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The State has a Plan to Assist Oregonians with Subprime Lending Problems!

Monday, September 17, 2007
by Rob Levy, Prudential Northwest Properties

By Kate Baldus

 

I found this interesting article about plans to help Oregonians before they face foreclosure.  We are lucky to not be facing a serious foreclosure rate here in Portland but this plan would help support those in our community who may be struggling with a mortgage.

 

State tackles subprime lending problem

Portland Business Journal - September 14, 2007

Gov. Ted Kulongoski on Friday announced plans to help Oregonians who may be facing mortgage foreclosure due to the recent tightening in the subprime lending market.

"We have been fortunate in Oregon that rising home prices have meant lower foreclosure rates than in other states," said Kulongoski. "But foreclosure rates are rising and that's a concern. We must make sure that no one loses their home because of an unfair loan product or lack of information."

Kulongoski told the Department of Consumer and Business Services , which regulates mortgage lenders, to take several steps now to help Oregon homeowners. The governor also ordered the department to create a work group -- including legislators, consumer advocates and mortgage lending industry representatives -- to look at potential legislative solutions.

The department will:

§                 Connect Oregonians with free pre-foreclosure counseling.

§                 Work with the lending industry and other government agencies to identify refinancing options for those facing foreclosure.

§                 Increase enforcement against misleading advertising aimed at inducing borrowers to refinance.

The work group will look at:

§                 So-called "mortgage rescue" schemes. As interest rates increase, more borrowers will find themselves with unaffordable loans. Any refinance or buyouts offered by companies should be legitimate and a net benefit to the borrower.

§                 Oregon's mortgage foreclosure laws and whether borrowers receive adequate notice of options and whether procedures are appropriate.

§                 How subprime loans are underwritten. Just like traditional loans, nontraditional loans should be based on the borrower's actual ability to pay.

§                 Prepayment penalties and whether prepayment penalties should be limited by Oregon law so they do not trap borrowers in an unaffordable loan.

§         Loan qualification and whether there are systems in place to ensure that all borrowers are offered the best possible loan under the best possible terms for which they qualify.

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Portland Pirate Festival

Monday, September 17, 2007
by Rob Levy, Prudential Northwest Properties

Portland Pirate Festival

By Sandy Morley

 

The 2nd Annual Portland Pirate Festival is this upcoming weekend – September 22nd & 23rd.  This family-friendly event takes place in North Portland under the St. Johns Bridge at Cathedral Park.  Tickets can be purchased in advance for $12 adults or $15 at the door.


Entertainment will feature music by these favorite Pirate bands:

o Brotherhood of Oceanic Mercenaries

oCaptain Bogg & Salty

oGolden Bough

oSol' Jibe

oBroadside Johnnie

oLauren Sheehan Jug Band

oSam Bam Boo

 

Kids will enjoy exploring the old pirate ship and fun booths and activities.  If hungry there will be 15 tasty locations for grub and grog.

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Washington County Commuter Rail Project

Monday, September 17, 2007
by Rob Levy, Prudential Northwest Properties

By Kate Baldus

 

This new 14.7 mile passenger rail line will connect Beaverton and Wilsonville set to open in Fall of 2008.  This is the first commuter rail line in Oregon and one of the few suburb-to-suburb commuter rails in the country.  The process began in 1996 with initial discussions of the feasibility of a commuter line for Washington County including the suburbs of Beaverton, Tigard, Tualatin, Wilsonville, and Sherwood.  Also taking an active role in the discussions were TriMet, Metro and the Oregon Department of Transportation. 

 

The best part about this project – the rail lines will use existing freight tracks so that construction impact should be minimal.  The currently plan provides for self-propelled diesel train cars to carry passengers.

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Tualatin Can Compete – All While Maintaining a Small Town Feel!

Friday, September 14, 2007
by Rob Levy, Prudential Northwest Properties

Submitted by Sandy Morley

The buzz is getting louder surrounding the vision plan and developments in Tualatin. Bridgeport Village - the new, flashy “lifestyle center” has propelled Tualatin as a destination for Portland area residents and families relocating to Oregon. The $250 million shopping center (opened in 2005) has become the “it” place for high-end boutiques and movie-goers. This isn’t the only change happening southwest of Portland.  The once country farming community has created a downtown area with a man-made lake surrounded by condos and the new development called Nyberg Woods.
 
The best part of this transformation? The city has maintained the small town feel with a focus on preserving the historical landmarks and highlighting the recreational uses of the meandering Tualatin River. While continuously growing, the community emphasizes the family-friendly atmosphere as one of the most important goals - decided by vision plan input that included nearly 4,000 residents.
 
It is not just Tualatin’s image that makes this a great community to live – the easy access to I-5 makes commuting to Portland a 20 minute drive. The long-awaited new Washington County commuter rail project (to be completed Fall 2008) will make traveling to and from town even easier. Best of all, the city is investing in constructing the commuter rail station to resemble an old brick 1920’s train station to keep with Tualatin’s small town feel. 
 
Still considered up-and-coming, there are hopes for a central gathering spot like a community center and a need for more restaurants and stores downtown. Until then, thousands of residents gather every year to taste delicious seafood at the Tualatin Crawfish Festival (number 57 this year!), dance to jazz and bluegrass at the free weekly music series Concert in the Commons, and celebrate the local history at the Tualatin Heritage Center.
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Why Move to Portland, Oregon

Tuesday, September 11, 2007
by Rob Levy, Prudential Northwest Properties
Submitted by Bruce Hecht
 
 
Call me smart, call me savvy, call me senseless, but don't call me to tell me that it is raining.
 
