Category Archives: News You Can Use
← Older postsBuying a Condo or Townhome – Due Diligence and Traps for the Unwary
October 17, 2021 by Phil Querin
Introduction. For some reason, buyers – and occasionally their agents – seem to regard condo transactions as demanding less due diligence. Perhaps it is because they are seemingly just a container of air, surrounded by general and limited common elements. Townhomes, although subject to slightly different laws, are viewed much the same as condominiums. To […]
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Posted in Broker Risk Management, Condos, Miscellany, News You Can Use, Realtor Risk Management, Realtors, Residential Housiing, Townhomes | Tagged Real Estate, RealtorsOregon’s Long-Ignored Seller Property Disclosure Form – PART ONE
May 23, 2021 by Phil Querin
Introduction. Oregon’s property disclosure law was first created in the 1993 Legislative Session – nearly 30 years ago. This was back when the idea of sellers having to “disclose” any information about their homes was a foreign concept. Short of outright fraud, caveat emptor[1] was the rule of the day. Of course, if a seller […]
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Posted in Legislation - Oregon, Miscellany, News You Can Use, Oregon Law, Property Disclosure, Real Estate General, Real Estate Laws, Realtor Risk Management, Residential Housiing, Townhomes | Tagged Property Disclosure, Real Estate, RealtorsInterest Rates Dropping – Again!
May 24, 2020 by Phil Querin
In a recent Housingwire.com article (here) by Kathleen Howley, we learn that the current average 30-year mortgage interest rate of 3.24% is within one basis point[1] of its all-time low of 3.23%. According to article: Fannie Mae projected last week the average this quarter would be 3.2%, followed by 3.1% in the third quarter and […]
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Posted in City of Portland, COVID, Economic News, Fannie&Freddie, Interest Rates, Miscellany, News You Can Use, Real Estate General, Realtor Risk Management, Realtors, U.S. Economy | Tagged Interest Rates, Market Conditions, Real Estate, RealtorsZOOM Couture
April 18, 2020 by Phil Querin
According to Family Court Judge Dennis Bailey of Broward County, Florida, ZOOM hearings have become way too casual. This, according to a recent ABA article (here) by Debra Cassens Weiss. It seems Judge Bailey, in a letter to the Weston Bar Association (here), had grown tired of seeing attorneys during Zoom hearings appearing in decidedly […]
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Posted in Miscellany, News You Can Use, Q-Rants | Tagged Lawyers, Q-RantsIs COVID-19 a Defense to Breach of the Oregon Real Estate Sale Agreement?
April 14, 2020 by Phil Querin
Introduction. Almost as soon as the COVID pandemic flared up, I began to receive calls asking whether the virus could constitute the basis for refusing to perform under a pending Sale Agreement. One broker reported that the buyer wanted out of the contract because of “uncertainty”. These are not altogether unreasonable reactions to performance; after […]
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Posted in Broker Risk Management, COVID, Market Conditions, Miscellany, News You Can Use, Oregon - Economy, Real Estate Laws, Realtor Risk Management, Residential Housiing | Tagged COVID, Market Conditions, Real Estate, RealtorsNAR: Interest Rates Near 50-Year Low!
March 8, 2020 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 nearly 50-year history,” said Sam Khater, chief economist […]
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Posted in Economic News, Lenders, Market Conditions, News You Can Use, Real Estate General, Residential Housiing | Tagged Market Conditions, Real Estate, RealtorsHousingwire: Mortgage rates fall to an all-time low
March 5, 2020 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 Market Conditions, Real EstateWhen Does The OREF Sale Agreement Become Contractually Binding?
February 22, 2020 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 (Definitions/Instructions). Here is what the Sale Agreement says: (8) The phrase “signed […]
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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 Real Estate, RealtorsWho’s Going To Review Your Preliminary Title Report Before Closing?
July 20, 2019 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 policy required by lenders when they make a residential purchase […]
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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 Real Estate, Title InsuranceLandlord Guidance Under Portland’s Additional Renter Protections
July 4, 2019 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” will refer to 30.01.085; references to the Oregon Residential Landlord-Tenant Act, ORS Chapter 90, will be referred […]
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Posted in Landlord-Tenant Laws, Miscellany, News You Can Use, Real Estate Laws, Realtor Risk Management, Rent Control | Tagged Real Estate, Realtors
