The holiday season brought moderate success for retailers as people seem to be ready for some good news and are tired of the same old doom and gloom. For the housing market in Bend the news has remained the same for the past few months.
Going back to August of 2011 the sales numbers have been remarkably similar in all price categories with home under $325,000 leading the way for homes sold. With all the media coverage of a swollen distressed homes market our numbers representing the current inventory just do not support such coverage locally. The inventory numbers continue to sink with just over 500 homes offered in Bend, as recently as this past August that number exceeded 600.
By far the most active segment of the market remains homes priced $225,000 and under. This price range tends to help satisfy both the first time home buyer and the investor who is looking for affordable properties that will generate a positive return. With the occupancy rate for rental properties remaining low (around 4%), we will continue to see multiple offers on well priced homes under $325,000 as they tend to be the ones that pencil out the best for the investor who has the means to pick up these homes.
Currently 276 homes are listed over $325,000 and in this category there are some great values, they just take a little more time to discover but there is little competition for them.
As the world economic markets remain unstable look for that to affect our mortgage rates as investors look to the relatively safe Dollar and our bonds as a haven for their money. Their incoming funds may lead to a slow rise in mortgage interest rates. If rates raise look for more buyers to get off the fence and take advantage of the historic low rates currently offered. With the current low inventory of desirable homes expect the competition for those homes to increase.
To view the Market Trend Reports for Bend click here.
Showing posts with label sell your home. Show all posts
Showing posts with label sell your home. Show all posts
Wednesday, January 11, 2012
Wednesday, September 14, 2011
It has been a summer of neglect for my blog page. I was shocked to see that my last entry was back in June of this year. I thought I had done a better job of keeping folks updates on the real estate trending for Bend.
To bring you all up to speed the quickest way to access this information is on my web site shopbendhomes.com. For today I am including the information for the Duke Warner Realty Bend Real Estate Trends, The Bratton Report and the Bratton Notice of Default Report.
What we have seen for this past summer is a market that has leveled out price wise and inventories of homes has shrunk. Finding a good well priced home under $300,000 has been a real chore for most folks. When reviewing the market trends you can see how active the lower end of the market has been while the upper reaches of the market remain sluggish. This is a trend I would expect to see through out the winter and baring a miraculous turn around in the economy this will continue well into next year. Possibly some political maneuvering for the Presidential election may bring some temporary muscle to the economy.
What we see and hear most is that Bend is not dead, the title wave of shadow inventory in foreclosed properties is not coming. There is no dobut that there will be some large swells to navigate through but there are many folks waiting for the right moment to make their move here. All of the events, activities, weather and prefered lifestyle that drew many folks to Bend over the last decade remain. The long term prognosis for Bend is good, interest rates are low and opportunities are slipping away.
Give me a call if you need some one to be your bird dog for properties. I am constantly searching for properties for my clients and would welcome the opportunity to work for you.
To bring you all up to speed the quickest way to access this information is on my web site shopbendhomes.com. For today I am including the information for the Duke Warner Realty Bend Real Estate Trends, The Bratton Report and the Bratton Notice of Default Report.
What we have seen for this past summer is a market that has leveled out price wise and inventories of homes has shrunk. Finding a good well priced home under $300,000 has been a real chore for most folks. When reviewing the market trends you can see how active the lower end of the market has been while the upper reaches of the market remain sluggish. This is a trend I would expect to see through out the winter and baring a miraculous turn around in the economy this will continue well into next year. Possibly some political maneuvering for the Presidential election may bring some temporary muscle to the economy.
What we see and hear most is that Bend is not dead, the title wave of shadow inventory in foreclosed properties is not coming. There is no dobut that there will be some large swells to navigate through but there are many folks waiting for the right moment to make their move here. All of the events, activities, weather and prefered lifestyle that drew many folks to Bend over the last decade remain. The long term prognosis for Bend is good, interest rates are low and opportunities are slipping away.
