Posts with tag 'Central Oregon Real Estate'
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16
The Benefits of Using Your Equity To Make a Bigger Down Payment
Did you know? Homeowners are often able to put more money down when they buy their next home. That's because, once they sell, they can use the equity they have in their current house toward their next down payment. And it's why as home equity reaches a new height, the median down payment has too.
According to the latest data from Redfin, the typical down payment for U.S. homebuyers is $67,500—that's nearly 15% more than last year, and the highest on record (see graph below):
11
Central Oregon Real Estate Market Trends - Third Quarter 2024
Is Central Oregon Real Estate Moving to a Balanced Market?
In Q3 2024, the Bend Oregon Real Estate market and surrounding communities experienced a change, moving closer to a balanced market after many years of being a seller's market. The number of listings grew, days on market increased, but prices appear to have leveled off, at least within Bend and Redmond. In Bend, Redmond, Powell Butte and Black Butte Ranch, the number of sold homes increased as third quarter 2024 also saw mortgage interest rates drop. Outside of Redmond and Sunriver, all of the Central Oregon real estate markets saw an increase in new listings year over year, many above 20%. This can partly be attributed to sellers recognizing that with lower mortgage interest rates, the cost of their replacement property would be less and the delayed move they planned on taking could finally happen.
17
Mortgage Rates Drop to Lowest Level in over a Year and a Half
Mortgage rates have hit their lowest point in over a year and a half. And that's big news if you've been sitting on the homebuying sidelines waiting for this moment.
Even a small decline in rates could help you get a better monthly payment than you would expect on your next home. And the drop that's happened recently isn't small. As Sam Khater, Chief Economist at Freddie Mac, says:
"Mortgage rates have fallen more than half a percent . . . and are at their lowest level since February 2023."
But if you want to see it to really believe it, here's how the math shakes out. Take a closer look at the impact on your monthly payment.
12
The Real Story Behind What's Happening with Home Prices
If you're wondering what's going on with Bend home prices lately, you're definitely not the only one. With so much information out there, it can be hard to figure out your next move.
As a buyer, you might be worried about paying more than you should. And if you're thinking of selling, you might be concerned about not getting the price you're aiming for.
So, here's a quick breakdown to help clear things up and show you what's really happening with prices—whether you're thinking about buying or selling.
Home Price Growth Is Slowing, but Prices Aren't Falling Nationally
Throughout the country,...
1
Prineville Oregon Real Estate | 1st Half 2024 Market Trends
Prineville Home Sales Mixed
The Prineville Oregon real estate market appears to be showing good sales the first half of 2024. While home prices are up year over year, it is at what is considered a normal healthy market increase. New listings are up, but so are sold and pending homes. Days on market are down and inventory levels are reflecting a strong buyer's market. It appears that people are moving to Prineville and there is demand for active listings in the market.When the first half of 2024 is compared with the first half of 2023, the following changes for Prineville real e...
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