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Local Market Activity for June 2016

by Galand Haas

Good Morning!

Here are the statistics for the June Real Estate market in the Eugene and Springfield area.  As you can see the month of June shows that our local market continues to be extremely strong and that the inventory of homes for sale continues to decline.  In fact 1.8 months of inventory is the lowest that I can remember seeing in this market.  Of concern is the fact that home prices continue to rise at a rapid pace.  In fact, home values now show that they are at or slightly above pre-recession numbers. This is a concern, because at some point, we will begin to see price resistance from buyers.  The fact that the local economy is not keeping up with home price increases means that many buyers are now going to be taken out of the market because they can no longer afford to buy at the new higher prices.  When we hit this point, it will put pressure on pricing and the market will begin to trend downwards.  Any spikes in mortgage interest rates at this time could be very negative to a healthy Real Estate market here.  

If you are consideriing the sale of a home, this may be your last opportunity to take advantage of this strong sellers market.

June Residential Highlights

Real estate activity in Lane County was mixed this June. Closed sales (524) rose 18.8% compared to May 2016 (441), but fell 2.2% short of the 536 closings recorded last year in June 2015. New listings (671) rose 2.1% over May 2016 (657) but fell 1.3% short of the 680 new listings offered last year in June 2015.

Pending sales (555) ended 0.4% short of June 2015 (557) and were 2.1% short of the 567 offers accepted last month in May 2016.

Inventory decreased to 1.8 months in June, with total market time decreasing to 49 days. Lane County ended June with a total of 959 active residential listings.

Year to Date Summary

Comparing the first half of 2016 to the same period of 2015, closed sales (2,379) have increased 9.9% and pending sales (2,852) have increased 5.8%. New listings (3,402) have decreased 5.3%.

Average and Median Sale Prices

Comparing 2016 to 2015 through June of each year, the average sale price rose 7.4% from $241,300 to $259,100. In the same comparison, the median sale price rose 6.2% from $219,000 to $232,500.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

1760 Sweetbriar Ln

Price: $385,000    Beds: 4    Baths: 2    Sq Ft: 1969

Beautiful contemporary craftsman! Features fully remodeled kitchen with long granite counters & island, steel appliances, 5 burner gas Wolf range, cherry wood cabinets. Vaulted ceiling with skylight, hardwood floor and open multi-level floor plan. K...View Home for Sale >>


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This Month in Eugene-Springfield Real Estate March 2016

by Galand Haas

Good Monday Morning!

Nationally, the Real Estate market has cooled off a bit.  Even though mortgage rates have continued to decline and and for the most part remain sub 4%, fewer homes were sold in February and home prices tapered off a bit.  Here in the Eugene and Springfield area, the housing market remains robust, but inventories in the price ranges below $300,000 are still in short supply.  As we approach Spring and Summer it will be interesting to see if both the national and local housing markets take off like they did last year. My prediction for the remainder of 2016 is a fairly flat market with little change.  Time will tell this story.

Have An Awesome Week!

Video Link Here

 

THIS MONTHS HOT HOME LISTING!


83821 N Enterprise Rd

Price: $399,000    Beds: 3    Baths: 2    Sq Ft: 2332

Beautiful country living! Gorgeous 18.62 acres primarily fenced pasture land. Mountain views, large metal barn, detached garage, roof certification in place. Home is somewhat of a cosmetic fixer. Located within 3 miles of stores and school....
View Home for Sale >>


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This Month in Eugene-Springfield Real Estate February 2016

by Galand Haas

Good Monday Morning!

The Real Estate market in the Eugene and Springfield area has started off 2016 by being a strong sellers market.  There is significant demand for homes, but home inventories remain at extremely low levels.  Less than 3 months of active home inventory in our market area means that if no new homes were to go on the market, the existing inventory of homes for sale would be exhausted in less than 3 months.  For anyone wanting to sell their home, this is as good as it gets.  The competition level is very low and the demand is high.  As long as we continue to have extremely low mortgage interest rates, this market will most likley continue.

