Eugene Oregon Real Estate Blog

Good Monday Morning!

If you have not been to an Oregon Duck baseball game at the brand new PK Park you need to do so. What a fantastic facility this is and how much fun is it to watch a college baseball game? This is a great addition to the Eugene and Springfield area!

Most of the Real Estate news over the past several years has focused on the residential Real Estate market and it's continual slide both nationally and locally.  The situation with the residential market has certainly had an effect on the lives of most.  Now coming on the scene is a situation with commercial Real Estate that is going to also have a significant impact on most of us.  Loans for commercial Real Estate are typically much shorter in term than those made for residential Real Estate. Most commercial loans have a duration of seven years.  What we are seeing in both the local and national commercial Real Estate market is that lease rates are declining sharply. The value for commercial property is determined primarily by what the lease value is.  As a result of the lower lease rates, the value of most commercial property has dropped significantly. Over the next 3 years hundreds of thousands of commercial notes are going to be coming due all over the country. As these notes come due the commercial property owners are going to have to find new financing. Due to the lower lease rates, many of these commercial properties values will be less than what is currently owed on them.  The problem will come from the fact that the banks will not be able to loan on the buildings for the amount the owners need and historic numbers of commercial Real Estate owners will now go into default.  This has the potential for a huge economic disaster as thousands of commercial property investors lose their money.  The investor groups are broad as many of the nations largest insurance company's etc. are invested heavily in commercial Real Estate.  

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

 

3547 River Pointe Drive

Here is your weekly list of Foreclosed and Bank Owned properties for sale in the Eugene/Springfield and surrounding areas.  If you should want further information on any one of these homes or wish to view any homes, please contact me.

Foreclosed Homes. Click on the following link to download this week's list. 

Download Here

BRAD WHEELER
Broker Agent
Office: 541-349-2620
Cell: 541-521-8409
E-mail: bwheeler@kw.com

Good Monday Morning!

Our gorgeous Spring weather continues.  It sure beats what the East Coast is having.

Each week I receive a list of the NOD (notice of default) properties in the Eugene and Springfield area.  Unfortunately, the size of this list continues to increase week after week.  This indicates that more and more people are finding it hard to make their monthly home payment and are falling behind on payments to a point that their lender starts the foreclosure process with this notice.  The national and local economy has created an environment where there are just more and more people losing their homes. The latest numbers out indicate that as many as 1 in four home owners could go into default.  

A home foreclosure is very damaging.  It is hard on people both emotionally and financially.  For many people there is a very good alternative to giving their home up through foreclosure.  This alternative is called "Short Sale".  A "Short Sale" is a process where the home owner sells their home and then they are able to negotiate with their lender to take a deficiency pay off on their mortgage.  Not only can a "Short Sale" allow the home owner to remain in their home during the time of negotiation, but a "Short Sale" can also allow the home owner to have a much less devastating impact on their credit.  Today, most lenders would prefer that the homeowner goes through a "Short Sale" rather than losing their home to foreclosure.

The process begins by the homeowner first determining whether they qualify for a "Short Sale".  The Galand Haas Team helps many homeowners with this process.  Once we determine if the homeowner qualifies for a "Short Sale", we then put the home on the market for sale. Once we have a sale then we begin the process of negotiating with the lender on the "Short Sale".  There are only a few Real Estate agents in or area with the experience to help homeowners with the "Short Sale" process.  We are experts at "Short Sales", so if there is anyone you know who is facing foreclosure, have them contact us.  We just may be able to save them from a horrible situation.  They can contact us directly or visit our website at www.shortsaleeugene.com

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

3690 RIVER POINTE DR Price: $485,000 Beds: 3 Baths: 2 Sq Ft: 2976 This beautiful home has a fantastic floor plan. It features wood floors, wall-to-wall carpet, skylights, canned lights, granite counters, stainless steel appliances, surround sound system, security system, vaulted ceilings, large bonus room. The mas... View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

Good Monday Morning!

If you have not been to an Oregon Duck baseball game at the brand new PK Park you need to do so. What a fantastic facility this is and how much fun is it to watch a college baseball game? This is a great addition to the Eugene and Springfield area!

Most of the Real Estate news over the past several years has focused on the residential Real Estate market and it's continual slide both nationally and locally.  The situation with the residential market has certainly had an effect on the lives of most.  Now coming on the scene is a situation with commercial Real Estate that is going to also have a significant impact on most of us.  Loans for commercial Real Estate are typically much shorter in term than those made for residential Real Estate. Most commercial loans have a duration of seven years.  What we are seeing in both the local and national commercial Real Estate market is that lease rates are declining sharply. The value for commercial property is determined primarily by what the lease value is.  As a result of the lower lease rates, the value of most commercial property has dropped significantly. Over the next 3 years hundreds of thousands of commercial notes are going to be coming due all over the country. As these notes come due the commercial property owners are going to have to find new financing. Due to the lower lease rates, many of these commercial properties values will be less than what is currently owed on them.  The problem will come from the fact that the banks will not be able to loan on the buildings for the amount the owners need and historic numbers of commercial Real Estate owners will now go into default.  This has the potential for a huge economic disaster as thousands of commercial property investors lose their money.  The investor groups are broad as many of the nations largest insurance company's etc. are invested heavily in commercial Real Estate. 

