How to build a house in Salem Oregon

As you drive around Salem you see something happening that hasn’t happened or been seen in a few years.  That new phenomenon is NEW CONSTRUCTION.  Seriously, you probably don’t pay attention to these things like I do but it started towards the end of last year that I noticed actual fresh 2x4s stacked up in front of a lot and dirt being moved around.

There are currently 81 NEW construction homes on the market currently.  Not all of them are finished but there is plenty to choose from.  See listings here!

I think this is a tell tale sign that a change is in the air.  Finished lots that were 100k 5 years are now on the market for $20k to $35k.  Yes, we have a few lots listed in NW that were purchased by the builder in 2008 for $95 and 1 of the lots is currently on the market for $29k.  Finished, ready to build.  Crazy.  But, what is happening now is builders are starting to call.  We had 3 builders look at the lots last week alone.

It is so interesting to have lived through this real estate cycle.  To go from the frenzy of anything and everything selling and at crazy high prices to absolutely nothing where foreclosure, short sale and REO was the only thing that sold to now multiple offers and builders building.

I don’t think that we are out of the woods and things will be rosie from here on out but one thing is for certain people are looking.  Our phone is ringing buyers are responding to our ads, our website is active, even our open houses have traffic.  With a 15 year loan in the mid 2% range how can you not want to take advantage of this Perfect Storm .

 If you are thinking about getting into the market either by selling, buying, investing or even building please give us a call to discuss.  Doesn’t hurt to know what is available to you!