About the Salem Real Estate Market
 The present median home price in the Salem/Willamette Valley is $152,881, which is a 2.6% increase from last year. Total number of sales year to date is 3,907. The average days on market are 122. Homes are selling at 98.1% of list price. The average NEW home sold in the Willamette Valley is a 3 bedroom, 2 bath with 1739 square feet plus a 2- car garage. The average cost per square foot for a NEW home is $101.00 including a 7500 square foot lot. With interest rates so low and inventory so plentiful, there has never been a better time to buy real estate in the Salem/Willamette Valley.
Houses in the $150,000 range and below are being sold fairly rapidly with low interest rates mostly to first-time buyers. This is a sellers market. On the other hand, the higher priced homes are still selling but more slowly and usually with a few price reductions.
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Insurance >Your Life Preserver
Title insurance is like a life preserver on a boat. You will probably never need it, but if you do, you will be very glad that it is there! How does title insurance work, and how does it protect you in the home buying process?
A title search will be ordered before you buy a home, to make sure that the sellers legally own the property, and that no one else has a legal interest in the home. The title company will also check through the ownership records for any liens, easements or other encumbrances on the title. This search should turn up any transactions that may not appear on the public record, such as an unsound transfer that occurred many years ago. Title insurance protects you against future claims against your home.
Your real estate agent can give you more specific information about the cost of title insurance and the types of coverage available in your area.
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What does the common acronym FSBO (pronounced fizzbo) stand for?
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| A |
For Sale By Owner. (Between 85 to 95% of existing homes are sold with a Realtor's help.)
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- NUMBER1EXPERTS™ 
