Industry Updates • January 9, 2023

The Best Day to List Your Home

by Michael O'Coyne

“The Best Day to List Your Home for a Quick and Successful Sale: A Comprehensive Guide”

The Best Day to List Your Home for a Quick and Successful Sale: A Comprehensive Guide

The Best Day to List Your Home: Thursday

Do you want to sell your house fast and for the best price? If so, you might be wondering which day is best for you. A study analyzed 100,000 homes sold in 2017 and found that Thursday’s the best day to list your home if you want to sell fast. On the other hand, there are better days to attract buyers than Sundays.

Wednesday’s Higher Sale Price

The study looked at homes listed on different weekdays. Houses listed on Wednesday sold for $2,023 more than houses listed on Sunday. For a $500,000 house, that’s $2,650 more. Besides a higher sale price, homes listed on Thursday had buyers five days faster than the baseline and sold within 90 and 180 days more than the baseline.

Wednesday’s sale price needs to be clarified why, but buyers’ schedules may coincide with the advantages of listing on Wednesday and Thursday. If you list Wednesdays, there’s a sweet spot for generating the most urgency and competition among buyers in a fast-paced, low-inventory market. Agents who list on Wednesdays are better at pricing their homes for the best price.

The Importance of Being a Fresh Listing

If you want to take advantage of this, you should list your house Wednesday or Thursday, so it’s one of the first listings buyers see over the weekend, says Redfin Denver agent Karla Kirkpatrick-Adams. In competitive markets like Denver, many houses are listed on Wednesday and Thursday, with the expectation that buyers will view them over the weekend, submit offers by Monday afternoon, and the house will be under contract by Tuesday.

Don’t Forget Regional Customs

The broker’s open house is usually held on weekdays. An agent’s open house is an open house for agents. Agents may go to a series of brokers’ open houses on Tuesday to show buyers all the new houses in town. You should talk to your agent about the best listing day for your situation and local market norms. Regional customs can also play a big role.

The Importance of Timing for a Strong Online Debut

When it comes to making a positive online debut, timing is key. When you put your house on the market, you get five times more traffic than if you put it on the market a week later. You should price it at market value or below to attract buyers immediately. Well-priced homes get a lot of offers and get bid up. Overvalued homes sit on the market for a long time.

Professional Photography Can Help Sell Your Home for More Money

On average, sellers who used a high-quality camera for their listing photos sold their homes for $3,400 more than those who didn’t.

In order to sell your home fast and for a good price, you should list it on Thursday. Make a positive online debut by pricing it at market value or below. Using professional photography will make your home sell faster and for more money.

Conclusion: Get Expert Guidance on the Best Day to List Your Home

You can ask a trusted realtor the best day to put your home on the market if you’re ready to list it. With their expertise and insight, you’ll know that you’re making the best decision to sell your home fast and for the best price.

Get instant market values for your home.

Industry Updates • Southern Oregon • January 5, 2023

Selling your house in Southern Oregon

by Michael O'Coyne

3 Best Practices for Selling Your House Quickly and Profitably This Year

If you plan on Selling your house in Southern Oregon and Rogue Valley, taking the necessary steps to ensure you get the best possible price is essential. From staging your home to providing all the paperwork is in order, having a plan in place can make the process much smoother. Here are three tips for selling your house quickly and profitably in Southern Oregon and Rogue Valley.

Price It Right

The first and most crucial step to selling your house is pricing it correctly. If you overprice your property, it could sit on the market for a long time without attracting any interest. If you underprice it, you could take advantage of the potential profit from the sale. A comparative market analysis is the best way to determine what your house is worth. This will show you what similar homes in your neighborhood have sold for recently, allowing you to set a competitive price in the current market. Remember that pricing your house at what you think it's worth and at what it's worth are two different things.

