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Significant rate hikes are on the near horizon.

by Galand Haas

Good Monday Morning!

We knew the day would come when the Fed's apetite for bonds would dwindle and interest rates would begin the rise.  With last weeks announcement by Fed Chief Ben Bernanke that the Fed would stop buying bonds later this year, mortgage rates jumped the gun and increased.  My guess is this was just a gut reaction and that mortgage rates should not take any huge increases yet.  The message is clear though that significant rate hikes are on the near horizon. This means that if you are considering a refinance of your existing home or considering purchasing a home the time is now if you want to take advatage of the low interest rates.  

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

 
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84446 N Enterprise Rd
Price: $359,000 Beds: 4 Baths: 2 Sq Ft: 2143
Wonderful Country Living! Over 2 acres of beautiful pasture, large fenced yard, barn, corral & tool shed. Stall in back of barn could be great shop. Attached 2-car garage with shelving, plus carport. Large living room with 2 fireplaces, dining room,...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Good Monday Morning!

The question that I am getting from almost everyone is, "How long will mortgage rates remain at their current low levels?"  My answer is always the same.  "Nobody knows for sure!"  Here is some insight though into what may be ahead.  Right now the government is purchasing around $80 billion dollars per month in bonds.  This rate of purchase is what is needed for the continuation of the current low interest rates. My thought is that rates are going to be somewhat volatile until the Fed meets on June 19.  With unemployment rising slightly there may not be any reduction of the bond purchase rate by the Feds when they meet.  If the Feds decide to reduce the bond purchase rate, then rates will jump as a result.  Long term, my thoughts are that most of the fluctuation is going to be minor for the next quarter or two as long as the economy remains flat.  A surge in employment could be the trigger for reducing bond purchase and the creation of higher mortgage interest rates.  My suggestion as always is that you know what you have today and it may not be here tomorrow.  If you want to take advatage of the low interest rates then don't delay.  If you are thinking about a home purchase or a refinance the best advice I can give you is do it now!!

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

2290 Agate St
Price: $450,000 Beds: 5 Baths: 3 Sq Ft: 3108
Charming home in great location! Home has been converted into 3 units: main level, upstairs apartment and basement apartment each with separate entrance. Altogether there are 5 beds and 3 baths. Spacious living room with large windows and archways, ...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Good Homes, That Are Priced Right, Can Go Fast

by Galand Haas
VideoVideo

Good Monday Morning!

With the Real Estate market heating up in the Eugene and Springfield area, finding the right home can now be more of a challenge for home buyers.  The good homes that are priced right can go fast and if you don't have the ability to really watch the market and know when new homes hit, you could have a tough time finding the prefect home.  In a market like the one we are experiencing now in the Eugene and Springfield area it is best to connect with a Real Estate agent who can watch the market for you.  This can give you a huge advantage.  Many times we find the perfect home for our buyers and let them know about it before it even hits the market. Also, home search web sites such as www.forhomeinfo.com where you can set up search parameters and be notified as new homes hit the market can give you a clear advantage with your home search.  

If you are a ready buyer, then having both a buyers agent and a home search web site working for you can make a huge differnce.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-in-Real-Estate-US-June-2013

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1715 Best Ln
Price: $335,000 Beds: 4 Baths: 2 Partial Baths: 1 Sq Ft: 2276
Charming Home on Big Lot! Detached studio with laundry and living room. Large fenced backyard, garden, patio area, long driveway with 2-car garage. Home offers quaint archways, large living room with fireplace, formal dining, large laundry/mud room ...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Today's Real Estate Market

by Galand Haas
VideoVideo

Good Monday Morning!

In many parts of the country the real estate market is so hot that as soon as a home hits the market for sale there are multiple offers.  The market in the Eugene and Springfield area is not quite that hot, but it certainly has improved over the market that we had for the past 4 years.  In some price ranges and areas we are beginning to see multiple offers more frequently here in our market area.  This usually creates a bidding war situation and can potentially escalate the sales price for the home.

The one thing to keep in mind is that even though there may be a higher demand for homes right now, the sales price is really controlled by the appraisers.  The appraisers have to find a value in the home that is reflective of the current market.  They do this to protect the lenders from loaning on a home for more money than it is truly worth.  Appraisers use past sales for the comparable properties to justify value.  In a hot market past sales will almost always be less than what the current market dictates.  This is why appraisals keep home prices in check and don't allow huge increases over a short period in home values.  When listing a home in a hot market this is always something that you will want to keep in mind.

Have An Awesome Week!

 

THIS WEEKS HOT HOME LISTING!

Video Link: http://eugeneoregonhomesforsale.com/video/87904-Oak-Hill-Drive-Eugene-Oregon

Image Unavailable
1715 Best Ln
Price: $335,000 Beds: 4 Baths: 2 Partial Baths: 1 Sq Ft: 2276
Charming Home on Big Lot! Detached studio with laundry and living room. Large fenced backyard, garden, patio area, long driveway with 2-car garage. Home offers quaint archways, large living room with fireplace, formal dining, large laundry/mud room ...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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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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