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This Month In Real Estate October 2018

Monday, November 12, 2018
by Galand Haas

Good Monday Morning,

The national home sales statistics for October 2018 indicate that the national housing market remains flat.  There was little change in home sales numbers and home prices from the month of September.  Mortgage interest rates were up slightly, but still remain favorable.  These numbers indicate that the national housing market remains healthy.  With little change going into the Fall months, this suggest that we should see a very healthy and stable national housing market into the first quarter of 2019.

The housing market in the Eugene and Springfield area remains very robust for the price ranges of $300,00.00 and under, but drops off considerably in the upper end price ranges over $500,000.00 and above.  The housing market for homes that work for first time home buyers remains a strong sellers market, but changes considerably from a sellers market in the upper end market.  This trend should remain unchanged going into 2019.

View video HERE.

Have an awesome week!

THIS WEEK'S HOT HOME LISTING!

 88139 KEOLA LN

Price: $495,000   Beds: 4   Baths: 3   Partial Baths: 1   Sq Ft: 2794

Gorgeous & private rural living! Serene tree views surround 1.37 acre estate. Well-manicured gardens w/ paths, sitting areas & huge patio. Finished 3-car garage & half bath, w/ guest suite above. Features media rm, open layout & private master suite...View this property >>


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Mortgage Interest Rates Holding Steady and May Even Decline

Monday, October 8, 2018
by Galand Haas

Good Monday Morning!

Finally, some bright news for would-be homebuyers. Mortgage interest rates are holding steady and may even see a decline. This trend may help take heat off of a housing market that continues to be over priced for many buyers.

Borrowers saw a slight cool down in mortgage rates this week following last week’s seven-year high. The 30-year fixed-rate mortgage dipped for the first time after five consecutive weeks of increases, averaging 4.71 percent.

But the higher rates may be deterring some would-be home buyers. “The strength in the economy has failed to translate to gains in the housing market as higher mortgage rates have contributed to the decrease in home purchase applications, which are down from a year ago,” says Sam Khater, Freddie Mac’s chief economist. “With mortgage rates expected to track higher, it’s going to be a challenge for the housing market to regain momentum.”

Freddie Mac reports the following national averages with mortgage rates for the week ending Oct. 4:
(Scroll over interactive data chart)

• 30-year fixed-rate mortgages: averaged 4.71 percent, with an average 0.4 point, falling slightly from last week’s 4.72 percent average. Last year at this time, 30-year rates averaged 3.85 percent.

• 15-year fixed-rate mortgages: averaged 4.15 percent, with an average 0.4 point, decreasing from last week’s 4.16 percent average. A year ago, 15-year rates averaged 3.15 percent.

• 5-year hybrid adjustable-rate mortgages: averaged 4.01 percent, with an average 0.3 point, rising from last week’s 3.97 percent average. A year ago, 5-year ARMs averaged 3.18 percent.

Have an awesome week!

 

THIS WEEK'S HOT HOME LISTING!

6997 GLACIER DR

Price: $359,900    Beds: 4    Baths: 2 ½   Sq Ft: 2406

Completely remodeled! Fresh interior & exterior paint. All new carpet, vinyl wood floors, LED lights w/ Decora switches, heat pump, furnace, hot water heater. Large lower level bonus space (not included in SF) w/ lots of potential; could make a grea... View this property >>

 

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This Month In Real Estate September 2018

Monday, September 24, 2018
by Galand Haas

Good Monday Morning!

Nationally, both home sales numbers and average sales prices have dipped slightly.  This has not caught up to the Eugene and Springfield area just yet, but I believe that it is on the horizon.  I am noticing that many homes in our area are not selling quickly at this time and also I am starting to see a good number of price reductions.  This is a strong indication that change is on the horizon.  I would guess that we will most likley be seeing a much softer sellers market over the next quarter.  

 

If you have been looking for a home in the Eugene and Springfield area and became frustrated during the frenzied strong sellers market of the last year, this might be your opportunity to jump back in and potentially have a much easier time finding a home to purchase.

Trouble viewing video? View it here.

 

Have an awesome week!


THIS WEEK'S HOT HOME LISTING!

 

84305 Derbyshire Lane

 

Price: $414,900   Beds: 3   Baths: 1.5   Sq Ft: 2,019

 

Beautiful country property! Serene tree views surround 5.27 acre estate w/ gate entry. Engineered wood floors, 2 fireplaces, ductless heat pump, recessed lights & sliding door. Open galley kitchen w/ eating nook. Living & family rm, plus bonus rm w/... View this property >>  

 

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Latest Market Activity For June 2018

Tuesday, July 17, 2018
by Galand Haas

Good Morning!

