First Time Home Buyer Credit Update

Information Courtesy of Smyth & Clark PC:

The credit for first time home buyers has been increased to $8,000. Under 2008 law, the credit had to be repaid. Under 2009 law, for homes purchased between January 1, 2009 and December 1, 2009, the credit does not have to be repaid (as long as you live there 3 years) and is refundable. This means you get $8,000 back even if you paid no tax for the year. In addition, you can amend your 2008 tax return and claim the credit immediately rather than waiting until your 2009 filing. On November 6, 2009 there was another change to this credit. Now you have until April 30, 2010 to enter into a purchase contract on a home. (Which must be completed by June 2010) In addition, long-time homeowners can claim a credit of $6,500 for purchasing a new residence. You must have lived in your old home 5 of the last 8 years. Some income limits apply to either credit.

Best advice: Use this as a guide, but check with your own CPA to know what will apply to you.

Oh, What A View! New Listing in Oceanside

Back on the market after a long winter break, priced $94,000 under the original list price!!! Perched high above the surf, with white water ocean views, this home was designed by an artist and brought to fruition by Loten Hooley, a reputable Oregon Coast builder -- inspiring architectural artistry meets solid, high quality coastal construction.






Behold the white water ocean view from the deck on the South side of the home. A hot spot on sunny days in Spring, Summer and early Fall, its strategic location offers protection from the cool North wind of the Summer months. For the days that "look" nice at the beach, on this deck, they really are nice. Warm, sunny, no wind and a fabulous view!

I love a home with a light and bright, highly functional, open floor plan, especially on the coast, where natural light can be fleeting at times. Besides the view and wind-protected deck, the floor plan of this home really makes it shine. It lives and flows well. You could fit a good size family in, but feel like you have your own spaces, while maintaining the feeling of being on the same vacation. Not too big, not too small. Just right!




3 bedroom, 2.5 bath, approximately 2,045 sqft, and mesmerizing ocean views located in Terrasea, a private community nestled in the hills of Oceanside. For more information about this home visit www.iWantABeachHome.com. Click on "Properties." Scroll down the page. It's all there.

Thanks for visiting!

Sincerely,
Wendy Stevens
Real Estate Broker

Beauty at the Beach

I captured this photo at a listing appointment last Friday. I have many more to share, as the property itself is absolutely amazing! More on this home and acreage coming soon! So, the photo to the left: This light seeking giant was [is] gnarled into the earth with roots emerging 10 feet above my head the size of 80 year old tree trunks! I estimate the stump supporting this dynamic system to be well over 100 years old. Where else on earth do trees like these grow? Truly amazing!!! Though this tree is on the banks of Bewley Creek just South of Tillamook, hundreds of similar trees (most not quite as large) grow in and around the woods behind Cape Meares, Oregon. Each and every one equally unique and fascinating!

For more information about the Cape Meares area, visit http://www.fws.gov/oregoncoast/capemeares/.

To view my latest coastal retreat listings, visit http://www.iwantabeachhome.com/

Thanks for the visit! Comments welcome!

Sincerely,
Wendy Stevens
Real Estate Broker

Rockaway Beach Residential Listings Reach 115!

Looking for a home on the Northern Oregon Coast? You might consider taking a look in Rockaway Beach. Of the 395 Active Residential listings in all of Tillamook County, 115 of those, as of March 30, 2009, are in Rockaway Beach! They are not all ocean view, or on the beach, but 115 listings ranging in price from $95,000 - $2.2 Million, is a large number of homes to choose from in one area! I would anticipate prices reductions coming soon! Not just due to the scarcity of buyers, but also the active listing saturation level. High competition between sellers is usually great news for buyers!


I had the opportunity to spend some time in Rockaway Beach showing homes to a prospective buyer this last weekend. If you were on the Oregon Coast, you know the weather on Saturday wasn't good. "Buckets of sideways rain." That's the best description I can give it. Despite the bad weather, the good news I thought was the competition level of seller's in the area -- a true buyer's market! While there are many homes to potentially look at and consider, the buyer I was there to show homes to had a relatively specific, but straight forward criteria -- things most people are in search of: Good ocean view, easy/short walk to beach, 3+ bedrooms, and not in need of major repairs. Of the 115 homes currently for sale, this simple criteria took our home tour down to just five homes. Wow!


