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Best Real Estate Agents

We are thrilled to have won the title for the Statesman Journal’s Best Real Estate Agents in the Mid-Willamette Valley for 2010, 2011, 2012 & 2013 and Best Real Estate Companies for 2011, 2012 & 2013!  We have been in the Real Estate profession in Salem, Oregon since 2001.  We opened Paramount Real Estate’s doors in December 2009.  We are excited to have so many people that believe in us and continue to support our company.  We strive to go the extra mile with the people that we come in contact with.  Paramount Real Estate Services is committed to serving all of our customers and clients with Integrity & Compassion.  These core values that we hold strongly to keep our name at the top of many people’s list when they are referring their friends and family who are planning on selling or buying their next home.  We thank you so much for your support and know that it is because of you that we have success.  We are committed to serving everyone with competent service and hard work that we have the privilege of helping out with their Real Estate needs.2012 Gold

If you or anyone you know is wanting the advice of a Real Estate professional in the Salem/Keizer and surrounding areas; please consider contacting Paramount Real Estate Services.  We strive to give our customers and clients the best Real Estate advice and arm them with accurate information that they need to make the right decisions for them.  We have many designations and credentials within our Brokers here at Paramount.  With the high risks of this current Real Estate market, it is critical to find someone who is professional, competent and who cares about the people they serve.

Brian & Nina White and the Paramount Real Estate Team 2012 Bronze  2013 Bronze

Market Slowdown?

So the deadline for the Tax Credit was last Friday.  I am curious to see how the market is going to respond.  I have talked to some people who feel that there are enough buyers out there that don’t seem to care about the credit.  They think this is a wonderful time to buy and won’t be persuaded by $8000 or $6500.  I feel that I come from a more logical approach.  I would think that if anyone was in the market to buy a house, then they would have gotten off the fence to capitalize on the tax credit.  I can understand people waiting if they didn’t find what they were looking for, but that raises another issue.  Those people are more than likely hard to please and quite possibly may never find a home that they like.  There are so many options out there.  And there will continue to be more options.  If those buyers decided not to pull the trigger because they felt that prices may fall further than the tax credit value; then I can see that argument.  They will also have many options for the next couple years since the defaults continue to stream in and unemployment more than likely won’t change dramatically from our current 10% rate. 

So, time always tells what the future holds.  I predict that sales will slow up for a month or two while we work through this.  The tax credit will not be extended, but I wouldn’t be surprised if the government came up with another carrot to chase.  They have spent so much money on this program already and they don’t want it to become another Cash for Clunkers program.  We all know how that helped us.  I’m afraid that as much as the government tries to help, and I do believe their intentions are good, they need to just allow the market to work itself out.  That means that it may hurt even worse for a while, but we can’t continue to throw money that we don’t have to fix a problem.  We are only prolonging the inevitable each dollar we waste.  What do you think?

Tax Credit

Well, things seem to be heating up once again with first time home buyers as well as move up buyers in our area.  People are trying their hardest to get contracts signed around by April 30th to receive the tax credit.  The homes that are selling are around $225,000 and below.  The good ones are selling rather quickly, which is a great sign for move up buyers that have prepared well.  If they can take advantage of this little “sellers market” in their market segment and then take advantage of the “buyer’s market” in their move up market segment, then I see that as a huge success.  Values have held steady for those properties that have been a target of the first time home buyers.  Prices have not increased, however; they have mainly held firm.  It will be interesting to see what the market will do once May rolls around.  Once again, if the government doesn’t concentrate on creating opportunities for private sector jobs, then we are in for a long haul.  Of course, it will still take a long time for the economy to work through the 8 Million jobs lost over the last two years.  The government is sure not to extend this tax credit, but they may just have to come up with more opportunities out there if our economy does not start to show healthy & sustainable signs of recovery soon.

