Author Archives: Alisia Leyva

Potential Homebuyers & The Current Housing Market

Real estate is only beginning to heat up as the spring season kicks into gear – and homebuyers may be in for a bit of a shock.

According to the latest quarterly report from the National Association of Realtors, almost every metro area saw year-over-year home price increases in the first quarter. The median single-family sales price has soared to $319,200, which is an annual increase of 16.2% – a record high.

NAR’s chief economist, Lawrence Yun, comments: “The sudden price appreciation is impacting affordability, especially among first-time home buyers. With low inventory already impacting the market, added skyrocketing costs have left many families facing the realities of being priced out entirely.”

The average monthly mortgage payment increased to $1,067, which is up from $995 only a year ago.

What metro areas saw the highest price increase? NAR’s report listed the top 11 areas with median sales prices ranging from $100,000 to $600,000:

  • Kingston, NY: up 35.5% annually
  • Bridgeport-Stamford-Norwalk, Conn: 34.3%
  • Atlantic City-Hammonton, N.J: 34%
  • Barnstable Town, Mass: 33.1%
  • Boise City-Nampa, Idaho: 32.8%
  • Sherman-Denison, Texas: 29.8%
  • Elmira, N.Y.: 29.1%
  • Austin-Round Rock, Texas: 28.2%
  • Youngstown-Warren-Boardman, Ohio-Pa: 27.7%
  • Decatur, Ill: 27.5%
  • Glens Falls, N.Y.: 27.5%

Continue reading the NAR’s report, here.

Community Spotlight – Pendleton, Oregon

Right at the base of the Blue Mountains in Eastern Oregon, you’ll find the quaint town of Pendleton!

The outdoor enthusiast is bound to find endless amounts of opportunity in the town, whether that’s through hunting, fishing, skiing, snowshoeing, cycling, or hiking!

Pendleton, also known for its world-class Pendleton Round-Up Rodeo, also enjoys a vibrant and fun art culture and historic attractions. The Pendleton Whiskey Music Fest is also hosting their 5th year anniversary – and, depending on how things might be with the CDC, Eric Church and Macklmeore are set to preform!

Only a 10-minute walk from Pendleton Riverwalk, you’ll find our AmeriTitle Pendleton branch!

Assistant Vice President, Johnna Clark, shared with us how amazing her Pendleton team is: “We have an amazing staff that give each and every file great care and concern. Our efforts in service are unmatched. It is truly an honor and a privilege to serve the Pendleton Community. We take great pride in being part of our customer’s transactions and work tirelessly to bring each and every transaction across the finish line!”

Our AmeriTitle Pendleton branch is proud to serve the title and escrow needs of Umatilla County. If you’re planning to buy or sell property in Pendleton, please ask your real estate professional to close with AmeriTitle. Give a shout out on their Facebook AmeriTitle Pendleton page!

AmeriTitle Pendleton Branch
112 SE Court Ave, Pendleton, OR 97801
541.276.2010

You Had Us at DIY Projects: Homeowners & Updates

Since the pandemic, DIY projects have been the go-to thing for homeowners to set out and accomplish. What better to do than update areas in your home to enjoy the time you spend in them?

According to Cinch Home Services’ recent survey, 90% of homeowners have taken on a DIY home project during the pandemic.

But, for most us “joe schmoes,” we don’t entirely know each and every particular step to accomplishing a DIY project – and, according to the same survey, homeowners reported spending an average of $184.13 to fix a failed DIY house project.

Cinch Home Survey Infographic

So, what areas in the home are subjected to a higher probability of ending in failure? The survey found that every 1 in 5 attempted bathroom DIY projects ended in some sort of mistake. Stay away from these plumbing projects – especially if you’re a novice.  

What are some of the problems that end up with a DIY failure?

  • 46% of homeowners surveyed said they were lacking the right equipment or tools
  • 44% of homeowners surveyed said they lacked enough knowledge to complete the project
  • 38% of homeowners surveyed said they forgot a step to the project
  • 36% of homeowners surveyed said they bought the wrong material to complete the project

While a DIY project isn’t necessarily the wrong idea if you’re a homeowner, it might be worth it to consider all steps and all tools needed to complete a project correctly.

Have you undertaken a DIY project since the pandemic? How’d it go? Let us know in the comments below!

For more real estate guides and news, stop by AmeriTitle’s Blog.