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Tom Inglesby gives so much added value to the home buying experience. He's not only patient, hard-working and knowledgeable about local real estate markets, he's got the eye of a visionary remodeler who has thoroughly researched the latest green and energy-saving practices. He knows what he's talking about. His advice is reliable, to-the-point and up to date.Diane AngeloI met Tom through my Uncle back in 2012. I live in San Francisco and have always thought about owning an investment property in Beaverton 97006 area. Tom has been helping me with finding the right investment property ever since we first spoke. Finally in August of 2014, we closed on a property in 97006 where my tenants are happily residing for two months by now. I trust Tom with many things during the process especially his takes on the neighborhood(I live in SF so I'm not too familiar with the area), potential repairs I may end up doing, rent estimate and potential for future gain in price due to upcoming developments in the area. Honest man who puts his clients first priority such as Tom should be endorsed by all of his clients. My friendship with Tom will continue on.Htin Aung
Answers (127)Displaying: 50 Most Recent AnswersAnswered: Aug 5, 2015In answer to: Any lease to own or seller carries contract homes?You should not consider a lease to own here is why. The old days you could get credit for the rent you paid, today you cannot do that per the new lending rules. If you decided to go into a lease option you need to pay rent and then give the seller some option money over and above rent maybe $200 and this money could be applied towards your down payment. You have a set time that you must buy the house or you lose the money. When do you think you will have your credit up to 690? I would not bet $4000-6000 that you would know when a lender would give me a loan? Oh and another thing the seller locks the price for you today and then sells you the house in three years. I really dont see that happening. Your credit score is low and you will need to get at least up to 690. I am not a mortgage broker but that is what they tell me is the starting point for getting a loan. Good luck to you and the best thing to do is try and pay down your debt the best you can. TomAnswered: Aug 5, 2015Who ever posted the ad needs to remove it. TomAnswered: May 13, 2015Did the mortgage broker give you pre approval to buy the home with out selling your existing home? They might have just given you a pre qualified approval which means they really did not look at all your credit information. That's to bad because you spent money on inspections and now you will lose the house unless you can talk the owner in to waiting for you to sell your house. Good luck to you. TomAnswered: May 4, 2015The paper work has to be prepared with only the names on the loan you cannot add a name at closing. Talk to the lender. good luck.Answered: May 2, 2015You signed a contract with your listing agent. They cannot split a commission with a person that is not a broker. Good luck to you.Answered: May 1, 2015You should Not be paying for a credit check from a lender. USDA lending ratios are tighter than FHA so that probably is you only choice. You should be able to possibly get a loan with that score. Since no one has responded to you I would call a local real Real estate company and ask the broker for a referral of an agent that deals with FHA and start over. Don't chase that lender or agent any more. Good luck to you.Answered: May 1, 2015The way the market is $50,000 will not buy land today. Good luck to you.Answered: May 1, 2015In answer to: How do I up-date my home # of bedrooms?You don't say where you want to update the number of bedrooms? On this site on your tax statement? Could you be more specific? ThanksAnswered: Apr 16, 2015In answer to: Any lease to own around Portland, Oregon?Lenders change the lending rules all the time So never go b into a rent to own. Work with a lender that can help you increase your credit score. I have a lender that can help you for free here in Portland . Call me.Answered: Apr 16, 2015In answer to: Any lease to own around Portland, Oregon?Don t even consider a lease to own. If you cannot qualify today what makes you think you will qualify in 1 or 2 years. The mortgage companies could change the rules agaim.work with a lender in getting your credit score up. I jVe a lender that will help you for free. Email me in portland. Good luckAnswered: Apr 6, 2015Very active area out there. What I would suggest is start looking now. I just sold a 1000 sq ft house in Cornelius for $203,000 on market 2 days. Get yourself pre approved so you know exactly what your price range is and line up the financing. Sellers will not look at offers with out a preapprove letter. This price of home moves very quick. Values are going up $1500 a month with rates below 4% homes are very affordable and first time buyers and investors are very active. Let me know if I can help you.Answered: Mar 26, 2015Every bank is different depending on the process but