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The Market

by Galand Haas

Good Monday Morning!

Eugene and Springfield area homes sales were off slightly in January.  There were fewer closed sales in January of 2019 than in January of 2018.  This could indicate the beginning of a flattening Real Estate market here.  With mortgage interest rates down and a slightly higher inventory of homes on the market for sale, this also means an improved climate for homebuyers.  The next several months will give us a better indication of what kind of Real Estate market 2019 will be.  Here are the numbers for January 2019 home sales in the Eugene/Springfield area.

January Residential Highlights

Lane County started the year with some cooler activity relative to last January. New listings, at 371, ended 12.9% cooler than last year in January 2018, despite showing a 62.7% increase from last month in December 2018, when 228 newlistings were entered.

Pending sales fared similarly, cooling 18.4% from January 2018 (425) but warming 11.2% from December 2018, when 312 offers were accepted.

Closed sales, at 279, decreased 14.4% from January 2018 (326) and 17.7% from December 2018 (339).

Inventory rose in January to 2.2 months, with total market time decreasing by two days to end at 62 days during the same period.

Average and Median Sale Prices

Comparing the average price of homes ending January 31st of this year ($309,500) with the average price of homes sold in the twelve months ending January 2018 ($289,100) shows an increase of 7.1%. The same comparison of the median shows an increase of 8.8% over the same period.

Have An Awesome Week!


THIS WEEK'S HOT HOME LISTING!

2945 Ava Street  

Price: $360,000    Beds: 3    Baths: 2    Sq Ft: 1570

New Construction. this home is sure to impress. Open Living, Dining, & Kitchen. Great for entertaining. Master suite with walk-in closet and master bath. Two additional bedrooms are on opposite side of house. This home includes a Laundry room and a ...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Home Buying Trend

by Galand Haas

Good Monday Morning!


Last month, homes sales were down nationally and home values also dipped slightly. This took place at the same time that home mortgage rates were down over the previous several months. It is too early to tell, but this could indicate the fact that the housing market is going to flatten out this year and the trend for home price increases could be over for now. We will certainly know more by mid year, but the trend over the last few months looks as if the housing market is going to slow from the fast pace of the last several years. This trend could be extremely favorable to would be homebuyers.

Have An Awesome Week!

 

THIS WEEK'S HOT HOME LISTING!

3346 Roanoke Ave 

Price: $610,000    Beds: 4    Baths: 2.5    Sq Ft: 2577

This beautiful one level home features an open concept floor plan, tall ceilings, 4 bedrooms and 2.5 baths. Stainless steel Dacor appliances. Office space/den with french doors & builtins. Large island bar off kitchen, granite counters, and hardwood floors...... View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Preparing your home for sale!

by Galand Haas

Good Monday Morning!

One of the most frequent questions I am asked is, what do I do to get my home ready for sale?  This can vary quite a bit from home to home, but there are some things that remain fairly constant.  What you want to accomplish is to be able to get more money from your home sale without spending more than the additonal money you would spend on your improvements. Typically, items that will enhance the general appearance of your home are what you want to focus on.  Items such as painting, replacing dated lighting and plumbing fixtures, landscaping, counter tops, decluttering, cleaning, etc. are typically things you can do that will be good investments.  The following is an article from Realty Times that will give you some great ideas on what to do to your home to prepare it for sale and at the same time give you a good return on your time and money.

With home prices up in some areas, the return on remodeling investments at resale can be good. Making little changes can have big impacts when it comes to remodeling your home to sell.

Some updates will return as much as they cost in hotter markets, but unless your home is in a rapidly inflating city, you may not get enough bang for your buck.

But the lesson isn't to avoid remodeling your home. It's to rethink your expectations. Do you want to enjoy your updates for a few years? Or do you want to make your home more immediately appealing to homebuyers?

If you're remodeling for your own household, updating a home has a legitimate purpose that is unquantifiable. When you add square footage, update systems and fixtures, or rearrange traffic flow, you improve the functionality of your home. Refreshing wall colors, window coverings, and flooring adds to the beauty and enjoyment of your home. Many would consider that money better spent, and if you decide to sell in a few years, you'll be ahead of the game in terms of updates that will appeal to homebuyers.

But if you're remodeling strictly for the next buyer, there's some risk. Will you choose the right elements to appeal to the next buyer? What if they don't share your taste or appreciate the areas where you allocated your remodeling budget?

Start with what absolutely has to be done, whether you plan to stay in your home or not. You may be tempted to put off replacing the roof for an average of nearly $20,000, because Remodeling Magazine says it will only return approximately 72 percent of costs. But a new roof could make the difference in whether or not an FHA or VA buyer can buy your home and pass government inspection.

Otherwise, stick to smaller updates that can yield big impacts in terms of curb appeal, safety and building integrity. The top five cost-to-value projects that netted the most return in 2015 were:

 

  • Replacing the front door with a 20-guage steel door - 102 percent.
  • Manufactured stone veneer -- 92. 2 percent
  • Fiber-cement siding -- 84.3 percent.
  • Garage door replacement -- 82.5 percent
  • Wood window replacement -- 78 percent.

 

As you can see, the most lucrative projects for resale were all about curb appeal. Seal the deal with a new welcome mat, new sconces to complement the new steel door, and potted plants for color. Wow your buyers on the outside and they'll be more likely to choose your home over the competition.

Have An Awesome Week!


THIS WEEK'S HOT HOME LISTING!

39285 Upper Camp Creek 

Price: $950,000    Beds: 5    Baths: 3    Sq Ft: 3520

Private Camp Creek retreat located at the top of the hill & backing to land owned by Weyerhaeuser. This home features an open kitchen & dining area. Main level master suite & 2 extra guest suites w/balconies. Two separate living/family areas. Outdoor space w/patio, deck, garden & seasonal creek. Fully fenced dog run w/doghouse set w/electricity. Large 5 bay shop. RV hookups & parking. Please no drive-bys. Call for an easy appointment. View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Displaying blog entries 1-3 of 3

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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

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