Jacque Lusk Team Inc. Keller Williams Realty
Mid-Willamette 541-766-0279 Fax: 541-738-7771 815-NW 9th St., Suite L195 CorvallisOR97330
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Presented by: Jacque Lusk Team Inc.
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My Newsletter
Corvallis Recent sales
National Market Trends
According to the National Association of Realtors®, home sales declined in December by 2.2 percent. Twenty-two percent lower than the same time last year.
| Average (Mean) Sales Price of Existing Homes by Region |
| Date |
U.S. |
Northeast |
Midwest |
South |
West |
| 2005 |
$266,600 |
$297,000 |
$203,800 |
$231,700 |
$363,800 |
| 2006 |
268,200 |
299,700 |
205,300 |
230,000 |
371,300 |
| 2007 |
265,800 |
307,000 |
200,500 |
225,700 |
365,700 |
| Oct-07 |
255,300 |
292,600 |
197,300 |
214,700 |
353,200 |
| Nov-07 |
255,700 |
289,900 |
192,100 |
217,100 |
357,600 |
| Dec-07 |
254,900 |
294,500 |
194,100 |
218,300 |
346,400 |
| Statistics from the National Association of REALTORS® |
Lawrence Yun, NAR chief economist, said the market is experiencing uncharacteristic weakness. “Home sales remain weak despite improved affordability conditions in many parts of the country, but we could get a quick boost to the market if loan limits are raised in combination with the bold cut in the Fed funds rate,” he said. “Home prices are lower, mortgage interest rates continue to decline and incomes are higher, but many potential buyers are delaying a purchase.”
The total homes for sale fell 7.4 percent by the end of December which is encouraging, but buyers still have a clear advantage over sellers in many markets.
A Great Time for Investors!
Today's low interest rates and higher inventories have created some great investment opportunities! Investing in real estate has unique advantages over other types of investments:
- Interest in mortgage loans are tax-deductable. Investors can lower their tax liability while increasing their equity.
- Renters pay down your mortgage loan. Investors reap the benefits of rental income, which offsets your mortgage cost and build equity.
- Real Estate values increase over time. Real Estate is limited and will always be in demand.
- 1031 exchanges are available to defer taxable income when you are ready to sell.
Real estate is one of the most sensible long term investments you can make. Have questions? Give us a call. We are happy to help!
Tips to Selling in the Winter
When selling your home in the winter, the art of staging the inside becomes more important. Some simple things can help you sell your home even when the outside landscaping is faded.
Keep your house warm. In the winter people tend to turn the thermostat down to save money, however a warmer house is more welcoming to a potential buyer.
Clear your walkways and driveways of any snow or ice. Make it easy for buyers to get to your home.
Clean the windows and blinds. Letting in the natural light can brighten up a room and cheer up the home. This also brings attention to the windows and blinds so make sure they are clean even during winter. Dirty windows will make the home seem as those it's not well maintained.
Background music played softly can completely change the atmosphere making the home seem cozy and keep potential buyers around longer. Stick with classical music which can appeal to anyone.
Leave the light on. Before showing a home, make sure it's well lit. A well lit home is more inviting. If you're not home, consider setting up timers.
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Keller Williams Realty
Mid-Willamette, 815-NW 9th St., Suite L195, Corvallis, OR, 97330
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