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Displaying blog entries 1-10 of 17

Salem-Keizer OR Home For Sale: 566 45th Place NE, Salem, OR 97301

by Amy McLeod Group

Salem-Keizer OR Home For Sale
566 45th Place NE, Salem, OR  97301

Welcome home to 566 45th Place NE, an affordable one level home just waiting for one lucky buyer. Enjoy a light and airy open floor plan featuring 3 bedrooms, 1 full bath, fresh paint, a new roof, hardwood floors, built ins, cedar siding and an attached 1 car garage. Spacious and bright living room with a toasty wood burning fireplace provides plenty of room for the whole family and guests! Effortlessly flowing to the dining area and kitchen with abundant cabinetry and easy care flooring, plus the refrigerator and microwave are included. The three generously sized bedrooms feature hardwood floors, plentiful closet space and a shared bathroom for ample space to grow and privacy for all. Tons of room in the large fenced yard for gardening and entertaining. Make your appointment today to view this fabulous deal in Salem OR.

The McLeod Group Network has distinguished themselves as a leader in the Salem Oregon real estate market. As a full service, real estate team - focused on working with our Seller and Buyer clients to help achieve their real estate goals!

We bring a keen eye for the details of buying or selling a Salem Oregon home and seemingly boundless determination and energy, which is why our clients benefit from our unique brand of real estate service. Rooted in Tradition, focused on the Future –The McLeod Group Network will help make the most of your Salem Oregon real estate experience. With over 40 years of combined experience, you can rest assured that your real estate transaction will be handled and cared for with the utmost respect and attention to detail. Give us a call today 503-798-4001 and discover the difference we can make during your family's move.

2 Charts That Show the Truth about Home Affordability

by Amy McLeod Group

There is a lot of discussion about the current state of housing affordability for both first-time and move-up buyers, and much of the narrative is tarnished with a negative slant. However, the truth is that housing affordability is better today than at almost any time in our history.

The naysayers are correct in the fact that affordability today is not as good as it has been over the last several years. But, we must remember that home prices collapsed during the housing crash, and distressed properties (foreclosures and short sales) kept home values depressed for years. When we compare affordability to the decades that proceeded the crash, a different story is revealed.

Here is a graph of the National Association of Realtors’ Housing Affordability Index. The higher the graph, the more affordable homes are.

We can see that affordability is better today than in the fifteen years prior to the boom and bust.

CoreLogic just published a report showing the National Homebuyers’ “Typical Mortgage Payment.” Here is a graph of their findings:

It reveals that, though a ‘typical’ housing payment was less expensive in 2012 (remember distressed properties), it is currently less expensive than it was in 2000 and is still projected to be lower next year than it was in 2000.

Bottom Line

Mark Fleming, Chief Economist at First American, explained it best:

“While borrowing power for the potential home buyer has fallen relative to the low point of 2012, it remains high today and will remain high next year, relative to the long run average. If you don’t want to rent anymore and are considering becoming a homeowner, even if mortgage rates rise next year, your borrowing power will remain strong by historic standards.”

Contact The McLeod Group Network to discuss your home buying options! 971.208.5093 or [email protected]

By: KCM Crew 

The Cost of NOT Owning Your Home

by Amy McLeod Group

Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed.

Zillow recently reported that:

“In reality, buying or renting a home is an intensely personal decision, with emotional and even financial considerations that go beyond whether to invest in this one (admittedly large) asset. Looking strictly at housing market numbers, there is a concrete point at which buying a home makes more financial sense than renting it.”

 

What proof exists that owning is financially better than renting?

1. We recently highlighted the top 5 financial benefits of homeownership:

  • Homeownership is a form of forced savings.
  • Homeownership provides tax savings.
  • Homeownership allows you to lock in your monthly housing cost.
  • Buying a home is cheaper than renting.
  • No other investment lets you live inside of it.

2. Studies have shown that a homeowner’s net worth is 44x greater than that of a renter.

3. Just a few months ago, we explained that a family that purchased an average-priced home at the beginning of 2017 could build more than $48,000 in family wealth over the next five years.

4. Some argue that renting eliminates the cost of taxes and home repairs, but every potential renter must realize that all the expenses the landlord incurs are already baked into the rent payment– along with a profit margin!!
 

Bottom Line
Owning a home has always been, and will always be, better from a financial standpoint than renting.

Meet with McLeod Group Network to discuss your options! 971.208.5093 or [email protected]

By: KCM Crew

Exploring Salem Oregon: Christmas in the Garden

by Amy McLeod Group

Nov. 24-Dec. 31. Twinkling lights, artisan vendors, ice skating, photos with Santa, traditional German food, carolers, and more. Pricing and activities vary by night

The Oregon Garden
879 W Main St.
Silverton, OR 97381

503-874-8100

Event Website

Courtesy of Amy McLeod, The McLeod Group Network

Happy Thanksgiving!

by Amy McLeod Group

Courtesy of Amy McLeod, The McLeod Group Network

Access is an Important Factor in Getting Your House SOLD!

by Amy McLeod Group

So, you’ve decided to sell your house. You’ve hired a real estate professional to help you with the entire process, and they have asked you what level of access you want to provide to potential buyers.

There are four elements to a quality listing. At the top of the list is Access, followed by Condition, Financing, and Price. There are many levels of access that you can provide to your agent so that he or she can show your home.

