TREVOR ELLIOTT'S THOUGHTS ON REAL ESTATE

What 13.1 Taught Me!

2011-05-23T14:03:00.001-07:00

I did it! Keizer Iris Half Marathon to be exact! So what, you may say, lots of people have. True you are but it taught me something.

Around mile 9 my body hit "the wall". I was not out of breath but my legs were out of gas and they did not listen to me anymore. I told them to move faster but they didn't. I told them to pick up my stride but they didn't. People started passing me that I had passed in miles 5 and 6. While I was running I thought about how my body has limits. I am young and somewhat fit but my body does have limits.

The silver lining is that even when you realize that body or mind or life has limits -Limits can be broken. My legs slowed but my they kept moving and got me to the finish line. I didn't walk and I didn't stop.

My goal was to run it in 2 hours. Never running this distance before - 2 hours was a lofty goal but as I crossed the finish line at 2:00:37. I made it! Well, almost!

Push past your limits! Even if it you think you can't just keep moving and do it at your own pace. My shirts says it all "SPEED KILLS".

Salem Real Estate Values

2011-04-25T13:42:00.000-07:00

Just for fun I went to zillow.com to see what home values have down in the last ten years. Fun may not be the best descriptor for the perceived value that home owners have lost. My first house road the roller coaster up as I bought in 2004. I sold in 2008 and made a mint. My next home bought simultaneously has plummeted ever since I bought it but I plan to stay.

If will reading this you tear up or find that your are ready to sell give me a call. I am great at listening (sobs to moans) but also great at helping determine what is best for your real estate holding. If you would like to add to your portfolio call me too.

503 602-103nine

RE/MAX Equity Group

1860 Hawthorne Ave NE

Salem, OR 97301

HUD homes are some of the best values in our market right now. They are be listed and sold daily. Give me a call for a list of HUD HOMES.

EARTH DAY! BE KIND TO IT!

2011-04-22T10:39:00.000-07:00

Like many holidays we take a moment to reflect on love, thanksgiving, earth, Jesus' Birth, Veterans and Spooks in the night. Often it is short lived but why not think about Earth Day more than just today.

I drove to work today and I used some electricity for a shower and to make my breakfast but I want to be more conscious of what I am doing to recycle, reduce and reuse.

If we all do one small thing it can make a huge impact. Buy that annoyingly loud bag of SunChips or ride your bike to work.

Not to be overly cheesy to quote Captian Planet, "The Power is Yours!"

Spring is Sprung in Salem

2011-04-20T11:04:00.000-07:00

It is that time again when the OCD in me screams spring cleaning. Finding the time however is a little more difficult. Here are 6 Worth-the-Price Fix-Ups that require cleaning and fixing up your home that don't involve hiring Amelia Bedelia.

1. Clean Up your Act. Remove any unused items, declutter countertops, organize shelves and closets, and make the home sparkling clean.

$50 to $200 Cost for tubs to store in the attic or garage
Make $20 to ? selling it on Ebay or CL

2. Brighten Up. Clean all windows, replace window treatments, update fixtures, open the windows.

$250 Cost for new stuff or paint to renew old light fixtures or curtain rods.
Make $20 to ? selling old stuff on Ebay or CL

3. Stage It. Rearrange stuff, get new accessories and furniture to enhance not crowd rooms and play some music.

$200 Cost look on CL or borrow from a friend
Make $20 to ? sell it

4. Go Green Thumb. Curb appeal please! Do all maintenance you have been neglecting and bring in some new plants and mulch. Flowers on the porch invite!

$200 Cost

5. If it Broke, Fix it! Go around the home and make a list of what needs to be repaired and get on it. Call Amelia if you need help with this one. Don't tell her to "weed the garden"

$? Cost

6. Floor it. If it is worn out replace it. Carpets need cleaning too. Look for coupons or ask for referals from friends.

$200 to ?

