Eugene Oregon Real Estate Blog

Good Monday Morning!

Real Estate sales in the Eugene and Springfield area were slightly down in September, but remaining at a higher pace than 2014.  The biggest trend remains to be the lack of inventory.  This is especially true in the lower price ranges.  Don't look for any serious changes as long as mortgage interest rates continue to be at their current low levels.  Here are the numbers for September 2015.

Activity in Lane County cooled slightly this September, but all measures are still ahead of last September. Pending sales (461) fared 31.3% better compared to the 351 offers accepted in September 2014, though 9.8% below the 511 offers accepted in August 2015. Closed sales (443) rose 26.9% over the 349 closings posted in September 2014 but fell 1.8% short of the 451 closings from August 2015. New listings (486) showed an increase of 11.5% compared to last September (436) but were 21.0% lower than the 615 new listings offered last month in August 2015.

Inventory fell just slightly in September to 3.0 months.

Year to Date Summary

Activity was up during the first nine months of this year compared to the same period last year. Pending sales (4,094) were up 30.3%, closed sales (3,658) were up 28.8%, and new listings (5,400) were up 10.0% this year compared to the first nine months of 2014.

Average and Median Sale Prices

Comparing 2015 to 2014 through September of each year, the average sale price rose 3.5% from $235,200 to $243,400. In the same comparison, the median sale price rose 4.8% from $210,000 to $220,000.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

1062 Adams St

Price: $314,900     Beds: 3     Baths: 2     Sq Ft: 1845

Prime location property! Updated hm can be used as single fam, mother-in-law or duplex. Hardwood, 3 ductless heat pumps, storm wdws, corian counters, hardi shingle siding, 40yr roof, tankless hot water, weatherized, gas fp. Original wainscoting, cas...
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AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Morning!

With mortgage interest rates remaining extremely low, first time homebuyers are still making up a huge part of the home purchase market.  If you are currently renting and wanting to own a home or if you are otherwise thinking of that first home purchase, this is the market to do it in.  The affordability of homeownership may never be much better than it is right now. Here is an article from Realty Times that gives great advice if you are thinking about that first home purchase.

Few things in life are more exciting than buying your first home. The feeling of turning the key for the first time (or clicking the garage door opener) is thrilling. You'll likely feel a sense of pride like never before. But getting to that point may be a challenge. And the challenges won't end once you move in.

The more you know about the process, the more prepared you can be for the wrinkles that pop up, and the more you can relax and enjoy homeownership.

1.It may cost more than you expect.

When you're calculating your monthly payment, don't leave anything out. Add in principal, interest, taxes, and insurance, plus any HOA fee. Then estimate landscaping, pool maintenance if needed, and any other fees there may be. Don't forget to include your monthly home warranty cost if you have one.

Experts recommend putting aside a minimum of one percent of your home price for repairs and maintenance per year, so add that in. Think also about utilities. If you're coming from a small apartment, you might have a bump in that monthly cost. Only by taking a real look at the numbers can you get a true feeling for what you'll pay every month as a homeowner.

2. You may only have to put three percent down.

FHA loans aren't your only low down payment option anymore. Ask your lender about 97% LTV loans that require only three percent down for first-time buyers.

3. You can probably afford it more easily than you think.

Rents have been going up way more than home prices in many real estate markets. A recent analysis by RealtyTrac found that, "Payments on a mortgage used to purchase a three-bedroom home were more affordable than paying rent on a similar home in 66 percent of the counties."

4. But…know how much you can really afford.

Your loan approval will tell you how much the bank thinks you can afford. But they only know so much. If you're planning to have a baby or change careers sometime soon and your income could be affected, you may want to stay lower on the payment scale, which means a higher down payment or a less expensive house (or both).

5. You need a preapproval.

Your REALTOR® will tell you this. Believe him. Even if he takes you out to look at houses without a preapproval (many won't, since it could be seen as an indication that you're not serious about buying), you won't be in a good position to make an offer if you find a place you like. And in a competitive market, that could be disastrous.

6. It may be easier to buy a single-family home than a condo.

Strict FHA restrictions on condos can make for a limited pool of options, and, if you can find one that is approved, it might have a higher interest rate. Be sure to ask your lender to provide a side-by-side analysis of a condo and single-family home in similar price ranges; a home that is priced slightly higher may end up being the answer when you examine the numbers carefully.

