Real Estate Information Archive

Good Monday Morning!

Even during this time of a strong Real Estate market in the Eugene and Springfield area, there are homes that hit the market and fail to sell.  The primary reason for homes not selling in any market is pricing.  Homes that are priced above their competition will sit and be looked at, but may not get offers and typically will not sell.  One of the primary factors that effects the value of a home is it's condition.  Here are some ideas as to how to upgrade the condition of your home to get a higher sales price.

When it comes to looking at houses, we do tend to judge a book by its cover. That’s why it’s so important to make sure your home looks as appealing as possible, both inside and out, if you want to get top dollar when you sell. U.S. News & World Report talked to real estate experts, who said these home improvements will help boost your selling price.

Improve your landscape. Keep your lawn neat, trim the bushes, clear out any old or tired-looking shrubbery and replace with new ones, add color with potted plants or garden beds, and top everything off with a fresh layer of mulch or rock.

Spruce up your entryway. Paint the front door or replace it, and update your house numbers and mailbox.

Change out light fixtures and plumbing fixtures. Replacing outdated fixtures with more modern ones gives your house an instant lift.

Return rooms to their original uses. If you use the extra bedroom as an office, turn it back into a bedroom.

Replace dirty or worn carpet. Prospective buyers can tell the difference between new carpet and cleaned carpet, and often, cleaning it just isn’t enough. If you have hardwood floors underneath the carpet, your best bet might be to refinish them and forego carpet completely.

Remove window treatments, unless they are current and high-end. Your window treatments probably won’t match a prospective buyer’s décor, so you’re better off removing them. Plus, uncovered windows let in more light.

Depersonalize. House hunters want to imagine themselves in your home, so remove obvious and identifying personal items, like photos and knick-knacks.

Clean thoroughly. Make every inch of the house sparkle and shine by deep cleaning it. And then think about hiring a house-cleaning service to do it, too.

Paint every room. A fresh coat of paint in a neutral color appeals to everyone. It freshens up the house, making it look newer and more modern.

Consider replacing textured ceilings. For some buyers, popcorn ceilings are a deal-breaker. If your home was built before 1979, the ceilings could contain asbestos, so you would need to hire a professional to remove the texture. If it’s a newer house, you can scrape the ceilings yourself or, if your ceilings are high enough, you could just install drywall over them to create new ceilings

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THIS WEEKS HOT HOME LISTING!

2685 Valley Forge Dr

Price: $524,900    Beds: 3    Baths: 2    ½ Baths: 1    Sq Ft: 2302

Anslow & DeGeneault 2015 Tour of Homes model home. Gas forced air 92% efficiency, exquisite single level, located in beautiful Hawthorne Estates. Easily entertain in Great Rm overlooking backyard. Escape to luxurious owner’s ste w/ tray ceilin...
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Good Morning!

As I have mentioned previously, one thing that you can bet on is that things are not going to stay the same in the world of Real Estate for any long period.  Our extended run of historically low mortgage interest rates could be close to ending.  It now appears that the Fed will soon begin raising interest rates.  This could indicate that the Fed is putting the steps into place which will eventually normalize interest rates in this country.  How fast this all takes place is anybody's guess, but it has to happen and it now looks like this is the scenario that is rapidly approaching.

What does this mean for home buyers and home sellers?  Our long run of low mortgage rates has heated up a Real Estate market that otherwise would have been flat.  Low rates have kept buyers very active and this has created high demand, which in turn has created low inventories of homes from sale.  This situation has lead to home price increases across the country.  Higher mortgage interest rates will decrease buyer demand, allowing invetories to rise and this will in turn put pressure on home pricing.  This will not happen over night, but it will happen.  Also, remember that this country has struggled to fully recover from the recession and household incomes have not really increased in a long time.  All of this points towards a much slower housing market in the months ahead. A market that may not be nearly as attractive to buyers and sellers as the one we are currently enjoying.

