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Home Explore Jun_2019_Willamette_Valley_REAL_Producers_ (3)

Jun_2019_Willamette_Valley_REAL_Producers_ (3)

Published by sabrina.dikeman, 2019-08-27 14:12:00

Description: Jun_2019_Willamette_Valley_REAL_Producers_ (3)

Keywords: realtors,realtor,real estate,willamette valley,salem,real producers


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hmcYloeiaruetenrtetsr Lisa McCormick Senior Mortgage Loan Originator 503.928.8631 O. 503.931.2185 M. 280 Liberty St SE, Suite #100 | Salem, OR 97301 NMLS# 109599 Cherry Creek Mortgage Co., Inc. NMLS #3001. All rights reserved. Oregon License Number ML-4807. (503) 581-6052 Mendell Gosnell, CPM® [email protected] | 1365 Commercial St SE Salem, OR 97302 Oregon Licensed Principal Broker 2 • June 2019

PREFERRED PARTNERS This section has been created to give you easier access when searching for a trusted affiliate sponsor to use. Take a minute to familiarize yourself with the businesses sponsoring Willamette Valley Real Producers.  These local businesses are proud to partner with you and make this magazine possible. Please support these businesses and thank them for supporting Willamette Valley Real Producers! 1031 EXCHANGE HOME INSPECTION / RADON PHOTOGRAPHY/MULTIMEDIA Beutler Exchange Group LLC MANAGEMENT SilverDream Photography (503) 748-1031 Pillar to Post - Derek Renz (503) 507-5783 (503) 967-7623 APPLIANCE SALES & REPAIR Photos by Orion Willamette Valley Appliance HOME STAGING (503) 385-1435  (503) 390-0161 Creative Concepts (503) 881-0886 PHOTOGRAPHY AND VIDEO BASEMENT WATERPROOFING   SERVICES John’s Waterproofing Company HOUSE CLEANING SERVICES Marks in Time Photography (503) 419-0404 Azucena’s Cleaning (541) 905-1366 (503) 779-5906   BUILDER/DEVELOPER PROPERTY MANAGEMENT/SALES Sabre Ridge Estates by Wind River Maid to Perfection Centurion Real Estate Homes (541) 257-5373 Management LLC (503) 983-9188 1365 Commercial St. SE, Salem, OR 97302 MARKETING, SOCIAL MEDIA, (503) 588-0940 CONTRACTOR AND WEBSITES FOR REALTORS Goff Construction Business Boldly   (503) 559-8670 Tamara Collins ROOFING AND ROOF REPAIR (503) 269-2990 Anytime Roofing (503) 446-0918 FOUNDATION REPAIR Terra Firma Foundation Systems MORTGAGE/HOME LOAN AND   1-844-311-8051 REFINANCE SIGNS AND GRAPHICS Academy Mortgage 1 Day Signs Ben Nelson (503) 371-1329 FRAMING AND ART GALLERY (503) 910-9872 1010 Commercial St. SE, Elsinore Framing and Fine Art Gallery Salem, OR 97302 444 Ferry St. SE, Salem, OR 97301 bennelson (503) 581-4642 Cherry Creek Mortgage TITLE AND ESCROW Lisa McCormick Fidelity National Title Company GARAGE DOORS AND REPAIRS (503) 502-0336 500 Liberty St. SE, Suite 200 Sa- Dave’s Garage Doors lem, OR 97301-3496 (503) 641-8987 profile/lisa-mccormick (503) 585-7219 Land Mark Professionals HOME INSPECTION Katy Canales Inspections Unlimited – Brandon Biehn (503) 581-8100 (503) 931-6401  Mortgage First Corporation (503) 588-3511 6 • June 2019

We o er customized solutions for your buyer or seller. We educate your customer through the entire process. We provide the most cost-e ective solution. We o er free estimates. We o er financing (can be paid out of escrow). We o er a transferrable warranty. We provide a dedicated customer service advocate that assists your customer from start to finish of their project. We are a trusted, locally owned and operated company serving Portland and the Willamette Valley. FOUNDATIONS Cracked walls, gaps in your floor, and stuck windows or doors are all signs of a dangerous foundation. BASEMENTS Basement leaks don’t simply vanish, and they only get worse over time. CRAWL SPACES Mold, humidity and allergens are all signs of a harmful crawl space. Improve the air quality by cleaning out and sealing up the crawl space. “Real Producers want Real Results for their clients. TerraFirma Redefines our industry with only the best engineered solutions and only what your client needs. You provide the highest quality service for your clients and when you entrust them to us we do the very same. We will make sure your client has all the information they need and the solutions that work for them to give them the peace of mind that the home they are selling or buying is safe and protected with a transferable warranty. Your client will never forget that you cared about them enough to recommend only the very best to serve them.” DIRECTOR OF BUSINESS DEVELOPMENT • 7 503-828-3340 Exclusive REALTOR® Concierge Services

