Check out this latest news! According to the Bratton report this month, median sales prices have increased approximately 4% annually since 1997 until now. Despite the ups and downs in the market over the past few years, the average median sales price has continued to rise. We are now looking at a healthy and growing market!
Windermere’s commitment to serving our communities goes beyond providing the best in real estate services. Since 1989, through our Windermere Foundation, we’ve also reached out to help address the challenges faced by homeless and low-income families.
Windermere agents, owners and staff organize Foundation fundraisers and give through payroll deduction. Contributions are also made by salaried employees and managers, as well as by the public.
We are excited to share with you that the Windermere Foundation has received $521,000 in donations this year; this represents a 16 percent increase from this time last year! Thanks to our generous agents, brokers, staff, and owners, along with public donations, many low-income families have received the support they need to stay in their homes and meet their childrens’s most basic needs.
This year, on June 15th, Windermere Central Oregon Real Estate participated in our annual Community Service Day. The Bend and Redmond offices were closed to volunteer time. Bend employees painted the Bend Community Center and Redmond employees held a garage sale to benefit the Family Access Network.
Well, we have been at the top and the bottom several times. It would be nice if we could have a gradual comeback, 2-4% per year appreciation like in the old days (prior to 2004). It certainly is a good time to buy and hold. If you are an investor, rents are up and vacancies are down. Some of our clients this year purchased for their future retirement and are renting until then. It is also a great first time home buyer environment, with low interest rates and a plethora of loan programs. Let us know if we can help and don’t miss the ride.
Annualized growth from 2011 – 2016:
Home prices in Bend are 45.2% off their peak in Q1 2007, which could make it good time to invest. Bend’s median family income is close to the national average of $61,600, but unemployment is high at 12.6%.
When selling a home, the thought was always “location, location, location’. As the market changes so has the focus- lifestyle options are now a priority for buyers and how the surrounding community can affect their decision to buy or not to buy.
Often sellers focus predominantly on their home and the upgrades and amenities. While those features are very important, remember that practically any home can be remodeled. If you’re in an excellent location with easy freeway access, on a low traffic street in a friendly neighborhood, surrounded by retail stores and hot dining spots, it’s time to play it up. Those features aren’t always easy to find.
Of course, here in Bend it’s a quick drive to so many amazing things it’s no wonder we see Bend listed as the 2nd best housing market for the next 5 years!
With interest rates at historic lows and home prices headed down as well, now is the BEST time to buy in Bend!
The Best Housing Markets For The Next 5 Years
#2 Bend, Oregon
The time to buy in Bend is now. The market is projected to trough in Q3 before several years of accelerating growth. Home prices are down over 42% from peak.