If you are considering a home purchase or a home sale, don't hold off.  Don't wait for Spring.  This could be a very costly mistake.  Mortgage interest rates remain low at this time and buyer demand is high.  For sellers, this may be the be time to sell your home that you will see for years.  For buyers, home affordabilty may suffer when rates climb as well as your ability to qualify for financing.  Don't wait, as I mentioned above, the current mortgage rate situation is about to change and we may never see mortgage rates back at the levels they are today.

If you would like some information on buying or selling a home in this market, get in touch.  I would love to assist you.  As always there is no obligation, just good, honest information that will help you make the right decision.

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THIS WEEKS HOT HOME LISTING!

2231 Sandy Drive

Price: $330,000    Beds: 3    Baths: 3    Sq Ft: 2720

In highly desirable Ferry St Bridge area! Delightful 0.21 acre property on quiet street. Features recessed lights, skylights, vaulted ceiling and Pergo wood floor. Huge master suite with 3 closets and 5-piece bath. 3 bedrooms plus additional room th...
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Good Monday Morning!

If you are considering the sale of your home, then the following article from Realty Times is a must read.  Selling your home for top dollar and in the shortest period of time is not always easy if you miss the market.  This article will give you some good guidelines for home sale success.

A Comparable Market Analysis (CMA) can tell you what buyers recently paid for homes similar to yours, but that's not all you need to know to choose the right listing price. You need to know the market's appetite for your home, and that can only come from an overview of your community's current market conditions.

Market conditions are like a weather report; it helps you predict what the current crop of buyers will do. Using this knowledge, you can price your home to sell quickly, and for the most money possible.

Why is a quick sale important? The right price generates a bumper crop of buyers. If you price your home too high compared to other similar homes, you'll appear to be testing the market. Buyers will assume that you're going to be too difficult in negotiations.

Here's what you need to know - what kind of a market are you in? Market conditions are formed by buyer attitudes, made sunny or cloudy by jobs, incomes, mortgage interest rates, and overall consumer confidence.

It's possible that your community could have buyer's and seller's markets simultaneously. For example, your neighborhood may be hot, while the subdivision a mile away is stone cold.

A seller's market is characterized by confident buyers, short "days on market" and low inventory levels of less than six months on hand. This usually results in rising prices.

A buyer's market is characterized by longer "days on market," and high inventory levels of seven months' supply or more. To get buyers to come in from out of the storm, sellers must offer incentives such as seller-paid closing costs or lower prices.

The market conditions will tell you the long and short-term trends. If the market is heating up, you can ask a little more for your home. If the market is cooling, you may need to price your home slightly under the market in order to attract more buyers.

One thing you absolutely should never do is ignore market conditions. It's said the market is always right. If you price your home too high, you'll know when you get few to no showings.

That's why it's important to ask your real estate agent for occasional market updates as well as a fresh CMA. You'll get a better idea of what your home will sell for and how long it will take to sell.

If you would like an idea as to what your home would be worth on the market today, go to the web site www.forhomesellers.com.  This web site you give you an in depth look at your homes current market value.  Unlike Zillow, this information will be accurate and based on the Eugene/Springfield home market area.  Once you have signed up, it will also send you a revised analysis monthly.

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THIS WEEKS HOT HOME LISTING!

2279 Blackburn St

Price: $325,000    Beds: 4    Baths: 3    ½ Baths: 1    Sq Ft: 2212

One-of-a-kind! Spacious & airy renovation with Alterna vinyl tile floor, bedroom suite on each level, master bath with dual shower heads, large kitchen opens to dining area, living room with bay window plus family room/den with french doors. On 0.27...
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Good Morning!

One of the key parts of selling a home and getting top dollar for it is to have it look appealing to would be home buyers.  Home staging has been a trick that has worked well for me as a listing agent for years.  If you are considering selling your home, here a some ideas that will help you get top dollar in any market. This is an article from "Realty Times".

