Lake Oswego Short Sale Info

What is a short sale?  The homeowner owes more on the home than the home will sale for in the current real estate market.

Why a short sale?  A short sale spares the homeowner from going through a foreclosure, can save the bank tens of thousands of dollars in processing charges, can get a buyer into a home possibly below market value and helps stabilize the neighborhood.

Work with an experienced agent that has successfully negotiated short sale and bank owned property.  Getting a family into a vacant REO property helps buyer and the banks and the neighborhood as well. 

An experienced agent has the unique opportunity to begin the healing process of neighborhoods and communities, getting the economy back on its feet, one household at a time.

What questions do you have on short sales?  Email me at info@lakeoswegohomesellers.com Together we will review your needs.

Will designer colors cost you the sale of your Lake Oswego home?

When you think of color most of us think of Devine Color.  Devine is a Northwest original developed in the countryside Hillsboro Oregon in the 90’s.  Color was new and refreshing, it seemed to be all the rage and many Lake Oswego/West Linn home owners where some of the first take its dramatic splash. 

The Street of Dreams homes even had designer color noted hand outs so you could be on the trend fast!  Those whom could afford the color expertise of an interior designer followed their vision thoughout the home.  Dining rooms became shades of red, a warm orange for the family rooms, and yellows for dimly lit rooms, and so on…  I personally love yellows; they brighten your mood and create a positive energy to the room. 

Of course bedrooms were another story, as they became personal to the inhabitant.  Grand Master suites of expresso blends or ocean tidepools, sweet & hot beans color brights of lemon drop & grapes for the preteen girl, spun tales blues & reds for boys.  For those who chose to go to the color wheel alone, made their personal statements, afterall color is art and art is personal right?

Now a few years later these same homes are finding themselves in the resale market.  Sellers are proud of the interior master piece.  Alot of time and money went into its creation and surely a buyer will feel the mood of the home.   Many list agents not wanting to affend or loose the listing, simply state “designer colors thoughout”.   Others who dare, are at the other end of the spectrum and discuss the option to “vanilla-ize” the home.

So which is right?  Alot depends on price range of the home, how intense the master piece, and knowing your buyer.  Is your home to be move in ready or another job for the next interior decorators painter?  There are many shades of vanilla.  Vanilla even has its own color wheel!

A warm shade will create the immediate sense of a cozy home, whereas a too white home or room, becomes invisible and cold.  By using variations of the same warm color,  rather than a contrasting color in each room,  you can create a soothing flow from room to room, and it does not distract a buyers’ eyes.  You want the buyer to see the home not just the color.

Some rooms just need a splash, just enough to help the buyer to remember (fondly) your home.  Go cautionsly with impact color,  a little goes a long way.  Painting could be the easiest task to get your home ready for todays’ buyer, or a new look for your home for you to enjoy.

Is Lake Oswego bubble proof?

Lake Oswego and West Linn seem to share in the same bubble zone.  I love that word… Bubble. It is a nice fun word that doesn’ sound as harsh as its reality.  Lake Oswego Home Sellers are tuned in to the bubble reality.  Property values appreciated 7.8% in 2007, today’s 2008 reality is down -4.6%.  Numbers don’t seem to drastic. 

Key here is when you bought and at what price.  If you were the eager buyer in 2006 that won a multiple bid war on your dream property and need to sell today, your bubble may be about to burst.  If you bought 10 years ago, your property has probably doubled in value.  Historically, property doubles every 10 years or so. 

Price zone is also a factor.   Here is the challenge, since the average price in Lake Oswego and West Linn is above the conventional ceiling of 417K, our buyers need to not only bring money to the party, and they need outstanding credit for those under 5% rates.  Sellers that may be upside down in their property must know what their lein holders policy is on a short sale.  If your clock is ticking, don’t wait for them to call you.  You take the first step.  Don’t know where to start?  Call Lake Oswego Home Sellers.

Selling your Lake Oswego home…

Homes in Lake Oswego are selling, just not very fast.  Inventory, news press, statistics, interst rates all point to the tech savvy buyer doing their homework.  They determine what your home is worth, so understanding the buyers process is key to selling your home.

Today Lake Oswego home buyers control the market and in December paid just 87% of the average list price.  Just 16 homes did close, leaving 671 housing options still available.

Knowing how your Lake Oswego home compares to the others is critical.  Move in condition means just that.  Many sellers still think that a buyer is going to low ball an offer just to get things rolling, they may need to think again.  That wallpaper that was fabulous in the 80’s or even the 90″s is so out, and a carpet allowance offered at closing because of the hassle to replace the worn, outdated look could be costing you plenty.  These are things that can make a buyer run.  And since there are many Lake Oswego homes for sale, the buyer and their agent may not even take the time to look at your home.

With so many options ranging from a builder willing to on standing inventory, to a not so perfect bank owned property at a fantastic price….where does your home fit in this scenario. 

Pricing and property condition are key to the buyers interest.  Closed home prices in December ranged from $1,150,000 down to a low of $389,000,  showing Lake Oswego has buyers and homes in all price ranges.