Oh the times, they are a-change’n…
As Bob Dylan once sang, the times, they are a-change’n. Isn’t that the truth? Lou and I were reflecting back to the time when we bought our first house. The house was only $46,000 in 1980 but the interest rate was over 16%, making our monthly payment with taxes and insurance over $900/month. Today, the first time homebuyer will pay somewhere around $300,000 and the interest rate will be about 4% (or for some, even lower!), making their payment with estimated taxes and insurance of about $1,900/month. And hopefully, salaries have crept up in the last 37 years! In 1980, we didn’t have any inspections what-so-ever, we didn’t even know they existed! We bought the house and hoped for the best. Today, the home-buyer will get a general inspection and most likely a sewer-scope, radon test, and add any other specialty inspections that the home inspector deems necessary. It’s not uncommon to get specialized inspectors to examine the furnace, chimney, fireplace, foundation, roof, electrical, or even figuring out the discoloration that could potentially be mold! We’ve mentioned how the current housing market is very tough for first time buyers. One of our strengths and favorite things to do is to work with first time buyers. We like to help and explain the process and make the journey a fun one! One of our preferred lenders, Joel Morgan of Options Financial has said that working with the Taubers is like working with your parents (only in a good way!). We are here to help you every step of the way, and we love what we do!
Lou & Jae Tauber
Your Trusted Real Estate Advisors
Licensed in the State of Oregon