Getting ready to sell your home? It would be awesome to hire a home stager.

Home stagers are paid to furnish a home and help it look its best. What they create isn't so much the ideal living environment but rather the idealized one—one in which there are no awkward furniture arrangements, toys on the floor, crumbs on the countertops, or surprises in the toilet. It's not maintainable for most people everyday, but boy does it work when selling your home.

Stagers typically have furniture and accessories at their disposal—not to mention interior design degrees. But they can cost hundreds—even thousands—of dollars. Fortunately, you can achieve great results by using some of their tricks.

Clear it out and clean it up

The first step in preparing any home for sale is to clear it out and clean it up, getting rid of clutter and personal items and scrubbing it down.

"De-cluttering -- and having a pristine home from top to bottom -- are the no-brainers that can make your real estate look better than the house down the block," said Better Homes and Gardens. "Your home must be cleaner and less cluttered than it's ever been. You need to banish not just the day-to-day buildup (the mail, the shoes, last season's clothes, the dog hair), but also several years' accumulation."

Removing kids' toys, outdated furnishings, and excessive knickknacks can help. Whatever you can't sell or donate, box up and store at a friend or relative's house, or rent a storage unit for a couple of months. Or, if you can do so neatly and without compromising your garage space, stack them along a wall.

Depersonalize

A house that reflects your personal style from floor to ceiling and all over the walls (and every other surface) will have a hard time appealing to buyers.

"Prospective buyers won't be able to picture themselves in the house if they're surrounded by dozens of photos of your children and grandparents," said Bankrate.

Update the bathroom

Not everyone has the funds for a big bathroom renovation prior to selling. Smart changes can make a big difference.

"Avoid dated tile by painting. Bathrooms sell houses, but dated tile in a bathroom doesn't. A low-cost alternative to replacing the tile is to use paint," said HGTV. "First coat the tiles with a high-adhesion primer.

Next, brush on a special ceramic epoxy covering. For a fraction of the cost of new tile, you will have an up-to-date bathroom that brings in big bucks."

Pay attention to design details

After you've cleared away the clutter, you want to focus on creating simple, elegant designs. It's easier than it seems.

"For a visual impact on a table without a lot of fuss, remember a design basic: Groupings of odd numbers always do the trick! Three of a kind, like…hurricane jars, filled with something as simple as pinecones, makes a ridiculously easy and dynamic table scape," said Katie Jane Interiors.

Up your curb appeal

Make sure you make a great first impression, or you might not have an opportunity to make a second impression.

"You may have spent hours making sure the kitchen is clean, and doing so is worth the effort," sad Bob Vila. "But remember, the facade is the first part of your house a potential buyer will see. A little landscaping can go a long way. Strapped for time? Potted plants placed around the front door will add welcome charm to your entryway."

Pay attention to odors

We get used to our environment, so we might notice that musty smell or cat box aroma. Have your realtor or a trusted friend do a walk through and give you an honest assessment—not just of the way the house looks, but how it smells. Then take action to improve it. Start by steam cleaning the carpets and any upholstered pieces that need it.

Don't ignore the windows

Windows that are cloaked by outdated or heavy window coverings can negatively impact the image your home projects. Open the blinds and replace drapes with inexpensive versions that will let the light in and frame the views.

"Need to dress up a window but don't want to shell out big bucks for window treatments? Here's a trick: Use place mats," said HGTV. "First, apply a hook-and-loop fastener to the place mats and attach them in a row to a basic curtain rod. Now that the place mats are attached to the curtain rods, pin them together at the bottom, and you'll have a stylish valance that costs about $12."

Upgrade the Furniture

Giving your home a fresh, clean look with new furniture can make it feel more modern and appeal to more buyers. Don't have money for new stuff? "Try giving worn-out pieces a pick-me-up with new pillows or a slipcover," said Bob Vila.

