5 Tips for Making Your Best Offer on a Home As a buyer in a sellers’ market, sometimes it can feel like you’re stuck between a rock and a hard place. When you’re ready to make an offer on a home, remember these five easy tips to help you rise above the competition. 1. Know Your Budget Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way […]
Winter Housing Market Forecast
If You Think the Housing Market Will Slow This Winter, Think Again. From the opportunity to take advantage of today’s low mortgage rates to changing homeowner needs, Americans have more motivation than ever to buy a home. According to the experts, buyers are making moves right now, creating an unseasonably strong housing market for this time of year. As we wrap up the fall season and move into the winter months, here’s a look at what several industry leaders have […]
Why did lumber prices skyrocket and How Does this Affect Housing?
As you may have noticed first hand while shopping at your local home improvement store, lumber costs have skyrocketed this year. Builders too have noticed, as the cost to build homes continue to soar. Why is this happening and what does this mean to the housing industry? Why Lumber Prices Rose so High The average home build start from 1960 to 2010 was 1.5 million homes a year. Since the end of the Great Recession […]
Yamhill County Real Estate Market at a Glance
Yamhill County Home prices 2nd Quarter 2021 As of May 2021, Yamhill county’s median home price was at $423,190, up from $349,140 one year previous. (+21.2% increase) Housing inventory, which indicates how long it would take to sell all the current listings on the market, at the speed of which they are currently being sold if nothing new came on the market, is holding at .7 months for the second straight month. At the current […]
What Housing Bubble?
What’s the biggest question being asked around the water cooler? True, we aren’t standing at water coolers anymore, we are in our home office, also known as our kids classroom, aka our ‘at home’ gym, and watching the news, asking friends over the phone, and searching online, “When will the housing bubble pop?” Google reports this question has spiked over the last month 2450%. I myself have had numerous conversations with buyers, sellers, and extended […]
Yamhill County Market Trend Review
Yamhill County Market Trend Review We have all heard the phrase “We are in a housing shortage”. To give eyes to this, let’s look at Yamhill County’s inventory graph from the past 36 months. (Courtesy RMLS (REALTOR®-owned multiple listing service.) LET’S REVIEW THE GRAPH You can see Pending Units (green dotted line) are a consistent pattern year to year. We see more homes pending in the summer, and less in the winter. In March of […]
Preparing to Search for Your New Home ~
Plan ahead ~ Don’t wait until you’ve found a home to Get Pre-Approved for a mortgage, investigate insurance, or consider a moving schedule. Being prepared will make your bid more attractive to sellers and may help you beat out the competition. Know there is no “right” time to buy~ If you find the ‘perfect’ home now, Don’t Risk Losing It because you’re trying to guess where the housing market and interest rates are going. In […]