Eugene Real Estate Blog | Lane County Oregon Blogs 
Eugene Oregon Real Estate Strong Despite National Media Tactics
Monday, December 8th, 2008 at 2:29am. 634 Views, 3 Comments.
We have all watched the national media spew doom and gloom this whole year using scare tactics when addressing the real estate market. The media DOES have ulterior motives for this type of reporting. Their focus this year was strongly meant to swing the presidential election, more so than they have ever done in the past. Secondly and maybe more importantly; the media is not just in the business of reporting (fact is they are not even very truthful at it), they are in the business of making money by selling advertising and gaining ratings. They know the worse the news is and the more they can sensationalize it, the more our sick little minds want to know about it.
Because of their self-fulfilling prophecies they have scared the majority of the public…
Eugene Mortgage Loans - Rates Down
Friday, December 5th, 2008 at 9:17pm. 510 Views, 3 Comments.
Well! Wild week! The horrific jobs report is all over the news so I won't spend time on it, other than to tell you that a “dismal” report was already expected, and the appropriate figures were already priced into the markets. However, since the report showed job losses way above what was expected, (533,000 vs. 325,000 anticipated) we really were looking for mortgage rates to go lower today. Not the case however. The stock market rallied this afternoon and drove rates a bit higher. Higher, but still near 40 year lows.
Rates dropped significantly the Tuesday before Thanksgiving and stayed down all through this week. We'll see what next week may bring.
You've heard by now about the plan for 4.5% 30 year mortgage rates. A little clarification…
Oregon Pushing for a Green Environment
Thursday, November 13th, 2008 at 2:10am. 1285 Views, 12 Comments.
Due to being located in the Pacific Northwest of the United States, Oregon has had a vast interest in sea faring activities. Moving toward newer green and sustainable approaches to various industries, Real estate brokers and those searching to remodel or purchase new homes should take the precautions necessary to rid any signs of asbestos. There are many things potential homeowners should understand about building materials before making the move.
Homes built prior to 1980 may contain asbestos and other harmful products. As long term cost and technology continues to evolve, so is the need for environmentally sustainable and healthy materials used for construction.
Organizations such as Environment Oregon have led efforts to harness the wind and…
Eugene Oregon Real Estate - Mortgage Rates Update
Sunday, November 2nd, 2008 at 3:03pm. 507 Views, 3 Comments.
Mortgage rates are just a bit higher today over last Friday, (see rates below), due primarily to lower pricing in the bond market. However, this is no surprise following another short term rate cut by the Federal Reserve (FOMC) on Wednesday. As I've mentioned before, these rate cuts have no direct effect on mortgage rates, but we inherently see mortgage rates jump up for a short time due to the inflationary nature of the Fed's rate cut.
There have been a couple of positive reports this week worth noting. On Wednesday the Commerce Dept reported that the “Durable Goods Orders” (orders for goods expected to last longer than 3 years) were up 0.8% when they were expected to fall 0.1%. This indicates more activity in the manufacturing segment than was…
Weekly Mortgage Report - NAR Reports 5% Increase In Existing Home Sales
Sunday, October 26th, 2008 at 11:59pm. 466 Views, 2 Comments.
Rates for 30 year fixed mortgages were below 6.00% on Tuesday and Wednesday, but have now gone up to the 6.25% as shown below. Also shown below, you can see that adjustable rate mortgages are not attractive at all to the secondary market, and are therefore much higher in rate than fixed loans.
The good news is that we are still doing loans. As evidenced by the 5% increase in existing home sales reported this morning by the National Association of Realtors. So, buyers can, in fact, buy in this market, and apparently many are.
Next week the Federal Open Market Committee meets again, and may lower the short term rates again. There are opposing rumors on that, but the rate lowering scenario has been their “go to” tool to help stimulate the…
Eugene Home Buyers - Sitting On The Fence
Saturday, October 18th, 2008 at 5:44pm. 673 Views, 15 Comments.
This report comes a day early this week since I will be on the road early tomorrow morning, but with cell phone and laptop I'll still be able to help you and your clients.
Unfortunately I need to start off with some bad news, in the form of the rates chart below. The increase in the 30 year fixed rate in just one week (10/8 - 10/15) was the largest weekly jump since April of 1987. Now, though this is not particularly good news, it can help you.
If you have buyers on the fence waiting for the “bottom” in home prices, this is the perfect “big stick” to knock them off with. There is a terrific brochure, from the Lane County HBA, making its rounds out there right now, talking about the exceptional buyer's market we're in. I've sent it out to my…
Volatile Stock Market, 700 Billion Bailout Affecting Consumer Confidence
Saturday, October 11th, 2008 at 3:28am. 568 Views, 4 Comments.
Well, where do I begin? Certainly I'm not going to tell you the “meaning of life” in this market. However, there actually is some meaning to it. If you go back almost exactly one year ago, when the stock market hit their all time high, at 14,164 on October 9, 2007, it was apparent to a lot of people that the stock market was truly overvalued. There was much talk at that time about “value corrections” that were inevitable. Guess what? They're here!!!!!
Of course, the stock market has been trending down since that time, ever so slowly, (so you wouldn't notice), until now, when it's crunch time. You need to understand, for your own peace of mind, that all the companies listed on the New York Stock Exchange, as well as all the others around the…
Bailout Bill Passed Today - Lorin's Weekly Report
Friday, October 3rd, 2008 at 7:36pm. 597 Views, 13 Comments.
I can't pretend to know the outcome of this “bailout bill”, but I have to say that, even though it may not have been necessary, (we'll never know now), it probably will not be our downfall. Both the Senate and the House have now passed it, and it's on its way to the President's desk for signing.
The one thing that would concern us all, is if the Treasury has to print more money to implement this bill. That would certainly raise the fear of inflation, and could ultimately bring prices down in the bond market, and likewise mortgage rates up. However, if the whole thing frees up funds for lenders to lend, then we'll be in better shape in the long run. Time will tell. As you'll notice though, with all that's been going on, mortgage rates have not…
Eugene, OR Mortgage Lenders - Weekly Updated Home Mortgage Rates
Sunday, September 21st, 2008 at 8:00pm. 570 Views, 3 Comments.
Lots of talk out there right now, which, unfortunately shapes the markets. I say unfortunately only because what we hear right now has very little to do with the “long term” goals our clients should be considering. If you have had an ear to the media today you know that Congressional representatives have met with Henry Paulson, Ben Bernanke and others to try and find a solution to the huge financial crisis that seems to be looming.
However, if you've also been watching the markets at the same time, you've seen that the very fact that there has been a meeting has put the stock market back right with itself, and taken much of the gains away from the bond market. This only means that the volatility is day by day, and should definitely NOT keep home…
Florence Oregon Planning Commission Considers New 17 Acre Subdivision
Saturday, September 6th, 2008 at 2:13am. 698 Views, 4 Comments.
Eugene Oregon based Arlie & Company addressed the Florence Planning Commission to lay out plans for a 17 acre development and neighborhood village tentatively called “Cannery Hill.” The subdivision is planned to be built in phases on land across from Fred Meyer store north of town on Highway 101 and Munsel Lake Road, in an area of another new subdivision, Maxwell Construction's Spruce Village.
The proposed project by Arlie & Company would be a mixed use project (residential & commercial) which the developers say is intended to provide housing choices and employment opportunities including retail and services to meet the needs of residents just North of Florence.
Arlie & Company has plans to complete the project in phases allowing up to 10 years and…
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