A QUARTERLY PUBLICATION

Lee EckrothReal Estate Advisor,

Broker, RealtorCNE, C-RIS, e-PRO, GRI

Cell: 541-760-4742

Efax: 541-610-1564

Lee@Talk2Lee.com

www.Talk2Lee.comSTATE OF THE MARKET: January through MarchThe Corvallis marketplace is alive and well. We are

seeing many homes coming on the market and getting

multiple offers. There are lots of first time home

buyers and buyers wanting to step-up from their first

home. Our biggest challenge, at this time, is that we do

not have enough quality listings available for the

number of people ready to purchase.

The statistical data indicates we are in line with 2014

home sales. That being said, one “X” factor is that we

have a tremendous number of buyers in the wings

awaiting more homes to come on the market. There are

quite a number of sellers getting ready to bring their

homes to market. We will see the true results of these

shadow buyers and sellers in our results that will be

forthcoming in July and October, as our traditional

highest closing months are between June and

September.

As you review this information – please consider that

every house, street, neighborhood, city, and

marketplace is different. Even locations within a

neighborhood can result in different values and

desirability. If you are interested in a Real Estate

Review – just to know what is happening or you are

interested in buying or selling – please let me know!

Vol. 1, No. 2 APRIL 2015E m p o w e r e d w i t h K n o w l e d g e

I n s p i r e d t o A c t i o n

INSIDE THE PULSE

Pg 1:

State of the Market:

Jan-March

Pg 2:

New Construction

Permits and Local

Events

Pg 3:

Housing Predictions

for 2015

Pg 4:

Shout Outs!

1

Happy Spring 2015! Flowers are coming up, it is

staying lighter longer and trails are amazing for hiking

and biking. I am excited to share that we are finally

starting to see some homes come on the market. The

past few months have been a bit discouraging for

buyers who have been unable to find a home. On the

flip-side, it has been a very strong market for sellers.

Interest rates will remain low at least for the next two

quarters according to the federal reserve. Many are

predicting 2015 might be the biggest year for real estate

since 2007. If you or anyone you know have any real

estate needs – please let me know! Now is the time!

Source: WVMLS data pulled April 1, 2015. Time frame from Jan. ’07 –Mar. ‘14. Properties listed for sale only – not for sale by owners. All

information deemed reliable but not guaranteed.

New Construction Building Permits

SFRDuplex

(total units)3+

(total units)

2004 195 2 69

2005 210 6 184

2006 190 4 50

2007 89 2 20

2008 34 0 43

2009 34 0 0

2010 30 0 8

2011 37 22 218

2012 57 10 213

2013 72 2 90

2014 46 22 338

CORVALLIS HIGHLIGHTS: Team Dirt

The film BUILDER is being presented by Team Dirt, an IMBA

(International Mountain Bicycling Association) chapter, as a fundraiser

and in support of our “Build It. Ride It." campaign. Go twww.teamdirt.org

to help make miles of sustainable local trails happen.

Held at the historic Whiteside Theatre, the event will serve as the wrap up

celebration of our capital campaign, and will feature a showing of

BUILDER, a Scott Secco Film, as well as a raffle with awesome prizes

including a Transition Bikes Klunker!! BUILDER will debut just a week

before at the Sea Otter Classic, and we have a special showing here in

Corvallis, thanks to Scott Secco!!

Mazama Brewing will be on hand to pour their awesome craft beer, and Starbucks Coffee will handle

the coffee service for the evening. Movie refreshments will be offered by the Whiteside Theatre

including popcorn, soda and candy.

Come help us celebrate our capital campaign and enjoy an evening with fellow riders and watch a rad

mountain bike film! Tickets will be availabe soon from Bike n' Hike, Corvallis Cyclery Inc.,

Cyclotopia and Peak Sports for $10 each, or at the door the night of the event. Doors open on April

25th at 6PM with Showtime at 7PM.

REAL ESTATE NEWS:New Construction Permits

New construction in Corvallis has historically

provided an opportunity and a challenge. Why

an opportunity? This is specific to builders –

we simply do not have enough new

construction single family dwellings. We are

fortunate to have the newer developments we

do have (Thank you Legend Homes!), but in

general the quantity is very limited. There are

some very nice newer homes, but most are

custom and in higher price categories.

Builders – we need more new construction!

Why a challenge? It is a challenge for buyers

to find a selection of quality, affordable, new

construction homes in Corvallis. This starts

with the limited land available for

development.

Most of our newer construction starts with

bare land which someone purchases and then

builds their dream home. We have some

amazing builders in this area and that makes

solving this challenge very doable.

We have seen tremendous growth in multi-

family properties over the last 3 years with the

expansion of Oregon State University. We

also continue to see growth in our single

family construction since the low of 2010. It

may be a while until we see the large numbers

of brand new homes like we saw available

between 2004-2006.

For more information, refer to the following

charts. If you are interested in finding a new

home or even building your dream home –

feel free to call me. I would be happy to share

more information to help you accomplish your

real estate dreams.

2

Spring

Home Maintenance

Exterior

Clear debris from around the outside air conditioner and remove the cover if applicable.

Pressure wash your home’s exterior and apply touch-up paint as required.

Remove leaves, small branches and debris from gutters and downspouts so that water drains well.

Look for sagging or otherwise damaged gutter components and repair as needed.

Turn on water to outdoor faucets. Turn on irrigation system, check sprinkler heads and make needed repairs.

Clean the screens on roof vents and louvers.

Remove early signs of bird and insect nests from eaves and ledges.

