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Homes Continue to Sell Quickly Nationwide

by Mary Gilbert

Homes Continue to Sell Quickly Nationwide | Keeping Current Matters

The National Association of Realtors (NAR) recently released their latest Existing Home Sales Report, which revealed that homes were on the market for an average of 47 days in March. This is a decrease from the 59 days reported in February, as well as the 52 days reported back in March 2015.

42% of homes across the country were on the market for less than a month, which is the highest it’s been since July 2015 (43%)!

Among the states with homes selling in 30 days or less are Washington, Oregon, and Minnesota. The map below was created using results from NAR’s Monthly Realtor Confidence Survey.

Homes Continue to Sell Quickly Nationwide | Keeping Current Matters

Bottom Line

Buyer demand is increasing as the inventory of homes available for sale remains low. If you are thinking about listing your home for sale this year, meet with a local real estate professional who can help you take advantage of current market conditions!

 

One More Time… You Do Not Need 20% Down To Buy NOW

by Mary Gilbert

One More Time… You Do Not Need 20% Down To Buy NOW

A survey by Ipsos found that the American public is still somewhat confused about what is actually necessary to qualify for a home mortgage loan in today’s housing market. The study pointed out two major misconceptions that we want to address today.

1. Down Payment

The survey revealed that consumers overestimate the down payment funds needed to qualify for a home loan. According to the report, 36% think a 20% down payment is always required. In actuality, there are many loans written with a down payment of 3% or less.

Many renters may actually be able to enter the housing market sooner than they ever imagined with new programs that have emerged allowing less cash out of pocket.

2. FICO Scores

The survey also reported that two-thirds of the respondents believe they need a very good credit score to buy a home, with 45 percent thinking a “good credit score” is over 780. In actuality, the average FICO scores of approved conventional and FHA mortgages are much lower.

The average conventional loan closed in March had a credit score of 753, while FHA mortgages closed with a 685 score. The average across all loans closed in March was 722. The chart below shows the distribution of FICO Scores for loans approved in March.

FICO Score Distribution | Keeping Current Matters

Bottom Line

If you are a prospective buyer who is ‘ready’ and ‘willing’ to act now, but are not sure if you are ‘able’ to, sit down with a professional who can help you understand your true options.

 

Roseburg OR Real Estate For Sale
761 Winter Creek Lane, Roseburg, OR  97471

 

 

 

 

 

 

 

 

 

Look no further, this desirable Garden Valley ranch home on 5 acres is just what you have been waiting for! Loaded with tasteful amenities including soaring high ceilings, updated kitchen, two fireplaces, arched entries, recessed lighting, neutral paint colors, amazing outdoor space, in ground pool, plus an attached two car garage. Style and utility were masterfully fused together in the gourmet kitchen with Wolfe range, granite countertops and an eating bar open to the family room with vaulted ceilings and fireplace – an entertainers dream space! Impress guests with a fancy dinner in the formal dining room then relax in the living room by the fireplace. Vaulted ceilings and French doors highlight the master suite with a private bathroom. Two secondary bedrooms with plush carpeting and abundant closet space share a full bath. Tons of cabinetry and a utility sink make staying organized a breeze in the large laundry room. Covered deck overlooking the outdoor fireplace and stamped concrete patio surrounding the in ground pool provide the perfect backdrop for outdoor entertaining. Manicured yard with river irrigation, large shop and a finished studio add to the many quality features. Make your appointment today to see 761 Winter Creek Lane and start living the good life in Roseburg OR!

Mary Gilbert, Licensed Realtor in Oregon has distinguished herself as a leader in the Roseburg OR real estate market. Mary assists buyers looking for Roseburg OR real estate for sale and aggressively markets Roseburg OR homes for sale. 

Mary, Licensed Realtor in Oregon brings with her a keen eye for the details of buying or selling a Roseburg OR home and seemingly boundless determination and energy, which is why her clients benefit from her unique brand of real estate service. Rooted in Tradition, Focused on the Future –Mary Gilbert of
Keller Williams Realty Eugene Springfield will help make the most of your Roseburg OR real estate experience. Give her a call today, 541-430-9949, and discover the difference she can make during your family's move.