Give me a call if you need some one to be your bird dog for properties. I am constantly searching for properties for my clients and would welcome the opportunity to work for you.
Thursday, November 11, 2010
The November Bratton Market Report for Central Oregon Real Estate is Here!
The Bratton group presents their numbers for October highlighting the real estate market trends in Central Oregon. The Bratton Real Estate Trends Report, Duke Warner Realty Real Estate Trends Report and The Bratton Notice of Default report are all available on shopbendhomes.com under area information – Market Trends Reports
These reports are great for the numbers junkies that can’t get enough information. You can use these numbers to distill your own ideas of where you think the market is heading. If this is too much information you can give me a call or email me and we can sit down and go over the pros and cons of today’s market conditions.
From where I sit the market in Central Oregon continues to stabilize with Notice of Defaults falling and homes in the $350,000 and under having the best strength. The lead in sales and the inventory has consistently been shrinking. In Bend there is currently 3.5 or less months of housing inventory in most categories under $350,000. The upper reaches of the market remain soft with more compromises on sales prices coming.
Redmond and the outlying markets have been slower to recover but have seen similar strength in the same price ranges. Our regions rural properties are bringing up the rear and remain relatively stagnant with money for financing being difficult to come by for these properties.
With interest rates remaining historically low many are finding this market prime with opportunity. These interest rates combined with the value in properties under $350,000 is helping lead the market to the low inventory numbers. It is hard to say how long we will see these low interest rates. Many feel the Feds decision to purchase $600 billion in long term treasury bonds last week may led to inflation hence driving the interest rates up. For now they remain low and should for the next few months.
If the rates head upwards it will be interesting to see if those who have been on the fence about buying in today’s market decide to make their move and jump in before they miss out.
These reports are great for the numbers junkies that can’t get enough information. You can use these numbers to distill your own ideas of where you think the market is heading. If this is too much information you can give me a call or email me and we can sit down and go over the pros and cons of today’s market conditions.
From where I sit the market in Central Oregon continues to stabilize with Notice of Defaults falling and homes in the $350,000 and under having the best strength. The lead in sales and the inventory has consistently been shrinking. In Bend there is currently 3.5 or less months of housing inventory in most categories under $350,000. The upper reaches of the market remain soft with more compromises on sales prices coming.
Redmond and the outlying markets have been slower to recover but have seen similar strength in the same price ranges. Our regions rural properties are bringing up the rear and remain relatively stagnant with money for financing being difficult to come by for these properties.
With interest rates remaining historically low many are finding this market prime with opportunity. These interest rates combined with the value in properties under $350,000 is helping lead the market to the low inventory numbers. It is hard to say how long we will see these low interest rates. Many feel the Feds decision to purchase $600 billion in long term treasury bonds last week may led to inflation hence driving the interest rates up. For now they remain low and should for the next few months.
If the rates head upwards it will be interesting to see if those who have been on the fence about buying in today’s market decide to make their move and jump in before they miss out.
Tuesday, October 19, 2010
Bend Oregon Market Trends...
While neglecting my blogging duties of late I have not posted the market trend reports for the last two months. If you visit my new website shopbendhomes.com under the Area Information tab you can find the Duke Warner Realty Market Trends reports dating back to June of this year and the Bratton Market Trend reports dating back to August.
Sorry for the inconvience but the web site provides a more complete platform for sharing this information.
Sorry for the inconvience but the web site provides a more complete platform for sharing this information.
Friday, August 6, 2010
They just keep dropping...
In case you have not heard Freddie Mac reports that long-term mortgage rates have moved down again.
This week interest on 30-year fixed loans hit a new low of 4.49 percent, compared to 4.54 percent last week and 5.22 percent a year ago. For those of you in position to take out a 15-year mortgage, they have hit a huge low dropping to 3.95 percent, down from 4 percent last week and 4.63 percent a year ago. Five-year adjustable-rate mortgages also reached a historic new low of 3.63 percent, down from 3.76 percent last week and 4.73 percent a year ago.
