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Market Slow Down Continues

Sunday, January 24, 2010
by Galand Haas

Good Monday Morning!

 

The long Thanksgiving Holiday has passed and now it is time to prepare for Christmas. It is coming fast.

 

We have watched a slow down in the number of homes hitting the market for sale as of the past 30 days.  This is a trend that most likely will continue for a while.  Most of the homes hitting the market now are those who are forced to sell.  As we see the numbers of foreclosures and short sales climb, this trend may continue for months or even a year or so before we see significant changes. 

 

The number of people who may be directly effected by the ARM loan rollovers is going to jump significantly over the next 12 to 18 months.  If you or anyone you know is going to have to deal with this and may reach a home payment that you cannot make, there is help.  The last thing you or anyone you know wants to deal with is a foreclosure which can severely cripple your credit for many years.  If you or anyone you know would like information on alternatives to foreclosure, visit the web site www.shortsaleeugene.com.

 

Have An Awesome Week!

 

THIS WEEKS HOT HOME LISTING!

 

 

 

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325 MACKIN AVE
Price: $250,000 Beds: 3 Baths: 2 Sq Ft: 2060
Great home with great floor plan in quiet neighborhood featuring lush lawns, relaxing porch, a light & bright entrance, spacious living room with gas fireplace, main-level master suite with walk-in closet & large private bath, a storage-efficient ki...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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Home Inventories Decline

Sunday, January 24, 2010
by Galand Haas

Good Monday Morning!

 

Congratulations to both the University of Oregon Ducks and the Oregon State University Beavers.  Both teams won their football games on Saturday and will now square off on December 3 to battle each other for the Pac 10 championship and the Rose Bowl game.  It's exciting stuff for the state of Oregon.

The inventory of homes for sale in the sub $250,000 range continues to decline.  This price range is where the buyer activity has been and currently is.  There just are not enough homes in this price range to meet demand at this time.  Many of the homes that are on the market in this price range are also either bank owned properties or with sellers needing to do short sales.  For sellers who have homes in this price range it is good news as the market has changed to being a sellers market in these lower price ranges.

The market remains sluggish over $300,000 and is almost non-existant when you get to the $700,000 range and above.  Don't look for any changes in the upper end housing market soon.  In fact this market will continue to be extremely soft and values may continue to decline for another year or two.  If you are going to need to sell a in the upper end price ranges, you are better off to do it now than to have the false expectation that waiting until Spring may bring a better market and higher sale price for your home.  Just the opposite will most likely be true.  

Remember, if you are interested in knowing your homes current market value you can log onto the web site www.forhomesellers-nonSmartZip.com and get a FREE approximate home value analysis by e-mail.  (Service only good for Lane County, Oregon).

 

Have An Awesome Week!

 

 

THIS WEEKS HOT HOME LISTING!

 

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39640 DEERHORN RD
Price: $365,000 Beds: 3 Baths: 1 Sq Ft: 1652
Classy country home on acreage with park-like setting in the Mckenzie River Valley featuring hardwood floors, spacious living room with fireplace, large dining room & kitchen with laundry access. Large bedrooms & lots of storage. Master bed includes...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

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Selling a Home Can Be Challenging

Thursday, November 5, 2009
by Galand Haas

Good Monday Morning!

It looks like more scorching heat on it's way to the Eugene and Springfield area.  It will be a good week to visit the Coast, the lake, river or nearby pool.

Selling a homne can be challenging during our current Real Estate market.  The truth is that many homes are selling during this market and the ones that are selling have one thing in common.  They are priced correctly for this market.  Home sellers expectations for the price that their home is going to sell at can be quite different than the reality of what this current buyers market dictates.  The key element right now is to actaully price the home at a level below what the comparable sales indicate.  The is especially true if the comparable sales are several months old.  Not only has the overall market declined in price over the last several months but it is declinging now.  If the average time to sell a home right now is 120 days then we have to look at where we feel the market is going to be in 120 and price the home accordingly.  This strategy will get the home sold and believe it or not help the seller will get top market price for their home. 

