Bobby's Eugene Real Estate Blog

I'm changing agencies to provide better service!

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Sun, 13 Sep 2009 02:42:44 -0700

I hope you and your loved ones have enjoyed a wonderful summer!

For me, these have been busy and exciting times. Over the past 16 months I have helped twenty five clients buy or sell their homes, protecting their interests during the process, and skillfully negotiating to ensure they received fair market value. My sales volume of over $5 million puts me in the top 7% of Eugene and Springfield area Realtors.

Providing the best possible service for my clients is very important to me. Because of this I have moved my business to Windermere Real Estate/Lane County. With the backing of this great locally owned company, and a wealth of support and resources at my disposal, I am now able to focus my efforts directly on the needs of my clients.

I hope you will consider me when you or your friends and family need expert assistance buying or selling real estate. It is my pleasure to serve you!

Cheers,
Bobby

May 2009 Real estate sales: Eugene, Springfield, Cottage Grove, Creswell and greater Lane County Oregon Market update.

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Wed, 17 Jun 2009 17:26:57 -0700

After posting record high levels of housing inventory in January, the estimated monthly supply of available homes in Lane County has dropped to 8.1 months in May. One year ago this month the number was 8.6

The average home sale price in May 2009 was $224,200 (down 15.5% from May 2008), and there were 247 closed sales compared to 274 closed sales in May 2008.

The biggest losers - sale prices down more than 14% from last year:

Properties in the rural areas of South Lane County including Cottage Grove and Creswell
West Lane County properties including Veneta and Elmira
Junction City

Bucking the trend:

West Eugene, which includes Whiteaker, West Jefferson, and Downtown neighborhoods is up 2% from last year.

Please email me and request "May Market Action" to receive the full report and follow the numbers for your area.

What does all this mean if you need to buy or sell in our current market?

Price continues to be the dominant factor in determining how quickly properties will sell, or if they will sell at all.
Sellers must ensure that the condition of their property is superior, that their price is competitive, and that their Realtor is a master at marketing and negotiation if they wish to sell in a reasonable time frame.
Buyers still have access to a vast number of housing options, and the opportunity to purchase at value prices, if they can obtain financing, and especially if they can pay cash.
Agents must work with a high level of dedication and focus to serve the interests of their clients, and to ensure the future of their careers through the current downturn and into economic recovery.

If you have questions about our market or the current data please call or email. And if you need to buy or sell in the Eugene/Springfield area and want top-notch representation, I'm here to help.

Eugene Laurel Hill Valley Real Estate: Cute remodeled 3 bed, 2 bath cottage with income potential

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Thu, 11 Jun 2009 01:13:40 -0700

The owner of this charming East Eugene home has made extensive updates to increase the comfort, value, and income potential.

Located in the desirable Laurel Hill Valley with access to Edison Elementary, Roosevelt Middle and South Eugene High School
Easy biking distance to the University of Oregon, and just a short bus ride to Lane Community College.
Private dead-end road ensures a peaceful setting and the one-fifth acre lot has ample room for gardening or potential future outbuildings.
Inside, the home has been extensively updated, with living room and kitchen on the main level, two bedrooms and full bathroom upstairs.
The lower level features a self-contained living space with separate entry, full kitchen and private bath. Current owner has kept the space rented at $500 per month.

More photos and information, including a virtual tour, can be found at 2765E18th.com, or on my website: bobbystevens.com. Please call me at 541 225-8081 if you have specific questions or to schedule a private showing.

I have deep experience in our community and a wealth of resources directed for my clients success in real estate. I’d love to talk with you and find out if we can work together to achieve your goals.

Cheers, Bobby

Buyers – tell me what you’re looking for and I’ll help you find it

Sellers – what does it take to get your home sold?

3709 Kevington: Solid 3 bed 2 bath home with many upgrades in great Southwest Eugene community

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Tue, 09 Jun 2009 02:06:36 -0700

The owner of this cute home within walking distance to Churchill High School has made a number of investments over the last two years to increase it's value to the next owner.

New roof
New Exterior Paint
New Concrete drive & patio
Improved Landscaping
New Carpet
New Plantation blinds.
Furnace maintenance

In addition, for a reasonable yearly fee of less that $600, residents of the community have access to a heated pool, clubhouse/party room, large private park and gated RV storage.

As a graduate of Churchill myself, I spent time in this neighborhood growing up, and I've been impressed with how well the community has been maintained since it was developed in the early 1970's. More photos and information, including a virtual tour, can be found at 3709Kevington.com, or on my website: bobbystevens.com.

Please call me at 541 225-8081 if you have specific questions or to schedule a private showing.

Cheers,
Bobby

Buyers – tell me what you’re looking for and I’ll help you find it

Sellers – what does it take to get your home sold?

State of Oregon requirements for Real Estate Agents

$8000 Tax Credit Used as Down Payment for FTHB

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Tue, 19 May 2009 17:18:54 -0700

Waiting with anticpation for this to come through. When it does become available, you'll hear it first from Fred!

Via Fred Chamberlin - Eugene/Springfield's #1 Experienced FHA Mortgage Consultant (Alpine Mortgage Planning - Eugene/Springfield OR):

The biggest problem that most first time home buyers have is coming up with the down payment. I have posted several times in the past various ways to get the down payment together, but it has still been out of the reach of some people. Now, that could change. The First Time Home Buyer Tax Credit is going to be available for the down payment on FHA loans in the near future, according the the Secretary of HUD.

Shaun Donovan, Secretary of the U.S. Department of Housing and Urban Development, said that the Federal Housing Administration is going to permit its lenders to allow homeowners to use the $8,000 tax credit as a down payment. According to Secretary Donovan, the FHA's approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. For the first time, eligible home buyers will be able to access the funds immediately at the closing table.

