10E // Real Estate & Home Builders Guide // January 2017
37 SE Dorion Pendleton, OR 97801
(541) 276-0021
WHITNEY AND
A S S O C I AT E S
Each Office Is Independently Owned And Operated
Fax (541) 276-6749
www.coldwellbankerwhitney.com
cb@coldwellbankerwhitney.com
Home Buyer's
Glossary
Adjustable-rate
Mortgage (ARM) - A
mortgage for which the interest rate and the
payments change during the life of the loan.
Agreement of Sale - The contract in which the
$682,500
NEW/ BUSINESS OPPORTUNITY
Boomer not Bust/Adult Care Business Opportunity 10,000 people are turning 65
every day in the U.S. This trend will continue for the next 15 years. Adult care homes
For Sale. As an expanding career opportunity, few situations offer more in the way of
contribution, satisfaction and success than does providing superior care to our elderly
neighbors. 2 beautiful homes, side-by-side on a cul-de-sac in SW Pendleton with
views of the Blue Mountains and near the new hospital complex. One home has 6
bedrooms, 3 full baths and 2 partial baths. Second home has 6 bedrooms, 2 full baths
and 5 partial baths. These homes were built for adult care. Seller will carry a contract
for up to 100% of the purchase price to a qualified purchaser.
A zero down purchase. Requires licensed professional to oversee
operations. Need qualified manager to run day to day operations
and be responsible for all facets of care and management. Take
advantage of this wonderful and rare career opportunity. Exclusive
listing with Coldwell Banker Whitney and Associates.
Call Jef Farley at 541-969-9539 for more information.
seller agrees to sell and buyer agrees to buy, with
conditions and terms spelled out and signed by
both parities.
Amortization - A plan for gradually repaying, in
periodic payments, money borrowed.
Balloon Mortgage - A mortgage that has a
large amount of the principle due at the time of
maturity.
Bridge Loan - A loan that finances a mortgage
at the end of one loan and the start of a new
one.
Closing Costs - Expenses and fees that are
added to the price of the property, paid by the
buyer and the seller at the closing. The
Agreement of Sale states who pays which costs.
Commercial Bank - A financial institution
authorized to provide a variety of financial
services, including consumer and business loans
(generally short-term), checking services, credit
cards and savings accounts.
Condominium - The buyer owns title to a
residential unit, shares common areas with other
unit owners and pays maintenance fees to the
condominium association for property upkeep.
Conventional Loan - A loan not guaranteed
by the VA or insured by the FHA.
W H I T N E Y A N D A S S O C I AT E S
37 SE Dorion , Pendleton, OR 97801 • 541-276-0021 • Fax 541-276-6749
d $520,000
MAJOR PRICE REDUCTION!
ENTIRE CITY BLOCK in core of downtown Pendleton.
3 buildings (3 tax lots), old tri-cinema (10k sf), old D & G Gifts
(4k sf), 3rd (1569 sf), 20K+ ( 2 tax lots) parking lot. Prime
downtown location with great visibility. Jef Farley 541-276-
0021. #16603169
$495,000
FOR SALE OR LEASE WAREHOUSE/OFFICE SPACE in
Pendleton Industrial Park at the airport. 2 loading docks and
approx. 6,000 s.f. of warehouse. Approx. 6,000 s.f. of office
space with offices, conference rooms, IT with some
equipment, bathrooms, reception, etc. Located Barnhart Rd. for
easy, flat access to I84. Jef Farley 541 276-0021. #12644123
$494,500
EASY FREEWAY ACCESS/ 1.52 ACRES
EASY FREEWAY ACCESS. 1.52 acres that can be subdivided,
power & water at street for vacant lot. 6,000 sf(/l)
commercial building includes 3 offices, kitchen, and handicap
accessible restroom w/shower. Warehouse has concrete
flooring, truck door for loading, 2 man doors, and extra storage
in loft. Forced air gas heat/cool. Building is metal with a metal
roof for easy upkeep. Nicely landscaped. Call Cari Volger 541-
377-5058cell for an appointment to see this listing. #16273028
$439,000
STATE LINE/ MILTON-FREEWATER
FANTASTIC COMMERCIAL PROPERTY located on HWY 11
North, State Line. Over 8,000 sf(m/l) of office/warehouse space
on a full acre lot. Take advantage of the continuous flow of
HWY 11 traffic to build a high volume customer based business.
