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Good Monday Morning!

The following article from "Realty Times", gives a great perspective on our current national Real Estate market.

Since 2011, home prices have gained in the double digits, making a price plateau inevitable. But are we really entering a bear housing market? Not if we look at long-term fundamentals. Rising prices allowed distressed properties to sell, allowing the nation to work through huge oversupplies. Investors were on board until prices returned to normal in many markets.  

Case-Shiller economist Dr. David Stiff explains, "Non-investor demand, although increasing, will not replace demand from investors."

Since housing is far more affordable now than it was in 2006, there is less concern that a new housing bubble will occur, Stiff said in a recent statement. Consider this. As of Q3 2013, the ratio of the median monthly mortgage payment to the median monthly family income was 35 percent lower than it was in Q1 2006 - a 40-year low.  Affordability comes strongly into play when inflation is taken into consideration. It's said that historically, home values beat inflation by approximately one to two percent annually.

In the last ten years, inflation has grown by about 2.4 percent annually, while home prices lost nearly half their value. During the housing recovery, double-digit home price increases handily beat tepid inflation.  According to the U.S. Labor Department, inflation rose 1.5 percent in 2013, while home prices were up 11 percent, says CoreLogic.  In Q3 2013, home prices were 17 percent above the lows reached in Q4 2011 and 23 percent below the peaks reached in Q1 2006. Price appreciation is expected to throttle back to 4.2 percent in 2014, according to CoreLogic's Case-Shiller Index.

While it appears a bear market for housing could be forming, prices are still gaining close to the long-term average of 4.5% since 1975.

As for inflation? Kiplinger's predicts a 2.7 percent gain for 2014, making housing an excellent hedge.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

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920 SUMMIT BLVD
Price: $295,000 Beds: 3 Baths: 3 Sq Ft: 2851
Hilltop Haven w/ Impressive Views! Perfect for entertaining w/ valley & mountain views, 4 decks, 3 sliders, hot tub, wet bar w/ sink & eating bar, & great rm w/ fp! Large viewing window in living rm, kitchen w/ large eating bar, dining area w/ slide...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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How is the national Real Estate Market doing?

by Galand Haas

Good Monday Morning!

Here is a recent article from Real Estate Today that gives us a current perspective on the national Real Estate Market.

Lawrence Yun, NAR chief economist, explained, “Existing-home sales have risen nearly 20 percent since 2011, with job growth, record low mortgage interest rates and a large pent-up demand driving the market. Just when it seemed that home sales were taking a breather, new data from the National Association of REALTORS® (NAR) says that home sales in 2013 were the highest since 2006, well before the housing meltdown.

For all of 2013, housing sales totaled 5.09 million units, which is 9.1 percent higher than in 2012.

Yun says some momentum was lost toward the end of 2013 from disappointing job growth and limited inventory, but the year ended close to normal given the size of the population.

The national median existing-home price for all of 2013 was $197,100, which is 11.5 percent above the 2012 median of $176,800. That's the strongest gain since 2005 when prices rose 12.4 percent.

One bright spot was the decline of distressed homes in the mix. Foreclosures and short sales were 14 percent of December 2013 sales, down from 24 percent the year before.

Total housing inventory at the end of December fell 9.3 percent to 1.86 million existing homes on the market, a 4.6-month supply at the current sales pace.

Homes took longer to sell in December from November, but less time than in 2012.

The NAR suggests that home buyers and sellers face a few challenges in 2014. Mortgage rates are expected to continue to rise, and lenders and borrowers face new mortgage rules, such as new Qualified Mortgage underwriting standards.

But there's still plenty of pent-up demand, with more young adults moving out of their parents' home and into their own homes. The key is job growth, says the NAR. Only the confidence that stems from job security can enable first time buyers to buy and move-up buyers to purchase their next homes.