As I have stated in previous reports, if you are considering the sale of your home soon or in the near future, now is the time to act.  Don't wait for Spring, act now! If you would like to explore what your home is currently worth in todays market, contact me and I can furnish you with a FREE market analysis.  Or if you are are wanting a quick and easy look at your homes value, you can also visit the website www.forhomesellers.com.  This site wil give you a fairly accurate look at your homes current value and is much more accurate and reliable than a Zillow report.

Have An Awesome Week!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-in-Real-Estate-February-2016

 

THIS WEEKS HOT HOME LISTING!


2685 Valley Forge Dr

Price: $509,900    Beds: 3    Baths: 2    Partial Baths: 1    Sq Ft: 2302

Anslow & DeGeneault 2015 Tour of Homes model home. Gas forced air 92% efficiency, exquisite single level, located in beautiful Hawthorne Estates. Easily entertain in Great Rm overlooking backyard. Escape to luxurious owner's ste w/ tray ceilin...
View this property >>


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Myth Busting: Is Winter Really the Worst Time to Sell?

by Galand Haas

Some of us have heard that the worst time to sell a home is during winter months, but is it true? Do homes sell in winter? Is it a good idea to list in winter? No, winter is not the worst time to sell your home. The myth is just that: a myth.  In fact, listing your home in winter is a great idea. The following is an article from Inman News that provides data to disprove the myth. 

Conventional wisdom has it that winter is the worst time to sell a home.

But a recent study from Redfin casts doubt on that belief, finding that listings seem to fare better on the market from January to March than they do during the summer or fall — though spring still seems to take the cake as best the season to put your home up for sale.

From 2010 to 2013, the average share of homes that sold above list price during January, February and March ranged from 11 to 13 percent.

That range ticked up to between 12 and 14 percent during April, May and June, and then slumped for the summer and fall.

From July to November, the share of homes that sold above list price stayed steady at 11 percent before increasing to 12 percent in December.

According to the study, homes also tended to sell at the slowest rate during the summer and fall, with September (83) and October (83) registering the highest average number of days on the market between 2010 and 2013.

While the data suggested homes were most likely to sell the fastest and at the highest price during the spring, winter turned out to be the season where a homeowner has the best shot at selling within 90 days.

January (62 percent), February (64 percent) and March (62 percent) led the pack as the best months for selling a home in 90 days or sooner, while October (58 percent) and November (58 percent) came in  last.

Data provided by Redfin

Article originally posted on Inman News

Good Monday Morning!

Here are the residential home sales numbers for October of 2014.  October was one of the best sales months in the Eugene and Springfield area in years.  Note that the inventory of homes currently on the market for sale has declined to 3.8 months of active inventory.  This is also the lowest inventory of homes actively for sale that we have seen in many years.

If you are considering the sale of your home, I have one word of advice and that is to get your home on the market," NOW"!  Take advantage of the low inventory and lack of competition.  It won't last!

October Residential Highlights

October brought an uptick in closed sales to Lane County! The 404 closings represented 15.8% increase over September’s 349 and a 33.3% increase over last October’s 303. It was the best October for closings in Lane County since 2005, when there were 455. Pending sales (370) were also strong this month, a 5.4% increase from September’s 351 and 25.4% increase from last October’s accepted offers. New listings, at 394, cooled 9.6% from September’s 436 but fared 6.5% better than the 370 new listings posted last October.

Inventory contracted to 3.8 months in October, and total market time decreased to 88 days.

Year to Date Summary

Lane County has nearly caught up to its 2013 activity. In the first ten months of the year, new listings

(5,308) and pending sales (3,504) have increased 4.0% and 3.6% over the same period in 2013. Closed sales (3,259) have decreased 0.2% from the same time last year.

Average and Median Sale Prices

The average price during the first ten months of 2014 was $236,000, up 4.0% from the same period of 2013, when the average was $227,000. In the same comparison, the median has risen 4.5% from $202,000 to $211,000. 