7. Relax. Call your Friendly Neighborhood Real Estate Agent and invite him over for a bbq.

This post was inspired by 6 Worth-the-Price Fix-Ups in Realtor Magazine April May 2011

RE/MAX equity group has new Managing Broker

2011-04-12T10:57:00.001-07:00

George Grabenhorst is the new Managing Broker for RE/MAX equity group, Salem Business Center. George brings a wealth of knowledge and experience. A lifelong Salem resident and 4th Generation Real Estate Broker this is not George's first rodeo.

George is the Salem Association of Realtors President and sits on many boards as well as coaching track and officiating Football.

Welcome George and we look forward to his leadership and enthusiasm.

Dissmal Days Are Over!

2011-04-05T10:51:00.000-07:00

The internal optimist in me says "look how far we have come!". Here are a few stats to remind you why we live in a great nation and in a great time.

Roughly 90% of the states have added jobs during the most recent 12-month period. Formely, every state had dealt with recession at some point during the past three years.

The upward "mobility" of the typical American remains the greatest in the world. Why? The U.S. economy "rewards" the combination of hard work and educational achievement more than ever before...and more than any other country in the world.

Average U.S. life expectancy has reached 78.2 years (men 75 women 80), the highest ever. This compares to 76 years in 1995, 68 years in 1950 and 47 years in 1900.

The list goes on and on but this is a great time! Live it up!

HUD Homes Tips and Tricks

2011-04-01T10:09:00.000-07:00

If you are like me before I make a purchase of $25 or more I do some research. I start with Craigslist and then Ebay. I look at online retailers. I do a appraisal of sorts to see what the item I am considering purchasing is worth. I look for coupons online in the effort to save a buck. I read reviews about products. It is the thrill of the case.

HUD homes or homes owned by the Secretary of HUD (Housing and Urban Developement) are homes that a inline with my shopping habits. No, there aren't coupons. No, they aren't on CL or Ebay but they can be bought at huge savings. How, you might ask, is a secret that only a select few know about. What kind on savings? That varies too, but for those of us who know the system we save our buyers and investors lots of money.

The beauty of HUD homes is that they come with a appraisal already completed. So if you are finacing the home you don't have to worry about an appraisal fee ($450). Or that the home value is inline with market.

Last year I sold a home in Keizer that was built in 2001 and is 2500+ square feet. It appraised for $250,000 originally and then dropped to $225,000. Yes, it needed some cosmetics but it became a great value for my buyers. They bought it for $189,000 and HUD paid 3% of that for closing costs to them. Wow, is right, but these are the deals I am referring to. Good Homes, Great Deals, Best Broker ever, Right? Well, it was not me as much as my knowledge for HUD.

Contact me and we can talk about getting a deal for you! There are 30 Hud homes in Marion County as I post this blog.

REAL ESTATE Statistics for Jan. 2011 SALES!

2011-03-30T11:33:00.000-07:00

2010-05-12T09:51:00.001-07:00

Just learned some very cool things from Kyle at Salem Chamber. Contact me and i'll share.

2010-04-02T12:47:00.001-07:00

Thanks for all the birthday wishes. Jacque and I are going to edgefield (mcmennamins) and maybe golf tomorrow.

2010-01-28T11:24:00.001-08:00

Do I get royalties from apple because I have been calling my ipod an ipad for two years?

2010-01-27T13:23:00.001-08:00

Only 3 + hours till group power. Hoorah

2009-11-17T10:01:00.001-08:00

I met Representative Kevin Cameron at Realtor day at the capital. He is now following my tweets. Who says politicians are out of touch?

2009-11-05T10:22:00.001-08:00

Ate at christo's on broadway last friday. Pizza is amazing and I am still thinking about it. Check them out.

2009-09-25T11:11:00.001-07:00

New listing on Ratcliff in south salem. Total remodel. Check it out at eteamremax.com

2009-09-24T10:32:00.001-07:00

On hold with loss mitigation. Short sales are long sales

2009-09-22T11:16:00.001-07:00

One of listings got an offer after one day. The 8000 tax credit is working. Time is running out. Make ur offer before October15

2009-09-04T09:48:00.001-07:00

I am sad about U of O's defeat. Well if u know me you know that I am being sarcastic. Beaver Nation Forever!

