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CENTRAL OREGON MARKET REPORT - MARCH 29, 2023


Small Estate in Prineville w/ Multi-Generational Living

$924,900

 

Gorgeous custom home nestled on 2 acres in the heart of Central Oregon w/multi-generational living or private guest accommodation + HUGE shop. Covered front porch leads to an open tiled entry & formal dining area w/built-in wet bar. Open concept great room plan with hardwood floors, floor-ceiling stone propane fireplace w/mantle, vaulted ceilings, & an abundance of natural light.

 

Hot tub, firepit, fully xeroscaped backyard. Main house is 3 bed 2.5 bath. 2 apts are 1bed/1bath; 400sf each. 3 bay shop w/RV height doors, covered entry, 36x36 floorspace, hidden wine cellar in shop closet. Gated community!


 
 

I get the feeling that our market here in Bend has begun to rebound and show hope for a lively Spring. While interest rates are rising, there is still a shortage of housing inventory to keep up with demand, particularly in more desirable areas and price points. This can help support home prices even as interest rates increase.

It's also worth noting that while interest rates have risen in recent months, they are still historically low compared to previous decades. This means that while some buyers may be priced out of the market due to higher rates, there will still be many who can afford to buy homes and will continue shopping. In our market, a large portion of that demographic tends to be made up up out of area buyers, moving from more expensive metros and getting a great trade off.

The Buyers winning in this market are working closely with a savvy Lender and Realtor to interpret the local market conditions and understand what strategies will help put them in a leveraged position against their competition. If you're considering shopping, there's no need to go at it alone. Give me a ring!

    - Greg


 

Mortgage Rates Update

The national average interest rate still bounces around the mid 6% range for qualified Buyers!

 

Could a Multigenerational Home Be the Right Fit for You?

Whether your motives are financial or focused on the people you’ll share your home with, a multigenerational home has distinct advantages.



What the Federal Reserve’s 25 basis point interest rate hike means for your money

 A wide range of consumer finances from mortgages and credit cards to student loans, auto loans and savings will be affected by the rate increase.



 

Market Snapshot




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