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5250 Parker Court

Conrad — Fri, 03 Apr 2009 23:32:27 +0000

Happy Friday! This week has been incredibly busy, what a blessing! I wanted to get a second today to put this post up to spotlight a new listing in south Salem. I’ve personally seen the recent improvements and am absolutely blown away by the beautiful place. If you have a moment check out the link www.5250parker.com. If you’re interested call James Hauge @ 503.510.4005.

Bosie Cascade Building Completely Demolished!

Conrad — Fri, 13 Mar 2009 23:34:48 +0000

The Bosie Cascade “Triangle Building” is now completely demolished. Each day on my way to work I could see the demolition progress. Today I snapped the final picture showing only a pile of stone. I’m very much looking forward to the future of this site as it will greatly improve the downtown neighborhood.

Increased Home Buyer Tax Credit

Conrad — Thu, 05 Feb 2009 07:29:46 +0000

Today the US Senate advances the new Stimulus Bill which includes an increase in the current home buyer tax credit. Currently a home buyer purchasing a home from April 2008 to July 2009 may be entitled to a tax credit up to $7,500. Currently the credit is to be paid back in increments of $500 each year thereafter. The new Stimulus Bill proposes an actual tax credit of 10% of the sales price with a maximum of $15,000. This provision may rid of the requirement to repay the credit, making it a true benefit for the home buyer.

In the article Senate Advances Tax Breaks for Homebuyers, Senator Johnny Isakson said,

“We do have a history in this country with housing and it goes back to the crash of 1974, which actually in terms of inventory and price declines was comparable to what’s happening now”.

“Within one year of the inception of that tax credit, two-thirds of the available inventory that was on the market was gone. The market moved back to a balanced inventory, values stabilized and things became very healthy. The only reason I know all of that is I was selling houses in 1974, that’s what I was doing to feed my family and make a living.”

The Stimulus Bill that was passed by the house last week will be reconciled with the Bill passed today and may have a final approval as early as Thursday February 5th.

Stay tuned for more information regarding this tax break. Rates are still great and inventory is beginning to move again!

Existing Home Sales Rise Unexpectedly

Conrad — Mon, 26 Jan 2009 19:03:07 +0000

A report of existing home sales showed an unexpected rise in December. Purchases grew 6.5% at the end of 2008. As foreclosures have forced existing home sales down throughout most of 2008 it was nice to see a gain on board.

2009 is setting up to be another recording breaking year. Hopefully we’ll see more positive news than in 2008, but with so much on the line it’s tough to say which direction it will go. The sign of rising exisiting home sales shows that people are beginning to take advantage of the amazing purchase opportunity at hand.

Make sure you’re prepared to take advantage of the opportunities at hand!

Remember, opprtunities are never lost…someone will take the ones you miss!

Happy Monday!

2008 Willamette Valley Real Estate At A Glance

Conrad — Thu, 22 Jan 2009 19:52:48 +0000

With so much media attention on the economy and real estate markets in 2008 I am asked daily by clients what the current home values are in the Willamette Valley. As a loan officer real estate values play a very important role in opportunity to work with a client, regardless of whether it is a purchase or refinance. I do my best to use available resources on each and every inquiry and conversation I have with a client. We’ve all heard the doom and gloom of what the media has to say about the real estate market in the U.S., but it’s very important to focus on the Willamette Valley when we’re talking about our own homes.

Home values in the Salem/Keizer and surrounding areas did see some decline in home sales prices in 2008, but if we look at the big picture, we have to be thankful for where we stand. The majority of the country has experience even greater declines in value. I have included the statistics from Willamette Valley Multiple Listing’s December year-end report. West Salem and South Salem had the largest decline in average sales price in 2008. With so much new construction in the last three years those neighborhoods still have a substantial amount of new homes listed for sale therefore making it a great opportunity for those looking to purchase. Keizer showed a small percentage of appreciate in 2008, mainly due to the law of supply and demand.

