5749 Moonstone Lp: Darling Home in Quite South Salem Neighborhood!

Salem-Keizer OR Real Estate For Sale
5749 Moonstone Loop SE, Salem, OR  97306

You are gonna love living here! Lovely landscaping sets the scene for this darling home tucked away in the quite South Salem neighborhood of Sunstone! 5749 Moonstone Loop offers numerous updates including low maintenance flooring, neutral colors, 3 bedrooms and 2 full baths all in an effortlessly flowing floor plan. The formal living/dining room warmly welcomes you in for an impressive home tour! Natural light pours through the large windows creating an elegant atmosphere for entertaining and function. The kitchen offers oodles of work and storage space with an abundance of cabinets, counterspace and a breakfast bar. Open to the spacious family room, this space is designed for relaxed living with sliding doors to the covered patio. You will appreciate this peaceful spot to relax where you can overlook your fenced yard with room for BBQ’s and gardening. The master suite is a soothing oasis to retreat to after a long day. Appreciate the storage space in your two large closets and wash your cares away in your private bath! The two secondary bedrooms are generously sized with plentiful closet space, large windows to let the sunshine in and a shared full bath. There is an attached two car garage and room to park your RV. Modern, chic and move in ready; 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.

The Real Estate Commission: A Guide to Who Pays, How Much, and More

If you hire a real estate agent to help you buy, sell, or rent a house, this professional gets paid through a real estate commission. So how much do you pay, and what for? Is there any wiggle room to negotiate this fee?

As a real estate agent myself, allow me to tell you firsthand everything you need to know about real estate commissions, from who pays to how much to where that money goes.

How much is a real estate commission?

Rather than getting paid hourly or weekly fees, most real estate agents earn money only when a real estate deal goes through.

While there are some real estate agents who will charge a flat fee for their services, most charge a percentage of the sales price of the home once the deal is done. That exact percentage varies, but the commission is typically 5% to 6% of a home’s final sales price. On a $200,000 home, a 6% commission would amount to $12,000.

Granted, this may seem like a serious chunk of change, but keep in mind that no one makes off with the whole amount! Plus, real estate agents don't see a dime until a buyer finds a home she loves, the seller accepts the offer, and all parties meet at the closing table. That process can mean weeks or months of work.

Who pays the commission?

Generally, the home seller pays the full commission for the services of both their own listing agent and the buyer's agent (assuming the buyer has one).

Buyer's and seller's agents typically split the commission. So if a home sells for $200,000 at a 6% commission, the seller's agent and buyer's agent might split that $12,000, and each receive $6,000.

However, the commission split varies from one agent to another, with new agents sometimes earning a smaller percentage of the commission than experienced agents who sell more homes or more expensive properties.

What is dual agency?

So what happens if an agent represents the buyer and the seller? In that case, the agent becomes a “dual agent” and gets paid both commissions. (Talk about a big payday!)

However, because it puts them in a sticky position of having to work for both the seller and the buyer, many agents don’t practice dual agency—and some states don’t even allow it. I believe it creates a conflict of interest. After all, clients hire me to represent their best interests. How can I do that when I'm sitting on both sides of the table?

What does a real estate agent commission cover?

Though people certainly have the option of selling (or buying) their house without a real estate agent, agents provide clients a wide range of services, including helping you price your home, marketing it (on the multiple listing service, social media, and other venues), negotiating with home buyers, and ushering the home sale through closing.

As trained experts, real estate agents can help you fetch top dollar for your house and put out fires—while also alleviating some of the stress that comes with selling a home. (It’s no picnic!) I might be biased, since I’m an agent myself, but great ones earn their keep.

Want proof? Just look at the numbers: A recent survey found that the typical "for sale by owner" home sold for $190,000, compared with $249,000 for agent-assisted home sales, according to the National Association of Realtors®. That’s in line with a recent survey from Keeping Current Matters that found that homes listed for sale with a real estate agent sell for $46,000 more on average than FSBO houses. Perhaps that explains why 92% of home sellers use an agent to sell their house.

Is a real estate agent commission negotiable?

Though 5% to 6% tends to be the norm, commission standards can vary from state to state and among brokerages. Still, there are no federal or state laws that set commission rates—meaning commission is negotiable.

In other words, if you’re a home seller, you can certainly ask your agent to reduce their commission, but be aware that he is not obligated to do so.

A factor to consider: Because the marketing dollars for a property generally come from the agent’s commission, a lower commission could mean less advertising for your house.

