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Here's Why You Don't Want To Wait

by Galand Haas

Good Monday Morning!

Both the national and local housing markets are very interesting to watch right now.  Mortgage interest rates have just recently taken a large drop and are now hovering at just over 4%.  Mortgage rates are predicted to stay low and we may even see a further decline in rates ahead.  Typically, a decrease in mortage rates is followed by an increase in home sales activity.  This could take place, but nationally we saw a significant decrease in the number of home sales in Febraury. Home sales have been trending downwards and the mortgage interest rate decline could slow or even put a stop to the home sale trend.  Locally, home sales have slowed and the housing market in the Eugene and Springfield area feels to be very fragile. One of the largest concerns for our local market is the continued lack of home supply.  The number of active homes for sale remains extremely low and this situation does not seem to be easing.  The lack of inventory over the past several years has fueled home prices and now home affordability has become a huge factor in our local market.  Could we actually see a market with very low inventory and low demand as well.  This is quite possible and the next several months will certainly tell the story.

My advice to anyone thinking about selling a home in the Eugene and Springfield area in 2019 is to get your home on the market right now.  By waiting until late Spring or even Summer to sell your home, you are gambling with what price your home might sell for.  Right now the inventory of homes for sale in most local areas remains extremely low, especially in the $350,000 range and below.  Buyer demand in most price ranges other than the upper tier ranges remains good.  This however could change as we move through the year.  Right now just may be your best opportunity to sell at higher price

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

2945 Ava Street  

Price: $350,000    Beds: 3    Baths: 2.0    Sq Ft: 1570 

New Construction. this home is sure to impress. Open Living, Dining, & Kitchen. Great for entertaining. Master suite with walk-in closet and master bath. Two additional bedrooms are on opposite side of house. This home includes a Laundry room and a...View this property >> 

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Spring Into Your New Home

by Galand Haas

Good Monday Morning!

If you are considering the purchase of a home soon and you have been waiting for mortgage interest rates to drop, this could be your time to act.  Mortgage interest rates are down across the board and they may stay down for several months.  If you have been waiting for a window to buy, this is it. Lower rates mean lower payments and also can increase purchase power.  With Spring coming and more homes due to hit the market, the next couple of months could be the best time to purchase a home this year.  The following article is from "Realtor.com" and it talks about the current mortgage loan market.

Rates for home loans fell, with no bottom in sight as investors increasingly brace for slowing economic growth.

The 30-year fixed-rate mortgage averaged 4.28% in the March 21 week, mortgage guarantor Freddie Mac said Thursday. That was down 3 basis points during the week and a 13-month low for the popular product, which has managed a weekly gain only twice during 2019.

The 15-year adjustable-rate mortgage averaged 3.71%, down from 3.76%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.84%, unchanged during the week.

Fixed-rate mortgages follow the benchmark U.S. 10-year Treasury note, although they move with a bit of a lag. Investors have been piling into bonds over the past week, betting on a more dovish stance from the Federal Reserve.

That turned out to be the right call. After the release of the central bank’s statements, bond prices jumped, pushing yields down sharply. Freddie’s weekly mortgage survey captures activity through Tuesday, so the big bond market moves of this week will likely be reflected in mortgage rates next week.

This may be the sweet spot for borrowers. Lower rates are obviously a boon for the housing market, which has struggled in the face of a supply crunch, rising prices, and outsize demand. But the economy hasn’t slowed enough that people are losing their jobs. Americas are still showing signs that they want to try to become homeowners. Mortgage applications rose 1.6% over the past week as rates drifted down, the Mortgage Bankers Association said Wednesday.

But few of the other obstacles have been resolved. The average mortgage application size hit a fresh high for the third week in a row as the supply of entry-level homes dwindled, the MBA said. The upcoming spring selling season will be watched very closely for clues about how the market is doing.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

2230 Comstock Ave  

Price: $575,000    Beds: 4    Baths: 4.5    Sq Ft: 2904 

Builder's home with only one owner. Quiet park-like backyard. Master with his/hers sinks, jetted tub, large dual head shower, private camode, walk-in closet, two sided/see-through fireplace. Upstairs hall closet laundry plus a full laundry room area...View this property >> 

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Home Sales Soften

by Galand Haas

Good Monday Morning!

Home sales nationally have softened.  Maybe it is time for the Fed to revisit its policy of interest rate hikes.  The yield curve, which can predict recession has changed negatively and could be pointing towards tougher economic times.  It might be time for the Fed to halt interest rates hikes and abandon its agressive approach.  Could it be time for the Fed to even lower rates again?  Here is an article from Realtor.com that addresses the current national home sales slump.

