Traditionally, when parting ways with your property, the bill included paying commission not only to your own real estate agent but also to the buyer’s representative. Splitting a combined fee that usually hovered around 5 to 6 percent of the home’s final sale price between the two agents represented a substantial chunk of change. Currently,… Read More »
Jumping into the Oregon real estate market, whether as a buyer or seller, means encountering the inevitable reality of closing costs. These expenses hover around a modest 0.9% of the property’s final sale price statewide. For instance, the median home value in Oregon as of September 2023 stood at $502,000. That translates into closing costs… Read More »
Key Takeaways A chronic scarcity of available houses sparks fierce competition among buyers, fueling escalating prices. Soaring mortgage interest rates have considerably inflated borrowing expenses. Higher costs for construction materials, labor, and general inflation further intensify soaring home prices. What’s behind the steep ascent in housing costs today? A cocktail of factors—from climbing mortgage rates… Read More »
The image that springs instantly to mind when picturing the archetypal suburban American abode is undoubtedly that of a split-level house: a domicile boasting staggered floors, subtly evident from the facade, linked by brief staircases that whisper stories of mid-20th century design. Designed with the booming post-war baby-boom generation in mind, these homes sprouted up… Read More »
Key Insights to Keep in Mind Unlike the typical real estate deal, acquiring a property from a relative falls under a non-arm’s length transaction category — where pre-existing personal ties between buyer and seller are at play. Such arrangements often attract heightened attention from mortgage providers and carry the risk of stirring up family disputes.… Read More »