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CENTRAL OREGON MARKET REPORT - JANUARY 3, 2024



New Listing Downtown Bend!

550 NW Franklin Avenue UNIT 548 - Bend, OR

The Franklin Crossing building in downtown Bend! This spacious 1-bedroom, 1-bathroom condominium spans an impressive 1,197 square feet on the top floor, offering an unrivaled panorama of the city-scape. Featuring a generously sized primary suite with a walk-in closet and open living room with plenty of windows to take in the views. Situated mere moments away from the scenic Drake Park, this home offers not only the allure of nature but also the convenience of being in close proximity to all downtown amenities.


 
 

Buyer activity has picked back up a bit as the holiday has passed and recent headlines are showing relief in interest rates. Nobody knows for sure what the rest of the year will look like for rates, but the Fed has mentioned making improvements in the future and this has reset home buyer's outlook on the market. So what should a potential Buyer consider now? Most will come to the conclusion that they should wait it out and get in with a better rate towards the end of the year, but I'm not sure I'd agree with that. Our local market acts differently than the nationwide market and is currently favoring Buyers much more than it has in the past few years. This could be a great opportunity to beat others to the market and negotiate a good deal. Come Spring/Summer, lower rates could cause an influx of Buyers and we may be reminded just how frenzied and tight our market usually is. Inventory will go down and competition/prices will go up. When working with my active buyer clients, I'd much rather see them refinancing their new home come Summer and watching others stress while they settle in. Let me know if you'd like to discuss. -Greg

 



Thinking About Buying a Home? Ask Yourself These Questions

Here are the top two questions you need to ask yourself as you make your decision, including the data that helps cut through the noise.



 

What's new with Mortgage Rates?

This is a scenario for top tier borrowers with 20% down and great credit. These rates and better can also be seen for other borrowers by using seller credits!



Market Snapshot

Month of December coming soon.






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