Great mini farm in private secluded location. Wonderful 1987 built home with interesting and artistic architectural lines, soaring ceilings, walls of windows, hardwood floors and fabulous views. Home was last remodeled in 2011. Live the good life with great garden space, spa patio, expansive decking, tack room and barn, greenhouse, chicken coop, pond and yearly creek. 4 bedrooms plus an office, lovely and open main living areas. You won't want to leave home. The current owners lived in this home for nearly 26 years. This home is ringed by mature evergreens which open to mountain views. Sunny and open land.

This 2004 built townhome is stunningly beautiful. Upscale, rich and warm are what you will notice when you first enter. This one owner townhome had many upgrades when it was built. Coffered ceilings, hardwood flooring, gas fireplace with tile surround and 9' ceilings are just some of the special features. The Euro design of the private rear yard is completely enchanting with Cypress trees, fountain, spring blooms and retractable awning for complete dining privacy. In addition to the two bedrooms the plans were modified and the third bedroom was left open for a use as a spacious den. If the new owner would prefer 3 bedrooms they can easily erect one wall. The living room, master bedroom and covered front porch have gorgeous views of Grizzly Peak, Pompadour Bluff and the Siskiyou range.

Just minutes north on I-5 from Grants Pass is this distinctive, well crafted Tuscan style estate nestled on 47.05 acres of pure seclusion, beauty, two creeks & 30+ acres of marketable timber in a park like setting. This property is so extraordinarily unique that it will be a once in a lifetime experience for the distinguished buyer. Pastures, barns, & water feature were all strategically placed to take full advantage of the views. Gorgeous views in every direction. The amenities are too many to list so please call agent for 'Amenity List'. Property is bordered by government land on two sides for total serenity & escape. Adjacent to miles of riding trails for the horse or ATV riders. 2+ acres vineyard viable. Wolf Creek has three restaurants. 10 restaurants within 5.5 miles.

Beautifully solidly built single level home by Jerry Toney, is close to Oak Knoll golf course. Located on a quiet cul-de-sac this home was thoughtfully designed, has lovely finish work and  a wonderful floor plan. Walls of windows create a lovely sophisticated home with loads of natural light, views from most of the rooms and gracious warmth and style. The spacious formal living room has light coming from 3 sides and magnificent Ashland mountain views. Formal open dining room adjoins living room and creates great space for entertaining. Lovely kitchen with granite counters, sunny breakfast room with large view picture windows that opens to the great room/family room with brick gas fireplace, wet bar with granite counter and lots of room for your flat screen TV. Great room opens to expansive decking with gorgeous mountain views. Flowering trees and gardening area in the private fenced rear yard. In addition to 2 car attached garage, separate one car extensively deep garage/ workshop with tons of storage space. This is a very large extra space. Master bedroom on main level in this single level home.
 

Stunning views stretch across the valley from this lovely & spacious Ashland home, tucked away on a quiet street. This home was thoughtfully designed with large open interior spaces. the oversized rooms, soaring vaulted ceilings, skylights and large picture windows drench this home in beautiful natural light. Wonderful living and dining rooms, fireplace, expansive kitchen and main level master suite. Separate living areas on lower level would work well for a two family setup or offices with private entry; family room with wet bar, 2 large bedrooms and bath. View decking for enjoying the mountains and valley views or catching the afternoon sun. Nice shop space in oversized attached garage.

People need to be aware that the Quantatative Easing that began in September 2012 that started pumping $40 billion monthly into the economy is giving the feds some of what they want. The low rates are keeping the market moving in an upward direction. And with prices inching higher buyers want to buy now. This buyer demand could mean higher interest rates, still for now, they are at 60 year lows!

Spring is the time of year that most folks believe is the beginning of the real estate market. New inventory comes on the market, buyers come out to make their decisions and the weather is beautiful. However, this past fall and winter were very strong in our local market. During the fall of 2012 we began to see homes not only in the lower ranges sell quickly, but buyers moved into the mid range and we saw the beginning of renewed activity in the high-end market.

