NAR: Interest Rates Near 50-Year Low!

Posted on by Phil Querin
Mortgage rates have just dropped to the lowest level in almost 50 years, compelling both homeowners and home buyers to get off the couch to take advantage of record-level savings on their mortgage. “The average 30-year fixed-rate mortgage hit a record 3.29% this week, the lowest level in its [...]

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Posted in Economic News, Lenders, Market Conditions, News You Can Use, Real Estate General, Residential Housiing | Tagged , ,

Housingwire: Mortgage rates fall to an all-time low

Posted on by Phil Querin
The average U.S. rate for a 30-year fixed mortgage dropped to 3.29% this week Go to link here. [...]

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Posted in Economic News, News You Can Use, Realtors, Refinancing | Tagged ,

When Does The OREF Sale Agreement Become Contractually Binding?

Posted on by Phil Querin
Introduction.  This question is important for at least two reasons: It determines the time after which neither party can withdraw from the transaction without facing legal consequences; and It determines the time from which events, such as contingencies, begin and end. Section 32 [...]

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Posted in Broker Risk Management, Miscellany, News You Can Use, Oregon Law, Real Estate General, Real Estate Laws, Realtor Risk Management, Realtors, Residential Housiing | Tagged ,

Why Oregon Realtors Should Get Out Of The FIRPTA Business

Posted on by Phil Querin
FIRPTA and Buyer Liability. Until the last few years,  the Foreign Investment in Real Property Tax Act of 1980 ("FIRPTA") was just an arcane acronym; most residential real estate brokers had no knowledge of what it stood for, what it was, or how it worked. Fewer cared. After all, they had never [...]

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Posted in Escrow, Miscellany, Realtor Risk Management, Realtors, Tax Issues, Title Insurance | Tagged ,

Who’s Going To Review Your Preliminary Title Report Before Closing?

Posted on by Phil Querin
In residential real estate transactions, there are two basic forms of policies: The Owner’s Policy. This is the standard policy of title insurance that buyers obtain upon closing. In Oregon, customary practice is that sellers pay for this policy. The Lender’s Policy. This is the [...]

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Posted in Miscellany, News You Can Use, Querin Law Legal Services, Real Estate General, Real Estate Laws, Realtors, Residential Housiing, Title Insurance | Tagged ,

Landlord Guidance Under Portland’s Additional Renter Protections

Posted on by Phil Querin
Discussion: The Portland Ordinance, 30.01.085 (“Portland Renter Additional Protections”) here, now in effect, has identified the occurrence of certain events that, if triggered, would require landlords to pay Relocation Assistance (“RA”) to tenants. [References below to the “Ordinance” [...]

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Posted in Landlord-Tenant Laws, Miscellany, News You Can Use, Real Estate Laws, Realtor Risk Management, Rent Control | Tagged ,

Inependent Contractor Resources For Realtors

Posted on by Phil Querin
From the IRS “It is critical that business owners correctly determine whether the individuals providing services are employees or independent contractors. Generally, you must withhold income taxes, withhold and pay Social Security and Medicare taxes, and pay unemployment tax on wages paid to [...]

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Posted in Legislation - Federal, Legislation - Oregon, Miscellany, Real Estate Laws, Realtor Risk Management, Realtors, Tax Issues | Tagged ,

Oregon Contract Law: Offers, Counteroffers, And Their Withdrawal

Posted on by Phil Querin
Generally. In its most basic sense, the OREF Sale Agreement is an offer to purchase property; it describes the price and terms of sale, the contingencies, the closing process, and the closing date.  Once signed by seller and buyer, the document is delivered to escrow and, in most cases, the [...]

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Posted in Broker Risk Management, Miscellany, Oregon Law, Real Estate General, Real Estate Laws, Realtor Risk Management, Realtors | Tagged , ,

Real Estate Professionals and the Qualified Business Income Rule

Posted on by Phil Querin
On January 18/22, the Treasury Department and the Internal Revenue Service issued their final regulations regarding the new 20 percent deduction on qualified business income created by the 2017 Tax Cuts and Jobs Act. Until the regs were finally published, there had been uncertainty about the [...]

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Posted in Broker Risk Management, Legislation - Federal, Miscellany, Realtor Risk Management, Tax Issues | Tagged , ,

Q-Rant! Ted Wheeler Is Looking Through The Wrong End Of The Telescope!

Posted on by Phil Querin
According to Mayor Wheeler in a recent interview with the Oregonian ("Half the arrests in Portland last year were of homeless people. Mayor Ted Wheeler says that’s a problem"), the fact that the homeless accounted for one-half of the Portland arrests last year, was likely due to "profiling or [...]

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