MAILING ADDRESS: 21601 NE Willow Glen Rd Fairview OR 97024
OWNER STATUS: Owner occupied
LOCATION DESCRIPTION
COUNTY: Multnomah
CENSUS / BLOCK: 010200 / 1027
TSP - RNG - SEC: 01N - 03E - 28
LOT / BLOCK: 125 /
HOUSING TRACT: Fairview Terrace 03
ALT PARCEL #: R269583950
SCHOOL DISTRICT: Reynolds School District
MUNICIPALITY: Fairview PARCEL #: R574763
LAST MARKET SALE
DATE: 06/09/2006
PRIOR SALE
DATE: 06/09/2006 SALE PRICE: $255,280
PRICE: $255,280 DOCUMENT #: 106480
$247,620
TYPE: LOAN TYPE: Fannie/Freddie LOAN TERM: 360 M
PROPERTY DETAILS
PROPERTY ADDRESS
21601 NE WILLOW GLEN RD FAIRVIEW, OR 97024
PROPERTY CHARACTERISTICS
GROSS AREA: 1,901
LIVING AREA: ABOVE GRADE:
BEDROOMS:
BATHROOMS (F/H): 2 / 1
FIREPLACE: 1
YEAR BUILT: 2006
PARKING TYPE: Att
UNITS: 1
BASEMENT:
GARAGE AREA: 420
ROOF SHAPE:
FOUNDATION:
ROOF MATERIAL: Composition Shingle
CONSTRUCTIONS:
HEAT TYPE: Forced air unit
COOLING TYPE:
EXTERIOR WALL:
ROOMS:
QUALITY:
INTERIOR WALL:
PORCH TYPE:
PATIO TYPE: AIR COND: Y
FIXTURES:
FLOOR:
EQUIPMENT:
STORIES: 2
POOL:
CONDITION:
PROPERTY INFORMATION
LAND USE: Single-Family, Residential, Imp
ZONING: Residential/Town House Overl
COUNTY USE: Row/Attached Housing
LOT ACRES: 0.07
STATE USE: LOT SQ FT: 3,205
LEN / WID:
TAXES AND ASSESSMENT INFORMATION
ASSD YEAR: 2025
ASSD VALUE: $229,870
TAXABLE VAL:
TAX YEAR: 2025
LAND VALUE: $190,850
MKT VALUE: $400,470
TAX AREA: 240
IMP VALUE: $209,620
EXEMPTIONS:
PROPERTY TAX: $4,231.20
IMPROVED %: 52
DISTRICT:
AREA HISTORY
DEMOGRAPHICS
ASSESSOR MAP
STREET
AERIAL MAP
CITY BOUNDARY MAP
SCHOOLS
Reynolds School District
ELEMENTARY SCHOOLS
NAME: Fairview Elementary School
ADDRESS: 225 Main St
CITY, STATE, ZIP: Fairview, OR 97024
CHARTER SCHOOL: No
MAGNET SCHOOL:
AREA DESCRIPTION: 21-Suburb: Large
PHONE: (503)667-2954 DISTANCE: 0.37 mile(s)
GRADES: Kindergarten - 5th Grade
NAME: Multnomah Learning Academy
ADDRESS: 22565 Ne Halsey St
TITLE ONE: 1-Yes
CHARTER SCHOOL: Yes
MAGNET SCHOOL:
CITY, STATE, ZIP: Fairview, OR 97024 AREA DESCRIPTION: 21-Suburb: Large
PHONE: (503)405-7868
0.73 mile(s)
GRADES: Kindergarten - 8th Grade TITLE ONE: 2-No
MIDDLE SCHOOLS
NAME: Reynolds Middle School
ADDRESS: 1200 Ne 201St Ave
CITY, STATE, ZIP: Fairview, OR 97024
CHARTER SCHOOL: No
MAGNET SCHOOL:
AREA DESCRIPTION: 21-Suburb: Large
PHONE: (503)665-8166 DISTANCE: 1.14 mile(s)
GRADES: 6th Grade - 8th Grade
NAME: Clear Creek Middle School
ADDRESS: 219 Ne 219Th
CITY, STATE, ZIP: Gresham, OR 97030
PHONE: (503)492-6700
GRADES: 6th Grade - 8th Grade
HIGH SCHOOLS
TITLE ONE: 1-Yes
CHARTER SCHOOL: No
NAME: Reynolds Learning Academy CHARTER SCHOOL: No
ADDRESS: 20234 Ne Halsey Street MAGNET SCHOOL: CITY, STATE, ZIP: Fairview, OR 97024
PHONE: (503)667-4673
GRADES: 7th Grade - 12th Grade
NAME: Reynolds High School
ADDRESS: 1698 Sw Cherry Park Rd
CHARTER SCHOOL: No
SCHOOL: CITY, STATE, ZIP: Troutdale, OR 97060
PHONE: (503)667-3186
GRADES: 9th Grade - 12th Grade
DESCRIPTION: 21-Suburb: Large
2.13 mile(s)
2-No
Students We Serve
OREGON AT-A-GLANCE DISTRICT PROFILE
Reynolds SD 7
SUPERINTENDENT: Frank Caropelo | 1204 NE 201st Ave, Fairview 97024 | 503-661-7200
