Friday, May 29, 2009

Interest rates low but rising.

This may very well be the time to buy, especially if you are obtaining a mortgage.

The bad news is that Interest rates are creeping up from an all time low in the 4.75% range to close to 5% due to unheard of Government borrowing levels.

The good news is this is Buyer's market! Right now inventory is bumping up and prices appear to be still dropping slightly. According to the RMLS, lock box activity is up over 13% in the last 2 weeks.

Give me a call today for a market overview at 541-999-0511!

Thursday, May 21, 2009

Tale of Two Cities

Right now the Florence inventory of residential homes has increased to 464 homes with an avergae list price of $279,ooo and averge DOM of 301. Last month, 13 actual sales averaged $200,000 with an average DOM of 120 days.

The Eugene Sringfield area has 1415 residential properties for sale with average list of 307,000 wth average DOM being 135. The last 30 days produced 171 solds with an average sale price is $242,000 with an average of 93 DOM.

My point is simple. Many Florence real estate practioners seem to lack the courage or professionalsim to properly advise their clients as to what the market is actually doing. Compare the paltry 2.8% of market tunrover/month in Florence to Eugene's 9.5% or just look at the average Days on Market. The market will respond to value.

Sunday, May 17, 2009

102 nd Rhododendron Festival in full swing!

As of this posting, the market is basically unchanged since the last posting witth the exception of there being 457 residential properties now available.

The sunshine is out and there are plenty of people in town for the 102nd annual Rhododendron festival this weekend! Each year the town's population swells from 8500 to over 50,000 for this miniture 3 Mardi- Gras in the streets.

Thursday, May 7, 2009

Florence Real Estate Reality!

As of this posting we have had 11 residential sales in the Florence area in the last 30 days. The average sale price was $205,000 with an av list price of those 11 sales being $218,000 and av DOM (days on market) of 174.

On the other side of the coin we have 450 residential properties listed at an average "asking" price of $280,000 and an average DOM of 300.

Even though we have seen a substantial bump in showing activity, one fact and reality remains. If your property is priced correctly, it will sell. The smoke and mirrors market created by "list at any price" real estate companies is over!