2013 should be a very strong market. The low rates allow more buying power for buyers and they will take advantage of that and the low prices. Buyers are aware that prices will go up with demand. Do not expect prices to shoot up, but we will see modest price increases. Sellers will be able to get more for their homes than they have been able to for years. But don't let greed creep in. That's what got us into this in the first place. For a home to sell it will still have to be in good condition and be priced for the market.

Wonderful vintage home in one of Ashland's best neighborhoods, right above the Ashland's famed theaters, the plaza, downtown and near Lithia Park. Complete remodel completed in 2006 including master suite addition. Gourmet kitchen with granite counters and stainless appliances. Open concept floor plan with family room, dining room, large kitchen and office area. Gleaming hardwood floors add to the warmth and charm of this home. Large, abundant windows bring in the beautiful expansive views of the valley, Siskiyou mountains and Grizzly Peak. Walls of windows across main living area and master suite. Covered front porch, upper and lower level view decks. Great location.

Private gated entry leads to this serene Mediterranean Ranch with expansive views of the Cascade & Siskiyou ranges. Over 6200 square feet of single level living. Contemporary function with artistic, old world charm, this stylish home features an open floor plan that is elegant, warm & intimate. Walls of windows overlook the valley & majestic mountains and fill this home with beautiful natural light. You will find intimate sitting areas, formal living & dining rooms, informal dining, cozy library with fireplace, expansive family room (wonderful for meetings or large groups), office, hobby room, several suites & extra large master with spacious sitting room, luxurious bath & huge walk-in closets. Additional lower level space to create game room or theater. Over 2000 sf of decking plus covered veranda with electric awnings, lush lawn area, ornamental waterfall & pond, fruit trees, raised garden beds, 2 greenhouses, 1800 square foot barn plus a feeder barn & beautiful pasture land. Two garages & workshop.

Gorgeous property with the best view in the Valley! King of the Mountain - Sweeping 300 degree views of the mighty Rogue River as it carves its way through the valley surrounded by fertile farmlands. Views southwest to Table Rocks and the foothills beyond. Views to the west across the valley toward majestic Mt. McLaughlin. Gated entry leads up paved drive to this knoll top gem. Perfect getaway of personal retreat. You wont find another place like it. Contemporary 2 story home with view decking. Attached 1768 square foot 3 bay immaculate finished shop. Luxurious in ground gunite pool with rock patio and stunning waterfall. Separate 768 square foot workshop. The only thing missing is you.
 

This is a charming 1915 Craftsman home in a great location, on a large lot, located between Minnesota and Jackson Streets. Convenient location close to all shopping. Sweet covered front porch, large trees, extra large back yard with shade trees and detached garage. Lots of parking off alley in private gated parking area. You will love the charm of this darling home. great family home with living room, formal dining room, country style kitchen, 3 bedroom, 2 bath and laundry room off of sun room. If you are looking for a home with character and charm, in a convenient location, this is it! Check with the City of Medford for use as a professional office or possibility of building small accessory unit or use as lovely personal home.

The real estate market in Southern Oregon has continued to be very busy. In the lower price ranges under $200,000 buyers are competitive. If a home is well cared for, nice neighborhood and priced well it will in all probability have multiple offers. I tried to write two offers today for a client for homes that were new to the market. One already had 9 offers and the other had an accepted offer with 4 buyers in back up position. Buyers have to be preapproved for their loan and more importantly willing to act very fast. They need to be willing to sign on the dotted line and get their offer submitted. You always have time later to change your mind within the terms of the contract if written correctly, and retain your earnest money. If you find a home you love, do not think you have time to spend several days researching it and seeing how you feel about it. Tie it up first then see how you feel about it. You will have time to think as you move through the escrow process. It is essential that you have contingencies for approving of  all inspections,  the title report and the seller's property disclosure statement. The closing will also be contingent on the property appraising at or above the purchase price and funding of your loan. Working through the initial steps of this process will give you time to do your research. It is imperative that you stay strictly within the agreed to timelines outlined in your contract so that you keep your earnest money secure.

