Keller Williams Mid Willamette real estate agent

Keller Williams Mid Willamette real estate agent
Steve Frisbie is a licensed real estate agent in the State of Oregon. REALTOR®. Equal Opportunity Housing Provider. Each office is independently owned and operated.

Wednesday, February 19, 2020

How much can a mortgage change at different interest rates?

Basically, the higher your interest rate goes, the more your mortgage is going to run.  This graphic compares a 250k mortgage payment at historic rates versus today 's (more or less, it can change daily) rates.

Tuesday, February 18, 2020

There are some financial advantages to buying a home rather than renting...

The Overlooked Financial Advantages of Homeownership

The Overlooked Financial Advantages of Homeownership | MyKCM

There are many clear financial benefits to owning a home: increasing equity, building net worth, growing appreciation, and more. If you’re a renter, it’s never too early to make a plan for how homeownership can propel you toward a stronger future. Here’s a dive into three often-overlooked financial benefits of homeownership and how preparing for them now can steer you in the direction of greater stability, savings, and predictability.

1. You Won’t Always Have a Monthly Housing Payment

According to a recent article by the National Association of Realtors (NAR):
“If you’ve been a lifelong renter, this may sound like a foreign concept, but believe it or not, one day you won’t have a monthly housing payment. Unlike renting, you will eventually pay off your mortgage and your monthly payments will be funding other (possibly more fun) things.”
As a homeowner, someday you can eliminate the monthly payment you make on your house. That’s a huge win and a big factor in how homeownership can drive stability and savings in your life. As soon as you buy a home, your monthly housing costs will begin to work for you as forced savings, coming in the form of equity. As you build equity and grow your net worth, you can continue to reinvest those savings into your future, maybe even by buying that next dream home. The possibilities are truly endless.

2. Homeownership Is a Tax Break

One thing people who have never owned a home don’t always think about are the tax advantages of homeownership. The same piece states:
“Both the interest and property tax portion of your mortgage is a tax deduction. As long as the balance of your mortgage is less than the total price of your home, the interest is 100% deductible on your tax return.”
Whether you’re living in your first home or your fifth, it’s a huge financial advantage to have some tax relief tied to the interest you pay each year. It’s one thing you definitely don’t get when you’re renting. Be sure to work with a tax professional to get the best possible benefits on your annual return.

3. Monthly Housing Costs Are Predictable

A third item noted in the article is how monthly costs become more predictable with homeownership:
As a homeowner, your monthly costs are most likely based on a fixed-rate mortgage, which allows you to budget your finances over a long period of time, unlike the unpredictability of renting.”
With a mortgage, you can keep your monthly housing costs steady and predictable. Rental prices have been skyrocketing since 2012, and with today’s low mortgage rates, it’s a great time to get more for your money when purchasing a home. If you want to lock-in your monthly payment at a low rate and have a solid understanding of what you’re going to spend in your mortgage payment each month, buying a home may be your best bet.

Bottom Line

If you’re ready to start feeling the benefits of stability, savings, and predictability that come with owning a home, let’s get together to determine if buying a home sooner rather than later is right for you.

Monday, February 17, 2020

Sunday, February 16, 2020

Should I wait before buying a house....

This video is actually from last year, but prices are still rising and the video still applies...

Some of the best reasons to wait on a home purchase are paying down debt and building up a down payment, but waiting to buy because prices may go down backfires quite often. If you are paying rent, perhaps it's worth your while to compare it to what a house will cost to buy. There are low to no down payment options available to many people nowadays, maybe it's time to think about purchasing a new home. If you have questions, contact me and we can work the numbers and see if home buying is something that works for you.

Saturday, February 15, 2020

Do you need a fan in your bathroom?

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Friday, February 14, 2020

Are home prices expected to go up or down?

Should I wait to sell my house?

The #1 Reason to List Your House Right Now

The #1 Reason to List Your House Right Now | MyKCM

The success of the U.S. residential real estate market, like any other market, is determined by supply and demand. This means we need to look at how many potential purchasers are in the market versus the number of houses that are available to buy. With early 2020 housing data now rolling in, it’s quite evident there are two big stories impacting this year’s residential real estate market:
1. Buyer demand is already extremely strong
2. Housing supply is at a historically low level


ShowingTime is a firm that compiles data from property showings scheduled across the country. The latest ShowingTime Showing Index reveals how showings have increased in each of the country’s four regions for five months in a row.

