S. Oregon Real Estate Forum, June 20, 2018

 

LEARN HOW TO IDENTIFY, CONTAIN AND REMOVE MOLD
Mold loves water and when the two mix the results can be expensive to remedy.  Karl Hamasu and Ron Gabbart of  Service Master of Medford, shared with us the various types of mold that exist in our region.  Where mold usually appears and what.  And best of all, how to remove it.  Tip: don’t do it yourself, you may only make it worse.  There are health implications with mold too, so don’t take it lightly  If you see black spots in your home around where water might leak it could be mold.  Hear the rest of the story from Karl and Ron on this show which is presented by the Rogue Valley Association of Realtors.  Gabbart is a continuing education instructor for RVAR on the topic of mold.

The Real Estate Show, above Karl Hamasu (L) and Ron Gabbart (R)

THE MARKET THIS LAST WEEK
from the MLS statistics June 12-19, 2018. Jackson County.

NEW LISTINGS:  109,   Range from $90K on a Stevens St. condo to $1.99M for 7140 Rapp Rd in Talent.

PENDING SALES:  78  Ranges from $99,900 on Blackwell Rd to $2.95M at 2770 Siskiyou Blvd. Ashland
which had been on the market for two years.

CLOSED SALES:   84   Range from $85,000 on 8th St in Central Point, to $2.15M for 2100 Pine Gate in Sams Valley.
Luxury market saw four new listings along with four sold luxury properties, two in Ashland, on in E Medford and one in Sams Valley.

WE’RE ON A DOWNWARD SPIRAL ON AFFORDABILITY
According to the following:  Housing affordability in both Jackson and Josephine counties peaked in November 2017. Both had affordability index above the score of 100.   By May 2018, the index had dropped 12.8% in Jackson County and 14% in Josephine.  This means fewer people can afford to purchase a median priced home. This just makes our housing situation even worse.  When will the affordability index be above 100?  Nobody really know.

Interest Rates this week held steady.
A 30 year Fixed rate is between 4.735% and 5.655%
Government loans for USDA or FHA are generally lower.
But affordability is a concern now as this will drive people out of the market and make it less affordable for all.
Join us this Saturday for a discussion on mortgage rates with Guy Giles from Bank 34 Mortgage and our resident mortgage expert. For every 1% rise in interest rates, we lose 10% of the buying market.  Guy Giles (L), and Joe Brett.
Buying or selling interest rates play a huge role in a transaction.  We have seen many loan programs designed for individuals who are self-employed to first- time-buyers.
Compared to high rent prices, it still makes sense to own.

 

 

 

 

FOURTH OF JULY COMING UP…..
We love this time of year.  I am also moving from my home of 25 years over the next two weeks.  Lance Landers IONIC ESTATE SALES is conducting my sale June 29-30 at 447 Monte Vista.  Moving is quite an ordeal and as a result we won’t be back with you gain until July 11 with more real estate news for you.
Enjoy the holiday and I’ll share with you the moving experience today or what downsizing is really like.
Pete