Academic Success
Students
Grade 3 ENGLISH LANGUAGE ARTS
Students
Grade 8 MATHEMATICS
Students
High School Success
ON-TIME GRADUATION
Students
Students earning a
District Goals
Reynolds School District leads with equity to educate and support all students to graduate with the skills and confidence to thrive. We seek to accomplish our mission through goal areas of supporting marginalized students, providing culturally responsive teaching, promoting the wellness of staff and students, and providing ongoing professional development for all staff. Our vision is to prepare lifelong learners to achieve their full potential in a complex and interconnected world.
State Goals
The Oregon Department of Education is partnering with school districts and communities statewide to reach a 90% on-time graduation rate by 2027. Anchored in the pillars of Academic Excellence, Belonging & Wellness, and Accountability, ODE prioritizes evidence-based strategies that strengthen early literacy, improve attendance, and deepen student engagement. We are committed to eliminating opportunity and achievement gaps for historically underserved students. By investing in culturally responsive practices, cultivating inclusive school environments, and fostering a culture of continuous improvement, we can help ensure every student thrives.
Our Staff (rounded FTE)
OREGON AT-A-GLANCE DISTRICT PROFILE
ON-TRACK TO GRADUATE
ON-TIME GRADUATION
Students We Serve
OREGON AT-A-GLANCE SCHOOL PROFILE
Fairview Elementary School
PRINCIPAL: Lisa McDonald | GRADES: K-5 | 225 Main St, Fairview 97024 | 503-667-2954
2024-25
REGULAR ATTENDERS
LANGUAGE ARTS
MATHEMATICS
School Goals
Fairview Elementary is committed to offering students a safe and supportive learning environment to grow in academic and social emotional skills.
State Goals
The Oregon Department of Education is partnering with school districts and communities statewide to reach a 90% on-time graduation rate by 2027. Anchored in the pillars of Academic Excellence, Belonging & Wellness, and Accountability, ODE prioritizes evidence-based strategies that strengthen early literacy, improve attendance, and deepen student engagement. We are committed to eliminating opportunity and achievement gaps for historically underserved students. By investing in culturally responsive practices, cultivating inclusive school environments, and fostering a culture of continuous improvement, we can help ensure every student thrives.
Safe & Welcoming Environment
Our school strives to offer a physically and emotionally safe and welcoming environment for all. All community members are offered access through written translation services and interpretation for phone and in-person connections. We send weekly communications to the school community and offer easy access to daily individual messaging with all school staff through ParentSquare. We invite the community in at least once each month for school and family related events. We request feedback and make efforts to improve when suggested.
