Over the last few months, real estate in Central Oregon has dipped and rebounded with the changes in rates. It seems to still be balancing out and has been feeling even stagnant at times, but I do not think it will last long. In the past weeks, Buyer demand has picked up quickly and consumers have now come to terms with the reality of rates. The end of May is typically when our market takes off and Buyers start shopping. All external factors aside, I believe we will continue to see a big push this Spring/Summer.
Sellers should still feel optimistic as they prepare for their marketing, but should also be very tuned into what the market is doing on a weekly basis. Buyers have become more picky and an overpriced and under-marketed listing will cost you overtime. Buyers should stay up to speed on just listed properties so that they can stay in the race and compete on listings that bring the best value. It's also a good idea to explore listings that have been sitting on the market, to perhaps test the Seller's motivation and negotiate a better price. The biggest advantage someone shopping can have right now is working with a networked Realtor. Getting the heads up on coming soon listings and off-market opportunities can be a huge advantage in a competitive market. Let me know if I can share some extra opportunities with you! - Greg
Mortgage Rates Update
The below rates are ranges of what to expect, but these numbers may vary based on your criteria and qualifying information. Let me know if you'd like to connect with a preferred lender.
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Market Snapshot
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