Real Estate Information Archive

What will 2012 look like?

Monday, December 26, 2011

by Galand Haas

Good Monday Morning!

The last week of the year 2011 is upon us. Our local housing market in the Eugene and Springfield area saw many changes during this year. We experienced a continuing decline in home values across the market and also watched as mortgage default rates increased significantly as well. Even though it was not a great year for home owners, home buyers were able to take advantage of low home values and historic low mortgage interest rates. For buyers who could qualify for financing there were many very good opportunities.

What will 2012 look like? Although nobody knows for sure, it will most likely not see considerable change from 2011. Home values in the Eugene and Springfield area will most likely continue to decline for most or all of 2012 and foreclosures and short sales will conitinue to be a large percentage of the market. Home sellers will most likely continue to have to be very competitive with pricing and be patient waiting for a buyer. Home buyers will most likely continue to see very low mortgage interest rates through most of the year and will coninue to be able to capitalize on the attractive home prices. By the end of 2012, I hope to see our market hitting it's low point. This would most likely indicate the start of a flat market for the next 3 to 4 years, which would be an improvement from our declining market and indicate the beginning of better times to follow.

We need to remember that many things influence the home market and the economy and that predicting the Real Estate markets future is certainly not an exact science. Even though most of us wish that the housing market would improve over night we have to reember that history shows that this market does not spin on a dime and that change takes time.

As before, I will continue to keep you updated on both the local Eugene and Springfield housing market and the national housing market throughout the coming year.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

46121 Goodpasture Road

Price: $550,000

Beds: 4

Baths: 3

Sq Ft: 3407

Beautiful, secluded, custom home on the banks of the McKenzie River, featuring a 32ft vaulted ceiling, 2 fireplaces, heated floors, skylights & gorgeous deck. Downstairs offers a lg kitchen with hickory cabs, stainless steel appliances, huge living ...

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Housing Statistics for November 2011

Monday, December 19, 2011

by Galand Haas

Good Monday Morning!

The statistics are in for November home sales in the Eugene and Springfield area and it looks as if our local housing market is continuing with it's trend of slower sales and falling home prices. In November of this year closed home sales declined by 7.8% from November of 2010. Pending home sales rose slightly over the same period by 0.6%. Closed home sales fell 10.5% this November from the month before and pending sales were off by 19.4% for that same time period. The number of new listings also was off by 2.1% from October of 2011 to November of this year. There is currently 8.2 months of active inventory on the market, which means we are continuing with a strong buyers market. The average home sales price fell by 5.5% from November of 2010 and is now at $191,700. The average time it took a home to sell in November of 2011 was 143 days.

Mortgage interest rates have remained fairly steady and are remaining at historic low levels. The climate for purchasing Real Estate in the Eugene and Springfield Market area could not be better.

If you would like to receive a weekly e-mail list of all Bank Foreclosure homes listed for sale in the Eugene and Springfield area, log onto the website http://www.eugenebankowned.com and sign in. You will start receiving this informative weekly home list.

Have A Very Merry Chritmas!

THIS WEEKS HOT HOME LISTING!

4450 S. Shasta Loop

Price: $650,000

Beds: 3

Baths: 3

∏ Baths: 1

Sq Ft: 3874

Stunning ICF constructed Tuscan style home! Enjoy media, family room, guest room and spa room! Great separation of space, skylights, fireplace, large kitchen with 2 sinks, pantry, lots of storage, and nook. Two bedrooms with in-room vanities. Master...

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Thinking of Making Home Improvements?

Monday, December 12, 2011

by Galand Haas

Good Monday Morning!

Tired of the cold and fog yet? If you are, just remember that more rain is just around the corner. Hopefully, we will continue to see the sun that we have today for many more day to come.

Since many people are making the choice not to sell their home in this market the thought of making improvements is high on the list of many homeowners. The question is what upgrades are going to add value? In most markets any upgrades that improve the homes effective age are good investments. This means updating carpets, paint, windows, roofing, siding, fixtures, hardware, etc. may all have a long term positve effect on a homes long term value. Also, doing repair work such as taking care of dry rot, replacing outdated electric panels, plumbing, etc. will most likely add value. Modest improvements in landscaping can also add value over time. Generally stay away from adding pools, large decks, spas, sound systems, etc. that may be nice for you the homeowner, but may not actually add value to your home. Putting on large additions or doing extensive remodels may also not increase your homes value enough to compensate for the costs. Be cautious!

As the market cycle changes, home values will begin to increase once again. Investing wisely now may pay you back handsomely in the future.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

7321 B Street

Price: $172,900

Beds: 3

Baths: 2

Sq Ft: 1734

Nice family home with an open spacious living room and kitchen. Park-like backyard with trees and paths. Sunroom for entertaining. RV parking and fenced yard....

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Considering Selling Your Home?

