Good Monday Morning! There is some good news on the national Real Estate front! Mortgage interest rates dipped slightly last week, and this could possibly lead to rates coming down even further. Both nationally and locally, the Real Estate market has become more sluggish as of late, and my thoughts are that the one thing to start bringing the Real Estate market back is mortgage interest rate decreases. We will know more in the weeks ahead. The following is a recent article from “Realtor.com”. Mortgage rates dipped this week, with the average rate for a 30-year fixed home loan going from 6 ..read more

Good Monday Morning! Some good news for homebuyers has finally arrived. Mortgage rates took a slight dip last week, and this is welcome news for anyone looking to purchase a home. Homes listed for sale are also beginning to take longer to sell, and price reductions are beginning to become the rule and not the exception. This could possibly indicate a further slowing of home sales, and lower-priced homes could be the new trend. Here in the Eugene and Springfield market area, we are seeing many homes that sold quickly just a few months ago sit and have to reduce the asking price to attract buyer ..read more

Good Monday Morning! There is a slight bit of welcome news in the world of Real Estate. Mortgage interest rates have slowly trickled down slightly. In this housing market, any news like this is welcome. The lower mortgage interest rates will certainly help, but the other issues that continue to haunt the housing market are that home prices have not come down enough to make a real difference, and the overall national economy, along with inflation numbers, has not changed. This has led to a consumer confidence crisis that may stick around for a while. Never the less, home sales are still taking ..read more

Good Monday Morning! It now feels as if the housing market is beginning to cool off in the Eugene and Springfield area. Homes are now taking longer to sell, and for the most part, the rush of buyers looking at new homes coming on the market seems to have gone away. At the same time, home prices remain stubbornly high, and mortgage interest rates have increased instead of decreased. If the inventory of homes for sale does continue to increase, it's a sure bet that home prices will begin to decrease. Within a few more weeks, we will certainly have a very good idea as to where the housing market ..read more

Good Monday Morning! Finally, some good news about the Real Estate market, both locally and nationally. Mortgage interest rates dipped slightly last week. Any reduction in mortgage loan rates is welcome news. Hopefully, this trend will continue and bring some fresh air into a stagnant market. In the Eugene and Springfield area, we are seeing more homes hit the market, which will help a market that has had extremely low inventory for several years. Only time will tell if this is a blip or if this trend will continue. Right now, signs are pointing to an improving summer housing market. The follo ..read more

Good Monday Morning! Do we have a housing crisis in the Eugene and Springfield area? We have a crisis nationally, and I suspect that there is a major housing crisis in the Eugene and Springfield area. Rising home prices, high property taxes, and now higher mortgage interest rates have made home ownership nearly impossible for many people in our area. Have you wondered why there are apartment buildings springing up everywhere? Home affordability in our community is a true crisis. One of the major factors contributing to high home prices in the Eugene and Springfield area is the lack of land tha ..read more

Good Monday Morning! In case you haven't noticed, there are more For Sale signs popping up around town. In fact, it seems that there are more signs now than there have been in years. Are these sellers late for the party, or will the market be able to keep its current home price level with more competition? The answer, of course, is mortgage interest rates. If mortgage interest rates decline, there will be more buyers to buy up an increased inventory of homes for sale. If rates go up or remain stagnant, increased inventory could bring on a much tougher market for home sellers. The other wild ca ..read more

Good Monday Morning! Finally, some relief with mortgage rates. The question is, will this trend continue? It's no secret that high mortgage interest rates have created a huge slowdown in home sales across the nation. Expected rate cuts this year by the Fed turned into disappointment as inflation numbers continue to climb, and the Fed determined that lower rates would only fuel this fire. There are many opinions out there as to what lies ahead; the following is from a recent article from "Realtor.com." Mortgage rates finally fell for the first time in five weeks, with the average rate for a 30 ..read more

Good Monday Morning! The following article from NAR gives a great description of the housing market that we have lived through over the previous year and the one we find ourselves in today.  Home sales in 2023 were the worst in nearly 30 years. The micro-level reasons—owners locked into low mortgage rates, low inventory, and rising interest rates—explain the fall in sales. But looking at the big picture, it makes less sense. Last year’s 4 million existing-home sales were the same as in 1995, when there were 70 million fewer people living in the U.S. The massive stored-up housing demand co ..read more

Good Monday Morning! Home sales, both locally and nationally, are slowing again. After a short spurt of strong activity in our local Eugene and Springfield area, activity levels have once again slowed due to rising mortgage interest rates, high inflation, and a very sluggish economy. Even with all of this negativity, home sales remain better than you would anticipate. This certainly gives hope for a strong rebound if mortgage rates decline again and the economy strengthens. If you are considering a home sale, don't hesitate. Right now, this could be the strongest housing market we see this yea ..read more