The numbers are in and Lane County had another strong month of home sales for June of 2018.  The primary thing to note is that the average home sales price continues to increase and is now over $300,000 as you will see.  One has to wonder how long this trend can continue in a market with a wage scale that does not support this high of an average home price? Here are the numbers for June of 2018.

 

June Residential Highlights

 

Lane County had mostly positive activity this June, with accepted offers leading the way. At 561, pending sales outpaced June 2017 (544) by 3.1% and May 2018 (521) by 7.7%. The last June when pendings ended stronger was in 2004, when 588 offers were accepted.

 

New listings, at 733, fared well in June. At 733, new listings rose 2.8% ahead of June 2017 (713) and 7.8% ahead of May 2018 (680). This was the strongest June for new listings since 2007, when 902 were listed.

 

Closed sales, at 479, dipped 6.1% under the 510 closings recorded in June 2017 but fared 6.2% better than last month in May 2018.

 

Inventory rose upward slightly in June to end at 1.7 months, with total market time holding steady at 38 days.

 

Year to Date Summary

 

Comparing the first six months of 2018 to 2017, closed sales (2,439) have increased 5.7% and pending sales (2,786) have increased 1.7%. New listings (3,370) have decreased 0.4%.

Average and Median Sale Prices

 

Comparing 2018 to 2017 through June of each year, the average sale price has increased 7.3% from $281,900 to $302,500. In the same comparison, the median sale price rose 9.1% from $254,000 to $277,000.

Have An Awesome Week!

 

THIS WEEK'S HOT HOME LISTING!

6997 Glacier Drive
Price: $375,000 Beds: 4 Baths: 2.1 Sq. Ft.: 2,406

Completely remodeled! Fresh interior & exterior paint. All new carpet, vinyl wood floors, LED lights w/ Decora switches, heat pump, furnace, hot water heater. Large lower level bonus space (not included in SF) w/ lots of potential; could make a grea...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

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Latest Market Activity for January 2018

Wednesday, February 21, 2018
by Galand Haas

Good Morning!

The Real Estate market in the Eugene and Springfield area was stronger in January of 2018 than in January of 2017.  Both sales and new listings were up.  The inventory of homes on the market remains low at 1.7 months and critically low in the first time buyer price ranges of $250,000 and below.  Here are the home sale statistics for January 2018.


January Residential Highlights 

January brought waves of warm real estate activity to Lane County, almost across the board. Pending sales (425) outpaced January 2017 (318) by 33.6% and December 2017 (309) by 37.5%. This is the strongest January for pending sales in Lane County on the RMLSTM record, dating to 2001. 

New listings, at 426, ended 33.1% stronger than in January 2017 (320) and 91.0% stronger than last month in December 2017 (223). 

 

There were 326 closed sales, faring 19.4% better than last year in January 2017 (273) but cooling 12.1% compared to December 2017 when 371 closings were recorded. 

 

Inventory held steady in January at 1.7 months, and total market time increased by four days to end at 66 days. 

Average and Median Sale Prices 

Comparing the average price of homes in the twelve months ending January 31st of this year ($289,100) with the average price of homes sold in the twelve months ending January 2017 ($264,800) shows an increase of 9.2%. The same comparison of the median shows an increase of 10.1% over that same period. 

 

Have An Awesome Week!

 

THIS WEEK'S HOT HOME LISTING!

 

 

6655 A ST

Price: $199,900

Beds: 2

Baths: 1

Sq Ft: 1078
Cute 1-level home in desirable Thurston neighborhood. Well-maintained home features updated drs & vinyl windows. Large living rm w/ wood-insert fireplace. Galley-style KIT w/ French door leads to utility rm. Open dining area w/ sliding dr. Large cro... 

View this property >> 



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Latest Market Activity for October 2017

Monday, November 20, 2017
by Galand Haas

Good Monday Morning!

October home sales in the Eugene and Springfield are were down seasonally, but remain strong and above October 2016 home sales.  Here are the October 2017 statistics.

October Residential Highlights

Lane County saw some mixed activity in October, but numbers are up across the board compared to October 2016. Pending sales (477) showed a 14.4% increase over October 2016 (417) and a 3.7% increase compared to last month in September 2017 (460). It was the strongest October for pending sales in Lane County since at least 2001!

