How To Appeal Your Property Taxes

Over the years I’ve assisted many of my clients appeal their property taxes by providing them with comparable property data.  All the people I have helped thus far have won their appeals.  I appealed my own property taxes and the county ruled in my favor as well.  It is worth your time to go through this process as you might be the winner at the other end. 

Here is the information to appeal your property taxes in the three counties where I list and sell real estate:

Clackamas County Tax Appeal

Assessment & Taxation,

Phone: (503) 655-8671
Fax: (503) 655-8313
Address: 150 Beavercreek Road (Map)
Oregon City, OR 97045

Property Value Appeals

If you have questions regarding the values on your tax statement, the assessor’s staff will be available to discuss the values with you. If you desire, an appraiser will review your appraisal with you and answer any other questions you may have.

After your discussion with the assessor’s staff, if you feel the market value shown on your tax statement is too high, we encourage you to file an appeal with the Board of Property Tax Appeals (BOPTA)

• The time to file is October 25th through December 31st.
• State of Oregon Appeal Form
• Petition forms to file your appeal are available from the County Clerk
  The Clerk’s phone number is 503-655-8662
  They are located in the Public Service Building at 2051 Kaen Road, Oregon City.
• Application for Correction of Maximum Assessed Value Due to Error in Square Footage
  ORS 311.234
• Application for Proration of Property Taxes Due to Damage by Fire or Act of God /
  Application for Reassessment of Values Due to Fire or Act of God
  ORS 308.425 and 308.428
• Application for Reassessment of Destroyed or Damaged Property
  ORS 308.146(6)

You may also contact our office to receive a Petition Form to file your appeal.

If you have additional questions, you may contact our office at 503-655-8671 and ask for assistance with filing an appeal.

If you miss the above deadline, or you disagree with a prior year’s value, you may file an appeal with the Magistrate Division of the Oregon Tax Court. Appeal forms may be obtained by calling Oregon Tax Court, Magistrate Division, 503-986-5650. CERTAIN STANDARDS MUST BE MET TO HAVE APPEALS TO THE MAGISTRATE HEARD. All appeal forms are available in the Assessor’s Office or download an Information Circular from the State about the appeals process http://www.oregon.gov/DOR

Multnomah County Tax Appeal

Division of Assessment, Recording and Taxation

Types of Appeals

VALUE APPEALS If you disagree with the VALUE of your property as shown on your statement, you may file an appeal with your county Board of Property Tax Appeals. WHAT to Appeal: You are asking for a reduction of the value of your property. You can print petitions for real   or personal property or call the Board of Property Tax Appeals at (503) 988-3326 for information or a petition form. WHEN to Appeal: You must file your petition by December 31, 2009.

Washington County Tax Appeal

Washington County
Assessment & Taxation
155 N. First Avenue, Suite 130
Hillsboro, OR 97124

Phone: 503-846-8741

Property Tax Appeals

A property owner can appeal the valuation of the property to the local Board of Property Tax Appeals.  Petitions to the board must be filed between late October, when the tax statements are mailed, and December 31.  Petitions are filed in the office of the county clerk in the county where the property is located.  There is no fee for filing an appeal with the Board of Property Tax Appeals.
 
The Board of Property Tax Appeals also can hear appeals of penalties assessed for the late filing of real and personal property returns.  The board has jurisdiction to waive all or a portion of a penalty if the petitioner can prove there was good and sufficient cause for the late filing or for first-time non-filers.
 
Board hearings are informal, and the property owner is not required to have an attorney present.  The owner(s) can sign the petition to the board and represent themselves at the hearing or authorize certain other persons to sign the petition for them.  Those persons who can be authorized to sign a petition are explained on the petition form.  Hearings are scheduled sometime between the first Monday in February and April 15.  The clerk of the board will notify the petitioner of the time and place to appear.
 
Owners of industrial property appraised by the Oregon Department of Revenue may choose to file their appeals directly with the Magistrate Division of the Oregon Tax Court, rather than with the Board of Property Tax Appeals.  There is a fee for filing an appeal with the Magistrate Division. The deadline for filing an appeal with the Magistrate Division is also December 31.

If a property owner is not satisfied with the board’s decision regarding property value, the property owner may appeal to the Magistrate Division of the Oregon Tax Court. Magistrate decisions can be appealed to the Regular Division of the Tax Court. Decisions of the Regular Division of the Tax Court can be appealed to the Oregon Supreme Court.

ALL ABOUT…..Portland.Oregon.Real Estate, is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 Unported License. © Copyright 2008-2009 Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of federal copyright laws.  Based on a Blog at WordPress.

(For more local and national real estate information, go to www.bettyjung.com).
Portland

Buying Bank-Owned Property – Foreclosures=No Disclosures

The other day I wrote a post on property disclosures but wanted to expand that post in regards to bank-owned properties.  Our Oregon Association of Realtors® has this to say about ORS 105.465 and property disclosures:

In most cases, residential property sellers in Oregon must provide a Seller’s Property Disclosure Statement to each residential buyer who makes a written offer.  The form used by the seller is mandated by state law.  The seller’s representations regarding the property are based upon the seller’s actual knowledge at the time the disclosure statement is made and are not the representations of any financial institution that may have made or may make a loan pertaining to the property, or that may have a security interest in the property, or any real estate licensee engaged by the seller or buyer. Licensees are not responsible for misrepresentations by the seller unless they know of the misrepresentation and fail to disclose it. 

A buyer should carefully review the seller disclosures and verify, or ask their licensee to verify, any statements of concern.  REVIEW OF THE SELLER’S PROPERTY DISCLOSURE STATEMENT IS NO SUBSTITUTE FOR PROFESSIONAL INSPECTIONS. 

Here in Oregon, sellers may claim an exclusion and are not required to complete a property disclosure under ORS 105.470 only if they qualify under the statute in these instances:

• The first sale of a dwelling never occupied, provided that the seller provides the buyer with the following statement on or before the date the buyer is legally obligated to purchase the subject real property: “THIS HOME WAS CONSTRUCTED OR INSTALLED UNDER BUILDING OR INSTALLATION PERMIT(S) #___, ISSUED BY_____.”
• Sales by financial institutions that acquired the property as custodian, agent or trustee, or by foreclosure or deed in lieu of foreclosure.
• Receivers;
• Personal representatives;
• Trustees;
• Conservators; or
• Guardians.
• Sales or transfers by governmental agencies. [1993 c.547 §7; 1995 c.198 §1; 2003 c.328 §5]

From Phyllis Harb in Los Angeles come these interesting scenarios which are happening in our local Portland real estate market with bank-owned properties as well:

1)  A homeowner contacts their lender for a loan modification, they complete the necessary paperwork and to validate a lower value might provide the lender with information regarding the condition of their home.  The lender denies the loan modification; the homeowner loses their home through foreclosure.

