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Home Seller: How to Price Your Home for Sale

Monday, February 17, 2014
by Galand Haas
VideoVideo

Good Monday Morning!

Even though the inventory of homes on the market for sale in the Eugene and Springfield area is on the low side, it is essential that if you are considering the sale of your home that you price it correctly.  Each time that I expereince a listing where we price high to test the waters, it brings home the reality that this costs the home seller both time and money.  Typically, with this scenario we will get showings, but we don't see offers.  It's only when we make the decision to price with, or below, the market that we will usually see offers.  Home sellers who price with the market will typically get better offers, sell in a shorter period of time and for more money than those who choose to test the water.  

For this reason, I am extremely cautious when givng sellers a value on their home.  If we price too high, the home sits and if we price it too low, we give money away. I can typically come within a few thousand dollars of a homes sales price with my value analysis.  The sellers who rely on my information and listen to the market are typically the ones who put the largest amont of money in their pockets with the sale.

Have An Awsome Week!

THIS WEEKS HOT HOME LISTING!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-in-Real-Estate-Feb-2014-US
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24155 HEWETT RD
Price: $850,000 Beds: 3 Baths: 3 Sq Ft: 3154
Equestrian Oasis! Over 20ac of private & serene views, 2 pastures, 6-stall barn w/ tack rm, office, wash rack, indoor riding arena, storage, shop, full bath & laundry. Custom home w/ vaulted 22ft glass prow front, great rm, 9 skylights, oak cabinets...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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The National Real Estate Market Report: Are we entering a bear housing market?

Monday, February 10, 2014
by Galand Haas

Good Monday Morning!

The following article from "Realty Times", gives a great perspective on our current national Real Estate market.

Since 2011, home prices have gained in the double digits, making a price plateau inevitable. But are we really entering a bear housing market? Not if we look at long-term fundamentals. Rising prices allowed distressed properties to sell, allowing the nation to work through huge oversupplies. Investors were on board until prices returned to normal in many markets.  

Case-Shiller economist Dr. David Stiff explains, "Non-investor demand, although increasing, will not replace demand from investors."

Since housing is far more affordable now than it was in 2006, there is less concern that a new housing bubble will occur, Stiff said in a recent statement. Consider this. As of Q3 2013, the ratio of the median monthly mortgage payment to the median monthly family income was 35 percent lower than it was in Q1 2006 - a 40-year low.  Affordability comes strongly into play when inflation is taken into consideration. It's said that historically, home values beat inflation by approximately one to two percent annually.

In the last ten years, inflation has grown by about 2.4 percent annually, while home prices lost nearly half their value. During the housing recovery, double-digit home price increases handily beat tepid inflation.  According to the U.S. Labor Department, inflation rose 1.5 percent in 2013, while home prices were up 11 percent, says CoreLogic.  In Q3 2013, home prices were 17 percent above the lows reached in Q4 2011 and 23 percent below the peaks reached in Q1 2006. Price appreciation is expected to throttle back to 4.2 percent in 2014, according to CoreLogic's Case-Shiller Index.

While it appears a bear market for housing could be forming, prices are still gaining close to the long-term average of 4.5% since 1975.

As for inflation? Kiplinger's predicts a 2.7 percent gain for 2014, making housing an excellent hedge.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

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920 SUMMIT BLVD
Price: $295,000 Beds: 3 Baths: 3 Sq Ft: 2851
Hilltop Haven w/ Impressive Views! Perfect for entertaining w/ valley & mountain views, 4 decks, 3 sliders, hot tub, wet bar w/ sink & eating bar, & great rm w/ fp! Large viewing window in living rm, kitchen w/ large eating bar, dining area w/ slide...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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How is the national Real Estate Market doing?

Monday, February 3, 2014
by Galand Haas

Good Monday Morning!

Here is a recent article from Real Estate Today that gives us a current perspective on the national Real Estate Market.

Lawrence Yun, NAR chief economist, explained, “Existing-home sales have risen nearly 20 percent since 2011, with job growth, record low mortgage interest rates and a large pent-up demand driving the market. Just when it seemed that home sales were taking a breather, new data from the National Association of REALTORS® (NAR) says that home sales in 2013 were the highest since 2006, well before the housing meltdown.

