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Mortgage Interest Rates Fall

by Galand Haas

Good Monday Morning!

With a few snow flakes falling on Sunday it appears that Winter is having it's last fling in the Eugene and Springfield area.  Don't fear, Spring is just a few days away!

Stimulas packages, $8,000 first time buyer tax incentives.  Nobody know what kind of impact all of this is going to have in the nations ailing housing industry.  Locally, the unemployment rate that is closing in on 12% could have the largest impact on home sales.  Over the next couple of months we should start getting an indication of how long and how deep our local recession will be.  With all of this there are homes selling in our market area and buyers continue to find incredible deals on homes at some very attractive prices.  Mortgage interest rates fell at the end of last week making the home purchase situation even more attractive.

If you are intersted in receivng complete details on local bank owned and foreclosure properties you can log onto our webs site at www.Eugenebankowned.com.  You can sign up here to receive a weekly updated e-mail list of local forclosure homes.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

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25077 COTTAGE CT, Veneta, Oregon

Price: $195,000.00

Beds: 3

Baths: 2

Sq Ft: 1336

Description: This is a very charming, 1-level home with open floor plan, a well-fenced, a spacious backyard in a quiet neighborhood. The kitchen features lots of oak cabinets, a breakfast bar, a pantry and access ....

View this property >>



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

Bright Spot In Local Housiong Market

by Galand Haas

Good Monday Morning!

There are some bright things taking place if you are a Home Buyer or Seller in the Eugene and Springfield area.  There is now an $8,000 tax credit for first time Homebuyers that will go a long ways towards getting people into their first home.  This is good news as mortgage interest rates also continue to be very low and may dip even further in the weeks ahead..  Another situation that will benefit both Homebuyers and Sellers is that the FHA price range is going to revert back to $313,000 in Lane county..  This is will help sellers because the cap had been reduced to $278,000.  This will open up a price range for FHA financing that has been unavailable. 

Overall activity on home purchases in our area has picked up significantly over the past weeks.  Great prices on exiting home inventory with the attractive financing available is having a large impact on our local market.  Look for our market to heat up even further if mortgage rates take anohter drop.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

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79300 TREE TOP DR, Cottage Grove, Oregon

Price: $595,000.00

Beds: 4

Baths: 3

Sq Ft: 3073

Description: Beautiful home, only 5 minutes from the freeway, with fantastic views of valley, mountains and woods. Gorgeous wood-floor entrance to carpeted living room and upper level. The living room feature ....

View this property >>



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

February 2009 Market Trends Newsletter

by Galand Haas

February Newsletter from Galand Haas

Featured Listing

Featured Listing

For Sale: $525,000

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Lane County Real Estate

RMLS January 2009 Reporting Period JANUARY HIGHLIGHTS Sales activity in the Greater Lane County area was a mixed bag in January, as closed sales fell below 100, while pending sales appeared resilient. Comparing January 2009 with January 2008, closed sales dropped 46.3% and pending sales fell 28.9%. New listings a

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Feature Article

Recession-Proof Your Relationships Because February is the month of romance, it's important that we take the time to show it - and not just on the 14th! That's why I wanted to share with you these five tips by Kit Yarrow, a consumer psychologist and professor of psychology and business at Golden Gate University in San Francisco, tha

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LifeStyles

How Rich Are You? Every year there are those of us who gaze enviously at the lists of the richest people in world. We often wonder what it would be like to have that sort of cash? But where would you sit on one of those lists? And if you had that kind of cash, what would you do with it? Well, let's just see where you stand. Level I: $10,000

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Economic Stimulus Package

by Galand Haas

Good Monday Morning!

It was another great weekend for weather here in the Eugene and Springfield area.  This kind of weather certainly gives us Spring fever.

With the Stimulus Package going to the Senate this week, there will be some parts of it that certainly will have an impact on the nations ailing housing industry.  Some important items seem to have been removed, but the ones that remain could have immediate impact. 

What we are seeing though is that there is a continuation of soft home prices and great mortgage interest rates in our market.  We do not know what kind of effect the Stimulus Package will have, but we do know that right now is a unbelievable opportunity to purchase a home.  We are finding outstanding purchases for our buyers every week and more good homes just keep hitting the market at lower prices. It certainly is time to take advantage of this market if you are thinking of buying a home.

THIS WEEKS HOT HOME LISTING 

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25077 COTTAGE CT, Veneta, Oregon

Price: $195,000.00

Beds: 3

Baths: 2

Sq Ft: 1336

Description: This is a very charming, 1-level home with open floor plan, a well-fenced, a spacious backyard in a quiet neighborhood. The kitchen features lots of oak cabinets, a breakfast bar, a pantry and access ....

View this property >>



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

Fix Housing First Act

by Galand Haas

Good Monday Morning!