The lender lists the home with a local Realtor© as a foreclosure. The new buyer moves in and was never informed of the former owner’s claims (or even written reports) regarding the condition of the home.

2)  A home is listed with a local Realtor© as a short sale.  A buyer is found and escrow is opened.  This buyer conducts a thorough inspection of the home.   After the inspection, the buyer asks for a credit and the inspection report is forwarded to the lender. The lender/seller refuses to renegotiate and the buyer does not complete the sale, the homeowner loses their home through foreclosure.  The new buyer moves in and was never informed of the written reports regarding the condition of the home.

3)  A homeowner has major damage to their home caused by fire, flooding, mudslide or ???.   Their insurance carrier pays a claim, and because the claim is over a specified dollar amount the check must also be endorsed by the homeowner and the lender.  The check is endorsed, the lender has a record of the claim.  The homeowner later loses their home in foreclosure. A new buyer moves in and was never informed of the written reports regarding the condition of the home.

Just be aware that the house you thought was a deal because it was a bank-owned foreclosure, may become the nightmare money-pit you never wanted or could afford and; ultimately, isn’t such a good deal afterall.

© Copyright 2008-2009 Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of federal copyright laws.

ALL ABOUT…..Portland.Oregon.Real Estate by Betty Jung is licensed under a Creative Commons Attribution 3.0 United States License.
Based on a Blog at WordPress.

(For more local and national real estate information, go to www.bettyjung.com).

City of Lake Oswego – Lake Floodplain Zones

With the Tsunamis, earthquakes, flooding throughout the world, and our chances of rain increasing daily here locally, I thought it might be a good idea for you to check your insurance policies regarding coverage for flooding if you live in Lake Oswego.

At the end of 2007, FEMA completed a study of the Lake Oswego area and gave the City of Lake Oswego until June 2008 to adopt maps and codes necessary to change the flood zoning for properties surrounding the Lake, canals, Tualatin River and Spring Creek.  The City’s map  includes the area along the Willamette River that was inundated by water during our floods in February 1996.  The new maps identify the areas as “Special Flood Hazard”  areas that have a 1% chance of flooding in any given year, or what is more commonly known as the 100-year floodplain.  These are also areas that are subject to what is known as a “base flood”.

More properties may need flood insurance.  Federally-backed home loans require flood insurance if the property is located within an area that could be subject to the base flood.  Although the new maps result in a higher base flood elevation, they also make it much easier to see if a house or other structure is actually located within the floodplain.  If a house is not within the floodplain, a property may file a letter of map amendment with FEMA.  If accepted, the letter would then eliminate the need for flood insurance.  Lenders and underwriters now are becoming increasingly more cautious when making home loans.

In the 1980s, I remember an underwriter questioning a house sale of mine with a Canal address in Lake Oswego.  The underwriter was requiring that the new buyer obtain flood insurance based merely on the address.  However, the house was perched high on a hill overlooking the canal and there was absolutely no way the house could ever get flooded.  Ultimately, we did succeed in getting that requirement waived.  However, I am sure there will be future situations like this occurring with the new stringent lending/appraisal requirements.  

Here are some issues as a result of those newer Lake Oswego changes:

• the value of property could be affected due to new elevation requirements
• you may be required to carry flood insurance even if it wasn’t required at the time of your original purchase or if you now refinance
• if a substantial remodel is planned, the entire structure will now be required to be at 104.5 feet elevation compared to the prior 103.5 feet
• new construction if it was built after 6/18/2008 will be required to be at that new 104.5 feet and subject to the new zones

If you are a buyer or seller of a lake or waterfront property, it is important you know about floodplains and insurance requirements.

© Copyright 2008-2009 Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of federal copyright laws.

ALL ABOUT…..Portland.Oregon.Real Estate by Betty Jung is licensed under a Creative Commons Attribution 3.0 United States License.
Based on a Blog at WordPress.

(For more local and national real estate information, go to www.bettyjung.com).

Portland Zip Codes With High Concentrates of Radon

The other day I received an email requesting further information on a blog post I wrote about radon back in January in N.E. Portland that has been called “Radon Ridge” by the media.

Her question to me was where in Northeast specifically were those areas.  Attached is a map showing those zip codes reported by Portland State University to show high concentrates of radon in our area.

Radon is a natural gas that causes lung cancer and is this nation’s second leading cause of death.  There are high levels of radon in an area that stretches from the St. John’s neighborhood in North Portland to the Rocky Butte area.  You will see from the map below that most of Clark County and Vancouver, Washington are also included in the study and report. 

When buying a house in Oregon it is essential, particularly in those areas, to have an inspection and radon testing done to determine the levels of radon present. 

© Copyright 2008-2009 Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of federal copyright laws.

ALL ABOUT…..Portland.Oregon.Real Estate by Betty Jung is licensed under a Creative Commons Attribution 3.0 United States License.
Based on a Blog at WordPress.

(For more local and national real estate information, go to www.bettyjung.com).

Always Disclose

One of the phrases we hear all the time at Re/Max equity group and one which is constantly repeated by our Managers and company attorney  is “When in doubt, disclose, disclose, disclose.  No one ever got sued for disclosing too much”.

Recently, I received a call on this subject from an owner in another city in Oregon. I indicated to him when I submit a property disclosure form to my sellers, I always tell them to be honest in what information they will be providing on the form. If there are any known deficiencies, they need to indicate those. If there is a “yes” to a question that needs an explanation, they need to explain the reason for, or if, something happened and how it was corrected. Never, however, do I want them to say something they’re not absolutely certain of.  I remember when the disclosure statement became mandatory and there had been an owner that said there was insulation in a certain wall. Upon opening up that wall for whatever reason by the new buyer, there was no insulation and a lawsuit ensued. In other words, if you’re not sure there is insulation in all the walls, don’t say there is in fact insulation in every single wall. However, if you know the alarm system isn’t working and you say unknown or N/A on the form, that’s not good enough. You’ll need to explain what the problem is, if it’s been repaired, or what the current condition of that system is, etc.

We Realtors® can never fill out the form for the seller or provide the seller with the correct answers. I can explain what information the question is asking for or is needed, but it is your responsibility as a home owner to complete all the information truthfully and to the best of your knowledge.  If a property sells then sale fails due to a deficiency in the condition of the house, when it comes back on the market a new disclosure needs to be completed by the seller and given to a new buyer disclosing that deficiency.  With houses being on the market for such a long time, in some cases up to a year, a new disclosure form needs to be completed during the time the house has been for sale and possibly vacant.  Conditions of the home may have changed within that year the house has been on the market.

