July Newsletter
Summer Newsletter 2009
Greetings Friends!! I hope this note finds you all well and enjoying the beginning of a great summer!!
A quick newsletter this month with the announcement of 2 great new sports camps for July and August as well as a brief personal commentary on the state of the local Real Estate market for Lane County.
All the best for a wonderful and safe 4th of July weekend!!
AD
SMITH Summer Series - For K-3 Boys and Girls
I recently teamed up with my two older brothers (Burdy and Phil Smith) to start the Smith Summer Series. On top of the FREE 1 and 2 day camps that we’ve offered each of the last 4 years, we are adding a Summer BASKETBALL and Summer SOCCER Series to this year’s schedule.
Phil is a Varsity girls’ basketball coach at South Albany High School and is wonderful with kids of all ages. Burdy, a longtime 5th grade teacher, is as good as it gets and is always a big favorite with the young kids. Together, with a fantastic group of counselors, we will offer a wonderfully positive experience for young kids in the area. These young age groups are amazing to work with and I think an age group in need of positive teaching.
We are excited to continue a wonderful relationship with Kidsports to offer the Summer Series for K-3rd graders and the free camps for K-5th graders. Free Camp sign ups will be available in October and December and the Summer BASKETBALL and Summer SOCCER Series are available for sign up now. (Link to Registration and Info Page)
Smith Summer BASKETBALL Camp Starts Saturday July 11th, 2009
Basketball Camp Dates- July 11th, 18th, 25th and August 1st
Soccer Camp Dates -- August 8th, 15th, 22nd, 29th
All Sessions will be at Meadowview K-8 School at 1855 Legacy St in Eugene.
Each Smith Summer Series will consist of 4- 60 minute sessions for boys and girls in incoming Kinder-3rd Grade. Each Camper will receive first class coaching in a positive learning environment, focusing both on the fun and fundamentals of the game.
Tentative Times Per Session (Confirmed Times Emailed 5 days before camp)
K-1st Graders 9am-10am
2nd-3rd Graders 10am-11am
Cost is $40 -- All Campers will receive a Camp T-shirt
Real Estate Update for July 2009 By AD Smith
Some good news on the Real Estate front in Lane County as total inventory is at its lowest level since 2007. That decreased supply should continue to stabilize prices. Total sales and pendings still lagged behind May levels from 2008 but are at their highest levels this year--a definite positive sign that the market has rebounded some. That is good news for potential sellers and those looking to refinance in ‘09. I would argue, however, that there is still more advantage to home buyers with lower interest rates, lower prices versus ’07 and ’08 and of course the $8000 tax credit for qualifying buyers. What's Next? Predicting the future in Real Estate in a shifting market is a bit like picking stocks in a tricky stock market---not easily done. Some predictable factors however should help make the situation less murky. The biggest influence on the market in 2009 has been the influx of “first time homebuyers” because of the government stimulus package. First timers (or those who have not owned a home in the last 3 years) qualify for an $8000 credit (basically a check from the IRS) when they purchase by December 1st, 2009. This Stimulus plan had one major goal --To get rid of excess inventory on the bottom of the real estate market (Lower third of the market including bank owned properties, short sales, etc...) By decreasing the inventory the idea was that prices would stabilize and those fortunate enough to sell on the bottom of the market would “trickle up” and thus help the mid and higher ends---Basically to get things moving again. In some respect that has happened locally and it’s my opinion that the market will boost even more in the last few months of ’09. With no parallel program announced for 2010, first time home buyers will be feeling the pressure to get their home purchased by the deadline on December 1st. That should continue the trend of decreasing inventory and hopefully even the playing field more for sellers. LANE COUNTY OVERVIEW—By the Numbers RMLS June 2009 May Residential Highlights Sales activity in May in Greater Lane County failed to match May 2008 levels, but continued to grow compared to the previous month. Comparing May 2009 with the same month in 2008, closed sales dropped 9.9% and pending sales fell 4.2%. New listings were also down 26.3%. On the other hand, comparing May 2009 with April 2009, closed sales grew 33.5% (247 v. 185) and pending sales were