• Tuesday, November 03, 2020 12:30 PM | Anonymous member (Administrator)

    NeighborImpact recently opened a mortgage assistance program that includes assistance for Homeowner with up to 4 units if they have been financially impacted by COVID – for example if they have a mortgage but the rental income is not being paid. Independently of wether the mortgage is in their primary residence or on the rental unit – benefit limits apply-

    The income eligibility is 160%AMI – as an example $97,920 for household of 2 –

    If any homeowners are interested in this program here is the link and application  Mortgage Assistance

  • Tuesday, June 23, 2020 12:56 PM | Anonymous member (Administrator)

    NeighborImpact is offering COVID-19 Rent Relief programs

    Central Oregon residents who need help paying rent during the COVID-19 pandemic can apply for assistance from NeighborImpact, a local nonprofit supported by federal and state emergency funding.

    To be eligible to receive funds, households must reside in Crook, Deschutes and Jefferson counties or the confederated Tribes of Warm Springs -AND-have income at or below 80% Area Median Income as defined by their county -AND-have lost a job or income due to COVID-19 -OR- have compromised health status, elevated risk of infection or vulnerability preventing them from regaining financial stability due to COVID-19.

    NeighborImpact encourages anyone who needs help paying back rent or rent going forward or both to apply right away-even if you think that you may not qualify.  Funds awarded will be paid directly to the landlord or property manager.  Citizenship is not required to receive help. 

    NeighborImpact Rent Assistance Contact Info:

    Click the link below to email NeighborImpact

    541-548-2380, ext. 210

    Click the links below for more information

    COVID RR Press Release (3).docx

    COVID LL-PM Rent Relief info sheet 6.16.20.pdf

    COVID Rent Relief Info Sheet - Bilingual (1).pdf

  • Monday, June 08, 2020 1:38 PM | Anonymous member (Administrator)

    As published in Sisters Nugget News - June 2020

    Dear Property Guy

    Author:  Mike Zoormajian 

    We once again interrupt our regularly scheduled column to take some time to assess what’s going on in the real estate world.

    Last time we looked at how the COVID shutdown is affecting members of our community as both renters and property owners. Since then we’ve added civil unrest to the mix as well. So let’s address the questions blowing up my inbox: “What’s going on?” and “When will this be over?”.

    To those questions, your humble servant has no answers. I can only share how some metatrends are driving real estate. Let’s look:

    1.Supply and Demand

    Residential values are holding. Commercial values not so much, with retail and food service getting hammered. Listings are way down across the local area, across the state, and across the country.  Coincidentally, people exactly haven’t been lining up to buy either. So values are holding steady as we presently have market equilibrium. As we head to Summer, residential activity is picking up, and prices are holding with few bargains to be had.

    2. Geographic Shifts

    Call it the “Suburbanization of America”.  We’re seeing a shift away from big cities and towards suburbs. On the West Coast, this means a shift from places like: San Francisco, L.A. and Seattle (not coincidentally COVID and protest hot spots), to places like: Bend, Boise, and Kirkland. Retail establishments that were burned or looted will have a tough business case for rebuilding. Expect excess commercial space and diminishing residential prices in cities.

    3. Work From Home

    This genie is out of the bottle and it is NOT going back in. People like working from home, and recent studies are showing improved productivity. Companies like Twitter and Square have already made work form home a permanent feature, expect others to follow suite.

    This feeds the shift from cities, and allows people to live where they want, instead of where they work.

    4. Retiree Geographic Shifts

    COVID is hastening the exit of many seniors from both cities and high tax states. In addition to health and crime concerns, many retirees are experiencing economic fear as their stock investments have been shaken. This is another trend that is supporting residential prices in Central Oregon.

    5. Rents, Renters and Investors

    This shutdown has tossed tens of thousands of people across the economic spectrum out of work. On top of this, many businesses and jobs destroyed in riots aren’t coming back. And renters (who trend toward the lower end of the income scale) are taking the brunt of it. Expect high unemployment to continue in the foreseeable future.

    Most landlords realize that mass evictions for non-payment are self-defeating. And most tenants realize that not paying rent and destroying their credit and rental history is equally self-defeating. Most have reached some sort of “pay what you can” scenario and are dealing with it. My advice to clients and tenants remains consistent: “Be kind, be patient, and be realistic.”

    In short, we have a very dynamic situation that is impossible to predict. That said, we have some strong trends that should support the Central Oregon market in both the short and long-term. But to answer the question of: “When will this be over?”  Nobody knows, only: “This too shall pass.”.

    Mike Zoormajian is principal at WetDog Properties in Sisters. Providing local property management and investor services. Questions, comments to: Free legal advice is worth what you pay for it. Consult a real attorney before doing anything crazy.

    *Copyright WetDog Properties 2020

  • Tuesday, March 06, 2018 5:33 AM | Michelle Bunting (Administrator)

    Here are some common myths about renters insurance:

    Myth:  My belongings aren't worth insuring. 

    Reality:  Take a quick may be surprised at what your belongings are worth.  Imagine having to replace your entire wardrove, your TV and DVD player, your stereo system, and more.

    Myth:  My landlord's insurance covers me.

    Reality:  Your landlord's insurance typically only covers the dwelling-not your personal belongings.

    Myth:  I hear renters insurance is expensive.

    Reality:  If you can afford a DVD a month, you can afford renters insurance.  And if you have auto insurance with State Farm, or if your apartment has a security system, your premiums could be even lower.

    Myth:  I don't need liability insurance.

    Reality:  Your landlord's policy may not cover your liability for a loss that occurs at your residence.

    Information above obtained from Joe A. Lochner, agent with State Farm Insurance in Redmond.  He can be reached at 541-548-6023.
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