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How Does the Supply of Homes for Sale Impact Buyer Demand?

by Amy McLeod Group


The price of any item is determined by supply, as well as the market’s demand for the item. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.

Their latest edition sheds some light on the relationship between seller traffic (supply) and buyer traffic (demand).

Buyer Demand

The map below was created after asking the question: “How would you rate buyer traffic in your area?”

The darker the blue, the stronger the demand for homes is in that area. The survey shows that in 3 of the 50 U.S. states, buyer demand is now very strong; only 2 of the 50 states have a ‘weak’ demand. Overall, buyer demand is slightly lower than this time last year but remains strong.

Seller Supply 

The index also asked: “How would you rate seller traffic in your area?”

As the map below shows, 18 states reported ‘weak’ seller traffic, 29 states and Washington, D.C. reported ‘stable’ seller traffic, and 3 states reported ‘strong’ seller traffic. This means there are far fewer homes on the market than what is needed to satisfy the buyers who are looking for homes.

Bottom Line

Looking at the maps above, it is not hard to see why prices are appreciating in many areas of the country. Until the supply of homes for sale starts to meet buyer demand, prices will continue to increase. If you are debating listing your home for sale, let’s get together to help you capitalize on the demand in our market now.

Contact The McLeod Group Network at 971.208.5093 or [email protected] for ALL your Real Estate needs! 

By: KCM Crew

6453 Jaymar Drive NE: Beautiful Keizer Home in Great Location!

by Amy McLeod Group

Salem-Keizer OR Real Estate For Sale
6453 Jaymar Drive NE, Keizer, OR  97303

01_Jaymar2.jpg08_Jaymar9.jpg15_Jaymar16.jpg23_Jaymar24.jpg27_Jaymar28.jpg30_Jaymar31.jpg37_Jaymar38.jpg13_Jaymar14.jpg14_Jaymar15.jpg

You will want to snap this one up now! Beautifully maintained! Possible multi-generational living! Close to everything! Do not miss this special opportunity in Keizer! This split entry home is loaded with the finest features including vaulted ceilings, easy care flooring, a gourmet kitchen, modern fixtures, recessed lighting, 5 bedrooms and 3 full baths, plus a hard to find 550 sqft shop plumbed for a bath with an upstairs office perfect for a home based business! Get inspired in this gorgeous custom kitchen featuring glistening granite countertops, a huge center island, an abundance of beautiful cabinetry, a tile backsplash and stainless steel appliances! Kitchens are made for bringing family together, so let your meals and memories be made here! The vaulted living room is a comfortable space to kick back and relax. These open spaces are perfect for entertaining and daily function! A stone fireplace creates an appealing focal point in the family room. Pampering you with both luxury and convenience the master suite offers plush carpeting, elegant crown molding, a walk in closet, dual vanity, soaking tub and an enclosed, tiled shower! This room will have you feeling like you are staying in a five-star resort! Relax in a whimsical backyard designed for grillin’, chillin’ and s’mores around the firepit! A deck off the kitchen has a catwalk over to the shop with plenty of room to bask in the sun! There is also an attached 2 car garage for all your storage needs. With so much to offer in quality and location, this beauty will not last! Come take a look today!   

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: Family Apple Fest

by Amy McLeod Group


September 28, 2019

10:00 AM - 3:00 PM PDT

Free family event sponsored by Polk County Historical Society and Polk County Cultural Coalition. Demonstrations of pioneer practices. Activities for children. Country Store. Polk County Master Gardeners on site. Cider pressing and sales. Delicious desserts for sale. Fiddle music by Truman Price. Free House tours.

Event Website

Brunk Farmstead 5705 Dallas-Salem Highway Salem, OR 97304

For More Information call: Ann Gage 503-857-6413, leave a message Or 503-623-6251, M, T-Sa, 1pm-5pm

Desserts and cider for sale. Country Store items for purchase. Free House tours.

