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Home Sellers: Pricing Is Everything

Monday, October 28, 2013
by Galand Haas

Good Monday Morning!

Are you thinking about selling your home or do you currently have a home on the market?  Either way, selling a home can be a challenge if you are not priced with the current market.  History has certainly shown us that homes that are over priced rarely sell.  These are the homes that you watch in your neighborhood that have that for sale sign up forever.  Typically, this is also the property that burns through several different agents.  Not only is the sign up for a long time, but it changes frequently with different companies and agents.  We have all seen this.  If you are selling your home, or thinking of selling your home, this is not the house you want to be. Nine times out of ten there is one reason for a home like this to not sell.  It's the fact that the price is too high!  By pricing above the market sellers not only miss the market, but they turn off potential buyers and the longer the home sits without selling the harder it becomes for that home to sell.  The home becomes "shop warn" and buyers immediately think that there is something wrong with the home.  Over pricing costs home sellers more money than any other mistake.

When you place a home on the market it is essential that you get a solid market evaluation from a top Real Estate agent who know your market area well.  This will get you started on the right track.  When your home hits the market you will also need to listen to the market.  Your agent will need to have a follow up system that tracks all showings and obtains feedback.  This way, in the event that your home is not receiving strong interest or offers you will begin to have a track record of why buyers are not interested.  Again, nine times out of ten the reason is price.  The feedback will then show you where buyers are perceiving your home value to be and in the case where you are priced slightly above the market you will now know at what value the market is going to accept your home.

"Why don't they just make offers"?  I have heard this from sellers during the 25 years I have been in the Real Estate business.  Here is the reason that buyers don't make offers on over priced listings.  Buyers are comparison shoppers and if they are finding other homes on the market that are maybe newer, larger, better location, better amenities, more updated and priced lower than yours then your over priced home is helping buyers make the decison to purchase competing homes.  Why would a potential home buyer make an offer on your home if it was the least desireable of the homes the buyer is looking at.  Pricing is everything when it comes to sellig your home!

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING! 

 
Image Unavailable
2750 Grand Cayman Dr
Price: $440,000 Beds: 3 Baths: 2 ½ Baths: 1 Sq Ft: 3068
Gorgeous Home with Lots of Options! High ceilings, recessed lighting, lots of storage throughout, bonus room, office, library, formal dining room, plus well-sized laundry/mud room. Great room with living room, fireplace, built-ins, kitchen with larg...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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The Numbers are in: September 2013

Monday, October 21, 2013
by Galand Haas

Good Monday Morning!

September brought seasonal cooling to real estate activity in Lane County, but all measures were up over the comparable month in 2012. Pending sales, at 311, decreased 15.7% compared to August, but are 20.5% higher than September 2012. It was also the strongest September for pending sales since 2009, when there were 357. Closed sales (354) bested last September (303) by 16.8% but cooled from the 408 posted the previous month. Similarly, the 391 new listings decreased 33.8% from August’s 591, but showed a 15.0% increase over the 340 new listings from September 2012.

Inventory increased slightly in September to 4.7 months. We still reamin in a sellers market.

Year-to-Date Summary

The 4,721 new listings represent a 16.0% increase over the 4,069 entered

in the first nine months of 2012. There have been 3,121 pending and 2,951 closed sales through September 2013, up 17.4% and 19.1%, respectively, from 2,658 pendings and 2,477 closed sales by September 2012.

Average and Median Sale Prices

The average price through September is $228,000, up 13.7% from this time in 2012, when the average was $200,600. In the same comparison, the median price increased 15.0% from $176,500 last year to $203,000 this year. 

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
4056 Camellia St
Price: $204,000 Beds: 4 Baths: 3 Sq Ft: 1560
Unexpected and Delightful Attributes! Features oak, birch and bamboo wood floors, tile floors in kitchen, bonus room, workbench in garage, tool shed plus an outbuilding. Living room with fireplace & window seat, opens to dining area w/ access to bac...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Home Sellers: Important Decisions To Consider Before Listing Your House For Sale

Monday, October 14, 2013
by Galand Haas

Good Monday Morning!

