Celebrating our Pinnacle Group members

Pinnacle Group

Dedicated members of the Pinnacle Club

A December luncheon at the Waverley Country Club kicked off the inauguration of the Prudential Northwest Properties Pinnacle Club. Agents and staff members who have been with the company for 20 or more years received honorary membership in the Pinnacle Club. Bert Waugh Jr expressed his appreciation and gratitude for the long-term commitment these individuals have shown to him, the company, and to their clients.

Years of service for members of the Prudential Northwest Properties team breaks down as follows:

36 people have been with us for 20 or more years

32 from 15-19 years

52 from 10-14 years

126 from 5-9 years

36 for 4 years

62 for 3 years

64 for 2 years

103 for 1 year

83 for less than 1 year

These numbers are a testiment to the commitment our company has to delivering the best value and highest level of service in the real estate industry.


The Basics: Extended Home Buyer Tax Credit

Bringing the Dream of Homeownership Within Reach

As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:

  • Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
  • Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.

Here is a little more information about how the Extended Home Buyer Tax Credit can help prospective home buyers become part of the American dream.

Who Qualifies for the Extended Credit?

  • First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
  • Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

 To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

Which Properties Are Eligible?

The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Is Available?

The maximum allowable credit for first-time home buyers is $8,000.

The maximum allowable credit for current homeowners is $6,500.

If you have specific questions or need additional information, please contact a tax professional or the Internal Revenue Service at 800-829-1040.


Giving to others this holiday season and beyond…

santa baby girl red

A little recipient of the Damascus/Clackamas Christmas project

Giving back to our communities is an integral part of the Prudential Northwest Properties culture. It’s what we do throughout the year. Now that the holiday season is upon us, the Pru crew has stepped up our giving even more. In addition to McMinnville and West Portland’s huge donations of Love Boxes for the soldiers overseas, here’s what a few of our other branches are doing to help their communities…

Hillsboro Branch Adopting a Family for the Holidays! The Hillsboro Branch has adopted the Anderson Family which consists of Mom, Dad and 2 boys, one with autism. Dad was recently laid off. Thank you Hillsboro Branch for giving back to the community and helping those in need!

Damascus and Clackamas Branches Provided Toys to Kids in Need! They collectively raised over $1,000 and then purchased and wrapped holiday gifts for 74 kids at the Annie Ross House (the only shelter in Clackamas County that accommodates entire families) and Clackamas County Women’s Shelter holiday party. Thanks to all the members of both branches for carrying on this annual project spearheaded by Amy Nelson!

Scappoose Branch Donating and Giving Back! The Holiday Spirit is strong at Prudential Northwest Properties! Many thanks and kudos to the Scappoose Branch in donating money to Toy & Joy, as well as giving money and food items to Columbia Pacific Food Bank. A special nod goes to Lisa Frahm and her daughters for braving the cold as Salvation Army bell ringers at Fred Meyer. Thank you, Scappoose!

Metro Branch Reaches Out to Seniors this Holiday Season … The branch is “adopting” several seniors at the Rainbow Adult Living Center and will be providing gifts to brighten their holiday season. Thank you, Metro!

Columbia Tech Center Wraps for Transitional Youth this weekend! Chad and the gang from CTC are gift wrapping at the Westfield shopping center on the 13th and proceeds go to Transitional Youth. Thanks, CTC!

Sandy Toy Drive

Sandy Toy Drive

Sandy Branch is holding their 29th Annual Toy Drive! The longstanding tradition of collection toys for kids in need carries on in the Sandy community. They also shipped off many Love Boxes to the troops overseas. Thank you, Sandy Santas!

Food for the Hungry in Central Oregon – Thanks to all of our Central Oregon agents for participating in the Crook County Realtor’s Christmas party and food drive for St Vincent D’Paul. They contributed over $800, and every dollar donated purchased 7 lbs of food. In total, they were able to provide over 5,600 lbs of food which will help feed about 90 families. Our offices provided over 700 lbs of food. Excellent job, Central Oregon crew!


Timing couldn’t be much better for first-time homebuyers

First-time homebuyers dominated the U.S. real estate market in 2009, accounting for roughly half of all residential transactions, according to the National Association of REALTORS®.

That trend is likely to continue well into the new year. That’s because interest rates are hovering near all-time lows, home-price affordability is near all-time highs and a third factor – Congress’ extension of the first-time homebuyer tax credit until April 30, 2010 – make conditions quite favorable for those considering homeownership for the first time.

