What’s happening in the Southern Oregon real estate market? I have a few important points homebuyers and sellers should know.
A lot of people are asking if it’s a good time to buy or sell in our market right now. The good news is that it’s a great time to do both for many reasons.
First, the market is very hot right now. Spring is coming up, which means there is a lot more activity as more buyers and sellers enter the market.
It is a seller’s market, which means sellers have the upper hand. They can price things where they want and buyers are scouring the market for houses.
The good news for buyers is that interest rates are still at historic lows. As rates creep up to a normal range between 6% and 10%, that will push your mortgage payment up as well.
Home prices are right on track with where they are supposed to be. As a seller, you want to be in the market right now. If interest rates creep up, it could create downward pressure on pricing for sellers.
Today is a very good time to take advantage of those 4% interest rates. We’ve had rates this low for several years now, but it’s important to remember that these low interest rates are not the norm. Once rates do go up into their normal range, both buyers and sellers will be affected.
If you have any other questions about buying or selling in the 2018 real estate market, just give me a call or send me an email. I would be happy to help you!