Here are five levels of access that you can give to buyers, along with a brief description:

  1. Lockbox on the Door – this allows buyers the ability to see the home as soon as they are aware of the listing, or at their convenience.
  2. Providing a Key to the Home – although the buyer’s agent may need to stop by an office to pick up the key, there is little delay in being able to show the home.
  3. Open Access with a Phone Call – the seller allows showings with just a phone call’s notice.
  4. By Appointment Only (example: 48-Hour Notice) – Many buyers who are relocating for a new career or promotion start working in that area prior to purchasing their home. They often like to take advantage of free time during business hours (such as their lunch break) to view potential homes. Because of this, they may not be able to plan their availability far in advance or may be unable to wait 48 hours to see the house.
  5. Limited Access (example: the home is only available on Mondays or Tuesdays at 2pm or for only a couple of hours a day) – This is the most difficult way to be able to show your house to potential buyers.

In a competitive marketplace, access can make or break your ability to get the price you are looking for, or even sell your house at all.

Contact The McLeod Group Network to discuss how much your current home is worth! 971.208.5093 or [email protected]

 

By: KCM Crew

Homeowners: Your House Must Be Sold TWICE

by Amy McLeod Group

In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 5%+ over the next twelve months. One major challenge in such a market is the bank appraisal.

If prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that recently closed) to defend the selling price when performing the appraisal for the bank.

Every month in their Home Price Perception Index (HPPI), Quicken Loans measures the disparity between what a homeowner who is seeking to refinance their home believes their house is worth, and an appraiser’s evaluation of that same home.

Bill Banfield, Executive VP of Capital Markets at Quicken Loans urges anyone looking to buy or sell in today’s market to remember the impact of this challenge:

“Based on the HPPI, it appears homeowners in the markets where prices are rising faster than the national average – like Denver, Seattle and San Francisco – are continuing to underestimate just how quickly home values are rising, so the average appraisal is higher than homeowner estimate.

On the inverse of that, homeowners in areas where the values aren’t rising as fast may think they are rising faster than they are, leading to the appraisal lagging the estimate.”

The chart below illustrates the changes in home price estimates over the last 12 months.


Bottom Line

Every house on the market must be sold twice; once to a prospective buyer and then to the bank (through the bank’s appraisal). With escalating prices, the second sale might be even more difficult than the first.
If you are planning on entering the housing market this year, let’s get together to discuss this and any other obstacles that may arise. 971.208.5093 or [email protected]

 

By: KCM Crew

Salem-Keizer OR Home For Sale: 895 16th Street NE, Salem, OR 97301

by Amy McLeod Group

Salem-Keizer OR Home For Sale
895 16th Street NE, Salem, OR  97301

Englewood charmer situated on a lovely corner lot on a picturesque tree lined street! The light and bright flowing floor plan of this home offers so much space for family function and guests featuring hardwood floors, beautiful built-ins, exposed beams, lovely moldings and trim, large windows letting the natural light in, plus cedar siding and a detached 1 car garage. Kick back, relax and toast your toes by the fireplace in this cozy living room. The connecting dining room is sure to impress with its full wall built in hutch! Hosting all the holiday gatherings will be a delight! The cute country kitchen provides lots of cabinet space, a sunny eat in area and access to the side deck. The spacious family room in the finished basement provides so much extra living space – perfect for media or play room. The four generously sized bedrooms provide plenty of room to grow and privacy for all with two on the main level and two upstairs. You are sure to appreciate the convenient location close to city center and services. Retreat from the hustle and bustle of everyday life simply by coming home!

The McLeod Group Network has distinguished themselves as a leader in the Salem Oregon real estate market. As a full service, real estate team - focused on working with our Seller and Buyer clients to help achieve their real estate goals!

We bring a keen eye for the details of buying or selling a Salem Oregon home and seemingly boundless determination and energy, which is why our clients benefit from our unique brand of real estate service. Rooted in Tradition, focused on the Future –The McLeod Group Network will help make the most of your Salem Oregon real estate experience. With over 40 years of combined experience, you can rest assured that your real estate transaction will be handled and cared for with the utmost respect and attention to detail. Give us a call today 503-798-4001 and discover the difference we can make during your family's move.

Saturday, November 18 - 11:00 AM to 5:00 PM

Barrel tasting, delicious food, and an incredible view. Serving Tri-Tip sandwiches, butternut squash soup, homemade sausage, smoked salmon pate, cheeses and more. Meet the winemaker and sample a future release. Everything included with a $10 tasting fee. 

Redhawk Vineyard & Winery
2995 Michigan City Ln NW
Salem, OR 97304

503-362-1596

Event Website

Courtesy of Amy McLeod, The McLeod Group Network

Mortgage Interest Rates Are Going Up… Should I Wait to Buy?

by Amy McLeod Group

Mortgage interest rates, as reported by Freddie Mac, have increased over the last several weeksFreddie Mac, along with Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors, is calling for mortgage rates to continue to rise over the next four quarters.

This has caused some purchasers to lament the fact that they may no longer be able to get a rate below 3.5%. However, we must realize that current rates are still at historic lows.

Here is a chart showing the average mortgage interest rate over the last several decades:

Bottom Line

Though you may have missed getting the lowest mortgage rate ever offered, you can still get a better interest rate than your older brother or sister did ten years ago, a lower rate than your parents did twenty years ago, and a better rate than your grandparents did forty years ago.

Contact The McLeod Group Network to discuss your options! 971.208.5093 or [email protected]

By: KCM Crew 

Displaying blog entries 1-10 of 17

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Contact Information

Photo of The McLeod Group Network Real Estate
The McLeod Group Network
Keller Williams Capital City
1900 Hines St SE #220
Salem OR 97302
971-208-5093
Fax: 971-599-5229

**Disclaimer: Amy McLeod, and her team, do not initiate, process, or service mortgages.  And provide this information only as a service.  You should confirm information here with your Licensed Mortgage Lender.