According to an article in RIS Media housing affordability continues to be near highest level in 18 Years. RIS media says "The HOI showed that 72.3% of all new and existing homes sold in the second quarter of 2009 were affordable to families earning the national median income of $64,000, down only slightly from the record-high 72.5% during the previous quarter and up from 55.0% during the second quarter of 2008."
Most experts equate the affordability to be related to low interest rates and the first time home buyer's credit of $8000. I personally believe all of this is true based on my experience as an agent in Ashland and Medford area. In some cases, I am seeing home prices at their 2001 or 2002 price level.
Although inventory has come down in the last year, there are still many choices for buyer.
Read more: http://rismedia.com/2009-08-20/housing-affordability-continues-to-hover-near-highest-level-in-18-years/#ixzz0OqIwg4Hi
Friday, August 21, 2009
Wednesday, August 19, 2009
Boom Times Ahead for Ashland Real Estate?
A recent Internet posting by RIS Media stated that "homeowners are more optimistic than ever about the future values of their homes, with 81% of homeowners believing their own homes’ values will not decline in the next six months- the highest percentage on record since the first quarterly Homeowner Confidence Survey, which was fielded in the second quarter of 2008. Meanwhile, only 19% of homeowners believe their own home will decrease in value over the next six months."
It is good news for all of us that the general public is no so down in the dumps as they were last year, but I not sure I fully agree. Homes are selling now because interest rates is great and the $8000 tax credit, but the credit will be gone soon and interest are sure to rise some.
I think that people are confident enough to be buying houses, but that prices will remain close to what there are now for the next year, and we won't see significant price increases for a few years.
Read more: http://rismedia.com/2009-08-18/optimism-grips-homeowners-81-think-homes-value-will-increase-or-stay-same-in-next-6-months/#ixzz0OeGrOcRi
It is good news for all of us that the general public is no so down in the dumps as they were last year, but I not sure I fully agree. Homes are selling now because interest rates is great and the $8000 tax credit, but the credit will be gone soon and interest are sure to rise some.
I think that people are confident enough to be buying houses, but that prices will remain close to what there are now for the next year, and we won't see significant price increases for a few years.
Read more: http://rismedia.com/2009-08-18/optimism-grips-homeowners-81-think-homes-value-will-increase-or-stay-same-in-next-6-months/#ixzz0OeGrOcRi
Saturday, August 15, 2009
Time is Running out - Buy a Home in Ashland, Now?
A friendly reminder to all of you first time home buyers....The last day to purchase a house a get the first time home buyer credit of $8000 is November 30, 2009. That might seem like you still have time, but if you do the math, you will see it is not.
In order to close by Nov 30, you need to be in a signed contract no later than Oct. 15th, but that assumes there are no glitches or big repairs, and you actually close and buy the home. So really that means you need to be in contract by Oct 1st so if that house does not work out or there is a glitch, you can still make the Nov 30th dare.
But...that means all the other buyers are thinking the same thing and they will be rushing around to get a property in contract by Oct 1st so that really means you need to be in contract by Sept 15th.
Okay....Now you can see what I mean, time is running out. You really have less than one month. Call us today! 482-5590.
Monday, August 10, 2009
It is not a Buyer's Market any more in Ashland
If you are not active in the real estate market, you might have missed something kind of big. It is not a buyer's market if you are trying to buy a home under $200,000. It is rare to find a home that has not gotten multiple offers or sold immediately if priced right.
We have about a 4 1/2 months supply of homes on the market in the Ashland, Medford area. A six months supply is an average market. More than that is a seller's market and less than that a buyer's market. This is the average. If you are a buyer right now in this price range, you already know this. How many homes have you written an offer on and did not "win"?
Also I am finding that many time the offer is for over the listed price!! It is almost like 2004-2005 in this price range.
Sorry to say, though, once you get over $300,000, this all changes....and if you are over $500,000...Well it is not much different than 2008.
The time to buy was 6 months ago. Sorry all of you that were waiting for the bottom. You missed it if you were looking under $200,000.
We have about a 4 1/2 months supply of homes on the market in the Ashland, Medford area. A six months supply is an average market. More than that is a seller's market and less than that a buyer's market. This is the average. If you are a buyer right now in this price range, you already know this. How many homes have you written an offer on and did not "win"?
Also I am finding that many time the offer is for over the listed price!! It is almost like 2004-2005 in this price range.
Sorry to say, though, once you get over $300,000, this all changes....and if you are over $500,000...Well it is not much different than 2008.
The time to buy was 6 months ago. Sorry all of you that were waiting for the bottom. You missed it if you were looking under $200,000.
Monday, August 3, 2009
A home in Ashland Oregon for under $230,000? Yes, it's true
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Subscribe to:
Posts (Atom)