I think for many of us, the journey into a new calendar year celebrates the passing of 2009 as much as it welcomes 2010. Let’s face it, 2009 was a tough real for just about everything economic. Back in 2006 when Southern Oregon real estate prices began their downward slide, we had no idea that market corrections would lead to a global financial meltdown. In hindsight (which for most of us is 20-20) we now realize that the high-water mark for real estate prices in the Southern Oregon real estate market was in the summer of 2005. That high-point for prices was nationwide, and unknown to many of us, the price pendulum had already begun to swing the other way. Of course, devaluation of property led to the financial disaster for many home owners as foreclosures and short sales dominated the Southern Oregon real estate landscape.

But one thing we know for sure. When prices hit their high-mark and the market begins to make corrections in the opposite direction, the high-mark always reaches a price that is higher that it ever should have been. These market corrections are driven by the laws of supply and demand and they work in both directions, up and down. Likewise, when prices plummet downward, they will sink lower than they should before the laws of supply and demand begin to send prices back the other way. This is where I believe we are right now. Prices have more than just hit the bottom… they’ve dipped well below where they should be. There are many homes on the market that could not be rebuilt for the listing price. In fact, there are some homes that are priced so remarkably low, it is amazing that they are still on the market.

Indeed, prices are now lower than they should be, just as they were higher than they should have been in 2005. So prepare yourself for the real estate recovery that will become fully recognized in 2010. It’s about time.

Michael Masters

A Socially Conscious Real Estate Consultant

It’s often been said that the only thing holding us back is our own individual fear of success. Fear can catch us in our own trap. Fear can hold back Buyers and Sellers in the Southern Oregon real estate market from making the right decisions. Fear is our own worst enemy. But control over our fears can establish confidence in those around us and in the long run, help to jump-start the real estate recovery.

As a Socially Conscious real estate consultant, I often counsel real estate agents in the Southern Oregon real estate market about Continue reading Fear of the Future and the Southern Oregon Real Estate Market

2009 will undoubtedly be remembered for the global economic meltdown, financial crisis, real estate collapse, and governmental bailouts. And as the Southern Oregon real estate market passes through this treacherous fiscal gauntlet, at times it becomes tough for homeowners, buyers, and sellers to hang on to a positive attitude. Yet recent studies show that the tougher the times, the more we need an optimistic attitude. Research now shows that a positive attitude not only leads to Continue reading Optimism and the Southern Oregon Real Estate Market