S Oregon Real Estate Forum, October 31, 2018

Happy Halloween! Hope your day is an enjoyable one.
Real Estate activity in Jackson and Josephine counties continues with plenty of activity across price ranges and neighborhoods. Our summary from last week shows fewer closed sales and new listings, but an increase in pending sales.  So activity remains brisk. The luxury market also shows signs of activity after months of little action.  See below.

By the way, Jackson County’s purchase of 47 acres of land for a new jail just may end up being the largest real estate deal of the 2018. If completed, the acreage located near the current Sheriff’s office off Highway 62 would cost $6.4M.  Building the jail will cost another $100 million but that issue is for another day.  Note, however, the new Eagle Point listing this week for $6.25M too.
For the next two weeks on the Real Estate Radio and You Tube TV Show will focus on getting your home ready for winter and to sell next spring. Let’s talk about roofs.  It’s some thing we have in common, we all have a roof over our heads.  However, the condition of those roofs vary from house to house.

That’s why Mark Root, a local contractor who specializes is roofing, will join us to discuss this.  I can’t tell you enough that the condition of your roof matters in a sale and the value of your home.  Mark will share his experiences in new roof types, installation, care and maintenance.  Don’t let a roof spoil your home. Take care of it now.  Mark joins us for the November 10 show.  10 am KCMX AM 880.
Also joining us on November 3, is Tom Hinton, from All American Inspections in Medford.  Have you ever seen such a mess as below. Electric panel meddling can lead to situations like this.  It happens more than you think.  A home inspection might just be the best thing you can

do to get your home ready to sell.  We’ll talk with Tom about pre home inspections and what they entail, and what sellers should expect when the home inspector comes to your house. Home inspections can kill real estate deals more than anything else. Learn how to avoid problems. If you’ve owned your home 20 years or longer and your haven’t done any updating, this may be for you.  Tom joins us this week.
Did you receive your property tax statement in the mail this week like me?  Did you notice that real estate values continued to rise. Jackson County valuation is up 11% overall.
Since the low point of 2012-13 things have changed.  According to Assessor Dave Arrasmith, who was a guest on our show recently,
99.9% of all residential properties increased in Real Market Value  during calendar year 2017, which the report is based. Less than .01% decreased in value.  Also,Commercial properties increased in value by 8% overall, industrial properties increased by 20% overall in value and multi-family experienced a 22% growth in value during 2017. FYI, double digit growth is not sustainable.  Residential growth has been at 11% for the past two years.
Lots of activity going on, so if I can assist or answer any questions, let me know.  Love to hear from you.

email:   petebelcastro@johnlscott.com
call or text:  541 621 7036
Have a great Week!

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