Market Talk! S Oregon Real Estate for June 28
Isn’t the Fourth of July your favorite time of the Summer? It is for me. Annual Breakfast at Ashland Elks Lodge 7:30-9:30 am open to all; the parade; then it’s off to Klamath Falls where my sister holds a block party with her neighbors that is quite an affair. Then its fireworks at the end of a long day.
There is no holiday in Real Estate, of course. Check out last week’s stats and you’ll see what I mean.
Numbers dipped a little in Jackson County but closed sales were up big time in Josephine County. One other note of interest, sellers received nearly 99% of the final list price. This indicates sellers are pricing properties much better.
One of my favorite Real Estate Show each year occurs when CPA Glenn Cunning, owner of Nagel and Padilla in Ashland joins us to discuss the nexus of Real Estate and Taxes. Property owners need to know about current tax laws and how they impact Real Estate investing, buying, selling, 1031 exchanges and more.
(L-R, Joe Brett, Alice Lema, Glenn Cunningham, Pete Belcastro at KCMX Studio.)
Show airs KCMX AM 880, tomorrow, Saturday, June 29, at 10 am. This show also marks the end of 10 years of the Real Estate Show with Pete and Joe the Real Estate Guys. That ends tomorrow as well. Beginning in July, its The Real Estate Show with Pete and Alice. Joe will still be a Real Estate Licensee but no longer a day-to-day Realtor. Thank Joe. He’ll be back to visit us during the year.
Did you know Real Estate activity across the USA makes up 17% of the entire economy? As a result, each home sold in the country generates a total of $84,724 for the US economy. The chart below shows how that figure is arrived at.
That national average, when broken down by state, shows Oregon is ranked #7 with each sale producing $116,840 into the economy. Hawaii is #1 at $246,300; California is #3 with
$173,130 and Washington state comes is #5 at $126,170. The West Coast remains the country’s most active market.
As our market continues to stabilize the biggest question asked is “Is this a good time to sell?” or “Is this a good time to buy?”
According to the National Association of Realtors, Home Survey, this may be a good time to do both. The boxes below show the confidence in both buying and selling right now.
Wow, 73% think its a good or moderately a good time to sell. While a good majority also think its a good time to Buy too.
Perhaps this confidence remains so because Mortgage Interest Rates continue to decrease. Rates on 30-year fixed rate as low as 3.825%. As long as mortgage rates remain in this range the fuel of summer selling is expected to continue.
Have a great week.
Please contact Pete or Alice for Real Estate questions or advise.
Pete call or text 541 621 7036
Alice call or text 541 301 7980