Marco’s Cafe

Marco’s Cafe is a piece of Portland history.  This great restaurant never fails to be bustling with happy customers.  I meet clients and friends alike here for breakfast.  The atmosphere is welcoming and alive!  The wait staff are friendly and timely.  The building is very clean.  If you stop at Marco’s, enjoy their omelettes and then wander the streets of Multnomah Village to enjoy window shopping and fresh local coffee.  There are great import stores for creative finds and there is a great children’s educational toy store as well. 

Multnomah Village is close enough in to downtown Portland to give you the best of several worlds.  If you are in the mood for shopping – you are minutes to the freeway to head to Bridgeport Village.  You are also close to Washington Square.  If you like local independently owned business, just walk out your door to the neighborhood center.  The area is close to Gabriel Park, a great place to take kids to hit the swings!  If you commute to downtown, it won’t take more than 10-15 minutes.  This area has a mix of older and newer construction.  You can find a great older bungalow or a newer home on an in-fill lot, or some older contemporaries.  This area is well worth investigating if you are new to Portland.  Enjoy!

Marco’s Cafe can be found at 7910 SW 35th Avenue, Portland, Oregon.  Call them at 503-245-1099.

Uptown Billard Club

This is a cool place to hang out with friends.  There are several pool tables, the layout isn’t cramped, and the food is good.  Head on upstairs for a dark atmosphere and a drink.  Several areas upstairs let you take a load off after a long day at work.  Stand by the pool tables, meet up at the bar, or sit at the tables with friends for a lively dinner.

Located on NW 23rd Avenue at Burnside it is the perfect watering hole after being downtown or some avenue shopping.

120 NW 23rd Avenue, Portland, Oregon 503-226-6909.

Chaos Cafe and Parlor

My husband and I went out exploring vegetarian and health food recently!  We ended up at Chaos Cafe thanks to a local coupon.  We loved it!  I had spectacular tofu scramble with incredible veggies on the side.  The homemade corn bread was fresh and moist.  After we enjoyed the truly Portland Eastside atmosphere (think funky garage sale or 70′s oddities) we enjoyed the fresh coffee.  It was strong and delicious!  We would definitely go back to this fun restaurant.

The parking is just to the east of the building – don’t miss it!  Powell street is not for parking on.  2620 SE Powell Boulevard, Portland, Oregon.  503-546-8112.

USDA 100% loan areas expand in the Portland Metro

Did you know that the USDA offers 100% financing on housing in certain “rural” areas?  Rural includes Clackamas, Wilsonville, Cornelius, Forest Grove, and more.   Call me for a referral to a good lender who understands this program! 

To see about the income requirements for this loan program visit: http://tinyurl.com/income-requirements

This is a great avenue for the home buyer who wants stable lending with attractive terms.  The areas where this loan is available, and the terms of the loans available can be found on the USDA website at: http://tinyurl.com/6s73ko

Follow me on Twitter: catincluded, find me on Facebook or email me: kathryn@kjkproperties.com; or call me at 503-997-9035. 

We welcome the opportunity to connect!  Ask for our home buyer packet or home seller packet.  We email and snail mail!  Proudly serving Oregon and Washington real estate since 1998.

Milo’s City Cafe

This is a great local restaurant with Portland history!  Located right in the 1400 block of Broadway, it is very convenient to I-5 in the Lloyd Center district.  The atmosphere is professional and friendly.  I like to have business lunches here.  The service is phenomenal.  They have great breakfast and it is served late.  Try their open face Shrimp melt or Tuna melt.  Another favorite of mine is the array of omelette options.  Their fresh bread is a favorite of many of my companions! 

Our office is located very near, so if you visit Milo’s, please stop by.

Milo’s is located at 1325 NE Broadway Street, Portland, OR 97232.  503-288-6456.

Follow me on Twitter: catincluded, find me on Facebook: kathryn@kjkproperties.com, email me at kathryn@kjkproperties.com, or call me at 503-997-9035.

Proudly serving Oregon and Washington Real Estate since 1998!

Salvadore Molly’s

This great little restaurant is a 10 for atmosphere, food, and service.  My husband and I go here when we want a date night, as we met at the former location on SE Belmont.  It led to a marriage, it has to be good!  Try the mole sauce and the tamales, the tops!  I end the meal or start it with the fried plantains.  When the weather is good there is nice outdoor seating where you can watch the world go by.  The interior is very festive.  This restaurant sits up on the hill in Hillsdale.  It is a great area to walk around and enjoy the evening after a good meal.

Salvadore Molly’s can be found at 5105 SW 45th Avenue, Portland, Oregon.  Their phone is 503-297-9635.

This is a great walkable neighborhood with a quick commute into downtown Portland or into Beaverton or Hillsboro.  The houses are moderately priced.  You have good access to dining, shopping, freeways, schools, community centers, and parks.

For more tips like this follow me on Twitter: catincluded, find me on Facebook: kathryn@kjkproperties.com, email me kathryn@kjkproperties.com, or call me at 503-997-9035.  I am a licensed Realtor.  This information is deemed reliable but is not guaranteed.

