Dear Friends and Clients,
It’s March and the plum trees are alive with beautiful pink blossoms (see today’s picture below), Real Estate lawn signs should soon be popping up across the Valley…
Statistically, there are 18.8 % more properties that are “active” on the market compared to this time last year, and the number of “distressed” properties for sale compared to regular sales, (we in the trade call “Happy Sales”), has shifted dramatically in the right direction – 89% are now Regular – only 4% REOs (foreclosed) and only 7% Short Sales…
Yet, it is a very strong Seller’s Market under $300,000 – even with the statistical improvements in not only the number of properties on the market, but also the huge shift away from “distressed” properties monopolizing the market. Still, there are surprisingly very few really “nice” desirable properties available – good “flowing” floorplan, attractive curb appeal, Pride of Ownership in the property as well as in the neighborhood – those go quick! $400,000 and up is showing a little interest, but not enough yet to gauge a trend.
By the way, I’m still trying to find a “nice” single story 3 bedroom, 3 car garage and in-ground pool for up to $450,000 for a Client – if you know of one, please let me know…
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We have all heard remarks like “Realtors put low prices on listings to make easy sales and quick money…” Well, I just had probably my best “FEEL GOOD” story of the year – I have to share… A gentleman came to me and told me that he was just about to give up and let the bank foreclose – he had an older rental house with some potentially developable land, that his tenants hadn’t been too kind to, they were vacating the end of the month, meaning “no income”… He had also gotten behind on some deferred maintenance, and had had it listed for 6 months with another broker with only one offer for about half of what he was owed… We approached it with a team effort, he cleaned up some of the deferred issues we identified, and I did my best – we had multiple offers over asking price within three days of putting it on the market, and rather than walking away with nothing in a foreclosure, he walked out of escrow with a little over $60,000 in his pocket… And I walked out with my tail a’waggin, feeling gooood that I had made a difference…
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Helping folks though the Property Management aspect of our business, it seems that I am always running into interesting situations or tid-bits that seem worth sharing and might just save you some grief and/or money. So, I plan to share one a month, and look forward to your feedback and questions… I would also be interested in hearing about your experiences that others could learn from, and any topics that you might like to see addressed in future newsletters.
Yes, we had the misfortune of burst water pipes in the attic during December’s deep freeze… The afternoon that things thawed, we suddenly had water cascading down two walls in the master and another two in the dining room – fortunately Lisa was home, heard the new indoor “water features” and got the water shutoff as soon as possible. We wondered how many folks know how to turn off the water to their home quickly? Emergencies can happen any time of year – such as a water heater rupture, or any pipe burst, a toilet overflowing but can’t be stopped by the valve at wall, the water line behind refrigerator to the icemaker leaks, the dishwasher leaks, possibilities are numerous…
Here’s what to do:
Go to the street – in the sidewalk, or near it – look for a flush concrete lid such as pictured below, use a screwdriver to lift the lid to expose the water meter and a lever that will be in-line with the pipe coming from the water meter (some lever types need a pair of pliers, some just by hand) turn the lever so that it is 90 degrees or perpendicular to that pipe and it will immediately shut ALL of the water off to the property… Hopefully mitigating your damage… and your panic…
Water Shutoff/Meter below
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Shutoff handle is on (inline) pointing away from meter |
Shutoff handle is off (see angle) now pointing to left.. |
Spring is coming… yeah! OK, so that’s a little storm in the background |
Garage door bottoms really DO freeze to the concrete – they do! I have recently had to replace TWO opener-motor gear kits at $195 a pop at different properties (the plastic gear sets are the purposeful weak or sacrificial link in your garage door opener)… When rain or snow hits the outside of the door, runs down and puddles, OR when you drive a wet or snowy vehicle inside, and it drips very much, with that water draining out and under the door (like it is supposed to)… Well, if the temperature drops down to below freezing that night, that innocent puddle/stream of “water” becomes a layer of ice that freezes the bottom of the garage door to the concrete…
Sooo, if you have had rain or snow and a good overnight freeze (how’s that for an oxymoron?) – you might want to walk up to the door and jar it (now, I didn’t say kick it…) just to make sure that it isn’t stuck before you hit the opener button Otherwise, I can highly recommend Don Davis with All Garage Doors, his cell 541-261-2487 He is prompt, knowledgeable, reasonable and a real nice guy.
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Commercial Real Estate usually follows right behind Residential in recoveries, but since residential really hasn’t recovered across the board yet, employment hasn’t rebounded yet, and with on-line shopping and labor-saving technology requiring fewer bodies and less space – there is a seemingly more pronounced lag in our office and retail sectors this time – but it will catch up, so it may be a good time to invest… A great example of a GREAT BUY today is a free standing mid 90’s, 1954 sq ft office building in a nice professional business park in a good eastside area within a block of the busiest intersection in Medford with 8 offices and a conference room for only $275,000 or lease for only $0.90 a foot… It would have sold in mid $400’s or leased for $1.35 per sq ft not long ago… and probably will again… Give me a call – be glad to show it to you…
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For the tradesman referral this month – re-read the Garage Door freezing article above… Seriously, please let me know if you found the pictures/tips helpful…
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If you or someone you know is thinking of Selling, I really would recommend putting your property on the market NOW – why not give it a shot against LESS competition? Chances of receiving a higher price are really good… I would be glad to do a FREE marketing analysis for you/them.
Below is the link to our Southern Oregon Multiple Listing Stats for 1st of March, so you can see more detail in area/s of special interest to you:
Southern Oregon Multiple Listing Stats for 1st of March
