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Exploring Salem Oregon: Rogue Farms Labor Day Garage Sale

by Amy McLeod Group


Stock up for Labor Day at our Garage Sale! Discounts on all things Rogue including cases, kegs and Rogue swag! Join us on Saturday or Sunday for a Hop Harvest Tour while you're here! Food, Ales, and lawn games at the tasting room as well! 

Chatoe Rogue
3590 Wigrich Rd Ne
Independence, OR 97351

503-838-9813

www.rogue.com

Courtesy of Amy McLeod, The McLeod Group Network

Photo Credit: travelsalem.com

Exploring Salem Oregon: The Oregon State Fair

by Amy McLeod Group


You wouldn’t believe how many new and different attractions we’re working on to make the Oregon State Fair more fun than ever. Some of us get goose bumps just thinking about it! Because the fact is, you just can’t beat this fine fair when it comes to end-of-the summer fun.

Come see for yourself! Tickets are $6-$8. #findyourfun

Oregon State Fairgrounds
2330 17th Street NE
Salem, OR 97301

971-701-6567

oregonstatefair.org

Courtesy of Amy McLeod, The McLeod Group Network

Photo Credit: travelsalem.com


Once your offer on your dream home is accepted, it doesn't mean you can just grab the keys and move in. If you need a mortgage, securing this home loan takes time. The good news is that it's faster now than ever.

According to a recent three-year study by LendingTree, the length of time it takes to get a mortgage—aka closing—is an average of 40 days in 2019. That's down from 51 days in 2018, and 74 days in 2017.

And here's some good news for homeowners who've already moved in: The time it takes to refinance a mortgage is also dwindling. Refinancing takes an average of 38 days in 2019, down from 43 in 2018, and 55 days in 2017.

Home buyers should be thrilled to hear that the mortgage process is speeding up—who doesn't want to move into their new home as quickly as possible? Earlier closing times can also save home buyers money, especially if they are paying high rent or having to find temporary housing while waiting to move into the new home.

Why it takes less time to get a mortgage today

The digitization of the mortgage process is the main reason for the shorter closing times, according to the LendingTree report. The mortgage industry has become increasingly digital since the 2008 financial crisis, when companies operating in the paper-centric system of the past lost or misrecorded some details from their clients, causing problems and legal issues during the foreclosures that often followed.

Since then, some lenders have created new mobile-friendly products to speed up the mortgage-approval process. For example, Quicken Loans launched the app Rocket Mortgage in 2015 to help borrowers close earlier than the industry standard, reportedly sometimes as quickly as eight days.

Another factor contributing to shorter closing times is that mortgage volumes have been decreasing, says Tendayi Kapfidze, chief economist at LendingTree. However, he says that given the recent drop in interest rates, “that’s kind of reversed itself a little bit, but we’re still seeing shorter times than in 2018.”

The LendingTree study also found that loans for smaller amounts took longer to close. Loans of under $150,000 averaged 47 days, versus 39 days for those above the conforming loan limit, which is $484,350 in 2019.

“You'd think something being more valuable or bigger risk for the lender, they might take a little bit more time with it, but it's the exact opposite,” Kapfidze says. One possible reason is that lenders may require a more extensive appraisal for lower-priced homes, which might have some type of damage or other problem.

How to get a mortgage fast

So what can consumers do to reduce as much as possible the length of time it takes to get a mortgage? To speed up the closing process, Kapfidze urges home buyers to choose a lender with a more digital, less paper-driven process. Before signing on with any lender, ask if the company can digitally link to a borrower’s bank, the IRS, or other institution to get information to process the mortgage, since this is the key to a speedy approval.

Online lenders make it easier for borrowers to compare mortgages, and they often offer better rates and faster approvals, but they come with less customer service, so they may not work well for complex home loans. Mortgage industry experts suggest that borrowers look over the application process, check out online reviews of the company, and make sure it is registered with the Better Business Bureau before they sign up.