Jobs Report

Today the Bureau of Labor Statistics jobs report came out that announced that we gained 162,000 jobs in the month of March(www.bls.gov).  On Wednesday the ADP (Automatic Data Processing) said we lost 23,000 private jobs.  So what does all of this mean?  First of all, it is good news that the BLS report shows job gain.  I want to make it clear that any growth is good for us right now.   The bad news in my opinion is that most all of these jobs are government jobs and many of them are temporary.  It is estimated that the US Census Bureau will create approximately 800,000 jobs from January to May of this year.  That is all wonderful, but May is only a month away.  By the way, did you send in your Census yet? 

I do believe that the health of our country’s economy, including our housing market, is going to be built on the foundation of a strong PRIVATE work force.  Small businesses and corporations are what encourage the American Dream that we have become known for.  Government jobs only create more dependence and add to our problems.  As you can tell, I am not a fan of big government.

Our housing market has stopped its hemorrhaging, but we continue to seep if you will.  The tax credit that expires in 28 days, which will NOT be extended, is holding us steady with properties under $200,000 here in the Willamette Valley.  Homes over that price range and especially homes above $300,000 continue to drop in values.  Again, everything hinges on our employment rate and the confidence that Americans have in our economy.  We will not see home values stop dropping until we get people back to work.  Our current unemployment rate is holding at 10.5% here in Oregon.  That is better than the 11.6% it was in 2009, but we have a long way to go.  I don’t believe we will sustain our problems in the long run with more government jobs.

In the midst of the economic conditions, I do believe now is the best time to buy a home if you are in the market.  I do believe that housing rates will continue to rise from here on out, which will cost a buyer more money than the potential drop in home values.  If rates go too high, then it will price home buyers out of the market completely, then we will be living in the early 1980’s once again.  Only cash buyers were purchasing homes and only a few were selling on contract.  Purchase agreements must be inked by April 30th, and homes must close by June 30th to get the $8000 “First Time Home Buyer” tax credit, and the $6500 “Move Up Home Buyer” tax credit.

Real Estate Outlook

It is March 30th and the Federal Government has committed to purchasing Mortgage Backed Securities until the end of this month.  This ends, or at least appears to end at the moment, a $1.2 Trillion program to keep Mortgage interest rates in check.  Of course, we’ve been spoiled with interest rates as low as the high 4’s over the last few years; however expect things to change if the Fed really does stop purchasing these bad packaged loans.  We very well could see them stop buying them for a little while, but if interest rates increase very much, then expect them to continue throwing more money at the program.  If the market suffers even more because of the lack of a purchaser for these loans, then the money spent for the program in the amount of over $1.2 Trillion could be considered another wasteful attempt to pump life into the market.  Sooner or later, though, this liberal government will need to realize that we can not sustain to continue spending money that we don’t have in order to carry the burdens.  They need to understand that unemployment is the driving force to getting us out of this funk that we are in, and we are in one of the largest funks in recent history.  This could turn out to be worse than the 80’s if they don’t get things figured out very quickly.  It doesn’t take a rocket scientist to understand that spending more money than one is making is a recipe for disaster, and raising taxes in a recession is another recipe for disaster.  People who have gotten themselves into too much debt and weren’t able to make their payments is one reason why this country is in the financial mess that we are in now; and you tell me that the governments solution is go to deeper into debt with China?!  How ridiculously ignorant do you have to be?

Paramount Real Estate Services Grand Opening & Open House

We had an amazing Grand Opening Open House last Friday with some of our closest friends and supporters.  Our friend and web designer Vin Thomas took these pictures for us.   We’re excited to be able to start this new venture in our lives.  Thank you to everyone who helps make this possible.  Your support means the world to us.  We look forward to serving all of your Real Estate needs in this difficult and volatile market.  We pride ourselves in bringing the most competent advice and hardest work ethic to make sure that we are serving our clients well with Integrity and Compassion.    http://www.flickr.com/photos/vinthomas/sets/72157623530257179/show/

Brian & Nina White