Salem-Keizer OR Home For Sale: 1726 Olympia Ave NW, Salem, OR 97304

Salem-Keizer OR Home For Sale
1726 Olympia Ave NW, Salem, OR  97304

The finest quality and craftsmanship highlight this Grand Lady in desirable West Hills Estates! Meticulous attention to detail is beyond evident in the gleaming Rosewood floors, gorgeous moldings and wainscoting, extensive use of tile and granite, custom wood wrap windows and door jams, modern fixtures and lighting all on a floor plan built for entertaining and family function! Sun filled living room flows to the dining room creating a space sure to impress your guests. A wall of built in bookcases highlight the perfect home office or library. A brilliant combination of beauty and function, you will delight in this gourmet kitchen featuring crisp, white cabinetry, granite counters, a tile backsplash, stainless steel appliances and a center island with storage. Sliding doors in the dining area lead to the back deck making indoor/outdoor entertaining a breeze. A gas fireplace surrounded by built in shelving is the focal point in the connecting family room that is sure to be the heart of the home. A half bath and laundry room with cabinetry and sink complete the main level. The grand staircase in the two-story entrance leads you to the second level where you will find 4 generously sized bedrooms, including the impressive master suite. Plush carpeting, a tray ceiling, his and her vanities, soaking tub and separate shower create this luxurious room. A partially fenced yard, appealing landscaping and an attached 3 car garage add to the many desirable features offered here. An unmatched combination of class and comfort could all be yours at 1726 Olympia Ave!

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.

Number of Buyers Putting Down Less Than 10% Hits 7-Year High

According to Black Knight Financial Service’s Mortgage Monitor Report, 1.5 million Americans have purchased a home with down payments under than 10% over the last 12 months. This is great news for buyers as this marks a 7-year high.

Many mortgage programs offered by agencies like Freddie Mac and Fannie Mae allow buyers to put down as low as 3% to purchase their dream homes. The strength of the housing market has aided buyers who used low-down-payment programs to buy. As a recent CNBC article points out,

“Defaults on recent low down payment loans, so far, are slow, but that is as much a factor of the good credit quality as it is the strength of the housing market. Home prices are rising incredibly fast, meaning those borrowers are gaining equity in their homes quickly.”

Low down payments aren’t just great for first-time homebuyers. These programs have allowed homeowners who want to capitalize on the equity they have in their homes to use the profit from their sale to pay off high-interest credit cards, fund education or even start a business.

According to a new Census Report, the Annual Survey of Entrepreneurs, home equity was used to start 7.3% of all businesses in the United States, which equates to over 284,000! The industries that saw the most growth from home equity are accommodation & food services, manufacturing and, retail trade.

Bottom Line

Gone are the days of ‘20% down or no mortgage.’ What could you build with the equity in your house? Let’s get together to evaluate your ability to achieve your dreams today! 971.208.5093 or mcleodgroupoffice@gmail.com 

By: KCM Crew

Don’t Disqualify Yourself… 52% of Approved Loans Have A FICO® Score Under 750

The results of countless studies have shown that potential home buyers, and even current homeowners, have an inflated view of what is really required to qualify for a mortgage in today’s market.

One such study by the Wharton School of Business at the University of Pennsylvania revealed that many millennials have not yet considered purchasing homes simply because they don’t believe they can qualify for a mortgage.

A recent article about millennials by Realtor.com explained that:

“About 72% of aspiring millennial buyers said they’re waiting because they can’t afford to buy…”

The article also explained that 29% of millennials believe their credit scores are too low to buy.The problem here is the fact that they think they will be denied a mortgage is keeping them from even attempting to apply.

Ellie Mae’s Vice President Jonas Moe encouraged buyers to know their options before assuming that they won’t qualify for a mortgage:

“Many potential home buyers are ‘disqualifying’ themselves. You don’t need a 750 FICO® Score and a 20% down payment to buy.”

So, what credit score is necessary?

Below is a breakdown of the FICO^® Score distribution of all closed (approved) loans in July from Ellie Mae’s latest Origination Report.

Over 52% of all approved loans had a FICO^® Score under 750. Many potential home buyers believe that they need a score over 780 to qualify.

