In Lane County compared to last October, pending sales rose 41.7% and closed sales increased  25.1%. New listings grew 10.8%. Comparing October 2009 with September 2009, closed sales increased 5.7% (314 v. 297).  Pending sales were down 6.7% (333 v. 357). New listings decreased 3.1% (503 v. 519). At the month’s rate of sales, the 1,939 active residential listings would last approximately 6.2  months.

 

This just in!  Senator’s met this morning and agreed to extend the first-time homebuyer tax credit of $8,000 that was set to expire Nov. 30th.  With and including in this new extension, you must be under a signed contract before April 30th 2010 with a closing before June 30th, since the average timeframe on obtaining a loan is 45-60 days.  In addition to this, they will be offering $6,500 credit for repeat buyers wo have owned their current home for a minimum of 5 years.

 What are your thoughts?   Is this a waste of money?  Will this help us pull America out of the Recession? 

You may have heard, that last week the all 416 members of the House of Representative’s voted to pass an extension for the first time homebuyer Tax Credit to our military overseas, including Forein Service members and our intelligence workers thru November 30, 2010.  The bill is now being presented to the Senate for final approval.  There is still no word on if the extension will expand to all first time homebuyer’s at this time since there is opposition between the Republicans and Democrats. 

The first-time homebuyer credit is part of the American Recovery Act, passed by Congress and signed by the President earlier this year. 

I will keep you posted….

You might be asking yourself, why would a Realtor want to write about falling furniture.  Well, that’s simple, it’s something that as a buyer or a seller you should be aware of.  You see, prior to when you have put your home on the market, did you think about the safety?  Not just hiding of your valueables, prescription drugs, and unmentionables because not all buyer’s are honest; but say the furniture too?  Is the dresser strapped attached to the stud wall? Television mounted or strapped down? You see what I am getting at.  And this goes for not just people who live in “earth-quake” zones, but everywhere. 

As a buyer, especially the ones with children under 18, most know you shouldn’t touch any personal items, but the smaller children can to be curious at times. They may see something cool or exciting and want a closer look, climb up the furniture and before you notice, the dresser / TV could be on top of them. 

There was a study done from 1990-2007 by the Center for Injury Research and Policy of The Research Institute at Nationwide Children’s Hospital that an average of nearly 15,000 children younger than 18 years of age visited emergency departments annually for injuries received from furniture tip-overs.  According to the study, most furniture tip-over-related injuries occurred among children younger than 7 years of age and resulted from televisions tipping over.  The study also found that more than one quarter of the injuries occurred when children pulled over or climbed on furniture. Even children ages 10-17 years were more likely to suffer injuries which included desks, cabinets or bookshelves tipping over.  But head and neck injuries were most common with younger children, while children older than 9 years were more likely to suffer injuries to the lower body.

I, as a mom, and a Realtor sometimes need reminding of the simple things.  Last night was that reminder.  We had a close call with a dresser falling with a tv and some other things on the top of it.  My two daughters were unharmed, but it was enough to scare them (and me).  They were not just scared, but terrified of what could’ve happened.  You see, my oldest daughter was getting a pair of socks out of the top drawer and when she opened it, all 6 drawers opened too. This caused the dresser to tilt forward so she got scared and jumped out of the way where it fell completely.  The stuff on top (TV slid off and out of the wall and managed to not break).  My youngest daughter was on the bunkbed ladder just as it was falling towards her and she scrambled up to the bed.  My husband was in the kitchen when he heard the loud crash and ran back to help.  I was just leaving a meeting when he called. 

So it got me thinking about the what if’s… what would you do?  Do you already have your large furniture secured to prevent injuries?  Even though warnings from the U.S. Consumer Product Safety Commission, the number of injuries involving televisions and other furniture tipping over onto children has increased in the US since the early 1990s.

“There was a more than 40 percent increase in the number of injuries during the study period, and the injury rate also significantly increased during these years,” said study senior author Gary Smith, MD, DrPH, director of the Center for Injury Research and Policy at Nationwide Children’s Hospital. “This trend demonstrates the inadequacy of current prevention strategies and underscores the need for increased prevention efforts,” he adds.

The study is published in the online issue of Clinical Paediatrics in May 2009.

Sep

15

Last month, we saw inventory drop to 6.2 months for the first time since August 2007 when inventory then was 5.1 months.  This August, we are showing an increase to 7.8 months of inventory.  We have seen inventory as high as 20.6 months back in January 2009, which tells me, that we are not out of the water just yet. 

I am also seeing the numbers fluctuate monthly, pendings up this August from last August (08) by 1.8%, yet prices have dropped another 6.5% (median sale price dropped 7.7%).  Closed sales were lower by 16.4% and new listings dropped by 2.3%. 