Keep Emotions Out

While it might be your dream house, keeping emotions out of the decision to sell your home is essential. Look at the facts and figures to see what you could get from the sale. This will help you make the best decision for your situation. Be realistic about how long it might take to sell your house, as many factors could affect how long it stays on the market. Suppose there were significant upgrades or renovations recently. In that case, it could take slightly longer to sell than a typical house on the market. Suppose you're working with buyers using a mortgage lender. In that case, they will need a certain amount of time to complete the approval process. If your house isn't ready to close on time because of renovations, it could slow down the whole process and keep your house on the market longer. If a lender has to re-approve the buyers, it could cause even more delay.

Stage It Well

Staging your home for sale is a great way to boost your sales and make your house more appealing to potential buyers. Adding a few stylish touches and rearranging furniture can instantly make the house feel more modern and updated. Some simple changes can make a big difference. For example, adding fresh flowers or a vase of plants will instantly make your house feel more welcoming. Brightening dark corners or rearranging furniture to open a room will make the house feel more spacious. You can also consider removing anything that could be a turnoff for a potential buyer, such as hobby items or children's toys. You don't want potential buyers to think they need to clean up after you before they can move in, so remove any obvious clutter.

Challenges of Selling A House in a Changing Market

One challenge you might face when selling a house in a changing market is that buyers may need to be more relaxed about making a purchase. Suppose you're selling your house during an economic uncertainty (such as now, in the early 2020s). In that case, buyers may be more risk-averse and less likely to buy a house. They may be more focused on protecting their money and less likely to make a big purchase like a house. Another challenge you might face is that buyers may be less potential to go the traditional route of buying a house. There has been a rise in the number of people renting instead of buying. This means there are fewer potential buyers on the market right now.

Conclusion

Consider the challenges of selling in a changing market, such as economic uncertainty or increased competition. Consider working with a real estate agent to sell your house. They will have access to an extensive network of potential buyers and experience selling houses, making the process easier. They can help you price your house correctly, stage it to look its best, and make any necessary repairs or updates to maximize its appeal. They can also help you manage the paperwork involved in the sales process.

A Few Helpful Links

Get instant market values for your home.

Industry Updates • December 22, 2022

Affordability in the Housing Market Improves in November

by Michael O'Coyne

Affordability in the Housing Market Improves in November

My role as a broker at Windermere Van Vleet involves keeping a close eye on the housing market to provide my clients with the best possible advice and guidance. During the past few months, home buyers have had some slight relief regarding affordability. Due to declining home values and lower mortgage rates in November, the average mortgage payment cost dropped by about $100.

However, it’s important to note that monthly mortgage costs are still up $720 or 66.1% year-over-year. According to Zillow’s latest Market Report, the typical home is now worth $357,733, which is 0.2% less than in October and 0.5% less than the market peak in June 2022. The Federal Reserve’s increases in the nominal interest rate are primarily to blame for the currently cooling market.

But there is some good news. The recent pullback in mortgage rates has brought costs down for the first time since July, marking the second time in the past 19 months. While large-scale affordability concerns are expected to be around for a while, this news gives hope that affordability will at least stabilize going into 2023.

In the meantime, it’s worth noting that the housing market entered a “deep freeze” in November as buyers have paused their purchasing plans until after the new year in many cases. According to Zillow’s Senior Economist, Jeff Tucker, the two big questions now are whether mortgage rates will continue to decline and whether that will be enough to bring buyers back in time for the spring selling season.

While the slight drop in rates may not completely invigorate the market, affordability will continue to weigh on it, particularly during the traditionally slower winter months. In November, the number of pending listings fell by 16.5% from October and is down 38% compared to last November. Additionally, new listings, or the flow of existing homes onto the market from sellers, are also down 25.4% compared to the previous year. Many homeowners who may want to sell their homes are being deterred by the higher borrowing costs they’d need to pay on their next home’s mortgage.

The median time on the market is now 22 days, up from a low of six days in March 2022 and double from a year ago. On the other hand, inventory is up 7% year-over-year, the most significant increase since 2018. As a result, those looking for a new home may benefit from motivated sellers, unusual bargains, and less competition.

