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Central Oregon Market Report - May 11, 2022


New Listing This Friday! You get the first look and opportunity to beat this one to the market! A peaceful and private property tucked away in Deschutes River Woods. Large lot with plenty of space for RV storage, toys, shop ect. Great use of outdoor space to enjoy the beautiful landscape. Easy, single level layout with several great features. Contact me direct for more info or pictures. Listing goes live this Friday.



 

Weekly Update!

The topic of conversation amongst agents and lenders this week is all focused around rising interest rates. The Fed is acting aggressively to curb inflation and in turn mortgage interest rates are predicted to rise steadily over the next year. I wouldn't be surprised to see them reach 7% by years end! Buyers are in a predicament as they see their buying power wane and prices hold strong. Depending on your financial situation, it may be beneficial to stretch now and lock in a home before you get priced out of your desired areas. Buying a home allows you to stabilize what’s typically your biggest monthly expense (housing) and protects you from inflation. Check out the chart below to put prices into perspective and plan for a long term investment. I have noticed a few price drops this last week and an uptick in days on market, indicating that things could be cooling off a bit. Prices may flatten out soon, but I don't believe they will be going down until the weight of interest rates stack on more. Things may begin to balance out, but we are still in a Seller's market. -Greg


 



How Homeownership Can Help Shield You from Inflation If you’ve been thinking about purchasing a home this year, you’re probably wondering if you should continue down that path or if it makes more sense to wait. While the answer depends on your situation, here’s how homeownership can help you combat the rising costs that come with inflation. Full Article


It’s Not Too Late to Join the Short-Term Rental Investing Game Short-term rental investing, otherwise known as Airbnb or VRBO hosting, has been one of the hottest strategies for real estate investors over the last several years—and with good reason. It has a lot to offer. Full Article

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