Off and Running Real Estate

Archive for the ‘Market Updates and News’ Category

Good News in Housing Recovery

Thursday, March 18th, 2010

PRACTICAL ECONOMICS
No Double Dip for Housing

Does the dreary winter for housing signal another downturn?

By Richard DeKaser, Contributing Economist, The Kiplinger Letter
March 12, 2010

Despite a severe winter housing setback, the recovery in housing remains intact, and a more uplifting spring is likely to follow the dreary winter.
Read the entire article HERE

2961 Hendricks Ridge ~ $365,000

Thursday, March 4th, 2010

New Listing In the University Area

Wednesday, February 10th, 2010

Coming Soon! Call for details!

Lane County Market Summary for December, 2009

Thursday, January 14th, 2010

December Residential Highlights
Sales activity this December in Greater Lane County continued to grow when compared to last December. Closed sales rose 38.4% and pending sales were up 24%. New listings also increased 26.9%.
Comparing December 2009 with November 2009, closed sales dropped 3.5% (245 v. 254) and pending sales fell 7.7% (181 v. 196). New listings declined 14.9% (302 v. 355).
At the month’s rate of sales, the 1,738 active residential listings would last approximately 7.1 months.
2009 Summary
Comparing market activity for 2009 with 2008, pending sales increased 3.3%. Closed sales were off last year’s pace by 1.3%. New listings fell 12.4%. Total sales volume for 2009 was $669 million, down from $740 million in 2008 (see graph on page 5).
Sale Prices
The average sale price for December 2009 was down 5.6% compared to December 2008, while the median sale price dropped 2.6%. See residential highlights table below.
For the year, the average sale price was down 8.5% compared to the 2008 level. The median sale price fell 9.1%.

Click here for the to download or print entire report

Tax Tips for Homeowners

Tuesday, January 12th, 2010

Homeowners can claim a slew of write-offs to lower their tax bills. There are deductions for mortgage interest, mortgage points and real-estate tax payments. (When it comes to real estate taxes, you can claim a tax-saving deduction even if you don’t itemize.) And when you sell your home, most likely you won’t have to pay taxes on the profit. If you bought a home last year, you might even get to write off expenses you didn’t pay. So make sure you get all the tax breaks you have coming.

Click HERE to read the rest of the article at Kiplingers

For a quick video on the importance of tax planning, click HERE

Latest Market Update for Lane County

Wednesday, December 23rd, 2009

November Residential Highlights
Click Here to View or Download

This November, sales activity in Lane County continued to outpace totals from the same month a year ago.
Compared to November 2008, closed sales rose 34.4% and pending sales increased 1.6%. New listings dropped 0.6%.
Comparing November 2009 with October 2009, closed sales decreased 19.1% (254 v. 314). Pending sales were down 41.1% (196 v. 333). New listings decreased 29.4% (355 v. 503).
At the month’s rate of sales, the 1,859 active residential listings would last approximately 7.3 months.
Year-to-Date
Comparing January-November 2009 with the same period in 2008, pending sales grew 2.7%. Closed sales were down 4%. New listings fell 14%.
Sale Prices
The average sale price for November 2009 was down 3.9% compared to November 2008, while the median sale price dropped 3.5%. See residential highlights table below.
Month-to-month, the average sale price and median sale price were up when compared with October; the average sale price increased 1.8% ($221,000 v. $217,200) and the median sale price was up 2.5% ($199,800 v. $195,000).

House hunting on the go? There’s an app for that….

Saturday, December 5th, 2009

4326

Capture the Credit -

Sunday, November 15th, 2009

By AMY HOAK - Wall Street Journal
House hunting usually slows down this time of year, as people put their searches on hold during the holidays.
This winter could be different, however, thanks to the extension — and expansion — of the first-time home-buyer tax credit.
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“We’re going to see far more interest in the fourth quarter than we generally do because of the tax credit,” says Heather Fernandez, vice president of Trulia.com, a real-estate search engine. Traffic surged on the site on Nov. 5, the day Congress approved the credit extension, she says.