If I were a REALTOR® publisher’s note I ask you REALTORS® often, “Why When I am considering a new car, I look at the that they have MY best interest in your brokerage” because I sincere- expenses differently than most. I do the math and mind. Will I be heard? Will I have an ly want to know. Sometimes you determine how much more it will cost me for gas impact? Will those I spend the most turn the table on me... \"If you were mileage, for insurance and in a monthly payment time be who I want to call family? interested in becoming a REALTOR®, to drive the more shiny (oh, I mean the better) car. which brokerage would you choose?\" Then I ask myself this question, \"Is it worth the What are the miles-per-gallon in your - just for giggles, right? money to enjoy being in this car for the next year?\" current situation? Are you paying the \"How will this car make me feel?\" If the answer is extra money to be in an environment Before you get too excited, you must affirmative, then I buy the car. You see, I spend a where you are able to thrive? If not, realize that you will never see the lot of time in my car... A Lot of Time! So I want to maybe you should look at the faster name of your brokerage at any point make sure that I will enjoy it. It is worth the extra car - just for laughs and tickles. during this read. I am sorry. The money to ensure the right experience. cover story is after the staple, if you Have a great June! feel like turning the page now. I frequently hear REALTORS® speaking about their Sabrina Dikeman decision process in determining the best brokerage. Publisher Most every billionaire in the world MONEY is typically at the top of the list, but not for 503-991-4341 agrees that their time and their rela- me! If I were a REALTOR®, I would be concerned tionships with people are the things about two things: leadership and culture. I need that they value the most. Then WHY to know that the people that I am working with do we place so MUCH stock in money? care about me and about each other. I must know WELCOME NEW PREFERRED VENDORS We work very hard to interview and vet each and every one of our Preferred Vendors, who initially come to us by top agent referrals only. Please consider reaching out to any of our Preferred Vendors when you have a need. They are our Dream-Team of Real Estate affiliates. TERRAFIRMA FOUNDATIONS will work to customize a solution. TerraFirma stands They understand that their custom- Terra Firma Foundations - Founded by its promise of solving foundation problems and ers trust them to inform and educate in 2005, and owned by Ryan Beckly, basement needs in the most efficient manner. about what they see and what they TerraFirma has become the industry find, and this is a trust they hold in the leader in structural stabilization, wa- PILLAR TO POST HOME highest regard. terproofing, and humidity control. For INSPECTION over a decade now TerraFirma has Derek Renz is your local Pillar For real estate professionals, Pillar to been keeping homes safe and sound to Post Home Inspector and is Posts’ work is a commitment to the structurally. pleased to provide real estate understanding that your reputation is professionals, home buyers and home sellers with their responsibility and that a relation- TerraFirma understands that foun- a home inspection service that brings to the buying ship with Pillar to Post reinforces the dation cracks, wet crawlspaces, and or selling of a home unmatched quality, precision, confidence your clients have in you. musty basements are stressful. They integrity, and professionalism. offer a free onsite estimate for all work Pillar To Post considers the home that may need to be completed, and we They call it “The Moment of Truth”. It is the moment a place of the heart, as it houses when the emotion of buying and selling a home the people that are loved and the 8 • June 2019 meets the reality of the issues of that home. Their memories of lifetimes. This is why work is to communicate effectively, knowledgeably, they call Pillar To Post The Home of efficiently, and openly about the condition of a home. Home Inspection.