For all of 2013, housing sales totaled 5.09 million units, which is 9.1 percent higher than in 2012.

Yun says some momentum was lost toward the end of 2013 from disappointing job growth and limited inventory, but the year ended close to normal given the size of the population.

The national median existing-home price for all of 2013 was $197,100, which is 11.5 percent above the 2012 median of $176,800. That's the strongest gain since 2005 when prices rose 12.4 percent.

One bright spot was the decline of distressed homes in the mix. Foreclosures and short sales were 14 percent of December 2013 sales, down from 24 percent the year before.

Total housing inventory at the end of December fell 9.3 percent to 1.86 million existing homes on the market, a 4.6-month supply at the current sales pace.

Homes took longer to sell in December from November, but less time than in 2012.

The NAR suggests that home buyers and sellers face a few challenges in 2014. Mortgage rates are expected to continue to rise, and lenders and borrowers face new mortgage rules, such as new Qualified Mortgage underwriting standards.

But there's still plenty of pent-up demand, with more young adults moving out of their parents' home and into their own homes. The key is job growth, says the NAR. Only the confidence that stems from job security can enable first time buyers to buy and move-up buyers to purchase their next homes.

Fortunately, a new report by the U.S. Conference of Mayors suggests that nearly all U.S. cities are forecast to see economic growth this year, including some cities that have not really recovered from the Great Recession.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

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46121 GOODPASTURE RD
Price: $425,000 Beds: 4 Baths: 3 Sq Ft: 3407
Beautiful, secluded, custom home on the banks of the McKenzie River, featuring a 32ft vaulted ceiling, 2 fireplaces, heated floors, skylights & gorgeous deck. Downstairs offers a lg kitchen with hickory cabs, stainless steel appliances, huge living ...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Home Seller: Improving Curb Appeal

Monday, January 27, 2014
by Galand Haas

Good Monday Morning!

If your home has curb appeal, you'll be able to sell it quickly and for top dollar. That's why REALTORS® rate exterior home remodeling projects as the most valuable homeowners can make.

Many homeowners are confused about which projects will provide the most return on investment as they prepare their homes for the market. The 2014 Remodeling Cost vs. Value Report, co-sponsored by the National Association of Realtors and Remodeling magazine, outlines the costs and resale returns on the most popular home improvement projects.

Realtors know which home features are important to buyers in their area. Projects such as a new entry door, siding and window replacements can recoup homeowners more than 78 percent of costs upon resale.

So why remodel anything if it's not going to give you back 100%? It's because the first impression a homebuyer gets is priceless. You want the buyer to choose your home, and quit looking for something better. If the buyer doesn't like what he sees, you won't get another chance to make any kind of impression.

So which home improvement projects will net the most return? Eight of the top 10 most cost-effective projects are exterior projects.

Replacing your front door with a steel entry will cost $1,100 on average, but you'll get nearly 97% of what you spent back in your pocket.

The second most popular improvement is a deck or patio addition, which will return over 87 percent of costs, similar to the return on fiber-cement siding. Vinyl siding returns a little over 78 percent of costs. In the Eugene and Springfield market area, it is best to stay away from vinyl and go with siding products like Hardi Plank.  This kind of siding is much moire popular with buyers.

A midrange garage door replacement returns nearly 84 percent while an upscale garage door replacement offers 82.9 percent of costs recouped. Wood window replacements recoup over 79% of costs and vinyl windows return nearly as much.

New exterior paint also is at the top of the list along with keeping roofs moss free.

Rounding the top 10 projects are an attic bedroom and minor kitchen remodel. These are important too, but you've got to pique buyers' interest first.

The good news is that the return for all projects is higher in the last two years. To find out what the best return on home improvements is in your area contact me.  I would be more than happy to visit your home and make a checklist of projects that when completed can make a huge difference in the price your home sells at and how long it takes it to sell.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

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28292 Cantrell RD
Price: $550,000 Beds: 3 Baths: 2 Sq Ft: 2531
Acres of Seclusion & Mountain Views! Wonderful property with pond, gazebo, deck, greenhouse, shop, water feature and lots of storage! Home has an open floor plan, skylights, vaulted ceiling, large windows for amazing views, wood stove, kitchen with ...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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The Numbers are in: December 2013

Monday, January 20, 2014
by Galand Haas

Good Monday Morning!

