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👁🗨 Sesemi STR Hot Sheet | 📲 STR Mortgages
Dear Open Sesemi STReet reader,
Welcome to a fresh edition of vacation rental and multi family investment information and properties in Oregon. Our top real estate and investment market headlines this week:
Inventory of new listings increased in Q1 of 2024. Home prices in Oregon were up 1.1% year-over-year in February. At the same time, the number of homes sold fell 3.2% and the number of homes for sale rose 2.7% according to Redfin.
Mortgage rates rise on persistent inflation. The average mortgage rate spiked nearly .25% after Wednesday’s hot CPI report, the largest intraday move in the 10 year treasury yield in almost two years. Bond traders are now betting that Fed rate cuts could be delayed beyond June.
Gold and silver rise again, with Gold approaching $2400/oz and silver was up over $28/oz briefly. Commodity prices in general are up substantially this year, including oil up 22%, which will cause pressure on prices.
If you missed it, we moved our STR HOT sheet to an easy online and invite only website: SESEMI SHEET for convenient shopping and scrolling. Text us for the cheat code.
📈 What inflation means for real estate investors
If you follow us on Bigger Pockets, we have held the position for nearly a year that inflation was likely to persist longer than bond markets anticipated leading to higher mortgage rates. The root cause of inflation is increased money supply, and with US deficits approaching TWO TRILLION annually (with nearly half of that as interest due on the federal debt) the country and USD is on an unsustainable fiscal pathway.
Fed Chairman Powell declares, “The inflation story hasn’t changed.” Meanwhile, Mohamed El-Elrian, Allianz chief economic advisor now predicts just two FED rate cuts in 2024.
Our independent analysis is that inflation will remain problematic, preventing the FED from cutting rates as anticipated (with the potential for an interest rate INCREASE) leading to elevated mortgage rates through 2024. In the near term this will likely continue to the trend on the Oregon Coast towards a buyer’s market with greater seller incentives offered. Also Buyers with higher cash reserves, equity and/or down payments might consider homes with assumable mortgages.
🌲 Eugene named best places to live 2024 by Money Magazine
Money.com recently announced their top 50 places to live in the US for 2024. To no surprise Eugene Oregon made the list for it’s eclectic culture, academia, natural environment and low unemployment rate. We’ve been very high on the investment potential of Eugene and the I5 corridor for the past five years. The University and downtown continue to grow, and with easy access on low cost airlines like Avelo, Eugene is a gateway to the central and southern Oregon Coast. According to Redfin home prices were up 3.9% in February compared to last year with average time market of 41 days.
Check out these Eugene multi family property listings:
1400/1404 Hionda Ave Eugene OR - Duplex Asking $530k
427 Washington St Eugene OR - Duplex + Triplex - Asking $700k
950 Patterson St Eugene OR - OU Campus 4-Plex Asking $949k
Here are five suburbs of Eugene also worth an investment look:
Cottage Grove
Springfield
Creswell
Veneta
Junction City
📍Here are Six STR Picks this week on the OR Coast:
535 S Crestline Dr Waldport OR - Foreclosure STR eligible. $315k
920 13th Ave Seaside OR - SFR + ADU $439k
3949 Spruce St Florence OR - Back on Market $449,900
90821 Laurel Cove Ln Coos Bay OR - Active STR. $749k
94966 Hwy 101 Yachats OR - Oceanfront 2/1 County eligible $750k
95181 Hwy 101 Yachats OR - Oceanview w/ ADU. Active STR $990k
You can also search for yourself at www.sesemisheet.com Text 541-800-0455 for the cheat code.
🏘 BONUS: Here are four NEW Multi Family listings in Oregon:
3217-3219 NE Tide Ave Lincoln City OR - Duplex Asking $475k
1708 4th St Tillamook OR - 8 Plex Asking $549k
1111 Harrison Ave Astoria OR - Historic Tri-Plex Asking $585k
2451 Biehn St Klamath Falls OR - Off Market 9 Plex $880k
🏆 In house mortgages with C2 Financial Corp, the #1 broker
We’re very excited to announce Anthony Wong has joined the nations largest mortgage broker C2 Financial Corp as a licensed mortgage originator. This strategic partnership enables investors real time product and pricing access as well as real world savings. Currently licensed for conventional lending in Florida and coming soon to Oregon.
We are offering DSCR financing and commercial in most states. Visit our profile HERE
Thank you for reading this week’s edition of Sesemi STReet, your one step solution to intuitive investing in Oregon and California. Schedule your 1 on 1 consultation or annual Spring catch up before the full summer season!
Hosted by: Anthony AJ Wong Licensed RE Broker in the States of Oregon & California. FL NMLS ID: 2297941
