Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Jan. 16, 2020

Household Resolutions for 2020

 
It is said that hindsight is 2020, yet we feel confident that with these resolutions you can walk into the New Year with 2020 vision in the foresight. Happy 2020! 
Resolution 1: Pay Down Principal if it Makes Sense
Private Mortgage Insurance (PMI) is expensive over the life of one’s loan. Therefore, paying down principal enough to either refinance your way out of PMI or where the bank can effectively cancel it for you will make your monthly payment significantly smaller, saving you several thousand’s over time.
Resolution 2: Don’t Neglect Minor Repairs
Minor repairs should be taken care of immediately to save big costs down the road. Addressing those repairs while they are still manageable, making it possible to do the work yourself will save you time, energy and money in the future.
Resolution 3: Start an Emergency Fund
You will be surprised the extra cash you’ll be able to accumulate by just putting a small amount away each paycheck. The key is to be consistent about it, and track your progress. Looking into an online savings account or shopping for the best interest rates on your savings account will add to your funds.
Resolution 4: Declutter Your Home
Some of the benefits of decluttering your home are obvious and immediate. The top contenders are saving time, avoiding the stress of hunting for misplaced items, saving money by not purchasing duplicates of items, and overall physical and mental health. Lastly, if you donate your unwanted items you are not only being environmentally conscious but also giving back.
Resolution 5: Assess the Value of Your Home
Be sure to contact your real estate agent for an up to date market analysis. Over the last year, average home prices have increased over 5% in the Lane Country Market, even more in many areas. With inventory remaining historically low, buyers are placing a premium on location and move in ready properties. Let an expert share with you what your property is worth, and unleash your new found equity in this sellers’ market.
Posted in Home Maintenance
Dec. 11, 2019

How Does the Real Estate Market Look for 2020!

Oregon Prediction for the 2020 Real Estate Year
Inventory will also remain lower than historical averages with the lack of available land for new construction (Inventory is currently and has been around 2 months and a “stable” market is typically 5 months). 2020 will continue to remain a seller’s market with the limited number of options for buyers to purchase compared the number of buyers wanting to purchase because of the low interest rates.  
The higher end market ($600,00 and above) has cooled slightly, but those looking to purchase or sell average priced homes (around $300,000) should expect much of the same we have seen in Lane County over the last few years.
Tyler Demers
R&R Properties of Eugene
Licensed Oregon Principal Broker
Cell: 541-912-1112
It looks as though 2020, will be an interesting year in the residential real estate market in Lane County. With it being an election year interest rates should remain relatively stable, which will be advantageous for buyers. Prices should continue to appreciate, albeit at a lower rate than previous years 5-7% annual gains. The appreciation will continue to put a strain on many first-time home buyers as they are often competing with investors, or those downsizing.
Interested in hearing more about the current market or investigating more about your local area or neighborhood. Follow the links below or give us a call!
(541) 505-9907
Kelly Chin
R&R Properties of Eugene
Acting Principal Broker
Cell: 541-337-9904
Arizona Prediction for the 2020 Real Estate Year
There are many people speculating on the housing market and when the next recession will hit. Although nobody can predict the future here is what I do know. The market in Arizona is still strong. We have over 200 people moving here daily and we have seen a steady increase in new jobs. What does this mean to you? Although the housing market may slow down and turn into a more evenly balanced market , I do not see the crash that we experienced in 2008. We do not have the adjustable interest rate loans coming due nor have we seen buyers being qualified with bad to no credit. We may see a small dip in prices but I believe we will continue to have a strong housing market for the foreseeable future. Arizona is a great place to invest in Real Estate for rentals, second homes or your primary resident. Call me for your Real estate needs.
Bill Nelson
Realtor
HomeSmart Elite
Cell: 602-653-0995
Information taken from Home Buying Institute
National prediction for the 2020 Real Estate year shows signs that the housing market will not slow.  According to Freddie Mac we can expect continued appreciation in the housing market for 2020 of about 3% on average. Interest rates are not expected to rise much with just a slight uptick according to the Freddie Mac. 2020 is expected to look a lot like 2019 with short supply and increased demand especially in the lower price point. Buyers seeking an entry level starter home may be in for a long wait which is why choosing the right Real Estate agent who knows how to negotiate is so critical.
Dec. 11, 2019

Tis the Season of Giving: Give Yourself the Gifts of Time, Freedom, and Peace

Tis the Season of Giving!
Tis the season of giving! Owning a rental property can be a rewarding experience, but using a professional property management company makes that experience even more enjoyable. We encourage you to give yourself the most value gifts of all Freedom, Time and Peace of Mind.
The Gift of Freedom & Time
A good property management company handles the day to day process with your property. Screening for quality tenants, facilitating maintenance repairs, any legal issues, collecting of rent and deposits, turnovers, marketing, annual tax reports, etc. You aren’t tied down and are able to focus on the more important things in your life!
The gift of Peace of Mind
No more late-night phone calls from tenants with maintenance emergencies! We use licensed and bonded contractors and vendors to ensure all repairs are handled the right way the first time and fast! Property management companies offer peace of mind, the assurance that you can go on with your life without having to worry about your property. That is priceless.
The gift of Money & Relaxation
We understand that your investment is you future and we want to maximize it any way we can. We will enforce the terms of the lease which results in a tighter rent collection. Renewing the lease in a timely manner instead of allowing it to go month-to-month allows for an adjustment of the rent rate. If you charge less than market value for the property, you aren’t collecting what you should be for rent, and you are losing money. Let us help!

