Market Talk! S Oregon Real Estate for August 2

I think folks in So Oregon have a right this week to be upset at how fire officials responded to the first fires of the year.  Choking in smoke for a week was not good for people’s health, or our economy.  Realtors reported many canceled trips by potential buyers.  Despite the smoke, the Real Estate market continues at a steady, normalizing pace. Check out last week’s stats below.
Pretty steady market.  Oregon’s new Landlord Tenant Laws took effect last February.  On this week’s Real Estate Show, tomorrow 10 am KCMX AM 880, we’ll explore the implementation and unintended consequences of this law that has shaken the rental housing market quite a bit.  Attorney James Stout joins me and Alice Lema for quite a discussion on this topic that affects so many people on so many different levels. L-R Alice Lema, James Stout, Pete Belcastro at KCMX Studio.
Real Estate Show, Saturday, October, 3, 10 am KCMX AM 880 Radio.
We’re continuing to look at color and what’s the best and worse use of color. Many times the wrong color can turn a potential buyer off.  Today, Barn Red, and yes we see this color more times then you think.Housing prices nationwide have inched up 5% overall the past year.  In S Oregon, its a different story, as urban prices were up 2.6%, while rural properties dropped by .1% . The chart below shows each state and its real estate price increases. Topping the chart is Idaho with a 13% plus increase.
Alice and I travel across Jackson and Josephine counties in search of the perfect property for our clients.  We also take lots of photos.  We thought we’d share one each week of a scene we witnessed showing property.  Below, wouldn’t you like to wake up to this scene every morning  Home is on Mill Creek Rd, near Prospect.
This is a lovely spot that I didn’t want to leave from.  Upper end of Lost Creek Lake.
Interest rates this past week remained steady.  Rates were in the 3.85% to 4.75% range.  Checkout the full range of rates that keep our market active.
And finally this week, do you think a recession is coming to the USA? Last recession was created mostly by the housing bubble that burst.  CoreLogic chart below shows when economic experts think the next recession will hit.  What do you think?  I believe we still have more economic expansion in our future rather than recession, although, one will be coming something in the future.Right now we’re in the middle of the largest economic expansion in US history.  That keeps buyers and sellers on the move.  Have a great week!
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