Courtesy of Amy McLeod, The McLeod Group Network

Photo Credit: polkcountyhistoricalsociety.org

Don't Fall Short! 6 Home Maintenance Tasks You Should Tackle This Autumn

by Amy McLeod Group


Autumn brings pumpkins and—love 'em or hate 'em—pumpkin spice lattes, sweater weather, and spooky skeletons. But most importantly, fall brings an end to a summer of outdoor adventures—and tedious yard tasks like weeding, mowing, and watering the lawn.

But just because the weather's cooling off doesn't mean your to-do list will, too. Before busting out the cinnamon spice and mulled wine, take on a few home maintenance tasks that will put you in good standing once temperatures dip.

"It's easier to prepare for a winter emergency in the fall," says Jericho McClellan, who works in construction management.

But fear not: We've got you covered with our checklist of home maintenance chores to tackle this season. Read on for details about where to start, and whom to call if you need backup.

1. Properly store your yard equipment

Storage shed
Björn Forenius/iStock

 

One of the best parts about fall: You can usually put your lawn mower into hibernation mode until spring.

But before you forget about that pesky piece of machinery entirely, remember this: Spring will suck if you don't prep your equipment this fall. That's because gasoline reacts with the air in the tank if left long enough, causing oxidation, which creates small deposits that can affect the performance of your mower.

And it's not just gas-powered equipment that needs a fall refresh.

Lester Poole, Lowe's live-nursery specialist, recommends running pressurized air through your pressure washers to remove any remaining water in the system, which will prevent freeze damage to the pumping mechanisms.

If your winter is particularly snowy and gritty, you'll be glad to have your pressure washer on high alert.

DIY: This project is easy to do yourself—just get rid of any spare gasoline. Many cities and counties have hazardous-waste programs, or your local auto parts store might take the old gas for you, too.

2. Protect your pipes

When temps dip below freezing, unprotected pipes can burst from exposure. Guard against burst pipes by wrapping them in foam insulation, closing foundation vents (more on that below), and opening cabinet doors under sinks to allow warm air to flow around supply lines. And make sure to keep your thermostat at 60 degrees or higher overnight.

If you haven't tracked down your home's water shut-offs yet, now's the time. They might be located outside your house or in your crawl space. Once you've found them, give them a test.

"The winter is not a fun time to try to figure that out, especially should a pipe burst," McClellan says. (More on that, too, in a minute.)

Now's also a good time to drain all of your exterior water hoses to prevent an icy emergency.

DIY: If your pipes do freeze, leave the affected faucets on and turn off your water supply, says Jenny Popis, a Lowe's Home Improvement spokeswoman. Then locate the freeze point by feeling the length of frozen pipes to determine which area is coldest. You can attempt to thaw it by wrapping the frozen section in washcloths soaked in hot water—then thaw until you have full water pressure.

Call in the pros: If you can't locate the freeze point or your pipes have burst, call in a licensed plumber, which will run $150 to $600 on average(depending on the severity of the leak).

3. Clear out your crawl space

While you're winterizing your pipes, peek around your crawl space. Is your HVAC system blocked by boxes of 50-year-old Mason jars? Can you get to any leaking pipes quickly?

DIY: While it's still warm, clear out any debris from your crawl space to ensure clear passage when winter's worst happens.

Call in the pros: Creeped out by the idea of crawling around under your house? Professional crawl space cleaners charge about $500 to $4,500, depending on the size of your house and the state of the space.

4. Close your crawl space vents

During your crawl space expedition, this is a must-do: Close the vents that circle your home's perimeter.

"The vents were placed there for a functional reason, not just aesthetics," says real estate agent, broker, and construction expert Ron Humes. "The problem is that most homeowners have no idea why they are there."

Here's why: In warm, wet seasons, crawl space vents allow airflow, which prevents moisture buildup. But if you leave them open during cold, dry weather, that chilly air will cool down your floorboards—making mornings uncomfortable.

