I read about this program on the 28th of January- Fannie Mae has just announced they will be offering additional special assistance for buyers purchasing HomePath properties. Fannie Mae is now offering a 3.5% incentive for buyers who purchase and close on a Fannie-Mae owned home between January 28 and April 30, 2010. Buyers purchasing properties listed on the HomePath site that are closed within this period may receive up to 3.5% of the final sales price for closing costs or new Whirlpool appliances. Some limitations apply; properties must close before May 1, 2010. 3% down payment, No Mortgage Insurance, and no appraisal! Plus now you can get your buyers closing costs paid.  Why Whirlpool? Are they owned by the government now? 02/02/2010

BPO is an acronym I am not fond of. I do them to help that banks I represent but I got to thinking and they are not much different than a CMA for seller's. I know this may be obvious but I wonder if a BPO could be used in lieu of a CMA. Sitting with your seller's and handing them a Legal size 2 page document is very black and white. Calculations and Comparable Closed Sales and Active, but the parts that make the most impact on me is the Subject Marketability and Market Conditions. This is the real eye opener. The MLS data does not beat around the bush. Declining, Depressed, Price decrease of past year, number of REO or CORP. in the neighborhood and number of boarded or blocked homes. We want our seller's to be warm and fuzzy so we get the listing. But, a BPO is hard and calculated. Ther... 02/02/2010

The job of a home inspector is to provide the most precise and in depth information that is feasible for the time and cost.  Part of my service includes thermal imaging and it still surprises me that I am still the only inspector in Salem, Oregon that is taking advantage of this pocket ace. Thermal imaging has been an absolute game changer for the home inspection industry. About eight years ago my wife and I bought our first home in Salem, Oregon. At that time I worked in construction and I was a pretty hand dude but I knew very little about furnaces, electrical systems, plumbing and many other integral parts of a typical home. The home inspector that we hired, requested that we not show up till the end of the inspection. I didn't really like that advice so I showed up went he began hi... 02/01/2010

Despite the belief that all builders have gone under, Salem Oregon does still have some new construction occurring, although I will concede that it is at a much slower pace. We have both high end home construction and more affordable home construction occurring here in Salem.   Some home buyers relish the thought of having a brand new home.  They love the clean paint, unscratched floors, and unstained carpet.  If you are a new construction type of home buyer, you may want to consider some of these neighborhoods in Salem. This is not a completely inclusive list, but rather a sample of what we have to offer here.  In the wall strip you can view video for some of the neighborhoods that currently have new construction.   View My Videos Bella Cresta Bailey Ridge Neighborhood Holiday Ranch Co... 02/01/2010

To answer some questions- This bridge was an old train crossing and was recycled into a walking/riding bridge from downtown Salem to West Salem. Jim, this is a stock photo but I thought is had good lines. It was taken prior to the bridge is being closed for repairs? I am not sure when it will be reopened but a very cool idea from the City of Salem. This spans the Willamette River. 01/27/2010

Are you looking for a nice place to eat for lunch?  I would suggest Word of Mouth.  It is on 17th near State St. in Salem.  The food and service are always excellent.  I have only eaten there for lunch, but I have heard their breakfasts are awesome too.  I love to try shrimp salad in different restaurants and I am never disappointed at Word of Mouth.  It is so yummy.  The last time I ate there my friend chose the same salad and thought it was delicious.  She and I like to go to a different restaurant in town each time we meet.  Quite honestly I would go to Word of Mouth every time if I could!  Give it a try.  I think they are open 6-2 PM And by the way, isn't "word of mouth" how we get most of our business too? 01/25/2010

FHA is tighten its requirements and excluding more buyer's in hopes that new conditions can strengthen their finances. While supply and demand have never been mentioned in any federal building in the nation FHA looks to make things harder on Borrowers and Lenders. "Striking the right balance between managing the FHA's risk, continuing to provide access to underserved communities, and supporting the nation's economic recovery is critically important," said Commissioner Stevens. "When combined with the risk management measures announced in September of last year, these changes are among the most significant steps to address risk in the agency's history. Additionally, by continuing to provide affordable, responsible mortgage products, FHA will support the housing market's recovery. Importa... 01/20/2010

I have been tracking the sales for most of Salem and I am happy to report that SE is booming. List Price to Sales Price is a bit staggering and the top sale of 345,900 suggest the slowness of the upper end market. Courteousy of Amerititle and WVMLS. 01/18/2010

It is proven over and over that banks should not be the primary owner of homes.  Very simple tasks, like returning a phone call or turning the gas on, turn into monumental chores that very rarely get completed properly.   Recently I got the chance to inspect a bank owned property here in Salem, Oregon.  It was cool the morning of the inspection but not unusual (the high 20’s).  The bank in their infinite wisdom turned the water to the home on, for the inspection.  But……some one forgot about the heating system…… The agent, client and I walked into the home and discovered a large pool of water on the floor of the kitchen and dining room and rain falling from the kitchen ceiling! Although the leakage was awful, it was still manageable.  The water had not been there for very long and the w... 01/15/2010

The tax credit(s) are still available.  It is NOT just for 1st time home buyers.  Repeat and move up buyers also qualify!  I am providing you an easy to understand report of the tax credits. I have heard it all...  "We didn't buy in 2009 because we didn't understand it."  "We don't believe we could possibly qualify for a tax credit."  Did you say anything similar?  (Be honest.)  I am here to tell you that the homebuyer tax credit works. It has spurred market activity in the Salem and Keizer area and is stabilizing declining property values. The extension of the credit was critical to restoring the health of the housing market, which many economists have declared as the engine that drives our economy.  So let's all do our part and buy a house!  Time is running out for those that did not ... 01/13/2010

