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About East Oregonian : E.O. (Pendleton, OR) 1888-current | View Entire Issue (Feb. 3, 2017)
10E // Real Estate & Home Builders Guide // February 2017 37 SE Dorion Pendleton, OR 97801 (541) 276-0021 WHITNEY AND A S S O C I AT E S Each Offi ce 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 10h000 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 opportunityh few situations off er more in the way of contributionh satisfaction and success than does providing superior care to our elderly neighbors. 2 beautiful homesh 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 bedroomsh 3 full baths and 2 partial baths. Second home has 6 bedroomsh 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 qualifi ed purchaser. A zero down purchase. Requires licensed professional to oversee operations. Need qualifi ed 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 tel:(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 tel:(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 $385,000 REDUCED/ STATE LINE 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 retail lot or other commercial business. Owner willing to carry Farley 541 969-9539cell for more information. #16413789 contract with 35% down and good credit. Jerry Baker 541-969- $45,500 SUNRIDGE 6378cell. #16251826 BUILD YOUR DREAM HOME HERE, close to all Pendleton amenities. Stick built homes only, see CCR’s. Level vacant lot $295,000 SOUTHGATE COMMERCIAL LOT. Be located in this premier with mountain views on edge of Urban Growth Development traffic and business area. This vacant lot is adjacent to the boundary line. Seller had this flag lot leveled and placed some Pediatric Clinic and offers full utilities at the curb and a ready to rock in driveway. 2 Apple trees planted. Recorded shared access build site. Where else can you have access to thousands of on driveway into flag lot, see plat map. Marsha Morgan 541-377- potential clients walk and drive by every year? Please call Kevin 5152cell. #16276937 Hale 541-969-8243cell to find out if this is the right location $45,000 for your business. #16559795 GREAT VIEWS/1.49 ACRES ON 2 CITY TAX LOTS. Zoned for stick built or manufactured home. City sewer and water to $230,000 17.1 ACRES on Hwy 395 South of Pendleton. T his acreage property. Call Cari Volger tel:(541)%20377-5058 cell for more has 5.7 acres of water rights and can be divided into two parcels. information. #13575330 Located just to the west of the Hwy 395 bridge over McKay PENDING Creek, below McKay Dam, this offering is close to town and has $45,000 direct access to Hwy 395. Seller will have some setbacks / A GREAT FIND in city for your new home, manufactured or stick. building restrictions for the north property line. Kevin Hale 541 Check with City for details to develop. 1.5 acres next to East end of River Walk Way. Level parcel with utilities near. Call Vicki 969-8243cell #15607806 Dick 541-969-9441cell for more information. #16088762 $199,000 11.24 ACRES 11.24 acres right outside of town. Two tax lots, each are $32,900 buildable. Beautiful location overlooking the Umatilla River and PENDLETON CITY LOTS! All one price! Let us place a brand West Pendleton. Please call Kevin Hale, 541 969-8243cell to new KIT double-wide manufactured home for you. Some lots have sold, call for availability, sizes vary. Call Marsha Morgan to learn more. #15179009 look at floor plans & the home of your choice & colors at tel:(541)377-5152 cell. $99,900 RARE RESIDENTIAL LOT- 9.71 acres overlooking the Umatilla PILOT ROCK/1.14 ACRES River, downtown Pendleton, and the Blue Mountains. $32,500 Conveniently close to town yet offers country like feel. Access on GREAT VIEW LOT perched on the hill in a nice location in Pilot private road, utilities are nearby. This lot will make you think Rock on 1.14 acres with the potential of dividing/developing. about building a new home. Zoned R2. Price to sell. Jef Farley Sewer is available at the bottom of lot. Perfect for building your dream home with the potential of partitioning up to 3 additional tel:(541)276-0021 . 