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Eugene and Springfield area Real Estate

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ARM loan rollovers could effect Eugene and Springfield Real Estate market

Monday, February 8, 2010
by Galand Haas

Good Monday Morning!

It has certainly been typical January weather for the Eugene and Springfield area.  Rain-rain and more rain.  This is what makes us appreciate Spring time!

Several years back many home buyers were lured into purchasing homes with some very attractive home financing packages.  King of these attractive packages were the adjustable rate mortgages (ARM loans).  Most of these loans were made at interest rates that were well below the going rate and many with interest only payments.  This was a very attractive situation as monthly payments started out quite low and were very affordable.  The problem is that these loans are short term in duration and they adjust out down the road at rates much higher than where they originated and also with new payments that could be as much as 3 to 4 time what the home owner is currently paying.  To compound the problem, most of these loans were 100% financing and the home owner started out with 0 equity in their home.

Now the ARM loan situation has become a crisis as hundreds of thousands of these loans roll over this year and next to the new high rates.  For most of the home owners who did 100% loans, the value of their home has declined significantly since purchasing it, so going after a refinance is not in the picture.  The result of this will be hundreds of thousands of home owners who are now unable to afford their new higher home payment and also do not have a way out because they are upside down in their home.  The result of this will be another huge spike in home foreclosures over the next 18 to 24 months.  This is a very sad situation and the reality is that thousands more will lose their homes.

If you or anyone you know falls into this situation and you are caught by not having any options. The last thing that you want to do is to give your home back to the bank through foreclosure. There are options available that can make this situation easier to deal with and save your credit. If you or anyone you know faces foreclosure please log onto the webs site www.shortsaleeugene.com.  It is wise to explore all of your options.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
2740 W 18th Avenue
Price: $205,000 Beds: 3 Baths: 1.5 Sq Ft: 1285
This is a very nicely remodeled home with fun floor plan and great backyard. It has fresh paint, new carpet, new cabinets, new vinyl, new countertops & fixtures -- this home is priced to sell quickly and won't last long! Take a look inside today!...


AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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Has the national real Estate market hit bottom?

Monday, February 8, 2010
by Galand Haas

Good Monday Morning!

Well, here we are it is 2010!  The Holidays have past us by and now it is time to get back to the norm.  I wish you a prosperous and healthy New Year!

Across the nation indications are leaning towards the fact that maybe the housing market has either bottomed out or is near the bottom.  Even if this is true, we have no idea how long it will hang at the bottom. Also, remember that the current tightening of the belt by lenders is going to keep the housing market from making any large leaps upwards any time soon.  My guess is that we may be near the bottom in our local area, but current economic conditions such as employment could have more of an effect than most realize.  If we are close to the bottom, don't look for a sudden rebound.  Chances are that it will take much longer to get back to a more normal housing market than it did to get to where we are today.  With that thought, the market is the market and there are certainly many opportunities that present themselves now that we did not have during the markets glory days.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
2967 Wolf Meadows Lane
Price: $350,000 Beds: 4 Baths: 2.5 Sq Ft: 1953
Beautiful & immaculate, 2-level home featuring a grand entrance, vaulted living room, formal dining w/ Frnch doors, spacious kitchen w/ granite counters & tile floors, cozy family room and a well-landscaped, fenced backyard w/ large deck. This home ...


AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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2010 May be a year of change and uncertainty with the Eugene and Springfield Real Estate market.

Monday, February 8, 2010
by Galand Haas

Good Monday Morning!

Happy News Years!

One thing that we can count on is that the new year will bring us just as much change and uncertainty with the Real Estate Market in the Eugene and Springfield area as 2009 offered.  The one bit of advice that I would offer anyone who is considering the sale of or purchase of a home in this market is to, "DO YOUR RESEARCH". This means to approach your decision to buy or sell by making sure that you are dealing with professionals who know the market in our area and who can offer you sound advice.  Making decisions without this may be painful and expensive down the road.  