Sales of previously owned U.S. homes posted their largest annual decline since 2014 in October, as the housing market continues to sputter due to higher mortgage rates that are reducing home affordability.

The latest data offered a mixed picture of a market that isn’t in free fall but also is far from robust. Existing-home sales edged up 1.4% in October from the previous month to a seasonally adjusted annual rate of 5.22 million, the National Association of Realtors said Wednesday. That broke a six-month streak when sales declined compared with a month earlier.

Sales, however, posted a sharp 5.1% drop compared with a year earlier, indicating the market is likely to end the year on a sluggish note.

Lawrence Yun, the trade group’s chief economist, said the annual decline signals softness in the housing sector that is likely to persist in the months to come.

“There is some feeling that the market could actually go even lower than what it is now in terms of sales,” Mr. Yun said.

When sales began slowing this spring, economists initially blamed a shortage of inventory, which has plagued the housing market throughout the recovery. But rising mortgage rates are playing a bigger role in slowing buyer demand than many economists had expected, shaking confidence that now is a good time to buy a home, according to recent surveys.

Mr. Yun said higher interest rates appear to be choking off buyer demand, and said the Federal Reserve should consider pausing its rate increases to give the housing sector time “to be on firmer ground.”

Mike Fratantoni, chief economist at the Mortgage Bankers Association, said recent declines in the stock market are also causing fresh unease. “The level of volatility in the stock market is reflecting a lot of uncertainty about where we are with the broader economy. There is a little bit of increased anxiety about how much things are going to slow,” he said.

The good news for buyers is that conditions are becoming friendlier to them, as mortgage rate and home-price increases slow and inventory of homes for sale is growing compared with last year.

The rate for a 30-year fixed rate mortgage averaged 4.81% this week, down from 4.94% a week earlier, according to data released by Freddie Mac on Wednesday. Rates are still up significantly from a year ago, when they averaged 3.92%.

The median sale price for an existing home in October was $255,400, up 3.8% from a year earlier. That shows a cooling from a year ago, when prices rose about 5.5%.

There was a 4.3-months’ supply of homes on the market at the end of October, based on the current sales pace, down from 4.4 months in September but up from 3.9 months a year ago.

Mr. Fratantoni said the combination of more muted price growth and a greater number of homes for sale could boost the housing market in the spring, especially if wages continue to rise.

Have An Awesome Week!


THIS WEEKS HOT HOME LISTING!

1849 Crescent Ave 

Price: $319,000   Beds: 3   Baths: 2  Sq Ft: 1344

Wonderful updates in this N. Gilham home! Great Rm layout, hickory cabinets, granite counters, engineered wood flr, recessed lights, stone gas fireplace, vinyl windows & French drs w/ built-in blinds. Kitchen w/ under-mount sink, island & eating bar. Master ste w/ slider. Laundry/mud rm. Fenced yard, shed, covered deck & patio, plus RV parking. Located in highly desirable area, on bus route & only 6 min drive to shops, schools & park.

View this property >> 



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This Month In Real Estate October 2018

by Galand Haas

Good Monday Morning,

The national home sales statistics for October 2018 indicate that the national housing market remains flat.  There was little change in home sales numbers and home prices from the month of September.  Mortgage interest rates were up slightly, but still remain favorable.  These numbers indicate that the national housing market remains healthy.  With little change going into the Fall months, this suggest that we should see a very healthy and stable national housing market into the first quarter of 2019.

The housing market in the Eugene and Springfield area remains very robust for the price ranges of $300,00.00 and under, but drops off considerably in the upper end price ranges over $500,000.00 and above.  The housing market for homes that work for first time home buyers remains a strong sellers market, but changes considerably from a sellers market in the upper end market.  This trend should remain unchanged going into 2019.

View video HERE.

Have an awesome week!

THIS WEEK'S HOT HOME LISTING!

 88139 KEOLA LN

Price: $495,000   Beds: 4   Baths: 3   Partial Baths: 1   Sq Ft: 2794

Gorgeous & private rural living! Serene tree views surround 1.37 acre estate. Well-manicured gardens w/ paths, sitting areas & huge patio. Finished 3-car garage & half bath, w/ guest suite above. Features media rm, open layout & private master suite...View this property >>


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Latest Market Activity for December 2017

by Galand Haas

Good Monday Morning,

As you can see from the following statistics, the Real Estate market in the Eugene and Springfield area remains very strong.  The largest obstacle at this time is that there is only 1.7 months of active inventory of homes for sale. This is critically low number and it is creating a shortage of affordable homes for would-be buyers.  For anyone considering the sale of their home, there just could not be a better market.  If you are considering the sale of your home, don't wait, get your home on the market "NOW" and take advantage of this very strong sellers market. Here are December's Lane County home sales numbers.

