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The Numbers are in: March 2014

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Good Monday Morning,

March home sales numbers show that the Real Estate market in the Eugene and Springfield area continues to improve and remain strong.  Here are the statistics for home sales in the Eugene and Springfield area for March of 2014.

March saw an upturn in real estate activity in Lane County! The 520 new listings bested February’s 351 by 48.1%, and last March’s 470 by 10.6%. Pending sales, at 367, rose 44.5% over February (254) and 2.8% over March 2013, when there were 357. Closed sales, at 262, rose 22.4% over February’s 214, but represented a 5.8% decrease from the 278 closings posted in March 2013.

Total market time dropped to 96 days in March, and inventory dropped to 4.9 months.

First Quarter 2014

The real estate market in Lane County is slightly less robust than the first quarter of 2013. New listings (1,279) are even with numbers from the first quarter of last year. Pending sales (894) and closed sales

(660) show a 3.2% and 4.3% drop, respectively, from the 924 pendings and 690 closings from the first quarter of 2013.

Average and Median Sale Prices

The average price in the first quarter this year was $220,800, up 9.4% from the first quarter of 2013, when the average was $201,900. In the same comparison, the median has risen 10.4% from $180,000 to $198,800. 

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!



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88604 ERMI BEE RD
Price: $629,000 Beds: 4 Baths: 3 Sq Ft: 3376
Gorgeous and private estate on a serene 5 acre parcel. Outstanding views from every room. Completely remodeled to ultra contemporary style April of 2014. Light and bright, granite counters, hardwood flooring, and extensive luxurious outdoor living a...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Good Monday Morning!

Are you considering selling your home? If so, there are certain things that you can do that will enhance the appearance of your home and get buyers excited.  The result of your efforts can mean a shorter time on the market and more money in your pocket.  Here is a recent article from Real Estate Today that addresses this.

As a seller, you have a lot more control in pleasing buyers than you think. If you start the selling process by learning what buyers really want, you can prepare your home to come as close to their dreams as possible.

Here are the five biggest turn-ons for homebuyers and what you can do to please buyers.

Curb Appeal

You only get one chance to make a first impression. Your home should sell to the buyer from the curb. That's how important curb appeal is. Your buyer should be so impressed, so charmed, so delighted that they want to leap out of the car and run inside.

How do you create curb appeal? Show attention to detail. Your home has to be prettier, cleaner and in better condition than its neighbors.

Start with sweeping the drive, walkway, and porch or entry of dirt and debris. Get rid of leggy bushes, wilted flowers and broken tree limbs. Plant fresh flowers in the front garden or in containers at the entry.

Power-wash the exterior and hand-wash the windows. Touch up paint around the windows, if needed. Paint the front door a fresh, modern color. Replace the door hardware and porch sconces.


Space

The number one reason why people buy homes is to have more room. Whether they're moving from an apartment or moving up from the home they have, they want to have plenty of space to do the things they enjoy.

If you have a large home, you're golden, but that doesn't mean you've got it made. You can ruin a buyer's first impression with too much clutter, so make sure to keep your home picked up so your buyer can see your home's features clearly and easily.

What if you don't have a lot of space? Plan to do some storing and staging. Rent a storage unit and put away all out of season clothes, toys, and home decorations and accessories. Clean off all tables and countertops so you have only the minimum of things your need to operate your home. Empty closets of anything that is "stored" and move it to the storage unit. The small expense you'll pay in storage fees you'll more than make back from your buyer's offer.


Updates

There's a reason why first-time buyers and singles tend to buy older homes - they're more affordable than buying new. So unless your buyer is a building contractor, chances are they want a home that's as updated as possible.

You may not be interested in putting in a new kitchen in order to sell your home, but you can do a few things to make buyers happy. Replace the most dated features - countertops, cabinet pulls, or appliances.

Bathrooms are so personal that they can easily turn buyers off. Invest in new towels, bathmats and a shower curtain. Throw out slimey soaps and limp ragged bath sponges. Replace with liquid shower and bath products. You can take all the new stuff with you to the next home.

Painting is expected by buyers, but don't repaint the same colors that you chose 10 years ago. Pick an updated neutral like a warm grey instead of beige. Be sure to choose a color that will complement the architecture and flooring in your home.

