Guard Your Equity Position

Our local real estate market presses onward and upward! Yes, there is some “buyer fatigue” and talk of price softening. The data however reads that the shortage of inventory is still driving this price increase train, and will likely continue to do so as interest rates remain relatively low.
Are we possibly in a price bubble and staged to see a correction? For every reason we think it likely, we also have a counter theory which signals to full-steam ahead. Who knows!
Here is our suggestion… Plan for a downturn within the next ten years. If you own your home, we caution against tapping into your current equity unless it is to upgrade your property. Go ahead and buy that new home or investment property, but avoid being highly leveraged! Pay a little extra every month on your loan(s) if you can. (We should add, whenever you are considering significant money moves, be sure to consult with your financial advisor, tax consultant, etc.)
We remember when the real estate market plunged around 2008. We heard over and over from homeowners who had been watching their home worth grow, “I lost so much money!” In reality, they never had it. We have to remember, what our homes are estimated to be today is only a point of interest. The true value of a property is realized the day we go to sell.
Happy Fall!

Multiple Offers Are Painful

We continue to see multiple offers on appropriately-priced properties. Often, the winning offer is all cash, and/or the contingencies are reduced. Buyers ask us, HOW MUCH over asking price should one offer to be the winning bid? Unfortunately, there is no one-fits-all answer or formula. What we can tell you is, it’s probably going to hurt. What is that crazy-high number you have in mind? Yes, somewhere OVER that number!

College Hill? Look no further!

This season no one has had more listings or sold more property on College Hill than we have. We still have two fine homes for sale, both in premier locations atop the hill with dynamite views. Their asking prices are $489,000 and $649,000. Or are you considering selling this year? Give us a call! 541-520-2246

Winning the Multiple Offer Situation

Buyers… Right now if the house you’re excited about is new to market, under $400k-ish and rather appealing, plan on being in a multiple-offer situation. Bummer, but supply isn’t meeting demand. Here are a few tips to consider:
1. Disregard asking price and embrace what you would feel good about paying.
2. Look at properties under your top dollar so you don’t over-spend your budget.
3. Remember that your offer isn’t just about price.
4. Give us a call… We have an awesome track record for helping our clients come out on top!

Inventory Shortage!

This is going to be a very interesting year for real estate sales in our area. It is a great time to buy with mortgage rates so low; and indeed the buyers are lining up and ready! What we’re currently missing is enough “inventory” or homes for sale, to meet the demand. Prices are starting to tick up. In some ways this is not all bad. Look at how the Portland market has exploded, however… locals are being priced out of the market. Not good.

2016 will be an excellent year for most sellers. If you are considering selling, give us a call!

Two condos to choose from! $115k or $189.9k

We have two very different, 2-bedroom condos currently listed:

• 418 Stonewood is in South Hills. 2 beds, 2 full baths, updated with new paint and carpet—move-in ready!  $115,000

• 1313 Lincoln #1001 is a 10th floor unit downtown, fully remodeled. Live downtown in style! $189,900

Call Agata for a private showing: 541-968-7314

Best RIVERFRONTAGE in Downtown Springfield!

Itching for something truly special? You won’t believe how cool this place is. Own right down to the riverfront—totally private—in Downtown Springfield.

1 or 2 bedrooms, 1 bath, 1400+sf — $369,000

Dangle your toes in the river! Call Susan for a private showing: 541-520-2246