These days the Southern Oregon real estate market, along with real estate markets across the country, are dominated by short sales and foreclosures. For the past 2 years, real estate experts have continued to predict that until the inventory of short sales and foreclosures diminishes, overall property values will continue to be depressed.

Imagine trying to sell your home by competing on price against short sales or foreclosures. It doesn’t take an expert to predict that the attainable price for a non-distressed property has been driven downward by market conditions, and the Southern Oregon real estate market is no exception to these circumstances.

So what are sellers to do? Continue reading Short Sales, Foreclosures, and the Southern Oregon Real Estate Market

Some real estate markets are more protected than others. For instance, take Ashland real estate. In the last 90 days, the median price from homes in Jackson County is $186,000. That means that half the home sales were for more than $186,000 and half the home sales were for less. But in Ashland, the median price was $328,000. Wow. That’s quite a difference. And it tells us that Ashland real estate is some of the most prized real estate in the Southern Oregon Real Estate Market.

What is it about Ashland that makes it stand out Continue reading Ashland Real Estate and the Southern Oregon Real Estate Market

Attaining the Oregon Dream is as old as the Oregon Trail itself — that historic mass migration that began in 1843 when around 1000 rugged pioneers struck out from Missouri to travel over 2100 miles in pursuit of their dreams. Life on the Oregon Trail meant a difficult 6 month journey moving only 15 miles per day. The invisible force driving the pioneers west was nothing more than a dream — the dream of owning your own homestead in a land rich with beauty and natural resources.

Many of these early pioneers were among the first to discover the joys of life in the Southern Oregon real estate market. Of course in those early days, Southern Oregon was undefined as a region. Today, the passage of time has defined Southern Oregon as that land beginning around Canyonville and moving south to the California border. And the Oregon Dream has not wavered. Recession or not, people still set their sights on the Southern Oregon real estate market as the place where dreams can come true.

Lately much has been written and said about the tremendous values in real estate available in Southern Oregon. As a region, we continue to Continue reading The Oregon Dream and the Southern Oregon Real Estate Market

Like the Sleeping Giant in countless fairy tales, the Southern Oregon real estate market is finally awakening from its deep slumber and regaining consciousness. And like the Sleeping Giant that awakens, the Southern Oregon real estate market must rub the sleep out of its eyes, yawn, scratch, and stretch before finally struggling to its feet. Then, once upon its feet, it will no doubt require several cups of coffee as it bumbles around shaking off the sleepy-time grogs.

Intoxicated and seduced by the greed of the sub-prime market, the Sleeping Giant has been in a near-comatose siesta since real estate’s high water mark of May, 2005. That’s been 4 years ago and the Southern Oregon real estate market is just now awakening and struggling to regain consciousness.

But to overwork the metaphor, like a Sleeping Giant nursing a horrific hangover, the temptation to return to bed, pull the covers overhead, and fall back into a deep slumber remains a possibility, one that we hope does not occur.

Instead, it is our hope that Continue reading The Sleeping Giant Awakens In The Southern Oregon Real Estate Market

Recent statistics for July point to a national increase in new home construction nationwide and this is good news for every builder who has been waiting to return to work. Here in the Southern Oregon real estate market, most builders now accept the new reality of going green as the future of new home construction. Breaking out of a comfort zone has always been a challenge and going green is no exception.

From a pragmatic stand point, for builders going green means learning about new building technologies and then applying them to the trade. For buyers in search of a new home, going green means digging a little deeper into the pocket book. Fortunately, recent surveys are encouraging. Buyers are willing to pay more for the long-term money-saving advantages of going green. With the tighter framing envelopes of new home construction, power bills will go down for the life of the home and this is a feature worth investing in.

The Southern Oregon real estate market reflects the nationwide trend as developers explore the trend of going green. For example, the Summer Field subdivision in Grants Pass will be a subdivision of new homes with a green component that includes increased state-of-the-art insulation and a solar-power generation component.

Yes, the last year for the housing sector has been challenging, but the future of new home construction has never looked better. No one ever said change would be easy… that is, until it’s behind us.

Michael Masters

A Socially Conscious Real Estate Consultant

From my perspective as a real estate professional in the Southern Oregon real estate market, I’ve been dealing with the human complexities of economic recovery for a market turned upside down since 2006. I can accurately report that economic recovery has been making incremental forward progress over the last year as the foreclosure market evolves. For over two years, the growing number of foreclosures was traceable to the increased payment load for borrowers stuck with variable sub-prime loans converting to higher interest rates, and the accompanying increased payment load broke the back of many home owners.