One thing to remember is that if you are selling and buying another home in this area, you make be taking a perceived hit on your homes sales price but the home you purchase will be taking an equal or larger hit. It is an extremely good time to sell if you are a move up buyer! Please contact me if you would like to get an honest opinion on your homes current market value or log onto www.forhomesellers-nonSmartZip.com for a look at your homes market value sent to you by e-mail.

Have An Awesome Week!  (Stay cool!)

THIS WEEKS HOT HOME LISTING!

Have An Awesome week!

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1064 QUINALT ST, SPRINGFIELD, Oregon

Price: $140,000.00

Beds: 3

Baths: 1

Sq Ft: 1342

Description: This is a great one-level home with a very fun, open floor plan. It features a great living room, kitchen and dining room and don’t miss the huge utility/hobby room! Outside you’ll enjoy a ....

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Unusual Housing Market in Lane County

Thursday, November 5, 2009
by Galand Haas

Good Monday Morning!

The statistics are in for home sales in the Eugene and Springfield area for the month of June.  The numbers are interesting and they indicate a very unusual home market here.  There is currently 6.8 months of active inventory of homes for sale on the market.  This is substantially down from 20.6 months of inventory in January of this year.  Remember, 6 months of active inventory is the middle of the road between a buyers market and a sellers market.  The average time that it currenty takes a home to sell is 124 days and this is up considerabley from the 81 days it took a home to sell last June.  The number of closed sales was off by 7% in comparison to June of last year and new listings were off by 22% compared to June of last year.  The average sales price also was down by 7.3 % from the same time period in 2008.  Our average sales price is now $228,500, which is down from last year as well.

These numbers indicate a continuation of our slowing Real Estate Market.  The only significant change in the market is that the inventory of homes for sale way down.  This indicates that home owners are becoming very reluctant to enter this market.  The majority of the homes for sale are those that are having to sale and not those electing to sell.  The market remains very attractive for buyers with 30 year mortgage interest rates now sub 5%.  There are just a few less homes for them to chose from. For sellers the market is tough, but there is certainy less competition and this has brought about quick sales for those who price with the market.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

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3656 PLUMTREE DR, EUGENE, Oregon

Price: $185,000.00

Beds: 3

Baths: 2

Sq Ft: 1229

Description: Very cute home in quiet neighborhood, with a great floor plan that shows off a spacious living room with fireplace, cute dining area & kitchen, lots of hall storage, 3 great bedrooms and 2 full ba ....

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Thursday, November 5, 2009
by Galand Haas

Good Monday Morning!

Wow!  Mother nature put on her own fireworks display Sunday with a rare lightning storm in the Eugene and Springfield area. It was quite a show.

Home values in our area continue to slide downwards.  Even though the rate of decline has slowed, homes in the Eugene and Springfield are generally worth much less than they were at the peak of the market back in 20006.  It is difficult to say if we will continue the decline in home values here or if we will plateau and then begin a slow increase again in a year or two.  Much of the answer here rests with what happens with both mortgage interest rates and the local economy.  At this point I will go out on a limb and speculate that we will continue to lose home value here for another 6 to 12 months.  The amount of that decrease will depend on the factors mentioned previously.  For that reason the selling of your home right now may be a decision that you really want to weigh out.  If you would like help with that process, I would be more than happy to consult with you and help you analyze the situation.  Just like selling stocks or other investments it is wise to seek professional help to determine your best options.

You can also receive a detailed look at your homes current value by visiting the web site www.forhomesellers-nonSmartZip.com.  At this site you can enter in details about your home and then a complete value analysis will be e-mailed to you.  You will also receive updated value reports on your home by e-mail each month.  This is free and it is a great way to keep in touch with the local housing market and with the value of your home.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

 

 

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3656 PLUMTREE DR, EUGENE, Oregon

Price: $185,000.00

Beds: 3

Baths: 2

Sq Ft: 1229

Description: Very cute home in quiet neighborhood, with great floor plan that shows off a spacious living room with fireplace, cute dining area & kitchen, lots of hall storage, 3 great bedrooms and 2 full bath ....

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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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!

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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 ....

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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New Home Construction Down

Thursday, November 5, 2009
by Galand Haas

Good Monday Morning!

