These days, the sale of vacation homes in the Southern Oregon real estate market has slowed considerably given the overall difficulties in the real estate market at large. Second homes, Investment homes, and Vacation homes have primarily been considered a “discretionary” purchase and when the belt tightens, the vacation home is one of the first purchases to fall by the way side. Yet despite the slide in the number of second home purchases, economists continue to believe that projected demographic trends for the future point to increased sales in the coming years. And for Baby Boomers who are fast approaching retirement age, a vacation home in the Southern Oregon real estate market is a powerful lure.

As the market recovers, the demand for a vacation home will increase as the Baby Boomers choose to spend their accumulated wealth in the pursuit of the good life in their golden years. One of the major questions the Boomers will ask themselves is Continue reading Vacation Homes and the Southern Oregon Real Estate Market

At our June 4th office meeting for ERA Prestige Homes in Grants Pass, we were visited by two loan officers from the newly opened branch of Golf Savings Bank, formally Sterling Bank. The visitors were Rachelle McMahan and Kelly Rankin-Trapp, Golf Savings Bank loan officers, and they served as a reminder to us in attendance about the tools available to assist in the Southern Oregon real estate recovery.

As they spoke about their bank and their lending programs, I was reminded that when the Southern Oregon real estate market recovers, Continue reading Golf Savings Bank and the Southern Oregon Real Estate Recovery

As a specialist in Grants Pass real estate within the Southern Oregon real estate market, I am well aware of the distress many home owners currently feel regarding the significant drop in real estate market prices, both locally and nationally. I am writing these words to assure readers that the wealth of the American family will continue to be provided by the ownership of real estate, be it ownership right here in Grants Pass real estate, in the Southern Oregon real estate market, or nationwide.

Here’s why the recovery is working all across America. Yes, the wheels of recovery have been slow to turn because they found themselves at a dead stop, churning to free us from the worse financial mud hole since the Great Depression. But consider this Continue reading Grants Pass Real Estate and the Southern Oregon Real Estate Market

Are you a homeowner over 62 years of age who either owns their home free and clear or has reduced the mortgage to a small amount? You may well qualify for the benefits of a reverse mortgage in order to assist you with the financial demands of retirement. During my career as a real estate consultant in the Southern Oregon real estate market, I have discussed the advantages of the reverse mortgage with many seniors and have encountered many misperceptions about the program. I write this blog to help with the basics of the reverse mortgage. Perhaps it is right for you.

Let’s begin with the qualifications. You must be 62 years old (or older) and you must own either a single family home or a 1-4 unit home in which you occupy one of the units. If you live in the Southern Oregon real estate market and you live in a condominium, it must be HUD approved. And if you live in a Continue reading Consumer Confidence, Foreclosures, and the Southern Oregon Real Estate Market

For the those of you who may not have heard, for the past 3 months the Consumer Confidence Index has risen, and while that may not make front-page headlines, the message to me is clear — the Southern Oregon real estate market has nowhere to go but up.

For real estate Sellers obsessed with the inflated inventory of foreclosures driving down prices, news about increased consumer confidence is the news they’ve been waiting for. And for Buyers obsessed by the belief that everyone is in trouble and real estate prices will only continue to plummet, its time to rethink their beliefs and decide whether or not to make that offer. After all, buy low, sell high.

But whenever I scan the classified ads in our local newspaper, the Daily Courier, I can’t help but notice that the pages continue to contain large numbers of legal declarations regarding impending foreclosure actions. But the Consumer Confidence numbers are at their highest level in 8 months.

What gives? Could the Consumer Confidence data possibly be misleading?

To answer my own question regarding the Southern Oregon real estate market, I ran a comparison of the overall numbers of foreclosures on the market for the last 2 months. Lo and behold, the numbers of foreclosures on the open market are shrinking, indicating that the worst may actually be behind us. Factor in recent legislation that encourages banks to modify mortgages in order to keep homeowners in their homes and we have positive signs that Southern Oregon real estate market recovery, like the stock market, is on the rise.

