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CENTRAL OREGON MARKET REPORT - JUNE 21, 2023

Remodeled home on an acre in the woods!

16180 Lava Drive - LaPine - $510,000

This stunning property boasts vaulted ceilings, a cozy fireplace and a mini split heating and cooling system to keep you comfortable all year long. Nestled on 1.02 acres of picturesque beauty, you'll fall in love with the completely fenced, park-like setting complete w/ fire-pit and towering pines. The recently upgraded main level features new flooring throughout and a custom great room remodel, creating a seamless flow throughout. Master on main floor. Abundant natural light, upgraded fixtures and ceiling fans. With mature landscaping, an inviting covered front porch, and close proximity to the Deschutes River, mountains and trails, this is the perfect oasis to call home. Detached newly constructed shop is perfect for RV/ boat storage. The 3 storage sheds have room for all the toys! See attached features/ upgrades list. Call or text for a tour today!

 
 

The market was a bit delayed to kick off this year, but this past month has seen a flurry of activity. Prices have gone up and sales volume has increased, proving that the Central Oregon market is still alive and well. Homes that are correctly priced and well marketed are selling fast, while statistics show that approximately 30% of our inventory is needing to price adjust after their initial listing to stay competitive. This shows how important it is to know your current market and have a professional help you tune things in before going live. For Buyers, interest rates aside, this is a great time to shop for a new home. There is plenty of inventory to choose from, compared to the previous years and sellers are willing to negotiate credits to help with closing costs or buying down your interest rate. Overall we are seeing a healthier market and good opportunities all around. - Greg

 

Mortgage Rates Update

The average 30-year fixed rate for all lenders is 6.95%. Despite the interest rates we saw a jump in new contracts last week, many of which are using seller credits to reduce the monthly mortgage payment. 

 

Rent Growth is Negative For the First Time in Three Years—Is Your Cash Flow in Jeopardy?

Will there be a bigger correction or even a crash in rents? Or is it possible that rent growth will pick back up in the coming years?


Your Needs Matter More Than Today’s Mortgage Rates

while things like mortgage rates are a key part of your decision on what you’ll buy next, it’s important to not lose sight of the reason you want to make a change in the first place.


 

Market Snapshot


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