The new law extends the tax credit for first-time home buyers and opens it up to some existing homeowners as well: The credit is now up to $8,000 for first-time buyers and up to $6,500 for repeat buyers.

All buyers must have a binding contract on a house in place on or before April 30. The purchase must be for a principal residence and must close on or before June 30.
Click HERE for the entire article

Tax Credits Provide Outstanding Opportunities for Home Buyers

Friday, November 6th, 2009

The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. It also authorized a tax credit of up to $6,500 for qualified repeat home buyers.

Click here for a summary of both credits

First Time Buyers click HERE

Repeat Buyers click HERE

More resources for buyers HERE

Learn more about buying a home with Off and Running HERE

Considering Selling Your Home in 2010? Start Planning Now

Wednesday, November 4th, 2009

Click here to save or print
If you are considering selling your home in 2010, the time to start planning is now.
Getting from For Sale to Sold is more complicated than simply putting the sign in the yard. Working with an experienced professional will provide you with the resources to price your home right and present it to the buying public efficiently and effectively. We only offer full service marketing of your home through traditional and cutting edge marketing strategies for maximum exposure of you home.

  • We know the Eugene real estate market. Our market is truly one-of-a-kind. We stay up to the minute on Eugene real estate by constantly previewing properties, continuing education on real estate topics and being involved in several community organizations. For us, this is a full time job and we commit to it completely on a daily basis.
  • What’s next? Price and preparation. The next steps are the most important in defining our course of action. We can help you to price your home for the maximum proceeds and minimum market time and prepare your home to show better than the competition and entice a buyer. From there, we can coordinate escrows, locate and purchase your next property and manage the related details, contacts and timeframes.
  • Even the simplest real estate transactions are complex. Our experience with contracts, documents and best practices, coupled with our collaborative relationships with local service professionals, help to make your selling experience clean and efficient.
  • Let us do the heavy lifting. Selling a home is an emotional experience. Let us act as an emotional firewall between you and the buyer, find the answers to difficult questions, manage the mountain of paperwork and do the (metaphorical) heavy lifting. You will have plenty to do with packing, sorting and making plans for life after the sale. By the way, if you need help with the actual heavy lifting, let us know…we know people.

Tips for Sellers

Making your house the one that sells requires a combination of pricing, presence and presentation. We do the research to help you arrive at price and make sure that your home is present and easy to find on the MLS, in print and on an ever-increasing number of the most popular websites devoted to real estate. Presenting your home to buyers in a way that makes it attractive and puts it on their list for consideration involves some staging and forethought. Please consider the following:

You Never Get a Second Chance to Make a First Impression

From the curb or driveway to the front door, the potential buyer will begin evaluating your home. Make it easy for them to like what they see.

  • Stow away trash cans and recycling bins
  • Keep the walk, porch and doorway and window ledges clear of cobwebs, dust and clutter
  • Keep front lawn trimmed and watered
  • Freshen up flower beds and keep shrubs in check with pruning and watering
  • Be sure that locks, door knockers and address numbers are clean and in good repair
  • Consider a fresh coat of paint on the front door

Light and Bright

Don’t let the buyer think that you live in the dark. Before showings, open the drapes, curtains and blinds. If the view out a particular window is less than perfect, consider a window covering that lets the light in, but obscures the view of your neighbor’s utility shed.

Turn on the lights, all of the lights. Also be sure that each fixture is fitted with the correct maximum wattage light bulbs.

Shoe Shuffle

If your home is to be a ‘no shoes during showings’ listing, let’s make it easy for buyers and brokers by providing a basket of ‘booties’ and a bench or a couple of chairs.

Keep it Comfortable

Many homes today have programmable thermostats to turn down the heating or cooling while you are away. Make it comfortable during showing by maintaining your home’s temperature as you would if you were home. The money you spend on utilities is a small price to pay to help a buyer fully appreciate your home.