7. You might be able to get money to fix up your home.

Fashion yourself a DIYer? Ask your lender about 203(k) and HomeStyle loans. "Fannie Mae and the Federal Housing Administration have home renovation mortgage programs that allow buyers to borrow based on what the house is expected to be worth after the home rehab is completed," said Bankrate.

8. You might be able to get a gift for your down payment.

"Cash gifts are also allowed for low-down payment mortgages including the FHA purchase mortgage, which requires a 3.5% down payment and the Conventional 97 mortgage from Fannie Mae and Freddie Mac which requires just 3% down," said The Mortgage Reports.

They're also allowed on many other conventional loans, and can help a first-time buyer get to a 20 percent down payment that would help them qualify for the lowest rates. Check out The Mortgage Reports for important details about down payment gifts. Do it wrong, and your application can be rejected. There also may be tax implications for improper gifting.

9. Gift funds may also be allowed for your closing costs.

Be sure to ask your lender. Not having to come up with thousands of dollars at closing means money for new furniture!

10. You'll have a love-hate relationship with your HOA.

You'll appreciate them when the car up on blocks for a week in front of the neighbor's house is towed. Not so much if it's your car up on blocks.

11. You'll want to thoroughly check out the neighborhood.

Make sure there are no development plans that may affect your home value in the neighborhood you're looking at. Talk to the neighbors. Check for sexual predators nearby. And spend some time in the area at different times and on different days so you can observe the neighborhood flavor. You also might want to arrange to commute from/to the house one day to see what you have in store.

12. You'll want good schools. Even if you have no kids.

Families inherently seek a neighborhood with quality schools. But studies show that good schools can dramatically affect home value, making these neighborhoods desirable to buyers without kids as well. "Living near a high-scoring school can increase your home's value by over $200,000, according to the  Brookings Institution," said AOL.

13. You can derail your loan approval.

Don't check your credit, get a new store credit card, close an account, or buy a new car while you're in escrow - you might not stay in escrow. Listen to your lender and hold off on anything that could affect your credit or financial situation until you close.

14. The home inspection will reveal some issues. It always does.

Keep a cool head and let your Realtor handle any negotiations. You just might come out better than before.

15. You're gonna get a tax break.

You're probably already looking forward to this, but do you know the details? Your mortgage interest is a write off. So are your Private Mortgage Interest (PMI) fees and any points you pay to buy down the rate on your mortgage. All told, you could be getting a nice little return come tax day. Check out this calculator to estimate your tax break.

16. It will be more work than you imagined.

Stuff leaks, breaks, makes weird noises, shuts down, peels, crumbles, flames out, and falls off. You will learn how to fix it all, or at least how to make a phone call to someone who can.

17. It will all be worth it.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING

 
 
 

2685 Valley Forge Dr

Price: $524,900    Beds: 3    Baths: 2    ½ 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 >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Morning!

Things have now changed with your new mortgage loan.  New documents are now going to be required on all transactions and these new documents and new rules will most likely increase the amount of time it takes to close on your loan.  Here is a recent article from Realty Times that talks about the new items that went into effect on October 3rd of this year.

The Know Before You Owe disclosure form issued by The Consumer Financial Protection Bureau will go into effect on October 3, 2015. The rule provides for easier-to-use mortgage disclosure forms that clearly lay out the terms of a mortgage for a homebuyer.

But some lenders and real estate agents say the new mortgage rules may delay closings. What will change is that three documents, the HUD-1 Settlement Statement, the Good Faith Estimate, and the Truth-in-Lending disclosure will be pared down to two new closing forms called a Loan Estimate and a Closing Disclosure.

The Loan Estimate form must be given to consumers no later than three days after they formally apply for a loan. That means providing financial information to the lender and signing a mortgage application.

When the consumer receives the Loan Estimate form, he or she will know what the loan amount and the interest rate will be, how much the monthly payment is, an estimate of taxes and insurance based on local rates, and how much down payment is required.

To prepare for settlement, homebuyers will have a three-day period to review the Closing Disclosure form. Because of the added review period, lenders are recommending that borrowers lock in their mortgage rates for longer periods than they normally would.

CNBC real estate reporter Diane Olick explains that the "new rules will require lenders, title companies, real estate professionals and insurance representatives to all come together sooner in the process to ensure the disclosures do get out in time."

