Today's Real Estate Market
Good Monday Morning! In many parts of the country the real estate market is so hot that as soon as a home hits the market for sale there are multiple offers. The market in the Eugene and Springfield area is not quite that hot, but it certainly has improved over the market that we had for the past 4 years. In some price ranges and areas we are beginning to see multiple offers more frequently here in our market area. This usually creates a bidding war situation and can potentially escalate the sales price for the home. The one thing to keep in mind is that even though there may be a higher demand for homes right now, the sales price is really controlled by the appraisers. The appraisers have to find a value in the home that is reflective of the current market. They do this to protect the lenders from loaning on a home for more money than it is truly worth. Appraisers use past sales for the comparable properties to justify value. In a hot market past sales will almost always be less than what the current market dictates. This is why appraisals keep home prices in check and don't allow huge increases over a short period in home values. When listing a home in a hot market this is always something that you will want to keep in mind. Have An Awesome Week! THIS WEEKS HOT HOME LISTING! |
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Video Link: http://eugeneoregonhomesforsale.com/video/87904-Oak-Hill-Drive-Eugene-Oregon |
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1715 Best Ln
Charming Home on Big Lot! Detached studio with laundry and living room. Large fenced backyard, garden, patio area, long driveway with 2-car garage. Home offers quaint archways, large living room with fireplace, formal dining, large laundry/mud room ...
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AND HERE'S YOUR MONDAY MORNING COFFEE!!
Sincerely,
Galand
