With one week to go in September, S Oregon Real Estate Market, while cooling a bit, remains pretty active especially across certain price bands. Lots of new listings are coming on line giving buyers a bit more negotiating power. However, only 18% of sellers, nationwide, are giving buyer concessions. That means 82% of sellers are not. Weekly Real Estate Activity. Holding steady is the best way to describe the market this past week. Overall things were up a bit> Note, there were more new listings than closed sales by a large number. See more below.
EQUITY IN YOUR HOMES
It pays to be a homeowner—quite a bit, actually. In certain parts of the country, it’s even wildly profitable. Cha-ching! Nationally, the average homeowner with a mortgage saw their equity shoot up by nearly $16,200 in the past year alone, according to a recent report by CoreLogic. (The real estate data firm compared the second quarter of this year to the second quarter of the previous year.) That’s a 12.3% annual increase, thanks to fast-rising home prices across the country. However, that not true in Jackson County where home prices on average, rose by 3.8% during that time period. In Josephine County it was 7.6% equity increase. Homeownership sure beats a money market or savings account doesn’t it.“It’s good news if you’re an existing homeowner. … You can certainly use that additional wealth as collateral you could borrow against if you’re looking to make some home improvements,” says CoreLogic’s chief economist, Frank Nothaft. “But it’s probably not good news if you’re in the market looking to buy.” Remember, 96% of all Oregon homeowners are now is positive equity in their homes.
SOUTHERN OREGON TOUR OF HOMES 2018.
Did you visit any of the 13 properties on the Southern Oregon Tour of Homes the past few weekends? If you did, you probably were surprised by the styles and finishes used today in new construction.
We talk about that and a whole lot more with Jessica Bennington, of Builders Association of Southern Oregon and Guy Giles, from Bank 34 Mortgage on last week’s Real Estate Show. (Both pictured at KCMX Studio). We update the Tour of Homes and also the latest information on mortgage interest rates. Check it out our video show on You Tube.Thank you for support our efforts.
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