La Grande Real Estate Snapshot: January 2011

La Grande Oregon Real Estate Market Snapshot: Real Estate in January 2011

So far in 2011, La Grande's real estate market has seen moderate activity for this time of year. Buyers are looking for deals and trying to leverage sellers off their list prices by at least 10% in all the offers I am seeing and writing. Most buyers in La Grande's real estate market are asking for the seller to help out with some closing costs. We have had a lot of snow recently in the Grande Ronde Valley, but that has not seemed to slow the buyers desire to look at property.

A new development in La Grande's real estate market for 2011 has been a (small) surge in Union County foreclosures. These foreclosures, especially in the La Grande area, have the potential to damage owner occupied property pricing if they continue to enter the market. The La Grande area has had a shockingly small number of foreclosures in the years since the recession took hold, to the surprise of out of area buyers. Our prices are in gradual decline but we have buyers so I do not anticipate a massive drop in 2011. We can thank our diverse economic base including the Grande Ronde Hospital and Eastern Oregon University for sheltering La Grande from the more damaging aspects of the Great Recession.

My advice to La Grande Oregon sellers is to price aggressively. I have seen many homes follow the market down the last two years when a substantial price drop on the front end would have netted more cash in the long run.

Thanks for reading and have a great winter!

La Grande Oregon Realtor Jeff D Clark