Our Staff (rounded FTE)
OREGON AT-A-GLANCE SCHOOL PROFILE
Fairview Elementary School
Outcomes
REGULAR ATTENDERS
ENGLISH LANGUAGE ARTS
Teachers
About Our School
BULLYING, HARASSMENT, AND SAFETY POLICIES
A safe environment is our top priority. Our school teaches and promotes safe ways to accept and support feelings. When mistakes are made, we teach processes to repair harm through restorative practices. Bullying goes beyond a mistake and must be handled swiftly. Victims of bullying must be offered immediate safety, and anyone participating in bullying must be corrected. Fairview is committed to working with all partners, including families, to address any forms of bullying, harassment, and intimidation.
EXTRACURRICULAR ACTIVITIES
Fairview is supported by Metropolitan Family Service which allows our students to participate in after-school academic support as well as enrichment activities that incorporate STEM, soccer, arts & crafts, and other topics of student interest.
PARENT ENGAGEMENT
Our Fairview community is invited into school at least once each month to engage in interactive and engaging school events. We teach content specific strategies in reading during our "read-in" event and explore math concepts during our math focused game night.
COMMUNITY ENGAGEMENT
Fairview is a Sun Community School, offering fall, winter and spring after school sessions. Students are offered help with homework, after school enrichment, adult education, family events, resource navigation, client assistance, social emotional learning and volunteer opportunities.
Students We Serve
OREGON AT-A-GLANCE SCHOOL PROFILE
Reynolds Middle School
PRINCIPAL: Chris Greenhalgh | GRADES: 6-8 | 1200 NE 201st Ave, Fairview 97024 | 503-665-8166
CLASS SIZE
REGULAR ATTENDERS
Students
School Goals
As a Reynolds Middle School community, our mission is: The RMS Family is built on relationships. We foster growth through collaborative, culturally-rich, relevant, and challenging instruction. We promote passionate learning to inspire productive members of humanity who positively contribute to a changing world. Similarly, our vision is: "The RMS Family will learn and grow as productive members of humanity by celebrating and building upon the richness of our community."
MATHEMATICS
State Goals
The Oregon Department of Education is partnering with school districts and communities statewide to reach a 90% on-time graduation rate by 2027. Anchored in the pillars of Academic Excellence, Belonging & Wellness, and Accountability, ODE prioritizes evidence-based strategies that strengthen early literacy, improve attendance, and deepen student engagement. We are committed to eliminating opportunity and achievement gaps for historically underserved students. By investing in culturally responsive practices, cultivating inclusive school environments, and fostering a culture of continuous improvement, we can help ensure every student thrives.
Safe & Welcoming Environment
Our school is committed to ensuring all students and their families feel welcome through building positive relationships. We want students and families to feel like they belong here. As a diverse community, all communication sent home through ParentSquare is translated into families preferred language. Interpreters are made available for family conferences and other school meetings.
Our Staff (rounded FTE)
OREGON AT-A-GLANCE SCHOOL PROFILE
Reynolds Middle School
Outcomes
REGULAR ATTENDERS
ENGLISH LANGUAGE ARTS
Teachers
Educational assistants
Counselors/ Psychologists/ Social Workers
About Our School
BULLYING, HARASSMENT, AND SAFETY POLICIES
Reynolds School District has policies prohibiting bullying and harassment as well as procedures to address incidents as they occur. Students participate in PBIS and Character Strong lessons as part of their foundations class.
EXTRACURRICULAR ACTIVITIES
Reynolds Middle School partners include SUN, SEI, Campfire, Greater Than, Naya, Cairo, Holla, Mesa Stem, and Latino Network. After school programming offers academic tutoring and enrichments activities. RMS is proud of our sports program. Students can participate in volleyball, cross country, wrestling, basketball, and track & field.
PARENT ENGAGEMENT
Our school strives to engage all of our parents by providing language supports for parents where English is their second language. Our school also holds a yearly evening events where parents are welcome to attend.
COMMUNITY ENGAGEMENT
We partner with local businesses to provide students with learning opportunities in connection with our community: Community Clothes Closet, Friday Food Pantry, Schools Uniting Neighborhoods, and Latino Network Parent Leadership Forum.