DIY: "When the temperatures drop, slide those crawl space vents closed," Humes says. "Just remember to open them again in the spring."

If one of your vents is broken, replacements range from $20 to $50.

Call in the pros: If your crawl space stays damp through the fall and winter, you might want to consider waterproofing, dehumidifying, and sealing off your crawl space to prevent wet air. This can cost $1,500 to $15,000.

5. Kick-start your composting efforts

Compost bin in the garden

fotomem/iStock

Now's the perfect time, with all those leaves and dead plants, to start a compost pile. You don't even need a fancy compost spinner; sectioning off a corner of your yard is enough.

"Put yard waste to work by piling green leaves and clippings into a pile near your garden," Poole says. Next, layer with brown materials such as soil, dead leaves, and coffee grounds. Next up: kitchen scraps.

"Through the season, turn your mound using a pitchfork to expose oxygen to all ingredients and use it in the spring for fertilizer," Poole says.

Next year's tomatoes will thank you.

DIY: If your yard lacks space for a compost corner—or you have no interest in regular pitchforking—consider a tumbling composter. 

6. Protect your trees

Not all species of trees are winter-hardy—especially thin-barked ones like beech, aspens, or cherry trees. For these varietals, "sun-warmed sap quickly freezes at night and causes bark to split," Poole says.

He recommends wrapping your tree trunks with paper tree wrap, covering the entire bark from an inch above the soil to the lowest branches. Adhere the wrapping to the tree using duct tape to keep your trees in tiptop condition.

DIY: You can find 150 feet of paper tree wrap on Amazon for $18, although you may need a few rolls depending on how many trees need winter protection.

Call in the pros: Are your trees already looking the worse for wear? A tree service can help you sort out what's wrong. Pruning costs anywhere from $75 to $1,000.

Contact The McLeod Group Network at 971.208.5093 or [email protected] for ALL your Real Estate needs! 

By: Realtor.com, Jamie Wiebe
Holly Amaya contributed to this article

5 Indications That You Could, in Fact, Afford to Buy a House Now

by Amy McLeod Group


So you're ready to ditch your landlord and the noisy neighbors who live above you. But instead of seeking out another place to rent, have you considered (like, seriously considered) buying?

For many people, purchasing a home is one of those bucket-list items—something you'll accomplish down the road—so the idea of starting the process here and now may seem out of the question. But there's a chance you're actually in a better position than you think.

Of course, every local real estate market is different, and your dollar will stretch further in certain cities. Half a million dollars in Waco, TX, will get you a heck of a lot more than $500,000 in San Francisco. Therefore, it's important to be realistic when choosing between renting or buying. In cities like San Francisco or Los Angeles, renting may make more financial sense than buying. Take a look, though, at the average home price in your neighborhood—maybe you can afford to buy after all!

Then, check out the following explanations, which will help you ponder your financial snapshot. You never know: You may be calling yourself a homeowner much earlier than you ever thought possible.

1. Your salary qualifies you for a mortgage

When determining if you can buy a house, your salary is one of the first figures you should take into account. But don't trick yourself into thinking that you can't afford a house simply because you don't make a six-figure salary! Use this quick equation from Lauren Anastasio, a certified financial planner with SoFi in San Francisco, to determine a realistic mortgage amount:

Multiply your annual income by 2.5, and then add your down payment amount to that figure. Your total amount is the max mortgage you should shoot for.

For example, if you make $80,000 a year, you're looking at a safe bet of a $200,000 mortgage, plus whatever you think you can save up for that down payment.

Anastasio says you should also take into account the regular housing expenses that come after the deal is done, including taxes, insurance, maintenance and repair, and homeowners association fees.

2. You can afford to put down at least 3%

Most first-time home buyers are intimidated by the idea of having to put down a large chunk of change. However, the traditional 20% down isn't your only option.

