These are certainly unprecedented times in our country and Real Estate is not exempt from it. We are three weeks into our statewide “stay-at-home” order, yet Southern Oregon Real Estate continues to perform beyond our expectations. Note last week’s activity below: Notable — the number of new listings held steady from previous weeks; yet, pending sales are down from the previous two week period by almost half. The median price paid last week in all three counties was a record high price.
With sales activity comes lending and mortgage rates. So this week’s Real Estate Show discusses the latest in mortgage rate and refinancing with Guy Giles of Mutual of Omaha Mortgage. Rates, which rose a bit last week, in general, remain below 4%. So it appears sellers are increasing our available inventory and buyers have a larger supply to choose from. But, the way homes are shown today and what precautions are being taken by agents is also part of this show. Join us at 10 am, Saturday, April 3, KCMX AM 880. Above, Alice Lema, Guy Giles, and Pete Belcastro. This program was recorded on Zoom, in keeping with social distancing guidelines. Our economy will recover. At least that’s what Goldman Sachs forecasts for the USA. I hope they are correct. Check how much below.
Even though our economy is taking a tumble due to the COVID-19 virus, real estate is in a much healthier position than in 2008. The risk of foreclosure is low. Finally this week, we are all spending a lot of time at home. We have some ideas to pass the time when you’re not working at home, taking care of the kids or walking the dog. Now is a good time to make your home even better, more attractive while increasing its value. Here are some ideas to pass the time away at home.
If you have any questions or would like to talk more about the market and how new protocols are being used to buy and sell, Please call or text us anytime.
Pete Belcastro 541 621 7036
Alice Lema 541 301 7980
Have a great week. Stay safe. Keep your social distancing going.