Students We Serve
OREGON AT-A-GLANCE SCHOOL PROFILE
Reynolds High School
PRINCIPAL: Michael Anderson | GRADES: 9-12 | 1698 SW Cherry Park Rd, Troutdale 97060 | 503-667-3186
REGULAR ATTENDERS
Students
Students
in 2020-21 graduating in 2023-24
FIVE-YEAR COMPLETION
Students earning a high school diploma or GED within five years. Cohort Includes students who were firsttime ninth graders in 2019-20 finishing in 2023-24
COLLEGE GOING
Students enrolling in a two or four year college within 12 months of completing high school in 202223. Data from the National Student Clearinghouse.
School Goals
We are committed to improving outcomes for all students. Over the last several years we have seen a steady rise in our on-time graduation rate through improvements made to instruction and critical supports implemented at the 9th grade level. Our areas of focus will continue to concentrate on traditionally underserved students to improve outcomes ensuring on-time graduation and post-secondary opportunities for all.
State Goals
The Oregon Department of Education is partnering with school districts and communities statewide to reach a 90% on-time graduation rate by 2027. Anchored in the pillars of Academic Excellence, Belonging & Wellness, and Accountability, ODE prioritizes evidence-based strategies that strengthen early literacy, improve attendance, and deepen student engagement. We are committed to eliminating opportunity and achievement gaps for historically underserved students. By investing in culturally responsive practices, cultivating inclusive school environments, and fostering a culture of continuous improvement, we can help ensure every student thrives.
Safe & Welcoming Environment
Our school strives to create a welcoming and safe environment for all students and families. We are committed to providing a positive and culturally rich school experience for all we serve. Bilingual staff members in the main office, counseling, attendance, and in a variety of other critical areas provide service and support to all who enter our doors. Students and families are met with a network of staff committed to creating a safe and inclusive environment.
Our Staff (rounded FTE) 119
OREGON AT-A-GLANCE SCHOOL PROFILE
Reynolds High School
Outcomes
REGULAR ATTENDERS
Teachers 21 Educational assistants
TO
12
Counselors/ Psychologists/ Social Workers
About Our School
ADVANCED COURSEWORK
Our school offers 10 different Advanced Placement (AP) courses and a host of dual credit offerings through Mt. Hood Community College, Portland State University, and other institutions. Highlighted courses include: Literature and Composition, Language and Composition, Calculus, Statistics, Environmental Science, Biology, World History, Human Geography, US Government and Politics, US History, Spanish, Speech and Debate, Early Childhood Education, Senior Inquiry and more.
CAREER & TECHNICAL EDUCATION
Our students have the opportunity to take a variety of Career Technical Education courses in addition to core academic and advanced placement options. Career Technical Education programs include Automotive, Business, Computer Science, Cosmetology, Culinary Arts, Early Childhood Education, Engineering, Graphics, Metals Manufacturing, and Woods/Construction.
EXTRACURRICULAR ACTIVITIES
Students at Reynolds High School have access to a variety of athletics, activities, and other extracurricular activities. Athletic programs include 21 competitive sports and competitive activity programs in Band, Choir, Orchestra, Speech and Debate, and Theatre. Reynolds also hosts several noncompetitive clubs and activities. Students have the opportunity to take part in more than 20 different extended day programs with transportation and meals provided in addition to enrichment.
PARENT & COMMUNITY ENGAGEMENT
We are committed to family engagement through a variety of opportunities each school year. Community engagement is critical to the success of our students and families. Our school has strong partnerships with the African Youth Community Organization, All Hands Raised, Camp Fire, Center for African Immigrants & Refugees, College Possible, El Programa Hispano Catholic Charities, Greater Than, Latino Network. Medicine Bear, Metropolitan Family Services, Migrant Education, Multnomah County Mental Health, Native American Youth & Family Center, Northwest Family Services, and Self Enhancement Inc.
