Happy Halloween!

Courtesy of Amy McLeod, The McLeod Group Network

Buying a Home Can Be Scary... Unless You Know the Facts

Some Highlights:

Many potential homebuyers believe that they need a 20% down payment and a 780 FICO® score to qualify to buy a home, which stops many of them from even trying! Here are some facts:

• 40% of millennials who purchased homes this year have put down less than 10%.
• 76.4% of loan applications were approved last month.
• The average credit score of approved loans was 724 in September.

Buying a house with McLeod Group Network isn't scary! Contact us today to start your search! 971.208.5093 or mcleodgroupoffice@gmail.com. 

By: KCM Crew

Salem-Keizer OR Home For Sale: 1462 Tripp St SE, Salem, OR 97302

Salem-Keizer OR Home For Sale
1462 Tripp St SE, Salem, OR  97302

Welcome home to 1462 Tripp St SE, a fully remodeled darling cottage that just shines! A charming front porch invites you in. The open floor plan features a living/dining room combo opening to the kitchen creating the perfect space for entertaining and family function! Preparing a meal will be a delight in the updated kitchen with stainless steel appliances and granite countertops. Three generously sized bedrooms provide plenty of space for a growing family and overnight guests, plus the bathroom has been fully remodeled. The large, fully fenced yard offers plenty of room to run, play and BBQ. Make your appointment today to this this charming Salem OR 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.

Exploring Salem Oregon: Deepwood Children’s Halloween Party

Deepwood Children’s Halloween Party

Saturday, October 28, 2017
12:00 PM to 3:00 PM

Annual Children’s Halloween Party on the beautiful historic grounds of Deepwood Museum & Gardens. Crafts, activities, and treats. Register online.

$5 admission.

Deepwood Museum & Gardens
1116 Mission St. SE
Salem, OR 97302

503-363-1825

www.deepwoodmuseum.org/event-calendar/event/98/2017-10-28

Courtesy of Amy McLeod, The McLeod Group Network

The #1 Reason to List Your House, NOW!

The National Association of Realtors (NAR) released the results of their latest Existing Home Sales Report which revealed that sales rose 0.7% month-over-month, but remain 1.5% lower than they were a year ago. Some may look at these numbers and think that now is not a good time to sell their house, but in fact, the opposite is true.

The national slowdown in sales is directly tied to a lack of inventory available for the buyers who are out in the market looking for their dream homes! The inventory of homes for sale has fallen year-over-year for the last 28 months and has had an upward impact on home prices.

NAR’s Chief Economist Lawrence Yun had this to say,

“Home sales in recent months remain at their lowest level of the year and are unable to break through, despite considerable buyer interest in most parts of the country.

Realtors® this fall continue to say the primary impediments stifling sales growth are the same as they have been all year: not enough listings – especially at the lower end of the market – and fast-rising prices that are straining the budgets of prospective buyers.” (emphasis added)

The houses that are on the market are selling fast, too! According to NAR’s Realtors Confidence Index, the median number of days it took for a house to go from listed to under contract over the past three months was 34.

Bottom Line

If you are one of the many homeowners who is debating listing your house for sale this year, the time is now! Let’s get together to discuss the specifics of our market! 971.208.5093 or mcleodgroupoffice@gmail.com. 

By: KCM Crew

5 Reasons to Hire a Real Estate Professional When Buying or Selling!

Whether you are buying or selling a home, it can be quite an adventurous journey. This is why you need an experienced real estate professional to guide you on the path to your ultimate goal. In this world of instant gratification and internet searches, many sellers think that they can For Sale by Owner or FSBO.

The 5 reasons you NEED a real estate professional in your corner haven’t changed, but have rather been strengthened by the projections of higher mortgage interest rates & home prices as the market continues to pick up steam.

1. What do you do with all this paperwork?

Each state has different regulations regarding the contracts required for a successful sale, and these regulations are constantly changing. A true real estate professional is an expert in his or her market and can guide you through the stacks of paperwork necessary to make your dream a reality.

2. Ok, so you found your dream house, now what?

There are over 180 possible steps that need to take place during every successful real estate transaction. Don’t you want someone who has been there before, someone who knows what these actions are, to make sure that you achieve your dream?