"The ideal down payment amount is 20% of the price of the home, because that's the minimum amount required to avoid paying private mortgage insurance (PMI). But that's not realistic for most home buyers, and shouldn't stop them from pursuing homeownership," says Candice Williams, a real estate agent with Re/Max Space Center in League City, TX.

Other paths to mortgages include conventional loans, which require a minimum of 3% down, and Federal Housing Administration (FHA) loans, which can go as low as 3.5% down. And if you're a veteran, you can qualify for a VA loan with no down payment. So take a look at your savings account and browse the home listings in your area. You might just find that your years of saving have actually put you in a position to qualify for a mortgage.

3. You have a little bit of debt

Another common misconception among first-time home buyers is that future homeowners must be debt-free in order to get approved for a mortgage loan. But don't worry—you can still buy a home even if you're still paying off your student loans.

"Lenders like to see a little debt. By paying down a car loan on time, you're showing the bank that you are a responsible borrower," says Andrew Helling, editor at REthority.com.

That being said, Williams points out that while it's fine to have current debts, first-time home buyers shouldn't be looking to add a mortgage if their current debts exceed 7% of their monthly income. That's because most lenders won't approve loans of more than 28% of a borrower's monthly income, and they're legally prohibited from handing out mortgages that are the equivalent of more than 35%.

"Either pay down those debts, or increase your income, in order to get loan approval," says Williams.

4. Your credit score is over 580

Another number lenders look at to determine your creditworthiness is your credit score. A perfect credit score is 850, and any score over 740 is considered to be great, but you don't need to fall in this range to be approved for a loan.

You can "absolutely" get a mortgage, Helling says, "as long as your credit is above 580—the cutoff for most loans—and you have enough money left over to make the mortgage payments and the debt payments."

If your credit score falls below 700, lenders will start to question whether you’re a risky investment as a potential borrower, and getting a mortgage will be more challenging. But, if your score is above 580, there's still hope in the form of an FHA loan or another type of conventional loan. The FHA requires a minimum 580 credit score (and other requirements) to qualify. Having a poor credit score means you'll probably be required to pay PMI, but the benefits of owning a home will far outweigh the negatives.

5. A starter home (if not a forever home) is within reach

Some first-time home buyers make the false assumption that the first home they invest in needs to be their forever home. But don't let that idea deter you from purchasing a modest starter home, even if you soon outgrow your new digs.

After a few years of homeownership, you will hopefully start to build equity, either through an increase in your property's value or by reducing your debt. Then, when your family expands and you need to buy a bigger house, you will have a quantifiable asset that you can use on your next property purchase.

What you shouldn't do is buy a house that you can't yet fill, hoping that your lifestyle later catches up. That can be a recipe for disaster.

"Never buy outside your means," Helling says. "Don't buy a home you can't afford, under the assumption that a promotion you expect in a few years will eventually pay the mortgage."

Contact The McLeod Group Network at 971.208.5093 or [email protected] to start the search for your new home! 

By: Realtor.com, Kristine Gill 

Exploring Salem Oregon: 2019 Tour of Remodeled Homes

by Amy McLeod Group


Saturday, September 21, 2019 – 10:00 AM to 5:00 PM
Sunday, September 22, 2019 – 10:00 AM to 5:00 PM

The Home Builders Association’s Tour of Remodeled Homes takes place this weekend and features six beautiful remodels from a number of Salem’s top remodeling contractors.  The Tour of Remodeled Homes is your place to go for remodeling ideas and the latest in design trends. If you’re considering a remodel of your own, we encourage you to come out to the Tour and experience the finest workmanship and design solutions to provide inspiration for your own home, and visit with the professional remodelers who can make it all happen!

Event Website

Purchase Tickets

Homes and Addresses

Courtesy of Amy McLeod, The McLeod Group Network

Photo Credit: Eventbrite.com

5 Crucial Questions to Ask Before You Buy a Fixer-Upper

by Amy McLeod Group


Thinking about buying a fixer-upper? Join the club. Blame it on the popularity of renovation reality TV or just the fact that people are searching for deals, but many home buyers are willing to purchase a property in need of major repairs. One survey by Clever Real Estate found that 67% of millennial home shoppers in the United States said they would put in an offer on a home with serious flaws that need to be fixed.