Now comes word from our National Association of Realtors® that the number one complaint and lawsuit is because a home owner or agent did not properly disclose the correct information to a buyer.  Disputes involving disclosure of a property’s condition now exceed disputes over agency issues, a catchall classification that includes buyer representation and breach of fiduciary duty, and issues involving the federal law intended to protect consumers from being overcharged at closing comes in third.

Water intrusion and mold problems that often follow are a major issue. Disputes concerning structural defects are also extremely common. And issues concerning septic and sewer systems, misstatements about square footage and “as is” clauses also generate more than their fair share of legal problems.

Many of these disputes arise when the seller is a bank. The problem with water and mold is linked to the foreclosure crisis and has become a larger issue due to the number of houses not being maintained or sitting empty for long periods of time.

Recently I read there are new laws for landlords renting their properties.  One of those new disclosures is that landlords must disclose whether the rental is in a 100-year floodplain.  Just because you are renting out your property, doesn’t excuse you for making disclosures to a new tenant as well.

Disclosure is an important aspect of a successful real estate transaction for all involved.  If you have any questions on disclosure, seek the advice of a real estate attorney.

© Copyright 2008-2009 Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of federal copyright laws.

ALL ABOUT…..Portland.Oregon.Real Estate by Betty Jung is licensed under a Creative Commons Attribution 3.0 United States License.
Based on a Blog at WordPress.

(For more local and national real estate information, go to www.bettyjung.com).

Are You A Customer Or Client Of A Portland Real Estate Agent?

These days real estate is challenging – with new laws hitting us almost daily with more to come, with new financing terms, with several players all involved in a transaction, it is a maze that sellers and buyers walk through.  A knowledgeable, experienced and educated Realtor® knows market conditions, knows financing, and keeps tabs on all the new laws and regulations to assist you. 

You’ve decided to buy a house, so then do you become a customer or a client of a Portland Realtor®? You might think both words mean the same and are interchangeable.  However, when it comes to representation in a real estate transaction, they are two different types of relationships that we as Realtors® are legally required and able to provide. 

The short and simple version is that it comes down to the type of agency relationship you have with your real estate agent/brokerage and whether there has been disclosure and a signed agreement.   There are other types of agency relationships, but I am only including the basic and most common types of agency we as Realtors® enter into here in Portland.  The National Association of REALTORS® Code of Ethics requires Realtors® disclose whether they represent the buyer, the seller, or both parties. Laws governing the method and timing of the disclosure can vary in each state.

CLIENT

There are several ways, as a buyer or seller, in which you become a client of a real estate agent/brokerage.  Most have to do with the type of agency agreement you have entered into with your Realtor® which dictates the kind of representation you will receive in a transaction.  Laws and relationships vary state-by-state.  There are other types of agency relationships, but I am writing this post based on the most typical scenarios:

• Seller’s agent or listing agent. A seller’s representative is hired by and represents the best interests of a seller. The relationship usually is created by a signed listing contract or listing agreement.  The agent/brokerage represents the seller only.
• Buyer’s  agent.This type of real estate agent is hired by prospective buyers to represent them in a real estate transaction. A buyer’s rep (more commonly called a buyer’s agent) works in the buyers’ best interest throughout the transaction. The buyers can pay the agent directly through a negotiated fee, or the buyers’ agent may be paid by the seller or by a commission split with another agent, i.e. the listing broker.  In Oregon, we have a Buyer Broker agreement, similar to a listing agreement where we  “list” you as a buyer and you are a client.  Our agency relationship and representation is spelled out in the Buyer Broker Agreement and must be signed by all parties.  The agent represents the buyer only.
• Dual agent.  I recently wrote a post about dual agency . Dual agency relationships occur not only when one agent represents two parties but also when two agents from the same company represent two parties in the transaction.  As indicated in my previous post, Re/Max equity group, inc. discourages us agents from becoming dual agents. Dual agency is not allowed in some states, but where permitted, it must be disclosed to both buyer and seller, who must both sign a consent to a dual agency relationship and it is legal.

CUSTOMER

• There is no agency contract, agreement or representation owed by an agent to a customer nor is there any obligation by the customer to the agent.  No buyer broker agreements or listing agreements are signed and executed.  There is no representation to a customer in a real estate transaction and the agent is not under any obligation to provide that representation to you.

The duties and responsibilities for all of the above are posted in our Oregon Real Estate Agency Brochure that is linked on my left side bar in this blog or you can read it here.  And, as stated, since this post is based on Oregon rules and regulations, they can vary from state-to-state.  If you want full representation in all real estate related transactions, become a client rather than a customer of that Realtor® and their brokerage.

For any further assistance regarding disclosure or questions, please consult with a Real Estate Attorney.

© Copyright 2008-2009 Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of federal copyright laws.

ALL ABOUT…..Portland.Oregon.Real Estate by Betty Jung is licensed under a Creative Commons Attribution 3.0 United States License.
Based on a Blog at WordPress.

(For more local and national real estate information, go to www.bettyjung.com).

New Property Disclosure Law Re: Wood Stoves/Inserts in Oregon – SB 102

Effective January 2010, there is a new law that will take affect to prohibit the use of wood stove inserts in fireplaces.  Although this law will be in force in January, experts say it won’t be put into use until possibly August 2010.  There will be a new provision on the seller’s property disclosure for the owner to indicate whether there is a certified device that meets emission performance standards, certification labeling standards and all other requirements.

SB 102:

“Extends air quality provisions relating to emissions from woodstoves to solid fuel burning devices.  Modifies provisions relating to sale of solid fuel burning devices. Defines “solid fuel burning  device.” Prohibits burning of certain materials in solid fuel burning devices, masonry fireplaces or trash burners.  Renames Residential Wood Heating Air Quality Improvement Fund to Residential Solid Fuel  Heating Air Quality Improvement Fund. Modifies certain aspects of fund.  Modifies prohibition on installation of used solid fuel burning devices. Modifies prohibition on sale of used solid fuel burning devices. Modifies provisions relating to removal of solid fuel burning devices. Modifies requirements for solid fuel heating curtailment program.
Adds questions regarding woodstoves and fireplace inserts to seller in the property disclosure statement”

Although there is nothing in place to monitor this new law by DEQ as yet, my understanding is that the device will have to be removed by the seller or the buyer prior to closing.  There is no allowance for a buyer to accept the unit “as is” and it is required by SB 102 that it be removed.