Here's more on how to get a mortgage fast:

Work on your credit score

Before starting the home-buying process, make sure your credit score is in check. According to the LendingTree study, consumers with higher credit scores saw shorter closing times.

People with a credit score of above 760 have an average 38-day closing time in 2019, while closings take an average of 45 days for those with scores of below 720.

Have your financial documentation in order

“A lot of the delay in closing times is just the back-and-forth between the lender and the borrower,” Kapfidze says. He suggests having all documentation well-organized and easy to access, so that it doesn’t take long to send it to the lender.

Also, make sure that all the information that you provide is accurate, he says. If a mortgage lender goes to verify something and finds a discrepancy in what a borrower provided, that can slow things down.

The exact documentation that borrowers need to provide depends on the type of loan they’re seeking, but generally, the required documents relate to a borrower’s income, assets, and employment, such as a W-2 form, pay stubs for the previous 30 days, and bank statements. Borrowers also need valid identification, a loan application, a contract for the home purchase, and homeowner insurance contact information.

Get pre-approved for a mortgage

Many loan experts urge home buyers to get pre-approved for a mortgage before they start shopping for a home, especially if their financial situation is complex. A pre-approval helps buyers better understand what type of home they can afford and can shorten closing times.

“You're going to have to go through this process at some point anyway, so you might as well get it out of the way upfront as quickly as you can,” says Hayden Hodges, a Dallas-based mortgage loan officer at U.S. Bank. “I would want to know what my ceiling is, what my conditions are, as quickly as I can, as opposed to perhaps getting into unnecessary fire drills towards the end of a transaction.”

Lenders can work quickly to get borrowers pre-approved. Borrowers can speed up the process even more by providing all the documentation needed for pre-approval, Hodges says.

Make sure you have cash on hand

Having cash available to supply earnest money and to pay closing costs can help you close faster, Kapfidze says. Some closing costs need to be paid in cash, so make sure you can easily access the funds.

“You don't want to get to closing, and it's like, ‘Hey, you need to have a $12,000 check,’ and then realizing your money's not liquid," he says.

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

By: Realtor.com, Erica Sweeney 

3007 Northgate Ave: Three Bedroom Home Waiting on You!

by Amy McLeod Group

Salem-Keizer OR Real Estate For Sale
3007 Northgate Avenue NE, Salem, OR  97301


 

Look no further, this 3 bedroom, 2 bath house is just waiting for you to call it home! A double sided wood burning fireplace is the focal point in the living, dining and family rooms. Enjoy comfortable living and easy function with plenty of room for everyone in these spacious rooms! The nicely laid out kitchen features low maintenance flooring, an abundance of light oak cabinets and plenty of counterspace for meal prep.  The bedrooms are generously sized with plentiful closet space. Situated on a nicely maintained corner lot with a rear deck perfect for grillin’ and chillin’! An attached 2 car garage, plus a detached storage shed for all your needs. The convenient location puts you just minutes from amenities. Offering so much potential with the chance to add your own personal touches, 3007 Northgate Avenue is worth a look!

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.

7563 Burgundy Court NE: Stunning Home is Your Private Sanctuary!

by Amy McLeod Group

Salem-Keizer OR Real Estate For Sale
7563 Burgundy Court NE, Keizer, OR  97303

Welcome to your private sanctuary! This stunning single level home has been lovingly maintained and offers a ton of desirable features inside and out… an effortlessly flowing floor plan highlighted by 3 generously sized bedrooms, 2 full baths, soaring high ceilings, recessed lighting, neutral paint, a hard to find triple car garage and a backyard oasis for all your outdoor entertaining needs! Vaulted ceiling and a cozy fireplace in the great room creates comfortable day to day living with the conveniences of a connecting kitchen. An abundance of crisp white cabinetry, a breakfast bar, double sink, pantry and sun filled eat in area with slider to the patio makes for a delightful cooking experience. Elegant columns welcome you into the formal dining room where you are sure to enjoy hosting guests. A beautifully appointed den offers additional space for whatever you may need. The soothing master suite is a delightful retreat with its vaulted ceiling, plush carpeting, patio access, walk in closet, dual vanities and soaking tub. A great laundry room with built ins and sink to help keep you organized. A fully covered patio overlooks the manicured yard with unique water feature creating the ideal outdoor living and entertaining space. One lucky buyer gets to call The Vineyards home! Act fast and it could be you!  