8,920 $43,317 35 48.1% 51.9%
Reynolds
HOUSING
53.49% of homes owner occupied
46.51% of homes rented
POPULATION DENSITY
2,886.7 inhabitants per sq. mile
3,786 housing units at an average density of 1,225.2 per sq. mile
HISTORY
AGE DEMOGRAPHIC
23.8% under age 18
10.2% between ages 18 to 24
29.6% between ages 25 to 44
26.2% between ages 45 to 64
10% above age 65
CITY QUICK FACTS
14.6 miles east of Portland
3.54 square miles
114 feet elevation
Highest Average Temperature 83º
Lowest Average Temperature 36º
METRO AREA BASE MAP
LOCAL BUSINESSES
LOCAL BUSINESSES
LOCAL BUSINESSES
LOCAL BUSINESSES
LOCAL BUSINESSES
LOCAL BUSINESSES
LOCAL BUSINESSES
LOCAL BUSINESSES
LOCAL BUSINESSES
LOCAL BUSINESSES
LOCAL BUSINESSES
LOCAL BUSINESSES
LOCAL BUSINESSES
LOCAL BUSINESSES
Emergency Police/Medical/Fire
911
Poison Control (800) 222-1222 www.aapcc.org
United States Postal Service (800) 275-8777 www.usps.com
Xfinity (800) 266-2278 www.xfinity.com
Ziply Fiber (866) 699-4759 www.ziplyfiber.com
Verizon (800) 483-4100 www.verizon.com
AT&T (800) 288-2020 www.att.com
CenturyLink (866) 963-6665 www.centurylinkcom
Dish Network (800) 318-0572 www.dish.com
DIRECT TV (800) 531-5000 www.directtv.com
The Oregonian (503) 221-8240 www.oregonlive.com
TRI-MET (503) 238-7433 www.trimet.org
Northwest Natural Gas (800) 422-4012 www.nwnatural.com
Portland General Electric (503) 228-6322 www.portlandgeneral.com
City of Fairview Sewer District (503) 674-6215 www.fairvieworegon.gov
City of Fairview Water District (503) 674-6215 www.fairvieworegon.gov
Below is the website if you would like to change your address online or you can visit your local post office, they will provide you with the change of address packet. https://moversguide.usps.com
Benefits you will receive when you change your address online are:
Exclusive mover savings coupons
Safe and secure with identity verification by a simple $1.00 charge to your credit or debit card
Email confirmation at the end of registration of your change of address
* Must have valid email address and credit card to register online.
AUTO REGISTRATION AND DRIVER LICENSING
Below is the website if you would like to change your address online or you can visit your local DMV office.
Oregon Department of Transportation DMV Services 1905 Lana Avenue NE Salem, OR 97314-0100
www.oregondmv.com/oregon/index.htm
General DMV Information Contact: 503-299-9999
VOTERS REGISTRTION
TO REGISTER TO VOTE, YOU MUST BE:
A citizen of the USA
A resident of Oregon
A Legal Resident of Oregon State at least 18 years of age on or before the next election.
HOW TO REGISTER
To register to vote online you will need an Oregon driver's license, permit or ID card number issued by the Oregon Driver and Motor Vehicle Services Division (DMV).
If you do not have an Oregon driver's license, permit or ID card, you can still use the online voter registration application. The information you enter will display on a voter registration card (PDF document) that you will need to print, sign and deliver to your county elections office to complete your registration.
REGISTRATION DEADLINE
A new registrant must submit their online registration by 11:59:59 p.m. Pacific Time on the 21st calendar day before an election to be eligible to vote in that election.
CHANGE OF ADDRESS
If you move to a new county, you must complete a new voter registration, otherwise you must request a transfer of your registration.
