I’ve had the pleasure of doing several photoshoots with Leigh Tracey-Gaynair of HomeSmart. We also live in the same Highland Neighborhood and see each other regularly at the local neighborhood association’s monthly meetings. I put a series of questions to Leigh recently about her experience in the world of real estate:
1. What initially drew you to working with older, stately homes, and what do you find most rewarding about helping clients buy or sell these unique properties?
You know, I fell in love with vintage homes during my own house-hunting journey in Salem. There’s something magical about stepping into a 1920s Craftsman or a cozy Tudor Cottage and feeling the stories within those walls. What drives me now is matching clients with these architectural treasures and seeing their faces light up when they discover original wood moldings or a perfectly preserved butler’s pantry. It’s about protecting and enhancing pieces of Salem’s history while helping families create their own legacies.
2. In your experience, what are some of the most appealing features of older homes in Salem that tend to attract buyers? Are there specific architectural details or characteristics that resonate with clients?
Salem’s vintage homes, particularly in the Grant-Highland and Gaiety Hill-Bush’s Pasture Park neighborhoods, offer details you simply can’t find in new construction. Our buyers are consistently drawn to the craftsmanship – old-growth timber used in construction, hand-carved balusters, leaded glass windows, and those coveted archways. The 1920s Craftsman bungalows in the Court-Chemeketa Historic District are particularly sought after for their built-in cabinetry and signature front porches. Many also feature original hardwood floors, which were often milled right here in the Willamette Valley.
3. Have you noticed any recent trends in Salem’s real estate market, particularly regarding the demand for older homes? How do you think the market for these properties has evolved?
The market for vintage homes in Salem has seen interesting shifts in recent years. While overall inventory remains tight, we’re seeing strong interest from buyers moving down from the Portland area who are drawn to Salem’s more affordable properties. These buyers often appreciate that they can get a vintage property here for a fraction of what it would cost in Portland’s historic districts. The pandemic actually increased interest in these homes, as people wanted more space and separate home offices – features that many older homes naturally provide. There is always a market for vintage homes from the early 1900’s and Mid-Century Modern to 70’s and 80’s contemporary styles. People are drawn to their unique features and become stewards of these properties. It is truly romantic and rewarding.
Here are a few images from a shoot we did in South Salem off Croisan Creek Road earlier this year:
4. What advice would you give buyers considering purchasing an older home in Salem? Are there any unique considerations they should keep in mind?
For buyers interested in vintage properties, I always emphasize the importance of working with inspectors who specialize in older homes. It’s crucial to understand what you’re getting into – these homes often need specialized maintenance and sometimes updating of electrical or plumbing systems. I recommend budgeting for both immediate and long-term maintenance. Also, familiarize yourself with Salem’s historic district guidelines if you’re buying in one of our historic neighborhoods. While these rules protect the character of our historic areas, they can affect what modifications you can make to the property. Choosing a realtor familiar with the quirks and concerns of a vintage home is paramount in having a good experience and choosing the right property.
5. In your view, what makes Salem’s real estate market distinct from other areas in Oregon? How does the city’s character or community play into the appeal of buying an older home here?
What makes Salem unique is our remarkable preservation of entire historic neighborhoods. Unlike some cities where historic homes stand isolated among newer development, Salem has intact historic districts that maintain their original character. The Bush’s Pasture Park area, for instance, offers a complete snapshot of early 20th century architectural styles. We also have several pockets of stunning Mid-Century Modern homes in west and southeast Salem or south Salem like the highly desirable Candelaria neighborhood. Additionally, we have several designated Heritage Neighborhoods featuring vintage homes with charming character. The proximity to state government offices in these “close-in” neighborhoods means we have a stable employment base, which helps maintain property values. Plus, our location in the heart of the Willamette Valley means homeowners can enjoy both small-town charm and easy access to Portland or the coast.
I tell my clients that owning a vintage home in Salem isn’t just buying a property or being its steward – it’s becoming part of a community that values architectural heritage and character. These homes supply the owner with a lifestyle along with a beautiful place to live. Although some may require more commitment than newer properties, the rewards of owning a piece of Salem’s history are truly special.
The real estate industry is constantly evolving, and 2025 is no exception. Economic shifts, technological advancements, and changing consumer expectations mean that real estate agents must stay on their toes to remain successful. Whether it’s navigating rising interest rates or mastering new tech tools, the ability to adapt is key.
In this post, we’ll explore the biggest challenges agents are likely to face in the next year and provide actionable strategies to tackle them. From managing inventory shortages to building a strong personal brand, here’s what you need to know to stay ahead of the curve.
Challenges Real Estate Agents Face in 2025
1. Rising Interest Rates and Market Uncertainty
– The Challenge: Higher mortgage rates could lead to fewer buyers and longer listing times.
– The Solution: Educate clients on creative financing options, target cash buyers, and hone local market expertise to navigate fluctuations.
2. Inventory Shortages
– The Challenge: Limited homes for sale can create intense buyer competition.
