Now may be a great time to refinance your home....

 Interest rates are so low my wife and I had to bite... and refinance our home.  We had done a re-fi a while back to get some money for a something we wanted to do and unfortunately it was while rates had risen a bit. Today the rates are very low and we had to take the opportunity to save some money - we saved about a percent and a half off of our old rate. A percent and a half doesn't sound like much, but in our case it's huge, we're talking hundreds of dollars a month - well worth the minimal effort and time it took to refinance.

  If you have a relatively high interest rate on you home loan, it may be worth your while to make a couple of phone calls or at least go online and inquire at a couple of  mortgage loan sites. They'll likely call you back quickly.  What we found was it's worthwhile checking with a few places... your bank or credit union, a local mortgage company or two and perhaps an online mortgage place or two. We found that the rates they would give us varied,  the ending APR they gave us varied, and the fees they charged varied quite a bit.

  Keep in mind, you'll need to run the numbers before committing. Depending on your credit rating, the size of your loan, time left on it, rate on the original loan, what the fees will run on the refinancing, and a couple other factors, it may not be worthwhile refinancing... or it could save you a lot of money. You'll need to run the numbers, but if it works out in your favor you should consider it.  In our case what we're saving will pay for all of our refinancing costs in about a half a year, the rest is bonus money we can put back into the house , paying off the loan earlier, investing towards retirement or just plain fun. It was well worth it for us.

  For those of you who are considering taking out a home loan to purchase a home... Now is a great time compared to historical rates. There's a chance rates could go either way from here, but current rates are still very low, which could mean lower payments or more house for the same payment  compared to earlier dates... in most cases it's a win.

Interest Rates Hover Near Historic All-Time Lows [INFOGRAPHIC]

Some Highlights

• Mortgage interest rates have dropped considerably this spring and are hovering at a historically low level.
• Locking in at a low rate today could save you thousands of dollars over the lifetime of your home loan.
• Let’s connect to determine the best way to position yourself for a move in today’s market.

Went for a hike out at Finley Wildlife Refuge last weekend...

Sunday my wife and I decided to go for a little bit of a walk out at the Finley Wildlife Refuge about 10-15 minutes south of Corvallis.  We'd never actually been there before so it was great fun visiting a new spot.

We entered from the Bellfountain Road entrance at Finley Refuge Road.  They have the road gated off for now, I believe it's a Covid-19 shutdown thing as the visitor center was closed, but you're still welcome to walk the myriad of trails they have in there.

 We chose to take the Mill Hill Loop trail, which from this entrance is the first trail we came across.  The entire loop from the entrance and back is right at about 4 miles with about a 450 foot elevation change overall.  From the visitor's center I believe it's about a mile shorter of a hike.  I'd say it's an easy to moderate incline in spots, nothing real difficult, otherwise it's a relatively level hike for the bulk of it.

  We'll definitely be going back, there's several hiking trails to explore!

Here's some thoughts on how home sales will shake down once the Covid-19 shutdown restrictions loosen....

Driving around Corvallis it does seem like there are fewer houses coming on the market right now, but I'm also seeing a lot of signs coming down.... people are still buying.  It'll be interesting to see how the local May sales stats look.  Here's a video to check out. If you are thinking about making a move in the future, give me a text or a call.  I'm happy to help if you have any questions.

Looks like people are starting to shift to moving to less populated areas...

A Surprising Shift to the ‘Burbs May Be on the Rise

While many people across the U.S. have traditionally enjoyed the perks of an urban lifestyle, some who live in more populated city limits today are beginning to rethink their current neighborhoods. Being in close proximity to everything from the grocery store to local entertainment is definitely a perk, especially if you can also walk to some of these hot spots and have a short commute to work. The trade-off, however, is that highly populated cities can lack access to open space, a yard, and other desirable features. These are the kinds of things you may miss when spending a lot of time at home. When it comes to social distancing, as we’ve experienced recently, the newest trend seems to be around re-evaluating a once-desired city lifestyle and trading it for suburban or rural living.

George Ratiu, Senior Economist at realtor.com notes:

“With the re-opening of the economy scheduled to be cautious, the impact on consumer preferences will likely shift buying behavior…consumers are already looking for larger homes, bigger yards, access to the outdoors and more separation from neighbors. As we move into the recovery stage, these preferences will play an important role in the type of homes consumers will want to buy. They will also play a role in the coming discussions on zoning and urban planning. While higher density has been a hallmark of urban development over the past decade, the pandemic may lead to a re-thinking of space allocation.”

The Harris Poll recently surveyed 2,000 Americans, and 39% of the respondents who live in urban areas indicated the COVID-19 crisis has caused them to consider moving to a less populated area.Today, moving outside the city limits is also more feasible than ever, especially as Americans have quickly become more accustomed to – and more accepting of – remote work. According to the Pew Research Center, access to the Internet has increased significantly in rural and suburban areas, making working from home more accessible. The number of people working from home has also spiked considerably, even before the pandemic came into play this year.

Bottom Line

If you have a home in the suburbs or a rural area, you may see an increasing number of buyers looking for a property like yours. If you’re thinking of buying and don’t mind a commute to work for the well-being of your family, you may want to consider looking at homes for sale outside the city. Let’s connect today to discuss the options available in our area.