Clackamas County Voter Registration: 503-655-8510
Multnomah County Voter Registration: 503-988-3720
Washington County Voter Registration: 503-846-5800
www.oregonmetro.gov 6161 NW 61st Ave. Portland, OR
Metro South (503) 234-3000 www.oregonmetro.gov 2001 Washington St. Oregon City, OR
Clackamas County (503) 668-8885 www.wmnorthwest.com 19600 SE Canyon Valley Rd. Sandy, OR
VOTER REGISTRATION
Clackamas (503) 655-8510
Multnomah (503) 248-3720
Washington (503) 846-5800
WATER BUREAU
Beaverton (503) 526-2257
Clackamas (503) 722-9220
Gladstone (503) 656-5223
Gresham (503) 618-2373
Hillsboro (503) 681-6228
Lake Oswego (503) 635-0265
Milwaukie (503) 786-7525
Oregon City (503) 657-8151
Portland (503) 823-7770
Tigard (503) 639-1554
Tualatin (503) 692-2000
West Linn (503) 656-4261
Wilsonville (503) 682-1011
CYBER SECURITY
the information without the knowledge of the sender or recipient, resulting in the funds being sent to an outside account and never credited to the intended party.
To protect and reduce your risk, WFG has implemented the following procedures for outgoing and incoming wires:
Outgoing Wire from WFG to seller or borrower for proceeds
In the escrow paperwork provided you will be asked to provide written instructions on how you want funds due you sent to you at the close of escrow. If you choose to have the funds sent via wire transfer, WFG will contact you by phone to confirm the wire information provided.
Incoming Wires from the buyer and/or lender to WFG bank account
For funds that are to be wired to WFG for your transaction, we will send specific wire instructions to the remitting person via an encrypted email. We recommend you reach out to your WFG contact to confirm the wire instructions prior to remittance.
We look forward to processing your escrow transaction for you. We know that this can be a stressful time and we are here to assist you in any way we can to make this a good experience.
claims, or restrictions on the buyer’s property, other than the mortgage the buyer agrees to pay.
If the preliminary title search uncovers potential problems, a buyer can require that those problems be satisfactorily dealt with before closing on the home.
In addition, owner’s title insurance protects buyers against a myriad of risks that not even the most careful title search can uncover, including things such forged documents, undisclosed or missing heirs of a previous owner, fraud, will disputes, and unrecorded claims of many types.
Without owner’s title insurance, the legal costs to resolve such title claims could easily be in the tens of thousands of dollars and would have to be paid out of pocket by the buyer - not to mention the stress that such situations would cause to the buyer.
Owner’s title insurance is one of the most affordable insurance policies a person can ever buy. Unlike other forms of insurance, there is only a one-time fee at closing for the policy, which financially protects the buyer’s investment for as long as the buyer or the buyer’s heirs own the home.
So, if someone tells the buyer that owner’s title insurance is “optional”, that certainly does not mean that the buyer should not get it. Virtually every lender requires lender’s title insurance, but that insurance does not protect the buyer.
In order to safeguard the buyer’s investment in the property, which is possibly the most important investment the buyer will ever make, owner’s title insurance is absolutely critical.
WHAT IS ESCROW?
Both the buyer and seller rely on the escrow agent to carry out their written instructions relating to the transaction and to advise them if any of their instructions are not mutually consistent or cannot be carried out. If the instructions from all parties to an escrow are clearly drafted, the escrow officer can proceed on behalf of the buyer and seller without further consultation. This saves much time and facilitates the closing of the transaction.
TYPICAL ROLES IN THE CLOSING PROCESS
The Seller/Agent
Delivers a fully executed Purchase Sale Agreement to the escrow agent. Executes the paperwork necessary to close the transaction.
The Buyer/Agent
Deposits collected funds required to close (in with the escrow agent.
Approves the commitment for title insurance, or other items as called for by the Purchase Sale Agreement.
Executes the paperwork and loan documents necessary to close the transaction.
The Lender
Deposits loan documents to be executed by the buyer
Deposits the loan proceeds. Directs the escrow agent of the conditions under which the loan funds may be used
The Escrow Agent
Clears Title
Obtains title insurance
Obtains payoffs and release documents for underlying loans on the property Receives funds from the buyer and/or lender. Prepares vesting document affidavit on seller’s behalf.
