Southern Oregon Real Estate Blog

Southern Oregon Real Estate Rebound

2008-08-21T12:34:00.000-07:00

Recently the front page of a Southern Oregon local newspaper carried a headline proclaiming IS REAL ESTATE ON THE REBOUND? But turn to the back page of the same paper and you get a different headline: HOUSING STARTS HIT LOWEST LEVEL SINCE ’91. With so much conflicting news about the Southern Oregon real estate market, what is one to believe? No wonder Buyers and Sellers are dazed and confused!

Let’s start with the real estate Rebound. Is the southern Oregon real estate rebound true or just wishful thinking? According to the front page, median home sales in July took nearly a $20,000 dollar leap when compared with the median price in May of this year. Signs of a strengthening market? Definitely. Plus the number of home sales increased from 71 in May to 88 in June to 97 in July. Sales seem to be increasing along with the summertime temperatures.

But the gloom returns on the back page where the news told about the construction of new homes nationwide sinking to the lowest levels in more than 17 years. Given all the foreclosures currently on the Southern Oregon real estate market and the problems surrounding the financial giants of Fannie Mae and Freddie Mac, alarmists are having a field day.

However, with reasonable confidence, the real estate market in Southern Oregon and Grants Pass is on the road to recovery.

Grants Pass real estate deals disappearing Southern Oregon real estate values up!

2008-08-13T10:44:00.000-07:00

Here's the latest news on what's happening with Southern Oregon and Grants Pass real estate: Hurry up and come visit and vacation here because prices have stopped falling. Homes in Grants Pass are starting to sell and real estate in Southern Oregon has probably seen the bottom of the market. The reason for this improvement in the market is that affordability has improved. Grants Pass homes were not selling below $200,000 back in 2005 for one simple reason: There wasn't anything for sale in that price range. Now, a quick check of prices show hundreds of homes available below $200k and they are selling! I just tried to find a large brand new bank foreclosure for a cash buyer and it sold! All other comparable properties for sale in Grants Pass were unavailable at prices we couldn't even obtain just a few months ago. In other words, the great deals on Grants Pass homes and Southern Oregon real estate are fast disappearing and you should come take a look. Also, river rafting is a great event this month as the water in the Rogue River is still warm and we have gorgeous clear skies. The fishing is great right now on the upper Rogue for trout and soon the fall run of Salmon will begin. and if you plan on rafting or taking a boat trip on the Rogue River you will see the beautiful riverfront homes in Grants Pass and Southern Oregon. Now is a great time to visit and vacation in Southern Oregon More on my next posting

Harvard Study points to growth

2007-12-19T11:03:00.000-08:00

Just to keep things in check, a study commissioned by Harvard University shows that over the next 10 years the United States will need 19 million news homes to accomodate naturally occuring home attrition, the housing needs of immigration, and new buyers entering the market. All of this supports a strong future for builders and buyers, so despite the current credit crunch, time is on our side.

Ask The Expert

2007-03-03T15:25:00.000-08:00

Hi. I'm Michael Masters and this blog site has been created to provide answers to any questions you might have regarding Real Estate. As a Builder, Broker, and Developer I have compiled over 26 years of experience in the world of Real Estate that I would like to share with you. Please email me your questions for a direct response answer. Your privacy will be protected and the questions and answers will be posted on this blog site as they arrive.

Thank you for joining me and I hope to hear from you.

Michael Masters