While you're at it, take a look at your furniture layout too. "Your preferred setup may not be the most appealing one to would-be buyers. Where logical, opt for a social layout that makes it easy to envision the space being enjoyed among family and friends."

Give rooms a single purpose

That home office that doubles as a guest room is useful, but when it comes time to sell your home, pick one and run with it. "Potential buyers are confused by extra rooms that have a mishmash of uses," said HGTV.

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THIS WEEKS HOT HOME LISTING!

114 Hayden Bridge Way

Price: $259,900     Beds: 3     Baths: 2     Sq Ft: 1451

Pride of ownership shows. Over 1/4 of an acre offers oversize attached garage, detached garage/shop with workbench, long wide drive with room for RV parking, large fenced backyard with covered patio, plus timed sprinkler system. Great room with fire...
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Good Monday Morning!

Over the past several weeks, I have been advising anyone who is considering selling their home to take action now while we have a strong sellers market.  Now, I would like to go over a few things that are important parts of being successful with selling your home.  You may notice that even during this strong market, there are homes that just sit there and don't sell.  There are reasons for that and to make sure that you do not experience this with your home sale, here are a few rules to live by as mentioned in a recent article in Realty Times.

You may think buyers will love your home because of your extraordinary taste in home furnishings or the incredible job you did with your home addition. Nope, it's not the décor or the vast add-on that gets them to commit, although they may help. There are three top reasons a buyer chooses to buy a home -- price, condition, and location.

Let's start with Price.

To choose the right asking price for your home, you need to know if your neighborhood is in a buyer's market or seller's market. A buyer's market is characterized by large inventories of six months' supply or higher, few buyers making offers, low offers, and many other concessions asked of sellers. A seller's market is characterized by low supply of six months on hand or less, heavy buyer traffic, multiple offers, and close to full price or full price offers.

Bankers, buyers' agents and buyers all have access to the same market information that your agent has given you. If you overprice for the current market, your potential buyers won't get to see your home, and even if they do, they won't get their loans approved.

 

Condition

Allow your real estate agent to help you market your home by putting it in the best condition possible. Buyer's pet peeves may be easy items to fix, but you don't want your house to go to the bottom of their list because you failed to paint, mow, replace the carpet, etc. Sometimes you have to invest a little money to make money.

Remember, today's buyers are more skeptical about buying a home, so creaky steps, dripping faucets, and outdated wallpaper just give buyers a reason to skip your home.

Location

You can't do much about your home's location, but you can make your home more attractive with lovely landscaping, fences to block out ugly views and sounds, a lower price and immaculate condition.

If you do have a great location, don't overprice. People expect to pay more for a great location next to schools, transportation, shopping and restaurants, but if you overprice, they will scrutinize the price and the condition.

It's hard not to be sentimental about the home you've lived in for years, but to buyers, your home is a commodity. Like you, they simply want to make a good deal on a home they love.

You'll quickly find out what real estate agents and their buyers think of your home. If you get a quick offer, you know you priced it right for the location, condition, and the current market.

If you don't get an offer within a couple of weeks, or whatever period is normal for your area, there's something wrong. Look at your price and condition and see if you can make your home a little more desirable.

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THIS WEEKS HOT HOME LISTING!

 

2060 McLean Blvd

Price: $305,000    Beds: 3    Baths: 2    Sq Ft: 2180

Beautiful and peaceful residence! From high up on a hill enjoy serene tree views. Sunlight floods inside through numerous large windows and 2 sliders. Relax next to the fireplace in the family room, take in the view from the living room, or outside ...
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Good Morning!