With the tour narrowed down to just five homes, the chances of finding a perfect fit for this particular buyer in Rockaway Beach just became a little more difficult. Of these five homes, one did not have a view (eventhough the MLS stated it did), one had gone back to the bank (locks had been changed), one was a vacation rental (with people staying in it -- not open to having it shown) and two we were able to get inside of; one of which was severely overpriced for it's size and view, and the other actually a very nice home and a decent value, but with the potential of losing it's beautiful ocean view in the future.



I was sure with the high number of listings something would meet the needs of almost any buyer truly in search of a home at the beach. I am sure you guessed it already: We completely struck out! Back to Oceanside, Netarts and Cape Meares this time! Updates on these beach communities coming soon....! p.s. I would love to take a buyer to Rockaway Beach not seeking a home that is easy walking distance to the beach! There are many amazing view homes up on the hill overlooking all of Rockaway Beach with exceptionally low prices.

Visit http://www.iWantABeachHome.com/ to view homes and land in Tillamook County on the Northern Oregon Coastline. Use the MLS Search feature, but don’t hesitate to ask for help at any stage of your home search.



Thanks for stopping by! Stay informed by signing up to be notified
of new postings.


Sincerely,Wendy Stevens

History Reveals Insight: What Will the Market Do Next?

In the spirit of making positive statements: Real Estate is going to get better. History says so!

Here are six interesting facts about the past that may give insight into WHEN: (Courtesy of Investment strategist James Swanson, CFA October 8, 2008)

1 - In January of 1970, a bear (down) market started and lasted until May of that year. The market during that time fell 35.4%. In May, a bull (up) market began and lasted until January 1973, bringing a 124% gain in stock values.

2 - In April 1981, another bear market commenced and lasted nearly a year, bringing a 24.7% decline. Then, in March of 1982, the market began to rise and continued doing so until June 1983. The overall gain in this period was 71.7%

3 - July 1990 brought a downward market that lasted three months, until October 1990, at which point equity prices had fallen 22.4%. Then, in the same month, a new, now legendary, bull market took hold and lasted nearly eight years, until July 1998. It delivered at stunning 330.7% gain for the market.

4 - Dating back to 1975, 8 of the last 15 bull markets have started in the Autumn months of September, October and November.

5 - Since 1957 there have been 15 bear markets, as measured from peak to trough, and on average they have lasted 10 months and brought an average decline of 29.4%.

6 - The duration and degree of these bear markets were significantly less than the duration and magnitude of bull markets. During the same period, there were also 15 bull markets, which lasted, on average, 30 months and brought average gains of 112.5%.


Visit http://www.iwantabeachhome.com/ to view homes and land in Tillamook County on the Northern Oregon Coastline. Use the valuable MLS Search feature, but don’t hesitate to ask for help at any stage of your home search.

Thanks for stopping by! Stay informed by signing up to be notified of new postings.

Sincerely,Wendy Stevens

Think You’ve Tried Everything? How About A Positive Attitude?

It’s the lead story on the news morning, noon and night, on the front page of the newspaper almost daily, it’s the headline on your favorite search engine, and is being chatted about over water coolers around the world. I am sure you are familiar with it – I am talking about negative press. “The US economy has fallen off a cliff!” states billionaire Warren Buffet. That can’t be good.

Something tells me words like these don’t do much for the economy, and have a way of elevating the fear amidst the general public, driving any potential homes sales into the ground. I often wonder what it would be like if the media reported positive news, and had to make positive statements about the economy for seven consecutive days. What effect do you think that would have on the attitude of the general public? Even one day of positive news would make a difference.

I have big ideas about the effects of having a positive attitude! Here’s something you can do yourself: If you currently have a home for sale, the next time someone asks you this redundant question, “How are things going?” Instead of your usual, “The market stinks” turn to them and say, “Things are going well, thank you for asking! I have a really good feeling Spring and Summer will bring buyers back to the market. I am really looking forward to receiving several decent offers by mid-Summer.” Whether, or not you actually believe this statement to be 100% true at this very moment in time is beside the point. The more you say it, the easier it will be to say, and the closer you will be to believing it yourself. Say it to the mirror if you have to! Just hearing yourself say it aloud will help your brain produce positive thoughts. If you don’t like this positive statement, come up with one that works for you.

Positive attitudes are contagious, in much the same way negative attitudes are. Real Estate is no exception. The Three Capes Loop area of Oceanside, Netarts & Cape Meares is quaint. Just a few people making positive statements could spread like wildfire! If you haven’t tried positive thinking and/or making positive statements already, it can’t hurt to try. If nothing else, it could put a smile on your face as you say it, make the person you’re saying it to smile, and maybe even make their mouth fall open! I think that would be okay!