– The Solution: Build relationships with builders, promote off-market listings, and help sellers see the advantages of listing now.
3. Evolving Technology
– The Challenge: Staying up to date with new tools like AI property searches and blockchain transactions.
– The Solution: Adopt tech that enhances client experience, such as virtual tours and CRM systems, and stay informed on industry innovations.
4. Changing Consumer Expectations
– The Challenge: Buyers and sellers demand faster responses and customized services.
– The Solution: Use high-quality marketing materials, maintain consistent communication, and provide neighborhood insights.
5. Increased Competition
– The Challenge: Competing with big platforms, iBuyers, and discount brokerages.
– The Solution: Differentiate through local expertise, strong branding, and niche specialties like luxury or eco-friendly homes.
6. Compliance and Regulatory Changes
– The Challenge: Adapting to new laws about fair housing, disclosures, and compensation.
– The Solution: Stay educated through regular training, inform clients about regulatory changes, and consult industry professionals when needed.
7. Maintaining Work-Life Balance
– The Challenge: Longer hours and pressure to secure deals.
– The Solution: Use time-blocking strategies, delegate non-core tasks, and invest in mobile tools for efficient work on the go.
8. Focus on Sustainability
– The Challenge: Buyers increasingly seek energy-efficient and eco-friendly homes.
– The Solution: Highlight green features in listings, collaborate with energy experts, and stay updated on local sustainability incentives.
Conclusion:
As the real estate market evolves, the agents who thrive are those who embrace change and tackle challenges head-on. By staying informed, adopting the right tools, and focusing on client relationships, you can turn potential roadblocks into opportunities for growth.
2025 may bring its share of uncertainties, but with the right strategies, it’s also full of potential for success. What are you doing to prepare for the challenges ahead? Let us know in the comments!
Introduction: I recently had the chance to reach out to Mark Thomas and Debbie Dailey of Realty One Group, two experienced real estate agents who bring a thoughtful perspective to the current housing market. Though I’ve only had the pleasure of working with them on a few shoots so far—two of which included aerial photography—their appreciation for high-quality visuals highlighting a home’s details was evident from our first collaboration. They discovered my services through a referral from a fellow client, Leigh Tracey-Gaynair, after seeing a set of photos Mark described as capturing the “architectural” essence of the property.
In our Q&A session, Mark and Debbie shared their insights on the effects of the recent dip in interest rates, evolving buyer expectations, and the challenges their clients face in today’s market:
1. How has the recent drop in interest rates affected your business? Are you seeing more activity from buyers and sellers?
The most recent drop of ½ a point on Sept. 20th probably won’t have much impact on the housing market until sometime into the first quarter of next year. The discussion or buzz around rate drops does have some influence on the buyers currently active in the market. It is encouraging to see some signs of movement in that direction. The hope will be to buy while prices remain where they are and later refinance for a better payment option. We are seeing an increase in listings as potential sellers home to have the opportunity to buy themselves!
2. What kind of feedback are you hearing from potential clients regarding the current market conditions?
Current market conditions is a very full term. Home prices are their highest ever and we have the lowest relative consumer wages. Couple those things with the highest interest rates in a decade and it seems that few know what to do. That doesn’t change that fact that for most buyers…when it’s time to buy, you do the best you can with what you have. That “time” is determined by the birth of a child, loss of a family member, divorce, or perhaps Mom and/or Dad moving back in. This lowers the expectations for many buyers who end up perhaps buying a slightly older home or one in an older neighborhood at a lower price than expected. As we see more homes listed on the market we expect to see some lowering of the housing prices.
3. Are your clients feeling more confident about making offers now, or are there still some hesitations?
Offers really aren’t the problem. Qualifying becomes a moment of enlightenment. We all just want to know which loan packages the banks will let us in to. We would all own a million-dollar home if the payments were approved! Of course this isn’t a concern for those with cash payments, 800 plus credit ratings, or a large sum of equity from an out-of-state sale. The best thing to do is “get in the game” and see what you qualify for and perhaps you will find a home that is perfect for you!
4. Have you noticed any shifts in the types of homes or price ranges that buyers are targeting with the lower interest rates?
Lower rates are kind of a sliding scale. If your credit is premium, then you get a little bit better rate, but every credit rating will see some improvements as the prime rate comes down. Higher prices in “stick-built homes” means that entry level home ownership is now at an all-time high! What is the new “entry level”? Manufactured homes or even Tiny Homes. Get into a home that is customarily less expensive, but wouldn’t you know the prices of those have been on the rise now as well. They have come down some in the last 6-12 months as we see increase in the part rents for those homes.
Our conversation highlighted some of the unique challenges and opportunities in real estate right now. Mark and Debbie’s insights reveal that while lower interest rates might offer hope, the impact is more nuanced, affecting buyer confidence and market activity gradually. Despite this, they see potential in helping clients make the most of what’s available, whether that means adjusting price expectations or exploring different home options. Working with agents who share such a clear commitment to guiding their clients through this complex landscape is always a rewarding experience.
