Pazzo Ristorante

Located adjacent to Hotel Vintage Plaza, Pazzo is simply a wonderful night out.  This past Valentine’s Day, in fact, was spent sitting with my squeeze at the dining bar overlooking the kitchen at the back of the restaurant.  (Said squeeze has it out for Hallmark Holidays and didn’t even hint that he would deign to deliver on dinner goods until well after dark.  Hence, no reservations.)  But they had a couple seats open at the dinner bar – and we had a flippin’ blast!  Dinner was awesome.  Service was very friendly, and frankly it was just so dang interesting to watch a professional kitchen at work on a night that should represent utter mayhem.  But there wasn’t a chance of that with Executive Chef John Eisenhart at the helm.  Cool Cucumber, that man policed an operation that came off like butter.  (Said squeeze was so impressed, he even shook the chef’s hand and congratulated him at the end of the evening.)

Personal favorites on the menu include the Cinghale, which is a pork leg braised in duck fat and herbs with savoy cabbage, green apple, celery, and horseradish – in other words, Italian for delicious.  I’ve never been to Pazzo that somebody didn’t order the Gnocchi and love it.  Handmade, of course, these little potato pillows are mingled with a beef shortrib ragu and pecorino sfizio – obviously more words for delicious.  Will they never run out?

Pazzo also has and is its own bakery.  One can simply buy loafs of Beer Walnut Bread, Raisin Bread, Ciabatta or waltz in and order a pizza by the slice on homemade crust.

Pazzo Ristorante
Weekday breakfast 7:00 – 10:30, Weekend brunch 8:00 – 2:00
Weekday lunch 11:30 – 2:30
Dinner Mon – Thurs 5:00 – 10:00, Fri 5:00 – 11:00, Sat 4:30 – 11:00, Sun 4:00 – 9:30
Happy Hour 7 Days 3:00 – 6:00

627 SW Washington (at Broadway)
Portland, OR 97205
(503) 228-1515

www.pazzoristorante.com

Courtesy of PortlandNeighborhood.com

West Caf’e

West Café

What’s in a weekend brunch, I ask you?  After all, eggs, potatoes, meat portion of some kind – what’s the big deal?  Sadly, dear reader, this is not the first of my forays into gross naiveté.  But it does explain why when something fresh and exciting is offered up for morning dining, I for one take notice.  And that, my friends, is what we have going on at West Café.  Me, taking notice.  ‘Cause this stuff’s good.  Two poached eggs on Dungeness crab corn fritters and wilted greens (I prefer to order my greens on a separate plate,) served with soy mustard sauce and the best home fries I’ve ever tasted.  I kid you not, the best home fries ever.  Or try your eggs on homemade black bean cakes with cheddar, salsa, and sour cream.  Delish. 

Located on SW 12th and Jefferson, West Café offers everything from Tarragon Egg Salad sandwiches to Pan-Seared Cumin Rubbed Salmon and a slew of clever sounding martinis in between.  And from the chic décor sporting uniquely formatted photos of local flare to the friendly and informed staff, including bar manager, Christopher, and servers who won’t let you be seated without asking to take your coat – this place also serves up a slice of Portland that we’re oh so glad that owners Sean Concannon and Douglas B. Smith decided to share with us.

West Café
Weekday lunch 11:00 – 2:00, Weekend brunch 10:00 – 2:00
Dinner Sun – Thurs 5:30 – 10:00, Dinner Fri & Sat 5:30 – 11:00
Happy Hour 7 Days 4:00 – 6:00 and 9:00 – close

To Go operation serving coffee, breakfast and lunch fare begins daily at 8:00

1201 SW Jefferson Street
Portland, OR 97205
(503) 227-8189

www.westcafepdx.com

(courtesy of PortlandNeighborhood.com)