Michael Masters

A Socially Conscious Real Estate Consultant

The Southern Oregon real estate market has seen two consecutive months of increased sales, and while some will say it’s too early to predict recovery, it is safe to say that the real estate market is improving. It also appears that the Homeowner Affordability and Sustainability Plan created and endorsed by the U.S. Department of the Treasury is working. The thrust of this plan is for the Fed to assist banks to modify mortgages in order to stop foreclosures and short sales, and put an end to the devastating effects the inflated inventory of foreclosure properties is having on the housing sector, the U.S. economy, and the global recession.

The goal of the program is to Continue reading Foreclosures, Short Sales, and the Southern Oregon Real Estate Market

While it’s still to early to declare an end to the distressed housing market that has affected Southern Oregon real estate, it’s never to early to remember all the grand reasons that influence people when making their decision to move 2 Oregon. Most of us have heard about the intoxicating reasons to visit the south of France or the south of Spain. Following that great tradition, when visiting the United States don’t forget to visit the south of Oregon, also known as Southern Oregon, and discover the many reasons to move 2 Oregon.

You’ll encounter inviting weather patterns that encourage outdoor activities like camping, fishing, white water rafting, horseback riding, and nature walks along creeks and rivers. The Southern Oregon real estate market abounds with abundant wildlife and indigenous bird sanctuaries. And if you prefer the finer things in life, you will also find an abundance of excellent restaurants, great shopping, and friendly folks.

One of the frustrating side effects of the slowdown in home sales for the Southern Oregon real estate market is that it has prevented out-of-state retirees from living out their dream to move 2 Oregon. Historically, Southern Oregon has always experienced a surge in real estate sales at the end of a recession. It happened in the eighties and it’s bound to happen again as the economy returns to normal. As home sales in Southern Oregon’s feeder states begin to increase, the move 2 Oregon will return, bringing with it rising property values along with rising home sale numbers. So if you’re sitting on the fence wondering when to jump, get ready — for the beginning of the end is finally in sight.

Michael Masters

A Socially Conscious Real Estate Consultant

In a previous blog about Going Green in the Southern Oregon Real Estate Market, I pointed out the benefits of purchasing premium high-efficiency appliances and having the State of Oregon help you to pay for them. This blog focuses on the key elements of heating and cooling and the applicable tax credits from the State of Oregon.

Studies show that gaps, leaks, and holes in heating and cooling ductwork can account for as high as 25 percent of either heating or cooling loss, depending on the season. The Department of Energy for the State of Oregon offers a tax credit of up to 25 percent of the eligible cost with a cap of $250 for well-designed and sealed ductwork in new homes or for ductwork improvements made in existing homes in the Southern Oregon real estate market. If you’re going green, Continue reading Heating, Cooling, and Going Green in the Southern Oregon Real Estate Market

There’s nothing like good news even if it is in small increments. For the month of March, pending home sales nationwide showed a gain of 3.2% over February. This gain is the 2nd consecutive increase in pending sales and it may signal the start of an economic recovery in the housing sector for the nation and the Southern Oregon real estate market. This increase may also explained by the first-time homebuyers tax credit of up to $8000 that has motivated some buyers to get off the fence and finally make a contractual commitment to buy.

Additionally, on May 4th, there was a show of support from the Stock Markets driven by the better-than-expected data from the housing market. The Dow Jones Industrial Average Continue reading The Southern Oregon Real Estate Market Recovery

As the global economy finally begins to exhibit signs of healing, those who stand on the sidelines invested in Southern Oregon real estate must be wondering, does this mean we’ve hit the bottom? Like weather forecasters with faulty radar, many who’ve predicted impending real estate recovery have been long on optimism and short on accuracy. For the last two years I’ve hoped that the beginning of the end of the Southern Oregon real estate crisis was around the corner, only to watch the crisis worsen. Now, after both TARP and additional bailout programs introduced by the Obama Administration, I believe we just may have hit the bottom. But two driving forces continue to nip at the heels of the economic recovery, and they are confidence and fear.

So how does one instill confidence in the real estate markets from Southern Oregon to Southern Florida? Continue reading Fear, Confidence, and the Southern Oregon Real Estate Market