Friday, February 23, 2018

Exploring Salem Oregon: The Young Dubliners

Saturday, February 24, 2018
8:00 PM to 10:00 PM


A year after releasing their latest Celtic rock album, NINE, they are still out promoting the old-fashioned way. That means hitting the road and playing every show like it's the last. $20-$30 admission.

Elsinore Theatre
170 High St. SE
Salem, OR 97301


503-375-3574

Event Website

Courtesy of Amy McLeod, The McLeod Group Network

Photo Credit: Travel Salem

Thursday, February 22, 2018

Mortgage Rates on FIRE! Home Prices Up in Smoke?

Mortgage interest rates have already risen by over a quarter of a percentage point in 2018. Many are projecting that rates could increase to 5% by the end of the year.

What impact will rising rates have on house values?

Many quickly jump to the conclusion that an increase in mortgage rates will have a detrimental impact on real estate prices as fewer buyers will be able to qualify for a loan. This seems logical; if there is less demand for housing then prices will drop.
However, in a good economy, rising mortgage rates increase demand as many prospective purchasers immediately jump off the fence to guarantee they get the lower rate.
Let’s look at home prices the last four times mortgage rates increased dramatically.
mortgage-rate-increase-salem-oregon.jpeg
In each case, home prices APPRECIATED and did not depreciate. No one is projecting as dramatic an increase in rates as the examples above. Most are projecting an increase of approximately 1% by the end of the year.
The last time mortgage rates increased by 1% over a twelve-month period was January 2013 (3.41%) to January 2014 (4.43%). What happened to house prices during that span? They appreciated by 9.8%.
Just two weeks ago, Rick Palacios Jr., Director of Research at John Burns Real Estate Consulting explained:
“Mortgage rates have risen 1% or more ten times in the last 43 years, with little impact on home sales and prices when the economy was also strong…Historically, rising confidence, solid job growth, and higher wages have more than offset reduced demand for housing resulting from higher mortgage rates.”

Bottom Line

When mortgage rates increase, history has shown that prices appreciate (and do not depreciate) during that same time span.
Contact The McLeod Group Network today to discuss your options!  971.208.5093 or mcleodgroupoffice@gmail.com.
By: KCM Crew

Monday, February 19, 2018

1140 Harbour Lane NE: Beautiful Open Floor Plan in Desirable Avalon Meadows!

Salem-Keizer OR Real Estate For Sale
1140 Harbour Lane NE, Keizer, OR  97303


Beautiful and spacious, this desirable Avalon Meadows home is just what you have been searching for! An open floor plan highlighted by 3 bedrooms, 2.5 baths, easy care flooring, neutral colors, recessed lighting, central air, plus an insulated 2 car garage. You will enjoy preparing a meal in this stylish and functional kitchen with granite counters, stainless steel appliances, a tile backsplash and breakfast bar open to the sun filled dining area. The connecting great room offers a toasty gas fireplace setting the scene for entertaining guests and comfortable every day living.  Plush carpeting, a tray ceiling, walk in closet, dual granite vanity and tub/shower combo make this a master suite you are sure to enjoy after a long day. Two generously sized secondary bedrooms, a shared full bath and the laundry room complete the second level. Your new favorite spot is sure to be the lovely patio in your fenced yard for BBQ’s and outdoor enjoyment! Call today to start living the good life in Keizer 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.

Thursday, February 15, 2018

Low Inventory Pushes Home Prices Higher

According to CoreLogic’s latest Home Price Index, prices appreciated by 6.9% year-over-year from December 2016 to December 2017 on a national level. This marks the fifth month in a row with at least a 6.9% increase.

Dr. Frank NothaftChief Economist for CoreLogic, gave insight into the reason behind the large appreciation,

“The number of homes for sale has remained very low. Job growth lowered the unemployment rate to 4.1 percent by year’s end, the lowest level in 17 years. Rising income and consumer confidence has increased the number of prospective homebuyers. The net result of rising demand and limited for-sale inventory is a continued appreciation in home prices.”

This is great news for homeowners who have gained nearly $15,000 in equity (on average) in their homes over the last year! Those homeowners who had been on the fence as to whether or not to sell will be pleasantly surprised to find out that they now have an even larger profit to help cover a down payment on their dream homes.

As we near the traditionally busy spring buyers season, there is still hope for buyers as mortgage rates remain low compared to recent decades. The report also predicted that home price appreciation will slow slightly, rising by 4.3% by this time next year.

Bottom Line

If you are looking to enter the housing market, as either a buyer or a seller, let’s get together to go over exactly what’s going on in our neighborhood and discuss your options! 971.208.5093 or mcleodgroupoffice@gmail.com.

By: KCM Crew

Tuesday, February 13, 2018

The #1 Reason to Sell Now Before Spring


The price of any item (including residential real estate) is determined by ‘supply and demand.’ If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.

According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. As an example, here is what happened to housing inventory at the beginning of 2017:

Putting your home on the market now instead of waiting for increased competition in the spring might make a lot of sense.

Bottom Line

Buyers in the market during the winter months are truly motivated purchasers. They want to buy now. With limited inventory currently available in most markets, sellers are in a great position to negotiate.

Want to know how much your home is worth? Contact The McLeod Group Network today! 971.208.5093 or mcleodgroupoffice@gmail.com.

By: KCM Crew

Friday, February 9, 2018

Exploring Salem Oregon: Cupid’s Night Out at the Carousel


Unlimited Carousel rides, Valentine crafts & activities, cookie decorating, Cupid Bingo & games, photo booth!

$5 per person

Salem’s Riverfront Carousel
101 Front St. NE
Salem
, OR 97301


503-540-0374

Event Website

Courtesy of Amy McLeod, The McLeod Group Network

Wednesday, February 7, 2018

Whether You Rent or Buy, Either Way You’re Paying a Mortgage!

There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”:

“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”

Christina Boyle, Senior Vice President and head of the Single-Family Sales & Relationship Management organization at Freddie Mac, explains another benefit of securing a mortgage as opposed to paying rent:

“With a 30-year fixed rate mortgage, you’ll have the certainty & stability of knowing what your mortgage payment will be for the next 30 years – unlike rents which will continue to rise over the next three decades.”

As an owner, your mortgage payment is a form of ‘forced savings’ which allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person building that equity.

Interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home. Freddie Mac’s latest report shows that rates across the country were at 4.22% last week.

Bottom Line

Whether you are looking for a primary residence for the first time or are considering a vacation home on the shore, now may be the time to buy.

Contact The McLeod Group Network today to discuss your options!  971.208.5093 or mcleodgroupoffice@gmail.com.

By: KCM Crew