Pioneer Courthouse Square

The block was originally bought in 1849 by Elijah Hill, a shoemaker. He paid $24 and a pair of boots. Later the Portland School Board purchased the site and opened Central School in 1858 and was Portland’s first real schoolhouse. It was moved to an adjoining street in 1883 to make way for the Portland Hotel which occupied the site from 1890-1951. The elegant hotel was torn down and for the next 30 years the site was a parking lot. In 1979, the City acquired the block from Meier & Frank Company who donated $500,000 toward creating an open space. In 1980, a national design competition was held to select a design team. The winning team was led by Portland architect Will Martin, who died in a plane crash not long after the square was dedicated. Located across from its namesake, the historic Pioneer Courthouse, Pioneer Courthouse Square officially opened April 6, 1984, sharing Portland’s birthday 133 years before.The Square’s features include the Waterfall Fountain, built of granite; sixteen columns with classical pillars topped with carved yellow roses on which crawl pink-and-green spotted bugs; and two brick amphitheaters which provide seats for events. Other pieces of artwork include Tom Hardy’s sculpture of three racing horses and J. Seward Johnson’s Allow Me, a bronze statue of a man holding an umbrella. A signpost lets visitors know how far they would have to travel and in which direction to reach sights such as Walden Pond or Moscow’s Red Square. And every noon, the Weather Machine performs, forecasting upcoming weather by displaying one of three metal figures amid a show of mist and flashing lights. Helia, a golden sun, indicates a clear, sunny day; Blue Heron predicts mist, drizzle, and changeable weather; and fierce, open-mouthed Dragon forecasts storms. This whimsical machine also tells the temperature.

Visit the Pioneer Courthouse Square website at www.pioneercourthousesquare.org.

Home Inspections

Home Inspections Avert Future Headaches
Suppose you bought a house and later discovered, to your dismay, that the stucco exterior concealed a nasty case of dry rot. Or suppose that when you fired up the furnace in the winter, you discovered a cracked heat exchanger leaking gas into your home. The best way to avoid unpleasant surprises like these is to arrange for a home inspection before you buy.

Home Inspections Help You Avoid Unpleasant Surprises
A good home inspection is an objective, top-to-bottom examination of a home and everything that comes with it. The standard inspection report includes a review of the home’s heating and air-conditioning systems; plumbing and wiring; roof, attic, walls, ceilings, floors, windows, doors, foundation and basement.

Getting a professional inspection is crucial for older homes because age often takes its toll on the roof and other hard-to-reach areas. Problems can also be the result of neglect or hazardous repair work, such as a past owner’s failed attempt to install lights and an outlet in a linen closet.

A home inspection is also a wise investment when buying a new home. In fact, new homes frequently have defects, whether caused by an oversight during construction or simply human error.

Getting an Inspector
Real estate agents can usually recommend an experienced home inspector. Make sure to get an unbiased inspector. You can find one through word-of-mouth referrals, or look in the Yellow Pages or online under “Building Inspection” or “Home Inspection.”

Home inspections cost about a few hundred dollars, depending on the size of the house and location. Inspection fees tend to be higher in urban areas than in rural areas. You may find the cost of inspection high, but it is money well spent. Think of it as an investment in your investment – your future home.

Some builders may try to dissuade you from getting a home inspection on a home they’ve built. They may not necessarily be trying to hide anything because most builders guarantee their work and will fix any problems in your new home before you move in. Some builders, in fact, will offer to do their own inspections. But it’s best to have an objective professional appraisal – insist on a third-party inspector.

An Inspection Will Educate You about Your House
Education is another good reason for getting an inspection. Most buyers want to learn as much as they can about their purchase so they can protect their investment. An examination by an impartial home inspector helps in this learning process.

Ask if you can follow the home inspector on his or her rounds. Most inspectors are glad to share their knowledge, and you’ll be able to ask plenty of questions.

Inspection Timing and Results
Homebuyers usually arrange for an inspection after signing a contract or purchase agreement with the seller. The results may be available immediately or within a few days. The home inspector will review his or her findings with you and alert you to any costly or potentially hazardous conditions. In some cases, you may be advised not to buy the home unless such problems are remedied.

