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Displaying blog entries 31-40 of 76

Mortgage Interest Continue Their Decline

Sunday, July 25, 2010
by Galand Haas

Good Monday Morning!

Just when we thought that mortgage interest rates could not go any lower, look what happens, they drop even further.  In fact the declining rates received my full my attention about a week ago and as I monitored them I finally decided to lock in a rate for a refinance on my personal home.  Yes, I locked in at the rate of 3.8% on a 15 year fixed conventional loan.  I used to brag about my 4 1/2% rate, but never dreamed that I would ever see a mortgage rate at sub 4%.  

This window of opportunity will be short lived, so if you want to take advantage of these historical low rates you will need to act quickly.  The rule of thumb is that if you can drop your rate by 1% or more, then it is a sound idea to refi your existing loan.  In my case I was just short of the 1%, but the 3.8% was very attractive so I jumped at it.

If you do make the decision to refinance, check out the rates quoted by your lender and also compare them and closing costs with a competitor.  My suggestion is to always get more than one quote.  If you have a trusted mortgage broker then that would be a good place to start.  If you do not then ask a friend or relative if they have someone who has done a good job for them. My advice is to stay away from the online mortgage companies.  Speak directly with a broker who has an office in your market area.  If you should need someone on the Eugene and Springfield area, I would highly recommend my broker, JR Irwin at OMT Mortgage.  You can reach JR at 541-521-5577 or visit his web site atwww.teamirwin.com.

Have An Awesome Week!



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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Home Buyer Tax Incentives Will End

Tuesday, July 13, 2010
by Galand Haas

Good Monday Morning!

It looks like Spring has been put on hold for a bit.  The good news is that we now have most of our lakes and reservoirs filled to normal levels and our mountain snow pack is looking much better.

The current buyer tax incentives for both first time homebuyers and move up homebuyers will end on April 31st of this year, unless extended again by the Feds.  The first time home buyer tax credit is for $8,000 and the move up buyer credit is for $6,500.  Currently, if you are in contract by April 31st and close by June 31st and you meet the criteria for either credit then this will apply to this years Federal tax.  There is much speculation at this time that the tax credits will not be extended again and as a result we are certainly watching a surge of buyer activity as the deadline quickly is approaching.  The tax credits have certainly benefited many and they have also added some heat to a very ill national housing market.  But, the real benefit to buyers during our current down housing market is not the tax credits.  With mortgage interest rates continuing to be at historic low levels and home price remaining extremely low and most likely dropping to even lower levels, the true savings to the consumer lies here.  It is important at this point for would be homebuyers to not get caught up with the fact that tax credits are going away, but to focus on the fact that we will most likely not see home purchase opportunities be this favorable again in our life times.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
6906 A Street
Price: $159,000 Beds: 3 Baths: 1.5 Sq Ft: 1244
Charming newer home located on the banks of city-maintained wetlands with a seasonal pond, wildlife & walking paths. The main level features a living & dining room with lam floor & woodstove, a space-efficient kitchen with lots of lots of storage, a...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

 
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A Gentler Market for Eugene and Springfield

Thursday, June 17, 2010
by Galand Haas

Good Monday Morning!

It was another gorgeous Spring weekend in the Eugene and Springfield area. Everything is very green.  It's not hard to see how we got the name the Emerald Empire!

The Real Estate market in the Eugene and Springfield area continues to hold up better than the country in general.  It is good that we did not see the kind of inflation in prices here that many parts of the country experienced.  The result is that our down market has been much gentler than those areas which saw huge growth and inflation.  Nationally, there is currently $1.25 trillion in non performing mortgages. In fact 24% all all mortgages are underwater with negative balances and cities like Las Vegas have 75% of all outstanding mortgages underwater.  

In the Eugene and Springfield area we are not exempt from the current problems and the number of foreclosures and short sales are very high, but not even a drop in the bucket compared to cities like Las Vegas and Phoenix.  Look for our crash to be gentler and maybe our upswing to be slower, but we will be heading upwards from a far better position than many other national market areas.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
965 Hiwan Ct.
Price: $225,000 Beds: 3 Baths: 1.5 Sq Ft: 1296
Great 1-level home with fun floor plan & deck on huge, fenced lot with lots of extras including fruit tress, berry bushes, grape arbor, plenty of room for storage and much more. Inside offers a cute kitchen & wonderful dining area, laundry access, a...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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February 2010 Home Sales Statistics for Eugene and Springfield

Thursday, June 17, 2010
by Galand Haas

Good Monday Morning!

Have you had enough rain? April showers bring May flowers you know!