Something worth mentioning: Warren Buffet made a positive statement, as well. He said, "Everything will be all right. We have the greatest economic machine that man has ever created." Unfortunately, it was the last sentence in the collection of statements he made. Fortunately, we can recognize it to be “Better late then never!”

I think it is time to take as much as we can into our own hands. Maybe do things a little differently around here! Practice positive thinking. Make positive statements first and a positive attitude shall follow. It may not come easily, you might feel silly doing it at first, and it could require practice, but it can be done. Set your doubt aside and do it! Say something positive now!

Visit www.iWantABeachHome.com

View homes and land in Tillamook County on the Northern Oregon Coastline. Use the valuable MLS Search feature, but don’t hesitate to ask for help at any stage of your home search.

Thanks for stopping by! Stay informed by signing up to be notified of new postings.

Sincerely,Wendy Stevens

Traversing Northern Oregon Coast Real Estate: Great Value, or Overpriced?

You already know Tillamook County offers many wonderful beach and inland communities. You love what this stretch of the coastline has to offer; hiking, beachcombing, crabbing and brilliantly colored sunsets enhanced by deep blue waves crashing over monolith rock formations just off pristine sandy beaches. You’ve been visiting for years; Oceanside, Netarts, Cape Meares, trying out a number of different vacation rentals – some better than others. Every time you visit, you look around at what’s for sale, pull flyers to see if you can afford the prices and dream about what it would be like to have a home of your own at the beach.

PRICES ARE DOWN
When you visit this Spring, you will notice many homes are no longer on the market, and the prices of those remaining have come down since last Summer. Oceanside had over 40 homes for sale Summer 2008. As of March 1, 2009 there are 25. Average price per square foot of ocean view homes in Oceanside, Oregon in 2007 was approximately $363. In 2008 it dropped to nearly $252 per square foot! You can do the math to get an idea of what 2009 may bring about.


NAVIGATING THE SEA OF SELLERS
Thinking of investing in a home at the beach, but not sure which homes are priced competitively, and which haven’t quite adjusted to the current market? It can be tricky! Beyond price, to confuse matters further, there is a wide range of sellers – those that have to sell, those that want to sell, and those that will sell only if they can get what they want for their home. To make an informed decision, and not feel as though you have overpaid for a home, you’d better do your homework. My advice to those considering Real Estate at the Coast: Consult a Realtor that is not only knowledgeable of the current market conditions, but knows the history of the homes for sale in the area you are interested in.

TOOLS FOR SUCCESS

Complete your own MLS search http://www.iwantabeachhome.com, or request to receive links (sent to you by Tillamook County Realtors) and look closely at the "History" tab in the details section of property links. In this tab, you can see the history of the subject property – past sales prices for the home, days on the market for each listing, and price reductions on the current active listing. It is not uncommon in this market to see homes for sale at prices lower than they sold for in years as recent as 2005, or 2006. It is also interesting to look at the length of current listings and their original list prices. On all three Northern coast MLS’s today, Tillamook, Clatsop and Lincoln County, you can find many homes that have been listed for 300 days, or more. Thought you had to pay $1,000,000 to get an ocean, or bay front home? The very real reality is you may now pay several hundred thousand less in many areas. Who imagined the time would come again where you could potentially buy a home with some form of an ocean view for a price tag as low as $239K?

SHOW ME THE DEALS

To see some great examples of price reduced homes in Tillamook County, follow this link: http://www.iwantabeachhome.com/mls-search-f13138.html and type the following MLS list numbers separated by commas into the designated field: 08-743, 09-7, 08-796, 08-14, 07-1042. Note: MLS #07-1042 is a fabulous Netarts Bay Front home reduced from $990K to $685K. Be sure to check it out!

QUESTIONS TO ASK
In addition to knowing the history of a home, here are some questions to seek answers to in determining if it is priced appropriately and/or if there is room to make a significantly price reduced offer. First, determine whether or not the subject property is a "Commodity" - Something of significant use, advantage, or value. Some questions to ask yourself and a Real Estate professions may be: Are there few homes similar to it for sale? Does it offer a one-of-a-kind location, or view? Is it a style, or type of home that could not be rebuilt for the price it is listed at? If you answered "yes" to any, or all of these questions, you may have a "commodity" type property on your hands. In this case, it's price may not be entirely reflective of the downturn in the market, unless the seller (private party, bank owned, or foreclosure) is distressed in some way. Not all homes will undergo large price reductions in the near future. Some can be considered a commodity, and/or have sellers that consider it to be just that. At the present time, there seems to be a collection of exceptionally nice homes for sale that typically would have been snapped up in a matter of hours after hitting the market. Even without dramatic price reductions, these properties can still be considered great opportunities, as in this market you will likely have more time to make a decision without another party competing for the same home.

