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    <title>erinwarren</title>
    <link>https://www.erinwarren.com</link>
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      <title>Thinking About Moving to Bend, Oregon? Redmond, Terrebonne &amp; Wine Country Living</title>
      <link>https://www.erinwarren.com/thinking-about-moving-to-bend-oregon-redmond-terrebonne-wine-country-living</link>
      <description>Thinking about moving to Bend, Oregon? Here’s why buyers are also looking at Redmond, Terrebonne, and Central Oregon wine country, including the unique setting around Faith, Hope &amp; Charity Vineyards.</description>
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           If you’re thinking about moving to Bend, Oregon, you’re not alone. Bend has become one of the best-known lifestyle destinations in Central Oregon, and for good reason. But many buyers who start their search with Bend eventually expand it to include nearby communities like Redmond and Terrebonne, especially when they want more space, a custom-home opportunity, or a setting that feels more private and distinctive. Official tourism sources market Redmond as a “hub outside of Bend,” and Travel Oregon describes Faith, Hope &amp;amp; Charity Vineyards in Terrebonne as “close to Bend, far from ordinary.”
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           For buyers who care about views, land, and the chance to build something special, that wider search often makes a lot more sense than focusing on one city name.
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           Why buyers start with Bend but keep looking
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           Bend is usually the first place people search when they’re considering Central Oregon. It has the name recognition, the outdoor reputation, and the lifestyle appeal. But real estate searches are often broader than they first appear. A search for “moving to Bend” often becomes a search for the right overall lifestyle in Central Oregon.
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           That matters because the best fit is not always in Bend proper. Some buyers are less focused on being in the center of town and more interested in privacy, acreage, mountain views, and a property that feels one-of-a-kind. In those cases, nearby communities can become just as compelling. Travel Oregon specifically places Faith, Hope &amp;amp; Charity Vineyards in Terrebonne near Redmond and notes that it is about 30 miles north of Bend.
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           Why Redmond is getting more attention
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            Redmond keeps showing up in more buyer conversations because it offers access to the broader Central Oregon lifestyle while giving people a different pace and, in some cases, more room to breathe. Official visitor information positions Redmond as part of the larger Bend orbit, not separate from it.
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            It is also growing. According to the U.S. Census Bureau, Redmond’s population estimate for July 1, 2024 was 37,626, up 13.0% from the 2020 estimates base of 33,288.
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           That does not mean Redmond is automatically better than Bend. It means more people are clearly taking it seriously.
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           Terrebonne offers something different
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           Terrebonne is a different kind of draw. This is where buyers start leaning into the landscape, the open feel, and the sense of place. If Bend is the search term, Terrebonne is often where the emotional connection happens.
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            Faith, Hope &amp;amp; Charity Vineyards sits in Terrebonne near Redmond, and Travel Oregon highlights both its wine-country appeal and its location near Bend. The winery is also named for the Three Sisters peaks, which are visible from the property.
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           That combination matters because it creates a setting that is hard to duplicate: vineyard atmosphere, Central Oregon scenery, and proximity to Bend without feeling like standard in-town inventory.
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           Why this matters for buyers looking for more than a standard home search
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           If all you want is a typical home search, you can filter square footage and price and call it a day. But if you’re looking for a place to build, create, and settle into a more distinctive kind of Central Oregon living, the search has to get more specific.
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           That is where areas around Redmond and Terrebonne begin to stand out. A buyer looking near Bend may realize they actually want:
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            more land
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            more privacy
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            a custom-home path
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            a setting with real visual impact
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            easy access to the Central Oregon lifestyle without having to be in the middle of everything
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           That’s a different kind of real estate conversation.
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           The appeal of Central Oregon wine country
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           This is where the winery angle becomes more than a nice backdrop. It becomes part of the lifestyle story.
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            Travel Oregon’s Central Oregon wine guide places Faith, Hope &amp;amp; Charity in Terrebonne and notes the winery’s visibility of the Three Sisters. Visit Redmond also promotes the area as a gateway to activities, events, and the broader Central Oregon experience.