That being said, it doesn’t hurt to ask for a lower commission. Most agents won't take offense, and the worst case is they say no. Or, if you’re truly tight on cash—say, because you’ve maxed out your budget buying your next home—you could opt for a transactional agreement, in which the listing agent will help you set an asking price, facilitate communication between you and the buyer, write the contract, and move the process along to closing for a flat fee or lower commission, but you won’t receive the agent's full services. It’s not ideal, but it’s the right route for some people. However, not all agents offer transactional agreements, so you may have to shop around to find one.

Bottom line: It is likely that buying and selling a home will be the biggest financial transactions of your life, so be sure you find an agent that you trust will do a great job. This is not the time to shop solely on price.

What else do I need to know about commissions?

All of the details about a real estate agent's commission (and any transaction fees the agent charges) should be outlined in the contract that you sign when you hire an agent. This is typically referred to as a listing agreement, and it also specifies how long the agent will represent you. (Generally, listing agreements last 90 to 120 days.)

Also keep in mind that there are some exceptions. For instance, rental agents work differently from purchase agents. It's usually the landlord’s job to pay the rental agent's fee, but that’s not set in stone. In New York City, for example, tenants often pay the rental agent’s commission. It's up to the landlord and the tenant to decide who pays the rental agent's fee.

Furthermore, commission is usually higher when selling a vacant lot(anywhere from 10% to 20%), since selling land often takes longer and requires more marketing dollars. Some auctions charge home buyers a 5% "premium," or commission.

As a seller, you want a real estate agent who can broker the best sales price and terms for you, but good agents aren’t cheap. As with most things in life, you get what you pay for.

Contact The McLeod Group Network for all your Real Estate needs! 971.208.5093 or admin@mgnrealtors.com 

By: Realtor.com, Daniel Bortz
Michele Lerner contributed to this report

5 Things to Know So Your Septic System Won't Destroy Your Yard—and Everybody Else's

Just because you have a septic system doesn’t mean you need to be an expert on it. But the real septic experts wish you knew at least a few things. And not just for their sake, but for yours. A little knowledge can go a long way toward preventing massively expensive (and massively gross) issues down the line.

We talked with the pros who service septic systems every day to dig up the most important dirt you need to know.

1. Know how your system works (please)

“What you have in your backyard is your very own water disposal plant,” says Kim Seipp, who owns High Plans Sanitation Service, in Strasburg, CO, with her husband. “When you live in the city, [your waste] goes away and you don’t think about it. It goes to a municipal plant and all kinds of great things happen to it. With a septic system, all that happens in your backyard.”

To give you the basics, everything that goes into your tank naturally separates into three layers.

“Anything heavier than water goes to the bottom, anything lighter goes to the top, and there’s a nice, clear liquid in between,” says Seipp.

Over time, of course, the sludge at the bottom “gets thicker and thicker,” Seipp says.

And that’s why you need a good inspection—and pumping—every now and then.

“It’s like changing the oil in your car. You just have to do it,” Seipp says.

2. You can't put anything you want down your toilet—or garbage disposal

Correction: You can, but it’s not a wise idea.

Everything that goes down your toilets, as well as your shower and sink drains, makes its way into your septic tank. If it can’t physically travel through the pipes, you’ll have a major clog on your hands.

The list of what not to flush encompasses more than you might think. For instance, “you should not flush thick paper down the drain at any time,” warns Jack Pruitt, franchise business consultant and operations specialist for bluefrog Plumbing + Drain. That includes feminine hygiene products and baby wipes. “Doing so can cause costly repairs.”

Heavy use of your kitchen garbage disposal is also a no-no. Food waste, coffee grounds, and greasy or fatty foods will have a tough time breaking down in your septic tank. And the bacteria that grow as a result of these items stewing in your septic tank can prevent your system from working the way it should. (Hint: Toss food waste into a compost pail instead.)

3. Know the location of your septic tank so you don't crush it

“The septic tank and field lines are typically installed in areas near the home, and it’s very important that every homeowner knows where they are,” says Glenn Gallas, vice president of operations of Mr. Rooter Plumbing, a Neighborly Company. “That way, you can prevent driving over it with vehicles or equipment, which can crush them and prevent them from operating properly.”

You’ll also want to avoid planting trees or bushes over or near the area. Effluent—the wastewater that leaves your septic tank to be slowly dispersed underground—contains rich organic matter.

“The roots will seek out those nutrients,” Gallas says. And in doing so, those roots could easily wrap around the pipes of your septic system, setting the stage for disaster.

4. Using less water will help your system work better

Your septic system is responsible for distributing and disposing all of the water that flows through your household. To put that in perspective, Gallas points out, the average person will use up to 70 gallons per day.

If you can reduce that number, you’ll reduce the amount of wastewater your system has to deal with.