I’m sure we will be hearing more about this new law in the upcoming months.  Whether you are a buyer or seller, you will need to know the ramifications of this new law.  If you have any questions, let me help.  I’d love to represent you as your Realtor®.

© Copyright 2008-2009 Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of federal copyright laws.

ALL ABOUT…..Portland.Oregon.Real Estate by Betty Jung is licensed under a Creative Commons Attribution 3.0 United States License.
Based on a Blog at WordPress.

(For more local and national real estate information, go to www.bettyjung.com).

Crossing A Sign

You’ve just purchased a house.  Mid-way through your transaction, or possibly after you have closed, you have problems. While I really appreciate people reading my blog, please don’t call expecting advice from me or expecting me to solve whatever problem you now have. You see, we in the real estate business call that “crossing a sign“. I am not a party to your transaction, nor did you hire me to represent you, and I can’t get involved.

Recently I received such a call. I don’t know all the details but what I do know is that it was a structural problem. The inspector noted the deficiency in the report but never verbally addressed what he found.  As a buyer, regardless if you are represented by a Realtor® or not, you still have a responsibility to not only read the report but question anything and everything in that report.  That is exactly what the inspection time period is for.  Part of the problem with the housing crisis is buyers saying they didn’t read all the fine print in the mortgage documents and didn’t understand their loan. You must still do your due diligence during your purchase and read all the paperwork.

Please don’t ask me to fix your problem when you didn’t hire me in the first place. It isn’t that I wouldn’t like to help, however, not only do I not know all the particulars of your transaction, but there are lots of rules and regulations prohibiting me from becoming involved by advising you or helping you when I’m not the agent representing you.  I’d really love it if you’d hire me to be your Realtor® to represent you instead.

ALL ABOUT…..Portland.Oregon.Real Estate, is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 Unported License. © Copyright 2008-2009 Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of federal copyright laws.  Based on a Blog at WordPress.

(For more local and national real estate information, go to www.bettyjung.com).

What Is Dual Agency?

What is Dual Agency?    In Oregon, dual agency means that a real property transaction in which the representation of a buyer and seller, or the representation of two or more buyers, occurs within the same real estate brokerage.   One example is I can represent both a buyer and seller in a transaction, although Re/Max Equity Group, inc. discourages us from doing so.

 

Is Dual Agency Legal?

Yes.  The latest information I have is that 33 states allow dual agency while only eight have said they will not. Licensing requirements vary by state with requirements ranging from registration to classes and tests. Dual Agency states are indicated below with a star *.

Dual Agency States
Alabama	Idaho*	Minnesota*	Oklahoma	Texas
California*	Illinois*	Mississippi*	Oregon*	Vermont*
Colorado	Iowa*	Missouri	Pennsylvania*	Washington, DC*
	Kansas*	Montana	South Carolina	West Virginia
Florida	Kentucky*	New Mexico	South Dakota	Wisconsin*
Georgia	Michigan	North Dakota	Tennessee*	Wyoming

As you can see, Realtors® in Oregon are permitted to involve themselves as dual agents representing both buyers and sellers, as permitted by our Oregon State Real Estate Agency.  There is an agency disclosure we provide to both buyers and sellers in a transaction disclosing this fact.  Here is the link to our agency disclosures.

Typically, however, a Realtor® will only be representing one side or the other – either a buyer, or a seller.

ALL ABOUT…..Portland.Oregon.Real Estate, is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 Unported License. © Copyright 2008-2009 Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of federal copyright laws.  Based on a Blog at WordPress.

(For more local and national real estate information, go to www.bettyjung.com).

Disclosing Former Drug Houses

Many people are buying foreclosures and perhaps don’t know whether or not those houses at one time had been drug labs.  In addition, meth use is on the rise in Oregon despite efforts to keep needed supplies behind the counter and locked.

A while ago, I attended a meeting conducted by the Oregon Department of Human Services about meth labs in Oregon.  Most meth labs are in rental properties, hotel and motel rooms, and portable meth labs can be in cars.  The cost to clean up an average 2 bedroom, 2 bath 1000 sq. ft. house can cost easily between $6700-7500.

Courtesy of dark_kasdachnah

Here are some actions you can take to protect a rental property:

Before Renting Your Property

• Make sure any rental application you receive is completed.
• Conduct a complete background check for each adult including their rental history, employment history, credit report and perform a criminal background check.
• Meet every adult and require picture identification
• Pay attention to appearance and behaviors.
• Your rental agreement should address illegal activity and the tenant’s responsibility for conduct on your property

After Renting Your Property

• Visit your property often
• Talk with neighbors and ask them to contact you with concerns
• Be aware of possible drug lab indicators such as:  excessive garbage, red stains in the kitchen and/or bathrooms, increased activity – especially at night, paranoid or odd behavior, blacked out windows, excessive home security, chemical odors, complaints from neighbors.

The Cost of Clean-up

As a property owner here in Oregon, you are responsible for the cost of clean-up of an illegal drug lab.  In addition, there may be loss of revenue, property damage, decreased property value, dangerous tenants, liability and loss of respect from neighbors.  DO NOT enter the property if you suspect a drug lab, call the police.

Before you Sell Your Property, Clean-up and Disclosure of a Drug Lab

Our Property Disclosure in Oregon requires a seller to disclose whether the property has ever been used as an illegal drug site.  In addition, a “Certificate of Fitness” will be required when you decide to sell that property.

Here is DEQ’s website for information on meth clean-up requirements and how to obtain the “Certificate of Fitness” from the State of Oregon.

Recently, ABC News ran a story about a little girl who became quite ill at a home her parents purchased not knowing the house had been a former drug lab.  Some states don’t require disclosure of that fact, but Oregon does.  Also, at the meeting I attended, even though DEQ provides a Certificate of Fitness and even if the property has been cleaned up, DEQ stated that meth never does completely go away.

© Copyright 2008-2009 Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of federal copyright laws.

ALL ABOUT…..Portland.Oregon.Real Estate by Betty Jung is licensed under a Creative Commons Attribution 3.0 United States License.
Based on a Blog at WordPress.

(For more local and national real estate information, go to www.bettyjung.com).

“AS IS” And What It Means

Picture Courtesy Melina Tomson

On many listings you see the comment “AS IS”. I’ve known sellers to think it means they have no obligation and that they aren’t responsible for any repairs or disclosure as to defects.  Sellers often are upset when buyers continue to have a full home inspection and later ask for repairs.

You see “AS IS” mentioned many times on “fixer upper” properties, when sellers have no money to do any repairs, or when sellers don’t want to assume any responsibility.  Many times when there’s a divorce, job loss, short sale, bank-owned, sometimes relocation properties, etc. you also see it in the listing agreement.