For those who have been on the fence about purchasing a home or refinancing these rates should prove enticing. It is unlikely that interest rates will soar anytime soon but why take chances. You would hate to be the one who says man I should have moved quicker on those rates.
These historic rates and the dramatic home bargains available allows one to buy much more home for the dollar than any time in the last ten years.
This week interest on 30-year fixed loans hit a new low of 4.49 percent, compared to 4.54 percent last week and 5.22 percent a year ago. For those of you in position to take out a 15-year mortgage, they have hit a huge low dropping to 3.95 percent, down from 4 percent last week and 4.63 percent a year ago. Five-year adjustable-rate mortgages also reached a historic new low of 3.63 percent, down from 3.76 percent last week and 4.73 percent a year ago.
For those who have been on the fence about purchasing a home or refinancing these rates should prove enticing. It is unlikely that interest rates will soar anytime soon but why take chances. You would hate to be the one who says man I should have moved quicker on those rates.
These historic rates and the dramatic home bargains available allows one to buy much more home for the dollar than any time in the last ten years.
Friday, June 11, 2010
Interest rates and opportunity...
If you were in Bend the last time we saw the housing market take a tumble, you would have witnessed scene reminiscent of today’s struggles. Many watched as the homes they purchased in the late 1970’s and early 80’s fall in value by as much as 40%. Such a dramatic drop in values presented those with the means the opportunity for some incredible bargains, which they turned into huge profits in later years. Most folks who wanted to purchase these bargains found them unobtainable as interest rates soared into double digits preventing most from taking advantage of what was at that time the “opportunity of a lifetime”.
As history has repeated itself and “opportunities of a lifetime” are once again plentiful. Your advantage in this go around, interest rates! What once crippled the housing industry has swung the other direction to a point so low one would not have imagined it possible just a few short years ago. Since late April interest rates are at historic lows and hover below 5%. As this week comes to a close rates have remained steady with a thirty year fix rate loan coming in at 4.72%. While under writing standards are as tough as they have ever been, we are seeing folks take advantage of today’s market to seize what will be tomorrows “I wish I would have bought that…” moment.
Many industry experts had anticipated a rise in rates this past spring, yet with the stumbling of the European financial markets our bond markets have remained a strong value for investors to invest their money. Common sense would say that as the markets stabilize interest will slowly begin to climb. As the rates climb the window of affordability for buying will shrink, the ability to snap up properties at a great value may slip away.
Will you be one of those that follow past cries saying “I could have bought that property five years ago for…”? While our market will not see rapid appreciation any time soon, now is the time to buy low so in five years you will be the one selling high.
As history has repeated itself and “opportunities of a lifetime” are once again plentiful. Your advantage in this go around, interest rates! What once crippled the housing industry has swung the other direction to a point so low one would not have imagined it possible just a few short years ago. Since late April interest rates are at historic lows and hover below 5%. As this week comes to a close rates have remained steady with a thirty year fix rate loan coming in at 4.72%. While under writing standards are as tough as they have ever been, we are seeing folks take advantage of today’s market to seize what will be tomorrows “I wish I would have bought that…” moment.
Many industry experts had anticipated a rise in rates this past spring, yet with the stumbling of the European financial markets our bond markets have remained a strong value for investors to invest their money. Common sense would say that as the markets stabilize interest will slowly begin to climb. As the rates climb the window of affordability for buying will shrink, the ability to snap up properties at a great value may slip away.
Will you be one of those that follow past cries saying “I could have bought that property five years ago for…”? While our market will not see rapid appreciation any time soon, now is the time to buy low so in five years you will be the one selling high.
Friday, April 16, 2010
Have we hit the bottom yet?? ..... Can I sell my house in this market??
