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Summer 2017 Newsletter

Summer 2017 Newsletter

 

 

 

                                                     

Thank You All – For Sharing Your Positive Feedback Online!

Recently, we have been recognized by Google as well as many other online providers as a leading local small business making a positive mark with consumers and clients.  #SmallThanks

As a small business, we have been blessed by all of you that have shared your 5-Star experience online with others.  We are one of the (if not THE) highest client-rated firms in the Pacific NW for company size.  We rely on this feedback and continue to adjust to be the very best we can be, while making sure others hear about your positive experiences.  Our goal is to get exposure away from the higher-cost (and unfortunately many operating unethically) lenders still heavy in the primary mortgage market.

We are at a time in the mortgage industry where people are finally beginning to realize what local independent firms are able to do what others cannot.  When larger wholesale lenders (working with local small independently-licensed businesses) compete for the same identical agency and investor-backed loan programs, the outcome is much more favorable to the consumer and Veterans on lower rates/fees, better speed and technology, more products, etc.

If you have not yet shared your experiences and willing to, we would greatly appreciate it!  You can get the links for review by emailing info@vantagemortgagegroup.com.  Again, we greatly appreciate your support.

 At Vantage, we strongly support the brave men and women of our military. We understand a VA loan is more than just another mortgage. It is a BENEFIT to those who serve our country.

Over the years we have seen a growing issue that must be addressed. Many retail mortgage lenders and the employees that work for them have been steering Veterans to one rate sheet. Without competition, lenders have targeted the VA benefit by charging significantly higher rates and hiding credits that would otherwise be passed onto the Veteran.

Many of these lenders are also claiming to be ‘VA Specialists’ or appear to be offering ‘incentive programs’ that are helping Veterans, but are doing just the opposite. These programs are simply marketing platforms hiding costs in higher interest rates we’ve seen upwards of 1% above market.

Well, we’ve had enough!

Oregon & Washington Real Estate Update

OREGON:  

The median home value in Oregon is $335,500. Oregon home values have gone up 7.0% over the past year and Zillow predicts they will rise 4.2% within the next year. The median list price per square foot in Oregon is $214. The median price of homes currently listed in Oregon is $379,900 while the median price of homes that sold is $328,100. The median rent price in Oregon is $1,795.

Foreclosures will be a factor impacting home values in the next several years. In Oregon 3.6 homes are foreclosed (per 10,000). This is greater than the national value of 1.6

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Oregon is 1.2%, which is lower than the national value of 1.6%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Oregon homeowners underwater on their mortgage is 5.4%.

WASHINGTON:  

The median home value in Washington is $375,300. Washington home values have gone up 10.9% over the past year and Zillow predicts they will rise 7.2% within the next year. The median list price per square foot in Washington is $226. The median price of homes currently listed in Washington is $395,000 while the median price of homes that sold is $352,000. The median rent price in Washington is $2,100.

Foreclosures will be a factor impacting home values in the next several years. In Washington 2.1 homes are foreclosed (per 10,000). This is greater than the national value of 1.6

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Washington is 1.0%, which is lower than the national value of 1.6%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Washington homeowners underwater on their mortgage is 6.6%.

VMG Mortgage Rate Tracker

It’s been an interesting time to watch interest rates this year while they have been slowly rising, but there is so much speculation about the future.  One thing is clear, rates are still historically low and it is still a great time to buy a home.   While we were spoiled with very low interest rates in recent years, we also have to realize what is realistic and what is not providing what occurred after the financial crisis.

While interest rates are certainly important for budgeting and payments, we have to also consider the amortization, tax, appreciation, and many other benefits homeownership offers.

If you would like to be added to our VMG Weekly Rate Tracker, email us to request at info@vantagemortgagegroup.com 

If you know of anyone buying a home now or in the near future, please share VMG with them.

To keep an eye on our market-leading mortgage rates or pass on to a friend or family member in the market to buy or refinance, visit our blog: https://www.vantagemortgagegroup.com/blog/ 
Buy vs. Rent – What Debate?
It’s no surprise that the cost of housing is getting pretty rough in the Pacific Northwest.  While some areas are providing a little relief, others continue to show high demand.  For those considering buying their first home and taking on likely the largest debt fo their life… of course they always want to do the math to understand ‘why’.  
Please contact us if you would like a custom Buy vs. Rent calculator where we can apply any scenario for the local market, tax brackets, etc.  You might be surprised by how much wealth is obtained through real estate.

Come Visit Us!

16325 SW Boones Ferry Rd. Suite 100 Lake Oswego, OR 97035

 

As you may know, my business is based on referrals from people like you and those who hear about the quality and detail of our services.  Please pass on my information to anyone you know that could benefit from my services.
 
If you have any questions, please feel free to contact me anytime.
Thank you for your ongoing support and referrals!

  
   
               www.VantageMortgageGroup.com
          
                                                  
 
                                        Vantage NMLS# 35986
                                   
         

 

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