Great Rates, Great Prices: What More Can You Ask For?

Conrad — Mon, 08 Dec 2008 16:21:12 +0000

Many of you heard that mortgage rates were good last week. Many of you also heard that rates may go even lower. The fact is that last week rates were great and today the trend has followed through on this chilly Monday morning. Rates actually held a trend around or below 5.5% for the better part of 7 working days. In the recent market a steady trend of anything is unexpected. The announcement of the Treasury willing to buy additional mortgage backed securities was the cause of our low trends. The short term future of rates is still something that cannot nor should be forecasted. The market doesn’t allow us to follow traditional trends and driving indicators of where rates will go. With that said, it is better to take advantage of an opportunity of already low rates when you can rather than waiting for something that may never happen.

Great prices, yes, I say great prices. As I’ve said numerous times, we’re fortunate to live in the Willamette Valley where we haven’t seen too drastic of a drop in home values. However, there is enough inventory currently on the market to offer an amazing opportunity for anyone thinking about buying a home (regardless of whether you are a first time home buyer or a seasoned veteran).

The key to success in this market is understanding that now is the time to take advantage of each of these opportunities at hand. If you wait for the rates to drop even lower or the prices to fall even more, you’re likely to miss the boat.

If you need help finding the starting point call or email conrad(at)conradventi.com today.

Opportunity Knocks

Conrad — Tue, 28 Oct 2008 00:30:46 +0000

I mentioned in my post on Friday that the report for US existing home sales came in higher than expected at a gain of 5.5% over 2007. The number is encouraging considering the current state of the economy. According to Willamette Valley MLS, local home sales prices are showing a small decrease of 2.5% from 2007. With a gain in home sales and a small decrease in value, the numbers show that people are beginning to take advantage of the opportunity at hand.

With the financial markets trying to find some direction and the government’s intervention into those markets, we have obviously entered into an economically unstable time. Although times like these make it easy to point out the obstacles for each of us, I think it is more important to find the opportunities.

We are fortunate to live in the Willamette Valley where home sales didn’t appreciate at too abnormal of a pace. We are still greatly affected by the downturn of the real estate and mortgage market, but the recovery will be much less painful than those in areas where values were ridiculously abnormal. Opportunity is knocking for first time home buyers or those looking to start an investment portfolio. Although, it is not the best time to think about upgrading your home (simply because you won’t maximize your investment on your current residence), it has never been a better time to buy your first home or investment property.

Many have the excuse that financing is not available, however, that can be overcome with education and planning by a knowledgeable resource. With a plethora of homes currently on the market in the Willamette Valley, values are competitive and sellers are motivated. New construction is also an area of opportunity. Many large builders in the Salem area put their efforts into 50+ unit subdivisions. Unfortunately, much of the commercial financing used for construction is longer available. Builders too are motivated, making yet another opportunity for someone looking to purchase.

If you want to discuss opportunities that may be at your finger tips please don’t hesitate to call or email conrad@conradventi.com.
Don’t forget that opportunities are never lost…someone will take the ones you miss!

Salem Oregon Housing Market Still Has Hope!

Conrad — Thu, 16 Oct 2008 00:11:50 +0000

The real estate market across the country has had so much negative media lately that it is rare to hear anything positive. With depreciation of home values at the top of the list it is hard to know how to have perspective on the information fed to us daily. The Salem housing market obviously benefited from the housing boom in recent years – seeing double digit appreciation. Fortunately, the appreciation numbers were not too abnormal and now the benefit shines through the negative attention towards the market.

I read in an article today at www.housingpredictor.com that Salem, Oregon is the 2nd hottest housing market in the US. Housingpredictor.com places Salem in the 2nd position for forecasted appreciation in 2008 at 4.7%.

Although we’ve definitely noticed a slow down in real estate sales in 2008, it is important to keep the news we hear in perspective. Now is a great time if you’re looking to purchase your first home or an investment property!