Salem-Keizer OR Home For Sale
566 45th Place NE, Salem, OR 97301

Welcome home to 566 45th Place NE, an affordable one level home just waiting for one lucky buyer. Enjoy a light and airy open floor plan featuring 3 bedrooms, 1 full bath, fresh paint, a new roof, hardwood floors, built ins, cedar siding and an attached 1 car garage. Spacious and bright living room with a toasty wood burning fireplace provides plenty of room for the whole family and guests! Effortlessly flowing to the dining area and kitchen with abundant cabinetry and easy care flooring, plus the refrigerator and microwave are included. The three generously sized bedrooms feature hardwood floors, plentiful closet space and a shared bathroom for ample space to grow and privacy for all. Tons of room in the large fenced yard for gardening and entertaining. Make your appointment today to view this fabulous deal in Salem 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.

2 Charts That Show the Truth about Home Affordability

There is a lot of discussion about the current state of housing affordability for both first-time and move-up buyers, and much of the narrative is tarnished with a negative slant. However, the truth is that housing affordability is better today than at almost any time in our history.

The naysayers are correct in the fact that affordability today is not as good as it has been over the last several years. But, we must remember that home prices collapsed during the housing crash, and distressed properties (foreclosures and short sales) kept home values depressed for years. When we compare affordability to the decades that proceeded the crash, a different story is revealed.

Here is a graph of the National Association of Realtors’ Housing Affordability Index. The higher the graph, the more affordable homes are.

We can see that affordability is better today than in the fifteen years prior to the boom and bust.

CoreLogic just published a report showing the National Homebuyers’ “Typical Mortgage Payment.” Here is a graph of their findings:

It reveals that, though a ‘typical’ housing payment was less expensive in 2012 (remember distressed properties), it is currently less expensive than it was in 2000 and is still projected to be lower next year than it was in 2000.

Bottom Line

Mark Fleming, Chief Economist at First American, explained it best:

“While borrowing power for the potential home buyer has fallen relative to the low point of 2012, it remains high today and will remain high next year, relative to the long run average. If you don’t want to rent anymore and are considering becoming a homeowner, even if mortgage rates rise next year, your borrowing power will remain strong by historic standards.”

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

By: KCM Crew

The Cost of NOT Owning Your Home

Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed.

Zillow recently reported that:

“In reality, buying or renting a home is an intensely personal decision, with emotional and even financial considerations that go beyond whether to invest in this one (admittedly large) asset. Looking strictly at housing market numbers, there is a concrete point at which buying a home makes more financial sense than renting it.”

What proof exists that owning is financially better than renting?

1. We recently highlighted the top 5 financial benefits of homeownership:

• Homeownership is a form of forced savings.
• Homeownership provides tax savings.
• Homeownership allows you to lock in your monthly housing cost.
• Buying a home is cheaper than renting.
• No other investment lets you live inside of it.

2. Studies have shown that a homeowner’s net worth is 44x greater than that of a renter.

3. Just a few months ago, we explained that a family that purchased an average-priced home at the beginning of 2017 could build more than $48,000 in family wealth over the next five years.

4. Some argue that renting eliminates the cost of taxes and home repairs, but every potential renter must realize that all the expenses the landlord incurs are already baked into the rent payment– along with a profit margin!!

Bottom LineOwning a home has always been, and will always be, better from a financial standpoint than renting.

Meet with McLeod Group Network to discuss your options! 971.208.5093 or mcleodgroupoffice@gmail.com

By: KCM Crew

Exploring Salem Oregon: Christmas in the Garden

Nov. 24-Dec. 31. Twinkling lights, artisan vendors, ice skating, photos with Santa, traditional German food, carolers, and more. Pricing and activities vary by night

The Oregon Garden
879 W Main St.
Silverton, OR 97381

503-874-8100

Event Website

Courtesy of Amy McLeod, The McLeod Group Network

Happy Thanksgiving!

Courtesy of Amy McLeod, The McLeod Group Network

Access is an Important Factor in Getting Your House SOLD!

So, you’ve decided to sell your house. You’ve hired a real estate professional to help you with the entire process, and they have asked you what level of access you want to provide to potential buyers.

There are four elements to a quality listing. At the top of the list is Access, followed by Condition, Financing, and Price. There are many levels of access that you can provide to your agent so that he or she can show your home.