I like gauges. In my car, on the oven, clocking computer speed and now online. This gauge is a very cool one because it helps you determine what rent should be for a specific area and size and condition of the rental. I like it because it is simple. I like it because it gives averages. I like it because it is national. I like it because it works. I encourage you to try it. No, I did not receive any compensation for writing this post. I do not have any interest in rentometer.com. 01/12/2010

I would love to stop talking about foreclosures, personally. It would mean that Salemites are no longer under financial duress, but unfortunately with our current employment problems this will probably be an issue for a while. Salem Oregon Foreclosure Rates I don't think you need to be a Salem Oregon real estate agent to know that foreclosures have gone up in our area. Most of my buyers in 2009 purchased a foreclosed property. This chart shows notice of defaults that were served in Salem Oregon in 2009, according to Fidelity National Title Co. They started climbing in the second quarter and have continued to climb since then. In Salem Oregon, there were 763 notice of defaults served last year and 1673 filed this year. The math is seriously ugly on this one...119% more notice of defaults... 01/12/2010

With the decade coming to an end, so comes the massive amount of work involved in looking at real estate data.  For those of you bored to tears with real estate market reports, just mosey on along and check back at my blog in about two weeks.  It will two weeks of loads of data at this blog.  So for you data geeks...I forge on!   The average home price dropped 9.1% over last year and the median shifted downward 9.0%.  This was a good thing for the Salem Oregon real estate market as our inventories dropped as well. Read more about the Salem Oregon real estate market in 2009. 01/09/2010

  Upscale home buyers.  You know who you are.  Custom granite, quartz, slate, travertine, hardwoods, spa tub...those words are music to your ears.     Salem Oregon has some nice neighborhoods for upscale home buyers.  Most of the neighborhoods have CC&R's (Conditions, Covenants, and Restrictions) and some had HOA fees as well.  So if you are looking for an upscale neighborhood with elegant homes in Salem Oregon, these communities might be just what you are looking for.     Golf Club Neighborhoods-For those of you home buyers that want to take the golf cart out the front door, these neighborhoods might be the right ones for you. Illahe Hills Homes in South Salem Oregon Golf Club Estates at Creekside Homes in South Salem Oregon   Acreage Communities-If you are a home buyer that wants to ... 01/09/2010

There are a few things to look at when inspecting this oh-so mundane of household appliances.  If you have read my earlier posts or seen the MythBusters, you would understand that the pressure and temperatures contained in this vessel are nothing to be taken lightly.   Properly Installed Seismic Straps   The next thing I look at when I am inspecting homes in Salem, Oregon and the water heaters therein:  Seismic Straps:In other parts of the world this may not be a very important issue but  around Salem, Oregon the earth shakes from time to time.  Knowing what we know now about the bomb that is our water heater we know that we shouldn't mess around too much and expose it to rupture or other damage.  The best way to protect the heater is to strap it to the structure and make sure it doesn... 01/09/2010

There are a few important things to ensure when it comes to everyone's favorite modern bomb convenience, the water heater. In part 1 I wrote about where they should be located to prevent unwanted house fires.  Today I will discuss probably the single most important feature to ensure these tanks don't go boom! Water heaters are large tanks filled with heated water under pressure and there are a few very important safety devices that need to be just so, and anyone who watches MythBusters knows that water heaters, gone wrong, can be devastating……The next thing I look at when I am inspecting homes in Salem, Oregon and the water heaters therein is:  The Temperature and Pressure Relief Valve (TPR)This is probably the single most important safety device on water heaters.  This is a simple val... 01/08/2010

I am never too busy for your referral, but I am also a great source for referrals of other businesses.  I am happy to refer my clients to lenders, home inspectors, home warranties, repair contractors for roofing, plumbing, electrical, heating etc. I can refer you to carpet and flooring installers, accountants and lawn maintenance. House cleaning and house staging.  The list goes on and on.  For a more complete list check out my website a www.getsalemrealestate.com   01/06/2010

If you are like me you are always thinking about cell phone minutes. I often end up texting my cleints and most seem to respond positively to it. They are some though that thinks it lacks a personal touch. Is it polite and professional? Is it okay to text prospects as well? I am not a hipster cool texter that is super fast or uses acronyms but I do have some friends that won't answer the phone but instead text. Have we lost our personal touch? This profession is about PR but can we conduct business by texting and still be professionals? Foxtrot has a good spin on it. 01/06/2010

If you have ever been to Oregon or specifically the Willamette Valley you know what I am talking about. It rains and rains. Not buckets but a constant light sprinkling. And you know a true Oregon because they don't use umbrellas but hoods if that. You'd think this post might be a negative one but instead I write to remind all of us that even when we think rain is bad it is really good. We all learned in Science class that it fills our rivers and waters the crops so we have food and drinking water. Rain is alot like Real Estate. When it's raining we may not be as busy but we are preparing for the sunshine and the harvest. We are working for the payoff. Rain is also good because it shows us were we have leaks or weaknesses. Without it we can't grow and learn. I say bring the rain! 01/06/2010

Sexy, stylish, fashionable or even all that interesting your water heater is not. (unless you have one of those tankless systems, but that another blog)  Although much maligned your water heater is an important part of modern living and it really makes indoor plumbing enjoyable.There are a few things that I look for and that are important when I am inspecting homes in Salem, Oregon and the water heaters therein, on of the first things is:Where is it? If it is in the garage there are a few rules that need to be followed for safe operation.  If it is gas, the flame source needs to be at least 18″ off the ground.  This condition will apply to gas units that are more than 4 years old because we have now gone to a sealed burning unit that does not have an exposed flame.  If you can get to t... 01/06/2010