figure 30-45 days on average. Cash might speed it up but not always. Cash many times is the only way to buy the property so thinking you will steal it is not really true when the only way to buy is cash. We are seeing 30-40% of buyers paying cash depending on property location and price. Good luck to you.Answered: Mar 26, 2015The banks are getting into your pockets with auctions/ foreclosed homes in that they have a 5 or 7% fee on top of price or a flat fee of $10,000 on top of sales price so you need the extra cash since most lenders will not finance that. Cash is the way almost all are sold since you cannot inspect the house or get in if there are renters and if there are liens or HOA fees owed you get to pay for those even if you do not know about them to clear title. These are not for the buyer looking to finance the property. It is hard to get into many of these so Good Luck.Answered: Mar 26, 2015look at craig's list but do not send in any deposits, drive by homes to see if they are for sale and many are. there are many scammers out there since rentals are so hard to find. Our office gets many calls a day looking to rent homes. good luck to you.Answered: Mar 26, 2015The banks are getting into your pockets with auctions in that they have a 5 or 7% fee on top of price or a flat fee of $10,000 on top of sales price so you need the extra cash since most lenders will not finance that. Cash is the way almost all are sold since you cannot inspect the house or get in if there are renters and if there are liens or HOA fees owed you get to pay for those even if you do not know about them to clear title. These are not for the buyer looking to finance the property. Good LuckAnswered: Mar 6, 2015I don't think there are any homes available at under $50,000 unless they are manufactured homes since land is now $50,000 or more for a lot just about anywhere. TomAnswered: Mar 6, 2015You need to talk to a lender as your first step in wanting to buy property. email me and I will give you a lender that will explain what it takes to buy a property. thanks tomAnswered: Mar 6, 2015Yes they have to be closed. Those open lines of credit are not like they used to be, the banks can stop them at any time so it is hard to plan on them in the future. good luck to you, TomAnswered: Mar 6, 2015All you have to do is qualify for the loan. If does not matter who is selling or buying. FHA has easier qualifying ratios but the fees are really high and if you could qualify for a 10% or 5% conventional loan you would be bettor off since the mortgage insurance now on a FHA loan never goes away like it used to once you had 20 % equity. Good luck and talk to a lender. I know a good one in Seattle. TomAnswered: Mar 6, 2015As Tom Marks stated, do not look to buy a house at auction. Many times there are 30 day closings no inspections and you lose your earnest money if you do not close. I have one going right now where the buyer has to pay $7000 reserve fee on top of the sales price and it is really a cash deal since you cannot get a rehab loan in less than 45-60 days. Some programs make you pay to turn the water and heat on and then you have the property in your name last and, you get the over due water bill sent to you. Cash talks in the Portland market with some times 10-25 offers on a house but no one like the buyer reserves we are seeing that more now buy the banks. Good Luck to you. the other TomAnswered: Mar 6, 2015Lisa you mentioned your credit is bad. The worst thing you can do is get yourself into a lease option to own. If you do not have good credit today who is to say the lenders 2 years from now will not have tougher guidelines and you want to put your self in that position. Let me give you some back ground information in the 80's. Lenders could give you rent credit towards your down payment. Today you need to put up option money and if you cannot buy the house by the specified date you lose that money. Worse yet, you are paying rent and then also a kicker on top of rent that will go towards your down payment but if you do not close you lose that money also. Does this look like a good deal to set your self up in? Back 10 years ago you could buy a house with 625 credit score now I think it is about 660 but it is hard if you have some dings on your credit. I know a lender that has a person on staff that will help you free of charge to get you going in the right direction so maybe in a year or two you can buy there are some low down payment loans available. Email me and I will get you the information. I help a lot of first time buyers or people with credit problems I have a short sale CDPE license. Good luck to you. TomAnswered: Feb 16, 2015I can help you with that. What price is your final total package for land and house. Call me. Tom InglesbyAnswered: Feb 16, 2015A contract is required in real estate and you signed one. You need to talk to agents broker, in Oregon we can exclude buyers for 10 days in situations like this, you don't mention the time line. Good Luck to you. TomAnswered: Feb 16, 2015Once information is on the internet it is posted so many places