Rainbow Realty NW

11/20/2023

VA Loan Foreclosure Moratorium until 5/31/24. Thousands of home owners who enrolled in the Covid relief forbearance opportunity will have more time to make corrections. There was a variety of forbearance programs, some were second loans as a lien against the home, some just tacked on the missed payments to their loan balance...this may yield more inventory if homeowners decide to sell in time to prevent foreclosure. Now's the time to consider all the options.

The Department of Veterans Affairs is intervening on behalf of 6,000 homeowners with VA loans who are in the foreclosure process. Many more are delinquent. The move follows an investigation by NPR.

09/26/2023

Check out this cool artsy loft space in downtown Portland.

Listed for sale at $725000. Experience the essence of urban living in this extraordinary 1641 sq foot live/work loft nestled in the heart of NW Port...

09/06/2023

Market Action Report just released for August. Portland Metro is 2.2 mo of inventory.

https://www.rmlsweb.com/v2/public2/loadfile.asp?id=14140

08/20/2023

This is a message to all buyers who have been considering buying a condo and all condo owners upon sale or resale after 9/18/23.

This seems scary but I think it’s a good thing, because it motivates and regulates homeowners to abide by the bylaws and CCRs of the HOAs to maintain their communities or to maintain and increase property values.

Board members and homeowners should make assessments considerations on how to prepare for this change and decide how to balance or prioritize manageable monthly dues or the property's condition to protect from special assessments.

Most bylaws require frequent updates to the Reserve Study (a paid for professional analysis and forecast for annual budget to cover monthly costs and future maintenance schedule; and what improvements will add value and when to update). Some HOAs are volunteer. Who manages the HOA is a deciding factor for a buyer.

If monthly dues go up or even if the Board or owners interfere or protests the Reserve recommendations in order to retain lower dues, condo prices may go down, it may be harder for the buyer to be approved or more challenging to get condo communities approved. If homeowners cannot sell they'll risk losing equity or going into foreclosure.

By contrast if the HOA is clean, per these new rules, then there will be more of a demand for those communities, which will have a larger share of the Condo Buyer pool.

Best to get HOA affairs in order.

Here's the link for announcement and a summary from Mark Aalto with Advantage Mortgage.

https://www.fanniemae.com/research-and-insights/perspectives/future-condo-lending?fbclid=IwAR2Ds7iGlkb_3uxIOk4jA4tk9NEM1_MBBzBJC-O7KKfE0r1WbNtoMNcMnps

08/08/2023

“The recovery has not taken place, but the housing recession is over,” says Lawrence Yun, NAR’s chief economist.

Contract signings picked up the pace last month, and home buyers are increasingly facing multiple offer situations. NAR releases its housing forecast for the remainder of the year and 2024.

08/07/2023

🚨 Design Trend Alert 🚨
🤎Browns!🤎

Brown is back 🤎 We’ve been noticing (and loving!) this warm and chocolatey color palette again and again. I love how this large red oak kitchen island serves as a focal point balanced by the pops of green and glow of the gold pendants. What do you think of this color story?

Design by: ⁠
Photo by: .co

07/18/2023

🌈New Listing!🌈
Super stylish home for sale in Oregon City.
Hilltop neighborhood of Tower Vista, low key street with a low key backyard, covered patio and firepit. Fresh interior with all the spaces you need. Main level home office or 4th BR, oversized garage with door to fully fenced backyard.

Call us for a private tour!
Rainbow Realty NW
503-577-4643

Listed for sale at $599900. Beautiful Oregon City home in Tower Vista neighborhood. Traditional style, open concept with craftsman details. Light an...

06/29/2023

🎆 Independence Day! 🎆

Where to watch fireworks in Oregon

06/27/2023

With each adjustment in the housing market lenders create programs that offer solutions for buyers to get into their new homes. There are three exciting opportunities for First Time Home Buyers. Lenders offering Zero Down, Low Down, or Grant Programs. Message for more info on these loan programs!

Rainbow Realty NW
(503)577-4643
Text or Call anytime.

05/27/2023

🏡 OPEN HOUSE 6/3 10a-12p and 6/4 1p-3p 🏡
Auspicious Contemporary One Level Ranch
SW Beaverton, Aloha, Hillsboro
3BR 2BA 1520SF
Stylish and Clean! Fully updated!

21828 SW Regal Ct, Aloha, OR 97003 is for sale. View 48 photos of this 3 bed, 2 bath, 1520 sqft. single family home with a list price of $539000.

05/27/2023

🏡 PENDING 5/30 🏡
Custom-Classic Capecod!
4BR 2BA, over 2000sf!
Almost HALF ACRE park like backyard!
Fully fenced! 🐶
Centrally Located easy to I205

Check out the virtual tour!

565 Welter Cir, Gladstone, OR 97027 is pending. View 48 photos of this 4 bed, 2 bath, 2118 sqft. single family home with a list price of $565000.