Many of you seem to rely on Zillow as your primary source for information in regards to your home value.  Yes, Zillow and their "Zestimate" are the #1 consumer tool used to figure out property values.  The "Zestimate", is an easy tool to use, but the truth is that the accuracy of this Zillow report may be wildly inaccurate.  The problem is that many homeowners believe that the "Zestimate" is an honest and fair assessment of their homes value.  The truth is that in most cases this is just not reality.  I find that occasionaly Zillow's home value has some accuracy, but here in the Eugene and Springfield market area, the majority of the time, the "Zestimate" is way off base.  Many times the Zillow values can be as much as 20% off of true value.  This presents a problem, because many homewoners are basing decisions on selling, refinancing, etc. based on a value that may be extrmely inaccurate.

Here is my advice!  Don't rely on Zillow for anything other that just a general ball park idea of your homes value.  There are many factors that go into getting an accurate value report on your home.  Your homes location, condition, floor plan, amenities, etc. are all factors that a "Zestimate" cannot take into consideration.  These are all factors that can only be establsihed by a professional Real Estate agent visiting your home and doing a market analysis.  If you are needing an accurate look at your homes value, this is really the only way that you are going to get it.

If you are just wanting to keep on top of your homes value and you are not needing extreme accuracy, there is a local online service that is set just for Eugene and Springfield home values.  Like the "Zestimate", this is online and automated, but the overall accuracy is heads above Zillow.  Just go to www.forhomesellers-nonSmartZip.com and enter in your homes information.  A complete online value report will give you a look at your homes current market value.  The cool thing about this site is that it automatically issues a new and updated report and e-mails it to you every month.  

If you are wanting or needing an accurate look at your homes value, please contact me.  With a 20 minute visit to your home, I can provide you with a very accurate assessment of value.  As a part of my client service this is FREE of charge and there is absolutely no obligation.

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THIS WEEKS HOT HOME LISTING!

649 ST ANDREWS LOOP
 

Price: $495,000    Beds: 5    Baths: 4    ½ Baths: 1    Sq Ft: 5568

Outstanding value at $88 per sq ft - Hardwood flooring, granite counters, travertine tile, hickory cabinets, two walk-in closets, solid core 8ft doors, creek views, next to Emerald Valley Golf Resort. Too many high end amenities to list...
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Good Morning!

I am asked frequently the question as to, "when is the best time for me to sell my home"?  The answer to this most times can vary and is always subject to supply and demand.  When supplies are low and demand is high, (sellers market), this is always the best time to sell. Right now in the Eugene/Springfield home market, the demand is high and the inventory is low.  In fact right now, we are at 3.4 months of home supply.  Remember, anything less than 6 months is a sellers market.  On top of this, we are continuing to enjoy the benefits of historic low mortgage interest rates.  The combination of high demand, low inventory and low mortgage rates has also put our home market on a sharp rebound in home values.  So, not only is there demand, but your home value is most likely much higher than where it has been over the past several years.

Beware!  As all markets do, this current market won't last forever. In fact my prediction is that when mortgage interest rates begin the spiral upwards, the housing market will flatten quickly. This means that demand will taper, there will be higher inventories of homes for sale and this may put pressure on home prices in our area.  We could actually see home values decline again.

For this reason, if you are thinking about selling your home now or within the next several years, my advice would be to act quickly.  Get your home on the market now while the conditions are extremely favorable. If you wait, you just may miss your opportunity for a home sale at a strong market value.  Chances are that we won't see another market like we have right now for many years.

Video Link: This Month in Real Estate

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THIS WEEK'S HOT HOME LISTING

3097 Summit Sky Blvd

Price: $699,000     Beds: 4     Baths: 4      Partial Baths: 1     Sq Ft: 4338

Elegant upper end home on 1.06 acres in SW Hills! Maple hardwood flrs, granite, travertine, 3 suites, 2 fireplaces, 2 balconies, family rm, library/office, formal dining, bonus rm, media rm. Gourmet kitchen with cherry cabs, wine fridge, dbl ovens, ... View this property >>

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Good Morning!