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
393 Lenore LOOP
Price: $249,000 Beds: 3 Baths: 2 Sq Ft: 1649
Pristine & brand new! This beautiful home offers spacious entry, laminate wood floors, granite counters, vaulted ceiling, gas fireplace & Great Room. Dining area with slider, kitchen with stainless steel appliances, island, eating bar & recessed lig...



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Winter Home Care Tips!

by Galand Haas

Now that we are well into Fall and the weather has certainly changed, it is that time of year to make sure that your home is prepared for the weather ahead.  Here is an informative article from Realty Times that gives you some great inofrmation on winterizing your home.

April may bring showers, but winter weather can bring all sorts of other unexpected and expensive damages to your home. Fall's cool temperatures are a reminder that winter days are on their way - take stock of what you may need to do to prepare your home beforehand, and you'll be ready for the onslaught of ice and snow. Here are several simple, cost-effective tasks you can do now to make the transition into the colder months easier.

1. Clean Out Your Gutter

Once the leaves are off the trees it's time to clean out your gutters. Poorly maintained gutters can damage the roof of your home as well the exterior. When snow and ice mix with clogged gutters, it's a recipe for disaster, inside and out. Leaves and debris will prevent moisture from running off the roof, resulting in ice dams and water leaks. Before flurries form make sure to clear out any waste that's accumulated, and also be sure to note any missing or broken pieces and have them repaired. Remove potentially hazardous branches, or structurally unsound trees that could pose problems under the weight of snow or in the midst of a dangerous windstorm.

2. Have Your Heating System Checked

You don't want to be the person waiting in the frigid cold for a repairman to come when your heater stops in the dead of winter. Instead, have an inspector come in and make sure that the system is well ventilated and running smoothly before the first cold snap hits. Inspections generally run between $70-$100. If you live in an area where winter storms consistently knock out both electricity and heat, consider investing in a small generatorLearn more about what you can do to ensure that your system is operating properly, and give yourself time to make any needed repairs before winter comes and the heating companies are overbooked.

3. Have a Snow Preparedness Kit

It's happened to all of us. Waking up to discover a solid two feet of fluffy white snow layering the ground, only to realize that we've just got one old, dull shovel to dig ourselves free. Before stores are bought out of the necessities, make sure you have everything you need in case of a blizzard:  a shovel, flashlights with extra batteries, one or two bags of road salt to coat the driveway, sidewalk, and walkways, and an ice scraper or two. Keep an emergency kit in a designated spot, and when you awake and find yourself trapped in a winter wonderland, you won't be stuck trying to come up with new and inventive ways of unearthing your car tires.

4. Reverse Your Ceiling Fans

Ceiling fans aren't only useful in the summer months. If your fan has a reverse switch, you can keep your home extra warm in the winter by reversing the cycle of the blades. Having the blades rotate in the opposite direction will create an updraft. Since heat rises, this pushes the hot air down and re-distributes it throughout your house. It's especially useful for homes that have high ceilings.

5. Caulk Doors and Windows

In the depths of winter the average home can lose nearly one third of its heat through drafty windows and doors. If the gap between your windows and doors is greater than the width of a nickel, it's time to reapply some exterior caulk to prevent this heat from escaping. Silicone caulk is highly recommended due to its non-shrinking quality and impermeability to the harsh elements. Block drafts from coming under doors with "draft dodger" door stoppers. You can easily make your own at home. Taking these extra steps will ensure that when the temperature drops, the cold and unforgiving air will stay outside where it belongs, and save you any money you'd be spending on additional heating.

Have An Wesome Week!

THIS WEEKS HOT HOME LISTING!

 

 

Image Unavailable
393 Lenore LOOP
Price: $249,000 Beds: 3 Baths: 2 Sq Ft: 1649
Pristine & brand new! This beautiful home offers spacious entry, laminate wood floors, granite counters, vaulted ceiling, gas fireplace & Great Room. Dining area with slider, kitchen with stainless steel appliances, island, eating bar & recessed lig...



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8 Reasons to Divorce Your Home

by Galand Haas

It can be bittersweet to begin the selling process. Your home is where your life happens, where you have made memories over the years with family and friends. Perhaps now though, you are feeling as if your home has lost its spark. Maybe it's time to say goodbye. 

