Economy
172 articles · Page 16 of 18
Salem Residential Housing Market March 2022
Housing prices are rising significantly, causing stress for buyers while benefiting current homeowners. In Salem, the market remains competitive with low inventory, pushing many to rent instead. Despite increasing mortgage rates, demand continues to outstrip supply. Experts suggest creative solutions for housing production to balance the market in the future.
This month's featured emerging leader is Kelsey Oran of Hancock Commercial Real Estate.
Kelsey Oran, Principal Broker at Hancock Commercial Real Estate, defines leadership as using one's gifts to uplift others. She is proud of her team's resilience during pandemic challenges and her recent co-ownership. Excited about Salem's growth and local opportunities, Kelsey encourages networking through local dining experiences for Emerging Leaders.
Supply Chain Disruption Slows CRE Development
Supply chain disruptions are causing delays and rising costs in commercial real estate (CRE) development, particularly due to shortages of materials like lumber and appliances. While these challenges are expected to continue, increasing demand for warehouse spaces may prompt positive long-term outcomes from U.S. infrastructure improvements despite higher prices.
Salem City Council budget deficit strategies: Will these be new or more of the same in 2024?
The Salem City Council has returned to the drawing board with a two-fold strategy to gain revenue and to protect the budget, hoping to solve Salem's projected $19.4 million deficit...
Hispanic Real Estate Organization Makes Its Way to Western Oregon
The National Association of Hispanic Real Estate Professionals launched its Oregon chapter, NAHREP Western Oregon, to address local housing needs and support the Hispanic community in achieving home ownership. With 112 members, the chapter aims to educate real estate professionals and provide resources for successful housing transactions, fostering trust and collaboration.
Mid-Willamette Valley Homeless Alliance Seeks Business Input
The Mid-Willamette Valley Homeless Alliance has been operating in Salem for just four years, but its impact on the community has been immense. The organization was founded to help pool...
Exit Strategies
The primary discussion around selling real estate highlights scenarios for different investors. Novice investors typically reinvest using 1031 Exchanges, while house flippers focus on quick profits. Mature investors may face challenges with property management and taxes. Seller financing emerges as a viable solution, providing passive income and tax advantages while mitigating management headaches.
Salem City Block 50 Project
The City of Salem has partnered with Edlen & Co. and deChase Miksis for the Block 50 redevelopment project, aiming to create a mixed-use community hub. This initiative will introduce market-rate and affordable housing, retail spaces, and public areas, revitalizing downtown Salem and enhancing urban livability through sustainable development.
Salinas Talks Immigration, Farm Bill, and More at Salem Forum
U.S. Rep. Andrea Salinas (D-Ore.) highlighted the importance of bipartisanship to tackle key issues like immigration reform, border security, and a new Farm Bill for agricultural producers. She advocated for moderate collaboration, criticized extreme political factions, and encouraged community engagement, urging stakeholders to continue dialogue on pressing regional concerns.
Enhancing Transparency and Consumer Protection in Real Estate: Analyzing House Bill 4058
The House Committee on Housing and Homelessness approved House Bill 4058, aimed at enhancing transparency in real estate. Key provisions include mandatory written representation agreements for buyers and sellers, disclosure of shared compensation, and limits on long-term agreements. These measures promote consumer protection and aim to establish a fairer real estate landscape.