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CENTRAL OREGON MARKET REPORT - OCTOBER 5, 2023

COMING SOON! - Beautiful Duplex in Redmond

1549-1551 SW Kalama Ave, Redmond OR - $730,000

This property is not yet listed, which means you have the first look at a clean, income producing property in a highly desirable area of Redmond. One unit will be furnished and available at closing as a medium term rental or owner occupy opportunity (house-hack and offset your mortgage with rents from the other side). For more details, pictures and numbers, give me a call today!

 
 

Buyer demand has continued to pump the brakes with higher rates in the headlines. Sellers are entering the season where they need to decide on weather they list now or hold off until Spring. October seems to be when things take a noticeable turn towards the "off season" in real estate. I hear it in conversation with clients and co-workers on a regular basis. While this may be true from a sales volume standpoint, I can tell you that there is still plenty opportunity in the Fall. Less people engaged in the market, means less competition and that gives you leverage. For those looking to make something happen, there is great opportunity this time of year. When the leaves start changing color and Winter is just around the corner, the motivated come out and I've seen incredible deals put together just before the first snow starts flying. If making a move has been on your mind, give me a ring to see what opportunities I have coming up both on and off-market! - Greg

 

Mortgage Rates Update

Current average for mortgage rates. Remember that there are always strategies to buy down your rate with seller credits or shop loan programs for better rates. Oregon Veterans for example may qualify for the ODVA loan option, currently at 6.000% (6.022% APR). Oregon Bond, for example, with the CashAdvantage rate at 6.500% (6.701% APR). 2-1 Buy downs can take off 2% from your loan year one and 1% from your loan year 2! Let me know if you'd like a no obligation connection with one of my preferred lenders.

 

Advice for Buying or Selling a Home in 2023 and Beyond

With stubbornly high home prices, many homebuyers understandably feel priced out of the current market. But it;s important to know that patience doesn’t always pay off.


Home Prices Are Not Falling

“Home prices aren’t falling anymore. . . The surprisingly quick recovery suggests that the residential real-estate downturn is turning out to be shorter and shallower than many housing economists expected'


 

Market Snapshot


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