Bottom Line

If owning a home of your own has always been your dream and you are ready and willing to buy, or if you are a homeowner who wants to move up, find out if you are able to! Let’s get together to determine if your dreams can become a reality sooner than you thought! 971.208.5093 or mcleodgroupoffice@gmail.com

By: KCM Crew

Exploring Salem Oregon: The Oregon State Fair

Aug. 25-Sept. 4. Come have fun at the 152nd Oregon State Fair. Celebrate the best Oregon has to offer with concerts, livestock, competitions, food, shopping and so much more. Admission charged.

Oregon State Fairgrounds
2330 17th St. NE
Salem, OR 97301

971-701-6573

Event Website

Courtesy of Amy McLeod, The McLeod Group Network

Study: FSBOs Don’t Save Real Estate Commission

One of the main reasons why For Sale By Owners (FSBOs) don’t use a real estate agent is because they believe they will save the commission an agent charges for getting their house on the market and selling it. A new study by Collateral Analytics, however, reveals that FSBOs don’t actually save anything, and in some cases may be costing themselves more, by not listing with an agent.

In the study, they analyzed home sales in a variety of markets in 2016 and the first half of 2017. The data showed that:

“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.” (emphasis added)

Why would FSBOs net less money than if they used an agent?

The study makes several suggestions:

• “There could be systematic bias on the buyer side as well. FSBO sales might attract more strategic buyers than MLS sales, particularly buyers who rationalize lower-priced bids on with the logic that the seller is “saving” a traditional commission. Such buyers might specifically search for and target sellers who are not getting representational assistance from agents.” In other words, ‘bargain lookers’ might shop FSBOs more often.
• “Experienced agents are experts at ‘staging’ homes for sale” which could bring more money for the home.
• “Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.” If more buyers see a home, the greater the chances are that there could be a bidding war for the property.

Three conclusions from the study:

1. FSBOs achieve prices significantly lower than those from similar properties sold by Realtors using the MLS.
2. The differential in selling prices for FSBOs when compared to MLS sales of similar properties is about 5.5%.
3. The sales in 2017 suggest the average price was near 6% lower for FSBO sales of similar properties.

Bottom Line

If you are thinking of selling, FSBOing may end up costing you money instead of saving you money.

Contact McLeod Group Network to find out how much your current home is worth! 971.208.5093 or mcleodgroupoffice@gmail.com

By: KCM Crew

More Boomerang Buyers Are about to Enter the Market

We previously informed you about a study conducted by TransUnion titled, “The Bubble, the Burst and Now – What Happened to the Consumer?” The study revealed that 1.5 million homeowners who were negatively impacted by the housing crisis could re-enter the housing market between 2016-2019.

Recently, HousingWire analyzed data from the US Bankruptcy Courts and revealed that 6 million Americans will have their bankruptcies disappear off their credit reports over the next five years and that this could “possibly send a flood of more homebuyers into the housing market.”

The chart below shows the total number of bankruptcies filed by year in the US over the last 10 years. The light blue bars represent over 3.3 million people who have already waited the 7 years necessary for their reports to no longer include their bankruptcies.

How would this “send a flood of more homebuyers into the housing market”?

As the article mentioned, in 2010 the number of chapter 7 bankruptcies increased to nearly 1.14 million. Now, 7 years later, they will begin to fade from credit histories, enabling prospective buyers to become homeowners again once their credit scores improve.

As we can see from both reports, the homeownership rate has the opportunity to increase drastically over the next few years with all of these boomerang buyers returning to the market.

Bottom Line

If your family was negatively impacted by the housing bust, here is the light at the end of the tunnel! Contact McLeod Group Network to find out if you might be able to purchase your dream home faster than you think! 971.208.5093 or mcleodgroupoffice@gmail.com

By: KCM Crew

Sellers: Your Home is an Oasis in an Inventory Desert

First-time homebuyers are flocking to the real estate market by the thousands to find their dream homes in order to make their dreams of homeownership a reality. Unfortunately for many, the inventory of starter and trade-up homes in the US has struggled to keep up with demand!

According to the National Association of Realtors (NAR), the inventory of homes for sale dropped 7.1% year-over-year to a 4.3-month supply and is down for the 25th consecutive month.

Some homeowners may be hesitant to list their homes for sale because they are worried that they will also have a problem finding a home to buy and move in to. This is a legitimate concern; no one wants to sell their home quickly and not have anywhere to live.

But there is good news! If you are thinking of moving up to a luxury or premium home, there is more inventory available in these markets and you may even get a great deal on a home that has been on the market for a while.

If you are the owner of a starter home and you are looking to move into a trade-up home, or if you are just looking to relocate to a new area in a home of the same size, there is still hope!