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.

1320 Shady Lane NE: Updated Home on Nearly Half-Acre!

by Amy McLeod Group

Salem-Keizer OR Real Estate For Sale
1320 Shady Lane NE, Keizer, OR  97303

Peaceful, private and close to everything! Situated on nearly a half acre, this newly rehabbed single level living home in Keizer is move-in ready! A new roof, new siding, new kitchen cabinets, new countertops and new Pergo flooring, plus recent paint is awaiting one lucky buyer!  Large windows fill the living room with natural light and the crackling fireplace creates a cozy atmosphere. This stylish updated kitchen offers cabinet and counter space galore, a gas range and recessed lighting. The connecting dining area is perfect for casual meals and the easy outside access expands your entertaining options. A dreamy master suite has a walk-in closet and tiled en-suite bath, sure to please. The additional bedrooms are sized generously and share a hall bath. Spacious laundry room with cabinets to help keep things tidy. The generously sized backyard is fenced for privacy and the covered patio allows you to sit back and relax. Pack your bags and come on over, we are sure you will want to stay!

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: TinyFest Northwest

by Amy McLeod Group


Saturday, August 17, 2019 at 10:00 AM to Sunday, August 18, 2019 at 5:00 PM

Come celebrate tiny living at TinyFest NorthWest! Explore a variety of tiny houses from pro-builders and DIYers. Tour tiny houses on wheels, backyard cottages, shipping container homes, vans, bus conversions and more!

Enjoy the Marketplace, listen to speakers, hear live music and eat good food. $10-$15.

Polk County Fairgrounds
S. 520 Pacific Hwy. W.
Rickreall, OR 97371

402-680-7819

www.tinyfestnorthwest.com/

Purchase tickets here: TICKETS

Courtesy of Amy McLeod, The McLeod Group Network

Photo Credit: travelsalem.com

Should You Prepay Your Mortgage? The Pros and Cons

by Amy McLeod Group


Should you prepay your mortgage? For some homeowners it’s a financially savvy move—but for others, beefing up their loan payments just doesn’t make sense. To help you figure out whether prepayment is right for you, here are the pros and cons cited by financial experts.

Pro: You'll cut down on the interest you owe

Interest is the extra fee you pay your lender for loaning you the cash you needed to buy a home. After all, lenders don’t just hand out dough for free—they’re in the business to make money.

By increasing your monthly mortgage payments—also called “prepaying” your mortgage—you’ll effectively save money in interest charges. Those savings can add up big-time.

For example, let’s say you take out a $200,000 mortgage with a 4% fixed interest rate and a 30-year term. If you continue to make your minimum monthly payments, you’d be forking over $143,739 in interest over 30 years until the debt is paid off. But, by paying an extra $100 per month, you’d pay only $116,702 in interest over a 25-year time span—a savings of $27,037.

Pro: You’ll get your mortgage paid off sooner

By accelerating your mortgage payments, you’ll also be shortening how long it takes to pay off the loan, which would increase your cash flow in the future. That’s a huge incentive for some borrowers.

“For families with young children, where the parents are concerned about paying for their children’s college tuition, sometimes we will recommend they increase mortgage payments so that when their kids head off to college their mortgage obligation is gone,” says Joe Pitzl, a certified financial planner for Pitzl Financial, in Arden Hills, MN.

Paying more money each month toward your mortgage’s principal can also give you peace of mind, says Marguerita Cheng, a certified financial planner at Blue Ocean Global Wealth in Gaithersburg, MD.

“Emotionally, it’s gratifying knowing that you’re paying your mortgage sooner than you originally planned to do,” Cheng says.

