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Monthly Newsletter from Galand Haas

Lane County Real Estate

RMLS Most Available Data For This 2015 Reporting Period


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.


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.


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.

We Have Buyers Looking For These Homes

Danebo, Southwest Eugene, River Road, Santa Clara

3+ bedrooms, 1+bathrooms, 1000+ SF, priced up to $245,000

Junction City, Harrisburg

3+ bedrooms, 2+ bathrooms, 1300+ SF, priced up to $250,000

West Eugene, Southwest Eugene

2+ bedrooms, 1+ bathrooms, 900+ SF, priced up to $160,000


This New Law Will Protect You from Surprising Closing Costs

You’ve heard the home closing stories: At the eleventh hour buyers find that the amount needed for closing is different from what they were told. Ack! Fear no more. There’s a solution.

If you’re about to close on a new house, your timing couldn’t be better. Thanks to new mortgage rules from the Consumer Financial Protection Bureau (CFPB) that kicked in on Oct. 3, 2015, there’s good news on the dreaded loan paperwork front.

You’ll now receive transparent loan and closing documents, which could save you money on small-print fees you might otherwise miss. In addition, you’ll get these docs three days prior to closing — not 15 minutes as sometimes happens — before it’s time to make everything official.

The downside? The new rules, nicknamed “Know Before You Owe,” bring some challenges. But a REALTOR® can guide you through the paperwork and the roughly four- to six-week home closing process so you’ll know what you need to provide to the lender and when. In the meantime, here’s everything you need to know before you owe:

What paperwork will I get?

  • A loan estimate. You’ll receive the LE within three business days of filing a complete application with a lender. It itemizes the loan information and estimates fees for all the third-party services, like title search, title insurance, and credit report. Get a loan estimate from several lenders so you can decide which mortgage is best for you.
  • A closing disclosure. The CD comes at least three business days before the closing and includes the same breakout of loan costs and third-party services, but with final costs rather than estimates.

“[The docs] give [buyers] every single bit of data tied to the purchase of that home,” says Ben Niernberg, executive vice president for business operations and development at Northbrook, Ill.-based title insurance agency Proper Title. And with knowledge comes power.

How to read the new forms

The numbers on both the loan estimate and closing disclosure are grouped by category. Here are the highlights:

  • Loan terms. You’ll see the total amount of the loan, the interest rate, and the monthly payment for just the loan itself. The section will also say whether there’s a penalty for paying off the mortgage ahead of time or if you’re on the hook for a big balloon payment after some number of years. (You don’t want one!)
  • Projected payments. This is the amount you can expect to pay every month, including the mortgage, any mortgage insurance, and estimated taxes, insurance, and assessments. The only change to your monthly nut in the future would be a property tax or insurance cost increase. .
  • Costs at closing. Here’s where you see the total amount of cash you need to bring to closing. In the LE, it’s an estimate; in the CD, it’s a final number.
  • Closing cost details. This breaks out all the additional fees, whether from the lender or for third-party services. In the LE, you’ll see the third-party fees split into those you can price shop for and those you can’t. For example, you’ll have to use the lender-chosen appraiser, but you can shop around for homeowners insurance. In the CD, you’ll see a final list of services you shopped for and those the lender arranged.

There are some additional differences between the LE and the CD. For example, the CD lists amounts already paid on your behalf, such as a deposit or a credit that the seller has given you to cover the cost of fixing a problem. Naturally, the lender can’t know about these when preparing the LE.

Timing is everything

Because of the strict document timing rules the lender has to follow, it’s important to provide the lender with the information it needs to process your loan promptly. Your real estate agent will help ensure that paperwork and negotiations with the seller are completed in time so there are no delays.

What could cause a snafu? Three main things. (But don’t sweat them. They aren’t likely to happen, according to the CFPB.)

  1. The interest rate on a fixed-rate loan goes up 1/8th of a percent or the variable rate on an adjustable-rate mortgage (ARM) goes up 1/4 of a percent between the time you get the LE and CD.
  2. The borrower (you) says, “Hey, I don’t want an ARM after all. I want a fixed-rate loan.”
  3. The closing doc lists a prepayment penalty or a balloon payment that wasn’t in the LE.

If one of these did occur, the three-day closing period between receipt of the CD and the closing itself would halt and need to be restarted, adding at least another three days.

Most issues, however, can be resolved at closing or up to 30 days after.

What else should I know?

If you’re selling and buying, talk with your agent about the wisdom of scheduling back-to-back closings and what the best timing for those might be. Same for the final walk through.

Bottom-line: The LE and CD are a good thing. “The law requires that the estimates be in good faith, so they have to be as accurate as possible,” said Jobe Danganan, a former CFPB lawyer and now chief legal and compliance officer with San Francisco-based mortgage-shopping site Sindeo. If figures differ too much, the lender can be on the hook to make up the difference. Even if the difference isn’t that major, you now have some time to discuss it.

Read more at houselogic.com | This New Law Will Protect You From Surprise Closing Costs

10 Friendsgiving Party Tips

Host a festive Friendsgiving for your favorite folk with these ten tips from Meg Allan Cole. (02:50)

View more on HGTV's video channel | 10 Friendsgiving Party Tips


Stuffed Mushrooms

Total Time: 35 min
Makes: 28 mushrooms
Level: Easy

  • 1/2 cup Italian-style dried bread crumbs
  • 1/2 cup grated Pecorino Romano
  • 2 garlic cloves, peeled and minced
  • 2 tablespoons chopped fresh Italian parsley leaves
  • 1 tablespoon chopped fresh mint leaves
  • Salt and freshly ground black pepper
  • 1/3 cup extra-virgin olive oil
  • 28 large (2 1/2-inch-diameter) white mushrooms, stemmed



1. Preheat the oven to 400 degrees F.

2. Stir the bread crumbs, Pecorino Romano, garlic, parsley, mint, salt and pepper, to taste, and 2 tablespoons olive oil in a medium bowl to blend.

3. Drizzle a heavy large baking sheet with about 1 tablespoon olive oil, to coat. Spoon the filling into the mushroom cavities and arrange on the baking sheet, cavity side up. Drizzle remaining oil over the filling in each mushroom. Bake until the mushrooms are tender and the filling is heated through and golden on top, about 25 minutes. Serve.

Read more at foodnetwork.com | Stuffed Mushrooms

Compiled from Google, 2015


Quote of the Month

An inspiring quote about #gratitude from www.values.com #dailyquote #passiton

"Learn to love without condition. Talk without bad intention. Give without any reason. And most of all, care for people without any expectation."

- Unknown    

Read more at www.values.com

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