As the top Real Estate Team in the Eugene and Springfield area, the Galand Haas team can provide you with honest information that will give you the certainty that your decision making process is easy and right on target.  Our priority is to help you and make sure that whether you are buying a home or selling a home that your decision is based on good sound knowledge and advice.  Each year we help hundreds of area residents with their home sale or purchase and make sure that we always protect their best interests.  Please contact us whether you are thinking of buying or selling, if you are behind in home payments and face potential foreclosure and need good advice or wish to explore refinancing your home.

Have An Awesome Week!

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4588 AVALON ST
Price: $145,000 Beds: 3 Baths: 2 Sq Ft: 1156
A very cute home with a spacious living room with pellet stove on brick, a good-sized master bed with bath and a fantastic ~bonus~ room from the converted garage. Outside offers a covered deck & fenced backard and a prolific cherry tree. This is a g...


AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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Merry Christmas from the Galand Haas Team

Tuesday, February 2, 2010
by Galand Haas

 

Good Monday Morning!

Please have a very Merry Christmas!

 

Click the link below for a special Christmas gift for you!

http://www.eugeneoregonhomesforsale.com/holiday



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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2010 Real Estate market in Eugene and Springfield area looks similar to 2009!

Tuesday, February 2, 2010
by Galand Haas

Good Monday Morning!

The deep freeze in the Eugene and Springfield area has passed.  Now it is back to just plain old normal Winter weather for the Willamette Valley,

Don't look for any huge changes in our local Real Estate market for 2010.  Most likely home prices will continue their steady slow decline over the next year.  Home inventories should remain somewhat scarce in the $250,000 range and below and upper end priced homes will remain quite slow on the market.  Most demand for housing will be in the first time buyer segment.  Look for mortgage interest rates to remain low for most of the year.  Yes, it looks like more of the same.

Home foreclosures could spike in 2010.  Look for heavier numbers of foreclosed homes and short sales to hit the market as ARM loan rollovers pick up steam.  The rollovers of these loans could mean double or even triple the payments amounts for many homeowners with little chnce of getting out from under them.

One thing that I am hearing a great deal as of late from people thinking of selling their home is, "I think that I will just wait until Spring or Summer when the market is better to place my home on the market".  If you are needing to sell your home, don't fall into this costly trap.  Your home very well may be worth less in the Spring than it is right now and even less yet by Summer.  If our market continues to decline in value as predicted then waiting to sell your home could be a very big mistake.

Have An Awesome Week!

 

THIS WEEKS HOT HOME LISTING

 

 

Image Unavailable
39640 DEERHORN RD
Price: $365,000 Beds: 3 Baths: 1 Sq Ft: 1652
Classy country home on acreage with park-like setting in the Mckenzie River Valley featuring hardwood floors, spacious living room with fireplace, large dining room & kitchen with laundry access. Large bedrooms & lots of storage. Master bed includes...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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Thanksgiving sees more of the same housing market in Eugene and Springfield

Tuesday, February 2, 2010
by Galand Haas

Good Monday Morning!

 

The long Thanksgiving Holiday has passed and now it is time to prepare for Christmas. It is coming fast.

 

We have watched a slow down in the number of homes hitting the market for sale as of the past 30 days.  This is a trend that most likely will continue for a while.  Most of the homes hitting the market now are those who are forced to sell.  As we see the numbers of foreclosures and short sales climb, this trend may continue for months or even a year or so before we see significant changes. 

 

The number of people who may be directly effected by the ARM loan rollovers is going to jump significantly over the next 12 to 18 months.  If you or anyone you know is going to have to deal with this and may reach a home payment that you cannot make, there is help.  The last thing you or anyone you know wants to deal with is a foreclosure which can severely cripple your credit for many years.  If you or anyone you know would like information on alternatives to foreclosure, visit the web site www.shortsaleeugene.com.

 

Have An Awesome Week!

 

THIS WEEKS HOT HOME LISTING!