2009-09-04T09:44:00.001-07:00

Golf is in my future. Any takers?

2009-08-24T11:15:00.001-07:00

Golf today...would be nice. Instead The Meridian 1 to 4. Come see how you can lease luxury

2009-08-17T14:07:00.001-07:00

Forbes.com says Salem, OR is #4 for best housing markets to buy in. See, I wasn't making it up

2009-08-13T14:08:00.001-07:00

At The Meridian. Now Leasing 10 units. First come first serve. Very sweet deals.

2009-08-05T10:14:00.001-07:00

First person that answers gets a dollar. What is a 1031 exchang?.

2009-07-30T12:06:00.001-07:00

Just listed Matt and Tami's house. Check it out @ www.wvmls.com then type mls# 615301.

2009-07-21T11:09:00.001-07:00

Looking at changing home prices in the top 100 metros. For Tim Lewis bakersfield peaked in 2007 down 34.89 %.

2009-07-09T13:11:00.001-07:00

I have a new tool for buyers driving around looking at houses. If you find one without any info call 503 3715200. Then enter address #. It will prompt you.

2009-07-08T11:11:00.001-07:00

Just became a zillow superstar. I knew I was great at something

2009-07-08T09:51:00.001-07:00

At the office. Looking for a buyer for my listings. See them at eteamremax.com

2009-06-28T00:13:00.001-07:00

Camping at detroit lake in 12 hours. Should be good times.

2009-06-26T13:06:00.001-07:00

Taco del mar is good. Walked in and smooth criminal was playing.

2009-06-26T10:07:00.001-07:00

Placing ads for statesman journal. OPEN HOUSE. Sad about Jacko

2009-06-25T14:01:00.001-07:00

Trevor is not sure.

2009-06-25T13:47:00.001-07:00

Can I help with your real estate questions? And, no it is not as bad as the media portrays.

2009-06-11T10:51:00.001-07:00

What do REAL ESTATE and social networking have in common?

REALTOR Day at the Capitol Salem Oregon Real Estate

2009-03-05T10:40:00.000-08:00

I was recently elected to the Salem Association of REALTORS Board of Directors. Beginning my service has opened my eyes to the many facets of Real Estate as well as what the association does. Because of this I thought it was my duty to attend REALTOR Day at the Capitol.
Past years attendance been around 200. Oregon Realtor Membership is around 16,500. This year we represented with 600 REALTORS from all over the state. Amazing numbers and the largest number for any trade orginazation in the state.

What kind of impact does that make on our Senators and Representatives? Well, it shows that even though the market is struggling we are pushing for more affordable housing for our clients, we are opposing a transfer tax that would cost buyer and sellers additional funds.

As the voice of our industry and our clients we owe it to Salem Oregon Real Estate. One thing I took away from the day is that with each new bill comes new confusion and often without a constituant's voice or a citizen speaking up our Representatives and Senators don't know the issue. Don't assume they do.

I am proud to say I serve this community. I am proud of my fellow REALTOR members and I have a new found respect for many of them.

From Log Home To Blog Home!

2008-10-28T14:24:00.001-07:00

I have had a very good year in Real Estate. Amidst the mortgage melt down and now the onslaught of media abuse, homes are a commodity we will always need.

Tim and Kori Lewis are seeking the joys of home ownership. A very cool couple that are level headed and good money managers. So we found the house, made an offer and got it accepted. Typically buyers would call their families and friends. I am sure they did, but today I was looking at my iGoogle and I saw a new post from Tim's Blog "New Home".

Tim and Kori have blogged about their home purchase. Kori posted pictures, evidence that we are living in a very cool time. What better way to share with others what is going on in your life. I think it is very cool.

Tim also gave me a shameless plug, but the coolest thing is there is no limit to what we as a world can share. I admit it feels pretty good to be part of that.