Prorates insurance, taxes, rents, etc.
Prepares a final statement (often referred to as the “HUD Statement” or ”Settlement Statement”) for each party, indicating amounts paid in conjunction with the closing of your transaction. Forwards deed to the county for recording. Once the proper documents have been recorded, the escrow agent will distribute funds to the proper parties.
In Summary
Escrow is the process that assembles and processes many of the components of a real estate transaction. The sale is officially closed when the new deed is recorded and funds are available to the seller, thus transferring ownership from the seller to the buyer. The escrow agent is a neutral third party acting on behalf of the buyer and seller.
WHAT IS TITLE?
About Title Insurance
Title is a bundle of rights in real property. Protecting purchasers and lenders against loss is accomplished by the issuance of a title insurance policy. Usually, during a purchase transaction, the lender requests a policy (commonly referred to as the Lender’s Policy) while the buyers receive their own policy (commonly referred to as an Owner's Policy).
In short, the policy states that if the status of the title to a parcel of real property is other than as represented, and if the insured (either the owner or lender) suffers a loss as a result of a title defect, the insurer will reimburse the insured for that loss and any related legal expenses, up to the face amount of the policy, subject to exceptions and exclusions contained in the policy.
Typically there are two policies issued. The Mortgagee’s Policy insures the lender for the amount of the loan. The Owner’s Policy insures the purchaser of the purchase price.
How is title insurance different from other types of insurance?
While the function of most other forms of insurance is risk assumption through the pooling of risks for losses arising out of unforeseen future events (such as sickness or accidents), the primary purpose of title insurance is to eliminate risks and prevent losses caused by defects in title arising out of events that have happened in the past. To achieve this goal, title insurers perform an extensive search and examination of the public records to determine whether there are any adverse claims (title defects) attached to the subject property. Said defects/claims are either eliminated prior to the issuance of a title policy
or their existence is excepted from coverage. Your policy is issued after the closing of your new home, for a one-time nominal fee, and is good for as long as you own the property.
What’s involved in a title search? A title search is actually made up of three separate searches:
Chain of Title – History of the ownership of the subject property
Tax Search – The tax search reveals the status of the taxes and assessments
Judgment and Name Search – Searches for judgment and liens against the owners’ and purchasers’ names
Once the three searches have been completed, the file is reviewed by an examiner who determines:
Whether or not the Chain of Title shows that the party selling the property has the right to do so. The status of taxes for the subject property. The Tax Search will also indicate the existence of any special assessments against the land and whether or not these assessments are current or past due.
Whether there are any unsatisfied judgments on the Judgment and Name Search against the previous owners, sellers, or and purchasers.
Rights established by judgment decrees, unpaid federal income taxes and mechanic liens all may be prior claims on the property, ahead of the buyer’s or lender’s rights. The title search will only uncover defects in title that are of public record, thus allowing the title company to work with the seller to clear up these issues and provide the new buyer with title insurance.
In Summary
After the searches have been examined, the title company will issue a commitment, stating the conditions under which it will insure title. The buyer, seller and the mortgage lender will proceed with the closing of the transaction after clearing up any defects in the title that have been uncovered by the search and examination.
.
