A look at current Salem inventories

One of the things that I think is really important when looking at real estate market information is to be as hyper-localized as possible. Clearly I wouldn’t compare home prices in Salem, OR to homes prices in Seattle: two different cities with different local markets. The same is true for within a local area. This…

Drawing the Line

Unless you have been living in the batcave, you know that foreclosures are nothing new. Foreclosure rates are up all over the county for a variety of reasons: true hardships, subprime borrowers, and those trying to Keep up with the Joneses. I was recently in the outside blogosphere and came across this interesting discussion on…

Why is unemployment so high in Oregon?

Home buyers looking to relocate to Oregon often ask me this question. What you need to know is that Oregon consistently ranks at the top for unemployment. The reason is pretty basic, in my opinion… Up until the 1980’s logging was a huge industry in Oregon and made up a good chunk of our manufacturing/industrial…

15 Pearls of Wisdom

If you had to do one thing over again when buying a house what would it be? I participate on another forum and there is a great thread being written by consumers and agents alike about what they would do differently now that they know about home ownership and the process. I thought the information…

What is the market supposed to correct to?

With so much information flying around the media about the real estate market, it is really hard for buyers and sellers to sort through it. Recently someone asked “I hear about correction, correction, but what is it supposed to correct to?” Robert Schiller a Yale economist studied the long term impact of real estate as…

And so it goes…

The Wall Street Journal is reporting today that the rumors are confirmed, Washington Mutual (WaMu) is closing all 186 of it’s loan centers and laying of 3,000 employees. They will continue to offer loans, but intend to focus on it’s 2,500 banks and small business lending offices. They sent an email to brokers yesterday letting…