Market Talk, S Oregon Real Estate, February 7, 2019

The Market is Talking and we’re right on top of it with the latest weekly stats.  As you look at the cart below, note the large jump in pending and closed sales from the week prior. Certainly shows an active real estate market with lots of activity taking place.  In following these stats, note we have the highest listing price of the year this past week.  The Cross Kaufman Ranch on Hillcrest is listed for $10M.  Of course, there are not many 3,700 acre properties like that around.  We’ll see how long it takes to sell.
If you want to learn about our Real Estate Market then this week’s Real Estate Show is for your.  Its a JLS Market Watch when Jim Remley and Shannon Pewtress share their insights into what the next few months hold for both buyers and sellers.
L-R Shannon Pewtress, Jim Remley and Pete Belcastro at KCMX.
Real Estate Show, Saturday 10 am KCMX AM 880,
You Tube:  youtube.com/realestateshoworegon
Market stats show who is buying homes across the USA. I believe it mirrors our own market here. What surprising is that 32% of home purchases are by first time buyers, and most of them are Millennials.  See how the market breaks down.Another mirror on the market is sales by price range. Like our own market, the vast majority of sales, 85%, are under $500K.
Last week’s Real Estate Show was a great discussion with George Kramer, historic property consultant and agent Stacey Boals, who sells historic homes.  We learned a lot about what it takes to keep these structures in good shape and who buys them.  There are, of course, both residential and commercial historic buildings and we discussed them all.  Watch on You Tube.  L-R,  George Kramer, Stacey Boals, and Pete Belcastro at KCMX
I was disheartened to hear that there are no more government incentives, like a 15-year property tax freeze, for buyers on the purchase of historic homes. Buyers need to be people who really love historic homes that have stories to share. My question of the day, “Are we building any historic structures today.” Think about that?
John L Scott Real Estate kicked of the 2019 selling season with a breakfast at Inn of the Commons earlier this week.  A great crowd of agents attended.
JLS Awards breakfast and market kickoff. Feb 4, 2019. And cheers to my Real Estate colleague Alice Lima pictured below who earned the Top 1% status of all JLS Agents. Way to go Alice! 

Have a great week:  Contact me anytime for Real Estate advice or information.
Call or Text   541 621 7036
email;   petebelcastro@johnlscott.com

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