Mike Middaugh at KW

Mike Middaugh at KW Search for Mid- Willamettte Homes. If I can help you with anything about your home or Real Estate in general please let me know. Happy to Help


Well the Corvallis real estate is still pumping a long. What i am noticing is it seems that there is still a wide range of price ranges to choose from in the Corvallis area. Although it seems to me we are getting a few more listing in the NW Corvallis with the price range a little higher that most but still selling very quickly.

Guess we will see if the fed raises the rates in Dec. Still a good time to get a loan before they start to rise.
If you have any question about real estate please feel free to ask



Good Morning
Well along with the beautiful colors of fall the real estate market
is starting to slow down a little as people settle in to the regular
routine of fall. With summer over and kids back in school people are now getting ready for the Holiday Season.
But most people don't realize the real estate market does not stop. There are still a lot of buyers and sellers out there. It does
slow a little but that can be good for both buyers and sellers.
buyers have less competition and seller know that they have real buyer not so many people just looking around.

Happy Holidays



Oct 8th and we have more inventory than we have had in a long time.


How’s the Corvallis Oregon Real Estate Market? Statistics January 2015
February 11, 2015 by Dava Behrens Leave a Comment
The story for the current market is little available inventory.
It’s a seller’s market!

Fewer sales closed in the 12 months preceding January 2015 than in comparison to the 12 months preceding January 2014. It’s a modest drop and appears to be a direct result of lack of available homes for buyers to purchase. Inventory is down a whopping 38% over this same time a year ago. That is a substantial difference. Average sales price is up 1.3% a modest number, especially when you factor in the average price per square foot is the same at $157.00/sf, it’s the size of the average home that has increased, up to 1927sf from 1903 a year ago. Average days on market has increased a modest 3 days. Insignificant in the big picture.

Bottom line the big picture is that there is very little on the market.
Corvallis Real Estate Market Statistics January 2015

It’s good to have an understanding of market trends and what’s happening in the market at any given time. However, it’s not a good idea to try to apply those averages to an individual property. If you’re thinking of selling or buying, get in touch. I’ll help you put the market into perspective in reference to your individual home or situation.


Found on CNN

#4 Corvallis , Or

Median home price: $224,000
Drop since market peak: 11.4%
Forecast gain through 2013: 13.2%

The economic fortunes of the Corvallis area are closely tied to Oregon State University, which not only hires a lot of workers but has also spawned a handful of local businesses.

Recently, the local economy has been on an upswing. The unemployment rate has fallen by nearly one percentage point in the past year to 6.1%. And enrollments at the university climbed by 8% and 5% over 2010 and 2011, respectively, boosting demand for rental units.

That has created an opportunity for real estate investors, who are buying up homes priced below the median level and renting them out to college students, said Jimmy Yang, an associate professor of finance at Oregon State

Supply is limited though, according to Stuart Conser of Conser Realty. Smart growth initiatives aimed at preserving open spaces put limits on development in certain parts of town. With fewer new homes being built, it should put upward pressure on pricing.

#5 Eugene , Or


Holiday Season.
People think winter is not a good time to buy or sell ?
A. There are less buyers, but if they are looking in winter, they are looking to buy not just look around.

B. Selling in winter is good, The people looking are looking to buy.

People worry about the Holidays, Buy people will not bother you the week of the holidays.

Closing will be most likely January anyway.


Rates "DROP"
Good time to buy before they go back up.
Good time to sell while there are buyers with the low rates !


1. Federal Reserve Policy. There are two actions the Fed can take that affect interest rates. First, the Federal Reserve can change the Federal Funds Rate by altering short-term treasury securities investment levels. When the Fed purchases more bonds, mortgage rates tend to go down and vice versa. When the Fed talks about raising interest rates, they are talking about the Federal Funds Rate, which is the rate banks charge each other to borrow money (known more commonly as interbank lending). Currently the Federal Funds Rate is practically at zero percent and has been there for a while. The Fed has stated that this rate is likely to rise within the next year.

The second action the Fed takes that affects interest rates is the purchasing of assets, such as long-term treasury securities and mortgage-backed securities, which historically has not been part of monetary policy. However, the Fed has been slowly reducing its purchases of these types of assets and has stated it will cease all purchase activities next month.

2. Bond and Treasury Investments. Bond purchases are not exclusive to the Federal Reserve. Private investors can also purchase bonds. When more bonds are purchased, prices rise and the yield (the amount of return an investor will realize on a bond) goes down. This matters because mortgages are essentially bonds and their rates compete with the rates of other investments. If the interest rate on bonds decreases, that downward pressure is applied to mortgage rates and they fall as well. Recent increased purchases of these short-term investments are likely due in part to the volatility in foreign markets, which is driving funds into U.S. treasuries, thus lowering the yield. As global affairs stabilize, money is likely to move out of U.S. markets and drive interest rates up.

