Real Estate Market

Featured Listing

Featured Listing

For Sale: $4,000

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Market Trends

Say thank you to a veteran

Memorial Day, which falls on the last Monday of May, commemorates the men and women who died while serving in the American military. Originally known as Decoration Day, it originated in the years following the Civil War and became an official federal holiday in 1971. Many Americans observe Memorial Day by visiting cemeteries or memorials, holding family gatherings and participating in parades. Unofficially, at least, it marks the beginning of summer.

I had several uncles serve in WWII and they were very stoic, never talked about it.  I knew one uncle had many medals from heroically serving in combat, but you never saw them.  I have another uncle who is now in his mid 80's and is talking about the war alot since his wife of 55 years has passed on.  Horrible memories but he felt is was his duty and he is proud of his service.  So am I, and I make sure every Memorial Day I call him to thank him once more for what he did for our country and the world.  His best stories, however, are about when he returned from the war and met my Aunt Ruby!  What a story!

Take the time this weekend to tell our service men and women how much you appreciate what they do for us.  Make them proud and make them feel their contribution is important - today and yesterday.

How is he Real Estate Market

When comparing market activity in the Greater Lane County area in May 2010 with the same month last year, closed sales rose 29.6%. Pending sales and new listings both decreased 20% and 0.4%, respectively

When comparing May 2010 with April 2010, closed sales went up 3.2% (320 v. 310). Pending sales fell 45.4% (256 v. 469) and new listings also dropped 24.2% (524 v. 691).

At the month’s rate of sales, the 2,312 active residential properties would last 7.2 months.

SALE PRICES

Sale prices increased in Lane County during May 2010. The average sale price for May 2010 increased 2.1% compared to May 2009. The median sale price also went up 2.3%. See residential highlights table below.

Month-to-month, when comparing May 2010 to the month prior, April 2010, the average sale price and median sale price both showed increases. The average sale price went up 4.5% ($228,800 v. $218,900) and the median sale price grew a slight 1.8% ($203,500 v. $199,900.

Can Interest Rates Go Lower?

Well, I am now hearing that, yes, it can!!  Rates have been hovering around 5% for a 30 yr fixed, for quite some time.  I am now seeing that dip into the upper 4%.  If you would like to know if refinancing would be good for you, give me a call and we'll run your numbers.  Of course, this makes an excellent time to buy another home.  Let me run the numbers on that for you also!  As always, just call 225-298-6900 and we'll get you the answers you need!

And, yes, our market does have some distressed properties and a few bank owned properties.  If you want a list of these properties, just call us at 225-298-6900 or email me at pat@patwattam.com and we'll get that list to you!

Contact Information

Photo of RPS Sales Real Estate
RPS Sales
Real Pro Systems
1200 Executive Parkway, Suite #400
Eugene OR 97401
541-743-8510
Fax: 541-743-8535