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Pending Home Sales Continue To Decline For Seventh Month In A Row

by Galand Haas

Good Morning!

Nationally, pending home sales continue to decline for the seventh month in a row. As the video explains, this is primarily due to home affordability, low inventory and also to a lesser degree, rising mortgage interest rates. This trend could begin the shift to softer home prices down the road. View video HERE.

Have an awesome week!

THIS WEEK'S HOT HOME LISTING!

6997 GLACIER DR

Price: $369,900     Beds: 4     Baths: 2.5    Sq Ft: 2406

Completely remodeled! Fresh interior & exterior paint. All new carpet, vinyl wood floors, LED lights w/ Decora switches, heat pump, furnace, hot water heater. Large lower level bonus space (not included in SF) w/ lots of potential; could make a grea... View this property >>

 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

U.S. Homes Sales Decline 27% in July!

by Galand Haas

Our weather has certainly made a sudden change.  Not to say that a little rain is not a welcome site, it is hard to have the sun leave us even if it is just for a few days.

With sharp drops in sales of existing and new homes being broadcast in the newspaper and leading the nightly newscasts, it's it’s hard to keep a positive perspective about the housing market.

A surprising 27 percent decline in resales from June to July, and a 12 percent drop in sales of newly-built houses during the same period have done very little to build consumer confidence in the market.

Even with this news there are some positive things starting to happen in the national housing market. Housing affordability is at or near an all time high.  This has been created by the lower home prices and mortgage interest rates for thirty year fixed mortgages in the mid 4% range.  Right now 72 .3 percent of median-income American families can now afford to buy the median-priced house. Historically that number has stayed in the low 60 percent range, and sometimes slipped below 50 percent.  But the problem remains that even with the affordability factor being so great, consumers are holding back.  The overall lack of confidence is the reason and the employment figures just fuel the lack of confidence.  Look for a sharp rebound in the market when employment numbers begin increase and buyer confidence returns. 

We were all warned that there would be a sharp drop off in home sales following the tax credit.  We are witnessing what was predicted.  The good news is that the lull could be short lived.

Have an Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
3835 E Street
Price: $139,900 Beds: 3.00 Baths: 1 Sq Ft: 1200
Wonderfully updated home with Hardie-plank siding, granite countertops, new appliances, new carpet, fresh paint, and new fixtures. W/ a vaulted living room, light & bright kitchen and dining room set on a fun floor plan, a welcoming front porch, gre...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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

Spring 2009 Lane County Real Estate Highlights

by Galand Haas

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April Newsletter from Galand Haas

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For Sale: $215,000

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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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Feature Article

Things You May Not Know About Taxes... You probably won't hear families across the country cheering, unless they are getting giant refunds. So now that you've sat down to calculate your income, deductions and ultimate tax liability, here are some thoughts about how next time around, you might be able to get a bigger refund, or a

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Monthly Quote

"Dream as if you'll live forever, live as if you'll die today." - James Dean Here's To You This Month!

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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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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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