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Cody Croslow Real Estate » Real Estate Southern Oregon http://codycroslowrealestate.com Southern Oregon Real Estate Agent Mon, 10 Jun 2013 21:07:49 +0000 en-US hourly 1 http://wordpress.org/?v=3.5 The problem with “How’s the Real Estate Market?” http://codycroslowrealestate.com/the-problem-with-hows-the-real-estate-market/ http://codycroslowrealestate.com/the-problem-with-hows-the-real-estate-market/#comments Mon, 10 Jun 2013 19:27:53 +0000 Cody Croslow http://codycroslowrealestate.com/?p=568 The question I get asked most often by people when the conversation turns to what I do, is by far “How’s the market?” The problem with this question is that it’s not really a question that has a straight-forward answer. For example, a well known real estate coach (Tom Ferry) likes to answer “Well, that [...]

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]]> The question I get asked most often by people when the conversation turns to what I do, is by far “How’s the market?” The problem with this question is that it’s not really a question that has a straight-forward answer. For example, a well known real estate coach (Tom Ferry) likes to answer “Well, that depends, are you looking to buy, sell, or invest?” Which is a very good way to illustrate why this particular question isn’t as simple as most of us Realtors like to treat it as being. In my experience, most agents will respond with something along the lines of “The market is strong! Prices are coming back up, people are buying, it’s a great time to get into the market!” with a very strong, enthusiastic tone of voice, and some manner of body language that conveys excitement and positive-ness.

 

In truth, the market is different for everyone. If you have a house in good condition, located in East Medford, Central Point, or Eagle Point, listed between about $100,000 and $250,000; the market is great! You can probably get a great price for it, and it will most likely sell very very quick, with multiple offers.

 

Conversely, if you are looking for the above house as a buyer, you will have to move VERY quick when it pops up on the market, and there will be others in the market with you that are willing to battle it out, so come prepared with your highest and best offer right from the get-go, rather than trying to get a good deal.

 

As an investor in today’s local market, you will have a bittersweet time. Unfortunately, when the market crashed, there were a lot of people who decided that because prices were down, they were going to get into real estate investments (which is a great place to be, by the way), and so there is a lot of people with a little cash burning a holes in their pockets. That’s not to say you can’t find something and make some good money while investing your hard earned money, but it DOES take effort, and a good agent.

 
So how’s the market? I guess that depends on you, let’s find out!

 

Cody

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]]> http://codycroslowrealestate.com/the-problem-with-hows-the-real-estate-market/feed/ 0 Jackson County Oregon Property Statistics http://codycroslowrealestate.com/jackson-county-oregon-property-statistics/ http://codycroslowrealestate.com/jackson-county-oregon-property-statistics/#comments Sun, 10 Feb 2013 23:32:51 +0000 Cody Croslow http://codycroslowrealestate.com/?p=407 It’s a great time to purchase a home! Based on the recent Jackson County Property Statistics published by the Southern Oregon MLS (from November 1, 2012 to January 31, 2013), we have seen a 21% overall price increase in real estate in the past year. This is great news for all those folks out buying [...]

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It’s a great time to purchase a home! Based on the recent Jackson County Property Statistics published by the Southern Oregon MLS (from November 1, 2012 to January 31, 2013), we have seen a 21% overall price increase in real estate in the past year. This is great news for all those folks out buying real estate in Southern Oregon right now, because it means we are at or very near the bottom, and starting our slow ascent back up. That 21% rate is most likely the result of a combination of the current shortage of inventory, coupled with the large number of buyers out there trying to scoop up properties at rock bottom prices and interest rates. We’ll see what will happen in the next year. Some folks say there is a large “shadow inventory” that the big banks are holding on to, and when those hit the market, the market will drop some more. There are also those who say that isn’t true. Only time will tell.
 
I have attached the statistics here for you to look at regarding the Rogue Valley’s pricing and sales volumes, but the general idea is that it looks very good for our area.
jacstats012013

To view this table larger, view the original Jackson County Property Statistics.
 
If you compare the 5 year change vs the 1 year change, it is a phenomenal difference. There are a few areas (Ashland and Jacksonville) that spike the overall pricing and sales up, so they look a little higher than they are, but we are still seeing 12% or better growth in most areas. This is huge! It means that last year was the best year we have had in a long time, and signals our slow return to a stable market. So go out and buy a house!

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