Football and Fall Home Maintenance!

2008-10-16T10:20:00.000-07:00

Maintaining a home seems to be a never ending project. However, homes that are well maintained in the end will help you maximize your investment. Fall is the best time to check rain gutters and down spouts for clogging or leaks. Also you want to make sure the water drains away from the house. Studies show 90% of mold is caused by water intrusion. Also, a roof can collect as much as or more than 300 gallons of water after a rain that can end up under and around the house if not properly drained away from the house.

Oregon is known for moss often found on the your roof. A simple application of “Moss be Gone” (found in building supply or hardware stores approximate cost $9) Best applied each season and sometimes twice in the beginning on the crown of the roof so when it rains it will naturally run down the roof, killing moss.

Decks and railings made of wood are asking to be cleaned and sealed with a good water proofer or stain.

Remove excess leaves and damaged branches surrounding the house. Now that leaves have fallen off of trees, it's a good time to remove any dead branches. Dead branches have the potential to break and fall, ruining roofs or decks. On the inside Check your heating system. Check the filter, pilot light and burners in a system fueled by gas or oil. Fireplaces, boilers, water heaters, space heaters and wood burning stoves should also be serviced every year. Clean ducts in the heating system. Clean and vacuum dust from vents, baseboard heaters and cold air returns. Dust build-up in ducts is a major cause of indoor pollutants. Test fire and smoke alarms as well as carbon monoxide detectors. Often alarms and detectors go unattended. Batteries should be checked every six months to ensure that they're working.

Not sure where to start or how to do some of these maintenance tasks. Email me. I am happy to help or I can put you in touch with some contractors I know and trust.

As for Football it has been a very weird season thus far. Go Beavs!

A theory of Mine? What do you think?

2008-09-29T10:55:00.001-07:00

A couple years ago I thought about something. I have look at a lot of stats from my MLS, but could not conclude if I was correct in my thinking.

Here goes. Inflation or appreciation in homes consist of many factors. One factor I thought was artifically inflating home prices was 100% financing. I am sure you know the scenario. Your buyers go to the lender and you find out that they don't have any money. Well maybe at least earnest money. That's okay, 100% financing. You show houses, find one and you write it up, for full price plus 3% for closing costs. Full price because the market is hot and this one is going to sell fast. The seller's mutually accept. Life is good, Right?

Apprasier comes out, and says okay I can find some comps to fit this. How though. It is a domino effect, the comps did the same thing. One starts and they all topple. Have you ever experienced this?

Am I crazy or is this plausible?

Golden Age to Dark Ages

2008-09-25T15:46:00.000-07:00

When I started in Real Estate it was the "Golden Age". Phones rang, buyers looked, multiple offers came, lenders loaned, sellers sold and life was good. After 4 years I have seen a lot. Today is a whole new age. Granted we have very low rates and now homes are more affordable than ever but what happened?

Credit is good, but does it become a false sense of security? When everything is bought on credit who ends up paying. The banks do. But what happens when the banks aren't paid? Well then the feds buy them. Where does the fed get this money? It is a trillion dollar question? Ultimately, it is you and me, joe and jane taxpaper.

Is this right?

An Easier Way to Search!

2008-05-01T15:10:00.000-07:00

Working by Referral!

2008-05-01T10:08:00.000-07:00

Most of you know I have changed the way I do business. For years I was in the prospecting race. Looking daily for new clients to serve. Now my business is built by referral and it has been awesome to see how my past clients, friends and acquaintances have supported me.

This past two weeks have been exciting. First I got a call from Andy Stone and long time friend. Andy mentioned he had a friend at work that is looking to buy in the next few months. About a week later I was doing some median cleanup in West Salem with my others from the church I attend Soma and neighbors of Dwayne and Julie Hilty, Nate and Melissa, Nate's Dad and Mom want to move to West Salem.

