your New Home

by

Moving into a new home is an exciting time in your life. You’re making plans for renovations and choosing furniture, but before you get too far ahead of yourself, there are some more important matters to attend to.

Staying safe: Make plans for home security and emergencies. What’s your escape route in case of a fire, or shelter in case of a severe storm? Do you have a home security system, a protective dog, or weapon available in your bedroom? Choose your “Stay Safe” tactics and make a plan for the worst-case scenarios that put your safety at risk.

A disaster kit: Even if it’s as simple an inconvenience as a power outage, you want to be ready. Stock a flashlight, non-perishable food, water, a first-aid kit, and warm clothes/blankets that you can access in case of an emergency.

A spare (secret) key: It’s no fun getting locked out of your house—especially in cold or wet weather—and no one wants to pay a locksmith to access their own home. Hide a key somewhere outside (just be more creative than hiding it under the welcome mat). There are plenty of devices you can purchase, such as magnetic key hiders, that can help you hide your key in places that a trespasser wouldn’t consider

Avoid These Comments When You’re Buying a Home

by

avoid-these-comments-when-you're-buying-a-home

Sometimes you need to keep a poker face when you’re buying a home. It’s not in your best interest to be totally candid with the seller and listing agent when you’re considering a home. Here a few things that are better left unsaid.

“This is at the top end of our budget”: Don’t let the listing agent know that a home is at the top of your budget. You want to keep all the bargaining chips you can, and letting the seller know your budget can hurt you when it comes time to negotiate.

“I hate the paint”: Or furniture. Or cabinets. Or any of the decor. No matter how hideous the wallpaper in the kitchen is, take care not to insult the seller’s taste. If they’re considering multiple offers, you don’t want to be the buyer that offended the seller!

“We can’t wait to renovate”: Customization is one of the big perks of homeownership, but it’s best to keep your renovation plans quiet for the moment. The seller may have a lot of memories in the home, and may not appreciate your plans to immediately tear down some walls.

 

No Time Like the Present!

by

no-time-like-the-present

Thinking about buying your first home, or perhaps upgrading from your current place? Thanks to the current economic climate and game-changing technology in the housing market, now is the perfect time to take the plunge.

Low interest rates
Lenders are giving buyers mortgage rates that are extremely enticing—you can get a mortgage below 4.0%. There’s a good chance these are the lowest mortgage rates we’ll see in a long time, which means affordability is at a high.

Prices are on their way up
Mortgage rates may be low, but housing prices are getting higher and higher because of demand—prices increased 5.1% year-over-year in November 2015. If you’re thinking about buying, delaying a few years could lead to a higher purchase price, or getting less home for your money.

A great job market
The United States added 2.65 million jobs in the last year. There’s increasing job security and available work, leading to high consumer confidence.

Technology makes buying simpler and less expensive
Along with listing websites like Zillow and Trulia, there are an increasing number of websites and apps that simplify the process, make it easier to shop around for homes and mortgages, and save you money.

Cheap fuel
Lower gas and energy prices mean more money in your pocket and more purchasing power. The money you’re not putting into your gas tank or toward your utilities can instead go toward saving for a down payment or affording a bigger monthly mortgage payment.

 

Does Staging a Home Make a Difference?

by

does-staging-a-home-make-a-difference

It seems to be universally accepted that home staging will help your home sell faster or for the best price—it’s been the common practice in the real estate business for a long time, and on the surface it seems like a no-brainer. Of course potential buyers will be more interested if a home is properly decorated, right?

That’s not necessarily true, according to a recent academic study. The study surveyed 820 homebuyers by showing them one of six virtual tours of the same property. In some instances the home was decorated with traditional furniture and color schemes, while in others more eccentric furniture and colors were used. In other tours there was no furniture at all, just empty rooms.

The overall results of the study were that staging is unlikely to increase a home’s sale price, and that staging isn’t quite as important as everyone believes.

Of course, real estate trends vary greatly from market to market. If you have questions about staging, talk to your trusted real estate professional.

 

Five Tips For Selling Your Home in a Hurry!

by

five-tips-for-selling-your-home-in-a-hurry

There are a lot of factors that will determine how quickly your house is sold, and it’s important to tackle the factors you can control. If you’re still living in your home while trying to sell it, these are a few simple ideas that can help speed up the home sale process.

  1. De-clutter: Buyers want to step into a prospective home and imagine the possibilities. That’s a lot easier to do when a space is airy and clutter-free. Get rid of the clutter that’s just taking up space in your home, and it can totally transform how a buyer sees the property.
  2. Offer an incentive: Don’t break the bank for add-ons that don’t make financial sense in the long run, but there are some reasonable expenses you can use to entice buyers, such as offering a home warranty.
  3. Focus on flow: Now that you’re working toward a new home, it’s important to position your furniture for easy movement through the space, rather than how you personally like it arranged. Position your furniture so that it’s natural to flow from one room to the next.
  4. Take care of your to-do list: There’s probably a list of small repairs that you’ve been putting off for a while, like fixing a dripping faucet or touching up paint on some walls. Make those repairs so that the home is more move-in ready for buyers.
  5. Commit to cleanliness: Just like removing clutter, keeping your place clean can go a long way toward appealing to buyers. It’s especially true in the kitchen—no dishes in the sink or coffee rings on the countertops!

 

Remember to Inspect Your Ceilings

by

Ceilings undergo a lot of stress—after all, they help hold up your house. Ignoring or neglecting a small problem can lead to a big problem and expensive repairs down the road, so here are a few key things to look out for with your ceilings.

Water-related issues in the bathroom: All the moisture from hot showers, baths, and splashed water can lead to damage, whether it’s mold or bubbling paint. Keep an eye out for water damage, and refer to a professional for anything that looks problematic.

Cracks: Changes in temperature cause the materials in your home to expand and contract, and that creates stress that leads to cracks. Cracks are especially problematic in newer homes, as they can be a sign of poor construction.

Paint problems: If you’re seeing a large section of peeling paint, it could be indicative of a water leak, so be sure to have it inspected immediately. Call a professional to take a look and make sure it gets fixed before there’s major water damage.

How Do HOAs Work?

by

When you purchase a home, there’s a good chance you’ll have to pay a homeowners association fee, especially in gated communities, townhouses, condominiums, and other similar planned neighborhoods. The idea is to keep common areas clean and maintained, and there’s usually an HOA board that is responsible for setting the rules and regulations.

Each HOA is different, but most have the same core elements. You’ll typically pay your HOA fees either monthly or annually, and it’s an important factor to consider when you’re weighing your options for a new home. So what is typically included in your HOA fees?

First, the fun stuff
Amenities are typically the big perk of living in a community with an HOA. While you lose out on some of the freedom of living without an HOA, you instead get community amenities like a maintained pool, gym, clubhouse, tennis courts, and other amenities. The HOA fees pay for cleaning and maintenance, so—in theory—you’ll always have a clean pool whenever you want to use it.

Protecting the community
HOA fees often contribute to insurance for the community amenities, as well as a fund for unexpected repairs to damaged community property—think damage from weather or accidents.

General maintenance
Your HOA fees will go toward maintaining the general safety and upkeep of the community. This means things like elevator maintenance for condominiums, snow removal, and trash/recycling services.

Be active in the association
There may be a board of directors, but homeowners associations exist for the betterment of the entire community, and every voice matters. HOA meetings—and the amenities they support—provide great opportunities to meet your neighbors and make your community a better place.