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           For buyers, that means the value is not just in the lot itself. It is also in the surrounding environment: the views, the wine-country setting, the events, the atmosphere, and the feeling that the property is part of something more memorable than a standard subdivision.
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           What local expertise should help you answer
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           A good agent should not just point at a map and say, “Here’s Bend, here’s Redmond.” That’s lazy.
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            The better question is:
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           what kind of life are you trying to build in Central Oregon?
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           For some buyers, that answer will still be Bend. For others, Redmond or Terrebonne may make more sense based on space, setting, and long-term vision. That is especially true for buyers considering land, custom homes, or niche luxury opportunities near recognizable destinations like Faith, Hope &amp;amp; Charity Vineyards.
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           Final thoughts
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           If you’re searching for Bend, Oregon real estate, it’s smart to keep Bend in the conversation. But it is just as smart to widen the search and look at what nearby communities offer.
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            Redmond is growing. Terrebonne delivers a more open and scenic setting. And Faith, Hope &amp;amp; Charity Vineyards sits in a location that blends Central Oregon beauty, wine-country identity, and proximity to Bend in a way that is genuinely hard to duplicate.
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           For buyers who want more than a standard home search, that broader perspective often leads to better opportunities.
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           Curious whether Bend, Redmond, or Terrebonne is the right fit for your lifestyle?
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           Reach out for a local perspective on Central Oregon living, custom-home opportunities, and estate properties near Faith, Hope &amp;amp; Charity Vineyards.
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      <pubDate>Tue, 24 Mar 2026 18:03:40 GMT</pubDate>
      <guid>https://www.erinwarren.com/thinking-about-moving-to-bend-oregon-redmond-terrebonne-wine-country-living</guid>
      <g-custom:tags type="string">Acreage,creative financing,,bend oregon,estate living,homeownership,buy land,winery estates,redmond oregon,Relocate To Oregon,building wealth</g-custom:tags>
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      <title>When It's Time to Buy — And What's Stopping You</title>
      <link>https://www.erinwarren.com/when-it-s-time-to-buy-and-what-s-stopping-you</link>
      <description>Thinking about buying a home but something's holding you back? You're not alone. Here's why now is the right time — and how to take that first step.</description>
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           Still on the fence about homeownership? The 3 mental roadblocks holding most buyers back, and why the real risk is doing nothing
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            Let's Talk Homeownership -
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           Every week, I talk to people who want to buy a home but haven't pulled the trigger yet. Same three reasons come up every single time. Let's kill those excuses, once and for all.
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           The truth is, the biggest obstacle to homeownership isn't your credit score, the market, or your down payment. 
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           It's the story you're telling yourself.
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            And that story is costing you — in equity, in stability, and in wealth you're not building.
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           Let's break it down.
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           "Renting Gives Me More Financial Flexibility"
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           ❌ The Myth
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           Renting feels flexible — no maintenance, no commitment, easy to move. Many renters assume this means they're in a better financial position.
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           The Reality
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           Every rent check you write is building someone else's wealth. Your landlord's. When you buy, your monthly payment works for you — building equity with every single payment. Homeownership is one of the most powerful forced savings vehicles in existence. Add in property appreciation, mortgage interest deductions, and fixed-rate payment stability that no lease can offer, and renting "flexibility" starts looking a lot like financial stagnation.
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           "Buying Means I'm Locked In Forever"
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           ❌ The Myth
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           Homeownership feels permanent. What if your life changes? What if you need to move? Commitment can feel like a trap.
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           The Reality
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           Owning a home gives you more options, not fewer. You can rent it out, sell it, leverage the equity — your home becomes a financial asset that works for you no matter what life throws your way. Meanwhile, as a renter, your landlord can raise your rent, sell the property, or ask you to leave. Who's really locked in?
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           "What If I Buy at the Wrong Time?"
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           ❌ The Myth
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           Market timing feels critical. Nobody wants to buy at the peak and watch values drop. Waiting for the "perfect moment" seems logical.
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           The Reality
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           Historically, real estate appreciates over the long term — full stop. Yes, markets fluctuate. But the buyers who waited for the "right time" during the last decade are still waiting. 