Take a second and think about how many referrals you give out in a day. Someone might ask "I love your hair! Who did it?" What about the movie you told all your friend to go see. Real Estate is a little different but when you know or work with someone that provides professional and reliable service would you refer them?

Do you have a Real Estate Professional that you refer to others? If you don't I would like to be that Referral Source for you. Be assured that I will treat your referrals with the highest level of service.

The easiest way to refer me is to tell your friend, family member or co-worker that Trevor will be calling you.

Thanks for your support, Trevor

Busy in a Bad Market?

2008-03-06T10:58:00.000-08:00

I have not had time to post for a while as I have been very busy. It is true buyer and sellers are still out there looking to buy and sell. Even with all the Negative Press about how bad the market it people still need housing. There is always going to be people moving, downsizing, upgrading, tranferring or just changing scenery.

I have had the pleasure of working with some great clients. Dwayne and Julie Hilty bought a great home in West Salem with the dream of entertaining friends and family and also serving the need of West Salem's Edgewater District by planting a church called Soma. There home is the temporary meeting place for Soma and serves as a hub for their connection to this community. The home was sold by owner and I represented the Hilty's and enjoyed it.

Selling 7 homes as FSBOs that is FOR SALE BY OWNER, I have learned a great deal. I understand the need for some seller's to sell themselves to save the commission but in this situation I felt bad for the sellers. At the closing table the Ecrow officer presented the sellers with a settlement statement showing there credits and debits and most importantly their bottom line. Upon review they came accross the words I cringe at "Pre-Payment Penalty". The saw a $3000 penalty for not waiting two years. I think if they had an agent they would have know about that penalty and saved a lot of work and money.

Brian and Julie Mohr transferred from Denver and were looking a unique home to remodeled. Julie is very experienced and sounds like she has a good grasp of every facuet of home remodel and repair. They found a very nice home in the a Historic District off Center street. Not first timers but were able to sell their home is Denver and walk away with a healthy amount they saw took a hit on their home there but new it was time to sell.

Tyler Everson a first time home buyer found a great new home in West Salem with all the ammenties of new construction. Seeing a good price for the builder he was able to get 3% off the price for closing costs. Something that is not often seen in new construction but now a reality in this market. Funny story though was I called him a couple of weeks after closing to ask how the house was. He told me he had been freezing in the master bedroom at night. The builder came over and looked at all the vents to make sure they were connected. The found an 11 degree difference from the rest of the house. They could not figure it out until they went up in the attic and notice the insulation was not blown in over the master bedroom. Tyler is sleeping comfortably now. It just shows the importance of an inspection which Tyler had, but the inspector missed and the importance of insulation.

Alex and Cassie Rugh also first timers bought a new home is Albany. A large single story with a great price. After closing they had not moved in for a week and I found out that Alex did not want to move in until the Curtains went up. I remember that from my house. One of our neighbors came over and said you guys need for kitchen blinds.

Is the market as bad as they portray?

Opportunity Knocks!

2008-01-09T14:00:00.001-08:00

More and more buyers are seeing this is the time to buy. Take for instance the one of my first time home buyers. After looking for a while at existing homes we looked at new construction. Ultimately it was the right fit for this buyer. Being around new construction and buying my house new I was sure that only a full priced offer would do. But after seeing some other deals work I thought it would be worth a try and we were right. I can't disclose what we offered and what we got, but the old school thought of seller sticking to their price is no longer around.

Another buyer of mine say a similar reduction in the purchase they made. It goes back to the idea of supply and demand. If they are out of whack then reductions happen!

I have talked with some clients lately and they have told me that they want to wait and see. Unfortunately that it not the best idea right now. We all now that home will always be necessary, people will move, grow, downsize, retire, invest. Know is a good time to do just that!

Are we Late to the Real Estate PARTY?

2007-10-10T12:59:00.000-07:00

For any of you that use Zillow.com you may have seen a graph like this before. This one is from my Mom's house up in Portland. She is considering selling after 10 happy years there, but I though the best thing about this graph is it illustrates Real Estate is the US, Oregon and Portland and Specificly her house.