3. Mortgage-Backed Securities. A mortgage-backed security is an investment tied to mortgages. Private banks sell mortgages to Government Sponsored Enterprises (GSEs), which then bundle multiple loans and sell them to investors as mortgage-backed securities. These long-term investments affect the market because as demand increases, banks have incentive to create more supply, which puts downward pressure on interest rates.

4. Housing Market Activity. When the housing market is strong, there is more demand for home loans and banks can charge higher rates. This is a classic example of supply and demand. The current housing market is balanced and healthy with indicators pointing toward more development in the future.

5. Current U.S. Economic Climate. When the economy is strong, people have more money to spend. Slow economic activity at the beginning of 2014 coupled with the fact that inflation levels remain below the target of 2 percent, have likely had some downward effect on mortgage rates by boosting the real return of given nominal rates. The economy is expected to continue a steady pace for the remainder of 2014.

Although your clients may be tempted to wait for rates to fall, there is no guarantee they will. Historically, rates have been much higher and most indicators suggest they will rise soon. Compared with the average 30-year rate from 1990-2004 of 6.7 percent, 4.1 percent doesn’t look bad. Although there are no guarantees, evaluating and understanding the five factors above will allow you to provide an informed prediction as to which way interest rates will shift.


The aha: Don’t Wait to Buy or Sell. Rates Are Expected to Rise

Mortgage rates are more than just the interest rate on a homeowner’s mortgage. Understanding how they are determined and what affects them can help your clients make more informed real estate decisions. Many people think mortgage rates are controlled by the Federal Reserve and can be arbitrarily turned up or down at any given time. While the Fed affects the rates, it does not act alone. Here are the five main factors that affect mortgage rates:


The Facts: Mortgage Rates Are Down

Earlier this year, it was anticipated that rates would be higher now than they are. However, despite a slight increase in rates over the summer, the current rate for a 30-year fixed-rate mortgage is 4.19 percent according to Freddie Mac. What is the mystery behind these historically low rates and what does this mean for your clients looking to buy or sell now?



ust want to though my two cents out.
Anybody wanting to buy or sell a house it is a good time for ether one.
#Sellers there are plenty of buyers out there and in the corvallis ,albany area they are great asking price or very close.
#Buyers it's a good time before rates go up like they are starting to talk about. Believe or not out local inventory has increased.
Just saying !!!


Hate to say it but get ready for fall " WOW" too soon

14 winter-prep tips for your lawn and garden
A little attention to your landscape in the fall can make it look great the rest of the year. Time to get mulching.
You might think getting your lawn and garden ready for winter is as simple as Robert Frost's line to his apple trees: "Good-by, and keep cold." But not if you want them to be their healthiest come spring. In many parts of the country, now — that is, before it gets too chilly — is prime time to tend to your landscape so it will shine the rest of the year.

Here's what the experts advise to make your plants the envy of the neighborhood:

1. Feed that lawn! "Right now, it's key to work on your lawn," says Jim Welshans, regional turfgrass educator at Penn State University. In fact, despite what many people might think, autumn, not spring, is perhaps the most vital time in many parts of the country. Welshans explains: "In Pennsylvania we grow cool-season grasses, and during the summer they're not very active." Come autumn, however, they revive.

Lawns with these cool-weather grasses — Kentucky bluegrass, fescues, perennial ryegrass — should be fertilized in two waves, say Welshans and others. The first application, from mid to late September in places like Pennsylvania, should be a fertilizer that's high in nitrogen. The second application, roughly about Thanksgiving but before the ground is frozen, should be a fertilizer that's high in phosphorus, which will prepare that plant for next year, says Welshans. (Exact timing for all the advice in this story will vary depending on where you live. A good way to determine if you're giving your lawn what it needs is to get a soil test. It will give you information like soil pH and nutrient levels, and provide recommendations for fertilizer amounts.)

Bob Mugaas, a regional extension educator in horticulture who's affiliated with the University of Minnesota, recommends modest application of nitrogen during the first couple of weeks in September, and a repeat application around Halloween in the Twin Cities area. If you missed the first window, don't fret, says Mugaas, but simply make the second application around Halloween. Why not squeeze in two doses in quick succession? "You don't want to stimulate the tender, succulent growth" as the grass girds for winter, he explains; the late-season application is more for the root system. Another tip: Homeowners can drive over leaves with a lawn mower to create a fine mulch as long as the results don't blanket the lawn.


Writing a Home-Offer Letter – Is It a Good Idea?

The most important letter you'll submit to a home seller is the one you'll get from your lender stating that you are preapproved for a mortgage. Savvy listing agents will counsel their clients to refuse offers from unapproved buyers, so all the flowery prose of a home-offer letter will mean nothing without loan preapproval.