As always, we look forward to speaking with you regarding any questions or concerns you may have! Don’t hesitate to call us today!

Nov. 14, 2019

Options When it Comes to Selling

 

 

 As we all know, the Real Estate Market tends to slow down during Fall and Winter months, therefore it can be more challenging for property owners to sell their homes. If you are struggling to sell at this time, we can help! For those who must sell, but the market is just not in their favor, an excellent option to take into consideration is renting their property. A few reasons why renting out your home may be the best option at this time.

 

Renting out your home can diversify investments and income streams, enabling one to reduce their financial risk. The goal is to generate a steady cash flow that can cover mortgage, taxes and insurance costs. Putting a little extra money in their pockets each month.

If any maintenance emergencies arise (especially during winter), it can be handled more efficiently with tenants occupying the property. Not to mention tenants usually pay most if not all utilities, thus keeping the home warm and the waterlines less susceptible to freezing.

Occupied homes will attract less crime. Drug users frequently seek out abandoned homes to squat in and with drug use often comes other more violent crimes. In addition to crime, other dangers that put entire neighborhoods at risk also result in people living in abandoned houses.

 

Of course we want to see you succeed in the sale of your home, therefore the goal is that they keep your property to sell in a more competitive market and at a better price! In the event you decide to sell in the future, we will gladly help with that also!

 

 

Because your investment is your future, we make it our focus!

Oct. 30, 2019

5 Tips For Cleaning Your Gutters

 

It’s a dirty job, but someone’s gotta do it! We’re talking about cleaning your gutters, which may seem like a thankless job, but a necessary one. If you haven’t ventured onto your roof this year to do the deed, now is definitely the time, as the leaves are falling (and surely clogging your gutters as we speak!). Here are five tips for making the whole process safer AND easier:

1. Keep it steady: Using a sturdy ladder is key to ensuring your personal safety and making the task as easy as possible. Make sure the ladder is placed on a flat, solid surface, maintain a 3-point contact (two hands and a foot, or two feet and a hand) while climbing, and never stand on the top two rungs, as it becomes more difficult to maintain your balance.

2. Dress the part: Thick, heavy gloves are a must when cleaning gutters! Sharp or jagged metal pieces along with screws or nails can pose a danger to your hands, along with debris that has accumulated in the gutters themselves. Don’t forget about non-slip shoes, long sleeves, and safety glasses for extra protection.

3. Time to clean: Once you’re ready to clean, follow a simple three-step process: scoop out any leaves and debris (keep a tarp or wheelbarrow underneath where you’re working to easily gather the gunk and keep your yard tidy), flush the gutters and downspouts clean with a hose, and repair any leaks as you go.

4. Cover it up: Investing in gutter covers can be a fairly inexpensive way to reduce clogging and the amount of work needed for next season. They are quick to install and come in a variety of forms, including porous foam, mesh screens, or clip-on grates.

5. Stay on schedule: Ideally you should clean your gutters twice a year. It may be a bit of a hassle, but maintaining your gutters can pay off in the long run, helping you avoid drainage issues that could potentially lead to more costly repairs.

Posted in Home Maintenance
Oct. 30, 2019

PROFITABLE BUSINESS FOR SALE!

PROFITABLE BUSINESS FOR SALE!
 Two Turn Key Businesses!
The Seller is selling TWO businesses together. All Pro Machine & Manufacturing and All Pro Steel. All Equipment & Inventory included. Located just one Block off Main St in Springfield, Oregon these businesses are set up for growth!
Full Service Machine Shop (Manual & CNC)
ALL EQUIPMENT INCLUDED!
6' X 12' ESAB Plasma Machine, several CNC and Manual Lathes and Mills, Onan Generator, Hydraulic Press, Surface Grinder, Various Welders, and Several Overhead Cranes just to name a few.  
Full Service Fabrication Shop
Established in 1991, this full service fabrication shop can make anything from steel you can imagine. You provide the imagination and they can fabricate to your specifications.
Full Service Retail Steel Shop
The sellers are retiring and looking for someone to continue in their success! Terms are cash and financing. Seller may offer financing on the real estate only, with the purchase of the business and equipment.  
Huge Growth Potential!
The buildings equal 11,222 sqft. It is fenced with five 15’ overhead doors. It has a reception area with 2 offices, a break Area and 3 restrooms. The main building of 6,500 sqft was built in 1974 with office addition in 2004. The warehouse building of 4,050 sqft was built in 2005 and has its own office.
Oct. 30, 2019