Before I tell you which line is which ask yourself if your home has experienced the same thing. The Dark BLUE line is here home. Since Jan 03 see has seen great gains. The light BLUE is Portland specificly her zip code in Garden Home and SW Portland, right by Washington Square. The GREEN line is Oregon as a state average.

So what about the Yellow Line? You may have guessed the USA. Look carefully at what this line does. It peaks and valleys and then peaks again. We are late to the party. Always have been always will be. The good thing however is we can use this to our advantage. If we look at what is going on in the US we now what to expect in the coming months.

Buyers it is time to buy. If not this month then next month. Sellers stop think about the past and start looking to the future. Your equity was never really cash in your hand don't expect it to be.

I encourage you to try this on your own. Go to www.zillow.com type it your address. I hope you see good things.

1556 Brewster Ct SE Salem

2007-09-24T10:14:00.000-07:00

This is the time to Buy!

2007-09-20T10:56:00.000-07:00

Over the last three months the Real Estate Market has changed. Mortgages have become increasingly harder to qualify for and home prices have cooled due to the vast inventory of homes for sale. This fluctuation has caused the supply and demand curves to become unbalanced. This unbalance along with foreclosure rates have made America fear the worst. Days ago the Fed lower the discount rate making interest on new loans more affordable. The idea is to boost sales by offering loans more cheaply.

The last four years interest rates have been at historic lows and continue to stay that way. I feel there are three undeniable reasons why today is the day to buy Real Estate. First, Interest Rates are low. If you understand how our world economy works then your are smarter than most everyone. Logical Wisdom says that rates will some day rise to match inflation. Secondly, Loans may be harder to qualify for but today, yes today sellers are wising up and saying, I will carry a contract - loan that the seller gives to the borrower at set interest for say a minimum of 5 years. So even if you do not have 5% or 10% to put down the seller's see this need and are ready to help. First time home buyers will benefit most from this because they may not have the money to put down. Lastly, with the increased amount of inventory on the market sellers are wising up to the fact that they have to be different than their neighbor. How do they do this? They sell at a better price or they make concessions for the buyer.

Buyer's have a lot of leverage in this market. They can set the price they want. They can get concessions from the seller and if they can't qualify for a traditional loan with money down, then they can walk down the street to the other seller and see if he takes it.

In my past two deals with buyers I have seen these advantage. Chip offered 5% less and asked for closing cost and the seller jumped at the deal. Raul offered $8,000 less and the seller jumped at that deal too. A year ago if an offer was made to the seller the seller would have laughed at us.

Beg, Borrow, or Steal a good deal because today is the day to buy a home.

I have devised an action plan if you do not know where to start.

1. Call me, Trevor Elliott 503 602-1039 and just simply tell me you are wanting to start the process.

2. Call one of my three lenders. In no particular order. Get Approved for what you can.

Dolly Davis, National City Mortgage 503 566-3035 - 26 years experience. Banker with programs that can meet or beat banks and mortgage brokers

Greg Bolton, Wells Fargo Home Mortgage 503 881-3323 - 10+ year experience. Big Bank with many programs and lot of backing.

Nathan Knottingham, Professional Mortgage Corp. 503 581-8100 - new to business. Access to many programs - Mortgage Broker

3. Call me up again and tell me what you found out and schedule out first meeting.

4. Meet with me. Based on your needs in home I will create a list of homes to look at.

5. Negotiate for the house you want. I will present the offer to the seller and we will negotiate a way for you to own the home.

6. Close on the home and move in, tell your friends why they need to buy too.

If you would like to get started with my action plan email me. telliott@equitygroup.com

Understanding the Liquidity Mortgage Crisis

2007-09-05T10:56:00.000-07:00

Another day another dollar, right? No so much. Take a look at this link. It gives a very good summation for what is happening here in the U.S. as well as the world.

http://www.blownmortgage.com/videos/meltdown2/meltdown2.html

It was created for Real Estate Agents, but it is applicaple to anyone wanting to understand loan programs. The days of 100% no documentation loans are over!

