4 New Year’s Resolutions for Lake Oswego Homeowners

New Year resolutionYour home is one of your biggest investments, and if you live in Lake Oswego, it is back to being an appreciating one. You want to protect it, so here are a few suggestions for New Year’s resolutions to help you do just that.

1. Make a “honey-do” list from fixing a leaky faucet to replacing the family room carpet. Try scheduling the improvements in the year ahead. You never know when the urge to move may strike and you want to be prepared. Plus, so many homeowners wait to fix things up right before they move and regret not having had time to enjoy some of the improvements themselves!

2. Find out what your home is worth. Your home could be your biggest asset. Factoring that into your financial future is difficult to do if you don’t know its true value. Feel free to give me a call and I can come out and prepare a market analysis based on comparison sales and current market conditions. You don’t have to be thinking about selling—I provide this service to many of my clients who just want to know what kind of value they’re really dealing with. In many cases, others financial decisions rest on this one.

3. Consider refinancing. Interest rates are still low but are poised to increase so now may be a great time to refinance, for a variety of reasons including consolidating your debt. Currently interest rates in the Portland metro area are hovering around these levels for conventional loans up to $417,000 (listed first), and jumbo loans from $417,000 to $4 million (listed second):

30 year fixed – 3.75%/4.0%
15 year fixed – 3.125%/3.5%
7 year ARM – 3.25%/3.25%
5 year ARM – 3.12%/3.274%

4. With that in mind, now is also a good time to use the equity your home has recovered (about 18% in the last two years) to remodel. Once again, knowing what your home is worth can help you in deciding if remodeling is a wise investment – will you get that money back? In most cases in Lake Oswego, the answer is yes. But I’d be more than happy to help you sort out that decision. Call me at 503.939.9801.

Photo credit.

About lovelakeoswego

I feel pretty lucky—I live where I work and I love where I live. As a Realtor in Lake Oswego, I get to share that enthusiasm with clients every day. Through this blog, with the help of my freelance writer wife, Genita, I’d like to share that enthusiasm with you. The quality of life you’ll find in Lake Oswego belies its size—there is so much to experience here from a fireworks show over the lake on the 4th of July to the Festival of the Arts--one of the premier arts events in the region. So please check in each week for another reason why I love Lake Oswego and who knows—maybe you’ll fall in love too! If you’re interested in experiencing Lake Oswego personally, please feel free to contact me either on my cell at (503) 939-9801, via email at kevin.costello@cascadehassonsir.com or check my website by clicking the link in the "Contact me" section in the right-hand column. I would love to show you around.
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