So here is what is happening in the Jackson County, Oregon market for the first 3 weeks of October vs. the first 3 weeks of September. We are in need of inventory. There were 99 new in-town homes added to the market as compared with 56 in the first 3 weeks of September. Even though that is an increase, we still need more inventory for all of the large pool of buyers that are in the market. 167 homes received pending sales for the first 3 weeks of October as compared with 98 in September. So even though we have more new listings they are selling at 170% faster than last month! 130 homes have sold as compared to 104 in September's first 3 weeks. Total sales volume for single family in-town residences to date in October are $29,000,000 vs. $24,000,000 for first 3 weeks in September. 50% of homes are selling in the first 30 days on the market for a sell to list price ratio of 98.66. Sellers are receiving 98.66% of their asking price if their home sells in the first 30 days. Finally, we have a total of 396 homes with some sort of real estate activity in October as compared to 258 homes in September, 153% more homes with activity.

So that tells a story we have seen over the past 4-5 months. An improving market on many levels, definitely strong activity. However pricing is slightly down by 3%. Septembers average selling price was $$230,573 vs. October's of $223,037. 80% of homes sold are priced below $300,000. A small smattering of homes in the higher ranges are selling, but it is not significant. Although the first two homes in 2012 priced over $1,000,000 sold in September and one for over $2,000,000 in October that market is slow, the good news is that we are seeing the first signs of life in a while.

Prime location on Ashland's most desirable street, this charming neo Victorian home has a secluded and private location on over acre. This fabulous home is framed by a gorgeous back drop of mature trees, lush landscaping, stone walkways & koi pond. The sounds of Lithia Creek add to the relaxing and beautiful setting. The home is spacious with a mix of formal and informal areas. The large great room which adjoins the oversized gourmet kitchen and overlooks the pristine grounds is the heart of the home. Lovely master suite with circular turret seating, walk-in closet and luxurious master bath. There are many wonderful outdoor areas for relaxing or entertaining including covered front porch, expansive decking, spa, pathways and gazebo. Wonderful sunny office could be 4th bedroom or would make a great art studio. Gated entry for added privacy, set back off of Granite Street across from Lithia Park.

So for now, the market is very good, interest rates are low, low low (under 4% and under 3% for a 15 year fixed loan). If you have been on the fence about buying a home or investment property, it is time to do something about it.

I have been very cautious about getting overly enthusiastic but I cannot deny that the good news just keeps on coming. At first our pending sales were up 25% over the same period last year, than that figure moved up to 32% and now we are at 42%. Several months ago the activity was only in the low ranges, now it has moved into the mid ranges and even into the over million mark. Stay tuned and get your check book.

July 15, 2012

Now I don't want the seller's in our local market to start getting giddy and giving each other the high five, that is hardly what this headline is about. I don't think it would be a wise strategy to wait for the market to come back before selling your home unless you were born after 1990 and have a good deal of time left. But the good news is that we have a changed market, a market with slightly more activity, a market where home prices have stopped dropping at a quickened rate and that is very good news. Across the country as well as here in Southern Oregon we are seeing multiple offers in the low price ranges, under $200,000, if the property is a deal. In the Rogue Valley the mid ranges are just beginning to show slight activity and the high end market, over $900,000 has recorded only 1 sale in the past six months. However, a number of my listings in the higher ranges have just started to have a number of showing requests over the past 3 weeks.

For a number of months in a row we have seen countywide pending sales exceed the 2011 numbers by 17% on the low side in March to as high as 40% in June. As inventories decline we are seeing the number of available properties per buyer shrink to 4. This is a great time for sellers to sell their homes and it is also an excellent time for buyers to buy, I think the best ever. So my message to sellers right now is this is not the time to play hard to get. Another way to say this is "make hay while the sun shines." It is important to keep in mind that we have a very, very long way to go to fully pull out of this and any number of local or world situations could cause the market to retreat once again.

More good news comes from HousingPredictor.com which forecasts that although housing prices in much of the country will continue to decline there are a few cities that are forecast to have housing price increases. Medford, Oregon and surrounding communities are forecast to have their housing prices increase 13.9% over the next 5 years. You can read the article here: http://www.nuwireinvestor.com/articles/five-best-real-estate-markets-for-2012-2017-59404.aspx

As reported by David Wessel of the Wall Street Journal in his article of July 11, 2012:

“Economists aren't always right, but on this at least they agree: A new Wall Street Journal survey of forecasters found 44 believe the housing market has reached its bottom; only three don't.

