Wednesday, October 22, 2008

Home Buyers - Forget Wall Street and Main Street, How About Opportunity Street?

This week has made me feel a bit like this hamster. Running, running, running…but still in basically the same place. Trying to re-boot this mentality, I thought I’d do some market research for this gorgeous area I live and work in, Southern Oregon.

Just out of curiosity, I thought I would go explore how many homes are on the market in the Rogue Valley that might suit the entry-level buyer. Imagine my surprise when I had to cut the criteria back over and over again after finding 700+ homes for sale under $200,000! Narrowing in to categories, I found:

75 homes on the market priced from $ 90,000-135,000
73 homes on the market priced from $135,000-155,000
118 homes on the market priced from $155.000-170,000
302 homes on the market priced from $170,000-200,000

When was the last time Southern Oregon buyers have had the opportunity to find homes - this many homes! - available in these price ranges? My criteria stipulated 2+ bedrooms and residential, so this includes houses, townhomes/condominiums, and manufactured homes on land. It also includes a home for $154,900 in Ashland Oregon! And 8 homes built in 2003 or later in Medford Oregon priced from $170,000-200,000!

I saw so many potential buyers miss the boat in Southern California after the market picked up again after the Northridge Earthquake in 1994 and again after the 2001-2002 market slow down. I sure hope home buyers looking to purchase in our many fine Southern Oregon Cities – Ashland, Talent, Phoenix, Jacksonville, Medford, Central Point, White City, Eagle Point, Shady Cove, Gold Hill, Rogue River, Grants Pass, Merlin, Cave Junction, and Applegate/Ruch – don’t miss the boat this time around, while sidelined by the often times inaccurate portrayals they are reading/hearing/seeing in the news!

Tools are available, like Oregon Bond Loan and USDA Guaranteed Rural Housing Loan. Financing IS available.

See you at the closing table!

Karen Cooper – OR/CA Mortgage Consultant –

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