Needless to say, there are no procedures in place at this moment to take care of the “bridge” loan, but this should be done in a fairly short fashion since HUD wants this to be the new way of doing things. My suggestion is that those that qualify for the First Time Home Buyer Tax Credit on an FHA loan start looking for a home now. The procedures should be in effect by the time the purchase is ready to close…..at least I hope that is the case. This should be a boon to the Real Estate purchase market and start using up some of the excess inventory. That may also mean rising home prices in a short period of time.

Under contract in 7 days in Cottage Grove?

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Thu, 23 Apr 2009 12:14:32 -0700

When I worked up the market analysis for this classic craftsman, I found only one comparable sale in the previous 9 months!

The pace of sales in this charming, historic town about eighteen miles south of Eugene is positively glacial. I knew it would take a combination of optimal condition, aggressive pricing, and dynamic marketing to get it sold in a reasonable time frame so the owners could move forward with their life plans. Even with all these factors aligned, I anticpated a market time above my average of forty one days between listing and sale.

Condition
Fortunately, the home showed great pride of ownership. Improvements consisted largely of de-cluttering - minimizing small items on flat surfaces, taking down personal family photos, and moving infrequently used items into storage. The owners paid for their own home inspection in advance, and promptly made repairs to the few items that would be required as a condition of funding for prospective buyers.

Marketing
My philosophy on marketing my listings can be summed up in one word: overkill. Since more than 80% of buyers find their homes online, a heavy focus on popular national and local real estate websites is essential. Quality and quantity are both important. As with all my listings I used a professional photographer, virtual tour to capture buyer leads, extensive feature lists and descriptions of the home and community, and an additional slideshow of the home and surrounding amenities. Color flyers, directional signage, and frequent postings on craigslist are a part of the campaign to attract attention and communicate value.

Pricing
Getting this element right is far and away the most critical factor in getting a home sold in a reasonable time frame. Or getting it sold period. Often, sellers try to base their initial asking price on the idea that they need bargaining room. "I need to get X amount of money for my home, so let's price it five, ten, or twenty percent above that figure and negotiate downward if necessary." While that may seem logical, it's important to remember that you can't negotiate if you don't have an offer from a buyer, and if your home is priced above market value, you probably won't get one! In this case the sellers had good equity in the home and were able to price at market value.

Results
After seven days and three showings, we had an offer within five percent of list price. I helped the seller negotiate up to 97% of list price, inspections are complete and accepted, and we are proceeding to close. The sellers have been able to proceed with the purchase of their next home and are highly satisfied with my service, and I have a new perspective on selling homes in outlying areas!

If you are considering buying or selling a home, and want expert assistance in getting results like this, please get in touch for a no-obligation discussion of your options

Bobby Stevens, Broker 541 225-8081
Eugene’s Alternative - REALTORS®
1553 Oak Street, Eugene, OR 97401
office: 541 302-5999 | office fax: 541 349-9616

March 2009 Real estate sales: Eugene, Springfield, Cottage Grove, Creswell and greater Lane County Oregon Market update.

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Wed, 15 Apr 2009 18:36:46 -0700

We're still in a strong "buyers market", but home sales are up nearly 35% since February.

The current available inventory of 1,919 residential properties would last 9.7 months, down 52.9% from a record high of 20.6 months in January 2009.

Comparing March 2009 with March 2008, closed sales dropped 19.9% and pending sales fell 11.6%.

The average sale price is down by 13.2% since this time last year. The Median price fared better, down 5.9%.

Please email me and request "March Market Action" to receive the full report and accompanying charts.

What does all this mean if you need to buy or sell in our current market?

Price continues to be the dominant factor in determining how quickly properties will sell, or if they will sell at all.

Sellers must ensure that the condition of their property is superior, that their price is competitive, and that their Realtor is a master at marketing and negotiation if they wish to sell in a reasonable time frame.
Buyers still have access to a vast number of housing options, and the opportunity to purchase at value prices, if they can obtain financing, and especially if they can pay cash.
Agents must work with a high level of dedication and focus to serve the interests of their clients, and to ensure the future of their careers through the current downturn and into economic recovery. If you have questions about our market or the current data please call or email. And if you need to buy or sell in the Eugene/Springfield area and want top-notch representation, I'm here to help.

Bobby Stevens, Broker 541 225-8081
Eugene's Alternative - REALTORS®
1553 Oak Street, Eugene, OR 97401
office: 541 302-5999 | office fax: 541 349-9616

February 2009 sales data: Lane County Real Estate Market update.

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Fri, 13 Mar 2009 15:31:39 -0700

As anticipated, sales activity in the Greater Lane County area showed gains compared to January 2009, but continued to slide when compared to February 2008.

Comparing February 2009 with February 2008, closed sales dropped 31.8% and pending sales fell 16.4%.

Perhaps the best news is that our average local sale price is only down 3.2% since this time last year. This is remarkable considering the massive devaluation that has occured in other parts of the country. Click to view the full report and accompanying charts.

What does all this mean if you need to buy or sell in our current market?

Sellers must ensure that the condition of their property is superior, that their price is competitive, and that their Realtor is a master at marketing and negotiation if they wish to sell in a reasonable time frame.
Buyers still have access to a vast number of housing options, and the opportunity to purchase at value prices, if they can obtain financing, and especially if they can pay cash.
Agents must work with a high level of dedication and focus to serve the interests of their clients, and to ensure the future of their careers through the current downturn and into economic recovery.

If you have questions about our market or the current data please call or email. And if you need to buy or sell in the Eugene/Springfield area and want top-notch representation, I'm here to help.

