At BST Realty LLC, we love supporting our community. That includes local businesses that make everyone’s lives even more rich. The Willamette Valley Pie Company is one of those great places that offers fresh berries, sweet desserts, and much more. You may notice their berries in stores around town, but they also have the cutest store that’s situated in the countryside. There, you’ll find so many tasty treats – be it savory or sweet. Supporting local just means for a sweeter summer. What are some places that you like to go when you’ve got a sweet tooth?
The Willamette Valley Pie Company’s store has kitchenware, spices and sauces, pies…you name it. And, at the counter you can also order a coffee with your favorite slice of pie that’s on the menu. You can also take your food outside and enjoy the sunshine at a picnic table. There is also play equipment for children. The setting is truly beautiful and the skies expansive. There are so many delicious options around including Beloved Cheesecakes in Silverton or Gerry Frank’s Konditorei in Salem. The Wicked Sweet Bakery in Keizer will be opening up on September 1st, so that’s another place to go for a sweet selection.
As a local business ourselves, we understand how important it is to support one another. When it comes to real estate, we provide simply the best service, which means we also make the journey for you that much sweeter. We get that sometimes starting the whole process may feel overwhelming, but it doesn’t have to be. That’s why we are here to make sure you have the smoothest and most enjoyable experience possible. We love being able to help others reach their goals. When we see our clients thrive, it’s just icing on the cake. Give us a call, and let’s see how we can make the real estate journey as easy as pie!
Where the road takes you in real estate may be a bit uncertain, but that’s okay. We are here to help you figure out the best way to navigate through the entire process. It’s actually still about the journey rather than the destination. Because the journey usually determines where you end up. Our agents are experts at understanding the terrain when it comes to real estate. Sometimes there may be a bumpy road, but we’re here to make it more smooth. We are here to help alleviate any kind of stress you may be feeling. Because our ultimate goal is to help people achieve their real estate dreams.
Think of us as an advocate and a cheerleader all in one. Our agents are fierce negotiators. At BST Realty LLC, we listen deeply to what you have to say because your values and goals are important. We want to make sure that we’re providing simply the best service to get you to where you want to be. In fact, we won Best Real Estate Company in the Willamette Valley for 2021. So, of course, must continue upholding that type of quality service. As far as the cheerleader role is concerned, we also love to celebrate wins with our clients! It’s lovely when all the pieces come together, and our clients are happy. Because, after all, when our clients flourish, we do, too.
Even though summer is winding down a bit, it’s always a good time to explore possibilities in real estate. Whether you’re a Buyer or a Seller, there are great resources we can connect you with. It’s also a good time to make a plan for what the future may look like. Perhaps that means getting a lender or determining the value of your home. Or, perhaps you’re ready to make the leap because now’s the time! Either way, we will do simply our best in helping you achieve your real estate goals and make them a reality! Give us a call, and let’s get started on this journey together.
When you’re somewhere completely new, it may be a bit overwhelming. Picture that you’re in the forest, a place you haven’t gone before. You may think to yourself…are there bears around the corner? Now, picture going to a trailhead you frequent, you’re not as uncertain as to what is around the bend. You’re more comfortable, and perhaps there are even some favorite parts to the trail you look forward to, and maybe you even take it faster sometimes to shake things up a bit. New things can sometimes feel scary. When it comes to real estate, some people feel the same way when they’re new to the game. It’s okay, you have simply the best guide on your side when you’re with us.
Your Home Pathway
At BST Realty LLC, we are here to make sure you know where all the bumps in the road and wonderful spring waters are located. We want to make sure you have a pleasant journey and get to where you want to be. Think of us as a trail guide. We’ve been down this type of path before, and we know what to look out for and what supplies to bring. For example, if you’re a first-time home buyer, we can be a resource to you for connecting you with lenders, contractors, and much more. We love being helpful, and a big part of our job is to make sure that the process is as smooth as possible.
If you’re a seller, perhaps you want a broker who truly understands the value of your home and how to best make it shine. If don’t want to feel stuck in the woods, have no fear, we are here to help guide you! Our agents are also expert negotiators. We are here to help advocate for you in simply the best possible way. Because, at the end of the day, we just love helping people.
