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It is also interesting to note that the number of distressed properties verses the non-distressed properties have declined since last year at the same time.

Here is the current Market Action for Lane County including Eugene and Springfield.

Lane County Market Trends

Have you ever wondered why your realtor isn’t always honest with you? We do to. Here is a list of things some realtors won’t tell you, but we will.

1. Open Houses only helps the Realtor pick up new clients. Only 1% of all open houses sell.
2. Don’t be offended by a low ball offer. In this market buyers are trying to get a steal of a deal. If they like your house enough to make an offer, negotiate with them.
3. Beware of listing agents that over price your home to get the listing. Agents that “buy your listing” are not looking out for your best interest. And typically, the seller ends up with less for the house in the end.
4. House values on Zillow or Trulia are good for estimating value, but they only compare homes with similar size and neighborhood and do not take in consideration the interior of the home or the amenities.
5. Staging a home is valuable in a down market. An empty home looks smaller because it is hard for buyers to get a feeling of space.
6. Fliers in front of a house are out dated and will not help sell the home. People who take fliers are often curious neighbors or drive bys. Real buyers will call or go online for info about your home.
7. The real estate commission is split between two brokerages. After taxes and expenses the commission can dwindle down to a mere 1.5%
8. Not all REALTORS are created equal. Many agents sell real estate part time, or as a side job in retirement. Always ask how many transactions your REALTOR has closed in the past year.
9. Plug in air fresheners, sprays and other de-odorizers make it obvious there is an odor someone is trying to hide.
10. If a realtor is willing to discount their services, how good are they going to be at negotiating the best terms for their buyer or seller client?

Watch this months clip of Reality of REALTY!

In the dictionary, Real Estate is defined as “property consisting of land and the buildings on it, along with its natural resources such as crops, minerals, or water; immovable property of this nature; an interest vested in this; (also) an item of real property; (more generally) buildings or housing in general.”

Where did this term real estate come from?

The word “Real” in middle English means “the quality of property or things”. We call things ‘real’ that we can touch, smell, see, taste, etc. The Latin root, of ‘real’, (res), translates as “thing”

The word “Estate” is defined as the extent of an owner’s rights with respect to real property.

Some claim the modern term real estate comes from the English feudal principle that in a monarchy, all land was considered the property of the king, making real estate equivalent to “royal estate”. This system revolved around the hierarchy who would allow people to lease land in exchange for goods or services or money.

The earliest document using the term real estate dates back to 1605. It is also noted that the use of the term “real” was used 500 years prior in relation to land and the ownership of it.

The term Real Estate is also used to describe a Profession, and the term “real estate agent” to describe the professional. In 1908, the National Association of REALTORS® was founded for the purpose of “…uniting and effectively exerting a combined influence upon matters affecting real estate interests”. The Code of Ethics was subsequently adopted, followed by registering the marks REALTOR® and REALTORS® with the US Trademark office, and is used to identify real estate agents who are members of the National Association of REALTORS®, and adhere to the strict Code of Ethics.

Real Estate has evolved into a huge force in our economy and around the world and fortunately, it’s not just for Kings any more.

Make minimum payments. Credit card companies require borrowers to pay the minimum balance. Paying less than the minimum can result in penalties, increased interest rates and default.

Make additional mortgage payments. To pay down the principal amount faster and reduce total interest paid, consider making additional payments. By paying one-half of the regular monthly mortgage payment every two weeks, for example, you will make the equivalent of 13 monthly payments for the calendar year and reduce the total interest on the loan.

Pay off higher-interest-rate debts first. After making the required minimum payments for each debt, allocate any extra dollars to the debt with the highest interest rate. Or:

Pay off the lowest debt amount first. According to financial expert Dave Ramsey, paying down the lowest balances first, regardless of interest rate, gives borrowers a sense of accomplishment. As each small debt is paid off, it becomes easier to stay motivated to pay down larger debts.

Consolidate loans. It may be possible to pay off multiple high-interest debts by getting a debt consolidation loan, which is often offered at a lower interest rate.

Finally, avoid tapping into a 401K, emergency fund or equity line of credit to pay down debt. Once debts are paid off, put away credit cards, and pay cash for what you need most. With patience, vigilance and a sound action plan, cash-strapped borrowers can learn to live debt-free.

Kim’s Forecast 2012

Did you know that it is a big myth that that houses do not sell during the winter months? Sellers who wait until spring to list their homes become another property on the market to choose from. Let’s highlight a few reasons why we encourage sellers to list their homes or keep them on the market through the Holidays and the winter months, and not wait until spring.

There are statistically fewer homes on the market than there will be in spring. This means that a home for sale now is one of a few rather than one of many. Having your home listed in the winter means there is less competition, so you will stand out and chances are, sell your home during this period rather than waiting three months into spring and maybe summer.

During the winter months many buyers that have not purchased in the previous months do not stop looking. The buyers are still out there and they are ready to buy.

Typically buyers that are out shopping for houses in the winter months are motivated. If you do not have your home on the market when these buyers are looking, you are losing a valuable opportunity and the potential to get your home sold.

If you are a homeowner who is thinking about selling in the spring, think again. Don’t miss this winter window of opportunity to get your home sold.

Last night Congress restored the loan limits for FHA for two years. In late September the FHA and Fannie/Freddie Loan Limits were reduced in 42 states pricing potential home buyers out of the American Dream of home ownership and holding back the housing recovery.

National Association of Realtors immediately went to work with the goal to get the loan limits restored in Congress. For weeks that goal seemed unlikely. REALTORS® along with NAR leadership and Government Affairs team in D.C. worked to educate Congress that well-qualified buyers didn’t need yet another hurdle to access affordable mortgage financing.

The reinstated FHA loan limit formula and cap change will help make mortgages more affordable and accessible for hard-working, middle-class families in 669 counties in 42 states and territories, where the average loan limit reduction after the reset last month was more than $68,000. The provision reinstates the FHA loan limits through 2013 at 125 percent of local area median home prices, up to a maximum of $729,750 in the highest cost markets. The floor will remain at $271,050. However, Congress chose not to apply the loan limits restoration to Fannie and Freddie. Fannie and Freddie backed mortgages will remain at 115 percent of local area median home prices up to $625,500.

The bill also provides for a short-term extension of the National Flood Insurance Program through December 16, 2011. NAR will continue to press Congress to use the additional time to complete their work on a five-year reauthorization of the program, which ensures access to affordable flood insurance for millions of home and business owners across the country.

Progress is being made on the behalf of all home owners. This is Golden news for home buyers and sellers!