For example, a 30-day rate lock is typical, but borrowers can extend the lock period up to 45 days or 60 days. However, there may be a question as to whether or not more time is really needed to close the loan.

According to Bankrate.com, Borrowers are often told there's no charge for a rate lock. That's true in the sense that the rate lock isn't associated with a fee. But a rate lock isn't free.

Josh: A longer rate lock typically involves a higher interest rate, which is more expensive for the borrower. The interest rate or "pricing" difference between a 15-day rate lock and 60-day rate lock might be as little as one-eighth or as much as half of a percentage point, or roughly $25 to $50 per month for the life of the loan.

Laura: Meanwhile, real estate agents are preparing for the worst. According to a new survey by the National Association of REALTORS® says that about 56 percent of REALTORS® say they plan to add more time to their contracts.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

755 Horn Lane

Price: $274,000     Beds: 4     Baths: 2     Sq Ft: 1868

Tranquil & spacious property! Beautifully landscaped 0.41 acre lot provides seclusion & great entertaining spaces. Remodeled home offers updated kitchen & baths, large living rm w/ gas fp, formal dining, large windows+skylight. Private master ste w/...
View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

One thing that you can depend on is that the Real Estate Market that you see today is most likely not going to be the same one that you see a month from now and so on.  The environment for first time home buyers has been the exception as of late, but it is most likely due for a change.  The following is an article from Realty Times that explains why first time home buyers need to act now!

With some of life's milestones, there may not be a picture-perfect time to take the plunge. But when it comes to buying your first home, the combination of good market conditions and your own financial situation can dictate timing. If you've got the credit and down payment, you'd be crazy not to buy now. Want to know why?

Rates are still low

The Federal Reserve was expected to raise rates this summer, but so far they have stayed put. There is still talk that rates could go up before the end of 2015. So what does that mean for buyers? Well, if you're a millennial, a rise in interest rates could spell bad news.

"If mortgage rates hit 6%, a third of millennials (people younger than 35 years old) wouldn't be able to afford homes as they're currently listed, according to an analysis by HouseCanary, a housing-data analytics company," said Money magazine. "Mortgages are huge loans, so a seemingly small shift in interest rates can change a borrower's monthly payment by hundreds of dollars (though going from the current 4.08% rate to 6% is in no way a small shift)."

Investopedia's example using a $215,000 home with 20 percent down (leaving a $172,000, 30-year mortgage) figures a monthly payment of $821.15 at an interest rate of four percent and $923.33 at five percent. Is that $100 a month enough to get you moving?

New low down payment loans

First-time buyers have typically gravitated toward FHA loans for their low credit score requirements and down payments of just three and one-half percent. But new loans from Fannie Mae require as little as three percent. Known as the 97% LTV (Loan To Value) loan or Conventional 97, it can be more affordable for first-time buyers because "the Conventional 97 program does not require an upfront mortgage insurance premium, and because its annual mortgage insurance rates are cheaper, too," said The Mortgage Reports.

Rising rents

In many market, home prices are up significantly from their lowest levels several years ago, but are still within range of many buyers. Rents, on the other hand, continue to go up, pushing household spending to new, uncomfortable, heights.

"Payments on a mortgage used to purchase a three-bedroom home were more affordable than paying rent on a similar home in 66 percent of the counties recently analyzed by RealtyTrac," said Mortgage News Daily. "Across all 285 counties analyzed, the average percentage of median household income needed to rent was 29.96 percent while the average percentage of median household income needed to buy was 29.00 percent."

Tax deductions

When you pay rent, the entirety of your payment goes to the landlord or property owner, and all you get in return is a temporary place to stay. When you own your home, the government essentially pays you money back for your investment.

"Your biggest tax break is reflected in the house payment you make each month since, for most homeowners, the bulk of that check goes toward interest," said Bankrate. "And all that interest is deductible, unless your loan is more than $1 million."

Any points you paid on your loan are also deductible the year you paid them, as are your property taxes. "These taxes will be an annual deduction as long as you own your home," said Bankrate. "But if this is your first tax year in your house, dig out the settlement sheet you got at closing to find additional tax payment data. When the property was transferred from the seller to you, the year's tax payments were divided so that each of you paid the taxes for that portion of the tax year during which you owned  the home. Your share of these taxes is fully deductible."

