Saturday, April 27, 2013

Lane county Oregon home prices continue to rise. Foreclosures still on ice..

With a small foreclosure shadow inventory, and Real Estate brokers unqualified to negotiate short sales stalling them Real Estate values are rising. Oregon banks will start to release the approximately 2600 in current shadow foreclosures next week. Spread evenly across the state by population it is not going to stop the 2013 rise. I expect loan modification failures along with failed short sales to create another shadow inventory that will affect the market sometime in late 2014 to early 2015. I forecast a normal rise and fall in values will take place inside 2017-2029, Remember. 2002-2012 inflated and crashed on an extreme scale due to bad loan underwriting. The profits nor losses will not compare to the recent bubble melt down. All markets adjust! Buy on the down turns & sell on the way up. Nobody can accuratly predict an exact bottom or top. If you found it you already missed it. I call it investing on hill sides. If you are still in the buyers market you missed the bottom by 5%. Read my blogs or call me to follow when I am buying, holding, or selling.
Justin Thayer
Team Thayer Key Reality Group & LJT Inc.

Eugene Metro Zillow Home Value Index