Rethinking the consequenes

You’ve all read about it. Buy and Bail. Walkways. It’s all over the news. For those considering these ideas here in Salem…have you really thought it through. In the buy and bail scenario, a homeowner with good credit purchases a second home and then lets the first home go into foreclosure. With their good credit…

July 2008 Salem Region Market Conditions

Here are the regional stats for our Salem housing market for June. The MLS tracks 6 regions here in Salem. These stats are for single family units which includes condos. Central Salem Average Sold Price: $163,971 Median Sold Price: $156,000 Average DOM: 129 Current Inventory: 8.2 months Suburban E Salem/North (Jan Ree, Haysville, etc) Average…

Negotiate Commission Says CR

Commissions are negotiable is a mantra of the real estate world. The reason for this is to dispel the myth that there is a standard “6%” commission. That would be price fixing. Not good… So recently Consumer Reports did a study about negotiating real estate commissions. What did they find? Drum roll…you can negotiate commissions.…

HOA’s and Property Rights

There is a healthy debate happening on a forum with regard to HOA’s. The title of the thread is I hate my HOA. Many posters agreed with the original poster about how awful HOA’s are and there was a lot of HOA bashing. One wrote: “I still do not even understand why and how HOAs…

Taking riders to a whole new level.

Kris Berg wrote a recent blog about a sign with a special rider on it. The sign is most definately a sign of the times. As an agent, buyers are always asking me “how low” can they offer. Yes, I have had sellers get insulted with the offer my buyer wanted to make. Maybe, I…