Monday, December 5, 2011

by Galand Haas

Good Monday Morning!

Congratulations to the University of Oregon Ducks football team for winning their third straight Pacific 12 Championship and earning the right to play Wisconsin in the Rose Bowl on January 2, 2012.

If you are considering the sale of your home in the near future, I would suggest that you consider putting your home on the market sooner rather than later. One of the biggest problems home sellers have faced over the past several years in competition in the market. The inventory of homes for sale typically reaches it's lowest points in November, December, January, February and March. Homes on the market during these months will face far less competion. To date, this year has been the same as we are now watching the inventories of good homes on the market hit levels that make it tough for home buyers. Your chances of selling your home and obtaining top dollar are best if you act quickly and get your home on the market before the Spring rush.

Have An Awesome Week!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-in-Real-Estate-US-December-2011

85075 Ridgetop Drive

Price: $375,000

Beds: 4

Baths: 2

Partial Baths: 1

Sq Ft: 2354

Gorgeous getaway minutes from town! 5 acres with amazing mountain views! Very light & bright w/ hardwood flrs & underground sprinklers. Master suite has his-&-her sinks, soaking tub, shower, & slider to balcony! Kitchen with eating bar & pantry, liv...

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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The Housing Market in Eugene and Springfield

Monday, November 28, 2011

by Galand Haas

Good Monday Morning!

There is some good news for our housing market in the Eugene and Springfield area. We had another month of increased home sales. For October of this year closed home sales were up by 14.4% over 2010 and Pending sales were up by 7.3% for the same time period. New listing were down again and were off by 18.1%. A personal observation on listings notes that the majority of the new listings are distressed sales and that those homeowners who do not have to sell are making the choice not to sell in this market. This has actually created a short supply of homes in some areas, especially in the price ranges of $175,000 and below.

Closed home sales fell in October from September by 7.4%, but pending sales were up by 18.3% for the same time period. The number of new listings hitting the market fell by 9.2% for the same time period.

There is currently 7.6 months of active inventory of homes for sale. The average sales price declined again and fell by 2.9% from October of last year and now rests at $203,800. The average time it is now taking for a home to sell is 141 days.

As long as mortgage interest rates remain constant and home inventories continue to decline, this trend should remain fairly constant.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

2594 Pierce Street

Price: $235,000

Beds: 4

Baths: 2

Sq Ft: 2139

Contemporary with great views of nature! Great open floor plan, wood floors throughout most of home, skylights in almost every room, large entry, vaulted ceilings, kitchen with eating bar and area. Master suite with walk-in closet. Plus good size lo...

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Real Estate Eugene Oregon housing market Springfield Oregon

Today's Real Estate Market

Monday, November 14, 2011

by Galand Haas

Good Monday Morning!

Today's Real Estate market certainly offers many challenges to anyone who is trying to sell a home. Not only are prices lower, there are fewer buyers and in most cases the competition is heavy. I have found that in this market a home seller must do everything possible to stack the odds in their favor. Of greatest importance is pricing. Homes that are not priced competitively just don't sell. Second in importance is appearance. Homes that are staged and in good repair have a huge edge over those that are not. Of importance are exterior and interior paint, home furnishings, no clutter and upgrading appliances, carpets and window coverings, etc. The better the home appears and the more updated the home is the easier it will be to sell. In this market this is money in the sellers pocket. My advice to most clients is to consult with a professional stager or home decorator before putting their home on the market. A few dollars spent getting professional help can bring huge rewards down the road. As I tell all sellers, "in todays market you are not only in a price war, but you are also in a beauty contest".

THIS WEEKS HOT HOME LISTING!

4085 Eddystone Place

Price: $305,000

Beds: 4

Baths: 3

Sq Ft: 2518

Stylish and spacious! Vaulted ceilings, skylights, open floor plan, well-sized bedrooms and large windows make it very light and bright inside. Living and family room, fireplace, utility, plus bonus room. Master suite with his and her sinks, shower ...

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Eugene, Oregon Real Estate Market Update

Thursday, November 10, 2011

by Galand Haas

In the interest of providing you with accurate, up-to-date and unbiased information on the real estate market in Eugene, Oregon, here are some vital statistics taken from the real estate aggregating website Trulia:

Average Listing Price (week ending 10.26.2011): $288,777, down 0.3% ($821) compared to the prior week
Median Sales Price: $204,950 down 4.7% ($10,050), based on 388 home sales from July to Sept., 2011
Average Price Per Square Foot: $152, down 3.2% compared to the same period last year
Number of Sales: 388, +3.5%

Definitions

These dollar amounts and percentages might seem self-evident, but just to be clear, here’s a paraphrasing Trulia’s definition of these terms:

Average Listing Price
This is based on daily average prices for the most recent week on new and resale houses listed on Trulia, which says it updates these prices weekly.

