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SUNNY Temp: 90 °F Wind: CLM at 0 mph Tuesday, July 29, 2003 SECTIONS Home Page Local News Sports Business Obituaries Life Opinion - Politics AP News Weather Classified Archives Site Map EXTRA HomeLife Magazine W3 Magazine Jobs @ Mail Tribune Tempo A & E Oregon CarZone Wellness Connection Real Estate Newspaper in Education Prime Times Outdoor Journal Personals Movie Times TV Times E The People CLASSIFIEDS Find a Car Find a Home Find a Job Find Everything E SOUTHERN OREGON Automotive Communities Entertainment Publications Recreation Calendar ABOUT US FAQ What's New Advertise Home Delivery Classified Ad Contact Us Media Kit Email Story to a Friend May 13, 2003 Phyllis and Bill Feusahrens, left, were in for a shock as they reviewed homes and home prices with real estate broker Mike Malepsy in Eagle Point. Mail Tribune / Bob Pennell Homing in sales Buyers are snapping up local houses, but rising prices have become a reality check for some By GREG STILES Mail Tribune New arrivals to Jackson County continue to make it a seller’s market for houses, and smaller communities are not immune to the sticker shock. Bill and Phyllis Feusahrens were struck by two things as they searched for a new home in the Eagle Point area: Rogue Valley real-estate prices are significantly higher than in the Twin Falls, Idaho, area they are leaving, and new subdivisions don’t carry quite the sticker shock. "We’re selling the house we’ve lived in for 18 years in Twin Falls, and looking at a comparable house here there’s about a $75,000 difference," says Feusahrens, who was recently named superintendent of Eagle Point schools. According to figures compiled by Medford appraiser Roy Wright, sales in Eagle Point have risen more than 40 percent during the past 12 months. While the median price of $152,400 is unchanged, the average square-footage has decreased from 1,770 square feet of living area to 1,544 square feet. Advertisement The Feusahrens explored and reviewed their options on Monday. "Shady Cove is a gorgeous setting, but the district office is in Eagle Point and our 13-year-old son will soon be entering high school, so living in Eagle Point will be much more convenient than in one of the outlying communities," he said. "We were looking around a few houses on the golf course, but those homes are a little out of our price range." Ultimately, they decided to build in a new development called Whistling Hollow, across Alta Vista Road from the golf course. "It doesn’t even have black top now," Feusahrens says. "The real estate agent is thinking we can get a custom-built home $15,000 cheaper than an existing house. We’ll just have to tough it out, get an apartment until the house is built." Although the Feusahrens concentrated their search around Eagle Point, they have had plenty of company. Buyers unable to find what they’re looking for along the I-5 corridor between Ashland and Central Point have turned to Eagle Point in the past year. "There are people wanting to get out of the city, get their kids into more a rural area and still be able to work in Medford," says Terry Hanscom, an agent at Windermere Trails End Real Estate in Eagle Point. "You could find a new home for $145,000 to $150,000 all over the place a year or two ago," Hanscom says of the Eagle Point area. "Now people are swarming in and saying ‘$170,000? Wow, That’s great!’ And I’m thinking ‘This is really amazing.’ " A total of 69 homes sold in the first four months of this year in Eagle Point, compared to 49 a year ago, according to Wright’s statistics. The selling trend has been among smaller, less- expensive homes. The highest priced house to close this year is $345,000, compared to $459,900 in 2002. Although the pace has been far from frantic, those who hesitate often find themselves on the outside looking in when offers are accepted. "I’ve been involved in a couple of different properties where people had been slow to turn in offers and someone else bought it first," Hanscom says. "So they’ve learned to jump right in there." Reach reporter Greg Stiles at 776-4463 or e-mail [email protected] April breaks record for Jackson County home sales April was a record-breaking month for Jackson County single-family home sales as 247 units exchanged hands. A total of 194 houses were sold in 2002 and 205 in 2001, according to figures compiled by Medford appraiser Roy Wright. With the number of houses for sale down by 30 percent from last year in the major county markets, median prices climbed 13 percent over 2002 levels. Fueled by low interest rates, sales also climbed by 13 percent. The countywide April median price jumped to $170,000, compared to $149,900 a year earlier. Average days on the market for houses fell to 80. East Medford prices climbed 30 percent over the 2002 median to $195,705. West Medford prices followed suit, rising 14 percent to $138,947. The number of sales nearly doubled as 51 houses exchanged hands. While the annual pace of sales in Ashland slowed for the first time since December, that city’s median sale price jumped 22 percent to $285,000 over last year, and saw a marginal gain over the previous month. The rate of sales dropped off in Central Point during April as well, with 31 units selling, compared to 42 in 2002. The median price gained 2 percent over 2002 to $158,000 and the selling time fell to 84 days. Talent showed monthly and yearly gains with the median price going up 11 percent to $148,742 over 2002. Inventory of existing houses dropped across the board with 274 fewer homes available last month than in April 2002. 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