It has become mighty hot out there. In the Willamette Valley, we’ve got some pretty great recreation spots to choose from to try and beat the heat. If you’re looking for a good swimming hole, then look no further than Coolidge McClain Park in Silverton. There are even some handy life vests to help you stay afloat while you’re cooling off. Of course, there are many more places like the wonderful Keizer Rapids Park where you can take your boat out and enjoy the water. At BST Team Realty LLC, we love helping clients figure out where they want to be, and we are experts at knowing what the Willamette Valley has to offer and beyond.
Silver Falls State Park is a good place to visit, too. It’s a higher elevation, which usually means it is a bit cooler than other areas. And, of course, there’s the chance of getting some of that lovely waterfall spray to cool you off. It can sometimes get busy, so you can also hit the backcountry horse trail. It doesn’t have waterfalls, but it is quite serene, and you may even see some majestic horses moseying about the trail. You can also explore even further out to Butte Creek Falls. This is a place of even more serenity and solace that’s a jaunt from Scotts Mills. When it comes to the Willamette Valley, there are so many things to do!
If you’d like to cool off with a brew, then Silver Falls Brewery in Silverton or Gilgamesh Brewing in Salem may be places you want to check out. If you’re thinking ice cream is more up your alley, then the Silverton Coffee Station may have what you’re looking for. There are many ways to beat the heat! At BST Realty LLC, we are so thankful for our local community. Being a local business ourselves, we love supporting one another. And, when our clients flourish, we flourish. If you’re in the market of buying or selling real estate, we will do our very best to serve you!
Are houses less affordable than in years past? There are many headlines about how housing affordability is declining. The headlines are correct: it’s less affordable to purchase a home today than it was a year ago. However, it’s important to give this trend context. Is it less expensive to buy a house today than it was in 2005? What about 1995? What happens if we go all the way back to 1985? Or even 1975?
Obviously, the price of a home has appreciated dramatically over the last 45 years. So have the prices of milk, bread, and just about every other consumable. Prices rise over time – we know it as inflation.
However, when we look at housing, price is just one component that makes up the monthly cost of the home. Another key factor is the mortgage rate at the time of purchase.
Let’s look back at the cost of a home over the last five decades and adjust it for inflation by converting that cost to 2021 dollars. Here’s the methodology for each data point of the table below:
Mortgage Amount: Take the median sales price at the end of the second quarter of each year as reported by the Fed and assume that the buyer made a 10% down payment.
P&I: Use a mortgage calculator to determine the monthly principal and interest on the loan.
In 2021 Dollars: Use an inflation calculator to determine what each payment would be when adjusted for inflation. Green means the homes were less expensive than today. Red means they were more expensive.
As the chart shows, when adjusted for inflation, there were only two times in the last 45 years that it was less expensive to own a home than it is today.
Last year: Prices saw strong appreciation over the last year and mortgage rates have remained relatively flat. Therefore, affordability weakened.
2010: Home values plummeted after the housing crash 15 years ago. One-third of all sales were distressed properties (foreclosures or short sales). They sold at major discounts and negatively impacted the value of surrounding homes – of course homes were more affordable then.
At every other point, even in 1975, it was more expensive to buy a home than it is today.
So, are houses less affordable than before? If you want to buy a home, don’t let the headlines about affordability discourage you. You can’t get the deal your friend got last year, but you will get a better deal than your parents did 20 years ago and your grandparents did 40 years ago.
It’s been an interesting year, and the world keeps on changing along with the real estate market. Since that’s the case, it makes it that much more important to get the support you need from your real estate broker. It’s good to take some time to reflect on not only how the world may have changed a bit, but how your lifestyle has as well. Perhaps you find yourself working at home more, and you’d like a dedicated office space. Or, maybe your family situation has changed, and you’re looking for a smaller or bigger home to accommodate your needs. Either way, we are here to listen and guide you at every step in the real estate journey. Take some time to have your best reflection of yourself, and see what you find. We’ll help you achieve your goals to get you where you want to be.
Sometimes it’s tough to reflect. Because we get caught up in the “busyness” of the world. However, when you take that moment, you may begin to realize something. You may actually begin listening to yourself rather than others. And, it’s most important to make sure whatever pathway you are choosing, it’s the one for you. After all, we are most fulfilled when we can be most ourselves. At BST Realty LLC, we are here to make sure that your wants and needs are heard, so that way we can better guide and support you. In the end, it will be you residing in your home, so think about what that would look like. Do you like to entertain? Do you like solace with a good book for hours? Or, perhaps both.