Despite some challenges in the housing market, it’s essential to keep in mind that there are still opportunities for those looking to buy or sell a home. The recent drop in mortgage rates and the hope for stability in affordability going into 2023 is positive news for those looking to move into the real estate market.

Now is a great time to take advantage of the current market conditions and make your move in the real estate world. Whether you’re looking to buy your dream home or sell your existing property, working with a knowledgeable and experienced real estate professional can make all the difference. As a broker at Windermere Van Vleet, I have the expertise and resources to help you succeed in your real estate endeavors. Don’t hesitate to contact me to discuss your needs and how I can assist you in making your real estate goals a reality.

Click here to see Zillow’s research in its entirety.

Industry Updates • Southern Oregon • December 22, 2022

What To Expect from the Housing Market in 2023

by Michael O'Coyne

What To Expect from the Housing Market in 2023

The housing market's state can significantly impact whether or not it's an excellent time to buy or sell a home. If you're considering making a move in 2023, staying informed about what to expect in the coming year is essential. Here's a breakdown of what experts predict for the housing market in 2023.

Mortgage rates

Mortgage rates play a significant role in determining the affordability of homes. If rates are high, it can make it more difficult for buyers to secure financing and afford the cost of a home. On the other hand, low rates can make it easier for buyers to get a mortgage and drive up demand for homes.

So what can we expect for mortgage rates in 2023? According to experts, it will largely depend on inflation. Inflation refers to the overall price increases of goods and services in an economy. When inflation is high, it can drive up the cost of living and make it more expensive for lenders to borrow money. As a result, lenders may pass these higher costs to borrowers through higher mortgage rates.

On the other hand, low inflation can keep the cost of living in check and make it cheaper for lenders to borrow money. This, in turn, could lead to lower mortgage rates for borrowers.

Experts are predicting that inflation will continue to fall in 2023. If this happens, it could lead to lower mortgage rates for borrowers. However, it's important to note that mortgage rates can be volatile and are subject to change. If you're considering buying a home, it's a good idea to keep an eye on inflation and mortgage rates in the coming months to get a better sense of what to expect.

Home prices

In addition to mortgage rates, the balance between supply and demand significantly determines home prices. When demand for homes is high, and there is a limited supply of homes on the market, it can drive up home prices. On the other hand, if demand is low and there is a surplus of homes on the market, it can lead to lower home prices.

During the pandemic, we saw a surge in demand for homes as people looked to leave crowded cities and take advantage of low mortgage rates. This led to a shortage of homes on the market and drove up home prices.

However, this year we've seen a moderation in demand due to rising mortgage rates and other economic factors. As a result, we've seen home prices moderate and the housing supply grow.

The exact level of appreciation will depend on the local market and various other factors. According to expert forecasts, we can expect relatively flat or neutral appreciation nationally in 2023. That means some areas may see slight price gains while others may see small price declines.

If you're considering buying or selling a home, it's a good idea to keep an eye on the local market and consult a real estate advisor for guidance. They can help you understand what to expect in terms of home prices in your area and assist you with making an informed decision about whether or not it's an excellent time to buy or sell.

Factors that could impact the housing market in 2023

Several factors could affect the housing market in 2023. Here are a few to consider:

Interest rates: As mentioned, mortgage rates are primarily driven by inflation. However, they can also be influenced by other factors, such as the federal funds rate set by the Federal Reserve (the Fed). If the Fed decides to raise or lower the federal funds rate, it could impact mortgage rates and the housing market.
Economic growth: A strong economy can increase home prices and increase demand. On the other hand, a weak economy can lead to a decrease in orders and lower home prices.
Unemployment: High unemployment rates can lead to a decrease in demand for homes as people may not have the financial stability to buy a home.
Demographics: The age, income, and family size of potential buyers can impact the demand for homes in a particular area. For example, if a site has a large population of young families, there may be more demand for homes with more bedrooms and more extensive square footage.
Inventory: The number of homes available on the market can impact the balance between supply and demand and, in turn, home prices. If there is a high level of inventory, it could lead to lower home prices due to increased competition among sellers. On the other hand, if inventory is low, it could lead to higher home prices due to a shortage of homes on the market.
Natural disasters: Events such as hurricanes, earthquakes, and wildfires can impact the housing market by causing damage to homes and reducing the supply of homes on the market.