Keep in mind that the typical home purchased in 2013 was 1,860 square feet and built in 1996, so homebuyers aren't expecting your home to be a mansion, nor do they expect it to be new, but they do expect to see pride of ownership. The more tweaks, updates and repairs that you perform, the more confident your buyers will be that they're choosing the right home.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

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450 FIGUEROA ST
Price: $185,000 Beds: 4 Baths: 2 Sq Ft: 1840
Solid, comfortable home on 0.32 acre lot! Well-built home with charm, lots of storage space, coved ceilings, built-ins, wood floors. Living room with large windows, fireplace, & skylight. Formal dining with built-ins. Kitchen with eating area. Maste...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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The Benefit of using a Buyer Specialist.

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VideoVideo

Good Monday Morning!

With the inventory of homes for sale remaining low in many neighborhoods of Eugene and Springfield, just doing an internet search may not be enough right now.  Many of the great home listings go fast and that means that a good share of them never hit the market.  A good number of homes sell by word of mouth before they are placed into MLS.  This is why in the sellers market that we are currently in, it is important to connect a Buyer Specialist Realtor who knows the current market and also actively networks with fellow agents.  This just might be your best bet for finding the perfect home in this market.

Lisa Frey and Gail Dewitt are Buyer Specialists on my team.  Both Lisa and Gail are seasoned experts, they continually keep up on the current market and they both have an extensive network of fellow agents.  They are very successful in locating many homes before they hit the market.  If you want the competitive edge with your home search, please contact us and Lisa and Gail can start working for you today!

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-in-Real-Estate-April-2014-US

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4390 BERRY LN
Price: $298,000 Beds: 3 Baths: 2 Partial Baths: 1 Sq Ft: 2146
Peaceful Retreat! Enjoy Awbrey Farm subdivision with private driveway in quiet, friendly neighborhood. Property features large deck overlooking spring creek, pond, wonderful gardens, and views of wood Ducks and owls in the trees. Sunken living room ...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Home Seller: A Cost vs Value comparison 2014

by Galand Haas

Good Monday Morning!

I am asked frequently about whether to remodel or to sell.  For the most part, remodel projects are far more expensive than building new.  You may easily end up with more money invested in a remodeled home than you would have if you had purchased another home that better fit your needs.  If you have a home that you love everything about it, you feel that many of it's assets would be hard to duplicate and you think that you are going to want to live ther for antoher 7 to 10 years, then remodeling could be a good option.  If the answers to this is negative, then you should consider purchasing another home.  Here is an article from Realty Times that addresses remodel and updates.

Before you invest in remodeling, it's wise to think about upgrades that get you back the most money when you resell.

Remodeling magazine's annual Cost vs. Value Report for 2014 offers research that shows the best and worst returns in remodeling based on price and location.

You get the most money back at resale with these updates:

  • Entry door replacement: 96.6 percent 
  • Deck addition (wood): 87.4 percent
  • Attic bedroom: 84.3 percent
  • Garage door replacement: 83.7 percent
  • Minor kitchen remodel: 82.7 percent

The worst returns were with these updates:

  • Home office remodel: 48.9 percent
  • Sunroom addition: 51.7 percent 
  • Bathroom addition: 60.1 percent
  • Backup power generation: 67.5 percent
  • Master suite addition:  67.5 percent
It's all interesting information, but does it really apply to you and your situation?

For example, installing a new front door gives you the most bang for the buck of any improvement, according to the magazine. You get back 96.6% of every dollar you spend, especially if you buy a steel door.

But do you really need a new front door? Unless your door is cracked or missing pieces of veneer, you may be better off painting it a fresh modern color. Repeat the color somewhere else - in a planter or on the porch swing and you've just raised your curb appeal.

Don't assume that you need to replace a feature when a repair will do. For example, when you open and close a door over and over, eventually you weaken the frame. Perhaps that's where you should put your money. Your carpenter can reframe the entry and make your lock fit better than it does now. Paint like you'd planned to, add shiny new hardware, and your entry will look fresh and new.

Consider how long you plan to stay in the home. Instead of worrying what buyers will think, or how much money you'll get back for improvements, choose projects that provide the most comfort and convenience for your household.