Purchasing a home that needs serious remodeling, though, isn’t a decision you should make lightly. Here are five questions to ask yourself before buying a fixer-upper.

1. What’s my motivation?

Reviving a rundown home is always a challenge, no matter how many houses you’ve flipped or episodes of “Fixer Upper” you’ve seen—and that's why it’s important to assess your motivations before you dive in, says Joshua Jarvis, founder of Jarvis Team Realty in Duluth, GA.

Simply enamored by what you’ve seen on HGTV? Newsflash: “Reality TV is not reality,” says Jarvis. “I hate to shatter people’s dreams, but there’s a lot more work involved than people think.”

 

Flipping an outdated house in order to make a profit, though, is a sound reason to buy a fixer-upper, Jarvis says. After all, home flips in 2018 returned an average gross profit of $65,000, according to ATTOM Data Solutions.

Purchasing a fixer-upper can also be a good idea if you’re looking to make a home your own without building one from scratch, or if you’re simply looking for a great deal. Indeed, people shopping for a fixer-upper can expect to spend 20% to 25% less than what they'd have to shell out for comparable homes that are move-in ready, says Dan Bawden of the National Association of Homebuilders. (Homes with serious issues—such as cracks in the foundation or a major mold infestation—can command even deeper discounts, Bawden says.)

Fixer-uppers are also good options for DIY buffs—your sweat equity will buy you bragging rights. What’s sweeter than being complimented on your kitchen and being able to say, "Thanks, I did it myself"?

2. Where am I going to live during the renovations?

Unless you’re planning to live in your new home while the renovations are underway, you’re going to need a place to stay until the house is ready. This can be a financial challenge, Bawden notes, since you have to factor in the time you'll be paying the mortgage and bills without being able to live in the home. Read: Six months of paying rent on top of your house payment can quickly eat into what you saved on your "great deal."

3. What’s my remodeling budget?

The best fixer-uppers are ones that mostly need cosmetic updates—things like kitchen and bathroom renovations, new floors, siding repair, or wallpaper removal—since major flaws can quickly eat up your remodeling budget. But, regardless of how much (or how little) work you’re going to put in, you need to have enough money to pay for the renovations.

Need help setting a budget? Have several contractors give you in-person estimates. That way you’ll have a rough but accurate idea of how much it’s all going to cost you. The caveat: You may have to pay the professional a few hundred dollars to walk through a potential home and estimate the renovation costs, but it's worth it.

4. How am I going to pay for everything?

Now that you know how much the renovations are going to cost, you have to figure out how you’re going to pay for everything. Unless you’re sitting on a mountain of cold, hard cash, you’ll need to obtain a home loan that allows you to spend a portion of money on home improvements. The good news: A home that requires major renovations can qualify for a special type of financing called a home improvement loan. There are two main types of home improvement loans.

The first is a FHA 203(k). This is a loan from the Federal Housing Administration that lets you put as little as 3.5% down. There are a couple of restrictions, though. The original foundation must remain, says Suzanne Caldeira, vice president at mortgage lending company Shamrock Financial Corp. Also, the upgrades you make cannot be “luxury” items, like adding a pool or fire pit. Third, the work must be completed within six months.

To qualify for a 203(k) loan, homeowners have to provide a bid from an approved contractor to make the upgrades they want with their loan paperwork. An appraiser reviews the home and the submitted bid, and appraises the estimated value of the home post-renovation. Once the loan is approved, the money for the renovation is put into escrow. After the work is completed—the deadline is six months—an inspector visits to determine that it's been done correctly, and then the money is released to the contractor. In the same way as with traditional FHA loans, you can pay the money back over 15 or 30 years.

