Three Oregon towns rank top five in the country where home prices are rising the fastest, including Medford, Eugene, and Corvallis. Medford taking second place. That making a big difference in what was, just recently, a sluggish market.
Recovery is sparking
competition. The Blesse's have been married almost 2 years and are ready to buy a home. But they say their jump into the housing market hasn't made a big splash.
"One of the things we're noticing right off the bat," remarks Ben Blesse, " is that the houses are flying off the shelves at this point."Yahoo finance reporting Medford as the second top city in the country to experience housing market recovery.
"It's getting very competitive. The houses are right where they're supposed to be, loans, and percentages, everyone is jumping on that," continues Blesse.
John L. Scott realtor Alice Lema, says lower housing inventory and out-of-state buyers are partly behind the sudden market change in Jackson and Josephine County. "It's not just the foreclosing home that are getting multiple offers.There are beautiful homes like this," continues Lema.
Prices are also rising, forecasted to increase more than 20% by the end of 2013.
"There's a lot of pent up demand, and a concern that interest rates are going up," says Lema, "so people are jumping in."
Plus for many, with prices so low from the recession, buying a home - right now - is less costly.
"For us specifically, it's cheaper to own our own home, instead of rent,'
So what do you do- if, like the Blesses, you suddenly find yourself in the Medford market
"Don't give up, be super aggressive, have all your paper work in order," says Lema, "and as soon as you get a phone call run in and get your bid in."
And the Blesse's say they're going to do just that.
"We're anxious, impatient. But we're realizing that it's going to be a long ride," says Ben.
A ride likely to take them many places..one of they hope..is to their new front door.
Now analysts do point out that the market could be hindered by Medford's unemployment - which stood at 11.7% in March.