Lower PMI

First-time homebuyers who put less than 20 percent down on an FHA loan will have to pay Private Mortgage Insurance (PMI). It's one of the drags of having limited cash. For the past several years, those payments have cost buyers an annual premium of 1.35% of the loan balance, but a recent change dropped the premium to 0.85%.

"This change is expected to save more than 2 million FHA homeowners about $900 a year and allow about 250,000 consumers to buy their first homes in the next three years," said Credit.com.

Remember also that your PMI may also be tax deductible, subject to a few restrictions (and remind yourself again what portion of your rent is deductible: none).

Have An Awesome Week!

THIS MONTHS HOT HOME LISTING!

2685 Valley Forge Dr

Price: $524,900    Beds: 3    Baths: 2    ½ 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 >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

The numbers are in and for August 2015 the Eugene and Springfield area Real Estate market slowed slightly, but overall sales were good.  Here is what took place last month!

August Residential Highlights

August brought slightly cooler real estate activity to Lane County, but numbers remain ahead for the year overall. Pending sales (511) rose 20.8% ahead of the 423 offers accepted in August 2014, although 2.5% cooler than the 524 offers accepted last month in July 2015. Closed sales (451) fared similarly, besting last August’s 360 closings by 25.3% but cooling 16.8% from July 2015. New listings (615) were 7.0% ahead of the 575 new listings posted in August 2014, but 4.9% lower than the 647 new listings offered last month in July 2015.

Total market time decreased by one day in August to 79 days, and inventory increased to 3.2 months.

Year to Date Summary

Activity was up during the first eight months of this year compared to the same period last year. Pending sales (3,665) were up 30.0%, closed sales (3,189) were up 29.1%, and new listings (4,889) were up 9.7% this year compared to the first eight months of 2014.

Average and Median Sale Prices

Comparing 2015 to 2014 through August of each year, the average sale price rose 3.3% from $236,300 to $244,100. In the same comparison, the median sale price rose 4.0% from $211,500 to $220,000.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

755 Horn Lane

Price: $274,000     Beds: 4     Baths: 2     Sq Ft: 1868

Tranquil & spacious property! Beautifully landscaped 0.41 acre lot provides seclusion & great entertaining spaces. Remodeled home offers updated kitchen & baths, large living rm w/ gas fp, formal dining, large windows+skylight. Private master ste w/...
View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

Nationally, home sales are remaining strong and mortgage interest rates are holding steady and have actually declined slightly.  Locally, here in the Eugene and Springfield area the market remains strong as well.  This is especially true in the price ranges under $400,000.  Inventories of homes for sale also remain low in many price ranges and areas.  If you think that it is not the right time of year to sell your home, think again.  With a strong market and strong demand from home buyers, this market is still very attractive for being able to sell your home at a good value.  As long as we have these attractive mortgage interest rates and a low inventory of homes for buyers to choose from, it will remain a sellers market.  

If you are considering a home sale, don't wait until Spring.  The best opportunity for a sale just might be right now.  Please contact me if you are wanting to get an idea of what your home is worth on today's market.  Just a 20 minute visit to your home will give you all of the information that you need.

 

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

114 Hayden Bridge Way

Price: $249,900     Beds: 3     Baths: 2     Sq Ft: 1451

Pride of ownership shows. Over 1/4 of an acre offers oversize attached garage, detached garage/shop with workbench, long wide drive with room for RV parking, large fenced backyard with covered patio, plus timed sprinkler system. Great room with fire...
View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Morning!

One of the key parts of selling a home and getting top dollar for it is to have it look appealing to would be home buyers.  Home staging has been a trick that has worked well for me as a listing agent for years.  If you are considering selling your home, here a some ideas that will help you get top dollar in any market. This is an article from "Realty Times".

Getting ready to sell your home? It would be awesome to hire a home stager.

Home stagers are paid to furnish a home and help it look its best. What they create isn't so much the ideal living environment but rather the idealized one—one in which there are no awkward furniture arrangements, toys on the floor, crumbs on the countertops, or surprises in the toilet. It's not maintainable for most people everyday, but boy does it work when selling your home.

Stagers typically have furniture and accessories at their disposal—not to mention interior design degrees. But they can cost hundreds—even thousands—of dollars. Fortunately, you can achieve great results by using some of their tricks.

