It’s been so long since I’ve heard the sound of compressors and nail guns, I nearly forgot what they sounded like. New building in subdivisions in Eugene has slowed to a crawl. Difficult financing, low demand, and a shaky economy have all but silenced the builders’ hammers.
The developer of MacIntosh Manner, however, is doing some building. Apparently, on spec, too. The subdivision is located in the lower River Road area, and is visible from the Northwest Expressway, when you drive by. Their product is attractively priced at under $150/s.f., but demand is unknown. Whether this will be the tail end of the previous boom or the start of the new recovery will become apparent in time.
McIntosh Manner is one of Eugene's few subdivisions being built in 2010.
Well, the drop in housing prices seems to be over for some Oregon Cities, at least according to Money Magazine. Housing prices in Eugene, Corvallis and Bend are expected to increase, making them among the top 25 appreciating housing markets in the United States this year. For Eugene to make the top 25 it has a predicted increase of 1.6%.
The 8K tax credit is still available until the end of April, and there are some really good buys out there. Get ahold of me if you’d like to see something before the prices go up.
There's usually something to do in Eugene. Photo by Craig Tomlinson, III
Condos from The Farm on Cal Young were auctioned, with sealed bids due 21 April. Minimum bids started around 80K for the studios and 175K for the one bedroom units. The auction was being handled by a Portland firm. Until then, no units had sold. At auction, some but not all, of the units sold