How to prepare for the housing market in 2023

If you're considering making a move in the housing market in 2023, there are a few steps you can take to prepare:

Assess your financial situation: Before looking for a home, it's essential to assess your financial situation and determine how much you can afford to spend. This will help narrow your search and ensure you're looking at homes within your budget.
Get pre-approved for a mortgage: It's a good idea to get pre-approved before looking for a home. This will give you an idea of how much you can borrow and help you understand what you can afford. It can also make you a more competitive buyer when making an offer on a home.
Work with a real estate agent: If you're unfamiliar with the local housing market, it can be helpful to work with a real estate agent. They can provide insight into the local market, help you navigate the buying or selling process, and negotiate on your behalf.
Stay informed: Keep an eye on the local housing market and stay informed about what to expect in the coming year. This will help you make informed decisions about whether or not it's an excellent time to buy or sell a home.

Conclusion

The housing market in 2023 is expected to bring some stability, with experts predicting relatively flat or neutral appreciation nationally. However, the local market and other factors can impact home prices and mortgage rates. If you're considering moving into the real estate market, it's a good idea to stay informed about what to expect, and as your trusted real estate advisor, im here to help.

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Southern Oregon • September 11, 2022

Living In Ashland Oregon

by Michael O'Coyne

Living In Ashland Oregon

It's wonderful to live in Ashland, Oregon, where you can experience nature, culture, and high quality of life in one place. Please come visit us someday!

The picturesque town of Ashland, Oregon, is located in the Pacific Northwest region. It has a rich cultural heritage thanks to its scenic mountain views, vibrant arts scene, and friendly residents. In Ashland, Oregon, an arts community thrives, surrounded by beautiful scenery.

History Lesson

The Donation Land Act and the gold rush in Jacksonville in 1852 negatively affected Ashland, Oregon, and other Rogue Valley towns. Early settlers of Ashland used Mill Creek, which later became Ashland Creek, to see lumber for settlers. An immigrant named M. B. Morris and partners Helman and Emery founded Ashland Flouring Mills in 1854 to grind local wheat into flour. As a result, Ashland Mills became known as the town. Helman became postmaster at the Ashland Mills post office in 1855.

Ashland expanded in the 1860s and 1870s, with schools, churches, businesses, and Ashland Woolen Mills manufacturing clothing and blankets from local wool. Because the Post Office dropped "Mills" from the name in 1871, Ashland's name was changed. In 1872, Reverend J. H. Skidmore founded Ashland Academy, the precursor of Southern Oregon University.

In 1908, the Women's Civic Improvement Club petitioned for a park named Lithia Springs Park in Ashland. It was designed by John McLaren, the landscape architect of Golden Gate Park in San Francisco. The town commissioned McLaren to design Lithia Springs Park. The mineral spa at Emigrant Lake was proposed to draw lithia water from the lake and pipe it to Ashland. Mineral water was sold from the area's springs, even though local taxpayers could not afford the mineral spa. As a result, the plans were abandoned in 1916.

The Oregon Shakespeare Festival has become an internationally-renowned regional theatre since the 20th century, thanks to Angus L. Bowmer's efforts in 1935 to hold performances during the Fourth of July celebration.

Ashland is a densely populated suburb that has become a suburb with a population of 21,138. Restaurants, coffee shops, and parks are among Ashland's many bars and restaurants. The population leans conservatively and provides a highly esteemed school system, and retirees and young professionals live there. In Jackson County, Ashland is continually voted as one of Oregon's best places to live.

DO YOU THINK ASHLAND IS RIGHT FOR YOU? HERE'S WHAT YOU NEED TO KNOW.