The "Fix Housing First Act", which is part of the Senate's Economic Stimilus Bill is now in front of the Senate and waiting for approval before being sent to the House.  This is an Act that would have far reaching effects and would certainly go a long way towards ending the free fall of our nations housing industry.  Passage of this Bill by both the House and the Senate would be a giant step towards ending the country's current economic woes.  In my mind this part of the Bill is the first real attempt thet I have seen towards an actual solution for the housing market woes.  This bill includes a $15,000 tax credit for all homebuyers, the reduction of interest rates on 30 year fixed mortgages to 4.5-4% and other important conditions that would quickly stimulate the housing market and this country's economy.

I strongly urge anyone who is passionate about turning our country's housing industry around to call or e-mail your Senators and Representatives and urge quick passage of this Act.

Have An Awesome Week!

HOT HOME LISTING OF THE WEEK!

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3350 Videra Drive, Eugene, Oregon

Price: $299,000.00

Beds: 3

Baths: 2.5

Sq Ft: 2096

Description: This unique and contemporary home is located in the Southwest hills of Eugene and offers 3 bedrooms, 2.5 bathrooms and approximately 2,096 square feet. A large covered front porch invites you into the ....

View this property >>



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

The Interest Rate Roller Coaster

by Galand Haas

 

Good Monday Morning!

We certainly had a grogeous and sunny Winter weekend here in the Eugene and Springfield area.  It looks like more of the same is on the horizon.

Mortgage interest rates increased slightly last week. This is a continuation of the interest rate roller coaster ride that we have been on for months.  My opinion is that rates will decline again in the near future.  Even though mortgage interest rates remain very attractive at just over 5% for thirty year fixed financing, the slight increase makes it harder for many to purchase a home.  This is a stark reminder that a 1% raise in mortgage interest rates negates a 10% decrease in home values.  There will be a time in the not so distant future when the mortgage rates take a turn upwards and don't head back down again.  It is for this reason that I continually repeat the fact that we have the opportunity of a lifetime right now with low financing rates and low home prices.  If you are on the fence about purchasing a home, I would suggest that you think about this scenario long and hard.

Have An Awesome Week!

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1010 Berntzen, Eugene, Oregon

Price: $210,000.00

Beds: 3

Baths: 2

Sq Ft: 1587

Description: Cute home in immaculate condition inside & out and sits at the end of a quiet culdesac bordering the park. It features arched doorways, wall-to-wall carpet, wood spiral staircase, lots of windows, ....

View this property >>



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

Local Unemployment Concerns

by Galand Haas

Good Monday Morning!

There is great concern over rising unemployment and the continued economic slowdown.  This concern is certainly justified and we are all impacted by this either directly or indirectly.  From this economic situation we are seeing some things that are good.  Prices on most consumer products are dropping, there have never been so many sales and even gas prices have come down substantailly.  Home prices have lead the way in reduced costs and we are now seeing the prices of homes roll back to where they were 4-5 years ago in many cases.  Lower home values means opportunity and for those who may be in a position to purchase a home whether it is for a primary residence or for investment, there really has never been a better time to do so.  Obtaining mortgage loans can be more challenging than in the past, but rates remain extremely attractive. 

Many ask me whether we have hit bottom in this market yet.  My standard answer is that I just don't know.  My guess is that we are close.  Reality is that we will never know when we hit bottom until the market swings the other direction.  For that reason it makes sense to take action soon if you are considering a home purchase.

THIS WEEKS HOT HOME LISTING!

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547 Collier, Springfield, Oregon

Price: $600,000.00

Beds: 3

Baths: 3.5

Sq Ft: 2944

Description: This very elegant 1-level home is situated on a quite lot with a beautiful view from several patios of the mountains and valleys. It features a beauifully living room with a vaulted ceiling, fireplace ....

View this property >>



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

December 2008 Real Estate Trends

by Galand Haas

Good Monday Morning!

The sunshine was a welcome site over the weekend.  Cold mornings and warm afternoons are very enjoyable this time of year!

The month of December 2008 Real Estate market statistics are in for the Eugene and Springfield area.  As expected the numbers show a continuation of the decline in our local housing market.  Average time on the market for single family homes was 126 days and the median home price dipped to $200,000, which was down from $225,600 in December of 07.  There was 10.7 months of active home inventory, which means at the current rate of sales it would take this many months for the inventory to sell if no new homes hit the market.  Overall home sales were down by 28.9% from December of 07 and the overall gross home sales volume for 08 was $740 million in comparison with $1.1 billion in 07.

For home buyers this is the perfect market with mortgage interest rates remaining under 5% for 30 year fixed conventional loans.

THIS WEEKS HOT HOME LISTING!

 

Image Unavailable

4848 Camellia, Springfield, Oregon

Price: $165,000.00

Beds: 3

Baths: 2

Sq Ft: 1212

Description: Charming 1-level home with spacious backyard in quiet location. The home features a living room with wall-to-wall carpet and bay window, a large famiy room with stone fireplace and a kitchen with a br ....

View this property >>



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

Displaying blog entries 1-8 of 8

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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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