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Central Oregon Market Report - February 22, 2022



4752 SW Umatilla Avenue - Redmond, OR Single level home, 5 bedroom/2.5 bath spacious rooms with vaulted ceilings. Open concept kitchen with stainless steel appliances, breakfast bar, and gas stove top. Backyard patio is perfect for entertaining. Including hot tub, gazebo, solar panels, and lava rock firepit. The neighborhood has beautiful mountain views of the Cascades. This house is a must see! Call now for more information of a private tour.



Last week, purchases fell about 18% and are now down 41% year over year. Interest rates on 30-year fixed have increased from averages around the mid 6% range last week to many lenders pricing near or over 7% again. Inventory continues to stay consistent and will most likely fill in more during the Spring months, so we should have more opportunities coming soon. Lately, I've seen new construction becoming much more competitive with their pricing and seller credits to continue moving their inventory. I assume they are feeling the squeeze with our market shift and doing everything they can to entice new buyer activity and keep their momentum. Prices on average have flattened out in Bend and it's hard to tell which direction things will go in the coming months, but one thing we know for sure is that their is still pent up demand for our area and our market continues to grow. - Greg


 

Mortgage Rates Update Based off 25% down payment, 797 FICO, low debt-to-income ratios


 

Maximize Your Tax Savings With These 3 Alternatives To Selling Your Investment Property There are a few key things to consider when selling an investment property and a few alternatives that can help maximize your tax savings.  Full Article



Hoodoo Ski Resort - Night Skiing The only ski area in Central Oregon that offers night skiing and riding. Come ride under the stars from 3:30-9pm Thursday through Saturday during the winter season.  More Info

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