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The September Economic and Revenue Forecast
The September Economic and Revenue Forecast came out Aug. 31. Here are the highlights:
Bottom line: Gross general fund revenue for the 2021-23 biennium, which began on July 1, 2021, is now expected to be $27.9 billion. This exceeds the $23.3 billion forecast in June 2021 as the legislative session ended and just before the biennium began. The forecast now p…
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Taxpayers Association of Oregon: The Bull Pen
By October 1st, 2022, a new Oregon law will go into effect that bans hiring bonuses in the name of equality (HB 2818). The current practice of Tri-Met transit offering $7,500 and McMennamins restaurants offering $1,000 hiring bonuses will soon be illegal.
If minorities are suffering from lack of employment and businesses suffering from historic labor…
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Mortgage bonds cool down.
Homebuyers were gifted an opportunity in early Aug. as we saw the national mortgage interest average for a 30-year fixed conventional loan decline to 5.05% down from 5.90% almost a month earlier. The Federal Reserve raised the federal funds rate by 75 basis points signaling a strong posture to combat inflation in the economy. In anticipation of the news mort…
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Commercial Real Estate: Retail in Salem by Zip Code
Salem’s new Costco is complete, parking lots of our area’s shopping centers are largely full and our residents are seemingly back to normal following a Covid-induced slide in many retail sectors – particularly dining. There’s certainly more than meets the eye, which has never been more true than now in the retail sector of commercial real es…
Mortgage Market Offers a Lending Hand
SALEM- Tasha Brandon is a local Salemite who is now the co-owner of Mortgage Marketplace in south Salem.
Brandon recently opened the doors with business partner Mike Gillett after working in the industry for a few years.
The two worked at two different companies together before realizing there was a gap in lending in the community.
“We could see that th…
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Top 5 Tips for Realtors on Mortgage Lending
Unless your customers are cash buyers, the home mortgage loan plays an integral role in most real estate transactions. The relationship between buyers, lenders, and realtors is important to a successful, prompt closing. And a complementary relationship between the Realtor and mortgage loan officer is essential.
Many factors play into a successful …
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Save or Spend? A Real Estate Story
Save or Spend? A Real Estate Story
In my first years as a real estate broker, I learned a lot. I became a part of many families’ life stories. I was helping first-time buyers, sellers, and those wanting Real Estate as an investment. In 2008 though, I along with many others were caught in the middle of the Great Recession. We all …
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HOPE Plaza Breaks Ground
SALEM- The Center for Hope and Safety officially broke ground on their ambitious new project, HOPE Plaza in downtown Salem.
HOPE Plaza is a project that will create housing, opportunity, partnerships, and employment at the site of the old Greyhound Bus Terminal.
On the first floor will be businesses that partner with the Center for Hope and Safety and that…
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Capital Cryo Weathers the Storm
SALEM- Capital Cryo began as a business in Salem in 2017 as a form of therapy to reduce pain and inflammation while minimizing recovery time from injury or muscle fatigue.
When it was founded, the business focused on cryotherapy and featured a cryo cold chamber for recovery and as a way to treat sore and injured muscles, fatigue, pain relief, and recovery…
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2021 Office Market Recap
CURT ARTHUR, SIOR
OFFICE MARKET | SVN COMMERCIAL ADVISORS LLC
Office absorption in Salem turned sharply negative during the pandemic-induced second and third quarters of 2020. Since then, sharp swings in occupancy have been prevalent, as tenants sort out space needs heading into the post-pandemic era. In Q2, 2021, the bulk of the leasing ac…
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