The second type of home improvement loan is a Fannie Mae HomeStyle loan. It’s similar to a 203(k) loan, but it requires a down payment of at least 5%. Another difference: There's no limit to the kinds of renovations you can do, as long as everything is permanently affixed to the home and adds value.

Like a 203(k) loan borrower, you will need to hire an approved contractor and submit a bid for the project with your loan paperwork. You then have an appraiser determine what your home will be worth after the renovations. Once you've got that number, you can borrow up to 50% of that appraised value to work on the renovation. As with a 203(k) loan, the money for the renovation is held in escrow until the work is completed and inspected and is then released to the contractor. However, with the HomeStyle loan, you get 12 months to complete the renovation, instead of six. You then pay it back over a period of 15 to 30 years at either a fixed or adjustable rate.

5. Am I prepared to manage this project?

From finding the right house and negotiating a deal, to hiring contractors and securing permits, there will without a doubt be plenty of moving parts for you to oversee during this whole process. That will mean you need to ask yourself whether you have the time and the patience to manage everything.

While hiring a general contractor to oversee the renovations can help lighten the load, reviving a fixer-upper is still a huge commitment, so make sure you know what's required before you dive in.

Contact The McLeod Group Network at 971.208.5093 or [email protected] for all your home-buying needs! 

By: Realtor.com, Daniel Bortz

Small Kitchens Can Be Chic! 5 Ideas to Try Based on Your Design Style

by Amy McLeod Group


Small kitchens
 may not cater to the taste of every homeowner, but they certainly have their benefits. In a compact kitchen, there are fewer surfaces to clean, and everything you need—from olive oil to an extra hand towel—is within arm's reach.

And while living with a small kitchen means that you have less space to play with the decor, you can still make your mark. The trick, according to Karen Gray-Plaisted of Design Solutions KGP, is to keep it simple.

"Don't overdo the finishes and surfaces," she says, "otherwise it'll look too cluttered. For example, if you have a stainless fridge, install the hardware around it in a similar-looking finish. And keep cabinetry and counters in the same color family, so your kitchen feels more spacious."

To get you started, we've come up with five fun styles for a small kitchen, with recommendations on how to achieve these looks. The result? Easy upgrades that'll make your small kitchen a space where you love to spend time.

Modern farmhouse


Photo by G.W. Smith Lumber Co. 

Yes, you can channel Joanna Gaines and her wildly popular decor of choice, modern farmhouse, in a small kitchen. Jamie Novak, an organizing whiz and author of "Keep This Toss That," recommends a white color palette and opening shelving. "This type of shelf actually makes a small kitchen appear larger," she says. Incorporate wood tones into a modern farmhouse kitchen by installing rough planks as shelves, or try an industrial-style rolling cart made from wood, says Julie Coraccio of Reawaken Your Brilliance.

Stick to a simple palette of grays, taupes, and charcoal paint on the walls, and complete the look with a subway tile backsplash, a farmhouse sink, Shaker-style cabinets, and vintage accoutrements such as a clock or a worn wooden sign.

Feminine


Photo by The ABL Group 

Contrary to popular belief, you don't have to include a single pink element to achieve a feminine-style kitchen. For this look, choose elegant metallic fixtures for the sink, drawer and cabinet pulls, and lighting.

Novak says your window treatments and dish towels are great ways to incorporate delicate touches like ruffles or floral prints. "But steer clear of small prints, as they'll make the space feel cramped and cluttered," she says.

Coraccio recommends artwork to bring a feminine style to the fore. Or consider a dramatic chandelier over the kitchen island and fresh flowers or potted herbs to brighten up the room.

Rustic


Photo by Laura Medicus Interiors

A rustic kitchen is characterized by lots of wood (on floors, cabinets, the table, and countertops), but beware: It could look heavy in a small space. To lighten up this look, Novak suggests choosing paler versions of these materials. For example, if you have wooden countertops, consider painting your cabinets white.

