News Headlines for Portland, Oregon : 2011 Quarter 4

12/29/2011

City of Beaverton Wins A $1,000,000 Grant

The name of the Grant is the Sustainable Communities Challenge Grant and it was issued by the US Department of Housing and Urban Development (HUD). The grant's purpose is to help eight key elements of the Civic Plan which was adopted in April of 2011 by the City Council. This grant among other things will help with creeks and natural resources, streetscapes, parking and use, development for the Beaverton Round and Westgate sites, creation of desired development styles, and integrating affordable housing into future development plans. Lots of organizations are partnering up.

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12/23/2011

With Foreclosures Mounting, Experts Say To Reduce Principal On The Loan

Some experts say the answer to our nation's financial woes all tie into the real estate crisis and it's not enough to reduce interest rates but but banks need to reduce principal balances owed as well. The arguments for this approach are by reducing the principal balances to normal levels based upon today's values banks would avoid the many of the foreclosure costs and the homeowners would be able to have extra income to be able to jump start the economy again. The thought is if you have more money to spend and some peace of mind you'll spend it. They claim it can be better for the investor as well because they incur most of the costs in a foreclosure such as legal fees, maintenance costs, sales costs and more. Instead of forking all the money out for foreclosures they should reduce the principle balance and avoid foreclosure and get the homeowners spending money again. Banks and Investors who own the value of the notes disagree with the principal reduction idea, their stance is a deals a deal. If you allow a principal reduction when does it end and then everyone in the entire nation will be coming to get their principal reduction as well.

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12/14/2011

Blackwood Homes Survives Fallen Builders

A quote from the owner Nathan Kairns as stated in the Oregonian, "People are so doom and gloom on housing, but we’re doing really well," he said. “We didn’t have a lot of inventory when things turned bad, and we’ve been able to come in and buy land at a corrected price and are building a good product." He further states that prices may be the same from builder to builder but the product can be widely different and he attributes that to his success.

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