Bobby Stevens, Broker
541 225-8081
Eugene's Alternative - REALTORS®
1553 Oak Street, Eugene, OR 97401
office: 541 302-5999 | office fax: 541 349-9616

Blogging via iPhone!

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Tue, 10 Mar 2009 13:29:41 -0700

I've used palm, and windows mobile pretty extensively, and I thought my next phone would be a blackberry - I wanted connectivity with Top Producer. After borrowing a first gen iPhone for the weekend I was hooked. I found that I could log in to my top producer account on safari, and while it may not move as quickly as the mobile version (only for palm, WM, and blackberry), I can access all my contacts and calendar. I was also able to export contacts from TP, import into gmail, and synch with iPhone. One of the main benefits of the iPhone OS is the ease of use - I find I'm actually using features that were avaliable in my previus smartphones, yet too cumbersome to be practical. I've been using my new phone for a week now and so far so good!

October 2008 by the numbers: Lane County Real Estate Market update.

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Mon, 17 Nov 2008 01:22:59 -0800

Inventory, listings, sales, and sale prices decline for the October 2008 reporting period.

Each month the RMLS (Regional Multiple Listing Service) publishes market statistics for it's service area. As a Eugene area Realtor I focus on the data for Lane County. Being intimately familiar with these numbers helps me to better serve my clients, both buyers and sellers, in a changing market.

For the month of October, total inventory stood at 9.2 months, down from 10.2 in September and up from 7.2 one year ago. This means at the current rate of sales, with no new listings entering the market, it would take over 9 months to sell all of the approximately 2,307 residential properties currently listed.

New property listings have decreased 18.5% and closed sales are down 17.2% compared to October 2007.

The average home sale price is down 5.3%, and the median sale price has dropped 4.5% when comparing the 12 month period ending October 2008 with the same period ending October 2007.

There were 251 homes sold in October 2008, and 2,626 sold since the first of this year, compared to 303 homes sold in October 2007, and 3,647 sold since the first of last year.

Once again, these numbers suggest that:

Sellers must ensure that the condition of their property is superior, that their price is competitive, and that their Realtor is a master at marketing and negotiation if they wish to sell in a reasonable time frame.
Buyers still have access to a vast number of housing options, and the opportunity to purchase at value prices, if they can obtain financing, and especially if they can pay cash.
Agents must work with a high level of dedication and focus to serve the interests of their clients, and to ensure the future of their careers through the current downturn and into economic recovery.

If you have questions about our market or the current data please call or email. And if you need to buy or sell in the Eugene/Springfield area and want top-notch representation, I'm here to help.

Bobby Stevens
541 225-8081
bobby@alternativerealtor.com

Going green and saving green go hand in hand this winter.

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Mon, 10 Nov 2008 11:42:16 -0800

To me, it's a thing of beauty when energy conserving "green" alternatives can end up conserving that other green - money!

I've been using two pellet stoves to heat my century old farmhouse for over four years now, and while it involves considerably more labor than adjusting a thermostat and writing a check to the power company, I do enjoy the money savings and the satisfaction of using a carbon-neutral heat source to keep my home comfortable.

Pellet stoves aren't the only way to conserve resources and cash. This series of articles from This Old House shows how eight homeowners slashed a combined $12,000 off their energy bills.

Stay warm!
Bobby

The Many Benefits of Outdoor Lighting

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Sat, 08 Nov 2008 23:39:26 -0800

In my former career as a licensed contractor, I ordered light fixtures for several clients online at csn lighting. I was pleased with the quality of the company's products as well as their customer service, so when they recently offered to author the following piece on the benefits of lighting, I was happy to partner with them and provide the information on my blog:

When it comes to putting your house on the market, there's no question that your interior space has got to look its best. But what about your exterior? A poorly landscaped or lit exterior really can make or break a potential sale, which makes sense, considering that first impressions are everything! In a housing marketing as volatile as today’s it's important that you maximize your home's value wherever you can. While the very prospect of landscaping might be overwhelming, the addition of some new outdoor lighting can change the entire look of your exterior. Here are a few ways you can use outdoor lighting to better showcase your home.

Curb Appeal: A person's first impression of your home needs to start at the curb. By adding a simple address light to your front parkway, you eliminate any confusion or circling the block looking for your address. If you have a mailbox on the street, you should install some lights to make sure that the address is adequately illuminated. Many address lights today are solar powered, which saves on energy costs and eliminates the need for a power source close to the street. If you don't want to get address lighting or a new mailbox, you should at the very least consider some reflective address numbers. You can attractively present your address on a big stone or even build your own address display. Having your address visible from the street is absolutely necessary.
Driveway Appeal: No matter if you have a long driveway or a short driveway, you need some sort of outdoor lighting around the entrance. This is both safe and aesthetically appealing. If you have a longer driveway, it's a good idea to install a lighting system along the entire length. You don't need the lights spaced too closely together, but they need to create a pathway for cars. For shorter driveways, it's a good idea to install 2 lights on either side of the entrance. Your driveway now becomes clearly visible from the street, limiting the risk of cars rolling up on the curb or into your garden. Driveway lighting is also a great way to showcase any landscaping you have done around your driveway. There are many affordable and easy to install lighting sets that you can do yourself, or you can have a lighting system installed professionally - it's your call! Either way, you can choose the fixtures that suit your home's style. Solar lighting options abound with these driveway lights as well, saving you additional money and energy.
Pathway Appeal: Path lights do the same for your front path that driveway lights do for your driveway. It's important that the path to your front door be clearly marked. By installing some basic electric or solar path lights, you instantly make the front of your home safer and more attractive. Path lights are a great way to showcase intricate brickwork, garden sculptures, topiaries or any other landscaping you have had done that deserves some showing off. Choosing a stainless steel or hammered pewter finish gives you more of a modern look, while a brass or bronze finish gives you more traditional appeal. Either way, you're sure to find path lights that complement your home decor.
Front Door Appeal: There's nothing less welcoming than the dim glow of a doorbell light when approaching someone’s front door. Make sure that your home has some sort of an outdoor wall lantern either above or beside the front door. Having your front stoop properly illuminated adds both warmth and charm to any front door. Save energy by installing a motion sensor wall lantern and only use the light when you need it. Available in every style from stained glass Tiffany-style to ultra modern stainless steel, you can easily match your front lamp to your decor.
Deck and Yard Appeal: As important as a well lit front yard is, you need to make sure that your back yard and deck are attractively lit as well. Considering how important a big backyard is these days, especially to families, it's essential that it’s shown in the best possible light. From subtle landscaping lighting highlighting the perimeter of your space, to coordinating path lighting that guides you to and from the back door, driveway or pool - backyard lighting is just as important as lighting the front. By adding some recessed step lights on your deck stairs, you instantly make your backyard area safer for everyone. Additionally, outdoor lighting helps deter crime and makes taking the pets out late at night, safer. Add some stylish outdoor torches and give your backyard or deck some atmosphere.

