“Money, money, money makes the world go ‘round.” So says the song writer. In fact, money does much more than just that. It can enrich your life by providing affordable comforts and financial security — and it can also make your world crash down around you when you lose it. The Southern Oregon real estate market, like elsewhere in the country, has had its real estate values traumatized since the bubble burst in 2006. Today, the supply of money is very much in the headlines and a look at money and the market is worthwhile.

Turn back the clock. Herbert Hoover was barley in office for 9 months before Black Tuesday arrived, October 29, 1929, and the stock market crash was heard around the world. President Hoover’s immediate solution to the economic distress was to cut taxes in an attempt to put more money into the system and to encourage spending. However, after two fruitless years of Continue reading Money, Money, Money, and the Southern Oregon Real Estate, Part I

As it draws to an end, 2009 continues its slow advance toward recovery. We’re probably all in agreement on this one; 2009 has been a formidable year for the economy. The Southern Oregon real estate market joins the nationwide real estate market with unsettled issues regarding the Housing Sector as we approach 2010, and yes, there is good news. The good news for the stock market is that the Dow Jones is inching over the 10,400 mark and appears to be gaining strength. The good news for the housing sector is that the numbers for sales and median home prices have shown steady increases for the last three months in a row. But the overall recovery news is mixed. The unemployment rate has pushed over 10% and is responsible for Continue reading Commercial Real Estate and the Southern Oregon Real Estate Market

Oh, if only the problems of the world could be solved with the writing of a single blog. But we all know better; most problems are easy to identify but tough to solve. Short sales in the Southern Oregon Real estate market are no different, and despite my own self-imposed skepticism, I will point out some obvious problems with the short sale process and suggest a simple way to streamline the procedure.

A short sale occurs when a homeowner attempts to sell his home for a price that is less than what is owed on the mortgage. It is incumbent upon the seller to inform the bank of the their intentions to sell for a reduced price, but simply informing the bank is no guarantee of lender cooperation. Often the short sale is additionally complicated by 2nd and 3rd mortgages that are attached to the deed and must be removed before the deed can be transferred to another owner. Nevertheless, the mortgage holder in the first position has Continue reading Short Sales and the Southern Oregon Real Estate Market, Part II

We’re turning the corner in the Southern Oregon real estate market. Here’s why:

Those of you who follow the news have probably heard that unemployment claims are at their lowest numbers in months. Add to that, a stock market rally last week that sent the DOW over 10,000, it’s highest level in over a year. And as of this writing, the DOW continues to rise.

So how does this good news in the markets effect real estate? Continue reading Turning the Corner on the Southern Oregon Real Estate Market

Has anyone noticed what’s happening to the price of gold lately? This precious metal has risen steadily over the last year, gaining 6% in value in 2008 compared with the 50% slump with other assets. Gold is currently at $1,050 per ounce and last week gold rose $41.30. Why all this interest in gold? The recent demand for gold from investors has Continue reading The Price of Gold and the Southern Oregon Real Estate Market

Remarkably, after a year of intense rafting on the river of financial crisis we’ve somehow managed to avoid either a complete collapse of our economic system or a slide into another Great Depression. But in the process of surviving the current crisis that has come to be known as the Great Recession (we have survived, haven’t we?) we are now coming to grips with the bitter reality that the financial security we had all become accustomed to will take much longer to return to that warm and fuzzy place we call a financial comfort zone here in the Southern Oregon Real Estate Market.

Knowledgeable economists now inform us that the worst recession Continue reading The Great Depression, Recessions, and the Southern Oregon Real Estate Market

As a real estate professional specializing in consultations pertaining to the Southern Oregon real estate market, it is my job to keep track of statistical data in order to better inform my clients and the readers of this blog. For the last few years, paramount in the minds of everyone involved in the real estate industry is the need to know when market conditions will begin to improve and when prices will be hitting the bottom. In order to address these concerns, part of my research means keeping up-to-date on the latest trends and market activity. Recently one of those trends now clearly indicates a statistical rise in prices for the last three months in a row, and June, 2009, may well become the statistical bottom of market prices.

The thing to remember and to take into any calculation when trying to make predictions based on trends is that data always is a step behind reality. Or put another way, data is behind the curve while reality is in front of it. It is now safe to say that we are beyond hitting the bottom for the Southern Oregon real estate market and we are now bouncing off the bottom. So if you are a buyer, do not hold any great expectations that prices will continue to drop any lower. Yes, there will be specific properties that for unusual reasons become bargains and drop significantly in price. But these price drops are anomalies that are to be expected in a normal real estate market. Suffice to say, prices are stabilizing and they will now, with time, begin to trend upward.

Once again, I offer this friendly reminder… buy low if you anticipate selling high at anytime in the future, and guess what… it’s low.

Michael Masters

A Socially Conscious Real Estate Consultant

These days in the Southern Oregon real estate market, listings and prices are all over the map. Generally speaking, in this market teeming with uncertainty and overshadowed by a lumbering, slow economic recovery, the properties that sell are the ones that are at bargain basement prices, plain and simple. Often multiple offers come in on foreclosures that are listed for a “bargain-basement price,” and anything priced over 400K is a slow boat sailing toward China.

Given this bleak reality check driven by low-end distressed prices, there is one proven “must sell” strategy. First, determine what you believe is a fair price for the property. Next, determine what your bottom line price would be for the property. Then, decide Continue reading Foreclosures, Bargain Basement Prices, and the Southern Oregon Real Estate Market

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