The statistics are in for February 2010 homes sales in the Eugene and Springfield market area. The sales statistics show a continuing changing market here.  Closed sales were up by 22.6% over February of 2009.  Most sales were in the price range of below $250,000, but there were slight gains in the upper end market.  Pending sales also rose by a whopping 40.9% over February of last year.  It appears that most of the increase in sales continues to be in the first time buyer area and most likely influenced by the $8,000 tax credit that ends on April 30 of this year.  New listings were also up by a whopping 45% over February of last year.  This has provided more homes for the increased numbers of home buyers.  Inventories do remain low in many areas in the sub $200,000 range.  The inventory of homes active on the market was at 10.9 months not only has this dropped from February of last year when it was at 13.1%, it also declined from January of this year when it was at 14.1%.  Remember that inventory at 6 months is an even market and half way between a buyers and sellers market.  At 10.9 months, we are clearly remaining in a buyers market.  

Even with increased sales activity, the average sales price continued to decline and now sits at $212,000.  This is down 7.9% from February of last year.  The combination of having lower home prices and mortgage interest rates at historical low levels gives home buyers what might be the best home buying opportunity they will see in their life time.

Have An Awesome Week!

Image Unavailable
3690 River Pointe Drive
Price: $465,000 Beds: 4 Baths: 2.5 Sq Ft: 2976
A beautiful home w/ fantastic floor plan featuring wood floors, wall-to-wall carpet, skylights, canned lights, granite counters, stainless steel appliances, surround sound system, security system, vaulted ceilings, large bonus room. The master suite...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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Buyer Tax Credits End

Thursday, June 17, 2010
by Galand Haas

Good Monday Morning!

It looks like Spring has been put on hold for a bit.  The good news is that we now have most of our lakes and reservoirs filled to normal levels and our mountain snow pack is looking much better.

The current buyer tax incentives for both first time homebuyers and move up homebuyers will end on April 31st of this year, unless extended again by the Feds.  The first time home buyer tax credit is for $8,000 and the move up buyer credit is for $6,500.  Currently, if you are in contract by April 31st and close by June 31st and you meet the criteria for either credit then this will apply to this years Federal tax.  There is much speculation at this time that the tax credits will not be extended again and as a result we are certainly watching a surge of buyer activity as the deadline quickly is approaching.  The tax credits have certainly benefited many and they have also added some heat to a very ill national housing market.  But, the real benefit to buyers during our current down housing market is not the tax credits.  With mortgage interest rates continuing to be at historic low levels and home price remaining extremely low and most likely dropping to even lower levels, the true savings to the consumer lies here.  It is important at this point for would be homebuyers to not get caught up with the fact that tax credits are going away, but to focus on the fact that we will most likely not see home purchase opportunities be this favorable again in our life times.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
6906 A Street
Price: $159,000 Beds: 3 Baths: 1.5 Sq Ft: 1244
Charming newer home located on the banks of city-maintained wetlands with a seasonal pond, wildlife & walking paths. The main level features a living & dining room with lam floor & woodstove, a space-efficient kitchen with lots of lots of storage, a...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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Slower Than Anticipated Recovery In Housing Market

Friday, April 2, 2010
by Galand Haas

Good Monday Morning,

Nationally, the home sale numbers for new homes have fallen short from predicted levels.  This could indicate a slower than anticipated recovery for the national housing industry.  This is not great news for the economic recovery that we are all hoping for. Consumer confidence in the housing industry is also suffering and this may not turn around for another year to 18 months. While many remain cautious in this market, it may be the best time possible for making an Real Estate investment.  Most fortunes are made during times of adversity and this market will see many fortunes made for savvy investors who are willing to accept risk in this market.  This will certainly hold true for Real Estate investors in the Eugene and Springfield area. The risk for purchasing Real Estate in this market is far less than investing in the stock market.  For casual investors or even buyers looking to move up to a larger, more expensive home the current risk is also certainly lower now than it was during the hot market of several years ago.

If you would like to learn how you can make this market work for you and make low risk Real Estate investments in this current market, please contact us.

Have An Awesome Week!

Image Unavailable
2050 Terresa Avenue
Price: $225,000 Beds: 3 Baths: 2 Sq Ft: 1374
A wonderful home w/ an open floor plan, natural lighting, a private backyard w/ schools & shopping nearby. Featuring a spacious family rm w/ brick fireplace, a light & bright kitchen w/ garden window & brkfst bar, a cozy living rm, a patio, sprinkle...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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When Is The Best Time To Purchase Investment Real Estate In The Eugene and Springfield Area?

Friday, March 5, 2010
by Galand Haas

Good Monday Morning!

If you have not been to an Oregon Duck baseball game at the brand new PK Park you need to do so. What a fantastic facility this is and how much fun is it to watch a college baseball game? This is a great addition to the Eugene and Springfield area!

