Real Estate Information Archive, Corvallis Oregon Real Estate

It's coming sooner than you think!  We signed the permits today, and the new Keller Williams building is well on its way!

The Corvallis Spring Food Drive is coming on April 17th!  Are you ready to help? 

Click the image below to see what you can do!

It's that time of year!

The blossoms are all around here in the Corvallis area and we want to create our own plant dreams.  Get out your tools, gloves and choose a fun, unique pot or container.  Go get some healthy plants.  Remember to turn your pots 1/4 turn each day to grow straight and give more water and fertilizer than you would when planting in the ground.  You might try non-traditional containers such as buckets, wooden crates, or an old watering can.  An unusual container can make a striking garden arrangement. Use several different plants together.  Use good soil and just have fun!  The sky's the limit.  Help make your home and our communities here in the Willamette Valley more inviting and your home even more valuable real estate!

Please click to see each image full-size!

Though a lot of our inventory was gobbled up before the November incentive deadline, we are now seeing more and more properties coming on the market for the spring buying season. The buyers are fully aware of the newest incentives and they are out in good numbers again, as a result, so there is marked increased activity over the past 3 weeks. We are looking at a very well-paced market at the moment and likely through spring and summer. This means values should hold their own. Corvallis remains one of the more popular areas to live in Oregon and the surrounding areas have that same influence to a degree.

2009 was filled with many peaks and valleys- more peaks for home buyers and long valleys for the sellers. Home values have even seen some depreciation for the ones that have sold. 

In a recent analysis of the market, we have discerned that the months of inventory for local homes have gone down dramatically for the Corvallis area and we are now in a more balanced market, instead of a buyer's market in the lower price ranges.  During the winter, the number of homes on the market goes down normally and with the recent incentives, there have been more buyers picking up the inventory there is. It is a good time to bring your home on the market.  I can give you updated information about your specific home and its marketability in today's market.

Here’s an interesting tidbit that you should know: With  homes that have had their main lines inspected visually with a camera snake, there have been many issues. Collapsed lines and major obstructions are a few.  Whether purchasing or  occasionally experiencing backed up lines, you would do well to have your lines visually inspected.  It costs approximately $125 but can save you money down the road by knowing the real issue lurking beneath the ground.

For a great money saving coupon from one of our Business Partners, American Rooter, e-mail me thesuelongteam@kw.com. 20% Savings on Visual Line Inspection! 

Wonder how we are doing in our area compared to last year?  Here are the answers in a nutshell:

Our average days on market have gone up by about 12% from last year so it’s now more than 5 months

The average price in Benton County has gone down by about 2%.  This is less than most other areas in our MLS and reflects the fact that we are selling more lower priced homes rather than prices being down by that much.  Prices are down by more in the higher price ranges ($350,000 and up) and less in lower price ranges (up to $250,000).

New construction sales are at 44% of last year.

Total sales in our MLS are down by about 29%. 

People are now financing more using government backed loans such as FHA and VA  as well as more owner carried contracts.

Q: What is going on in the mortgage market today?

A:  Things are changing rapidly.  You can still obtain loans at 5% or 10% down.  But the lenders are looking very carefully at the appraised values and your credit scores on these higher value loans compared to if you put 20% or more down.  Underwriters have much more stringent requirements for the appraisers and comparisons that they can use to evaluate properties.  Many of the loan programs are changing and some have been discontinued so there are more limited choices of loan types to fit a buyer’s needs.  We will likely continue to see changes until the banking industry stabilizes.  In the meantime, this is a great time to buy with interest rates below 6% and sellers are VERY MOTIVATED!

Q: We are leery but want to pick up some rentals. Is this a good time to invest?

 A: In making your decision consider that interest rates are still low, inventory is up and sellers are eager. You may be more likely to find more motivated sellers willing to buy your interest rate down or pay some of your closing costs. This can be a win-win as they are then able to move on with their plans as well. If you would like to learn more, contact us about attending an upcoming real estate investment seminar. We have  lender, escrow, and 1031 exchange experts on hand. Enjoy hearing some basics on pros and cons of investing now. Call us at 766-0262 for more info.