Trulia Voices Real Estate Q&A in Salem

Brad
Brad
Home Seller
Oregon

What is happening in Salem with small acreages?

We have a great view property in the country towards Aumsville on 1.5 acres, with a fairly new 2050 sq ft house and multiple garages/shops (all stick built and completely finished in 2007 ..no junky pole buildings). We haven't got even a phone call to our realtor in over 3 weeks, but about 25 flyers have been taken. I thought this area was doing well? The property is realistically priced, at the $500k mark. Is anyone buying these days? How many DOM should we realistically expect?

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Melina Tomson
Melina Tomson
Real Estate Pro
Salem
Sat Jul 5 2008, 08:34

Think about it, a $500,000 listing with a 20% downpayment is $100,000 down. With interest rates climbing most people cannot afford your property. The average income for a Salemite is $52,000 per year. You have an agent and they can share the DOM with you for comparable homes, but I would be prepared for a good 9-12 month haul at that price.

If you are comfortable with your agent follow their advice.

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The Knudsens: O…
The Knudsens: O…
Real Estate Pro
97229
Fri Jul 4 2008, 20:07

Brad.

It is slow my friend and Summer can be a slow time in oregon anyway. Hang in there.

Review price, marketing, what more you can do!

Do you have a Virtual Tour?? How about a home Video. I do those and they are a great draw and getting us some business.

If you ever switch agents let me know. I am always glad to discuss things with you.

Have a happy 4th my friend.

Regards;

Dirk T Knudsen
ReMax Metro
#1 Rated ReMax team in Oregon
ReMax Hall of Fame
503-799-8383

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Lynn911.com Dal…
Lynn911.com Dal…
Real Estate Pro
Dallas
Fri Jul 4 2008, 20:04
FIRST ANSWER

Your agent should provide you the DOM, with lending difficult for many to obtain the loans, the more expensive the house more demands from the lenders. http://www.lynn911.com

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Check out more about Market Conditions in Salem

Question - Pickman Condos - Salem, MA
Answered Mon May 19 2008, 11:09 by Melina Tomson in Salem
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