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Office Location 4710 Village Plaza Loop,
Ste 200
Eugene, Oregon 97401
Direct: (541) 844-9287

Eugene Oregon Real Estate Strong Despite National Media Tactics

Posted by Dennis Pease on Monday, December 8th, 2008 at 2:29am.

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 into hanging onto their money rather than going about their daily lives to the point that our economy is now in a recession. I admit that is a very short simplified version of how we got in this mess, but anymore would be a blog post of its own. The media should have some sense of moral responsibility when it comes to reporting and at least give equal time to positive stories.

Before we look at some of those positive stories… let us agree that some areas of the country did experience tremendous and illogical real estate growth based on speculation and greed, but the Eugene real estate market was not part of that. So it is realistic to see those markets come back to reality. How about this though, do you hear the media reporting that mortgage rates are currently near 40 years lows (as of last Friday a 30 year fixed rate mortgage was 5.375%) and with home prices that have been falling for over 2 years real estate investors are coming back in the market. There are some really good buys right now and with mortgage rates this low, affordable payments can be had again.

Eugene Oregon is not insulated from the rest of the country, there people struggling, job losses, etc. But not everyone is hurting like media would like you to think. It has been said that November 2008 was one of the worst months on record Nationwide so I wanted to see how the Eugene real estate market did. I knew it wasn't that bad. So I looked at the last 30 days for Eugene single family homes only. This does not include land sales or even condos which would increase these numbers but for this article I just wanted to look at single family homes.

In the last 30 days in Eugene (not including Springfield ) there were 101 homes that sold and there are currently 150 pending sales, meaning homes that have accepted contracts and are in escrow. The sales numbers are encouraging and the pending sales show that people are still writing offers. Thank God we were all given brains of our own to think with, right?

So in Eugene Oregon there is plenty of housing available, so it's not a housing crisis, it is a buyers market. Lenders are still lending money, so it is not a mortgage crisis, and with nearly all time low mortgage rates it's a buyers market.

The media would like you to buy investments like real estate when the markets are booming, on the other hand smart money people sell when prices are high. The media is now scaring everyone as much as possible which will cause a lot of people to sell investments now when prices are low, on the other hand, smart people buy investments when they are low... Find your bargains now!

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3 Responses to "Eugene Oregon Real Estate Strong Despite National Media Tactics"

Dan Nappi wrote:
Hey Dennis, I agree the media is looking out for their interest in selling papers and I believe they are the biggest cause right now in the lack of motivation for people who want to buy but are just sitting on the fence.

Posted on Tuesday, February 17th, 2009 at 3:14 AM.

Phoenixville Real estate wrote:
Media every times quits from their responsibility, which make very bad effect on it, instead of any motivation media started to demotivates people around.

Posted on Tuesday, February 17th, 2009 at 3:19 AM.

johns island wrote:
I knew it wasn't that bad. So I looked at the last 30 days for Eugene single family homes only. This does not include land sales or even condos which would increase these numbers but for this article I just wanted to look at single family homes.

Posted on Monday, June 1st, 2009 at 3:50 AM.



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