How do you know when it's really over? 

1. It doesn't help with the housework.

How are you supposed to keep the yard looking nice when the massive shade trees are starving the lawn? Or the two-story stone fireplace that used to be white is now more of a yellowy-beige?

Your house should be helping you out instead of making it more difficult.

2. It's in need of a makeover.

Broken down, randomly working dishwasher. Sticking doors. Warping floors. Sometimes it seems like the walls are actually rejecting paint. Is that even possible?

3. No matter how much you do for it, it's never enough.

As soon as you fix one thing, another one breaks. It's like it's trying to tell you something (It is; it's telling you to move!).

4. It doesn't make you feel sexy.

The shower water smells like dirt and it gets so humid in the bathroom it takes 30 minutes to clear the mirror. Even if you were feeling flirty, you couldn't get a good glance at yourself to make sure everything looks like it should.

Plus, you smell like mud, and that's a definite mood-killer.

5. It talks back.

If pipes that are way overdue to be replaced make embarrassing noises any time you flush or wash, you've got a back talker. And that's no good.

6. It's disrespectful.

The light in the living room flickers for no reason, no matter how many new bulbs you give it. Has it occurred to you it's just trying to get a look up your skirt?

7. All it does is sit around.

Those other houses do stuff. They turn on and off lights. They help you set the air conditioning. Considering it takes four hard slaps on the wall and a good stomp on the floor by the air conditioning unit just to make it pop on, this kind of upgrade may be out of the question. Or at least out of your budget.

8. You're drawn to another.

You're not a cheater. But you find yourself, well, looking at others lately. Driving down other streets and maybe lingering a little too long. Thinking about what life would be like if you lived there.

Maybe the grass really is greener.

And maybe your house would appreciate someone who appreciates it. Maybe it's just not that into you.

So cut it loose. Set it free. Set yourself free. Divorce that house. Your castle awaits.

Article originally written on RealtyTimes

The Eugene and Springfield Real Estate Market Remains Very Stable!

by Galand Haas

Good Monday Morning!

The housing market in the Eugene and Springfield area remains very stable at this point.  There are some slight variations from month to month with the number of sales and months of inventory, but overall the market remains steady.  Home prices are also remaining fairly steady with the price of home continuiing on a slow, but steady growth curve.  Here are the numbers for Lane County home sale activity from the month of August 2014.

August brought plenty of accepted offers to Lane County! The 423 pendings showed an increase of 14.6% over the 369 offers accepted last August and a 12.8% increase over last month’s 375. In fact, it was the best August for pending sales in Lane County since 2006, when there were 478.

Closed sales (360) fell 7.7% compared to July and 11.8% compared to last August. Likewise, new listings (575) fell 2.7% compared to the same month last year and 11.0% compared to last month.

Inventory in Lane County rose slightly to 5.0 months in August, and total market time increased to 92 days.

Year to Date Summary

In the first eight months of the year, new listings (4,458) have increased

3.1% over the same period in 2013. However, pending sales (2,819) and closed sales (2,470) have decreased 0.3% and 4.2%, respectively, from the same time last year.

Average and Median Sale Prices

The average price during the first eight months of 2014 was $236,300, up 4.0% from the same period of 2013, when the average was $227,300. In the same comparison, the median has risen 4.7% from $202,000 to $211,500. 

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
2535 PIERCE ST
Price: $359,000 Beds: 3 Baths: 3 ½ Baths: 1 Sq Ft: 2359
Amazing gem in the hills! Beautiful city view from above! Enjoy serenity and privacy while nestled in the trees! Great room layout, recessed lights, skylights, travertine tile floors, vaulted living room ceiling, 2 decks. Granite counters in kitchen...



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Do I Purchase a large Home or a Small Home?

by Galand Haas

Good Monday Morning!

Depending upon your stage in life and your economic position, the size of home you purchase can be a large consideration.  This article from "Realty Times" gives some insight into making the home size decision.

