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CENTRAL OREGON MARKET REPORT - MAY 15, 2024

Coming Soon!

148957 Mabel Drive 

La Pine, OR 🏡 97739 - $520,000

Don't miss this turn-key property and easy living in the woods! The covered front porch provides a great appeal and offers nice space for enjoying leisurely moments. Step inside and discover a spacious great room with high ceilings, perfect for unwinding or hosting gatherings. The kitchen is open concept and spacious, featuring a sizable island and ample counter space to accommodate all your culinary endeavors. Enjoy the separation of the primary bedroom from the other two rooms, for added privacy. With the garage conveniently connecting to the laundry room and backyard, access is easy for storage or getting to your car in the Winter months. Outside, the back patio beckons for summer grilling, while the greenhouse and garden beds await your green thumb. Enjoy the fenced backyard, complete with a lush lawn and easy maintenance. The lot is thoughtfully designed for simplicity, free of brush and requires minimal upkeep.

 
 

Mortgage rates still seem to be dictating our market .The Federal Reserve is closely monitoring economic data, particularly in the job market before making any changes to the current rates. While some challenges have emerged, there are signs of cautious optimism. Rumor has it that mortgage rates may dip in late summer or early fall, potentially influencing buyer behavior and market dynamics, but again this is still speculative. Rates won't be coming down until the economy is hurting a bit more.

Deschutes County is showing positive trends in market activity over the past month. We're witnessing an uptick in new listings, pending transactions, and closed sales, indicating a robust Spring market. However, there's a slight discrepancy between the increasing listings and the pace of transactions, suggesting that Buyer activity has not been keeping up (probably due to rates).

Bend buyer activity remains most active in the $550,000 to $600,000 range for break in homes as well as the $1 million price ranges that seems to stay afloat with inbound markets moving to Bend. We will see how things progress over the next few weeks as we head full speed into the "busy" season! - Greg

 

What's new with Mortgage Rates?

This is a scenario for top tier borrowers with 20% down and great credit. These rates could be improved by using seller credits! Unsure what that means? Shoot me a message!

 

Foreclosure Numbers Are Nothing Like the 2008 Crash

Worried about another foreclosure crisis? See why today's numbers show we're far from a repeat of 2008.


 

Market Snapshot


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