The Nose Knows

Strong smells of any kind can lead a buyer to cross your home off their list. Odors that you may be accustomed to could be offensive to buyers. You would be wise to do the following:

  • Let the house breath - open windows and air out unused rooms
  • Limit the use of strong scented candles, cleaners and air fresheners
  • Avoid strong smelling meals (garlic, fish, strong herbs and spices)
  • Remove cat litter boxes
  • Do not allow smoking in the home

A drop of vanilla on a burner, freshly baked cookies or mild (very mild) air fresheners, candles (unlit) or scent diffusers can make the home feel warm and inviting.

If there is a genuine offensive odor issue, do not mask it. You are wise to make the necessary repairs now and disclose it on the Sellers Disclosure Form.

Your Adorable Pet

Although you adore your furry friend or friends, prospective buyers and their agents may not. Pets on the loose can intimidate and interfere with a thorough showing of your home. You would not want someone to miss the spectacular deck or water feature out back because they are not a dog person and having rooms off limits to showing so that the cat won’t escape, leaves buyers in the dark. We’ll plan together how to make your home as accessible as possible while caring for your pets.

  • Be upfront about the pet in the MLS showing instructions
  • Post notes about pets at doors and gates as necessary
  • Whenever possible, remove pets from the property prior to showing.
  • Contain the pet, if possible, in a laundry room, a crate, or garage
  • Please have you pet properly tagged in the event of and escape

Fix It List-Just Do It

Small details about your home, that you have learned to live with, can turn a buyer off and have them looking elsewhere. Take the time to take care of the squeaky doors, sticky drawers and other routine maintenance items. In short, if is tricky to operate, broken, missing, worn-out or otherwise defective, remedy the problem now. Many of these items are do-it-yourself projects, but if you need a handyman or a professional, let us know.

Less is More

Less stuff on the counters, walls and book cases makes the home more appealing. Fewer of your photos, knick-knacks and collectibles make it more likely that the buyer can imagine themselves living there. Less stuff in the attic, garage, cupboards, cabinets and closets make the storage space seem larger and the home more move-in ready.

This can be a lengthy process. Pre-listing is the perfect time to purge some of your unnecessary belongings. Give aways and garage sales are a start. What you cannot part with and don’t need daily should be packed into tubs or boxes and neatly stacked in the garage or a storage unit. Less personal and less stuff = more space and a more appealing home to someone who is trying it on for size.

Stow the Valuables

Your home will be visited by the public during open houses and showings by your listing agent of a buyer’s agent. Both will be careful to supervise the visitors while they are in your home, but during a busy open house or a crowded tour, it would be best if you have take the precaution of removing or locking up the following items:

  • Jewelry and heirlooms
  • Fragile items
  • Prescription drugs and medications
  • Guns and weapons
  • Small, expensive electronics (cell phones, laptop computers, video games, gps units, etc.)

Take it or Leave it

Review the term ‘fixture’ with your listing broker. If you plan on taking a special light fixture or shrub with you when you move, consider removing it now and exchanging it with a suitable replacement. What a buyer sees when they visit you home, they may ask for in the offer. You may exclude items from the sale and should make those decisions beforehand.

Lean and Clean

Now that the home is tidy and depersonalized, it’s time for a final sweep, mop and wipe.

Kitchens and bathroom should be free of dirty dishes, towels and clutter of daily life. Consider freshening them up with new shower curtains, bath mats and hand towels.

Bedrooms should have beds made, laundry put away, and a tidy appearance.

Run the vacuum, mop, dust and wipe down surfaces as needed while on the market.

Showing Etiquette

The optimal showing for a potential buyer is one where they feel at ease in the home with their agent, who knows them best, or with your listing agent. Whenever possible, the seller should vacate the home to allow the buyer to explore and ask questions without fear of offending the seller. They need to take their time and move at a pace that is comfortable.

If you do meet a potential buyer before, after or during a showing, exchange pleasantries then give them space and let the agent guide the showing as needed and answer questions.

Follow Up

Believe it or not, sometimes a home does not sell in the first week or month. Your agent should follow up with you about showings, open houses, market activity and your home’s competition. Listen to that advice and keep the lines of communication open. Getting your house sold requires that you and your agent work together.