This is a series of blog posts about real estate in Salem Oregon written by Melina Tomson of Tomson Burnham, a small boutique real estate brokerage in Salem Oregon.  The blog has articles about local real estate market conditions from Salem, Keizer, Independence, Monmouth, Dallas, Stayton, Aumsville and Silverton.

The blog covers topics from market conditions to happenings inside the real estate industry that might impact consumers to new technologies that are housing-related.  Community information for home buyers looking to relocate to Salem is also housed in our blog as we discuss our local favorites.

Union Street Bridge a welcome project

Purchasing a home in West Salem has always been frought with concerns over the bridge. There is only one bridge connecting the two parts of Salem and when there is a traffic accident or a jumper, the bridge can be closed for hours, reeking havoc on the city. As a real estate agent, I have…

100% financing will be gone soon…

100% financing allowed many home buyers to get into homes in the past few years. With the mortgage markets in turmoil and home prices plunging, banks are having to go back to more conservative methods of lending in order to maintain liquidity. After March 31st, no MI company including MGIC, PMI, RMIC, Radian, UG or…

A Roller Coaster of a Ride

This video was posted about 11 months ago before the dig dip in the real estate market. The maker of the video took the yearly data for real estate and set the data points to a roller coaster. It certainly puts the market into perspective and reminds us that the market has always had its…

In the eye of the beholder

I was recently on another forum answering questions for people about our area, when someone commented about the overuse of certain descriptors in real estate. In real estate, we have a term calling puffing. This is where a real estate agent promotes their listing with a verbose use of adjectives that makes most consumers head…

Countrywide being investigated

Reuters is reporting that Countrywide is being investigated by the FBI. Here is a link to the Reuters article. http://biz.yahoo.com/rb/080309/countrywide_inquiry.html?.v=1 Several states have already launched investigations against some appraisers, and so it is not surprise that lenders are going to be investigated for the housing mess as well. With lenders having lax practices, investors purchased…

Chatnika Heights Neighborhood in Salem Oregon

Located on the West side of Salem (ie across the river in Polk County), Chatnika Heights is a combination of homes built in the 1960’s to homes built until the past decade. As a result, a wide range of architectural styles fills this neighborhood. Tri-levels, ranches, traditional two story homes, and the occasional contemporary style…

FHA loan limits increase

FHA has been revising its loan limits across the country, which is good news for many potential home buyers. The loan limits are different for each county in the United States depending on real estate costs. With 100% financing become very difficult, many people with excellent paying jobs, but not enough for a large down…