Bend Oregon Real Estate Expert is a new real estate company in Bend Oregon. Jim Johnson and his son Matt will officially open their new real estate office Friday October 31st. They were formally with Century 21 Gold County Realty. They specialize in the sale of quality homes and land.
The Associated Press reported that homes sales were up 43% from the same month last year but declined 9.6% from August’s total. The median price in the west was down 19% from a year ago. Las Vegas, Los Angeles, Phoenix and San Diego posted the sharpest spike in homes lase last month.
This may signal the coming of a bottom in the Bend Oregon real estate market. I predict we will hit the bottom next spring. After the elections and all of the negativity is over maybe our congress can get busy and bring this economy back to life. There’s a lot of cash on the sidelines right now and there’s money to be made in the real estate market.
There are a many great buys out there right now and it’s a good time to buy. There’s no hurry but you can certainly pick up some real bargains with a huge variety to choose from. Today’s bargains will look like steals in 5 years. Mortgage money is readily available around 6% interest.
It’s definitely a buyer’s market when it comes to Bend Oregon real estate. There are many good choices out there at great prices. Mortgage money is readily available at a low interest rate for those with good credit. I agree with Alan Greenspan and several other knowledgeable financial wizards in that the real estate market should bottom out next spring. Now is a great time to buy in Bend before the prices start back up.
Jim Johnson has been selling quality homes in
The news about the Bend Oregon real estate market is like a broken record. Our prices continue to fall and it’s becoming more and more a buyers paradise everyday. The median sales price of homes sold in Bend is now $276,000.
Closed sales were up last month over the previous month. But many of those homes were under $300,000. I attribute this to the fact that the 100% financing went away on October 1st. There was a little flurry of activity for that segment of the market. I predict numbers for October will be down even further.
The Bend Bulletin recently reported that the local RE/MAX Office will be closing it’s doors as of November 1st. During the recession of the early 80s the franchise companies were the first to go under because of their added overhead.
People are still moving to Bend Oregon and I look for the market to bottom out next spring or maybe summer. Between now and next summer is a great time to buy. There are some really good buys out there right now. Interest rates are great and there’s mortgage money available.
In March I stated that there “was not a real estate bubble in Bend.” Boy was I wrong! I had no idea that gas would go to $4.50 a gallon, the stock market would crash, we would have a credit crunch and there would be a world wide financial crisis. See Bend Oregon Bank Foreclosures
Well, the Bend Oregon real estate bubble has burst! There are more and more mortgage delinquencies every day and more bank foreclosures. Prices are down substantially and it’s a great time to buy. I’m predicting the market should bottom out next spring or summer in Bend.
Alan Greenspan told the Wall Street Journal the same thing about the national real estate market in general. We are already seeing out of state buyers moving to Bend because our prices are getting very reasonable now. 
It may be a little longer for your newer, lower end homes on small lots to bottom out. The developers and builders went a little crazy a few years ago and way over built these small lot homes. There are still blocks of these homes coming on the market as bank foreclosures. They make great rental investments.
What ever kind of real estate you are considering purchasing now through next summer is a good time to buy. There’s still plenty of mortgage money available around the 6% interest which is great!
Whether you are looking for a home to live in or to purchase income property, now is the time to start looking around. Some people are waiting for “the bottom”. Once we realize the bottom has been reached some of the best buys will be gone. If you buy Bend Oregon real estate now you are guaranteed to have a big smile in 5 years.
There are currently 47 Bank Owned Homes for sale in Bend Oregon through the Central Oregon Multiple listing service. During the recession of the early 80s there was millions of dollars made by smart individuals that bought bank owned homes. That opportunity is available today, 28 years later. There is a lot of money to be made right now!
We are helping our clients by setting them up on our New Listings Notification service. This program sends out e-mails as soon as a bank owned home is listed for sale. It allows our clients to pick up great buys in today’s market by being first and negotiating a good price.
There will be opportunities in the next 6 months or so that won’t come around for another quarter century. If you are interested in buying bank foreclosed homes you can sign up for our free service at New Listing Notification. I will help you find a great buy and negotiate a great price with the bank.
Bank foreclosures in Bend Oregon continue to rise. There are some great investments available for the astute buyer. We are helping our clients stay on top of foreclosures by setting them up with our new foreclosure listing notification service. As soon as a new repo hits the market our clients receive an e-mail notifying them of the new listing, address and all the details.
There are currently 47 Bank foreclosures for sale in Bend with more on the way. Notices of default which lead to more foreclosures are at 1,308 so far this year. That’s up from 590 over the same period last year. Foreclosed homes are readily available.
I moved to Bend in the recession of 1981 and saw lots of money being made by investors and home buyers buying bank foreclosed properties. Now is the time for smart buyers to start kicking some tires and picking up some good properties.
Mortgage money is readily available at good interest rates and there is a good variety of properties to choose from. I look for the market to bottom next year and the number of good buys to start to diminish.
If you are in the market to buy bank foreclosures you can sign up for our free New Listing Notification service. Then you will know as soon as a repo hits the market. There’s no obligation. Just fill out the short form and you will receive foreclosed properties currently on the market and new foreclosures the minute they hit the market. These properties are listed with various Realtors but we can show you any of them and help you negotiate a great price with the bank.
The above photograph of Mirror Pond in Bend Oregon was taken by Alan Huestis of Studio 404. I would highly recommend Alan for any of your professional photography needs. If you need professional pictures of Bend Oregon Alan has dozens of stock photographs to choose from.
Here’s a virtual tour with Pictures and Photos of Bend Oregon. Bend is a very scenic place to live! http://www.distinctivehometours.com/tour.asp?tour=BendOregon
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Bend Oregon real estate prices keep trending downward. There are 1,571 homes currently listed for sale in Bend in the Central Oregon Multiple Listing Service. This does not include properties on more than one acre. Prices range from $115,000 to $6,000,000. Many of these homes are over priced for today’s market yet there are some really good buys mixed in.
There are some Bank Foreclosures mixed in and some short sales. These homes tend to sell fast even in today’s buyer’s market because they are priced right. If a home is priced right it will sell. However, Bank foreclosures can close quickly whereas Short Sales can take months to close. There are also serious sellers who have their homes priced to sell and most will negotiate.
President Bush just signed the 7 Billion dollar bail out and I’m hoping that will loosen things up a little. However, mortgage money is still available at a good rate. I personally feel that now is the time to start shopping. I think the market will bottom out next sprint or summer and the good buys will be fewer and far between at that time. Now is the time to buy!
To sign up for our free “New Listing Notification” service go to :http://www.bendoregonrealestateexpert.com/bend-oregon-real-estate-new-listings-notification.html If you have a question about
One of reason people are moving to Bend is the activities down town. The annual Bend Fall Festival will take place this weekend in down town Bend. Saturday from 11 am – 10 pm and Sunday 11 am – 6 pm. The weather may not cooperate this year. It’s predicted to be in the 50s with a 30% chance of rain on Saturday. You can find more information at http://www.bendfallfestival.com/
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