Cloudy with a chance of Recovery

By
Real Estate Agent with RE/MAX Integrity

Sunrise in our market

Our real estate market in Eugene/Springfield has been sluggish for a few years, yet I am feeling almost a wave of excitement, both from consumers and other Realtors, as we get started in our new 2011 housing season.  Buyers are active in the market right now, and not just in the entry level prices.  They are still shopping for a deal, but many are realizing that the deals are already there.  When I have conversations with potential sellers these days, I find they are, for the most part, understanding of the fact that their home may not be worth what it was a few years ago, and have accepted this fact.  With that acceptance comes a realism that if they price accordingly they can compete in the market today.

Move down the home selling process to the buyer in this market, and I am finding that buyers are able to discern value when they see it.  A good example is when they run into a few short sale, or bank owned homes along with a properly priced home that is comparable to these distressed homes.  There is value in shopping for distressed properties, but the competitively priced home that is not in a distress situation will have many advantages that the others can not provide.  Turn key and with a seller that is willing to help with closing costs, negotiate regarding repairs, you may find that the best deal is the one that has enough equity to allow negotiation for both the Seller & Buyer.

Optimism is here in our real estate market in Lane County and yes...while it may be still a slightly cloudy real estate forecast, we are definitely seeing a chance we are recovering.

 

 

 

 

 

 

Posted by

Colin Call, GRI, ALHS, BrokerMore Than Just the Red Glasses

(541) 579-1615

4710 Village Plaza Loop, Eugene OR

colincall@remax.net

 

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Rainer
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Randy Benefield
Benefield Realty, DRE 01442405 - Petaluma, CA

Colin,

 

Great to hear. I hear many different expert opinions for Sonoma County. I do know there are still buyers and sellers and great loans offered by banks. So it still is a good market here as well

Feb 13, 2011 03:57 PM #1
Rainmaker
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Rick Obst
Eugene, OR
Regional Production Marketing Mgr in Eugene, OR

Colin,

There is reason for optimism in Lane County.  There were a wave of listings at the beginning of the year that were short sales and foreclosures.  I'm seeing more normal listings coming to the market and a small spike in pendings and solds.  Buyer inquiries, albeit mostly at the lower end, are increasing.  We'd better get ready for a good summer selling season!

Feb 13, 2011 05:26 PM #2
Rainer
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Colin Call
RE/MAX Integrity - Eugene, OR
Principal Broker

Good to hear Sonoma.  I think that what I see here in Lane County in not localized, but is starting to be felt in many other parts of the country. Good news for all!

Rick, Always good to hear from you.  And, yes, I agree that we may be looking at what will feel like a hot selling market this spring and summer.  May not be like the "Old days", but much better than what we've been used to over the last few years.

Feb 14, 2011 04:43 PM #3
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Rainer
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Colin Call

Principal Broker
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