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.…

Love hindsight

Someone recently brought this video to my attention. It is just under 10 minutes, but Peter Schiff’s speech‘s is dead on as to the dynamic that we are in today. If you are interested in why the market is in the position we are in, he is worth watching.