Good News for Real Estate Sales!

Finally!!

Watching the morning news today and we hear good news about real estate! That's a real shocker! Of course, the "pollsters" also have conflicting numbers, it's all a matter of who you ask! My favorite source for all things real estate, is of course the National Association of Realtors!

We all must keep in mind whenever you are listening to real estate market news, that each market can have it's own ups and downs, independent of what's happening nationwide, as well.

Here are some of the out-takes I found interesting from the AP today:

"The Commerce report on new home sales showed the April rebound was led by a huge 41.7% surge in sales in the Northeast. Sales were up 8.3% in the West and 5.8% in the Midwest. The only region which saw a decline in sales in April was the South, where sales fell by 2.4%.

"The inventory of unsold new homes edged down slightly to 10.6 months' supply at the April sales pace, compared with 11.1 months in March. However, the April level was still about double the inventory level that was normal during the five-year housing boom."

"That boom ended in 2005 and since that time the housing industry has been struggling in a tough environment with falling sales and prices and rising mortgage defaults."

From the NAR:

"...a greater number of areas are showing sales gains from a year ago and a recent reversal in mortgage policy means the market is better positioned for a turnaround, according to the National Association of Realtors®."

"According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage slipped to 5.92 percent in April from 5.97 percent in March; the rate was 6.18 percent in April 2007."

"Regionally, existing-home sales in the West rose 6.4 percent in April to a level of 1.00 million but are 15.3 percent below a year ago. The median price in the West was $285,700, which is 16.7 percent lower than April 2007."

What does it all mean??? It all adds up to what we've been saying, the market is great for buyers, and starting to look better for sellers!

Give us a call! 800-860-6774

Joy Young Gugel
Broker
with:

Bonnie Jenkins
ABR CRS CRB GRI
Principal Broker
PSI Property Specialists

Memorial Day Weekend!

Well, we have some not-so-hot weather, and the first big weekend of Summer on it's way!

Mostly everyone will be heading out of town to enjoy the long weekend, but sometimes we get a flood of traffic, people looking to buy a new home... if you have trouble reaching anyone this weekend, Give me a call!

I just checked our hotsheet report this morning, and we are showing a total of 28 Closed Sales for our Roseburg RMLS areas over the last 7 days! (Friday at 9:48am)

One of those sales was over 1-MILLON Dollars, six additional sales were over $300,000. I think this data shows great promise for the upcoming summer!

We want to wish you all a very happy Memorial Day weekend! Be safe, Have fun & if you're Driving, Drive Carefully!

Joy Young Gugel
Broker

With:

Bonnie Jenkins
ABR, CRB CRS, GRI
Principal Broker
PSI Property Specialists

Latest Roseburg Real Estate Market Statistics!

Well here we are in the midst of a little May heat wave! It's Wonderful!!!

This Week ending 5/16/08 at 9:44am RMLS is showing me a total of 20 Sales Closed in our local market area! I checked earlier in the week, and have been getting consistent numbers!

The new RMLS Real Estate Market action is out, and the results are promising for the Summer!

As Quoted from RMLS:

"April Residential Highlights
April 2008 results showed a 2.4% increase in closed sales compared to
April 2007. On the other hand, pending sales dropped 4.6%. New listings
also fell 20%. Inventory in months dropped to 14.2 months in April - down
from 19.6 in March."

The best news is that real estate is still selling! We aren't seeing the mortgage-market-induced inflated prices like we did in years past, prices are still on a correction path.

However, if you are looking to buy... this couldn't be a better time!

Yes, it's still a Buyer's Market!

But we have an increase in closed sales, which means Sellers also can feel good about it! The inventory of unsold homes is actually dropping as we see Sellers who weren't really motivated to sell, dropping off the boards!

When you're in the market for Excellence, Give us a call! 800-860-6774 Toll Free!

Joy Young Gugel
Broker

for:
Bonnie Jenkins, Principal Broker
ABR, CRB, CRS, GRI

The Roseburg Real Estate Market!

Well, the slowdown is official, but I can tell you that with the current interest rates and the drop in market value... this is the strongest Buyer's Market I have ever seen!

Current interest rates today 5/5/08 from Bankrate.com is 5.77% for a 30 year Fixed Mortgage!

Quoted From the RMLS March Market Action Report for ALL OF DOUGLAS COUNTY: (not just Roseburg)

"March Residential Highlights
The numbers for March 2008 compared with those of the same month in
2007 show a 16.2% drop in new listings. Closed sales also decreased 43.8%,
while pending sales fell 38.7%.

First Quarter/Year-to-Date
Comparing the first quarter of 2008 (January-March) with the same
period in 2007, new listings were down 1.5% (678 v. 688). Closed sales also
dropped 33.1% (182 v. 272) and the number of accepted offers decreased
29.5% (230 v. 326).

Appreciation
Comparing the average sale price for the 12 months ending in March
2008 with that of the 12 immediately prior, it depreciated 1.8% ($208,300
v. $212,100). On the other hand, the median sale price rose 2.8% ($185,000
v. $180,000)."

If you are thinking of Buying real estate this year, you've made a good decision!

Let us help you with all the details!

Bonnie Jenkins, Principal Broker ABR CRB, CRS, GRI

Written by:
Joy Young Gugel, Broker