 

 

 

Image Unavailable
325 MACKIN AVE
Price: $250,000 Beds: 3 Baths: 2 Sq Ft: 2060
Great home with great floor plan in quiet neighborhood featuring lush lawns, relaxing porch, a light & bright entrance, spacious living room with gas fireplace, main-level master suite with walk-in closet & large private bath, a storage-efficient ki...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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Eugene and Springfield Real Estate market remains tough!

Tuesday, February 2, 2010
by Galand Haas

Good Monday Morning!

 

Congratulations to both the University of Oregon Ducks and the Oregon State University Beavers.  Both teams won their football games on Saturday and will now square off on December 3 to battle each other for the Pac 10 championship and the Rose Bowl game.  It's exciting stuff for the state of Oregon.

The inventory of homes for sale in the sub $250,000 range continues to decline.  This price range is where the buyer activity has been and currently is.  There just are not enough homes in this price range to meet demand at this time.  Many of the homes that are on the market in this price range are also either bank owned properties or with sellers needing to do short sales.  For sellers who have homes in this price range it is good news as the market has changed to being a sellers market in these lower price ranges.

The market remains sluggish over $300,000 and is almost non-existant when you get to the $700,000 range and above.  Don't look for any changes in the upper end housing market soon.  In fact this market will continue to be extremely soft and values may continue to decline for another year or two.  If you are going to need to sell a in the upper end price ranges, you are better off to do it now than to have the false expectation that waiting until Spring may bring a better market and higher sale price for your home.  Just the opposite will most likely be true.  

Remember, if you are interested in knowing your homes current market value you can log onto the web site www.forhomesellers-nonSmartZip.com and get a FREE approximate home value analysis by e-mail.  (Service only good for Lane County, Oregon).

 

Have An Awesome Week!

 

 

THIS WEEKS HOT HOME LISTING!

 

Image Unavailable
39640 DEERHORN RD
Price: $365,000 Beds: 3 Baths: 1 Sq Ft: 1652
Classy country home on acreage with park-like setting in the Mckenzie River Valley featuring hardwood floors, spacious living room with fireplace, large dining room & kitchen with laundry access. Large bedrooms & lots of storage. Master bed includes...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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Eugene and Springfield Real Estate market remains tough!

Tuesday, February 2, 2010
by Galand Haas

Good Monday Morning!

 

Congratulations to both the University of Oregon Ducks and the Oregon State University Beavers.  Both teams won their football games on Saturday and will now square off on December 3 to battle each other for the Pac 10 championship and the Rose Bowl game.  It's exciting stuff for the state of Oregon.

The inventory of homes for sale in the sub $250,000 range continues to decline.  This price range is where the buyer activity has been and currently is.  There just are not enough homes in this price range to meet demand at this time.  Many of the homes that are on the market in this price range are also either bank owned properties or with sellers needing to do short sales.  For sellers who have homes in this price range it is good news as the market has changed to being a sellers market in these lower price ranges.

The market remains sluggish over $300,000 and is almost non-existant when you get to the $700,000 range and above.  Don't look for any changes in the upper end housing market soon.  In fact this market will continue to be extremely soft and values may continue to decline for another year or two.  If you are going to need to sell a in the upper end price ranges, you are better off to do it now than to have the false expectation that waiting until Spring may bring a better market and higher sale price for your home.  Just the opposite will most likely be true.  

Remember, if you are interested in knowing your homes current market value you can log onto the web site www.forhomesellers-nonSmartZip.com and get a FREE approximate home value analysis by e-mail.  (Service only good for Lane County, Oregon).

 

Have An Awesome Week!

 

 

THIS WEEKS HOT HOME LISTING!

 

Image Unavailable
39640 DEERHORN RD
Price: $365,000 Beds: 3 Baths: 1 Sq Ft: 1652
Classy country home on acreage with park-like setting in the Mckenzie River Valley featuring hardwood floors, spacious living room with fireplace, large dining room & kitchen with laundry access. Large bedrooms & lots of storage. Master bed includes...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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National Mortgage interest rates reamin at historic lows

Tuesday, February 2, 2010
by Galand Haas

Good Monday Morning!

