Wednesday, February 22, 2017

Will Prices Stabilize in 2017?

We have one of the lowest inventory levels in the country. What does this mean for buyers and sellers?

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A very recent report came out stating that Portland was No. 8 on the list of the worst sufferers of the housing crunch nationwide. Seattle was ranked No. 1. Guess who was No. 2? Eugene, Oregon. It may be hard to believe, but it’s true. Here in Lane County, we’re down to just 1.7 months of inventory.

This means if no new listings came on the market, we would be out of homes to sell in under two months. This has stressed the rental market as well.

As a result, prices in Lane County have risen about 8.3% in the last year. This is good news if you’re a seller, but not so much if you’re a buyer. The question is, will it continue? The real estate gurus say it will, at least for the next year.

If you’re on the fence, it’s time to get off.

Interest rates are also expected to climb up to 5% by the end of the year. This will increase the cost to buyers and cause fewer of them to be out in the market. We have been spoiled for the last decade with these incredibly low rates. Even if we do get up to 5%, that’s still a historically low number.

What does this all mean for you? If you’re on the fence about buying or selling, it would benefit you to act sooner rather than later.

If you have any questions for us or are interested in buying or selling, give me a call or send me an email. I’d love to send you a copy of my book “Moving Forward” which contains the 25 essential rules for buying and selling. I look forward to hearing from you.

Tuesday, February 7, 2017

A Market Update & a Valentine’s Day Surprise

I’m here today with a musical real estate market update. I’ll go over the latest trends and explain how you can surprise your loved ones with a singing Valentine this year.

Want to sell your home? Get a FREE home value report.  
Want to buy a home? Search all homes for sale.

How is our February real estate market doing so far?

So far, Eugene home prices are still inching upwards. However, inventory remains very low at 1.7 months. That is not good news for buyers; they need more listings to choose from! If you’ve been thinking about selling your home, now is a great time to get on the market.

Now, Valentine’s Day is just around the corner. Many of you may know that I am part of a quartet called Social Insecurity with the Cascade Chorus. Cascade Chorus will provide many singing Valentines over the next couple of weeks.

Reserve your singing Valentine and surprise your significant other!

Basically, a quartet will go to your significant other’s office and sing a couple of ballads to them. This only costs $45, so call 541-607-6937 to reserve your Valentine and surprise your significant other.

Check out the video above for a quick sample of a singing Valentine. In the meantime, if you have any real estate questions, please don’t hesitate to reach out to me. I would be happy to help you.

Have a happy Valentine’s Day!