December Residential Highlights

Lane County saw increases across the board this December compared to 2016 despite some cooling from last month. New listings (223) ended 3.7% ahead of December 2016 (215) but fell 35.4% sort of the 345 new listings o ered last month in November 2017.

Pending sales (309) fared similarly, increasing 24.1% from the accepted o ers recorded in December 2016 (249) but falling 15.6% short of the 366 offers accepted last month in November 2017.

Closed sales (371) ended one ahead of the 370 sales recorded last year in December 2016 (0.3%) but were 5.8% short of the 394 closings recorded last month in November 2017.

Year to Date Summary

Activity ended slightly ahead in 2017 compared to 2016. Comparing the entirety of each year, new listings (6,390) increased 3.5%, closed sales (5,204) increased 0.8%, and pending sales (5,254) increased 0.2%.

Average and Median Sale Prices

Comparing all of 2017 to 2016, the average sale price rose 9.2% from $263,700 to $287,900. In the same comparison, the median sale price rose 9.7% from $237,000 to $260,000.


Have An Awesome Week!


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This Month in Real Estate August 2017

by Galand Haas

Good Morning!

Home prices continue to rise both here in the Eugene and Springfield area and nationally.  In many parts of the country, home sales are begiining to slow.  This could mean that we have reached a point where there is resistance to home pricing.  When this occurs, we will typically see a market slow down that is extended and inventories of homes for sale that begin to build.  All of this happens until there is enough pressure on home pricing that it begins to drop.  Then the cycle starts all over again as home prices become more affordable, demand increases and prices begin to rise again.  This is the cycle of home sales that repeats itself over and over again.  We have had a long run with home values increasing, so the inevitable is most likely on the horizon.

Have An Awesome Week!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-In-Real-Estate-August-2017

THIS WEEKS HOT HOME LISTING!
Image Unavailable
1350 DAVID AVE
Price: $235,000 Beds: 3 Baths: 2 Sq Ft: 1920
Spacious and bright! Triple-wide manufactured home on its own lot. Features an open layout, vaulted/high ceilings & lots of natural light. Large living rm plus family rm. Kitchen w/ island & eating bar. Large open dining area. Master suite with 2 cl...View this property >>

 



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This Month in Real Estate June 2017

by Galand Haas

Good Monday Morning!

The national home market has slowed slightly as home prices continue to rise.  The question both locally and nationally is whether the fast rising home prices have now started to effect sales.  Home affordability has certainly become an issue with double digit home price increases over the past year.  The question at this time is not if the market will slow due to rising prices, but when.  The next few months should be interesting!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-in-Real-Estate-June-2017

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!


Image Unavailable
56324 MCKENZIE HWY
Price: $425,000 Beds: 3 Baths: 2 Sq Ft: 2070
Riverfront Retreat on 2.48 Acres! Enjoy river views spanning south end of property. Unwind in hot tub, walk short trail for easy river access & relax on large deck. Beautiful park-like yard w/ horseshoe pit, sand volleyball ct, garden & mature trees...



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Latest Market Activity for May 2017

by Galand Haas

Good Morning!

May of 2017 showed as a very strong month for the Eugene and Springfield area housing market.  Home sale were up and home price continued to increase.  With home pricing up at near 10% over the last year, home affordability may be a huge factor in the coming months.  Here is the May 2017 home sales report for Lane County.

Lane County had strong activity across the board this May. New listings (752) outpaced May 2016 (657) by 14.5% and April 2017 (577) by 30.3%. The last May that saw new listings as strong was in 2007, when 804 new listings were offered for the month. 

Pending sales (638) bested May 2016 (567) by 12.5% and April 2017 (488) by 30.7%.—the strongest May on the RMLS record, which dates to 2001. 

Closed sales (444) were less strong, but still edged 0.7% over the 441 closings from May 2016 and 23.0% over the 361 closings recorded last month in April 2017. 

Total market time decreased to 51 days in May, with inventory slimming slightly to 1.6 months. 


Year to Date Summary 

Comparing the first five months in 2017 to the same period in 2016, new listings (2,642) have decreased 2.0%, closed sales (1,765) have decreased 3.1%, and pending sales (2,220) have decreased 4.4%. 

Average and Median Sale Prices 

Comparing 2017 to 2016 through May of each year, the average sale price rose 9.7% from $252,800 to $277,300. In the same comparison, the median sale price rose 8.7% from $229,900 to $250,000. 


Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
2698 SUNCREST AVE
Price: $659,000 Beds: 4 Baths: 3 Sq Ft: 4509
Spectacular hilltop haven with valley view! Natural light floods in from custom windows/skylights presenting breath-taking views & sunsets. Cathedral ceiling & gas fireplace in living rm. Family rm with 2 sliding doors leading to large patio. Contem...



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Latest Market Activity for April 2017

by Galand Haas

Good Morning!

April Real Estate activity in the Eugene and Springfield market area was up slightly over March of this year, but running behind April of a year ago.  Low inventories of homes for sale and an average home price increase of nearly 10% over last year are the culprits.  We are in a strange market right now with extremely low inventories of homes for sale and rising home prices.  I don't want to sound the alarm, but this is a dangerous spiral and it could result in a quickly declining market at some time.  When home prices become non-affordable, sales decline and price come down.  What happens in our local market over the next several months should tell us the story about where we are heading.  Here are the numbers from April.

Lane County saw some warmer activity again this April, although numbers are a bit cooler compared to April 2016. New listings, at 577, ended 1.5% below April 2016 (586) but 7.4% ahead of March 2017 (537). 

Pending sales, at 488, decreased 11.8% compared to April 2016 (553) but edged 2.1% ahead of the 478 o ers accepted last month in March 2017. 

Similarly, closed sales (361) had a 10.0% decrease from the 401 closings recorded last year in April 2016 but pulled 1.7% ahead of the 355 closings recorded last month in March 2017. 

Inventory crawled upward in April, ending at 1.8 months. Meanwhile, total market time decreased by 13 days, landing at 56 days.


Average and Median Sale Prices 

Comparing the average price of homes in the twelve months ending April 30th of this year ($270,400) with the average price of homes sold in the twelve months ending April 2016 ($246,700) shows an increase of 9.6%. The same comparison of the median shows an increase of 8.4% over that same period. 


Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
56324 MCKENZIE HWY
Price: $425,000 Beds: 3 Baths: 2 Sq Ft: 2070
Riverfront Retreat on 2.48 Acres! Enjoy river views spanning south end of property. Unwind in hot tub, walk short trail for easy river access & relax on large deck. Beautiful park-like yard w/ horseshoe pit, sand volleyball ct, garden & mature trees...

 


AND HERE'S YOUR MONDAY MORNING COFFEE!!

Latest Market Activity for February 2017

by Galand Haas

Good Morning!

Here are the numbers for the February 2017 Real Estate market in the Eugene and Springfield area.  As you can see, there was little change.  The inventory of homes for sale remains critically low and the result is fewer sales and higher home prices.  The Eugene/Springfield area remains as one of the lowest areas in the country for active homes for sale at just 2.2 months of active inventory available.  All that I can say is the same thing that I have been saying.  If you are thinking about selling your home in the near future, this is the top of the market for home pricing and you should take advantage of it. Here are the numbers for February.

 

February Residential Highlights

Activity in Lane County continued a cooling trend this February, but some numbers showed gains over January. New listings (393) showed a 22.8% gain over January 2017 but ended 5.5% below the 416 new listings offered last year in February 2016.

Similarly, pending sales (369) rose 16.0% above the 318 orders accepted last month in January 2017 but were 12.1% under the 420 orders accepted last year in February 2016.

Closed sales, at 247, ended 13.0% under February 2016 (284) and 9.5% under January 2017 (273).

February saw inventory in Lane County rise just slightly to 2.2 months. Total market time during the same period rose three days to 75 days.

Average and Median Sale Prices

Comparing the average price of homes in the twelve months ending February 28th of this year ($266,000) with the average price of homes sold in the twelve months ending February 2016 ($244,400) shows an increase of 8.8%. The same comparison of the median shows an increase of 8.3% over that same period.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

1471 BARRINGTON AVE

Price: $514,900    Beds: 5    Baths: 3    Sq Ft: 3756

Luxurious & grand! Great Rm w/ surround sound, Brazilian cherry hardwd & gas fp. HUGE theater/bonus rm. Open KIT w/ cherry stained cabinets, island, LED under+above cabinet & toe-kick lights. Private mstr ste w/ access to back, bath w/ heated marble...View Home for Sale >>


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Displaying blog entries 1-10 of 117

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Photo of Galand Haas Team  Real Estate
Galand Haas Team
Keller Williams Realty Eugene and Springfield
2644 Suzanne Way
Eugene OR 97408
Direct: (541) 349-2620
Fax: 541-687-6411

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