Now is the time to buy a new home in Bend Oregon. The prices of homes in Central Oregon have been going up in value steadily over the past several years. The Multiple Listing Service of Central Oregon reports that home values have almost doubled in the past four years.
Country values have been booming for the last five years. Now the market is in a slow down and being flooded with inventory. Homes are taking longer to sell and builders are being forced to lower their prices.
New home developers and builders were able to sell homes in the past few years before they broke ground. They have been waiting in the wings to buy these homes as soon as they were finished and the builders priced the homes. The buyers chose their finish materials and waited for construction to be finished.
The winter of 2006 is the best time to buy a new home in Bend Oregon. The National Association of Realtors reported "In 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 that a year earlier." From a year earlier. "
One developer / builder in Bend recently lowered prices $ 20,000 across the board on all of his homes. He now has eight homes sitting finished. It is also including central air conditioning, upgraded tile counter tops, a refrigerator and backyard landscaping. These free upgrades and lower prices were not available last year.
Bend is starting to look like a candy store for home buyers. The new home market wants to show some of the best buys because builders have to sell. They can not afford to sit on millions of dollars of inventory.
This is the process of increasing the costs of a developer / builder. Builders are thus starting to pay closing costs for a buyer which is given today's buyers a better value yet.
Developers are usually working on a lot to get them through the winter. One builder has lowered his home price to $ 50,000. He has several homes finished and sitting vacant.
This "buyer's market" will not last for long though. Interest rates are still around 6.25 percent and the Federal Reserve just held tight with no interest increase. So interest rates should stay low over the winter.
Gasoline prices are just coming down from the Bend Bulletin, Central Oregon's local news paper that "Deschutes County's jobless rate sinks to 3.7 percent." Bend continues to grow. There are good jobs available and people continue to move to Bend.
Bend is one of the most desirable places to live in the United States. If you live in Bend you can drive 30 minutes in 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's said that Bend's local ski mountain, Mount Bachelor has some of the best powder in the Northwest. Golf magazines thus report that Bend is one of the best golf communities in the West. Golf is available for golfers of any budget from public courses to luxury private courses.
The Deschutes River runs through the middle of Bend. It is a nationally famous trout stream and so has Steelhead and Salmon runs in its lower reaches. Because Bend is looking for a great place to live there.
Local Realtors look for prices to stabilize and start back up next spring. David Lereah, the chief economist for the National Association of Realtors said, "When consumers recognize that home sales are stabilizing, we'll see the buyers who want to get back into the market and sales
The next few months will be the best time to buy a new home in Bend Oregon.
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Source by Jimmy D Johnson