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80% of U.S. Home Buyers Searched For New Home Online

by Galand Haas

Hot weather has returned to the Eugene and Springfield area.  Hold on it could get near 100 degrees today.  Stay cool and enjoy!

It is true, over 80% of home buyers in the country began their home home search online last year.  This is a significant number and yet the majority of the Real Estate agents continue to market homes with traditional methods that do not tap into this huge pool of prospective home buyers.  Today's technology allows agents easy access to the internet, yet few have learned the secrets that will truly give them access to the home buying public.  As I look around the Eugene and Springfield market area I see very few agents marketing homes in any other way than the same methods that were employed a decade or more ago.  The fact is that the purchasing habits of the consumer have changed and yet the industry that feeds potential home buyers their information lags painfully behind.  This trend is certainly not going to change in the future.  In fact new technology with video, etc. is going to attract even more potential home buyers to the internet for their home search.

My suggestion here is that if you are going to be selling a home, do your research.  Find an agent who understands internet marketing and has taken the time to build the systems that will truly put your home in front of millions of potential buyers on the internet.  Don't be fooled by the fact that some agents will try to convince you that traditional home marketing methods still work.  The true fact is that the agent who can serve you best most likely is no longer using traditional marketing methods. The numbers tell the story.  With 80%+ of all home buyers finding homes on the internet, if you want to sell in this market you need an expert who knows precisely how to tap into this growing buyer pool.

THIS WEEKS HOT HOME LISTING

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1142 56th Street
Price: $155,000 Beds: 3.00 Baths: 1 Sq Ft: 1116
Very cute home with lots of updates including newer vinyl windows, newer oven with built-in microwave and newer counters. Inside also features a large living room, a space-efficient kitchen and well-separated family room with fireplace. All bedrooms...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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Galand Haas, Keller Williams Realty Eugene and Springfield
2644 Suzanne Way, Eugene OR 97408 
Direct: (541) 349-2620

Number of Americans With Negative Equity Drops!

by Galand Haas

A smaller percentage of U.S. homeowners were saddled with "underwater mortgages" in the second quarter as more homes entered the foreclosure process even as price declines slowed, real estate Web site Zillow.com said on Monday.

Fewer homeowners with so-called underwater mortgages, where the amount owed on the mortgage exceeds the home's value, is nevertheless a positive for the housing market as it could portend fewer defaults and foreclosures down the road.

The percentage of American single-family homes with mortgages in negative equity fell to 21.5 percent in the second quarter from 23.3 percent in the first quarter and 23 percent a year ago, according to the Zillow Real Estate Market Reports.

These underwater mortgages are one of the biggest banes of homeowners since negative quity makes many of them unqualified for home loan refinancing and prevents some from selling.

It is too soon to say for sure, but this could be the first indication that the national home foreclosure rate is going to start slowing down.  Another quarter of improvement will give us a better indication if this is an actual trend.

Have An Awesome Week!

 

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3511 RIVER POINTE DR
Price: $499,000 Beds: 4.00 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...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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Galand Haas, Keller Williams Realty Eugene and Springfield
2644 Suzanne Way, Eugene OR 97408 
Direct: (541) 349-2620

National Real Estate Experts Say Bottom is a Long Ways Away!

by Galand Haas

Good Monday Morning!

After a week at a national Real Estate conference in Nashville, it's great to be back in Eugene. Just visit that part of the country this time of year and it really makes you appreciate Eugene and Springfield.

The overall opinion of the national Real Estate experts at this conference was that we are not even near bottom yet as far as home prices are concerned.  Depending on where you are in the country, there could be 18 months to 3 years of decline yet to come.  I would think that in our local market area we may fall somewhere in the middle of all of that decline.  Needles to say though, another 10% to 15% decline in home prices in our market area is not out of the question. With that said, a healthy Real Estate market increases at a rate of 1% to 3% per year.  Don't be shocked if it takes another 5-8 years for our home prices to rebound to where we are today.

This is why I get so upset when I watch fellow Real Estate agents over price homes in this market. It's not hard to understand that every day a home sits on the market for sale right now, it's value declines.  By hitting the price to high, sellers lose value as their home sits on the market without selling.  When they adjust the price down the road, it is often not enough and it is always to a point that is lower than if they would have received good honest advice in the first place and priced their home with the market.  My caution here is that if you are going to sell a home in this market, do your home work and be cautious about the information you receive from your Real Estate agent.  Always make sure that you pick an agent that has a good track record during this current market.  If you have an agent tell you what you want to hear in regards to price and you follow this advice without research, you just might cost yourself many thousands of dollars.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING! 

 

 

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3114 Riverbend Avenue
Price: $334,000 Beds: 4.00 Baths: 2 Sq Ft: 2160
Beautiful, custom-built home w/ fantastic floor plan in quiet neighborhood. Featuring a vaulted living room w/ fireplace, open light & bright kitchen & dining area, huge, main-level master w/ bath w/ jet tub & WI closet & patio access, plus a large ...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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Galand Haas, Keller Williams Realty Eugene and Springfield
2644 Suzanne Way, Eugene OR 97408 
Direct: (541) 349-2620

Mortgage Interest Continue Their Decline

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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Closed Sales For Eugene/Springfield Homes Up

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!

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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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Galand Haas, Keller Williams Realty Eugene and Springfield
2644 Suzanne Way, Eugene OR 97408 
Direct: (541) 349-2620

Home Buyer Tax Incentives Will End

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!

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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

 

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!

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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

Stationery Footer
Galand Haas, Keller Williams Realty Eugene and Springfield
2644 Suzanne Way, Eugene OR 97408 
Direct: (541) 349-2620

Good Monday Morning!

Wow!  This weekend was a true taste of Summer!  We will take all that we can get.  

Congratulations to the University of Oregon Men's and Women's track teams for winning the Pac 10 championships over the weekend.

The statistics are in for the April 2010 Real Estate market in the Eugene and Springfield area.  April of 2010 saw closed sales increase by a whopping 67.6% over April of 2009.  Pending sales were also up and were 48.9% higher than the previous April.  New listings hitting the market were up as well and rose by 29.9%.  April closed sales were also up over March closed sales by 12.7%.  The inventory of homes on the market for sale stood at 7.3 months and this was down considerably from 10.5 months in April of 2009.  The Median home price continues to drop and was down by 4.2% from April of last year and now stands at $199,000.  The average time it now takes a home to sell is 109 days, which was down from 143 days in April of 2009.

The question now is, how much of this market upswing was created by the tax credits?  Now that the tax credits are gone, we will get an indication.  Low interest rates and continuing lower home prices are also adding to increased sales activity.

THIS WEEKS HOT HOME LISTING

 

 

 

 

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3114 Riverbend Avenue
Price: $389,000 Beds: 4 Baths: 2 Sq Ft: 2160
Beautiful, custom-built home w/ fantastic floor plan in quiet neighborhood. Featuring a vaulted living room w/ fireplace, open light & bright kitchen & dining area, huge, main-level master w/ bath w/ jet tub & WI closet & patio access, plus a large ...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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May 3, 2010 Foreclosed Home List for Eugene and Springfield

by Galand Haas

Here is your weekly updates list of foreclosed homes in the Eugene, Springfield and surrounding areas.  If you see any homes of interest and would like more information or wish to view a property, please contact me.

Foreclosed Homes. Click on the following link to download this week's list. 

Download Here

Sincerely,
Galand


Galand Haas, Keller Williams Realty
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A Gentler Market for Eugene and Springfield

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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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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