New listings, at 446, increased 23.5% compared to October 2016 (361) but fell 14.9% short of the 524 new listings entered just last month in September 2017.

Closed sales fared similarly—at 428 in October, closings increased 6.5% from October 2016 but decreased 7.6% from last month in September 2017.

Year to Date Summary

Comparing the first ten months in 2017 to the same period in 2016, new listings (5,782) have increased 2.3%, closed sales (4,368) have remained steady, and pending sales (4,629) have decreased 1.9%.

Average and Median Sale Prices

Comparing 2017 to 2016 through October of each year, the average sale price rose 9.5% from $263,200 to $288,200. In the same comparison, the median sale price rose 10.6% from $235,000 to $260,000. 


HAVE AN AWESOME WEEK!

Image Unavailable
Price: $595,000 Beds: 3 Baths: 2 Sq Ft: 2000
Horse property only 5 mins from town! Nearly 6 level acres, backs up to canal & great for trail riding along Amazon. Wonderfully updated home with 2-car garage. 1 bedroom guest house w/ carport has income producing potential. 2 barns w/ 11 stalls, i...View this property >>


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This Month in Real Estate October 2017

Tuesday, October 24, 2017
by Galand Haas

Good Morning!

Change could be on the horizon for the national Real Estate market. Nationally, home sales dipped last month and the cost of housing also followed suit. After a very long run of escalating home sales and prices, this could signal a slow down. There is no question that flat markets or dips occur after hot markets. Whether this will be a long term trend or just a temporary blip in the market is yet to be seen.

Have An Awesome Week!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-In-Real-Estate-October-2017

THIS WEEKS HOT HOME LISTING!
Image Unavailable
36946 PARSONS CREEK RD
Price: $389,900 Beds: 3 Baths: 1 Partial Baths: 1 Sq Ft: 1890
Rustic Tuscan country-style charm! Terra Cotta tile, wood flr, rustic dr & window wood trim, steel beams, large windows. Remodeled kitchen w/ ship lap feature wall, galvanized metal backsplash, butchers block countertop & eating bar. Kitchen opens t... View this property >>

 


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Latest Market Activity for September 2017

Monday, October 16, 2017
by Galand Haas

Good Monday Morning!

September home sales in the Eugene and Springfield market area cooled slightly, but the overall home sale market remains good.  The inventory of homes for sales remains low at just 2.1 months of inventory.  Even with the onset of Fall, the Real Estate market remains favorable for sellers and maybe slightly improved for homebuyers.  Here are the statistics for September 2017.

Lane County saw some cooler numbers this September, but new listings did gain compared to last year. At 524, new listings rose 7.4% compared to September 2016 (488) despite cooling 22.9% compared to last month in August 2017 (680).

Pending sales, at 460, decreased 2.1% compared with the accepted o ers recorded last year in September 2016 (470) and 12.4% compared with accepted offers recorded last month in August 2017 (525).

Closed sales, at 463 in September, ended 5.1% below the 488 closings in September 2016 and 10.8% below the 519 closings last month in August 2017.

Inventory rose slightly to 2.2 months in September, and total market time rose to 50 days in the same period.

Year to Date Summary

Comparing the first nine months in 2017 to the same period in 2016, new listings (5,321) have increased 1.0%, closed sales (3,917) have remained steady, and pending sales (4,179) have decreased 3.5%.

Average and Median Sale Prices

Comparing 2017 to 2016 through September of each year, the average sale price rose 10.3% from $261,300 to $288,300. In the same comparison, the median sale price rose 10.6% from $235,000 to $260,000. 

Have An Awesome Week!

THIS WEEK'S HOT HOME LISTING!

Image Unavailable
927 S. 58th Street
Price: $325,000 Beds: 3 Baths: 2 Sq Ft: 1522
Beautiful brand new home from builder Gary Konold. One level home features CORETec floors, granite counters, vaulted/high ceilings, gas fireplace & Great Room. Dining area w/ slider, kitchen w/ SS appliances, recessed lighting & peninsula with eatin...View this property >>

 


AND HERE'S YOUR MONDAY MORNING COFFEE!! 

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This Month in Eugene-Springfield Real Estate February 2016

Monday, February 15, 2016
by Galand Haas

Good Monday Morning!