Supply also just released information indicating that the number of homes currently for sale has declined rapidly and now sits at the lowest level in almost a decade. They explained,
“National housing inventory declined 13.6 percent in January, the steepest year-over-year decrease in more than 4 years, pushing the supply of for sale homes in the U.S. to its lowest level since began tracking the data in 2012.”
In response to these numbers, Danielle Hale, Chief Economist at, said,
"Homebuyers took advantage of low mortgage rates and stable listing prices to drive sales higher at the end of 2019, further depleting the already limited inventory of homes for sale. With fewer homes coming up for sale, we've hit another new low of for sale-listings in January."
The decrease in inventory impacted every price range, too. Here’s a graph showing the data released by #1 Reason to List Your House Right Now | MyKCM

Bottom Line

Since there’s a historic shortage of homes for sale, putting your home on the market today could drive an excellent price and give you additional negotiating leverage when selling your house. Let’s get together to determine if listing your house now is your best move.

Here are some inexpensive garage storage ideas....

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Thursday, February 13, 2020

Here's some statistics on Corvallis and North Albany home sales in 2019...

I received this graphic from AmeriTitle and thought I'd pass it along...

 An important number on there is the median days on market. That means half the homes on the market took longer, half were sold faster.  At 56/57 days that's pretty impressive, especially considering that number typically includes the closing process which can often take 30 days or more.  If you are putting your home up for sale in Corvallis or North Albany, be prepared to have it sell quickly.

Tuesday, February 11, 2020

How do I sell my home quickly?

This video shares some good ideas on selling a home quickly.

  Access - Many buyers will be wary if they can not get into a property.  Access can begin with the MLS listing, get as many professional photos (I work with a photographer) as the MLS allows on the listing, and ensure the listing is complete and accurate. After that, the easier it is to show a home, the easier it'll be to get buyers through the front door.  Homes can and do get under contract without pre-offer showings on occasion, but homes with good access typically generate more interest more quickly.

  Staging - Staging doesn't necessarily have to go all out in our market right now, but clean and clutter free will do a lot to help a home sell. On slower moving or high end properties, proper staging can make a big difference. Clean is a priority for any home.  I'm happy to take look at homes and provide suggestions to help them sell quicker. I also have access to professional home stagers if needed.

  Price to sell - This doesn't mean you need to give away the farm, but you should be pricing your property at or just slightly below (in hopes of generating multiple offers) market price if you want it to move.  Buyers will generally not pay above market price for a property, while many sellers will have emotional attachments to their property and have a tough time letting a property go for what is market price at that moment. Market prices can change fast these days, and online pricing resources aren't necessarily spot on, in some cases quite off, and being a local Realtor, I can help narrow down the price correctly.  Even if a seller is willing to listen to offers, properties priced too high can actually scare off offers, and if a home that is overpriced sits too long, a price drop may not help it generate a lot of new buyer activity, so it's best to be priced in the correct range from the get-go.

  My goal is to get you the best possible price, as quickly as possible.


Looks like homeownership rates are back on the rise....

Here's a recent post from Keeping Current Matters:

Homeownership Rate on the Rise to a 6-Year High

Homeownership Rate on the Rise to a 6-Year High | MyKCM

Homeownership Rate on the Rise to a 6-Year High | MyKCMRegardless of the lack of inventory on the market, the U.S. homeownership rate has climbed to a 6-year high. The United States Census Bureau reported that it increased to 65.1% in the fourth quarter of 2019, representing the highest level in the past six years. See the graph below:This increase does not come as a surprise. According to,
“The largest cohort of the millennial generation turns 30-years-old in 2020 and they are hitting the housing market in full force. At the end of the fourth quarter of 2019, millennials made up the largest generational segment of homebuyers, growing their share of home purchase mortgages to 48 percent.”
With so many Millennials entering a homebuying phase of life and getting into the market, the Millennial Report also explains,
“Homeownership is an even bigger goal for younger generations. Of those with savings, 41 percent of Gen Z and 40 percent of younger millennials are saving to buy a home.”
Today’s low interest rates are providing a break to new homeowners too, regardless of generation, making homeownership more desirable and achievable at the same time. Freddie Mac explains,
“The combination of very low mortgage rates, a strong economy and more positive financial market sentiment all point to home purchase demand continuing to rise over the next few months.”
The increase in homeownership rate was also represented by race and ethnicity of the householders. HousingWire explains,
“The homeownership rate for black Americans in 2019’s fourth quarter rose to 44%, a seven-year high, increasing from the record low it reached in 2019’s second quarter. The rate for Hispanic Americans was 48.1%, a two-year high, the Census data showed…The rate for white Americans was 73.7%, an eight-year high.”
Homeownership Rate on the Rise to a 6-Year High | MyKCMSee the graph below:

Bottom Line

If you’re considering buying a home this year, let’s get together to set a plan that will help you get one step closer to achieving your dream.