WHO PAYS WHAT IN OREGON
SELLER PAYS
TYPICAL COSTS
The following costs generally affect all transactions:
Escrow Fee - one-half of the fee, based on title company’s fee schedule
Recording Fees - based on county fee schedule
Title Premium - based on fixed statewide fee schedule
Real Estate Commission - based on agreement with Broker
Tax Prorate - to apportion taxes between parties as of date of closing
General Costs - as listed for each specific transaction, as requested by principals
Release fees for loan payoff(s)
LAND SALE CONTRACT TRANSACTION
Attorney Fee - optional, and is sometimes shared with purchaser
Collection Escrow Setup Fee - optional, and is often shared with purchaser
ASSIGNMENT OF CONTRACT FOR ASSUMPTION OF LOAN TRANSACTION
Any delinquent payments to bring contract or loan current
Prorate share of current month’s interest based on current rate
CONVENTIONAL, FHA, VA LOAN TRANSACTIONS
Any closing cost (not expenses of property or loan interest) negotiated on behalf of the purchaser, subject to lender’s approval
FHA, VA Loans - check with lender for any applicable seller costs
BUYER PAYS
TYPICAL COSTS
The following costs generally affect all transactions:
Escrow Fee - one-half of the fee, based on title company’s fee schedule
Recording Fees - based on county fee schedule
Fire Insurance Premium - mandatory when any lender is involved, including the seller’s lender
Tax Prorate - to apportion taxes between parties as of date of closing
General Costs - as listed for each specific transaction, as requested by the principals
LAND SALE CONTRACT TRANSACTION
Attorney Fee - optional, and is sometimes shared with seller
Collection Escrow Setup Fee - optional, and is sometimes shared with seller
Recording Fee - for contract or memorandum thereof
ASSIGNMENT OF CONTRACT FOR ASSUMPTION OF LOAN TRANSACTION
Assumption or Assignment
Next monthly payment due, if required by lender
Recording Fee - for Assumption/Assignment of Agreement, if required by lender
CONVENTIONAL, FHA, VA LOAN TRANSACTIONS DISCLAIMER:Thisflyerisnotintendedtobeanall-inclusivelistoffeesand
Lenders title insurance policy & endorsements, as required by lender
Loan Fee - as required by lender
Credit Report Fee - as required by lender
Appraisal Fee - as required by lender
Mortgage Insurance Premium - based on fee schedule and endorsements of lender
Prepaid Interest - if required by lender
VA Loans only - funding fee, if required by lender
FHA, VA, and some Conventional Loans - reserves for real property taxes, fire insurance and mortgage insurance
TITLE VESTING Common ways to hold title to real property
RIVERFRONT 2001 SE Columbia River Dr Ste. 100 Vancouver, WA 98661 360-314-0300
SALMON CREEK
2105 NE 129th St. Ste. 107 Vancouver, WA 98686 360-314-1818
VANCOUVER MALL
4400 NE 77th Ave Ste. 250 Vancouver, WA 98662 360-891-5454
EAST VANCOUVER
2004 SE 192nd Ave. Ste. 100 Vancouver, WA 98683 360-356-9990 1 2 3 5 6 7 8 9 4 10
700 NE Multnomah St. Ste. 190 Portland, OR 97232 503-230-8488
This week the median list price for Fairview, OR 97024 is $699,000 with the market action index hovering around 32. This is less than last month's market action index of 35. Inventory has decreased to 7.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Real-Time Market Profile
Slight Seller's Advantage
Market Narrative
Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
Median List Price
The market for this zip code continues its bounce again this week. We're a long way from the market's high point so watch the Market Action Index to predict how long this trend will last.
Segments
Not surprisingly, given the condition of the overall market, all quartiles have shown price strength in recent weeks. All have been increasing in price lately. Watch for a persistent decline in the Market Action Index as a leading indicator for the top of the market.
Price Per Square Foot
In a market where prices are rising fairly consistently, price per square foot is essentially flat. This often implies that new homes coming on the market are pricier, and also larger than older homes. As a result the value one can buy stays the same.
Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply.
Market Action Index
Market conditions have been consistently cooling in the past several weeks. Because we’re still in the Seller’s zone, prices have not yet begun to drop. It may take a few more weeks of slack demand for prices to reflect and begin to fall. Expect prices to fall if the index persistently falls to the Buyer’s zone.
Segments
Not surprisingly, all segments in this zip code are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the highend) will weaken before the rest of the market and signal a slowdown for the whole group.
Median Days on Market (DOM)
The properties have been on the market for an average of 69 days. Half of the listings have come newly on the market in the past 68 or so days. Watch the 90-day DOM trend for signals of a changing market.
Segments
It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles.
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