petitive rates. Their seasoned mortgage profession- from start to finish. The Mortgage als will work with you one on one to ensure that First name has a long standing trusted you get the right home financing solution tailored reputation throughout the Willamette specifically to meet your client’s needs. Valley. MORTGAGE FIRST CORPORATION Their ultimate goal is to create lasting relationships It's all about relationships! Realtor to with each of their clients so that they remember Realtor or Realtor to vendor. And that's Mortgage First is an Oregon broker them as their home financing experts for years to what I love the most about this indus- of home loans with over 27 years of come. Their reputation is based upon doing busi- try... the depth of our connections. experience. Their team at Mortgage ness with integrity, offering excellent pricing, and First is committed to providing their providing their clients with a smooth transaction clients with the best of both worlds– excellent customer service and com- JUNE EVENTS W I L L A M E T T E VA L L E Y Thursday, June 6, 2019. 9 am - 4 pm 6.0 CE Hours - GRI Finance (MVAR) CONNECTING. ELEVATING. INSPIRING. A solid understanding of all aspects of real estate finance is essential for guiding your clients through one of the most important purchases Thursday, June 13, 2019. 5–7:30 pm in their lives. This course will cover the mortgage process, escrow & REALTORS® Casino Night at Freeman Motor Company - title, loan programs, details in lending, rules (Dodd-Frank, HOPEA & Sponsored by Real Producers Section 32, triggering loan estimates, TRID/”Know Before You Owe”), This is a FREE event - We will be honoring the agents who we seller financing, short sales & foreclosures, 1031 exchanges, and have featured the past six months in Willamette Valley Real investment properties. Instructor: Chris Bettis - Director & Government Producers magazine & ALL real estate agents and brokerages Affairs Chair for the National Association of Mortgage Brokers. are invited, and we couldn’t imagine not having you there! Location: OAR Training Rm 2110 Mission St. SE, Salem Casino tables & prizes!!! It's going to be a ton of fun! Casino Tables ran by some of your favorite Real Producer Preferred Monday, June 10, 2019. 11 am - 4 pm Vendors! We are raffling off prizes! Including “Drive Your Dream Blood Drive – MVAR - To schedule an appointment, contact Aman- Car” for the weekend – pick a Lotus or a Porsche! Someone da Brann (503-981-0574, [email protected]) or Jenni Worley will drive away a dream car. Many other prizes as well. (503-544-2081, [email protected]), or visit 3 Wineries serving free wine tastings - Coria Estates, One Love and enter sponsor code: Realtors Vineyards, & Failla Winery Location: First Church of the Nazarene Facebook Live Raffle, Background acoustic guitar, Traveling 1550 E. Market St., Salem Photo Booth, Great Networking. Location: Freeman Motor Company 3784 Portland Rd NE Salem Wednesday, June 12, 2019. 8:30 – 11:30 am 3.0 CE Hours – MVAR Fair Housing Celebration. • 9 Speaker: Georgia Meacham Fair Housing; its more than a list of dos & don'ts, rights & penalties, and mandatory continuing education. As stewards of the right to own, use and transfer private property, fair housing protects our livelihood & business as REALTORS® and depends on a free, open market that embraces equal opportunity. Location : OAR Training Rm. 2110 Mission St. SE, Salem

Tuesday, June 18, 2019. 8:30 – 10 am 1.0 CE Hours – WOAR General Meeting Location: Adair Clubhouse 6097 NE Ebony LaneCorvallis, OR 97330 Saturday, June 22, 2019. 12 – 3 pm PCAR Open House Event Thursday, June 27, 2019. 12 – 1 PM 1.0 CE Hours - Risk Management - Title Issues & Red Flags in Title. Free to MVAR Members & $15 to Non-Members Speaker: Jeanine Szidon, Fidelity Location: First Church of the Nazarene 1550 E. Market St. SE, Salem Thursday, July 11, 2019. 4 – 7 pm MVAR Annual Membership BBQ Location: Pringle Park 606 Church St SE Salem MAID TO PERFECTION Giving your life back one hour at a time Move-in, Move-out 1 Time Cleanings for Listings Weekly & Bi-Weekly Services Tailored Services Schedule a FREE Estimate Today! 541-257-5373 [email protected] Licensed, Bonded, Insured Your Professional House Cleaning Service 10 • June 2019


