Real Estate Information Archive

Good Monday Morning!

Merry Christmas to all!  

One thing for sure is that events never sit still in the Real Estate world.  Over the past month, mortgage interest rates on both 30 year and 15 year financing have increased.  The increase has been about 1/2 of one percent.  Even with this, the rates are below where they were at this same time period last year and historically they remain extremely low.  With the increase though comes a potential slow down in home sales.  Increased rates mean that fewer people can qualify for financing and the higher rates also have a negative effect on consumer confidence.  The truth is that the higher rates will push home prices down even further and in most cases this will more than compensate for the slight increase in interest rates.  

Inflation or the fear of inflation may push rates even higher in the months ahead.  This would certainly have a negative effect on home sales and home inventories would build.  Pressure on home prices would be the immediate result.

If you are thinking of selling your home or have have a home on the market, your best bet is to cut to the chase and price your home to sell quickly before your homes value declines even further. Remember, that if you are buying on the other end of the transaction the home you are purchasing is going to have a lower value as well.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

29460 Awbrey Lane Price: $258,000 Beds: 3 Baths: 1 ∏ Baths: 1 Sq Ft: 1845 Seemingly ageless 1910 home that has been completely refurbished featuring an open floor plan w/ gorgeous wood floors, large modern kitchen, formal dining, family room & huge laundry/utility. Upstairs master along with guest beds. Outside offers spa... View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

Good Monday Morning!

It was quite a Civil War football game between the University of Oregon Ducks and the Oregon State Beavers.  The Ducks won this heated contest for the third year in a row and clinched their spot to play in in the National Championship game against Auburn University in Glendale Arizona on January 10.  Congratulations to the University of Oregon football team!

Recently several national indicators are showing that the decline in the housing industry nationally may be slowing.  Several companies that are industry watch dogs have indicated that the light at the end of the tunnel may be nearing.  What we will all need to do is to watch and see if these indicators remain positive and that a positive trend begins to develop.  Locally, the market continues to dip, but remember the Eugene and Springfield area was late to have the negative market take hold.  This could mean that we may stay in the down turn a bit longer than other parts of the country.  Any positive news is good news at this point and we can only hope that the first quarter of 2011 shows continued signs of growth in the housing market.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

29460 Awbrey Lane Price: $258,000 Beds: 3 Baths: 1 ∏ Baths: 1 Sq Ft: 1845 Seemingly ageless 1910 home that has been completely refurbished featuring an open floor plan w/ gorgeous wood floors, large modern kitchen, formal dining, family room & huge laundry/utility. Upstairs master along with guest beds. Outside offers spa... View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

Good Monday Morning!

Many business's have been touched by the slow down in both the national and local economies. Not that it should be of surprise to anyone, but the Real Estate sales industry has been severely effected by the recession.  Locally, we had just under 1,200 Real Estate agents in the Eugene and Springfield market area just 3 years ago.  Today that number of local agents has dropped to just over 700.  This is a decline of about 500 Real Estate agents in our local market area, which is a significant decline in a period of only 3 years.  Not only has the number of agents dropped, but the production level of the majority of agents has plummeted as well.  Today the top ten agents in this market area are doing sales numbers similar to that of 3 years ago and the balance of well over 600 agents below them are doing significantly less business.  When I look at the bottom 200 agents in sales production for this area, most have two or fewer sales for the year.  This would indicate that we are just about to see another large decline in Real Estate Agent numbers for the Eugene and Springfield market area.

The reason that I bring this up is to remind the public that there is a huge difference between agents in this market place.  When you are choosing an agent to represent your best interests in selling or purchasing a home, you need to do your research and make sure that the agent you choose is one of the top area agents.  I would suggest not less than being in the top 20% of all agents.  You need to ask for sales numbers and for statistics as to how they compare with other agents.  Just checking this out can make a huge difference in who you choose to represent you and reflect this in dollars and cents in your pocket.  