WELCOME TO SOUTHERN OREGON'S CULTURAL CAPITAL

Located in Oregon's scenic Rogue Valley, Ashland is Southern Oregon's cultural capital, just 15 miles from the California border. Living in Ashland, Oregon, is simple. It has a friendly, relaxed feel, and locking your doors is more of a personal preference than a must. Because the sun shines 200 days a year, Ashland is a good place to live if you want a mild climate and four seasons.

Oregon's Ashland has cultural amenities to rival the country's biggest metropolises, and its rich art, theatre, and music history keep things exciting. In Ashland, Oregon, you can find dozens of art galleries, the world-renowned Oregon Shakespeare Institute has its campus on the town square, and music is played live all year long.

There are over 20,000 people living in Ashland, so you'll feel right at home. Despite its small-town atmosphere, Southern Oregon University contributes to the town's parks and tourist attractions as a result of its college town character.

Everything from outdoor recreation to arts and culture to fine dining, Ashland has it all and is known for its high quality of life. This city attracts major musicians, independent films, and numerous festivals because art and expression are valued. Everyone can enjoy Ashland's sophisticated amenities as a result of the synergy created by its culture, student population, and tourism.

The Oregon Shakespeare Festival (OSF) is one of the country's finest theatre groups, reinventing Shakespeare and other renowned playwrights, both ancient and modern, in elaborate plays.

Foodies will love Ashland's food scene. The city's quality restaurants and fresh ingredients help establish it as a culinary destination. More than 100 restaurants are found here (unusual for a town of this size), and the climate is perfect for growing crops. Wineries and breweries are also found in Rogue Valley.

A LIFE IN ASHLAND, OREGON, MEANS LIVING IN NATURE

There are lots of parks and open spaces to explore in the City of Ashland, which boasts a well-developed park system. Siskiyou and Cascade mountain ranges border the town, which is surrounded by forests, creeks, and a large lake. More than 41 miles of trails and nearly 1,000 acres of parkland are available.

The park, which surrounds OSF's campus and plaza, covers 93 acres. You can find a magical wooded park here, featuring a clear stream, lush meadows, beautiful landscaping, walking trails, tennis courts, playgrounds, duck ponds, a swimming pool, a Japanese garden, and picnic areas. The park is a wonderful place to shop, dine, see art, and have fun in Ashland's downtown area.

The city of Ashland, Oregon, prides itself on its health and wellness, and outdoor activities are a popular pastime. The majority of its residents enjoy trail running, hiking, mountain biking, skiing (the Mt. Ashland Ski Area is 25 minutes away), water sports, and many other outdoor activities. Year-round outdoor activities and adventures that require significant travel to other areas of the U.S. are accessible to locals.

It is a smart decision to begin a family in Ashland, Oregon, because of its thriving culinary and arts scene and outdoor pursuits. According to Niche, which ranks cities based on housing, education, family friendliness, and diversity, Ashland is 9th in Oregon for education. According to U.S. News and World Report, Ashland High School is usually listed among the country's top ten percent of high schools.

ASHLAND, OREGON, HAS SO MUCH TO OFFER! COME AND SEE FOR YOURSELF!

There may be no better place to live for nature, culture, and quality of life than in Ashland, Oregon. I hope you'll come to visit us someday!

Southern Oregon • September 7, 2022

5 Reasons Why You Should Move to Southern Oregon

by Michael O'Coyne

5 Reasons Why You Should Consider Moving to Southern Oregon

Crater Lake Southern Oregon

Now may be the perfect time to consider moving to southern Oregon if you’re planning on moving soon. Portland and Eugene are familiar places, but not everyone knows there’s a lot more to the Pacific Northwest. In fact, there are quite a few picturesque small towns in Southern Oregon that are worth exploring. Consider these 5 reasons why you should move to Southern Oregon if you’re looking for some great new living options.

