Once again I am tardy with last month’s market trend reports for Bend, Oregon.
Things are looking better here for the real estate market in Bend, Oregon. Once again we are hitting the top of a couple of “Best of Lists”. Check out these two links from the past month,
Mount Bachelor uphill from 'Beer City USA' seattletimes.nwsource.com
http://adventure.nationalgeographic.com/adventure/trips/best-ski-towns-photos/
Bend continues to be one of the finest places to live, work and play. Local Pete Alport has put together a short Youtube video piece that helps define why so many of us choose to live here. 360 Degrees of Mt. Bachelor by Pete Alport www.youtube.com
Our local real estate market continues to recover as we bounce along the bottom. As mentioned in this blog previously it is my humble opinion that we have hit the bottom of the market. My observation through hindsight is that we bottomed around the spring of 2009 and have been bouncing up and down in small increments for the last three years.
Currently new listings are on the rise but our inventory continues to shrink. Last month there were 22 new listings above the previous month, yet overall inventory of residential homes in Bend dropped by 73 to 432 homes.
Of these listings distressed properties continue to have a smaller presence in our market. As of today (2/21/12) there are 41 bank owned, 48 short sale and 353 traditional sale residential properties actively listed. Of course this is leading to quite a bit of competition for the better priced homes. We still continue to see the seller who believes they need to recover a good portion of their investment made back in the hay days of 2004 -2006 but more often folks are coming around to the reality that those dollars are gone for the foreseeable future.
With that said now is the time to take action!! If you have been sitting of the fence waiting for someone to declare we have hit the bottom, it has now been declared so get off the fence. Interest rates are low but will not stay there for much longer, home prices are still low but our selection is limited. We see incredible properties all the time; they just do not last long. So if you are jumping in to the market come prepared. Have your funding squared away, talk to a good lender; get pre-approved for your loan. I have a couple of very highly regard mortgage specialist I can recommend. If you are a cash buyer have your proof of funds easily accessible and let’s go hunting for a property in Central Oregon.
Brother Jon's - Breakfast - Bend Oregon
13 years ago