If you're thinking about selling your home soon, one of the most important decisions that you'll need to make is your asking price when you list. There are a few factors that come into play when making this decision and your real estate agent is your best resource for navigating that unfamiliar terrain.

Your agent should be able to provide you with comparable recent sales in your area, more commonly referred to as "comps". These comparative properties should be similar to your home in size, condition, updates, and amenities. Your agent will know which features make your home stand out from the crowd and will be able to take these into consideration when sizing up your home against other properties in the area.

Another factor to consider is the current state of the real estate market where you live. Market conditions take into account how much inventory is on the market, current interest rates, and the economy in general. If it's a seller's market in your area due to low inventory, you might be able to ask for a little more than if there is a glut of homes on the market. Buyers can't afford to make lowball offers when there is a chance they'll be rejected out of hand and another property might be hard to come by.

If you would like to obtain a look at your Eugene and Springfield areas current home value it is as easy as going to www.forhomesellers-nonSmartZip.com.  Just enter in your homes address and you will instantly see a current look at your homes value.

Have An Awesome Weeks!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
5623 Austin Way
Price: $235,000 Beds: 4 Baths: 2 ½ Baths: 1 Sq Ft: 2190
Beautiful Like-New Home! Wonderful home features tile entry, great room, lots of storage, and spacious bedrooms. Kitchen with pantry opens up to dining area with slider and family room. Living room with storage under stairs. Master suite with double...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Mortgage Rates: Last Chance for these Super Low Mortgage Rates?

Monday, October 7, 2013
by Galand Haas
VideoVideo

Good Monday Morning!

With mortgage interest rates declining again, the interest of first time home buyers is picking up. Could this be the last chance for these super low mortgage rates?  It's hard to say, but we all know that at some point, rates will take a permanent jump and we may never see them at the levels we have experienced over the last year again in our lifetime.  

If you are a first time home buyer the opportunity to purchase a home may never be more attractive.  The current low mortgage rates coupled with attractive home prices provides a great opportunity.  Now, it even gets better because there are some new conventional loan programs that compete with FHA and other governement sponsored loan programs.  The good news here is that with conventional financing you don't have to pay mortgage insurance for the duration of the loan.  This may save you thousands of dollars.

If you are thinking about the purchase of your first home, get in touch.  We would love to meet with you and go over the home purchase process, give you some information on loan programs and see how much home you might be able to purchase in this market.  Like many others we have worked with, you might be pleasantly surprised.

Have An Awesome Week!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-in-Real-Estate-US-October-2013
Image Unavailable
2647 Moon Mountain Dr
Price: $335,000 Beds: 3 Baths: 2 Partial Baths: 1 Sq Ft: 2061
Lovely Home in Fantastic Location! Only 8 minutes from downtown with country-like setting! Located 5 mins from U of O, less than 10 mins from LCC, and neighborhood park one block away! Hardwood floors, ash cabinets, vinyl windows, classic front porc...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Home Sellers: Tax Benefit of Selling Your Home

Monday, September 30, 2013
by Galand Haas
 

I am asked regularly about the tax consequences involved in selling a home.  The following will give you some information on this subject

Your home may not always be your "castle", but if it is your principal residence, there is one very significant tax benefit when you decide to sell.

The Taxpayer Relief Act of 1997, signed by President Clinton on August 5, 1997, terminated both the roll-over and the once-in-a-lifetime exemption, which were the existing tax benefits at that time. In its place, the law substituted a more beneficial approach for American homeowners.

When you sell your home, married couples can exclude from their taxable income up to $500,000 of gain. Individuals filing separate returns can exclude up to $250,000. Unlike a deduction, which allows you to take a percentage off your gross income (based on the tax rate bracket in which you fall) the exclusion means that the profit you make up to the statutory ceiling is not even included in your income for tax purposes.