MATT MAHONEY 12 • June 2019

top producers Written by Rick Osborn FROM TEACHER TO PRACTITIONER Matt Mahoney used to teach marketing; NOW HE PRACTICES WHAT HE PREACHES Matt Mahoney used to teach young referrals, marketing know-how, per- The couple worked together a few bright-eyed students about mar- sonal network and a relentless drive times over the years but got togeth- keting at West Salem High School. to serve his clients well in all aspects er when they were set up on a date After about 10 years on the job, of the real estate transaction. by the owner of HomeStar Brokers he decided he wanted to put those where Matt Mahoney works. It’s skills to work and made the jump to “If you treat your clients well and made him an even bigger believer of real estate full time. look out for them, they appreciate rate shopping. it,” Mahoney said. “I think one of “I didn’t go into teaching to teach my biggest soapboxes is part of our “You shop everything else, so why business, but I just ended up doing ethics, to look out for the fiduciary wouldn’t you shop rates on the most it,” he said. “I always knew I wanted best interest of my client and I’m a important investment you’re going to to do something with my degree huge advocate for that.” make,” he said. “It’s me advocating other than teach.” for my clients and me advocating for That includes getting the best deal their best interest.” Mahoney earned his bachelor’s de- on the home they are buying or gree in business from Oregon State selling – earning the highest price Mahoney has a special drive to help University and went on to earn his for his selling clients and saving the his clients. A South Salem High master’s in teaching from Western most money for the buyers – as well School graduate and current Keizer Oregon University. Teaching was as with the mortgage. resident, he is proud to serve his rewarding, but Mahoney came to the lifelong hometown. He’s made it a conclusion that he wanted to pursue “My wife is a mortgage broker,” he point to be involved in the commu- a career that would provide a greater said, “and I’m an advocate for my nity as much as he can. He’s coached opportunity to provide his family with clients and always recommend that baseball, basketball and football the life he wanted to provide them. they shop rates, especially if they’re over the years for his children – he not using a mortgage broker. Between and Claire have 6 children in total, Real estate seemed like a great fit. For fees and interest rates, it has a huge as part of a blended family that about four years, Mahoney continued impact on my clients. It greatly affects also includes an adopted child from teaching part-time while he built his their ability to afford a home, how Ethiopia – and through that activity real estate business. About nine years much they pay over the life of the loan been able to touch many lives in ago, he jumped in full-time. Now a and what their payments are going to the community. Mahoney’s children 13-year veteran in the Salem real es- be. My goal when I work with some- range in age from 15 to 4. tate market, Mahoney is reaping the one that’s buying a place is that the rewards of his marketing savvy and home fits their needs, the home fits “We’ve got a big, blended family now hard work with HomeStar Brokers. their budget and that they’re getting a so it’s great,” he said. “I like to golf, good deal all the way around.” and I like to travel, but obviously kids Last year was his best yet in terms In full disclosure, Mahoney is quick are like 80 to 90 percent of all my free of volume, racking up just shy of $20 to admit that his wife of a little over time. It’s crazy, but it’s awesome, too. million in total sales. The secret to a year, Claire Mahoney, is a mortgage I come from a big family, as well, and his success is in his work ethic, client broker/owner at Mortgage First Corp. there’s always something going on.” • 13

Keeping in touch with his roots from his teaching days, Mahoney is more than interested in helping the next gener- Mahoney is active in activities that help teenagers. ation of brokers succeed by doing business the right way. He For about 17 years, he’s been involved in Young Life, a says in his office; the door is always open to answer ques- Christian outreach youth organization geared toward tions that will help newer brokers hit the ground running. high school and middle school students. He was a lead- er for about nine years and has been on the committee “If they want to last and make a good living at it, they for Young Life in Keizer for about eight years. have to show up and work every day, because the busier you are the busier you get,” he said. “The other thing is Investment real estate also takes up some of Ma- marketing. You have to spend money to make money. If honey’s energy. He owns six rental properties in the you aren’t putting your name out there, and if you’re not Salem area, three of these properties are multi-family. spending a little bit of money targeted in the right places, He’s a believer, by advocating with his clients about the it’s going to be very hard for you to build a business. The upside of buying a duplex for a first home, for example, key, though, is to be humble and be willing to ask for so they can live in one side and have someone else pay help, good experienced brokers will help.” rent to help knock down the mortgage. Mahoney holds the Certified Investor Agent Specialist credential. While Mahoney enjoys community involvement, success and mentoring others, he’s hooked on helping clients and “They live in it a couple years and now they’ve got getting them the best deal that he possibly can. equity so they can move to another home,” he said. “Then it’s more cash flow for them. It’s a great way “The vast majority of clients are great and to be able to walk for somebody to immediately establish a retirement people through the process of selling their home and moving income stream. For some people they just hang onto it on to something else in life or buying their new dream home and use it to help pay off college for the kids.” is really gratifying,” he said. “You help the person through the process of buying or selling one of the biggest investments To people who are new to the business, as a true teacher, they have in their life. There’s a lot of satisfaction in that.” 14 • June 2019 • 15

preferred vendor spotlight GOFF CONSTRUCTION, ENVIRONMENTAL INSPECTION Bill Goff Construction of Oregon is an Bill grew up in Eastern Wash- Bills father was a farmer while his environmental contractor with 38 years ington. The small town where mother was a school teacher. He of experience in providing heating oil he went to grade school had a has three sisters (two older and tank decommissioning, soil testing, population of 106. “There were one younger). “We grew wheat, and contamination cleanup. They are only four students in my class,” oats, and barley. We also raised listed with the Oregon Department of Bill says. They then moved to cattle, pigs and chickens.” Environmental Quality (DEQ) #11905 another small town with a pop- & 16492 and the Oregon Construction ulation of 612 where there was After getting married, they moved Contractors Board (CCB) #52834.  a total of 17 in his class. to the Salem Oregon area in 1963 16 • June 2019