In many markets, homeowners are building contingency plans into their contracts. This means that the homeowner builds in extra time before they close in order to find their dream home and they are upfront about the contingency with any buyers who come to see the house.

Your home is an oasis to buyers who are searching for homes in today’s market. The right buyers will sympathize and wait for you and your family to find your next home.

Bottom Line

Don’t let the fear of not finding a home to move in to stop you from moving on with your life. Meet with The McLeod Group Network to discuss ways to set expectations with potential buyers from the start. 971.208.5093 or mcleodgroupoffice@gmail.com

By: KCM Crew

Salem-Keizer OR Home For Sale: 5635 Bayberry Ct SE, Salem, OR 97306

Salem-Keizer OR Home For Sale
5635 Bayberry Ct SE, Salem, OR  97306

Welcome to your own little piece of heaven in desirable Ironwood Estates!  The heart of this nicely updated home is the living room with its soaring vaulted ceiling, fireplace and exposed wood beams, giving it a cozy yet open ambiance. A modernized kitchen offers a large eating area and adjacent breakfast nook sure to please featuring lovely laminate flooring and abundant cabinets. The private master suite includes a full bath with dual sinks. There are two additional, generously sized bedrooms and another full bath.  Spacious laundry room includes cabinets for storage.  Upstairs you will find a sizable loft with a wood stove that can be used as another living area or as an office. You will love the additional space located in the attached, two-car garage.  Escape outdoors to the beautiful deck in the peaceful backyard and enjoy nature surrounded by mature trees. New interior paint, carpet and updated baths, this house is ready and waiting for you to call it home!

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.

Salem-Keizer OR Home For Sale: 6412 Casper Drive N, Keizer, OR 97303

Salem-Keizer OR Home For Sale
6412 Casper Drive N, Keizer, OR  97303

Experience golf course living at its finest in this one of a kind home on the 17th fairway at McNary Golf Course in beautiful Keizer, OR. This one story property incorporates a flowing, open floorplan and amazing golf course views via floor to ceiling windows along the back of the house. You will be immediately impressed by the stately front porch and double door entry. There are gleaming hardwood floors throughout the spacious living areas and gourmet kitchen. Updated, shining granite countertops are sure to please the cook in the family and an abundance of cabinets along with a pantry provide tons of storage.  Relax and unwind in the generously sized master suite featuring a roomy walk in closet and cozy fireplace. You will feel like you are in the lap of luxury in the master bath highlighted by its double vanity and Jacuzzi tub with accented tile. Two additional bedrooms, a full bath and half bath provide plenty of space for a growing family or guests. The huge laundry room doubles as an office space with a built in desk area and cabinets galore.  Do not miss the hidden retreat above the garage!  Step outside on the beautiful deck overlooking the T-Box and enjoy the scenery.  You will feel like you are on vacation year round in this fabulous home!

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.

Homeowner’s Net Worth Is Still Greater Than a Renter’s

Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400). 

The latest survey data, covering 2014-2016 will be released later this year. In the meantime, Lawrence Yun, the National Association of Realtors’ Chief Economist estimates that the gap has widened even further, to 45 times greater ($225,000 vs. $5,000)! 

Put Your Housing Cost to Work for You

As we’ve said before, simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth. Every time you pay your rent, you are contributing to your landlord’s net worth.

The latest National Housing Pulse Survey from NAR reveals that 84% of consumers believe that purchasing a home is a good financial decision. William E. Brown comments:

“Despite the growing concern over affordable housing, this survey makes it clear that a strong majority still believe in homeownership and aspire to own a home of their own. Building equity, wanting a stable and safe environment, and having the freedom to choose their neighborhood remain the top reasons to own a home.” 

Bottom Line

If you are interested in finding out if you could put your housing cost to work for you by purchasing a home, let’s get together and evaluate your ability to buy today! 971.208.5093 or mcleodgroupoffice@gmail.com

By: KCM Crew

Exploring Salem Oregon: Englewood Forest Festival

 

Saturday, August 12, 2017 - 10:00 AM

Enjoy live music, food carts, and free art and environmental workshops. Make a nest box with Salem Audubon Society, learn about pollinators and learn about tree care. The festival is sponsored by Northeast Neighbors (NEN) with support from the City of Salem.
Englewood Park
1260 19th St. NE
Salem, OR 97301
503-581-4325
www.EnglewoodForestFestival.com

Courtesy of Amy McLeod, The McLeod Group Network

Housing Inventory Hits 30-Year Low

Spring is traditionally the busiest season for real estate. Buyers, experiencing cabin fever all winter, emerge like flowers through the snow in search of their dream home. Homeowners, in preparation for the increased demand, are enticed to list their house for sale and move on to the home that will better fit their needs.