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           Time in the market always beats timing the market.
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            The longer you wait, the more you pay — in higher prices, more rent, and lost equity. Today's rate environment is an opportunity, not a reason to pause.
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           The Bottom Line: Stop Waiting. Start Owning.
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           The best time to buy a home was five years ago. The second best time? 
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           Right now.
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           Homeownership isn't just a financial decision — it's a life decision. It's stability for your family, freedom to make your space your own, and a foundation of real, lasting wealth. The myths holding you back? They're just that. Myths.
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           You don't need perfect conditions. You need the right guidance, a clear picture of your options, and someone in your corner who knows how to make it happen.
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           READY TO MAKE YOUR MOVE?
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           Let's talk about where you are, where you want to be, and exactly how to get there.
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           One conversation could change everything.
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      <pubDate>Thu, 05 Mar 2026 23:13:49 GMT</pubDate>
      <guid>https://www.erinwarren.com/when-it-s-time-to-buy-and-what-s-stopping-you</guid>
      <g-custom:tags type="string">buy vs rent,homeownership,real estate tips,first time home buyer,building wealth</g-custom:tags>
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    <item>
      <title>Why Redmond, OR is Central Oregon’s Sweet Spot: Real Estate, Lifestyle &amp; Community Vibes</title>
      <link>https://www.erinwarren.com/why-redmond-or-is-central-oregons-sweet-spot-real-estate-lifestyle-community-vibes</link>
      <description>Thinking of moving to Redmond, Oregon? Discover why buyers and sellers are flocking to this Central Oregon gem — lifestyle, real estate, and real community.</description>
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           Why Redmond, Oregon Is One of the Smartest Moves You Can Make in 2025
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           The Ultimate Relocation Guide for Buyers, Sellers, and Dream-Chasers
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           Thinking about moving to Redmond, Oregon? You’re not alone — and you’re not late. With its unbeatable mix of outdoor lifestyle, affordability (yes, even in this market), and small-town charm with real growth potential, Redmond is Central Oregon’s rising star.
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           Whether you're looking to sell a longtime family home, snag acreage for your dream horse property, or relocate for a better quality of life, here’s what you need to know about Redmond, from someone who lives it, sells it, and helps others thrive in it.
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           Real Estate in Redmond: More Than Just a Good Deal
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           Let’s talk numbers.
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            As of 2025, the median price for a single-family home in Redmond is around
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           $528,000
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            , with townhomes coming in closer to
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           $402,000
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            . Looking for land? Rural acreage and equestrian-ready properties can range anywhere from
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           $750,000 to $1.2M
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           , depending on location and amenities.
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            The best part? Redmond is still a
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           “value” market
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            compared to its trendy neighbor Bend — without sacrificing beauty or community.
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           Pro tip for sellers
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           : Inventory is tighter, and homes are averaging 82 days on the market. Proper staging, rural property expertise, and the right pricing strategy make all the difference.
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           Living the Outdoor Dream (Without a Tourist Crowd)
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           You’re surrounded by nature, and it’s not overcrowded.
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            Smith Rock State Park
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            : World-renowned for rock climbing and Instagram-worthy sunrises.
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            Dry Canyon Trail
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            : Walk, run, or ride through the heart of town.
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            Cline Falls &amp;amp; Deschutes River
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            : Fish, paddle, or unwind by the water.
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            Plus, countless trails, public lands, and hidden pockets of high-desert serenity.
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           Redmond is where horse trailers share the road with Teslas, and no one bats an eye. You get community and freedom.
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           Infrastructure That Makes Life (and Travel) Easier
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            Redmond has its own
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           commercial airport (RDM)
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            with direct flights to major cities across the West — including Portland, Seattle, Salt Lake City, and Denver. No long drives to the airport, no chaos. Just convenience.
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           The town also sits right at the junction of Highways 97 and 126 — meaning you’re close to Sisters, Prineville, and Bend, but tucked away from the chaos.
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           Education, Events, and Everyday Living
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           Redmond is served by a growing school district (7,000+ students), with standout schools like Ridgeview High and community support for STEM, trades, and alternative education.