You could include a clause in your purchase agreement that makes your purchase contingent upon satisfactory inspection results. If major problems are found, you can back out of the deal. If costly repairs are warranted, the seller may be willing to adjust the home’s price or the contract’s terms. But when only minor repairs are needed, the buyer and seller can usually work out an agreement that won’t affect the sale price.

The Basics of Making an Offer

A written proposal is the foundation of a real estate transaction. Oral promises are not legally enforceable when it comes to the sale of real estate. Therefore, you need to enter into a written contract, which starts with your written proposal. This proposal not only specifies price, but also all the terms and conditions of the purchase. For example, if the seller offered to help with $2,000 toward your closing costs, make sure that’s included in your written offer and in the final completed contract, or you won’t have grounds for collecting it later.

REALTORS® have standard purchase agreements and will help you put together a written, legally binding offer that reflects the price as well as terms and conditions that are right for you. Your REALTOR® will guide you through the offer, counteroffer, negotiating and closing processes. In many states certain disclosure laws must be complied with by the seller, and the REALTOR® will ensure that this takes place.

If you are not working with a real estate agent, keep in mind that you must draw up a purchase offer or contract that conforms to state and local laws and that incorporates all of the key items. State laws vary, and certain provisions may be required in your area.

After the offer is drawn up and signed, it is usually presented to the seller by your real estate agent, by the seller’s real estate agent, if that’s a different agent, or often by the two together. In a few areas, sales contracts are drawn up by the parties’ lawyers.

What is in an Offer?
The purchase offer you submit, if accepted as it stands, will become a binding sales contract (known in some areas as a purchase agreement, earnest money agreement or deposit receipt). So it’s important that the purchase offer contains all the items that will serve as a “blueprint for the final sale.” The purchase offer includes items such as:

• address and the legal description of the property
• sale price
• terms: for example, all cash or subject to you obtaining a mortgage for a given amount
• seller’s promise to provide clear title (ownership)
• target date for closing (the actual sale)
• amount of earnest money deposit accompanying the offer, whether it’s a check, cash or promissory note, and how it’s to be returned to you if the offer is rejected – or kept as damages if you later back out for no good reason
• method by which real estate taxes, rents, fuel, water bills and utilities payments are to be adjusted (prorated) between buyer and seller
• provisions about who will pay for title insurance, survey, termite inspections, etc.
• type of deed to be given
• other requirements specific to your state, which might include a chance for an attorney to review the contract, disclosure of specific environmental hazards or other state-specific clauses
• a provision that the buyer may make a last-minute walkthrough inspection of the property just before the closing
• a time limit (preferably short) after which the offer will expire
• contingencies, which are an extremely important matter and that are discussed in detail below

Contingencies – “Subject to” Clauses
If your offer says “this offer is contingent upon (or subject to) a certain event,” you’re saying that you will only go through with the purchase if that event occurs. Here are two common contingencies contained in a purchase offer:

• The buyer obtaining specific financing from a lending institution: If the loan can’t be found, the buyer won’t be bound by the contract.
• A satisfactory report by a home inspector: for example, “within 10 days after acceptance of the offer.” The seller must wait 10 days to see if the inspector submits a report that satisfies the buyer. If not, the contract would become void. Again, make sure that all the details are explicitly stated in the written contract.

Negotiating Tips
You’re in a strong bargaining position, that is, you look particularly welcome to a seller, if:

• you’re an all-cash buyer
• you’re already have a preapproved mortgage and you don’t have a present house that has to be sold before you can afford to buy
• you’re able to close and take possession at a time that is especially convenient for the seller
  In these circumstances, you may be able to negotiate some discount from the listed price.

On the other hand, in a “hot” seller’s market, if the perfect house comes on the market, you may want to offer the list price (or more) to beat out other early offers.