The Real Estate market in the Eugene and Springfield area has started off 2016 by being a strong sellers market.  There is significant demand for homes, but home inventories remain at extremely low levels.  Less than 3 months of active home inventory in our market area means that if no new homes were to go on the market, the existing inventory of homes for sale would be exhausted in less than 3 months.  For anyone wanting to sell their home, this is as good as it gets.  The competition level is very low and the demand is high.  As long as we continue to have extremely low mortgage interest rates, this market will most likley continue.

As I have stated in previous reports, if you are considering the sale of your home soon or in the near future, now is the time to act.  Don't wait for Spring, act now! If you would like to explore what your home is currently worth in todays market, contact me and I can furnish you with a FREE market analysis.  Or if you are are wanting a quick and easy look at your homes value, you can also visit the website www.forhomesellers.com.  This site wil give you a fairly accurate look at your homes current value and is much more accurate and reliable than a Zillow report.

Have An Awesome Week!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-in-Real-Estate-February-2016

 

THIS WEEKS HOT HOME LISTING!


2685 Valley Forge Dr

Price: $509,900    Beds: 3    Baths: 2    Partial 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...
View this property >>


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Federal Reserve Rate Increase Had Little Effect on Mortgage Rates

Monday, February 8, 2016
by Galand Haas

Good Monday Morning!

I am asked frequently these days about mortgage rates jumping due to the Feds recent increase in their rates.  The fact is that the Fed's increase had little effect on mortgage rates and in fact mortgage rates have continued to decline since the Fed increase.  If you want to purchase a home, now is the time.  Our current low mortgage rate situation is not here to stay, but you need to take advantage of it.  Here is an article from "Realtor.com" that explains our current situation with mortgage rates.  It is an interesting read.

The Federal Reserve recently raised interest rates, U.S. stocks are tumbling and new worries about the Chinese economy seem to emerge daily. So go ahead and buy that house you’ve been looking at.

Well, not necessarily. But consider: all the worries about China that have battered the U.S. stock market in early 2016 have done the opposite for bonds. More money pouring into Treasurys has driven mortgage rates to a two-month low. A 30-year mortgage slipped to 3.92% in mid-January.

The housing market had already been steadily gaining ground even before the latest drop in rates. Indeed, it’s been one of the strongest parts of the economy over the past year. Sales of new and previously owned homes are likely to finish 2015 at the highest level since before the Great Recession.

What’s more, the number of permits to build additional homes is on track to reach an eight-year high.

The final housing numbers for 2015 will start to trickle in this week.

Work on new construction, known as housing starts, is forecast to rise to a 1.19 million annual rate in December from 1.17 million in the prior month. Starts will top the 1 million mark for the second straight year.

Six years ago, builders were producing fewer than 600,000 new homes a year.

Sales of existing homes, meanwhile, are expected to hit a 5.15 million annual rate in December and finish the year about 25% higher compared to the post-recession low.

Most economists predict new construction and sales will increase again in 2016, aided by a much improved labor market. Barring, of course, China bringing the rest of the world to a crashing halt.

“The U.S. economy added more than 200,000 jobs per month on average in 2015, and wage growth is picking up,” noted Stuart Hoffman, chief economist of PNC Financial Services.

In the past three years, the U.S. has produced 8.2 million new jobs to give more people entering their prime earning years the ability to buy a home.

The big wild cards are mortgage rates and home prices, both of which could deter buyers.

The Fed raised a key short-term rate in December for the first time in nearly a decade, and the central bank is widely expected to push rates even higher in 2016. Yet so far that hasn’t translated into upward pressure on long-term Treasurys or home mortgages. Right now investors are more worried about whether a slowing Chinese economy will hurt the rest of the world.

The higher cost of buying a home could act as another repellent. Prices rose in 2015 to levels last seen shortly before the onset of the Great Recession in late 2007.

An expected increase in home construction could make it easier for buyers, though. Permits for new construction in November, for instance, were almost 20% higher compared to the same month in 2014. A greater supply of homes for sale would help hold the line on prices.

While home builders remain optimistic, the same can’t be said for American manufacturers. Sales and profits have softened over the past year because of a strong dollar, weak global economy and a slump among energy firms that are among the biggest buyers of manufactured goods.

A monthly Philadelphia Federal Reserve report on the state of manufacturing is likely to show an industry still under siege in January.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

3759 Westleigh St

Price: $185,000    Beds: 4    Baths: 2    Sq Ft: 1645

Great townhouse! Townhouse with garage and yard. Four bedrooms and 2 bathrooms. Large kitchen, window shelves and seating. Fenced patio. Located one block from shops, school, park....
View this property >>


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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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