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CENTRAL OREGON MARKET REPORT - OCTOBER 11, 2023

Updated: May 20

Pick of the Week!

Tollgate, Sisters, OR - 69322 Hackamore

$640,000

Remodeled home in Tollgate. The backyard backs to National Forest Service land and is fenced, landscaped, with a patio and a storage shed that has a brand new deck. The Tollgate subdivision offers access to community amenities such as a pool, a clubhouse, pickleball & tennis courts, a playground, and miles of walking trails. Deschutes County & Tollgate subdivision allow STR (short term vacation rentals, VRBO, Airbnb). This home is immaculate and MOVE-IN ready.

 
 

Typically the Fall market is when we see listing inventory start to dwindle, as Sellers decide between pushing forward for a sale or waiting to re-list their home in the Spring. This typically happens between October/November once the colder weather hits our area. The biggest hurdle for buyers, of course still remains interest rates and finding creative solutions to making their payments manageable. I have seen a huge increase in creative financing and those with large equity rolling into a smaller home that they buy cash. Sellers still have options for making a move, but I do like to let them know that we are drifting away from the market we became accustomed to over the past 2 years. It is taking longer days on market to attract a motivated Buyer and it is more important than ever to stand out amongst your competition and work with a savvy listing agent. If you are considering a move, please reach out so that I can advise you on how to best play this market to your advantage! - Greg

 

Mortgage Rates Update

Rates have risen again this past week and are up by approx. ½% in the last 30 days in response to the stronger-than-anticipated jobs report from last Friday. Some scenerios are showing up to 8% again.

 

Rates for our top tier scenarios (760 credit score, 30% downpayment, primary residence purchase):30 year Conventional – 7.25%30 year FHA – 7.125%

 

3D Printing Homes

A Texas company — driven by a mission to create faster, better and more affordable housing — is 3D printing homes. It’s also working with NASA to 3D print on the Moon?

 

Are Grandparents Moving To Be Closer to Their Grandkids?

Now that the pandemic has passed, many grandparents want more than ever to be near their grandchildren again to make up for that lost time.


 

Market Snapshot


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