Filed under: Loans/Financing/Credit, Real Estate, Uncategorized | Tags: condo eugene springfield, condominium eugene springfield
The FHA, along with Freddie Mac and Fannie Mae have made loans for condominiums harder to get. The FHA rules kicked in 7 December, and the Fannie and Freddie changes occurred earlier in the year. The rules change frequently enough, that it’s frankly hard to keep up with them. Still, condos are selling and people do get loans on them. The solution: work with a loan officer and realtor that understand condos.
In Eugene Springfield, plan on spending between 100K and 150K for a condo. There are units for more or less, but those are good budgetary numbers. Make sure to look at the HOA dues–some complexes are pretty high. If you’re interested in condos, give me a call at 517-6543. A condominium project in Eugene.
Filed under: Eugene Realty Listings, Uncategorized | Tags: apartments for sale springfield oregon, bob nelson, cap rate, Craig Tomlinson
Bob Nelson, a friend of mine, represents the seller on this nice apartment complex. They’re well priced and would make a great deal if you’re looking for beds. Apartments don’t change hands that often in Eugene Springfield, but we’ve seen several deals this year. At a cap rate of over 7%, they’re not a bad deal. For 72 units, the asking price is 3.34 Mm. If you’d like more information, give me a call 517-6543.
72 Units for sale in Springfield
Filed under: Eugene Realty Listings, Uncategorized | Tags: industrial build to suit eugene, Lot for lease eugene oregon, truck parking eugene oregon
If you need a place to park heavy trucks, this .8 acre lot would work well. It’s in West Eugene, and close to major arterials. We will also consider building to suit, if you need new warehouse space. Priced at 1K/mo., it’s a good deal.
Leasable lot in West Eugene.
Filed under: Eugene Realty Listings, Uncategorized | Tags: assumable debt, Industrial real estate eugene oregon, owner occupied, West Eugene
If you’re looking for a shop in Eugene, this spot is perfect. It’s about 1,800 square feet, has lots of power, 2 overhead doors, is plumbed for air with a compressor, and has an office and locker room. It has a fenced yard, and is about 1/4 acre. It’s also convenient to major arterials. Asking price is 225K, and some debt may be assumable. If you’d like more information or would like to see it, give me a call at 517-6543.
Perfect for owner occupied.
Filed under: Eugene Realty Listings, Uncategorized | Tags: Eugene Oregon Warehouse for lease, Industrial space for lease
If you’re looking to lease light industrial space, this building is a good deal. Located in West Eugene, this 12,000 s.f. building is divided approximately in two. The front half is at 36 cents per square foot, and the back is at 34 cents. The space is clean, newer and nice. It’s also very close to major arterials. If you’d like to see it or need more information, give me a call at 517-6543.
Nice warehouse for lease in West Eugene.
Filed under: Eugene Realty Listings, Real Estate, Uncategorized | Tags: Bank Owned, Crescent Village, Foreclosures, Lord Byron
Crescent Village is a nice project in Eugene, to the north of Costco. Tens of millions have been spent on it, and it’s a visionary new urban development; a mini-village with about everything you’d want.
Some of the townhouses on Lord Byron are an especially good deal these days. Originally listed in the 500’s, 4 of them are now bank-owned, as a result of the housing crisis, and are now in the 300’s. That’s a savings of about 150K!
I’ve shown them before, and they’re not for everyone. The fit, finish and materials are superb, but it’s up-and-down living, which puts some people off. But, if you want something hip and cool, where the action is, I’d give them a look. Give me a call at 517-6543 if you’d like to see them.
Foreclosures in Crescent Village are a good deal for buyers.
Filed under: Loans/Financing/Credit, Real Estate, Uncategorized | Tags: 2009 summary, 2010 forecast, Craig Tomlinson, eugene oregon, Eugene Real Estate, Eugene Real Estate Blog, Lane County Real Estate, Oregon Real Estate, Oregon Real Estate Blog, Real Estate Blog, Real Estate Information, Real Estate News, Real Estate Resource, Springfield Real Estate
Not much of a picture, but the best I could do under the circumstances (fog and on Christmas.) This is somewhat analogous to Eugene in 2009–not much of a year, but we did the best we could. We started the year with a terrible real estate market, with inventories close to 2 years. Fear and gloom were palpable with record unemployment and the greatest recession in many of our lifetimes.
While not spectacular, 2009 ended up better. Housing inventory shrank drastically, to around 6 months, and we even had a bit of a seller’s market in some areas. Distressed sales, namely foreclosures and short sales, were prevalent. Record low interest and the first time buyer’s tax credit helped pull us out of the slump.
My forecast for Eugene in 2010:
1) Housing prices will trend up slightly. Median price in Eugene will hover around 200K.
2) Interest will remain low for the first half of 2010, and be in the sixes by year’s end.
3) Unemployment will decrease to 8-9 %.
4) Distressed property sales will continue to play a major role in our housing market, with probably 1 in 10 sales in this category.
2009 Christmas was Foggy in Eugene Springfield.
Filed under: Eugene Realty Listings, Real Estate, Uncategorized | Tags: Craig Tomlinson, eugene oregon, Eugene Real Estate, Eugene Real Estate Blog, Lane County Real Estate, Oregon Real Estate, Oregon Real Estate Blog, Real Estate Blog, Real Estate Information, Real Estate News, Real Estate Resource, Springfield Real Estate
The WSJ recently ran an article that had more specifics about the home buyers tax credit, which can be used on homes up to $800,000 and has a maximum income limit of $245,000. The credit does have to be used for the purchase of your principal residence, but you no longer have to be a first time home buyer!
I recently sold this move-up house in South Eugene for 342K, on short-sale, down from the original listing price of 539K. There are plenty of good deals to use the tax credit on.
Short sales are some of the best bargains in Eugene.
Filed under: People and Business, Real Estate, Uncategorized | Tags: Eugene Real Estate Investors Forum, Kim Crieger Goodwin, Meet up, Real Estate Eugene
If you’re interested in learning more about real estate investing, you’re welcome to join Kim Crieger Goodwin and me for our monthly Eugene Real Estate Investor Forum. It’s held monthly on the second Mondays at the Countryside Restaurant in Eugene.
Filed under: Loans/Financing/Credit, Real Estate, Uncategorized | Tags: Craig Tomlinson, eugene oregon, Eugene Real Estate, Eugene Real Estate Blog, fha loans, FHA reserves, Lane County Real Estate, Oregon Real Estate, Oregon Real Estate Blog, Real Estate Blog, Real Estate Information, Real Estate News, Real Estate Resource, Springfield Real Estate
FHA capital reserves have fallen to ½ %, short of the 2 % minimum required by congress. In part this is due to FHA insured loans gaining in popularity, and in part it’s due to a higher default rate. FHA backed loans are one of the few ways of getting a home mortgage with less than 20% down payment.
So, what’ll happen? Most likely, at least in my opinion, will be an injection of capital from the Treasury. Alternatively, the minimum down payment may be raised from 3.5%, although this would chill the fragile housing recovery, and may be less politically tolerable.
I recently sold this house on short-sale, or pre-foreclosure, to buyers who used FHA for financing.
Down Payments as low as 3.5% are available through FHA.
