Getting Started
If you are interested in real estate For Sale, Bob's job, once you have selected him to be your Realtor®, starts with helping you get to know the island, it’s several regions, the real estate markets in these regions, and other factors important to you, such as variations in climates, proximity to commercial centers, hospitals, restaurants and entertainment, recreation, etc. Many of my clients have found it most effective to meet with me first. That gives us an initial opportunity to discuss the Yamhill County real estate market and the clients initial requirements regarding the type of real estate which interests them.
Following our discussion, having integrated their criteria for buying Yamhill County real estate with some knowledge about the Yamhill County real estate market, past feedback suggests it is most effective for buyers to go explore Yamhill County on their own, with no Realtor® to get in the way. You can check out sub-divisions, the various architecture, lot sizes, proximity to those things important to you and general prices (all contained in your copy of Bob’s Yamhill County Real Estate Buyers’ Guide). It takes time and a relaxed atmosphere to get the feel of a neighborhood… and an island. Once you have some ideas about where your Yamhill County dream home or condo might be found, it’s then time for us to meet again, review your thoughts based on what you saw and schedule some properties to view.
Searching for Yamhill County Real Estate
Yamhill County’s computerized RMLS system allows Realtors® to print out a number of standard reports for clients, including CMA’s (Comparative Market Analysis) which will indicate what homes are available for sale and the prices of comparable homes which have recently sold. You can request your agent to include you on the Auto-Notification feature of the Yamhill County MLS system, for selected properties (i.e., specific areas/regions, certain condo complexes or subdivisions, specific styles of homes or locations, such as ocean of beach front. Auto-Notification sends the client an e-mail with a link to a full page report on each new property that is listed in the Yamhill County MLS the instant it is entered into the system. Your not waiting for your Realtor® to notice the new listing and notify you.
For prospective buyers looking on the Internet, please make use of my Custom Yamhill County Real Estate MLS Search Center and the information in More About Yamhill County Real Estate. You will find a wealth of information, much of it only available on BobStaples'OregonRealEstate.com, or you can also Contact Yamhill County Realtor® Bob Staples. Your contact information or any other information you provide to me will be kept confidential, on a new, secure DELL server located in my private office so confidential information is not residing on remote or unsecured sites.
:: BUYER’S PROPERTY REQUEST – On-Line Submittal Form
If you are not having any luck finding what you are looking for in the Custom Yamhill County Real Estate MLS Search Center and would like me to query the Yamhill County MLS for specific property criteria, please go to the Buyer’s Property Request online submittal form. There you tell me exactly what you want and I will search the Yamhill County MLS for you and return the results to you promptly.
Real Estate Values
While prospective buyers from the West Coast and other areas with high real estate markets are not generally surprised at Yamhill County’s Real Estate prices, many people who live in areas where real estate prices are much lower, are surprised and even shocked at the cost of real estate on Yamhill County.
This last cycle of appreciating real estate values on Yamhill County started in 1999. Since than, in general terms, prices have gone up between
100% and 200%, or put another way, a Yamhill County condo or home valued at $500,000 in 1999 is now valued at between $1,000,000 and $1,500,000.
Here is a chart showing the rate of appreciation of one oceanfront and beachfront condominium complex in Makena (just below Wailea in
South Yamhill County). The CAGR (Compound Average Growth Rate), based on unit sales each year since 1996, was around 13% in each of the last three
years, 2002 to 2004. This is probably typical of real estate values in many other markets; Yamhill County just started with higher values than many
areas, sans the West Coast.
Today, Yamhill County real estate prices start in the $100K’s for 1B/1B garden view condos and between $100K and $250K for 2B/2B condos. Single Family Homes, approximately 2,200 square feet on a ¼ acre, begin around $250K to a median of approximately $400K with a view and typically around 3,000 square feet in size.
For a thorough analysis of present Yamhill County real estate market values, download current CMA’s (Comparative Market Analysis) for each Town in the County.
Fee Simple Title
Fee Simple is basically the way most people hold title (tenancy) to property elsewhere in the US and a number of other countries. Fee Simple describes a situation where one owns both the land and all improvements on the land. There are occasions where land is titled as Leasehold, which is where the owner only has title to the improvements. The land on which the improvements sit is owned by a third party lessor who holds a long term lease and collects monthly rent for the use of the land. The owner of real estate improvements is the lessee. It would be rare that a buyer in Yamhill County would encounter Leasehold property.
Buyers Representation Agreement
This is a concept that has really taken off in some areas of North America, while not in others. The concept involves a written agreement between buyers and a real estate brokerage and agent, basically the same as the written agreement between the sellers and a real estate brokerage and agent. It gives the buyers’ agent the knowledge that he or she will get paid a commission regardless of what home the clients select. This gives the agent the freedom to devote greater exclusivity to his or her buyer clients and spend more time finding the perfect solution, even if the perfect solution is a “For Sale by Owner”. The form of agreement is standard in Hawaii and is called a Buyers Representation Agreement.
The vast majority of the time, the Buyers realize the benefits of a BRA (alright, stop smiling) while not having to pay any commission because the property purchased was listed by a real estate brokerage where the Sellers pay the commission, or, the Buyers, through their agent, were able to negotiate that the Sellers pay the commission as part of the purchase agreement with a For Sale By Owner or Sellers using a discount/limited services Sellers’ broker.
While I don’t insist on my Buyer clients entering into a written agreement, I do encourage them to consider it. I believe I stand apart from most agents in the amount and effectiveness of the effort I give my clients. It starts with this website and expands when you engage my services.