to broaden their employment the benefit of protecting both the en- considerations, personal preferenc- options and so his wife could vironment and your property values. es and methods available to remove be closer to her family. They From 20 gallons to 20,000 gallons, the contamination. They are a small now have a son, daughter, they are certified, licensed, bonded family run business that under- six grandchildren and seven and insured for all kinds of oil tank stands and respects the face to face great-grandchildren. decommissioning services. connections clients are looking for. Bill adds, “Since I grew up having Bill Goff Construction was Bill says, “Service is the only thing personal and close relationships born In 1981 after the economy we sell.” These tanks pose a greater with the people around me from the went through a slow down. The threat to the groundwater than the beginning, I knew that’s how I want- company he was working for soil. It is difficult to provide proper ed to treat my clients.” was struggling. “My son was maintenance work on them. a senior in high school and we Serving all of Oregon, Bill says started working together. As They offer soil testing to make sure “We would like to give the realtors time went on we hired neph- there are no tank leaks contaminat- and brokers the kind of service ews and local employees. We ing the environment. Older tanks can both they and their clients feel attended all the Oregon DEQ rust and therefore leak toxins into comfortable with. We want to an- classes that pertained to tanks the ground.   During the process of swer all of their questions.” and petroleum cleanup. It was removing an AST or UST heating oil a time when people were look- tank, they take soil samples and send Bill Goff Construction is here for all ing to change the direction of them to the lab for a soil analysis. Bill your environmental consultation environmental issues.” Goff Construction will counsel you needs. Check out their website at and provide the necessary recom- to Their mission is to help pre- mendations on the environmental learn more. They can be reached at serve the environment through rules per the Oregon Department of 503-559-8670 or [email protected]. their complete environmental Environmental Quality. consultation services. They can help decommission and Bill and his team work with their remove unwanted and aban- clients one-on-one to determine the doned above-ground AST or best cleanup options depending on below ground UST tanks for the level of contamination, financial • 17

Big banks pick their own products and rates. We act as your client's personal shopper. Brokers are better. CLAIRE ALLEN MAHONEY Vice President & Mortgage Broker 503-588-3511 NMLS#: 1082151 1820 Commercial St SE #100, Salem, OR 97302 Company NMLS# 40558 SilverDream Photography Portraits Headshots Weddings High school senior Equestrian Events Pamela Hagedoorn 503-507-5783 18 • June 2019 • 19

Koli Cutler “Our world right now could really use more selfless love” 20 • June 2019

making a difference Written by Jordin Koli Cutler is a licensed real estate ferent meaning and wasn’t frowned upon as it is today. broker at Keller Williams here in Salem, Oregon. Koli is on a disas- Koli quickly became interested and felt drawn to dis- ter relief team through FEMA, cover what this school entailed. He quickly approached a unique job he had prior to the school in curiosity and asked if he could volunteer real estate. Koli specializes in there. He willingly went back to this school a couple sign language interpreting for of hours a week and helped out with whatever was FEMA, and has been sent all needed around campus. This involved; field racking, over the country to provide re- pulling weeds, cleaning, and what was needed in lief for FEMA during unexpected general around the campus. He quickly discovered how tragedies. This has allowed him good this truly made him feel and learned that these to be present during many natural individuals are just as intelligent and gifted as every- disasters we have recently faced in the one else--they just had different needs. He felt a sense United States. Coming to work for Keller of pride in the work he was accomplishing, and saw the Williams, Koli discovered that the compa- fruitfulness in all he did and the joy it brought others. ny also held the same views in regards to helping others in need. Keller Williams Koli then dedicated each summer for the next 20 recently took a busload of people to the years helping medically challenged children and even site of Hurricane Harvey. Here, he was became a counselor to young men ages 7-9 or 13-15. able to work under both Keller Williams Koli became somewhat of an uncle to these boys that and FEMA. They provided shelter, and were growing up without a father figure in their lives. handed out food and necessities to those Leadership opportunities were also given to these boys who lost their homes. He truly admires and this helped establish confidence in them. Person- the heart behind Keller Williams and al hygiene was taught to them, as well as how to eat their care for others. This company alone healthy, exercise, and live a balanced lifestyle. has spent thousands and thousands of dollars on disaster relief for people that Koli grew up with two younger brothers. This allowed have lost their homes. him to confidently step into these leadership positions because he was already a father figure to his siblings. Koli is very passionate about his career and, furthermore, He taught his brothers how to play tennis, ride bikes, passionate about serving others. In fact, from a very young age, Koli felt drawn to this certain gift. To serve • 21 others is a gift, because only a select few truly devote their lives to sacrificing their own needs to help others. The earliest memory Koli has of when this all began was when he was in the 4th or 5th grade. He lived several blocks from a middle school and would walk by every day, until one day he noticed a sign outside that drew in his attention. The sign read “School for retarded children.” He wondered what the word “retarded” actually meant. Back in the 1960s, this sort of word took on a dif-

