Logo
ISSUE #33.22 • SPECIAL SECTION •

HABITAT: Way of the Ninja


Secret tactics for stealthy househunters

Share: | Permalink
Email | Print | Rate It! | 0 comments
Recently in "Special Section"

June 10th, 2009
Yes We Canoe | I paddled the Willamette, and so can you.0 comments

June 10th, 2009
I’d Like to Give the World a Frank | Hot dogs are the U.S.A.’s gift to the world. Don’t defile them with ketchup. Ever.0 comments

June 10th, 2009
Cover Story • Down and Out in the City of Roses | WW’s guide to enjoying the summer, economy be damned.3 comments

June 10th, 2009
Sundays In The Parkway With Everybody | The City’s Sunday Parkways program is back—three times over.0 comments

June 10th, 2009
Summer Soundtrack | Five albums to rock your world for the next three months.0 comments

June 10th, 2009
Cinema Al Fresco | Get your movies out of the theater.0 comments

June 10th, 2009
Baby Got Bach | The best of the Summer’s non-pop music festivals.0 comments

June 10th, 2009
Put A Cork In It | All right, so liquor ain’t cheap, but don’t whine—make wine!0 comments

June 10th, 2009
Holes For Dips | Whatever your dysfunction, we have a swimmin’ hole for you.0 comments

May 20th, 2009
Drink Top Fives | Our Drink Guide list of lists.0 comments

BY LIZZY CASTON | lizzyis2 at yahoo dot com

[April 11th, 2007] The housing market has cooled since last year. The bad news: In a city like Portland where people are still U-Hauling it into town daily, this just means a house may sit on the market for five days rather than two, and prices aren't necessarily dropping. Sometimes a first-time buyer needs a more creative approach. Besides trolling obituaries for "upcoming opportunities" or walking door to door asking if anyone wants to sell, there are other options.

Rent to own: This basically comes down to striking a rent deal that includes a contract for purchase. This allows the buyer more time to get a down payment and build a better credit score before the sale goes through. There are downsides, however—make sure that the contract is tight and there is a fair and agreed-upon out option for both parties.

Ask your landlord: It worked for me. My landlords were tired of maintaining two homes and needed some cash due to a new baby, and selling directly to their tenant saved them a lot of money in realty fees. In turn, I was given a fair selling price, knew exactly what kind of house I was getting and, best of all, didn't have to hire a mover. However, it is a good idea to at least retain a Realtor to make sure all the paperwork is on the up and up.












icon Story continues below

advertisement

advertisement

Buy a house with a friend: Buying a duplex or turning a single-family house into one can make mortgage payments doable. The downside: Even best friends can turn into mortal enemies should things take a turn for the worse. Clearly work out all expectations, "what ifs" and financials beforehand, and document them in a legally binding agreement.

The bank of mom and dad: It's a not a state secret that many of our friends have asked for some help from their folks. Even if your parents can't help with the cash, if they have good credit and some collateral, they might be able to cosign and get a reduced interest rate and waived mortgage insurance, thus saving you hundreds of dollars each month in fees and interest.

Finally, hang in there. Sometimes becoming a homeowner just takes time. Over 56 percent of Portlanders own their own homes, according to the Census Bureau. And since we all know you are smarter than they are, someday you will, too.

HABITAT: Table of Contents
The Plunge
Become Donald Trump in One Day!
A Renter's Survival Guide
I'm Buying a What?
Way of the Ninja
Guns for Hire
Cracking the Code
What the Hell Does $250K Buy, Anyway?
The Final Frontier
Sweat Equity?
Armed & Dangerous

 












Rate This Story
Be the first to rate this story.

 
read all 0 comments | add your comment
 

RECENT COMMENTS ON “HABITAT: Way of the Ninja”

 
 
 






Ad

Ad

Ad

Sponsored Links: WW Personals
Musician's Market
Snowboard Jackets
Legal Tips


Recently in Willamette Week
December 31st 1969Washington State | The Canada of Oregon has it all—a Stonehenge replica, a longboarder's concrete wet dream and dark, damp underground lava caves. Vive les rocks.
December 31st 1969Oregon's Outer Edges | Crater Lake. Hell's Canyon. Wallowa and Steens mountain ranges. Hell, yeah.
December 31st 1969Central Oregon/High Desert | No rain, plenty of snow, obsidian flows and great local beer. The folks from the real eastside know how to unbend outside.
December 31st 1969Great Cascades/Columbia Gorge | With plenty of room to roam—and hot springs for your weary feet—it's the place to ramble and relax for the weekend.
December 31st 1969Willamette Valley | Monks, tracks, tubing and wine make the fertile strip a virile place to play.
December 31st 1969Stumptown | Tons of public parks, an extinct volcano and nude beach volleyball to keep you jolly. Get out and collect those merit badges, without leaving the city.
December 31st 1969The Coast | The beaches are public. You own them. Go play—hike in the old-growth forests.
December 31st 1969Cycle Tour 101: Your on-bike guide to Highway 101 | To ride the greatest bike route in Oregon, you need to get out of Portland.
December 31st 1969Doggin' It | What happens when a Portland running club jogs with pooches from the pound?
December 31st 1969Over the Edge | Sam Drevo will paddle yr ass.