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           Downtown is blooming with life:
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            Local breweries
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            Art galleries
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            General Duffy’s Waterhole
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             — part taproom, part live music venue, part Redmond icon
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           This isn’t just a place to live. It’s a place to belong.
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           Cost of Living + Growth Potential
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            Redmond's cost of living index hovers around
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           111
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           , making it slightly higher than the national average — but still a steal for Central Oregon. You’re not just paying for a house; you're investing in lifestyle, location, and long-term equity.
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           Redmond is one of Oregon’s fastest-growing cities. But it’s growing with purpose. Infrastructure, housing, and business development are all part of a thoughtful plan, not a boom-and-bust rush.
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           For Buyers: You’ve Got Options. For Sellers: You’ve Got Opportunity.
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            Erin Warren specializes in helping clients navigate
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           transitional moments
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            — relocating, downsizing, upsizing, or just finally chasing that rural dream.
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           Whether you’re:
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            Moving from a metro area and craving acreage
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            Selling a longtime home and don’t want to leave equity on the table
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            Hoping to invest in land or equestrian property
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           Erin brings experience, strategy, and a local’s insight — not just listings.
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           Ready to Explore Redmond?
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           If Redmond is calling your name, now’s the time to act with purpose — before pricing climbs and availability shrinks further.
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           Erin Warren helps buyers and sellers tap into the real potential of this high-desert gem — creatively, confidently, and with heart.
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  &lt;/p&gt;&#xD;
&lt;/div&gt;</content:encoded>
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      <pubDate>Thu, 21 Aug 2025 23:35:37 GMT</pubDate>
      <guid>https://www.erinwarren.com/why-redmond-or-is-central-oregons-sweet-spot-real-estate-lifestyle-community-vibes</guid>
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    <item>
      <title>Affordable Land Ownership: Creative Financing for First-Time Acreage Buyers</title>
      <link>https://www.erinwarren.com/4 creative strategies for making horse property or acreage affordable</link>
      <description>Buy land in Oregon in 2025 with creative real estate financing tips. Learn how to afford acreage, horse property, or rural land without big cash.</description>
      <content:encoded>&lt;div data-rss-type="text"&gt;&#xD;
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           Buy Land in 2025?
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           Yes, You Still Can.
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           4 Creative Strategies for Making Horse Property or Acreage Affordable
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           By Erin Warren
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           Your dream is to own land — maybe a few acres for horses, or a property with room to breathe. But one look at your monthly budget, and that dream feels... out of reach.
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           Don’t give up just yet.
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            In 2025, it’s easy to assume land ownership is reserved for the ultra-wealthy or well-connected. But in my experience as a rural real estate specialist, I’ve seen smart, motivated buyers use
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           creative strategies
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            to secure incredible properties — without breaking the bank.
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           Here are four proven ways you can make it happen.
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           Strategy #1: Buy Dividable Land and Sell Off Parcels
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           How it works:
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            You buy a parcel that’s legally dividable, then sell one or more of the parcels to offset your purchase price. Ideally, the land already includes a home or buildable lot that you plan to keep.
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           What you need:
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            A solid down payment and patience — dividing and selling can take time depending on your county’s regulations.
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           Why it works:
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            Most large parcels are priced as a single unit. But when split, their value often increases. This means you can sell the divided parcels at a premium — and sometimes end up owning your portion for free or close to it.
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           Example:
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            One of my buyers purchased a property that wasn’t marketed as dividable — but was legally eligible to split into four 5-acre parcels. She kept one and is selling the other three. When she’s done, she may end up debt-free with equity in her pocket.
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  &lt;h2&gt;&#xD;
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           Strategy #2: Install a Mobile Home and Rent It
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           How it works:
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            You purchase raw land, install a mobile or manufactured home, and rent it out. The rental income helps cover your land payments while you build equity.
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           What you need:
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            A down payment, utility improvements (well, septic, electricity), and a modest mobile home. If you're short on cash, a home equity loan from your current residence can help bridge the gap.
