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CENTRAL OREGON MARKET REPORT - AUGUST 2, 2023

Sneak Peak! Coming soon in Bend!

63371 NW Britta Street - Bend - $770,000

Discover modern luxury in this 2021 single-level home, nestled in NW Bend, OR. This 3-bedroom, 2-bath property features an abundance of natural light, an office, vaulted ceilings, and 8' solid core doors, imparting an airy, spacious feel. The kitchen is a culinary enthusiast's dream, complete with upgraded appliances, a pantry, and an integrated custom white oak island table. Retreat to the primary suite's bathroom, which exudes serenity with its cedar feature wall, backlit mirrors, and floating cabinets. A cozy fireplace with a Roman Clay surround and an under-counter drink fridge add to the home's comfortable amenities. Enjoy the benefits of an oversized, heated 2-car garage (20x29) with an epoxy-coated floor and a hot/cold water hose bib. Natural gas piping to the back porch and a ceiling heater in the covered area allow for year-round outdoor enjoyment.

 

The home is rented ($3200 per month tenant pays utilities), the lease expires on 10/14/23 and the tenant would love the option to stay on after the lease expires on a month-to-month basis. Photos are from when the owners were in the home, but updated photos will be added soon.

 
 

This past two weeks has seen a dramatic slowdown in momentum within our marketplace. I'm noticing several price reductions and listings are becoming harder to sell. An increase in interest rates has created buyer lag and hesitancy, as the numbers for tradeoffs make less sense. On the flip side, cash buyers or those using large equity rollover are able to have less competition. Also, those looking for homes, who don't have a home to sell are offered up much more inventory and eager sellers to negotiate with. I do think that Fall can be a great time to shop and identify deals. For Sellers, the "selling season" will start wrapping up soon an most people don't prefer moving in the Winter. This year has been one of the fastest moving markets I've ever seen and incredibly interesting to navigate. If you're curious how you should approach this ever-changing market, give me a ring so I can help! All the best. - Greg

 

Mortgage Rates Update

 

Pricing Your House Right Still Matters Today

While this isn’t the frenzied market we saw during the ‘unicorn’ years, homes that are priced right are still selling quickly and seeing multiple offers right now. That’s because the number of homes for sale is still so low.


 

Market Snapshot


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