you will never get it off and so much of the time it is wrong. Not sure where you live but in Portland Or the city of Portland employees are checking sold homes and web sites that show improvements and going back and charging you for back taxes. The permit center and tax center are two different areas so they don't mix information so the three counties in Portland filed 6000 tax increases with a minimum of $4000 and it is due in 30 days. I would watch what you post and brag about your new remodel on line and on websites that want you to show off your new improvements. Good luck, Tom InglesbyAnswered: Jan 28, 2015Give me a call, I might be able to help you with some ideas. ThanksAnswered: Jul 17, 2014In answer to: how do i get an address for my property in Oregonyou use the Tax id number and that is how it is identified or you can say west of address. Good Luck Tom InglesbyAnswered: Feb 24, 2014Foreclosures will always be here but they are decreasing. There are lists as Lana said but banks are not selling in advance of the open market and we are seeing banks holding the prices now compared to a couple of years ago but with rates as low as they are the payments are still lower in most cases than 2006-7 when rates and prices were much higher. Good Luck, Tom Inglesby, Broker RE/MAXAnswered: Feb 24, 2014In answer to: How can I list my home here to rent?There is a rental section on this site. You need to fill out that area. Good Luck, Tom Inglesby, Broker RE/MAXAnswered: Feb 24, 2014In answer to: How do I find the Foe sale by OwnersThis site is not a for sale by owner. I can help you if you would like some help. I have rentals but I am not sure what you are looking for? Tom Inglesby broker RE/MAX 5033-99035Answered: Feb 3, 2014Your credit score is proably to low to get a loan today. Contact a local lender. All debts go against your ratios. About the lowest credit score I am seeing is 690 in buying a home. Get pre approved so you know what you can and cannot afford. Good Luck Tom Inglesby, Broker RE/MAXAnswered: Feb 3, 2014Rent to own is a night mare. Say 6 years ago you went into a rent to own. The lending rules today are almost 100% different in how you can buy. Say the old way is once you had 25% down you did not need to qualify for a loan today you need to no matter how much you put down it depends on your income and credit score that is a surprise to self employed people that show a lot of expenses but when you are buying a house the lender looks at net income and many buyers that want to buy with 25% down that could qualify in the past are out of luck today. Even the credit score is way up compared to 5 years ago. So today you go into a rent to own only rent amount above fair market rent can be applied as a credit to you. In the past the seller could credit you your rent. No one knows what the lending rules will be 2 years from now but I would never suggest someone enter into a rent to own unless an attorney drew up the papers and explained the pros and cons and I would talk to a lender to see what they thought of your plan and what happens if the agreed to price in the future say the house does not appraise for the price? There are just to many issues and a cloud on the title for everyone. Good Luck to you. Rent to own helps an investor when the buyer cannot get a loan in the future. Tom Inglesby, Broker RE/MAX equity groupAnswered: Feb 3, 2014Try to contact the help line here and see if they can help you. Good luck. Tom Inglesby, Broker RE/MAX equity group here in Portland, Or.Answered: Nov 18, 2013Could you supply the address? thanksAnswered: Nov 18, 2013Usually on the listing it has contact information at the bottom so check there. Good Luck.Answered: Nov 18, 2013In answer to: does it come with all of the stuff inside or notPlease supply the address to see what property you are talking about?Answered: Nov 18, 2013This house is in the middle of a residential neighborhood called Indian Hills. Give me a call if you would like further information. How can I help you?Answered: Sep 27, 2013Margaret where are you looking for an apartment? I could send you in the right direction but the market here in Portland is very tight. How much do you want to spend and do you have a first and last month reserve and do you have good credit and a job that you have been at awhile? These questions will help. You can contact me at my email. Thanks, Tom Inglesby, Broker, REMAX equity groupAnswered: Sep 10, 2013In answer to: how do i list my property?George, do you want to list your property in MLS service or here on this site. This site is for agents. Please update us on where you are at it sounds like you are in central oregon. I am in Portland and I could give you a referral agent to talk to. Good Luck Tom Inglesby, Broker RE/MAXAnswered: Jul 15, 2013In answer to: Any lease to own homes in Portland Oregon?Here are some questions to ask yourself? Why do you want a lease to own? You cannot use your monthly payments towards your downpayment like the good old days. Do you have option money that you can use as risk money and affrord to lose it if you