Home Inventories Decline
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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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