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Buying a Home

Buying A New Home or Real Estate In Oregon

Searching for Oregon homes for sale? Welcome to Coldwell Banker Pro West Real Estate, one of the premiere home buying resources in Oregon region. Here, you can research real estate, home listings and new homes in Oregon including townhomes, condos, custom homes, luxury homes, single-family homes, land for sale and more. Our aim is to make simple and convenient to find new homes, condos, townhomes and properties for sale in Medford, Ashland, Jacksonville, Central Point, Phoenix, Talent, Gold Hill, Eagle Point, Sams Valley and the Ruch areas. We feature thousands of Oregon home for sale listings with photos, descriptions, floor plans and pricing. You can find out about local communities, neighborhood amenities, schools and other details to help you make a well-informed decision about your new home purchase before you buy.

If you are planning to buy a home in Medford, Ashland, Central Point, Phoenix, Jacksonville, Gold Hill, Talent or Eagle Point area in Oregon, then Coldwell Banker Pro West Real Estate is the best place for you. We have the most complete index of real estate listings in Oregon region on the web to help you find a home for sale or get a sense of current property values in your area. Our listings include houses for sale, condos, new homes and commercial properties, apartments etc.

Finding the right home is a process that can be made easier by taking the right steps. Here are some essential things you can do to ease the Oregon home buying experience. Let us know if there is something specific you are looking for and we’ll find what you need. Enjoy your visit and please contact Coldwell Banker Pro West if there is anything we can do to make your next home buying experience the best it can be!

Home Buying Tips

4 Soothing Insights for Anxious First-Time Buyers

These anxiety-inducing predators range from the dangers of bad decisions, hidden home condition problems, and the other buyers who are bidding on your dream home.

As with a threat in the wild, anxiety can cause a normally calm home buyer to have a fight or flight response – making panicked decisions or freezing entirely up, both of which deprive you of your most deliberate, wise decision-making power.

If you’re experiencing low-grade anxiety around your first home purchase, that’s probably a sign that you take it seriously and that you understand the importance of the matter. But if your anxiety is rising to the level that it causes panic or paralysis, those reactions actually pose a bigger threat to your smart decision-making than any actual threat you’ll encounter in the wilds of the real estate market.

Here is a short list of truths about real estate that can soothe your first-time buyer anxiety down to a level at which it won’t foul up your decisions or your vision.

1. It’s only takes one
House hunting is daunting by dint of the sheer magnitude of the numbers involved: all the specs and characteristics of a home, all the decisions you have to make, all the documents you have to provide just to get pre-approved, all the homes on the market, and all the buyers you might have to bid against. (And of course, there are all those zeroes on the purchase price itself, probably more than were at the end of any other purchase you have ever made.)

But here’s a soothing number you can focus on: one. You only need to find one house that fits with your family, your future and your finances. And millions and millions of homebuyers before you have been able to do just that.  The challenge ahead of you is the highly do-able task of narrowing down all of those numbers to the one, the just right fit. If you find a home you love, but the sellers want dramatically more for it than you can afford or it turns out to have some fatal flaw, it’s not a panic-worthy disaster: it’s just not the one.

2. You are the boss of you
And you’re qualified for the job. Feeling like you’re at the mercy of the mortgage lender, your agent, the market or ‘your’ home’s seller is another serious source of home buying anxiety. But it’s an illusion. Do you have 100% control over every step of the home buying process’ No. But you have far more control at every step than you might think.

Among other ways you can be the boss of yourself and your first home purchase, you can and should:

  • Run your own personal budget and determine the maximum amount you can afford to spend on housing
  • Build your own team of advisers that work with and for you, including real estate and mortgage pros, but also a financial planner, lawyer and/or tax advisor,  if that’s what you need
  • Craft your own vision for your life after you buy your home, and use it as a tool to ensure you don’t buy a home you’ll regret later
  • Research neighborhoods, cities, even states and the various factors that impact their future prosperity prospects
  • Research the home buying process and ask questions (Trulia Voices is great for getting answers from local pros, but also from other local buyers who have gone before you)
  • Work with your agent to understand market dynamics like list price-to-sale price ratio, and tweak your home search price range accordingly, looking at homes priced below your top dollar to give you room to go up, if that’s the norm in your area
  • Work with you agent through your target home’s comparable sales
  • Work with your agent and your mortgage broker to understand the cash you’ll need up front, at closing and monthly, based on your final offer price for any given home
  • Attend your home inspections
  • Read seller and HOA disclosures
  • Read all the inspection reports and get follow-up inspections as needed
  • Get bids for repairs and upgrades before you remove contingencies
  • Request your loan docs in advance – and read them in advance
  • Ask every question you have and keep asking, until you understand
  • Back out of a transaction and recoup your deposit, if inspections or appraisals reveal serious issues, within your contingency period

So do these things. Remember that from the time you get the inspiration to buy a home until the time you close escrow, you are ultimately in charge. You make the final call on a home, on a price, and on when to remove contingencies and make the transaction a done deal. But you also have a great deal of control at every phase of your house hunt – so exercise it.

3.  Speaking up pays off.

No matter how timid or introverted you normally are, just for this experience of buying a home, embrace your inner advocate and make a commitment from the start to speak up for yourself freely and loudly.

Don’t understand something in your Good Faith Estimate’ Say so – and ask your mortgage broker for an explanation.

Worried about something you see in your HOA disclosures’ Tell your agent – and work with them to get clarification or additional information.

Have questions or concerns about things you see in the home while you’re attending the inspector’ Ask the inspector. And if they don’t know, ask the seller or get a specialist to come out and check it out.

Worried about how you’ll ever afford to fix the plumbing or deal with all the necessary repairs’ Say so, and work with your agent to make a wise decision about asking the seller to chip in or reduce the price, if that makes sense given the other details of your deal.

I once saw a buyer catch a very significant error in loan closing docs before anyone else in the room did. Instead of second-guessing herself or assuming she was the one in error, she spoke up – and probably saved herself thousands of dollars and hours of time in the process.

4. Almost no transaction goes precisely as planned.
I hate to use the cliche, but you will truly experience much less anxiety throughout the course of your transaction if you expect the unexpected. It might take you longer than expected to find a home that works for your life and your budget. You might end up spending thousands beyond what you started out thinking was your top dollar. Maybe your closing date will get pushed out for reasons beyond your control (and beyond the seller’s control, too). Or it’s possible that the home inspector will recommend an electrical inspection, which reveals some updating that urgently needs to happen (urgent, as in before you get those custom kitchen cabinets you were planning to have installed the day after closing).

It’s a very rare transaction in which everything comes off precisely as it was planned. Understanding this and being as flexible as possible will prevent the emotional roller-coaster of breath-holding, anger, outrage and complete lifestyle chaos that arises when first-time buyers expect every step of the transaction to happen with Swiss-watch precision.

Take a deep breath. Anxiety is a physiological response that’s hard-wired into every human being. It’s part of our instinctive reaction to sensing a threat in the wild — and the wild world of real estate is no exception. Stress can cause a normally calm home buyer to have a fight or flight response, leading to hasty decisions or freezing up entirely. Here’s a short list of real estate truths to help you preempt the panic.

What Features Home Buyers Are Willing to Pay Extra For
By Melissa Dittmann Tracey, REALTOR(R) Magazine

What are the two most common home features that home shoppers say they’re willing to spend extra for in order to have in a home?

Air conditioning and new kitchen appliances, according to the 2013 Home Features Survey by the National Association of REALTORS(R).

Sixty-nine percent of the buyers surveyed who did not purchase a home with air conditioning said they’d be willing to pay extra for it — on average, an extra $2,250 in order to have it, the survey found.

Home shoppers say having a home with new kitchen appliances is worth paying about $1,840 extra to have a home with it.

Air conditioning and new appliances were the most common responses in what home shoppers said they’d be willing to pay extra for. But some home shoppers showed willingness to pay higher amounts for a home with other features. For example, 42 percent of buyers said they’d be willing to pay an extra $5,020 for a home that was less than five years old. Thirty-two percent of buyers said they’d be willing to pay $5,420 extra for a home that was on the waterfront.

