Eugene and Springfield Real Estate Update 9/22/08
Good Monday Morning!
A little Fall weather hit us over the weekend and Just in time to help stop the forest fires and settle the dust!
These shaky economic times have certainly had an effect on our local housing market. The August statistics are in and they continue to point toward a worsening market here in the Eugene and Springfield area. Closed home sales in August were off by 28.7% over August of 2007. There were 318 closed sales in comparison to 446 for August of 2007. There was 8.1 months of active home inventory for sale, this was better than July which had 8.8 months, but down from August of 2007 where there was 5.1 months of inventory. The average time it took a home to sell in August was 105 days and this compares to 66 days in August of 2007. The median home price declined again and was at $216,000 in comparison to $234,000 for 2007.
The bright spot is that mortgage interest rates continue to drop and the market is by far the best market that I have ever seen for buyers. Real Estate investors should be taking action now as home prices are low, inventory is high, interest rates are low and rents are very high. What more could an investor ask for?
THIS WEEKS HOT HOME LISTINGS!
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3125 Elmira Rd
Description: This tidy 1-story home offers a spacious and well-manicured front lawn, 2-car carport and fenced backyard with a detached tool shed. The living room features hardwood floors and the family room offers .... |
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5624 C Street
Description: This 1-level, 3-bed, 2-bath home is in immaculate condition and has lots of modern updates. The living room features a vaulted ceiling, carpet flooring, and a wonderful brick fireplace. The light & .... |
AND HERE'S YOUR MONDAY MORNING COFFEE!!
Sincerely,
Galand