What do the sellers mean or actually what does it really mean here in Oregon?

“As-is” does not prohibit a buyer from requesting repairs (or some other contract modification).

“As-is” means that, when the transaction closes, the buyer acquires the property in whatever condition it is in, and the buyer accepts the property with all faults, whether or not the faults are apparent.  Of course, “as-is” does not eliminate any obligation on the seller’s part to disclose the property’s condition.  In other words, the as-is clause won’t apply if the seller had an obligation to disclose, knew about the defects and didn’t disclose them. And the language in the earnest money sales agreement such as “Seller will make no repairs” does not prohibit a buyer from requesting repairs.

There are many different ways to negotiate and complete repairs.  A knowledgeable and experienced Realtor® knows how to do just that.

ALL ABOUT…..Portland.Oregon.Real Estate, is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 Unported License. © Copyright 2008-2009 Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of federal copyright laws.  Based on a Blog at WordPress.

(For more local and national real estate information, go to www.bettyjung.com).

 

Don’t Assume Anything

Under the provisions of our Oregon Real Estate earnest money agreement, personal property is excluded from a listing unless it is noted as included.  What is considered personal property?  If it isn’t a permanent, attached fixture it is considered personal property here in Oregon. However, usually in the listing agreement, a Realtor® will exclude what those items are such as a hot tub, refrigerator, microwave if it isn’t attached, washer and dryer etc.  Buyers shouldn’t assume that all the items seen in the house are included. When buying a home if you want that refrigerator included in with your purchase price, or if you want to buy the refrigerator direct from the seller, all that needs to be noted in your offer (earnest money agreement).  Further, sellers have been known to switch out appliances taking the one from the garage and leaving it instead of the good one from the kitchen.  It’s always a great idea to include a description and the make, model and serial number of the appliance you want included in your purchase.

Years ago I had a listing in West Portland that had a Buddha statue on the front steps.  It was shown in the picture on the flyer.  In my listing agreement and on the offer that came in I excluded that Buddha statue.  Years later, the new owner requested he receive that Buddha because he had come across the flyer in his files and saw he hadn’t received it with his purchase.  I pulled the listing agreement along with the earnest money agreement he made and found his Realtor® had not included the Buddha with the purchase.  Had he wanted that statue, his Realtor® needed to have included that in his offer for the seller to decide whether he wanted to include it or not.  Since the buyer’s offer hadn’t been written that way and it had been excluded, he didn’t get the statue.  Another time I had a Realtor® call me who sold a listing of mine in King City asking what happened to the microwave.  His buyer moved in and there was no microwave.  Again, it was a free-standing appliance and was considered personal property.  He had not written into the agreement that this item be included in the sale so he wound up buying his client a new microwave.

As a seller you want to take that rose bush in the garden that your Aunt Molly gave you.  You dig it up and take it with you to your new home.  A buyer moves in and there is no rose bush.  Inasmuch as it wasn’t excluded from the listing or subsequent offer, along with a tag on the bush indicating it was excluded, you could owe that buyer a new rose bush.  And that attached shelving in the garage, you decide at the last minute to take that with you also.  Inasmuch as it was attached and a permanent fixture, you needed to indicate that you were taking it and exclude it from the sale.  You now owe that new buyer the shelving that was attached and fixed in the garage.

The Realtor® representing you should indicate everything in an offer that you expect to be left on the property at the time of closing and transfer of the deed.  Many times I have had sellers leave garden hoses, empty flower pots, cleaning supplies, etc.  If a buyer didn’t request all that or want it and didn’t write it into the offer, you need to remove it and have your home “broom clean” at the time of closing.  There have many times I have had to load up my car with the seller’s junk that was left behind because they were unable financially or physically to remove it or because they lived in another country or out of state and couldn’t afford to have it hauled off.  As a buyer if you want it, include it in the offer you make.  When in doubt, always write it into your sales agreement.

© Copyright 2008-2009 Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of federal copyright laws.

ALL ABOUT…..Portland.Oregon.Real Estate by Betty Jung is licensed under a Creative Commons Attribution 3.0 United States License.
Based on a Blog at WordPress.

(For more local and national real estate information, go to www.bettyjung.com).

The Best Neighborhoods and Schools in Portland, Oregon

Typically when prospective buyers move into Portland, the first question I am usually asked is where should they move?  Where are the best neighborhoods?  The best schools?  Sorry to disappoint you but this post can’t provide you with that information.

Summer brings families itching to move and have the kids settled before fall for the upcoming school year.  You’re most likely looking to your Realtor® to provide you with lots of information to help you.  If you’re moving into a new state or city, or just moving across town, the Fair Housing Law and Code of Ethics we Realtors® subscribe to prohibits us from steering people “away from or toward a certain neighborhood based on race, color or other protected categories”.  It’s not an Oregon law or rule, it’s a National law. All Realtors® across the U.S. need to follow that law.

The Fair Housing Law , however, governs all of us and not just Realtors®.  If you own property with the intent to sell or rent you also have to abide by the law:

“Title VIII of the Civil Rights Act of 1968 (Fair Housing Act), as amended, prohibits discrimination in the sale, rental, and financing of dwellings, and in other housing-related transactions, based on race, color, national origin, religion, sex, familial status (including children under the age of 18 living with parents or legal custodians, pregnant women, and people securing custody of children under the age of 18), and handicap (disability).

What Is Prohibited?

In the Sale and Rental of Housing: No one may take any of the following actions based on race, color, national origin, religion, sex, familial status or handicap:

• Refuse to rent or sell housing
• Refuse to negotiate for housing
• Make housing unavailable
• Deny a dwelling
• Set different terms, conditions or privileges for sale or rental of a dwelling
• Provide different housing services or facilities
• Falsely deny that housing is available for inspection, sale, or rental
• For profit, persuade owners to sell or rent (blockbusting) or
• Deny anyone access to or membership in a facility or service (such as a multiple listing service) related to the sale or rental of housing.

In Mortgage Lending: No one may take any of the following actions based on race, color, national origin, religion, sex, familial status or handicap (disability):

• Refuse to make a mortgage loan
• Refuse to provide information regarding loans
• Impose different terms or conditions on a loan, such as different interest rates, points, or fees
• Discriminate in appraising property
• Refuse to purchase a loan or
• Set different terms or conditions for purchasing a loan.