September 16, 2007 2-4pm. Come by and see this house!

http://www.equitygroup.com/getagent/show.php?ecard_id=15943&aid=004601261

Golfing Reflects You!

2007-08-20T14:32:00.000-07:00

The idea behind my blog was tell people about Real Estate and everything else that randomly goes through my mind. Golf is one on those things that I enjoy going around up there. As addictive as it may be I have learn some things about myself through golf.

Golf is a true reflection of one's personality, traits and character.

Those who know me know I am pretty laid back. I don't get excited much. They also know I can get by with not trying too hard. There are however moments when I get very excited about particular things. So much that I think about them constantly and go through my day or week looking forward to getting the chance to do these things. Golf is one of these things. Particularly driving the ball. Driving is the one thing I get very excited about. I am not sure if it is because it is the longest or first shot or if it is because it is my worst stroke. Driving is the shot that consumes me. The mid range shots with irons are fun and I am okay at them and I do them with little effort, most the time I get by on them. Even the putting is not that exciting to me. I am okay at it and I except that. Putting is about speed, break and reading greens. I guess it is a little out of my control so it does not effect me the same way as Driving the ball. Driving is all about control. All I have to do it hit the ball off the tee and down the middle of the fairway, but because the club is designed for distance and not accuracy it makes it the most difficult to control. The shaft is longer and the point of contact is in front of center and so my control has these factors working against it. This must be why it seems so challenging.

My self realization of this has changed the way I think about control in life thanks to golf. It has shown me I need control and after getting some of it I can be laid back. I have even realized that if I can't get control I will educate myself or adjust to get it. This is especially true of driving the ball. I've read books, watched videos online and looked at tips to give me ideas for control. I know what to do I just can't do it, yet. And like most areas of my life when this happens I give up on wanting control and that is when I get it. My greatest teacher is humility.

If you want to understand yourself pick up a golf club and swing at a ball. Golf will reveal your character, traits and personality and it will do so in an exaggerated way.

http://www.longdrivers.com/index.php

Gloom and Doom

2007-08-16T14:55:00.000-07:00

Have you seen the news lately, among the murders and assults, homes are making the headlines. Foreclosures are up, sales prices are down, interest rates and flexing. Gloom and Doom in Real Estate. Real Estate has a legal term called "puffing", and the media is guilty of this on many counts. Salem and the valley have not seen the drastic trends of California or Florida even Vegas. We have always been a little behind times and our RE market is the same way. That is why last year we say some of the best appreciation in the nation. Why, because we began to catch up. It took 2 years to catch up but the market today in Salem is steady. We are seeing fair prices and fair market time. Buyers are commodities. The supply and demand curve is askew with more and more supply but homes are still holding strong to price. New Construction is flooding supply, but they will eventually sell too!

The Gloom and Doom however is mostly driven by financing. Over the last three years ARMs and IO flooded the market. When people lose their homes the banks start raising rates and lending less money with less risk. The short of it is the banks messed up! They lended too much at exotic rates in exotic programs. The beginning of a new age has come. It is time to get back to the old days of Owner Carries. The owner can put up 5 to 10% for down payment.

Gloom and Doom is true for the days of 100% financing and exotic loans, but Salem has it good right now!

My First Post

2007-08-14T13:54:00.000-07:00

My intentions for this blogspot is to be as witty and distinguished as my nifty counterparts. I wanted to be like Jason but I didn't have a wedding photo handy. I wanted to be like Jake with the all the cars he owns. I wanted to be like Dwayne, my nemisis, with his posts, but Tim topped it all with him Simpsonization of himself.

Ultimately all I have is myslelf to promote. So my shameless plug is a link to my Real Estate Website. It can make you witty. Use the calculator link to see amoriztions for car loans, for retirement...

http://www.trevorselliott.com/

Should you need my help know that I am always available to help you or your friends and family with their real estate needs.