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Where Salem Ranks Among Best Cities for DIYers, and why it matters.

Written by Mike LaFirenza on Nov. 18th, 2022
A new report from Porch looking at the best U.S. locations for DIYers is in. The analysis found that there are 4.88 hardware, furniture, and appliance stores per 10,000 residents in the Salem metro area, compared to 4.54 nationally. Why does this matter? Being a DIYer is more conducive in some parts of the country than in others, given that between 80–90%…
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Industrial Asset Stats by Salem Zip Code

Written on Nov. 18th, 2022

Industrial Asset Stats by Salem Zip Code:   97301 Central Salem has a total of 6.6 million square feet of industrial buildings, and zero square feet currently under construction. The vacancy rate is tight at 1.9%, with rents averaging $9.15 annually – up 7.1% year over year. Sales are transacting at $88 per square foot, which is up 8.3% year over year. Investment transactions are taking place at an…

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Inflation’s Impact on the Economy and Commercial Real Estate

Written on Nov. 18th, 2022
We are amidst a significant market change. Due to unprecedented events, we are currently facing a time of transition with uncertain long-term impacts. This rapidly-changing scenario has two inextricably linked factors: inflation and interest rates. Inflation rates are the highest we’ve seen since the 1980s. It’s been top of mind for many consumers, and …
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Multi family housing makes it more affordable? All of Oregon’s Cities over 100k make the list for their size in new construction.

Written on Nov. 18th, 2022
New housing construction in the U.S. is slowing down, which isn’t good for families already struggling to afford their first home. Even though multi-family dwellings have accounted for the lion’s share of new home construction growth since the recession, the shift away from single-family homes has failed to lower prices. Data from the Department of Housi…
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New Developments in Salem

Written by Luis Ramirez on Nov. 18th, 2022
SALEM- Several new developments are currently under construction or recently completed in the Salem area.   1233 Riverbend Road NW A new food cart pavilion will be opening in West Salem at a new development. The new pod will be called Checkpoint 221 and will feature 16 food carts, a bar, and an indoor/outdoor dining area. Checkpoint 221 hopes to be…
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Residential Real Estate Update

Written by Nicole Fratangelo on Nov. 18th, 2022

  The residential real estate market is still active with buyers and sellers. While the market has cooled in comparison to the last two years, we remain in a market of low inventory. In order to have a balanced market we need to have six months of inventory and currently, we are only at 2.6 months of inventory in Marion and Polk counties.   This shows t…

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App Invests in Willamette Valley Farming

Written by Wyatt Jones on Sep. 30th, 2022
Farmland is pretty much the opposite of NFTs. There’s an actual finite supply of the stuff, it has true physical utility, and human beings quite literally need it to live. Still, that doesn’t mean every farm is a good investment. Far from it! You should check for red flags when investing in collectibles or NFTs, and farmland is no different. But how do…
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Marco Polo Restaurant Changing Ownership after 21 years

Written by Luis Ramirez on Sep. 28th, 2022
SALEM- Marco Polo Global Restaurant is changing hands after 21 years. Owners Jackey and Cathay Cheung recently retired and have handed the reigns over to longtime employee Patty Pakulak. Pakulak was an employee for 12 years under the Cheungs before being approached to take over as new owner. “I’ve been in it for so long and my dad owned a restaurant w…
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Mortgage bonds cool down.

Written by Jeremiah Anderson on Sep. 1st, 2022
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

Written by Nick Williams on Jul. 18th, 2022

    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…

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