True or false – a buyer can be responsible to pay for a significant remodel done prior to their purchase of the home?

Unfortunately the answer is true in Oregon.  That is why it is more important than ever for a buyer to do their due diligence when purchasing a home.  We have all heard the headlines about the builder gone bankrupt and the house left incomplete.  It can be the buyer holding the bag.

What about the unknowing buyer of a resale home that is new to them?  The same sort of situation can arise.  A buyer should exercise “Caveat emptor,” or “buyer beware,” and start with a home inspection and immediate research into a home’s history upon mutual acceptance of an agreement to purchase.

How did it become the buyer’s responsibility to discover these things?  Essentially Oregon Revised Statute 105.464 states that a seller shall disclose on their mandatory disclosure form if any repairs, remodeling, or additions have been done to the property.  The seller has an obligation to act truthfully but there is not a guarantee this will happen.  The buyer must do their own diligence to protect their interests.

What can happen if a buyer fails to determine if work has been permitted and paid for?  The buyer can become the responsible party after closing.  The vendor or service provider who provided the service to the seller has 90 days from completion of work to file the right to a lien against the property.  Without proper payment for work completed the provider can file that lien against the property – regardless of whom the current owner is.

The Oregon Homebuyer Protection Act (HPA) was designed to protect a new buyer from the detriment of an unpaid lien on any work completed within 90 days of the close of the sale.  In Oregon Statute 87.007 a seller is required to comply by filling out the statutory form complying with the law and disclosing any known work within the 90 day time frame.

Title insurance companies have stepped in to provide additional title insurance coverage in such a situation.  Not all title insurance companies may provide such coverage, therefore a buyer should confirm that the title insurance policy provided at the chosen escrow company is sufficient.  If it isn’t, the buyer should seek legal counsel.

Alternatively, the title company can withhold 25% of the sales price from the seller, from which any unpaid claims are paid.  Any residual then returns to the seller after certain conditions are met. 

If this alternative does not satisfy the seller, he or she may elect to obtain written waivers from all subcontractors or suppliers with claims larger than $5000, or the seller may elect to obtain a bond or letter of credit.  For more information on using the bond or letter of credit avenue, I suggest reviewing Oregon Revised Statute 87.007(2)(c).

One method a buyer could employ would be the choice of the close date.  If a buyer waits more than 75 days from the completion of construction, the deadline to file a lien will have passed.  The title insurance policy, with final check of the fitness of title, should find any last claims submitted against the title of the home.  If electing this avenue I strongly suggest mandating that the escrow company check the title one last time just prior to recording to be on the safe side. 

Lastly the buyer can agree to sign a waiver of the seller’s requirement of any of the methods of lien protection.  I suggest seeking legal counsel prior to waiving any such right.

Check back here tomorrow on how to use the Oregon Construction Contractor Board to check the standing of your own service provider or that of the seller.  I will also share tips on how to check for permits filed on a property, and other acts of due diligence I recommend my buyers employ or we employ on their behalf.

This should not be construed as legal advice.  For more information or to contact me, please find me on Twitter: catincluded, Facebook: kathryn@kjkproperties.com, by phone at 503-997-9035, or by email at kathryn@kjkproperties.com.  We are conveniently located in the Lloyd District on the corner of NE 16th and NE Weidler.

HUD establishes guidelines for the use of $8000 home buyer tax credit

HUD released information on Friday, May 29th, establishing the current rules for access to the $8000.00 first time home buyer tax credit.  While the credit cannot be used toward the 3.5% a buyer is required to pay for down payment, it can be used as additional down payment and can be used toward closing costs and prepaid items. 

The government believes that this will be different from past gifting programs that allowed buyer’s to utilize 100% financing, a type of loan that is now believed was abused.   With the money the buyer uses for down payment the use of the anticipated tax credit can alleviate the need for additional funds that stall a buyer’s ability to become a homeowner.  Additionally, if used as additional down payment it can help the buyer reduce their monthly housing payment.

FHA loans are known for being stable, conservative lending vehicles.  In the hot real estate market these loans became far less common as consumers jumped to the more popular 100% financing commonly called 80/20 or piggyback loans.   With these types of loans in the rear view mirror FHA has taken center stage.

There are several benefits I appreciate about FHA from a consumer standpoint.  First the home is expected to be in safe habitable condition.  It has always been my thinking that the appraiser is paying more careful attention to details when a consumer may not be aware of the concern as a first time home buyer.

FHA appraisals can also be conservative in value, a great way to help a consumer feel secure in their purchase price.

Potentially the best aspect of FHA is that a relative can be a non-occupant co-borrower and can also gift the down payment to the buyer.  This is a great avenue for the first time home buyer who has family in a position to help.

For more information on the latest news release from HUD please visit http://www.hud.gov/news/release.cfm?content=pr09-072.cfm.  For a referral to a local lender in the Portland Metro area that is well versed in FHA loans please call me at 503-772-8825 x1 or email me anytime at kathryn@kjkproperties.com.