March 25th 2008 - Salem Real Estate Market
just ranked # 1 by HousingPredictor.com
just ranked # 1 by HousingPredictor.com
Housing Predictor.com provides independent real estate market forecasts for more than 250 cities in all 50 U.S. States and housing news. Reports are updated and local markets reassessed on an on-going basis. More than 20 factors are considered issuing each forecast, including economics, regional political influences, business development, employment levels and other socioeconomic issues. Salem just moved from #2 to # 1 in a recent reassesment and announcement today.
March 25, 2008: "Two of the three top real estate markets, which were on the Hottest 10 list at the beginning of the year, have been cut due to drastically changing market conditions. Real estate markets in many areas of the country are undergoing sweeping changes as a result of the credit crisis and other factors.The top spot now goes to Salem, Oregon, which has experienced abundant growth as an exception to the overall ailing Oregon housing landscape. " - Mike Colpits,American Chronicle HousingPredictor.com - read full article >
March 25, 2008: "Two of the three top real estate markets, which were on the Hottest 10 list at the beginning of the year, have been cut due to drastically changing market conditions. Real estate markets in many areas of the country are undergoing sweeping changes as a result of the credit crisis and other factors.The top spot now goes to Salem, Oregon, which has experienced abundant growth as an exception to the overall ailing Oregon housing landscape. " - Mike Colpits,American Chronicle HousingPredictor.com - read full article >
What's All the Fuss About the Salem Oregon Real Estate Market ?
Even before the articles came out, we have seen an increase in activity with buyers since January 2008. One listing in South Salem, priced right, sold in three days. A fixer in Dallas, Oregon sold in one week for cash. Based on supply and demand, more buyers mean that prices may firm up and stop being reduced as the competition increases. But this may not happen overnight. Now that we are starting to get national attention again, we will have people from all over the country taking a look here. It has already been happening for some time now, but an increase in buyers is a good possibility based on current trends. Of course, many will need to sell their homes in their market before moving here, and that needs to be factored in. We will see how this year goes in the Salem market. I expect it to be stronger than last year. But no one can predict the future, so don't hold me to it ! But it is refreshing to see a positive news article.
Even before the articles came out, we have seen an increase in activity with buyers since January 2008. One listing in South Salem, priced right, sold in three days. A fixer in Dallas, Oregon sold in one week for cash. Based on supply and demand, more buyers mean that prices may firm up and stop being reduced as the competition increases. But this may not happen overnight. Now that we are starting to get national attention again, we will have people from all over the country taking a look here. It has already been happening for some time now, but an increase in buyers is a good possibility based on current trends. Of course, many will need to sell their homes in their market before moving here, and that needs to be factored in. We will see how this year goes in the Salem market. I expect it to be stronger than last year. But no one can predict the future, so don't hold me to it ! But it is refreshing to see a positive news article.
Stable Market Does not Mean We are Out of the Slump , Yet
According to Richard Manning, an appraiser here in Salem, "values have been trending towards a decline since August, but only about 1% and the outlook is good for this market. We just have a huge inventory to burn off. With interest rates lower and the Spring-Summer buying season coming up, it is possible to see some continued stablization here in this market."
According to Richard Manning, an appraiser here in Salem, "values have been trending towards a decline since August, but only about 1% and the outlook is good for this market. We just have a huge inventory to burn off. With interest rates lower and the Spring-Summer buying season coming up, it is possible to see some continued stablization here in this market."
March 21st 2008
Wow, what a listing! check this out: Priced right and worth every penny !
$ 424,900 - four levels - I would not be surprised if this house did not get a full price offer, yes, even in this market !
$ 424,900 - four levels - I would not be surprised if this house did not get a full price offer, yes, even in this market !
" View. Gorgeous custom designed & built home prime location South. Terrific floor plan. Oversized double garage. Private master suite. New cement siding in 2005. Many other updates. Home has had TLC. Lovely yard with hot tub. Refer addendum for more details of this special home. view pictures and info > MLS # 590904 - I will show this home by appt: 503-302-2333.
There continues to be a warming up of the market as we are seeing more buyers getting serious and out looking at homes, open houses, web sites, and searches. More articles have come put on Salem and the national attention is welcomed. It's nice to have a micro-market here that deserves some special attention. Stay tuned.
February 11 2008
February 11 2008
Salem Receives Ranking as # 2
in Top Ten Real Estate Markets.
in Top Ten Real Estate Markets.
wow - what an endorsement, and not the first one to come along.
Founded in 2004, HousingPredictor provides independent real estate market forecasts for local housing markets in all 50 U.S. states with the goal of providing unbiased housing market forecasts and real estate news for our loyal visitors.