Pro: You’ll build equity faster

No matter how much money you put down on your mortgage, your home equity is the current market value of your home minus the amount you owe on your loan. So say your home is worth $250,000 and your mortgage balance is $200,000. In this case, you’d have $50,000, or 20%, in home equity.

Making larger mortgage payments toward your loan's principal would enable you to build equity faster. Having more home equity can be a tremendous boon if you’re looking to get a home equity loan or home equity line of credit, such as to pay for home improvements, says Tendayi Kapfidze, chief economist at Lending Tree.

Pro: It helps your credit score

Showing that you have less debt—and that you manage your debts responsibly, by paying your mortgage off early—can raise your credit score. That can help if you’re planning to apply for a car loan or a second mortgage on a vacation home, since your credit score would affect the interest rate you qualify for.

Con: Prepaying reduces mortgage interest, which is tax-deductible

Because prepaying your mortgage reduces your mortgage interest, it may not make sense from a tax-savings perspective. Mortgages are structured so that you start off paying more interest than principal.

For example, in the first year of a $300,000, 30-year loan at a fixed 4% interest rate, you'd be deducting $10,920. (To find out how much you paid in mortgage interest last year, punch your numbers into our online mortgage calculator.)

Nonetheless, taking a mortgage interest deduction under the new tax law requires itemizing deductions—and itemizing may no longer make sense for many homeowners, since the standard deduction jumped under the new tax plan to $12,200 for individuals, $18,350 for heads of household, and $24,400 for married couples filing jointly.

Another thing to consider: In the past, you could deduct the interest from up to $1 million in mortgage debt (or $500,000 if you filed singly). However, for loans taken out from December 15, 2017, onward, only the interest on the first $750,000 of mortgage debt is deductible, says William L. Hughes, a certified public accountant in Stuart, FL.

Con: You could miss out on more lucrative investment opportunities

Every dollar you put toward your mortgage principal is a dollar you can’t invest in higher-yield ventures, such as stocks, high-yield bonds, or real estate investment trusts, Pitzl says.

That being said, “you’d be assuming more risk by investing your money in, say, the stock market instead of putting the money toward your mortgage,” Pitzl points out.

“You have to consider your risk tolerance before you decide where to put your extra cash,” says Cheng.

Con: You may miss paying off higher-interest debts

For many homeowners, paying off higher-interest debt—such as from a credit card or private student loan—is more important than prepaying their mortgage, Cheng says.

Think about it: If you’re carrying a $400 debt on a credit card from month to month with a 20% interest rate, the amount of money you’re paying in credit card interest is $80 per month—that would be leaps and bounds higher than what you’d be paying in mortgage interest on a home loan with a 4% interest rate.

Con: Prepaying a mortgage could hamper achieving other financial goals

Building your retirement savings is crucial, of course. However, some people make the mistake of prepaying their mortgage instead of maxing out their retirement contributions, Cheng laments.

“At the bare minimum, I recommend my clients do a full 401(k) match with their employer,” she says.

Moreover, Pitzl encourages people to build a sufficient emergency fund—typically, a fund large enough to cover three to six months of their essential expenses—before they focus on prepaying their mortgage.

“If you get into a bind, you can’t sell off windows and doors to make ends meet,” Pitzl says.

Con: There may penalties for prepaying your mortgage

Some lenders charge a fee if a client’s mortgage is paid in full before the loan term ends. That’s why it’s important to check with your mortgage lender—or look for the term “prepayment disclosure” in your mortgage agreement—to see if there’s a penalty and, if so, how much it is.

The bottom line: If you don't have enough money to pad your savings before you begin paying off your mortgage early, prepaying your home loan may put you in a financial hole if an emergency crops up.

Still not sure what direction to go in? Consider sitting down with a financial planner to discuss your options based on your personal finances.

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

By: Realtor.com, Daniel Bortz 


The empty-nest drill used to go something like this: As your kids move up the rungs of the educational system, you and your partner wonder whether to move to a condo in Boca, a bungalow in the Carolinas, or another relaxed-living locale. (Let’s overlook the fact that most of us can’t afford to retire.)