Do I purchase a large home or a smaller home? This can be a tricky question to answer. Partly because our needs change over the years and decades. After kids leave home, maybe smaller is better but prior to that, maybe a bigger home is what you're seeking–room for the kids, dog, and tons of the kids' sleepover friends.

The trends reflect our indecisiveness too. Sometimes McMansions are on the rise and then there's the complete opposite: tiny, tiny homes. In fact, you can watch fascinating shows online about families of four with a couple of dogs moving into these tiny well-designed homes or homes on wheels.

While that small may be far too small, size is a big consideration. It's also something you should think about before you go house-hunting for that perfect home.

Of course,while there are many personal reasons involved in choosing which size home is the best fit, there are also some very important considerations that can help you decide.

Here are few things to help you weigh your options.

The bigger the home, usually the higher the mortgage. You pay for what you get. It's likely the mortgage payments will be more. However, a smaller home with more amenities is sometimes not that far off in price from a larger home that gives you a bit more square footage.

Think about if you are planning to stay in the home a long time. If so, getting a bit more square footage now might be better than having to move again in a short period of time when you may outgrow the home.

Decide how much home you're willing to maintain. For instance, do you want the responsibility of a big back yard or do you want to have something in a planned development, such as a town home, where there is limited yard space to decorate and maintain. That reduced yard size can give you a lot more freedom and leave you with more money in your bank account as opposed to paying for landscaping maintenance.

Do you work from home or might you someday? This is really important these days as more and more people are working from home and setting up desk space on the dining room table is not optimal. If you think you might be working from home someday, look for a home that will have enough space for you to work, even it it's just a screened-off nook somewhere in the house. No doubt, you'll find a good use for the space, whether or not you actually work from home

If you want a bigger home but aren't sure you can afford it, consider your options. Can you get a roommate? Increase your income? Decrease your debt? Or maybe you can wait a little bit longer and save more to get into the home you really want.

The important thing is to think about the size and style of home you want before you start your house-hunting. This will help you target homes that are most suitable for your needs. Be sure to consult with experts to get the best advice and find out how much home you can really afford.

 Have An Awsome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
4091 SCENIC DR
Price: $258,900 Beds: 3 Baths: 2 ½ Baths: 1 Sq Ft: 1836
Delightfully updated home with extras! Shop with workbench, built-ins and sink. Bonus/rec room, 3 sliders, great room layout, RV parking, tons of storage space & utility room. Living room with wood fireplace and extra-wide slider opens to large kitc...



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Important Tips for Your First Home Purchase

by Galand Haas

Good Monday Morning!

A large percentage of home sales today are to first time home buyers.  The current market of low mortgage interest rates has given first time buyers an excellent opportunity to become home buyers.  The following is an article from Realty Times that offers some great tips for anyone considering the opurchase of their first home.

Before you start seriously shopping for a home, there's some groundwork you should do to put yourself in the best position to buy a home.

Start early, a couple of months before you talk to a lender or hire a real estate professional.

Check and repair your credit

 

The Fair Credit Reporting Act requires the three nationwide consumer credit report companies, Equifax, Experian, and TransUnion, to provide you with a free copy of your credit report and FICO scores upon request once a year. You can order the reports by visiting AnnualCreditReport.com, or call 1-877-322-8228.

Each credit report company has its own criteria for scoring your credit report. A lender will usually use the middle FICO score. All three scores need to be as high as possible for you to receive the best interest rates.

If you can, order the reports at least three months before applying for your home loan. If you find a mistake you need to correct, or you want to improve your score by paying down an account, you'll need at least two months before the credit score improves.

You can dispute an inaccurate item on the report by contacting the consumer reporting company and the information provider in writing. Be sure to include copies of your proof.

Don't accidentally raise your scores

Lenders not only look at how much credit you're using, they consider how much credit you have available. However, now is not the time to be opening any new accounts or closing existing accounts.

Don't purchase furniture or a new car or any other big ticket item before buying a home. Lenders are very careful about the amount of debt you have and how much you pay down every month on the debt payments you have.