6 Tips to Buying in a Seller's Market

Summer is in full swing, and again this means many buyers (especially first time buyers) in our marketplace are faced with low inventory, multiple offers, and firm competition. We are years into a sellers’ market, and the pendulum doesn’t look like it will swing for the foreseeable future. The graphic above provides wonderful examples of how buyers can separate themselves from the pack. Some other ways to differentiate yourself as a buyer are.
1. Write a personal letter while presenting your offer. While the bottom line is often the determining factor for many sellers, a personal touch can also move the needle when competing with other offers. Let the sellers know a bit about you, and what type of stewards your would be to their home. 
2. Offer flexibility at closing! Rarely has your seller charted a seamless transition into the next phase of their lives be that another home, condo, etc. Offer the seller a week’s rent back after closing, at no cost. While this could costs a buyer a few hundred dollars, it could mean the world to sellers dealing with the business of everyday life.
We are here to walk you through the home buying process with little stress on your shoulders. Thinking of buying? Contact us today! (541) 505-9907 Email us!
Posted in Market Updates
Oct. 30, 2019

Heating and Cooling System Maintenance

Heating and Cooling System Maintenance

It's that time of year again! Summer is just around the corner and with that means longer days and warmer weather. With that it also means you're home mechanics may need servicing or maintenance. You're heating and cooling system can be very expensive to repair and/or replace, but annual maintenance is far less costly. Here are some maintenance tips. 
Swap Your Filters
A typical cause of heat pump problems is a lack of airflow within your system. Without unrestricted air flow, your heat pump cannot function at its optimal level. If you notice a lack of heating efficiency, an easy heating pump tune-up tip is to change out your filters. Swapping your old, clogged filters for new ones will increase your home’s airflow and allow your heat pump to run unencumbered.
Follow Manufacturer’s Instructions
If you’re looking for hints for maintaining your heat pump, or looking to solve problems like your heat pump only blowing cold air, then one of your best sources for guidance is your heat pump’s manufacturer. Check your owner’s manual to learn the best ways to care for your heat pump so that your Carefree Arizona home is always at the right temperature.
Deep Clean The Unit
Heating pump repair involves several important tasks, but the one that can be very effective at fixing your unit is deep cleaning your heat pump. Many heat pump problems are caused by blockages that keep its parts from functioning normally. By giving your heat pump a deep clean, you should be able to ensure optimal functioning at all times.
Clear the Area
As mentioned in the previous section, it’s possible for your heat pump to build-up obstructions that interfere with its operation. Because cleaning your heat pump can be difficult, it’s best to prevent these blockages by clearing the area surrounding your heat pump. Remove dirt, debris and other potential hazards to preserve your heat pump and keep it clean.
Feel Around the Unit
Making sure that your heat pump runs the way you need and deserve is a matter of constant vigilance, which means you need to regularly check that your pump is working correctly. When your heat pump is on, feel around the unit to see if the right level of hot air is coming from your heat pump.
Examine the Thermostat
Some problems with your heat pump may stem from an issue with your thermostat, especially if the wiring has gone bad or become disconnected. If your heat pump does not respond to your thermostat, check your connections to make sure your system is communicating properly.
Posted in Home Maintenance
Oct. 30, 2019

Do You Know the Cost of Waiting?

DON'T WAIT TO BUY!
Taking advantage of today’s near record low interest rates could potentially save you thousands of dollars initially and tens of thousands over the life of your loan! For example, using a 4% interest rate, a $300,000 home, $4,000 a year in property taxes, and a 20% down payment your payments (PITI) would be roughly $1,550/month. If interest rates increased to 5% (with all other factors remaining the same), and you wanted to keep your payments around $1,550/month you would now be looking at a $270,000 home. Depending on your local market a $30,000 swing in purchase price can mean an additional bathroom, RV parking, a bonus room, etc.
Tyler Demers
R&R Properties of Eugene
Principal Broker
C (541) 912-1112
O (541) 505-9907
Posted in Market Updates
Oct. 30, 2019

Eugene Real Estate Market Data (Nov. 2018)

family-home-banner.jpg
It's time for another Real Estate market data update! Here you will find current market data (including pricing, inventory, and more) for Eugene.
Price: The market is hovering right around this plateau, although the median list price is up from a couple of months ago.
Inventory: Inventory has been decreasing in all quartiles, with the number of new listings less than the number of pending homes ("absorbed").
Supply and Demand: It's still a seller's market, and if the upward trend in sales relative to inventory continue, expect prices to resume an upward climb.
Posted in Market Updates