What does it mean for Eugene home buyers and sellers?
Here’s a quick assessment:
- The current FHA-backed loan limit is $260,839. NAR predicts that as a result of the stimulus package, this will grow to approximately $343,209.
- The GSE limit will remain at $417,000. Contrary to new reports stating that Jumbo loans will suddenly be available at the conforming (lower) interest rate, that’s simply not the case for most of Oregon. NAR predicts however that Jumbo limits will rise slightly for Jackson and Deschutes Counties.
- HUD will post the actual limits on or before March 14, 2008.
- These new limits will expire on December 31, 2008.
This is why Zillow is in the game.
Not only are owners (or agents) posting homes for sale before they’re for sale, adding to liquidity AND an even stronger buyer’s market (buyers, that means you need to BUY), but people are also posting homes for less than the Zestimate that shows up right next to the make me move price. That’s either brilliant, or really dumb. Either way..you’ve got to be impressed by the sheer number of “Make me Move” homes that are now listed in Zillow.
…Left home at 10:15PM, walked out into night of the living dead.
Spooky! I’m not a drug buyer or seller, yelling obscenities at strangers, mentally ill, or running from the law or my family, so…I don’t really fit in.
I want to fit in, but I think I’m just too nice. I don’t yell obscenities unless it’s at my cats.
Another thing I’ve discovered..I think these people don’t like scrabble!
Hmm, I don’t see the law anywhere. I heard that they’re afraid of being sued and socially flogged by a fringe political group being financed by an anarchist named “bob”..
..ah well. Heading back now to hide in my pillow for another night…
Maybe I’ll draft a letter;
“Oh city leaders…can’t we do better? or are we really just animals inside? Is ‘embracing diversity’ another way of saying I can never be special to you?? One more night and I’m packing my bags and leaving you for good. It’s not you, it’s me. I’m sorry.”
The Register Guard reported on Saturday that the Nike store will be moving to Oakway Center. More great news for Oakway!
McKay Investment Company has done a very good job of revitalizing an area that could have easily turned into one big ugly strip mall. Over the past 15 years they have consistently set the bar high through clever deal-making, and by poaching potential merchants from 5th St and elsewhere.
If only the City Council or Mayor could strike those kinds of deals on behalf of Downtown Eugene, the downtown city streets might have more to offer.