S. Oregon Real Estate Forum, July 11, 2018

Hope you had a terrific Fourth of July Holiday.  Real Estate sales didn’t take a vacation. In fact take a look at the June Stats from the Southern Oregon MLS.comparing June 2017 and June 2018. Basically, in Jackson County pending sales were up 5% from a year ago while new listings fell 9%. With feweer listings, the average days on market fell 14% to just 36 days county wide all properties.
HOW WE’LL BUY AND SELL REAL ESTATE IN THE FUT LENNOX SCOTT
What a treat on last week’s Real Estate Show.

Lennox Scott is CEO of John L Scott. He is the grandson of the company founder and a national leader in real estate.  He is interviews by the managing principal broker of John L Scott Medford/Ashland Jim Remley.  These are two fellas who share their knowledge about how we’ll be buying and selling real estate in the future. Technology is changing the way brokers work with buyers and sellers. It changes the way buyers search for properties and more.  This show is a fascinating discussion with two national leaders in real estate.

HOME STYLES, DO YOU KNOW THE DIFFERENCE
On every real estate transaction there is a line on the agreement, indicating the style of home being listed. Do you know the various styles of homes that we find everyday around our communities.  See if you know can tell the differences.
Which style do you live in? Below are the various styles of roofs and windows.  We all see them but can we identify them?

REAL ESTATE SALES FROM LAST WEEK, July 3-10, 2018
The holiday didn’t seem to slow things down.  This information comes from both Jackson and Josephine counties.
CLOSED SALES – 82,  Range from $70000 on Pinewood in Cave Junction to the largest sale of the year so far.  A closed deal for $4.995Million for 4184 Bellinger Lane in Medford. This listing went on the market in July 2017.  Original list price was $8,995Million.  Ended up selling for half the original listing price.

PENDING SALES – 106  Range from $80000 on Bainbridge in Cave Junction to to $1.2 Million for 461 Harvard Place in E Medford.

NEW LISTINGS – 126 . Range from  $99,000 Cedar St in Medford to six new luxury or Million dollar plus homes.

DEALING WITH NEW TAX LAWS ON REAL ESTATE, PLAN NOW ….
New USA real estate tax laws are now in effect for all who own real property.  Some of us are owners, some investors, some have second homes, some own commercial property. The new tax laws will effect each of those particular areas.
Hear more from CPA Glenn Cunningham (pictured below) who explains what to expect when you file tax returns next year.  Have a great week.  Remember we’are always available to answer questions or assist with real estate advice where we can.