100% USDA Financing Available for Creswell Oregon

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Fri, 31 Oct 2008 11:31:06 -0700

Great program to help good buyers realize their dreams - despite lack of downpayment cash.

Via Fred Chamberlin - Eugene/Springfield's #1 Experienced FHA Mortgage Consultant:

One of the biggest things stopping people from participating in the American Dream today is the ability to come up with the down payment. While talk of a credit crunch keeps some buyers sidelined because of credit problems, many others with good credit are able to get the best deals in years including programs with no down payment!

The program leading the way in no down payment requirements (for non veterans) is the USDA Rural Development loan. This loan is available right now for Creswell and who better to show you homes in this community than Bobby Stevens with Eugene's Alternative - Realtors.

To qualify for the program (it is income limited), a family of four cannot have a total household income of more than $70,750 per year. That is a pretty liberal guideline.

If you are interested in property in this area and would like to see if the address falls within the USDA "footprint" click here.

So - THE TIME IS RIGHT! We have many properties on the market, we have MONEY TO LEND, and the Federal Government is giving First Time Homebuyers a $7500 tax credit if they purchase prior to next summer!

For more information on USDA loans, and to see if your household income qualifies for this NO PMI loan, please click here. If you want to get the mortgage qualification process started, either call me at 541-342-7576 or fill out an application on line here.

So much to feel good about these days!

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Wed, 29 Oct 2008 12:16:19 -0700

My hard work this summer has translated into a lot of business (and more hard work) this fall. It feels good to be managing 4 pending deals, working with great buyers and sellers, and having the satisfaction of succeeding in a challenging market.

I now it's not fashionable to wax positive in our current climate, but I have much to feel good about and I can't resist making a list of the things I'm thankful for:

My home, and the good old fashioned 30 year fixed note that allows me to keep it!
20 years of companionship with a wonderful woman.
My darling (above average;-), daughter - the second love of my life!
My dogs, cats, chickens and the various wild critters we enjoy in our area.
My extended family and friends.
The opportunity to work with wise and lovely people at a great real estate agency.
The incredible fall weather we've been experiencing in the Eugene area.
My success helping sellers with expired listings get back on the market and get their homes sold - I'm averaging 4.6 weeks from re-list to pending!
My success helping buyers find their ideal homes, get a great deal on them, and guiding them through all the challenges of the process.
My great fortune at working with buyers, sellers, lenders, inspectors, contractors, and cooperating agents who are genuinely nice, conscientious people.
The thrill of living in a time when it seems we are on the cusp of positive change - for our country and our planet.

Life is good!

Why should the seller pay for an inspection?

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Mon, 20 Oct 2008 10:50:01 -0700

I encourage every one of my sellers to get a whole house and pest and dryrot inspection up front, before I list their home in the MLS and launch the marketing campaign. Sometimes the reaction I get is "That's the buyers responsibility - why should I pay for an inspection?"

This is what I tell them:

For many buyers and sellers, the most stressful event in a real estate transaction is the review of the inspection report.

For the buyer (who begans to question whether they overpaid the moment after they sign acknowledgement), the report represents the potential for getting out of the deal with earnest money in hand. Other potential drawbacks about the property or neighborhood are re-visited, and competing properties began to look more attractive in comparison. Fear of choosing the wrong home is intensified - "What else might be wrong that the inspector couldn't see?" The buyer doesn't want to make a mistake, and if there is any doubt in their minds, the path of least resistance is in the opposite direction of your home.

For the seller, a surprise defect revealed in the report could mean losing a strong buyer, losing marketing momentum and incurring unexpected costs that change the dynamic of negotiations in favor of the buyer. Even when a defect can be corrected quickly and inexpensively, the percieved value of the home has become less, and a home that is back on market after a pending sale arouses suspicions in the minds of realtors, who don't want to be responsible for selling their buyers a lemon.

If a sale is going to fail, this is usually the time it bites the dust, often despite heroic measures on the part of sellers and realtors to remedy problems and keep all parties at the table.

