Have you noticed the boom of new construction in Yamhill County? In McMinnville’s West Valley there is an entire subdivision underway, and many formerly empty lots throughout the county have new homes for sale. Kansas City also has properties available and up for sale from BROOKFIELD RESIDENTIAL for people to check out if they are in that area.
This Oregonian article suggests Portland is not keeping up with demand for new homes: http://www.oregonlive.com/business/index.ssf/2014/10/is_portland_building_enough_ne.html. Perhaps this lack of supply will encourage even more Portland buyers to consider expanding their home search to Newberg, McMinnville, Yamhill, Carlton, Dundee in search of commute-friendly and affordable family homes.
Here are the 20 most affordable new construction homes for sale right now in McMinnville:
[idx-listings city=”McMinnville” minyear=”2014″ maxyear=”2015″ statuses=”1″ orderby=”Price” orderdir=”ASC” count=”20″ showlargerphotos=”true”]
National Housing News provided by Guild Mortgage:
| Housing Starts sizzled in December, rising 4.4 percent from November to 1.089 million annualized units, coming in above expectations. The rise in Housing Starts was the strongest annual pace in seven years and it was led by a jump in starts for single-family homes, which reached their highest level since early 2008.Building Permits, a sign of future construction, did decrease by nearly 2 percent in December but still came in at a strong 1.03 million. Both Building Permits and Housing Starts figures were also revised higher in November.Also of note, the January National Association of Home Builders Housing Market Index was 57. Readings above 50 are considered positive sentiments about market conditions. Meanwhile, December Existing Home Sales rose from November. However, sales in 2014 were lower compared to 2013 due to a sluggish start in the beginning of the year. Overall, the housing sector continues to improve.In news overseas, the European Central Bank has announced that it will enact a massive Quantitative Easing, or QE, style of Bond purchases to fight off deflation and promote economic growth in the region. The news has caused extreme volatility in U.S. markets. However, Mortgage Bonds and home loan rates (which are tied to Mortgage Bonds) remain near historic best levels.
The bottom line is that now is a great time to consider a home purchase or refinance. Let me know if I can answer any questions at all for you or your clients. |
