This is the time to buy a fresh home in Bend Oregon. The prices of homes in Central Oregon have been increasing in value steadily during the last a long period. The Multiple Listing Service of Central Oregon reports that home values have almost doubled in the past four years.
Land values have already been going up and new construction has become booming during the last 5yrs. Now the marketplace is within a slow down which is being flooded with inventory. Homes are taking longer to offer and builders are forced to lower their prices.
Brand new home developers and builders had the ability to sell homes in the past several years before they broke ground. That they had buyers waiting in the wings to get these homes once the lots were developed and the builder priced the homes. The buyers chose their finish materials and waited for construction to get finished.
The wintertime of 2006 will be the optimum time to first-time home buyers help. The National Association of Realtors reported “Within the West, existing-home sales declined 3.1 percent to an annual pace of 1.25 million in September, and were 23.8 percent lower which a year earlier. The median price from the West was $332,000, down 5.1 percent from the year earlier.”
One developer/builder in Bend recently lowered prices $20,000 all over the board on most of his homes. He has eight homes sitting finished. He or she is also including central air-conditioning, upgraded tile counters, a refrigerator and backyard landscaping. These free upgrades and minimize prices were not available just last year.
As new and used home sales still fall and inventories carry on and build Bend is beginning to look like a candy store for home buyers. The latest home market will demonstrate the best buys because builders ought to sell. They cannot afford to sit down on vast amounts of inventory.
Since we go deep into winter and the temperature starts to drop the temperature bills start to increase. This boosts the holding costs of your developer/builder. Builders will also be starting to pay closing costs to get a buyer which indirectly gives today’s buyers a better value yet.
Developers are usually large firms that can afford to promote a number of houses confused to get them throughout the winter. One builder has lowered his price tag of just one particular house to almost $50,000 lower that the same floor plan sitting vacant across the street. They have several homes finished and sitting vacant along with his interest payments continue and today winter heat bills will probably be adding to his holding costs.
This “buyer’s market” won’t go on for long though. Interest levels are still around 6.25 percent along with the Federal Reserve just held tight without interest increase. So interest rates should stay low within the winter.
Gasoline costs are falling and it also was only reported by the Bend Bulletin, Central Oregon’s local news paper that “Deschutes County jobless rate sinks To 3.7 percent.” Bend is growing. There are actually good jobs available and people consistently go on to Bend.
Bend is likewise probably the most desirable places to reside in the usa. If you are living in Bend you are able to drive half an hour west and become from the mountains with great fishing, hunting, hiking and biking. You can drive 30 minutes east and be in the high desert with spectacular mountain views and fresh clear air.
It is said that Bend’s local ski mountain, Mount Bachelor has among the best powder from the Northwest. Golf magazines also report that Bend is amongst the best golf communities inside the West. Golf is available for golfers associated with a budget from inexpensive public courses to luxury private courses.
The Deschutes River runs through the middle of Bend. This is a nationally famous trout stream and has Steelhead and Salmon runs in its lower reaches. Because Bend is certainly an excellent destination to live there will almost always be a demand for new homes.
Local Realtors try to find prices to stabilize and commence back next spring. David Lereah, the main economist for the National Association of Realtors said, “When consumers recognize that home sales are stabilizing, we’ll begin to see the buyers who’ve been around the sidelines get into the market, and sales will probably be at more normal levels inside the wake of the unsustainable boom that we say just last year.”