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The #1 Reason to Put Your House on The Market TODAY!

by Amy McLeod Group

The National Association of Realtors (NAR) released the results of their latest Existing Home Sales Report which revealed that home sales declined 0.6% to a seasonally adjusted annual rate of 5.38 million in June from 5.41 million in May, and are 2.2% below a year ago. Some may look at these numbers and think that now is a bad time to sell their house, but in fact, the opposite is true.

The national slowdown in sales is directly tied to a lack of inventory available for the buyers who are out in the market looking for their dream homes! In fact, the inventory of homes for sale had fallen year-over-year for 36 consecutive months before posting a modest 0.5% gain last month and has had an upward impact on home prices.

NAR’s Chief Economist Lawrence Yun had this to say,

“It’s important to note that despite the modest year-over-year rise in inventory, the current level is far from what’s needed to satisfy demand levels. Furthermore, it remains to be seen if this modest increase will stick, given the fact that the robust economy is bringing more interested buyers into the market, and new home construction is failing to keep up.”

The few houses that are on the market are selling fast! According to NAR’s Realtors Confidence Index, properties were typically on the market for 26 days.

Bottom Line

If you are one of the many homeowners who is debating listing your house for sale this year, the time is now!

Let’s get together to discuss the specifics of our market! 971.208.5093 or [email protected].

By: KCM Crew

Exploring Salem Oregon: Dallas Summerfest

by Amy McLeod Group

Friday, July 27, 2018 - 10:00 AM to 8:00 PM
Saturday, July 28, 2018 - 9:00 AM to 6:00 PM
Sunday, July 29, 2018 - 7:00 AM to 4:00 PM

Join us at this hometown community event with local entertainment, BINGO, two large concerts, parade, youth art competitions, and the dunk-a-dignitary tank!

Downtown Dallas
168 SW Court St,
Dallas, OR 97338

503-623-2565

Event Website

Courtesy of Amy McLeod, The McLeod Group Network

Photo Credit: travelsalem.com

Lack of Listings Slowing Down the Market

by Amy McLeod Group

As the real estate market continues to move down the road to a complete recovery, we see home values and home sales increasing while distressed sales (foreclosures and short sales) continue to fall to their lowest points in years. There is no doubt that the housing market will continue to strengthen throughout 2018.

However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory!

Here’s what a few industry experts have to say about the current inventory crisis:

Lawrence Yun, Chief Economist for the National Association of Realtors

“Inventory coming onto the market during this year’s spring buying season…was not even close to being enough to satisfy demand, that is why home prices keep outpacing incomes and listings are going under contract in less than a month – and much faster – in many parts of the country.”

Sam Khater, Chief Economist for Freddie Mac

“While this spring’s sudden rise in mortgage rates [took] up a good chunk of the conversation, it’s the stubbornly low inventory levels in much of the country that are preventing sales from really taking off like they should… Most markets simply need a lot more new and existing supply to cool price growth and give buyers enough choices.”

Alexandra Lee, Housing Data Analyst for Trulia

This seasonal inventory jump wasn’t enough to offset the historical year-over-year downward trend that has continued over 14 consecutive quarters…Despite the second-quarter gain, inventory was down 5.3% from a year ago. Still, this represents an easing of the double-digit drops we’ve been seeing since the second quarter of 2017.”

Bottom Line

If you are thinking about selling, now may be the time. Demand for your house will be strongest while there is still very little competition which could lead to a quick sale for a great price.

Let’s get together and discuss your options! 971.208.5093 or [email protected]

By: KCM Crew

Exploring Salem Oregon: 69th Annual Salem Art Fair & Festival

by Amy McLeod Group

Friday, July 20, 2018 - 10:00 AM to 7:00 PM
Saturday, July 21, 2018 - 10:00 AM to 7:00 PM
Sunday, July 22, 2018 - 10:00 AM to 5:00 PM

The Salem Art Fair & Festival returns for the 69th time just blocks from downtown Salem. You will find more than 200 artists, live music, theatre, dance, beer & wine gardens, food booths, kids activities and plant sale!

Admission $5 a day or $10 for a three day pass.

Bush’s Pasture Park
890 Mission St. SE
Salem, OR 97301

503-581-2228

Event Website

Courtesy of Amy McLeod, The McLeod Group Network

1290 16th St NE: Charming One Level Home!

by Amy McLeod Group

Salem-Keizer OR Home For Sale
1290 16th St NE, Salem, OR  97301

Charming one level home is being sold as is allowing you the opportunity to add your own personal touches and turn it into exactly what you want! Laminate flooring, a wood burning fireplace, a galley kitchen with plentiful cabinet space, 2 generously sized bedrooms, a full bath and lots of natural lighting highlight 1290 16th St NE! Appreciate the nicely sized yard and the convenient location to all services. There is 448 sqft in the basement not included in the total that you could finish for even more living space. If you have been searching for a fixer upper to show some TLC, this just might be it! Seller has property inspection and repair bid- see assoc. docs.