Check foundation walls and wooden areas at or near ground level for signs of termites and other wood boring insects.

TOP 5 HOUSING PREDICTIONS

FOR 2015 – Realtor.comFrom World Property Journal

According to Realtor.com's 2014 Housing

Review, this year demonstrated a steady build-

up of housing momentum - fueled by

significant improvements in economic

fundamentals, low mortgage rates, and

compressed inventory - and is expected to

carry the market into 2015 gains.

"Many of the gains that we recently predicted

in the Realtor.com 2015 Housing Forecast are

built on housing growth established in 2014.

Overall, this year's housing market showed

steady advances over 2013 with significant

improvement in key housing metrics, despite

some remaining challenges," said Jonathan

Smoke, chief economist for Realtor.com.

"Increases in job creation and gross domestic

product (GDP) have had a significant impact

on consumer confidence and home buyer

demand. Paired with historically low interest

rates, these factors kept properties moving

quickly with median time on market at

approximately 90 days. Unfortunately, the low

number of homes for sale and stringent lending

standards prevented a normal number of first

time home buyers from closing on their first

home in 2014."

1. Millennials will drive household formations:

Both population and households have grown at

a slightly higher pace in 2014 and this trend

will continue in 2015 with modest

improvement over this year's increases.

Households headed by millennials will see

significant growth as a reflection of economic

gains. Millennials will also drive two-thirds of

household formations over the next five years.

Next year's addition of 2.75 million jobs and

increased household formation will be the two

key factors driving first-time buyer sales.

2. Existing home sales will increase +8%:

Existing home sales will grow as more buyers

enter the market motivated by a clear belief

that both rates and prices will continue to rise.

The increase in home sales year-over-year will

be similar to 2012, but this time the

composition of properties sold will be more

normal with minimal levels of distressed

properties. While the majority of housing

activity next year will be driven by baby

boomers preparing for retirement, millennials

will account for 65 percent of first-time home

buyer sales in 2015.

3. Home prices will gain +4-5%: Low

inventory levels and demand driven by

improved employment opportunities will push

home prices up next year. While first-time

home buyers have many economic factors

working in their favor, increasing home prices

will make it more difficult to get into high

priced markets such as San Francisco and San

Jose, CA. As a result, first-time home buyer

activity is expected to concentrate in markets

with strong employment and affordability, such

as Des Moines, Iowa, Atlanta and Houston.

4. Mortgage rates will end the year at 5%:

Mortgage rates will increase in the middle of

2015, as the Federal Reserve increases its

target rate by at least 50 basis points before the

end of the year. Thirty-year fixed rate

mortgages will reach 5 percent by the end of

2015. One-year adjustable rate mortgages

(ARMs) will rise minimally. Lower ARM

interest rates will influence an uptick in buyer

interest for adjustable and hybrid mortgages.

While still at historic lows, rate increases will

affect housing affordability for first-timers

trying to break into the housing market and

will be another factor pushing them to less

expensive locales.

5. Home affordability will decrease 5-10%:

Affordability will decline in 2015 by 5-10

percent, based on home price appreciation and

increasing mortgage interest rates. This decline

will be somewhat offset by increasing incomes.

When considering historical norms, housing

affordability will continue to remain strong

next year.

For full article visit:

http://tinyurl.com/pzuwshw

3

Spring

Home Maintenance

Interior

Get your air conditioning system ready for summer; consider having it serviced.

Change or clean HVAC filters.

Check putty around window panes and weather stripping around windows and doors. Fix as needed.

Inspect windows and doors to make sure they function properly. Replace if necessary.

Check window and door screens and replace or repair as needed.

Check locks, latches, and hinges on your doors and windows. Replace or repair as needed.

Inspect your basement or crawlspace for dampness.

Examine caulking around sinks, tubs, and showers. Reapply if necessary.

If you know someone who would like to receive this newsletter, please call me.

Lee EckrothReal Estate Advisor,

Broker, RealtorCNE, C-RIS, e-PRO, GRI

Cell: 541-760-4742

Efax: 541-610-1564

Lee@Talk2Lee.com

www.Talk2Lee.com

Town & Country Realty

455 NW Tyler Ave.

Corvallis, OR 97330

R E T U R N S E R V I C E R E Q U E S T E D

E m p o w e r e d w i t h K n o w l e d g e

I n s p i r e d t o A c t i o n

LEE’S SHOUT OUTS

What is the value of time? What is the value of your time? I spent about a year researching this question. I

determined that we trade our time for experiences. The higher value the experience, the higher the value of

time. Each and every day I am grateful for the time I am blessed with. Thanks to all of you who provide

high value moments.

Jordan and Beth - Congratulations on your awesome first home!

Amanda – Congrats on the sale of Cheshire

Jeff and Val – You are gems! I am so happy for you.

Mark and Melanie – I am so happy you made your magic happen in just 67 days!

Jeanne and Eric – CONGRATS on investment #3!

Deborah and Robert – Thanks so much for your trust and friendship.

Steve and Kristi – So happy for you! I have really enjoyed becoming better friends over the past 6 months.

Rosa and Nick – YOU SCORED!!! Your home is awesome and I am so glad you got it!

Jerry and Anita – Thanks for having me on your team to get your Corvallis property sold. It happened!

OSU – Congratulations on making magic with your first TEDx event. AWESOME!

A special thanks to all my friends and family for returning our recent questionnaires. Because of you, this

newsletter is a reality along with our quarterly maintenance suggestions.