Real Estate Information Archive

Blog

Displaying blog entries 1-4 of 4

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!

 
Image Unavailable
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

Facebook

Stationery Footer

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

Image Unavailable
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

Facebook

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!

Image Unavailable
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

Facebook

How is the national Real Estate Market doing?

by Galand Haas

Good Monday Morning!

Here is a recent article from Real Estate Today that gives us a current perspective on the national Real Estate Market.

Lawrence Yun, NAR chief economist, explained, “Existing-home sales have risen nearly 20 percent since 2011, with job growth, record low mortgage interest rates and a large pent-up demand driving the market. Just when it seemed that home sales were taking a breather, new data from the National Association of REALTORS® (NAR) says that home sales in 2013 were the highest since 2006, well before the housing meltdown.

For all of 2013, housing sales totaled 5.09 million units, which is 9.1 percent higher than in 2012.

Yun says some momentum was lost toward the end of 2013 from disappointing job growth and limited inventory, but the year ended close to normal given the size of the population.

The national median existing-home price for all of 2013 was $197,100, which is 11.5 percent above the 2012 median of $176,800. That's the strongest gain since 2005 when prices rose 12.4 percent.

One bright spot was the decline of distressed homes in the mix. Foreclosures and short sales were 14 percent of December 2013 sales, down from 24 percent the year before.

Total housing inventory at the end of December fell 9.3 percent to 1.86 million existing homes on the market, a 4.6-month supply at the current sales pace.

Homes took longer to sell in December from November, but less time than in 2012.

The NAR suggests that home buyers and sellers face a few challenges in 2014. Mortgage rates are expected to continue to rise, and lenders and borrowers face new mortgage rules, such as new Qualified Mortgage underwriting standards.

But there's still plenty of pent-up demand, with more young adults moving out of their parents' home and into their own homes. The key is job growth, says the NAR. Only the confidence that stems from job security can enable first time buyers to buy and move-up buyers to purchase their next homes.

Fortunately, a new report by the U.S. Conference of Mayors suggests that nearly all U.S. cities are forecast to see economic growth this year, including some cities that have not really recovered from the Great Recession.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
46121 GOODPASTURE RD
Price: $425,000 Beds: 4 Baths: 3 Sq Ft: 3407
Beautiful, secluded, custom home on the banks of the McKenzie River, featuring a 32ft vaulted ceiling, 2 fireplaces, heated floors, skylights & gorgeous deck. Downstairs offers a lg kitchen with hickory cabs, stainless steel appliances, huge living ...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

Facebook

Displaying blog entries 1-4 of 4

Syndication

Categories

Archives

Contact Information

Photo of Galand Haas Team  Real Estate
Galand Haas Team
Keller Williams Realty Eugene and Springfield
2644 Suzanne Way
Eugene OR 97408
Direct: (541) 349-2620
Fax: 541-687-6411

Share This Page

Find Your Next Home

Homes for sale in the Eugene area are only a click away!