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Oregon #3 in nation for appreciating home value

Oregon ranked # 3 in the nation for residential real estate appreciation
Oregon ranked # 3 in the nation for residential real estate appreciation
Photo by Joe Raedle/Getty Images

Real Estate and Banking industry bellwether CoreLogic has ranked Oregon # 3 in the nation for appreciating home value.

The Tuesday report highlighted a nation-wide recovery of the residential real estate market. According to CoreLogic of Irvine, Ca., housing prices(including distressed property) has gained as much as 12% on a year over year basis with several markets coming within 10% of their peak home price appreciation.

CoreLogic reports that 97 of 100 U.S. largest population centers showed year over year increase in property evaluation when comparing January 2014 to the previous year.

CoreLogic, Zillow and other real estate industry information services expect the up-trend to continue with a modest gain of .07 percent predicted for February.

Looking to Western Oregon and Eugene, an unbroken forward momentum of closed sales through the winter months should transition into a brisk spring real estate season.

“We’re often asked by prospective clients as to the state of the local real estate housing market; Good question, says P.R. McCants of Barnhart Associates, Eugene.

“While we know that regional and local residential property listed and closed sales price has increased over the lows of 2008- 2011, folks that bought during those years are most likely breaking even or upside down in property value,” says P.R..

McCants speaks on to tell us that while good news drives the market, perspective Lane County home sellers should perform due diligence, as to appropriate market price point and neighborhood marketability prior to listing the home.

RMLS data indicates that 20% of all homes that come to market flounder due to unsubstantiated value perceived by a prospective seller.