In Addition: It is illegal for anyone to:

Threaten, coerce, intimidate or interfere with anyone exercising a fair housing right or assisting others who exercise that right Advertise or make any statement that indicates a limitation or preference based on race, color, national origin, religion, sex, familial status, or handicap. This prohibition against discriminatory advertising applies to single-family and owner-occupied housing that is otherwise exempt from the Fair Housing Act.

The school websites my blog covers are posted on the sidebar for you to check the particulars you are looking for.  Better yet, schedule an appointment to visit the schools you are interested in.  The boundaries for each school are listed on their websites.  If there are certain parks or swim centers you’re interested in, again I have the different municipalities posted on my blog for you to view their websites.  Do you want to know about the crime rate or demographics of an area, the local police or the Census Bureau can provide you with the racial, ethnic, income breakdowns and crime stats.  If you don’t think you’re governed by this law, it would be a good idea for you to become familiar with it.

Next time you ask for information to help you find your dream community from your local Realtor®, just know what you want is illegal and we’re not trying to be rude or evasive, we just can’t provide you with that information and are adhering to the law.

© Copyright 2008-2009 Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of federal copyright laws.

ALL ABOUT…..Portland.Oregon.Real Estate by Betty Jung is licensed under a Creative Commons Attribution 3.0 United States License.
Based on a Blog at WordPress.

(For more local and national real estate information, go to www.bettyjung.com).

10 Tips to Prepare for a Home Inspection

Many clients of mine don’t know what to expect on “inspection” day so I go over the following items on this list.  Here are ten tips to make the home inspection experience easier for you:

IF YOU ARE THE SELLER:

• Make sure you set aside the time.  A home inspection typically takes 2-3 hours (or can in some cases take longer) and it is better if you, the seller, are not present as the buyer is paying for the inspection and is entitled to this time period to check your home.
• Don’t be upset by all the writing.  If and when you get the inspection report, don’t be upset by all that writing as it isn’t all negative.  A good inspector will make comments about lots of things relating to your house and some of it may just be general information.
• Clear the way.  The inspection will go more smoothly if you clear away personal items on top of the access to the crawl space, electrical panel, water heater, pipes under the sink, etc.
• Look for the obvious.  If you know of any derogatory conditions, correct them before the inspection as the report will be more positive.
• Let the inspector do his or her work.  Again, please vacate your home so the inspector can do his or her job.
• Make sure all the utilities are on.  Many times I have had home inspections scheduled and even though a reminder had been given, utilities are shut off and a complete home inspection cannot be performed.

IF YOU ARE THE BUYER:

• Don’t be upset by all the writing.  Again a good report will list items which are not considered to be failures, but may just be cosmetic due to normal aging or issues relating to a change in construction codes.  Many items will be listed as minor maintenance issues and not major defects.
• Let the inspector follow his or her own routine.   You may be interested in making sure the inspector checks out a certain item. Know that the inspector will get there and will discuss the issue with you.  If you alter the inspector’s routine, something may be missed due to the distraction.
• The inspector is not a psychic.  Items which are hidden are just that.  The inspector is not allowed to dismantle anything or do anything other than minor sounding and probing that does not damage any surfaces.  The inspection is by definition a “visual” inspection, but the inspector doesn’t have x-ray vision.
• The inspection is a general inspection. This means the inspection is not technically exhaustive in any single area.  An exhaustive inspection should be conducted by a specialist in certain areas such as a structural engineer, electrical contractor, plumber, roofer, etc. If you are concerned about any specific items that a specialist would be required to look at, you should note and request those inspections in advance when writing your offer.

A home inspector can be one of your best allies when it comes to consumer protection.  For more information about home inspections and the standards of practice they must adhere to here in Oregon, visit the Contractor’s Construction Board’s website at www.ccb.state.or.us.  As a buyer, you might want to check the CCB website to see if the inspector has had any claims against him/her and if their license is in good order.

It is my “standard” policy to always recommend a full-home inspection along with other specific inspections to my buyers whether it is a new home or a resale. This is the best investment you can make when purchasing your house.

© Copyright Betty Jung 2008-2009 All Rights Reserved.  Use of this article, photos and images without permission is a violation of federal copyright laws.

(For more national and local real estate information, go to my website at www.bettyjung.com)

“Rule of Thumb” for Earnest Money Deposits

I’m asked what the appropriate amount for an earnest money deposit is every time I write an offer.  Buyers always want to know how much of an earnest money deposit is deemed appropriate.  Unfortunately, I am not allowed or permitted to tell you how much of a deposit you should make.

However, recently, our monthly Realtor’s™ trade publication had an article written by a local real estate attorney, Phil Querin.  The following is part of what he wrote:

“The amount of earnest money (deposit) should not be just ‘any amount’ but a ‘reasonable forecast of just compensation for harm caused to the seller if, (you) the purchaser fails to perform.  The amount of earnest money should bear some relationship to the seller’s forecast of anticipated damages.  It doesn’t have to be dead-on right, but it has to be a genuine effort.  No formulas, no rules of thumb , no standard practices – just a good faith estimate.  It all depends on whether the figure represents – at the start of the transaction – a good faith liquidated amount based upon anticipated damages.”

“For example, if the seller anticipates selling their home, moving across (the) country to a new job, paying thousands of dollars in deposits on a new home, and absorbing significant expenses to move, the amount of earnest money asked by the seller should reflect what damages they believe (they) might incur should you, the purchaser, default at the last minute…in order words, a sum sufficient to ‘make the seller whole’.

If we as Realtors® suggest to the purchaser that they can “submit any amount (they) want to”, implies that you, the purchaser, and not the seller sets the figure and that amount can be just pulled out of the air.  If when purchasing you offer too little in the form of an earnest money deposit, the seller could make a counter offer, and paying too much implies that the sum is a “penalty” for your non-performance should that be the case.  Should you forfeit that earnest money deposit for reasons other than what are stated as conditions or contingencies in the earnest money agreement, the result is that any forfeited deposit monies will remain in an escrow account while all parties litigate over the release of it.

In summation, the amount of earnest money deposit is the amount that is agreed upon that represents a legitimate pre-estimate of the seller’s damage should you default.

Obviously, this could vary from state-to-state.  Any further questions, please consult a real estate attorney.

© Copyright 2008-2009 Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of federal copyright laws.

ALL ABOUT…..Portland.Oregon.Real Estate by Betty Jung is licensed under a Creative Commons Attribution 3.0 United States License.
Based on a Blog at WordPress.

(For more local and national real estate information, go to www.bettyjung.com).

Topping it Off – The Roof Inspection

Oregon is certainly known for its rain. One of the by-products of all that rain is moss on our roofs. Without maintaining your roof, and removing the moss, the life-span of a roof gets shortened.  Check your roof for wear and tear regularly so that you don’t end up with a serious roofing problem that has to be dealt with in the middle of winter, for example.  It is difficult to fix a roof when it’s raining or snowing.