Housing is still far from healthy despite the Federal Reserve's efforts to resuscitate it by helping to push mortgage rates to extraordinary lows: 3.62% for a 30-year loan, according to Freddie Mac's latest survey. Single-family housing starts, though up, remain 60% below the 2002 pre-bubble pace. Americans' equity in homes is $2 trillion, or 25%, less than it was in 2002 and half what it was at the peak. More than one in every four mortgage borrowers still has a loan bigger than the value of the house, though rising home prices are reducing that fraction slowly.

Still, the upturn in housing is a milestone, a particularly welcome one amid a distressing dearth of jobs. For some time, housing has been one of the biggest causes of economic weakness. It has now—barely—moved to the plus side. "A little tail wind is a lot better than a headwind," says economist Chip Case, the "Case" in Case-Shiller.

From here on, housing is unlikely to drag the U.S. economy down further. It will instead reflect the strength or weakness of the overall economy: The more jobs, the more confident Americans are about keeping their jobs, the more they are willing to buy houses. "Manufacturing had led growth and construction had lagged," JPMorgan Chase economists said last week."Now the roles are reversed: Manufacturing growth has slowed as private construction comes to life."

Plenty could go wrong. The biggest threat is a large shadow inventory of unsold homes, homes which owners won't put on the market because they are underwater, homes that will be foreclosed eventually and homes owned by lenders. They have been trickling onto the market, slowed in part by government efforts to delay foreclosures; a flood could reverse the recent rise in prices. Or the still-dysfunctional mortgage market could get worse. Or overly zealous regulators or a post-election change in government policy could unsettle mortgage lenders or home buyers.

But the housing bust is over.

I now feel that today, right now, is the most perfect time to buy that I have seen in years. Here is why: For March 2012 (this was also true for February) we are seeing pending sales increase 17%, inventories decrease by 21%, the days on market time has decreased by 10%, the list vs. sales price has gone up 3%, the number of homes available to a buyer has declined by 29.8% (that is huge) and the months supply of homes for the lower end has decreased a whopping 42.8% from 7.6 month's supply to 3.6 month's supply (huge again). 

I am a numbers person and those numbers tell a story. So should you buy? In the words of Napoleon Dynamite " Heck, yeah!" The lower end market, under $250,000 is very fast right now. For the first time in years I am experiencing multiple offers, homes going quickly and buyers missing out that didn't position themselves correctly when writing an offer. Buyers and Sellers always seem to use laser like focus to hone in on that $2500 at the tail end of the purchase price. We have $250,000 or $200,000 that we are working with and they act like that last $2000 is what their offer is all about. It isn't. They really need to step back and see that as a buyer if they really like the property, it is in good condition, good location and that it will give them many years of enjoyment, why would you walk away from it when you can borrow that $2000 at under 4% and for $9 a month you can live where you want to live? I realize for investors and rental properties the numbers need to be where they need to be to fit your investment formula, but for an owner occupied home, take a wide perspective. 
You can't even buy a pizza for $9. Just saying. And for the sellers that refuse to come down that additional $2000 on their price to a qualified and willing buyer, what are you thinking? Even if you can make 6% return on that 2000, it would take you 25 years to make $3000 off it on straight interest. Never, ever, ever in this market or even in a great market leave several hundred thousand dollars sitting on the table in the hopes of making under $5,000. It is not smart and it is not worth it so that you can feel smug at dinner parties telling your friends how you squeezed that last $2000 out of someone. Instead tell the story of what a fair deal everyone got and how great you and the buyers felt and what a wonderful transaction it was. Oh, and how happy you are to move forward with your lives rather than being in the group of sellers that still have not got the memo and are lingering on the market year after year. It is a much more joyful story and people like joy.

Last few points on why this is a perfect time to buy. When the lower end starts moving like it is and we are seeing more investors and cash buyers coming into the market, which we are, we know that the middle range will follow this trend. So get going, call me, call your Realtor, get your check book and let's get into the real estate market.

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.