Assuming you have your lender's letter, whether or not you also submit a home-offer letter depends a great deal on the type of market in which you're buying and the competition.
The Market

When the real estate market has lots of buyers looking for homes and few houses for sale, it's a seller's market. With the seller in the driver's seat, purchase offers tend to get cleaner, with fewer demands from buyers. Offering prices typically come in at or even over the asking price. When supply is low and demand is high, it's challenging for buyers.

Several regions of the country are currently in seller's markets. In some of the more in-demand areas of California, for instance, there are so few homes for sale and so many buyers in the market that almost 6 in 10 homes are selling in multiple offer situations, according to the California Association of Realtors®. In the second quarter of last year, home sellers received an average of 4.2 offers.

In San Antonio, Texas, homes are selling quickly and for over list price, according to Marilyn Moritz of KSAT-TV. The head of the state's Realtors® association cautions homebuyers in these types of markets that they shouldn't be picky and that time is of the essence when making an offer.
The Competition

If you're unfortunate enough to have fallen in love with the same home that three other people are smitten with, be prepared to do battle. The chances are good that they, too, are preapproved for a mortgage, which puts you on equal footing. If any of them is waving cash, however, all bets are off, as the table is tilted in the cash-buyer's favor.

There are several reasons for this, the most significant of which is that the seller doesn't have to worry about a loan falling through if the house becomes overpriced in a bidding war. There is no appraisal with a cash offer. There is no lag time, waiting for final loan approval. Cash buyers are streamlined buyers, and they usually prevail in a bidding war.

Home-offer letters, however, have been known to sway some homeowners in this situation – especially those with an emotional attachment to the home.
The "Pick Me" Letter

The home-offer letter was created years ago to help sellers stand out from the competition. The problem now is that so many buyers use them, they may be losing their effectiveness.

Since there is no harm in trying, however, let's take a look at some tips for the ideal home-offer letter:

Don't be robotic. This isn't a form letter, it's a letter that you hope will tip the scales in your favor, so put as much personality into it as possible. Start by using the seller's name in the salutation. "Dear John and Mary" is far better than "Dear Seller."

Make it emotional. Tell the seller how the home resonates with you. Even if it's just the color of the walls, tell the seller how much you appreciate her taste and how close it matches yours. Be sincere in telling the seller why you fell in love with the home and why you want to live in it.

Explain why they should pick you. Point out your strong points as a buyer, such as few contingencies, your willingness to increase the offered price, or your strong credit score that will help your loan approval zip right through.

Keep it brief. Try not to go over three to four paragraphs.

Keep it upbeat and positive. Sellers don't care if theirs is the ninth house you've made an offer on. They don't care that you need a one-story because of health issues. Accentuate the positive and leave the complaints out of it.

Don't forget to include photographs to help cement the fact that you are far more than a signature on a purchase agreement.

There's an old saying that is frequently tossed around in business circles: "People do business with people they know, like and trust." Helping the seller get to know you, like you and trust you is a tall order for a short letter, but it should be your goal nonetheless.

2. Rates are Interest-ingMortgage rates remain historically low, and only recently jumped to above 4 percent. In January...
New FHA Program Seeks to Give Borrowers Back their Buying Power - KW Blog

2. Rates are Interest-ing

Mortgage rates remain historically low, and only recently jumped to above 4 percent. In January, the 30-year mortgage went up by 1 percent. “That’s a 10 percent increase in the monthly cost of the home,” said Papasan. Or a 10 percent drop in affordability. “Don’t panic,” Keller warned. “Let’s get some perspective: I got into real estate during the highest interest rates ever. We were asking people to agree to 14 points on their mortgage and people still bought. Every market has their pros and cons, so don’t ever get locked into ‘is it a good time?’”

Several mortgage regulations are making an impact on borrowers’ ability to buy:

Issue #1

• Shorter waiting period for consumers who experienced an “economic event.”

• Borrowers who defaulted may be able to buy after one year. For more details see blog.kw.com/HUD.

The Back to Work Extenuating Circumstances Program is designed to allow people who experienced a “Negative Credit Event” like a short sale, foreclosure or bankruptcy during the housing crisis to purchase a home.

Mike Middaugh at KW

Mike Middaugh at KW

1. Prices are on the Upswing

The annual pace of home sales in July was 17.2 percent higher than it was last year, putting the industry on pace for the best year in home sales since 2006. “The last time we saw this number was 2003,” said Papasan.

The monthly median home price in July was $213,500 up 25.1 percent from January to July 2013. In order to understand that number in a relevant way, Keller turned to annual home prices, which he said “gives us total perspective.” For 2013, the average median price YTD for 2013 was $198K. Though home prices have been increasing year-over-year for 17 consecutive months, that number still sits below the long-term 4 percent trend line.


1121 NW 9th St
Corvallis, OR


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