3. Are you a good negotiator?

So maybe you’re not convinced that you need an agent to sell your home. After looking at the list of parties that you will need to be prepared to negotiate with, you’ll soon realize the value in selecting a real estate professional. From the buyer (who wants the best deal possible), to the home inspection companies, to the appraiser, there are at least 11 different people who you will need to be knowledgeable of, and answer to, during the process.

4. What is the home you’re buying/selling really worth?

It is important for your home to be priced correctly from the start to attract the right buyers and shorten the amount of time that it’s on the market. You need someone who is not emotionally connected to your home to give you the truth as to your home’s value. According to a study by Collateral Analytics, FSBOs achieve prices significantly lower than those from similar properties sold by real estate agents:

“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.”

Get the most out of your transaction by hiring a professional.

5. Do you know what’s really going on in the market?

There is so much information out there on the news and on the internet about home sales, prices, and mortgage rates; how do you know what’s going on specifically in your area? Who do you turn to in order to competitively and correctly price your home at the beginning of the selling process? How do you know what to offer on your dream home without paying too much, or offending the seller with a lowball offer?

Dave Ramsey, the financial guru, advises:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Hiring an agent who has his or her finger on the pulse of the market will make your buying or selling experience an educated one. You need someone who is going to tell you the truth, not just what they think you want to hear.

Bottom Line

You wouldn’t replace the engine in your car without a trusted mechanic. Why would you make one of the most important financial decisions of your life without hiring a real estate professional?

Let The McLeod Group Network be your trusted real estate professionals! 971.208.5093 or mcleodgroupoffice@gmail.com. 

By: KCM Crew

Exploring Salem Oregon: 2017 Barn Dance and Pig Roast

Pull on your boots and join us for a night of good old fashioned fun at The Oregon Garden.

Tickets sell fast! Buy yours before they sell out. 

Dance only tickets: Just want to get your boot scoot on? Admission to the event is $25 pre-sale ($22 for Oregon Garden members). Includes admission, line dance lessons, and your first beer is on us!

Dinner and Dancing: Get the full meal deal for $40 pre-sale ($37 for Oregon Garden members). Includes admission, line dance lessons, a pig roast dinner, and your first beer is on us!

If you purchase a dance only ticket and decide once you get here that you want something to eat, no worries! Adam's Ribs will be on site selling Pig Roast dinners. Dinner will run around $17 and typically includes pulled pork, slaw, beans, corn bread, and a beverage. They will also have items for sale a la carte. SO,  bring your appetite!

SEATING

Seating at this event is let's-make-friends-style.

Play it safe and stay the night!

If you plan to book a room, don't buy your tickets here. They'll be included with your room!

The Oregon Garden Resort is offering room packages starting at $189. Each package includes (2) Dinner and Dancing tickets, an overnight stay, admission to The Oregon Garden, and breakfast the next morning! Call 503-874-2500 to book. Ask for the Barn Dance Package.

Event Website

Buy Tickets Here

Courtesy of Amy McLeod, The McLeod Group Network

Hiring an Agent to Sell Your House May Cost You NOTHING!

There is no doubt that it is easier to sell your house when using the services of a local real estate professional. The agent will provide:

• Greater exposure to more buyers
• The skills of a professional negotiator
• A layer of protection from possible legal liabilities
• Professional guidance in navigating any pitfalls that may arise
• A level of safety while showing the home

There is no doubt that these services are valuable to any family that decides to sell. The only question is – how valuable? One of the main reasons For Sale By Owners (FSBOs) don’t use a real estate agent is because they believe these services are not worth the fee an agent charges. But, what if those services didn’t cost the seller a penny?

A 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 on their own 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.

Let's get together to decide if now is the right time for you to put your home on the market. McLeod Group Network, 971.208.5093 or mcleodgroupoffice@gmail.com 

By: KCM Crew

Thinking of Selling? You Should Do It TODAY!!

That headline might be a little aggressive; however, as August 2017’s housing market data begins to roll in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME TODAY!

