K e l le r Wi l li a m s Mortgage Rate Watch

4.75% - 5.25%
30-year fixed
R E N E ’ S R E A L E S TAT E T I M E S C o n v e n ti o n a l

5.75%
Matching Your Lifestyle to Portland Neighborhoods 30-year fixed Jumbo

Issue 3 Rene Contakos 503-784-4838

February 2010
February has always been the most difficult month for me in Portland.
By the Numbers In the past I worked day and night to take my mind off how rotten the
weather was but the last few weeks have been beautiful. This nice
weather may have something to do with buyer's coming out in droves.
$55,000,650,417 While other major markets are still seeing prices decline Portland's
Total dollar value of 2009 metro area is starting to see prices increase (see chart below). This is
home sales in the Portland good news for sellers. I would love to meet with you and discuss
whether it may be a good time to put your home on the market.
Metro area

340 ON THE RISE

Total number of transac-
tions $500,000 and
up that closed in the Port-
land Metro
area in 2009 that were paid
for in cash
4th
Portland’s ranking, just
above Seattle,
of cities with the most intel-
ligent population.
This is according to
Travel/Leisure Magazine
Less than 67
Number of days left to
purchase a home and re-
ceive the first time home
buyers tax credit.
January home sales in the
Portland area were off to a
slow start recording 986
residential closings, how-
ever there were 1535
pending transactions trail-
ing in to February. Just in
the past few weeks things
are picking up very swiftly,
especially in the First Time
Buyer price points.
If you’ve considered a
move up, now is definitely
the time to think hard
about it. Right now could
be the perfect storm for
you, as there is an in-
creased demand from first
time buyers who want to
buy your current home.
Note that the overall hous- 09, we anticipate a
ing supply in the Portland temporary upward shift in
Metro area between pricing. Multiple offers on
$200k & $350K has a quality properties are oc-
limited supply of quality curring again.
inventory (4.5 months),
and much like Spring of
Demonstration
CURRENT HOME POTENTIAL NEW HOME
You owe $200k Purchase Price $450k
Property Value $325 $90k Down Payment
Current interest rate 6% 4.75% Interest Rate
Current monthly Payment is New Estimated Monthly
Approx $1500 Payment = $2200
Average Sold Price Percent Change

Keller Williams Portland Central • 700 NE Multnomah, Ste. 950 Portland, OR 97232
 LISTED $1.2 M PENDING $409K
West Hills 5330 N Yale Street
Portland University Park
4 BEDS/ 2.1 BATHS 4 BEDS/ 3 BATHS
RENE’S REAL ESTATE TIMES
Rene Contakos
Cell# 503-784-4838
Email rcontakos@kw.com
Website rcontakos.com
Green Tip of the Month
More News Flushing medications down
You Can the toilet? Toss them in the
garbage for now. Pharma-
Use ceuticals are now appearing
in rivers and streams along
with other toxic pollutants.
Congratulations to ….
The best way to dispose of
unused drugs is to bag them
Donna for the
with coffee grounds or kitty
purchase of her new
home this month litter and throw them in the
trash. It would be ideal to
have a drug take-back pro-
gram, but until then coffee
grounds and kitty litter it is.
Source: Portland Bureau of
Environmental Services
Keller Williams Portland Central • 700 NE Multnomah, Ste. 950 Portland, OR 97232
PENDING $239,900
18050 SW Arborcrest Court
Aloha
3 BEDS/ 2 BATHS
Testimonial
“ Rene went above and
beyond any Realtor I've ever
dealt with in the past. She
was there for me during my
search, the inspection, the
renegotiation and finally at
the closing table! I can't
imagine using any other real-
tor when the time comes
to buy my next home.”
- Dawn
SOLD $371K
3413 NE 54th Street
Rose City
3 BEDS/ 1 BATHS
Tax Tip
There is a 10% penalty for
traditional IRA withdrawals
first-time homebuyer ex-
pense exception. A penalty
exception is allowed for up
to $10,000 of qualifying
“first-time” homebuyer ex-
penses, which include rea-
sonable settlement, financ-
ing, or other closing costs.
This is a lifetime cap per
IRA owner and not an an-
nual limit. Call Ed for more
information at 503-233-
1133.
Source: Edwin B. O'Hanlon, CPA