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.

First-Time Home Buyers Continue to Put Down Less Than 6%!

by Amy McLeod Group

According to the Realtors Confidence Index from the National Association of Realtors, 61% of first-time homebuyers purchased their homes with down payments below 6% in 2017.

Many potential homebuyers believe that a 20% down payment is necessary to buy a home and have disqualified themselves without even trying, but in March, 71% of first-time buyers and 54% of all buyers put less than 20% down.

Ralph McLaughlin, Chief Economist and Founder of Veritas Urbis Economicsrecently shed light on why buyer demand has remained strong,

“The fact that we now have four consecutive quarters where owner households increased while renters households fell is a strong sign households are making the switch from renting to buying.

Households under 35 – which represent the largest potential pool of new homeowners in the U.S. – have shown some of the largest gains. While they only make up a third of all homebuyers, the steady uptick in their homeownership rate over the past year suggests their enormous purchasing power may be finally coming to [the] housing market.”

It’s no surprise that with rents rising, more and more first-time buyers are taking advantage of low-down-payment mortgage options to secure their monthly housing costs and finally attain their dream homes.

Bottom Line

If you are one of the many first-time buyers unsure of whether or not they would qualify for a low-down payment mortgage, let’s get together and set you on your path to homeownership! 971.208.5093 or [email protected].

By: KCM Crew

Salem-Keizer OR Home For Sale
4668 Tate Ave N, Keizer, OR  97303

Straight out of the pages of “House Beautiful” this impossible to find, custom built single level home is sure to impress, both inside and out! Nestled in a quiet, secluded neighborhood, 4668 Tate Ave is loaded with tasteful amenities and upgrades….a vaulted, open floor plan, soaring high ceilings, gorgeous hardwood floors, modern fixtures, recessed lighting, neutral paint colors, plus 4 bedrooms and 2.5 baths! A brilliant combination of beauty and function, you will delight in this gourmet kitchen featuring custom cabinets, granite counters, center island, stainless steel appliances and a walk in pantry. Opening to the dining area and cozy family room with gas fireplace creates a comfortable space for entertaining and daily function. Grab a good book and happily linger in the formal living room or use as a home office. Relax in your soothing master suite where vaulted ceilings, plush carpeting, a tiled, walk in shower, dual granite vanity and walk in closet are yours to enjoy! The three secondary bedrooms are generously sized providing plenty of space for all your needs. A spacious laundry room with granite counters and abundant cabinetry helps you stay organized. The beautifully landscaped lot is fully fenced with a covered patio for outdoor enjoyment, plus UGS. Once you visit this Tate Estates home, you will never want to leave!

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.

Exploring Salem Oregon: Marion County Fair

by Amy McLeod Group

July 12 - 15, 2018    

Traditional county fair with 4H/FFA exhibits, carnivals, commercial and food vendors, national acts entertainment, bull-riding, talent show, exotic animals, pony rides and more. Adults $9.

Oregon State Fairgrounds
2330 17th St. NE

Salem, OR 97301

503-585-9998

www.mcfair.net

Courtesy of Amy McLeod, The McLeod Group Network

Photo Credit: travelsalem.com

The #1 Reason to List Your House for Sale NOW!

by Amy McLeod Group

If you are debating whether or not to list your house for sale this year, here is the #1 reason not to wait!

Buyer Demand Continues to Outpace the Supply of Homes for Sale

The National Association of Realtors’ (NAR) Chief Economist Lawrence Yun recently commented on the current lack of inventory:

“Inventory coming onto the market during this year’s spring buying season– as evidenced again by last month’s weak reading – was not even close to being enough to satisfy demand. 

That is why home prices keep outpacing incomes and listings are going under contract in less than a month – and much faster – in many parts of the country.”

The latest Existing Home Sales Report shows that there is currently a 4.1-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market, and 6.1% lower than last year’s inventory level.

The chart below details the year-over-year inventory shortages experienced over the last 12 months:

Anything less than a six-month supply is considered a “seller’s market.”

Bottom Line

Let’s get together to discuss the supply conditions in our neighborhood so that I can assist you in gaining access to the buyers who are ready, willing, and able to buy right now! 971.208.5093 or [email protected]

By: KCM Crew

Exploring Salem Oregon: Retro Movie Night

by Amy McLeod Group

Friday, July 6, 2018 - 5:30 PM

Join us for Retro Movie Night and of course snacks and wine. We will be featuring Dirty DancingGrease and finishing with Princess Bride. Free admission.

Eola Hills Wine Cellars
501 S Pacific Hwy. 99W
Rickreall, OR 97371

503-623-2405

www.eolahillswinery.com

Courtesy of Amy McLeod, The McLeod Group Network

Photo Credit: travelsalem.com

Displaying blog entries 1-10 of 12

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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.