Market Talk! S.Oregon Real Estate for Feb.28
We watch SOMLS stats closely because they tell us the real story of the current market. No place else can provide that information. We update our stats each week for you and this column. Once again, while we’re preparing for the Spring Selling Season new listings remain elusive compared to pending sales and sold properties. Check them out.
One year ago today, Oregon’s newly passed Rental Control Laws went into effect. They went into effect just two weeks after being passed. On tomorrow’s Real Estate Show, 10 am KCMX AM 880, Medford Attorney James Stout joins Pete and Alice for a one year review of the new laws and what the implementation has been like for landlords, renters, investors, rent increases and more. One year later, the results are a mixed bag,
Above: James Stour, Alice Lema, Pete Belcastro at KCMX.
The highlight of the week is that mortgage interest rates have remained on a lowering trajectory. Check this week’s sample rates. Of course check with your lender for more details.
With rates like these, they are the fuel that is driving our real estate market. Many folks are also refinancing, so take a look at your situation and that may be an option to lower your monthly payments.
Finally, this week we want to give a shout out to Bear Creek Greenway officials for their program of removing blackberry briars allng Bear Creek. These two photos show how much new land is created for wildlife, birds etc. when the briars are removed. Plus it just darn look a lot more natural and beautiful then before.
The three busiest real estate months of the year are up next for us. March, April, May are the real kickoff to the 2020 real estate market. We will keep you updated as we go through it.
We love talking real estate, so text or call or write anytime.
Pete Belcastro 541 621 7036
Alice Lema 51 301 7980.
Have a great week ahead.