Medford home prices plunge

Rock-bottom prices for Medford homes reflect dramatic changes in Southern Oregon’s housing market.

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More than 90 homes in Medford are on the market for less than $90,000 — a price that would have been unheard of several years ago.

And while many of the cheaper homes need remodeling work, an $8,000 tax break and other incentives are making them even more affordable for bargain seekers and investors.

Home prices in Medford have dropped to prices not seen in nearly two decades, deflated by a sluggish economy and a high rate of foreclosures.

“We haven’t seen this in years,” said Jan Esquivel, a broker with Esquivel and Associates LLC. She said she is working with two clients who are looking for something only in the sub-$90,000 range.

Read the full story at the Mail Tribune.

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