In a market that seems to know no bottom how can you get your home sold. Pressure from distressed properties in today’s market has sellers refining their sales strategy. It seems like today’s market is dominated by distressed properties and a quick look at the numbers bears this out with nearly 64% of Bend, Oregon area homes sold since the first of the year consisting of either “Bank Owned” properties or owners “Short Selling” who are their homes.
So what will it take for you to sell your home in this environment?
First realize that the prices fetched in the 2005 -2008 market will not be returning anytime soon. Take realistic look at what homes have sold for in your neighborhood recently. In most cases price is a primary motivator in the purchase of a home, having the correct price when you first appear on the market is critical to selling in a timely manner.
Appearance matters before you go to market make sure your home is at its best. Take the buyers view of your home; is it attractive from the street? When you walk in to the home is clean and uncluttered? Does the aroma from your pets dominate the olfactory senses when you walk through the door? Light and bright, clean and uncluttered is best, fresh flowers and scents are a plus when showing your home. Complete any minor repairs or other projects that have not yet been tackled. Do not forget your yard!! Curb appeal draws people in, if your driveway is cluttered people will expect the same for the interior.
Other influences will affect the sale of your home such as location, amenities, size and layout of the home. In most cases you as the seller have little control over these factors, so it is best not to stress about what you cannot change. Better to focus on what you can influence.
Now that the home is ready it’s time to get the word out!! The first month of your home being on the market is the most critical. Your marketing strategy should have a strong presentation with both words and photos highlighting the attributes that set your home apart from other homes on the market. The most powerful tool will be exposure to real estate brokers, listing your home on the multiple listing service (MLS) provides this huge benefit by exposing your property to hundreds of brokers not to mention buyers who search the MLS on the internet. Other internet tools such as Craigslist, Facebook, Trulia, Zillow, Listhub, REALTOR.com® are just a small part of the internet arsenal available to your broker to market your home.
While the market remains daunting for those who wish to move on and get their home sold, there are buyers out there for your home. Plenty of buyers prefer not deal with the headaches and heartbreaks associated with the distressed sales. So prepare well, spring is here, interest rates are still low, buyers sense that this is a great opportunity to buy that will not last forever. We will get your home sold.
So what will it take for you to sell your home in this environment?
First realize that the prices fetched in the 2005 -2008 market will not be returning anytime soon. Take realistic look at what homes have sold for in your neighborhood recently. In most cases price is a primary motivator in the purchase of a home, having the correct price when you first appear on the market is critical to selling in a timely manner.
Appearance matters before you go to market make sure your home is at its best. Take the buyers view of your home; is it attractive from the street? When you walk in to the home is clean and uncluttered? Does the aroma from your pets dominate the olfactory senses when you walk through the door? Light and bright, clean and uncluttered is best, fresh flowers and scents are a plus when showing your home. Complete any minor repairs or other projects that have not yet been tackled. Do not forget your yard!! Curb appeal draws people in, if your driveway is cluttered people will expect the same for the interior.
Other influences will affect the sale of your home such as location, amenities, size and layout of the home. In most cases you as the seller have little control over these factors, so it is best not to stress about what you cannot change. Better to focus on what you can influence.
Now that the home is ready it’s time to get the word out!! The first month of your home being on the market is the most critical. Your marketing strategy should have a strong presentation with both words and photos highlighting the attributes that set your home apart from other homes on the market. The most powerful tool will be exposure to real estate brokers, listing your home on the multiple listing service (MLS) provides this huge benefit by exposing your property to hundreds of brokers not to mention buyers who search the MLS on the internet. Other internet tools such as Craigslist, Facebook, Trulia, Zillow, Listhub, REALTOR.com® are just a small part of the internet arsenal available to your broker to market your home.
While the market remains daunting for those who wish to move on and get their home sold, there are buyers out there for your home. Plenty of buyers prefer not deal with the headaches and heartbreaks associated with the distressed sales. So prepare well, spring is here, interest rates are still low, buyers sense that this is a great opportunity to buy that will not last forever. We will get your home sold.
Subscribe to:
Posts (Atom)
