Market Talk! S Oregon Real Estate for March 6.

This week’s biggest story in Real Estate is Mortgage Interest Rates.   It’s dominated talk all week as borrowers are reassessing their situation to take advantage of this unique opportunity to buy, or even refinance your home.  Below are sample rates this week.  A friend of mine has already refinanced a home with a 15-year rate of 2.75%.  Wow!  Is it time to reassure your position as well?  These low rates could save you hundreds of dollars a month on payments. Jackson County voters face a tough decision in May.  A proposal for a new jail is on the ballot costing upwards of $170 Million.  Sheriff Nathan Sickler joins Guy Giles on this week’s Real Estate Show to explain changes the sheriff department faces in dealing with crime issues affecting citizens.  There are many of them too.  While the Sheriff talks about how he sees crime related to real estate, Guy Giles of Mutual of Omaha Mortgage talks about what happened this week which lowered Interest Rates to areas we have never seen before.  It’s an amazing show with great information.  Check it out KCMX AM 880, Saturday, March 7, 10 am.  Also on YouTube.
Bottom row: Guy Giles and Alice Lema, Top Row, Sheriff Nathan Sickler and Pete Belcastro at KCMX.
With so much attention focused on interest rate drops, did you notice an increase in pending and closed sales last week across Jackson, Josephine and Klamath counties? Check last week’s stats below.  Inventory levels are not keeping up with pending and closed sales and that is a trend we have seen for months.
Finally this week, tax refunds are on a lot of people’s minds.  See below that the average Oregon taxpayers will receive a refund of $2,574, which is below the national average.  What do you do with that refund?  Perhaps we historic interest rates that refund could go a long way toward a down payment on a new home.

It’s been quite a week.  We expect sales to pick up as interest rates remain this low.  How long it will last is the big unknown.  We may never see these low rates again.  If you need more information, please call or text us.  We love talking real estate and now its even more important than ever.
Pete Belcastro   call/text  651 621 7036
Alice Lema  call/text 541 301 7980.
Have a great week ahead!