To do that, consider replacing your standard-issue toilets with high-efficiency ones. That's because regular toilets use up to 20% to 30% of the water your household consumes. High-efficiency toilets can cut that water usage in half, Gallas says.

You’ll also make a difference by waiting to run your washing machine or dishwasher until they’re full, and switching to low-flow shower heads and faucets.

“Reducing the flow even a little will save you thousands down the road in expensive septic repairs or replacements,” Gallas says.

5. Ignoring your septic system can wreak havoc on the environment

If you neglect to take care of your septic system, it’s not just your pipes (or your family) who’ll suffer. Failing septic systems can pollute nearby bodies of water and contaminate local drinking water. In fact, the second most-cited contamination source of groundwater is septic systems, Gallas says.

To make sure your system isn’t one of them, perform preventive maintenance regularly—and frequently, Gallas says. The average household septic system should be inspected at least every three years and typically needs to be pumped every three to five years.

Contact The McLeod Group Network for all your Real Estate needs! 971.208.5093 or admin@mgnrealtors.com 

By: Realtor.com, Stephanie Booth

'How's the Housing Market Right Now?' Answers Ahead

Yeehaw, the latest home-buying season is now in full swing! And if you're hoping to buy a house soon, listen up: The real estate market changes on a dime, so if you want to succeed in today's environment, you'll want to take its temperature and act accordingly.

And buyers are in luck: By and large, this year's home-buying season is a far better bet for buyers than in the past. So if you're craving some intel on what to expect—and how to use this to your advantage—here's the info you need to confidently buy a house right now.

The strong seller's market is on the wane

In the recent past, you weren’t altogether wrong if it seemed like buyers were offering their firstborn child in order for their offer to get a fair look—and often for houses that you would have snubbed in less-sizzling markets. But now it’s OK to breathe—and even sleep on it.

As inventory begins to rise, the strong seller's market that characterized last season's home-buying season is fading fast. In fact, many say we’re back into what can be considered more of a buyer’s market, where the seller doesn’t hold all the cards, says Brad Cox, a real estate agent at the Vesta Group of Long & Foster Real Estate, in Lutherville, MD. That means you’re going to have some wiggle room to negotiate.

“While you still want to prepare a competitive offer, your time window is likely to expand—meaning you can think it over before rushing in with an offer," Cox says. "And you aren’t going to have to include some of the riskier elements, such as waiving financing or inspection contingencies, that were a hallmark of past years."

But what you face still varies by the Big L

You’ve heard the adage "location, location, location," but it will definitely be a huge factor in 2019's home-buying season, Cox says. Because while bidding wars are out in most markets, real estate is still very neighborhood-driven.

“While you might see a softening market in some areas, others may still be in a strong seller’s market," he explains.

He says the key metric to look for is “days on market,” which means how long a property has been waiting to sell. If you’re hoping to buy in an area where days on market are staying low, you’ll have to be prepared to act a little faster. But in areas where this number has started creeping up, you might be able to look around a little more.

For an accurate pricing picture, look only at the latest comps

Both buyers and sellers rely on comparables, aka comps, when determining a fair price. But that can get tricky as the market starts to turn, because sellers might be remembering a months-ago heyday and pricing accordingly.

“Buyers should only consider the most recent comps, which means the last three months, because that is the most accurate reflection of where the market is,” says agent Jed Lewin of Triplemint in New York City.

But don’t forget that it’s still very easy to insult a seller

Yes, the house might have been on the market a few more days than it would have been last year and the comps might be sliding, but that doesn’t mean you can expect that anything goes when you’re buying a home in 2019.

“I am seeing far more buyers starting to make very aggressive lowball offers in an attempt to test sellers’ appetites, even if they’re totally serious about a given property,” says Lucas Callejas, an agent at Triplemint. But in places where the market is still warm, that can turn sellers off—and turn their attention to the next offer that comes along instead of yours.

You may be able to get a better interest rate than you think

One of the big stories of 2018 was rising mortgage interest rates—but while they ticked up precipitously by the end of last year, they’ve fallen a bit again, so you could be in a good spot, says Beatrice de Jong, director of residential sales at Open Listings, in Los Angeles.

Bottom line: Now is the time to lock in a great rate, since today’s appealing numbers might not last long.

“Interest rates are predicted to rise in 2019 and 2020, so buyers would be wise to shop for and lock in their interest rate as soon as possible,” de Jong says.

Increasing rates can make a huge difference, she points out, noting that the difference between a 5% interest rate and 5.5% interest rate is $93 a month on a $300,000 mortgage loan, which can easily derail a buyer’s budget.