Buyers who did not purchase a home with a laundry room or a den/study/home office said they’d be willing to pay extra to have these: $1,590 and $1,920 extra, respectively.

And buyers said they’d also be willing to pay extra for a home with a basement and an in-law suite. Buyers said they’d be willing to pay an extra $3,200 for a home with a basement, and an average of $2,920 for a home with an in-law suite, according to the survey.

What are the two most common home features that home shoppers say they’re willing to spend extra for in order to have in a home?

Free First Time Home Buyer Classes (video)

Our First Time Home Buyer Classes are starting up again this Saturday, October 22 from 1-2.

Home Buyers Visiting Open Houses
The professionals at Coldwell Banker Pro West offer the following recommendations to buyers to make the most of the Open House season:

Open House Tips for the Buyer

Feet on the Street:
Real estate sales associates encourage their buyers to visit a significant number of open houses. Seeing different homes can give buyers a much better idea of exactly what they desire in a property, and help them understand how much home their money can buy.

Communicate With Your Sales Associate:
Buyers should agree upon a procedure with their sales associate before visiting open houses. Since real estate professional have access to numerous available homes, not only those with open houses, an open line of communication will enable him or her to understand which neighborhood, types of homes and even particular features are attractive to the buyer.

Take Copious Notes:
Homebuyers should take notes when attending open houses, especially when visiting multiple homes during the day. The notes, along with the marketing materials handed out at the open houses, will help the prospective buyers narrow down the list of homes that are of interest.

Be Patient:
Home buying is a process that usually involves negotiating. If a buyer attends an open house and likes the property, it is generally best to keep it to him- or herself. They should contact their sales associate later to schedule a private showing.

Coldwell Banker Pro West provides tips for home buyers visiting open houses.
Open houses are as important for home buyers as they are for the seller, as prospective buyers can assess and compare a large number of properties at once.

Caught in Between Buying and Selling?

Below are some tips from Coldwell Banker Pro West on how to close the gap between buying and selling a home:

Consider bridge loans.
A bridge loan means borrowing from the current home’s equity until the proceeds from its sale are obtained. Some bridge loans require that only the interest be repaid; others mandate a single payment of interest and principal when the loan needs to be paid back. If protracted, bridge loans can be expensive, so it is best to use them for overlaps of a short period of time between closings.

Buy on contingency.
Have a prior-sale contingency included in the purchase contract of the new home. It provides the opportunity to withdraw from an offer if the current home does not sell by a specific and agreed upon date.

Evaluate whether to buy or sell first.
You could still find yourself caught in between even with a prior-sale contingency clause. Home owners must consider which is better to do first. In a seller’s market, locating the new home and starting the buying process may be the best approach. It is important to note most people need to sell their current home to qualify for a loan to purchase the next one, which is often more expensive. In a buyer’s market, you should be aware of the time frame and the possibility of not being able to sell your current home quickly.

Review home equity options.
For those who need to borrow for a longer period than just a few months, it is best to use a home equity loan or a fixed-rate line of credit, particularly if sizable equity has been built up.

Trying to sell a home and buy one at the same time can be a challenging task. Many home buyers find themselves caught in a difficult position as they often cannot place an offer on a desired home and simultaneously sell their current one.

First Time Home Buyers Classes Offered

So you want to own your own home? It’s an incredible time to buy, interest rates and home prices are at an historic low!

This class will teach you the benefits of home ownership.

  • You will learn the steps to home ownership.
  • What escrow and title insurance are and how they protect you.
  • What to expect from your Real Estate Broker and how they work for you.
  • The Team-your Real Estate Broker, your Lender and your Title Officer.
  • Learn about the types of home loans and how they can best serve you.
  • Home inspections, appraisals, contingencies and agreements will all be explained.
  • How much money do you need for a down payment and closing costs?
  • What is a “short sale”, REO and foreclosure?

The classes are FREE! Held Saturdays, 1:00-2:00

Call 541-773-6868 to register

Learn the in’s and out’s of first time home buying.