They examine more than 20 micro market characteristics in each market place, including income levels, employment trends and changes, school enrollment, business trends, regional political influences, real estate sales history and current housing market velocity. The factors are all considered to come up with each local market forecast. All of the information is gathered from hundreds of independent sources the staff develops without bias for the real estate industry to issue the forecasts. see full report link on my home page - http://www.realestatesalem.com/
January 27 2008
New Listing - 3500+ sq ft , .54 acre in West Salem Hills, MLS # 590241 Seller will entertain all offers between $ 519,000 -$598,876. (PVRM) Prudential Value Range marketing - a unique pricing strategy that benefits both buyers and sellers. This is a Beautiful home, completely remodeled/rebuilt in 2005 (originally built in 1978). View details >
New Listing - 3500+ sq ft , .54 acre in West Salem Hills, MLS # 590241 Seller will entertain all offers between $ 519,000 -$598,876. (PVRM) Prudential Value Range marketing - a unique pricing strategy that benefits both buyers and sellers. This is a Beautiful home, completely remodeled/rebuilt in 2005 (originally built in 1978). View details >
January 24 2008
The new real estate year is starting off with a lot of activity as I am writing offers and taking listings. There seems to be a shift in the Salem market. Maybe we have hit bottom or have already turned the corner here. It feels like it. The media effect of the doom-and-gloom-sky-is-falling compounded an already serious situation in the mortgage and real estate markets. Since we did not have over-speculation in our market, we seem to be more stable here and people are seeing the values of living in the Northwest in general, and Salem in particular because of the central location and good real estate values. Oregon has one of the lowest foreclosure rates in the country and is the second most popular state to move to. Go figure. I moved here from Chicago seven years ago, and I am originally from California. I love it here and there is so much geographical diversity to explore - the Oregon Coast, the Cascades, the Columbia Gorge, wine tasting throughout the Willamette Valley, and Crater Lake.
The Portland-Salem Green Connection
Portland is going through a major renaissance in building, urban renewal, and is the leading green city in the country. There is a new magazine, a spinoff of Portland Monthly, titled Portland Spaces, and the first premiere issue has two articles of relevance here: "Urban Uprising" (urban renewal of five Portland neighborhoods) and an article featuring Oregon's most sustainable new development - Pringle Creek - right here in Salem. Green is now "in" and Oregon has already been there. Salem's Pringle Creek development is a 32 acre environmentally advanced master plan that includes geothermal heat, passive solar, 85 per cent of standing trees preserved, and 30% of the land reserved for parks, plazas, and natural habitat. Portland architect James Meyer sees Pringle Creek as a "living laboratory of green design". There is a greenhouse and community gardens with a crew of volunteer gardeners who donate to local food banks. A biodiesel cooperative - called "Flower Power" - already has sixty members. The medium and small scale homes are designed to be up to 75% more energy efficient than standard homes. All the streets are composed of highly porous concrete and asphalt that will cleanse and send all rainwater back into the aquifer instead of city sewers. A town center will have shops and other amenities. More info? Email me
The new real estate year is starting off with a lot of activity as I am writing offers and taking listings. There seems to be a shift in the Salem market. Maybe we have hit bottom or have already turned the corner here. It feels like it. The media effect of the doom-and-gloom-sky-is-falling compounded an already serious situation in the mortgage and real estate markets. Since we did not have over-speculation in our market, we seem to be more stable here and people are seeing the values of living in the Northwest in general, and Salem in particular because of the central location and good real estate values. Oregon has one of the lowest foreclosure rates in the country and is the second most popular state to move to. Go figure. I moved here from Chicago seven years ago, and I am originally from California. I love it here and there is so much geographical diversity to explore - the Oregon Coast, the Cascades, the Columbia Gorge, wine tasting throughout the Willamette Valley, and Crater Lake.
The Portland-Salem Green Connection
Portland is going through a major renaissance in building, urban renewal, and is the leading green city in the country. There is a new magazine, a spinoff of Portland Monthly, titled Portland Spaces, and the first premiere issue has two articles of relevance here: "Urban Uprising" (urban renewal of five Portland neighborhoods) and an article featuring Oregon's most sustainable new development - Pringle Creek - right here in Salem. Green is now "in" and Oregon has already been there. Salem's Pringle Creek development is a 32 acre environmentally advanced master plan that includes geothermal heat, passive solar, 85 per cent of standing trees preserved, and 30% of the land reserved for parks, plazas, and natural habitat. Portland architect James Meyer sees Pringle Creek as a "living laboratory of green design". There is a greenhouse and community gardens with a crew of volunteer gardeners who donate to local food banks. A biodiesel cooperative - called "Flower Power" - already has sixty members. The medium and small scale homes are designed to be up to 75% more energy efficient than standard homes. All the streets are composed of highly porous concrete and asphalt that will cleanse and send all rainwater back into the aquifer instead of city sewers. A town center will have shops and other amenities. More info? Email me
David Brown
SalemReal Estate Broker
503-302-2333
SalemReal Estate Broker
503-302-2333