The statistics are in for December 2013 home sales in the Eugene/Springfield and surrounding areas.  As you will see the market continues to slump, which is most likely seasonal.  The good news is that the overal market was up significantly from December of 2012.  We continue to be in a strong sellers market with only 4.4 months of inventory.  As I have said repeatedly, if you are considering selling your home, don't wait until Spring.  Take advantage of this current sellers market and get your home listed soon. Here are the numbers.

December Residential Highlights

Closed sales increased this December in Lane County, but other measures continued their seasonal decline. The 270 closed sales represented the best December in Lane County since 2006, when there were 281 for the month. Florence again bested previous Decembers— the 32 closed sales bested the closest month (December 2009) by nine! Pending sales (173) declined by 31.1% from November (251) and 12.2% compared to December 2012 (197). New listings (175) decreased by 34.9% from the previous month (269) and by 2.8% compared to the same month last year.

Total market time rose slightly to 115 days in December, and inventory lowered to 4.4 months.

Year-to-Date Summary

The 5,560 new listings represent a

14.4% increase over the 4,861 entered in the same period of 2012. There have been 3,765 pending and 3,792 closed sales through the end of 2013, up 11.8% and 14.9%, respectively, from 3,367 pendings and 3,300 closed sales by December 2012.

Average and Median Sale Prices

The average price through December is $224,900, up 11.9% from this time in 2012, when the average was $200,900. In the same comparison, the median price increased 12.4% from $178,000 last year to $200,000 this year. 

Have and Awesome Week!

THIS WEEKS HOT HOME LISTING!

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88604 ERMI BEE RD
Price: $499,000 Beds: 4 Baths: 3 Sq Ft: 3376
Wonderful Wooded Retreat! Secluded 5ac property offers granite, tile, skylites, vaulted ceiling, 4 decks, 3 sliders, beautifully landscaped grounds w/ wtr feat. & pond, walking trail, great view in every rm, oversized garage plus studio (672 sf incl...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Of The New Mortgage Rules (2014), Here Are 8 You Should Know

Monday, January 13, 2014
by Galand Haas

Good Monday Morning!

The new mortgage rules issued by the Consumer Financial Protection Bureau (CFPB) are in effect as of January 10th, 2014. Banks can no longer engage in irresponsible lending practices leaving borrowers unable to repay their mortgages. Lenders can only provide “Qualified Mortgages” that comply with the “Ability-to-Repay” rule. 

 

Here are 8 features of the 2014 mortgage rules you need to know: 

  1. No-doc or low-doc loans are prohibited: Lenders must supply and verify complete consumer financial information. 
  2. Limited points and fees: No more than 3% for a loan of more than $100,000.
  3. No risky loan features: Terms cannot exceed 30 years, no interest-only payments, no negative-amortization payments where principal increases.
  4. Tightened Debt-to Income Ratio: Borrowers cannot exceed 43% Debt-to-Income Ratio (DTI)  
  5. No “teaser” rates: Lenders must verify a borrower’s ability to repay BOTH principal and interest over the long-term, NOT only during an introductory or “teaser” period with lower interest rates. 
  6. Contact with missed payments: Mortgage lenders must attempt contact with homeowners within 36 days of a missed payment. They must also provide available payment options no later than 45 days after the due date.
  7. Clear monthly billing statements: Lenders must send clear statements indicating  what portion of your payment went to escrow and principal, balance owed, and any service or transactional fees. 
  8. Early warning for ARM: Lenders must notify borrowers of increased rates 210-240 days before the next payment and follow up with an additional notice 60-120 days before the new payment is due

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
6815 B ST
Price: $192,500 Beds: 3 Baths: 2 Sq Ft: 1233
Delightful Cul-de-sac Home. Located at the end of the cul-de-sac, this adorable home offers a living room with large window that opens to dining area, kitchen with garden window and pocket door opens to family room with wood burning fireplace and sl...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Home Seller: Don't Wait, Now is the Best time to List your Home!

