My last post promised more information about going green and earning Oregon tax credits, but recent real estate news compels me to write about the latest information from the Standard and Poor’s/Case Shiller index.After 16 months of continuous declines in the national average for home prices of single family homes in the top 20 U.S. real estate markets, the declines have finally ceased. While admittedly the Southern Oregon real estate market is not in the top 20, San Francisco is and the San Francisco area is Southern Oregon’s primary feeder market.

For the last 3 years, homeowners and real estate investors have been asking the same question… have we hit the low point for home prices?

This statistic may be the first indicator that home prices have finally hit their low, however it will require several more months of statistical data before we can categorically declare that home prices are finally on the up-tick. Once prices begin to rise, we will begin to see a more aggressive posture among buyers as they scramble to buy at the low water mark.

And when the bottom feeders begin to pick up the bargains, the inventory of foreclosures, short sales, and distress properties will finally begin to shrink, bringing into the market those sellers who have been waiting on the sidelines for prices to stabilize. Yes, it’s good news for home prices and the Southern Oregon real estate market. Let’s hope that it continues.

Michael Masters

A Socially Conscious Real Estate Consultant

     

More on Topics: Estate, Home, Home Prices, Market, Oregon, Prices, Real, Southern, Southern Oregon, Southern Oregon Real Estate, Southern Oregon Real Estate Market

Tags: Estate, Home, Home Prices, Market, Oregon, Prices, Real, Southern, Southern Oregon, Southern Oregon Real Estate, Southern Oregon Real Estate Market

This entry was posted on Tuesday, May 5th, 2009 at 9:00 am and is filed under the category Grants Pass Real Estate, Green Real Estate, Michael Masters. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.