ENTER THE LOW BALL OFFER
Established thus far is the imperative nature in the current market of knowing the history, or situation of specific Real Estate you are interested in. One final tactic to mention that seems to be gaining in popularity, is the so-called "low ball offer." As a general rule, I do not advise buyers to make extremely low offers, especially on homes they are not certain are in a distressed situation. However, I witness and assist buyer's making low offers with the following justification, "I want to see how desperate this seller is." Enter low-ball offer. In times past, unjustifiably low offers were shunned by sellers, often not looked at and/or not responded to. An interesting turn of events has occurred. Sellers seem to look at most offers, and respond even when they are undesirable. I applaud seller's for their steadiness through these difficult times. It is admirable to swallow your pride and respond even to offers you feel are way outside of your comfort level. I attribute this willingness to participate to the simple fact of offers becoming fewer and farther between. Sellers may be compelled to respond to offers they would have in years passed been insulted by.

SOMETHING TO NOTE: A counter to any offer in this market is an opportunity for a seller to make their situation crystal clear to a buyer. If they are highly motivated to sell, they will consider the offer and make a suitable counter to meet their personal needs, likely with a price reduction of some sort -- perhaps meeting in the middle, or slightly above. The alternative for a seller at this juncture, if they are not in a hurry to sell, or that price will not meet their needs, is to counter back at, or near their current asking price. This says to the buyer, boldly and clear, "We are not interesting in selling our home much below our current asking price." The "low ball offer" once viewed as a foe, has become a seller's opportunity to entertain offers and make statements through counter offers.

Don't be deterred by complicating factors in the current marketplace! Instead, as a preventative measure find a Real Estate professional to help you traverse the current situation. The opportunities on the Northern Oregon Coast are certainly plentiful.

Visit www.iWantABeachHome.com to view homes and land in Tillamook County on the Northern Oregon Coastline. Use the valuable MLS Search feature, but don’t hesitate to ask for help at any stage of your home search.

Thanks for stopping by! Stay informed by signing up to be notified of new postings.

Sincerely,
Wendy Stevens

Real Estate Professionals Bring Big Advantages to Buyers

If Real Estate on the Oregon Coast is in your future, consider calling upon a Real Estate professional to act on your behalf as a "buyer's agent." If you are not sure exactly how this works, continue reading!

Something many people do not realize is that most Real Estate brokers are willing to work on a potential buyer’s behalf at no charge to the buyer. "Who pays a buyer’s agent?" Until a buyer makes an offer (that the buyers agent has written) on a property that is accepted and results in a closing, a buyer’s agent does not get paid. At closing (when a purchase is complete and the keys are being placed in the buyer’s hand), the buyer’s agent is paid out of the designated commission dollars, decided upon when the subject property was listed with a Realtor to put the home up for sale. Every property has a different commission rate negotiated at the time of listing, but it is in no way determined by the buyer’s agent.

Working with a Buyer's Agent -- Benefits to the Buyer:
1 - Representation by a Real Estate professional that is working solely on the behalf of the potential buyer's and in their best interest as a buyer.
2 – Have thorough property searches completed based on a criteria specified by the potential buyer.
3 – Receive results of the property searches via email in the form of interactive property links directly from the MLS completed by the agent for the buyer to review at their convenience. (Also a great way to learn the full history of a property, which these days can be surprisingly complicated and in-depth.)
4 – Have the agent preview homes upon request to save a buyer the time and money it would take to drive to the destination of each home, some of which may not be even be worth looking at. This works especially well once an agent knows the preferences of a buyer.
5 – Benefit from the buyer’s agent calling each and every listing agent of the homes of interest to set up multiple appointments at times that are convenient for the buyer. (No more calling the number on the sign!)
6 - Accompany the buyer to each and every home on the list, offering additional information upon request. Agents can open the door of any home actively for sale with the permission of the homeowner and listing Real Estate agent.
7 - Should the buyer decide to make an offer, the buyer’s agent will write up all offers with the necessary legal documents, provide consultation upon request regarding price and strategy, and ultimately handle all transactional details up to closing and beyond.