It’s very helpful to find out why the house is being sold and whether the seller is under pressure. Keep the following considerations in mind:

• every month a vacant house remains unsold represents considerable extra expense for the seller
• if the sellers are divorcing, they may want to sell quickly
• estate sales often yield a bargain in return for a prompt deal

Earnest Money
This is a deposit that you give when making an offer on a house. A seller is understandably suspicious of a written offer that is not accompanied by a cash deposit to show “good faith.” A real estate agent or an attorney usually holds the deposit, the amount of which varies from community to community. This will become part of your down payment.

Buyers: the Seller’s Response to Your Offer
You will have a binding contract if the seller, upon receiving your written offer, signs an acceptance just as it stands, unconditionally. The offer becomes a firm contract as soon as you are notified of acceptance. If the offer is rejected, that’s that – the sellers could not later change their minds and hold you to it.

If the seller likes everything except the sale price, or the proposed closing date, or the basement pool table you want left with the property, you may receive a written counteroffer including the changes the seller prefers. You are then free to accept it, reject it or even make your own counteroffer. For example, “We accept the counteroffer with the higher price, except that we still insist on having the pool table.”

Each time either party makes any change in the terms, the other side is free to accept, reject or counter again. The document becomes a binding contract only when one party finally signs an unconditional acceptance of the other side’s proposal.

Buyers: Withdrawing an Offer
Can you take back an offer? In most cases the answer is yes, right up until the moment it is accepted, or even in some cases, if you haven’t yet been notified of acceptance. If you do want to revoke your offer, be sure to do so only after consulting a lawyer who is experienced in real estate matters. You don’t want to lose your earnest money deposit or find yourself being sued for damages the seller may have suffered by relying on your actions.

Sellers: Calculating Your Net Proceeds
When an offer comes in, you can accept it exactly as it stands, refuse it (seldom a useful response) or make a counteroffer to the buyers with the changes you want. In evaluating a purchase offer, you should estimate the amount of cash you’ll walk away with when the transaction is complete. For example, when you’re presented with two offers at the same time, you may discover you’re better off accepting the one with the lower sale price if the other asks you to pay points to the buyer’s lending institution.

Once you have a specific proposal before you, calculating net proceeds becomes simple. From the proposed purchase price you can subtract the following costs:

• payoff amount on present mortgage
• any other liens (equity loan, judgments)
• broker’s commission
• legal costs of selling (attorney, escrow agent)
• transfer taxes
• unpaid property taxes and water and other utility bills
• if required by the contract: cost of survey, termite inspection, buyer’s closing costs, repairs, etc.

Your present mortgage lender may maintain an escrow account into which you deposit money to be used for property tax bills and homeowner’s insurance. In that case, remember that you will receive a refund of money left in that account, which will add to your proceeds.

Sellers: Counteroffers
When you receive a purchase offer from a would-be buyer, remember that unless you accept it exactly as it stands, unconditionally, the buyer is free to walk away. Any change you make in a counteroffer puts you at risk of losing that chance to sell.

Who pays for what items is often determined by local custom. You can, however, negotiate with the buyer any agreement you want about who pays for the following costs:

• termite inspection
• survey
• buyer’s closing costs
• points paid to the buyer’s lender
• buyer’s broker fees
• repairs required by the lender
• home protection policy

You may feel some of these costs are none of your business, but many buyers – particularly first-timer buyers – are short of cash. Helping them may be the best way to get your home sold.

Environmental Issues

It seems that we hear a lot about environmental concerns these days. Much of it is simply the result of a greater awareness than in the past. And even though there isn’t anything to be concerned with in most homes, there are still a number of potential home environmental issues that buyers should be aware of.Water quality is probably the most common concern and the one most often tested for. Typically, a basic water quality test will check pH, water hardness, the presence of fluoride, sodium, iron and manganese, plus bacteria such as E-coli. Additionally, water may be tested for the presence of lead or arsenic. Water tests are most likely conducted on properties with well water.

