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