Clear it out and clean it up

The first step in preparing any home for sale is to clear it out and clean it up, getting rid of clutter and personal items and scrubbing it down.

"De-cluttering -- and having a pristine home from top to bottom -- are the no-brainers that can make your real estate look better than the house down the block," said Better Homes and Gardens. "Your home must be cleaner and less cluttered than it's ever been. You need to banish not just the day-to-day buildup (the mail, the shoes, last season's clothes, the dog hair), but also several years' accumulation."

Removing kids' toys, outdated furnishings, and excessive knickknacks can help. Whatever you can't sell or donate, box up and store at a friend or relative's house, or rent a storage unit for a couple of months. Or, if you can do so neatly and without compromising your garage space, stack them along a wall.

Depersonalize

A house that reflects your personal style from floor to ceiling and all over the walls (and every other surface) will have a hard time appealing to buyers.

"Prospective buyers won't be able to picture themselves in the house if they're surrounded by dozens of photos of your children and grandparents," said Bankrate.

Update the bathroom

Not everyone has the funds for a big bathroom renovation prior to selling. Smart changes can make a big difference.

"Avoid dated tile by painting. Bathrooms sell houses, but dated tile in a bathroom doesn't. A low-cost alternative to replacing the tile is to use paint," said HGTV. "First coat the tiles with a high-adhesion primer.

Next, brush on a special ceramic epoxy covering. For a fraction of the cost of new tile, you will have an up-to-date bathroom that brings in big bucks."

Pay attention to design details

After you've cleared away the clutter, you want to focus on creating simple, elegant designs. It's easier than it seems.

"For a visual impact on a table without a lot of fuss, remember a design basic: Groupings of odd numbers always do the trick! Three of a kind, like…hurricane jars, filled with something as simple as pinecones, makes a ridiculously easy and dynamic table scape," said Katie Jane Interiors.

Up your curb appeal

Make sure you make a great first impression, or you might not have an opportunity to make a second impression.

"You may have spent hours making sure the kitchen is clean, and doing so is worth the effort," sad Bob Vila. "But remember, the facade is the first part of your house a potential buyer will see. A little landscaping can go a long way. Strapped for time? Potted plants placed around the front door will add welcome charm to your entryway."

Pay attention to odors

We get used to our environment, so we might notice that musty smell or cat box aroma. Have your realtor or a trusted friend do a walk through and give you an honest assessment—not just of the way the house looks, but how it smells. Then take action to improve it. Start by steam cleaning the carpets and any upholstered pieces that need it.

Don't ignore the windows

Windows that are cloaked by outdated or heavy window coverings can negatively impact the image your home projects. Open the blinds and replace drapes with inexpensive versions that will let the light in and frame the views.

"Need to dress up a window but don't want to shell out big bucks for window treatments? Here's a trick: Use place mats," said HGTV. "First, apply a hook-and-loop fastener to the place mats and attach them in a row to a basic curtain rod. Now that the place mats are attached to the curtain rods, pin them together at the bottom, and you'll have a stylish valance that costs about $12."

Upgrade the Furniture

Giving your home a fresh, clean look with new furniture can make it feel more modern and appeal to more buyers. Don't have money for new stuff? "Try giving worn-out pieces a pick-me-up with new pillows or a slipcover," said Bob Vila.

While you're at it, take a look at your furniture layout too. "Your preferred setup may not be the most appealing one to would-be buyers. Where logical, opt for a social layout that makes it easy to envision the space being enjoyed among family and friends."

Give rooms a single purpose

That home office that doubles as a guest room is useful, but when it comes time to sell your home, pick one and run with it. "Potential buyers are confused by extra rooms that have a mishmash of uses," said HGTV.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

114 Hayden Bridge Way

Price: $259,900     Beds: 3     Baths: 2     Sq Ft: 1451

Pride of ownership shows. Over 1/4 of an acre offers oversize attached garage, detached garage/shop with workbench, long wide drive with room for RV parking, large fenced backyard with covered patio, plus timed sprinkler system. Great room with fire...
View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Morning!