Median Sales Price
This is the median residential sales price for the latest 90-day period for which sales are available to the public. It is the price at which 50% of the homes sold for more than the median price and 50% of the homes sold for less than the median price. Median sale price is restructured each week as fresh sales data is released.

Average Price per Square Foot
This is determined using sales from the most recent 90-day period and kept up-to-date weekly from the latest transaction data available via public record sources.

Perspective Is Reality

In order to put the above numbers into the proper perspective, you need to compare them with the numbers for some of the other cities near Eugene. Once again, we turn to the real estate website Trulia for these figures (for more details, click on the city):

Nearby City	Median Sales Price	Average Listing Price
Springfield	$153,800	$246,292
Coburg	$109,250	$183,776
Creswell	$149,900	$246,329
Junction City	$149,450	$262,548
Harrisburg	$124,900	$218,964

What Do All These Stats Mean To Me?

If you are or think you might soon be buying or selling a home in Eugene, use these facts and figures as a base on which to make well-informed decisions about property transactions. Information is power, after all, and empowerment gives you confidence.

And when it comes to the amount of time, money and, let’s face it, emotion involved in home sales transactions, regardless of whether you’re the buyer or the seller, you want all the power and confidence you can get.

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Current Home Trends in Eugene/Springfield

Monday, November 7, 2011

by Galand Haas

Good Monday Morning!

First time home buyers continue to make up the majority of home sales in the Eugene and Springfield area. Affordable homes in the price ranges below $200,000 are continuing to be the most desireable homes on the market. This is also where we are seeing the lowest inventory numbers at this time. Also many homes in this price range are distressed properties, which means they are either bank foreclosures or short sales. Most likely the demand for these homes will continue strong in the future as well and inventiries may also remain low.

Have An Awesome Week!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-in-Real-Estate-US-November-2011

1336 Tamarack St

Price: $165,000

Beds: 4

Baths: 2

Sq Ft: 1471

Wonderfully updated home with huge backyard. On quiet street close to park and schools. Features light and bright living room with brick fireplace, well-sized bedrooms, updated baths, master suite with walk-in closet. 4th bed could be an office. New...

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Real Estate Eugene Oregon Springfield Oregon Home trends

Monday Morning Coffee

Monday, October 17, 2011

by Galand Haas

Good Monday Morning!

It looks like Indian Summer is taking hold this week in the Eugene and Springfield area. This is one of the greatest rewards of living here.

The statistics are in for home sales in the Eugene and Springfield market area for the month of September. Closed sales were up by 9.3% over September of 2010, while pending sales were down by 3.7% for the same time period. New listings declined over September of 2010 by 18.7%. Comparing September of this year to August of this year, closed sales fell 5.5% and pending sales dropped by 30.1%. New listing were also off by 22%. There is currently 7.7 months of home inventory on the market, which is 2.7 months less than September of 2010. The average sales price is $208,300, which is down by over $10,000 from September of 2010. The average time it took a home to sell was 132 days.

As you can see we have had several months of declining home inventory. This means that for anyone trying to sell a home the competition level is declining. My strong suggestion is that if you have a home that you are going to sell, get it on the market now and take advantage of this lower level of competition. Chances are that it will be short lived. Forget about the waiting until Spring notion. Inventories of homes for sale will be higher and prices will be lower.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

7925 South C St.

Price: $275,000

Beds: 3

Baths: 2

∏ Baths: 1

Sq Ft: 1920

Serene country living close-in! Set high upon the hill, this cozy home has wonderful views of the mountains, trees and valley! The living room features a two-sided fireplace and vaulted ceiling with exposed wooden beams, plus large windows for lots ...

View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Low Mortgage Interest Rates

Monday, October 10, 2011

by Galand Haas

Good Monday Morning!

Extremely low mortgage interest rates continue to be the bright spot in the Real Estate industry. This is the perfect time for anyone who would like to invest in Real Estate. With rents at high levels, we have been able to find many residential investors properties that will appreciate well over time and cash flow immediately. If you are thinking of investing in Real Estate, please contact me. I would love to show you some easy ways to get started. You don't need to be an expert investor to jump in!

Have An Awesome Week!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-in-Real-Estate-US-October-2011

4645 Crescent Ridge Lane

Price: $329,000

Beds: 3

Baths: 2

Partial Baths: 1

Sq Ft: 1652

Beautiful quality and style surrounded by tranquility. Enjoy hardwood floors, radiant heat and gas fireplace in great room, cedar doors and windows, granite counters and island in kitchen, plus utility room. Master bedroom has 2 closets plus bath wi...

View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Blog

What will 2012 look like?

Housing Statistics for November 2011

Thinking of Making Home Improvements?

Considering Selling Your Home?

The Housing Market in Eugene and Springfield

Today's Real Estate Market