Here are five levels of access that you can give to buyers, along with a brief description:

1. Lockbox on the Door – this allows buyers the ability to see the home as soon as they are aware of the listing, or at their convenience.
2. Providing a Key to the Home – although the buyer’s agent may need to stop by an office to pick up the key, there is little delay in being able to show the home.
3. Open Access with a Phone Call – the seller allows showings with just a phone call’s notice.
4. By Appointment Only (example: 48-Hour Notice) – Many buyers who are relocating for a new career or promotion start working in that area prior to purchasing their home. They often like to take advantage of free time during business hours (such as their lunch break) to view potential homes. Because of this, they may not be able to plan their availability far in advance or may be unable to wait 48 hours to see the house.
5. Limited Access (example: the home is only available on Mondays or Tuesdays at 2pm or for only a couple of hours a day) – This is the most difficult way to be able to show your house to potential buyers.

In a competitive marketplace, access can make or break your ability to get the price you are looking for, or even sell your house at all.

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

By: KCM Crew

Homeowners: Your House Must Be Sold TWICE

In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 5%+ over the next twelve months. One major challenge in such a market is the bank appraisal.

If prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that recently closed) to defend the selling price when performing the appraisal for the bank.

Every month in their Home Price Perception Index (HPPI), Quicken Loans measures the disparity between what a homeowner who is seeking to refinance their home believes their house is worth, and an appraiser’s evaluation of that same home.

Bill Banfield, Executive VP of Capital Markets at Quicken Loans urges anyone looking to buy or sell in today’s market to remember the impact of this challenge:

“Based on the HPPI, it appears homeowners in the markets where prices are rising faster than the national average – like Denver, Seattle and San Francisco – are continuing to underestimate just how quickly home values are rising, so the average appraisal is higher than homeowner estimate.

On the inverse of that, homeowners in areas where the values aren’t rising as fast may think they are rising faster than they are, leading to the appraisal lagging the estimate.”

The chart below illustrates the changes in home price estimates over the last 12 months.

Bottom Line

Every house on the market must be sold twice; once to a prospective buyer and then to the bank (through the bank’s appraisal). With escalating prices, the second sale might be even more difficult than the first. 
If you are planning on entering the housing market this year, let’s get together to discuss this and any other obstacles that may arise. 971.208.5093 or mcleodgroupoffice@gmail.com

By: KCM Crew

Salem-Keizer OR Home For Sale: 895 16th Street NE, Salem, OR 97301

Salem-Keizer OR Home For Sale
895 16th Street NE, Salem, OR  97301 

 Englewood charmer situated on a lovely corner lot on a picturesque tree lined street! The light and bright flowing floor plan of this home offers so much space for family function and guests featuring hardwood floors, beautiful built-ins, exposed beams, lovely moldings and trim, large windows letting the natural light in, plus cedar siding and a detached 1 car garage. Kick back, relax and toast your toes by the fireplace in this cozy living room. The connecting dining room is sure to impress with its full wall built in hutch! Hosting all the holiday gatherings will be a delight! The cute country kitchen provides lots of cabinet space, a sunny eat in area and access to the side deck. The spacious family room in the finished basement provides so much extra living space – perfect for media or play room. The four generously sized bedrooms provide plenty of room to grow and privacy for all with two on the main level and two upstairs. You are sure to appreciate the convenient location close to city center and services. Retreat from the hustle and bustle of everyday life simply by coming 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: Thanksgiving Before & After Weekend Festivals - Redhawk Vineyard & Winery

Saturday, November 18 - 11:00 AM to 5:00 PM

Barrel tasting, delicious food, and an incredible view. Serving Tri-Tip sandwiches, butternut squash soup, homemade sausage, smoked salmon pate, cheeses and more. Meet the winemaker and sample a future release. Everything included with a $10 tasting fee. 

Redhawk Vineyard & Winery
2995 Michigan City Ln NW
Salem, OR 97304

503-362-1596

Event Website

Courtesy of Amy McLeod, The McLeod Group Network

Mortgage Interest Rates Are Going Up… Should I Wait to Buy?

Mortgage interest rates, as reported by Freddie Mac, have increased over the last several weeks. Freddie Mac, along with Fannie Mae, the Mortgage Bankers Association and the National Association of Realtors, is calling for mortgage rates to continue to rise over the next four quarters.

This has caused some purchasers to lament the fact that they may no longer be able to get a rate below 3.5%. However, we must realize that current rates are still at historic lows.
Here is a chart showing the average mortgage interest rate over the last several decades:

Bottom Line

Though you may have missed getting the lowest mortgage rate ever offered, you can still get a better interest rate than your older brother or sister did ten years ago, a lower rate than your parents did twenty years ago, and a better rate than your grandparents did forty years ago.

