Medford OR Housing Prices? (Ashland, Eagle Point: for sale, real estate, foreclosure)

[lantzn]

Hello,
My wife and I have been planning to relocate to the Meford, OR area in a couple years. We've been watching the housing market over the past 5 years. With much dread, we saw the Californians drive the prices up the past few years. I'm wondering what the foreclosure situation in the US has been doing to the market in Medford this past year. Does it look like prices will drop back down to something realistic for the NW? Is there a glut of new homes now?

We would like a home and shop on 2-5 acres where I can enjoy my wine making and auto restoration hobbies. I've always want to grow my own grapes and have Malbec in mind. The Eagle Point area is my favorite.

[freedom]

Originally Posted by lantzn

Hello,
My wife and I have been planning to relocate to the Meford, OR area in a couple years. We've been watching the housing market over the past 5 years. With much dread, we saw the Californians drive the prices up the past few years. I'm wondering what the foreclosure situation in the US has been doing to the market in Medford this past year. Does it look like prices will drop back down to something realistic for the NW? Is there a glut of new homes now?

We would like a home and shop on 2-5 acres where I can enjoy my wine making and auto restoration hobbies. I've always want to grow my own grapes and have Malbec in mind. The Eagle Point area is my favorite.

The prices have come down substantially, you can do an MLS search at SouthernOregon.com in order to get an idea in your price range and flavor.
Eagle point is beautiful country and so close to the modern convieniences.

best wishes,

freedom

[AlaskaDave]

I have a property in Eagle Point for sale. Its 22 acres, has a house, barn, shop, and irrigated fields. If interested email me at dgross@bhb.com and I can provide more details.

Originally Posted by lantzn

Hello,
My wife and I have been planning to relocate to the Meford, OR area in a couple years. We've been watching the housing market over the past 5 years. With much dread, we saw the Californians drive the prices up the past few years. I'm wondering what the foreclosure situation in the US has been doing to the market in Medford this past year. Does it look like prices will drop back down to something realistic for the NW? Is there a glut of new homes now?

We would like a home and shop on 2-5 acres where I can enjoy my wine making and auto restoration hobbies. I've always want to grow my own grapes and have Malbec in mind. The Eagle Point area is my favorite.

[Steve97415]

Nothing underscores the location of the more desirable real estate pockets like a deflationary housing market. "The Medford area" encompasses a number of different markets that really have to be examined by individual zip code or even specific subdivisions or neighborhoods. It is surprising to some, in light of the current economy, how little affordable housing there is to be had in places like Ashland or Jacksonville. A typical 3 bd/2ba house in zip 97520 could easily cost twice what it costs in 97013.
So yes, there are deals to be had, but one has to think twice about whether or not a property that has lost a higher percentage of its peak value in the current downturn is really a "good deal" as a long term investment when compared to properties that have come closer to holding their worth but can only be had at a higher purchase price.