Jerry Baker 541-969-6378cell. #16130763
$399,000
19,050 s.f.(m/l) WAREHOUSE IN NE RIVERSIDE AREA of
Pendleton, Or. This building is ready to occupy or convert to
multiple warehouse/storage use. Zoned M1 this building could
be used for manufacturing, wholesale, retail, or industrial use.
Please see the M1 zoning sheets in the disclosures.
This building has been utilized as a grocery store, and as
industrial storage in the past. The building is in excellent shape
with 2 loading docks on the north side, upgraded lighting,
sprinkler system, and has a 1000amp, 3phase electrical service.
More than enough power for most uses. It sits on 2.3 acres so
it has outstanding space and function. The parking lot is paved
and ready for use. This building and lot could not be bought and
built for this price. Prequalified buyers only. Kevin Hale 541-
969-8243cell. #14027997
RV park, retail lot or other commercial business. Owner willing to Please call Kevin Hale 541-969-8243. #15294144
carry contract with 35% down and good credit. Jerry Baker 541-
$50,000
REDUCED/UKIAH/RV
969-6378cell. #16251826
GREAT SET-UP FOR RV with 12’x52’deck with 10’x10’
$295,000
gazebo. City water & sewer hook-ups for 2 RV’s. Landscaped
SOUTHGATE COMMERCIAL LOT. Be located in this premier and fenced with an 8’x10’ storage shed. 50 amp electrical
traffic and business area. This vacant lot is adjacent to the service. Call Jef Farley 541 969-9539cell for more information.
Pediatric Clinic and offers full utilities at the curb and a ready to #1641378 9
build site. Where else can you have access to thousands of
potential clients walk and drive by every year? Please call Kevin $45,500
SUNRIDGE
Hale 541-969-8243cell to find out if this is the right location BUILD YOUR DREAM HOME HERE, close to all Pendleton
for your business. #16559795
amenities. Stick built homes only, see CCR’s. Level vacant lot
with
mountain
views on
edge
of
Urban
Growth
$230,000
Development boundary line. Seller had this flag lot leveled and
17.1 ACRES on Hwy 395 South of Pendleton. This acreage has placed some rock in driveway. 2 Apple trees planted. Recorded
5.7 acres of water rights and can be divided into two parcels. shared access on driveway into flag lot, see plat map. Marsha
Located just to the west of the Hwy 395 bridge over Morgan 541-377-5152cell. #16276937
McKay Creek, below McKay Dam, this offering is close to town
and has direct access to Hwy 395. Seller will have some $45,000
setbacks / building restrictions for the north property line. Kevin GREAT VIEWS/1.49 ACRES ON 2 CITY TAX LOTS. Zoned for
Hale 541 969-8243cell #15607806
stick built or manufactured home. City sewer and water to
property. Call Cari Volger 541-377-5058 cell for
$199,000
11.24 ACRES
more information. #13575330
11.24 acres right outside of town. Two tax lots, each are
buildable. Beautiful location overlooking the Umatilla River and $45,000
PENDING
West Pendleton. Please call Kevin Hale, 541 969-8243cell to A GREAT FIND in city for your new home, manufactured or
learn more. #15179009
stick. Check with City for details to develop. 1.5 acres next to
East end of River Walk Way. Level parcel with utilities near.
$99,900
Call Vicki
Dick
541-969-9441cell for
more
RARE RESIDENTIAL LOT- 9.71 acres overlooking the Umatilla information. #16088762
River, downtown Pendleton, and the Blue Mountains.