But lately, borrowers with fixed rate mortgages are joining the ranks of the distressed as foreclosures proceedings respond to the fresh fuel of unemployment. Even the affordable 30 year fixed rate mortgage payment can become a home wrecker when a borrower can’t find work. Before the economy can begin to truly heal, recovery for the Southern Oregon real estate market means enduring the hardship that comes from unemployment. And amid this bleak reality stands the good news that while the numbers of foreclosures are still cause for alarm, at least the numbers are diminishing.

Meanwhile, milling in the darkness are the forecasts of many experts that point to an end of the Great Recession as financial declines grind to a halt and the indicators for growth begin to point to an impending economic recovery. With a little luck and a lot of patience, the U.S. and global economies at large will begin to correct themselves, employment will rise, and distressed borrowers will find a way to stay in their homes.

As we struggle for economic recovery on the national, global, and local level, I am drawn to the good news for young, trustworthy Buyers: take advantage of the low prices, excellent interest rates, and an $8000 tax credit to make your dreams for home ownership come true. The window of buying opportunity is currently wide open but it will be closing soon. And this could be the best time to get up off your hands and sign on the line that is dotted.

Michael Masters

A Socially Conscious Real Estate Consultant

Take it from me, there’s nothing like summertime in the Rogue Valley. Between the great weather and the long list of activities, there’s never a dull moment. And real estate activity always picks up as visitors from out-of-town make the decision to search for property. Once they begin the search, it doesn’t take long for visitors to discover that summertime in the Rogue Valley can easily become a year-round adventure as they lay claim to property in the Southern Oregon real estate market.

And at the moment, the Southern Oregon real estate market is loaded with buyer bargains for anyone who wants to move to the Rogue Valley. Not long ago, Grants Pass celebrated “Hot Summer Nights” and hosted hundreds Continue reading Summertime in the Rogue Valley and the Southern Oregon Real Estate Market

These days, sellers in Grants Pass all seem to be asking the same question. Has the Grants Pass housing recovery started yet? They ask this question because for a lot of sellers in the Southern Oregon real estate market, they’d love to sell their home for a fair price and move forward with other life choices, like relocating for a better job or moving into larger or smaller digs. Unfortunately, the answer continues to be “maybe.”

Statistically, after three years of intense price declines, the nationwide recovery for the housing sector appears to have begun. The Case-Shiller housing index for the top twenty cities in America reported Continue reading The Grants Pass Housing Recovery and the Southern Oregon Real Estate Market

While there seem to be plenty of headlines being made about the beginning of the end of the Great Recession, there are still a great many homeowners nationwide and in the Southern Oregon real estate market, that need a mortgage modification in order to avoid losing their home to foreclosure because they can no longer afford to make their full mortgage payments. If you are seeking a mortgage modification, here’s what you can expect.

To qualify for the “Making Homes Affordable” program set up by the government to assist you with a mortgage modification, the mortgage in question must be on your primary residence, it be worth less that $729,750, and it must have been written before January 1st, 2009. Additionally, you will have to show proof that you’re a having difficulty making your payments and that your current payment is more than 31% of your gross income. And if that’s not enough, if you owe more than your house is worth, your lender will be reluctant to accept anything less than the full amount due.

But don’t despair. There is help out there for homeowners Continue reading Mortgage Modification and the Southern Oregon Real Estate Market

I’ve been blogging for months now about the Southern Oregon housing market recovery by focusing on Grants Pass real estate and Medford real estate, as well as homes throughout the rest of the country. Now there is evidence both from my personal sales in the Southern Oregon real estate market and from the Case Shiller home price index that we’ve finally turned a corner.

It seems that 15 of the top 20 markets in the country have seen either price increases or no declines at all for the month of May. In some of my previous blogs, I wrote that the bottom of the housing market was June 2009. Interestingly, Jim Cramer of CNBC’s Mad Money feels the same way. Admittedly, we’ve all been wrong before but on his July 28th show Jim told his viewers that those who wait for evidence of a turnaround in the housing or stock markets will be missing out on the great buying opportunities.

Now, to be fair, Jim actually called the bottom of the market in Continue reading Grants Pass Real Estate, Medford Real Estate, and the Southern Oregon Housing Market Recovery