Wednesday, April 26, 2017

3 Charts That Shout, ‘List Your Home Today!’

3 Charts That Shout, ‘List Your Home Today!’ | Keeping Current Matters
In school, we all learned the theory of supply and demand. When the demand for an item is greater than the supply of that item, the price will surely rise.

SUPPLY

The National Association of Realtors (NAR) recently reported that the inventory of homes for sale stands at a 3.8-month supply. This is considerably lower than the 6-month supply necessary for a normal market.
3 Charts That Shout, ‘List Your Home Today!’ | Keeping Current Matters

DEMAND

Every month NAR reports on the number of buyers out in the market looking for homes, which is also known as buyer traffic. As seen on the map below, buyer demand in March was strong or very strong in 45 out of 50 states nationwide, and Washington, DC.
3 Charts That Shout, ‘List Your Home Today!’ | Keeping Current Matters
Many buyers are being confronted with a very competitive market in which they must compete with other buyers for their dream homes (if they are even able to find a home they wish to purchase).
Listing your house for sale now will allow you to capitalize on the shortage of homes for sale in the market, which will translate into a better pricing situation.

HOME EQUITY

Many homeowners underestimate the amount of equity they currently have in their homes. According to a recent Fannie Mae study, 37% of homeowners believe that they have more than 20% equity in their homes. In reality, CoreLogic’s latest Equity Report tells us that 78.9% actually do!
3 Charts That Shout, ‘List Your Home Today!’ | Keeping Current Matters
Many homeowners who are undervaluing the equity they have in their homes may feel trapped, which may be contributing to the lack of inventory in the market.

Bottom Line

If you are debating selling your home this year, lets meet to evaluate the equity you have in your home, as well as the opportunities available in your market. The McLeod Group Network, 971.208.5093 or mcleodgroupoffice@gmail.com. 

Monday, April 24, 2017

How Fast Can You Save for a Down Payment?


How Fast Can You Save for a Down Payment? | Keeping Current Matters
Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long would it take you to save for a down payment in each state?
Using data from the United States Census Bureau and Zillow, we determined how long it would take, nationwide, for a first-time buyer to save enough money for a down payment on their dream home. There is a long-standing ‘rule’ that a household should not pay more than 28% of their income on their monthly housing expense.
By determining the percentage of income spent renting a 2-bedroom apartment in each state, and the amount needed for a 10% down payment, we were able to establish how long (in years) it would take for an average resident to save enough money to buy a home of their own.
According to the data, residents in Iowa can save for a down payment the quickest in just under 2 years (1.99). Below is a map created using the data for each state:
How Fast Can You Save for a Down Payment? | Keeping Current Matters

What if you only needed to save 3%?

What if you were able to take advantage of one of Freddie Mac’s or Fannie Mae’s 3% down programs? Suddenly, saving for a down payment no longer takes 5 or 10 years, but becomes attainable in a year or two in many states as shown in the map below.
How Fast Can You Save for a Down Payment? | Keeping Current Matters

Bottom Line

Whether you have just begun to save for a down payment, or have been saving for years, you may be closer to your dream home than you think! Let The McLeod Group Network help you evaluate your ability to buy today. 971.208.5093 or mcleodgroupoffice@gmail.com. 

Friday, April 21, 2017

Exploring Salem Oregon: Take a Walk in the Park


Saturday, April 29, 2017 - 9:00 am to 12:00 pm

Join us for a walk in the park! Pick up your passport and a balloon at the Rotary Pavilion, then walk to 6 stations & get your passport stamped at each one. At the end, grab a treat and enter your passport in a drawing to win an Attack Owl sign. A fun 2-mile walk. Hosted by Salem Parks Foundation. Suggested donation: $5 individual; $10 for families. Proceeds benefit Salem Parks.

200 Water St.
Salem, OR 97301


EVENT WEBSITE

Courtesy of Amy McLeod, The McLeod Group Network

Thursday, May 26, 2016

What's More Affordable?! Renting vs Buying


Hi Again Friends!

I recently had a conversation with a young lady who shared with me that she had made the move to Salem from Portland.  One of the primary reasons she shared was the ever climbing cost to rent in the Portland Metro area.

It might be hard to believe - but rents, even here in Salem, are seeing increases pretty much across the board.  And more often than not  folks, like my earlier conversation, believe that renting is more affordable than purchasing.  Or that they can't make ownership work within their monthly budget.  


Here's a quick graphic that might help dispel that worry.

Of course, you always want to run your household's income/expenses to verify these percentages - but at the very least this might be a catalyst to have a more in depth conversation with a mortgage professional to see what you really can afford!

As always, please let me know if you have any questions or if I can be of any help.

~Amy

Source: KCMBlog.com

Thursday, May 12, 2016

What's Best Long Term Investment?

Hi Friends!


I wanted to share this quick graphic with you that shares some interesting information about what folks consider to be their strongest, and best long term investment.


This insight definitely goes hand in hand with the level of activity we're seeing with our Buyer clients presently.  Buyers are taking advantage of still low rates - which offers great buying power.  And with tight inventories, Sellers who opt to enter the market now are taking advantage of pent up Buyer demand!  Competition is low for those in the market right now!

As always, if you have any questions - or if The McLeod Group can help in any way, please don't hesitate to call!  Because at The McLeod Group..."We'll Get You Home!"

~Amy

Source: KCMBlog.com