3 out of 5 of my sellers will usually pay for a whole house and pest & dryrot inspection up front when I advise them of the benefits:

You get to choose a superior inspector and have some control over the inspection process - the buyer may even waive their own inspection after reviewing a well written report - especially if repairs are completed and documented.
You can share the report in advance and set buyer expectations before offer is written - If the buyer really wants the home, they will rationalize small defects and proceed with the offer. If they are on the fence, this good faith gesture may keep them interested and asking questions.
You get the chance to repair any defects before the property even hits the market, making the home a better value compared to the competition. Your agent can use the reports as a marketing tool!
In the event that a buyer proceeds with their own inspection and a questionable defect is reported, you already have a second opinion in hand, and your inspector will return and re-inspect to determine the validity of the new defect - usually at no charge to you.

A pre-listing inspection is one of the pro-active steps a seller can take to create an advantage for themselves. And in our current market, sellers who want to sell quickly and get the best price need all the help they can get!

Bobby Stevens
541 225-8081
bobby@alternativerealtor.com

September 2008 by the numbers: Lane County Real Estate Market update

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Fri, 17 Oct 2008 02:48:59 -0700

Inventory, listings, sales, and sale prices decline for the September 2008 reporting period.

Each month the RMLS (Regional Multiple Listing Service) publishes market statistics for it's service area. As a Eugene area Realtor I focus on the data for Lane County. Being intimately familiar with these numbers helps me to serve my clients, both buyers and sellers, in a changing market.

For the month of September, total inventory stands at 10.2 months, up from 8.1 in August and up from 8.0 one year ago. This means at the current rate of sales, with no new listings entering the market, it would take over 10 months to sell all of the approximately 2,460 currently listed properties.

New property listings have decreased 5.4% and closed sales are down 13.3% since September 2007. Average sale price is down 4.3%, median sale price down 4.2% when comparing the 12 month period ending September 2008 with the same period ending September 2007.

These numbers suggest that:

1. Sellers must ensure that the condition of their property is superior, that their price is competitive, and that their Realtor is a master at marketing and negotiation if they wish to sell in a reasonable time frame.

2. Buyers have access to a vast number of housing options, and the opportunity to purchase at value prices, if they can obtain financing, and especially if they can pay cash.

3. Agents must work with a high level of dedication and focus to serve the interests of their clients, and to ensure the future of their careers through the current downturn and into economic recovery.

If you need to buy or sell in the Eugene/Springfield area and want top-notch representation, I'm here to help.

Bobby Stevens
541 225-8081
bobby@alternativerealtor.com

A Primer on "As Is" Sales

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Fri, 17 Oct 2008 01:07:18 -0700

Great concise definition of a clause that can be thrown around rather loosely.

Via Ryan Shaughnessy:

What is an "as is" sale?

As real estate professionals, there are times when we are directed by the owner of the property to offer the property for sale on an "as is" basis. The intent of the owner may be to emphasize that the owner is not willing to make repairs. In other cases, it is the intent of the owner to limit both the right to inspect and the owner's responsibility for repairs. The overall purpose of "as is" language is to shift the economic risk of defects from owner/seller to the purchaser.

When is an "as is" sale appropriate?

An "as is" sale is appropriate under two primary circumanstances:

•  When an owner has limited knowledge of condition of the property (e.g. probate estates or foreclosures), the use of "as is" language is appropriate.

•  When a property is in a state of disrepair, the use of "as is" language is appropriate as long as the owner/seller has fully and accurately disclosed known defects.  "As is" language will not protect the owner and/or listing agent from the assertion of a fraud claim where "known defects" are not disclosed or the disclosures are incomplete, inaccurate or misleading.

Why you shouldn't just use the phrase "as is"?

Often, real estate professionals simply write into a form sales contract the phrase "as is." However, this phrase may or may not be enforceable and may be too vague to accomplish its intended purpose. Disputes often arise as to what is meant by the phrase "as is." For example, does the "as is" language only limit objections based on the condition of the property? Does it disclaim warranties associated with habitability or suitability of the property for a specific use (ie. occupancy as a residence)? Does it disclaim objections arising from fence or driveway encroachments? Unfortunately, when disputes arise, parties often assert that their intent was to disclaim all of these potential issues.

Who should draft the "as is" clause?

Instead of engaging in the unauthorized practice of law, we suggest our customers to have the provision reviewed and approved by their attorney. In the alternative, we have the provision reviewed by the real estate brokerage's attorney. Even in states that permit real estate professionals to go beyond the use of approved forms and to draft provisions, we still make the same recommendations.

What should be included in an "as is" clause? And, why?

Here is a sample provision for an "as is" clause used in our commercial sale contracts. Beware: It may not be suitable for residential sales and may cause the reader to have blurred eyes and headaches.

Provision - Disclaimer of Warranties:

Except as is otherwise expressly provided in this contract, seller hereby specifically disclaims any warranty (oral or written) concerning:

(1)      the nature and condition of the property and its suitability for any and     all activities and uses that buyer may elect to conduct on the property;

(2)      the manner, construction, condition and state of repair or lack of repair of the improvements;

(3)      the nature and extent of any right-of-way, lien, encumbrance, license,     reservation, condition, or otherwise;

(4)      the compliance of the property or its operation with any laws, rules, ordinances or regulations of any government or other body, it being    specifically understood that buyer shall have full opportunity, during the inspection period, to determine for itself the condition of the property; and

(5)      any other matter whatsoever except as expressly set forth in this contract.

Commentary: The purpose of this provision is to disclaim any warranty that may have been made in connection with the sale. If you simply use the term "as is", it may be argued that you are only limiting warranties associated with the physical condition or state of repair of the property and not conditions that impact the use of the property.

