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

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

As we patiently await the passing of the Great Recession, our position is unique. Like wading in the mighty Rogue River that runs through the center of the Southern Oregon real estate market, we find ourselves floating in the middle of a roaring financial river, unsure if we’re in the middle of the waterway or how far it may be to the other side before we can pull ourselves out of this housing crisis. The Great Recession continues to be plagued by the great number of foreclosures currently on the market as well as the large amount of time and patience necessary to close either a short sale or a bank-owned property.

Looking back, we now realize that 2003 marked the beginning of an aggressive surge in Southern Oregon real estate prices driven by the ease of available credit. Today we cringe at the very mention of the term “adjustable rate mortgage,” but back in 2004, an ARM meant cheap money that could buy real estate escalating in price before our very eyes. A buyer could re-sell the property and roll the dice again, or take the equity out of the home and amass a collection of cars, trucks big-screens and computers, all purchased with money borrowed against home equity and supported by the indisputable appraisal.

We all know what happened. Continue reading The Great Recession and the Southern Oregon Real Estate Market