Winging it on your own with a home purchase today is much harder than it has been in the past.  It has never been more important to seek out a Real Estate professional who is an expert in the mortgage world, home values by neighborhood and area, home inventories, market trends and is a great negotiator.  It's just as important to find a trusted Real Estate expert as it is to find the best lawyer or doctor.  It can make a huge difference during the purchase process and it can pay you huge dividends down the road.  Here is an article that was published in "Realty Times", that speaks to the importance of hiring a professional Real Estate expert for your home purchase.

Getting a purchase closed in today's market is complex. The real estate market has changed greatly from only a few years ago. Buyers face many more hurdles including stricter financing, low housing supplies, higher mortgage rates, and rising prices.

To negotiate today's challenges, you need a real estate sales professional to help you close the deal. A good real estate professional understands current market conditions. He or she has house-by-house neighborhood experience and can help you obtain the right home at the best price and terms.

Your agent can help you find a home quickly. Not only do real estate agents have access to the local multiple listing service, they also share knowledge of homes coming onto the market with their colleagues. Your real estate professional will tell others about your requirements for a home so they can also be on the lookout for you.

In fact, networking is one of the biggest industry advantages. Many homes are bought and sold without a sign ever going into the yard. But, for buyers to be shown the latest homes on the market, or to hear about homes about to come onto the market, there has to be a strong relationship between the buyer and the real estate professional.

If you want to be the buyer positioned to make first and best offers on the most desirable homes, make certain your agent knows you are committed. How do you show you're serious? There are several ways.

Get prequalified with a lender. Share your financial records so you know exactly how much home you can buy. Your agent won't go over your limit because it would be a waste of time to show you homes you can't afford to buy.

Work with only one agent. You can do this by signing a buyer's representation agreement, if it's customary in your area. If not, show your loyalty by telling other agents you may meet at open houses or socially that you are represented and give them your agent's name.

Don't shop for homes without your agent. If you want to look at open houses or builder homes, invite your agent to go along. If your agent can't go, make sure you register your agent's name with builder sales reps and open house sellers' agents.

Be loyal. Real estate professionals work primarily on commission. If the deal of the century is about to come on the market, who do you think your agent will tell first - the buyer with five other agents or the buyer who is loyal? If you're playing agents against each other thinking you'll get people to work for free and that you'll have your pick of homes to choose, you're wrong. Agents talk, and they'll find out they're working for the same buyer. If you want great service, show appreciation, confidence, and commitment.

Once you find the house you want, the work really begins. You'll have to navigate negotiations, loan approval, seller's disclosures, inspections with environmental and structural reports, and so on. From helping you make a reasonable offer, to providing for the discovery and disclosure of material facts, your agent can help protect your interests.

Buyers and sellers are natural adversaries. Agents must be skilled negotiators and problem solvers, as well as anticipate problems before they happen. Pride, ignorance, or stubbornness can get in the way of a fair deal for both sides.

Your agent will share your risk, and will make sure you go into any home purchase with your eyes wide open. Take advantage of the greatest homebuying resource available -- your own real estate agent.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

2685 Valley Forge Dr

Price: $524,900    Beds: 3    Baths: 2    ½ 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 >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Morning!

With the housing market improving in the Eugene and Springfield area, new home construction is taking off again after a long slow period. Right now there is a variety of new homes and new areas to choose from in a wide range of pricing.  If you are thinking about buying new instead of an existing house, here are some tips from "Realty Times" on purchasing a new home.  Please remember that the Galand Haas Team has over 20 years of new home purchase experience.  Our experience ranges from finding you the perfect new home to helping you find the right builder, right area and leading you through the construction process.  Please contact us if you want to look into the purchase or construction of a new home.

Buying a new home can be a truly exciting experience. Choosing your lot and floorplan, picking out all your fixtures, watching the progress from foundation to framing to finishes. Makes me want to run out and tour a model home right now!

Through all the excitement, though, there are a few realities that may be surprising for those buying new for the first time.

1. You probably won't be able to negotiate the price. New homes are not like resale, where there is the expectation of price negotiations back and forth. The price set by the builder is most likely the price you're going to pay. The exceptions are when there are just a few homes left and when there is standing inventory that needs to be sold.

"Look for builder inventory homes that have been on the market for 45 days or more," said Inman. "These are the homes in which a buyer might be able to get a good deal."

 

2.  But you may be able get some upgrades at no cost.

   More typical in a new-home community is getting some upgrades thrown in—things like window coverings or nicer flooring. Negotiating a few must-haves into your deal can help offset your costs. Some builders may also help with closing costs as an incentive to buy.