Buying a Home is 36% Less Expensive Than Renting Nationwide!

by Mary Gilbert

Buying a Home is 36% Less Expensive Than Renting Nationwide! | Keeping Current Matters

In the latest Rent vs. Buy Report from Trulia, they explained that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States.

The updated numbers actually show that the range is an average of 5% less expensive in Orange County (CA) all the way up to 46% in Houston (TX), and 36% Nationwide! 

Other interesting findings in the report include:

  • Interest rates have remained low and even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation.
  • Some markets may tip in favor of renting if home prices increase at a greater rate than rents and if – as most economists expect – mortgage rates rise, due to the strengthening economy.
  • Nationally, rates would have to rise to 10.6% for renting to be cheaper than buying – and rates haven’t been that high since 1989. 

Bottom Line

Buying a home makes sense socially and financially. If you are one of the many renters out there who would like to evaluate your ability to buy this year, meet with a local real estate professional who can help you find your dream home.

 

Roseburg OR Real Estate For Sale
670 Westview Drive, Roseburg, OR 97471


 

 

 

 

 

 

 

 

Situated on 3.35 acres with access to Riverfront Park and 100 acres of riding trails, enjoy the quiet country setting surrounding this gorgeous Del Rio Ranch Estates home. Unique with custom touches and quality features including soaring high ceilings, easy care flooring, built ins, gas appliances, large windows, attached 1 car garage and a shop with water and power! Offering incomparable space for entertaining guests, the flowing floor plan is sure to impress with vaulted ceilings and cozy fireplace in the living room, sunlight filled dining room and an updated kitchen with granite countertops and eating bar. Bonus living space in the family room with pellet stove and French doors. High ceilings, double closets and a fantastic loft ideal for an office or hobby room make this master bedroom a true delight! Two secondary bedrooms and full bath on the upper level, plus a main level bedroom prefect for guests! Enjoy superb outdoor living on the wrap around covered patios, pergola, extensive landscaping with pond and rock walls, fenced basketball court, New Zealand fencing, plenty of room for animals and sprawling pastures and rolling hills as far as the eye can see! Beautiful country living at its finest awaits at 670 Westview Drive! Start living the good life in Roseburg OR!

Mary Gilbert, Licensed Realtor in Oregon has distinguished herself as a leader in the Roseburg OR real estate market. Mary assists buyers looking for Roseburg OR real estate for sale and aggressively markets Roseburg OR homes for sale. 

Mary, Licensed Realtor in Oregon brings with her a keen eye for the details of buying or selling a Roseburg OR home and seemingly boundless determination and energy, which is why her clients benefit from her unique brand of real estate service. Rooted in Tradition, Focused on the Future –Mary Gilbert of
Keller Williams Realty Eugene Springfield will help make the most of your Roseburg OR real estate experience. Give her a call today, 541-430-9949, and discover the difference she can make during your family's move.

If You Are Thinking of Selling, Now Is The Time

by Mary Gilbert

If You Are Thinking of Selling, Now Is The Time | Keeping Current Matters

If you thought about selling your house this year, now may be the time to do it. The inventory of homes for sale is well below historic norms and buyer demand is skyrocketing. We were still in high school when we learned the concept of supply and demand: the best time to sell something is when supply of that item is low and demand for that item is high. That defines today’s real estate market.

Jonathan Smoke, the Chief Economist of realtor.com, in a recent article revealed that:

“Would-be buyers face a dilemma: There will be more homes on the market over each week of the next three to four months, but there will also be even more prospective buyers. We are entering the busiest season of home buying with the lowest amount of inventory in three years. To be competitive, buyers should get pre-approved for a mortgage and be ready to act quickly if they find a home that meets their needs.”

Smoke goes on to say:

“Listings are growing as they normally do this time of the year, but because demand has been growing faster than supply, homes are selling faster. So the monthly trend is the normal seasonal pattern, but the year-over-year decline is reflective of demand being stronger than supply for more than a year, which is resulting in fewer homes available and faster-moving inventory.”

In this type of market, a seller may hold a major negotiating advantage when it comes to price and other aspects of the real estate transaction including the inspection, appraisal and financing contingencies.

