Central Oregon Real Estate | Broker Thesa Chambers, Licensed in Oregon

Buyers and sellers are both watching the real estate market - we all wish we had a crystal ball to see where the future lays. The best we can do is look at the past - and find the pattern. With the end of September we ended our 3rd quarter of this year.

Because it always takes a little time for all te sales to be entered the 3rd quarter stats lag a little behind. They are now available for all of Central Oregon and to make it easy for you - there is a link at the bottom of this article which provides all the areas and types of listings in Central Oregon.

There are two areas in residential sales that seem to be doing better than others - the first is Sisters Oregon. The second is Three Rivers South - however some of the sales of Caldera Springs does have an impact on this.

Third Quarter Stats for Central Oregon

As we have stated in the past the number of sales, the types of sales and the prices make no sense in the market today. We are seeing for example a manufactured home sell for $230,000 or there abouts and right down the street is a newer, same size frame built home at the same price that does not sell, nor is it even shown. Why? This is a question a lot of us are asking.

So I broke down - I got a flip video - and today before leaving for a quick vacation I was able to capture some great deer along the way - what a fantastic toy - I took 3 or 4 videos, edited them, put them together and the outcome for a first timer I think is pretty good.

Central Oregon is full of great treasures - and these are just a few of them.

More than once in recent weeks I have heard of a disappointed buyer.

Although our buyers are far and few between there are some great loan programs still available. One of them is the ODVA loan (Oregon Veterans Loan).

This program allows for almost 100% financing for the Oregon Veteran - Great News uh?

Well, maybe... you see these buyers get qualified, they shop, they find the perfect home then the problem arises.

Although the program allows close to 100% financing it still requires mortgage insurance. The mortgage insurance companies are not fond insuring the 100% or the pruchase price - and so there goes the almost 100% financing.

Now before I get hate mail - I know there are exceptions to every rule, and every situation is different. My point is not to tell you it is not possible - it is to say, all parties need to evaluate where things are and what is possible.

Be prepared to need to have at least 5% down the same can happen with an FHA with the 3% (going to 3.5% the first of the year) down payment an FHA loan requires. If you, the buyer comes to the transaction prepared you will not be disappointed.

I got a call from a seller that told me they were disappointed with the agent they had hired. The agent has since gone on to other pastures, and the seller is looking for another REALTOR® to market their home.

Disappointment – according to Wikipedia – the definition of disappointment is – the feeling of dissatisfaction that follows the failure of expectations to manifest. Similar to regret, it differs in that the individual feeling regret focuses primarily on personal choices contributing to a poor outcome…

You claim you are disappointed with the results that your agent has produced. Your home has not sold and yet your REALTOR® has advertised it, marketed it and been in touch with you on a regular basis. Your complaint seems to be all about what you think the real estate professional did wrong.

Part of the definition of disappointment is REGRET

I bet your agent has a few regrets – and to save you the disappointment please take a look at this list of regrets I would have had if I were your agent – if you think your previous agent has any of these regrets fix them before hiring another REALTOR®

• Your home was not ready for photos at the time of the listing
• Your home was priced $50,000 higher than a nicer home just down the street
• Your agent told you your price was too high the day you listed your property
• Your home was never in show condition
• You often argued with the Professional you hired about the listing price of your home
• Your yard was full of old cars and debris
• You broke appointments to have interior photos taken
• You complained that there were not enough photos but never readied your home for them
• You did not clean up after your animals
• The ONE showing you did get – you never let the buyers see the home – you followed them around and made them uncomfortable

So you think you are disappointed – I am certain your REALTOR® is regretful – and with that said – I don’t think I would like to take your listing, thank you for your call. I only work with motivated sellers, seller’s that want to be part of a wining team.

Selling your home in the current market and financial environment takes more than a great price it takes teamwork, readiness and patience.

Seller's do you feel out of focus, do not know which end is up? Central Oregon Real Estate has been a mystery for a while now.

I do not profess to give you all the answers. I do not know them - I do know that the real estate market in Central Oregon is tough.

August saw a few sales - La Pine had 10 residential sales - 4 of which were bank owned properties.

Three Rivers South - they too had 10 residential sales in August - 2 bank owned and 3 in resorts.

Sunriver August Residential sales were the same magic number 10.

In past markets you could take a look at the homes that sold and explain to your seller why their home did not sell. In today's market that is impossible.

What Did These Properties Have That You Did Not;

• Pricing - maybe, a few of these homes were bank owned 6 to be exact and yes they sold for a lower price than an owner occupant or investment property might be listed. The bank needs to liquidate their properties so they can list for a price much lower than the average seller. The homes that sold that were not bank owned were not short sales, they were not priced any better than some of the other listings. One of the sales seriously sold for $100,000 less than it was listed for. There were manufactured homes that sold for the same price as frame built homes. There were sales in areas where there were bigger and maybe better properties right down the street that did not even get seen. It makes no sense.
• Location - nope that has nothing to do with it either - homes that sold were scattered in area. Some of them in great locations but not all of them. Location did not seem to have much difference in why an offer was or was not written or why a home was shown or not shown.

From looking at these sales it is my personal opinion that these sellers got lucky and with so much inventory on the market the buyer stopped when they found the home that would work - the price was right for them, the location was right and the home was right. Does that mean yours was not? NO it simply means that there is too much to choose from and not enough buyers choosing.

This is not to say that some homes are not over priced or that the clutter of 40 years is not stopping the buyer. These items do have an impact on home sales in Central Oregon. If you are priced right, and have made your home the cream of the crop - easy to show and have not seen the offer - be patient 30 homes are no longer competing with you.