The Environment

South Oregon is green and lush like many other parts of the state. It’s mild and warm, with cool evenings. There are also different microclimates depending on what part of the region you live in, so it’s possible to find a place with the right weather. Furthermore, this is a low-risk area for natural disasters, so you don’t have to worry about earthquakes or floods. Fresh fruits and vegetables are not a rarity here since the climate is conducive to growing a wide variety of crops.

Outdoor Activities for All Seasons

In the Pacific Northwest, Southern Oregon offers endless outdoor opportunities year-round. Hiking, camping, kayaking, fishing, and skiing are available all year round in this region if you love the great outdoors. A number of national parks are also nearby and are great places to visit with family and friends. Crater Lake National Park is just one of many you will fall in love with. There’s also a wealth of smaller water-related activities you can enjoy, like swimming, boating, and fishing.

Food Culture

The Southern Oregon region is home to many amazing artisanal food producers. There is no shortage of delicacies to sample and savor, from cheese to bread to wine. A number of restaurants and cafes serve high-quality cuisine, making eating out a special occasion. You’ll also find that there are a variety of farmers’ markets in this region, where you can buy fresh, locally-grown fruits and veggies year-round. Southern Oregon also has a number of great seafood restaurants, making it easy to enjoy seafood that is both fresh and delicious.

Centrally Located to Major Metros

A great place to live if you like to travel and explore new places but don’t want to live too far away from family and friends. Despite its remoteness, this area is centrally located, making it easy to travel to major cities like Portland, Bend, San Francisco, and Reno. The major cities are within a five-hour drive, making trips convenient and easy. Additionally, this region is close to the beautiful redwood forests of the Northern California coastline.

Small Town Life

Although you may imagine quaint, rural towns with nothing to do, Southern Oregon actually has a number of very small but well-developed and vibrant communities. Towns like these offer everything you’d find in a larger place but are much more manageable. There are great schools, modern healthcare facilities, and opportunities to get involved. The small-town lifestyle is often quieter and calmer than life in a larger city, making it easier for some people to settle in.

Conclusion

Southern Oregon has a lot to offer and is a great place to live. If you’re thinking of moving, this is a region that is definitely worth considering. With a mild climate, endless outdoor activities for all seasons, a thriving food culture, a centrally located proximity to major metros, and a small town lifestyle, there are many reasons why this is one of the best places to live in the U.S. – Does Southern Oregon sound like the change of pace you’ve been looking for? Call OCoyne Properties today to find a home in this PNW wonderland!

Get in touch with me today 541-218-7762 or send an email to mocoyne.realtor@gmail.com .

The Best Day to List Your Home

“The Best Day to List Your Home for a Quick and Successful Sale: A Comprehensive Guide”

The Best Day to List Your Home: Thursday

Wednesday’s Higher Sale Price

The Importance of Being a Fresh Listing

Don’t Forget Regional Customs

The Importance of Timing for a Strong Online Debut

Professional Photography Can Help Sell Your Home for More Money

Conclusion: Get Expert Guidance on the Best Day to List Your Home

Selling your house in Southern Oregon

3 Best Practices for Selling Your House Quickly and Profitably This Year

Affordability in the Housing Market Improves in November

Affordability in the Housing Market Improves in November

What To Expect from the Housing Market in 2023

What To Expect from the Housing Market in 2023

Living In Ashland Oregon

Living In Ashland Oregon

History Lesson

DO YOU THINK ASHLAND IS RIGHT FOR YOU? HERE'S WHAT YOU NEED TO KNOW.

WELCOME TO SOUTHERN OREGON'S CULTURAL CAPITAL

A LIFE IN ASHLAND, OREGON, MEANS LIVING IN NATURE

ASHLAND, OREGON, HAS SO MUCH TO OFFER! COME AND SEE FOR YOURSELF!

5 Reasons Why You Should Move to Southern Oregon

5 Reasons Why You Should Consider Moving to Southern Oregon

The Environment

Outdoor Activities for All Seasons

Food Culture

Centrally Located to Major Metros

Small Town Life

Conclusion

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