In a recent article by CBS News, they explained that the number of existing home sales is shrinking, and Lawrence Yun, Chief Economist for the National Association of Realtors, said:

“There should be 3 million homes on the market right now…Yet, there are only 1.9 million.”

And this situation will be affected greatly by recent natural disasters. Yun continued by saying:

“Before the hurricanes I would have predicted 1.35 million in new-home construction in 2018…I’ll have to scale that down now.”

NAR, in their August 2017 Realtors® Confidence Index, indicated that:

“Amid sustained job creation and sustained historically low mortgage rates, REALTORS® reported…that buyer demand is stronger compared to conditions one year ago… and that fifty percent of properties were on the market for less than one month when sold.”

The only challenge to today’s market is a severe lack of inventory. A balanced market would have a full six-month supply of homes for sale. Currently, there is only a 4.2-month supply of inventory, which is down from 4.5 months one year ago.

Bottom Line

With demand increasing and supply dropping, this may be the perfect time to get the best price for your home. Let’s get together and discuss the inventory levels in your neighborhood to determine your next steps. 971.208.5093 or mcleodgroupoffice@gmail.com

By: KCM Crew

Exploring Salem Oregon: Westminster Festival of Fine Art

Saturday, October 14, 2017 - 10:00 AM to 5:00 PM
Sunday, October 15, 2017 - 9:00 AM to 12:00 PM

Westminster Presbyterian Church
3737 Liberty Rd. S
Salem, OR 97301

503-364-3327

30th Annual Festival will exhibit sixty artists.  Includes Visions of Hope, who markets donated Oregon inmate artwork to benefit a Ugandan orphanage. Free admission.

Even Website

Courtesy of Amy McLeod, The McLeod Group Network

Net Worth of Homeowners 44X Greater than Renters

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 data, covering 2013-2016 was released two weeks ago.

The study revealed that the 2016 median net worth of homeowners was $231,400 - a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).

These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter.

Owning a home is a great way to build family wealth

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 by increasing the equity in your home.

That is why, for the fourth year in a row, Gallup reported that Americans picked real estate as the best long-term investment. This year’s results showed that 34% of Americans chose real estate, followed by stocks at 26% and then gold, savings accounts/CDs, or bonds.

Greater equity in your home gives you options

If you want to find out how you can use the increased equity in your home to move to a home that better fits your current lifestyle, let’s get together to discuss the process. 971.208.5093 or mcleodgroupoffice@gmail.com

By: KCM Crew

No… You Do Not Need 20% Down to Buy NOW!

The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. The results of the survey show that non-homeowners cite the main reason for not currently owning a home, as not being able to afford one.

This brings us to two major misconceptions that we want to address today.

1. Down Payment

NAR’s survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According to the report, 39% of non-homeowners say they believe they need more than 20% for a down payment on a home purchase. In actuality, there are many loans written with a down payment of 3% or less.

Many renters may actually be able to enter the housing market sooner than they ever imagined with new programs that have emerged allowing less cash out of pocket.

2. FICO® Scores

An Ipson survey revealed that 62% of respondents believe they need excellent credit to buy a home, with 43% thinking a “good credit score” is over 780. In actuality, the average FICO® scores of approved conventional and FHA mortgages are much lower.

The average conventional loan closed in August had a credit score of 752, while FHA mortgages closed with a score of 683. The average across all loans closed in August was 724. The chart below shows the distribution of FICO® Scores for all loans approved in August.

Bottom Line

If you are a prospective buyer who is ‘ready’ and ‘willing’ to act now, but are not sure if you are ‘able’ to, let’s sit down to help you understand your true options. 971.208.5093 or mcleodgroupoffice@gmail.com