Provision - As Is Clause:

Except as is otherwise expressly provided in this contract, the sale of the property as provided for in this contract is made on a strictly "as is" "where is" basis as of the closing date. except as otherwise expressly provided in this contract,   Buyer expressly acknowledges that, in consideration of the agreements of seller in this contract, seller makes no warranty or representation, express or implied, or arising by operation of law, including, but in no way limited to, any warranty of quantity, quality, condition, habitability, merchantability, suitability or fitness for a particular purpose of the property, any improvements located on the property or any soil conditions related to the property. Buyer specifically acknowledges that buyer is not relying on (and seller hereby disclaims and renounces) any representations or warranties made by or on behalf of seller of any kind or nature whatsoever, except as is otherwise expressly provided in this contract.

Commentary: The purpose of the "as is" and "where is" language is to clearly signify that the property is being purchased by the buyer in its condition as of the date of closing. The second sentence is intended to disclaim any warranties and to signify that the purchaser is not relying on any representation made by the seller or the listing agent in such documents as the disclosure statement or the MLS listing. The third sentence is intended to clearly indicate that the buyer is not relying on any statements or representations made by the seller or the listing agent and is instead making the purchase based solely on his or her observations and inspections.

Provision - Environmental Conditions:

Except as otherwise expressly provided in this contract, buyer, for buyer and buyer's successors and assigns, hereby releases seller from and waives any and all claims and liabilities against seller for, related to, or in connection with, any environmental condition at the property (or the presence of any matter or substance relating to the environmental condition of the property), including, but not limited to, claims and/or liabilities relating to (in any manner whatsoever) any hazardous, toxic or dangerous materials or substances located in, at, about or under the property, or for any and allclaims or causes of action (actual or threatened) based upon, in connection with or arising out of the Comprehensive Environmental Response, Compensation, and Liability Act, 42 U.S.C. §9601 et seq.; the Resource Conservation and Recovery Act, 42 U.S.C. §6901 et seq.; and the Superfund Amendments and Reauthorization Act, 42 U.S.C. §9601 et seq. or any other claim or cause of action (including any federal or state based statutory, regulatory or common law cause of action) related to environmental matters or liability with respect to or affecting the property. buyer represents to seller that buyer has conducted, or will conduct before closing, such investigations of the property, including but not limited to, the physical and environmental conditions thereof, as buyer deems necessary to satisfy itself as to the condition of the property and the existence or nonexistence or curative action to be taken with respect to any hazardous or toxic substances on or discharged from the property and will rely solely on same and not on any information provided by or on behalf of seller or its agents or employees with respect thereto, other than such representations, warranties, and covenants of seller as are expressly set forth in this contract. upon closing, except as otherwise expressly provided herein, buyer shall assume the risk that adverse matters, including, but not limited to, construction defects and adverse physical and environmental conditions, may not have been revealed by buyer's investigations, and buyer, on closing, shall be deemed to have waived, relinquished, and released seller from and against anyand all claims, demands, causes of action (including causes of action in tort), losses, damages, liabilities, costs, and expenses (including attorneys' fees and court costs) of any and every kind or character, known or unknown, that buyer might have asserted or alleged against seller, at any time by reason of or arising out of any latent or patent construction defects or physical conditions, violations of any applicable laws (including, without limitation, any environmental laws) and any and all other acts, omissions, events, circumstances, or matters regarding the property. except as otherwise expressly provided in this contract, buyer agrees that should any cleanup, remediation, or removal of hazardous substances or other environmental conditions on the property be required after the date of closing, such cleanup, removal, or remediation shall be the responsibility of and shall be performed at the sole cost and expense of buyer.

Commentary: Admittedly, this provision is overkill for a residential transaction. However, environmental conditions associated with lead paint, asbestos, well water contamination, mold, radon, overhead power lines, airport noise, and methaphedamine production should be addressed and disclaimed.

Provision - Benefit of the Bargain Provision:

Buyer acknowledges and agrees that the provisions contained in this section __ were a material factor in seller's acceptance of the purchase price and that seller was unwilling to sell the property to buyer unless seller was released as expressly set forth above. buyer, with buyer's counsel, has fully reviewed the disclaimers and waivers set forth in this contract and understands their significance and effect.   Buyer acknowledges and agrees that the disclaimers and other agreements set forth in this contract are an integral part of this contract, and that seller would not have agreed to sell the property to buyer for the purchase price without the disclaimers and other agreements set forth in this contract. the terms and conditions of this section __ will expressly survive the closing and will not merge with the provisions of any closing documents.

Commentary: This provision is to establish that the condition of the property and the risk of possible problems associated with the condition of the property have been negotiated and the condition and risk factored into the sales price for the property. It also is used to establish that the buyer has either had the provision reviewed by their legal counsel or has waived the right to seek legal counsel. The purpose is to establish that the execution of sales contract with the provisions was made voluntarily, knowingly and in an informed manner.

The simple fact is that when you recommend to the seller or when the seller requests that the sale be made on an "as is" basis you should either use an approved form contract that has been specifically drafted for "as is" sales or should seek or recommend the owner to seek legal counsel to draft a provision that addresses the specific issues associated with the property and the sale.

Note: The opinions and statements contained herein represent my personal opinions and observations. These blog entries are not reviewed, endorsed or approved for publication by Gilded Age Sales, LLC.

Disclaimer: The author is a licensed attorney. However, the opinions and statements contained herein are for informational and discussion purposes only and shall not constitute the provision of legal advice. Nothing contained herein shall establish an attorney-client relationship. Readers are cautioned to seek legal counsel in their state before using or relying upon any of the information contained herein.

Wildlife in Eugene Oregon's Laurel Hill Valley

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Fri, 10 Oct 2008 12:15:33 -0700

The Laurel Hill Valley is a unique little enclave in East Eugene. The main route in, Riverview Street, is poorly maintained, and without sidewalks, which adds a rural flavor, and there is an intersting mix of old and new development in this peaceful neighborhood.

