I have been talking with a lot of people about relocating to Salem Oregon lately. I thought I would do a blog series for all of the relocaters about our area. What type of jobs are available here is a very common question. First thing to know, Salem is the state capital of Oregon so…
A common question I get as a real estate agent is “what are the neighbors like?” Most of the time I don’t know. I haven’t met them or seen them. What the buyer’s of a home are interested in are whether or not their neighbors are jerks or not. Some states have nuisance laws so…
Knowing how much inventory is on the market is an important statistic to know when considering the price of your home. These figures are for residential home sales. The absorption rate is how fast homes are selling on a monthly basis. Inventory is how long it would take homes to sell at that rate assuming…
You all know the drill. Grab some coffee, as the next few posts are going to be my July real estate market updates. For residential homes sales in Salem, Oregon… The 180 day trend: Median sold price: $199,900 Average sold price: $220,454 Average original list price: $225,666 % of listing price to sale price: 97.7%…
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…
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…
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.…
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…
The second quarter has ended for the real estate market. Here is where our local markets currently stand. Market data information is from the local WVMLS. Here is what is occurring in the cities of Monmouth-Independence area in real estate… Monmouth: Average Sales price: The average sales price in the 2nd quarter is $210,191 up…
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…