Jennifer Fidler

Albany:

Average Days on Market 145

343 Currently Active Properties

Average Price per Sq Ft. $124

Average Sales Price $194,490

North Albany:

Average Days on Market 158

89 Currently Active Properties

Average Price per Sq Ft. $139

Average Sales Price $308,836

Corvallis:

Average Days on Market 114

278 Currently Active Properties

Average Price per Sq Ft. $164

Average Sales Price $301,363

For all of you out there thinking of buying your fist home in the new year, I wanted to give you some information. If you are in the Albany, Corvallis areas, you should really check out Willamette Neighborhood Housing. They offer first time home buyer classes and financial assistance for first time buyers. Coming up in the new year, they are going to be offering their own fixed rate loan program as well. WNHS not only helps prepare you to buy a home, but they know where to get grants, down payment assitance, second mortgages and more! They also work with reputable lenders and realtors who know our area! Rates are too good not to buy. Inventory is up and if you were every going to get a deal, now is the time! Here is the link to Willamette Neighborhood Housing:

http://www.w-nhs.org/

There are 100% Financing Programs Available!

Rural Development is 100% financing is used a lot in Lebanon, Sweet Home, Brownsville, Tangent area. There are homes in Albany and Corvallis, we just have to look up the address to see if they qualify. The positive about this program is there is no mortgage insurance, there is a 2% funding fee that is included in the financing. It allows 6% seller concession like FHA does. The income limits are actually pretty high (significantly higher than the housing programs). Here is the link to property eligibility and income eligibility for this program:

http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do

http://eligibility.sc.egov.usda.gov/eligibility/incomeEligibilityAction.do?pageAction=state&NavKey=income@11

If you have any other questions about this program contact Dee Robb at Pacific Crest Home Loans. Here is her information:

541-979-2194 Direct

541-451-3211 Office

November Statistics (courtesy of WVMLS):

Albany:

Average Days on Market 149

392 Currently Active Properties

Average Price per Sq Ft. $125

Average Sales Price $196,698

Units Sold to Date: 510

North Albany:

Average Days on Market 158

107 Currently Active Properties

Average Price per Sq Ft. $134

Average Sales Price $313,098

Units Sold to Date: 106

Corvallis:

Average Days on Market 115

333 Currently Active Properties

Average Price per Sq Ft. $164

Average Sales Price $299,634

Units Sold to Date: 509

I think we are all getting used to hearing the doom and gloom about the real estate market, but lately I am hearing more and more people say to me, "There is no way I can qualify for a loan right now." At first it was just a few people, but now it seems everyone I've talked to has that perception and its getting worse by the day. I think people have finally figured out its a great time to buy, but now they have the worry they can't get a loan. Well, the media has done it again, they've scarred buyers into thinking that there is no way they can borrow money to buy a house right now. The truth is, there are A LOT of great mortgage products out there, rates are still pretty low and good loans are being made everyday. If you are even thinking of possibly buying a home, its worth talking to a mortgage broker or bank, you might be pleasantly surprised. Even if you are not quite ready to buy, talk to a professional, they can help get you on the path to buying and help you get a plan in motion to position yourself to buy in the future. There are plenty of good loans being made everyday and there are a lot of knowledgeable, honest lenders in our area.

Overall, if you are thinking of buying a home, don't be intimidated to talk to a professional! Let them educate you on different loan products and what's available to you and your situation. Don't let the media scare you into thinking you can't buy a home without talking to a professiona lender!

Remember, if you are a first time buyer, in order to get your $7500 tax credit, you have to close on your house by the end of they year, that doesn't leave much time. Take advantage of an interest free loan from the government!