You can borrow square footage from a room that doesn't fit your lifestyle. A formal living room can contribute some space so you can enlarge the kitchen. Filling out an attic to make a bedroom or a playroom, allows you to add more living space without a lot of expense.

Adding a sunroom, a second story, or a new master suite may be worth the extra cost as long as you really, really want the space and you're not overbuilding for the neighborhood. Just keep in mind that you'll need a building permit, and that the work could go on for months.

Don't attempt major remodeling without an architect or an experienced contractor. You'll be tearing down a wall, pouring a foundation, and adding more to the roof, and more, so take advantage of expert help. Make sure that any project that you do compliments the architecture of the home. A modern minimalist kitchen can work well in a 50s ranch home, but will do little to enhance a traditional Victorian.

Generally, smaller projects return more than big projects, so start there. Fix what you can as far as repairs go. As you spend time living in your home, you'll get a better idea of which improvements make the most sense for your budget.

Who knows? You may make your home so perfect that you don't need to worry about cost VS value for years to come.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
4390 BERRY LN
Price: $298,000 Beds: 3 Baths: 2 Sq Ft: 2146
Peaceful Retreat! Enjoy Awbrey Farm subdivision with private driveway in quiet, friendly neighborhood. Property features large deck overlooking spring creek, pond, wonderful gardens, and views of wood Ducks and owls in the trees. Sunken living room ...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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The Numbers are in: February 2014

by Galand Haas

Good Monday Morning!

The statistics show that our stronger Real Estate market in the Eugene and Springfield area is carrying through to Spring.  Even though our market is better, there are certainly some warning signs on the horizon.  The average sales price has jumped significantly since February of 2013.  This along with the rise in mortgage interest rates makes it harder to purchase a home.  This is especially true for first time home buyers.  This could certainly lead to a slow down in purchase activity.

February Residential Highlights

January’s increase in pending sales ushered in a rise in closed sales this February in Lane County. The 214 closed sales represented a 22.3% increase over the 175 closings from January, although the number is two less (-0.9%) than last February’s 216. Pending sales (254) fell 12.4% from January’s 290 and 24.4% when compared to last February’s 336. New listings, at 351, fell on both counts as well—a 10.7% decrease compared to January’s 393 and a 22.9% decrease compared to last February’s 455. Overall, the year- to-date numbers for new listings, pending sales, and closed sales are slightly cooler than in 2013.

Total market time rose to 129 days in February, and inventory fell to 5.7 months.

Average and Median Sale Prices

Prices are steadily rising in Lane County. Comparing the average price of homes in the twelve months ending February 28th of this year ($227,200) with homes sold in the twelve months ending February 2013 ($203,100) shows an increase of 11.9%. In the same comparison, the median has increased 13.8% from $180,000 to $204,900. 

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

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46080 MCKENZIE HWY
Price: $225,000 Beds: 4 Baths: 2 Sq Ft: 1796
Adorable home on 0.65 acre lot! Wonderful park-like setting with huge yard, patio area and views of the mountains. Great shop with workbench, cabinets, can be 2nd residence. 3 bay carport with storage space in roof. 200sqft shed with attached dry co...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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The Real Estate market has shifted.

by Galand Haas
VideoVideo

Good Monday Morning!

Nationally, and here in the Eugene and Springfield area, the Real Estate market has shifted.  We have travelled through a long buyers market and now with a much lower inventory of homes for sale, we are in a sellers market.  What does this mean for home buyers? First of all, it means that typically a buyer will not have the negotiating power that they had during the buyers market.  Good homes that are priced reasonably sell quickly and many with multiple offers.  This means that a buyer may have to give it their best shot with the first offer or miss out.  This also means that buyers may have a harder time finding the right home in this market.  With fewer homes to choose from, finding the perfect house is going to be more difficult.  It is also important in this market for buyers to have all of their Ducks in order.  Having a lender letter readily available to present with an offer is essential.  Last but certainly not least, it is essential that you have a strong professional home buyer specialist Real Estate agent working for you.  Without having a buyers specialist who knows your needs and wants and who can search the market for you, your chances of finding a great home at a good price are going to be tough in this market.  