In homes built before 1978, lead based paint may be present. Generally, if the lead based paint is in good condition, not cracking or peeling, it is not a hazard. If the condition is hazardous, the paint will either need to be removed or sealed in such a manner as to eliminate the hazard.

Another common environmental concern with the home is radon. Radon is a radioactive gas that comes from the natural decay of uranium in the soil. Pretty much all homes have some radon present, tests can determine if the level present is higher than what is considered safe. If the level is too high, a radon reduction system will need to be installed.

In older homes built more than 30 years ago, asbestos was used in many types of insulation and other building materials. If the asbestos is releasing fibers into the air, it needs to be removed or repaired by a professional contractor specializing in asbestos cleanup. But, if the asbestos material is in good repair, and not releasing fibers, it poses no hazard and can be left alone.

Alot of older homes had oil furnaces that required an oil tank. Some of the oil tanks were above ground but many of them were underground. The concern is with the underground tanks. They had a tendency to leak over the years and potentialy contaminate the soil around the tank. In most cases the oil tank can be decommissioned and certified by the Department of Environmental Quality (DEQ) that the oil that leaked in to the soil has been contained to an isolated pocket. The most severe situations is when the oil leaked in to the soil and made it’s way to underground water table. If the unground water has been contaminated you should be very cautious about moving forward with the purchase of the property.

Loan Related Closing Costs

Loan Origination Fee
This covers the administrative expenses in setting-up and processing the loan. The loan origination fee may be a percentage of the mortgage amount.

Points (optional)
An option for the home buyer is to pay points to lower the interest rate at which the loan will be repaid. Each point equals 1 percent of the mortgage amount. For example: on a $150,000 loan, 1 point would equal $1,500.

Appraisal Fee
The fee for having the house appraised may be incorporated into the closing costs or payment may be required by the lender at the time the loan application is submitted.

Credit Report
The lender uses a credit report to determine the creditworthiness of the loan applicant. This fee is often paid when the loan application is submitted.

Interest Payment
Typically the buyer is required to pay interest on the mortgage loan to cover the time between the closing date and when the first mortgage payment period begins. For example: If closing is on May 15. Your first monthly payment begins to accrue interest on June 1 with your first mortgage payment due July 1. At closing an interest payment covering the accrual period between May 15 and May 31 may be required.

Escrow Account
At closing a payment may be required to fund the escrow account if the lender is paying home insurance, property taxes and/or other expenses out of the escrow account.

Portland Buyers Market

Is it time to buy? There are many factors to consider before pulling the trigger on your purchase. Prices haven’t been this low in the Portland Real Estate market in years. Inventory of premium homes is high, so you have plenty of homes to choose from and typically there isn’t a lot of competition when you make an offer. Interest rates are close to a all time low, so you can definitely get more home for your money. New tax credits available for first time home buyers. We think this is the perfect time to buy if your a qualified buyer.

One of the first-steps in beginning a successful search for a new house is taking a hard, objective look at finances. Determining how much money you can dedicate to the purchase of your new house affects almost every aspect of buying a new home – including how we write the offer, which mortgage programs you will qualify for, shopping for the best mortgage loan and which homes are truly in your price range.

Here are the questions that each home buyer should ask:

• How much cash is available for a down payment? The amount you have available for a down payment will affect what types of loans for which you can qualify.
  Am I ready to write a check for the earnest money? Earnest money is a cash deposit made to a home seller to secure an offer to buy the property. This amount is often forfeited if the buyer decides to withdraw his offer.
• How much additional cash will be available to pay for closing costs? There are certain standard costs associated with closing the sale of a house. These fees are split between the buyer and the seller, as spelled out in the sales contract.
• What is the maximum monthly mortgage payment that I can afford? Most lenders will use the 28/36 rule to determine the maximum mortgage payment you can afford.

The 28/36 Rule – No more than 28% of your gross income can be applied to your mortgage, real estate taxes and insurance. And no more than 36% of your gross income can be applied to your mortgage expenses plus your regular debt expenses (car payments, credit cards, other loans, etc.).