Portland Oregon Older American asks: "should I wait to sell my home until the values come back?"
That is a great question and one that most older American's not only in Portland Oregon, but all over the nation are asking. To answer your question let me ask you one: are you planning on buying another home with the proceeds of your current home?
If the answer to that is yes then I would say you need to talk to your local Portland Oregon Realtor now because there is no better time to buy since there are so many bargains out there. Remember that you will sell your home for less than you think it is worth, but you are also buying one for less than it's previous value as well. Keep in mind that many of the costs associated with buying and selling a home are tied to the appraised value or the sale contract price. Real Estate Sales commissions, Title Insurance, Origination fees, Mortgage Insurance Fees are all examples of costs that are associated with the sale and purchase of Real Estate.
Guess what, as soon as the value of your home goes up so does the value of the home that you want to purchase. My question to you is why would you want to wait?
The same pricipal is true for those of you thinking about getting a Reverse Mortgage. If you wait for the value in your home to go up you may very well be facing higher interest rates which means that you won't qualify for any more money that you would today because a large percent will not go in your pocket but to interest. If you plan on setting up an emergency line of credit then I have even better news for you. You can lock in the current value of your home to protect it against any further losses that Portland Oregon and the rest of the nation have experienced, and the portion of your line of credit that you haven't used gains in value. Yes that's right it grows over time. Check out my webistie calculator and look at the amortization schedule and you will see it for yourself. As always, I am available (NO PRESSURE), to answer any of your Reverse Mortgage questions. Unlike a Home Equity Line Of Credit, your home can provide you with anEmergency Line of Credit that will not be frozen by the bank even if your home looses value and even better yet when you do use it you will not have to make a payment!
Isn't it time you stop taking money out of what's left of your portfolio account and let your Portland Oregon home get you through the economic plague that we are all faced with? If you are looking to downsize or upsize please do that before you get a Reverse Mortgage and consult with your trusted Real Estate advisors.
It pays to get your advice from those that work in the Portland Oregon market everyday and not rely on the negative nay sayers. Take action and educate yourself with the facts. Call your Real Estate agent, your accountant and your Reverse Mortgage Specialist and find out what your options are. It's time to start sleeping better at night!!
Bend, Oregon: CE Credits for Realtors delivered in Oregon on the topic of Reverse Mortgage
Sharon Falvey, Vice President Northwest Sales has been effectively delivering Continuing Education Credits to Realtors accross the State of Oregon and most recently in Bend, Oregon. This class has been very well received by Realtors that thought they understood the truth about Reverse Mortgage until they took the class.
Sharon Falvey and Security One Lending were recently quoted in "Reverse Mortgage Daily" and "Reverse Fortunes" as well as other's. It brings me great joy to be able to dispel the myths about Reverse Mortgage and show Realtors how they can position themselves to use it correctly and increase their sales. We all need to make our way in these interesting times and you can never have to many tools in your belt to do so.
Dan Heater: Continuing Education Director in Bend Oregon for COAR is quoted as saying:
"Thank you Sharon so much for the great class on Reverse Mortgages you did at COAR last week. The class was very good. It is amazing that we all still have these pre-conceived ideas about what a reverse mortgage is and how it can fit into our lives as we age. All of our brokers we very impressed with the class and had all changed their minds as to the value and use of reverse mortgages both personally, and as a tool to help their customers.
The class was concise, easy to understand and gave all who attended something else to include in their presentations for their clients. I would recommend this class for anyone to take. Anyone approaching this age, with parents close to this age, or a real estate practitioner with clients of this age would gain valuable information as to how to own real estate as you approach your senior years.
And Desiree Streeter, Broker in Bend Oregon as saying:
I want to thank you so much for drawing my card for the nice briefcase. That really brightened my day! I have had some really rough times lately with caring for my mother who has been ill for the past 2 years and then my husband being in the hospital since Feb 2 and getting out tomorrow. With that and work I have definitely had a full plate!
I really enjoyed the class today. I went into it knowing nothing at all about Reverse Mortgages. It was very interesting and I gained a lot of knowledge which I will use. I will highly recommend this class to others I know when I see it posted again. I look forward to your updates!
Real Estate Broker
If you would like more informaiton as to how I can bring this to your Association or Office please do not hesitate to contact me. For more general information please visit my website or call me direct at 541-891-5706 (cell) 503-534-3546 (office). I look forward to serving your needs.
Vice President, Northwest Sales
Home Equity Specialist
My blog is a personal expression of my own thoughts, and opinions and does not necessarily reflect the thoughts and opinions of Security One Lending