Most of the Real Estate news over the past several years has focused on the residential Real Estate market and it's continual slide both nationally and locally.  The situation with the residential market has certainly had an effect on the lives of most.  Now coming on the scene is a situation with commercial Real Estate that is going to also have a significant impact on most of us.  Loans for commercial Real Estate are typically much shorter in term than those made for residential Real Estate. Most commercial loans have a duration of seven years.  What we are seeing in both the local and national commercial Real Estate market is that lease rates are declining sharply. The value for commercial property is determined primarily by what the lease value is.  As a result of the lower lease rates, the value of most commercial property has dropped significantly. Over the next 3 years hundreds of thousands of commercial notes are going to be coming due all over the country. As these notes come due the commercial property owners are going to have to find new financing. Due to the lower lease rates, many of these commercial properties values will be less than what is currently owed on them.  The problem will come from the fact that the banks will not be able to loan on the buildings for the amount the owners need and historic numbers of commercial Real Estate owners will now go into default.  This has the potential for a huge economic disaster as thousands of commercial property investors lose their money.  The investor groups are broad as many of the nations largest insurance company's etc. are invested heavily in commercial Real Estate. 

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!
Image Unavailable
6906 A Street
Price: $169,000 Beds: 3 Baths: 1.5 Sq Ft: 1244
Charming newer home located on the banks of city-maintained wetlands with a seasonal pond, wildlife & walking paths. The main level features a living & dining room with lam floor & woodstove, a space-efficient kitchen with lots of lots of storage, a...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand
Add Comment

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

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Post Title

Thursday, November 5, 2009
by Galand Haas

Galand,

Good Monday Morning!

It was the perfect 4th of July.  There were lots of events taking place in the Eugene and Springfield area along with perfect weather.  It just does not get any better!

If you are considering a home purchase whether it is for your personal residence or for investment, you have another golden opportunity in front of you right now.  Mortgage interest rates have taken a large dip again.  Following several weeks of much higher rates, the trend is now looking good again.  The question is the same as before. How long willthe low rates stay around?  It is obvious that that rates will need to come up in the future, but right now with extremely low home prices coupled with the new low mortgage interest rates the climate for purchasing a home has never been better.

Get in touch if you wish to receive further information on looking at homes or if you want help in connecting with the lowest mortgage rates in our market.

You can also visit the web site www.forhomeinfo.com if you would like to search for homes for sale in our area and receive daily e-mail updates on homes that match your search criteria as they hit the market. You can also sign up at the web site www.eugenebankowned.com if you would like to receive a weekly e-mail list of area bank foreclosed homes.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable

83005 FLORENCE AVE, CRESWELL, Oregon

Price: $335,000.00

Beds: 3

Baths: 2

Sq Ft: 2080

Description: Fantastic 2-story home with a wrap-around porch set in the country on a spacious lot with a garden, pasture & lucious lawn. Great floor plan includes a cozy living room & dining area, a k ....

View this property >>



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

Add Comment

Closed Home Sales Down In the Eugene and Springfield Market

Thursday, November 5, 2009
by Galand Haas

Good Monday Morning!

The Real Estate market statistics for Lane County are in for the month of May and they certainly indicate some continuation of existing trends.  Closed sales were down 9.9% over May of 2008, pending sales fell 4.2% and new home listings were off by a whopping 26.3% from May of last year.  The interesting facts are that closed sales grew by 33.5% in May over April of this year, pending home sales grew by 1.6% and listings declines by 1.1% over the same period of time.  There is currently an 8.1 month inventory of active properties for sale which is down by almost a point from April, but this number means that we remain heavy into the buyers market.

If you break this data down it shows you that home prices are down and continuing to decline, while there are far fewer homes to choose from. There was a large flurry of closed sales in May which is representative of the large number of homes that went pening in April  The trend for home sales locally is weakening with only a slight increase in the number of pending sales in May.  This could indicate that the recent rise in mortgage interest rates has put the brakes on our local housing market.  With fewer homes on the market, sellers chances for a sale look improved but fewer buyers in the market could negate that benefit quickly.

My current feeling is that with an unemployment rate of 13.5%, the Lane County housing market is going to be a bumpy road for some time to come.  Low mortgage interest rates could stimulate the market but further increases could have a seriously negative impact.  If you are considering the sale of your home, I would not hesitate any longer with getting it on the market. When you get it on the market price it right!

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable

5947 OBSIDIAN AVE, SPRINGFIELD, Oregon

Price: $195,000.00

Beds: 3

Baths: 2

Sq Ft: 1439

Description: Charming home featuring a great floor plan with wood-lam floors, new carpet, fresh & tasteful paint & lots of windows for a light & bright kitchen, dining room and living room. Upstairs th ....

View this property >>



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Displaying blog entries 31-40 of 76

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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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