Eugene Oregon Real Estate Blog by Craig Tomlinson


Springfield Apartments for Sale

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



Eugene Lot for Trucks

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.



Shop in Eugene For Sale

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.



Nice warehouse for lease in Eugene

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.



Foreclosures in Crescent Village

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.



Tax Credit Extension

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.



Apartment Loan Defaults Up

Apartment loans are defaulting at an increasingly higher rate. Fannie Mae, a major source of apartment lending, is showing loan delinquency rates up about 6-fold from a couple of years ago. Still the absolute rate is less than 1%, which isn’t outrageous. These numbers are nationwide and don’t represent Lane County.

In Eugene Springfield, apartments remain highly desirable, particularly smaller complexes under 2Mm dollars. These are affordable by individuals and can be financed by local banks and credit unions. Perhaps, most desirable of all are campus units, which are perceived to be low risk.

I have this campus apartment house listed at 900K. It’s 10 units, each 2 bedrooms. There’s upside potential because with some cosmetics, the rents could be bumped. It has debt of about 550K that should be assumable. If you’d like to see it, give me a call at 517-6543.

Nice campus apartments, on the Millrace, with a view of the Willamette.



Pre-foreclosure in Santa Clara
November 28, 2009, 7:26 am
Filed under: Eugene Realty Listings, Uncategorized | Tags: , ,

I just listed this pre-foreclosure, or short-sale, house in Santa Clara for 299K. It’s a really nice house and a great deal. It’s 2300 square feet, and only 5 years old. Someone will enjoy making a new home here.

If you’d like to see it, give me a call at 517-6543 and I’ll be glad to show it to you.

Good deal on recently listed short sale in Santa Clara



Owning vs. Renting

Most people intuitively know that it’s better to own a house instead of renting a place. The NAR recently looked at the data and found that the net worth of home owners exceeds that of renters by a factor of 50 to 1, with the main difference being home equity. 50:1 – wow.

There are still plenty of affordable good buys out there. This house is in a quiet neighborhood and is in the 160’s. It’s been remodeled and is on a large lot.

If you’d like to see it, give me a call at 517-6543 and I’ll be glad to show it to you.

Another affordable house in Eugene Springfield.

Another affordable house in Eugene Springfield.



TV story on Short Sales and Foreclosures in Eugene

I’m basking in my 15 minutes of fame. Our local CBS station, KVAL, interviewed me for their piece on foreclosures and short sales in Eugene. Guess I’m working on the big fish in the small pond theory :)