But times are changing. More and more 50-plus Americans are going the urban route. Stats from the National Association of Realtors® indicate that the percentage of 50-something home buyers purchasing property in cities is edging upward. And another study found that boomers are seeing a massive uptick in renting versus owning—which makes sense if they're moving to a big city.

About those renters of over age 50: I’m one of them! When we were in our 30s, my husband and I fled the city and bought a house in the suburbs. The main reason was that our two sons had hit school age in an overcrowded public school system, and were quickly outgrowing the small bedroom they shared. So we headed to a tree-shaded town in a well-regarded school district, where our kids could enjoy separate bedrooms and a yard where they could get their ya-yas out (Stones fans, am I using that correctly?).

And so it went—and went well—until the kids grew up and skedaddled, leaving me and my husband alone in a lovely house with shriveled social connections (the days of blabbing with neighbors about that overly tough AP History teacher were over) and feeling way isolated. We both worked in the city, and without the school system anchoring us, why were we commuting, we wondered? And why were we paying that hefty school tax bill now that our kids had flown the coop?

So we decided to sell our family home (sorry, boys!) and move. For us, it was a great decision. Here’s why:

1. Boosting our bank account

At least for the moment, my husband and I are happy not to have money tied up in real estate. As you may know, the current tax laws don’t incentivize having a mortgage the way they used to. We don’t feel the imperative to own a home in order to get that deduction come April 15, so why not feel a little unencumbered and mobile for a while?

2. Getting off the train schedule grid

Now that we are not running home after work to make dinner and supervise algebra homework (as if I could be of any use on that), my husband and I can reclaim our evenings, which feels a lot more fun in the city. We can take a walk by the river, try a new rooftop bar, or stop by a gallery opening without doing commuter math, which goes something like, “If the train is at 10:30 p.m., that means I need to leave here by 10. … Then, let’s see, I should get to the station at home at 11:30, drive for 15 minutes, and be in bed by midnight.” For a couple trying to reinvent our life after two decades of kid focus, freedom from the commuting schedule is a very good thing.

3. Jettisoning all that home maintenance

Praise the Lord, I no longer need a contact list full of electricians, roofers, masons, tree-stump grinders, landscapers, the highway department (responsible for pickup of garbage over a certain size), pest-control specialists (wasp nests, gah!), HVAC folk, etc. All of the homeownership stuff, so long! And the winter drama of nor’easters, tree limbs flying down, power going out, and frantic efforts to find somewhere—anywhere—to do a load of laundry are over.

4. Enforced downsizing

City life is apartment life, and it’s forcing me to go minimalist. There’s no basement, attic, or other place to hide the accumulated stuff of life, so I need to get rid of it. Or at least I’m trying to. I have a storage unit holding the contents of my former attic, having been unable to Marie Kondo my way to lean-and-mean status pre-move. But our lack of storage is making us think twice about accumulating any more crap.

5. Urban adventuring

In the city, quirk and culture abound. While I miss the sound of the wind whispering through the pine trees and the squirrels and birds darting around my yard, the city has a seductive pulse of discovery. There’s an aura of possibility that makes life feel more exciting, even if I just sit on my butt at home. Knowing that a midnight cheese-tasting event or a mermaid parade are just a quick subway ride away brightens my day in a big way. Yes, I’ve forsaken space, fresh air, peace and quiet. But I feel as if I’m sharing an amazing and varied human experience with fellow urban explorers.

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

By: Realtor.com, Janet Siroto

Exploring Salem Oregon: Molly Mo’s Summer Antique Faire

by Amy McLeod Group


25+ vintage, re-purposed and handmade vendors.  There will be food, beer & wine, and music along with outside and inside vendors. Admission is $3.

Union Hill Grange
15755 Grange Rd. SE
Sublimity, OR 97385

(503) 510-0820

Event Facebook Page

Courtesy of Amy McLeod, The McLeod Group Network

Photo Credit: travelsalem.com

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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.