and even drive a car. Koli exclaimed, “They were my natural test subjects.” He chose to never inquire about receiving pay for his vol- unteer work because, as a young boy growing up himself, he didn’t have much love and guidance. What seemed like a loss was actually a blessing in disguise—one that paved the way for his future. Koli now spends a lot of time in the community helping people with disabilities clean up their homes, move out, or clean out storages. They donate a lot of the stuff to local non-profit orga- nizations around town. He also enjoys cleaning up the dog park, picking up trash, repairing fences, and even has done pavement repair. The community is empowering because everyone there has their heart in the right place; everyone always leaves feeling proud of what they have accomplished and the people they have helped out. Presently within the real estate community, Koli sees where there are a lot of mentoring roles available. Through guidance, teaching, and different programs, you can truly help out upcom- ing real estate agents start their career. He values so much of what Keller Williams has to offer through learning the correct motivation as an agent and the techniques that can enhance your career, because every agent has their own personal coach. Stories we hear like this are inspiring and empowering; we should always take a second to reflect on them. Furthermore, if something springs up inside your heart, I would encourage you to pursue that. Our world right now could really use more selfless love! 22 • June 2019

&industryexpert RMEOVRETRGSAEGEQA What I’ve noticed is very few people for a traditional mortgage, especially for older How much can they borrow? Loan understand Reverse Mortgages. With buyers who may soon be retiring or already be amount is determined by age (the older approximately 77 million Boomers in retired. Understanding how this incredibly flexible, the borrower the more they can borrow) the US and 10,000 being added to the unique and valuable tool works and where it can be and range from 40–65%. The average 62+ market every day – most lacking most effective will help you expand your business 65-year-old purchaser will need approx- sufficient retirement savings based and close more sales and move listings with design imately 60% of the purchase price in upon increased life expectancy – this elements that may be attractive to senior buyers. cash including closing costs. Note that is an alternative for both realtors and while these are good approximations, mortgage professionals who are looking What are the qualifications? changes in FHA guidelines and current for solutions for their senior clients. • At least one borrower must be 62 or older at the interest rates also play a factor in LTV. Boomers have exceeded 6.8 Trillion in home equity – most don’t realize their time of closing. Who is this a good fit for? The most home is an untapped retirement asset. • Primary residence only (current home if refi, or common scenario we see with our purchase transactions are buyers What is a reverse mortgage? The new home if purchase). who won’t net enough from the sale reverse mortgage concept has been • No minimum credit score requirements. Borrow- of their current home to pay cash for around for nearly than 60 years and the new home or condo they want to has evolved significantly into today’s ers must show their willingness to pay. buy and either don’t want a mortgage version, which is much safer and easi- • No maximum debt ratio. We use a simple residual payment or have difficulty qualifying er to understand than most would like for a traditional loan. to believe. In a nutshell, the FHA in- income test and often work with debt ratios far sured HECM reverse mortgage (now in beyond what traditional loans will allow. Who should consider a Reverse Pur- its 30th year) is a mortgage that does chase loan? A reverse mortgage isn’t not require borrowers to make regular What are borrower responsibilities? the right solution for everyone but monthly payments to the lender. Bor- • Maintain the property as a primary residence (at all buyers who age qualify should at rowers may make monthly payments, least consider whether it might make but there is no requirement. Over time, least one borrower) sense. Even if they can pay cash, that interest accrues on the outstanding • Pay recurring expenses: Property Taxes, Home- doesn’t mean it’s best for their overall balance. When the home is eventually financial health. sold, the entire loan balance principal owners Insurance, and HOA dues if any and accrued interest are paid off. Any • Maintenance on the home...same requirement as Wharton finance professor emeritus and all net proceeds (remaining equity) Jack Guttentag wrote in 2012, “... goes to the seller (or their estate) and with a traditional mortgage there is something wrong with the the shortfall is repaid by FHA. very low utilization among seniors Who owns the home? Borrower owns the home just who aren’t desperate but who could Why should you care? As a real as they do with a traditional mortgage. They can enrich their lives and don’t. There are estate professional, you should care refinance or sell it whenever they choose. about 25 million homeowners 62 or because it is an incredible financing older, and at least 10 million of them tool that expands purchasing power What happens if the loan balance exceeds the could significantly improve their lives and makes qualifying easier for older property value? Unless they are selling, nothing by taking out a HECM.” He wasn’t buyers. Since no monthly payments happens. When the house is even- tually sold, we referring to the use of a Reverse are required, qualifying for a reverse are required to accept 95% of the appraised value as Mortgage in a purchase transaction, mortgage is significantly easier than payment in full. but the same principals apply. How does a HECM work in a purchase transaction? It works just like any purchase with a traditional “forward” mortgage loan. We advance a lump sum at closing to be applied to the purchase price, buyer pays down payment and closing costs, which typi- cally come from the sale of their exit property. Lisa McCormick is a mortgage loan officer and reverse mortgage specialist with Cherry Creek Mortgage in Salem. Lisa has an extensive background originating a wide range of conventional and government insured programs including traditional FHA, 203k renovation loans and FHA insured HECM Reverse Mortgage Loans, VA, Conventional, Construction, Jumbo, and Private Placements. She has been in the home lending industry for 18 years and has a sincere desire to provide her borrowers with choices that would match their individual situations, honest advice, and full, clear disclosure. • 23