So even if you are trying to improve your credit or save a few more bucks for the down payment, you might be better off just wading in and locking in the rate, says Jason Lerner, vice president and area development manager for George Mason Mortgage, in Lutherville, MD.

“You might work for three months to burnish your credit, and then find that the rate has risen so much that it doesn’t make a difference,” he adds.

Your credit score might be better than you thought

Two recent developments in credit scoring may help would-be buyers: One is the new UltraFICO, which takes into account how you manage your checking, savings, and money market accounts, in addition to your credit cards and consumer loans. And the second is Experian Boost, which adds your utility and cellphone bills into the mix.

But even if you have a stellar record in all those areas, there’s no guarantee these will be your golden ticket, cautions Lerner. That’s because it’s still early days for these initiatives: UltraFICO is currently available only in a pilot phase in certain areas, and Experian has yet to launch the booster product, although it is taking sign-ups. But as these products become more widely available throughout the year, home buyers may reap the benefits.

“A difference in 10 or 20 points to your credit score can make a difference between approval or denial—and can lower your rate, which can save thousands over the life of a mortgage,” Lerner points out. He also predicts that requirements will loosen a bit in 2019: “You might not think your credit is good enough for a mortgage, but it’s worth talking to a lender to see if there is a program out there that can help.”

Contact The McLeod Group Network to find your new home! 971.208.5093 or admin@mgnrealtors.com 

By: Realtor.com, Cathie Ericson

7 Things To Avoid After Applying for a Mortgage!

Congratulations! You’ve found a home to buy and have applied for a mortgage! You are undoubtedly excited about the opportunity to decorate your new home! But before you make any big purchases, move any money around, or make any big-time life changes, consult your loan officer. They will be able to tell you how your decision will impact your home loan.
Below is a list of 7 Things You Shouldn’t Do After Applying for a Mortgage! Some may seem obvious, but some may not!

1. Don’t change jobs or the way you are paid at your job! Your loan officer must be able to track the source and amount of your annual income. If possible, you’ll want to avoid changing from salary to commission or becoming self-employed during this time as well.

2. Don’t deposit cash into your bank accounts. Lenders need to source your money and cash is not really traceable. Before you deposit any amount of cash into your accounts, discuss the proper way to document your transactions with your loan officer.

3. Don’t make any large purchases like a new car or new furniture for your new home. New debt comes with it, including new monthly obligations. New obligations create new qualifications. People with new debt have higher debt to income ratios… higher ratios make for riskier loans… and sometimes qualified borrowers no longer qualify.

4. Don’t co-sign other loans for anyone. When you co-sign, you are obligated. As we mentioned, with that obligation comes higher ratios as well. Even if you swear you will not be the one making the payments, your lender will have to count the payment against you.

5. Don’t change bank accounts. Remember, lenders need to source and track assets. That task is significantly easier when there is consistency among your accounts. Before you even transfer money between accounts, talk to your loan officer.

6. Don’t apply for new credit. It doesn’t matter whether it’s a new credit card or a new car. When you have your credit report run by organizations in multiple financial channels (mortgage, credit card, auto, etc.), your FICO score will be affected. Lower credit scores can determine your interest rate and maybe even your eligibility for approval.

7. Don’t close any credit accounts. Many clients have erroneously believed that having less available credit makes them less risky and more likely to be approved. Wrong. A major component of your score is your length and depth of credit history (as opposed to just your payment history) and your total usage of credit as a percentage of available credit. Closing accounts has a negative impact on both those determinants of your score.

Bottom Line
Any blip in income, assets, or credit should be reviewed and executed in a way that ensures your home loan can still be approved. The best advice is to fully disclose and discuss your plans with your loan officer before you do anything financial in nature. They are there to guide you through the process.

Let The McLeod Group Network assist you in finding your new home! 971.208.5093 or admin@mgnrealtors.com 

By: KCM Crew

4 Reasons to Buy a Home in the Spring

Spring has sprung, and it’s a great time to buy a home! Here are four reasons to consider buying today instead of waiting.

1. Prices Will Continue to Rise
CoreLogic’s latest U.S. Home Price Insights reports that home prices have appreciated by 4.4% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.6% over the next year.

Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase
Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year fixed rate mortgage came in at 4.41% last week. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, and the National Association of Realtors are in unison, projecting rates will increase by this time next year.

An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, You Are Paying a Mortgage
Some renters have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.
As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing cost to work for you?

4. It’s Time to Move On with Your Life
The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.
But what if they weren’t? Would you wait?

Examine the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, greater safety for your family, or you just want to have control over renovations, now could be the time to buy.