We find great homes for our buyers every day.  Just because we are in a sellers market does not mean that purchasing a home needs to be frustrating.  A buyers market just means that if you are wanting to purchase a home, you need to be on top of things and have a strong agent who knows the market working for you!

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-in-real-Estate-March-2014-US

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369 Lenore LOOP
Price: $240,000 Beds: 3 Baths: 2 Sq Ft: 1634
Brand new home! Features granite counter tops, bamboo floors, accent lighting, vaulted ceiling, with Great Room. Gas fireplace and built-in shelves in living room. Dining area with skylight. Kitchen with island, eating bar, pantry and recessed light...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Inventory is low. The time to sell is now!

by Galand Haas

Good Monday Morning!

Nationally, the inventory of homes for sale is much lower than it was just a year ago.  Here in the Eugene and Springfield market area this is very true as well.  In many areas such as Ferry Street Bridge, North Gilham, Thurston and Santa Clara, there is a significant shortage of homes on the market right now.  There are buyers looking who just can't find a home because of the current shortage.  This has created a sellers market, which means that the sellers have the advantage due to this shortage of current inventory.  

Several times over the past months, I have mentioned that if you are wanting to sell your home this year, the worst thing you can do is to wait until Spring/Summer.  Homes are a commodity and the sale of homes is subject to supply and demand.  Low demand and high inventories makes it hard to sell a home and typically in this kind of market the seller should expect to sell at a lesser value.  High demand and low inventory creates the opposite effect and sellers can now expect to sell at top market value in a much shorter time frame.  By Spring/Summer inventories of homes typically increase and the time it take for a home to sell will usually increase at that time as well. This can also have a significant impact on the price your home will sell at.

If you have a home that you have tried to sell previously and failed or if you are just thinking of selling this year, don't wait.  The kind of market that we are experiencing right now is typically short lived.  Two months from now, you may have missed the opportunity.

If you would like to have a free home sale consultation, please contact me.  This is a short visit and there is no obligation at all.  This meeting will give you the information you meed to make the decision as to whether you want to sell now or wait.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

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325 22ND ST
Price: $197,000 Beds: 3 Baths: 2 Sq Ft: 1578
Wonderful Updates and Features! Adorable home updated from floor to ceiling, laminate wood floors, tile shower with body jets, large master suite upstairs. Living room with fireplace, updated kitchen with dining area and slider. Attached 1-car garag...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Good Monday Morning!

One of the most common questions I am asked is, "should I just stay in my existing home and remodel or should I purchase another home?"  Here is an excellent article written by Blanch Evans from Realty times that addresses this very subject.

Before you pour your savings into a new kitchen and a rainforest shower for the master, think about whether or not you'll be able to recoup your investment when it comes time to sell.

If you have equity in your home, you can make improvements, but don't go over the limit of what other buyers can spend for a home similar to yours in your neighborhood.

While it's tempting to make your home more beautiful, you have to consider the rest of your neighborhood. If most residences in your neighborhood are three-bedroom single-story homes, buyers are unlikely to shop in your area for two-story four-bedroom homes.

Buyers want to shop for a home where there is the most selection of homes that fit their criteria. If they want a swimming pool, they're going to look in neighborhoods where many homes have pools. They won't be aware of your home if you have the only pool in your subdivision.

That's why over-improving for the neighborhood is a bad idea. Not only will you not get your money back for some updates, your home my be harder to sell because of them.

Another reason buyers don't tend to pay as much for updates as you might think is broad differences in taste. Your updates may include choices your buyer wouldn't have made because of several reasons:

You only improved one or two rooms, leaving the rest of the home looking unfinished.

Your updates were too radical, such as cold minimalism in a traditional setting.

Your updates masked a problem but didn't solve it, such as a kitchen that's too small. If the kitchen is still too small after you've put in granite counters, don't expect buyers to care.

You failed to do necessary repairs and updates that were less visible than the new décor but buyers noticed anyway.

Your updates are beautiful but require a lot of cost and upkeep.

Buyers want to make a home their own, and don't want to be distracted or confused by design statements that they don't agree with. Enjoy your home while you can, but make sure your new look can be easily depersonalized when it comes time to sell.

