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Is the Housing Market rebounding in Eugene and Springfield?

Friday, September 25, 2009
by Galand Haas

Good Monday Morning!

What a gorgeous weekend it was!  Has Summer arrived early this year?

The debate rages on as to where we are at with our local Real Estate Market.  The statistics show that sales activity has certainly picked up and time on the market for homes being sold has shortened.  You would think that this indicates that the market has bottomed out and that we are heading back up the hill.  But, wait a minute!  Mortgage rates have bounced up slightly and indications are that they may tick up even more. Just a slight upswing in rates can negate money saved by home prices being down. 

In all honetly nobody knows if we have hit bottom or if we have just watched a small surge while the overall trend continues to decline.  My honest opinion is that with an unemployment rate of 13.6% in Lane County we have some more lean times ahead of us.  This does not mean there are not opportunities out there though.,  We are finding tremendous home values for buyers we are working with every day.  For home sellers a lower inventory right now and shorter time on the market indicate a good time to place your home on the market.  It might be best if you are a home buyer or home seller not to wait and see what this market is going to do.  The opportunity right now might be the best for both buyers and sellers that we will see for a while.

Have An Awesome Week!

THIS WEEKS HOT MOME LISTING

Image Unavailable

3330 BENTLEY AVE, Eugene, Oregon

Price: $325,900.00

Beds: 3

Baths: 2

Sq Ft: 2040

Description: Don't miss the beautiful view from this beautiful home that features high ceilings, a spacious living room with fireplace, a formal dining room, a great kitchen with stainless steel appliances, p ....

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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April 2009 Sales Home sale stats for Lane County

Friday, September 25, 2009
by Galand Haas

Good Monday Morning!

Wow!  What a gorgeous weekend. It just does not get any better than that.

 The April statistics are in for the the Real Estate market in the Eugene and Springfield area.  There are some mixed signals out there right now and I guess this should be expected.  The number of pending sales for April jumped 8.2% from April of last year.  This is a very good sign that we are seeing more active home buyer activity.  At the same time, closed sales dropped 21.9% from April of last year.  Of course this is reflective of pending sales from 30-60 days prior.  This scenario indicates that there is a sharp increase in overall sales from last year and it could indicate a trend of much better activity and possibly the fact that this market has bottomed out and is now getting better.  The next 60 days will be the big test here.  Other statistics show that new listings fell by 18.2%, which could indicate a lower inventory of homes for buyers to choose from.  Pending sales jumped by 21.6% in April over March of 2009. We now have 10.5 months of active inventory of homes, which is significantly less than the peak at 20.6 months in January of this year.  The median sales price fell again as it dropped to $215,000 from $231,700 in April of 2008. 

Look for this local market to remain steady and improved as long as the mortgage interest rates remain at or below the current level. In fact if the inventory of homes continues to decrease and the number of sales continues to increase look for prices to begin to start back up again. If you are thinking of purchasing a home, don't wait!!!!!!!

THIS WEEKS HOT HOME LISTING!

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3350 Videra Dr, Eugene, Oregon

Price: $244,000.00

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 ....

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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March 2009-Lane County Real Estate

Friday, September 25, 2009
by Galand Haas

Lane County Real Estate

RMLS March 2009 Reporting Period MARCH HIGHLIGHTS Sales activity in the Greater Lane County area continued to grow compared to the month prior, but fell short of matching totals from March 2008. Comparing March 2009 with March 2008, closed sales dropped 19.9% and pending sales fell 11.6%. New listings also decreased 22.1%.

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Galand Haas Team, Keller Williams Realty Eugene and Springfield
2644 Suzanne Way, Eugene OR 97408
Direct: (541) 349-2620

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More affordable homes in this market!

Friday, September 25, 2009
by Galand Haas

 

Good Monday Morning!

One of the things that I see happening in this current Real Estate market is the fact that many people who previously could not afford to purchase a home are now finding themselves able to buy a home.  This has been set up by the fact that home prices have declined significantly over the past two years and mortgage interest rates remain at a historic low level.  This combination of events has made home ownership a reality for many who just simply could not quailfy for home purchase just a short time back.  With a local Real Estate market that very well may be hitting bottom, the chance for many buyers to take advantage of this situation could be short lived.  Once home prices begin to climb out of the hole, homes will certainly become less affordable for buyers who are on the edge with their financing.  The other wild card of course is the mortgage rate uncertainty.  An increase in home prices along with any kind of escalation in mortgage rates could spell disaster for many of these buyers.

My suggestion at this time is very simple.  If you would like to purchase a home, don't delay.  Visit a reputable lender and find out what you might qualify for in this market.  You might be pleasantly surprised.  If you need the contact information for a good lender, please contact me.  I have several very good local lenders that I would suggest.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

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5075 G ST, Springfield, Oregon

Price: $130,000.00

Beds: 3

Baths: 1

Sq Ft: 968

Description: Very charming home with well-landscaped front & back yard. Completely remodeled inside with fresh paint, new carpet and flooring throughout. Fantastic garage with work area. Well-fenced & spac ....

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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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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