Market Talk! S. Oregon Real Estate for Oct 11
We have been following the Fall Selling Cycle with great interest the past few weeks. I am always amazed at how consistent sales activity has been across Jackson, Josephine and Klamath counties. Note that pending sales are far exceeding new listings in two of the three counties. Inventory supply is declining.
You’ll want to watch this week’s Real Estate Show. Saturday, October 12, at 10 am KCMX AM 880 and YouTube video. We cove a lot of topics relating to commercial real estate activity with Frank Mania, marketing manager at Ticor Title. Commercial real estate is as active as residential real estate is. Also, Dave Tribbet, V3 Consulting joins our discussion sharing his vision for a new innovation and education center he is hoping to bring to Medford. This is information you won’t find anyplace else.
LR Alice Lema, Frank Mania, Dave Tribbet and Pete Belcastro at KCMX Studio.
One of the questions often asked is “how much down payment will I need.” I bet if you asked 25 people you might get 25 different answers. The chart below shows the percentage, US homeowners paid as down payments in the purchase of a home.
What surprised us the most was that one-third of all sales down payments are from 0 to 5%. But coming in second was 15-20% and I bet most were 20%. The reason, no mortgage insurance is included in your closing costs and monthly payments. Surprising to me was only 10% paid cash for the deal.
Finally, this week, if you’re arent or you know a renter show them this chart. The average rental rate in Medford is now at $1.556 per month. Look how high rents have gone up since 2011.
Medford now has a distinction of rental rates above the national average of $1,483. Mortgage interest rates come down last week across all categories as indicated by the green numbers below. Our strong economy in part is being fueled by these low-interest rates. They are a strong driver of our overall economy.
Have a great week ahead. We love to hear from you, please write or text Pete or Alice anytime.
Pete Belcastro email@example.com
call or text 541 621 7036
Alice Lema firstname.lastname@example.org