In 2009 the Bella Casa Real Estate Group helped more buyers than any other brokerage in Yamhill County, and ranked #2 for total volume of sales. We’re pretty excited of those statistics, especially given that the Bella Casa brokerage is less than 3 years old!

The McCreith Team is proud of our sales record, but it’s really not about closing the most deals. Our greatest pride is in creating a positive real estate experience and financially profitable transaction for each of our clients. The McCreith Team is dedicated to serving Yamhill County and the greater Portland metro areas with the highest standards of excellence. We are optimistically hopeful and excited about 2010!

Betty Jung All About…Portland, Oregon Real Estate

Many properties throughout our rural areas have wells for their primary source of drinking water. Effective January 1, 2010, sellers are required to test for arsenic in certain wells upon accepting an offer.

This year, the Oregon State Legislature passed Senate Bill 739, which requires testing for arsenic be added to the required tests for coliform bacteria and nitrate in well water. The tests are required for any property transaction that includes a well providing ground water for human consumption.
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By Randy McCreith, Principal Broker

Click Here to View the Market Action Report- November 2009

You would think it is Christmas! The numbers in November’s report look like an remarkable gift. 72.4% increase in closed sales compared with last November, and 19.9% increase in pending sales; this is the largest increase on record! The previous record was 56.9%. Read on…
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“Location, Location, Location!” Everyone knows this is the most important consideration affecting value in real estate. But there is even more to it than that. The most basic principle for understanding and evaluating all real estate is this: All Real Estate is Local. It is very, very local, right down to the individual property. More… »

A commentary by Yamhill County Tax Assessor Scott Maytubby for The News Register, published November 7, 2009

Despite the fact that we receive tax statements in the mail every fall, most people are not aware of how Oregon’s property tax system works. If you are like the vast majority, you probably just pay your taxes and never question the amount or the values on the statement.

This year, however, lots of people are asking how their property taxes can go up when the real market value of their homes is going down. This is a good opportunity for me, as Yamhill County’s new assessor, to explain how the property tax system works.

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Scenario 1

I am an existing homeowner. On October 25, 2009, I signed a contract to purchase a new home. I have lived in my current home for more than 5 consecutive years and am within the new income limits. I will go to settlement on November 20. Since the new law has gone into effect, will I qualify for the new $6,500 tax credit?

Answer: Yes. The existing homeowner credit goes into effect for purchases after the date of enactment (Friday, November 06, 2009 – when the bill was signed). There is no reference to the date of contract for the new credit. The provision looks solely to the date of purchase, which is generally the date of settlement.
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Q. Can homebuyers claim the tax credit in advance of purchasing a property?
A. No. The IRS has recently begun prosecuting people who have claimed credits where a purchase had not taken place.
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Updated November 16, 2009

Summary:
The Homebuyer Tax Credit, due to expire on November 30, has been extended and expanded in an effort to stimulate the housing sector. The new law, effective November 6, 2009, will continue to offer an $8,000 tax credit for first-time home-buyers, and now allows a $6,500 credit for many other home-sellers who purchase.

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Updated November 6, 2009

Congress and the President have approved and signed a measure to continue offering a tax credit to first-time homebuyers and will offer a new tax credit to many buyers who already own homes. First-time homebuyers have been receiving tax credits of up to $8,000 since January as part of the economic stimulus package enacted earlier this year. But with the program scheduled to expire at the end of November, this legislation extends the credits to June 2010.
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