Just a couple of days ago I wrote about the new home buyer tax credit that was passed as part of the American Recovery Act. I saw this great little chart on the National Association of Realtors site that quickly summarized the differences for you. The common misperception I am hearing from buyers is that…
With the recent jump in short sales here in the Salem Oregon metro real estate market, it seems like a good time to talk about what they are and aren’t. There are several homes listed on the WVMLS now as short sale attempts, but what is the process for a successful short sale? Sellers need…
$7500…$15,000…$8,000… I didn’t write about the tax credit before because it seemed to change by the hour as to what it would finally look like. Here is what is written in the full summary provided by the House Ways and Means Committee… The 10% tax loan with a maximum of $7500, from last year, will…
RealtyTrac comes out with national foreclosure data every month, and according to their latest report, Oregon ranked #5 for foreclosure rate with a 1 in every 357 homes being served with a foreclosure notice. What does this mean for Salem Oregon home buyers and sellers? Foreclosures are definitely running hotter in general. Foreclosure notices in…
“Is this a short sale?” I can’t tell you how many agents are asking me that question on my regular listings here in Salem Oregon. I really want to scream…NOT ALL HOMES FOR SALE ARE DISTRESSED. In fact here in Salem Oregon only a small percentage are short sale or foreclosure attempts. MOST are regular…
I was reading Eugene Loan Guy, Fred Chamerlain’s blog today, and he was talking about a new loan program called HomePath for Fannie Mae homes. For folks wanting to build remodeling money into their mortgage there has always been the FHA streamline and regular FHA rehab loans, as well as renovation loans available through conventional…
Independence: 30 day absorption rate: 2 Inventory: 24 months Average Price: $176,750 Median Price: $176,750 Average DOM: 113 Independence had been creeping towards normal. Like many small towns with few sales, the inventory numbers tend to jump all over the map. Monmouth: 30 day absorption rate: 3 Inventory: 13 months Average Price: $173,333 Median Price:…
Stayton: 30 day absorption rate: 4 Inventory: 13.5 months Average Price: $197,300 Median Price: $217,100 Average DOM: 126 Stayton did not have the big jump in inventories like the other metro cities did.It has been struggling since last year and those struggles remain constant at this point in time. Aumsville: 30 day absorption rate: 0…
After running all of those heinous inventory numbers, there is really only one option for sellers in Salem Oregon. Get with the program if you want to sell. So what is the program? Keep your house clean and make it look good. I know…top secret information here… Seriously though…I have learned in my life that…
Silverton: 30 day absorption rate: 3 Inventory: 35 months Average Price: $214,129 Median Price: $182,988 DOM: 126 Silverton started the 2008 year with 24 months of inventory but had corrected to around a 9-month inventory by August. Homes were dumped back on the market and ended 2008 back at that 24-month inventory number. Sales have…