My Blog

Hello everyone,
Jake Planton, a mortgage broker over at Rose City Mortgage, has been kind enough to keep us all up to date on the latest rates in the mortgage market.  See some scenarios below.. Rates are great!  Home prices are great!  It's time to get out there and BUY!
Best,
Blake

Purchase, 20% down, owner occupied, single family residence, full documentation, 740 Fico score, $325,000 purchase price, and a loan amount of $260,000, taxes and insurance as part of monthly payment, 21 day lock.  (If any one of these factors are different, it COULD change the below rates.  This is just a barometer of the current rates).

 

30 Year Fixed with 1% in origination fee : 4.875% (APR 5.035%) ~

5/1 ARM with 1% in origination fee: 5.250% (APR

 

Jumbo- Purchase Price of $700,000, 20% down, loan amount $560,000 (20% down)

 

30 Year Fixed with 1% in origination fee: 5.750% (APR 5.892%)

5/1 ARM with 1% in origination fee: 5.375% (APR 5.512%)

 

ALL mortgage professionals are REQUIRED by LAW to report APR.  If you do not see APR, they are doing something illegal.  HOWEVER, APR is something that can be calculated differently depending on the lending institution.  Rose City’s APR guidelines are copied straight from the state of Oregon.  The real way to compare lenders is to look at RATE and ORIGINATION fee, from the two lenders, on the same day, at the same HOUR .  Keep that ALL in mind.

 

Keep in mind that I will compete for YOUR business, and I would love to compete!

 

www.JakePlanton.com

503-475-3788

 

Below, find a list of the listed units in Portland's Pearl District that have closed in the last month.
If you have any questions on condos in the Pearl or downtown Portland, give me a call.  I'd be happy to help you!

Building Name	Street Address	# of Bedrooms	# of Bathrooms	Square Footage	# of Parking Spaces	Sold Price
Pacifica	1830 NW Riverscape St #407	0	1	764	1	$267,000
	1410 NW Kearney St #914	1	1	837	1	$285,000
Elizabeth	333 NW 9th Ave #713	1	1	993	1	$374,000
Park Place	922 NW 11th Ave #601	1	1	1015	1	$418,500
937	937 NW Glisan St #1235	2	2	1049	1	$486,950
Riverstone	821 NW 11th Ave #423	2	2	1326	1	$542,000
Metropolitan	1001 NW Lovejoy St #809	2	2	1238	1	$628, 750
Park Place	922 NW 11th Ave #1115	2	2.5	1734	1	$795,000
The Casey	311 NW 12th Ave #1203	2	2.5	2652	2	$1,400,000
Metropolitan	1001 NW Lovejoy St PH2	3	3.5	3366	2	$2,500,000

Happy First Thursday, everyone!  It's a nice sunny day in Portland today.
Below, find a list of all the units that have closed in the last month in Portland's Pearl District.  It's a great time to be in the market in downtown Portland.  Great prices on wonderful homes, and interest rates to match!  If you want to find out any more about specific listings or buildings in Portland, let me know, and we'll set up a tour!

Building Name	Street Address	# of Bedrooms	# of Bathrooms	Square Footage	# of Parking Spaces	Sold Price
Park Place	922 NW 11th Ave #714	2	2	1028	1	$430,000
Hoyt Commons	618 NW 12th Ave #217	1	1	783	1	$315,000
Bridgeport	1130 NW 12th Ave #312	1	1	831	1	$280,000
Lexis	1125 NW 9th Ave $420	0	1	566	1	$169,900
937	937 NW Glisan St #632	1	1	943	1	$345,000
The Edge	1410 NW Kearney St #909	1	2	1432	2	$510,000
Metropolitan	1001 NW Lovejoy St #450	1	1	1339	1	$630,000
Metropolitan	1001 NW Lovejoy St #1001	2	2.5	1888	2	$1,236,000
McCormick Pier	710 NW Naito Pkwy  C-1	1	1	691	0	$195,000
McCormick Pier	606 NW Naito Pkwy A-9	1	1	792	0	$187,500
Pacifica	1830 NW Riverscape St #411	2	2	1397	1	$475,000

Join Riverscape Properties and the Northwest Food and Wine Festival for a fall event hosted in the Pacifica Tower at Riverscape.
Enjoy a pinots and ports tasting as well as a great selection of food items.  Art by local area artists will also be on display.  We'd love to see you there!
RSVP appreciated by October 21, 2008 .. Call 1 800 422 0251 x3006 or email me at blake@ellisnw.com to let me know you're coming!

Portland, Oregon's Pearl District has another new restaurant - 50 Plates.  Located on NW 13th and Flanders, this is an upscale take on classic American diner food.  Lots of homestyle comfort food favorites and of course, the desserts.  Dressed up versions of ho-ho's, snowballs, fried cherry pies and of course devil's food cake.  We hosted a birthday dinner here for a frined this past week, and had a really good time.  The space is low key, but dressed up, and the food was pretty good, too.  I've been twice so far, and have tried their "mac and cheese and chicken and fennel" and their "po boy sandwich".  Both were pretty good, but I'd say go for the mac and cheese!

Here's what the founders of the restaurant have to say about their place:
"50 Plates is a restaurant showcasing the cuisine of the American tradition. Of memories – real or imagined – of grandmother’s pies, state fair fries, of date shakes and cheese steaks; a Kentucky bourbon fueled culinary road-trip beyond Route 66, from Smithfield Hams to Ipswich Clams. 50 Plates is the best of red states, blue plates, and everything in between."

Take a trip to 50 states!
333 NW 13th
Portland, OR 97204 (503) 228-5050
www.50plates.com/

Price Range: $$ Accepts Credit Cards: Yes Attire: Casual Good for Groups: Yes Good for Kids: Yes

Takes Reservations: Yes Waiter Service: Yes Wheelchair Accessible: Yes Outdoor Seating: Yes Alcohol: Full Bar