Don't expect to set a listing price based on what you've put into your home no matter how long you own it. Your home will be worth market value no matter when you sell, whatever the value is for that point in time.

All the improvements in the world won't change that basic fact. Your home and the improvements you make are only worth what willing buyers say they will pay.

Before you begin renovations, talk to your Realtor and your lender. They will help you develop a reasonable plan for updates that will add value to your home.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

 
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46747 GOODPASTURE RD
Price: $750,000 Beds: 4 Baths: 3 Sq Ft: 3124
Custom home with awesome river views! Great room welcomes you with spacious rooms, numerous windows and skylights, vaulted ceiling with wood columns, detailed custom woodwork throughout. Master suite includes his-&-her closets and sinks, soaking tub...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Home Seller: How to Price Your Home for Sale

by Galand Haas
VideoVideo

Good Monday Morning!

Even though the inventory of homes on the market for sale in the Eugene and Springfield area is on the low side, it is essential that if you are considering the sale of your home that you price it correctly.  Each time that I expereince a listing where we price high to test the waters, it brings home the reality that this costs the home seller both time and money.  Typically, with this scenario we will get showings, but we don't see offers.  It's only when we make the decision to price with, or below, the market that we will usually see offers.  Home sellers who price with the market will typically get better offers, sell in a shorter period of time and for more money than those who choose to test the water.  

For this reason, I am extremely cautious when givng sellers a value on their home.  If we price too high, the home sits and if we price it too low, we give money away. I can typically come within a few thousand dollars of a homes sales price with my value analysis.  The sellers who rely on my information and listen to the market are typically the ones who put the largest amont of money in their pockets with the sale.

Have An Awsome Week!

THIS WEEKS HOT HOME LISTING!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-in-Real-Estate-Feb-2014-US

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24155 HEWETT RD
Price: $850,000 Beds: 3 Baths: 3 Sq Ft: 3154
Equestrian Oasis! Over 20ac of private & serene views, 2 pastures, 6-stall barn w/ tack rm, office, wash rack, indoor riding arena, storage, shop, full bath & laundry. Custom home w/ vaulted 22ft glass prow front, great rm, 9 skylights, oak cabinets...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Good Monday Morning!

The following article from "Realty Times", gives a great perspective on our current national Real Estate market.

Since 2011, home prices have gained in the double digits, making a price plateau inevitable. But are we really entering a bear housing market? Not if we look at long-term fundamentals. Rising prices allowed distressed properties to sell, allowing the nation to work through huge oversupplies. Investors were on board until prices returned to normal in many markets.  

Case-Shiller economist Dr. David Stiff explains, "Non-investor demand, although increasing, will not replace demand from investors."

Since housing is far more affordable now than it was in 2006, there is less concern that a new housing bubble will occur, Stiff said in a recent statement. Consider this. As of Q3 2013, the ratio of the median monthly mortgage payment to the median monthly family income was 35 percent lower than it was in Q1 2006 - a 40-year low.  Affordability comes strongly into play when inflation is taken into consideration. It's said that historically, home values beat inflation by approximately one to two percent annually.

In the last ten years, inflation has grown by about 2.4 percent annually, while home prices lost nearly half their value. During the housing recovery, double-digit home price increases handily beat tepid inflation.  According to the U.S. Labor Department, inflation rose 1.5 percent in 2013, while home prices were up 11 percent, says CoreLogic.  In Q3 2013, home prices were 17 percent above the lows reached in Q4 2011 and 23 percent below the peaks reached in Q1 2006. Price appreciation is expected to throttle back to 4.2 percent in 2014, according to CoreLogic's Case-Shiller Index.

While it appears a bear market for housing could be forming, prices are still gaining close to the long-term average of 4.5% since 1975.

As for inflation? Kiplinger's predicts a 2.7 percent gain for 2014, making housing an excellent hedge.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

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920 SUMMIT BLVD
Price: $295,000 Beds: 3 Baths: 3 Sq Ft: 2851
Hilltop Haven w/ Impressive Views! Perfect for entertaining w/ valley & mountain views, 4 decks, 3 sliders, hot tub, wet bar w/ sink & eating bar, & great rm w/ fp! Large viewing window in living rm, kitchen w/ large eating bar, dining area w/ slide...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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