Market Talk! S. Oregon Real Estate for March 27.

I hope this week finds you in good health as COVID-19 dominates our daily lives with changes nobody could have imagined a few weeks ago.  Having said that, Southern Oregon Real Estate is performing at an extraordinary pace.  Even with lockdowns and stay at home orders, last week saw strong activity across all three counties.  The sales stats below show what I mean. What is the world is going on? For starters, many of the sales and pending sales have been in the pipeline for weeks or months prior to the virus invasion and are working their way through the system. Interest rates remain in the 3-4% range thereby increasing demand for the available inventory that is on the market.  And finally, many people, due to life changes or circumstances have to sell or buy.  Will this last? Major questions still unanswered. It’s a topic Alice Lema and I explain more of on this week’s Real Estate Show, done via Zoom from each of our homes in keeping with new protocols of social distancing.
Above:  Pete Belcastro and Alice Lema, Real Estate Show this week.  ON Radio KCMX AM 880, Saturday at 10 am.   There inevitably will be a slow down in all this but, as we have said, it won’t last for forever.  Even NAR Chief Economist Laurence Yun, agrees.

Interest Rates remain a driving force in our market.  Next week Guy Giles of Mutual of Omaha Mortgage is our guest.  We’ll talk about financing with COVID-19 and what buyers need to know for obtaining loans in this environment.  Another question, is this a good time to refinance with these low rates?  Check this week’s sample mortgage rates below. 

Buyers and Sellers:  Here are new Real Estate protocols we are now undertaking, at least at the local John L Scott offices in Medford and Ashland and other agencies.  All listings are now shown by appointment only, even vacant properties.  Both residential and commercial showings apply.  Buyers are asked to fill this form before entering a home for sale.  Also, only those who intend to buy should see the home, no kids or friends.  Sellers also are helping by having the home ready to show by having many items open and able to see without a buyer touching items inside the home.  We are really entering a new era, unprecedented in these safety measures.

Please be safe.  It is important to talk with a Realtor about the current selling and buying situation.  Sales continue so do what is best for your current situation.   Alice and I are always available to talk with you directly.  Call or text:
Pete Belcastro, Principal Brokers, 541 621 7036
Alice Lema, 541 301-7980.  We also need a little levity while were stuck a home.  Have a safe week!