Bottom Line

As a potential seller, you are in the driver’s seat right now. It might be time to hit the gas.

 

Roseburg OR Real Estate For Sale
160 NE Rose Ridge Drive, Winston, OR  97496


 

 

 

 

 

 

 

Crisp and clean one level home in Plum Ridge just awaiting your arrival! 160 NE Rose Ridge Dr offers an open and airy floor plan, three bedrooms, 2 baths, fresh paint inside and out, new carpet throughout, high ceilings, laundry room and a garage with zero step entry into the home. Vaulted ceilings highlight the sun filled great room providing a comfortable atmosphere for entertaining or just kicking back and relaxing. Delightful kitchen with ample cabinet and counter space, pantry and dining area. Spacious master suite with walk in closet and soothing bathroom is sure to impress. Two secondary bedrooms and a full bathroom to share offer room to grow and privacy for all. Sprawling front and rear yard, privacy fence, plus mature landscaping. Modern updates and amenities make this Winston OR home a super buy! Call today for your private showing!

Mary Gilbert, Licensed Realtor in Oregon has distinguished herself as a leader in the Roseburg OR real estate market. Mary assists buyers looking for Roseburg OR real estate for sale and aggressively markets Roseburg OR homes for sale. 

Mary, Licensed Realtor in Oregon brings with her a keen eye for the details of buying or selling a Roseburg OR home and seemingly boundless determination and energy, which is why her clients benefit from her unique brand of real estate service. Rooted in Tradition, Focused on the Future –Mary Gilbert of Berkshire Hathaway HomeServices Real Estate Professionals will help make the most of your Roseburg OR real estate experience. Give her a call today, 541-430-9949, and discover the difference she can make during your family's move.

Roseburg OR Real Estate For Sale
427 Crest View Court, Sutherlin, OR  97479


 

 

 

 

 

 

 

 

This beautiful custom built, one level home in Cooper Creek Estates could be all yours! Appointed with the finest amenities to meet todays busy lifestyle includes 3 bedrooms, 2.5 baths, soaring high ceilings, easy care flooring, contemporary lighting and fixtures, and mature landscaping… just to name a few! A cheerful living room sets the scene for casual everyday living with an abundance of natural lighting and a crackling fireplace surrounded by a wall of built ins. The connecting kitchen is a chefs dream with granite counters, center island, full appliance package, cabinet and counter space galore and a sunny dining area with sliding doors. A romantic master suite with coffered ceiling, crown molding, double closets and a spa bath featuring jetted tub, granite vanity and walk in shower. Plush carpeting, closets and ceiling fans highlight the two secondary bedrooms. Hugh laundry room with tile floors and cabinetry to help keep you organized. Nestled at the end of a quiet cul de sac in a wooded setting with super views to the city and valley from the private, covered patio. Oversized heated 3 car garage with storage, detached 10x12 workshop and RV parking with hook ups add to the many desirable features offered at 427 Crest View Court! Move right in and start living the good life in Roseburg OR!

Mary Gilbert, Licensed Realtor in Oregon has distinguished herself as a leader in the Roseburg OR real estate market. Mary assists buyers looking for Roseburg OR real estate for sale and aggressively markets Roseburg OR homes for sale. 

Mary, Licensed Realtor in Oregon brings with her a keen eye for the details of buying or selling a Roseburg OR home and seemingly boundless determination and energy, which is why her clients benefit from her unique brand of real estate service. Rooted in Tradition, Focused on the Future –Mary Gilbert of Berkshire Hathaway HomeServices Real Estate Professionals will help make the most of your Roseburg OR real estate experience. Give her a call today, 541-430-9949, and discover the difference she can make during your family's move.

Over Half of Americans Planning on Buying in the Next 5 Years

by Mary Gilbert

Over Half of Americans Planning on Buying in the Next 5 Years | Keeping Current Matters

According to the BMO Harris Bank Home Buying Report, 52% of Americans say they are likely to buy a home in the next five years. Americans surveyed for the report said that they would be willing to pay an average of $296,000 for a home and would average a 21% down payment. The report also included other interesting revelations.

Those Looking to Buy

  • 74% of those looking to buy a new home will consult with a real estate agent
  • 59% said they will visit online real estate websites
  • 37% will seek recommendations from friends and family
  • 78% plan to get pre-approved before seriously searching for a home

 Those Who Already Own

  • 75% of current homeowners set a budget before looking for a home, and 16% ended up spending less while 13% went over their budget.
  • 63% of American homeowners spent under six months looking for a new home before they made a purchase.
  • 8% bought their home without participating in an active real estate search - or even any plan to buy at all - because a specific property caught their attention.

The last point is very interesting: Of those who purchased a home, 8% bought “without any plan to buy at all”. A property caught their attention and they acted on it.

Why Are More People Not Planning Their Next Move?

Why are people that are considering a move not putting their home search to a plan, and instead, buying only when a property catches their attention? An article by Fannie Mae reveals evidence that a large number of homeowners are dramatically underestimating the equity they have in their current home. The report explains that:

“Homeowners may be underestimating their home equity. In particular, if homeowners believe that large down payments are now required to purchase a home, then widespread, large underestimates of their home equity could be deterring them from applying for mortgages, selling their homes, and buying different homes.”

Bottom Line

Perhaps it is time to sit with a real estate professional to determine the actual equity you have in your house and to take a look at the opportunities that currently exist in the real estate market. This may be the perfect time to move-up, move-down or buy that vacation home your family has always wanted.

 

Roseburg OR Real Estate For Sale
1536 NE Vista FE Court, Roseburg, OR  97470


Beautiful Pacific Northwest craftsman style custom home in the desirable Vista Fe neighborhood. Featured in Roseburgs Tour of Fine Homes, marvel at the impeccable curb appeal, the graciously manicured lawn, lush landscaping, and mountain views. Upscale craftsmanship and tasteful amenities including Cumaru (Brazilian Cherry) solid hardwood and slate floors throughout, soaring high ceilings, whole house audio system, five zone HVAC system, architectural lighting, plumbing fixtures/accessories, custom built ins, central vac, plus fresh paint inside and out are just the start of all this home has to offer! An entertainers dream floor plan characterized by a keen sense of style and comfort highlighted with a gourmet kitchen featuring a cooking island, bar seating, granite, and Shaker style maple hardwood cherry stain cabinets, toasty fireplace in the spectacular living room, and a spacious dining area to host the whole family! Admire the attention to detail in the master suite featuring coffered ceilings, hardwood, and jetted tub, custom tile 2 person shower, walk in closet and access to the patio. Secondary bedrooms are generously sized offering hardwood and abundant closet space. Attached guest quarters complete with its own kitchen, laundry room, bath and living area. Sit back and enjoy a nice cold beverage in the fantastic game room with wet bar then retreat to the home theater when the movie begins. Great office to work from home, craft room providing extensive cabinetry and work table, plus a large laundry room to keep you organized. Amazing outdoor entertaining highlighted by 3 large covered patios, kitchen with large gas BBQ, burners and storage, hot tub, fire pit, Japanese garden, fruit trees, inground sprinklers, RV/boat parking with power, deer fencing, plus an oversized 3 car garage and workshop area. Offering privacy, peace and quiet, the last house on the court is within city limits and less than 10 minutes to downtown, shopping, hospital, and schools. Make your appointment to view this unforgettable Roseburg OR home!

Mary Gilbert, Licensed Realtor in Oregon has distinguished herself as a leader in the Roseburg OR real estate market. Mary assists buyers looking for Roseburg OR real estate for sale and aggressively markets Roseburg OR homes for sale. 

Mary, Licensed Realtor in Oregon brings with her a keen eye for the details of buying or selling a Roseburg OR home and seemingly boundless determination and energy, which is why her clients benefit from her unique brand of real estate service. Rooted in Tradition, Focused on the Future –Mary Gilbert of
Keller Williams Realty Eugene Springfield will help make the most of your Roseburg OR real estate experience. Give her a call today, 541-430-9949, and discover the difference she can make during your family's move.

Displaying blog entries 1-10 of 16

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Contact Information

Photo of Mary Gilbert Real Estate
Mary Gilbert
Keller Williams Realty Umpqua Valley
2365 NW Kline Street, Suite 201
Roseburg OR 97471
541-371-5500
Fax: 541-371-5501

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