Volatile Market - Six Reasons to Sell

Full Video Transcript Below

Volatile Market - 6 Reasons to Sell

Alice Lema: [00:00:00] Hey real estate fans. Alice Lema , broker John Scott and beautiful Southern Oregon with another edition of the weekly podcast. Today, we're gonna talk about six reasons why people still wanna sell, even in this crazy volatile market. So we've got a chart from KCM keeping current matters. My favorite, one of my favorite websites.

So before we get to that, wanna give you a quick second to subscribe to the channel. Give us a like, thumbs up, send some questions, share with your friends. And if you wanna talk to me personally, privately during the weekend 541-301-7980 number up there. Reach out to me I'm around all week and we can talk about your re personal real estate stuff.

Okay onto the podcast, six reasons why people still wanna sell their house even in this volatile market. Number one, 31% want different features and amenities. A lot of us got sick of being home during the shutdown. And here we are a few years later and we're making changes. We're putting our house on the market, cuz we want a different kind of set up.

A lot of us want [00:01:00] pools, bigger backyards, more garages. Yeah, nicer backyards, more privacy, less privacy. But the idea that we just don't wanna fix the house we're in, we wanna move, cuz it's easier sometimes to move than to remodel 31% number one.

Number two 29% home, no longer meets their needs. Kind of dovetailing on number one. And again, accommodating work from home, accommodating school from home, just a different lifestyle, bigger house, smaller house, 29%. House doesn't meet their needs anymore.

Number three, need a home office to work out of number 20. Number three, 26% said they want a home office they want. So that's kind of a bigger house or they want a different floor plan. Super, super common.

Number four, 23% wanna be closer to loved ones. Happens all the time, especially during the holidays. You watch, you watch these holidays. We're gonna get phone calls. People are gonna wanna move here. They're visiting their kin folk. They love it. They don't wanna leave happens all the time. [00:02:00] That's number four, 23%. Wanna be closer to their loved ones.

Number five, 22% want a smaller house. So smaller house, less work, pretty common, especially with older people.

And number six, 17% no longer need to live near the office cuz they can remote from anywhere. Lot of our relocate coming to Southern Oregon are in that category. Number six, 17%.

Also wanna go back to number three 26% need home office there's folks in that category. There are also lumping in a school room. Some folks are accommodating their at home students in case of hybrid or ongoing hybrid learning, but also some kids or even adults are homeschooling. So yes, and they need another room for that.

So those are our six reasons. People are still selling even in this traumatic environment. Such a hard week for everybody. I know it was just tough to watch interest rates well over 6% [00:03:00] again. Yeah. And the stock market really, really struggling.

But let's talk briefly about what's going on in Southern Oregon this week. You know, our listings still more. We have more listings than we did this time last year. Jackson county has 5% more listings than it did this time last year. Josephine county is up 8% in total listings from this time last year. In Klamath county, ah, Klamath county is down 6% from this time last year. What do you think of that?

So starting to change a little bit, let's talk about how many closings we had and prices cuz that's, that's where the meat is. Right? So the number sold in Jackson county this week is down 2% from this week. Last year Josephine county is down 9%. From this time last year in Klamath county, down 4%, of these are number of closings. So Jackson county down 2% number of closings from this [00:04:00] time last year. Josephine county down 9% from this time last year of closings. And Klamath county down 4% from this time last year of number of closings.

Now let's look at our prices. Here we go. Jackson county price is up 5% year to date from this time last year. Josephine county is up 6% prices and Klamath county is up 10% from this time last year.

Wow. It's it's crazy times. Prices are still going up, even though we have a ton of price reductions. The market's different people started too high. So we have a lot of price productions, but if you look at the overall appreciation, all the homeowners are still making money and it looks like it's still at a pretty good clip, even though we have the number of closings down, the number of solds down and we have more listings.

So there you go. So our little Southern Oregon is still holding its own and we gave you six [00:05:00] reasons from KCM today why people are still selling. Cuz you know, there's a lot of that talk around, around the kitchen table and I get these phone calls here was like, why would anybody sell right now?

That's why. Because it's still a good time to make real estate changes happen in your life if it makes your life better. Okay, so that's our podcast for this week. If you need anything, reach out 541-301-7980. Sorry I know my own phone number, but there you go. Reach out to me, be happy to help you with your real estate needs this weekend.

Otherwise have a beautiful couple of days. Hug those you love. We'll see you next week bye.