New data from CoreLogic shows that even though buyers came out in force, as predicted, homeowners did not make the jump to list their home in the second quarter of this year. Frank Nothaft, Chief Economist for CoreLogic had this to say,

“The growth in sales is slowing down, and this is not due to lack of affordability, but rather a lack of inventory. As of Q2 2017, the unsold inventory as a share of all households is 1.9 percent, which is the lowest Q2 reading in over 30 years.”

CoreLogic’s President & CEO, Frank Martell added,

“Home prices are marching ever higher, up almost 50 percent since the trough in March 2011.

While low mortgage rates are keeping the market affordable from a monthly payment perspective, affordability will likely become a much bigger challenge in the years ahead until the industry resolves the housing supply challenge.”

Overall inventory across the United States is down for the 25^th consecutive month according to the latest report from the National Association of Realtors and now stands at a 4.3-month supply.

Real estate is local.

Market conditions in the starter and trade-up home markets are in line with the median US figures, but conditions in the luxury and premium markets are following an opposite path. Premium homes are staying on the market longer with ample inventory to suggest a buyer’s market.

Bottom Line

Buyers are out in force, and there has never been a better time to move-up to a premium or luxury home. If you are considering selling your starter or trade-up home and moving up this year, let’s get together to discuss the exact conditions in our area. 971.208.5093 or mcleodgroupoffice@gmail.com

By: KCM Crew

20 Tips for Preparing Your House for Sale

Some Highlights:

• When listing your house for sale your top goal will be to get the home sold for the best price possible!
• There are many small projects that you can do to ensure this happens!
• Your real estate agent will have a list of specific suggestions for getting your house ready for market and is a great resource for finding local contractors who can help!

Contact your local expert’s at The McLeod Group Network to find out how much your current home is worth! 971.208.5093 or mcleodgroupoffice@gmail.com.

By: KCM Crew

Exploring Salem Oregon: Molly Moe’s Summer Antique Faire

Aug 11 ~ 5-9 pm early shopping $10 admission. Aug 12 ~ 9 am-4 pm

$3 general admission, children free.

Shop some of the Northwest's best vendors on the outdoor grange grounds, inside the historic grange and schoolhouse. Antique/vintage, re-purposed and handcrafted finds. 

Beer/wine tent, food and live music on Friday night and Saturday.

Free parking. 

Union Hill Grange
15755 Grange Rd.
Sublimity, OR 97385

503-510-0820

Event Facebook Page

Courtesy of Amy McLeod, The McLeod Group Network

Do Your Future Plans Include a Move? What's Stopping You from Listing Now?

Are you an empty-nester? Do you want to retire where you are, or does a vacation destination sound more your style? Are you close to retirement and not ready to move yet, but living in a home that is too big in size and maintenance needs?

How can you line up your current needs with your goals and dreams for the future? The answer for many might be the equity you have in your house.

According to the latest Equity Report from CoreLogic, the average homeowner in the United States gained $14,000 in equity over the course of the last year. On the West Coast, homeowners gained twice that amount, with homeowners in Washington gaining an average of $38,000!

Do you know how much your home has appreciated over the last year?

Many homeowners would be able to easily sell their current house and use the profits from that sale to purchase a condo nearby in order to continue working while eliminating some of the daily maintenance of owning a house (ex. lawn care, snow removal).

With the additional cash gained from the sale of the home, you could put down a sizeable down payment on a vacation/retirement home in the location that you would like to eventually retire to. While you will not yet be able to live there full-time, you can rent out your property during peak vacation times and pay off your mortgage faster.

Purchasing your retirement home now will allow you to take full advantage of today’s seller’s market, allow you to cash in on the equity you have already built, and take comfort in knowing that a plan is in place for a smooth transition into retirement.

Bottom Line

There are many reasons to relocate in retirement, including a change in climate, proximity to family & grandchildren, and so much more. What are the reasons you want to move? Are the reasons to stay more important? Let’s get together to discuss your current equity situation and the options available for you, today! 971.208.5093 or mcleodgroupoffice@gmail.com.

By: KCM Crew