Real Estate Talk Blog for the Willamette Valley

Its been said that there are only TWO ways

to determine the absolute value of a property for sale;

(1) the Price that a qualified buyer is willing to close escrow OR

(2) the Price that the Seller is willing to continue to own it.

    With that in mind, our job as Real Estate Professionals is to find Number 1!  We'll do a comprehensive Market Analysis, giving you an idea of the current active and recently SOLD listings that are similar to yours, but at the end of the day, this is more ART than SCIENCE and at best, we are creating a starting point to test the Market's response.

 There IS a "Magic Number"

 at which the market will respond with enough activity (showings) to get you an offer - or maybe multiple offers.  If you assume that the market is going to remain absolutely FLAT for the next six months, it doesn't matter if you hit the Magic Number on day 1 or on day 180...that IS the number at which your house will get the market to positively respond.  Time is money, right?  Wouldn't your rather get the best offer you're going to get early in your listing experience rather than wait 6 months to get the same offer?

    Unfortunately, we all know that the market will not stay absolutely FLAT and, in our current environment, it means the Magic Number is going to nothing but go down, and with it the negotiating leverage that you have to hold on to even that price.  High Days on the Market statistics are ammunition for buyer low ball offers!  And the longer you've been sitting without an offer, the more likely you are to make the move to being a "Highly Motivated Seller" who will "Consider All Offers."

Bottom line

 List your home at the best guess of your home's Magic Number, and be prepared to adjust based on market activity.  Schedule your first 2 or 3 price adjustments at the time you start the listing...don't waste time!  The sooner you find the number, the sooner you'll see an offer and the more likely you are to be able to negotiate from a position of strength.

Albany

  SOLD (past 90 days) - 142

• Average price - $184,745
• Median Sale Price - $177,001
• Average Days on the Market - 127
• Average Dollar per Square Foot - $118.04

  Current Active Listings - 365

• Average Price of Active Listings - $210,747
• Months of Inventory - 7.71

  Pending/Contingent Sales - 56 / Value $9.2 million

• Total Contingent- 21
• Total Pending - 35

Corvallis 

  SOLD (past 90 days) - 91

• Average price - $271,169
• Median Sale Price - $257,025
• Average Days on the Market - 134
• Average Dollar per Square Foot - $160.21

  Current Active Listings - 192

• Average Price of Active Listings - $320,120
• Months of Inventory - 6.33

  Pending/Contingent Sales - 31 / Value $9.3 million

• Total Contingent- 20
• Total Pending - 11

Lebanon

  SOLD (past 90 days) - 62

• Average price - $143,481
• Median Sale Price - $149,550
• Average Days on the Market - 217
• Average Dollar per Square Foot - $102.96

  Current Active Listings - 137

• Average Price of Active Listings - $166,264
• Months of Inventory - 6.63

  Pending/Contingent Sales - 34 / Value $5.8 million

• Total Contingent- 10
• Total Pending - 24

Upcoming Guests Scheduled:
January Guests:

January 21 - Listener Questions with Dave.

January 30 - Foundations Show Kick Off - The ABC's of Real Estate with Dave and Mary Hartley


Are you a First Time Home Buyer? Do you want to participate in Real Estate Talk? Dave is looking for someone to go through the process "on the air" by working with him, and letting the listeners know how things are going throughout the entire process. The person(s) selected will receive some nice gifts as a way of saying "thank you." Jay Chase Inspections will provide the Pest and Dry Rot Inspection at no charge to the buyer(s) selected for this program. Corvallis Moving and Storage will provide the Local Move (packing not included).


For more information, contact Dave at realestatetalk@kgal.com

Homeowner Education and Loan Protection Program (HELP)

  Look for this sign to start popping up on homes in our local MLS. It means that the sellers have agreed to participate in this program.  It means that if you purchase a home with this program that you, as the buyer have access to:

• 24 Month Homebuyer Counseling
• 24 Month Job Loss Protection
• 24 Month Homebuyer Educational Newsletter
• 24 Month Access to the Emergency Relief Fund

 HELP is under the umbrella of the Rainy Day Foundation, a 501c3 that aprovides educational and financial protection to homeowners for life's unexpected events.

How does the Job Loss Protection work?  The number one reason for mortgage default is loss of employment and participation in this program protects the homeowner from this most common cause of foreclosure by providing up to 6 months of mortgage payments for qualified borrowers (or co-borrowers) who experience an involuntary loss of employment.

Up to 6 months of benefits

• Limited to $1800 per month (Principal/Interest/Taxes/Insurance)
• Must be employed full time (minimum 30 hrs. per week) at time of enrollment
• 60 day vesting period
• ** Cannot be self employed (greater than 10%, an independent contractor, or active military
• Must be between the ages of 18 and 66

Who benefits?

• Sellers who want a marketing tool to help their home stand out from the crowd!  Cost to the seller is $500 (if you are listing your home with a RE/MAX associate who has completed the qualification training). Offer this programand add confidence to buyers in choosing your home.
• Buyers - If you qualify, and are working with a RE/MAX agent YOU can get access to this program on any home you buy! Just have your agent work with you to make it part of the offer negotiations...just like they would with a home warranty.

Questions?  Check out my page here or contact me for more information.

