Bend Oregon Real Estate

 Realtors and Builders in Bend Oregon are pushing “The Best Buyer’s Market in 20 Years” advertising program.  They are not saying it’s time for everyone to buy but that in certain circumstances it is a good time to buy.

I don’t personally agree with all of their reasons to buy but there are still plenty.  The two houses I have in escrow right now ($400,00-$650,000) are both buyers that are moving to Bend from out of town.  They plan on living in Bend the rest of their lives.  They are not investors trying to flip a property.  They plan on living in the home for a long while.

Will the value of the homes they are buying continue down in price this summer and winter?  Probably.  Will their home be worth more than they paid for them in 2 year.  Maybe.  Will their homes be worth more than they paid in 5 years.  Yes.

Their only alternative would be to rent.  They could move into a rental and wait for the bottom of this down turn and then buy.  When will that be?  No one knows.  Could it be this summer?  Maybe.  Could it be next spring probably.  These people are not renters.  they are home owners.

To put their families through moving twice and not being able to live in their own homes they have wisely chosen to buy homes at a great value and get exactly what they want at a great interest rate below 6%.

If you currently live in a smaller home in Bend and are thinking of moving into a more expensive home I would recommend you wait until the Bend Oregon Real Estate Market has for sure bottomed out.  If your home is worth $400,000 in today’s market and the home you want to buy is going for $750,000 you are better off to wait. 

If the market goes down another 10% this time next year you will save money.  The home you own would go down $40,000 but the home you want to buy will go down $75,000!!  Wait and make $35,000!

 On the other hand.  If you live in a large home and you are looking to down size.  You should sell your home now then you will not lose that $75,000 if prices continue.