Monday, January 6, 2014
by Galand Haas
VideoVideo

Good Monday Morning!

No matter what you hear, Spring/Summer is not the best time to place your home on the market for sale in the Eugene and Springfield area.  By far the best time to place your home on the market is right now!  The inventory of homes for sale is always at it's lowest point from January through May.  Following this time inventories of homes for sale climb dramatically and this means that the competition level for your home increases along with this higher inventory.  Buyer demand for homes is typically just as strong through the Winter and early Spring as it is during late Spring and Summer.  With high demand and low inventories, you have a better chance of selling, typicaly a shorter market time and many times a higher sales price than waiting until later in the year.  

Right now there is a shortage of homes for sale and very strong demand.  Don't wait for the leaves on the trees, the flowers and the green grass to get your home on the market.  If you are considering the sale of your home, please call me.  I can set up a time to meet and we can look at what selling your home in this current market looks like.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-in-Real-Estate-US-January-2014
Image Unavailable
28292 Cantrell Rd
Price: $550,000 Beds: 3 Baths: 2 Sq Ft: 2531
Acres of Seclusion & Mountain Views! Wonderful property with pond, gazebo, deck, greenhouse, shop, water feature and lots of storage! Home has an open floor plan, skylights, vaulted ceiling, large windows for amazing views, wood stove, kitchen with ...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Have a Happy New Year!

Monday, December 30, 2013
by Galand Haas
VideoVideo

HAVE A HAPPY NEW YEAR!

The Galand Haas Team

Keller Williams Realty

Eugene and Springfield

Video Link: http://eugeneoregonhomesforsale.com/video/Happy-New-Year-2014



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Merry Christmas!!

Monday, December 23, 2013
by Galand Haas
VideoVideo

Good Monday Morning!

MERRY CHRISTMAS!!  I hope that you have a very Merry Christmas!  Please enjoy this little bit of Christmas nostalgia!  For many of us Bing Crosby was Mr. Christmas!  Enjoy!

Galand Haas

Video Link: http://eugeneoregonhomesforsale.com/video/Bing-Crosby-Its-Beginning-to-Look-A-Lot-Like-Christmas



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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The Numbers are in: November 2013

Monday, December 16, 2013
by Galand Haas

Good Monday Morning!

The Real Estate market in the Eugene and Springfield area remains improved over 2012, but activity has slowed some and the active inventory has now hit 6 months.  This means that we are currently sitting on the fence between a buyers and sellers market. The first quarter of 2014 will give us a good indication of where our local housing market is going to be headed long term.

Real estate activity in Lane County continued its seasonal cooling this November, but numbers are still up for the year. Pending sales (251) decreased 14.9% compared to October, but bested the 244 accepted offers from last November by 2.9%. New listings (269) fell by 27.3% compared to October but are 4.7% ahead of last November. At 238, closed sales dropped 21.5% compared to October and dropped 1.2% compared to last November. Florence had the best November for closed sales (30) since RMLSTM started recording data in 2007!

Total market time decreased slightly to 102 days in November, and inventory rose to 6.0 months.

Year-to-Date Summary

The 5,376 new listings represent a 15.1% increase over the 4,669 entered

in the same period of 2012. There have been 3,607 pending and 3,184 closed sales through November 2013, up 13.3% and 15.5%, respectively, from 3,184 pendings and 3,037 closed sales by November 2012.

Average and Median Sale Prices

The average price through November is $225,900, up 12.4% from this time in 2012, when the average was $201,000. In the same comparison, the median price increased 13.0% from $177,500 last year to $200,500 this year. 

Have An Awesome Week!


Image Unavailable
325 22ND ST
Price: $205,000 Beds: 3 Baths: 2 Sq Ft: 1578
Wonderful Updates and Features! Adorable home updated from floor to ceiling, laminate wood floors, tile shower with body jets, large master suite upstairs. Living room with fireplace, updated kitchen with dining area and slider. Attached 1-car garag...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Haas Real Estate Team
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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