What gorgeous weather we are having here in the Eugene and Springfield area.  The cold is going to continue, but the sunshine is very welcome!

With mortgage interest rates continuing to be at historically low levels the chance for homeowners to refinance and reduce their interest rate and their payments has never been better.  I continually speak with homeowners who have mortgage loan rates that are well above todays low rates.  For this reason I asked one of the top Mortgage loan officers in our area to give me some ideas as to when a refinance makes sense.

Here is that information. 

“Interest rates remain historically low.  If your current interest rate is over 6.0%, now would be a great time to consider looking into a refinance loan.  Many homeowners that have seen their home values decline or lack equity in their homes are finding relief under President Obama’s Home Affordability Program which allows lenders to refinance a mortgage, even if the homeowner has little to no equity.  If you have been thinking about a refinance, now is the time to act.  Most experts agree that interest rates will rise as the economy continues to recover.  So what are you waiting for?  To schedule a free consultation, please contact David Doak with OMT Mortgage at 541-913-9362 or email at [email protected]”

Let me know if this is okay…

I am not the best at stuff like this.  I hope you like it.

And again, thank you very much.

David E. Doak
Certified Mortgage Planner
OMT Mortgage
2644 Suzanne Way, Suite 110
Eugene, OR 97408
Office 541-242-8080
Cell 541-913-9362
Fax 541-242-0855
[email protected]
http://www.mortgageupdate.biz/DavidDoaksMondayMortgageUpdate.htm

 HAVE AN AWESOME WEEK!

 THIS WEEKS HOT HOME LISTING!

3511 RIVER POINTE DR
Price: $575,000 Beds: 4 Baths: 3 Sq Ft: 3726
Large, goregous home with lots of room & lots of options set in a quiet neighborhood. Featuring a spacious living room, wonderful formal dining rm with French doors that open to patio, large kitchen with island, pantry, breakfast bar & nook. Open fa...View this property >>


AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

Add Comment

Home Value May Continue their slow Decline in the Eugene and Springfield Market

Sunday, January 24, 2010
by Galand Haas

Good Monday Morning!

The deep freeze in the Eugene and Springfield area has passed.  Now it is back to just plain old normal Winter weather for the Willamette Valley,

Don't look for any huge changes in our local Real Estate market for 2010.  Most likely home prices will continue their steady slow decline over the next year.  Home inventories should remain somewhat scarce in the $250,000 range and below and upper end priced homes will remain quite slow on the market.  Most demand for housing will be in the first time buyer segment.  Look for mortgage interest rates to remain low for most of the year.  Yes, it looks like more of the same.

Home foreclosures could spike in 2010.  Look for heavier numbers of foreclosed homes and short sales to hit the market as ARM loan rollovers pick up steam.  The rollovers of these loans could mean double or even triple the payments amounts for many homeowners with little chnce of getting out from under them.

One thing that I am hearing a great deal as of late from people thinking of selling their home is, "I think that I will just wait until Spring or Summer when the market is better to place my home on the market".  If you are needing to sell your home, don't fall into this costly trap.  Your home very well may be worth less in the Spring than it is right now and even less yet by Summer.  If our market continues to decline in value as predicted then waiting to sell your home could be a very big mistake.

Have An Awesome Week!

 

THIS WEEKS HOT HOME LISTING

 

 

Image Unavailable
39640 DEERHORN RD
Price: $365,000 Beds: 3 Baths: 1 Sq Ft: 1652
Classy country home on acreage with park-like setting in the Mckenzie River Valley featuring hardwood floors, spacious living room with fireplace, large dining room & kitchen with laundry access. Large bedrooms & lots of storage. Master bed includes...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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Add Comment

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Keller Williams Realty Eugene and Springfield
2645 Suzanne Way Suite 2A
Eugene OR 97408
Direct: (541) 349-2620
Fax: 541-687-6411
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