We get that lifestyles change because life is change. And, we will get the information and resources you need in order to make the most informed decision. It’s actually a win-win for all. We absolutely adore it when our clients flourish, because that means we do, too. Give us a call, and let’s take some time to reflect upon what your dream home make look like.
Sometimes it can feel like everyone has advice when it comes to buying a home. While your friends and loved ones may have your best interests in mind, they may also be missing crucial information about today’s housing market that you need to make your best decision.
Before you decide whether you’re ready to buy a home, you should know how to answer these three questions.
1. What’s Going on with Home Prices?
Home prices are one factor that directly impacts how much it will cost to buy a home and how much you stand to gain as a homeowner when prices appreciate.
The graph below shows just how much experts are forecasting prices to rise this year:Continued price appreciation is great news for existing homeowners but can pose a significant challenge if you wait to buy. Using these forecasts, you can determine just how much waiting could cost you. If prices increase based on the average of all forecasts (12.46%), a median-priced home that cost $350,000 in January of 2021 will cost an additional $43,610 by the end of the year. What does this mean for you? Put simply, with home prices increasing, the longer you wait, the more it could cost you.
2. Are Today’s Low Mortgage Rates Going To Last?
Another significant factor that should inform your decision is mortgage interest rates. Today’s average rates remain close to record-lows. Much like prices, though, experts forecast rates will rise over the coming months, as the chart below shows:Your monthly mortgage payment can be significantly impacted by even the slightest increase in mortgage rates, which makes the overall cost of the home greater over time when you wait.
3. Why Is Homeownership Important to You?
The final question is a personal one. Before deciding, you’ll need to understand your motivation to buy a home and why homeownership is an important goal for you. The financial benefits of owning a home are often easier to account for than the many emotional ones.
The 2021 National Homeownership Market Survey shows that six of the nine reasons Americans value homeownership are because of how it impacts them on a personal, aspirational level. The survey says homeownership provides:
A Sense of Accomplishment
A Life Milestone
A Stake in the Community
The National Housing & Financial Capability Survey from NeighborWorks America also highlights the emotional benefits of homeownership:Clearly, there’s a value to homeownership beyond the many great financial opportunities it provides. It gives homeowners a sense of pride, safety, security, and accomplishment – which impacts their lives and how they feel daily.
Homeownership is life-changing, and buying a home can positively impact you in so many ways. With any decision this big, it helps to have a trusted advisor by your side each step of the way. If you’re ready to begin your journey toward homeownership, let’s connect to discuss your options and begin your journey.
At BST Realty LLC, we are here to serve you and your real estate needs. We know that sometimes it’s hard to get started on a dream or goal you may have. That’s why we are here. We are here to help guide you through the real estate process and make your dreams blossom into a reality. Whether you’re a first-time home Buyer or an experienced Seller, we can adapt and change to your needs. It’s because we’re experts when it comes to real estate, and we love it when our clients flourish.
Investment and Property Management Services
We also specialize in investment properties as well as property management services. Our motto is that we will treat your property as if it was our own and keep you informed when it comes to the changing landscape of property management. We get that it’s tough to juggle all the things that life has to offer, and that’s why we are here. Think of us as a guiding compass to help get you to where you want to go.
We have a stellar reputation and were voted Best Real Estate Company in the Willamette Valley for 2021 this year. We are grateful for that award. In fact, it only makes us want to try harder and achieve higher levels of excellence to serve as a model for how real estate should be conducted. This also applies to supporting our community. After all, we are a local business, so supporting local is just naturally something we do.
So, if you’re in the market, we’ve got you covered and then some. We may even have some fun along the way. Our agents are experts in the field and will serve you in simply the best ways possible when it comes to achieving your dreams. Let’s get started and make your dreams blossom into what you’ve been waiting for!
As we move into the second half of the year, one thing is clear: the current real estate market is one for the record books. The exact mix of conditions we have today creates opportunities for both buyers and sellers. Here’s a look at four key components that are shaping this unprecedented market.
“In June, newly listed homes grew by 5.5% on a year-over-year basis, and by 10.9% on a month-over-month basis. Typically, fewer newly listed homes appear on the market in the month of June compared to May. This year, growth in new listings is continuing later into the summer season, a welcome sign for a tight housing market.”
