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October 2010 Real Estate statistics for Eugene and Springfield

Monday, November 1, 2010
by Galand Haas

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!

Image Unavailable
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...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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Should I Sell My Home Now?

Monday, October 25, 2010
by Galand Haas

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!

Image Unavailable
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...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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U.S. Homes Sales Decline 27% in July!

Tuesday, August 31, 2010
by Galand Haas

Our weather has certainly made a sudden change.  Not to say that a little rain is not a welcome site, it is hard to have the sun leave us even if it is just for a few days.

With sharp drops in sales of existing and new homes being broadcast in the newspaper and leading the nightly newscasts, it's it’s hard to keep a positive perspective about the housing market.

A surprising 27 percent decline in resales from June to July, and a 12 percent drop in sales of newly-built houses during the same period have done very little to build consumer confidence in the market.

Even with this news there are some positive things starting to happen in the national housing market. Housing affordability is at or near an all time high.  This has been created by the lower home prices and mortgage interest rates for thirty year fixed mortgages in the mid 4% range.  Right now 72 .3 percent of median-income American families can now afford to buy the median-priced house. Historically that number has stayed in the low 60 percent range, and sometimes slipped below 50 percent.  But the problem remains that even with the affordability factor being so great, consumers are holding back.  The overall lack of confidence is the reason and the employment figures just fuel the lack of confidence.  Look for a sharp rebound in the market when employment numbers begin increase and buyer confidence returns. 

We were all warned that there would be a sharp drop off in home sales following the tax credit.  We are witnessing what was predicted.  The good news is that the lull could be short lived.

Have an Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
3835 E Street
Price: $139,900 Beds: 3.00 Baths: 1 Sq Ft: 1200
Wonderfully updated home with Hardie-plank siding, granite countertops, new appliances, new carpet, fresh paint, and new fixtures. W/ a vaulted living room, light & bright kitchen and dining room set on a fun floor plan, a welcoming front porch, gre...



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
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July Statistics show The Eugene and Springfield Housing Market Hits the Skids!

Tuesday, August 31, 2010
by Galand Haas

Good Monday Morning!

The statistics are here for the July 2010 Eugene and Springfield area Real Estate market and as expected our local market took a sharp down turn.  Closed sales were down by 33.7% from July of 2009 and were also down by 34.3% from June of this year.  Pending sales were down by 17.4% from last year and new listings were up 8.1% from last year.  There was 11.9 months of active inventory for July of this year, which is up considerably from July of 2009 when it was 6.2% and from June of this year when it was 7.2%. The average home price fell slightly and stands at $225,000.

These numbers are not surprising due to the fact that the buyer tax credit sucked home buyers out of the future and left a vacuum of buyers after it ended.  The fact is that with mortgage interest rates at historic lows and with lower homes prices and higher inventory those who bought during the tax credit most likely would have been better served to have waited and purchased now.  Of course, if interest rates hold steady and home prices continue to fall, there will be even better purchase opportunities in the months ahead.  

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
3835 E Street
Price: $139,900 Beds: 3.00 Baths: 1 Sq Ft: 1200
Wonderfully updated home with Hardie-plank siding, granite countertops, new appliances, new carpet, fresh paint, and new fixtures. W/ a vaulted living room, light & bright kitchen and dining room set on a fun floor plan, a welcoming front porch, gre...



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

Tuesday, August 31, 2010
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

Image Unavailable
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
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Number of Americans With Negative Equity Drops!

Tuesday, August 31, 2010
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!

 

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

Tuesday, August 31, 2010
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! 

 

 

Image Unavailable
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
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Home Sales Numbers for Eugene and Springfield May 2010

Sunday, July 25, 2010
by Galand Haas

Good Monday Morning!

The statistics are in for home sale activity for the Eugene and Springfield area for the month of June 2010.  It is not surprising that home sales posted a gain over the same period in 2009.  Sales were up a whopping 14.3% over last June.  Pending sales also saw an increase and jumped by 22.2% over June of 2009.  At the same time new listings increased as well and were up by 7.7% with the overall home inventory remaining exactly the same as May of 2010 at 7.2 month of active inventory.  Also, closed sales in June were up over May of this year by 4.7%.  The median home price continues its decline and was down by 3.1% over June of 2009.

These numbers are not shocking as we watched homebuyers scurry to get their home sales completed before the tax credit deadline at the end of June.  The tax credit close date has been extended, but it was a last minute gesture.  My take on the current market is that we are now witnessing a sharp decline in sales following the tax credit offering.  Whether we see any kind of rebound or not in the near future is hard to determine.  

Look for an overall trend of slower home sales in all price ranges and a continuation of the decline in home prices.  This overall trend could continue for another 18 months to two years.  Look for home inventories to go on the rise again putting even further pressure on home prices.  Upper end home sales continue to lag well behind the sub $200,000 market and this trend will most likely continue as well.  Appraisals continue to be a problem.  This is common in a market with declining home prices and it puts an additional strain on values.

The bright spot is the fact that mortgage interest rates continue to be at historic low levels.  This trend should continue into the near future as well.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
29460 Awbrey Lane
Price: $299,000 Beds: 3.00 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...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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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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Closed Sales For Eugene/Springfield Homes Up

Tuesday, July 13, 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

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