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Salem : Real Estate Advice

  • All103
  • Local Info1
  • Home Buying33
  • Home Selling10
  • Market Conditions3

Activity 61
Mon Apr 1, 2013
Melina Tomson answered:
Safe is a subjective term. The Salem PD puts all of their crime stats on CrimeReports.com. Just type in Salem and you can decide which areas will meet your safety needs definition.
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Thu Oct 31, 2013
Jared Ford answered:
No, there are lots of manufactured homes that are not in a 55+ community, but they are usually priced substantially higher. They also don't qualify for lending very well, unless they are made in 1995 or newer. ... more
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Mon Mar 11, 2013
Melina Tomson answered:
An investor purchased a bunch of those units and they are selling off their investment. They owned 19 of the 42 units in the complex. All of the ones for sale are from the same investor. If you want more information you can send me a private email. ... more
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Wed Feb 13, 2013
Gloria Rohl answered:
If you wish to see the interior the tenant has to be notified. But, one needs more information in order to set this up. Please email me at homesbygloria@gmail.com and I will talk with you further.

Gloria Rohl
Oregon Broker
murray Brown Real Estate
... more
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Sat Nov 24, 2012
Anna M Brocco answered:
Since rent to own properties may not be listed as such, consider working with an agent of your own. Keep in mind that rent to own can be risky and one could stand to lose a bit of money, therefore do inform yourself well, and consider consulting with an attorney who specializes in real estate beforehand. If you haven't done so yet, visit with any licensed loan officer, see if you can buy outright... ... more
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Sun Feb 10, 2013
Jay Marlette answered:
There are certainly both advantages and disadvantages to a short sale.

First let’s explore the pros;
Price – even though the market establishes price/value for almost every home sold it is accurate to say that short sales are typically sold at under-value prices.

Condition – typically short sale properties remain occupied long into the listing period and are therefore likely to have fewer and/or less severe negative or neglected conditions.

Financing – better condition generally means easier financing

Seller cooperation – in most cases (if the listing agent has done their job well) the owner realizes it is in their own best interest to cooperate and expedite the transaction.

Equity- because the homes are sold in distress it is somewhat more likely the buyer will find themselves in a positive equity position sooner.

So then on to the cons;
Time – short sales mean there is another interest (bank, lender, and investor) involved in making decisions. This can cause a transaction to take unbelievably long periods without any clear explanation as to why.

Frustration – because the buyer finds themselves at the mercy of someone (bank, lender, investor) they and their Realtor never get to communicate directly with, it leaves you feeling somewhat out of control of your own life.

Fail to close – sometimes the transaction takes so long the lien holder decides to foreclose on the homeowner, leaving the potential buyer with nothing to purchase

Bottom line is this. If you have a place to live without strict duration time limits and can find yourself a knowledgeable Buyer’s Agent Realtor with multiple closed short sales experience there are great deals to be had.

Good Luck.

PS. No one can walk you through a short sale better that a trained, qualified, professional Realtor

If your looking in the Salem area I'd appreciate the opportunity to visit with you.

Once again Good Luck, home ownership is a wonderfully fulfilling experience.
... more
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Thu Nov 15, 2012
Dana Burk answered:
The MLS feeds almost all the websites, over 700. For the best exposure on the net and not leaving it to chance that is where you should post the home. We also post to craigslist and buyers look there, but it is more difficult to search and you have to repost frequently which can be a very manual process. ... more
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Fri Aug 3, 2012
Gloria Rohl answered:
Generaly speaking, the park owners set rent fees. They vary according to parks and generally are involved according to amenities listed and available to the homeowner. If you are interested in a particular park just email me and I would be happy to discuss this further. ... more
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Mon Jul 30, 2012
Brandon Fahlman answered:
I do not know if a central website with information regarding the different Senior Apartment complexes is available.

Have you tried searching through Craigslist? Another option would be to try a Google maps search.

An example of a search for senior housing in Salem OR is referenced in the link below:

http://goo.gl/maps/EtGVc
... more
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Sun Sep 30, 2012
Lana Lavenbarg answered:
Well as long as you qualify for a loan and if you are moving to do the same type of work - I see no reason why you wouldnt be able to buy out here.
0 votes 6 answers Share Flag
Sun Feb 10, 2013
Heather Wright answered:
Hello Sharonbg
I have an agent that I work near in my office who works the Salem area. If you want to give me a call I can put you in contact with her.

Heather
503-975-3483
0 votes 10 answers Share Flag
Fri Jul 13, 2012
Roland Vinyard answered:
You need a contractor to tell you that. It will not be cheap.. but then neither is adding a wing. I added a couple of bedrooms, removed the old roof, etc. and it cost me $10000. But our prices are cheaper here and that was more than 10 years ago. ... more
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Sun Oct 14, 2012
CJ answered:
I thought there was a way to edit my question, but I don't see it here. I am looking specifically for median recent home sale price over year of rent. I am not sure if there are different ways to calculate... ... more
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Tue Aug 18, 2015
Ron Thomas answered:
The way you ask the question, I am inferring that you are upside-down;
but I detect that you do not have a HARDSHIP:
You are just Upside-Down, and you don't like it.
1. Shortsale; if you are not in a Hardship situation, your Bank probably will not let you do a shortsale.
2. Foreclosure; you will have to stop makking payments to get your bank's attention: It seems that the bank won't talk to you unless you are behind. You will ruin your credit for probably three years.
3. Deed-in-lieu; is a process where you hand them the Deed and walk away. Oregon is a Non-Recourse state, so you can probaly do this.
4. Modification; this has only worked for about 10% of the people who have tried for it. You can ask the Bank to reduce the Interest Rate, Forebear payments to the back of the Loan, or forgive some of the Principle. (Good luck on gettingsome of the Principle!)
5. Rent it out or just grin and bear it until the market recovers.

Good luck and may God bless
... more
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Thu Aug 16, 2012
allan erps,ABR,SFR answered:
Do not know but love your picture!
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Thu Aug 9, 2012
Michael Emery answered:
Often the preliminary title report is done prior to listing, but not always. I suspect that they have already done the preliminary title work and have discovered issues with the title. If you are working with an agent they should've received a preliminary title report which would spell out the issues relating to the title. Often the issues can be fixed before closing but not always, which is why you are probably in a waiting mode. ... more
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Thu Feb 11, 2016
Michael Emery answered:
If the property is in redemption, the homeowner can affect a short sale during the redemption period. There wouldn't be any need to transfer redemption rights.
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Thu Jun 12, 2014
HLR answered:
Try Custom Mortgage in Salem, they have several private investors that will loan on almost anything.

HLR
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Sun Feb 6, 2011
Melina Tomson answered:
I'm pretty sure in Oregon that they have to be designated service dogs to be exempt and eligible for "reasonable accommodations" for disabled. This is a really good question for Disability Rights Oregon. http://www.disabilityrightsoregon.org/the-dro-blog/pets-service-animals-and-the-legislature

Companion dogs are usually for mental health issues and are more nebulous when it comes to the law, I think. Contact DRO. I think they can guide you better than we can.
... more
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Thu Oct 31, 2013
Craig Loughridge answered:
Wow! That's a question that begs a lot more questions: It really depends on a lot of factors. That's a really good question to discuss with an accountant and with your kids. If you're thinking about making the transfer soon, and all other factors aside, you might be doing the kids a favor to sell to them outright if a conventional mortgage will be involved.

Mortgage interest rates can't get much lower than they are right now. All other things being equal, that would give your kids a pretty attractive monthly payment.

Best of luck!
... more
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