This is good news for buyers who crave more options. But even though we’re experiencing small gains in the number of available homes for sale, inventory remains a challenge in most states. That’s why it’s still a sellers’ market, giving homeowners immense leverage when they decide to make a move.
Buyer Competition and Bidding Wars
Today’s ongoing low supply, coupled with high demand, creates a market characterized by high buyer competition and bidding wars. Buyers are going above and beyond to make sure their offer stands out from the crowd by offering over the asking price, all cash, or waiving some contingencies. The number of offers on the average house for sale broke records this year – and that’s great news for sellers.
The latest Confidence Index from the National Association of Realtors (NAR) says the average home for sale receives five offers (see graph below):For buyers, the best way to put a compelling offer together is by working with a local real estate professional. That agent can act as your trusted advisor on what terms are best for you and what’s most appealing to the seller.
Home Price Appreciation
The competition among buyers is driving prices up. Over the past year, we’ve seen home price appreciation rise across the country. According to the most recent Home Price Index (HPI) from CoreLogic, national home prices increased 15.4% year-over-year in May:
“The May 2021 HPI gain was up from the May 2020 gain of 4.2% and was the highest year-over-year gain since November 2005. Low mortgage rates and low for-sale inventory drove the increase in home prices.”
Rising home values are a big part of why real estate remains one of the top sought-after investments for Americans. For potential sellers, it also means it’s a great time to list your house to maximize the return on your investment.
A Rise in Home Values and Equity
The equity in a home doesn’t just grow when a homeowner pays their mortgage – it also grows as the home’s value appreciates. Thanks to the jump in price appreciation, homeowners across the country are seeing record-breaking gains in home equity. CoreLogic recently reported:
“…homeowners with mortgages (which account for roughly 62% of all properties) have seen their equity increase by 19.6% year over year, representing a collective equity gain of over $1.9 trillion, and an average gain of $33,400 per borrower, since the first quarter of 2020.”
That’s a major perk for households to leverage. Homeowners can use that equity to accomplish major life goals or move into their dream homes.
If you’re thinking about buying or selling, there’s no time like the present. Let’s connect to talk about how you can take advantage of the conditions we’re seeing today to meet your homeownership goals.
Over the past year, many homeowners realized what they need in a home is changing, especially with the rise in remote work. If you’re longing for a dedicated home office or a change in scenery, now may be the time to find the home that addresses your evolving needs.
Working from Home Isn’t a Passing Fad
Before the pandemic, only 21% of individuals worked from home. However, if you’ve recently discovered remote work is your new normal, you’re not alone.
A survey of hiring managers conducted by Statista and Upwork projects 37.5% of U.S. workers will work remotely in some capacity over the next 5 years (see chart below):
Working from Home Gives You More Flexibility and More Options
If you fall in that category, working from home may provide you with opportunities you didn’t realize you had. The ongoing rise in remote work means a portion of the workforce no longer needs to be tied to a specific area for their job. Instead, it gives those workers more flexibility when it comes to where they can live.
If you’re one of the nearly 23% of workers who will remain 100% remote, you have the option to move to a lower cost-of-living area or to the location of your dreams. If you search for a home in a more affordable area, you’ll be able to get more house for your money, freeing up more options for your dedicated office space and more breathing room. You could also move to an area you’ve always dreamed of vacationing in – somewhere near the beach, the mountains, or simply an area that features better weather and community amenities. Without your job tying you to a specific location, you’re bound to find your ideal spot.
If you’re one of the almost 15% of individuals who will havea partially remote or hybridschedule, relocating within your local area to a home that’s further away from your office could be a great choice. Since you won’t be going into work every day, a slightly longer commute from a more suburban or rural area could be a worthy trade-off for a home with more features, space, or comforts. After all, if you’ll still be at home part-time, why not find a home that better suits your needs?
“. . . after years of apparent but variant trends towards urbanization, the pandemic universally caused a movement away from urban cores,particularly for those with higher incomes who could afford to move and for lower-income individuals seeking lower costs of living.”
If you’ve found what you’re looking for in a home has changed due to remote work, it may be time to make a move. We have simply the best team. Let’s connect today to start prioritizing your home needs.