Conveniently close to town yet offers country like feel. Access $32,900
on private road, utilities are nearby. This lot will make you think PHASE 3, OVERLOOK TERRACE. Large range of prices and
about building a new home. Zoned R2. Price to sell. Jef lot sizes, several with views. Zoned for manufactured
Farley 541 276-0021. 13112258
homes. Marsha Morgan 541 377-5152 cell.
$89,000
3 tax lots across from old hospital. North lot is currently paved
parking lot. South lot removed building, address is 511 SE 17th.
Zoned Service Commercial (C3), allows for many options, check
with City. Great opportunity for multi-family, office, etc. Medical
facility will be a restricted use. 3 phase power and easement for
state Hwy on North edge. Jef Farley 541-276-0021. #16114613
$32,500
PILOT ROCK/1.14 ACRES
GREAT VIEW LOT perched on the hill in a nice location in Pilot
Rock on 1.14 acres with the potential of dividing/developing.
Sewer is available at the bottom of lot. Perfect for building your
dream home with the potential of partitioning up to 3 additional
lots to offset costs. Property broker owned. Jef Farley 541-276-
0021. #16497070.
$75,500
REDUCED/ACREAGE
BEAUTIFUL MOUNTAIN PROPERTY only minutes away from
Pendleton. 7.32 Acres along Old Emigrant Road. Great views
and very private. Buildable upon securing a conditional use
permit from Tribal Planning. Zoned G-1. Call Jerry Baker 541-
$134,900
LOCATE YOUR BUSINESS with the greatest concentration of 969-6378cell. #16042939
retail and business activity. High traffic counts and zoned C-1
COVE
with many business uses permitted. Corner lot with 100’ $65,000
frontage off of Emigrant. Kevin Hale 541 969-8243cell. COVE/LOOKING for a great location to build your new dream
home? This 2.51 acre lot has lots of potential with
#12422421
beautiful views of the mountains and the valley below. Enjoy the
PREMIER-Commercial lots available:
amenities of the beautiful town of Cove. Carolyn Rovier 541-
Directly across Hwy 395 from the new hospital. 786-0822cell. #16585741
SW 37th Extension is complete and the access road to the
north side of these lots is also completed with SW 32nd Place. $60,000
All utilities installed. Lots are ready to develop or build to your GREAT VIEW LOT! Unobstructed view of Pendleton and the
needs.
Prime location
for commercial
and
business Blue Mountains. This lot is a must see if you are planning on
development, take advantage of the increased traffic flow and building a new home. Don’t wait! Kevin Hale 541 969-8243cell.
ease of access. Lots available from 6.73 acres @ $7.00 s.f., #15332998
1.27 acres @ $8.50 s.f., .75 acres @ $8.50 s.f., .45 acres @
$8.50 s.f. with a total of 9.2 acres available, all can $50,000
be adjusted to suit your needs. Kevin Hale 541-969-8243cell. BUILDING LOT- NOW AVAILABLE. Great location, utilities at
the street/lot. Check this lot out if you are looking to build. Kevin
#11336593
Hale 541 969-8243cell. #15068065
$350,000
HERMISTON
6.29 ACRES OF GROUND ZONED RSC, (Retail Service $50,000
Commercial), between Kik Road and Hwy 395. Includes a 1280 ROYAL RIDGE AREA. Large oversized lot ready to build.
sf(m/l) home, 2 bed, 1 bath. Huge potential for a Desirable corner lot with all utilities and ready to build NOW.
business location with excellent access. Ideal for storage units,
$32,000
ROYAL RIDGE LOT. Top quality homes in this area help to
maintain the value of your home. Owner has topo map for the
buyer to site their home on the lot. Unobstructed views of the
Blue Mountains. This is a wonderful lot to build on. Kevin Hale
541-969-8243cell. #16526653
$29,500
BUILDABLE LOT IN RICE ADDITION. Large oversized
lot, graded for a daylight basement. If you are ready to build, be
sure to check this lot out. Call Kevin Hale 541-969-8243cell for
more information. #15120074
$29,000
BLUE MTN. HEIGHTS - Buildable lot ready for you to start your
new home. Water and sewer at the street. Very affordable at
$32,000. Call Kevin Hale 541-969-8243 cell to learn more.