Chunky drawer pulls and wrought-iron brackets to prop up shelves are two smart additions.

And don't forget texture in a rustic space. Leather door pulls, woven wicker baskets for fruit and veggies, and touches of metal and stone (a copper faucet or earthenware dishes) will enhance this design. "A butcher block or live-edge counter, black or rubbed-bronze fixtures, and farmhouse sinks are also common components in this kitchen style," says Gray-Plaisted.

Modern


Photo by Vertebrae Architecture 

Minimalism is the name of the game when it comes to designing a modern small kitchen. Shoot for a monochromatic color scheme, contrasted with pops of an edgy shade like orange, turquoise, or lime green. "Sleek hardware and flat panel cabinet doors are also appropriate," says Novak.

Forgo anything that could be misconstrued as clutter. Excess decor and too many countertop items are a definite no-no when going modern. Instead, invest in shiny finishes, frosted glass on cabinet fronts, and industrial light fixtures and bulbs to channel a modern vibe. Gray-Plaisted says matte black finishes, as well as cement flooring and countertops, are trending in modern kitchens.

Shabby chic


Photo by Big Chill 

Shabby chic style is all about showcasing timeworn treasures that look as if they were sourced from an antique shop. The color palette is always light and bright, so when painting your walls or cabinets, choose cream, off-whites, or pastels like robin's-egg blue, soft pink, or buttery yellow.

Don't be afraid to use mismatched dishes, mugs, and serving ware. "Vintage hand-me-downs and rescued items that you refinish yourself help with this eclectic, mismatched look," says Novak. Hit up a flea market for hand towels covered in Battenberg lace, delicate embroidery, or a floral pattern. A vintage metal sign is also a quintessential shabby chic accessory. Extra points for sourcing a retro stove or refrigerator! Just make sure it's fully functional.

Get tips on remodeling and design inspiration by contacting The McLeod Group Network at 971.208.5093 or [email protected]

By: Realtor.com, Jennifer Kelly Geddes 

Exploring Salem Oregon: Hispanic Heritage Day at the Capitol

by Amy McLeod Group


Kick off the month-long national recognition for Hispanic Heritage Month on Saturday, September 14. Civic groups, organizations, art, music, poetry, language, cultural heritage and more will be recognized during this four-hour event at the Oregon State Capitol. 

Oregon State Capitol
900 Court Street NE
Salem, OR 97301

503-986-1388

oregoncapitol.com

Courtesy of Amy McLeod, The McLeod Group Network

Photo Credit: travelsalem.com

Help, We Have a Leaky Roof! What to Do If This Happens to You

by Amy McLeod Group


I’ve known we needed to replace the roof above our front porch for some time now. It’s flat (water doesn’t drain well from it); we live in Florida (there are downpours nearly every day); and I can see the spreading stains on the stucco from my office window. It’s been on my expensive-things-we-should-do list for a while.

As we started to gather estimates on the repair job, however, we began wondering if we should replace the roof on our entire house instead. It’s already 20 years old, and even though it’s largely in good shape now, we know it has to be done sooner or later. Since roofers would be up there anyway, maybe it was the right move, even though the idea of spending money on something so boring—yes essential, but boring—wasn’t on my things-I-want-to-spend-money-on list.

How much does it cost to replace a roof, anyway?

If you had asked me what a new roof might cost a month ago, I would have given you an estimate so laughably short of the mark that Bob Barker would have forever banned me from the “Price Is Right." The initial quotes we got for a new roof were jaw-dropping—upward of $50,000 jaw-dropping.

Of course, there are many variables when it comes to cost, including the type of roof, where you live, and the size of your house.

We happen to have a concrete tile roof, and our home is over 3,000 square feet. So, we’re on the high end when it comes to roof replacements, but it's a big expense any way you look at it.

On average, the cost of a new roof ranges from about $22,636 for asphalt shingles to $38,600 for a metal roof nationwide, according to Remodeling magazine.