up 1.6% (320 v. 315). New listings dropped 1.1% (526 v. 532). At the month’s rate of sales, the 1,989 active residential listings would last approximately 8.1 months. A year ago, inventory stood at 8.6 months. This marks the first same-month decline since September 2005. Year-to-Date Comparing January-May 2009 with the same period a year ago, closed sales were down 23.8%, while pending sales decreased 11.2%. New listings were down 21.9% as well. Sale Prices The average sale price for May 2009 was down 15.5% compared to May 2008, while the median sale price dropped 12.7%. See residential highlights table below. Month-to-month, the average sale price and median sale price were mixed when compared with April; the average sale price dipped 1.9% ($224,200 v. $228,500) and the median
sale price was up 1.5% ($199,000 vs $196,000). As always if you should ever have Real Estate questions or concerns I’m happy to help in any way possible. Feel free to email (adsmith@kw.com) or call (653-7407) anytime. Some good news on the Real Estate front in Lane County as total inventory is at its lowest level since 2007. That decreased supply should continue to stabilize prices. Total sales and pendings still lagged behind May levels from 2008 but are at their highest levels this year--a definite positive sign that the market has rebounded some. That is good news for potential sellers and those looking to refinance in ‘09. I would argue, however, that there is still more advantage to home buyers with lower interest rates, lower prices versus ’07 and ’08 and of course the $8000 tax credit for qualifying buyers. What's Next? Predicting the future in Real Estate in a shifting market is a bit like picking stocks in a tricky stock market---not easily done. Some predictable factors however should help make the situation less murky. The biggest influence on the market in 2009 has been the influx of “first time homebuyers” because of the government stimulus package. First timers (or those who have not owned a home in the last 3 years) qualify for an $8000 credit (basically a check from the IRS) when they purchase by December 1st, 2009. This Stimulus plan had one major goal --To get rid of excess inventory on the bottom of the real estate market (Lower third of the market including bank owned properties, short sales, etc...) By decreasing the inventory the idea was that prices would stabilize and those fortunate enough to sell on the bottom of the market would “trickle up” and thus help the mid and higher ends---Basically to get things moving again. In some respect that has happened locally and it’s my opinion that the market will boost even more in the last few months of ’09. With no parallel program announced for 2010, first time home buyers will be feeling the pressure to get their home purchased by the deadline on December 1st. That should continue the trend of decreasing inventory and hopefully even the playing field more for sellers. LANE COUNTY OVERVIEW—By the Numbers RMLS June 2009 May Residential Highlights Sales activity in May in Greater Lane County failed to match May 2008 levels, but continued to grow compared to the previous month. Comparing May 2009 with the same month in 2008, closed sales dropped 9.9% and pending sales fell 4.2%. New listings were also down 26.3%. On the other hand, comparing May 2009 with April 2009, closed sales grew 33.5% (247 v. 185) and pending sales were up 1.6% (320 v. 315). New listings dropped 1.1% (526 v. 532). At the month’s rate of sales, the 1,989 active residential listings would last approximately 8.1 months. A year ago, inventory stood at 8.6 months. This marks the first same-month decline since September 2005. Year-to-Date Comparing January-May 2009 with the same period a year ago, closed sales were down 23.8%, while pending sales decreased 11.2%. New listings were down 21.9% as well. Sale Prices The average sale price for May 2009 was down 15.5% compared to May 2008, while the median sale price dropped 12.7%. See residential highlights table below. Month-to-month, the average sale price and median sale price were mixed when compared with April; the average sale price dipped 1.9% ($224,200 v. $228,500) and the median
sale price was up 1.5% ($199,000 vs $196,000). As always if you should ever have Real Estate questions or concerns I’m happy to help in any way possible. Feel free to email (adsmith@kw.com) or call (653-7407) anytime. * Complete Lane County Market Action--with Graphs * Options when Facing Foreclosure! If you do not wish to receive future emails regarding future camps or AD Smith Newsletters please reply “unsubscribe"