don't qualify for a loan? Can you qualify for a loan 2 years from now if the rates go up? what is the price going to be set at today or a future price and who knows what that will be? There are many problems with these types of contracts. I would be happy to ceheck to see if I can find any that fit your needs. Email me. Thanks, Tom Inglesby, Broker, RE/MAX equity groupAnswered: Jul 12, 2013That is pretty far out to pay it off. Just try your best to get it paid and get a rescore on your credit as close to trying to rent a new place so it will show up. If you are in Hillsboro our market is really tight now and land lords can be tight on who they rent to. Good luck, Tom Inglesby, Broker, RE/MAXAnswered: Jul 12, 2013they are Rummer homes I think from where you are looking but the address should have a 13870 SW Bonnie Brea designed in the 60's there is following of this builder/ designer and there are maybe 100 homes in Portland and Beaverton in some pocket areas. I am very familiar with them and there are some for sale right now. give me a call or email me and I can fill you in. Good Luck, Tom Inglesby, Broker, RE/MAXAnswered: Jul 12, 2013you might go to the city and see if the architect is listed. I cannot find that address. I think you meant 13870 Bonnie Brea and many homes in there are Rummer's a Califronia architect or Eiklers and there was an article in the paper 2 weeks ago. These are unique and only built in a few areas in Portland. There are a couple for sale. email me and I can fill you in. Good luck, Tom Inglesby, Broker RE/MAX Equity GroupAnswered: Apr 14, 2013go on this site and look for rental for the area you want. We are in a tight rental market less than 3% vacancy rate. Everything rents for $1 foot or more good luck. tom Inglesby, Broker RE/MAXAnswered: Apr 13, 2013When you remodel and get permits for the work then the tax assessor has a better idea on your value. If want to pay more taxes and then call them up and get them to come and take a look at your fine work and then as a thank you you get a tax increase. Values on these sites are at best a guess up or down 10-15% so that really is not something to worry about even if you are selling today. I don't know my Realtors that use these sites to price a house. Nothing is better than the local real estate expert for home values. Good luck to you. Tom InglesbyAnswered: Sep 25, 2012which house are you looking at? Many times these sites are wrong and have old information. I can get all the forclosed homes that are HUD or bank owned on my site and any listing. Give me an email and I can help you. Tom Inglesby BrokerAnswered: Jun 25, 2012As mentioned the 3.5% down FHA loan program. But you will still need about 6% more in closing costs to make the downpayment that the seller can help you with. There is also the American dream program in targeted areas that does not have mortgage insurance premium which can be over $100 per month on top of your loan on a $100,000 mortgage and you can get in with 3% down but you will still have about 9% total costs to buy a house thru that program. FHA has really raised their up front fees. There is also a 203K rehab loan that you can get up to $30,000 to remodel and buy carpet and appliances and windows and furnace so get with a lender in your area and discuss these programs. US bank does not do 203K loans. Good luck, TomAnswered: Jun 25, 2012I am currently talking to a seller that has a 2100 sq ft single level built in 1960 3bd 2 bath and has a 700 sq foot attached apartment all on one level it will be about $440,000. This is close in Raleigh Hills with low Washington county taxes. Call me if you need this or we can search on line but they are hard to find. Thanks, TomAnswered: Jun 5, 2012Most of these websites draw the information from city or county records. There is nothing wrong when you have a low assessment unless you feel the the assessment will mean the house value is not high enough. Most values are never assessed 100% true value. Contact this website and see what they will do but check the county or tax records first. Many times we see the wrong information listed from the counties. Good Luck Tom InglesbyAnswered: Jun 5, 2012Rents in Portland are high. The farther you go out of town 10-20 miles rents goes down. Check on Craigs list, property management companies and on this site. Good luck to you. TomAnswered: May 31, 2012Yes but there is a price you will have to pay for risk. Apply and tell them your situation and good luck to you. Tom
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New on Our BlogHow to Give Home Buyers What They Really Want Shashank Shekhar Are you finally considering dipping your toes in the market - now that you have recovered enough equity to get a check at closing, rather than write one? Before listing and during the listing preparation phase, you should take a hard look at the demographics of your neighborhood. Who lives there now? Who do you see moving into the neighborhood? What renovations are other sellers completing as they list? And who...
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