Now might be a good time to do some maintenance or at the very least have an inspection of your roof.  I have a standing contract with a roofer who checks my shake roof twice yearly (spring and fall) and maintains it for me.  As a result of this continuous maintenance, I should be able to get many more years of life from my roof.  Here in Oregon, many times buyers will ask the sellers to have a roof certification  prepared by a licensed and bonded roofer certifying 3-5 years life remaining on the roof.

Some signs that your roof is in need of repair include the following:  shingle problems (curling, splitting, missing, broken, etc), loose nails, sagging areas, gritty granules in the rain gutters, rusty or buckling flashing.

In Oregon, we have an inspection addendum identifying which inspections a buyer is requesting. It’s typical and encouraged that a buyer have a full-home inspection plus any additional inspections where there may be concerns or questions.  If these inspections aren’t indicated at the time a buyer writes an offer, the buyer during his full-home inspection, can’t in mid-stream then request any additional inspections.  All inspections have to be requested up-front regardless if the buyer proceeds with that particular inspection or not. 

When purchasing a house, I always recommend to my buyers they have a roof inspection plus all the other inspections.  Depending upon how old the roof is, or even if it’s a newer roof that might not have been installed properly, this is a good idea.  As a listing agent, one of the first things I ask a seller is how old the roof is and recommend they get an inspection with a roof certification prior to placing their home on the market for sale.  If I am representing buyers, I always recommend they have a roof inspection performed by a licensed and bonded roofer.

Never underestimate how much a roof can impact a sale. If the roof is not up to par, some buyers will walk away or turn the roof into a major sticking point of negotiations. On the other hand, a beautiful roof can give potential buyers all the reason they need to make a competitive offer. And that’s precisely why you need to know about roofs and in particular the condition of yours.

The longevity of roofing material is somewhat dependent on the climate, so estimates of lifespans are usually approximate and also depend on whether the material is properly installed or not.

Use of this article, photos and images without permission is a violation of federal copyright laws. (Copyright applies fully and automatically to any work — a photograph, a song, a web page, an article, pretty much any form of expression — the moment it is created. This means that if you want to copy and re-use a creative work in another way (flyer, newsletter or other print media), that you find online, you have to ask the author’s permission to re-use their information.)

© Copyright 2008-2009 Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of federal copyright laws.

ALL ABOUT…..Portland.Oregon.Real Estate by Betty Jung is licensed under a Creative Commons Attribution 3.0 United States License.
Based on a Blog at WordPress.

(For more local and national real estate information, go to www.bettyjung.com).

New Appraisal Standards

***Update 12:40 a.m. 1/12/09 per Yahoo!®  Finance here’s what the Stimulus Plan does/doesn’t include:

A $15,000 tax credit for anybody buying a home over the next year was dropped; instead, first-time homebuyers could claim an $8,000 credit for homes bought by the end of August the year. (Stimulus bill keeps changing!)***

NEW APPRAISAL STANDARDS

The appraisal industry has justifiably come under fire for its role in the great housing bust. Property appraisals, required by lenders before a loan is made, are supposed to provide an independent assessment of the home’s value. But during the boom, appraisers routinely signed off on doubling or tripling home values, sometimes racked up in just a matter of months. Investment properties were appraised at prices that made no investment sense and homeowners were charged a pretty penny for what often amounted to rubber-stamp service.

Years ago, I can’t remember which recession it happened in, an appraisal had been done on a house in Portland.  Problem was there was no house as it had burned down and the bank had loaned not on a house, but on a vacant lot without ever checking. The appraiser responsible went to jail.  Appraisal standards tightened only to become less stringent again as the housing boom hit. BusinessWeek had a recent article indicating appraisers who worked for CitiGroup have come under fire for inflating their values during the boom and now CitiGroup is watching closely as to who is on their “approved appraiser” list.

Because of situations like the above, the industry is about to undergo a shakeup. On Jan. 9, Fannie Mae and Freddie Mac announced revisions to their Home Valuation Code of Conduct. Starting May 1, lenders that want to sell their loans to the two industry giants must follow the new guidelines. Mortgage brokers and Realtors® will no longer be able to choose appraisers. They will be selected by lenders, which are not allowed to influence appraisers by withholding payments or promising future work. If lenders have in-house appraisers, the bank’s loan-origination department is not allowed to influence their valuation decisions or supervise their work.

• Here’s Fannie Mae’s Valuation Code and Freddie Mac Valuation Code.

The other day I had a conversation with a local mortgage broker in town.  The broker indicated that appraisals on refis are coming in extremely low.  In one case, a home owner wanted to refinance his house and the appraisal came in 20% lower than what he paid for it in 2005.

Use of this article, photos and images without permission is a violation of federal copyright laws.

(For more national or local real estate information, go to my website at www.bettyjung.com).

Radon Ridge

The Environmental Protection Agency (EPA) designated January as National Radon Action Month, when state radon programs and other partners conducted special radon outreach activities and events across the country. The aim of National Radon Action Month is to increase the public’s awareness of radon, promote radon testing and mitigation, and advance the use of radon-resistant new construction practices.

Radon is a cancer-causing natural radioactive gas that you can’t see, smell or taste.  Its presence in your home can pose a danger to your family’s health.  Radon is the leading cause of lung cancer among non-smokers and is the second leading cause of lung cancer in America and claims about 20,000 lives annually.

In Oregon,  a radon inspection is optional when purchasing a home. There’s an area in NE Portland that has been dubbed “radon ridge” by the local media that has a high incidence of radon.

Here’s radon information from the Department of Environmental Quality here in Oregon. It has what radon is, how to test for it, etc.  There’s also a coupon you can download from this website to purchase a test kit.

There are probably unknown causes of many illness we have and we are only now finding out about them.  It was recently reported on the news that radon is released from granite countertops as well, although that industry says it does no harm.

Here’s the information from the DEQ website about radon from granite countertops:

Based on existing studies, most types of granite used in countertops and other aspects of home construction are not typically known to be major contributors of radiation and radon in the average home.

Granite is an igneous rock, meaning that it was formed by the cooling of molten rock. As it cooled, minerals in the rock formed crystals. Uranium, radium, and thorium occur naturally in a wide number of minerals that appear as crystals in granites from around the world. Some granites are more radioactive than others, depending on the composition of the molten rock from which they formed.