I am happy to say that the Galand Haas Team maintains a position in the top three of all real Estate sales in Lane County as it has for over 15 years.  There is a reason for this and it starts with customer satisfaction.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

1499 Larkspur Avenue Price: $180,000 Beds: 3 Baths: 1 ∏ Baths: 1 Sq Ft: 960 Charming, ranch-style home with modern feel and centrally located. Featuring rich hardwood floors, newer roof, countertops and vinyl windows. Other special features include a cozy living rm with wood-burning fireplace, a large bath, laundry area & c... View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

Good Monday Morning!

Summer has returned for another round and it looks like a gorgeous Indian Summer week ahead of us.  Just keep it coming!

It appears that most  Americans now have credit scores that are too low for them to qualify for the lowest rates on a mortgage loan, and nearly one in three are unlikely to get a loan on any terms, according to an analysis by Zillow.

Zillow analyzed 25,000 loan quotes and requests on the Zillow Mortgage Marketplace during the first half of September, and found borrowers were unlikely to receive even one loan quote if they had a credit score of below 620 -- even if they offered to make large downpayments of 15 to 25 percent.

An even more concerning fact is that most Americans are not able to take advantage of the low mortgage interest rates for a home refinance either.  The fact is that with home values declining as far as they have, far too many homeowners just do not have the equity position to be able to qualify for a refinance.  What a shame with rates continuing to hold at historical low rates.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

1110 Jayne Street Price: $225,000 Beds: 3 Baths: 2 Sq Ft: 1458 Beautifully well-kept 1-level home with excellent improvements on large, lot tucked away at the end of a private drive. Inside offers a great floor plan with large kitchen & pantry, well-lit dining area, welcoming living room with ceiling fans, newl... View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

Good Monday Morning!

The statistics are in for home sales in the Eugene and Springfield area for the month of August 2010.  Although there was little change from July, the market trend remains sluggish and an overall trend of decline remains. When comparing market activity in the Greater Lane County area in August 2010 with August 2009, closed sales fell 6.8%. Pending sales declined 13.9%, and new listings were down 1.5%. A comparison of August 2010 with July 2010 shows that closed sales increased 12.7% (248 v. 220). Pending sales grew by 4.3% (292 v. 280), while new listings decreased 15% (576 v. 678). At the month’s rate of sales, the 2,643 active residential properties would last 10.7 months.

When comparing August 2010 to August 2009, the average sale price decreased 1.7%, while the median sale price went up by 3.8%. On a month-to-month basis, when comparing August 2010 to the month prior, July 2010, average sale price went down 0.5% ($224,300 v. $225,500) Median sale price grew 1.5% ($206,800 v. $203,800) compared to July 2010. Month-to-month, the changes in average and median sale prices were slight.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

85770 Loop Lane Price: $250,000 Beds: 3 Baths: 1 Sq Ft: 1705 Very nicely updated home including brand new roof, vinyl windows, 100% Alder cabinets, Hardie plank siding, granite countertops, new appliances, new carpet, fresh paint, gorgeous fixtures on large lot w/ great landscaping in front. W/ a cute deck, f... View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

Good Monday Morning!

This years Civil War football game takes place this coming Saturday between the University of Oregon Ducks and the Oregon State Beavers in Corvallis.  Never has this game meant more.  A win by the Ducks most likely puts them into the National Championship game and a win by the Beavers makes them bowl eligible.  It should be fun!!!!

Each year I see a large number of home inspections and as a result I also see problems that occur over and over again.  Many of the problems I see can be easily remedied with a little bit of precaution.  One problem that is very frequent in our area is that of moisture under homes.  Our local climate leads to moisture problems under homes and in many cases standing water may exist for parts of the year.  Home inspectors do not want to see any water under under homes, but most builders will disagree with this as long as the home has adequate ventilation underneath. Far too many times I see homeowners who block their foundation vents during the winter months thinking they are saving on heating bills.  This practice is actually very harmful and one that you do not want to do.  Maintaining adequate air flow under your home is extremely important, especially during the wet months of Fall, Winter and Spring.  By blocking air flow you will trap water vapor under the home and make the perfect climate for mold to grow and for dry rot to take hold.  Sealing the crawl space from ventilation can also trap other harmful gases such as radon.  So, if you have been thinking about blocking those foundation vents, think again.  