There are two important conditions:

  • You must have owned and used the home as your principal residence for two out of five years before the sale. If you are married, although both husband and wife must meet the "use" test, only one of you must meet the "occupancy" test. Marital status is determined on the date the house is sold. In the event of a divorce where one spouse is given ownership pursuant to a divorce decree or separation agreement, the use requirements will include any time that the former spouse actually owned the property before the transfer to the other spouse.
  • The exclusion is generally applicable once every two years. However, if you are unable to meet the two year ownership and use requirements because of a change in employment, health reasons or unforseen circumstances, then your exclusion may be prorated.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING! 

Image Unavailable
89025 Sky High Dr
Price: $895,000 Beds: 2 Baths: 3 Sq Ft: 2850
Beautiful Sanctuary with Pristine Views! In a gated community offering privacy and seclusion, this 30 acre property is one of a kind! Open floor plan, walls of windows, granite counters, tile floors, high ceilings, gourmet kitchen, office and bonus/...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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The Numbers are in: August 2013

Monday, September 23, 2013
by Galand Haas

Good Monday Morning!

The numbers are in for August home sales in the Eugene and Springfield area.

Real estate in Lane County posted healthy numbers in August. Closed sales remained strong at 408, an increase of 13.3% over the 360 in July and 14.9% over the 355 from August 2012. It was the best August for closed sales since 2007, when there were 446. New listings (591) were nearly equal with the 592 in July and showed an increase of 32.5% over last August. Pending sales (369) dropped 18.0% this month compared to July’s 450, but bested August 2012 by one sale, or 0.3%.

Average total market time increased this month to 83 days, and inventory decreased slightly to 4.3 months.

Year-to-Date Summary

The 4,322 new listings represent a 16.5% increase over the 3,711 entered in the first eight months of 2012.

There have been 2,827 pending and 2,579 closed sales through August 2013, up 17.5% and 19.5%, respec- tively, from 2,406 pendings and 2,159 closed sales by August 2012.

Average and Median Sale Prices

The average price through August is $227,300, up 14.3% from this time in 2012, when the average was $198,800. In the same comparison, the median price increased 15.4% from $175,000 last year to $202,000 this year. 

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
2750 Grand Cayman Dr
Price: $440,000 Beds: 3 Baths: 2 ½ Baths: 1 Sq Ft: 3068
Gorgeous Home with Lots of Options! High ceilings, recessed lighting, lots of storage throughout, bonus room, office, library, formal dining room, plus well-sized laundry/mud room. Great room with living room, fireplace, built-ins, kitchen with larg...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Home Seller: Creative Staging

Monday, September 16, 2013
by Galand Haas

Creative Staging

The current Real Estate market in the Eugene and Springfield area is becoming more competitive again.  The surge of sales we saw in the Summer has given away to a slower market with more homes inventory and longer times on the market.  Gaining a competitive edge over competing homes is important and the way your home presents itself to would be home buyers is important.  Having your home look identical to a model home that a realtor is selling can be nearly impossible.  However, if you are willing to spend a little extra money to improve the look of your home, it can garner a lot of positive attention.  This will help you to sell your home even faster than normal.

If you rent furniture that is a dramatic improvement over the furniture you currently have in the home, it will give it a more decorative and positive feel.  People pay attention to details like that, and will appreciate the effort of upkeep the home has had.  Not many people consider renting furniture just for the aesthetics, but it can go a long way in helping the sale. 

Staging may be very important for you to be able to obtain a top value sale in this market.  There are some great home stagers in the Eugene and Springfield market area.  Contact me if you are interested in looking into staging your home prior to selling.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
88604 Ermi Bee Rd
Price: $533,000 Beds: 4 Baths: 3 Sq Ft: 3376
Wonderful Wooded Retreat! Surrounded by nature, this secluded 5 acre property offers lots of space and options! Granite, tile, skylights, vaulted ceiling, 4 decks, 3 sliders, beautifully landscaped grounds with water feature and pond, walking trails...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Home Seller: What to do to sell at Top Market Value

Monday, September 9, 2013
by Galand Haas
VideoVideo

Good Monday Morning!