The radium and thorium in the granite can decay into radon, a colorless, odorless, radioactive gas, which may be released from the granite over time. However, since the matrix of the granite is generally not very porous, the radon is less likely to escape from the granite than from a more porous stone such as sandstone.

We are not aware of any radiation associated with soapstone, which is a metamorphic rock [igneous or sedimentary rock that has been altered by heat and temperature: marble is another kind of metamorphic rock, which originally was limestone.

I’ve written two posts (here’s Part 1) about lead poisoning and the effects of lead in our system.  There was new information that surfaced  in Part 2 of my post that some of the homes built in the 1980s in certain areas have lead and not just in homes built prior to 1978. It’s good to know about all these new health discoveries so we can protect ourselves and our families.

© Copyright 2008-2009 Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of federal copyright laws.

ALL ABOUT…..Portland.Oregon.Real Estate by Betty Jung is licensed under a Creative Commons Attribution 3.0 United States License.
Based on a Blog at WordPress.

(For more local and national real estate information, go to www.bettyjung.com).

Clearing Up Misconceptions

Advertisers want the customer to buy into their ads.  Most ads are to “bait and switch” you into buying something else.  There is lots of money spent so that you perceive a situation the way the advertiser wants you to view them or their product.  Many ads require that you dig a little deeper to find out what the message really is. Sometimes, the situation isn’t what is true or real at all; or at the very least, may be misleading.

Likewise with real estate ads.  When a real estate agent advertises themselves in a certain way that doesn’t necessarily mean that’s what the situation really is.  For example, if a real estate agent advertises they are a buyer’s agent, the general public might believe only that Realtor® is a buyer’s agent when in fact all licensed real estate agents in Oregon can be a buyer’s agent.

Since I can only speak as a Realtor® here in Oregon, here is what licensed real estate agents in Oregon can do:

• An Oregon licensed real estate agent can be a buyer’s agent
• An Oregon licensed real estate agent can be a seller’s agent
• An Oregon licensed real estate agent can represent both a buyer and a seller i.e. dual agency (however it is discouraged within my company Re/Max equity group, inc.)
• An Oregon licensed real estate agent can sell another licensed real estate agent’s listing posted in the Realtors® Multiple Listing Service (this includes builder owned new construction also) if both licensees are members of RMLS™.  This is called co-oping.
• An Oregon licensed real estate agent can sell a for sale by owner to a buyer if that owner is willing to co-op and pay the selling brokerage a real estate commission
• An Oregon licensed real estate agent can represent a seller in a short sale
• An Oregon licensed real estate agent can represent an owner of a foreclosure
• An Oregon licensed real estate agent can sell short sale properties to a buyer
• An Oregon licensed real estate agent can sell foreclosures to a buyer
• An Oregon licensed real estate agent can sell or list property anywhere in the state of Oregon
• An Oregon licensed real estate agent can refer you to another agent anywhere in the country or the world outside of Oregon to assist you with your real estate needs
• Not all real estate agent licensees are Realtors®
• Not all real estate agent licensees are Brokers

My point is that if you see an ad from another real estate agent advertising they are a foreclosure specialist, or a short sale specialist, or a buyer’s agent, they may want to specialize in that field or only work in that area of expertise, but it does not exclude all the rest of us licensed real estate agents from doing the exact same thing.  And, in fact, we do so every day.

(For more local and national real estate news, click on my monthly newsletter – JUNG’S JOURNAL – on my website www.bettyjung.com).

Buying a House in The Winter

Our recent snow and record rainfall, flooding and not to mention landslides around town, have all brought to mind a comment I hear a lot of buyers make. Many buyers think or say they feel the best time to buy a house is in the Spring or Summer.  Is it?  I’ve written in other posts that I have bought my own houses in winter and have sold many houses around that time as well.  There have been some years where January or February have been some of my best selling months.

With all this wild and crazy weather we’ve been having now’s a great time to buy a house because you can see if any problems exist in the basement, the roof or gutters, loose soil, standing water, etc. as those issues become obviously more apparent when there’s rain, moisture, snow, etc.  Oregon has its fair share of the three components that cause landslides: steep slopes, loose soil and water. One area I had been considering to purchase during a winter had one of those issues.  We were looking for houses in the rain in an area we liked and were interested in purchasing.  The rain made it apparent there was a flooding issue, and in fact, the neighbors said it occurred every year. It pays to not only have a Realtor® who is familiar with an area, but for you, the buyer, to do your homework and investigate whether the area has water or other issues as well.  (Here is information from the State of Oregon on landslides, floods, etc. I have more links with information at the bottom of this post.)

Most certainly the winter months bring to the forefront many issues.  That doesn’t mean, however, during the rest of the year when you purchase a home that you shouldn’t check those things out further. Our local news station reported on a recent landslide locally in Lake Oswego (photo above from KATU Channel 2 News) and discussed the checking of maps, etc. before construction as to whether it is a landslide area, etc.  One of the reporters noted that there had been a crack in the retaining wall behind the house.  Certainly an obvious sign that there’s a problem.

Years ago I had a landscaper tell a buyer of mine purchasing new construction to be careful how you remove dirt or change the natural flow of water when you are landscaping and installing that new lawn, shrubbery etc.  In another recent landslide in Portland, they are now saying what may have caused that house to slide down the hill was a recent installation of a sprinkler system that might have been faulty causing an excessive amount of water to keep running.  In my recent post, “Water, Water, Everywhere…”, I wrote about flood insurance.  The news station reported there is no landslide insurance except through Lloyds of London.  I’ve never had a client ask about landslide insurance so I haven’t had a chance to check that out further.  I’d also been asked in the 1980s about earthquake zones.  At that particular time, mapping hadn’t been done and there were no maps to give to clients.  That information didn’t become available until many years later.  If you go to some of the links I have posted below regarding landslides, you will see that a lot of that information throughout Oregon still is not available either.

There’s always a lot to investigate when buying a house. Don’t assume anything and make sure you perform your “due diligence” when purchasing that dream home. Don’t let your emotions side-track you from making sure it remains your dream home.  Take the time to do all the necessary inspections to clear up concerns to comfort you in knowing there are no issues.  Spending a few hundred dollars extra for that special inspection may save you thousands or more in the the long-term, not to mention peace of mind.

(Here is PSU’s Geological Map site and the State of Oregon’s Geological website.  There’s also some additional landslide information here plus more from the State here.)

© Copyright 2008-2009 Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of federal copyright laws.

ALL ABOUT…..Portland.Oregon.Real Estate by Betty Jung is licensed under a Creative Commons Attribution 3.0 United States License.
Based on a Blog at WordPress.

(For more local and national real estate information, go to www.bettyjung.com).