  SOLD (past 90 days) – 148

• Average price – $180,438
• Median Sale Price – $175,400
• Average Days on the Market – 126
• Average Dollar per Square Foot - $117.14

  Current Active Listings – 361

• Average Price of Active Listings - $210,881
• Months of Inventory – 7.32

  Pending/Contingent Sales – 50 / Value $9.9 million

• Total Contingent- 15
• Total Pending - 35

  SOLD (past 90 days) – 96

• Average price – $270,710
• Median Sale Price – $255,300
• Average Days on the Market – 132
• Average Dollar per Square Foot - $160.71

  Current Active Listings – 196

• Average Price of Active Listings - $319,884
• Months of Inventory – 6.13

  Pending/Contingent Sales – 33 / Value $9.6 million

• Total Contingent- 22
• Total Pending - 11

Lebanon

  SOLD (past 90 days) – 62

• Average price – $140,153
• Median Sale Price – $144,950
• Average Days on the Market – 190
• Average Dollar per Square Foot - $102.27

  Current Active Listings – 132

• Average Price of Active Listings - $168,573
• Months of Inventory – 6.39

  Pending/Contingent Sales – 32 / Value $5.6 million

• Total Contingent- 10
• Total Pending - 22

Upcoming Guests Scheduled:

January Guests:

January 16 – Real Estate Roundtable – This month’s guests include Andrea Beem, Gina Bindel (The Beem and Bindel Team from RE/MAX Integrity), and Dee Robb (Summit Funding)

January 21 – TBD

January 30 - TBD

Are you a First Time Home Buyer? Do you want to participate in Real Estate Talk? Dave is looking for someone to go through the process "on the air" by working with him, and letting the listeners know how things are going throughout the entire process. The person(s) selected will receive some nice gifts as a way of saying "thank you." Jay Chase Inspections will provide the Pest and Dry Rot Inspection at no charge to the buyer(s) selected for this program. Corvallis Moving and Storage will provide the Local Move (packing not included).

For more information, contact Dave at realestatetalk@kgal.com.

Albany 

  SOLD (past 90 days) - 146

• Average price - $179,020
• Median Sale Price - $173,000
• Average Days on the Market - 123
• Average Dollar per Square Foot - $116.79

  Current Active Listings - 353

• Average Price of Active Listings - $210,895
• Months of Inventory - 7.25 
  

  Pending/Contingent Sales - 55 / Value $9.9 million

• Total Contingent- 18
• Total Pending - 37
  
  

Corvallis

  SOLD (past 90 days) - 101

• Average price - $272,506
• Median Sale Price - $254,000
• Average Days on the Market - 115
• Average Dollar per Square Foot - $162.32 
  

  Current Active Listings - 188

• Average Price of Active Listings - $326,217
• Months of Inventory - 5.58

  Pending/Contingent Sales - 34 / Value $10.4 million

• Total Contingent- 21
• Total Pending - 13
  
  

Lebanon

  SOLD (past 90 days) - 61

• Average price - $138,129
• Median Sale Price - $139,900
• Average Days on the Market - 179
• Average Dollar per Square Foot - $103.13
  

  Current Active Listings - 124

• Average Price of Active Listings - $158,103
• Months of Inventory - 6.10

  Pending/Contingent Sales - 26 / Value $4.8 million

• Total Contingent- 9
• Total Pending - 17
  
  
  

Upcoming Guests Scheduled:

January Guests:

January 07 - Kevin Simrin, Owner RE/MAX Integrity - Market Outlook for 2010 - the Big Picture.

January 16 - Real Estate Roundtable - This month's guests include Andrea Beem, Gina Bindel (The Beem and Bindel Team from RE/MAX Integrity), and Dee Robb (Summit Funding)

January 21 - TBD

January 30 - TBD


Are you a First Time Home Buyer? Do you want to participate in Real Estate Talk? Dave is looking for someone to go through the process "on the air" by working with him, and letting the listeners know how things are going throughout the entire process. The person(s) selected will receive some nice gifts as a way of saying "thank you." Jay Chase Inspections will provide the Pest and Dry Rot Inspection at no charge to the buyer(s) selected for this program. Corvallis Moving and Storage will provide the Local Move (packing not included).


For more information, contact Dave at realestatetalk@kgal.com < " target=_newmailto:realestatetalk@kgal.com> .

January Guests:

January 02 – Larry Lundgren, Mortgage Advisor Guide – In depth information on Loan Modifications

January 07 – Kevin Simrin, Owner RE/MAX Integrity – Market Outlook for 2010 – the Big Picture.

January 16 – Real Estate Roundtable – This month’s guests include Andrea Beem, Gina Bindel (The Beem and Bindel Team from RE/MAX Integrity), and Dee Robb (Summit Funding)

January 21 – TBD

January 30 - TBD

Are you a First Time Home Buyer? Do you want to participate in Real Estate Talk? Dave is looking for someone to go through the process "on the air" by working with him, and letting the listeners know how things are going throughout the entire process. The person(s) selected will receive some nice gifts as a way of saying "thank you." Jay Chase Inspections will provide the Pest and Dry Rot Inspection at no charge to the buyer(s) selected for this program. Corvallis Moving and Storage will provide the Local Move (packing not included).