Fortunately, a new report by the U.S. Conference of Mayors suggests that nearly all U.S. cities are forecast to see economic growth this year, including some cities that have not really recovered from the Great Recession.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

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46121 GOODPASTURE RD
Price: $425,000 Beds: 4 Baths: 3 Sq Ft: 3407
Beautiful, secluded, custom home on the banks of the McKenzie River, featuring a 32ft vaulted ceiling, 2 fireplaces, heated floors, skylights & gorgeous deck. Downstairs offers a lg kitchen with hickory cabs, stainless steel appliances, huge living ...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Freddie Mac survey

by Galand Haas

Freddie Mac released the results of its Primary Mortgage Market Survey (PMMS) today. The study showed that mortgage rates moved higher from the previous week's record lows as Treasury bond yields also moved higher and other housing data showed some signs of improvement. However, the 5-year ARM did decline to 3.07 percent thereby setting a new all-time record low.

Mortgage rates have been following this trend of up slightly, down slightly for months.  Don't look for any large changes soon as the Fed has committed to keeping rates low for near future anyway.  

The affordability factor for a home purchase is going to remain fantastic as home prices continue to trend downwards in the Eugene and Springfield market and mortgage interest rates remain at or near historic low levels.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

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29296 McTavish Ln
Price: $675,000 Beds: 2 Baths: 2 Sq Ft: 2013
Amazing log cabin with classy appeal. Private, paved driveway leads to the carport. Great room offers stone fireplace & wonderful view of the valley with windows to exposed wooded beams. Adorable kitchen with island. Master suite offers amazing view...



AND HERE'S YOUR MONDAY MORNING COFFEE!!

Sincerely,
Galand

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Closes Sales Trend Up In Eugene and Springfield

by Galand Haas

Good Monday Morning!

Yeah!  The sun is out!!!!

The new numbers are in for the Eugene and Springfield area Real Estate Market.  There is good news and bad news.  The good news is that sales activity improved from the dismal numbers we saw in January and February of this year.  The bad news is that March of 2011 was off significantly from March of 2010.  Closed sales were down 17.5% from March of 2010, pending sales were off by 30.9% and new listings decreased by 33.8%.  

The number of closed sales finally took a jump over the two previous months.  January saw 160 closed sales in Lane County and February saw 167 closed sales.  There were 227 closed sales in March, which is very good news.

There are currently 1,943 residential properties on the market and this adds up to 8.6 months of active inventory.  The amount of active inventory has been shrinking over the past several months.  The average sales price of a home continues to slide and it was 9.9% less than in March of 2010. The average time on the market for a residential property is 152 days.

Have An Awesome Week!

THIS WEEKS HOT NEW HOME LISTING!

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1336 Tamarack St
Price: $180,000 Beds: 4 Baths: 2 Sq Ft: 1471
Wonderfully updated home with huge backyard. On quiet street close to park and schools. Features light and bright living room with brick fireplace, well-sized bedrooms, updated baths, master suite with walk-in closet. 4th bed could be an office. New...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

Considering Listing Your Home?

by Galand Haas
VideoVideo

If you are considering putting your home on the market then watch this short video.  It could help you get more money for your home and keep expenses down!

Have An Awesome Week!

 


Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-In-Real-Estate-US-May-2011

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2665 Cumberland Drive
Price: $500,000 Beds: 3 Baths: 2 Partial Baths: 1 Sq Ft: 2871
Custom luxury home in Hawthorne Estates offers many luxury features: central vacuum system, central sound system, built-in alarm system, garage has above ground storage, the office has built-in cabinets and french doors, dining room offers built-in ...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

National Home Sales Tick Up!

by Galand Haas

Good Monday Morning!

Finally, some good news from the National Association of Realtors.  Nationally, home sales were up 3.7 percent for the month of April.  This is extremely good news because of the fact that homes sales had been on a long term skid downwards.  NAR is not predicting a 5% to 10% increase in homes sales nationally this year.  

The Real Estate market both nationally and locally can be affected by consumer confidence.  Anytime positive information comes about it has a significant impact in this market.  Many times good news brings about even more good news.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
86040 Cherokee Drive
Price: $775,000 Beds: 6 Baths: 4 ∏ Baths: 1 Sq Ft: 4300
Gorgeous, secluded rolling hills setting in Cherokee Hills. Heart of wine country. Open beam ceilings, brick fireplace, 2 master suites. All brand new. Tudor Style home with 4 car garage. Just minutes from town....



