Inviting Options in Dynamic Locale
The real estate market in Salem currently offers to potential homebuyers a choice of 470 foreclosure listings and properties at the median listed price of $166,213. Besides, the Salem real estate listings auctions include a much higher number of 1,458 other MLS and FSBO homes on sale, at the median quoted price of $248,000. This graphically illustrates the key reason for the immense popularity of the foreclosure auctions with aspiring homebuyers, viz. the amazing discounts that seized homes are offered at. In Salem, the foreclosed homes enjoy a discount of about 35 percent over the other properties that are governed by market prices.
Salem is the county seat of Marion County and the capital of the US state of Oregon. The city lies in the heart of the Willamette Valley by the river Willamette that passes through it. Salem is next only to Portland and Eugene in being the most populated city in the state. Salem is the core city of the Salem MSA {metropolitan statistical area}, which spreads across the Marion County and Polk County. Counties adjacent to Marion County in the state of Oregon are Linn County, Jefferson County, Polk County, Wasco County, Yamhill County and Clackamas County.
Salem’s diverse suburbs include the incorporated cities of Hubbard, Aumsville, Idanha, Aurora, Jefferson, Detroit, Keizer, Donald, Mount Angel, Gates, St Paul, Gervais, Scott Mills, Independence, Hubbard, Silverton, Woodburn, Stayton, Turner and Sublimity. Additionally, Salem has in the vicinity the unincorporated communities of Brooks, Donald, Falls City, Four Corners, Jordan, Hayesville, Marion, Labish Village, Mehama, Pratum, Monitor, Saint Louis, Monmouth, Zena, Saint Benedict and West Stayton.
Millions of Nationwide Government Foreclosures
The spate of government foreclosures occurring in the US in recent years has left the dispossessed homeowners in misery, caused mammoth bailout economic packages to be released, and played havoc with stock markets the world over. With hindsight, it would appear that a minor financial miscalculation by the buyers resulted in such a dismal scenario. As a real estate market analyst has observed, buyers who defaulted on a loan installment of $2,500 would have easily found a recurring payment of $1,500 within their means.
However, on the bright side, the foreclosure auctions offer intending homebuyers a rare opportunity to purchase gorgeous houses at a fraction of their usual market prices. Indeed, the stupendous numbers of foreclosed homes being auctioned in almost every city and town in the US, along with the available easy mortgage finance and sliding interest rates and home prices, have sent buyers eagerly bidding for alluring property options.
The Salem real estate market has its share of property brokers as well. Phillip Currie, Bob Knight, Pam Mc Carthy and George Gerspacher rank among the city’s prominent agents. A veteran agent can secure your financial interests at the property auctions and help you to make a money-spinning financial investment. Hence, your home search should commence with the hunt for a truly competent and responsive agent. This has acquired added importance in view of the ongoing tempestuous market times.