With these figures burning my eyes, my next question was: Do we really need to replace the whole roof? Or could we do just the necessary repairs?

How long does a roof last?

Complicating this decision, we’d like to sell this house in the near future so we can move closer to a new job. So, can we just wait it out and hope for the best?

Experts say most roofs last between 15 and 40 years, while some, such as those made of tile shingle, are meant to last hundreds of years. However, how long a roof is meant to last and how long it actually lasts are often two very different things.

For example, Connor Sullivan, a storm restoration specialist with American Roofing, says a three-tab shingle roof is supposed to last 20 to 25 years, but most last only 12 to 15 years due to weather, improper installation, and lack of ventilation. An architectural shingle roof is designed to last up to 40 years, but he says most usually last only 25 to 30 years.

That means we could have 10-plus more years with this roof—or not.

To reroof or repair?

It all seems like an expensive gamble, but industry experts say there are some important factors to consider.

“If you're only going to be living there for a couple more years and then selling, it may make sense to make minor repairs and move on, assuming the roof is in generally good shape,” says Corey Crossman, a real estate agent and broker in Raleigh, NC.

“If you plan on staying for the long haul and your roof is giving you trouble, it's better to replace it right away and enjoy years of a good roof rather than put it off and battle roof leaks and other problems.”

He says what you don’t want to do is continue repairing a roof that has outlived its life expectancy.

“Many homeowners would rather spend a few hundred dollars here and there to make repairs than take the big hit and spend several thousand for a new roof," he says. "But in most cases, they'd be better off investing in a roof replacement, enjoying the best years of the roof, and then reaping the rewards if and when they sell the home.”

If your roof has been damaged due to weather, don’t forget to contact your insurance company, as some repairs or replacements may be covered under your homeowners policy.

“Going through insurance should always be your first option to save you from spending an arm and a leg on something your insurance should be helping you with,” Sullivan says.

We did indeed contact our insurance company, and it deemed a small portion of our porch roof damage to be weather-related. We got a small check to help cover the cost of repairs.

What's the ROI on a new roof?

The question of a new roof’s return on investment,or ROI, is a big variable to consider as well. Of course, there are no guarantees, and experts have varying opinions on the ROI of a new roof. Most say it’s not 100%, but it can make a significant difference when it comes to selling a home.

“If your house needs a new roof and the roof costs $10,000, it probably doesn't mean you'll be able to sell the home for $10,000 more than your competition,” Crossman says.

“However, where you can really cash in is the speed at which your house will sell. A home with an old or failing roof just begs for lowball offers and will likely be sitting on the market for quite some time before a buyer is willing to step in and pay market price for it," Crossman continues. "If you don't want to sell your home at a discount and you want to sell fast, opt for the new roof.”

Demetrius Gray, former roofing company owner and CEO of WeatherCheck, a technology startup that monitors properties for hail damage, offered this insight. “The ROI can vary a lot because a bad roof can be a deal breaker when it’s time to sell because they cause appraisals to fail,” he says. “A new roof should be about a 5% increase in value, and more if the workmanship and material warranties are transferable.”

Repair or replace: What we did with our roof

In the end, we decided to repair our roof where necessary and focus our funds on other home improvement projects. We’re painting the exterior, replacing the outdoor lights and fixtures, getting a new front door, and doing some other cosmetic changes to make the house look more modern. We’re hoping this adds some value and curb appeal and will allow us to enjoy the house more for the remaining time we spend in it.

We don’t assume the ROI on these improvements will be as high as that for a new roof, and we realize we may end up having to replace our entire roof down the line. In the meantime, we’re excited about our home makeover, crossing our fingers we made the right decision and hoping the hurricane seasons are mild.

Contact The McLeod Group Network at 971.208.5093 or [email protected] for ALL your Real Estate needs!

By: Realtor.com, Julie Ryan Evans

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**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.