Eugene and Springfield Oregon Real Estate Update

Are you wanting to purchase a home, but you are just not sure if right now is the best time to make your purchase? If you fit into this category, you are not alone. Hundreds of thousands of potential home buyers are finding themselves in this situation. The following article from "US News" talks about this situation and gives you some perspective from both sides on whether to buy now or wait it out. This is a great read for you if you are on the fence about purchasing a home now vs. renting. Over the past two years, mortgage rates have surged from around 3% to well past 7%, leaving many would-be homebuyers simply priced out of the market. Others have decided to wait on the sidelines, holding out for lower rates. In fact, two-thirds of homebuyers are waiting for rates to fall before buying a home in 2024, according to a U.S. News  survey .  But patience doesn't always pay off for buyers who are trying to time the market. Here's what to consider if you're hold...

Many would be home buyers and sellers are fearful of our current housing market. It certainly is a much different market than what we were experiencing just over a year ago. The reality is that mortgage interest rates in the 2.5% to 3.5% range are unrealistic, and the fact that we had them available for so many years was a blessing. Those who have been in the Real Estate market for years knew that these rates would end. They couldn't last forever! Mortgage interest rates are cyclical, as is the national housing market. When I purchased my first home, the interest rate was just under 12%. It was painful, but I was tired of paying rent, and I knew that rates would not stay at 12% to 13% forever. When the rates finally began to decline, I refinanced at 8.5%. I was a very happy homeowner at that time. My second home came about 10 years later, and mortgage interest rates were at 7.5%. I was very happy to pay such a low mortgage interest rate. I would later refinance at 3.5%, and it ...

I am often asked, "When is the best time of year to sell my home?" That answer can be somewhat complicated, but typically my answer is the same. In the Eugene and Springfield market area, I have always found that late winter and early spring may be the prime time for home sales. In our area, the days are becoming longer, the weather is improving from winter storms, trees are getting leaves again, and flowers are beginning to bloom. This is typically when homebuyer interest begins to spark. Another important thing to remember is that this time period typically has a lower inventory of homes for buyers to choose from. Later in spring and summer, the inventory of homes for sale will typically increase. Higher demand and lower inventory are a good combination for home sellers. The following is an article from "Realtor.com" that also suggests spring as the best time to sell your home. A new realtor.com® analysis looks at historical listing metrics to pinpoint when s...