Over Priced Homes

There are currently 1,723 homes for sale in Bend Oregon that are listed in the MLS.  I would guess that 70% of these homes are listed over the current market value. The statistics show that homes that are selling in 60 days or less are selling over 98% of the list price.  Homes that are priced right sell fairly quickly.

The homes that were on the market for more that 120 days  sold for 94.32% of the list price.  What the statistics don't show is what the percentage of the original list price the homes sold for.  We have listed and sold properties that had been previously listed with other Brokers.  Some of these homes have sold for as much as 40% of the original list price.  81 homes have sold in Bend within the last 30 days.  There are currently 144 pending sales.

Active: 1723  Pending: 144  Sold: 81  Other: 0  Total: 1948
   Bedrooms  Bathrooms  Square Feet  List Price  Selling Price  Days on Market
   0-30 Days   31-60 Days   61-90 Days   91-120 Days   120+ Days 

Enough statistics!  The reality for sellers is that if they price their property at or near market value they can expect it to sell within 90 days.  We have a 90 Sales program that has been successful in selling homes quickly in this market.

The reality for buyers is that a new listing that comes on the market and is priced right is going to sell quickly.  We're working with a young couple who have seen three homes that they wanted to buy and they dilly dallied around and all three homes sold to someone else.  All three homes were newly listed and sold close to list price.

About 70% of the homes for sale in Bend today are over priced.  But there are good buys out there and good buys coming on the market daily.  We set our buyer clients up on a New Listing Notification program.  Any new listing or price reduction that matches the criteria of the home they are looking for is automatically e-mailed to them.

It's a good time to buy a home in Bend.  There are some really good prices out there.  In five years we will all look back and say "Wow!  We could have bought that home for $xxx,xxx in 2008!

Jim Johnson has lived in Bend Oregon since 1981. Call 541-389-4511 or see his web site http://www.bendoregonrealestateexpert.com .  To see more information on Bend Oregon click on the link below. http://bendoregonrealestateexpert.com/bendoregon.asp  

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