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING! 6906 A Street Price: $169,000 Beds: 3 Baths: 1.5 Sq Ft: 1244 Charming newer home located on the banks of city-maintained wetlands with a seasonal pond, wildlife & walking paths. The main level features a living & dining room with lam floor & woodstove, a space-efficient kitchen with lots of lots of storage, a... View this property >> AND HERE'S YOUR MONDAY MORNING COFFEE!!  Sincerely, Galand

Good Monday Morning!

Happy Presidents Day!!!!!

Over the past several months I have completed several hundred Market Value Analysis reports for residents in the Eugene and Springfield area.  The primary reason for these reports is to give someone who has an interest or need in selling a home an approximate idea of what their home value is on the market today.  The typical result of this is that not only do the home owners go into sticker shock, but so do I.  Home values in most areas have dropped so drastically that even after doing hundreds of these reports and looking at hundreds of other homes currently on the market, the low prices of many homes in this market is shocking.  Not only are many prices well below county assessed values, but many of the homes are worth far less than what the owner paid for them. As we watch even more homes in our area go onto the nod (notice of default) list, the pressure on home pricing continues.  The more homes that we see go into foreclosure and short sale, the more pressure there will be on home prices.  Unfortunately, the nod list is not getting any less lengthy at this time.  This certainly could indicate that home value will continue their decline for quite some time in this market area.

If you live int he Eugene and Springfield or surrounding Lane County area you can easily get a good look at what your homes value has done.  Just log onto www.forhomesellers.com.  Here you can enter in the details about your home and quickly receive a complete e-mail report on your homes current market value.  The report will then be repeated and sent to you each month by e-mail.  It is just a great way to keep on top of what is taking place with your homes value.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

290 25th Street Price: $165,000 Beds: 3 Baths: 2 Sq Ft: 1280 Very nicely updated home including brand new roof, vinyl windows, 100% Alder cabinets, Hardie plank siding, granite countertops, new appliances, new carpet, fresh paint, gorgeous fixtures on large lot w/ great landscaping in front. With a cute deck,... View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

Here is your weekly list of foreclosed and bank owned properties listed for sale in the Eugene and Springfield area.  If you should want further information on any one of these homes or wish to view a particular home, please contact me.

Foreclosed Homes. Click on the following link to download this week's list.

Good Monday Morning!

The statistics are in for December of 2009 homes sales in the Eugene and Springfield area and also for the entire year of 2009.  Looking at both December numbers and numbers for the years there was not any huge swings in the market.  The one notable item though is that the overall trend remains as a declining housing market for this area.  For December 2009 closed sales were up though and by a gain of 38.4% over December of 2008.  Pending sales also saw an increase and were up by 24% over December 2008.  New listings also saw an increase and were up by 26.9%.  The average number of days it took for a home to sell in December was 118 days. The inventory of homes for sale hit 7.1 months, which remains clearly in the category of a buyers market.  Remember 6 months of inventory is even betwen a buyers and sellers market, less is a sellers market and more is a buyers market.

For the year of 2009 closed sales were off by 1.3% from 2008 and pending sales were off by 3.3%%.

The market remains extremely divided as the majority of home sales continue to fall in the price ranges of below $250,000. The market above $400,000 is extremely tough and almost non-existent above $500,000. Don't look for any radical change with any of these trends in the next 12 to 18 months.

Have An Awesome Day!

THIS WEEKS HOT HOME LISTING!

725 MOUNTAINGATE DR Price: $485,990 Beds: 4 Baths: 2 Sq Ft: 3172 Entry / Living / Dining / Family Mocha Stained Wood Wide-Plank Floors in Dining & Entry Custom Shelving & Cabinets in Den, Family & Living Areas Natural Gas Fireplace with Stone Surround & Custom Mantel Large, Private Den/Library Powder Room Conveni... View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand

Good Monday Morning!

The first signs of Spring are appearing in the Eugene and Springfield area as the daffodils and tulips begin their annual appearance.  It won't be long until our Spring colors are here.

Is this a good housing market to trade up or down in?  This is a question that I am hearing more and more.  The answer is really a simple one.  Yes!  That is as long as you are remaining in this market area or moving to one with similar or lower home values.  The fact is that your home is most likely worth quite a bit less than it was several years ago, but remember the new home that you purchase has also taken a similar hit.  It's really trading apples for apples.  Now, you throw in the $6,500 tax credit for purchasing a new primary residence and the historically low mortgage interest rates and you have an environment that is very attractive for you to make that move.  This situation is especially true if you are a move up buyer.  Chances are that the more expensive home that you are moving into has taken a larger hit than your current home.

If this is a consideration for you, please contact me and I can easily do an evaluation on your current home and crunch the numbers for you.  This will give you a very good idea as to whether this is the best time for you to make the move.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

39640 DEERHORN RD Price: $365,000 Beds: 3 Baths: 2 Sq Ft: 1652 Classy country home on acreage with park-like setting in the Mckenzie River Valley featuring hardwood floors, spacious living room with fireplace, large dining room & kitchen with laundry access. Large bedrooms & lots of storage. Master bed includes... View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Sincerely,
Galand Haas

BRAD WHEELER
Broker Agent
Office: 541-349-2620
Cell: 541-521-8409
E-mail: bwheeler@kw.com