I was dropping off flyers at one of my condo listings early yesterday morning and got a chance to shoot some wild turkeys (digitally of course).

We see quite a few of these in the south hills and outlying areas around Eugene and Springfield, usually traveling in what appears to be a family group.

The lighting in this shaded glen was not the best, but I stopped the car, turned on the flashers and grabbed my camera.

The big birds were polite enough to wait until I snapped my zoom lens on and I was able to a get a couple of decent shots off before the walked sedately across the road and climbed the bank into the forest.

More information on this neighborhood:

Laurel Hill Valley neighborhood association website

Hendricks Hill Homeowners association

Eugene/Springfield's top blogging loan officer!

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Tue, 07 Oct 2008 12:09:06 -0700

I hope I'm the first to congratulate Fred Chamberlin on reaching 60,000 points on Active Rain in just a few months!

Fred is an encyclopedia of information in the world of Real Estate finance, with a high expertise in government loan programs of all kinds, and his blog should be required reading for anyone seeking funding advice in this uncertain age.

There are many options and programs available, despite the current crisis, and I would not be aware of a number of them if it weren't for Fred's prolific and tireless efforts at the keyboard. Fred also shoots great pictures to document his adventures, and takes great care of his two canine companions.

Thanks Fred, for being a great AR contributor, an inspiration, and a friend!

Here's how to get in touch with Fred:

Fred Chamberlin
Alpine Mortgage Planning
FChamberlin@alpinemc.com
Office Phone:(541) 342-7576
1200 Executive Pkwy Suite 100,
Eugene, OR, 97478

Don't over-remodel! (unless you feel like it).

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Mon, 06 Oct 2008 00:54:45 -0700

According to a survey by Remodeling magazine, homeowners can expect less of a return on upgrades than in the recent past.

In the bubble years of '05 & '06, nearly half the projects undertaken could be expected to return up to 90 cents on the dollar, but in the past two years, nothing has even come close, based on the magazines' survey of thousands of real estate professionals. Consumer Reports magazine has gone a step further and surveyed licensed appraisers, but regional differences in home values make it difficult to gauge what portion of your remodeling dollar you get back at closing time.

Projects that pay:

Deck additions still top the list at 85.4% of value recovered, based on a national average.

Minor kitchen remodels can return 83% of the investment if you focus on cosmetics like cabinet door replacements, flooring, paint, and energy efficient appliances.

A bathroom remodel could return 78%, while a bath addition is only good for 66%.

Replacing windows with wood double hung units will return up to 81%, and vinyl comes in a close second at 79%.

Projects that don't pay as well:

Home office remodel- 57%, Backup power generator - 58%, Sunroom addition - 59%.

What's a homeowner to do?

First, think of upgrades as helping to maintain the value of your home - not necessarily increase it. Unless you're filming an episode of That 70's Show, green shag carpet and harvest gold appliances aren't going to get buyers lining up with earnest money checks.

Second, take care of the less glamorous maintenance items like the roof, plumbing, and crawl space moisture control. In my experience, defects in these areas can create a cascade of problems that are both costly to repair and send prospective buyers running for the next house when they pop up in an inspection.

Finally, if you plan on staying awhile (5 or more years), forget about what buyers may want, and invest in what makes you happy. We're back in a cycle where owning a home is more about what you get out of it on a daily basis, than what your appreciation will look like next spring. Business and economic cycles are beyond individual control, but owning a comfortable and efficient home can buy more peace of mind than money in the bank!

Bobby Stevens, Eugene's Alternative Realtors
541 225-8081
bobby@alternativerealtor.com

Foreclosure, Bankruptcy, Deed-in-Lieu of Foreclosure, Short Sale, what is worst?

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Fri, 03 Oct 2008 19:56:08 -0700

I call the expired listings every morning and talk to my share of desperate sellers, many facing foreclosure. With this information from Fred, I'll be much better prepared to help them make decisions on issues that can have a long term impact on their lives.

Via Fred Chamberlin - Eugene/Springfield's #1 Experienced FHA Mortgage Consultant:

So, the question is: "What is going to hurt my credit more, a short sale or a foreclosure or a deed-in-lieu of foreclosure?"

Here are the most recent guidelines from Fannie Mae:

Bankruptcy (except Chapter 13)

4-year time period applied from either the discharge or dismissal date

Chapter 13 Bankruptcy

2-year time period from the discharge date, or

4-year time period applied from the dismissal date

Extenuating Circumstances

2 year time period from the discharge or dismissal date

Multiple Bankruptcy Filings

5-year time period from the most recent dismissal or discharge date

Multiple BK Extenuating Circumstances

3-year time period from the most recent discharge or dismissal date

Foreclosure

5-year time period from completion date

Additional requirements years 5-7 requirements:

Purchase allowed for primary residence only, max 90% CLTV, minimum 680 credit score

Cash out refinance not allowed for any occupancy

Foreclosure Extenuating Circumstances

3-year time period from completion date

Additional requirements years 3-7 requirements:

same as listed above with the exception of the credit score requirement

Deed-in-Lieu of Foreclosure

4-year time period from completion date

Additional requirements years 4-7:

Maximum 90% CLTV for any occupancy

Deed-in-Lieu Extenuating Circumstances

2-year time period from completion date

The same additional requirements apply as above for years 2-7

Short Sale

2-year time period from completion date

It is pretty obvious from this that the foreclosure is on your credit for a much longer period of time and therefore the more serious of the options availalbe. Foreclosures also have credit requirements and loan to value requirements. Deed-in-lieu is a bit easier, but not much. Worthy of note is that a Bankruptcy is only blocking a consumer for 2 years from getting a loan with FHA, but a foreclosure is still a 4 year block.

It is pretty obvious that a foreclosure is something to be avoided at all costs.

little house, BIG lot, competitive price!

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Fri, 03 Oct 2008 19:36:52 -0700

Sustainability in the city!

1/5th acre fenced yard - perfect for a monster garden or backyard oasis. Sturdy 1950 cottage, well suited for efficient living or adaptable to expansion. Coved ceiling, oak floor, tile bath. New paint at kitchen & exterior. Insulated vinyl windows. Convenient location within walking and biking distance of shopping and recreation

Virtual tour: http://www.1855Hayes.com

More photos: http://www.bobbystevens.com

Creswell Oregon, A Eugene bedroom community.

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Fri, 03 Oct 2008 19:24:26 -0700

Four years ago my wife and I bought a turn of the century foursquare farmhouse and realized our dream of moving to the country. The idyllic fantasy has now been tempered by the reality of improving and maintaining a big old house and extra property, but that is the subject for another post!

Creswell lacks the charm of other small towns along highway 99, thanks to a relocation of main street and subsequent destruction of the original downtown. But you can get a glimpse of the past in the quaint gothic church that is now home to Creswell's history museum.

In a town of 5,000 souls, with probably fewer than 300 jobs, most people drive to Eugene for entertainment and dining. But when you don't feel like jumping on the freeway, there are a few good options in town.

For the classic "mexican-entree-swimming-in-a-plate-of-beans-rice-and-cheese" You can't beat Los Cabos. Located on Oregon Avenue, Creswell's main street, the friendly staff serves up hot plates and a mean Cadillac Margarita.

There was much rejoicing, especially from the younger set, when we got "Old Time Scoops" our own ice cream and candy emporium two summers ago. Since then the going has been tough and ownership has changed a couple of times. We must not have enough regular ice cream eaters to comfortably support this business, but I hope they manage to stick it out, because there's nothing nicer than stopping by for a cold treat after an afternoon at the park...

Harry and Bertha Holt are pioneers of the international adoption movement, making it possible for thousands of orphaned children to find loving homes. Harry Holt park, in the heart of Creswell, is a great summer gathering spot, and a wonderful place to play with your kids year 'round.

Get your home ready for winter before it's too late!

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Fri, 26 Sep 2008 02:46:30 -0700

When it comes to home maintenance it's always "better late than never", but who wants to work outside when it's too cold to move your fingers!

Here are my top 5 things to take care of before cold and damp becomes the default condition:

Clean your roof, muck out the gutters, clear the downspouts, and seal corner joints if necessary. I see a lot of roof and fascia (wooden trim) damage caused by rain gutters that are unable to do thier job because they are packed with leaves, and in some cases hosting a crop of grass! If you don't like heights, hire a handyperson.
Clean the deck, and seal the surface. This is another area where a little neglect can cause a lot of damage, and a dirty deck is slippery when wet, so don't risk damaging yourself!
Touch up missing paint or finishes on your home - even if you plan to paint next summer. Exposed wood eventually loses the ability to hold paint, and when moisture gets under the edges of remaining paint the trouble spreads. Always make sure the first coat on bare wood is primer. Putting topcoat on unprimed surfaces is asking for early paint failure.
Check your heating system and change the filter. Ok, so this doesn't really qualify as an outdoor task, but again, better to do it now than when the mercury dips into the 20's.
Take a freakin' break already! Life is short, and you'll never hear anyone on their deathbed lament that they didn't spend more time on a ladder. Have hot toddy or two. Go outside and play catch with the kids. Give your S.O. a backrub. Just chillax - the work will always be there for you. And give me a call if you need a referral to a local pro for help with any of your home maintenance and improvement projects.

Best of the season,
Bobby

541 225-8081
bobby@alternativerealtor.com

2122 Todd: 3 bed, 3.5 bath contemporary home in Southwest Eugene.

Bobby Stevens ~ Eugene, Oregon Realtor (Windermere Real Estate/Lane County) — Fri, 26 Sep 2008 01:57:00 -0700

Open house this weekend: Saturday and Sunday 9/27-28 1 - 3pm.

Virtual tour: 2122Todd.com

More photos: bobbystevens.com

If you'd like more information, or to schedule a showing, please call me at 541 225-8081, or email bobby@alternativerealtor.com

I’m familiar with many of the similar available homes in town, so even if this is not the house for you I would love to assist in your home search – just call or email to put me to work for you!

Bankruptcy (except Chapter 13)	4-year time period applied from either the discharge or dismissal date

Chapter 13 Bankruptcy	2-year time period from the discharge date, or
4-year time period applied from the dismissal date
Extenuating Circumstances	2 year time period from the discharge or dismissal date

Multiple Bankruptcy Filings	5-year time period from the most recent dismissal or discharge date

Multiple BK Extenuating Circumstances	3-year time period from the most recent discharge or dismissal date

Foreclosure	5-year time period from completion date
Additional requirements years 5-7 requirements:
Purchase allowed for primary residence only, max 90% CLTV, minimum 680 credit score

Cash out refinance not allowed for any occupancy
Foreclosure Extenuating Circumstances	3-year time period from completion date
Additional requirements years 3-7 requirements:
same as listed above with the exception of the credit score requirement

Deed-in-Lieu of Foreclosure	4-year time period from completion date
Additional requirements years 4-7:
Maximum 90% CLTV for any occupancy
Deed-in-Lieu Extenuating Circumstances	2-year time period from completion date
The same additional requirements apply as above for years 2-7

Short Sale		2-year time period from completion date