Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Oct. 22, 2018

Progress Update: Gracie's Landing

Chad E. Davis Construction began framing four homes in the recent weeks, two of which will be single-level. All four are expected to be completed within 75 days of start, and one of the two single-level homes is currently pending. There will be 29 homes in all, with prices beginning at $434,900. As for Phase One, built by J.T Smith & Company, there are 12 homes available in a variety of floor plans. Prices begin under $400,000 and escalate into the low $400,000's. If you have been searching for a calm, friendly environment, Gracie's Landing is the place for you. 

Please vist, New Construction for more information on these homes!

 

Posted in New Construction
Oct. 12, 2018

To buy, or not to buy.

As the leaves begin to change, weather shifts to cold, and cloudy, our local real estate market experiences its usual fluctuations. As you may infer, real estate activity slows heading into the Winter months, adversely decreasing prices, and stunting the market. However, once over, the market quickly regains it's strength, and plows full-force throughout the Spring and early Summer. If you are looking for a home, this current downward trend can be quite encouraging, as prices are slowly falling. Although the market is less competitive now, than in the Spring, one disheartening factor remains; interest rates. 

After speaking with my preferred lender, Kelly Naff of Guild Mortgage in Newberg, Oregon, we concluded that interest rates are hovering around five percent. This hypothesis is shared by all, and feared by many. Personally, I have experience my clients decline opportunities in their local market due to, 'high' interest rates. Little to they realize these rates will only continue to rise. It is common though that conventional, and governmental rates will reach six percent by next year. When this occurs, buying power will be significantly affected. 

Overall, it is about finding that happy medium, wherein prices are better, and interest rates are manageable. I believe that will take place this Fall and Winter. Rates are continually rising, and prices are often being adjusted downward. If you find a home you like, purchase it. 

 

Posted in Market Updates
Sept. 3, 2018

McMinnville Continues to Develop

Phase One of Major Housing Project is Underway

Just recently, Stafford Homes purchased 10.47 acres located off of Hill Road, and Yohn Ranch Drive in McMinnville. This 6.8 million dollar purchase included 75, ready-to-build lots, which Stafford intends to develop immediately. I suspect homes to listed early in September, priced $425,000 and higher. Below is the plat map for initial phase of Baker Creek West. 

If you have any questions regarding this project or others, contact Zach Bernards.

 

Posted in New Construction
July 31, 2017

Curious About Local Real Estate?

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Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

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You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates