S Oregon Real Estate Forum, October 24, 2018
We actually saw a bit of rain fall this week, which reminds us that more is on the way. That also means more mud and if you own animals, lets throw in manure with it. That’s why last week’s Real Estate Show is a must watch for rural landowners. Did you know, for example, that it is against Oregon law to dump mud and manure into the state’s streams and river. Does your property comply with this law? If not, you could be fined. So hear how Clint Nichols of the Jackson Soil and Water Conservation Division explains the latest ways to mitigate mud and manure runoff from your property.
Clint Nichols, JSWCD Rural Planner and Pete Belcastro at KCMX Studio.
Clint will actually come to your property and give you a man and manure evaluation at no charge. It’s well worth it with Winter approaching and a lot of new residents living on rural lands. Watch Now!
Last Week in Real Estate showed fewer pending sales and new listings but an increase in closed transactions. The market remains active across all platforms as you can see below.
Be sure to return your ballots for the November 6 mid term election. Ballots have been sent out to voters. We usually have a pretty good turnout so don’t let us down.
This week’s Real Estate Show, is all about Mortgage Interest Rates and where they are currently and what lies ahead for them. Guy Giles from Bank 34 Mortgage, our resident expert will join us Saturday, October 27, at 10 am KCMX AM 880 to explain the latest news and how buyers can still take advantage of great loan programs.
Finally this week, as our market normalizes over the next few months, one of the reason for this is an increase in inventory. Available homes in Jackson and Josephine counties are up from a year ago, September. Individually, city of Phoenix inventory is up by 166%, while Illinois Valley is up by 52%. Areas where inventory is down include a 5.5% decrease in West Medford and a 4.2% decrease in Northeast Grants Pass.
Remember, this increase in inventory, coupled with rising interest rates are responsible for a normalizing market. Buyers have a bit more negotiating power and Sellers need to price their properties accordingly to this market.
Have a great week everyone.
Please contact me if you need any real estate questions answered for you.
Pete Belcastro
541 621 7036
petebelcastro@johnlscott.com