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Central Oregon Market Report - JANUARY 4, 2022



Coming Soon Classic home in Bend with extra potential! 20309 Shetland Loop - Bend, OR I'll have this one hitting the market later this week. Great location, just north of downtown but tucked away in a quiet, low traffic neighborhood. 2 level home with all 3 rooms upstairs and a beautiful open layout on the main level. Spacious kitchen, peninsula fireplace and large living room. Fully fenced yard for the pups and plenty of space to enjoy the South facing sunshine while gardening, BBQing and hosting friends. *Plus - A conversion of the garage into 2 more fully finished rooms, allowing for multi-generational living, home office, gym or income potential. This is a great opportunity at a great price, so you won't want to miss out. Call me today for more details or pictures!



 

Happy New Year everyone! 2023 is here and the Real Estate market continues to normalize. Sales volume overall has dropped quickly since last Summer and inventory has filled in, so supply and demand has shifted. We are seeing longer days on market for sellers (avg. 49 days) as well as negotiations taking place, dropping our avg. listing price to sales price ratio down to 92.9%. This shows that the playing field between Buyers and Sellers is shifting and we will continue to see it move up and down until rates and prices find a good balance. Speaking of rates, keep in mind that this is the biggest driver of our price fluctuation. I know that you've seen your fair share of doom and gloom in the media, but don't get wrapped up in it! We witnessed the biggest weekly mortgage-rate drop in 40 years in November. Not much news on that... There is always huge opportunity in shifting markets. I check in with my preferred lenders often to keep my finger on the pulse, and many sources right now do suggest that rates could come down over the next year and provide some relief. This will of course keep prices strong and the market moving forward. If you are a Buyer in this market I highly suggest strategies like a delayed rate buy down to make your payments affordable upfront and utilize your extra credits towards a refinance once/if the rates drop again. Now might be a great time for Buyers to negotiate a good deal and have the sellers put credit towards their purchasing power. - Greg


 

Mortgage Rates Update Based off a 5% down payment, 770 credit score and low debt-to-income




 

Wondering How Much You Need To Save for a Down Payment? If you’re getting ready to buy your first home, you’re likely focused on saving up for everything that purchase involves. Don’t let a common misconception about how much you need to save make the process harder than it could be. Full Article


Latest mortgage news: Rates pull back amid economic uncertainty After a steep run-up for most of 2022, mortgage rates have zig-zagged in recent weeks. They topped 7 percent in November before reversing course. Full Article



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