By: KCM Crew

Salem-Keizer OR Home For Sale: 374 Ida W, Stayton, OR 97383

Salem-Keizer OR Home For Sale
374 Ida W, Stayton, OR  97383

Welcome home to 374 Ida W, a darling home in desirable Stayton OR. 3 bedrooms, 2 full baths, high ceilings, neutral colors, recessed lighting, sliding doors and a flowing floor plan are sure to be enjoyed by one lucky buyer! Vaulted ceilings and a large bay window help create a relaxing atmosphere in this spacious great room. A sun filled eating area opens to the large kitchen where the chef is sure to enjoy an abundance of counter space, oak cabinetry, a coffee bar and pantry. Retreat to the soothing master suite with a large walk in closet and private bath. The two secondary bedrooms feature plush carpeting and plentiful closet space, plus a full bath to share. A great utility room with storage space helps to keep things tidy. An attached 2 car garage, partially fenced yard, storage shed and space for a garden - bring your green thumb and enjoy your outdoor living space. Exceptional one level living awaits – make your appointment 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: Oregon’s Bounty: A Celebration of the Harvest at the Oregon State Capitol

Saturday, October 7, 2017 - 10:00 AM to 2:00 PM

Celebrate Oregon’s Bounty and meet the Oregon Dairy Princesses. We will have face painting, free pumpkin patch, live music and dancing, baby animals, antique tractor display, and activities for the entire family. 

Oregon State Capitol
900 Court St. NE
Salem, OR 97301
503-986-1388

Event Page

Courtesy of Amy McLeod, The McLeod Group Network

Salem-Keizer OR Home For Sale:1998 Brandon St NE, Keizer, OR 97303

Salem-Keizer OR Home For Sale
1998 Brandon St NE, Keizer, OR  97303

Today is your lucky day!  Take advantage of all the sellers remodeling, including a brand new kitchen, updated master suite, easy care wood laminate flooring, recessed lighting, a finished basement and attached 2 car garage! The open floor plan is great for entertaining and family function starting in the spacious living room where sun pours in through the large windows and a toasty stove keeps you warm on those cool nights. Granite counters, a beautiful backsplash, stainless steel appliances and an abundance of cabinetry make this stylish kitchen a chefs delight! Indoor/outdoor enjoyment will be a breeze from the lovely dining area with sliding doors to the large back deck. Plush carpeting, neutral colors, and two closets highlight the soothing master suite. The finished basement offers a large family room, the 4th bedroom, perfect for guests, and laundry room. A partially fenced yard with mature trees provides privacy. Do not hesitate, this North View Terrace home will not last!

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.

The Truth About Homeowner Equity

A recent article from a reputable news source was titled: Here's why some homeowners still can't sell. In the opening bullets of the article, the author claimed, “Negative equity is one of the main reasons why there are so few homes for sale.” The article then goes on to soften that stance but we want to bring better clarity to the equity situation.

A recent report from CoreLogic (which was quoted in the article) revealed that over 80% of all homes now have “significant equity,” which means the home has over 20% equity. That level of equity allows the homeowner to sell their home if they so desire. (There was no reference to significant equity in the article.)

If eight out of ten homeowners now have significant equity in their homes, it is hard to make the claim that lack of equity is “one of the main reasons why there are so few homes for sale.”

Here is a map showing the percentage of homes in each state which currently have significant equity:

Bottom Line

If you are one of many homeowners who is debating selling your home and are wondering how much equity you have accumulated, let’s get together to determine if now is the time to list.

McLeod Group Network, 971.208.5093 or mcleodgroupoffice@gmail.com

By: KCM Crew

Which Homes Have Increased in Value the Most?

Home values have risen dramatically over the last twelve months. The latest Existing Home Sales Reportfrom the National Association of Realtors puts the annual increase in the median existing-home price at 5.6%. CoreLogic, in their most recent Home Price Index Report, revealed that national home prices have increased by 6.7% year-over-year.

CoreLogic broke appreciation down ever further into four price ranges which gives a more detailed view than simply looking at the year-over-year increases of the national median home price.

The chart below shows the four tiers and each one’s growth from July 2016 to July 2017 (the latest data available).

It is important to pay attention to how prices are changing in your local market. The location of your home is not the only factor in determining how much it has appreciated over the course of the last year. Lower priced homes have appreciated at greater rates than homes at the upper ends of the spectrum, due to demand from first-time home buyers and baby boomers looking to downsize.

Bottom Line

If you are planning on listing your home for sale in today’s market, let’s get together to go over exactly what’s going on in your area and your price range. McLeod Group Network, 971.208.5093 or mcleodgroupoffice@gmail.com

By: KCM Crew