Bethany Reeves at HomeSmart Realty Group

The good natured Sellers of the Open House I am hosting today at 2033 West Park Ct NW in Salem have this fun sign in their guest bathroom:

As we commemorate Memorial Day tomorrow, may the gratefulness of a thankful nation comfort the hearts of each one missing a loved one who died in service.

My sweet Sellers pulled fresh baked chocolate chip cookies out of the oven at 12:55, for a 1:00 open house! I get to work with the NICEST people!

Whether your Christmas takes the shape of a gift or a prayer, a song or a Santa, I hope the love of family and friends makes it special. Merry Christmas!

Happy Hanukkah to everyone who is lighting a candle tonight!

Struggling with the housing market? Let's explore your options together! 503-897-8488

The idea of 50 year mortgages is now being floated in all seriousness. Around Salem, Oregon the median home costs $525,000. A $400,000 home is a very modest entry-level home. Today's interest rates are, on average, around 6.35%.

Here is the math:
$400,000 house at 6% interest,
with a 10% down payment.

30 Year Mortgage
Monthly payment: $2,400
(principal and interest only, no insurance or taxes)
Total interest: $463,352
Total cost: $863,352

50 Year Mortgage
Monthly payment: $2,105
(principal and interest only, no insurance or taxes)
Total interest: $863,371
Total cost: $1,263,371

$1.26 million dollars.
For a house that is less expensive than most, with a better interest rate than most, and bigger down payment than many. All to save $300 a month.

Who would 50 year mortgages benefit?
You do the math.

Dear Veteran,
Thank you for your service!
On behalf of a grateful nation,
Bethany

You are invited to this Open House!

If you are getting ready to sell your home, make sure you have TWO straps on your water heater!

I snagged this photo from Jess Defrees, of Guild Mortgage here in Salem. But it's true! Just this spring I had a sale held up for several days because the appraiser noted there was only ONE strap. The homeowner fixed the second strap that night, and I sent the photos of the repair to the other Broker and to the Mortgage Broker by 8am the following morning, but Underwriting would not approve the loan until the appraiser came back out and verified with his own two eyes that second strap was indeed up.