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Monday Morning Real Estate Update 8/19/07

Wednesday, August 22, 2007
by Galand Haas

Galand Haas,

Good Monday Morning!

A little rain was a pleasant surprise.  It was great to settle the dust and water the plants.  More Summer is on the way!

The latest quarterly survey by the National Association of REALTORS® shows that home price trends are improving in metropolitan areas. But existing-home sales are below where they were a year ago in most states.

In the second quarter, NAR reported 97 of 149 metropolitan statistical areas showed year-over-year increases in median existing single-family home prices.

Total state existing-home sales are down 10.8 percent from a 6.63 million-unit pace in the second quarter of 2006.

The largest singe-family home price increases were seen in the Salt Lake City area, Binghamton, N.Y. and Salem, Ore. The best total sales performance on existing home sales were seen in: Wyoming, Iowa, North Dakota, Oklahoma, Indiana and Nebraska.   

Have An Awesome Week!



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand
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Monday Morning Real Estate Update 7/23/07

Sunday, August 19, 2007
by Galand Haas

Galand Haas,

Good Monday Morning!

The Real Estate market statistics are in for May of this year and as expected change is taking place. New listing hit a 7.8% increase for the month of May taking our home inventory to 4.5 months of supply.  This means that if no new homes hit the market it would take 4.5 months to exhaust the current supply at todays rate of sales. In May of 2006 there was 2.8 months of inventory.

The number of closed sales decreased by 4% from May of the previous year.  Pending sales dropped by 3.8% over the same time period.  The interesting fact is that the average sales price climbed by 10.3%  from $238,400 12 months ago to that of $263,000.  The average time it takes a home to sell in Lane County has hit 74 days. 

The gradual increase in home prices here is healthy.  If the trend of slower sales and higher inventory of homes for sale continues look for the home price increases to hit a road block.

Have An Awesome Week!



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand
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Monday Morning Real Estate Update 7/30/07

Sunday, August 19, 2007
by Galand Haas

Galand Haas,

Good Monday Morning!

It looks like a gorgeous week of Summer weather ahead of us! 

As the national Real Estate market continues to wind down, the market here in the Eugene and Springfield area also continues to cool.  At this time, the pace of our slow down does not seem to be as strong as many parts of the country. Inventories of homes for sale and average days on the market in our market continue to be less than many major U.S. Real Estate market areas.  What happens between now and Fall should give us an idea as to where our market will be heading for the next six months.  The opportunity here for home buyers has not been better for years, yet few are taking advantage of the lower home prices, the attractive mortgage interest rates and excellent home inventories.

Have An Awesome Week!



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand
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Monday Morning Real Estate Update

Sunday, August 19, 2007
by Galand Haas

Galand Haas,

Good Monday Morning?

The Real Estate market statistics are in for the month of June.  Home prices continue to increase with the median home sales price hitting $243,300.  This is up from June of last year when the median home sales price was at $235,000.  The inventory of homes on the market for sale continues to rise to that of 4.6 months.  This compares to 3.1 months of inventory for June of last year.  This number reflects the number of months it would take to exhaust the current inventory of homes for sale at the current sales rate.  When this number is below 6 months it is considered a sellers market.  When the number is greater than 6 months of inventory it is considered a buyers market. The average number of days it took a home to sell in June was 61 days.  This compares to 48 days in June of 2006. 

We have a sustaining home market right now, which is far better than what most of the country is experiencing.

Have An Awesome Week!

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Monday Morning Real Estate Update 8/13/07

Sunday, August 19, 2007
by Galand Haas

Galand Haas,

Good Monday Morning!

The great Summer weather just keeps coming our way.  It has been perfect.  There just is no better place to live than Eugene or Springfield, Oregon.

Troubles with the mortgage industry continue to make home purchases more difficult.  The hardest hit groups are the first time home buyers and the upper end home buyers.  Programs for 100% financing are now very limited and will be difficult for some time.  Rates have jumped on jumbo loans, making it less attractive for upper end home purchases.  These problems with mortgage loans are not going to help an already poor national housing market.

If you are considering a home purchase, you can call me at 541-349-2620.  I do have lenders that we work with who can offer the best loan possibilities in this current volatile market.

Have An Awesome Week!

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Haas Real Estate Team
Keller Williams Realty Eugene and Springfield
2645 Suzanne Way Suite 2A
Eugene OR 97408
Direct: (541) 349-2620
Fax: 541-687-6411
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