-Denver

A: It’s possible to get a great deal on a short sale-where a home sells for less than is owed on the mortgage-but whenever a seller is in a financial bind, you should be prepared to pay extra costs.

Expect to pay for many of the expenses that a seller would normally pay in the transaction-because the lender, who is taking a loss, may refuse to approve the deal if you don’t.

Just what those costs will be varies. For instance, some lenders will agree to assist with a buyer’s closing costs; others won’t. Some will pay broker’s fees-others won’t. (If you agree to pay your buyer broker a certain fee for finding the house and handling the deal, and the lender doesn’t pay it, it will come out of your pocket.)

Among the other expenses you may have to shoulder: unpaid homeowners association dues, appraisals, inspections, mechanics and other liens, a second deed of trust, transfer and other fees and even the seller’s back taxes.

If the price you and the seller agree to is lower than what the bank will accept, you will be asked to make up the difference-though it’s worth trying to negotiate this point.

On top of that, if there are any repairs to be made-and since sellers under financial stress often let maintenance slide-you will have to make them. Short-sale homes are almost always sold “as is,” although some lenders will agree to pay for termite damage, or to correct safety or building code violations.

Eligible participants will meet with a Building Contractor and Energy Advocate from the Energy Trust of Oregon to determine what upgrades are available and best suited for the home.  Based on their assessment, the homeowner determines which upgrades they’d like to make.  There are no upfront costs, and rates are minimal, at 5.99% or 3.99% for income-qualified participants, over a 20 year term.  It really doesn’t get much cheaper than that!  Payments are made directly through your utility bill via NW Natural, General Electric, or Pacific Power.

It can be a daunting task to find a qualified, trustworthy contractor to perform any type of work to your home, let alone for work that requires a specific money-saving, environmental impact reducing outcome. This program really walks you through the process with true experts and at a minimal cost.  Get in on it!

Find out more or apply online at:  Clean Energy Works of Portland

Collect rain water and use it for your plants.

• Make sure you’re not over-watering.
• Don’t hose down your sidewalks and driveway.
• Get a push mower for your lawn.
• Say no to leaf-blowers!
• When you’re done mowing, leave your clippings on your yard.
• Be sure to compost your other yard waste.
• Embrace native plants.
• Are you addicted to the look of grass but live in a high-drought area? You may want to consider synthetic grass. It uses no water, lasts over ten years, and looks & feels surprisingly real.
• Why not start your own organic food garden?
• Use non-toxic fertilizers and pest-control agents for your garden and lawn.

Dates: March 21 through December 19
Times: 8:30 a.m. – 2:00 p.m. – April through October

9:00 a.m. – 2:00 p.m. – November & December

Location: The Saturday Market is located at Portland State University in the South Park Blocks between SW Harrison & SW Montgomery.

The plan would give a tax credit of $15,000 (or 10% of the home’s purchase price, whichever is lower) and applies to all buyers – not just those purchasing their first homes. The Senate plan has no income limits and, unlike the tax credit passed last summer as part of the Housing Recovery Act, does not have to be repaid.

At the same time, mortgage interest rates are expected by many to fall to 4.5% in the coming months.

Is a sizable tax credit combined with a rock-bottom interest rates and unprecedented selection enough spark stagnant sales? Or are potential buyers going to continue to wait, believing that our market has not yet hit bottom?

Current home prices in Portland metro area are down 17% from their peak. Houses in the local market usually sell quickly when priced at 80% of their peak price.

Home buyers waiting for the real estate market to hit bottom will inevitably be caught making their purchase as house prices are on the rise. There may never be a better time to find the home of your dreams….

Solar Oregon is a non-profit organization promoting and supporting solar energy.  Solar Oregon offers free workshops to provide basic solar power knowledge and educate the public on the current financial incentives that are available.  These workshops are a great starting point for anyone interested in learning more about this progressive energy option.