3. There might also be incentives to using the builder's in-house lender.

 Many builders have an in-house or preferred lender they work with to provide financing for buyers. There may be advantages to using this lender—better terms or a rate that's bought down. By law, the builder can't make you use their lender, so if you feel pressured, be sure to discuss with your real estate agent.

4. Use a REALTOR®.

 Speaking of Realtors…you can use your agent to buy a new home, and, in fact, you should.

"In general, builders' model homes are staffed by agents who work directly for and represent the builder. A buyer also needs to have a real estate agent who represents them and looks after their best interests," said Inman. "Keep in mind that most builders will require that the real estate agent accompany and register the buyer on their first visit to the builder's model home or community."

 

5. Your home will not look like the model.

 When you tour a model home, it's decked out with pretty walls and floors and lighting and countertops. The furniture is to scale and the fabrics are custom and the pictures are hung perfectly. It's pretty seductive. But the empty shell you buy won't look like this if you go with all the standard configurations and finishes. Be realistic about what you want, what you need, what you can afford, and how that translates to what you are seeing. The salesperson can point out which of the items you love in the model come standard and which are pricey upgrades.

6. The price of the home as advertised is not what you'll pay.

 Typically, it will take many tens of thousands of dollars in upgrades and options to get the home you buy to look like the model. This can be a rude awakening for buyers who are trying to stick to a strict budget. The good news is rolling some of those upgrades into the mortgage can make good financial sense, according to Money Crashers.

"Upgrading during the initial construction phase is generally cheaper than updating your home later on. For example, if you choose to upgrade from laminate flooring to hardwood, you'll pay the difference in material costs—but you won't necessarily have to pay extra for the installation itself, since your builder needs to install floors in the first place. The same goes for things like windows and bathroom features."

7. You'll be dealing with construction noise and traffic. For a while.

 The peaceful life you envision can be a reality, but probably not from the get-go. Depending on the community, it may take time to complete construction. Which means dealing with congestion and hassle for the time being. Amenities like pools, sport courts, and trails may also not be built out by the time you move in. Asking ahead of time about the construction schedule can help you manage expectations.

8. Not everything will work perfectly.

 In any house, there are bound to be issues. New homes are no different. Builder warranties will help.

"Warranties for newly built homes generally offer limited coverage on workmanship and materials relating to various components of the home, such as windows, heating, ventilation and air conditioning (HVAC), plumbing, and electrical systems for specific periods. Warranties also typically define how repairs will be made," said the FCC. "The duration of coverage varies depending on the component of the house. Most warranties on new construction cover siding and stucco, doors and trim, and drywall and paint during the first year. Coverage for HVAC, plumbing, and electrical systems is generally two years. Some builders provide coverage for up to 10 years for "major structural defects."

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

 

4215 Heins Ct

Price: $239,900     Beds: 3     Baths: 2     Sq Ft: 1489

Beautiful Brand New Home! Another great home from builder Gary Konold. Located in cul-de-sac w/ shopping only a 2 minute drive away! One level home offers laminate wood flrs, granite counters, vaulted & high ceilings & Great Room layout. Dining area...
View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

Nationally, home sales for August 2015 were up again and well above the same time period for 2014.  Home prices also continued to climb across the nation.  This trend continues to show a strong overall housing market this Summer. But, as I mentioned last week, beware!  The market you see today may not be here much longer.  If you are considering selling your home, don't miss out on this market.  This current opportunity to sell at top value may not be seen again for a few years.  

If you are thinking about selling, but just not sure how it all would work for you, contact me.  With a short 20 minute visit to your home, I can provide you with an analysis of your homes value and also talk to you about the process. There is not pressure to list.

If you would like to get a reliable idea of the price range your home should be in, then visit the best home value website in our market area, www.forhomesellers-nonSmartZip.com

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

4215 Heins Ct

Price: $239,900     Beds: 3     Baths: 2     Sq Ft: 1489

Beautiful Brand New Home! Another great home from builder Gary Konold. Located in cul-de-sac w/ shopping only a 2 minute drive away! One level home offers laminate wood flrs, granite counters, vaulted & high ceilings & Great Room layout. Dining area...
View this property >>


 

AND HERE'S YOUR MONDAY MORNING COFFEE!!