A Realtor may assist a buyer for six months, or more with property searches, write up multiple offers that do not result in a purchase, and still will not be paid. When a buyer successfully purchases a property, the buyer’s agent will be paid out of the sale proceeds by the seller. If a buyer never finds a home, or their offers are never accepted, the agent is not paid. The bonus to the buyer is their only responsibility is to accept the help of the agent they have chosen to assist them with their property search and acquisition attempts.

With MLS search options readily available on many Real Estate websites, a fair amount of information can be found through searches buyers do themselves. The pressing question is, "Why do it yourself when a professional can do it for you for free?" Often I hear people say they worry they will be obligated, or will be bothered and pressured by an agent if they ask for help. I understand how this feels, as before I was a Real Estate broker myself, I often felt like it would be a pain to have to answer someone’s questions when I really wasn’t even sure what I really wanted. Having gone through this process myself many times as a consumer, I came to realize whether, or not I knew exactly what I wanted, working with an agent helped me reach my goals faster and much more efficiently. I have to admit I still did some searching on my own, but it was the Realtor that made it all happen.

Don’t be afraid to ask questions! Don’t be afraid to ask for what you need! Don’t be afraid to get help from a realtor early in your search. And, most of all don’t be afraid to change realtors if you aren’t happy with the service you are receiving. If you connect with the right Realtor you will know it right away! You should not feel pressured or annoyed, and instead should experience feelings of satisfaction and amazement at the amount of information provided to you in a very short period of time.

It truly is in the best interest of each and every buyer to find a good agent to assist with a property search and offer placement process. If the Real Estate broker you choose knows the market you are interested in well, she, or he can complete home searches easily and quickly, respond to your need in a timely manner and ultimately handle transactional details, should you decide to make an offer on a home, or property.

Working with a buyer's agent can be a very rewarding experience that saves the buyer both time and money. Something to keep in mind: All Real Estate brokers are not the same. Don’t assume every agent will give you the same service and possesses the same level of knowledge, commitment and experience. Do your homework and you’ll surely have an experience worth telling others about. A great realtor strives for this small, but meaningful act of gratitude!

Visit www.iWantABeachHome.com to view homes and land in Tillamook County on the Northern Oregon Coastline. Use the valuable MLS Search feature, but don’t hesitate to ask for help at any stage of your home search.

Thanks for stopping by! Stay informed by signing up to be notified of new postings.

Sincerely,

Wendy Stevens

Oregon Coast Statistics: Lincoln, Clatsop & Tillamook County

Here we go -- Let’s run the numbers!

Between Lincoln, Tillamook and Clatsop County, there are currently 1,771 residential properties actively listed for sale.

County to county, the statistics vary. Beginning in Lincoln County there are 878 residential listings, 383 have ocean views, 97 are oceanfront, and 51 homes are priced over $1 million. The highest priced active listing is $9.5 million located in Cloverdale, with views of Pacific City’s Haystack Rock.

Next in line, Tillamook County has 370 active residential listings. 80 of those have ocean views, 24 are oceanfront, and seven are priced $1 million or higher. 31 homes with ocean views are listed $400K and under. The highest priced homes in Tillamook County are $1.25 million and are located in Oceanside, Netarts and Manzanita.

Clatsop County, Oregon’s Northern most coastal county has 523 active residential listings. 111 homes have ocean views, 28 are oceanfront, and 34 are priced $1 million and above. The highest priced home in Clatsop County is $5,625,000 located in Cannon Beach.

There are 149 oceanfront properties for sale. With so many to choose from, those in the market for such are in a virtual candy store! The downturn in the market has created a stock pile of exceptional homes offering one-of-a kind architectural uniqueness and highly desirable locations. The opportunities to locate and purchase homes of this caliber have never been better. Everyone is feeling the pain of recession in one way or another - the positive light I have to shed on this situation is it’s bringing out the biggest and the best at the beach!

If you haven’t been out to the coast since summer, it’s time to come back down for a visit and take a look around. Prices have definitely dropped over the last six months. Many sellers have come to terms with realty and reduced their prices. They are more than ready to sell. Are we at the bottom? That fact we won’t know until prices start to climb back up! Get your Spring Break reservations set up now. Oregon Coast Real Estate is ready and waiting.