It looks like we are finally back to some Summer weather.  What a gorgeous weekend we had!

One of the victims of our local housing slump has been new home construction.  For well over a year there has been almost a complete shut down with the construction of new homes in our area.  There are also brand new homes that were built up to two years ago remaining on the market for sale.  This is bad news for builders and great news for home buyers.  Recently, I have watched several of these new homes sell for far below the price that they originally hit the market at many months ago.  If you are in the market for a new home, you may never find a better opportunity to buy a new home than right now.  There are new homes available in most areas of the Eugene and Springfield area in a variety of price ranges.  If you are interested don't wait, buyers are starting to discover these homes and they are selling. 

If you would like a list of new homes that are currently on the market, please get in touch and I can e-mail you this list.

Have An Awesome week!

THIS WEEKS NEW HOME LISTING!

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88616 MCKENZIE ACRES DR, SPRINGFIELD, Oregon

Price: $1,500,000.00

Beds: 4

Baths: 4

Sq Ft: 5138

Description: A stunning estate, w/ amazing view of valley & mtns. & custom in every detail, features a lg. living room w/ stone fireplace & tall windows, a gourmet kitchen w/ built-in pantry & brea ....

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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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!

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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 ....

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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New Life In The Eugene Real Estate Market

Thursday, November 5, 2009
by Galand Haas

Good Monday Morning!

The rain showers stayed away long enough for all of the graduation activities this weekend.  Congratulations to all of the graduates of 2009.

The Real Estate Market in the Eugene and Springfield area continues to breath new life.  Even as mortgage interestst rates jump up and down, sales seem to be better and buyer interest in homes is certainly improved over 1st quarter.  Look for mortgage interest rates to be up and down for the next few weeks.  Savvy home buyers are watching the rates and locking their loans as the rates hit low points.  The combination of being able to continue to realize low mortgage rates along with extremely affordable home prices should keep activity strong for the near future.

One word of caution is that mortgage loans have attractive rates right now, but getting your loan closed could present some challenges.  Right now it is more important than ever to choose a professional loan officer with a great track record.  Having a professional who know how to deal with this current market can save you both time and money.  If you would like a list of exceptional local lenders, please contact me and I can provide you with a list.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

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4174 TORRINGTON AVE, EUGENE, Oregon

Price: $240,000.00

Beds: 3

Baths: 2

Sq Ft: 1302

Description: Great home in quiet cul-de-sac with modern, open floor plan featuring a spacious living room with vaulted ceiling & fireplace, open kitchen with low wall & skylight, good-sized utility/laundry ....

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Mortgage Rates Tick Up

Thursday, November 5, 2009
by Galand Haas

Good Monday Morning!

Eugene (Track City USA) was back in the national lights again this weekend with the Pre Classic track meet.  It was a fantastic event again.

With mortgage rates ticking up slightly it seems to have temporarily cooled our local market some.  Just as we were experiencing a nice surge with home sales the rates began to change slightly. It is too early to say whether this is a trend or if it is just a short and quick jump upwards before dropping again.  If the interest rate trend continues to climb, look for another cooling off period in the market.  This is good reason to take action quickly if you are considering buying or selling a home.

During this shifting Real Estate market all of our home values have changed.  If you would like to get a good idea of your homes current market value and then be updated monthly so that you always are in the know of what your homes value is doing and what's taking place with home values and sales in your neighborhood just log onto www.eugeneoregonhomesforsale.com/market.  Our new state of the art site will furnish you with detailed information on your home and other homes like your in your neighborhood with photos, graphs and complete data this is one resource you will love. The great thing is that once you sign up and set your profile the rest is automated and new information will automatically be sent to your e-mail in box every month.

Have An Awesome WeeK!

THIS WEEKS HOT HOME LISTING!

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1722 RUSSET DR, Eugene, Oregon

Price: $385,000.00

Beds: 4

Baths: 3

Sq Ft: 2272

Description: A classy home with parklike setting featuring a spacious, carpeted, living room, formal dining w/ rich hardwood, a family room w/ fireplace, a great kitchen w/ tile flrs., island, pantry & lots of ....

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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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