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           Why it works:
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            The property generates passive income and becomes a long-term asset. You can build your dream home later — and the improvements you make now benefit you then.
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           Example:
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            Let’s say you buy a 5-acre parcel for $110,000. With a 10% down payment and an interest rate of 6.5%, your land payment could be around $650–700/month. After setup, a rented mobile home might bring in $1,200/month — potentially covering your land and improvement costs.
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           Strategy #3: Buy Land with Timber Value
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           How it works:
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            Some rural land has harvestable timber — and that timber has cash value. You can harvest trees post-purchase to generate a large lump sum that reduces your loan balance.
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  &lt;p&gt;&#xD;
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           What you need:
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            A lender willing to factor timber into the appraisal or closing. You’ll also want to include a timber cruise (valuation) as part of your purchase contingency.
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  &lt;p&gt;&#xD;
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           Why it works:
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            If you’re buying horse property, you may be clearing trees anyway. Why not turn that process into profit?
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           Example:
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            A client of mine purchased a 6-acre parcel with export-grade timber. The trees brought in nearly 50% of their purchase cost in cash. Months later, they resold the improved property at a profit.
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  &lt;p&gt;&#xD;
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           Note:
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            Timber markets fluctuate. Always consult a forestry professional before committing.
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  &lt;h2&gt;&#xD;
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      &lt;br/&gt;&#xD;
      
           Strategy #4: Use Seller Financing (a Land Sales Contract)
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  &lt;p&gt;&#xD;
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           How it works:
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            Instead of a bank loan, the seller finances the property. This can be done as the primary mortgage, or as a small second mortgage to help you qualify.
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  &lt;p&gt;&#xD;
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           What you need:
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      &lt;br/&gt;&#xD;
      
            Cash for a larger down payment and a seller open to flexible terms.
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           Why it works:
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            No private mortgage insurance. No bank underwriting delays. Lower closing costs and more flexibility — especially if your income or credit profile doesn’t fit a traditional mold.
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           Example:
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            My husband and I once purchased land using a one-year seller contract. It gave us time to complete improvements and refinance later. We saved thousands in loan fees and had a much smoother experience.
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           Final Thoughts
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           Yes — it’s 2025. Yes — land is expensive. But no — that doesn’t mean it’s out of reach.
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           If you’re motivated, open to options, and willing to explore creative financing, you just might be surprised what’s possible.
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           And if you need someone to help you spot those opportunities?
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           That’s what I do best.
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&lt;/div&gt;</content:encoded>
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      <pubDate>Fri, 01 Aug 2025 13:38:08 GMT</pubDate>
      <guid>https://www.erinwarren.com/4 creative strategies for making horse property or acreage affordable</guid>
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    <item>
      <title>Unlocking Land Ownership Through Creative Financing</title>
      <link>https://www.erinwarren.com/unlocking land ownership through creative financing</link>
      <description>Thinking about buying land in Oregon but unsure how to afford it? Top 1% Realtor Erin Warren shares creative financing strategies that help turn dreams of horse property and acreage into real opportunities — from dividable parcels to seller financing.</description>
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           REALTOR ERIN BROWN WARREN of Boring, Ore., ranks in the top 1 percent nationally in real estate sales, but where she really finds excitement is in making "deals." She and her husband Greg live on a 5-acre parcel with their two dogs and three horses.
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           My husband and I just signed the papers on a beautiful piece of land that I never thought we'd be able to afford.  In fact, we were about to give up on our three-year search for "five acres and a nice house" in our price range when our realtor found us a 32-acre parcel of incredible land-- perfect for horses, and in just the right location.  You may be wondering how we could swing the payments on 32 acres, when five seemed out of reach?  We never thought it would be possible.  All it took was some creativity-- and a little bit of risk.
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           If your dream is to own horse property, but a quick monthly review of your checkbook reveals that you can barely make the payment on your $185,000 suburban home, you may be afraid to even consider the possibility of purchasing land.  But wait-- don't give up so easily.  If you have the motivation, and are willing to be creative, you might be surprised to discover what you can do.  We certainly were!
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           I asked our realtor, Erin Brown Warren of Oregon City to share with you how to make your dreams become reality through creative financing.  She outlined four scenarios that illustrate how the apparently impossible property purchase can become reality.  While these examples might not work for every situation, one may work for you, and they'll show you why it's worth the effort to consider all your options before giving up your dream of owning land.
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           Scenario #1: Dividable Parcels
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           How it wor
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           ks:
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           You buy a parcel of land that can be divided into one, or several pieces.  You divide, and sell the other parcel (or parcels) to help finance your purchase.  Ideally, the land you purchase will have a home on one parcel that you plan to keep.  Another variation on this theme includes purchasing dividable property with a friend.  Just be sure to negotiate ahead of time who gets which piece.
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           What you need:
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           Cash for an initial down payment, and the ability to make payments until you can divide and sell.
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           The Pros:
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           Resale of a parcel can help you generate enough cash to significantly reduce the payments on the property you intend to keep.
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           A dividable parcel sold as a single piece of property is normally priced as a single piece.  It will be worth much more money when it's divided, meaning that you get a better buy.
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           The Co
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           ns:
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           You may cringe at the notion of dividing land into smaller and smaller pieces.  Realize that in most situations it's zoning laws that make the difference.  If a piece of land can legally be divided, you can bet your bottom dollar that it will be-- whether it's you or someone else behind the deal.
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           You may have to calculate the costs for improvements (water, septic, access) along with the purchase price, if you plan to sell immediately.
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           It may take longer to locate this type of property, you'll need to be persistent.
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           Example:
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           "Investment properties are frequently miss-marketed", says Erin.  "Last year I found just such a situation-- a residence on a large parcel that had never been marketed as dividable, when in fact it could be divided into four separate 5-acre parcels.  My buyer purchased the property, is planning to sell three of the parcels, and just may wind up owning the fourth parcel free and clear!"
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           That's not at all uncommon, and it's great if a buyer can end up owning the last parcel-- plus having cash for their time, energy and risk.
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           Scenario #2: Create a Rental
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           How it works:
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           You buy a piece of empty land where you'd eventually like to live.  You purchase a mobile home and install it on the property.  Rent the mobile home-- in most cases you can get enough for rent to cover your land payments.  Maintain your rental arrangement until you've built up enough equity in your own home to allow your to build your dream home on the property-- that's been paying for itself!
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           What you need:
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           Money up front for a down payment, improvements (septic, water, access, if they're not already available) and purchase of a small mobile home.  You may need some additional monthly cash, if rental income isn't quite enough to meet  your payments.
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           The Pros:
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           Your land is paying for itself through rental income while you "buy yourself time" to improve  your own financial situation.
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           This strategy is a good hedge against real estate inflation rates.
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           The improvements you'll make to install a mobile home will all be necessary for your new home anyway.
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           The C
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           ons:
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           There will be a time delay before you can expect to be living ion your land, and you may have to spend some time living in the mobile home while building.
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           You'll have to put some effort into managing your rental property.
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           Example:
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           "Assume you find a 5-acre parcel (vacant and unimproved) on the market for $120,000, explains Erin.  "You put 10 %, or $12,000 dollars down, and finance at the current rate of 7 % with a balloon payment due in 10 years.  Your monthly payments would be about $718/month.  You can probably purchase a small, structurally sound mobile home for between $10,000 - $15,000 dollars, and total costs for permits, septic, well and electricity will be approximately $8,000 - 10,000, depending on your location.  If you're short on cash and own your own home, a second mortgage on the equity can help pay for the improvements.  When you're through, you can probably rent the property for as much as $900 - $1,100 a month-- enough to make your land payment and contribute to the cost of improvements."
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           It's worth the effort to consider all your potions before giving up your dream of owning land.
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           Scenario #3: Buy Trees
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           How it works:
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           You purchase a parcel of land with trees that can be harvested for lumber.  Immediately following the purchase, you harvest the trees to generate a large amount of cash that will significantly reduce the payments on your purchase.