The one thing that remains constant about the Real Estate Market both nationally and locally is that it never stays the same for long.  Following the hot sales months of early Summer, the Real Estate market in the Eugene and Springfield area has cooled off some.  Now it is time for home sellers to pull out all of the tricks if they want to sell their home at top market value.  Of course the number one tactic is to price your home with the market.  Number two on the list is to get your home in show condition both on the inside and outside.  Greening up the lawn, fresh bark dust on the beds, trimming shrubs and trees and even painting the house can make your home more appealing and make potential buyers want to look inside.  

On the homes interior fresh paint, touch up nicks and fill holes in the walls along with going through and removing clutter and non needed items is important.  Cleaning the home thoroughly, including windows is extremely important.  If your home is dated, then replacing dated wallpaper, colors, counter tops and even appliances can add value to your home and help you get top value.

I think that it also important to have your Real Estate agent visit your home before you place it on the market to give you a check list of things that you should do.  Your agent can then visit your home as you accomplish these items on your list to give you direction as you get your home ready for sale.

THIS WEEKS HOT HOME LISTING!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-in-Real-Estate-US-September-2013
Image Unavailable
1280 Rose St
Price: $274,800 Beds: 5 Baths: 3 Sq Ft: 2374
Beautifully Remodeled and Updated! Kitchen fully remodeled with 20ft of granite counter space, master bath completely remodeled, high-end laminate flooring in every room. Mini-master suite with family room accessibility. Living room with vaulted cei...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Did You Know: Appraisals

Monday, September 2, 2013
by Galand Haas

Good Monday Morning!

Happy Labor Day!

A fact that is part of an improving Real Estate Market is that appraisals usually lag behind home value increases.  This can take place because appraisals use home sale data from homes that sold and sometimes are not reflective as values increase rapidly.  The result of this can be a home sale at top value that does not meet the appraisers opinion of value as supported by comparable home sales in the area. In this way appraisals control the speed at which a Real Estate market can increase and is really a healthy check on keeping Real Estate markets from jumping too quickly and creating an affordability crisis.  Even though home sellers can sometimes be upset with a low appraisal the appraiser is one of the most important components of keeping Real Estate markets healthy over the long term.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
2647 Moon Mountain Dr
Price: $345,000 Beds: 3 Baths: 2 ½ Baths: 1 Sq Ft: 2061
Lovely Home in Fantastic Location! Only 8 minutes from downtown with country-like setting! Located 5 mins from U of O, less than 10 mins from LCC, and neighborhood park one block away! Hardwood floors, ash cabinets, vinyl windows, classic front porc...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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The Numbers are in: July 2013

Monday, August 19, 2013
by Galand Haas

Good Monday Morning,

Here are the statistics for the Eugene and Springfield Real Estate market for the month of July 2013.

Real estate activity cooled slightly this month compared to June, but was up across all categories compared to July 2012. Pending sales (450) increased 27.5% over the 353 in June, and 23.3% over the 365 from July 2012.

New listings (592) dropped 1.7% from the 602 listings posted in June, but represent a 14.5% increase compared to last July. Similarly, closed sales dropped to 360 in July, a 4.0% drop over the 375 in June but a 14.6% increase over last July’s 314 sales.

Average total market time decreased this month to 76 days, and inventory increased slightly to 4.7 months.

Year-to-Date Summary

The 3,725 new listings represent a 14.5% increase over the 3,252 entered in the first seven months of 2012. There have been 2,485 pending and 2,150 closed sales through July 2013, up 19.8% and 20.1%, respectively, from 2,074 pendings and 1,790 closed sales by July 2012.

Average and Median Sale Prices

The average price through July is $226,800, up 15.2% from this time in 2012, when the average was $196,800. In the same comparison, the median price increased 15.7% from $172,800 last year to $199,900 this year. 

THIS WEEKS HOT HOME LISTING!

Image Unavailable
89025 Sky High Dr
Price: $895,000 Beds: 2 Baths: 3 Sq Ft: 2850
Beautiful Sanctuary with Pristine Views! In a gated community offering privacy and seclusion, this 30 acre property is one of a kind! Open floor plan, walls of windows, granite counters, tile floors, high ceilings, gourmet kitchen, office and bonus/...



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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