Benton and Linn County Real Estate Homes in Corvallis, Albany, and Philomath
Your Certified Residential Specialist serving the mid-Willamette Valley. For free consultation for either selling or buying, please give me a call on my cell at: 541-990-4197 or email me at: mfullwiler@valleybrokers.com.
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Buyer/Seller Tips: Read through helpful tips of information on buying or selling your home!
Since the Federal National Mortgage Association (Fannie Mae) began recording real estate data back in the early 1950's they have never recorded a year of national housing depreciation. 2008 was indeed an anomaly. When the National Association of Realtors (NAR) began their own market studies in 1968 they have found, on average, home values rise 6.7% annually with seven years of double digit appreciation.
After a ten year housing boom what we are now experiencing is not a "crash" (which according to the Office of Federal Housing Enterprise Oversight agency classifies as a 15% drop in home values over a 5 year span- much too early to talk about this) from a housing "bubble" (which the same agency defines as a 30% increase in home values over a three year period) but is a return to normalcy. According to the Willamette Valley Multiple Listing Service data base, in the year 2000 the average price of a home here was $168,794. By the end of 2009 the figure increased to $263,000, or 56%.
