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

Once again, there is good news and bad news to mull over as we patiently await the coming recovery in Southern Oregon real estate market. The good news is that permits and actual starts for single-family new home construction went up nationally by 3.6% in the month of April when compared with March. The bad news is that the same number is down by 80% compared to the high-water mark in January of 2006. But improvement, like time itself, marches on. And for that there is joy not only in Mudville but in the entire Southern Oregon real estate market.

It has been my recent experience that out-of-work contractors in the Southern Oregon real estate market who specialize in new home construction are making transitions, either to Continue reading New Home Construction and the Southern Oregon Real Estate Market

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

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… Continue reading Home Prices and the Southern Oregon Real Estate Market

With the passing of each month, the Southern Oregon real estate market gets greener and greener, in part thanks to tax credits offered by the State of Oregon. The state currently offers Southern Oregon residents tax credits for premium energy efficient appliances, for heating and air conditioning systems, for high efficiency water heaters, for ground-source heat pumps, for making electricity and contributing to the grid, and yes, even for having hybrid vehicles.

Going green in the Southern Oregon real estate market is getting easier all the time and all you’ve got to Continue reading Going Green, Tax Credits, and the Southern Oregon Real Estate Market

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

What everyone now understands and for the most part accepts is the fact that the U.S. economy is in a state of major repair. As a byproduct of repairing the economy, the Green Economy offers solutions that may well prove to be the answer for a failing infrastructure, a sluggish real estate market, and dependence on foreign oil. As a result, the Southern Oregon real estate market is experiencing an awakening to the power of the Green Economy to stimulate the economy on its journey toward a new economic paradigm.

Simply put, the Southern Oregon real estate market is moving from greed to green. In my own business ventures, my current subdivision called Summer Field, has a very large Green Economy component. Not only will the development be comprised of high performance energy-efficient homes, but the subdivision will also take advantage of Continue reading The Green Economy and the Southern Oregon Real Estate Market

The economic indicators for national and local real estate markets are mixed these days. At the national level for January, 2009, home prices plunged by 19% from a year ago in 20 of the largest cities in America. However, while the Grants Pass, Medford, and Southern Oregon real estate markets have experienced a drop in prices compared with prices from a year ago, the price drops have not been nearly as severe as in the large metropolitan areas.

The price drops for both the national and the local markets are directly related to the inflated inventory of foreclosures, unsold homes, and the forces of supply and demand. Meanwhile, over the last 2 months, applications for refinancing have surged, and for the month of February, the number of pending sales nationwide is up compared with a year ago.

These mixed statistical messages suggest Continue reading The Latest Economic Indicators for the Grants Pass, Medford and Southern Oregon Real Estate Market