Market Talk! S. Oregon Real Estate for March 20

Spring has officially arrived in the Rogue Valley and with it begins the three busiest real estate months of the year.  Check out last week’s MLS stats and see how the market is doing. Look at the pending sale totals.
What is the best Week of the Year to List a home?   You may think it doesn’t really matter, but if you read the box below, you’ll find out the truth. It’s coming up soon, the Best Week of the Year to List.  Last week’s Real Estate Show was all about Senate Bill 608, Oregon’s new statewide rent control laws.  Danielle Remley and Toni Thomson from Sterling West Property Management shared their thoughts on how this new rental law will be put into effect.  It’s confusing for everyone on some level. Check out the show on You Tube to understand its ramifications for landlords, renters and investors.
(L-R Toni Thomson, Danielle Remley and Pete at KCMX Radio Studio)
Speaking of the rental market.  We know it follows the general residential real estate market on several fronts.  For example, the average renter pays $1,472 and grew 2.4% in the past year.  What is the average for Medford rents.  See the chart below!  It’s higher than the national average and rents have risen considerably since 2011 although not in the past year.
We have a treat on this week’s Real Estate Show .  The Rogue Valley Association of Realtors presents a look a possible legislation that would effect the Real Estate industry and private property rights in Oregon. Stacey Boals, Past President of  RVAR and Vice Chair of RVAR’s Political Action Committee and Greg Addington, RVAR’s Government Affairs chief spill the beans on what is coming down the line from the Oregon Legislature.

(L-R Stacey Boals, Greg Addington and Pete Belcastro at KCMX Studio.)
A lot of it is not good.  There are attacks on mortgage interest deductions, independent contractor status, senior property tax exemptions and more.
Check out the latest interest rates for various loan types.  Note that both conventional and FHA Loans are as low as 4.375%.  That bodes well for spring residential sales.
Have a great week ahead.  If you need any advise or someone to talk with about your situation.
Call or text to 541 621 7036
email  petebelcastro@johnlscott.com



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