BUYERS & SELLERS

• The 30-year fixed held at 7.40% on October 15 (Freddie Mac), and the 15-year averaged 6.71%. On a $340,000 loan, the 15-year costs about $647 more a month and saves about $307,000 in interest.
• Josephine County’s median asking price was $499,000 in September, while homes that sold went for a median of $425,000. A seller pricing off the signs on the street starts about $74,000 above where buyers are closing.
• Sales between $350,000 and $399,999 led Josephine County through September: 137 homes, up 16% from 118 last year. A home priced in that band sits where the most buyers are signing.

INVESTORS & DEVELOPERS

• On October 21, the Grants Pass City Council holds a hearing on rules for middle housing land divisions, which split a duplex, townhouse or cottage cluster lot so each home sells on its own lot. Owners of those properties gain a way to sell one unit and rent the other.
• Grants Pass stops collecting its affordable housing construction tax on December 31 after a 5-3 council vote. The tax is one-half of 1% of residential work valued at $50,000 or more, so a $300,000 home permitted in January saves its builder $1,500.
• Josephine County sales under $300,000 fell to 127 through September, from 152 a year earlier. Investors shopping for entry-level rentals have fewer homes to choose from at that price.

TALK OF THE TOWN

• Josephine County property tax statements arrive by October 25, and paying in full by November 16 (the 15th falls on a Sunday) earns a 3% discount. On a $3,000 bill, that’s $90 saved.
• Owners who believe the market value on their statement runs high can petition the Board of Property Tax Appeals through December 31. An appeal lowers the bill only when market value drops below assessed value, so compare both numbers on the statement before filing.
• Also on October 21, the council votes on an amended agreement with Allenwood Homes to build a mixed-income neighborhood at 175 and 225 Allenwood Drive, on land the city would convey. Buyers hoping for a newer home in southwest Grants Pass have more on the way.

Questions about what any of this means for your home or your plans? Arrange a meeting.