#10053700
$29,000
NEW
READY TO BUILD LOT. 6510 s.f.(m/l) on a quiet cul-de-sac.
This flat lot has all City services and utilities. 3520 NE King
Place. Easy access to Highway 11. Kevin Hale 541-969-
8242cell. #16391568
$18,500
PENDING/ATHENA
BUILDABLE ATHENA LOT. .15 acre between 1st and 2nd from
Washington St.
Call Jerry Baker 541-969-6378cell for
more information. #16319394
Co-op - In exchange for the right to occupy a
co-op unity, the buyer owns shares in the co-op
corporation (made up of co-op residents), rather
than owning real property.
Debt-to-income Ratio - A percentage arrived
Federal National Mortgage Association
(FNMA or Fannie Mae) - A privately owned
and managed corporation that purchases
mortgage loans originated by other lenders.
Fannie Mae issues stocks and securities to
obtain funds for its purchases.
Fixed-Rate Mortgage - A loan that has one
set interest rate. Installment Debts - A buyer's
long-term debts; they usually extend for periods
longer than nine months.
Intermediate-term Loan - A home loan of
less than 30 years.
Life-of-loan Cap - A consumer protection on
some adjustable loans. It limits the total upward
adjustment that may occur during the life of the
loan. Also known as an overall cap.
Loan-to-value Ratio - The relationship
between the amount of a home loan and the
total value of the property. Lenders may limit
their maximum loan to 80-95 percent of value.
Lock-in Rat e - A rate commitment made by
lenders when making a mortgage loan to
commit to or "lock in" that rate pending loan
approval. Lock-in commitment periods vary.
Market Value - The highest price the buyer is
willing to pay for a property and the lowest
price the seller will accept.
Mortgage - A lien or claim on property given
by a buyer to a lender as security for money
borrowed.
Mortgage Broker - An individual or company
that obtains mortgages for others by finding
lending institutions, insurance companies, or
private lenders to lend money.
Payment Cap - Limits the amount that a
monthly payment on an ARM loan can increase
at the time of adjustment.
at by dividing the borrower's fixed monthly
obligations by the borrower's monthly income.
Points - One percent of the amount of the
mortgage loan.
Due-on-sale Clause - A mortgage stipulation
demanding payment of the entire loan balance
upon sale or other transfer of the real estate
securing the loan.
Prepayment - Payment of a mortgage loan,
Equity - The ownership interest remaining in
property after payment of all liens or other
charges on the property.
Escrow - Funds left in trust with a third party, to
be paid to a designated recipient at a
designated time.
F ederal Home Loan Mortgage Corporation
(FHLMC or Freddie Mac) - A quasi-governmental
secondary market agency that purchases whole
mortgage loans. Freddie Mac sells interest in
pools of mortgage loans to obtain funds for
mortgage loan purchases.
Federal Housing Administration (FHA ) - A
government agency within the Department of
Housing
and
Urban
Development
that
administers many programs involving housing
loans made from private funds, including
mortgage insurance for lenders and rent or
interest assistance for low-income tenants and
mortgagors.
or portion of the loan, before the due date.
Prime Rate - The interest rate that banks
charge to their preferred customers. Changes in
prime rate are used as indexes in some
adjustable rate mortgages, especially home
equity lines of credit.
Principal - The basic loan amount, separate
from interest, insurance, and taxes.
Private Mortgage Insurance (PMI) - The
insurance coverage offered by a private
company that protects a lender against loss on
a default mortgage loan. Its use is usually limited
to loans with high loan-to-value ratios. The
borrower pays the premiums.
Title - Proof of ownership.
Title Search - A check of title records to assure
that the buyer is purchasing property with no
liens, encumbrances, or other claims which
might adversely affect the title's value or
marketability.
Veterans
Administration (VA) - A
government agency that helps veterans of the
armed forces obtain housing.
Eastern Oregon
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