13112258 lots to offset costs. Property broker owned. Jef Farley tel:(541)276-0021 . #16497070. $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. $32,000 Zoned Service Commercial (C3), allows for many options, check ROYAL RIDGE LOT. Top quality homes in this area help to with City. Great opportunity for multi-family, office, etc. Medical maintain the value of your home. Owner has topo map for the facility will be a restricted use. 3 phase power and easement for buyer to site their home on the lot. Unobstructed views of the state Hwy on North edge. Jef Farley tel:(541)276-0021 . Blue Mountains. This is a wonderful lot to build on. Kevin Hale 541-969-8243cell. #16526653 #16114613 $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 REDUCED/ACREAGE built for this price. Prequalified buyers only. Kevin Hale 541- $75,500 BEAUTIFUL MOUNTAIN PROPERTY only minutes away from 969-8243cell. #14027997 Pendleton. 7.32 Acres along Old Emigrant Road. Great views and very private. Buildable upon securing a conditional use $165,000 REDUCED/NORTH POWDER Looking for a business opportunity? This property was formally a permit from Tribal Planning. Zoned G-1. Call Jerry Baker 541- towing operation located on the frontage road in North Powder. 969-6378cell. #16042939 It offers an office space, living quarters with two bedrooms, one COVE bath, two bay garage with built-in compressor and a lift, cyclone $65,000 security fencing, and several out buildings. All this on three lots! COVE/LOOKING f or a great location to build your new dream home? This 2.51 acre lot has lots of potential with beautiful Call Carolyn Rovier 541-786-0822cell. #16627469 views of the mountains and the valley below. Enjoy the amenities of the beautiful town of Cove. Carolyn Rovier 541- $134,900 LOCATE YOUR BUSINESS with the greatest concentration of 786-0822cell. #16585741 retail and business activity. High traffic counts and zoned C-1 with many business uses permitted. Corner lot with 100’ $60,000 frontage off of Emigrant. Kevin Hale 541 969-8243cell. GREAT VIEW LOT! Unobstructed view of Pendleton and the Blue Mountains. This lot is a must see if you are planning on #12422421 building a new home. Don’t wait! Kevin Hale 541 969-8243cell. PREMIER- Commercial lots available. Directly across Hwy 395 #15332998 from the new hospital. SW 37th Extension is complete and the access road to the north side of these lots is also completed with $50,000 SW 32nd Place. All utilities installed. Lots are ready to develop BUILDING LOT- NOW AVAILABLE. Great location, utilities at or build to your needs. Prime location for commercial and the street/lot. Check this lot out if you are looking to build. Kevin business development, take advantage of the increased traffic Hale 541 969-8243cell. #15068065 flow and ease of access. Lots available from 6.73 acres @ $7.00 s.f., 1.27 acres @ $8.50 s.f., .75 acres @ $8.50 s.f., .45 $50,000 acres @ $8.50 s.f. with a total of 9.2 acres available, all can be ROYAL RIDGE AREA. Large oversized lot ready to build. adjusted to suit your needs. Kevin Hale 541-969-8243cell. Desirable corner lot with all utilities and ready to build NOW. #11336593 Please call Kevin Hale tel:(541)969-8243 . #15294144 $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 tel:(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 $28,000 NEW .52 ACRES, 4 lots to be sold as 1. Buyers to do their due diligence for permits to bring power, water, and sewer to property. Call Marsha Morgan for more information. #17696365 $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 $350,000 HERMISTON $50,000 REDUCED/UKIAH/RV NEW/ATHENA 6.29 ACRES OF GROUND ZONED RSC, (Retail Service GREAT SET-UP FOR RV with 12’x52’deck with 10’x10’ gazebo. $18,500 Commercial), between Kik Road and Hwy 395. Includes a 1280 City water & sewer hook-ups for 2 RV’s. Landscaped and fenced .14 ACRE/ HIGH STREET/ATHENA. Call Jerry Baker 541 969- sf(m/l) home, 2 bed, 1 bath. Huge potential for a business with an 8’x10’ storage shed. 50 amp electrical service. Call Jef 6378 for more information. #17285968 location with excellent access. Ideal for storage units, RV park, 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 R eal E s tate & H om ebu ilders G u ide
