Oregon Homeowners Gain over 50% + 2023 Foreclosures

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Oregon Homeowners Gain Over 50% + 2023 Foreclosures

[00:00:00] Well, hey, real estate fans, Alice Lema, here, broker John L. Scott in beautiful Southern Oregon, another edition of the Weekly podcast. Today we're gonna talk about how in the last five years, Oregonians have averaged a 50% increase in their property values. Yep, 50%. We're also gonna touch briefly on the new foreclosure and short sale stats in southern Oregon.

It's gonna be great. So first, let's talk about what's happened with values in the last five years in the state of Oregon. So on average, every single property owner has gained about 50% in the last five years, which is astonishing. Absolutely astonishing. But it just goes to show, even though we had hyper acceleration because of the covid and the fires, Southern Oregon still usually has some annual net gain of three to 6%, five to 9%. It just kind of, our normal run rate is, is still [00:01:00] something to crow about because southern Oregon has that lifestyle. We have the rural districts, we have the mountains, we have the lakes, we have urban centers that have enough services to keep our population happy. And yeah, and for the most part it's, it's a pretty casual lifestyle.

And so a lot of people wanna be here. And since the Covid, even more people have discovered us and wanna be here. And so we're looking out into the future and trying to determine, because there's a lot of bad news on the press that there's a housing crash coming and and definitely the economy is hard right now.

The inflation alone is enough to wanna pull your hair out. And then you add the interest rate increases. But all that aside, I just want to reinforce that this chart from KCM, Keeping Current Matters Showing Oregonians have on average over 50% equity in the [00:02:00] last five years is, is really, really exciting.

Now going back to the conversation about are we gonna have a housing crash or not, we still have a shortage of housing supply even in southern Oregon. We're up. Our inventory is up from this time last year, somewhere between 23%. 40, 42, 43% from last year, but it's still not enough. We're still behind. So again, please begging anybody thinking of selling in the next couple of years, think about doing it now. We still have a ton of buyers and we understand the market conditions. So that's valuable too.

Touching on our foreclosure and our short sale. We're gonna start reporting on this a little bit more just so that you could see the data I'm watching and come to your own conclusion whether or not we're gonna have a housing crash in the next year or so.

So this is Jackson County and these are reports that are local MLS, [00:03:00] Rogue Valley Association of Realtors puts out, they're absolutely fabulous. They have so much data on that website, but we're only gonna talk about the foreclosure and the the foreclosure and short sale traffic because it's just not that much.

And I took the time to compare it to 2009. So here you go. In 2009 in Jackson County we had short, Sales 211 short sales in Jackson County in 2009. Right now we have one, but we have one . Our foreclosure activity in 2009 in Jackson County, 725. Right now in Jackson County we have eight and that's still low. But we have eight.

In Josephine County in 2009 our short sale activity was 44. Right now in Josephine County, zero. The foreclosure traffic in Josephine County in 2009, 194 right now in Josephine County, four. [00:04:00] Again, not very much, but still something.

Let's do Klamath. In 2009, Klamath had one short sale, and right now they have zero. And in Klamath County in 2009 they had 16 foreclosures. And right now, they have five. So we'll track this from, from time to time. We'll track it more often just to kind of put people's minds at rest. And also because we're watching this every week and reporting on this every week, you're gonna see if something's gonna happen.

Okay? Short of another catastrophic world event or national event, we're gonna see it coming because we have the data. Okay? So that's our podcast for today. And congratulations to all the homeowners over the last one to five years who have had a positive equity boost. Yay for that. And our hearts go out to anybody who's in a short sale or foreclosure. You can [00:05:00] come back from that and if you need some help, just gimme a call, gimme a text.

Also if you're ready to list your house, if you wanna do some investing, first time buyers also great with downsizers, upsizes ,River front and rural property as well as multi-family. So real estate's my bag.

I do it all. Call me, text me. (541) 301-7980. And yeah, I wanna be your agent. So let's talk about what we can do for your real estate next step. Have a beautiful weekend. Hug those you love. Bye now.