If you currently have a home on the market for sale or if you are getting ready to put your home on the market, the way your home appears on the outside is extremely important. Now that Spring is here and Summer is not far away, the way your home appears outside will have a huge impact on the kind of interest you get in your home. A home with neat, attractive and well kept landscaping will not only get more interest, but it will sell for more money. Here is a blog post from "Realty Times" that adresses curb appeal.

You've probably heard how important curb appeal is when you're trying to sell your home. The first thing buyers look at when they pull up to your home is the big picture -- the house, the yard, the trees, the flowers. It's the impression that counts, and all it takes is one thing to ruin the effect -- a cracked walkway, dead branches in the trees, leggy bushes.

As you look around at all the things you need to fix or update to sell your home, it can be overwhelming. Many sellers struggle with the costs, the decisions, and the time it takes to market their homes. Since most landscaping isn't permanent, you may think it's not as important as other projects that need to be done, but you should strongly consider putting it in the marketing budget.

You can do some of the work yourself or you can get help. But here are five jobs you can do that help you make the most of your home's drive-up appeal.

1. Get rid of anything dead. Dead leaves, flowers, and trees do nothing for your curb appeal. Snip it, rake it and bag it. As you finish, you'll see blank areas. Fill these in with fresh flowers, small bushes, potted plants or yard art. No Gnomes or flamingoes need apply.

2. Cut and weed the grass. If you mow your own lawn, make sure it's freshly mowed every week. Pull or spray weeds so the texture of the grass will be more pleasing.

3. Replace or hide leggy bushes. Nothing makes a front entry look more dated than bushes with longer legs than torsos. Pull them out and replace them, or if it's more expedient, plant boxwoods or other small bushes in front. You can also cover a lot of blank areas with mulch, wood chips or gravel.

 
4. Improve both hardscapes and softscapes. Decorative stone, tile, brick, concrete or wood can add a lot of appeal to the softer elements such as flowers, plants, grasses and ground cover. Landscaping doesn't have to end at the porch. Bring color and vitality to the entry with potted plants and flowers.

5. Light the way. Landscape lighting doesn't have to be expensive. Lanterns to line the walk, or the occasional uplight for the trees can have a glamorous effect on the exterior of your home. Lighting provides security as well as spotlights what you want to call attention to -- a beautiful tree, a flower bed or an architectural element of the house.

If you're not sure where to begin, go to your local landscape supply with a sketch or photo of your home and ask for ideas. Explain that you're selling your home and you need help with curb appeal. You may get a lot of free advice that's really helpful.

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THIS WEEKS HOT HOME LISTING!

 

88428 Partridge Ln

Price: $749,000     Beds: 3     Baths: 2    ½ Baths: 1     Sq Ft: 3942

Secluded riverfront estate on 4.65 acres! Fish from your own backyard on 300ft of Mckenzie river frontage! Beautiful mountain views surround you on the manicured grounds. Main home features updated kitchen with Dacor 36” duel-fuel range, large...
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Good Monday Morning!

Both national and local home prices continue to increase.  Even though this has a slight negative effect for potential home buyers, home sellers are benefiting from the increase in home values.  Here in the Eugene and Springfield area, home values have increased significantly since the market down turn several years ago.  Although, in most cases home prices have not come back to where they peaked at around 2006, they have come back enough for anyone thinking about a home sale to consider making the move to do so soon.  There is much speculation that mortgage interest rates might begin to go up later this year.  With the increased mortgage interest rates, the demand for housing could decline, putting pressure on home prices.  We just might be at that point where your home value is at a peak and the oppotunity to sell at top dollar could just be right now.

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THIS WEEKS HOT HOME LISTING!




 

6076 Fernhill Loop

Price: $497,000     Beds: 3     Baths: 3     Partial Baths: 1     Sq Ft: 4061

Great separation of space in this Craftsman style home located on .46 of an acre. Large kitchen with island, hardwood floors, granite, pantry, open to family room with fireplace & built-ins. Formal living room boasts high ceilings, fireplace, light ...
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