“Buyer gets 50% off short sale listing!”…”Homes in Detroit selling for $1.” I know some buyers are thinking this will happen here in Salem Oregon as well. Smack! That’s the sound of those buyers hitting their heads up against the wall because those stellar deals they read about on Google, aren’t coming to fruition here. …
I used to do drama in high school and one of the school plays was Arsenic and Old Lace. In 1944 it was made into a movie starring Cary Grant and the premise behind it was that a man finds out that his beloved aunts are homicidal maniacs that poison people with arsenic. It’s a…
Non-recourse. If you are spending any time talking about real estate and loans, then you have probably heard the word recourse and non-recourse. Here in Salem area, most home loans are non-recourse loans. What this means is that if the bank forecloses on your home, the home itself is the sole means they have for…
Why is it that when you go to a conference you return home totally exhausted when you just sat there all day? I recently went to RE BarCamp in Portland. It’s a real estate techie kind of deal. Anyway…they pulled my blog up on the screen and I got some feedback and will have some…
Foreclosures, short sales and bargains on the brain. I get this. Buyers want deals and with the national news out there with some areas hit by tons of foreclosures, it is easy to see why buyers think every home is in foreclosure. So here’s the deal…well at least the deal for the 30 minutes it…
I had a reader…thank you reader…who asked about prices for acreage properties. Now I had planned to post this a few days ago, but I was too busy playing hookey due to the nice weather we have had. I mentioned on Facebook today that I thought it should be an Oregon law that no one…
I’m going to deviate from my normal real estate focus to share with you some photos. Originally I came from the Chicago area to Portland to Salem. I wasn’t sure how I would feel about giving up those “big city” things to do. I have to tell you that the local community festivals in Marion…
My kids were just asking me the other day to head to the Dallas Water Park (which is very cool if you haven’t been there yet), so I figured I’d do the market reports about Dallas. The average home price is down 7% from the first quarter of 2007, but up 6% from 2008. The…
Silverton started the 2009 year with 35 months of inventory, dropped to 27 and now is up at 30.5 months. That is 2 1/2 years worth of inventory. Too much. 30 day absorption rate: 4 Inventory: 30.5 months Average Price: $255,625 Median Price: $230,500 DOM: 184 Again due to the small numbers of sold…
Amy left this comment on one of my posts about the Salem Oregon real estate market and it seemed like it would be a good post. Amy asked: What’s the state of the financing market? We hear so much bad news in the media, but I see people buying homes, cars, etc. What is the…