Take a look at this excellent article showing the Top 10 Markets to recover the most by 2014. Bend, Oregon is #2!!! Hard to imagine given how far we have fallen (and continue to fall) but the moral of the story is that the bottom is near and we WILL come back and we will come back stong and fast! Bend and Central Oregon will always be a destination for folks who love the outdoors and who want a better life for themselves and their children.
http://realestate.yahoo.com/promo/housing-markets-that-will-be-strongest-by-2014
Combine this with great mortgage rates and there is truly no better time to buy in Bend! Let's make it happen!
Things continue to move in Bend at a fairly steady pace. It is interesting to see listings vs. sales as well as to note how many are short sales vs. bank-owned vs. regular sales. My general feeling is that IF the seller can stomach the decrease in price/value of their home and can price it appropriately, it will sell.
Here are some stats to chew on:
In Central Oregon, residential listings currently on the market:
1445 REGULAR listings (no short sales/BOs) (66%)
576 Short Sales (27%)
152 Bank-Owned (7%)
In Central Oregon - SOLD in June:
141 regular (49%)
62 short sales (22%)
85 bank owned (30%)
In BEND currently on the market:
530 regular listings (58%)
312 Short Sales (34%)
76 Bank Owned (8%)
In Bend Sold in June:
77 regular listings (53%)
29 short sales (20%)
40 bank owned (27%)
Bend Values June 2010:
226 Listed at average price of $317,192
146 Sold at average price of $274,067
6.3 months of inventory (so low!) Are the banks holding out on listing tons of properties? Will our market be flooded with bank owned properties soon??
As compared with months past these stats are very similar to what has been happening in Bend since January. No major dropsor increases in sales, prices, etc. Let me know if you want to see month-over-month data!
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