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           If the thought of cutting down a tree makes your choke back tears, this option probably isn't one you want to consider.  It's important to realize, though, that in some areas of the West Coast, land with timber value doesn't mean "old growth" or "protected" forest.  In fact, it's land with trees that were planted for harvesting in the first place.
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           What you need:
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           Cash for your initial down payment, and the ability to make initial payments before the trees can be harvested.  Your lender may even allow you to use the timber value as your down payment and closing costs.
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           The Pros:
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           Your property will actually help pay for itself, when you cash in on the timber value.
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           If you're purchasing property specifically for housing horses, pasture typically requires clearing anyhow.  With this option, you'll generate income from the trees, while you clear land for your horses.
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           The Cons:
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           You may abhor the idea of cutting down trees in order to finance your property purchase.  If that's how you feel now matter what the circumstances, this option won't be for you.
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           You may lower the value of your property when you cut down the trees.  If you plan to resell the property, ask your realtor to do an in-depth market analysis to predict resale value, once the timber's gone.
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           There are a lot of details that need to be considered.  For example, your best bet is to have your "cruise" (timber appraisal) done after you have purchased the property, but finalize this inspection as one of your contingencies with the seller.  You'll also need to make sure the lender will provide the timber company with a timber deed at closing.
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           Timber prices have dropped recently-- but, just like the stock market, they'll come back up!  If you're still planning for the future, keep this option in mind.
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           Example:
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           "I recently sold a six acre parcel with a wonderful home, and over four acres of harvestable timber.  The timber was excellent, export quality, and the check my clients received from the timber company was about 50 % of their initial purchase price!  They have now sold the house and property for more than they paid for it initially.  It sounds far to easy though, Erin warns, "and there's a lot to know."
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           If you want to try a timber purchase, make sure you work with someone knowledgeable enough to help you with the details.
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           Scenario #4: Land Sales Contract
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           How it works:
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           The seller of the property carries the mortgage, meaning that there's no bank involved.  This option doesn't necessarily saves money initially, but it will in the long haul, and your monthly payments may be less.  There's often a lot more flexibility in the financing arrangement.
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           A seller can also carry a small second mortgage when you borrow from the bank.  For example, if you only have cash for a 10 % down payment, the seller can "carry back" an additional 10 %.  With the resulting 20 percent down payment, you'll avoid private mortgage insurance (see below).
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           What you need:
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           Varies widely with the individual arrangement.  Often requires a large lump sum up front.  This situation would be one to consider if, for example, you've received a large inheritance, but might have trouble qualifying for a bank loan because of a low monthly income.
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           The Pros:
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           You'll pay less in fees.  You won't pay loan fees to the bank, and you'll avoid private mortgage insurance, which is an additional monthly cost of $42-$100 per month on every $100,000 you borrow from the bank.  You'll also save on closing costs.
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           You'll "qualify" more easily if the seller is willing to work with you, and closing will be quicker.
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           The Cons:
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           The seller may require a larger down payment.
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           You're likely to have an earlier payoff date.  Most sellers will be reluctant to carry a 30-year contract.
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           Example:
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           "We just bought a piece of property ourselves, and had the seller carry a land sales contract for a period of one year, so we could do improvements on the property.  We saved about $8,000 on loan fees, and it made it really easy for us to make improvements and remarket the property."
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           This article was written in July of 1998.
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           REALTOR ERIN BROWN WARREN of Oregon City, Oregon is licensed with the Hasson Company (currently with Premiere Property Group, LLC) and ranks in the top 1% nationally in real estate sales, but where she really finds excitement is in making deals.  "You don't have to make low ball offers to get a good buy in real estate", claims Erin, "and I don't like to do that, especially when sellers are in financial trouble."  Instead she looks for property that's worth the price and has potential as an investment for her buyers.  "There are a lot of things that you can do," say Erin, "and I think it's a blast to get people into property they otherwise couldn't afford." Erin and her husband, Greg, live on 30 acres with their two dogs and three horses.
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&lt;/div&gt;</content:encoded>
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      <pubDate>Thu, 31 Mar 2022 13:38:08 GMT</pubDate>
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