You can also see that now that school’s are back in session, summer is slipping past us and less people have moved since last month.  If we compare July 09 to Aug 09, we can see that closed sales dropped by 19.8%, pending sales have stayed the same, and new listings were down by 6.7%.  We currently have about 2065 homes on the market. 

I can break this up by area’s as well.  If you want more information please go to my website www.ShannonCaldwell.net or email me with your questions at Shannon@ShannonCaldwell.net.  I can provide answer’s to all of your questions, and if I don’t have them, I know where I can find them. 

Sep

8

Tonight, my family and I went to drop off our girls school supplies so they don’t have to bring them on their first day of school.  They got to see their brand new (I mean new construction new!) Thurston Elementary School.  Two years ago they started construction for the new school, while planning the demolition of the old Thurston Elementary which opened in 1950.  It was a very quaint school; full of charm, and with charm comes the need for repairs. 

The first thing they lost was the play ground, and they had to start a running program around the perimeter to encourage the kiddo’s to stay active, earn rewards by running laps.  Now, they are trying to earn a real track from NIKE.  We have been voting for this to happen and cross our fingers that we get it.  The new school is Two story with the 3-5th grades upstairs, each grade has its own wing.  The lower grades, K-2 are downstairs again with their own wings.  They also have recieved a cafe called the “Cheetah Cafe”, a cafeteria, and a GYM.  Before, they ate in their classrooms.  It was just beautiful, and it made me appreciate where I live.  My kids get to go to one of the best schools I have ever seen.  They get the best education our teachers can possibly give.  The support of a great PTA helping them receive top of the line equipment.  They get friends that will last them for life, here, in this small but very close community we know as Thurston.  (Springfield, OR) It was great to see so many new and returning families, some clients, and more friends.  

Springfield Oregon has so many great schools.  Ridgeview is another great school with awesome teachers.  Both elementary schools feed into Thurston Middle and Thurston High Schools. 

Whether you are moving from out of the area to Springfield or moving accross town, if you have any questions please feel free to contact me.  www.shannoncaldwell.net or you can check out my market snapshot of the community with out ever talking to me!  Click here

I have had a lot of questions about this $8,000 first time home buyer tax credit so I thought I would try to explain it better here. 

 People who have not owned a home in 3 years, (aka renters) or if you are a first time home-buyer (meaning you have never purchased a home before) may be eligible for a tax credit for purchasing a home and closing the transaction by Nov. 30, 2009. There are several ways that you can get this tax credit even if you have already filed your tax return.

If you are asking how, please note that under the American Recovery and Reinvestment Act of 2009, qualifying taxpayers who purchase a home before Dec. 1st can receive up to $8,000, (or $4,000 for married individuals filing separately). People can claim the credit either on their 2008 tax returns due April 15 or on their 2009 tax returns next year.  Here is how,

  • File an extension. If you haven’t yet filed their 2008 returns but are buying a home soon could request a six-month extension to October 15. Doing this is faster than waiting to claim it on your 2009 tax return.  Just a note, even with an extension, you could still file electronically, and may receive your refund in as few as 10 days with direct deposit.
  • Amend the 2008 tax return. Say you are buying a home soon and have already filed their 2008 taxes may consider filing an amended tax return. The amended tax return will allow you claim the home-buyer credit on the 2008 return without waiting until next year to claim it on your 2009 return.
  • Wait to claim till 2009 instead of 2008. It may be easier however to wait and claim the home-buyer credit next year when you file your 2009 tax return instead of claiming it using an amended 2008 return or filing an extension. It could benefit  you more if you qualify for a higher credit on the 2009 tax return. (This could include people who have less income in 2009 than 2008 because of factors such as a job loss or drop in investment income.)
  • The time however is running out.  With the lender’s taking longer to close deals, and if you are thinking about how you can receive this too, please give me go to my website at www.shannoncaldwell.net. The time is NOW! Rate’s are still historically low, houses are priced lower than they have been in years! 

    Lane County sales activity grew in July compared to July 2008. Closed sales increased 11% and pending  sales were up 14.9%. New listings dropped 8.2%. 

    On the other hand, comparing July 2009 with June 2009, closed sales grew 13.3% (332 v. 293), but pending sales dropped 3.7% (339 v. 352). New listings increased 12% (627 v. 560).

    At the month’s rate of sales, the 2,074 active residential listings would last approximately 6.2 months, down from 8.8 months last July.

    Year-to-Date

    Comparing January-July 2009 with the same period in 2008, pending sales were down 4.5%, and closed sales fell 15%. New listings also decreased 20.3%.

    Sale Prices

    The average sale price for July 2009 was down 8.8% compared to July 2008, while the median sale price dropped 6.5%. 

    Month-to-month, the average sale price and median sale price were up when compared with June; the average sale price increased 4% ($237,700 v. $228,500) and the median sale price was up 2.6% ($215,000 v. $209,600).

     

    Courtesy of RMLS July 2009