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

By: KCM Crew 

7 Reasons to List Your Home This Holiday Season

Every year at this time, many homeowners decide to wait until after the holidays to put their homes on the market for the first time, while others who already have their homes on the market decide to take them off until after the holidays.
Here are seven great reasons not to wait:

1. Relocation buyers are out there. Many companies are still hiring throughout the holidays and need their employees in their new positions as soon as possible.
2. Purchasers who are looking for homes during the holidays are serious buyers and are ready to buy now.
3. You can restrict the showings on your home to the times you want it shown. You will remain in control.
4. Homes show better when decorated for the holidays.
5. There is less competition for you as a seller right now. Let’s take a look at listing inventory as compared to the same time last year:

6. The desire to own a home doesn’t stop when the holidays come. Buyers who were unable to find their dream home during the busy spring and summer months are still searching!
7. The supply of listings increases substantially after the holidays. Also, in many parts of the country, new construction will continue to surge reaching new heights in 2018, which will lessen the demand for your house.

Bottom Line
Waiting until after the holidays to sell your home probably doesn’t make sense.

Let’s get together to discuss your options!  971.208.5093 or mcleodgroupoffice@gmail.com

By: KCM Crew

Exploring Salem Oregon: Holiday Gift Sale

Friday, November 10 & Saturday, November 11 - 9:00 am to 3:00 pm

Annual holiday gift sale. Shop for the perfect gift within the gorgeous Queen Anne Victorian-style home of Deepwood. Our select vendors offer a variety of holiday options; chocolates, teas, holiday decorations, jewelry and more. Free admission.

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

503-363-1825

Event Facebook Page

Courtesy of Amy McLeod, The McLeod Group Network

Happy Veteran's Day!

"To us in America, the reflections of Armistice Day will be filled with solemn pride in the heroism of those who died in the country’s service and with gratitude for the victory, both because of the thing from which it has freed us and because of the opportunity it has given America to show her sympathy with peace and justice in the councils of the nations…"--President Woodrow Wilson

So began President Wilson in November 1919, when he dedicated Armistice Day, November 11, to the cause of world peace and to honor the sacrifice of the US military after World War I. Nineteen years later, a legal holiday was officially signed into being, and in 1954, the name was changed from Armistice Day to Veterans Day to honor all veterans. Veterans Day differs from Memorial Day in that it celebrates living and dead US Veterans, and pays tribute to their sacrifices for the freedoms in this country.

Ceremonies, parades, and special events dedicated to honoring our veterans happen all over the country, and what better way to pay tribute than to attend an event in our local area?  See the links for more information!

All National Parks admission is free on Veterans Day Weekend

Tribute to Veterans
Oregon Women Veterans Memorial Dedication

Courtesy of Amy McLeod, The McLeod Group Network

A Housing Bubble? Industry Experts Say NO!

With residential home prices continuing to appreciate at levels above historic norms, some are questioning if we are heading toward another housing bubble (and subsequent burst) like the one we experienced in 2006-2008.
Recently, five housing experts weighed in on the question.

Rick Sharga, Executive VP at Ten-X:

“We’re definitely not in a bubble.”
“We have a handful of markets that are frothy and probably have hit an affordability wall of sorts but…while prices nominally have surpassed the 2006 peak, we’re not talking about 2006 dollars.”

Christopher Thornberg, Partner at Beacon Economics:

“There is no direct or indirect sign of any kind of bubble.”
“Steady as she goes. Prices continue to rise. Sales roughly flat.…Overall this market is in an almost boring place.”

Bill McBride, Calculated Risk:

“I wouldn't call house prices a bubble.”
“So prices may be a little overvalued, but there is little speculation and I don't expect house prices to decline nationally like during the bust.”

David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices:

“Housing is not repeating the bubble period of 2000-2006.”
“…price increases vary unlike the earlier period when rising prices were almost universal; the number of homes sold annually is 20% less today than in the earlier period and the months’ supply is declining, not surging.”

Bing Bai & Edward Golding, Urban Institute:

“We are not in a bubble and nowhere near the situation preceding the 2008 housing crisis.”
“Despite recent increases, house prices remain affordable by historical standards, suggesting that home prices are tracking a broader economic expansion.”

Let’s get together to discuss your home buying and home selling needs. 971.208.5093 or mcleodgroupoffice@gmail.com

By: KCM Crew