Monday Morning Coffee
Good Monday Morning!
As the national and local Real Estate market's continue to heat up, it would be wise to approach the current housing market with a degree of caution. Yes, it is exciting that homes are once again beginning to sell in the Eugene and Springfield market areas! Is it just like the old times again? Well, maybe not. In fact we most likely will never see the old times again.
What we all need to remember is that the current upsurge in the housing market and in home values is not based on a true economic recovery. Most of the improvement in the housing market are based on current low mortgage interest rates that are being artificially created by the feds. We can all hope that both the national and local economies will rebound significantly because the low rates won't last forever. When interest rates begin to rise, look out. Will the current bubble burst? This is going to be dependent upon the condition of the economy and also on how sharp the increase in mortgage rates is. It could happen quickly though and we could slide back into a strong buyers market at the drop of a hat.
We most likely will see a continuation of low rates for the forseeable future, but the best bet is to take action now if you are considering a home purchase. One thing that history has proved to us is that the market we have today won't won't be the market that we have a year from now.
Have An Awesome Week!
THIS WEEKS HOT HOME LISTING!
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4020 Hampshire Ln
Established and comfortable neighborhood! Underground irrigation in front garden, fenced backyard with deck. Home offers living room, family room with pellet stove and slider to back, kitchen with laundry area, and dining area. Some updates includin...
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AND HERE'S YOUR MONDAY MORNING COFFEE!!
Sincerely,
Galand