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

2362 Sony Loop Price: $219,000 Beds: 3 Baths: 2 Sq Ft: 1557 Immaculate home with fun floor plan in wonderful neighborhood. Featuring a light & bright kitchen with eat bar, open dining area, large vaulted living room with slider to deck & backyard. Each bedroom is nicely sized, fresh paint & great storage. Th... View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

Good Monday Morning!

Is there some snow on the horizon for the Eugene and Springfield area?  The weatherman is saying yes. Bundle up this week!

The Real Estate statistics are now in for the Eugene and Springfield area during the month of October.  The news remains the same with the overall market continuing it's long term slump. Closed sales of homes fell 33.4% from October of 2009, with pending sales declining by 22.4% and new home listings falling 18.7% for that same period.  

October 2010 numbers were also off from those in September with a decline in closed sales of 11.4%, pending sales were actually up by 6.2% and new listings were down by 9.3% from the previous month.

There is currently 10.8 months of active home inventory on the market.  Remember, 6 months of inventory is the dividing point for a sellers and buyers market.  We clearly remain in a strong buyers market.

The average sales price of homes in the Eugene and Springfield area continues with it's long decline as the average sales price of a home declined by 6.6% from October of 2009 and dropped 6.9% from September of this year.  The average home price now sits at $202.900.

The bright spot is that mortgage interest rates remain extremely low, even though we saw a slight increase over the past week.  If you are going to purchase a home this may be your best opportunity with home prices at a new low and interest rates now threatening to jump.  My advice is don't wait any longer.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

2362 Sony Loop Price: $219,000 Beds: 3 Baths: 2 Sq Ft: 1557 Immaculate home with fun floor plan in wonderful neighborhood. Featuring a light & bright kitchen with eat bar, open dining area, large vaulted living room with slider to deck & backyard. Each bedroom is nicely sized, fresh paint & great storage. Th... View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

Good Monday Morning!

Congratulations to the University of Oregon Duck football team for yet another milestone and their new #1 ranking in the BCS Poll. The Ducks are now #1 nationally in all polls.  

One of the questions that I hear on a daily basis is, "should I sell my home now?"  This is a question that of course varies significantly from person to person, but here are some things to consider if you are contemplating the sale of your existing residence.

1. Your home has lost value over the past several years, this is a known fact.  Your home most likely lose even more value over the next one to two years and it may be as many as 5-7 years before you reach back to the value that your home has today.  If you don't need to sell and you can wait this out, then maybe selling today is not best for you.

2. If you are selling and buying again in the same area, you are trading apples for apples.  In fact if you are upgrading to a larger more expensive home, chances are that the new home you are buying has taken a larger price hit than the one you are selling.  

3. Mortgage interest rates remain at historic lows.  This means that if you sell and buy again in this market then you can take advantage of these low rates. They won't hang around forever.

4. Long term, home ownership remains a great investment.  In these times of economic chaos there are few places that you can place your investment dollars that will have the security and the long term return.  

5. If you are selling in one market and moving to another, there is a chance that the market you are moving to may have taken a larger price hit than the one you are leaving.  This is something worth checking into, because many major Real Estate market areas have taken huge hits on home prices and it just might be a situation that you can easily take advantage of.

The decision to sell a home in this market is a large one for most people, but there are some advantages for many people that they may never see again.  If you are considering the sale of your home and would like some professional advice, please contact me.  I would be more than happy to go over the plus's and minus's of your particular situation with you.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

5950 Barger Drive Price: $310,000 Beds: 3 Baths: 2 Sq Ft: 3222 Wonderful, spacious house with attached studio/office with potential separate living area. Huge living room with fireplace, fantastic dining area, large kitchen, a light & bright upstairs master, large bonus, utility room, covered porch, beautifully... View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand