Dave Koester's Blog

Rising Home Prices

Eugene's Alternative - Real Estate — Tue, 25 Aug 2009 17:26:10 -0700

Home prices rose 2.9 percent in the second quarter from the previous quarter. This is the first such gain in three years and an additional sign that the housing market is slowly stabilizing. The recent results of the S&P/Case Shiller index, which measures repeat home sales, are showing the same positive trends reflected in other housing market indicators. Home sales, construction activity and builder confidence have all risen in recent months. Overall, prices fell 14.9 percent in the second quarter compared with the same time period a year ago. This quarter, average home prices are near historic 2003 levels.

The S&P/Case Shiller system measures national home prices in various time ranges in all nine U.S. Census divisions. The report includes a 20-city index and a 10-city index. Offered on a monthly basis, from May to June, prices were up 1.4 percent in both indices. Putting pressure on prices nationally is the abundance of homes flooding the market and the number of foreclosures and other distressed properties, which are dragging down home prices. These are positive signs and a good reason to buy a home Eugene if your are in the market for one.

Non-ActiveRain Real Estate Blog

Eugene's Alternative - Real Estate — Thu, 01 May 2008 15:16:54 -0700

We are happy to announce the successful launch of our own new real estate blog. This is in addition to a recently added chat feature which allows customers to contact us for "Live Help" during business hours. We are using our new blog to provide consumers with more information and help them make the right choices concerning the real estate market in Eugene Oregon and our surrounding community. Just to be clear, we in no way are unhappy with our ActiveRain blogging opportunity. We will continue to seek out and use all tools which mesh with our business model.

What is an FSBO?

Eugene's Alternative - Real Estate — Thu, 10 Apr 2008 13:05:43 -0700

"FSBO" is an acronym for: For Sale By Owner. In the real estate world you might hear them referred to phonetically as a "Fizbo". For Sale by Owner properties are easily found in craigslist.com under Oregon, Eugene, Real estate for Sale. Eugene's Alternative represents many buyers in FSBO's transactions every year.

Many sellers will attempt to sell their properties themselves prior to seeking professional representation. Most are open to compensating a buyer's agents if a buyer is professionally represented. (This means that there is often no cost to a buyer to seek professional representation)

Our clients are counseled to have Eugene's Alternative make the first contact with the seller to build the relationship, assess the story of the property and schedule a viewing time. Eugene's Alternative then reports back to our clients with the information and timing. Having Eugene's Alternative make the 1st contact is important because we have a high level of success negotiating buyer's agent compensation paid by the seller when Eugene's Alternative makes the 1st contact.

The sale fall-through rate without a professional representative is very high. Some of the qualities that professional representation brings to a transaction are:

Safety - All agreements are reviewed by a licensed Broker who has experience and understands the requirements of a legal real estate transaction in the state of Oregon.

Professional Perspective - There is nothing more dangerous to a transaction than two confused and emotional parties trying to work through a difficult negotiation alone. When trust between the buyer and seller is compromised the transaction's environment can become toxic. Having a smooth handed professional in the middle, listening, reacting to, or leading parties through a tough spot can make all the difference to the success of a sale. A good Realtor can take the pressure off of the individuals and bring smooth & quick resolution to issues that can otherwise progress to a danger.

Quality Team Members - Eugene's Alternative brings years of experience with quality people in the real estate community. We have developed relationships with outstanding folks in these fields and more:

Mortgage Finance
Pest and Dry Rot Inspection
Law
Surveying
Licensed Contractors of all kinds (Building, remodeling & repair)
ArchitectureTitle and Escrow
Home Inspection
Landscaping
Staging

Experience - There is no substitute for experience. Understanding the landscape of a negotiation and transaction can prevent or cut-short problems before they become a threat.

David Koester
Pricipal Broker / Owner
Eugene's Alternative
302-5999
dave@alternativerealtor.com

Commercial Real Estate Services in Eugene Oregon

Eugene's Alternative - Real Estate — Tue, 18 Mar 2008 23:53:46 -0700

We field many requests for commercial real estate. The newly formed Eugene Commercial provides a starting place to meet your commercial real estate needs. They do more than just typical leasing and sales. Their staff offers a myriad of technical and practical experience in all aspects of commercial real estate analysis and research for the Eugene area. They specialize in Market Value Analysis, Highest and Best Use Analysis, Land Planning, Location Analysis, Site Selection, and Asset Management.

The members of Eugene Commercial achieve to understand your business requirements and personal taste, and translate them into the ideal business space. They believe in a long term view of business success. Although Eugene Commercials official responsibility is complete when your lease is signed or the sale is final, it is their practice to continue serving you. I believe that's just one of the features that sets EC apart from the competition.

Amount of ActiveRain Traffic Flowing to Agency Website

Eugene's Alternative - Real Estate — Thu, 24 Jan 2008 12:42:11 -0800

We have not seen a large amount of traffic (20-30 visitors per Mo.) coming from ActiveRain via our analytics program. This does not mean the traffic is not beneficial. In fact visitors are inherently different depending on their point of origin. It turns out that those visitors who do come to our website via ActiveRain spend 4 times longer on our website. Albeit, many of those who come are in the Eugene real estate industry. This too is good.

New to the Eugene Oregon Real Estate Market

Eugene's Alternative - Real Estate — Tue, 20 Nov 2007 09:18:53 -0800

This home is an excellent deal. A stunning contemporary home with deluxe features:"Soft" soaking tub & automatic skylight in master bath, two on-demand H2O heaters, maple hardwood floors w/radiant floor heat, clerestory windows, Fisher/Paykel dish-drawer dishwasher, Jenn-air range in island, surround sound in and out, 4 decks w/views, Corian in kitchen & bath, finished and insulated garage, alarm system, Hardi-plank siding.

Watch our real estate video of this home for sale.

East Eugene home near the University of Oregon

Eugene's Alternative - Real Estate — Tue, 14 Aug 2007 17:04:26 -0700

Talk about Options! Enjoy a well valued 4 bed 2 bath single family home or separate the top and bottom into 2 separate spaces! Family size or suited to share the space with relative seclusion. What a deal for 2,500+ square feet so close to the U of O!

This listing courtesy of Eugene's Alternative Realtors in Eugene Oregon.

Real Estate Mapping Software

Eugene's Alternative - Real Estate — Mon, 18 Jun 2007 20:41:42 -0700

What is the best mapping software for small real estate firms?

We are currently using IDX via the IDXbroker service and have tried others. Extra credit for mapping systems which are easy to integrate with a Realtor's current website. Also consider price as a factor for smaller offices. Set-up time is also a consideration. Please comment on the aesthetic qualities of your favorite mapping program too.

The Pacific Northwest is One of the Best Housing Markets

Eugene's Alternative - Real Estate — Mon, 18 Jun 2007 18:11:47 -0700

A recent article in Forbes magazine covers some of the best and worst housing markets in the U.S. Eugene falls into the best category. To summarize, the author explains that Median home prices in the Pacific NW as a group soared; in Portland, Oregon, prices jumped 8.9% and the Eugene / Springfield area increased 5.9% during the same time period. We are now witnessing is growth in regions which still have a strong economy, but didn't see the overblown prices that were seen in many other areas".

Our current median home price is $236,800 as of June, 2007. High inventory numbers have been the one thing that has slowed the growth rate to an above average 5.9 percent. This is a very reasonable gain when looking at the entire United Sates as a whole.

Dangers of Overpricing

Eugene's Alternative - Real Estate — Mon, 14 May 2007 13:24:28 -0700

Below are the most common issues concerned with overpricing real estate

* Most of the activity on your home will occur in the first few weeks. Pricing a home properly and then creating immediate urgency in the minds of agents and buyers is critical. Buyers who have seen most available homes in their price range are waiting for the "right house" to come on the market. That's why a house that is priced right, will sell quickly. The buyers are there waiting for it.

* Don't start with a high price and the assumption that you can reduce it later. By the time you decide to lower the price, it may be too late, as interest will have already waned.

* A major cause for concern is appraisal problems; overpricing can lead to loan rejections and lost time.

* Even if your home is nicer than other homes in the same area, your house won't be picked for viewing if you set the price too high. Buyers and agents become aware of the long exposure period and often are hesitant to make an offer because they fear something is wrong with the property.

* Attracting the wrong buyers.

* Fewer potentially qualified buyers will respond.

* You might help sell similar homes that are priced low.

* You could lose money as a result of making extra mortgage payments while incurring taxes, insurance and unplanned maintenance costs.

Determining the Value of Your Home

Eugene's Alternative - Real Estate — Mon, 14 May 2007 13:21:15 -0700

Pricing your home is both an art and a science. Achieving the optimal price is the result of objective research into comparable properties and a feeling about your property and the current market. Below are some tips about setting your list price.

You should obtain or we can provide a comparative market analysis (CMA), a comparison of the prices of recently sold homes that are similar in terms of location, style, and amenities. A CMA is performed by comparing previously sold homes in the area, and currently active homes to know your competition.

Find your home's value

Our pricing philosophy is...

* There is no "exact price" for real estate

* We don't tell you what we think your home is "worth"

* The market determines value... together we determine the price

* You determine the price based on the factors you control: o Marketing time o Financing alternatives provided o Condition o Exposure method

* Attract buyers

* Allow you to earn the most money possible

* Help you sell as quickly as possible

The simple fact is, price is the number one factor that most homebuyers use to determine which homes they want to view. It's important to remember that, although the price is set by you, the value of the home is determined by the buyer. Overpricing is a common mistake that can cost you in the end.

The Importance of Proper Pricing is...

* Faster sale and less inconvenience

* Exposure to more buyers

* Increased Realtor response

* More advertising/sign calls

* Attracts higher offers * Means more money to seller

* Avoids being "shopworn" What really matters is how your home compares to others currently offered for sale and recently sold in your neighborhood. Buyers will be comparing.

Common Reasons for Overpricing

* Over-improvement

* Need

* Purchasing in higher priced area

* Original purchase price too high

* Lack factual data

* Bargaining room

* Move isn't necessary

* Assessed value

* Emotional attachment

* Opinion neighborhood

Our next post will discuss the Dangers of Overpricing

Real Estate Time of Year

Eugene's Alternative - Real Estate — Mon, 14 May 2007 12:19:22 -0700

The market is starting to heat-up as it does every Spring. There is an increased inventory of homes for sale in our local market. There has only been a small increase in median home prices over the last two months (since Feb. 2007). The quantity of homes is a treat for buyers, concerning price and selection. At this time, we recommend that sellers consider all offers seriously. This is a buyers market.

This chart shows the Median Home Price Changes for Eugene, Oregon.

Visit us for more Real Estate information.

Real Estate and the Internet

Eugene's Alternative - Real Estate — Fri, 04 May 2007 01:06:58 -0700

Statistics from the National Association of Realtors shows that over 80 percent of real estate buyers view property listings on the Internet before they move forward. These percentages continue to grow every year. Video tours have shown to be twice as effective as photos.

We are included in the minority of agents and brokers who find our presence on the Internet is a necessity. The stats actually show that only 45% of Realtors employ the web for their businesses.

We have been using and continue to harness the power of the web for our clients. Visit our real estate site for more more information.