Still, with the prospect of making one of the largest investments you’ll ever make in your life, you can easily become overwhelmed. Some of the questions you may be asking are: Will I be able to afford the home of my dreams? Do I have enough money for a down payment? Will I qualify for the tax credit? Will I make smart home buying decisions? If you go into the process prepared, your first purchase – like the current timing – can be just right.

Continue reading…


Linda McClellan installed as CCAR board president

LindaMcClellan

Linda McClellan

Prudential Northwest Properties’ Clark County NW Realtor Linda McClellan was installed as the 2010 board president of the Clark County Association of Realtors during the group’s annual installation and awards luncheon yesterday at the Heathman Lodge. McClellan was sworn in with four new officers and 10 board members who will preside over the association next year. The group will focus on lobbying efforts on behalf of the industry, said McClellan, who foresees a better year for local home sellers in 2010. In Clark County, home sales have made year-over-year gains since June, although sales are still off from peak years in 2005-07. “It would be really nice to see this trend continue,” McClellan said.

Linda joins these Prudential Northwest Properties brokers in leadership of their local REALTOR Associations during the 2010 term: David Tangvald, GRI – Portland Metropolitan Association of Realtors, Lisa Frahm – Columbia County Board of Realtors. Thanks to all of these pros for giving back to our industry!


Portland home prices edged down in November

Portland area home sales for the first 11 months of the year were running 4.1 percent behind the same period in 2008, according to figures released Tuesday by the Regional Multiple Listing Service.

The median price for a Portland home fell to $239,000 in November, down 9.8 percent from a year ago.

The Realtor group said 1,795 sales closed in November, 72.4 percent more than the same month in 2008. The flurry was sparked by a federal first-time home buyer tax credit, which was to expire at the start of December but has since been modified and extended.

Compared to October, however, closed sales decreased nearly 11 percent.

The inventory of homes fell to 7.1 months from 15 months a year ago, but a slight increase from the 6.5-month level of October. The inventory figure reflects how long it would take to sell homes at the current pace.

 

source: Regional Multiple Listing Service


Prudential Northwest Properties in the spotlight

Bert_RealtorsMakeThingsHappenDec09

Prudential Northwest Properties got extensive exposure in Pamplin Media Group’s recent special publication Realtors Make Things Happen.

Bert’s motivational and philanthropic endeavors were featured (page 4), along with Rob Levy’s progressive use of technology (page 12), and the value of the current and accurate market data in our Property Investment Profile, Market Tracker and HomeFinder Pro consumer reports (page 14).

Read all the articles here.


Median Vancouver home price now under $200,000

Clark County home sales continued to rise in November compared to a year ago, but foreclosures and short sales pushed prices down by 13 percent, according to a report today. The overall median price was $199,950 for the 529 new and preowned homes sold last month, falling below $200,000 for the first time in nearly five years in Clark County. February 2005 was the last time the median price was below $200,000, at $198,129.

This is an excellent time to take advantage of the low price points and mortgage rates!

 


Transitional Youth selected as Season of Sharing beneficiary!

Jermaine and Justin, the first residents of Transitional Youth's Home on the Range.

Jermaine and Justin, the first residents of Transitional Youth's Home on the Range.

The non-profit organization founded by Prudential Northwest Properties president Bert Waugh Jr., was selected as one of The Oregonian’s Season of Sharing beneficiaries. Each year, the newspaper selects families, individuals and nonprofit agencies in need throughout Oregon and southwest Washington. Transitional Youth is fortunate to have been selected this year.

We’re thankful for the support and exposure this will bring to homeless youth in the greater Portland metro area. A sincere thank you to The Oregonian.

Read the article “A rebuilt house will help rebuild the lives of homeless young people” here. 

 

Record low rates boost mortgage loan applications

Mortgage application volume increased 8.5 percent last week, as more borrowers refinanced loans to lock in interest rates near record lows, the Mortgage Bankers Association reported today. Refinancing activity jumped 11.1 percent on an adjusted basis during the week ending Dec. 4, compared with the previous week. Purchase volume rose 4 percent. Customers looking to refinance existing mortgages accounted for 74.4 percent of total applications, up from 72.1 percent the previous week.

The first uptick in interest rates in six weeks might have also pushed borrowers to lock in rates now. The average rate for a traditional, 30-year fixed-rate mortgage increased to 4.88 percent last week from 4.79 percent the week before.The average interest rate on a 15-year fixed-rate mortgage increased slightly to 4.33 percent from 4.27

source: The Columbian


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