Filed under: Eugene Realty Listings, People and Business, Real Estate | Tags: springfield, new housing, arrested development
This housing development that I wrote about earlier in the year is finally in the process of being completed. Despite being repossessed, developer Hayden Homes is on track to build 100 home sites, with the first one, the model home, being completed around July 17th. The first phase of the development, consisting of about 10 homes, will be completed in around August or September. Reservations are being taken for the 10 initial homes, with an opening price of around 140K. There are seven home plans, ranging in size from 1,041 square feet for a 2 bed, 1 bath to 2,192 square feet for a four bed, 2.5 bath home.
Filed under: Eugene Realty Listings, Loans/Financing/Credit, People and Business, Real Estate | Tags: Eugene, real-estate market, springfield
A housing shortage could be looming in the not too distant future. While it may seem impossible now, over the last 3 years too few new homes have been built, creating a deficit of over 1.5 million homes, that could climb to a shortage of over 2 million next year. Some 1.6 million homes must be added each year to keep pace with demand from population increase and old house demolition. This should prop up house prices over time.
These trends are heavily reflected in Eugene and Springfield, where new building has slowed to a near stop. In 2009 and 2010, there were probably fewer than 100 new houses built. This means that house prices in Eugene and Springfield should increase, along with the national market. New construction has slowed severely in the last 3 years.
Filed under: Eugene Realty Listings, Loans/Financing/Credit, Real Estate | Tags: eugene springfield, foreclosure, Short Sale
In case you havent been watching the real estate market lately, foreclosures have far from gone away. In fact, according to a recent report the number of foreclosures in Eugene Springfield jumped half a percentage point, to 1.6 percent in April. This trend is reflected nationally, with the number of homes owned by banks in March being estimated at around 522,000, and recent projections indicating that the number is on the rise. So, what are the alternatives to foreclosure?
Loan modification, deed in lieu, and short sales are the practical alternatives. Short sales occur when you owe more money than the house is worth. One advantage to a short sale is less damage to your credit than a foreclosure. You’ll need a realtor to help with a short sale, but the commission is included as part of the sale; in other words it doesnt cost you anything.
Of course, if you’re a buyer, foreclosures and short sales arent such bad news; these are some of the best deals around. The house shown below is one of my listings. Its clean and a great deal. At $149,000, affordable housing in Eugene is still around.
Affordable housing is still available.
Filed under: Eugene Realty Listings, Loans/Financing/Credit, Real Estate, Uncategorized | Tags: affordable housing, housing eugene springfield, mortgage rates
Mortgage interest rates continue to be very low, below 5%, which are some of the lowest rates most home owners have ever seen. Concerns over European finances caused investors to buy U.S. bonds, which pushed the price down; mortgage interest rates follow the 10 year Government Bond.
Longer term trends are less clear. The Government will begin selling its portfolio of 1 trillion dollars worth of home mortgages, acquired in 2009 & 2010, which will push interest rates up. And, Fannie Mae and Freddie Mac continue to need cash infusion, a sign of a weak national housing market. So far, Fannie has lost $145 billion dollars, a sum more than the combined profit it made in the last 35 years.
Home sales around Eugene Springfield were brisk in April, which seemed to be correlated to the expiring tax credit at the end of the month. The big question in the industry was: would sales grind to a stop? They have not and continue to be in keeping with the busy spring season. Prices have remained stable.
This listing of mine sold received an accepted full priced offer within a couple of days of going on the market. Affordable housing continues to be hot in Eugene.
Affordable houses fly off the shelves.
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 200K, 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: Eugene Realty Listings, Real Estate, Uncategorized | Tags: eugene oregon, Real Estate Resource, Lane County Real Estate, Eugene Real Estate, Springfield Real Estate, Oregon Real Estate, Real Estate Blog, Real Estate News, Real Estate Information, Craig Tomlinson, Oregon Real Estate Blog, Eugene Real Estate Blog
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.
