Market Talk! S.Oregon Real Estate for June 26.

Summer is in full swing now and real estate sales are approaching a normal selling season.  However, inventory levels are low and demand remains high in most price categories. Mortgage interest rates are hoving at about 3% for 30 year fixed rates mortgages, and even less for other loans. Check out last week’s sales stats and you can see pretty consistent activity across all three southern Oregon counties. Economic activity has been altered in 2020 so much that when it comes to filing taxes next year what should you expect?  Glenn Cunningham, owner of Nagel and Padilla CPA in Ashland answer some of those questions on this weekend’s Real Estate Show.  Glenn joins Alice Lema and me or a discussion on how COVID-19 will affect tax filings, and how stimulus money must be accounted for.  Basically, “there is no such thing as a free lunch.” Join us KCMX AM 880, Saturday 10 am Sunday at 6 pm.
The program airs Saturday, and Sunday, June 27 and 28. With summer in full swing now, let’s take a look at the water levels in reservoirs in the region.  The news is not very good.  The red line indicates water levels in 2020 which are far below average levels.  Irrigation, recreation, wildlife are all affected by such low water levels in reservoirs and streams.
With interest rates at about 3%, John L Scott has embarked on a campaign for listings. They are down overall by about 30% to under 700 listings in Jackson County.  Pending sales and closed sales are far outnumbering new listings. So for buyers and sellers knowing the current market is important and how to respond to it even more. This can be a great opportunity for both buyers and sellers in ways we may never see again.
Talking real estate is what I do best.  Call or text anytime. We can create a plan to get you the results you seek.
Pete Belcastro, 541 621 7036.
Have a great week ahead!