Bottom Line
If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

Let The McLeod Group Network assist you in finding your new home! 971.208.5093 or admin@mgnrealtors.com 

By: KCM Crew

5 Tax Breaks That Disappear This Year—and Some Loopholes That Offer Hope

As you've no doubt heard, the U.S. tax code got a major overhaul with the new Tax Cuts and Jobs Act. So what does that mean for the return you're filing right about now? It means you may not be able to take some deductions from the old tax code that saved you major bucks in the past. Ouch!

But it's not quite as bad as you might think. Many tax breaks haven't disappeared completely; rather they've just morphed a bit, redefining who qualifies and for how much. To clue you in to these new rules, here's a rundown of five major tax breaks that have changed this filing year, and who still qualifies for them.

1. Home office tax deduction

You may have heard a rumor that the home office tax deduction went the way of the dodo. Yes, the deduction is gone for W-2 employees of companies who work in a home office on the occasional Friday.

"For non-self-employed people, the home office deduction is going away entirely," says Eric Bronnenkant, certified public accountant, certified financial planner, and Betterment's head of tax.

The loophole: If you're self-employed full time, this deduction lives on. Here's more info on how to take a home office tax deduction.

2. Unlimited property tax

One of the biggest changes for homeowners in the new tax bill is the cap on deducting property taxes.

"Before, regardless of the amount, all property taxes were tax-deductible," explains Bronnenkant. Yet this season, "the maximum you can deduct is $10,000, and that includes state and local income tax, property tax, and sales tax."

So if you pay more than $10,000 a year between your state and local income taxes, property tax, and sales tax, anything exceeding that amount is no longer deductible. This is something to keep in mind as homeowners consider tax benefits of their current or future home.

The loophole: "It is worth noting that this limit applies to a taxpayer’s primary, and in some cases secondary, residence," says Bill Abel, tax manager of Sensiba San Filippo in Boulder, CO. "But it may not apply to rental real estate property."

Why? The $10,000 overall tax limit is applied on Schedule A as an itemized deduction, which would have no bearing on the tax deduction for a rental property on Schedule E. So if you're a landlord, your deduction could edge past that $10,000 limit; make sure to max it out!

3. Moving expenses

If you moved in 2017, lucky you: You are the last to take advantage of the ability to deduct your moving expenses.

The loophole: Active members of the armed forces who moved (or move) after 2017 can still take this deduction, according to Patrick Leddy, a tax partner at Farmand, Farmand, and Farmand.

4. Mortgage interest

One major change for homeowners who purchased a house after Dec. 15, 2017, is that they will be allowed to deduct the interest on no more than $750,000 of acquisition debt—that's a loan used to buy, build, or improve a main or secondary home, says Abel. This is in contrast to the $1,000,000 limit on acquisition debt, which still applies to existing loans incurred on or before Dec. 15, 2017.

The loophole: Homeowners who refinance their debt that existed on or before Dec. 15, 2017, are generally allowed to maintain their $1,000,000 limit from the original mortgage.

5. Interest on a home equity loan

A home equity loan is money you borrow using your home as collateral. This "second mortgage" (because it's in addition to your original home loan) often takes the form of a home equity loan or home equity line of credit. Traditionally, the interest on these loans could be deducted up to $100,000 for married joint filers and $50,000 for individuals. And you could use that money to pay for anything—college tuition, a wedding, you name it.

But now, home equity loan interest is deductible only if it's used for one purpose: to "buy, build, or improve" your home, according to the IRS. So if you're dying to update your kitchen or add a half-bath, you'll get a tax break from Uncle Sam. But if you want to tap your home equity to go to grad school, well, that's on you.

More bad news: Unlike the mortgage interest deduction—where loans taken before Dec. 15, 2018, could be grandfathered into the old laws—home equity loans have no such exemption. People with existing HELOC debt take the hit just like homeowners applying for one now.

The loophole: To reclaim this deduction, you could refinance your second mortgage and your first into a new mortgage that lumps together both debts. This essentially turns your HELOC into a regular mortgage, which means that you can deduct that interest. Just remember that refinancing can be costly, and that this new loan will be subject to the new, smaller limits on deducting mortgage interest—$750,000.

Worried about losing all of these deductions? Don't freak out!

Though the new tax plan is drastically changing how most people will file their taxes, it doesn't necessarily mean that you will end up owing more. Deductions may be dropping, but so are the tax rates for most income groups. And the standard deduction grew to $24,000 for a married couple filing jointly. So, it may all balance out.

Contact The McLeod Group Network at 971.208.5093 or admin@mgnrealtors.com for all your Real Estate needs! 

By: Realtor.com, Margaret Heidenry