The weather, the way of life, the water, the snow, the mountains, the oceans and most importantly, the ease of life.  Combine all these factors with the ammenities of the biggest and best cities in the United States and you have Portland, the best place to live.
 
Some people believe that it is the schools that make Portland stand out most, while others often take the position that we have some of the most beautiful parks in the country. These things are all true of Portland and they go hand in hand with an overall low cost of living and excellent quality healthcare.  It is also important to note that if you are someone who likes to do a lot of travelling you are an easy flight to many popular destinations, such as San Francisco and Seattle.
It is my personal belief that Portland is the best place to live because it is the perfect combination of the four seasons.  Yes, that is correct.  Portland, Oregon has the perfect balance of weather.
 
 
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Arts and Culture in Portland

Tuesday, September 11, 2007
by Rob Levy, Prudential Northwest Properties
Submitted by Sandra Hanis
The season arrives for the Broadway Across America’s new Broadway theater season at the Keller Auditorium. This 2007- 2008 season includes Monty Python’s Spamalot, Camelot, and Twelve Angry Men.
Having spent this month’s mortgage on several shows while on a summer visit to New York City, I definitely intend to indulge myself with season tickets this year. Portland offers great new shows and amazing live talent for theater lovers. Even if you do no more than see one or two shows, you owe it to yourself to do so. These great programs are good for the soul as well as for the lively culture of the city. While it is an investment of time and money….I can’t think of  a nicer gift for someone you love. Why not take Grandma or even Grandpa…how many new sweaters do they need? Or introduce your teenagers to a show and dinner! Dress Up! Talk! They will benefit from the exposure to live theater. As for your sweetheart, don’t miss the obvious romantic opportunity for an evening together. Choose a play he/she will enjoy. The reward could extend after the curtain falls!
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The Lowdown on the Mortgage Market

Tuesday, September 11, 2007
by Rob Levy, Prudential Northwest Properties
Submitted by Shawn Headlee
Good Morning All,
 
How about those Oregon Ducks!! I hope you all got to enjoy the game this weekend. 
 
It was a rough day on Friday for the stock market, but the bond market did well where rates are concerned. The 30 year fixed is approaching 6%. This is mostly due to the markets believing that the economy is slowing. Country Wide Financial announced today that they were laying off approximately 12,000 employees. I don’t think CWF is going to go bankrupt, but this is a sign of how bad the mortgage market has become.  
 
Housing inventory is up and rates are down, that is a great recipe for a strong buyers market. It has been a few years since we have seen one of those!!
 
Have a great week!
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Keeping It Healthy in Portland

Tuesday, August 28, 2007
by Rob Levy, Prudential Northwest Properties
Submitted by Clinton Downs 
In our office we have an almost daily check in about where we are with our workouts- and we put pressure on each other to make sure we are getting our physical exercise in. And, evidently, our office isn’t the only one. According to the Trust for America’s Health, Oregon is the 49th Least Inactive (or, if you’re a glass-half-full type of person, Oregon is the 3rd most active state), with only 17.4% of Oregonians reporting that they do not engage in any physical activity.
It’s been a cool and sunny summer to get out and enjoy the great outdoors, either biking, running or even walking. Here are some websites to help you plan:
 
Drive Less, Save More (great biking and walking resources!) (http://www.drivelesssavemore.com/travel/)
All Getaways (great walking maps all over Portland from their guidebook) (http://www.allgetaways.com/region.asp?areaid=100173)
The Oregonian’s Running Blog (http://blog.oregonlive.com/runoregon/)
 
And to see how many Oregonians have fun while also exercising, check out the Oregonian’s coverage of the Hood to Coast relay. (http://blog.oregonlive.com/oregonianspecial/2007/08/hood_to_coast_2007.html)
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Bike Commuting in Portland

Tuesday, August 28, 2007
by Rob Levy, Prudential Northwest Properties
Submitted by Bruce Hecht
 
As bike commuting continues to grow in Portland Oregon, more and more future home
owners try to buy homes that are inline with bike path, bike lanes or bike trails that will get them to their jobs.
 
Bike commuting in Portland Oregon is up 80% from 1997 to 2006!  The highest in the United States.  The problem is, when the riders get to work, many of them have found that they forgot something they need to wear to be dressed for work.  No problem say the store workers of many of the local downtown area merchants, they are ready for them on a moments notice when they come in.
 
There are a few sites you can go to, like www.bta4bikes.org.   This site helps you learn more about what the current riders do, where they go and how they converted from car commuters to bike commuters.
 
Only in Portland Oregon can you find bike commuting going up and car driving going down.
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Choices Abound on Portland’s South Waterfront

Tuesday, August 28, 2007
by Rob Levy, Prudential Northwest Properties
Submitted by Sandra Hanis
 
In spite of a gorgeous river running through the city, until recently Portlanders haven’t had many waterfront choices in housing. All of that has changed! Unfortunately, too many residents are unaware of their good fortune.
This last week, I showed several gorgeous, nicely appointed properties to an investor from out of the area. These clients recognize the bargain that these condo homes are…and are buying this home as a second residence. To benefit you will need to contact a knowledgeable agent and The Rob Levy Team looks forward to assisting you with this search. Through extremely good planning many units have great views and even if not riverfront, many homes take advantage of nice side views. The entire area is under construction with plans for recreation, dining and amenities for daily life! Today the construction makes the search a little confusing but buyers with some vision will benefit from their foresight!
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Displaying blog entries 151-160 of 301

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