cocmomrernceiarl You know, that massive hole in Hosted & Written by: Joshua Kay, First Commercial Real Estate Services LLC the ground with the perimeter fence? Now imagine street-level Salem is at a tipping point. Our asking me, “What’s happening here retail and a mix of apartment economy is thriving, our population or there…,” or, “What’s going ‘in’ at units that span two buildings. is growing, and there are many great the so-and-so property?” Knowing non-profit organizations working what is coming to our city is a big 3. A new downtown hotel on the diligently on the challenges we collec- part of my role as a commercial corner of Commercial & Ferry tively face as our growth continues. real estate professional. There are (195 Commercial). While this The tipping point situation that I a few key projects coming down is not ‘housing’ (it is hospital- believe we are in is in the context of Salem’s pipeline that will, without ity), this $43MM development overwhelming demand for mixed-use a doubt, elevate and reshape our is taking advantage of the site’s development (think street-level retail downtown scene forever. These opportunity zone designation, and upper-level living), specifically in prospective projects are aiming and bringing this 123-room hotel our downtown core. People always are to fill this demand and bring fresh and rooftop bar to Salem. housing options to market. The developer is satisfying a mar- 1. Micro-Unit apartment on the ket demand for long term guests corner of State & Commercial (260 staying 7+ days. Their study shows State). This multi-million dollar a significant demand for more development encompasses 146 rentable hotel rooms in the Salem units, 136 of which are studio units market--especially luxury--and will and 5,300 SF of speculative ground be a welcomed addition and further floor retail space. This is filling serve to meet demand.  the void, providing cost-effective options for primarily single-user 4. Lastly, the current (soon to be occupants seeking an alternative former) Union Gospel Mission and non-conventional housing option. Saffron property site. Our firm has coordinated the sale with the city 2. Local developer Mountain West of Salem’s Urban Renewal Depart- Investment Corporation is in the ment, who will formally close on the portfolio once the UGM has initial stages of a 150+ multi-use secured occupancy at their new facility across from the new Salem facility on the corner of Liberty & Police Department’s facility. Upon closing, the city is going to issue a Chemeketa (280 Liberty St NE). request-for-proposal (RFP) to the development community. This pro- cess will be long and methodical, but righteous, as it is by far the big- gest opportunity our downtown has ever seen for large scale commer- cial and mixed-use development. The national trend shows an overwhelming trend towards an in- creased demand for urban/downtown living. People are seeking more livable, walkable and sustainable housing opportunities. From students to young professionals, healthcare workers, government employees and all the like--they are seeking the experience of living downtown. The prob- lem is a lack of supply for this product. The good news is that over the next several years we will see more product delivered to satisfy this great opportu- nity. Want to talk Salem? Let’s talk. [email protected]. 24 • June 2019

