Good Monday Morning!
Both locally and nationally, the housing market continues to improve. Home sales continue to increase and home values are on the rise as well. Most of this demand is being fueled by mortgage interest rates that are at historic low levels. Home affordability is what dictates market activity and when home prices dropped significantly during the Great Recession, they met up with extremely low mortgage interest rates. As the economy began to recover, the housing market has lead the way due to lower home values and low financing costs. The result of the robust housing market is now driving home prices upwards and as home prices increase, affordability diminishes. This is why for both home buyers and home sellers you want to take advantage of this current market. In the near future, mortgage rates are going to increase and this is going meet with higher home prices, which will effect home affordability even more. The result of this will of course will be less demand and we start the cycle all over again. At this time though, buyers should enjoy great mortgage interest rates and take advantage of them. Sellers should enjoy a market that has strong demand and increased home prices.
Have An Awesome Week!
Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-in-Real-Estate-May-2016
THIS WEEKS HOT HOME LISTING!
3759 Westleigh St
Price: $185,000 Beds: 4 Baths: 2 Sq Ft: 1645
Great tandem townhouse! Terrific investment opportunity. Tandem property with garage and yard. Four bedrooms and two bathrooms, potential for two masters (one on main level). Large kitchen, window shelves and vaulted ceilings. Laundry hookup inside….View Home for Sale >>