Eugene Oregon Real Estate and Community News

March 21, 2018

Rent or Buy? Some Ideas.

It’s a classic question asked by nearly everyone at some point in life: Should I rent or should I buy? Many fiscal experts spar over this very question, with equally good arguments. Some say renting allows more cash for long-term portfolio investing, while some say owning makes a stable long-term investment with valuable income tax deductions. What’s right for you likely depends on a variety of factors, including your amount of cash savings and debt, your income, and the availability of homes and rentals on the market.

Review what’s on the market for housing. It's no secret that Oregon’s population is exploding, bringing high demand for housing statewide. In fact, estimates released from Portland State University’s Population Research Center show that Lane County added 4,660 residents from July 2016 to July 2017. As you search for housing, decide how much proximity to a locale is worth to you, how far you’re willing to commute, and what the average cost of housing is in different cities and suburbs. Make a radius and narrow your options from there.

Determine your home buying affordability. A basic rule of thumb is that your home should cost no more than 2.5 times your annual salary. Beyond this guideline, owning a home also can include homeowners insurance, property taxes, Private Mortgage Insurance, home improvement costs, and homeowner’s association fees. If you add up these expenses and they equal more than it would cost you to rent, determine whether you can afford to live on the dollars remaining. Ask yourself what you could do with that cash difference if you rent instead of buy. Making this determination might be a game changer.

If you find a home you’d like to purchase, consider the costs and benefits of homeownership. First, you will own the asset, and over time, you’ll build some serious equity. Second, if you itemize your taxes, you’ll be able to deduct mortgage interest and property taxes from your obligations. You’ll also be able to remodel as you wish, without answering to a landlord. On the downside, home repairs and improvements will be your sole responsibility, and repairs don’t operate on schedules. That said, you might just find yourself paying thousands for fixes you never anticipated.

If you’re thinking it may be better to rent, remember that renting comes has its own specific advantages. With a new rental, you’re typically only required to come up with the first month’s rent plus a security deposit, which can be many thousands less than coming up with a home down payment. Your overall cost per month might be less too, and you won’t be responsible for repairs or maintenance tasks, unless it’s in your rental contract. Leases are often year to year, so if you experience a job change or you don’t like your neighborhood, you can simply move somewhere else when the lease is up.

To make a few comparisons as you look for housing, try one of the following calculators:

Posted in Buyer FAQ
March 21, 2018

Open House for New Eugene Listing!

First Open House for this New Eugene Listing is this Weekend! Saturday (3/24) & Sunday (3/25) from 12-3pm

Can't wait? Click here or Call Jenniffer today for more details at (541) 543-3271

Posted in Listings, Open Houses
March 21, 2018

1st Open House for New Springfield Listing!

Your First Chance to see this New Springfield Listing is This Weekend! Open House: Saturday (3/24) & Sunday (3/25) from 1-4pm

Can't wait? Click here or Call Ashley today at (541) 214-1855 

Posted in Listings, Open Houses
March 21, 2018

Price Reduction on Your New Home!

Price Just Reduced on this Charming Eugene Home! Click here / text the code for more details or Call Katie today! (503) 799-0714

You don't want to miss this! 

Posted in Listings
March 19, 2018

Springfield Real Estate Market Trends (3/19/2018)

To Access Full Market Trend Report for Zip Code 97477 click HERE.

To Access Full Market Trend Report for Zip Code 97478 click HERE.

Posted in Market Trends
March 19, 2018

Eugene Real Estate Market Trends (3/19/2018)

To Access Full Market Trend Report for Zip Code 97401 click HERE.

To Access Full Market Trend Report for Zip Code 97402 click HERE.

To Access Full Market Trend Report for Zip Code 97403 click HERE.

To Access Full Market Trend Report for Zip Code 97404 click HERE.

To Access Full Market Trend Report for Zip Code 97405 click HERE.

To Access Full Market Trend Report for Zip Code 97408 click HERE.


Posted in Market Trends
March 15, 2018

The Millennial Migration

If you’re in any generation older than the millennial one—or you’re a classic movie buff—you may recall the famous “Field of Dreams” line, “If you build it, he will come.” Yes, thank you, Kevin Costner. It’s hard not to think about this metaphorically and literally, especially in the context of how millennials are bravely crossing demographic and geographic lines as they begin to set roots. It seems that whether or not you build it in Oregon, they will come. But why? Consider the following:

  1. Culture. Oregon is cool. Hipster even. The Portland area has earned this reputation for decades. People care about avant-garde here. Expression of self and local things. Microbrews and vineyards. The small things matter, because they impact the bigger things. Take all the cool towns in the U.S. like Berkeley and Austin and Ann Arbor and mush them into one and then you have the places of Oregon. What’s not to love? Millennials are coming to Oregon because they care about culture. They are passionate about what they do, and they prefer to connect within communities. They are goal-oriented and they value achieving a better quality of life. They, too, want the American Dream.

  2. Work. State unemployment is low, coming in at 4.3 percent in October according to the Oregon Employment Department. That’s good to know, especially since it’s been said that millennials are moving here with an entire lifestyle in mind, not just for jobs. Some of them even arrive without work lined up, the idea being that they will find something to match their all-around plans. Or they will start up something. Looking more closely at work venues, Oregon Business magazine reported that in-state millennials are working primarily in health care, retail and customer service. Although they haven’t headlined the workforce in tech and construction, there is definite room for growth as baby boomers seek to retire.

  3. Nature. Oregon’s moderate climate is a win-win for most outdoor adventuring. From bicycling to running and skiing to snowboarding, endless outdoor activities are possible for residents and vacationers in this part of the U.S. All year long. And this generation loves it because they like to get out and do things. In fact, a recent Harris Poll said that 78 percent of millennials would rather pay for an experience than purchase material things.

So then, is this generation buying houses? Yes! Zillow is reporting that people aged 18 to 34 have taken the lead as the nation’s largest group of homebuyers, coming in at around 34 percent this year. And although Eugene Oregon has been experiencing housing shortages and higher median list prices lately, continued low mortgage rates are helping offset negative factors in purchasing.

Looking at population growth, millennials in Oregon passed the 1 million mark several years ago, healthily ahead of the state’s baby boomers and Generation Xers. The largest percentages of 18 to 34 year-olds live in Portland and its suburbs, but many cities and small towns across the state are growing in popularity thanks to their affordability, family-friendliness, and job openings. So the millennials will come, whether or not anyone builds it. Overall, that’s great news for real estate, construction, and just about anyone involved in the housing industry.

Posted in Market Trends
March 15, 2018

Open House in Santa Clara!

Open House: 2 Opportunities to See! Saturday (3/17) from 11-2 pm & Sunday (3/18) from 12-3 pm! 

Text the Code, Click here, or Call Amanda today for more details at (541) 579-1010! 

Posted in Listings
March 15, 2018

Open House for Country Home!

Open House for this Country Home on 5 acres This Weekend! Saturday (3/17) from 1-3 pm! 

Click here for more information or Call Amanda today at (541) 579-1010! 

Posted in Listings
March 14, 2018

First Open House for New Springfield Listing!

Come see this brand new listing in the quiet Thurston Hills this weekend at the 1st Open House! 

2 Opportunities! Saturday (3/17) from 4-6 pm & Sunday (3/18) from 12-3 pm! 

Can't wait? Want more information? Click here or Call Sunday today at (541) 606-4409

Posted in Listings