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agent feature By Rick Osborn As a passionate advocate for her beloved hometown of Sweet Home and the part owner of a multi-generational timber compa- ny in the area, you could say that Wendi Melcher has deep roots in Sweet Home.   Melcher, a 19-year-old veteran real estate professional, is a broker with Heritage NW Real Estate Inc. in Sweet Home, where she grew up. There’s no better community advocate than some- body who’s invested his or her life in that community’s wellbeing. She loves serving her community, both as a real estate broker and as a pillar of her community.   “My 19 years in real estate sales has taught me several things, but the one thing that stands out above all others is the sheer joy of helping people realize their dream of home ownership,” Melcher said. “I care immensely about this community of Sweet Home that I grew up in and working with the people that have and will continue to make this such a great place to live is my passion.”   Melcher and her family have deep roots in the community. Her husband of 26 years, Scot, father in law and sons are playing a role in the family business – Melcher Logging – which was started by Scot Melcher’s grandfather. Wen- di’s oldest son is a diesel mechan- ic with the enterprise and her younger son is a junior at Oregon State University studying forest operations so he, too, can return to the family business.   “By the time both of my kids will be there, it’ll be four generations,” Melcher said. • 27

The company does thinning and clear-cut Melcher’s son has been with the same girl about $1.5 million in scholarships over the logging. The family also launched Fun For- for about 10 years, in a relationship that years. Depending on investment earnings ests with a business partner, acquiring more began back in the seventh grade. When the from the endowment, between $35,000 than 2,000 acres of forest land over the last young couple wanted to get married, they and $75,000 worth of scholarships are several years that it manages as healthy picked an old barn on one of the family’s awarded annually. forests. When houses exist on the land Fun properties as the ideal site. They retrofit-   Forests acquires, they are used as rentals. ted the barn for the occasion and created a One volunteer activity that’s near and dear Sometimes the company logs portions of the wonderful venue for future family gather- to Melcher’s heart is the Boys and Girls Club new acquisitions to help pay them off and ings and picnics. of the Greater Santiam. The organization reforests for future generations of use.   serves both Sweet Home and Lebanon. She’s   “They got married on the property,” she said. served on the board for that organization Melcher got into the real estate business “We had some camping and stuff and about and currently runs the annual auction in as a young mom, when her two boys were 400 people were there. It was all outside and Sweet Home. Last year, the auction brought 2 and 4 years old. She worked on her real it was the party of the century. It took us a in about $185,000 for the club. estate license and it took her about four year to work in it, and it was awesome.”   years to build her real estate business.   “Some of it funds what programs are going After starting out with Coldwell Banker Working on the properties and running on here,” she said. Realty, she made the move to Heritage businesses has kept the family extremely   NW Real Estate Inc., starting in Lebanon. busy. When the two boys were younger, With substantial growth happening in Today she works primarily out of Sweet they participated in sports such as foot- Lebanon – where there’s a growing medi- Home. It is a perfect location for Melcher, ball, baseball and wrestling, which also cal center, medical school, VA facility and who grew up in Sweet Home from the time took a lot of time. When they aren’t work- numerous new housing opportunity – which she was 2 years old. ing, these days, the family enjoys camping is just 12 miles away, and Sweet Home’s vast   and riding out on the sand dunes. recreational opportunities and small-town “It takes a while to get into this business   charm, plenty of opportunity is presenting and make your name,” Melcher said. “I had Melcher also finds time to stay involved in itself for a thriving real estate business. to make my name stick with me. I was in a the community she loves. The Sweet Home   niche with a bunch of women and men who High School graduate has served as presi- “I think we’re growing and I think that had been in the industry a lot longer than I dent of the Sweet Home High School Boost- Sweet Home has had its own kind of had. You put yourself out in the community, er Club, and she’s served twice as president draw,” Melcher said. “You come here and and that’s where my niche was.” of the Santiam Board of Realtors. She’s also it’s like the gateway to the Cascades and   involved on the board of the Sweet Home everything. You have fishing, hunting, You could say that the real estate aspect Economic Development Group, an organi- camping and you have two great lakes. of the business has come full circle. Her zation whose goal is to partner with Sweet You’re right at the base of everything.” oldest son, who was 4 when her real es- Home to revitalize the community.   tate career was kicking off, was married   Houses in Sweet Home tend to sell for last summer on one of the properties The Melcher family donated $25,000 into about $30,000 to $50,000 less than near- she and her husband purchased for Fun a grant that provides perpetual schol- by Lebanon. Because of that, sometimes it Forests, a business that she expects her arships to graduating Sweet Home High takes more sales closings to generate the children will run in the future. School seniors. That effort has yielded same amount of commission as in some 2  8 • June 2019 other communities. But Melcher’s been able to close deals with people from the Mid-Willamette Valley as well as new- comers from California, Idaho, Montana and other states. With Lebanon’s growth, Sweet Home becomes a more attractive, nearby option for people seeking a smaller town where people are friendly.   “Sweet Home’s a great town and we’ve got some great people,” she said. “Once they get there, they fall in love with it. It’s all about the people. It makes you feel welcome when you come here to do some- thing. It makes a big difference.”

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