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

VideoVideo

Good Monday Morning!

Real Estate sales in the Eugene and Springfield area continue to slump.  January saw 160 closed Real estate transactions in Lane County and February saw 161 closed sales.  This is an extremely low number in comparison to a normal market.  Just think, there are over 700 Real Estate Agents in the Eugene and Springfield area.  This low number of home sales is putting much more pressure on home prices, so as a result look for home values to continue their decline.

This is not such great news for home sellers, but for home buyers it means that there are some great opportunities in this market.  There are also more Foreclosure properties hitting the market and these also offer some potential for a great deal on a home.  If you would like to receive a weekly list of Foreclosure and Bank Owned homes by e-mail just visit the web site www.eugenebankowned.com.  By registering at this site you will receive a weekly list of the most recent homes to hit the foreclosure list.

Have An Awesome Week!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-in-Real-Estate-US-March-2010



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

New Home Construction Hits Low

by Galand Haas

Good Monday Morning!

One of the largest changes we see in the Eugene and Springfield area and for the most part across the country is the lack of new home construction.  Just a few short years ago new home were springing up everywhere in this area throughout most of the country.  Now it is an unusual site to see a home under construction. The home building industry nationally remains in the doldrums with little change in site.  The high cost of new construction in comparison to existing home costs, the competition of the foreclosure and short sale homes and difficulty in finding financing have taken their toll on the building industry.  Also, overbuilding in some areas has had an enormous impact.

Many economists feel that there will not be a true rebound in our national economy until the home building industry is healthy again.  There are just so many other industries that spin off from home building.  Needless to say, there is also a home deficit beginning to take place in many areas from the lack of homes being produced for a number of years now.  

The first sign of a return to a healthy Real Estate market will be the appearance of new homes under construction again. As existing home inventories reduce over the next few years and pent up demand picks up steam, this familiar scene will once again be present.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
1336 Tamarack St
Price: $180,000 Beds: 4 Baths: 2 Sq Ft: 1471
Wonderfully updated home with huge backyard. On quiet street close to park and schools. Features light and bright living room with brick fireplace, well-sized bedrooms, updated baths, master suite with walk-in closet. 4th bed could be an office. New...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

Smart Phones and Real Estate

by Galand Haas

Good Monday Morning!

It has certainly become the age of the Smartphone.  A recent national survey indicates that the use of Smartphone's has increased dramatically over the past several years and that all indications are the this trend will continue and even pick up steam.  Both personal and business Smartphone use is skyrocketing.  As this takes place  providers of Smartphone"s are scurrying to secure market share. Along with this thousands of business's are also working hard to develop apps for their services and products that can be used on the Smartphone devices.  This is a billion dollar industry that really is in it's infancy.  Not to be left out, the Real Estate industry is joining in with a variety of apps offered by many company's that help consumers locate homes for sale and receive helpful information for both home buyers and sellers.  There are many great apps available today and look for many more in the days ahead.

If you are a Smartphone user, check out our home search app at www.eugeneoregonhomesforsale.com.  Our app will be very useful if you are looking at homes for sale in the Eugene and Springfield areas.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
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...



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

VideoVideo

Good Monday Morning!

Real Estate sales in the Eugene and Springfield area continue to slump.  January saw 160 closed Real estate transactions in Lane County and February saw 161 closed sales.  This is an extremely low number in comparison to a normal market.  Just think, there are over 700 Real Estate Agents in the Eugene and Springfield area.  This low number of home sales is putting much more pressure on home prices, so as a result look for home values to continue their decline.

This is not such great news for home sellers, but for home buyers it means that there are some great opportunities in this market.  There are also more Foreclosure properties hitting the market and these also offer some potential for a great deal on a home.  If you would like to receive a weekly list of Foreclosure and Bank Owned homes by e-mail just visit the web site www.eugenebankowned.com.  By registering at this site you will receive a weekly list of the most recent homes to hit the foreclosure list.

Have An Awesome Week!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-in-Real-Estate-US-March-2010



AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

Displaying blog entries 81-90 of 235

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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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