4043 Cheshire Lane SE: To-Be-Built Beauty in Desirable Fairview Addition!

Salem-Keizer OR Real Estate For Sale
4043 Cheshire Lane SE, Salem, OR  97302


SWEET says it all about this to-be-built charmer at Fairview Addition, by Olsen Design & Development! This 3 bedroom, 2.5 bath new construction home encompasses over 1800 square feet of flowing, open living spaces. Be welcomed at your front porch into the warmth of the living room accented by a mantled gas fireplace and custom bookshelves. Stay part of the conversation from the open kitchen outfitted with Bosch appliances. Take in some sun from your reading nook off the dining area. A main floor master with en suite and walk-in closet is privately tucked away allowing you to kick back and relax! Upstairs you will find two nicely sized bedrooms with a private bath providing plenty of space for all your needs. Classic styling with access to Community Garden & more! Be the first to enjoy all that 4043 Cheshire Lane has to offer!

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.

You'll Never Guess How Far New Home Prices Have Dropped

If you've been hoping to buy a pristine, newly built home, but hesitating over the price, you may want to take the plunge now.

The median price of a new-construction home continued its slide, hitting $302,100 in June, according to a joint report by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. That's the lowest it's been since February 2017, when the median was $298,000.

"It's just a couple months of price declines, so I don't want to read too much into it," says realtor.com® Chief Economist Danielle Hale. The median price has been declining each month since it peaked in March at $335,400. "But a shift toward lower prices could indicate a shift toward more affordable construction to come."

That's promising news for buyers who have been growing increasingly frustrated by the lack of homes on the market, along with high prices and rising mortgage rates. In fact, the price gap between existing homes (which have previously been lived in) and new homes, which are typically more expensive, has been closing in recent months.

Existing homes cost a median $276,900 in June, according to the most recent National Association of Realtors® report. That's a new all-time high, but is still 9.1% less than the median price tag of a newly constructed abode.

Meanwhile, the number of new homes sold and for sale, 631,000, was down 5.3% from May, according to the report. However, it was up 2.4% from June of 2017. (Realtor.com® looked only at the seasonally adjusted numbers in the report.)

The Northeast was the only region that saw a surge in new homes being sold and hitting the market in June. It was up 26.8% from the previous month and 20.9% from the the previous year.

The West experienced a 5.2% monthly drop and a 15% annual plunge in the number of new homes sold and for sale. It was followed by the South, where it was down 7.7% from May, but was up 8.1% from June of 2017. In the Midwest, it plummeted 13.4% month-over-month, but the number of homes sold and for sale rose 7.6% year-over-year.

The biggest takeaway from this month's report were the lower prices.

"Entry-level buyers might see some relief on the horizon," says Hale. "We're not talking a huge change in the market where buyers overnight will find the [housing] market is now easy. But it should be easier."

Contact McLeod Group Network to find your new home. 971.208.5093 or mcleodgroupoffice@gmail.com.

By: Realtor.com, Clare Trapasso

Get One While You Can: New-Home Prices Have Fallen to a 12-Month Low

For years, all home buyers have heard is that prices are going up, up, and away. But the cost of buying a newly constructed abode has fallen to its lowest price point of the last 12 months. So if you've been wanting to buy a home that's never been touched by another owner, we give you permission do a happy dance.

The median price of a new home dropped nearly 6.9% from March to April to reach $312,400, according to a joint report by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. That was only up 0.4% from April 2017, less than inflation.

"This could be a sign that builders are trying to build at lower price points," says realtor.com® Chief Economist Danielle Hale. That would be a boon to the many would-be homeowners, particularly first-time buyers or those on a tight budget, who are being priced out of the market. "The largest share of home buyers and home shoppers in the market are looking to buy entry-level homes."

Hale pointed out that 5% of new-home sales were for abodes priced under $150,000. That may not sound like much, but it's the largest share we've seen at that super-desirable price point since August 2016.

However, new homes were still about 24.8% more expensive than the $250,400 median cost of an existing home (one that has previously been lived in), according to the most recent data available from the National Association of Realtors®.

That's because new homes have pricier finishes and appliances, with no wear and tear on anything. Plus, land, labor, and building materials costs have been on the rise.

Meanwhile, the number of new homes sold and for sale dipped 1.5% from the previous month to about 662,000, according to the report. They rose, however, 11.6% from the same month a year earlier.

(Realtor.com® looked only at the seasonally adjusted numbers in the report. These have been smoothed out over 12 months to compensante for ups and downs at certain times of year.)

The Midwest saw the biggest annual bump in the number of homes sold or for sale in April.  About 91,000 home hit the market or were closed on in April, rising a whopping 26.4% from the same month a year earlier, but remaining flat from the previous month.

The West came in second, with a 18.9% year-over-year rise. But the 176,000 abodes for sale or sold were down 7.9% from March.

In the South, the 355,000 homes on the market or changing hands were up 6% annually and increased 0.3% from the previous month. In the Northeast, the number was up 5.3% year-over-year and 11.1% month-over-month, with 40,000 new homes.

"The absolute level of [new-home] sales remains quite low compared to current demand levels and the overall population. But you can’t sell what hasn’t been built," Freddie Mac Deputy Chief Economist Len Kiefer said in a statement. "As long as single-family home construction remains at a low level, so too will new home sales."

Contact The McLeod Group Network for all your Real Estate needs. 971.208.5093 or mcleodgroupoffice@gmail.com.

By: Realtor.com and Clare Trapasso

Thinking of Selling your Home? Competition is Coming

The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of these permits were up 7.7% over last year.

How will this impact buyers?

More inventory means more options. Danielle Hale, Realtor.com’s Chief Economist, explained this is good news for the housing market - especially for those looking to buy:

"It's not spectacular construction growth, but it's slow and steady in the right direction. Eventually, the pickup in single-family home construction will mean [buyers] will have more options. Especially with the limited number of sales right now, more options are really needed."

How will this impact sellers?

More inventory means more competition. Today, because of the tremendous lack of inventory, a seller can expect:

1. A great price on their home as buyers outbid each other for it
2. A quick sale as buyers have so little to choose from
3. Fewer hassles as buyers don’t want to “rock the boat” on the deal

With an increase in competition, the seller may not enjoy these same benefits. As Hale said:

"As new construction continues to increase, home shoppers will eventually have more [choices] and a bit more time to make purchase decisions compared to today's quick-moving housing market."

Bottom Line

If you are considering the sale of your home, it might make sense to beat this new construction competition to the market. 

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

By: KCM Crew