Get Loan Pre-approval

Don't start house hunting without knowing how much home you can buy. To find out, you have to apply for a loan, which means you're sharing financial information with the lender such as income and work history, student loans, child support or alimony, and credit card balances.

Contact your lender for a preapproval letter. The letter shows that the lender has taken a 1003 loan application, studied your debt ratios to your income, and helped you select a loan program such as fixed rate, ARMs (adjustable rate mortgages), FHA or VA government-backed loans, etc.

Your lender will confirm your down payment source, interest rate, type of loan that's best for your circumstances, and the terms of your loan. The lender will give you a loan commitment based on your qualifications. The home you select must meet appraisal, and the underwriting department must approve the loan.

A preapproval letter will open doors for you, pardon the pun. Sellers will be impressed because you're prepared to buy and that a lender has agreed to process your loan. Your real estate agent will have to know the terms of your loan in order to write your offer.

Find out about federal, state, and local government incentives

Get help with your loan rate, closing costs and/or down payments through federal and state housing authority programs. For example, there are also incentives for workforce personnel – police, fire fighters/emergency services personnel and teachers.

Each community is different, so click on HUD's Housing Authorities to find out what's being offered in your community. Your city may be offering tax incentives to revitalize a designated public improvement area.

Narrow the choices

Think about how you want to live. One story or two? Low-maintenance condo or big yard for the kids? New or older home?

Drive through the neighborhoods you're interested in and look at homes. Visit a few open houses in the neighborhoods you will consider. They will usually be listed in your local newspaper with the hours hosted. Be sure to tell the real estate professional hosting the open house that you are already working with a buyer's agent.

With Google maps, video, virtual tours, multiple photos, school reports, neighborhood reports and more available online or on phone apps, you can get a good idea of what neighborhoods, home styles, and home prices are like where you want to live.

Find an Experienced Real Estate Broker or Agent

Buying a first home is a complex process. An experienced real estate broker or agent will assist you all through the process: the home search, comparable homes sold, making an offer, inspection, repairs, and the appraisal, as well as help you find the best value, neighborhood, and quality home for your budget and requirements.

The seller's real estate broker pays your broker or agent out of your loan proceeds. If you don't use your own agent, the seller's broker keeps the commission, so you might as well avail yourself of professional advice. Your real estate broker or agent works in your best interest.

Don't expect perfection

There's no perfect home. You may want all the latest amenities of a new home, but even new homes come at a price, including longer commutes, higher community fees, and bigger pricetags.

Homes that need updating are priced below homes that are up to the minute and move-in ready. That could be to your financial advantage, so try to look beyond outdated fixtures and focus instead on the floorplan and dimensions. Ignore the seller's tastes and imagine each room clean and clear of clutter and with your own things in them.

Most cosmetic changes are relatively inexpensive, and you can even pay for them with your mortgage loan, in some cases. Talk to your lender.

Think long-term investment

Buying a home can be a wise financial investment, if you buy right and hold your home for long-term gain. Because of closing and moving costs, it's nearly impossible to buy a home and sell it immediately for a large gain, but it is possible to sell after a couple of years with no capital gains tax should you make a profit.

According to the National Association of REALTORS®, home equity growth beats inflation by about one to two percent annually, not to mention government subsidies for home ownership in the form of tax relief and other incentives.

However, if you look at owning a home strictly as an investment, you'll miss many pleasures. Look at your home as a home, rather than part of your portfolio. Buying a home allows you to live in the neighborhood you want for as long as you want, without having to worry that the landlord is going to sell out from under you. Your stake in a home makes you part of the community, committed to making it a better place to live.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

 

Image Unavailable
649 ST ANDREWS LOOP
Price: $539,000 Beds: 5 Baths: 4 ½ Baths: 1 Sq Ft: 5568
Outstanding value at $96 per sq ft - Hardwood flooring, granite counters, travertine tile, hickory cabinets, two walk-in closets, solid core 8ft doors, creek views, next to Emerald Valley Golf Resort. Too many high end amenities to list. Less than 2...



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